Credit Agreement


 Exhibit 10.1 

 
  

 
 AMENDED AND RESTATED CREDIT
AGREEMENT 
 Dated as of August 11, 2005 
 As Amended and Restated as of June 9, 2009 
  As Further Amended and Restated
as of March 11, 2011 
  As Further Amended as of November 10, 2011 

 As Further Amended and Restated as of March 2, 2012 
  As Further Amended and Restated as of December 17, 2012 
  among 

 SUNGARD DATA SYSTEMS INC. 
 as Borrower, 
  SUNGARD HOLDCO LLC, 

 THE LENDERS PARTY HERETO, 
  and 
  JPMORGAN CHASE BANK, N.A., 

as Administrative Agent, Swing Line Lender and L/C Issuer, 

 
  

J.P. MORGAN SECURITIES LLC, 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 
 CREDIT SUISSE
SECURITIES (USA) LLC, 
 DEUTSCHE BANK SECURITIES INC., 
 MORGAN STANLEY SENIOR FUNDING, INC., 
 CITIGROUP GLOBAL MARKETS INC., 

BARCLAYS CAPITAL, 

RBC CAPITAL MARKETS, 
 and 
 GOLDMAN SACHS LENDING PARTNERS LLC 

as Joint Bookrunners 
  

 
  






 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE I
  

DEFINITIONS AND ACCOUNTING TERMS
	   
 
   

		
	 SECTION 1.01. Defined Terms
	  	 	1	  
	 SECTION 1.02. Other Interpretive Provisions
	  	 	57	  
	 SECTION 1.03. Accounting Terms
	  	 	58	  
	 SECTION 1.04. Rounding
	  	 	58	  
	 SECTION 1.05. References to Agreements, Laws, Etc
	  	 	58	  
	 SECTION 1.06. Times of Day
	  	 	58	  
	 SECTION 1.07. Timing of Payment of Performance
	  	 	58	  
	 SECTION 1.08. Currency Equivalents Generally
	  	 	59	  
	 SECTION 1.09. Change of Currency
	  	 	59	  
	
	ARTICLE II	  
	
	THE COMMITMENTS AND CREDIT EXTENSIONS	  
		
	 SECTION 2.01. The Loans
	  	 	59	  
	 SECTION 2.02. Borrowings, Conversions and Continuations of Loans
	  	 	60	  
	 SECTION 2.03. Letters of Credit
	  	 	62	  
	 SECTION 2.04. Swing Line Loans
	  	 	71	  
	 SECTION 2.05. Prepayments
	  	 	74	  
	 SECTION 2.06. Termination or Reduction of Commitments
	  	 	79	  
	 SECTION 2.07. Repayment of Loans
	  	 	79	  
	 SECTION 2.08. Interest
	  	 	80	  
	 SECTION 2.09. Fees
	  	 	81	  
	 SECTION 2.10. Computation of Interest and Fees
	  	 	82	  
	 SECTION 2.11. Evidence of Indebtedness
	  	 	82	  
	 SECTION 2.12. Payments Generally
	  	 	83	  
	 SECTION 2.13. Sharing of Payments
	  	 	85	  
	 SECTION 2.14. [Reserved]
	  	 	86	  
	 SECTION 2.15. Incremental Credit Extensions
	  	 	86	  
	 SECTION 2.16. [Reserved]
	  	 	88	  
	 SECTION 2.17. Loan Modification Offers
	  	 	88	  
	 SECTION 2.18. Refinancing Amendments
	  	 	89	  
	
	ARTICLE III	  
	
	TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY	  
		
	 SECTION 3.01. Taxes
	  	 	90	  
	 SECTION 3.02. Illegality
	  	 	94	  








					
	 SECTION 3.03. Inability to Determine Rates
	  	 	94	  
	 SECTION 3.04. Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurocurrency Rate Loans
	  	 	95	  
	 SECTION 3.05. Funding Losses
	  	 	96	  
	 SECTION 3.06. Matters Applicable to All Requests for Compensation
	  	 	97	  
	 SECTION 3.07. Replacement of Lenders under Certain Circumstances
	  	 	98	  
	 SECTION 3.08. Survival
	  	 	99	  
	
	ARTICLE IV	  
	
	CONDITIONS PRECEDENT TO CREDIT EXTENSIONS AND AS
SEPARATION	  
		
	 SECTION 4.01. [Reserved]
	  	 	99	  
	 SECTION 4.02. Conditions to All Credit Extensions
	  	 	99	  
	 SECTION 4.03. Conditions to AS Separation
	  	 	100	  
	
	ARTICLE V	  
	
	REPRESENTATIONS AND WARRANTIES	  
		
	 SECTION 5.01. Existence, Qualification and Power; Compliance with Laws
	  	 	102	  
	 SECTION 5.02. Authorization; No Contravention
	  	 	102	  
	 SECTION 5.03. Governmental Authorization; Other Consents
	  	 	102	  
	 SECTION 5.04. Binding Effect
	  	 	103	  
	 SECTION 5.05. Financial Statements; No Material Adverse Effect
	  	 	103	  
	 SECTION 5.06. Litigation
	  	 	104	  
	 SECTION 5.07. No Default
	  	 	104	  
	 SECTION 5.08. Ownership of Property; Liens
	  	 	104	  
	 SECTION 5.09. Environmental Compliance
	  	 	104	  
	 SECTION 5.10. Taxes
	  	 	106	  
	 SECTION 5.11. ERISA Compliance
	  	 	106	  
	 SECTION 5.12. Subsidiaries; Equity Interests
	  	 	106	  
	 SECTION 5.13. Margin Regulations; Investment Company Act; Public Utility Holding Company Act
	  	 	107	  
	 SECTION 5.14. Disclosure
	  	 	107	  
	 SECTION 5.15. Intellectual Property; Licenses, Etc
	  	 	107	  
	 SECTION 5.16. Solvency
	  	 	108	  
	 SECTION 5.17. [Reserved]
	  	 	108	  
	 SECTION 5.18. Subordination of Junior Financing
	  	 	108	  
	 SECTION 5.19. Labor Matters
	  	 	108	  
	
	ARTICLE VI	  
	
	AFFIRMATIVE COVENANTS	  
		
	 SECTION 6.01. Financial Statements
	  	 	108	  


  
 ii 









					
	 SECTION 6.02. Certificates; Other Information
	  	 	110	  
	 SECTION 6.03. Notices
	  	 	111	  
	 SECTION 6.04. Payment of Obligations
	  	 	112	  
	 SECTION 6.05. Preservation of Existence, Etc
	  	 	112	  
	 SECTION 6.06. Maintenance of Properties
	  	 	112	  
	 SECTION 6.07. Maintenance of Insurance
	  	 	112	  
	 SECTION 6.08. Compliance with Laws
	  	 	113	  
	 SECTION 6.09. Books and Records
	  	 	113	  
	 SECTION 6.10. Inspection Rights
	  	 	113	  
	 SECTION 6.11. Covenant to Guarantee Obligations and Give Security
	  	 	113	  
	 SECTION 6.12. Compliance with Environmental Laws
	  	 	116	  
	 SECTION 6.13. Further Assurances and Post-Closing Conditions
	  	 	116	  
	 SECTION 6.14. [Reserved]
	  	 	117	  
	 SECTION 6.15. Designation of Subsidiaries
	  	 	117	  
	 SECTION 6.16. Post-AS Separation Qualifying IPO
	  	 	117	  
	
	ARTICLE VII	  
	
	NEGATIVE COVENANTS	  
		
	 SECTION 7.01. Liens
	  	 	118	  
	 SECTION 7.02. Investments
	  	 	121	  
	 SECTION 7.03. Indebtedness
	  	 	125	  
	 SECTION 7.04. Fundamental Changes
	  	 	130	  
	 SECTION 7.05. Dispositions
	  	 	132	  
	 SECTION 7.06. Restricted Payments
	  	 	135	  
	 SECTION 7.07. Change in Nature of Business
	  	 	137	  
	 SECTION 7.08. Transactions with Affiliates
	  	 	138	  
	 SECTION 7.09. Burdensome Agreements
	  	 	138	  
	 SECTION 7.10. Use of Proceeds
	  	 	139	  
	 SECTION 7.11. Financial Covenants
	  	 	140	  
	 SECTION 7.12. Accounting Changes
	  	 	141	  
	 SECTION 7.13. Prepayments, Etc. of Indebtedness
	  	 	141	  
	 SECTION 7.14. Equity Interests of the Company and Restricted Subsidiaries
	  	 	142	  
	 SECTION 7.15. Holding Company
	  	 	142	  
	 SECTION 7.16. Capital Expenditures
	  	 	142	  
	
	ARTICLE VIII	  
	
	EVENTS OF DEFAULT AND REMEDIES	  
		
	 SECTION 8.01. Events of Default
	  	 	143	  
	 SECTION 8.02. Remedies Upon Event of Default
	  	 	146	  
	 SECTION 8.03. Exclusion of Immaterial Subsidiaries
	  	 	146	  
	 SECTION 8.04. Application of Funds
	  	 	147	  
	 SECTION 8.05. Company’s Right to Cure
	  	 	148	  


  
 iii









					
	
	ARTICLE IX	  
	
	ADMINISTRATIVE AGENT AND OTHER AGENTS	  
		
	 SECTION 9.01. Appointment and Authorization of Agents
	  	 	148	  
	 SECTION 9.02. Delegation of Duties
	  	 	149	  
	 SECTION 9.03. Liability of Agents
	  	 	150	  
	 SECTION 9.04. Reliance by Agents
	  	 	150	  
	 SECTION 9.05. Notice of Default
	  	 	150	  
	 SECTION 9.06. Credit Decision; Disclosure of Information by Agents
	  	 	151	  
	 SECTION 9.07. Indemnification of Agents
	  	 	151	  
	 SECTION 9.08. Agents in their Individual Capacities
	  	 	152	  
	 SECTION 9.09. Successor Agents
	  	 	152	  
	 SECTION 9.10. Administrative Agent May File Proofs of Claim
	  	 	153	  
	 SECTION 9.11. Collateral and Guaranty Matters
	  	 	154	  
	 SECTION 9.12. Other Agents; Arrangers and Managers
	  	 	155	  
	 SECTION 9.13. Appointment of Supplemental Administrative Agents
	  	 	155	  
	
	ARTICLE X	  
	
	MISCELLANEOUS	  
		
	 SECTION 10.01. Amendments, Etc
	  	 	156	  
	 SECTION 10.02. Notices and Other Communications; Facsimile Copies
	  	 	158	  
	 SECTION 10.03. No Waiver; Cumulative Remedies
	  	 	160	  
	 SECTION 10.04. Attorney Costs, Expenses and Taxes
	  	 	160	  
	 SECTION 10.05. Indemnification by the Company
	  	 	160	  
	 SECTION 10.06. Payments Set Aside
	  	 	161	  
	 SECTION 10.07. Successors and Assigns
	  	 	162	  
	 SECTION 10.08. Confidentiality
	  	 	166	  
	 SECTION 10.09. Setoff
	  	 	167	  
	 SECTION 10.10. Interest Rate Limitation
	  	 	168	  
	 SECTION 10.11. Counterparts
	  	 	168	  
	 SECTION 10.12. Integration
	  	 	168	  
	 SECTION 10.13. Survival of Representations and Warranties
	  	 	168	  
	 SECTION 10.14. Severability
	  	 	169	  
	 SECTION 10.15. Tax Forms
	  	 	169	  
	 SECTION 10.16. Governing Law
	  	 	171	  
	 SECTION 10.17. Waiver of Right to Trial by Jury
	  	 	171	  
	 SECTION 10.18. Binding Effect
	  	 	172	  
	 SECTION 10.19. Judgment Currency
	  	 	172	  
	 SECTION 10.20. Lender Action
	  	 	172	  
	 SECTION 10.21. USA PATRIOT Act
	  	 	173	  
	 SECTION 10.22. Agent for Service of Process
	  	 	173	  


  
 iv 








 SCHEDULES 
  

			
	I	  	Guarantors
	1.01A	  	Material Leased Property
	1.01B	  	Certain Security Interests and Guarantees
	1.01C	  	Unrestricted Subsidiaries
	1.01D	  	Mandatory Cost Formulae
	1.01E	  	Existing Letters of Credit
	1.01F	  	Mortgaged Properties
	1.01G	  	Excluded Subsidiary
	1.01H	  	Foreign Subsidiary
	2.01	  	Commitments
	5.05	  	Certain Liabilities
	5.09	  	Environmental Matters
	5.10	  	Taxes
	5.11	  	ERISA Compliance
	5.12	  	Subsidiaries and Other Equity Investments
	7.01(b)	  	Existing Liens
	7.02(f)	  	Existing Investments
	7.03(b)	  	Existing Indebtedness
	7.05(l)	  	Dispositions
	7.08	  	Transactions with Affiliates
	7.09	  	Existing Restrictions
	10.02	  	Administrative Agent’s Office, Certain Addresses for Notices

 EXHIBITS 
  

			
	Form of
		
	A	  	Committed Loan Notice
	B	  	Swing Line Loan Notice
	C-1	  	U.S. Term Note
	C-2	  	[Reserved]
	C-3	  	[Reserved]
	C-4	  	Revolving Credit Note
	D	  	Compliance Certificate
	E	  	Assignment and Assumption
	F-1	  	Holdings Guaranty
	F-2	  	U.S. Subsidiary Guaranty
	F-3	  	[Reserved]
	F-4	  	[Reserved]
	G	  	Security Agreement
	H	  	Mortgage
	I	  	[Reserved]
	J	  	[Reserved]
	K	  	[Reserved]
	L	  	[Reserved]


  
 v 








			
	M	  	Intellectual Property Security Agreement
	N	  	First Lien Intercreditor Agreement
	O	  	Second Lien Intercreditor Agreement
	P	  	Solvency Certificate


  
 vi 








 AMENDED AND RESTATED CREDIT AGREEMENT 

This AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of August 11, 2005, as
amended and restated as of June 9, 2009, as further amended and restated as of March 11, 2011, by the Second Refinancing Amendment dated as of March 11, 2011, as amended by the Third Amendment dated as of November 10, 2011, as
further amended and restated as of March 2, 2012, by the Fourth Amendment dated as of March 2, 2012, and as further amended and restated as of December 17, 2012, by the Fifth Amendment dated as of December 17, 2012, among SUNGARD
DATA SYSTEMS INC., a Delaware corporation (“SunGard” or the “Company”), SUNGARD HOLDCO LLC, a Delaware limited liability company (“Holdings”), and JPMORGAN CHASE BANK, N.A., as Administrative Agent,
Swing Line Lender and an L/C Issuer, and each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”). 

PRELIMINARY STATEMENTS 
 The Company, the Lenders and the Administrative Agent are party to the Restated Agreement (such term and other capitalized terms used in these preliminary statements being defined in Section 1.01
hereof). Pursuant to the Fifth Amendment, and upon satisfaction of the conditions set forth therein, the Restated Agreement is being amended and restated in the form of this Agreement. 

The applicable Lenders have indicated their willingness to lend, and the L/C Issuers have indicated their willingness to issue Letters of
Credit, in each case, on the terms and subject to the conditions set forth herein. 
 In consideration of the mutual covenants
and agreements herein contained, the parties hereto covenant and agree as follows: 
 ARTICLE I 

Definitions and Accounting Terms 
 SECTION 1.01. Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 
 “Accepting Lenders” has the meaning specified in Section 2.17(a). 
 “Acquired EBITDA” means, with respect to any Acquired Entity or Business for any period, the amount for such period of Consolidated EBITDA of such Acquired Entity or Business (determined
as if references to the Company and the Restricted Subsidiaries in the definition of Consolidated EBITDA were references to such Acquired Entity or Business and its Subsidiaries), all as determined on a consolidated basis for such Acquired Entity or
Business. 






 “Acquired Entity or Business” has the meaning set forth in the definition
of the term “Consolidated EBITDA”. 
 “Act” has the meaning set forth in Section 10.21.

 “Additional Lender” means, at any time, any bank or other financial institution (other than any such bank or
financial institution that is a Lender at such time) that agrees to provide any portion of an Incremental Term Loan or Revolving Commitment Increase pursuant to an Incremental Amendment in accordance with Section 2.15 or Credit Agreement
Refinancing Indebtedness pursuant to a Refinancing Amendment in accordance with Section 2.18; provided that each Additional Lender shall be subject to the approval of the Administrative Agent (such approval not to be unreasonably
withheld) and the Company. 
 “Administrative Agent” means JPMorgan Chase Bank, in its capacity as
administrative agent under any of the Loan Documents, or any successor administrative agent. 
 “Administrative
Agent’s Office” means, with respect to any currency, the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 10.02 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 the Company and the Lenders. 
 “Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 

“Affected Class” has the meaning specified in Section 2.17(a). 

“Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 
 “Agent-Related Persons” means the Agents, together with their respective Affiliates, and the officers, directors, employees, agents and attorneys-in-fact of such Persons and Affiliates.

 “Agents” means, collectively, the Administrative Agent, the Syndication Agents, the Documentation Agents and
the Supplemental Administrative Agents (if any). 
 “Aggregate Commitments” means the Commitments of all the
Lenders. 

  
 2 







 “Aggregate Credit Exposures” means, at any time, the sum of (a) the
unused portion of each Revolving Credit Commitment then in effect and (b) the Total Outstandings at such time. 

“Agreement” means this Credit Agreement. 
 “Agreement Currency” has the meaning specified in Section 10.19. 
 “Alternative Incremental Facility Debt” means any Indebtedness incurred by the Company in the form of one or more series of senior secured notes or senior unsecured notes; provided
that (i) if such Indebtedness is secured, such Indebtedness shall be secured by the Collateral on a pari passu or junior basis (but in each case without regard to the control of remedies) with the Secured Obligations and is not secured
by any property or assets of the Company or any Subsidiary other than the Collateral, (ii) such Indebtedness does not mature or have scheduled amortization or payments of principal prior to the date that is ninety-one (91) days after the
Latest Maturity Date at the time such Indebtedness is incurred (except, in each case, upon the occurrence of an event of default, a change in control, an event of loss or an asset disposition), (iii) if such Indebtedness is secured, the
security agreements relating to such Indebtedness are substantially the same as the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (iv) such Indebtedness is not guaranteed by any
Subsidiaries other than the Subsidiary Guarantors and (v) if such Indebtedness is secured, a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to the First Lien Intercreditor Agreement or the
Second Lien Intercreditor Agreement, as the case may be; provided that if such Indebtedness is the initial Alternative Incremental Facility Debt incurred by the Company that is secured, then the Company, the Subsidiary Guarantors, the
Administrative Agent, the Collateral Agent and the Senior Representative for such Indebtedness shall have executed and delivered the First Lien Intercreditor Agreement or the Second Lien Intercreditor Agreement, as the case may be. Alternative
Incremental Facility Debt will include any Registered Equivalent Notes issued in exchange therefor. 
 “Amendment and
Restatement Agreement” means the Amendment and Restatement Agreement dated as of June 9, 2009, among the Company, Holdings, SunGard UK Holdings Limited, the Lenders party thereto and the Administrative Agent. 

“Applicable Rate” means a percentage per annum equal to: 

(a) (i) with respect to the Tranche A U.S. Term Loans, the following percentages per annum, based upon the Total
Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b): 
  

													
	 Applicable Rate
	 
	 Pricing
 Level
	  	Total Leverage
Ratio	 	  	Eurocurrency
Rate	 	 	Base Rate	 
	 1
	  	 	<5.25:1	  	  	 	1.75	% 	 	 	0.75	% 
	 2
	  	 	>5.25:1	  	  	 	2.00	% 	 	 	1.00	% 


  
 3 







 (ii) with respect to the Tranche B U.S. Term Loans: (A) for
Eurocurrency Rate Loans, 3.625% per annum, and (B) for Base Rate Loans, 2.625% per annum; 
 (iii)
with respect to the Tranche C Term Loans: (A) for Eurocurrency Rate Loans, 3.75% per annum, and (B) for Base Rate Loans, 2.75% per annum; and 

(iv) with respect to the Tranche D Term Loans: (A) for Eurocurrency Rate Loans, 3.50% per annum, and
(B) for Base Rate Loans, 2.50% per annum. 
 (b) with respect to Revolving Credit Loans, unused
Revolving Credit Commitments and Letter of Credit fees relating to the Revolving Credit Commitments, the following percentages per annum, based upon the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the
Administrative Agent pursuant to Section 6.02(b): 
  

															
	 Applicable Rate
	 
	 Pricing
 Level
	  	Total Leverage Ratio	  	Eurocurrency
Rate and
Letter of
Credit Fees	 	 	Base Rate	 	 	Commitment
Fee
Rate	 
	 0
	  	<4:1	  	 	2.75	% 	 	 	1.75	% 	 	 	0.500	% 
	 1
	  	>4:1 but <4.5:1	  	 	3.00	% 	 	 	2.00	% 	 	 	0.625	% 
	 2
	  	>4.5:1 but <5:1	  	 	3.25	% 	 	 	2.25	% 	 	 	0.875	% 
	 3
	  	>5:1 but <5.5:1	  	 	3.50	% 	 	 	2.50	% 	 	 	1.000	% 
	 4
	  	>5.5:1 but <6:1	  	 	3.75	% 	 	 	2.75	% 	 	 	1.125	% 
	 5
	  	>6:1	  	 	4.00	% 	 	 	3.00	% 	 	 	1.125	% 

 (c) Notwithstanding clause (a) of this definition, the Applicable Rate for each
Incremental Term Loan made pursuant to the First Refinancing Amendment that shall not have been converted into a Tranche C Term Loan on the Fourth Amendment Effective Date shall be, as of any date of determination, (i) for Eurocurrency Rate
Loans, 3.50% per annum, and (ii) for Base Rate Loans, 2.50% per annum. 
 Any increase or decrease in the Applicable Rate
resulting from a change in the Total Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided that at the option of the
Administrative Agent or the Required Lenders, the highest Pricing Level shall apply (x) as of 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 

  
 4 







 (and thereafter the Pricing Level otherwise determined in accordance with this definition shall apply) and
(y) as of the first Business Day after an Event of Default under Section 8.01(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). 
 “Appropriate
Lender” means, at any time, (a) with respect to Loans of any Class, the Lenders of such Class, (b) with respect to Letters of Credit, (i) the relevant L/C Issuers and (ii) with respect to any Letters of Credit issued
pursuant to Section 2.03(a), the Revolving Credit Lenders and (c) with respect to the Swing Line Facility, (i) the Swing Line Lender and (ii) if any Swing Line Loans are outstanding pursuant to Section 2.04(a), the Revolving
Credit Lenders. 
 “Approved Bank” has the meaning specified in clause (c) of the definition of “Cash
Equivalents”. 
 “Approved Fund” means any Fund that is administered, advised or managed by (a) a
Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers, advises or manages a Lender. 
 “Arrangers” means J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, each in its capacity as a Joint Lead Arranger under this Agreement.

 “AS Business” means the availability services business of Holdings and the Subsidiaries, as described in the
Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010, and includes the assets and operations reported on as a separate availability services business segment in the financial statements included in such Form
10-K, subject to acquisitions and dispositions of assets and operations associated with such business in the ordinary course. 

“AS Exchange Agreement” has the meaning specified in the definition of “AS Separation Transactions”.

 “AS Exchanging Debtholders” means, collectively, the investment banks and other investors who purchase
SunGard Short Term Notes in connection with the AS Separation Transactions, together with their respective successors and assigns. 
 “AS New LLC” has the meaning specified in the definition of “AS Separation Transactions”. 
 “AS Separation” means the distribution of all outstanding Equity Interests of AS Spinco held by Holdings and its Subsidiaries contemplated by clause (vi) of the definition of AS
Separation Transactions. 
 “AS Separation Conditions” has the meaning specified in Section 4.03.


  
 5 







 “AS Separation Date” means the date on which the AS Separation occurs.

 “AS Separation Documents” means (i) a royalty-free license of the SunGard name to AS Spinco and its
subsidiaries for a period of up to five years after the AS Separation and (ii) any other agreements among the Company and its Subsidiaries (not including AS Spinco and its subsidiaries), on the one hand, and AS Spinco and its subsidiaries, on
the other hand, with respect to services and transactions relating to the separation of the AS Business, including a tax sharing and disaffiliation agreement and agreements relating to employee matters. 

“AS Separation IRS Ruling” has the meaning specified in Section 4.03(a). 

“AS Separation Tax Opinion” has the meaning specified in Section 4.03(b). 

“AS Separation Transactions” means, collectively, (i) the formation by the Company of a new Delaware limited
liability company (“AS New LLC”) and a new Delaware corporation (“AS Spinco”), which as a result of step (iv) will directly own all the Equity Interests of AS New LLC, (ii) the issuance by the Company of
SunGard Short Term Notes in an amount not to exceed $900,000,000 in contemplation of the AS Separation, (iii) the transfer of all of the Equity Interests of the AS Subsidiaries and the other assets primarily related to the conduct of the AS
Business (including working capital) to AS New LLC, an AS Subsidiary or one or more Subsidiaries of AS New LLC, (iv) the transfer by the Company of membership interests in AS New LLC to AS Spinco in exchange for newly issued AS Spinco
Securities, common stock of AS Spinco and the assumption by AS Spinco and/or certain AS Subsidiaries of certain Company liabilities, (v) if the AS Separation occurs, the exchange by AS Exchanging Debtholders of SunGard Short Term Notes for AS
Spinco Securities at fair market value on the date of such exchange pursuant to one or more exchange agreements (collectively, the “AS Exchange Agreement”) between the Company and the AS Exchanging Debtholders, (vi) the
distribution of all Equity Interests of AS Spinco held by the Company to the holders of the Equity Interests of SunGard Capital Corporation on a pro rata basis (which distribution will be made through several intermediate distributions to
Subsidiaries of SunGard Capital Corporation, including Holdings); provided that such AS Separation Transactions may be modified or added to (other than with respect to the identity of the assets contributed to AS New LLC pursuant to clause
(iii)) pursuant to and in conformity with the statements, assumptions and representations required to be made by the Company and certain of its Affiliates in the AS Separation IRS Ruling to the extent such modifications or additions are not adverse
to the Lenders in any material respect. 
 “AS Spinco” has the meaning specified in the definition of “AS
Separation Transactions”. 

  
 6 







 “AS Spinco Securities” means debt securities issued by AS Spinco in an
aggregate principal amount not to exceed $900,000,000 and which (i) have a final maturity date no earlier than ten years from the date of issuance and (ii) are optionally redeemable by AS Spinco beginning on the date that is not earlier
than five years from the date of issuance at redemption prices (including a declining premium) to be agreed between the holders of such AS Spinco Securities and AS Spinco. 
 “AS Subsidiaries” means, collectively, the Subsidiaries of Holdings that are principally engaged in the conduct of the AS Business or incorporated or established to effect the AS
Separation (other than any such Subsidiary that is liquidated, sold or otherwise disposed of after the Fourth Amendment Effective Date in a transaction not prohibited by this Agreement). 

“Assignees” has the meaning specified in Section 10.07(b). 

“Assignment and Assumption” means an Assignment and Assumption substantially in the form of Exhibit E. 

“Attorney Costs” means and includes all reasonable fees, expenses and disbursements of any law firm or other external
legal counsel. 
 “Attributable Indebtedness” means, on any date, in respect of any Capitalized Lease of any
Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP. 
 “Audited Financial Statements” means the audited consolidated balance sheets of SunGard and its Subsidiaries as of each of December 31, 2010, 2009 and 2008, and the related audited
consolidated statements of income, stockholders’ equity and cash flows for SunGard and its Subsidiaries for the fiscal years ended December 31, 2010, 2009 and 2008, respectively. 

“Auto-Renewal Letter of Credit” has the meaning specified in Section 2.03(b)(iii). 

“Base Rate” means for any day a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate plus
1/2 of 1% and (b) the rate of interest in effect for such day as publicly announced from time to time by JPMorgan Chase Bank as its “prime rate.” The “prime rate” is a rate set by JPMorgan Chase Bank based upon various
factors including JPMorgan Chase Bank 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
rate announced by JPMorgan Chase Bank shall take effect at the opening of business on the day specified in the public announcement of such change. 
 “Base Rate Loan” means a Loan that bears interest based on the Base Rate. 
 “Borrower” means the Company. 

  
 7 







 “Borrower Parties” means the collective reference to the Company and the
Restricted Subsidiaries, and “Borrower Party” means any one of them. 
 “Borrowing” means a Revolving
Credit Borrowing, a Swing Line Borrowing or a Term Borrowing, as the context may require. 
 “Broker-Dealer
Facility” means the overnight credit facilities of the Broker-Dealer Subsidiaries. 
 “Broker-Dealer
Liens” means Liens on the Equity Interests owned by any Broker-Dealer Subsidiary or any person that is not an Affiliate of the Company. 
 “Broker-Dealer Subsidiaries” means the Subsidiaries that are principally engaged in the business of providing broker-dealer services. 

“Business Day” means 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 if such day relates to any interest rate settings as to a Eurocurrency Rate
Loan, any fundings, disbursements, settlements and payments in respect of any such Eurocurrency Rate Loan, or any other dealings to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means any such day on which
dealings in deposits in Dollars are conducted by and between banks in the London interbank eurodollar market. 

“Capital Expenditures” means, for any period, the aggregate of (a) all expenditures (whether paid in cash or
accrued as liabilities) by the Company and the Restricted Subsidiaries during such period that, in conformity with GAAP, are or are required to be included as additions during such period to property, plant or equipment reflected in the consolidated
balance sheet of the Company and the Restricted Subsidiaries, (b) all Capitalized Software Expenditures for such period and (c) the value of all assets under Capitalized Leases incurred by the Company and the Restricted Subsidiaries during
such period; provided that the term “Capital Expenditures” shall not include (i) expenditures made in connection with the replacement, substitution, restoration or repair of assets to the extent financed with
(x) insurance proceeds paid on account of the loss of or damage to the assets being replaced, restored or repaired or (y) awards of compensation arising from the taking by eminent domain or condemnation of the assets being replaced,
(ii) the purchase price of equipment that is purchased simultaneously with the trade-in of existing equipment to the extent that the gross amount of such purchase price is reduced by the credit granted by the seller of such equipment for the
equipment being traded in at such time, (iii) the purchase of plant, property or equipment or software to the extent financed with the proceeds of Dispositions that are not required to be applied to prepay Term Loans pursuant to
Section 2.05(b), (iv) expenditures that constitute any part of Consolidated Lease Expense, (v) expenditures that are accounted for as capital expenditures by the Company or any Restricted Subsidiary and that actually are paid for by a
Person other than the Company or any Restricted Subsidiary and for which neither the Company nor any Restricted 

  
 8 







 
Subsidiary has provided or is required to provide or incur, directly or indirectly, any consideration or obligation to such Person or any other Person (whether before, during or after such
period), (vi) the book value of any asset owned by the Company or any Restricted Subsidiary prior to or during such period to the extent that such book value is included as a capital expenditure during such period as a result of such Person
reusing or beginning to reuse such asset during such period without a corresponding expenditure actually having been made in such period; provided that (x) any expenditure necessary in order to permit such asset to be reused shall be
included as a Capital Expenditure during the period in which such expenditure actually is made and (y) such book value shall have been included in Capital Expenditures when such asset was originally acquired, or (vii) expenditures that
constitute Permitted Acquisitions. 
 “Capitalized Leases” means all leases that have been or should be, in
accordance with GAAP, recorded as capitalized leases; provided that for all purposes hereunder the amount of obligations under any Capitalized Lease shall be the amount thereof accounted for as a liability in accordance with GAAP. 

“Capitalized Software Expenditures” means, for any period, the aggregate of all expenditures (whether paid in cash or
accrued as liabilities) by the Company and the Restricted Subsidiaries during such period in respect of purchased software or internally developed software and software enhancements that, in conformity with GAAP, are or are required to be reflected
as capitalized costs on the consolidated balance sheet of the Company and the Restricted Subsidiaries. 
 “Cash
Collateral” has the meaning specified in Section 2.03(g). 
 “Cash Collateral Account” means a
blocked account at JPMorgan Chase Bank (or another commercial bank selected in compliance with Section 9.09) 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” has the meaning specified in
Section 2.03(g). 
 “Cash Equivalents” means any of the following types of Investments, to the extent
owned by the Company or any Restricted Subsidiary: 
 (a) Dollars, Euros or, in the case of any Foreign
Subsidiary, such local currencies held by it from time to time in the ordinary course of business; 
 (b) readily
marketable obligations issued or directly and fully guaranteed or insured by the government or any agency or instrumentality of (i) the United States or (ii) any member nation of the European Union, having average maturities of not more
than 12 months from the date of acquisition thereof; provided that the full faith and credit of the United States or a member nation of the European Union is pledged in support thereof; 

  
 9 







 (c) time deposits with, or insured certificates of deposit or bankers’
acceptances of, any commercial bank that (i) is a Lender or (ii) (A) is organized under the Laws of the United States, any state thereof, the District of Columbia or any member nation of the Organization for Economic Cooperation and
Development or is the principal banking Subsidiary of a bank holding company organized under the Laws of the United States, any state thereof, the District of Columbia or any member nation of the Organization for Economic Cooperation and
Development, and is a member of the Federal Reserve System, and (B) has combined capital and surplus of at least $250,000,000 (any such bank in the foregoing clauses (i) or (ii) being an “Approved Bank”), in each case
with average maturities of not more than 12 months from the date of acquisition thereof; 
 (d) commercial paper
and variable or fixed rate notes issued by an Approved Bank (or by the parent company thereof) or any variable or fixed rate note issued by, or guaranteed by, a corporation rated A-2 (or the equivalent thereof) or better by S&P or P-2 (or the
equivalent thereof) or better by Moody’s, in each case with average maturities of not more than 12 months from the date of acquisition thereof; 
 (e) repurchase agreements entered into by any Person with a bank or trust company (including any of the Lenders) or recognized securities dealer, in each case, having capital and surplus in excess of
$250,000,000 for direct obligations issued by or fully guaranteed or insured by the government or any agency or instrumentality of (i) the United States or (ii) any member nation of the European Union, in which such Person shall have a
perfected first priority security interest (subject to no other Liens) and having, on the date of purchase thereof, a fair market value of at least 100% of the amount of the repurchase obligations; 

(f) securities with average maturities of 12 months or less from the date of acquisition issued or fully guaranteed by any
state, commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government having an investment grade rating from either S&P or Moody’s
(or the equivalent thereof); 
 (g) Investments with average maturities of 12 months or less from the date of
acquisition in money market funds rated AAA- (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s; 
 (h) instruments equivalent to those referred to in clauses (a) through (g) above denominated in Euros or any other foreign 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 any business conducted by any Restricted Subsidiary organized in such
jurisdiction; and 

  
 10 








 (i) Investments, classified in accordance with GAAP as current assets of the
Company or any Restricted Subsidiary, in money market investment programs which are registered under the Investment Company Act of 1940 or which are administered by financial institutions having capital of at least $250,000,000, and, in either case,
the portfolios of which are limited such that substantially all of such investments are of the character, quality and maturity described in clauses (a) through (h) of this definition. 

“Cash Management Obligations” means obligations owed by Holdings, the Company or any Restricted Subsidiary to any Lender
or any Affiliate of a Lender in respect of any overdraft and related liabilities arising from treasury, depository and cash management services or any automated clearing house transfers of funds. 

“Casualty Event” means any event that gives rise to the receipt by Holdings, the Company or any Restricted Subsidiary of
any insurance proceeds or condemnation awards in respect of any equipment, fixed assets or real property (including any improvements thereon) to replace or repair such equipment, fixed assets or real property. 

“CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as subsequently
amended. 
 “CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability Information
System maintained by the U.S. Environmental Protection Agency. 
 “Change of Control” means the earliest to
occur of (a) the Permitted Holders ceasing to have the power, directly or indirectly, to vote or direct the voting of securities having a majority of the ordinary voting power for the election of directors of Holdings; provided that the
occurrence of the foregoing event shall not be deemed a Change of Control if, 
 (i) any time prior to the
consummation of a Qualifying IPO, and for any reason whatsoever, (A) the Permitted Holders otherwise have the right, directly or indirectly, to designate (and do so designate) a majority of the board of directors of Holdings or (B) the
Permitted Holders own, directly or indirectly, of record and beneficially an amount of common stock of Holdings equal to an amount more than fifty percent (50%) of the amount of common stock of Holdings owned, directly or indirectly, by the
Permitted Holders of record and beneficially as of the Closing Date and such ownership by the Permitted Holders represents the largest single block of voting securities of Holdings held by any Person or related group for purposes of
Section 13(d) of the Exchange Act, or 
 (ii) at any time after the consummation of a Qualifying IPO, and
for any reason whatsoever, (A) no “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act, but excluding any employee benefit plan of such person and its Subsidiaries, and any person
or entity acting in 

  
 11 








 
its capacity as trustee, agent or other fiduciary or administrator of any such plan), excluding the Permitted Holders, shall become the “beneficial owner” (as defined in Rules 13(d)-3
and 13(d)-5 under such Act), directly or indirectly, of more than the greater of (x) thirty-five percent (35%) of the shares outstanding of Holdings and (y) the percentage of the then outstanding voting stock of Holdings owned,
directly or indirectly, beneficially by the Permitted Holders, and (B) during each period of twelve (12) consecutive months, the board of directors of Holdings shall consist of a majority of the Continuing Directors; or 

(b) any “Change of Control” (or any comparable term) in any document pertaining to the Existing Notes, the New
Notes or any Junior Financing with an aggregate outstanding principal amount in excess of the Threshold Amount; or 
 (c) at any time prior to a Qualifying IPO of the Company, the Company ceasing to be a directly or indirectly wholly owned Subsidiary of Holdings. 

“Class” (a) when used with respect to Lenders, refers to whether such Lenders are Revolving Credit Lenders, Tranche
A U.S. Term Lenders, Tranche B U.S. Term Lenders, Tranche C Term Lenders, Tranche D Term Lenders or Incremental Term Lenders, (b) when used with respect to Commitments, refers to whether such Commitments are Revolving Credit Commitments,
Incremental Term Commitments, Other Revolving Credit Commitments or Other Term Commitments and (c) when used with respect to Loans or a Borrowing, refers to whether such Loans, or the Loans comprising such Borrowing, are Revolving Credit Loans,
Tranche A U.S. Term Loans, Tranche B U.S. Term Loans, Tranche C Term Loans, Tranche D Term Loans, Incremental Term Loans, Other Revolving Credit Loans or Other Term Loans. 
 “Closing Date” means August 11, 2005. 

“Code” means the U.S. Internal Revenue Code of 1986 and rules and regulations related thereto. 

“Collateral” means all the “Collateral” as defined in any Collateral Document and shall include the Mortgaged
Properties. 
 “Collateral Agent” means JPMorgan Chase Bank, in its capacity as collateral agent under any of
the Loan Documents, or any successor administrative agent. 
 “Collateral and Guarantee Requirement” means, at
any time, the requirement that: 
 (a) the Administrative Agent shall have received each Collateral Document
required to be delivered on the Closing Date pursuant to Section 4.01(a)(iii) of the Original Agreement or pursuant to Section 6.11 at such time, duly executed by each Loan Party thereto; 

  
 12 








 (b) all Obligations shall have been unconditionally guaranteed (the
“Guarantees”) by Holdings and each Restricted Subsidiary that is a Domestic Subsidiary and not an Excluded Subsidiary (each, a “Guarantor”); 

(c) [reserved]; 
 (d) all guarantees issued or to be issued in respect of the Senior Subordinated Notes (i) shall be subordinated to the Guarantees to the same extent that the Senior Subordinated Notes are
subordinated to the Obligations and (ii) shall provide for their automatic release upon a release of the corresponding Guarantee; 
 (e) the Obligations and the Guarantees shall have been secured by a first-priority security interest in (i) all the Equity Interests of the Company and (ii) to the extent that it does not give
rise to additional Subsidiary reporting requirements under Rule 3-16 of Regulation S-X promulgated under the Exchange Act, all Equity Interests (other than Equity Interests of Unrestricted Subsidiaries and any Equity Interest of any Restricted
Subsidiary pledged to secure Indebtedness permitted under Section 7.03(g)) of each wholly owned Subsidiary directly owned by any Guarantor; provided that pledges of Equity Interests of each Foreign Subsidiary shall be limited to 65% of
the issued and outstanding Equity Interests of such Foreign Subsidiary at any time; 
 (f) except to the extent
otherwise permitted hereunder or under any Collateral Document, the Obligations and the Guarantees shall have been secured by a security interest in, and mortgages on, substantially all tangible and intangible assets of Holdings, the Company and
each other Guarantor (including accounts (other than deposit accounts or other bank or securities accounts and accounts receivable and related assets subject to the Receivables Facility), inventory, equipment, investment property, contract rights,
intellectual property, other general intangibles, owned real property and proceeds of the foregoing), in each case, with the priority required by the Collateral Documents; provided that security interests in real property shall be limited to
the Mortgaged Properties; 
 (g) [reserved]; 

(h) [reserved]; 
 (i) none of the Collateral shall be subject to any Liens other than Liens permitted by Section 7.01; and 
 (j) the Collateral Agent shall have received (i) counterparts of a Mortgage with respect to each owned property described on Schedule 1.01F hereto or required to be delivered pursuant to
Section 6.11 (the “Mortgaged Properties”) duly executed and delivered by the record owner of such property, (ii) a policy or policies of title insurance issued by a nationally recognized title insurance company insuring
the Lien of each such Mortgage as a valid Lien on the property described therein, free of any other Liens except as expressly 

  
 13 








 permitted by Section 7.01, together with such endorsements, coinsurance and reinsurance
as the Administrative Agent may reasonably request, and (iii) such existing surveys, existing abstracts, existing appraisals, legal opinions and other documents as the Administrative Agent may reasonably request with respect to any such
Mortgaged Property. 
 The foregoing definition shall not require the creation or perfection of pledges of or security interests
in, or the obtaining of title insurance or surveys with respect to, particular assets if and for so long as, in the reasonable judgment of the Administrative Agent (confirmed in writing by notice to the Company), the cost of creating or perfecting
such pledges or security interests in such assets or obtaining title insurance or surveys in respect of such assets shall be excessive in view of the benefits to be obtained by the Lenders therefrom. The Administrative Agent may grant extensions of
time for the perfection of security interests in or the obtaining of title insurance with respect to particular assets where it reasonably determines, in consultation with the Company, that perfection cannot be accomplished without undue effort or
expense by the time or times at which it would otherwise be required by this Agreement or the Collateral Documents. 

Notwithstanding the foregoing provisions of this definition or anything in this Agreement or any other Loan Document to the contrary,
(a) with respect to leases of real property entered into by the Company or any other Guarantor prior to the Closing Date, the Company shall not be required to take any action with respect to creation or perfection of security interests with
respect to such leases prior to the Closing Date and (b) Liens required to be granted from time to time pursuant to the Collateral and Guarantee Requirement shall be subject to exceptions and limitations set forth in the Collateral Documents as
in effect on the Closing Date and, to the extent appropriate in the applicable jurisdiction, as agreed between the Administrative Agent and the Company. 
 “Collateral Documents” means, collectively, the Security Agreement, the Intellectual Property Security Agreement, the Mortgages, the First Refinancing Amendment Reaffirmation Agreement,
the Fourth Amendment Reaffirmation Agreement, the Fifth Amendment Reaffirmation Agreement, each of the mortgages, Security Agreement Supplements, security agreements, pledge agreements or other similar agreements delivered to the Administrative
Agent and the Lenders pursuant to Section 6.11 or Section 6.13, the Guaranty and each of the other agreements, instruments or documents that creates or purports to create a Lien or Guarantee in favor of the Administrative Agent for the
benefit of the Secured Parties. 
 “Commitment” means an Incremental Term Commitment or a Revolving Credit
Commitment, as the context may require. 
 “Committed Loan Notice” means a notice of (a) a Term Borrowing,
(b) a Revolving Credit Borrowing, (c) a conversion of Loans from one Type to the other or (d) a continuation of Eurocurrency Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of
Exhibit A. 

  
 14 








 “Company” has the meaning specified in the introductory paragraph to this
Agreement and includes the surviving company of the merger between Solar Capital Corp. and SunGard consummated on the Closing Date. 
 “Compensation Period” has the meaning specified in Section 2.12(c)(ii). 
 “Compliance Certificate” means a certificate substantially in the form of Exhibit D. 
 “Consolidated EBITDA” means, for any period, the Consolidated Net Income for such period, plus: 

(a) without duplication and to the extent already deducted (and not added back) in arriving at such Consolidated Net
Income, the sum of the following amounts for such period: 
 (i) total interest expense (other than any portion
thereof related to (A) the Receivables Facility and (B) the Broker-Dealer Facility to the extent the aggregate principal amount of Indebtedness incurred under the Broker-Dealer Facility is not in excess of $20,000,000) and, to the extent
not reflected in such total interest expense, any losses on hedging obligations or other derivative instruments entered into for the purpose of hedging interest rate risk, net of interest income and gains on such hedging obligations, and costs of
surety bonds in connection with financing activities, 
 (ii) provision for taxes based on income, profits or
capital of the Company and the Restricted Subsidiaries, including state, franchise and similar taxes (such as the Pennsylvania capital tax) and foreign withholding taxes paid or accrued during such period, 

(iii) depreciation and amortization (including amortization of Capitalized Software Expenditures), 

(iv) Non-Cash Charges, 
 (v) extraordinary losses and unusual or non-recurring charges, severance, relocation costs and curtailments or modifications to pension and post-retirement employee benefit plans, 

(vi) restructuring charges or reserves (including restructuring costs related to acquisitions after the Closing Date and
to closure/consolidation of facilities), 
 (vii) any deductions attributable to minority interests, 

(viii) the amount of management, monitoring, consulting and advisory fees and related expenses paid to the Sponsors,


  
 15 








 (ix) any costs or expenses incurred by the Company or a Restricted
Subsidiary pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such costs or expenses are funded with cash
proceeds contributed to the capital of the Company or net cash proceeds of an issuance of Equity Interests of the Company (other than Disqualified Equity Interests); and 

(x) the amount of net cost savings projected by the Company in good faith to be realized as a result of specified actions
taken during such period (calculated on a pro forma basis as though such cost savings had been realized on the first day of such period), net of the amount of actual benefits realized during such period from such actions; provided that
(A) such cost savings are reasonably identifiable and factually supportable, (B) such actions are taken within 36 months after the Closing Date, (C) no cost savings shall be added pursuant to this clause (x) to the extent
duplicative of any expenses or charges relating to such cost savings that are included in clause (vi) above with respect to such period and (D) the aggregate amount of cost savings added pursuant to this clause (x) shall not exceed
$100,000,000 for any period consisting of four consecutive quarters, less 
 (b) without duplication and
to the extent included in arriving at such Consolidated Net Income, the sum of the following amounts for such period: 
 (i) extraordinary gains and unusual or non-recurring gains, 
 (ii)
non-cash gains (excluding any non-cash gain to the extent it represents the reversal of an accrual or reserve for a potential cash item that reduced Consolidated EBITDA in any prior period), 

(iii) gains on asset sales (other than asset sales in the ordinary course of business), 

(iv) any net after-tax income from the early extinguishment of Indebtedness or hedging obligations or other derivative
instruments, and 
 (v) all gains from investments recorded using the equity method, 

in each case, as determined on a consolidated basis for the Company and the Restricted Subsidiaries in accordance with GAAP;
provided that, to the extent included in Consolidated Net Income, 
 (i) there shall be excluded in
determining Consolidated EBITDA currency translation gains and losses related to currency remeasurements of Indebtedness (including the net loss or gain resulting from Swap Contracts for currency exchange risk), 

  
 16 








 (ii) there shall be excluded in determining Consolidated EBITDA for any
period any adjustments resulting from the application of Statement of Financial Accounting Standards No. 133, and 
 (iii) there shall be included in determining Consolidated EBITDA for any period, without duplication, (A) the Acquired EBITDA of any Person, property, business or asset acquired by the Company or any
Restricted Subsidiary during such period (but not the Acquired EBITDA of any related Person, property, business or assets to the extent not so acquired), to the extent not subsequently sold, transferred or otherwise disposed by the Company or such
Restricted Subsidiary (each such Person, property, business or asset acquired and not subsequently so disposed of, an “Acquired Entity or Business”), based on the actual Acquired EBITDA of such Acquired Entity or Business for such
period (including the portion thereof occurring prior to such acquisition) and (B) for the purposes of the definition of the term “Permitted Acquisition” and Section 7.11, an adjustment in respect of each Acquired Entity or
Business equal to the amount of the Pro Forma Adjustment with respect to such Acquired Entity or Business for such period (including the portion thereof occurring prior to such acquisition) as specified in a certificate executed by a Responsible
Officer and delivered to the Lenders and the Administrative Agent and (C) for purposes of determining the Total Leverage Ratio, Total Secured Leverage Ratio or Interest Coverage Ratio only, there shall be excluded in determining Consolidated
EBITDA for any period the Disposed EBITDA of any Person, property, business or asset sold, transferred or otherwise disposed of (including pursuant to a spin-off or spin-out transaction) or closed, by the Company or any Restricted Subsidiary during
such period (each such Person, property, business or asset so sold or disposed of, a “Sold Entity or Business”), based on the actual Disposed EBITDA of such Sold Entity or Business for such period (including the portion thereof
occurring prior to such sale, transfer or disposition). 
 For the purpose of the definition of Consolidated EBITDA, “Non-Cash
Charges” means (a) losses on asset sales, disposals or abandonments, (b) any impairment charge or asset write-off related to intangible assets, long-lived assets, and investments in debt and equity securities pursuant to GAAP,
(c) all losses from investments recorded using the equity method, (d) stock-based awards compensation expense and (e) other non-cash charges (provided that if any non-cash charges referred to in this clause (e) 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). 
 “Consolidated Interest Expense” means, for any period, the sum of (i) the cash
interest expense (including that attributable to Capitalized Leases), net of cash interest income, of the Company and the Restricted Subsidiaries, determined on a consolidated basis in accordance with GAAP, with respect to all outstanding
Indebtedness of the Company and the Restricted Subsidiaries, including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net costs under Swap Contracts,
(ii) any cash payments made 

  
 17 








 
during such period in respect of obligations referred to in clause (b) below relating to Funded Debt that were amortized or accrued in a previous period (other than any such obligations
resulting from the discounting of Indebtedness in connection with the application of purchase accounting in connection with the Transaction or any Permitted Acquisition) and (iii) from and after the date that a Holdings Restricted Payments
Election is made, the amount of all Restricted Payments from the Company to Holdings used to fund cash interest payments by Holdings, but excluding, however, (a) amortization of deferred financing costs and any other amounts of non-cash
interest, (b) the accretion or accrual of discounted liabilities during such period, (c) commissions, discounts, yield and other fees and charges (including any interest expense) incurred in connection with (i) the Receivables
Facility and (ii) the Broker-Dealer Facility to the extent the aggregate principal amount of Indebtedness incurred under the Broker-Dealer Facility is not in excess of $20,000,000 and (d) all non-recurring cash interest expense consisting
of liquidated damages for failure to timely comply with registration rights obligations and financing fees, all as calculated on a consolidated basis in accordance with GAAP; provided that for purposes of the definition of the term
“Permitted Acquisition” and Section 7.11, there shall be included in determining Consolidated Interest Expense for any period the cash interest expense (or income) of any Acquired Entity or Business acquired during such period, based
on the cash interest expense (or income) of such Acquired Entity or Business for such period (including the portion thereof occurring prior to such acquisition) assuming any Indebtedness incurred or repaid in connection with any such acquisition had
been incurred or prepaid on the first day of such period. 
 “Consolidated Lease Expense” means, for any
period, all rental expenses of the Company and the Restricted Subsidiaries during such period under operating leases for real or personal property (including in connection with sale-leaseback transactions permitted by Section 7.05(f)),
excluding real estate taxes, insurance costs and common area maintenance charges and net of sublease income, other than (a) obligations under vehicle leases entered into in the ordinary course of business, (b) all such rental expenses
associated with assets acquired pursuant to a Permitted Acquisition to the extent such rental expenses relate to operating leases in effect at the time of (and immediately prior to) such acquisition and related to periods prior to such acquisition
and (c) all obligations under Capitalized Leases, all as determined on a consolidated basis in accordance with GAAP. 

“Consolidated Net Income” means, for any period, the net income (loss) of the Company and the Restricted Subsidiaries
for such period determined on a consolidated basis in accordance with GAAP, excluding, without duplication, (a) extraordinary items for such period, (b) the cumulative effect of a change in accounting principles during such period to the
extent included in Consolidated Net Income, (c) in the case of any period that includes a period ending prior to or during the fiscal year ending December 31, 2005, Transaction Expenses, (d) any fees and expenses incurred during such
period, or any amortization thereof for such period, in connection with any acquisition, investment, asset disposition, issuance or repayment of debt, issuance of equity securities, refinancing transaction or amendment or other modification of any
debt instrument (in each case, including any such transaction consummated prior 

  
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to the Closing Date and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period as a result of any such transaction,
(e) any income (loss) for such period attributable to the early extinguishment of Indebtedness and (f) accruals and reserves that are established within twelve months after the Closing Date that are so required to be established as a
result of the Transaction in accordance with GAAP. There shall be excluded from Consolidated Net Income for any period the purchase accounting effects of adjustments to property and equipment, software and other intangible assets and deferred
revenue in component amounts required or permitted by GAAP and related authoritative pronouncements (including the effects of such adjustments pushed down to Holdings, the Company and the Restricted Subsidiaries), as a result of the Transaction, any
acquisition consummated prior to the Closing Date, any Permitted Acquisitions, or the amortization or write-off of any amounts thereof. 
 “Consolidated Total Debt” means, as of any date of determination, (a) the aggregate principal amount of Indebtedness of the Company and the Restricted Subsidiaries outstanding on
such date, determined on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting from the application of purchase accounting in connection with the Transaction or any Permitted
Acquisition), consisting of Indebtedness for borrowed money, obligations in respect of Capitalized Leases and debt obligations evidenced by promissory notes or similar instruments (and excluding, for the avoidance of doubt, all Indebtedness
outstanding under or in respect of (i) the Receivables Facility and (ii) the Broker-Dealer Facility to the extent the aggregate principal amount of Indebtedness incurred under the Broker-Dealer Facility is not in excess of $20,000,000),
minus (b) the aggregate amount of cash and Cash Equivalents (in each case, free and clear of all Liens, other than nonconsensual Liens permitted by Section 7.01 and Liens permitted by Section 7.01(s) and clauses (i) and
(ii) of Section 7.01(u)) in excess of $50,000,000 included in the consolidated balance sheet of the Company and the Restricted Subsidiaries as of such date. 
 “Consolidated Total Secured Debt” means, as of any date of determination, the aggregate principal amount of Indebtedness of the Company and the Restricted Subsidiaries outstanding on such
date that is secured by Liens on any property or assets of Holdings, the Company or any of the Restricted Subsidiaries, determined on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness
resulting from the application of purchase accounting in connection with the Transaction or any Permitted Acquisition), consisting of Indebtedness for borrowed money, obligations in respect of Capitalized Leases and debt obligations evidenced by
promissory notes or similar instruments. 
 “Consolidated Working Capital” means, at any date, the excess of
(a) the sum of all amounts (other than cash and Cash Equivalents) that would, in conformity with GAAP, be set forth opposite the caption “total current assets” (or any like caption) on a consolidated balance sheet of the Company and
the Restricted Subsidiaries at such date over (b) the sum of all amounts that would, in conformity with GAAP, be set forth opposite the caption “total current liabilities” (or any like caption) on a consolidated


  
 19 








 
balance sheet of the Company and the Restricted Subsidiaries on such date, including deferred revenue but excluding, without duplication, (i) the current portion of any Funded Debt,
(ii) all Indebtedness consisting of Loans and L/C Obligations to the extent otherwise included therein, (iii) the current portion of interest, (iv) the current portion of current and deferred income taxes and (v) any changes in
current assets or current liabilities as a result of reclassification in accordance with GAAP or the effects of purchase accounting. 
 “Continuing Directors” means the directors of Holdings on the Closing Date, as elected or appointed after giving effect to the Merger and the other transactions contemplated thereby, and
each other director, if, in each case, such other directors’ nomination for election to the board of directors of Holdings (or the Company after a Qualifying IPO of the Company) is recommended by a majority of the then Continuing Directors or
such other director receives the vote of the Permitted Holders in his or her election by the stockholders of Holdings (or the Company after a Qualifying IPO of the Company). 
 “Contract Consideration” has the meaning set forth in the definition of “Excess Cash Flow”. 
 “Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party
or by which it or any of its property is bound. 
 “Control” has the meaning specified in the definition of
“Affiliate.” 
 “Credit Agreement Refinancing Indebtedness” means (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 or (in the case of Other
Revolving Commitments obtained pursuant to a Refinancing Amendment) Revolving Credit Commitments hereunder (including any successive Credit Agreement Refinancing Indebtedness) (“Refinanced Debt”); provided that (i) such
extending, renewing or refinancing Indebtedness (including, if such Indebtedness includes any Other Revolving Credit Commitments, the unused portion of such Other Revolving Credit Commitments) is in an original aggregate principal amount not greater
than the aggregate principal amount of the Refinanced Debt (and, in the case of Refinanced Debt consisting, in whole or in part, of unused Revolving Credit Commitments or Other Revolving Credit Commitments, the amount thereof), (ii) such
Indebtedness has the same or a later maturity and, except in the case of Other Revolving Credit Commitments, a Weighted Average Life to Maturity equal to or greater than the Refinanced Debt and (iii) such Refinanced 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 Credit Agreement Refinancing Indebtedness is issued, incurred or obtained;


  
 20 








 
provided that to the extent that such Refinanced Debt consists, in whole or in part, of Revolving Credit Commitments or Other Revolving Credit Commitments (or Revolving Credit Loans, Other
Revolving Credit Loans or Swing Line Loans incurred pursuant to any Revolving Credit Commitments or Other Revolving Credit Commitments), such Revolving Credit Commitments or Other Revolving Credit Commitments, as applicable, shall be terminated, and
all accrued fees in connection therewith shall be paid, on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained. 
 “Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension. 
 “Cumulative Excess Cash Flow” has the meaning specified in Section 7.06(i). 
 “Debt Issuance” means the issuance by any Person and its Subsidiaries of any Indebtedness for borrowed money. 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium,
rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally (including, in the case of Loan
Parties incorporated or organized in England or Wales, administration, administrative receivership, voluntary arrangement and schemes of arrangement). 
 “Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 

“Default Rate” means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate, if any,
applicable to Base Rate Loans plus (c) 2.0% per annum; provided that with respect to a Eurocurrency Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate and any Mandatory
Cost) otherwise applicable to such Loan plus 2.0% per annum, in each case, to the fullest extent permitted by applicable Laws. 
 “Defaulting Lender” means any Lender that (a) has failed to fund any portion of the U.S. Term Loans, Revolving Credit Loans, participations in L/C Obligations or participations in
Swing Line Loans required to be funded by it hereunder within one (1) Business Day of the date required to be funded by it hereunder, unless the subject of a good faith dispute or subsequently cured, (b) has notified the Administrative
Agent, the applicable L/C Issuer, the Swing Line Lender, any Lender and/or the Borrower in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect that it does
not intend to comply with its funding obligations under this Agreement or generally under other agreements in which it commits to extend credit (unless such writing or public statement states that such position is based on such Lender’s
determination that a condition 

  
 21 








 
precedent to funding (which condition precedent, together with the applicable default, if any, shall be specifically identified in such writing or public statement) cannot be satisfied),
(c) has failed, within one (1) Business Day after request by the Administrative Agent or the Borrower, to confirm that it will comply with the terms of this Agreement relating to its obligations to fund prospective Loans and participations
in then outstanding Letters of Credit and Swing Line Loans (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon a later receipt by the Administrative Agent of such Lender’s written
confirmation), (d) 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 one (1) Business Day of the date when due, unless the subject of a good faith
dispute or subsequently cured, or (e) in the case of a Lender that has a Commitment, L/C Obligations or Swing Line Obligations outstanding at such time, shall take, or is the Subsidiary of any person that has taken, any action or be (or is) the
subject of any action or proceeding of a type described in Section 8.01(f) or (g) (or any comparable proceeding initiated by a regulatory authority having jurisdiction over such Lender or such person); provided that a Lender shall
not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest 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. 
 “Designated Non-Cash Consideration” means
the fair market value of non-cash consideration received by the Company or a Restricted Subsidiary in connection with a Disposition pursuant to Section 7.05(k) that is designated as Designated Non-Cash Consideration pursuant to a certificate of
a Responsible Officer, setting forth the basis of such valuation (which amount will be reduced by the fair market value of the portion of the non-cash consideration converted to cash within 180 days following the consummation of the applicable
Disposition). 
 “Designated Obligations” means all obligations of the Borrower with respect to
(a) principal of and interest on the Loans, (b) Unreimbursed Amounts and interest thereon and (c) accrued and unpaid fees under the Loan Documents. 
 “Disposed EBITDA” means, with respect to any Sold Entity or Business for any period, the amount for such period of Consolidated EBITDA of such Sold Entity or Business (determined as if
references to the Company and the Restricted Subsidiaries in the definition of Consolidated EBITDA were references to such Sold Entity or Business and its Subsidiaries), all as determined on a consolidated basis for such Sold Entity or Business.

 “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition
(including any sale and leaseback transaction, any sale of Equity Interests and any spin-off or spin-out transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes
or accounts receivable or any rights and claims associated therewith; provided that “Disposition” and “Dispose” shall not be deemed to include any issuance by Holdings of any of its Equity Interests to another Person.


  
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 “Disqualified Equity Interests” means any Equity Interest which, by its
terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for
Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event
shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is redeemable at the option of the holder thereof (other than solely for Qualified
Equity Interests), in whole or in part, (c) provides for the scheduled payments of dividends in cash or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified
Equity Interests, in each case, prior to the date that is ninety-one (91) days after the Latest Maturity Date of the Term Loans as in effect at the time of the issuance of such Equity Interest. 

“Documentation Agents” means Credit Suisse Securities (USA) LLC and RBC Capital Markets, as Documentation Agents under
this Agreement. 
 “Dollar” and “$” mean lawful money of the United States. 

“Dollar Amount” means, at any time, with respect to any Loan (including, with respect to any Swing Line Loan, any funded
participation therein), the principal amount thereof then outstanding (or in which such participation is held). 

“Domestic Subsidiary” means any Subsidiary that is organized under the Laws of the United States, any state thereof or
the District of Columbia. 
 “Eligible Assignee” means any Assignee permitted by and consented to in accordance
with Section 10.07(b). 
 “EMU” means the economic and monetary union in accordance with the Treaty of
Rome 1957, as amended by the Single European Act 1986, the Maastricht Treaty of 1992 and the Amsterdam Treaty of 1998. 

“EMU Legislation” means the legislative measures of the European Council for the introduction of, changeover to or
operation of a single or unified European currency. 
 “Environmental Laws” means any and all Federal, state,
local, and foreign statutes, Laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution, the protection of the environment,
natural resources, or, to the extent relating to exposure to Hazardous Materials, human health or to the release of any materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste
or public systems. 

  
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 “Environmental Liability” means any liability, contingent or otherwise
(including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Company, any other Loan Party or any of their respective Subsidiaries directly or indirectly resulting from or based upon
(a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release
of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Environmental Permit” means any permit, approval, identification number, license or other authorization required under
any Environmental Law. 
 “Equity Contributions” means, collectively, (a) the contribution by the Equity
Investors of an aggregate amount of cash (together with the aggregate value of options to purchase Equity Interests of the Company held by Management Stockholders that are rolled over in connection with the Transactions) of not less than
$3,000,000,000 to Solar Capital Corp., Holdings or one or more direct or indirect holding company parents of Holdings, and (b) the further contribution to the Company of any portion of such cash contribution proceeds not directly received by
the Company or used by Holdings to pay Transaction Expenses. 
 “Equity Interests” means, with respect to any
Person, all of the shares, interests, rights, participations or other equivalents (however designated) of capital stock of (or other ownership or profit interests or units in) such Person and all of the warrants, options or other rights for the
purchase, acquisition or exchange from such Person of any of the foregoing (including through convertible securities). 

“Equity Investors” means the Sponsors and the Management Stockholders. 

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

“ERISA Affiliate” means any trade or business (whether or not incorporated) that is under common control with any Loan
Party within the meaning of Section 414 of the Code or Section 4001 of ERISA. 
 “ERISA Event” means
(a) a Reportable Event with respect to a Pension Plan, (b) a withdrawal by any Loan Party or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as
defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA, (c) a complete or partial withdrawal by any Loan Party or any ERISA Affiliate from a
Multiemployer Plan or notification that a Multiemployer Plan is in reorganization, (d) the filing of a notice of 

  
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intent to terminate, the treatment of a Plan amendment as a termination under Sections 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or
Multiemployer Plan, (e) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan or (f) the imposition of
any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any Loan Party or any ERISA Affiliate. 
 “Euro” and “EUR” means the lawful currency of the Participating Member States introduced in accordance with EMU Legislation. 

“Eurocurrency Rate” means, for any Interest Period with respect to any Eurocurrency Rate Loan: 

(a) the rate per annum equal to the rate determined by the Administrative Agent to be the offered rate that appears on the
page of the Dow Jones Market screen (or any successor thereto) that displays an average British Bankers Association Interest Settlement Rate for deposits in Dollars (for delivery on the first day of such Interest Period) with a term equivalent to
such Interest Period, determined as of approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day of such Interest Period, or, if different, the date on which quotations would customarily be provided by leading banks in
the London Interbank Market for deposits of amounts in Dollars for delivery on the first day of such Interest Period, or 
 (b) if the rate referenced in the preceding clause (a) does not appear on such page or service or such page or service shall not be available, the rate per annum equal to the rate determined by the
Administrative Agent to be the offered rate on such other page or other service that displays an average British Bankers Association Interest Settlement Rate for deposits in Dollars (for delivery on the first day of such Interest Period) with a term
equivalent to such Interest Period, determined as of approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day of such Interest Period, or, if different, the date on which quotations would customarily be provided
by leading banks in the London Interbank Market for deposits of amounts in Dollars for delivery on the first day of such Interest Period, or 
 (c) if the rates referenced in the preceding clauses (a) and (b) are not available, the rate per annum determined by the Administrative Agent as the rate of interest at which deposits in Dollars
for delivery on the first day of such Interest Period in Same Day Funds in the approximate amount of the Eurocurrency Rate Loan being made, continued or converted by JPMorgan Chase Bank and with a term equivalent to such Interest Period would be
offered by JPMorgan Chase Bank’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day of such Interest Period or, if
different, the date on which quotations would customarily be provided by leading banks in the London Interbank Market for deposits of amounts in Dollars for delivery on the first day of such Interest Period. 

  
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 Notwithstanding anything to the contrary herein, the Eurocurrency Rate on each day with
respect to the Tranche D Term Loans shall not be less than 1.00%. 
 “Eurocurrency Rate Loan” means a Loan that
bears interest at a rate based on the Eurocurrency Rate. 
 “Event of Default” has the meaning specified in
Section 8.01. 
 “Excess Cash Flow” means, for any period, an amount equal to the excess of: 

(a) the sum, without duplication, of: 
 (i) Consolidated Net Income for such period, 
 (ii) an amount equal to the
amount of all non-cash charges to the extent deducted in arriving at such Consolidated Net Income, 
 (iii) decreases in
Consolidated Working Capital and long-term account receivables for such period (other than any such decreases arising from acquisitions by the Company and the Restricted Subsidiaries completed during such period), and 

(iv) an amount equal to the aggregate net non-cash loss on Dispositions by the Company and the Restricted Subsidiaries during such period
(other than Dispositions in the ordinary course of business) to the extent deducted in arriving at such Consolidated Net Income; over 
 (b) the sum, without duplication, of: 
 (i) an amount equal to the amount of all
non-cash credits included in arriving at such Consolidated Net Income and cash charges included in clauses (a) through (f) of the definition of Consolidated Net Income, 

(ii) without duplication of amounts deducted pursuant to clause (xi) below in prior fiscal years, the amount of Capital Expenditures
made in cash or accrued during such period pursuant to Section 7.16, except to the extent that such Capital Expenditures were financed with the proceeds of Indebtedness of the Company or the Restricted Subsidiaries, 

(iii) the aggregate amount of all principal payments of Indebtedness of the Company and the Restricted Subsidiaries (including
(A) the principal component of payments in respect of Capitalized Leases and (B) the amount of any mandatory prepayment of Term Loans pursuant to Section 2.05(b)(ii) to the extent required due to a Disposition that resulted in an
increase to Consolidated Net Income and not in excess of 

  
 26 








 
the amount of such increase but excluding (X) all other prepayments of Term Loans and (Y) all prepayments of Revolving Credit Loans and Swing Line Loans) made during such period (other
than in respect of any revolving credit facility to the extent there is not an equivalent permanent reduction in commitments thereunder), except to the extent financed with the proceeds of other Indebtedness of the Company or the Restricted
Subsidiaries, 
 (iv) an amount equal to the aggregate net non-cash gain on Dispositions by the Company and the Restricted
Subsidiaries during such period (other than Dispositions in the ordinary course of business) to the extent included in arriving at such Consolidated Net Income, 
 (v) increases in Consolidated Working Capital and long-term account receivables for such period (other than any such increases arising from acquisitions by the Company and the Restricted Subsidiaries
during such period), 
 (vi) cash payments by the Company and the Restricted Subsidiaries during such period in respect of
long-term liabilities of the Company and the Restricted Subsidiaries other than Indebtedness, 
 (vii) without duplication
of amounts deducted pursuant to clause (xi) below in prior fiscal years, the amount of Investments and acquisitions made during such period pursuant to Section 7.02 (other than Section 7.02(a)) to the extent that such Investments and
acquisitions were financed with internally generated cash flow of the Company and the Restricted Subsidiaries, 
 (viii) the
amount of Restricted Payments paid during such period pursuant to Section 7.06(i) to the extent such Restricted Payments were financed with internally generated cash flow of the Company and the Restricted Subsidiaries, 

(ix) the aggregate amount of expenditures actually made by the Company and the Restricted Subsidiaries in cash during such period
(including expenditures for the payment of financing fees) to the extent that such expenditures are not expensed during such period, 
 (x) the aggregate amount of any premium, make-whole or penalty payments actually paid in cash by the Company and the Restricted Subsidiaries during such period that are required to be made in
connection with any prepayment of Indebtedness, 
 (xi) without duplication of amounts deducted from Excess Cash Flow in prior
periods, the aggregate consideration required to be paid in cash by the Company or any of the Restricted Subsidiaries pursuant to binding contracts (the “Contract Consideration”) entered into prior to or during such period relating
to Permitted Acquisitions or Capital Expenditures to be consummated or made during the period of four consecutive fiscal quarters of the Company following the end of such period; provided that to the extent the aggregate amount of internally
generated cash actually utilized to finance such Permitted Acquisitions during such period of four consecutive fiscal quarters is less than the Contract Consideration, the amount of such shortfall shall be added to the calculation of Excess Cash
Flow at the end of such period of four consecutive fiscal quarters, and 

  
 27 








 (xii) the amount of cash taxes paid in such period to the extent they exceed the amount of
tax expense deducted in determining Consolidated Net Income for such period. 
 “Exchange Act” means the
Securities Exchange Act of 1934. 
 “Exchange Rate” means on any day with respect to any currency other than
Dollars, the rate at which such currency may be exchanged into Dollars, as set forth at approximately 11:00 a.m. (London time) on such day on the Reuters World Currency Page for such currency; in the event that such rate does not appear on any
Reuters World Currency Page, the Exchange Rate shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Company, or, in the absence of such
agreement, such Exchange 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 10:00 a.m. (New York City time) on such date for the purchase of Dollars for delivery two Business Days later. 

“Excluded Subsidiary” means (a) any Subsidiary that is not a wholly owned Subsidiary, (b) any Receivables
Subsidiary, (c) each Subsidiary listed on Schedule 1.01G hereto, (d) any Subsidiary that is prohibited by applicable Law from guaranteeing the Obligations, (e) any Domestic Subsidiary that is a Subsidiary of a Foreign Subsidiary,
(f) any Restricted Subsidiary acquired pursuant to a Permitted Acquisition financed with secured Indebtedness incurred pursuant to Section 7.03(g) and each Restricted Subsidiary thereof that guarantees such Indebtedness; provided
that each such Restricted Subsidiary shall cease to be an Excluded Subsidiary under this clause (f) if such secured Indebtedness is repaid or becomes unsecured or if such Restricted Subsidiary ceases to guarantee such secured Indebtedness, as
applicable, (g) each Broker-Dealer Subsidiary and (h) any other Subsidiary with respect to which, in the reasonable judgment of the Administrative Agent (confirmed in writing by notice to the Company), the cost or other consequences
(including any adverse tax consequences) of providing a Guarantee shall be excessive in view of the benefits to be obtained by the Lenders therefrom. 
 “Existing Letters of Credit” means each Letter of Credit outstanding under the Original Agreement immediately prior to the Fourth Amendment Effective Date. 

“Existing Notes” means $250,000,000 aggregate principal amount of the Company’s 4.875% senior notes due 2014.

 “Existing Notes Documentation” means the Existing Notes, the Existing Notes Indenture and all other
documents executed and delivered with respect to the Existing Notes. 

  
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 “Existing Notes Indenture” means the Indenture for the Existing Notes,
dated as of January 15, 2004. 
 “Facility” means the Tranche A U.S. Term Loans, the Tranche B U.S. Term
Loans, the Tranche C Term Loans, the Tranche D Term Loans, the Incremental Term Loans, the Revolving Credit Facility, the Swing Line Sublimit or the Letter of Credit Sublimit, as the context may require. 

“FATCA” means Section 1471 through 1474 of the Code as of the Fourth Amendment Effective Date (or any amended or
successor version thereto that is substantively comparable and not materially more onerous to comply with) and any current or future regulations thereunder. 
 “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System
arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such
rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the
average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to JPMorgan Chase Bank on such day on such transactions as determined by the Administrative Agent. 

“Fifth Amendment” means the Fifth Amendment to this Agreement dated as of December 17, 2012, among Holdings, the
Borrower, the Lenders party thereto and the Administrative Agent. 
 “Fifth Amendment Effective Date” means
December 17, 2012. 
 “Fifth Amendment Reaffirmation Agreement” means the Reaffirmation Agreement dated as
of the Fifth Amendment Effective Date, among Holdings, the Subsidiaries of Holdings party thereto and the Administrative Agent. 

“First Amendment” means the First Amendment dated as of February 28, 2007, to this Agreement. 

“First Amendment Effective Date” means the date on which the First Amendment became effective in accordance with
Section 4 thereof. 
 “First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement
substantially in the form of Exhibit N among the Administrative Agent, the Collateral Agent and one or more Senior Representatives for holders of Permitted First Priority Refinancing Debt, with such modifications thereto as the Administrative Agent
may reasonably agree. 

  
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 “First Refinancing Amendment” means the First Refinancing Amendment to this
Agreement dated as of January 31, 2011, among Holdings, the Borrower, the Incremental Term Lenders party thereto and the Administrative Agent. 
 “First Refinancing Amendment Effective Date” has the meaning assigned thereto in the First Refinancing Amendment. 
 “First Refinancing Amendment Reaffirmation Agreement” means the Reaffirmation Agreement dated as of January 31, 2011, among Holdings, the Subsidiaries of Holdings party thereto and
the Administrative Agent. 
 “Foreign Lender” has the meaning specified in Section 10.15(a)(i).

 “Foreign Subsidiary” means any direct or indirect Restricted Subsidiary of the Company which (a) is not
a Domestic Subsidiary or (b) is set forth on Schedule 1.01H. 
 “Fourth Amendment” means the Fourth
Amendment to this Agreement dated as of March 2, 2012, among Holdings, the Borrower, the Lenders party thereto and the Administrative Agent. 
 “Fourth Amendment Effective Date” means March 2, 2012. 

“Fourth Amendment Reaffirmation Agreement” means the Reaffirmation Agreement dated as of the Fourth Amendment Effective
Date, among Holdings, the Subsidiaries of Holdings party thereto and the Administrative Agent. 
 “FRB” means
the Board of Governors of the Federal Reserve System of the United States. 
 “Fund” means any Person (other
than a natural person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course. 
 “Funded Debt” means all Indebtedness of the Company and the Restricted Subsidiaries for borrowed money that matures more than one year from the date of its creation or matures within one
year from such date that is renewable or extendable, at the option of such Person, to a date more than one year from such date or arises under a revolving credit or similar agreement that obligates the lender or lenders to extend credit during a
period of more than one year from such date, including Indebtedness in respect of the Loans. 
 “GAAP” means
generally accepted accounting principles in the United States of America, as in effect from time to time; provided, however, that if the Company notifies the Administrative Agent that the Company requests an amendment to any provision hereof
to eliminate the effect of any change occurring after the Closing Date in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Company that the Required Lenders request an


  
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amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be
interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. 

“Governmental Authority” means any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, administrative tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

 “Granting Lender” has the meaning specified in Section 10.07(h). 

“Guarantee” means, as to any Person, without duplication, (a) any obligation, contingent or otherwise, of such
Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including
any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation, (ii) to purchase or lease property, securities or
services for the purpose of assuring the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance of such Indebtedness or other monetary obligation, (iii) to maintain working capital, equity capital or
any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other monetary obligation, or (iv) entered into for the purpose of
assuring in any other manner the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any
assets of such Person securing any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness or other monetary obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such
Indebtedness to obtain any such Lien); provided that the term “Guarantee” shall not include endorsements for collection or deposit, in either case in the ordinary course of business, or customary and reasonable indemnity obligations
in effect on the Closing Date or entered into in connection with any acquisition or disposition of assets permitted under this Agreement (other than such obligations with respect to Indebtedness). The amount of any Guarantee shall be deemed to be an
amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as
determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guarantors” has the meaning set forth in the definition of “Collateral and Guarantee Requirement”.


  
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 “Guaranty” means, collectively, the Holdings Guaranty and the Subsidiary
Guaranty. 
 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or
toxic substances, wastes or pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature
regulated pursuant to any Environmental Law. 
 “Hedge Bank” means any Person that is a Lender or an Affiliate
of a Lender at the time it enters into a Secured Hedge Agreement, in its capacity as a party thereto. 

“Holdings” has the meaning set forth in the introductory paragraph to this Agreement. 

“Holdings Guaranty” means the Holdings Guaranty made by Holdings in favor of the Administrative Agent on behalf of the
Secured Parties and attached hereto as Exhibit F-1. 
 “Holdings Restricted Payments Election” has the meaning
specified in Section 7.06(c). 
 “Honor Date” has the meaning specified in Section 2.03(c)(i).

 “Incremental Amendment” has the meaning set forth in Section 2.15(a). 

“Incremental Facility Closing Date” has the meaning set forth in Section 2.15(a). 

“Incremental Term Commitment” means, as to each Incremental Term Lender, its obligation to make an Incremental Term Loan
to the Company in accordance with Section 2.15. 
 “Incremental Term Lender” means, at any time, any
Lender that has an Incremental Term Commitment or an Incremental Term Loan at such time. 
 “Incremental
Term Loan” means (a) a Term Loan made in accordance with Section 2.15 of this Agreement (including a Term Loan constituting Credit Agreement Refinancing Indebtedness thereof made in accordance with Section 2.18) or
(b) a Term Loan made pursuant to the First Refinancing Amendment and outstanding hereunder immediately prior to the Fourth Amendment Effective Date that shall not have been converted into a Tranche C Term Loan on the Fourth Amendment
Effective Date. 
 “Incremental Term Note” means a promissory note of the Company payable to any
Incremental Term Lender or its registered assigns, in substantially the form of Exhibit A to the First Refinancing Amendment, evidencing the aggregate Indebtedness of the Company to such Incremental Term Lender resulting from the
Incremental Term Loans made by such Incremental Term Lender. 

  
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 “Indebtedness” means, as to any Person at a particular time, without
duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 

(b) the maximum amount (after giving effect to any prior drawings or reductions which may have been reimbursed) of all
letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds, performance bonds and similar instruments issued or created by or for the account of such Person; 

(c) net obligations of such Person under any Swap Contract; 

(d) all obligations of such Person to pay the deferred purchase price of property or services (other than (i) trade
accounts payable in the ordinary course of business and (ii) any earn-out obligation until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP); 

(e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such
Person (including indebtedness arising under conditional sales or other title retention agreements and mortgage, industrial revenue bond, industrial development bond and similar financings), whether or not such indebtedness shall have been assumed
by such Person or is limited in recourse; 
 (f) all Attributable Indebtedness; 

(g) all obligations of such Person in respect of Disqualified Equity Interests; and 

(h) all Guarantees of such Person in respect of any of the foregoing. 

For all purposes hereof, the Indebtedness of any Person shall (A) include the Indebtedness of any partnership or joint venture (other than a joint
venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, except to the extent such Person’s liability for such Indebtedness is otherwise limited and only to the extent
such Indebtedness would be included in the calculation of Consolidated Total Debt and (B) in the case of Holdings and its Subsidiaries, exclude all intercompany Indebtedness having a term not exceeding 364 days (inclusive of any roll-over or
extensions of terms) and made in the ordinary of business consistent with past practice. The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of


  
 33 








 
such date. The amount of Indebtedness of any Person for purposes of clause (e) shall be deemed to be equal to the lesser of (i) the aggregate unpaid amount of such Indebtedness and
(ii) the fair market value of the property encumbered thereby as determined by such Person in good faith. 

“Indemnified Liabilities” has the meaning set forth in Section 10.05. 

“Indemnitees” has the meaning set forth in Section 10.05. 

“Information” has the meaning specified in Section 10.08. 

“Intellectual Property Security Agreement” means the Intellectual Property Security Agreement attached hereto as Exhibit
M. 
 “Intended Tax Treatment” means, subject to the exception below, that: 

(a) the transaction described in clause (iv) of the definition of “AS Separation Transactions” followed by
the AS Separation constitutes a “reorganization” within the meaning of Section 368(a)(1)(D) of the Code, and the Company will not recognize any gain with respect thereto; 

(b) the exchange described in clause (v) of the definition of “AS Separation Transactions” qualifies for
non-recognition treatment under Section 361 of the Code, and the Company will not recognize any gain with respect thereto; and 
 (c) the AS Separation qualifies as a non-recognition transaction under Section 355 of the Code and related provisions; 
 except to the extent that any gain that the Company may recognize in the transactions described (and qualifying for the respective Code provision referenced) in clauses (a), (b) or (c) could not
reasonably be expected to have a Material Adverse Effect. 
 “Interest Coverage Ratio” means, with respect to
the Company and the Restricted Subsidiaries on a consolidated basis, as of the end of any fiscal quarter of the Company for the Test Period ending on such date, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense.

 “Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of each
Interest Period applicable to such Loan and the Maturity Date of the Facility under which such Loan was made; provided that if any Interest Period for a Eurocurrency Rate Loan exceeds three months, the respective dates that fall every three
months after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan (including a Swing Line Loan), the last Business Day of each March, June, September and December and the Maturity Date of
the Facility under which such Loan was made. 

  
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 “Interest Period” means, as to each Eurocurrency Rate Loan, the period
commencing on the date such Eurocurrency Rate Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, two, three or six months thereafter, or to the extent available to each Lender of such Eurocurrency
Rate Loan, nine or twelve months or less than one month thereafter, as selected by the Borrower in its Committed Loan Notice; provided that: 
 (a) any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in
which case such Interest Period shall end on the next preceding Business Day; 
 (b) any Interest Period that
begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of
such Interest Period; and 
 (c) no Interest Period shall extend beyond the Maturity Date of the Facility under
which such Loan was made. 
 “Investment” means, as to any Person, any direct or indirect acquisition or
investment by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests or debt or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of Indebtedness
of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person (excluding, in the case of Holdings and its Subsidiaries,
intercompany loans, advances or Indebtedness having a term not exceeding 364 days (inclusive of any roll-over or extensions of terms) and made in the ordinary course of business consistent with past practice) or (c) the purchase or other
acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person. For purposes of
covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. 

“IP Collateral” means all “Intellectual Property Collateral” referred to in the Collateral Documents and all
of the other IP Rights that are or are required by the terms hereof or of the Collateral Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the Secured Parties. 

“IP Rights” has the meaning set forth in Section 5.15. 

“IRS” means the United States Internal Revenue Service. 

“JPMorgan Chase Bank” means JPMorgan Chase Bank, N.A. and its successors. 

  
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 “Judgment Currency” has the meaning specified in Section 10.19.

 “Junior Financing” has the meaning specified in Section 7.13. 

“Junior Financing Documentation” means any documentation governing any Junior Financing. 

“Latest Maturity Date” means, at any date of determination, the latest Maturity Date applicable to any Loan or
Commitment hereunder at such time, including the latest maturity date of any Other Term Loan, any Other Term Commitment, any Other Revolving Credit Loan or any Other Revolving Credit Commitment, in each case as extended in accordance with this
Agreement from time to time. 
 “Laws” means, 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. 
 “L/C Advance” means, with respect to each Revolving Credit Lender, such Lender’s funding of its
participation in any L/C Borrowing in accordance with its Pro Rata Share. 
 “L/C Borrowing” means 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 Credit Borrowing. 
 “L/C Credit Extension” means, 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 Issuer” means JPMorgan Chase Bank and Bank of America, N.A. and any other Lender that becomes an L/C
Issuer in accordance with Section 2.03(k) or 10.07(j), in each case, in its capacity as an issuer of Letters of Credit (including Existing Letters of Credit) hereunder, or any successor issuer of Letters of Credit hereunder. 

“L/C Obligations” means, as at any date of determination, the aggregate undrawn amount of all outstanding Letters of
Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. 
 “Lender” means each
Person listed on Schedule 2.01 (as amended as of the Fifth Amendment Effective Date) and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption, an Incremental Amendment or a Refinancing Amendment, other
than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption or pursuant to the Fourth Amendment following the termination of its Revolving Credit Commitments and the repayment in full


  
 36 








 
of its existing Revolving Credit Loans on the Fourth Amendment Effective Date. Unless the context otherwise requires, the term “Lenders” shall include each L/C Issuer and the Swing Line
Lender, and their respective successors and assigns as permitted hereunder. “Lender” includes each Incremental Term Lender. 
 “Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a
Lender may from time to time notify the Company and the Administrative Agent. 
 “Letter of Credit” means any
Existing Letter of Credit or any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit. 
 “Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the relevant L/C Issuer.

 “Letter of Credit Expiration Date” means the day that is five (5) Business Days prior to the scheduled
Maturity Date then in effect for the Revolving Credit Commitments (or, if such day is not a Business Day, the next preceding Business Day). 
 “Letter of Credit Sublimit” means an amount equal to the lesser of (a) $150,000,000 and (b) the aggregate amount of the Revolving Credit Commitments. The Letter of Credit
Sublimit is part of, and not in addition to, the Revolving Credit Facility. 
 “Lien” means any mortgage,
pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including any conditional sale
or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any Capitalized Lease having substantially the same economic effect as any of the foregoing). 

“Loan” means the loans made by the Lenders to the Borrower pursuant to Article 2 of this Agreement, including the
U.S. Term Loans made pursuant to the First Amendment on the First Amendment Effective Date, any Incremental Term Loan, any Other Term Loan or any Other Revolving Credit Loan. 
 “Loan Documents” means, collectively, (i) this Agreement, (ii) the Notes, (iii) the Guaranty, (iv) the Collateral Documents and (v) each Letter of Credit
Application. 
 “Loan Modification Agreement” means a Loan Modification Agreement, in form and substance
reasonably satisfactory to the Administrative Agent, among the Company, the Administrative Agent and one or more Accepting Lenders, effecting one or more Permitted Amendments and such other amendments hereto and to the other Loan Documents as are
contemplated by Section 2.17. 

  
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 “Loan Modification Offer” has the meaning specified in
Section 2.17(a). 
 “Loan Parties” means, collectively, the Borrower and each Guarantor. 

“Management Stockholders” means the members of management of the Company or its Subsidiaries who are investors in
Holdings or any direct or indirect parent thereof. 
 “Mandatory Cost” means, with respect to any period, the
percentage rate per annum determined in accordance with Schedule 1.01D. 
 “Master Agreement” has the meaning
specified in the definition of “Swap Contract.” 
 “Material Adverse Effect” means (a) a
material adverse effect on the business, operations, assets, liabilities (actual or contingent) or financial condition of the Company and its Subsidiaries, taken as a whole, (b) a material adverse effect on the ability of the Borrower or the
Loan Parties (taken as a whole) to perform their respective payment obligations under any Loan Document to which the Borrower or any of the Loan Parties is a party or (c) a material adverse effect on the rights and remedies of the Lenders under
any Loan Document. 
 “Maturity Date” means 

(a) with respect to the Revolving Credit Commitments and the Revolving Credit Loans, November 29, 2016; provided,
however, that such date will automatically become (x) November 29, 2013 for the Revolving Credit Commitments and the Revolving Credit Loans if all but $650,000,000 in aggregate principal amount of the Tranche A U.S. Term Loans, the
Incremental Term Loans established pursuant to the First Refinancing Amendment and the Existing Notes are not repaid in full or extended, renewed or refinanced with a Permitted Refinancing on or prior to November 29, 2013, which Permitted
Refinancing will not mature or require any scheduled amortization or payments of principal prior to the date that is ninety-one (91) days after November 29, 2016, and (y) if such date has not otherwise been modified in accordance with
clause (x), November 29, 2015 for the Revolving Credit Commitments and the Revolving Credit Loans if all but $250,000,000 in aggregate principal amount of the Tranche B U.S. Term Loans are not repaid in full or extended, renewed or refinanced
with a Permitted Refinancing on or prior to November 29, 2015, which Permitted Refinancing will not mature or require any scheduled amortization or payments of principal prior to the date that is ninety-one (91) days after
November 29, 2016; 
 (b) with respect to the Tranche A U.S. Term Loans and the Incremental Term Loans made pursuant
to the First Refinancing Amendment, February 28, 2014; 
 (c) with respect to the Tranche B U.S. Term Loans,
February 28, 2016; 

  
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 (d) with respect to the Tranche C Term Loans, February 28, 2017; provided,
however, that such date will automatically become November 29, 2015 if all but $250,000,000 in aggregate principal amount of the Tranche B U.S. Term Loans are not repaid in full or extended, renewed or refinanced with a Permitted
Refinancing on or prior to November 29, 2015, which Permitted Refinancing will not mature or require any scheduled amortization or payments of principal prior to the date that is ninety-one (91) days after February 28, 2017; and

 (e) with respect to the Tranche D Term Loans, January 31, 2020; provided,
however, that such date will automatically become (x) August 16, 2018 if all but $250,000,000 in aggregate principal amount of the Company’s 73/8% Senior Notes due 2018 are not repaid in full or extended, renewed or refinanced with a Permitted Refinancing on or
prior to August 16, 2018, which Permitted Refinancing will not mature or require any scheduled amortization or payments of principal prior to the date that is ninety-one (91) days after January 31, 2020 or (y) if such date has
not otherwise been modified in accordance with clause (x), August 2, 2019 if all but $250,000,000 in aggregate principal amount of the Company’s 6.625% Senior Subordinated Notes due 2019 are not repaid in full or extended, renewed or
refinanced with a Permitted Refinancing on or prior to August 2, 2019, which Permitted Refinancing will not mature or require any scheduled amortization or payments of principal prior to the date that is ninety-one (91) days after
January 31, 2020. 
 “Maximum Rate” has the meaning specified in Section 10.10. 

“Merger” means the merger of Solar Capital Corp. with SunGard pursuant to the Merger Agreement. 

“Merger Agreement” means the Agreement and Plan of Merger dated as of March 27, 2005, between Solar Capital Corp.
and SunGard. 
 “Merger Consideration” means the total funds required to consummate the Merger. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Mortgage” means, collectively, the deeds of trust, trust deeds, hypothecs and mortgages made by the Loan Parties in
favor or for the benefit of the Administrative Agent on behalf of the Lenders substantially in the form of Exhibit H (with such changes as may be customary to account for local Law matters), and any other mortgages executed and delivered pursuant to
Section 6.11. 
 “Mortgage Policies” has the meaning specified in Section 6.13(b)(ii). 

“Mortgaged Properties” has the meaning specified in paragraph (j) of the definition of Collateral and Guarantee
Requirement. 

  
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 “Multiemployer Plan” means any employee benefit plan of the type described
in Section 4001(a)(3) of ERISA, to which any Loan Party or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

“Net Cash Proceeds” means: 
 (a) with respect to the Disposition of any asset by Holdings, the Company or any Restricted Subsidiary or any Casualty Event, the excess, if any, of (i) the sum of cash and Cash Equivalents received
in connection with such Disposition or Casualty Event (including any cash or Cash Equivalents received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received and, with respect
to any Casualty Event, any insurance proceeds or condemnation awards in respect of such Casualty Event actually received by or paid to or for the account of Holdings, the Company or any Restricted Subsidiary) over (ii) the sum of (A) the
principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness that is secured by the asset subject to such Disposition or Casualty Event and that is required to be repaid (and is timely repaid) in connection with such
Disposition or Casualty Event (other than Indebtedness under the Loan Documents), (B) the out-of-pocket expenses (including attorneys’ fees, investment banking fees, survey costs, title insurance premiums, and related search and recording
charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees) actually incurred by Holdings, the Company or such Restricted Subsidiary in connection with such Disposition or
Casualty Event, (C) taxes paid or reasonably estimated to be actually payable in connection therewith and (D) any reserve for adjustment in respect of (x) the sale price of such asset or assets established in accordance with GAAP and
(y) any liabilities associated with such asset or assets and retained by Holdings, the Company or any Restricted Subsidiary after such sale or other disposition thereof, including pension and other post-employment benefit liabilities and
liabilities related to environmental matters or against any indemnification obligations associated with such transaction and it being understood that “Net Cash Proceeds” shall include any cash or Cash Equivalents (i) received upon the
Disposition of any non-cash consideration received by Holdings, the Company or any Restricted Subsidiary in any such Disposition and (ii) upon the reversal (without the satisfaction of any applicable liabilities in cash in a corresponding
amount) of any reserve described in clause (D) of the preceding sentence or, if such liabilities have not been satisfied in cash and such reserve is not reversed within three hundred and sixty-five (365) days after such Disposition or
Casualty Event, the amount of such reserve; provided that (x) no net cash proceeds calculated in accordance with the foregoing realized in a single transaction or series of related transactions shall constitute Net Cash Proceeds unless
such net cash proceeds shall exceed $10,000,000 and (y) no such net cash proceeds shall constitute Net Cash Proceeds under this clause (a) in any fiscal year until the aggregate amount of all such net cash proceeds in such fiscal year
shall exceed $25,000,000 (and thereafter only net cash proceeds in excess of such amount shall constitute Net Cash Proceeds under this clause (a)); 

  
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 (b) with respect to the incurrence or issuance of any Indebtedness by
Holdings, the Company or any Restricted Subsidiary, the excess, if any, of (i) the sum of the cash received in connection with such incurrence or issuance over (ii) the investment banking fees, underwriting discounts, commissions, costs
and other out-of-pocket expenses and other customary expenses, incurred by Holdings, the Company or such Restricted Subsidiary in connection with such incurrence or issuance; and 

(c) with respect to any amount in excess of $750,000,000 in the aggregate outstanding under the Receivables Facility, the
excess, if any, of (x) the sum of the cash received in connection with such excess amount over (y) the investment banking fees, underwriting discounts, commissions, costs and other out-of-pocket expenses and other customary expenses,
incurred by Holdings, the Company or the applicable Restricted Subsidiary in connection with respect to such excess amount. 

“New Notes” means the Senior Notes and Senior Subordinated Notes. 

“New Notes Documentation” means the New Notes, and all documents executed and delivered with respect to the New Notes,
including the Senior Notes Indenture and the Senior Subordinated Notes Indenture. 
 “Non-Cash Charges” has the
meaning set forth in the definition of the term “Consolidated EBITDA”. 
 “Non-Consenting Lenders”
has the meaning specified in Section 3.07(d). 
 “Nonrenewal Notice Date” has the meaning specified in
Section 2.03(b)(iii). 
 “Note” means a U.S. Term Note, an Incremental Term Note or a Revolving Credit
Note, as the context may require. 
 “Notice of Intent to Cure” has the meaning specified in
Section 6.02(b). 
 “Not Otherwise Applied” means, with reference to any amount of Net Cash Proceeds of
any transaction or event or of Excess Cash Flow, that such amount (a) was not required to be applied to prepay the Loans pursuant to Section 2.05(b) and (b) was not previously applied in determining the permissibility of a transaction
under the Loan Documents where such permissibility was (or may have been) contingent on receipt of such amount or utilization of such amount for a specified purpose. The Company shall promptly notify the Administrative Agent of any application of
such amount as contemplated by (b) above. 
 “NPL” means the National Priorities List under CERCLA.


  
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 “Obligations” means all (x) advances to, and debts, liabilities,
obligations, covenants and duties of, any Loan Party and its Subsidiaries arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or
contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or Subsidiary of any proceeding under any Debtor Relief Laws naming such Person as
the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding, (y) obligations of any Loan Party and its Subsidiaries arising under any Secured Hedge Agreement and (z) Cash Management
Obligations. Without limiting the generality of the foregoing, the Obligations of the Loan Parties under the Loan Documents (and of their Subsidiaries to the extent they have obligations under the Loan Documents) include (a) the obligation
(including guarantee obligations) to pay principal, interest, Letter of Credit commissions, reimbursement obligations, charges, expenses, fees, Attorney Costs, indemnities and other amounts payable by any Loan Party or its Subsidiaries under any
Loan Document and (b) the obligation of any Loan Party or any of its Subsidiaries to reimburse any amount in respect of any of the foregoing that any Lender, in its sole discretion, may elect to pay or advance on behalf of such Loan Party or
such Subsidiary. 
 “Organization Documents” means, (a) with respect to any corporation, the certificate
or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction), (b) with respect to any limited liability company, the certificate or articles of formation or
organization and operating agreement and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement,
instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles
of formation or organization of such entity. 
 “Original Agreement” means this Agreement as amended and in
effect immediately prior to the amendment and restatement on the Fourth Amendment Effective Date pursuant to the Fourth Amendment. 
 “Other Revolving Credit Commitments” means one or more Classes of revolving credit commitments hereunder or extended Revolving Credit Commitments that result from a Refinancing Amendment.

 “Other Revolving Credit Loans” means the Revolving Credit Loans made pursuant to any Other Revolving Credit
Commitment. 
 “Other Taxes” has the meaning specified in Section 3.01(b). 

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

  
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 “Other Term Loans” means one or more Classes of Term Loans that result from
a Refinancing Amendment. 
 “Outstanding Amount” means (a) with respect to the U.S. Term Loans,
Incremental Term Loans, Revolving Credit Loans and Swing Line Loans on any date, the amount thereof after giving effect to any borrowings and prepayments or repayments of U.S. Term Loans, Incremental Term Loans, Revolving Credit Loans (including any
refinancing of outstanding unpaid drawings under Letters of Credit or L/C Credit Extensions as a Revolving Credit Borrowing) and Swing Line Loans, as the case may be, occurring on such date; and (b) with respect to any L/C Obligations on any
date, the 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 Credit Borrowing) or any reductions in the maximum amount available for drawing under Letters of Credit taking effect
on such date. 
 “Overnight Rate” means, for any day, the Federal Funds Rate. 

“Pari-Passu Liens” means any Lien on the Collateral granted for the benefit of the holders of the Existing Notes that is
required by the terms of the Existing Notes Indentures as a result of the grant of security interests pursuant to any Collateral Document. 
 “Participant” has the meaning specified in Section 10.07(e). 

“Participating Member State” means each state so described in any EMU Legislation. 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of
ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by any Loan Party or any ERISA Affiliate or to which any Loan Party or any ERISA Affiliate contributes or has an obligation to contribute,
or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five (5) plan years. 

“Permitted Acquisition” has the meaning specified in Section 7.02(i). 

“Permitted Amendment” means an amendment to this Agreement and the other Loan Documents, effected in connection with a
Loan Modification Offer pursuant to Section 2.17, 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 in the Applicable Rate with
respect to the Loans and/or Commitments of the Accepting Lenders and/or (b) a change in the fees payable to, or the inclusion of new fees to be payable to, the Accepting Lenders. 

  
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 “Permitted Equity Issuance” means any sale or issuance of any Qualified
Equity Interests of Holdings (and, after a Qualifying IPO, of the Company) to the extent permitted hereunder. 

“Permitted First Priority Refinancing Debt” means any secured Indebtedness incurred by the Company in the form of one or
more series of senior secured notes; 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 Secured Obligations and is not secured by any
property or assets of the Company or any Subsidiary other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans (including portions of Tranches of Term Loans or Other Term
Loans), (iii) such Indebtedness does not mature or have scheduled amortization or payments of principal prior to the date that is ninety-one (91) days after the Latest Maturity Date at the time such Indebtedness is incurred, (iv) the
security agreements relating to such Indebtedness are substantially the same as the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (v) such Indebtedness is not guaranteed by any
Subsidiaries other than the Subsidiary Guarantors and (vi) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to the First Lien Intercreditor Agreement; provided that if such Indebtedness
is the initial Permitted First Priority Refinancing Debt incurred by the Company, then the Company, the Subsidiary Guarantors, the Administrative Agent, the Collateral Agent and the Senior Representative for such Indebtedness shall have executed and
delivered the First Lien Intercreditor Agreement. Permitted First Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor. 
 “Permitted Holders” means the Equity Investors other than the Management Stockholders to the extent that the amount of the outstanding voting stock of Holdings owned beneficially or of
record by such Management Stockholders in the aggregate at any time exceeds ten percent (10%) of the total amount of the outstanding voting stock of Holdings at such time. 

“Permitted Holdings Debt” has the meaning specified in Section 7.03(r). 

“Permitted Refinancing” means, with respect to any Person, any modification, refinancing, refunding, renewal or
extension of any Indebtedness of such Person; provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so modified,
refinanced, refunded, renewed or extended except by an amount equal to unpaid accrued interest and premium thereon plus other reasonable amounts paid, and fees and expenses reasonably incurred, in connection with such modification, refinancing,
refunding, renewal or extension and by an amount equal to any existing commitments unutilized thereunder, (b) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to Section 7.03(e), such
modification, refinancing, refunding, renewal or extension has a final maturity date equal to or later than the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of,
the Indebtedness being 

  
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modified, refinanced, refunded, renewed or extended, (c) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to Section 7.03(e), at the time
thereof, no Event of Default shall have occurred and be continuing, and (d) if such Indebtedness being modified, refinanced, refunded, renewed or extended is Indebtedness permitted pursuant to Section 7.03(b), 7.03(v) or 7.13(a),
(i) to the extent such Indebtedness being modified, refinanced, refunded, renewed or extended is subordinated in right of payment to the Obligations, such modification, refinancing, refunding, renewal or extension is subordinated in right of
payment to the Obligations on terms at least as favorable to the Lenders as those contained in the documentation governing the Indebtedness being modified, refinanced, refunded, renewed or extended, (ii) the terms and conditions (including, if
applicable, as to collateral but excluding as to subordination, interest rate and redemption premium) of any such modified, refinanced, refunded, renewed or extended Indebtedness, taken as a whole, are not materially less favorable to the Loan
Parties or the Lenders than the terms and conditions of the Indebtedness being modified, refinanced, refunded, renewed or extended; provided that a certificate of a Responsible Officer delivered to the Administrative Agent at least five
Business Days 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 Company has
determined in good faith that such terms and conditions satisfy the foregoing requirement shall be conclusive evidence that such terms and conditions satisfy the foregoing requirement unless the Administrative Agent notifies the Company within such
five Business Day period that it disagrees with such determination (including a reasonable description of the basis upon which it disagrees) and (iii) such modification, refinancing, refunding, renewal or extension is incurred by the Person who
is the obligor of the Indebtedness being modified, refinanced, refunded, renewed or extended. 
 “Permitted Second
Priority Refinancing Debt” means secured Indebtedness incurred by the Company in the form of one or more series of second lien secured notes or second lien secured loans; provided that (i) such Indebtedness is secured by the
Collateral on a second lien, subordinated basis to the Secured Obligations and the obligations in respect of any Permitted First Priority Refinancing Debt and is not secured by any property or assets of the Company or any Subsidiary other than the
Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans (including portions of Tranches of Term Loans or Other Term Loans), (iii) such Indebtedness does not mature or have scheduled
amortization or payments of principal prior to the date that is ninety-one (91) days after the Latest Maturity Date at the time such Indebtedness is incurred, (iv) the security agreements relating to such Indebtedness are substantially the
same as the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (v) such Indebtedness is not guaranteed by any Subsidiaries other than the Subsidiary Guarantors and (vi) a Senior
Representative acting on behalf of the holders of such Indebtedness shall have become party to the Second Lien Intercreditor Agreement; provided that if such Indebtedness is the initial Permitted Second Priority Refinancing Debt incurred by
the Company, then the Company, the Subsidiary Guarantors, the Administrative Agent, the Collateral Agent and the Senior Representatives for such Indebtedness shall have executed and delivered the Second Lien Intercreditor Agreement. Permitted Second
Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor. 

  
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 “Permitted Unsecured Refinancing Debt” means unsecured Indebtedness
incurred by the Company in the form of one or more series of senior unsecured notes or loans; provided that (i) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans (including portions of
Tranches of Term Loans or Other Term Loans), (ii) such Indebtedness does not mature or have scheduled amortization or payments of principal prior to the date that is ninety-one (91) days after the Latest Maturity Date at the time such
Indebtedness is incurred, (iii) such Indebtedness is not guaranteed by any Subsidiaries other than the Subsidiary Guarantors and (iv) such Indebtedness is not secured by any Lien or any property or assets of the Company or any Subsidiary.
Permitted Unsecured Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any “employee benefit plan” (as
such term is defined in Section 3(3) of ERISA) established by any Loan Party or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate. 

“Pledged Debt” has the meaning specified in the Security Agreement. 

“Pledged Equity” has the meaning specified in the Security Agreement. 

“Post-Acquisition Period” means, with respect to any Permitted Acquisition, the period beginning on the date such
Permitted Acquisition is consummated and ending on the last day of the sixth full consecutive fiscal quarter immediately following the date on which such Permitted Acquisition is consummated. 

“Pre-IPO Period” means the period beginning on, and including, the AS Separation Date and ending on the first
date after the AS Separation Date on which a Qualifying IPO is consummated. 
 “Principal L/C Issuer”
means any L/C Issuer that has issued Letters of Credit having an aggregate Outstanding Amount in excess of $10,000,000. 

“Pro Forma Adjustment” means, for any Test Period that includes all or any part of a fiscal quarter included in any
Post-Acquisition Period, with respect to the Acquired EBITDA of the applicable Acquired Entity or Business or the Consolidated EBITDA of the Company, the pro forma increase or decrease in such Acquired EBITDA or such Consolidated EBITDA, as the case
may be, projected by the Company in good faith as a result of (a) actions taken during such Post-Acquisition Period for the purposes of realizing reasonably identifiable and factually supportable cost savings or (b) any additional costs
incurred during such Post-Acquisition Period, in each case in connection with the combination of the operations of such Acquired Entity or Business with the 

  
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operations of the Company and the Restricted Subsidiaries; provided that, so long as such actions are taken during such Post-Acquisition Period or such costs are incurred during such
Post-Acquisition Period, as applicable, the cost savings related to such actions or such additional costs, as applicable, it may be assumed, for purposes of projecting such pro forma increase or decrease to such Acquired EBITDA or such
Consolidated EBITDA, as the case may be, that such cost savings will be realizable during the entirety of such Test Period, or such additional costs, as applicable, will be incurred during the entirety of such Test Period; provided further
that any such pro forma increase or decrease to such Acquired EBITDA or such Consolidated EBITDA, as the case may be, shall be without duplication for cost savings or additional costs already included in such Acquired EBITDA or such
Consolidated EBITDA, as the case may be, for such Test Period. 
 “Pro Forma Basis”, “Pro Forma
Compliance” and “Pro Forma Effect” mean, with respect to compliance with any test or covenant hereunder, that (A) to the extent applicable, the Pro Forma Adjustment shall have been made and (B) all Specified
Transactions and the following transactions in connection therewith shall be deemed to have occurred as of the first day of the applicable period of measurement in such test or covenant: (a) income statement items (whether positive or negative)
attributable to the property or Person subject to such Specified Transaction, (i) in the case of a Disposition of all or substantially all Equity Interests in any Subsidiary of the Company or any division, product line, or facility used for
operations of the Company or any of its Subsidiaries, shall be excluded, and (ii) in the case of a Permitted Acquisition or Investment described in the definition of “Specified Transaction”, shall be included, (b) any retirement
of Indebtedness and (c) any Indebtedness incurred or assumed by the Company or any of the Restricted Subsidiaries in connection therewith and if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for the
applicable period for purposes of this definition determined by utilizing the rate which is or would be in effect with respect to such Indebtedness as at the relevant date of determination; provided that, without limiting the application of
the Pro Forma Adjustment pursuant to (A) above, the foregoing pro forma adjustments may be applied to any such test or covenant solely to the extent that such adjustments are consistent with the definition of Consolidated EBITDA and give effect
to events (including operating expense reductions) that are (i) (x) directly attributable to such transaction, (y) expected to have a continuing impact on the Company and the Restricted Subsidiaries and (z) factually supportable
or (ii) otherwise consistent with the definition of Pro Forma Adjustment. 
 “Pro Rata Share” means, with
respect to each Lender at any time, a fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which is the amount of the Commitments of such Lender under the applicable Facility or Facilities at such time and
the denominator of which is the amount of the Aggregate Commitments under the applicable Facility or Facilities at such time; provided that if such Commitments have been 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. 

  
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 “Projections” shall have the meaning set forth in Section 6.01(c).

 “Qualified Equity Interests” means any Equity Interests that are not Disqualified Equity Interests.

 “Qualifying IPO” means the issuance by Holdings, any direct or indirect parent of Holdings or the Company of
its common Equity Interests in an underwritten primary public offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to an effective registration statement filed with the SEC in accordance with the
Securities Act. 
 “Receivables Facility” means the trade receivables commercial paper co-purchase conduit
facility of the Company entered into on the Closing Date, together with any other receivables financings of Holdings, the Company or any of its Subsidiaries and any modification, refinancing, refunding, renewal or extension of, increase to or
incremental financing under, any of the foregoing. 
 “Receivables Subsidiary” means SunGard Financing LLC,
SunGard Funding LLC, SunGard Funding II LLC and any other direct or indirect Subsidiary of Holdings established in connection with the Receivables Facility which is not permitted by the terms of the Receivables Facility to guarantee the Obligations.

 “Refinanced U.S. Term Loans” has the meaning specified in Section 10.01. 

“Refinancing Amendment” means an amendment to this Agreement in form and substance reasonably satisfactory to the
Administrative Agent and the Company executed by each of (a) the Company and Holdings, (b) the Administrative Agent and (c) each Additional Lender and Lender that agrees to provide any portion of the Credit Agreement Refinancing
Indebtedness being incurred pursuant thereto, in accordance with Section 2.18. 
 “Register” has the
meaning set forth in Section 10.07(d). 
 “Registered Equivalent Notes” means, with respect to any notes
originally issued in a Rule 144A or other private placement transaction under the Securities Act of 1933, substantially identical notes (having the same Guarantees) issued in a dollar for dollar exchange therefor pursuant to an exchange offer
registered with the SEC. 
 “Replacement U.S. Term Loans” has the meaning specified in Section 10.01.

 “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA or the regulations
issued thereunder, other than events for which the thirty (30) day notice period has been waived. 

  
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 “Request for Credit Extension” means (a) with respect to a Borrowing,
conversion or continuation of U.S. Term Loans or Incremental Term Loans or Revolving Credit Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line
Loan, a Swing Line Loan Notice. 
 “Required Lenders” means, as of any date of determination, Lenders having
more than 50% of the sum of the (a) Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for
purposes of this definition), (b) aggregate unused Revolving Credit Commitments and (c) aggregate unused Incremental Term Commitments; provided that the unused Revolving Credit Commitment and unused Incremental Term Commitments of,
and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 
 “Responsible Officer” means the chief executive officer, president, vice president, chief financial officer, treasurer or assistant treasurer or other similar officer of a Loan Party. Any
document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such
Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 
 “Restated
Agreement” means this Agreement as amended and in effect immediately prior to the amendment and restatement hereof on the Fifth Amendment Effective Date pursuant to the Fifth Amendment. 

“Restatement Effective Date” shall mean the Amendment Effective Date as defined in the Amendment and Restatement
Agreement. 
 “Restricted Payment” means any dividend or other distribution (whether in cash, securities or
other property) with respect to any Equity Interest of Holdings, the Company or any Restricted Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase,
redemption, retirement, defeasance, acquisition, cancellation or termination of any such Equity Interest, or on account of any return of capital to Holdings or the Company’s stockholders, partners or members (or the equivalent Persons thereof).

 “Restricted Subsidiary” means any Subsidiary of the Company other than an Unrestricted Subsidiary.

 “Revolving Commitment Increase” has the meaning set forth in Section 2.15(a). 

“Revolving Commitment Increase Lender” has the meaning set forth in Section 2.15(a). 

  
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 “Revolving Credit Borrowing” means a borrowing consisting of simultaneous
Revolving Credit Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(d). 

“Revolving Credit Commitment” means, as to each Revolving Credit Lender, its obligation to (a) make Revolving
Credit Loans to the Borrower pursuant to Section 2.01(d), (b) purchase participations in L/C Obligations in respect of Letters of Credit and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one
time outstanding not to exceed the amount set forth, and opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or in the Assignment and Assumption pursuant to which such Lender becomes a party
hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The aggregate amount of the Revolving Credit Commitments on the Fifth Amendment Effective Date is $880,000,000. 

“Revolving Credit Exposure” means, as to each Revolving Credit Lender, the sum of the outstanding principal amount of
such Revolving Credit Lender’s Revolving Credit Loans and its Pro Rata Share of the L/C Obligations in respect of Letters of Credit and the Swing Line Obligations at such time. 

“Revolving Credit Facility” means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving
Credit Commitments at such time. 
 “Revolving Credit Lender” means, at any time, any Lender that has a
Revolving Credit Commitment at such time. 
 “Revolving Credit Loan” means a Revolving Credit Loan made
pursuant to Section 2.01(d) or deemed made in accordance with the provisions of Section 2.07(f) by a Revolving Credit Lender pursuant to its Revolving Credit Commitment. 

“Revolving Credit Note” means a promissory note of the Borrower payable to any Revolving Credit Lender or its registered
assigns, in substantially the form of Exhibit C-4 hereto, evidencing the aggregate Indebtedness of the Borrower to such Revolving Credit Lender resulting from the Revolving Credit Loans made by such Revolving Credit Lender. 

“Rollover Amount” has the meaning set forth in Section 7.16(b). 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and any
successor thereto. 
 “Same Day Funds” means with respect to disbursements and payments, immediately available
funds. 
 “SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any
of its principal functions. 

  
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 “Second Lien Intercreditor Agreement” means the Second Lien Intercreditor
Agreement substantially in the form of Exhibit O among the Administrative Agent, the Collateral Agent and one or more Senior Representatives for holders of Permitted Second Priority Refinancing Debt, with such modifications thereto as the
Administrative Agent may reasonably agree. 
 “Second Refinancing Amendment” means the Second Refinancing and
Incremental Amendment to this Agreement dated as of March 11, 2011, among Holdings, the Borrower, the Revolving Credit Lenders party thereto and the Administrative Agent. 

“Second Refinancing Amendment Effective Date” has the meaning assigned thereto in the Second Refinancing Amendment.

 “Secured Hedge Agreement” means any Swap Contract permitted under Article 7 that is entered into by and
between any Loan Party or any Restricted Subsidiary and any Hedge Bank. 
 “Secured Obligations” has the
meaning specified in the Security Agreement. 
 “Secured Parties” means, collectively, the Administrative
Agent, the Lenders, the Hedge Banks, the Supplemental Administrative Agent and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.01(c). 

“Securities Act” means the Securities Act of 1933. 

“Security Agreement” means, collectively, the Security Agreement executed by the Loan Parties and attached hereto as
Exhibit G, together with each other security agreement supplement executed and delivered pursuant to Section 6.11. 

“Security Agreement Supplement” has the meaning specified in the Security Agreement. 

“Senior Notes” means, collectively, (a) $900,000,000 in aggregate principal amount of the Company’s 7 3/8%
senior unsecured notes due 2018 and (b) $700,000,000 in aggregate principal amount of the Company’s 7.625% senior unsecured notes due 2020. 
 “Senior Notes Indenture” means the Indenture for the Senior Notes, dated as of November 15, 2010. 
 “Senior Subordinated Notes” means $1,000,000,000 in aggregate principal amount of the Company’s 10.25% senior subordinated notes due 2015. 

“Senior Subordinated Notes Indenture” means the Indenture for the Senior Subordinated Notes, dated as of August 11,
2005. 

  
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 “Senior Representative” means, with respect to any series of Permitted
First Priority Refinancing Debt or Permitted Second Priority Refinancing Debt, 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. 
 “Sold Entity or
Business” has the meaning set forth in the definition of the term “Consolidated EBITDA”. 

“Solvent” and “Solvency” mean, with respect to any Person on any date of determination, that on such
date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the
amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such
Person’s ability to pay such debts and liabilities as they mature and (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would
constitute an unreasonably small capital. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be
expected to become an actual or matured liability. 
 “SPC” has the meaning specified in Section 10.07(h).

 “Specified Transaction” means, with respect to any period, any Investment, Disposition, incurrence or
repayment of Indebtedness, Restricted Payment, Subsidiary designation, Incremental Term Loan or Revolving Commitment Increase that by the terms of this Agreement requires “Pro Forma Compliance” with a test or covenant hereunder or requires
such test or covenant to be calculated on a “Pro Forma Basis”. 
 “Sponsors” means Silver Lake
Partners, Bain Capital Partners, LLC, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co., Providence Equity Partners Inc., Texas Pacific Group, The Blackstone Group, and their Affiliates, but not including, however, any portfolio
companies of any of the foregoing. 
 “Sponsor Management Agreement” means the Management Agreement between
certain of the management companies associated with the Sponsors and the Company. 
 “Sponsor Termination Fees”
means the one-time payment under the Sponsor Management Agreement of a termination fee to one or more of the Sponsors and their Affiliates in the event of either a Change of Control or the completion of a Qualifying IPO. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business
entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or 

  
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other governing body (other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is
otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or
Subsidiaries of the Company. 
 “Subsidiary Guarantor” means, collectively, the Subsidiaries of the Company
that are Guarantors. 
 “Subsidiary Guaranty” means, collectively, (a) the Subsidiary Guaranty made by the
Subsidiary Guarantors in favor of the Administrative Agent on behalf of the Secured Parties and attached hereto as Exhibit F-2 and (b) each other guaranty and guaranty supplement delivered pursuant to Section 6.11. 

“Successor Company” has the meaning specified in Section 7.04(d). 

“Successor Holding Company” has the meaning specified in Section 7.04(h). 

“SunGard” has the meaning specified in the introductory paragraph to this Agreement. 

“SunGard Short Term Notes” means notes issued by the Company to investment banks or other investors that are anticipated
to be exchanged for AS Spinco Securities pursuant to the AS Exchange Agreement and having a maturity of at least 30 days but not more than 45 days (or such other maturity as may be required by the IRS pursuant to the AS Separation IRS Ruling).

 “Supplemental Administrative Agent” has the meaning specified in Section 9.13 and “Supplemental
Administrative Agents” shall have the corresponding meaning. 
 “Swap Contract” means (a) any and all
rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or
options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency
rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or
subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps
and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such
obligations or liabilities under any Master Agreement. 

  
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 “Swap Termination Value” means, in respect of any one or more Swap
Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in
accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market
or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 
 “Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.04. 
 “Swing Line Facility” means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04. 

“Swing Line Lender” means JPMorgan Chase Bank, in its capacity as provider of Swing Line Loans, or any successor swing
line lender hereunder. 
 “Swing Line Loan” has the meaning specified in Section 2.04(a). 

“Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.04(b), which, if in
writing, shall be substantially in the form of Exhibit B. 
 “Swing Line Obligations” means, as at any date of
determination, the aggregate principal amount of all Swing Line Loans outstanding. 
 “Swing Line Sublimit”
means an amount equal to the lesser of (a) $20,000,000 and (b) the aggregate amount of the Revolving Credit Commitments. The Swing Line Sublimit is part of, and not in addition to, the Revolving Credit Commitments. 

“Syndication Agents” means Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley Senior
Funding, Inc., as Syndication Agents under this Agreement. 
 “Taxes” has the meaning specified in
Section 3.01(a). 
 “Term Borrowing” means a borrowing consisting of simultaneous Term Loans of the same
Type and Class and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by the Term Lenders of such Class pursuant to Section 2.01. 
 “Term Commitment” means an Incremental Term Commitment. 

  
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 “Term Lender” means a U.S. Term Lender or an Incremental
Term Lender, as the context may require. 
 “Term Loan” means a U.S. Term Loan, an Incremental Term Loan
or an Other Term Loan, as the context may require. 
 “Term Note” means a U.S. Term Note or an Incremental Term
Note, as the context may require. 
 “Test Period” means, for any determination under this Agreement, the four
consecutive fiscal quarters of the Company then last ended. 
 “Threshold Amount” means $50,000,000.

 “Total Leverage Ratio” means, with respect to any Test Period, the ratio of (a) Consolidated Total Debt
as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period. 
 “Total
Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C Obligations. 
 “Total Secured
Leverage Ratio” means, on any date, the ratio of (a) Consolidated Total Secured Debt on such date to (b) Consolidated EBITDA for the most recent Test Period. 

“Tranche” means a category of Commitments or Credit Extensions thereunder. For purposes hereof, each of the following
comprises a separate Tranche: (a) the unused Revolving Credit Commitments, (b) the outstanding Revolving Credit Loans and L/C Obligations in respect of Letters of Credit, (c) the outstanding Tranche A U.S. Term Loans, (d) the
outstanding Tranche B U.S. Term Loans, (e) the outstanding Tranche C Term Loans, (f) the outstanding Tranche D Term Loans and (g) the outstanding Incremental Term Loans, if any. 

“Tranche A U.S. Term Lender” means at any time, any Lender that has a Tranche A U.S. Term Loan at such time. 

“Tranche A U.S. Term Loan” means a Tranche A U.S. Term Loan made pursuant to the First Amendment and outstanding
hereunder immediately prior to the Fourth Amendment Effective Date that shall not have been converted into a Tranche C Term Loan on the Fourth Amendment Effective Date. 
 “Tranche B U.S. Term Lender” means at any time, any Lender that has a Tranche B U.S. Term Loan at such time. 
 “Tranche B U.S. Term Loan” means a Tranche B U.S. Term Loan made pursuant to Section 2.01(a). 

  
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 “Tranche C Term Lender” means at any time, any Lender that has a Tranche C
Term Loan at such time. 
 “Tranche C Term Loan” means a Tranche A U.S. Term Loan or an Incremental Term Loan
that was converted to a “Tranche C Term Loan” on the Fourth Amendment Effective Date pursuant to the Fourth Amendment. 
 “Tranche D Term Lender” means at any time, any Lender that has a Tranche D Term Loan at such time. 
 “Tranche D Term Loan” means a Tranche D Term Loan made pursuant to Section 2.01(a) on the Fifth Amendment Effective Date. 

“Transaction” means, collectively, (a) the Equity Contributions, (b) the Merger, (c) the issuance of the
New Notes, (d) the funding of the Term Loans and up to $250,000,000 of Revolving Credit Loans on the Closing Date, (e) the funding of the Receivables Facility on the Closing Date, (f) the consummation of any other transactions in
connection with the foregoing and (g) the payment of the fees and expenses incurred in connection with any of the foregoing. 
 “Transaction Documents” means the Merger Agreement and all other material documents, instruments and certificates contemplated by the Merger Agreement. 

“Transaction Expenses” means any fees or expenses incurred or paid by Holdings, the Company or any Restricted Subsidiary
in connection with the Transaction, this Agreement and the other Loan Documents and the transactions contemplated hereby and thereby. 
 “Type” means, with respect to a Loan, its character as a Base Rate Loan or a Eurocurrency Rate Loan. 
 “Uniform Commercial Code” means the Uniform Commercial Code as the same may from time to time be in effect in the State of New York or the Uniform Commercial Code (or similar code or
statute) of another jurisdiction, to the extent it may be required to apply to any item or items of Collateral. 

“United States” and “U.S.” mean the United States of America. 

“Unreimbursed Amount” has the meaning set forth in Section 2.03(c)(i). 

“Unrestricted Subsidiary” means (i) each Subsidiary of the Company listed on Schedule 1.01C and (ii) any
Subsidiary of the Company designated by the board of directors of Holdings as an Unrestricted Subsidiary pursuant to Section 6.15 subsequent to the Closing Date. 
 “U.S. Lender” has the meaning set forth in Section 10.15(b). 

  
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 “U.S. Term Lenders” means, collectively, the Tranche A U.S. Term
Lenders, the Tranche B U.S. Term Lenders, the Tranche C Term Lenders and the Tranche D Term Lenders. 
 “U.S.
Term Loans” means, collectively, the Tranche A U.S. Term Loans, the Tranche B U.S. Term Loans, the Tranche C Term Loans and the Tranche D Term Loans. 
 “U.S. Term Note” means a promissory note of the Company payable to any U.S. Term Lender or its registered assigns, in substantially the form of Exhibit C-1 hereto, evidencing the
aggregate Indebtedness of the Company to such U.S. Term Lender resulting from the U.S. Term Loans made by such U.S. Term Lender. 
 “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (i) the sum of the products obtained by multiplying
(a) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest
one-twelfth) that will elapse between such date and the making of such payment; by (ii) the then outstanding principal amount of such Indebtedness. 
 “wholly owned” means, with respect to a Subsidiary of a Person, a Subsidiary of such Person all of the outstanding Equity Interests of which (other than (x) director’s
qualifying shares and (y) shares issued to foreign nationals to the extent required by applicable Law) are owned by such Person and/or by one or more wholly owned Subsidiaries of such Person. 

SECTION 1.02. Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise
specified herein or in such other Loan Document: 
 (a) The meanings of defined terms are equally applicable to
the singular and plural forms of the defined terms. 
 (b) (i) The words “herein,”
“hereto,” “hereof” and “hereunder” and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof. 

(ii) Article, Section, Exhibit and Schedule references are to the Loan Document in which such reference appears.

 (iii) The term “including” is by way of example and not limitation. 

(iv) The term “documents” includes any and all instruments, documents, agreements, certificates, notices,
reports, financial statements and other writings, however evidenced, whether in physical or electronic form. 

  
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 (c) In the computation of periods of time from a specified date to a later
specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.” 

(d) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall
not affect the interpretation of this Agreement or any other Loan Document. 
 SECTION 1.03. Accounting Terms.
(a) All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this
Agreement shall be prepared in conformity with, GAAP, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. 

(b) Notwithstanding anything to the contrary herein, for purposes of determining compliance with any test or covenant
contained in this Agreement with respect to any period during which any Specified Transaction occurs, the Total Leverage Ratio and Interest Coverage Ratio shall be calculated with respect to such period and such Specified Transaction on a Pro Forma
Basis. 
 SECTION 1.04. Rounding. Any financial ratios required to be maintained by the Company pursuant to this
Agreement (or required to be satisfied in order for a specific action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of
places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 
 SECTION 1.05. References to Agreements, Laws, Etc. Unless otherwise expressly provided herein, (a) references to Organization Documents, agreements (including the Loan Documents) and other
contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements and other
modifications are permitted by any Loan Document; and (b) references to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Law. 

SECTION 1.06. Times of Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern time
(daylight or standard, as applicable). 
 SECTION 1.07. Timing of Payment of Performance. When the payment of any
obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of Interest Period) or
performance shall extend to the immediately succeeding Business Day. 

  
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 SECTION 1.08. Currency Equivalents Generally. (a) Any amount specified in this
Agreement (other than in Articles 2, 9 and 10 or as set forth in paragraph (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 applicable 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 Company, 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 10:00 a.m. (New York City time) on such date for the purchase
of Dollars for delivery two Business Days later). Notwithstanding the foregoing, for purposes of determining compliance with Sections 7.01, 7.02 and 7.03 with respect to any amount of Indebtedness or Investment in a currency other than Dollars,
no Default shall be deemed to have occurred solely as a result of changes in rates of exchange occurring after the time such Indebtedness or Investment is incurred; provided that, for the avoidance of doubt, the foregoing provisions of this
Section 1.08 shall otherwise apply to such Sections, including with respect to determining whether any Indebtedness or Investment may be incurred at any time under such Sections. 

(b) For purposes of determining compliance under Sections 7.02, 7.05, 7.06, 7.11 and 7.16, any amount in a currency other
than Dollars will be converted to Dollars based on the average Exchange Rate for such currency for the most recent twelve-month period immediately prior to the date of determination determined in a manner consistent with that used in calculating
EBITDA for the applicable period; provided, however, that the foregoing shall not be deemed to apply to the determination of any amount of Indebtedness. 
 SECTION 1.09. Change of Currency. Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify with the
Company’s consent to appropriately reflect a change in currency of any country and any relevant market conventions or practices relating to such change in currency. 
 ARTICLE II 
 The Commitments and Credit Extensions 

SECTION 2.01. The Loans. (a) The U.S. Term Borrowings. Holdings, the Company and the Lenders acknowledge (i) the
making of Tranche A U.S. Term Loans and Tranche B U.S. Term Loans, in each case pursuant to Section 2.01(a) of the Original Agreement, (ii) the making of Incremental Term Loans pursuant to the First Refinancing Amendment, (iii) the
conversion of a portion of the Tranche A U.S. Term 

  
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Loans (as defined in the Original Agreement) and Incremental Term Loans (as defined in the Original Agreement) into Tranche C Term Loans pursuant to the Fourth Amendment and (iv) the making
of Tranche D Term Loans pursuant to the Fifth Amendment. Holdings, the Company and the Lenders acknowledge and agree that, on and after the Fifth Amendment Effective Date all Tranche A U.S. Term Loans, Incremental Term Loans, Tranche B U.S. Term
Loans and Tranche C Term Loans shall continue to be outstanding as such, in each case pursuant to the terms and conditions of this Agreement and the other Loan Documents. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not
be reborrowed. U.S. Term Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein. 

(b) [Reserved]. 
 (c) [Reserved]. 
 (d) The Revolving Credit Borrowings.
Subject to the terms and conditions set forth herein (i) each Revolving Credit Lender severally agrees to make loans denominated in Dollars (each such loan, a “Revolving Credit Loan”) to the Borrower as elected by the Borrower
pursuant to Section 2.02 from time to time, on any Business Day until the Maturity Date with respect to its Revolving Credit Commitment, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving
Credit Commitment; provided that after giving effect to any Revolving Credit Borrowing, the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C
Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Credit Commitment. Within the limits of each Lender’s Revolving Credit Commitment, and subject
to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(d), prepay under Section 2.05 and reborrow under this Section 2.01(d). Revolving Credit Loans may be Base Rate Loans or Eurocurrency Rate Loans,
as further provided herein. 
 SECTION 2.02. Borrowings, Conversions and Continuations of Loans. (a) Each Term
Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurocurrency Rate Loans shall be made upon the Borrower’s irrevocable notice to the
Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 12:30 p.m. (New York, New York time) (i) three (3) Business Days prior to the requested date of any
Borrowing or continuation of Eurocurrency Rate Loans or any conversion of Base Rate Loans to Eurocurrency Rate Loans, and (ii) one (1) Business Day before the requested date of any Borrowing of Base Rate Loans. Each telephonic notice by
the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of,
conversion to or continuation of Eurocurrency Rate Loans shall be in a principal amount of $5,000,000 or a whole 

  
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multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 or a
whole multiple of $500,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of U.S. Term Loans of a
particular Tranche or Incremental Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurocurrency Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which
shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Term Loans or Revolving Credit Loans are to be converted and (v) if
applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or fails to give a timely notice requesting a conversion or continuation, then the applicable Term Loans
or Revolving Credit Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency
Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one
(1) month. 
 (b) Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly
notify each Lender of the amount of its Pro Rata Share of the applicable Class of Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any
automatic conversion to Base Rate Loans or continuation described in Section 2.02(a). In the case of each Borrowing, each Appropriate Lender shall make the amount of its Loan available to the Administrative Agent in Same Day Funds at the
Administrative Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02, the Administrative Agent shall make all
funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the books of JPMorgan Chase Bank with the amount of such funds or (ii) wire transfer
of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided that if, on the date the Committed Loan Notice with respect to such Borrowing is given
by the Borrower, there are Swing Line Loans or L/C Borrowings outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such L/C Borrowings, second, to the payment in full of any such Swing Line Loans,
and third, to the Borrower as provided above. 
 (c) Except as otherwise provided herein, a Eurocurrency Rate
Loan may be continued or converted only on the last day of an Interest Period for such Eurocurrency Rate Loan unless the Company pays the amount due, if any, under Section 3.05 in connection therewith. During the existence of an Event of
Default, the Administrative Agent or the Required Lenders may require that no Loans may be converted to or continued as Eurocurrency Rate Loans. 

  
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 (d) The Administrative Agent shall promptly notify the Borrower and the
Lenders of the interest rate applicable to any Interest Period for Eurocurrency Rate Loans upon determination of such interest rate. The determination of the Eurocurrency Rate by the Administrative Agent shall be conclusive in the absence of
manifest error. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in JPMorgan Chase Bank prime rate used in determining the Base Rate promptly following the public
announcement of such change. 
 (e) After giving effect to all Term Borrowings, all Revolving Credit Borrowings,
all conversions of Term Loans or Revolving Credit Loans from one Type to the other, and all continuations of Term Loans or Revolving Credit Loans as the same Type, there shall not be more than twenty (20) Interest Periods in effect. 

(f) The failure of any Lender to make the Loan to be made by it as part of any Borrowing shall not relieve any other
Lender of its obligation, if any, hereunder to make its Loan on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Loan to be made by such other Lender on the date of any Borrowing.

 SECTION 2.03. Letters of Credit. (a) The Letter of Credit Commitment. (i) On and after the Fourth
Amendment Effective Date the Existing Letters of Credit will constitute Letters of Credit under this Agreement and for purposes hereof will be deemed to have been issued on the Fourth Amendment Effective Date. Subject to the terms and conditions set
forth herein, (A) each L/C Issuer agrees, in reliance upon the agreements of the other Revolving Credit Lenders set forth in this Section 2.03, (1) from time to time on any Business Day during the period from the Fourth Amendment
Effective Date until the Letter of Credit Expiration Date, to issue Letters of Credit denominated in Dollars for the account of the Company (provided that any Letter of Credit may be for the benefit of any Subsidiary of the Company) and to
amend or renew Letters of Credit previously issued by it, in accordance with Section 2.03(b), and (2) to honor drafts under the Letters of Credit and (B) the Revolving Credit Lenders severally agree to participate in Letters of Credit
issued pursuant to this Section 2.03; provided that no L/C Issuer shall be obligated to make any L/C Credit Extension with respect to any Letter of Credit, and no Lender shall be obligated to participate in any Letter of Credit if as of
the date of such L/C Credit Extension, (x) the Revolving Credit Exposure of any Lender would exceed such Lender’s Revolving Credit Commitment or (y) the Outstanding Amount of the L/C Obligations would exceed the Letter of Credit
Sublimit. Within the foregoing limits, and subject to the terms and conditions hereof, the Company’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Company may, during the foregoing period, obtain Letters of
Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. In connection with the AS Separation Transactions, any L/C Issuer hereunder that is also an issuing bank in respect of any credit facility of AS
Spinco or any 

  
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of the AS Subsidiaries on or after the AS Separation Date may give notice to the Administrative Agent and the L/C Issuers that any Letter of Credit issued hereunder for the benefit of any AS
Subsidiary will, from and after the AS Separation Date, be deemed to be a letter of credit issued under such credit facility of AS Spinco or any of the AS Subsidiaries and no longer be outstanding as a Letter of Credit hereunder. 

(ii) An L/C Issuer shall be under no obligation to issue any Letter of Credit if: 

(A) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or
restrain such L/C Issuer from issuing such Letter of Credit, or any Law applicable to such L/C Issuer or any directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such L/C Issuer shall prohibit, or
direct that such L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon such L/C Issuer with respect to such Letter of Credit any restriction, reserve or capital requirement
(for which such L/C Issuer is not otherwise compensated hereunder) not in effect on the Fourth Amendment Effective Date, or shall impose upon such L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Fourth Amendment
Effective Date (for which such L/C Issuer is not otherwise compensated hereunder); 
 (B) subject to
Section 2.03(b)(iii), the expiry date of such requested Letter of Credit would occur more than twelve months after the date of issuance or last renewal, unless the Required Lenders have approved such expiry date; 

(C) the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all
the Revolving Credit Lenders have approved such expiry date; 
 (D) the issuance of such Letter of Credit would
violate any Laws binding upon such L/C Issuer; or 
 (E) such Letter of Credit is in an initial amount less than
$100,000, in the case of a commercial Letter of Credit, or $100,000, in the case of a standby Letter of Credit. 

(iii) An L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) such L/C Issuer would have no
obligation at such time to issue such Letter of Credit in its amended form under the terms hereof or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit. 

(b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Renewal Letters of Credit.
(i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Company delivered to an 

  
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L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Company. Such Letter of
Credit Application must be received by the relevant L/C Issuer and the Administrative Agent not later than 12:30 p.m. at least two (2) Business Days prior to the proposed issuance date or date of amendment, as the case may be; or, in each case,
such later date and time as the relevant L/C Issuer may agree in a particular instance in its sole discretion. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and
detail reasonably satisfactory to the relevant L/C Issuer: (a) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (b) the amount thereof; (c) the expiry date thereof; (d) the name and
address of the beneficiary thereof; (e) the documents to be presented by such beneficiary in case of any drawing thereunder; (f) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and
(g) such other matters as the relevant L/C Issuer may reasonably request. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory
to the relevant L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the
relevant L/C Issuer may reasonably request. 
 (ii) Promptly after receipt of any Letter of Credit Application,
the relevant L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Company and, if not, such L/C Issuer will provide
the Administrative Agent with a copy thereof. Upon receipt by the relevant L/C Issuer of confirmation from the Administrative Agent that the requested issuance or amendment is permitted in accordance with the terms hereof, then, subject to the terms
and conditions hereof, such L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of the Company or enter into the applicable amendment, as the case may be. Immediately upon the issuance of each Letter of Credit, each
Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the relevant L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Pro Rata
Share times the amount of such Letter of Credit. 
 (iii) If the Company so requests in any applicable Letter of
Credit Application, the relevant L/C Issuer shall agree to issue a Letter of Credit that has automatic renewal provisions (each, an “Auto-Renewal Letter of Credit”); provided that any such Auto-Renewal Letter of Credit must
permit the relevant L/C Issuer to prevent any such renewal at least once in each twelve month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the
“Nonrenewal Notice Date”) in each such twelve month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the relevant L/C Issuer, the Company shall not be required to make a specific
request to the relevant L/C 

  
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Issuer for any such renewal. Once an Auto-Renewal Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the relevant L/C Issuer to permit the
renewal of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided that the relevant L/C Issuer shall not permit any such renewal if (A) the relevant L/C Issuer has determined
that it would have no obligation at such time to issue such Letter of Credit in its renewed form under the terms hereof (by reason of the provisions of Section 2.03(a)(ii) or otherwise) or (B) it has received notice (which may be by
telephone or in writing) on or before the day that is five (5) Business Days before the Nonrenewal Notice Date from the Administrative Agent, any Revolving Credit Lender or the Borrower that one or more of the applicable conditions specified in
Section 4.02 is not then satisfied. 
 (iv) Promptly after its delivery of any Letter of Credit or any
amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the relevant L/C Issuer will also deliver to the Company and the Administrative Agent a true and complete copy of such Letter of Credit or
amendment. 
 (c) Drawings and Reimbursements; Funding of Participations. (i) Upon receipt
from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the relevant L/C Issuer shall notify promptly the Company and the Administrative Agent thereof. Not later than 11:00 a.m. on the Business Day
immediately following any payment by an L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), the Company shall reimburse such L/C Issuer through the Administrative Agent in an amount equal to the amount of such
drawing. If the Company fails to so reimburse such L/C Issuer by such time, the Administrative Agent shall promptly notify each Appropriate Lender of the Honor Date, the amount of the unreimbursed drawing (expressed in Dollars) (the
“Unreimbursed Amount”) and the amount of such Appropriate Lender’s Pro Rata Share thereof. In such event, the Company shall be deemed to have requested a Revolving Credit Borrowing of Base Rate Loans to be disbursed on the
Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans but subject to the amount of the unutilized portion of the Revolving
Credit Commitments of the Appropriate Lenders and the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan Notice). Any notice given by an L/C Issuer or the Administrative Agent pursuant to this
Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 

(ii) Each Appropriate Lender (including any Lender acting as an L/C Issuer) shall upon any notice pursuant to
Section 2.03(c)(i) make funds available to the Administrative Agent for the account of the relevant L/C Issuer, in Dollars, at the Administrative Agent’s Office for payments in an amount equal to its Pro Rata Share of the Unreimbursed
Amount not later than 1:00 p.m. on the Business 

  
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Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Appropriate Lender that so makes funds available shall be deemed
to have made a Base Rate Loan to the Company in such amount. The Administrative Agent shall remit the funds so received to the relevant L/C Issuer. 
 (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a Revolving Credit Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot be satisfied or
for any other reason, the Company shall be deemed to have incurred from the relevant L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand
(together with interest) and shall bear interest at the Default Rate. In such event, each Appropriate Lender’s payment to the Administrative Agent for the account of the relevant L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed
payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation obligation under this Section 2.03. 

(iv) Until each Appropriate Lender funds its Revolving Credit Loan or L/C Advance pursuant to this Section 2.03(c) to
reimburse the relevant L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Pro Rata Share of such amount shall be solely for the account of the relevant L/C Issuer. 

(v) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or L/C Advances to reimburse an L/C
Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), 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 relevant L/C Issuer, the 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 that each Revolving Credit Lender’s obligation to make Revolving Credit Loans pursuant to this Section 2.03(c) is subject to the conditions set forth in Section 4.02 (other than
delivery by the Borrower of a Committed Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the relevant L/C Issuer for the amount of any payment made by such L/C Issuer under
any Letter of Credit, together with interest as provided herein. 
 (vi) If any Revolving Credit Lender fails to
make available to the Administrative Agent for the account of the relevant L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii),
such L/C Issuer 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 

  
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available to such L/C Issuer at a rate per annum equal to the Overnight Rate from time to time in effect. A certificate of the relevant L/C Issuer submitted to any Revolving Credit Lender
(through the Administrative Agent) with respect to any amounts owing under this Section 2.03(c)(vi) shall be conclusive absent manifest error. 
 (d) Repayment of Participations. (i) If, at any time after an L/C Issuer has made a payment under any Letter of Credit and has received from any Revolving Credit Lender such Lender’s L/C
Advance in respect of such payment in accordance with Section 2.03(c), the Administrative Agent receives for the account of such L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the
Company or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Pro Rata Share thereof (appropriately adjusted, in the case of interest payments,
to reflect the period of time during which such Lender’s L/C Advance was outstanding) in the same funds as those received by the Administrative Agent. 
 (ii) If any payment received by the Administrative Agent for the account of an L/C Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in
Section 10.06 (including pursuant to any settlement entered into by such L/C Issuer in its discretion), each Appropriate Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share thereof on demand of the
Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Lender, at a rate per annum equal to the Overnight Rate from time to time in effect. 

(e) Obligations Absolute. The obligation of the Company to reimburse the relevant L/C Issuer for each drawing under
each Letter of Credit issued by it and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:

 (i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other agreement or
instrument relating thereto; 
 (ii) the existence of any claim, counterclaim, setoff, defense or other right
that any Loan Party may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the relevant L/C Issuer or any other Person, whether in
connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

  
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 (iii) any draft, demand, certificate or other document presented under such
Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to
make a drawing under such Letter of Credit; 
 (iv) any payment by the relevant L/C Issuer under such Letter of
Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the relevant L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in
bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any
proceeding under any Debtor Relief Law; 
 (v) any exchange, release or nonperfection of any Collateral, or any
release or amendment or waiver of or consent to departure from the Guaranty or any other guarantee, for all or any of the Obligations any Loan Party in respect of such Letter of Credit; or 

(vi) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, any Loan Party; 
 provided that the foregoing
shall not excuse any L/C Issuer from liability to the Company to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are waived by the Company to the extent permitted by applicable Law) suffered by the
Company that are caused by such L/C Issuer’s gross negligence or willful misconduct when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. 

(f) Role of L/C Issuers. Each Lender and the Company agree that, in paying any drawing under a Letter of Credit,
the relevant L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any
such document or the authority of the Person executing or delivering any such document. None of the L/C Issuers, any Agent-Related Person nor any of the respective correspondents, participants or assignees of any L/C Issuer shall be liable to any
Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful
misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Letter of Credit Application. The Company hereby assumes all risks of the acts or omissions of
any beneficiary or transferee with respect to its use of any Letter of Credit; provided that this assumption is not intended to, and shall not, preclude the Company’s pursuing such rights and remedies as it may have against the
beneficiary or transferee at law or under any other agreement. None of the L/C Issuers, any Agent-Related Person, nor any of 

  
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the respective correspondents, participants or assignees of any L/C Issuer, shall be liable or responsible for any of the matters described in clauses (i) through (vi) of
Section 2.03(e); provided that anything in such clauses to the contrary notwithstanding, the Company may have a claim against an L/C Issuer, and such L/C Issuer may be liable to the Company, to the extent, but only to the extent, of any
direct, as opposed to consequential or exemplary, damages suffered by the Company which the Company proves were caused by such L/C Issuer’s willful misconduct or gross negligence or such L/C Issuer’s willful or grossly negligent
failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the
foregoing, each L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and no L/C Issuer shall be responsible for the
validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective
for any reason. 
 (g) Cash Collateral. (i) If an L/C Issuer 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 4.02 to a Revolving Credit 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 Company to Cash
Collateralize the L/C Obligations pursuant to Section 8.02(c) or (iv) an Event of Default set forth under Section 8.01(f) occurs and is continuing, then the Company 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) the Business Day that the Company receives notice thereof, if such notice is received on such day prior to 12:00 Noon, New York City time, or (2) if clause
(1) above does not apply, the Business Day immediately following the day that the Company receives 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 8.01(f) occurs or, if such day is not a Business Day, the Business Day immediately succeeding such day. For purposes hereof, “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent,
for the benefit of the relevant L/C Issuer 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 and the relevant L/C Issuer (which documents are hereby consented to by the Lenders). Derivatives of such term have corresponding meanings. The Company hereby grants to the Administrative Agent, for the


  
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benefit of the L/C Issuers 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 blocked accounts at JPMorgan Chase Bank and may be invested in readily available Cash Equivalents. If at any time the Administrative Agent 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, the Company will, forthwith upon demand by the Administrative Agent, pay to
the Administrative Agent, as additional funds to be deposited and held in the deposit accounts at JPMorgan Chase Bank 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 L/C Issuer. 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 Company. 
 (h) Letter of Credit Fees. The
Company shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Pro Rata Share of the Revolving Credit Commitments, a Letter of Credit fee for each Letter of Credit issued pursuant to this
Agreement equal to the Applicable Rate times the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases
periodically pursuant to the terms of such Letter of Credit); provided that no such letter of credit fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Such
letter of credit fees shall be computed on a quarterly basis in arrears. Such letter of credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first
such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in the Applicable Rate during any quarter, the daily maximum amount of each Letter of Credit
shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. 
 (i) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuers. The Company shall pay directly to each L/C Issuer for its own account a fronting fee with respect to each Letter of
Credit issued by it equal to 0.125% per annum of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases
periodically pursuant to the terms of such Letter of Credit). Such fronting fees shall be computed on a quarterly basis in arrears. Such fronting fees shall be due and 

  
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payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the
Letter of Credit Expiration Date and thereafter on demand. In addition, the Company shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and
charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable within ten (10) Business Days of demand and are nonrefundable. 

(j) Conflict with Letter of Credit Application. Notwithstanding anything else to the contrary in this Agreement, in
the event of any conflict between the terms hereof and the terms of any Letter of Credit Application, the terms hereof shall control. 
 (k) Addition of an L/C Issuer. A Revolving Credit Lender may become an additional L/C Issuer hereunder pursuant to a written agreement among the Borrower, the Administrative Agent and such
Revolving Credit Lender. The Administrative Agent shall notify the Revolving Credit Lenders of any such additional L/C Issuer. 

SECTION 2.04. Swing Line Loans. (a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing
Line Lender agrees to make loans (each such loan, a “Swing Line Loan”) to the Company from time to time on any Business Day until the Maturity Date with respect to the Revolving Credit Commitments in an aggregate amount not to
exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Pro Rata Share of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Lender
acting as Swing Line Lender, may exceed the amount of such Lender’s Revolving Credit Commitment; provided that, after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender,
plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Credit Commitment then in
effect; provided further that, the Company shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits, and subject to the other terms and conditions hereof, the Company may
borrow under this Section 2.04, prepay under Section 2.05 and reborrow under this Section 2.04. Each Swing Line Loan shall be a Base Rate Loan. Swing Line Loans shall only be denominated in Dollars. Immediately upon the making of a
Swing Line Loan, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such
Lender’s Pro Rata Share times the amount of such Swing Line Loan. 
 (b) Borrowing Procedures. Each
Swing Line Borrowing shall be made upon the Company’s irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by telephone. Each such notice must 

  
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 be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m.
on the requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $100,000, and (ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed
promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the Company. Promptly after receipt by the Swing Line Lender of any
telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will
notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Revolving Credit
Lender) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the proviso to the first sentence of
Section 2.04(a) or (B) that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on the
borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Company. 
 (c) Refinancing of Swing Line Loans. (i) The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf of the Company (which hereby irrevocably authorizes the
Swing Line Lender to so request on its behalf), that each Revolving Credit Lender make a Base Rate Loan in an amount equal to such Lender’s Pro Rata Share of the amount of Swing Line Loans then outstanding. Such request shall be made in writing
(which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base
Rate Loans, but subject to the unutilized portion of the aggregate Revolving Credit Commitments and the conditions set forth in Section 4.02. The Swing Line Lender shall furnish the Company with a copy of the applicable Committed Loan Notice
promptly after delivering such notice to the Administrative Agent. Each Revolving Credit Lender shall make an amount equal to its Pro Rata Share of the amount specified in such Committed Loan Notice available to the Administrative Agent in Same Day
Funds for the account of the Swing Line Lender at the Administrative Agent’s Office for Dollar denominated payments not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii),
each Revolving Credit Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender. 

  
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 (ii) If for any reason any Swing Line Loan cannot be refinanced by such a
Revolving Credit Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Revolving Credit
Lenders fund its risk participation in the relevant Swing Line Loan and each Revolving Credit Lender’s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment in
respect of such participation. 
 (iii) If any Revolving Credit Lender fails to make available to the
Administrative Agent for the account of the Swing Line Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swing Line 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 Swing Line Lender at a rate per annum equal to the Overnight Rate from time to time in effect. A certificate of the Swing Line 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. 
 (iv) Each Revolving Credit Lender’s obligation to
make Revolving Credit Loans or to purchase and fund risk participations in Swing Line Loans pursuant to this Section 2.04(c) 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 Swing Line Lender, the 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 that each Revolving Credit Lender’s obligation to make Revolving Credit Loans pursuant to this Section 2.04(c) is subject to the conditions set
forth in Section 4.02. No such funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans, together with interest as provided herein. 

(d) Repayment of Participations. (i) At any time after any Revolving Credit Lender has purchased and funded a
risk participation in a Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Lender its Pro Rata Share of such payment (appropriately adjusted, in the case
of interest payments, to reflect the period of time during which such Lender’s risk participation was funded) in the same funds as those received by the Swing Line Lender. 

(ii) If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is
required to be returned by the Swing Line Lender under any of the circumstances described in Section 10.06 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Revolving Credit Lender shall pay to
the Swing Line Lender its 

  
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 Pro Rata Share 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 Overnight Rate. The Administrative Agent will make such demand upon the request of the Swing Line Lender. 

(e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the Company
for interest on the Swing Line Loans. Until each Revolving Credit Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Pro Rata Share of any Swing Line Loan, interest in respect of
such Pro Rata Share shall be solely for the account of the Swing Line Lender. 
 (f) Payments Directly to
Swing Line Lender. The Company shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender. 
 SECTION 2.05. Prepayments. (a) Optional. (i) The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Term Loans and Revolving
Credit Loans in whole or in part without premium or penalty, subject to clause (a)(iv) below; provided that (1) such notice must be received by the Administrative Agent not later than 12:30 p.m. (New York, New York time) (A) three
(3) Business Days prior to any date of prepayment of Eurocurrency Rate Loans and (B) on the date of prepayment of Base Rate Loans; (2) any prepayment of Eurocurrency Rate Loans shall be in a principal amount of $5,000,000 or a whole
multiple of $1,000,000 in excess thereof; and (3) any prepayment of Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof or, in each case, if less, the entire principal amount thereof
then outstanding. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Appropriate Lender of its receipt of each such notice,
and of the amount of such Lender’s Pro Rata Share of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date
specified therein. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.05. Each prepayment of the Loans pursuant to this
Section 2.05(a) shall be paid to the Appropriate Lenders in accordance with their respective Pro Rata Shares. At the Company’s election in connection with any prepayment of Revolving Credit Loans pursuant to this Section 2.05(a), such
prepayment shall not be applied to any Revolving Credit Loan of a Defaulting Lender and shall be reallocated among the relevant non-Defaulting Lenders. 
 (ii) The Company may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part without
premium or penalty; provided that (1) such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the date of the prepayment, and (2) any such prepayment shall be in a minimum
principal amount of $100,000 or 

  
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 a whole multiple of $100,000 in excess thereof or, if less, the entire principal amount
thereof then outstanding. Each such notice shall specify the date and amount of such prepayment. If such notice is given by the Company, the Company shall make such prepayment and the payment amount specified in such notice shall be due and payable
on the date specified therein. 
 (iii) Notwithstanding anything to the contrary contained in this Agreement, the
Company may rescind any notice of prepayment under Section 2.05(a)(i)or 2.05(a)(ii) if such prepayment would have resulted from a refinancing of all of the Facilities, which refinancing shall not be consummated or shall otherwise be delayed.

 (iv) All voluntary prepayments of Tranche C Term Loans and all mandatory prepayments of Tranche C Term Loans
required as a result of the incurrence of Indebtedness pursuant to Section 2.05(b)(iv) or as a result of such Tranche C Term Loans being refinanced in accordance with the provisions of Section 2.18 that, in any case are effected on or
prior to the first anniversary of the Fourth Amendment Effective Date with the proceeds of a substantially concurrent issuance or incurrence of Indebtedness (including any replacement or incremental term loan facility effected pursuant to an
amendment of this Agreement) incurred for the primary purpose of repaying, refinancing, substituting or replacing, in whole or in part, the Tranche C Term Loans (and, in any event, excluding any repayment, refinancing, substitution or replacement of
the Tranche C Term Loans that may occur in connection with a larger strategic transaction of the Company including in connection with or in contemplation of the AS Separation Transactions) will be accompanied by a prepayment fee equal to 1.00% of
the aggregate principal amount of such prepayment if the effective interest rate or weighted average yield (assuming a 4-year life to maturity) (to be determined in the reasonable discretion of the Administrative Agent consistent with generally
accepted financial practices, after giving effect to margins, upfront or similar fees or original issue discount shared with all lenders or holders thereof, but excluding the effect of any arrangement, structuring, syndication or other fees payable
in connection therewith that are not shared with all lenders or holders thereof) applicable to such Indebtedness is, or upon satisfaction of certain conditions could be, less than the effective interest rate for, or weighted average yield of (to be
determined in the reasonable discretion of the Administrative Agent consistent with generally accepted financial practices, on the same basis as above) the Tranche C Term Loans. Such fee shall be paid by the Company to the Administrative Agent,
for the accounts of the relevant Tranche C Term Lenders, on the date of such prepayment. 
 (v) All voluntary
prepayments of Tranche D Term Loans and all mandatory prepayments of Tranche D Term Loans required as a result of the incurrence of Indebtedness pursuant to Section 2.05(b)(iv) or as a result of such Tranche D Term Loans being refinanced in
accordance with the provisions of Section 2.18 that, in any case are effected on or prior to the first anniversary of the Fifth Amendment Effective Date with the proceeds of a substantially concurrent


  
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 issuance or incurrence of Indebtedness (including any replacement or incremental term loan
facility effected pursuant to an amendment of this Agreement) incurred for the primary purpose of repaying, refinancing, substituting or replacing, in whole or in part, the Tranche D Term Loans (and, in any event, excluding any repayment,
refinancing, substitution or replacement of the Tranche D Term Loans that may occur in connection with a larger strategic transaction of the Company including in connection with or in contemplation of the AS Separation Transactions) will be
accompanied by a prepayment fee equal to 1.00% of the aggregate principal amount of such prepayment if the effective interest rate or weighted average yield (assuming a 4-year life to maturity) (to be determined in the reasonable discretion of the
Administrative Agent consistent with generally accepted financial practices, after giving effect to margins, LIBOR floors, upfront or similar fees or original issue discount shared with all lenders or holders thereof, but excluding the effect of any
arrangement, structuring, syndication or other fees payable in connection therewith that are not shared with all lenders or holders thereof) applicable to such Indebtedness is, or upon satisfaction of certain conditions could be, less than the
effective interest rate for, or weighted average yield of (to be determined in the reasonable discretion of the Administrative Agent consistent with generally accepted financial practices, on the same basis as above) the Tranche D Term Loans.
Such fee shall be paid by the Company to the Administrative Agent, for the accounts of the relevant Tranche D Term Lenders, on the date of such prepayment. 
 (b) Mandatory. (i) Within five (5) Business Days after financial statements have been delivered pursuant to Section 6.01(a) and the related Compliance Certificate has been delivered
pursuant to Section 6.02(b), the Company shall cause to be prepaid an aggregate amount of Term Loans in an amount equal to (A) 50% of Excess Cash Flow, if any, for the fiscal year covered by such financial statements (commencing with the
fiscal year ended December 31, 2006) minus (B) the sum of (i) all voluntary prepayments of Term Loans during such fiscal year and (ii) all voluntary prepayments of Revolving Credit Loans during such fiscal year to the
extent the Revolving Credit Commitments are permanently reduced by the amount of such payments, in the case of each of the immediately preceding clauses (i) and (ii), to the extent such prepayments are not funded with the proceeds of
Indebtedness; provided that no payment of any Loans shall be required under this Section 2.05(b)(i) if the Total Leverage Ratio as of the last day of the fiscal year covered by such financial statements was less than 5.00:1.

 (ii) (A) If (x) Holdings, the Company or any Restricted Subsidiary Disposes of any property or
assets (other than any Disposition of any property or assets permitted by Section 7.05(a), (b), (c), (d) (to the extent constituting a Disposition by any Restricted Subsidiary to a Loan Party), (e), (f), (g), (h), (i), (j) or (n)), or
(y) any Casualty Event occurs, which in the aggregate results in the realization or receipt by Holdings, the Company or such Restricted Subsidiary of Net Cash Proceeds, the Company shall cause to be prepaid on or prior to the date which is ten
(10) Business Days after the date of the realization or receipt of such 

  
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 Net Cash Proceeds an aggregate amount of Term Loans in an amount equal to 100% of all Net
Cash Proceeds received; provided that, except with respect to a Disposition pursuant to Section 7.05(o), no such prepayment shall be required pursuant to this Section 2.05(b)(ii)(A) with respect to such portion of such Net Cash
Proceeds that the Company shall have, on or prior to such date, given written notice to the Administrative Agent of its intent to reinvest in accordance with Section 2.05(b)(ii)(B) (which notice may only be provided if no Event of Default has
occurred and is then continuing); 
 (B) With respect to any Net Cash Proceeds realized or received with respect
to any Disposition (other than any Disposition specifically excluded from the application of Section 2.05(b)(ii)(A) and any Disposition pursuant to Section 7.05(o)) or any Casualty Event, at the option of the Company the Company may
reinvest all or any portion of such Net Cash Proceeds in assets useful for its business within (x) fifteen (15) months following receipt of such Net Cash Proceeds or (y) if the Company enters into a legally binding commitment to
reinvest such Net Cash Proceeds within fifteen (15) months following receipt thereof, within one hundred and eighty (180) days of the date of such legally binding commitment; provided that (i) so long as an Event of Default
shall have occurred and be continuing, the Company (x) shall not be permitted to make any such reinvestments (other than pursuant to a legally binding commitment that the Company entered into at a time when no Event of Default is continuing)
and (y) shall not be required to apply such Net Cash Proceeds which have been previously applied to prepay Revolving Loans to the prepayment of Term Loans until such time as the relevant investment period has expired and no Event of Default is
continuing and (ii) if any Net Cash Proceeds are no longer intended to be or cannot be so reinvested at any time after delivery of a notice of reinvestment election, an amount equal to any such Net Cash Proceeds shall be applied within five
(5) Business Days after the Company reasonably determines that such Net Cash Proceeds are no longer intended to be or cannot be so reinvested to the prepayment of the Term Loans as set forth in this Section 2.05. 

(iii) Notwithstanding the immediately preceding clause (ii), if Holdings, the Company or any Restricted Subsidiary enters
into (A) any incremental financings under the Receivables Facility or (B) any increases in the amount available under the Receivables Facility, the Company shall cause to be prepaid an aggregate amount of Term Loans in an amount equal to
100% of all Net Cash Proceeds received therefrom on or prior to the date which is five (5) Business Days after the receipt of such Net Cash Proceeds. 
 (iv) If Holdings, the Company or any Restricted Subsidiary incurs or issues any Indebtedness not expressly permitted to be incurred or issued pursuant to Section 7.03, the Company shall cause to be
prepaid an aggregate amount of Term Loans in an amount equal to 100% of all Net Cash Proceeds received therefrom on or prior to the date which is five (5) Business Days after the receipt of such Net Cash Proceeds. 

  
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 (v) If for any reason the aggregate Revolving Credit Exposures at any time
exceeds the aggregate Revolving Credit Commitments then in effect (including pursuant to Section 4.03(f)), the Company shall promptly prepay or cause to be promptly prepaid Revolving Credit Loans and Swing Line Loans and/or Cash Collateralize
the L/C Obligations in an aggregate amount equal to such excess; provided that the Company shall not be required to Cash Collateralize the L/C Obligations pursuant to this sentence unless after the prepayment in full of the Revolving Credit
Loans and Swing Line Loans such aggregate Outstanding Amount exceeds the aggregate Revolving Credit Commitments then in effect. 
 (vi) Not later than ten (10) days after the AS Separation Date, the Company shall cause to be prepaid Term Loans outstanding on such date (or, at the election of the Company, amounts outstanding
under the Receivables Facility) in an aggregate principal amount equal to 100% of all Net Cash Proceeds received from the issuance of SunGard Short Term Notes that were exchanged for AS Spinco Securities in connection with the AS Separation
Transactions; provided that if any amounts outstanding under the Receivables Facility are prepaid pursuant to this Section 2.05(b)(vi), the Receivables Facility shall be permanently reduced by the amount of such payments. 

(vii) Each prepayment of Term Loans pursuant to this Section 2.05(b) shall be applied to each Class of Term Loans on
a pro rata basis in accordance with the relative outstanding principal amounts of Term Loans in such Classes and, within each such Class, in direct order of maturity to repayments thereof required pursuant to Section 2.07(a); and each such
prepayment shall be paid to the Lenders in accordance with their respective Pro Rata Shares, subject to clause (viii) of this Section 2.05(b). 
 (viii) The Company shall notify the Administrative Agent in writing of any mandatory prepayment of Term Loans required to be made pursuant to clauses (i) through (iv) or clause (vi) of this
Section 2.05(b) at least three (3) Business Days prior to the date of such prepayment. Each such notice shall specify the date of such prepayment and provide a reasonably detailed calculation of the amount of such prepayment. The
Administrative Agent will promptly notify each Appropriate Lender of the contents of the Company’s prepayment notice and of such Appropriate Lender’s Pro Rata Share of the prepayment. 

(ix) Funding Losses, Etc. All prepayments under this Section 2.05 shall be made together with, in the case of
any such prepayment of a Eurocurrency Rate Loan on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Eurocurrency Rate Loan pursuant to Section 3.05. Notwithstanding any of the other provisions
of Section 2.05(b), so long as no Event of Default shall have occurred and be continuing, if any prepayment of 

  
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 Eurocurrency Rate Loans is required to be made under this Section 2.05(b), other than
on the last day of the Interest Period therefor, the Borrower may, in its sole discretion, deposit the amount of any such prepayment otherwise required to be made thereunder into a Cash Collateral Account until the last day of such Interest Period,
at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Borrower or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.05(b).
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 the Borrower or any other Loan Party) to apply such amount to the
prepayment of the outstanding Loans in accordance with this Section 2.05(b). 
 SECTION 2.06. Termination or Reduction
of Commitments. (a) Optional. The Company may, upon written notice to the Administrative Agent, terminate the unused Commitments of any Class, or from time to time permanently reduce the unused Commitments of any Class;
provided that (i) any such notice shall be received by the Administrative Agent three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of
$1,000,000 or any whole multiple of $500,000 in excess thereof and (iii) if, after giving effect to any reduction of the Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Revolving Credit Facility,
such sublimit shall be automatically reduced by the amount of such excess. The amount of any such Commitment reduction shall not be applied to the Letter of Credit Sublimit or the Swing Line Sublimit unless otherwise specified by the Company.
Notwithstanding the foregoing, the Company may rescind or postpone any notice of termination of the Commitments if such termination would have resulted from a refinancing of all of the Facilities, which refinancing shall not be consummated or
otherwise shall be delayed. 
 (b) [Reserved] 

(c) Application of Commitment Reductions; Payment of Fees. The Administrative Agent will promptly notify the
Lenders of any termination or reduction of unused portions of the Letter of Credit Sublimit, the Swing Line Sublimit or the unused Commitments of any Class under this Section 2.06. Upon any reduction of unused Commitments of any Class, the
Commitment of each Lender of such Class shall be reduced by such Lender’s Pro Rata Share of the amount by which such Commitments are reduced (other than the termination of the Commitment of any Lender as provided in Section 3.07). All
commitment fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination. 
 SECTION 2.07. Repayment of Loans. (a) U.S. Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the U.S. Term Lenders (i) on the last
Business Day of each March, June, September and December, commencing with the first such date to occur after the First Amendment Effective Date, an aggregate amount equal to 0.25% of the aggregate amount of all U.S.


  
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 Term Loans outstanding on the First Amendment Effective Date, it being understood that such Loans were
subsequently converted into Tranche A U.S. Term Loans, Tranche B U.S. Term Loans and Tranche C Term Loans, which will continue to be paid their ratable share of such amortization payments (which payments shall be reduced as a result
of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for each Class of U.S. Term Loans, the aggregate principal amount of such U.S. Term Loans outstanding on
such date. 
 (b) Tranche D Term Loans. The Borrower shall repay to the Administrative Agent for the
ratable account of the Tranche D Term Lenders (i) on the last Business Day of each March, June, September and December, commencing with March 29, 2013, an aggregate amount equal to 0.25% of the aggregate amount of all Tranche D Term Loans
outstanding on the Fifth Amendment Effective 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 2.05) and (ii) on the Maturity Date for the
Tranche D Term Loans, the aggregate principal amount of all Tranche D Term Loans outstanding on such date. 
 (c)
[Reserved]. 
 (d) Revolving Credit Loans. The Borrower shall repay to the Administrative Agent for
the ratable account of the Appropriate Lenders on the Maturity Date for the Revolving Credit Commitments, the aggregate principal amount of all the Revolving Credit Loans outstanding on such date. 

(e) Swing Line Loans. The Borrower shall repay its Swing Line Loans on the earlier to occur of (i) the date
five (5) Business Days after such Loan is made and (ii) the Maturity Date for the Revolving Credit Facility. 
 (f) Incremental Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Incremental Term Lenders (i) on the last Business Day of each March, June,
September and December, commencing with the first such date to occur after the First Refinancing Amendment Effective Date, an aggregate amount equal to 0.25% of the aggregate amount of all Incremental Term Loans outstanding on the First Refinancing
Amendment Effective Date, it being understood that a portion of such Loans were subsequently converted into Tranche C Term Loans, which will continue to be paid their ratable share of such amortization payments (which payments shall be reduced
as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Incremental Term Loans, the aggregate principal amount of all Incremental Term Loans
outstanding on such date. 
 SECTION 2.08. Interest. (a) Subject to the provisions of Section 2.08(b),
(i) each Eurocurrency Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for 

  
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 such Interest Period plus the Applicable Rate plus (in the case of a Eurocurrency Rate Loan of any Lender
which is lent from a Lending Office in the United Kingdom or a Participating Member State) the Mandatory Cost; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate
per annum equal to the Base Rate plus the Applicable Rate and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the
Applicable Rate for Revolving Credit Loans. 
 (b) The Borrower shall pay interest on past due amounts hereunder
at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable
upon demand. 
 (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date
applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any
Debtor Relief Law. 
 SECTION 2.09. Fees. In addition to certain fees described in Sections 2.03(h) and (i): 

(a) Commitment Fee. The Company shall pay to the Administrative Agent for the account of each Revolving Credit
Lender in accordance with its Pro Rata Share of the Revolving Credit Commitments, a commitment fee equal to the Applicable Rate with respect to commitment fees in respect of such Revolving Credit Commitments times the actual daily amount by which
the aggregate Revolving Credit Commitments exceed the sum of (A) Outstanding Amount of Revolving Credit Loans and (B) the Outstanding Amount of L/C Obligations; provided that any commitment fee accrued with respect to any of the
Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Company so long as such Lender shall be a Defaulting Lender except to the extent that
such commitment fee shall otherwise have been due and payable by the Company prior to such time; and provided further that no commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a
Defaulting Lender. The commitment fee shall accrue at all times from the Fourth Amendment Effective Date until the Maturity Date for the Revolving Credit Facility, including at any time during which one or more of the conditions in Article 4 is
not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Fourth Amendment Effective Date and on the Maturity Date for the
Revolving Credit Facility. The commitment fee shall be calculated quarterly (or in respect of any shorter period for which commitment fees are required to be paid) in arrears, and 

  
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 if there is any change in the Applicable Rate during any quarter (or any such shorter
period), the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period that such Applicable Rate was in effect. 
 (b) Other Fees. The Company shall pay to the Agents such fees as shall have been separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be fully earned when
paid and shall not be refundable for any reason whatsoever (except as expressly agreed between the Company and the applicable Agent). 
 SECTION 2.10. Computation of Interest and Fees. All computations of interest for Base Rate Loans when the Base Rate is determined by JPMorgan Chase Bank’s “prime rate” shall be made
on the basis of a year of three hundred and sixty-five (365) days and actual days elapsed. All other computations of fees and interest shall be made on the basis of a three hundred and sixty (360) day year and actual days elapsed. Interest
shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; provided that any Loan that is repaid on the same day on which it
is made shall, subject to Section 2.12(a), bear interest for one (1) day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

 SECTION 2.11. Evidence of Indebtedness. (a) The Credit Extensions made by each Lender shall be evidenced by one
or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower,
in each case in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrower 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 obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the
event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of
manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender, which shall evidence such Lender’s
Loans in addition to such accounts or records. Any such Note evidencing a Term Loan prior to the Fourth Amendment Effective Date that was converted into a Tranche C Term Loan on the Fourth Amendment Effective Date may be exchanged, upon the request
of the relevant Term Lender through the Administrative Agent and the surrender to the Administrative Agent of such existing Note, for Notes that the Company will execute and deliver through the Administrative Agent, evidencing the Tranche C Term
Loans into which such Term Loan was converted on the Fourth Amendment Effective Date. 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. 

  
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 (b) In addition to the accounts and records referred to in
Section 2.11(a), each Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records and, in the case of the Administrative Agent, entries in the Register, evidencing the purchases and sales by such
Lender of participations in Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the
accounts and records of the Administrative Agent shall control in the absence of manifest error. 
 (c) Entries
made in good faith by the Administrative Agent in the Register pursuant to Sections 2.11(a) and (b), and by each Lender in its account or accounts pursuant to Sections 2.11(a) and (b), shall be prima facie evidence of the amount of principal
and interest due and payable or to become due and payable from the Borrower to, in the case of the Register, each Lender and, in the case of such account or accounts, such Lender, under this Agreement and the other Loan Documents, absent manifest
error; provided that the failure of the Administrative Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of the
Borrower under this Agreement and the other Loan Documents. 
 SECTION 2.12. Payments Generally. (a) All payments to
be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative
Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative Agent’s Office in Dollars and in Same Day Funds not later than 2:00 p.m. on the date specified herein. All payments received by the
Administrative Agent after 2:00 p.m. shall in each case be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. 

(b) If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on
the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be; provided that, if such extension would cause payment of interest on or principal of Eurocurrency Rate Loans to
be made in the next succeeding calendar month, such payment shall be made on the immediately preceding Business Day. 
 (c) Unless the Borrower or any Lender has notified the Administrative Agent, prior to the date any payment is required to be made by it to the Administrative Agent hereunder, that the Borrower or such
Lender, as the case may be, will not make such payment, the Administrative Agent may assume that the Borrower or such Lender, as the case may be, has timely made such 

  
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 payment and may (but shall not be so required to), in reliance thereon, make available a
corresponding amount to the Person entitled thereto. If and to the extent that such payment was not in fact made to the Administrative Agent in Same Day Funds, then: 

(i) if the Borrower failed to make such payment, each Lender shall forthwith on demand repay to the Administrative Agent
the portion of such assumed payment that was made available to such Lender in Same Day Funds, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative Agent to such Lender
to the date such amount is repaid to the Administrative Agent in Same Day Funds at the Overnight Rate from time to time in effect; and 
 (ii) if any Lender failed to make such payment, such Lender shall forthwith on demand pay to the Administrative Agent the amount thereof in Same Day Funds, together with interest thereon for the period
from the date such amount was made available by the Administrative Agent to the Borrower to the date such amount is recovered by the Administrative Agent (the “Compensation Period”) at a rate per annum equal to the Overnight Rate
from time to time in effect. When such Lender makes payment to the Administrative Agent (together with all accrued interest thereon), then such payment amount (excluding the amount of any interest which may have accrued and been paid in respect of
such late payment) shall constitute such Lender’s Loan included in the applicable Borrowing. If such Lender does not pay such amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent may make a demand
therefor upon the Borrower, and the Borrower shall pay such amount to the Administrative Agent, together with interest thereon for the Compensation Period at a rate per annum equal to the rate of interest applicable to the applicable Borrowing.
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 Borrower may have against any Lender as a result of any default by such
Lender hereunder. 
 A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing
under this Section 2.12(c) shall be conclusive, absent manifest error. 
 (d) If any Lender makes available
to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article 2, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the
applicable Credit Extension set forth in Article 4 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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 (e) The obligations of the Lenders hereunder to make Loans and to fund
participations in Letters of Credit and Swing Line Loans are several and not joint. The failure of any Lender to make any Loan or to fund any such participation on any date required hereunder shall not relieve any other Lender of its corresponding
obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan or purchase its participation. 
 (f) Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will
obtain the funds for any Loan in any particular place or manner. 
 (g) Whenever any payment received by the
Administrative Agent under this Agreement or any of the other Loan Documents is insufficient to pay in full all amounts due and payable to the Administrative Agent and the Lenders under or in respect of this Agreement and the other Loan Documents on
any date, such payment shall be distributed by the Administrative Agent and applied by the Administrative Agent and the Lenders in the order of priority set forth in Section 8.04. If the Administrative Agent receives funds for application to
the Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may, but shall not be obligated
to, elect to distribute such funds to each of the Lenders in accordance with such Lender’s Pro Rata Share of the sum of (a) the Outstanding Amount of all Loans outstanding at such time and (b) the Outstanding Amount of all L/C
Obligations outstanding at such time, in repayment or prepayment of such of the outstanding Loans or other Obligations then owing to such Lender. 
 SECTION 2.13. Sharing of Payments. If, other than as expressly provided elsewhere herein, any Lender shall obtain on account of the Loans made by it, or the participations in L/C Obligations and
Swing Line Loans held by it, any payment (whether voluntary, involuntary, through the exercise of any right of setoff, or otherwise) in excess of its ratable share (or other share contemplated hereunder) thereof, such Lender shall immediately
(a) notify the Administrative Agent of such fact and (b) purchase from the other Lenders such participations in the Loans made by them and/or such subparticipations in the participations in L/C Obligations or Swing Line Loans held by them,
as the case may be, as shall be necessary to cause such purchasing Lender to share the excess payment in respect of such Loans or such participations, as the case may be, pro rata with each of them; provided that if all or any portion of such
excess payment is thereafter recovered from the purchasing Lender under any of the circumstances described in Section 10.06 (including pursuant to any settlement entered into by the purchasing Lender in its discretion), such purchase shall to
that extent be rescinded and each other Lender shall repay to the purchasing Lender the purchase price paid therefor, together with an amount equal to such paying Lender’s ratable share (according to the proportion of (i) the amount of
such paying Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered, without further
interest thereon. The Borrower agrees that any 

  
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 Lender so purchasing a participation from another Lender may, to the fullest extent permitted by applicable
Law, exercise all its rights of payment (including the right of setoff, but subject to Section 10.09) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation.
The Administrative Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased under this Section 2.13 and will in each case notify the Lenders following any such purchases or
repayments. Each Lender that purchases a participation pursuant to this Section 2.13 shall from and after such purchase have the right to give all notices, requests, demands, directions and other communications under this Agreement with respect
to the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased. 
 SECTION 2.14. [Reserved]. 
 SECTION 2.15. Incremental Credit
Extensions. (a) The Company may at any time or from time to time after the Fifth Amendment Effective Date but excluding during the Pre-IPO Period, by notice to the Administrative Agent (whereupon the Administrative Agent shall promptly
deliver a copy to each of the Lenders), request (a) one or more additional tranches of term loans (the “Incremental Term Loans”) or (b) one or more increases in the amount of the Revolving Credit Commitments (each such
increase, a “Revolving Commitment Increase”); provided that (i) both at the time of any such request and upon the effectiveness of any Incremental Amendment referred to below, no Default or Event of Default shall exist
and at the time that any such Incremental Term Loan is made (and after giving effect thereto) no Default or Event of Default shall exist and (ii) the Company shall be in compliance with each of the covenants set forth in Section 7.11(a)
and (b) determined on a Pro Forma Basis as of the date of such Incremental Term Loan or Revolving Commitment Increase and the last day of the most recent Test Period, in each case, as if such Incremental Term Loans or Revolving Commitment
Increases, as applicable, had been outstanding on the last day of such fiscal quarter of the Company for testing compliance therewith. Each tranche of Incremental Term Loans and each Revolving Commitment Increase shall be in an aggregate principal
amount that is not less than $50,000,000 (provided that such amount may be less than $50,000,000 if such amount represents all remaining availability under the limit set forth in the next sentence). Notwithstanding anything to the contrary
herein, the aggregate amount of the Incremental Term Loans, the Revolving Commitment Increases and Alternative Incremental Facility Debt (x) after the Fifth Amendment Effective Date and prior to the AS Separation Date shall not exceed
$750,000,000 and (y) from and after the AS Separation Date shall not exceed $500,000,000 less the aggregate principal amount (not in excess of $500,000,000) of Incremental Term Loans, Revolving Commitment Increases and Alternative Incremental
Facility Debt incurred after the Fifth Amendment Effective Date and prior to the AS Separation Date; provided that the aggregate amount of the Revolving Commitment Increases shall not exceed $200,000,000. The Incremental Term Loans
(a) shall rank pari passu or junior in right of payment and of security with the Revolving Credit Loans and the Term Loans, (b) shall not mature earlier than the Latest Maturity Date with respect to the Term Loans that is in effect
on the date such Incremental Term Loans are incurred and (c) except as set forth 

  
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 above, shall be treated substantially the same as the Term Loans (in each case, including with respect to
mandatory and voluntary prepayments), provided that (i) the terms and conditions applicable to Incremental Term Loans may be materially different from those of the Term Loans to the extent such differences are reasonably acceptable to the
Arrangers and (ii) the interest rates and amortization schedule applicable to the Incremental Term Loans shall be determined by the Company and the lenders thereof. 
 Each notice from the Company pursuant to this Section shall set forth the requested amount and proposed terms of the relevant Incremental Term Loans or Revolving Commitment Increases. Incremental Term
Loans may be made, and Revolving Commitment Increases may be provided, by any existing Lender or by an Additional Lender; provided that the Administrative Agent shall have consented (not to be unreasonably withheld) to such Lender’s or
Additional Lender’s making such Incremental Term Loans or providing such Revolving Commitment Increases if such consent would be required under Section 10.07(b) for an assignment of Loans or Revolving Credit Commitments, as applicable, to
such Lender or Additional Lender. Commitments in respect of Incremental Term Loans and Revolving Commitment Increases shall become Commitments (or in the case of a Revolving Commitment Increase to be provided by an existing Revolving Credit Lender,
an increase in such Lender’s applicable Revolving Credit Commitment) under this Agreement pursuant to an amendment (an “Incremental Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed by
Holdings, the Company, each Lender agreeing to provide such Commitment, if any, each Additional Lender, if any, and the Administrative Agent. 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 Administrative Agent and the Company, to effect the provisions of this Section. The effectiveness of any Incremental Amendment shall be
subject to the satisfaction on the date thereof (each, an “Incremental Facility Closing Date”) of each of the conditions set forth in Section 4.02 (it being understood that all references to “the date of such Credit
Extension” or similar language in such Section 4.02 shall be deemed to refer to the effective date of such Incremental Amendment) and such other conditions as the parties thereto shall agree. The Company will use the proceeds of the
Incremental Term Loans and Revolving Commitment Increases for any purpose not prohibited by this Agreement. No Lender shall be obligated to provide any Incremental Term Loans or Revolving Commitment Increases, unless it so agrees. Upon each increase
in the Revolving Credit Commitments pursuant to this Section, each Revolving Credit 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 Credit Lender’s participations hereunder in outstanding Letters of Credit and Swing Line 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 Swing Line Loans held by each Revolving Credit Lender (including each such Revolving Commitment Increase Lender) will equal the percentage


  
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 of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders represented by such Revolving
Credit Lender’s Revolving Credit Commitment and (b) if, on the date of such increase, there are any Revolving Credit Loans outstanding, such Revolving Credit Loans shall on or prior to the effectiveness of such Revolving Commitment
Increase be prepaid from the proceeds of additional Revolving Credit Loans made hereunder (reflecting such increase in Revolving Credit Commitments), which prepayment shall be accompanied by accrued interest on the Revolving Credit Loans being
prepaid and any costs incurred by any Lender in accordance with Section 3.05. 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. 
 (b) This Section 2.15 shall supersede any provisions in Section 2.13 or 10.01 to the contrary. 
 SECTION 2.16. [Reserved]. 
 SECTION 2.17. Loan Modification Offers.
(a) At any time after the Fourth Amendment Effective Date, the Company may on one or more occasions, by written notice to the Administrative Agent, make one or more offers (each, a “Loan Modification Offer”) to all the Lenders
of one or more Classes (each Class subject to such a Loan Modification Offer, an “Affected Class”) to effect one or more Permitted Amendments relating to such Affected Class pursuant to procedures reasonably specified by the
Administrative Agent and reasonably acceptable to the Company. 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. Permitted Amendments shall become effective only with respect to the Loans and Commitments of the Lenders of the Affected 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 Affected Class as to which such Lender’s acceptance has been made. 

(b) A Permitted Amendment shall be effected pursuant to a Loan Modification Agreement executed and delivered by Holdings,
the Company, each applicable Accepting Lender and the Administrative Agent; provided that no Permitted Amendment shall become effective unless Holdings and the Company shall have delivered to the Administrative Agent such legal opinions,
board resolutions, secretary’s certificates, officer’s certificates and other documents as shall be reasonably requested by the Administrative Agent in connection therewith. The Administrative 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 Administrative Agent, to give effect to the provisions of this Section 2.17, including any amendments necessary to treat the applicable Loans and/or


  
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 Commitments of the Accepting Lenders as a new “Class” of loans and/or commitments
hereunder; provided that, in the case of any Loan Modification Offer relating to Revolving Credit Commitments or Revolving Credit Loans, (i) all Borrowings and all prepayments of Revolving Credit Loans shall continue to be made on a
ratable basis among all Revolving Lenders, based on the relative amounts of their Revolving Credit Commitments, until the repayment of the Revolving Credit Loans attributable to the non-extended Revolving Credit Commitments on the relevant Maturity
Date, (ii) the allocation of the participation exposure with respect to any then-existing or subsequently issued or made Letter of Credit or Swing Line Loan as between the Revolving Credit Commitments of such new “Class” and the
remaining Revolving Credit Commitments shall be made on a ratable basis in accordance with the relative amounts thereof until the Maturity Date relating to such non-extended Revolving Credit Commitments has occurred and (iii) the applicable
Maturity Date for any Letters of Credit or Swing Line Loans may not be extended without the prior written consent of the applicable L/C Issuer or the Swing Line Lender with respect to such Letters of Credit or Swing Line Loans. If the aggregate
Revolving Credit Exposures exceeds the aggregate Revolving Credit Commitments as a result of the occurrence of the Maturity Date with respect to any Class of Revolving Credit Commitments while an extended Class of Revolving Credit Commitments
remains outstanding, the Borrower shall make such payments and provide such Cash Collateral as may be required by Section 2.05(b)(v) to eliminate such excess on such Maturity Date. 

(c) This Section 2.17 shall supersede any provisions in Section 2.13 or 10.01 to the contrary. 

SECTION 2.18. Refinancing Amendments. At any time after the Restatement Effective Date, the Company may obtain from any Lender or
any Additional Lender Credit Agreement Refinancing Indebtedness in respect of (a) all or any portion of the Term Loans then outstanding under this Agreement (which for purposes of this clause (a) will be deemed to include any then
outstanding Other Term Loans) or (b) all or any portion of the Revolving Credit Loans (or unused Revolving Credit Commitments) under this Agreement (which for purposes of this clause (b) 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, subject to the first proviso in the definition of Credit Agreement Refinancing Indebtedness, additional Term Loans of any
existing Class or commitments to make additional Term Loans of any existing Class or (y) Other Revolving Credit Loans or Other Revolving Credit Commitments, respectively, in each case pursuant to a Refinancing Amendment; provided that
such Credit Agreement Refinancing Indebtedness (i) will rank pari passu in right of payment and of security with the other Loans and Commitments hereunder, (ii) have such pricing and optional prepayment terms as may be agreed by the
Company and the Lenders thereof and (iii) otherwise be treated hereunder no more favorably, including with respect to covenants and events of default, than the Refinanced Debt; provided further that the terms and conditions applicable to
such Credit Agreement Refinancing Indebtedness may provide for any additional or different financial or other covenants or other provisions 

  
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 (including different borrowers) that are agreed between the Company and the Lenders thereof and applicable
only during periods after (A) the Latest Maturity Date that is in effect on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained or (B) the Company and all other Loan Parties have been released from all
obligations in respect of such Credit Agreement Refinancing Indebtedness and such Credit Agreement Refinancing Indebtedness has been assumed in full by a new borrower or borrowers as agreed by the applicable Lenders and Additional Lenders in respect
of such Credit Agreement Refinancing Indebtedness at the time such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained. 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 4.02 and, to the extent reasonably requested by the Administrative Agent, receipt by the Administrative Agent of legal opinions, board resolutions, officers’ certificates and/or reaffirmation
agreements consistent with those delivered on the Restatement Effective Date under Section 7 of the Amendment and Restatement Agreement other than changes to such legal opinion resulting from a change in law, change in fact or change to
counsel’s form of opinion reasonably satisfactory to the Administrative Agent. Each Tranche of Credit Agreement Refinancing Indebtedness incurred under this Section 2.18 (other than additional Term Loans of any existing Class or
commitments to make additional Term Loans of any existing Class) shall be in an aggregate principal amount that is not less than $50,000,000. Any Refinancing Amendment may provide for the issuance of Letters of Credit for the account of the Company,
or the provision to the Company of Swing Line Loans, pursuant to any Other Revolving Credit Commitments established thereby, in each case on terms substantially equivalent to the terms applicable to Letters of Credit and Swing Line Loans under the
Revolving Credit Commitments. The Administrative Agent 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 Credit Agreement Refinancing Indebtedness incurred pursuant thereto (including any amendments necessary to treat the Loans
and Commitments subject thereto as Other Term Loans, Other Revolving Credit Loans, Other Revolving Credit Commitments and/or Other Term Commitments). 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 the Administrative Agent and the Company, to effect the provisions of this Section. This Section 2.18 shall supersede any provisions in
Section 2.13 or 10.01 to the contrary. 
 ARTICLE III 

Taxes, Increased Costs Protection and Illegality 
 SECTION 3.01. Taxes. (a) Except as provided in this Section 3.01, any and all payments by the Borrower (the term Borrower under Article 3 being deemed to include any Subsidiary for whose
account a Letter of Credit is issued) to or for the account of any Agent or any Lender under any Loan Document shall be made free and clear of and without deduction for any and all present or future taxes, duties, levies,


  
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 imposts, deductions, assessments, fees, withholdings or similar charges, and all liabilities (including
additions to tax, penalties and interest) with respect thereto, excluding, (x) in the case of each Agent and each Lender, taxes imposed on or measured by its net income or overall gross income (including branch profits), and franchise (and
similar) taxes imposed on it in lieu of net income taxes, by the jurisdiction (or any political subdivision thereof) under the Laws of which such Agent or such Lender, as the case may be, is organized or maintains a Lending Office, and all
liabilities (including additions to tax, penalties and interest) with respect thereto and (y) U.S. Federal withholdings taxes imposed under FATCA (all such non-excluded taxes, duties, levies, imposts, deductions, assessments, fees, withholdings
or similar charges, and liabilities being hereinafter referred to as “Taxes”). If the Borrower shall be required by any Laws to deduct any Taxes or Other Taxes from or in respect of any sum payable under any Loan Document to any
Agent or any Lender, (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 3.01), each of such Agent and such Lender
receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions, (iii) the Borrower shall pay the full amount deducted to the relevant taxation authority or other
authority in accordance with applicable Laws and (iv) within thirty (30) days after the date of such payment (or, if receipts or evidence are not available within thirty (30) days, as soon as possible thereafter), the Borrower shall
furnish to such Agent or Lender (as the case may be) the original or a certified copy of a receipt evidencing payment thereof to the extent such a receipt is issued therefor, or other written proof of payment thereof that is reasonably satisfactory
to the Administrative Agent. If the Borrower fails to pay any Taxes or Other Taxes when due to the appropriate taxing authority or fails to remit to any Agent or any Lender the required receipts or other required documentary evidence, the Borrower
shall indemnify such Agent and such Lender for any incremental taxes, interest or penalties that may become payable by such Agent or such Lender arising out of such failure. 

(b) In addition, the Borrower agrees to pay any and all present or future stamp, court or documentary taxes and any other
excise, property, intangible or mortgage recording taxes or charges or similar levies which arise from any payment made under any Loan Document or from the execution, delivery, performance, enforcement or registration of, or otherwise with respect
to, any Loan Document (hereinafter referred to as “Other Taxes”). 
 (c) The Borrower agrees to
indemnify each Agent and each Lender for (i) the full amount of Taxes and Other Taxes (including any Taxes or Other Taxes imposed or asserted by any jurisdiction on amounts payable under this Section 3.01) paid by such Agent and such
Lender and (ii) any liability (including additions to tax, penalties, interest and expenses) arising therefrom or with respect thereto, in each case whether or not such Taxes or Other Taxes were correctly or legally imposed or asserted by the
relevant Governmental Authority; provided such Agent or Lender, as the case may be, provides the Borrower with a written statement thereof setting forth in reasonable detail the basis and calculation of such amounts. Payment under this
Section 3.01(c) shall be made within thirty (30) days after the date such Lender or such Agent makes a demand therefor. 

  
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 (d) Each Lender severally agrees to indemnify each Agent for (i) the
full amount, to the extent attributable to such Lender, of any taxes excluded from the definition of Taxes in Section 3.01(a) or (f) or excluded from the obligation to pay additional amounts or indemnify with respect thereto under
Section 3.01(e) to the extent attributable to such Lender, (ii) the full amount, to the extent attributable to such Lender, of any Taxes or Other Taxes (but only to the extent that the Borrower has not already indemnified such Agent for
such Taxes or Other Taxes and without limiting the obligation of the Borrower to do so) and (iii) any liability (including additions to tax, penalties, interest and expense) arising from taxes described in (i) and (ii), in each case
whether or not such taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided such Agent provides such Lender with a written statement thereof setting forth in reasonable detail the basis and
calculation of such amounts. Payment under this Section 3.01(d) shall be made within thirty (30) days after the date such Agent makes a demand therefor. 

(e) The Borrower shall not be required pursuant to this Section 3.01 to pay any additional amount to, or to
indemnify, any Lender or Agent, as the case may be, to the extent that such Lender or such Agent becomes subject to Taxes subsequent to the Closing Date (or, if later, the date such Lender or Agent becomes a party to this Agreement) as a result of a
change in the place of organization of such Lender or Agent or a change in the lending office of such Lender, except to the extent that any such change is requested or required in writing by the Borrower (and provided that nothing in this clause
(d) shall be construed as relieving the Borrower from any obligation to make such payments or indemnification in the event of a change in lending office or place of organization that precedes a change in Law to the extent such Taxes result from
a change in Law). 
 (f) Notwithstanding anything else herein to the contrary, if a Lender or an Agent is subject
to withholding tax imposed by any jurisdiction in which the Borrower is formed or organized at a rate in excess of zero percent at the time such Lender or such Agent, as the case may be, first becomes a party to this Agreement, withholding tax
imposed by such jurisdiction at such rate shall be considered excluded from Taxes unless and until such Lender or Agent, as the case may be, provides the appropriate forms certifying that a lesser rate applies, whereupon withholding tax at such
lesser rate only shall be considered excluded from Taxes for periods governed by such forms; provided that, if at the date of the Assignment and Acceptance pursuant to which a Lender becomes a party to this Agreement, the Lender assignor was
entitled to payments under clause (a) of this Section 3.01 in respect of withholding tax with respect to interest paid at such date, then, to such extent, the term Taxes shall include (in addition to withholding taxes that may be imposed
in the future or other amounts otherwise includable in Taxes) withholding tax, if any, applicable with respect to the Lender assignee on such date. 

  
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 (g) If any Lender or Agent determines, in its reasonable discretion, that it
has received a refund in respect of any Taxes or Other Taxes as to which indemnification or additional amounts have been paid to it by the Borrower pursuant to this Section 3.01, it shall promptly remit such refund (but only to the extent of
indemnity payments made, or additional amounts paid, by the Borrower under this Section 3.01 with respect to the Taxes or Other Taxes giving rise to such refund plus any interest included in such refund by the relevant taxing authority
attributable thereto) to the Borrower, net of all out-of-pocket expenses of the Lender or Agent, as the case may be and without interest (other than any interest paid by the relevant taxing authority with respect to such refund); provided
that the Borrower, upon the request of the Lender or Agent, as the case may be, agrees promptly to return such refund to such party in the event such party is required to repay such refund to the relevant taxing authority. Such Lender or Agent, as
the case may be, shall, at the Borrower’s request, provide the Borrower with a copy of any notice of assessment or other evidence of the requirement to repay such refund received from the relevant taxing authority (provided that such
Lender or Agent may delete any information therein that such Lender or Agent deems confidential). Nothing herein contained shall interfere with the right of a Lender or Agent to arrange its tax affairs in whatever manner it thinks fit nor oblige any
Lender or Agent to claim any tax refund or to make available its tax returns or disclose any information relating to its tax affairs or any computations in respect thereof or require any Lender or Agent to do anything that would prejudice its
ability to benefit from any other refunds, credits, reliefs, remissions or repayments to which it may be entitled. 
 (h) Each Lender agrees that, upon the occurrence of any event giving rise to the operation of Section 3.01(a) or (c) with respect to such Lender it will, if requested by the Company, use
commercially reasonable efforts (subject to such Lender’s overall internal policies of general application and legal and regulatory restrictions) to designate another Lending Office for any Loan or Letter of Credit affected by such event;
provided that such efforts are 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, and provided further that nothing in this
Section 3.01(g) shall affect or postpone any of the Obligations of the Borrower or the rights of such Lender pursuant to Section 3.01(a) or (c). 
 (i) If a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements
of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably
requested by the Borrower or the Administrative Agent such documentation 

  
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 prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of
the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such
Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this Section 3.01(i), “FATCA” shall include any amendments made to FATCA
after the date of this Agreement. 
 SECTION 3.02. Illegality. If any Lender determines that any Law has made it
unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Eurocurrency Rate Loans, or to determine or charge interest rates based upon the Eurocurrency
Rate, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, any obligation of such Lender to make or continue Eurocurrency Rate Loans or to convert Base Rate Loans to Eurocurrency Rate Loans shall be suspended
until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the Borrower shall upon demand from such Lender (with a copy to the
Administrative Agent), prepay or, if applicable, convert all Eurocurrency Rate Loans of such Lender to Base Rate Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurocurrency Rate
Loans to such day, or promptly, if such Lender may not lawfully continue to maintain such Eurocurrency Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted and all
amounts due, if any, in connection with such prepayment or conversion under Section 3.05. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith
judgment of such Lender, otherwise be materially disadvantageous to such Lender. 
 SECTION 3.03. Inability to Determine
Rates. If the Required Lenders determine that for any reason adequate and reasonable means do not exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan, or that the
Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, or that Dollar deposits are not being offered to banks in the
London interbank eurodollar market for the applicable amount and the Interest Period of such Eurocurrency Rate Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make or
maintain Eurocurrency Rate Loans shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of,
conversion to or continuation of Eurocurrency Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein. 

  
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 SECTION 3.04. Increased Cost and Reduced Return; Capital Adequacy; Reserves on
Eurocurrency Rate Loans. (a) If any Lender determines that as a result of the introduction of or any change in or in the interpretation of any Law, in each case after the date hereof, or such Lender’s compliance therewith, there shall
be any increase in the cost to such Lender of agreeing to make or making, funding or maintaining Eurocurrency Rate Loans or (as the case may be) issuing or participating in Letters of Credit, or a reduction in the amount received or receivable by
such Lender in connection with any of the foregoing (excluding for purposes of this Section 3.04(a) any such increased costs or reduction in amount resulting from (i) Taxes or Other Taxes (as to which Section 3.01 shall govern),
(ii) changes in the basis of taxation of overall net income or overall gross income (including branch profits), and franchise (and similar) taxes imposed in lieu of net income taxes, by the United States or any foreign jurisdiction or any
political subdivision of either thereof under the Laws of which such Lender is organized or maintains a Lending Office, (iii) reserve requirements contemplated by Section 3.04(c) and (iv) the requirements of the Bank of England and
the Financial Services Authority or the European Central Bank reflected in the Mandatory Cost, other than as set forth below) or the Mandatory Cost, as calculated hereunder, does not represent the cost to such Lender of complying with the
requirements of the Bank of England and/or the Financial Services Authority or the European Central Bank in relation to its making, funding or maintaining of Eurocurrency Rate Loans, then from time to time within fifteen (15) days after demand
by such Lender setting forth in reasonable detail such increased costs (with a copy of such demand to the Administrative Agent given in accordance with Section 3.06), the Company shall pay to such Lender such additional amounts as will
compensate such Lender for such increased cost or reduction or, if applicable, the portion of such cost that is not represented by the Mandatory Cost. 
 (b) If any Lender determines that the introduction of any Law regarding capital adequacy or any change therein or in the interpretation thereof, in each case after the Closing Date, or compliance by such
Lender (or its Lending Office) therewith, has the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such Lender as a consequence of such Lender’s obligations hereunder (taking into consideration
its policies with respect to capital adequacy and such Lender’s desired return on capital), then from time to time upon demand of such Lender setting forth in reasonable detail the charge and the calculation of such reduced rate of return (with
a copy of such demand to the Administrative Agent given in accordance with Section 3.06), the Company shall pay to such Lender such additional amounts as will compensate such Lender for such reduction within fifteen (15) days after receipt
of such demand. 
 (c) The Company shall pay to each Lender, (i) as long as such Lender shall be required to
maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits, additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated
to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive in the absence of manifest error) and (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or
analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional


  
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 costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest
five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error) which in each case shall be due and
payable on each date on which interest is payable on such Loan, provided the Company shall have received at least fifteen (15) days’ prior notice (with a copy to the Administrative Agent) of such additional interest or cost from such
Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest or cost shall be due and payable fifteen (15) days from receipt of such notice. 

(d) Failure or delay on the part of any Lender to demand compensation pursuant to this Section 3.04 shall not
constitute a waiver of such Lender’s right to demand such compensation; provided that the Company shall not be required to compensate a Lender pursuant to Section 3.04(a), (b) or (c) for any such increased cost or
reduction incurred more than one hundred and eighty (180) days prior to the date that such Lender demands, or notifies the Company of its intention to demand, compensation therefor; provided further that, if the circumstance giving rise
to such increased cost or reduction is retroactive, then such 180-day period referred to above shall be extended to include the period of retroactive effect thereof. 

(e) If any Lender requests compensation under this Section 3.04, then such Lender will, if requested by the Company,
use commercially reasonable efforts to designate another Lending Office for any Loan or Letter of Credit affected by such event; provided that such efforts are made on terms that, in the reasonable judgment of such Lender, cause such Lender
and its Lending Office(s) to suffer no material economic, legal or regulatory disadvantage, and provided further that nothing in this Section 3.04(e) shall affect or postpone any of the Obligations of the Borrower or the rights of such
Lender pursuant to Section 3.04(a), (b), (c) or (d). 
 SECTION 3.05. Funding Losses. Upon demand of any
Lender (with a copy to the Administrative Agent) from time to time, the Company shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the
last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration or otherwise); or 
 (b) any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount
notified by the Borrower; including any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. 

  
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 For purposes of calculating amounts payable by the Company to the Lenders under this
Section 3.05, each Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount
and for a comparable period, whether or not such Eurocurrency Rate Loan was in fact so funded. 
 SECTION 3.06. Matters
Applicable to All Requests for Compensation. (a) Any Agent or any Lender claiming compensation under this Article 3 shall deliver a certificate to the Company setting forth the additional amount or amounts to be paid to it hereunder which
shall be conclusive in the absence of manifest error. In determining such amount, such Agent or such Lender may use any reasonable averaging and attribution methods. 

(b) With respect to any Lender’s claim for compensation under Section 3.01, 3.02, 3.03 or 3.04, the Borrower
shall not be required to compensate such Lender for any amount incurred more than one hundred and eighty (180) days prior to the date that such Lender notifies the Borrower of the event that gives rise to such claim; provided that, if
the circumstance giving rise to such claim is retroactive, then such 180-day period referred to above shall be extended to include the period of retroactive effect thereof. If any Lender requests compensation by the Company under Section 3.04,
the Company may, by notice to such Lender (with a copy to the Administrative Agent), suspend the obligation of such Lender to make or continue from one Interest Period to another Eurocurrency Rate Loans, or to convert Base Rate Loans into
Eurocurrency Rate Loans, until the event or condition giving rise to such request ceases to be in effect (in which case the provisions of Section 3.06(c) shall be applicable); provided that such suspension shall not affect the right of
such Lender to receive the compensation so requested. 
 (c) If the obligation of any Lender to make or
continue from one Interest Period to another any Eurocurrency Rate Loan, or to convert Base Rate Loans into Eurocurrency Rate Loans shall be suspended pursuant to Section 3.06(b) hereof, such Lender’s Eurocurrency Rate Loans shall be
automatically converted into Base Rate Loans on the last day(s) of the then current Interest Period(s) for such Eurocurrency Rate Loans (or, in the case of an immediate conversion required by Section 3.02, on such earlier date as required by
Law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 3.01, 3.02, 3.03 or 3.04 hereof that gave rise to such conversion no longer exist: 

(i) to the extent that such Lender’s Eurocurrency Rate Loans have been so converted, all payments and prepayments of
principal that would otherwise be applied to such Lender’s Eurocurrency Rate Loans shall be applied instead to its Base Rate Loans; and 

  
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 (ii) all Loans that would otherwise be made or continued from one Interest
Period to another by such Lender as Eurocurrency Rate Loans shall be made or continued instead as Base Rate Loans, and all Base Rate Loans of such Lender that would otherwise be converted into Eurocurrency Rate Loans shall remain as Base Rate Loans.

 (d) If any Lender gives notice to the Company (with a copy to the Administrative Agent) that the circumstances
specified in Section 3.01, 3.02, 3.03 or 3.04 hereof that gave rise to the conversion of such Lender’s Eurocurrency Rate Loans pursuant to this Section 3.06 no longer exist (which such Lender agrees to do promptly upon such
circumstances ceasing to exist) at a time when Eurocurrency Rate Loans made by other Lenders are outstanding, such Lender’s Base Rate Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such
outstanding Eurocurrency Rate Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding Eurocurrency Rate Loans and by such Lender are held pro rata (as to principal amounts, interest rate basis, and
Interest Periods) in accordance with their respective Commitments. 
 SECTION 3.07. Replacement of Lenders under Certain
Circumstances. (a) If at any time (i) the Borrower becomes obligated to pay additional amounts or indemnity payments described in Section 3.01 or 3.04 as a result of any condition described in such Sections or any Lender ceases to
make Eurocurrency Rate Loans as a result of any condition described in Section 3.02 or Section 3.04, (ii) any Lender becomes a Defaulting Lender or (iii) any Lender becomes a Non-Consenting Lender, then the Company may, on ten
(10) Business Days’ prior written notice to the Administrative Agent and such Lender, replace such Lender by causing such Lender to (and such Lender shall be obligated to) assign pursuant to Section 10.07(b) (with the assignment fee
to be paid by the Company in such instance) all of its rights and obligations under this Agreement to one or more Eligible Assignees; provided that neither the Administrative Agent nor any Lender shall have any obligation to the Company to
find a replacement Lender or other such Person; and provided further that (A) in the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments required to be made pursuant to
Section 3.01, such assignment will result in a reduction in such compensation or payments and (B) in the case of any such assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable Eligible Assignees shall have
agreed to the applicable departure, waiver or amendment of the Loan Documents. 
 (b) Any Lender being replaced
pursuant to Section 3.07(a) above shall (i) execute and deliver an Assignment and Assumption with respect to such Lender’s Commitment and outstanding Loans and participations in L/C Obligations and Swing Line Loans and
(ii) deliver any Notes evidencing such Loans to the Company or Administrative Agent. Pursuant to such Assignment 

  
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 and Assumption, (A) the assignee Lender shall acquire all or a portion, as the case may
be, of the assigning Lender’s Commitment and outstanding Loans and participations in L/C Obligations and Swing Line Loans, (B) all obligations of the Borrower owing to the assigning Lender relating to the Loans and participations so
assigned shall be paid in full by the assignee Lender to such assigning Lender concurrently with such assignment and assumption and (C) upon such payment and, if so requested by the assignee Lender, delivery to the assignee Lender of the
appropriate Note or Notes executed by the Borrower, the assignee Lender shall become a Lender hereunder and the assigning Lender shall cease to constitute a Lender hereunder with respect to such assigned Loans, Commitments and participations, except
with respect to indemnification provisions under this Agreement, which shall survive as to such assigning Lender. 
 (c) Notwithstanding anything to the contrary contained above, any Lender that acts as an L/C Issuer may not be replaced hereunder at any time that it has any Letter of Credit outstanding hereunder unless
arrangements reasonably satisfactory to such L/C Issuer (including the furnishing of a back-up standby letter of credit in form and substance, and issued by an issuer reasonably satisfactory to such L/C Issuer or the depositing of cash collateral
into a cash collateral account in amounts and pursuant to arrangements reasonably satisfactory to such L/C Issuer) have been made with respect to each such outstanding Letter of Credit and the Lender that acts as the Administrative Agent may not be
replaced hereunder except in accordance with the terms of Section 9.09. 
 (d) In the event that
(i) the Company or the Administrative Agent has requested that the Lenders consent to a departure or waiver of any provisions of the Loan Documents or agree to any amendment thereto, (ii) the consent, waiver or amendment in question
requires the agreement of all affected Lenders in accordance with the terms of Section 10.01 or all the Lenders with respect to a certain Class of the Loans and (iii) the Required Lenders have agreed to such consent, waiver or amendment,
then any Lender who does not agree to such consent, waiver or amendment shall be deemed a “Non-Consenting Lender.” 
 SECTION 3.08. Survival. All of the Borrower’s obligations under this Article 3 shall survive termination of the Aggregate Commitments and repayment of all other
Obligations hereunder. 
 ARTICLE IV 
 Conditions Precedent to Credit Extensions and AS Separation 

SECTION 4.01. [Reserved].  
 SECTION 4.02. Conditions to All Credit Extensions. The obligation of each Lender to honor any Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to the
other Type, or a continuation of Eurocurrency Rate Loans) is subject to the following conditions precedent: 

  
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 (a) The representations and warranties of the Borrower and each other Loan
Party contained in Article 5 or any other Loan Document shall be true and correct in all material respects on and as of the date of such Credit Extension; provided that, to the extent that such representations and warranties specifically
refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided, further that, any representation and warranty that is qualified as to “materiality,” “Material Adverse
Effect” or similar language shall be true and correct in all respects on such respective dates. 
 (b) No
Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds therefrom. 
 (c) The Administrative Agent and, if applicable, the relevant L/C Issuer or the Swing Line Lender shall have received a Request for Credit Extension in accordance with the requirements hereof. 

Each Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to the other Type or a
continuation of Eurocurrency Rate Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable
Credit Extension. 
 SECTION 4.03. Conditions to AS Separation. The consummation of the AS Separation shall be subject to
the satisfaction of the following conditions precedent (the “AS Separation Conditions”): 
 (a)
SunGard Capital Corporation shall have received a private letter ruling from the IRS (the “AS Separation IRS Ruling”) on or before the AS Separation Date, to the effect that, subject to customary assumptions and limitations, the AS
Separation Transactions will qualify for the Intended Tax Treatment; the AS Separation IRS Ruling shall be in full force and effect on the AS Separation Date; and the AS Separation Transactions and any related actions taken by Holdings, the Company,
AS Spinco or any of their Affiliates in connection with the AS Separation shall in all material respects be consistent with the conditions imposed and assumptions and representations made in such AS Separation IRS Ruling by and to the IRS with
respect to, the AS Separation Transactions. 
 (b) SunGard Capital Corporation shall have received an opinion of
counsel (the “AS Separation Tax Opinion”) from Shearman & Sterling LLP (or such other tax counsel reasonably acceptable to the Administrative Agent), which opinion may rely on the AS Separation IRS Ruling (including any
assumptions, facts and representations therein), statements and letters to the Company or its Affiliates from investment bankers in relation to the business purpose of the AS 

  
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 Separation and from any other professional advisors and consultants, statements by the
Company, its Affiliates, its officers and its shareholders, and other customary items, which opinion shall be to the effect that, subject to customary assumptions, limitations, and representations, the AS Separation Transactions will qualify for the
Intended Tax Treatment, including that the AS Separation Transactions will not cause the Company to be subject to tax under Section 355(e) of the Code because of the transactions described as the “Proposed Transaction” in the AS
Separation IRS Ruling (provided that such opinion shall not address events subsequent to the Qualifying IPO described in Section 6.16 hereof); the AS Separation Tax Opinion shall not have been withdrawn prior to the AS Separation; and
the AS Separation Transactions and any related actions taken by Holdings, the Company, AS Spinco or any of their Affiliates in connection with the AS Separation shall in all material respects be consistent with the assumptions, limitations and
representations made in the AS Separation Tax Opinion. 
 (c) On and as of the AS Separation Date, the conditions
set forth in Section 4.02(a) and (b) shall be satisfied with the same effect as if each reference therein to a Credit Extension were a reference to the AS Separation, and the Administrative Agent shall have received a certificate of a
Responsible Officer, dated as of the AS Separation Date, confirming the foregoing. 
 (d) After giving effect to
the AS Separation Transactions and the other actions contemplated or required hereby to be taken on the AS Separation Date and assuming the consummation of the Qualifying IPO contemplated by Section 6.16 and the intended use of proceeds thereof
as projected to be received in the good faith determination by the Company, the Company shall be in Pro Forma Compliance with the covenants set forth in Section 7.11(a) and (b) as of the end of and for the Test Period most recently ended
prior to the AS Separation Date for which financial statements have been delivered pursuant to Section 6.01(a) or (b), and the Administrative Agent shall have received a certificate of a Responsible Officer, dated as of the AS Separation Date,
confirming the foregoing and setting forth a computation in reasonable detail demonstrating such compliance. 

(e) Prior to the AS Separation Date, the Company shall have issued SunGard Short Term Notes in contemplation of the AS
Separation Transactions and shall have entered into the AS Exchange Agreement pursuant to which the SunGard Short Term Note are to be exchanged for AS Spinco Securities on or about the AS Separation Date. 

(f) The Borrower shall have reduced (or substantially simultaneously with the AS Separation shall reduce) the Revolving
Credit Commitments of the Revolving Credit Lenders in effect immediately prior to the AS Separation Date by 25% in the aggregate and on a pro rata basis among such Revolving Credit Lenders pursuant to, and in accordance with, Section 2.06(a)
and, in connection therewith and to the extent required by Section 2.05(b)(v), shall have prepaid Revolving Credit Loans and Swing Line Loans and/or Cash Collateralized L/C Obligations. 

  
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 (g) The Administrative Agent shall have received a certificate in
substantially in the form of Exhibit P from the Chief Financial Officer of the Company, dated the AS Separation Date, attesting to the Solvency of the Loan Parties (on a consolidated basis) after giving effect to the AS Separation Transactions.

 ARTICLE V 
 Representations and Warranties 
 The Company represents and warrants
to the Agents and the Lenders that: 
 SECTION 5.01. Existence, Qualification and Power; Compliance with Laws. Each Loan
Party and each of its Subsidiaries (a) is a Person duly organized or formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority to
(i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, (c) is duly qualified and in good standing under the Laws of each
jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, (d) is in compliance with all Laws, orders, writs, injunctions and orders and (e) has all requisite governmental
licenses, authorizations, consents and approvals to operate its business as currently conducted; except in each case referred to in clause (c), (d) or (e), to the extent that failure to do so could not reasonably be expected to have a Material
Adverse Effect. 
 SECTION 5.02. Authorization; No Contravention. The execution, delivery and performance by each Loan
Party of each Loan Document to which such Person is a party, and the consummation of the Transaction, are within such Loan Party’s corporate or other powers, have been duly authorized by all necessary corporate or other organizational action,
and do not and will not (a) contravene the terms of any of such Person’s Organization Documents, (b) conflict with or result in any breach or contravention of, or the creation of any Lien under (other than as permitted by
Section 7.01), or require any payment to be made under (i) (x) any Existing Notes Documentation or (y) any other Contractual Obligation to which such Person is a party or affecting such Person or the properties of such Person or any
of its Subsidiaries or (ii) any material order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any material Law; except with respect to any
conflict, breach or contravention or payment (but not creation of Liens) referred to in clause (b)(i), to the extent that such conflict, breach, contravention or payment could not reasonably be expected to have a Material Adverse Effect. 

SECTION 5.03. Governmental Authorization; Other Consents. No material approval, consent, exemption, authorization, or other action
by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in 

  
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 connection with (a) the execution, delivery or performance by, or enforcement against, any Loan Party
of this Agreement or any other Loan Document, or for the consummation of the Transaction, (b) the grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents, (c) the perfection or maintenance of the Liens
created under the Collateral Documents (including the priority thereof) or (d) the exercise by the Administrative Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the Collateral
Documents, except for (i) filings necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties, (ii) the approvals, consents, exemptions, authorizations, actions, notices and filings which
have been duly obtained, taken, given or made and are in full force and effect and (iii) those approvals, consents, exemptions, authorizations or other actions, notices or filings, the failure of which to obtain or make could not reasonably be
expected to have a Material Adverse Effect. 
 SECTION 5.04. Binding Effect. This Agreement and each other Loan Document
has been duly executed and delivered by each Loan Party that is party thereto. This Agreement and each other Loan Document constitutes a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is party
thereto in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity. 
 SECTION 5.05. Financial Statements; No Material Adverse Effect. (a) (i) The Audited Financial Statements fairly present in all material respects the financial condition of SunGard and its
Subsidiaries as of the dates thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the periods covered thereby, except as otherwise expressly noted therein. During the period
from December 31, 2011 to and including the Fifth Amendment Effective Date, there has been (i) no sale, transfer or other disposition by SunGard or any of its Subsidiaries of any material part of the business or property of SunGard or any
of its Subsidiaries, taken as a whole and (ii) no purchase or other acquisition by SunGard or any of its Subsidiaries of any business or property (including any Equity Interests of any other Person) material in relation to the consolidated
financial condition of SunGard and its Subsidiaries, in each case, which is not reflected in the foregoing financial statements or in the notes thereto or has not otherwise been disclosed in writing to the Lenders prior to the Fifth Amendment
Effective Date. 
 (ii) The unaudited consolidated balance sheets and related statements of income,
stockholders’ equity and cash flows of SunGard and its Subsidiaries for the fiscal quarter and nine-month period ended September 30, 2012, which financial statements have been prepared in accordance with GAAP, fairly present in all
material respects the financial condition of SunGard and its Subsidiaries as of the dates thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the periods covered thereby,
except as otherwise expressly noted therein. 
 (iii) [Reserved]. 

  
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 (b) Since December 31, 2011, there has been no event or circumstance,
either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 
 (c) The forecasts of consolidated balance sheets, income statements and cash flow statements of the Company and its Subsidiaries for each fiscal year ending after the Fifth Amendment Effective Date until
the fiscal year ending December 31, 2016, copies of which have been furnished to the Administrative Agent prior to the Fifth Amendment Effective Date consistent in form and detail with forecasts previously furnished to the Administrative Agent,
have been prepared in good faith on the basis of the assumptions stated therein, which assumptions were believed to be reasonable at the time of preparation of such forecasts, it being understood that actual results may vary from such forecasts and
that such variations may be material. 
 (d) As of the Fifth Amendment Effective Date, neither the Company nor
any Subsidiary has any Indebtedness or other obligations or liabilities, direct or contingent (other than (i) the liabilities reflected on Schedule 5.05, (ii) obligations arising under this Agreement and (iii) liabilities
incurred in the ordinary course of business) that, either individually or in the aggregate, have had or could reasonably be expected to have a Material Adverse Effect. 
 SECTION 5.06. Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower, threatened in writing or contemplated, at law, in equity, in
arbitration or before any Governmental Authority, by or against the Company or any of its Subsidiaries or against any of their properties or revenues that either individually or in the aggregate, could reasonably be expected to have a Material
Adverse Effect. 
 SECTION 5.07. No Default. Neither the Company nor any Subsidiary is in default under or with respect
to, or a party to, any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 SECTION 5.08. Ownership of Property; Liens. Each Loan Party and each of its Subsidiaries has good record and marketable title in fee simple to, or valid leasehold interests in, or easements or
other limited property interests in, all real property necessary in the ordinary conduct of its business, free and clear of all Liens except for minor defects in title that do not materially interfere with its ability to conduct its business or to
utilize such assets for their intended purposes and Liens permitted by Section 7.01 and except where the failure to have such title could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 SECTION 5.09. Environmental Compliance. (a) There are no claims, actions, suits, or proceedings alleging
potential liability or responsibility for violation of, or otherwise relating to, any Environmental Law that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 (b) Except as specifically disclosed in Schedule 5.09(b) or except as
could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, (i) none of the properties currently or formerly owned, leased or operated by any Loan Party or any of its Subsidiaries is listed or proposed
for listing on the NPL or on the CERCLIS or any analogous foreign, state or local list or is adjacent to any such property; (ii) there are no and never have been any underground or aboveground storage tanks or any surface impoundments, septic
tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed on any property currently owned, leased or operated by any Loan Party or any of its Subsidiaries or, to its knowledge, on any property
formerly owned or operated by any Loan Party or any of its Subsidiaries; (iii) there is no asbestos or asbestos-containing material on any property currently owned or operated by any Loan Party or any of its Subsidiaries; and
(iv) Hazardous Materials have not been released, discharged or disposed of by any Person on any property currently or formerly owned, leased or operated by any Loan Party or any of its Subsidiaries and Hazardous Materials have not otherwise
been released, discharged or disposed of by any of the Loan Parties and their Subsidiaries at any other location. 
 (c) The properties owned, leased or operated by the Company and the Subsidiaries do not contain any Hazardous Materials in amounts or concentrations which (i) constitute, or constituted a violation
of, (ii) require remedial action under or (iii) could give rise to liability under, Environmental Laws, which violations, remedial actions and liabilities, individually or in the aggregate, could reasonably be expected to result in a
Material Adverse Effect. 
 (d) Except as specifically disclosed in Schedule 5.09(d), neither the Borrower
nor any of its Subsidiaries is undertaking, and has not completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened
release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any Environmental Law except for such investigation or
assessment or remedial or response action that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
 (e) All Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by any Loan Party or any of its Subsidiaries
have been disposed of in a manner not reasonably expected to result, individually or in the aggregate, in a Material Adverse Effect. 

  
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 (f) Except as would not reasonably be expected to result, individually or in
the aggregate, in a Material Adverse Effect, none of the Loan Parties and their Subsidiaries has contractually assumed any liability or obligation under or relating to any Environmental Law. 

SECTION 5.10. Taxes. Except as set forth in Schedule 5.10 and except as could not, either individually or in the aggregate,
reasonably be expected to result in a Material Adverse Effect, the Company and its Subsidiaries have filed all Federal and state and other tax returns and reports required to be filed, and have paid all Federal and state and other taxes,
assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those (a) which are not overdue by more than thirty (30) days or (b) which are being
contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP. 
 SECTION 5.11. ERISA Compliance. (a) Except as set forth in Schedule 5.11(a) or as could not, either individually or in the aggregate, reasonably be expected to result in a Material
Adverse Effect, each Plan is in compliance in with the applicable provisions of ERISA, the Code and other Federal or state Laws. 
 (b) (i) No ERISA 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 Pension Plan; (ii) no Pension Plan has
an “accumulated funding deficiency” (as defined in Section 412 of the Code), whether or not waived; (iii) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under
Title IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any
liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (v) neither any Loan
Party nor any ERISA Affiliate has engaged in a transaction that could be subject to Sections 4069 or 4212(c) of ERISA, except, with respect to each of the foregoing clauses of this Section 5.11(b), as could not reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect. 
 SECTION 5.12. Subsidiaries; Equity
Interests. As of the Fifth Amendment Effective Date, neither Holdings nor any Loan Party has any Subsidiaries other than those specifically disclosed in Schedule 5.12, and all of the outstanding Equity Interests in material Subsidiaries have
been validly issued, are fully paid and nonassessable and all Equity Interests owned by Holdings or a Loan Party are owned free and clear of all Liens except (i) those created under the Collateral Documents and (ii) any nonconsensual Lien
that is permitted under Section 7.01. As of the Fifth Amendment Effective Date, Schedule 5.12 (a) sets forth the name and jurisdiction of each Subsidiary, and (b) sets forth the ownership interest of Holdings, the Company and any
other Subsidiary in each Subsidiary, including the percentage of such ownership. On the AS Separation Date, the assets and operations of the AS Business will be owned and 

  
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 conducted solely by the AS Subsidiaries (except to the extent such assets or operations are subject to the
AS Separation Documents), and the AS Subsidiaries will not own any significant assets or conduct any significant operations not associated with the AS Business. 
 SECTION 5.13. Margin Regulations; Investment Company Act; Public Utility Holding Company Act. (a) The Borrower is not engaged nor will it engage, principally or as one of its important
activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock, and no proceeds of any Borrowings or drawings
under any Letter of Credit will be used for any purpose that violates Regulation U. 
 (b) None of the Company,
any Person Controlling the Company, or any Subsidiary (other than a Broker-Dealer Subsidiary) (i) is a “holding company,” or a “subsidiary company” of a “holding company,” or an “affiliate” of a
“holding company” or of a “subsidiary company” of a “holding company,” within the meaning of the Public Utility Holding Company Act of 1935, or (ii) is or is required to be registered as an “investment
company” under the Investment Company Act of 1940. 
 SECTION 5.14. Disclosure. No report, financial statement,
certificate or other written information furnished by or on behalf of any Loan Party to any Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or any other Loan
Document (as modified or supplemented by other information so furnished) when taken as a whole contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not materially misleading; provided that, with respect to projected financial information and pro forma financial information, the Company represents only that such information was prepared in good faith based upon
assumptions believed to be reasonable at the time of preparation; it being understood that such projections may vary from actual results and that such variances may be material. 

SECTION 5.15. Intellectual Property; Licenses, Etc. Each of the Loan Parties and their Subsidiaries own, license or possess the
right to use, all of the trademarks, service marks, trade names, domain names, copyrights, patents, patent rights, licenses, technology, software, know-how database rights, design rights and other intellectual property rights (collectively,
“IP Rights”) that are reasonably necessary for the operation of their respective businesses as currently conducted, and, without conflict with the rights of any Person, except to the extent such conflicts, either individually or in
the aggregate, could not reasonably be expected to have a Material Adverse Effect. No IP Rights, advertising, product, process, method, substance, part or other material used by any Loan Party or any Subsidiary in the operation of their respective
businesses as currently conducted infringes upon any rights held by any Person except for such infringements, individually or in the aggregate, which could not reasonably be expected to have a Material Adverse Effect. No claim or litigation
regarding any of the IP Rights, is pending or, to the knowledge of the Borrower, threatened against any Loan Party or Subsidiary, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.


  
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 SECTION 5.16. Solvency. On the Fifth Amendment Effective Date, after giving effect to
the transactions contemplated hereby to be consummated on such date, the Loan Parties, on a consolidated basis, are Solvent; and on the AS Separation Date, after giving effect to the AS Separation Transactions and the other transactions contemplated
hereby to be consummated on such date, the Loan Parties, on a consolidated basis, will be Solvent. 
 SECTION 5.17.
[Reserved]. 
 SECTION 5.18. Subordination of Junior Financing. The Obligations are “Senior Debt,”
“Senior Indebtedness,” “Guarantor Senior Debt” or “Senior Secured Financing” (or any comparable term) under, and as defined in, any Junior Financing Documentation. 

SECTION 5.19. Labor Matters. Except as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect:
(a) there are no strikes or other labor disputes against any of Holdings, the Company or its Subsidiaries pending or, to the knowledge of Holdings or the Company, threatened; (b) hours worked by and payment made to employees of each of
Holdings, the Company or its Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Laws dealing with such matters; and (c) all payments due from any of Holdings, the Company or its Subsidiaries on
account of employee health and welfare insurance have been paid or accrued as a liability on the books of the relevant party. 

ARTICLE VI 

Affirmative Covenants 
 So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder which is accrued and payable shall remain unpaid or unsatisfied, or any Letter of Credit shall remain
outstanding, each of Holdings and the Company shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02 and 6.03) cause each Restricted Subsidiary to: 

SECTION 6.01. Financial Statements. Deliver to the Administrative Agent for prompt further distribution to each Lender:

 (a) as soon as available, but in any event within ninety (90) days after the end of each fiscal year of
the Company beginning with the 2011 fiscal year, a consolidated balance sheet of the Company and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, stockholders’ equity and cash
flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a


  
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 report and opinion of PricewaterhouseCoopers LLP or any other independent registered public
accounting firm of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or
any qualification or exception as to the scope of such audit; 
 (b) as soon as available, but in any event
within forty-five (45) days after the end of each of the first three (3) fiscal quarters of each fiscal year of the Company, a consolidated balance sheet of the Company and its Subsidiaries as at the end of such fiscal quarter, and the
related (i) consolidated statements of income or operations for such fiscal quarter and for the portion of the fiscal year then ended and (ii) consolidated statements of cash flows for the portion of the fiscal year then ended, setting
forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of the
Company as fairly presenting in all material respects the financial condition, results of operations, stockholders’ equity and cash flows of the Company and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit
adjustments and the absence of footnotes; 
 (c) as soon as available, and in any event no later than ninety
(90) days after the end of each fiscal year of the Company, a detailed consolidated budget for the following fiscal year (including a projected consolidated balance sheet of the Company and its Subsidiaries as of the end of the following fiscal
year, the related consolidated statements of projected cash flow and projected income and a summary of the material underlying assumptions applicable thereto), and, as soon as available, significant revisions, if any, of such budget and projections
with respect to such fiscal year (collectively, the “Projections”), which Projections shall in each case be accompanied by a certificate of a Responsible Officer stating that such Projections are based on reasonable estimates,
information and assumptions and that such Responsible Officer has no reason to believe that such Projections are incorrect or misleading in any material respect; and 

(d) simultaneously with the delivery of each set of consolidated financial statements referred to in Sections 6.01(a) and
6.01(b) above, the related consolidating financial statements reflecting the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such consolidated financial statements. 

Notwithstanding the foregoing, the obligations in paragraphs (a) and (b) of this Section 6.01 may be satisfied with respect to financial
information of the Company and the Restricted Subsidiaries by furnishing (A) the applicable financial statements of Holdings (or any direct or indirect parent of Holdings) or (B) the Company’s or Holdings’ (or any direct or
indirect parent thereof), as applicable, Form 10-K or 10-Q, as applicable, filed with the SEC; provided that, with respect to each of clauses (A) and (B), (i) to the extent such information relates to Holdings (or a parent thereof),
such information is 

  
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 accompanied by consolidating information that explains in reasonable detail the differences between the
information relating to Holdings (or such parent), on the one hand, and the information relating to the Company and the Restricted Subsidiaries on a standalone basis, on the other hand and (ii) to the extent such information is in lieu of
information required to be provided under Section 6.01(a), such materials are accompanied by a report and opinion of PricewaterhouseCoopers LLP or any other independent registered public accounting firm of nationally recognized standing, which
report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such
audit. 
 SECTION 6.02. Certificates; Other Information. Deliver to the Administrative Agent for prompt further
distribution to each Lender: 
 (a) no later than five (5) days after the delivery of the financial
statements referred to in Section 6.01(a), a certificate of its independent registered public accounting firm certifying such financial statements and stating that in the course of (i) making the examination necessary therefor and
(ii) performing certain other procedures permitted by professional standards, no knowledge was obtained of any Event of Default under Section 7.11 or, if any Event of Default shall exist, stating the nature of such event; 

(b) no later than five (5) days after the delivery of the financial statements referred to in Section 6.01(a)
and (b), a duly completed Compliance Certificate signed by a Responsible Officer of the Company and, if such Compliance Certificate demonstrates an Event of Default of any covenant under Section 7.11, any of the Equity Investors may deliver,
together with such Compliance Certificate, notice of their intent to cure (a “Notice of Intent to Cure”) such Event of Default pursuant to Section 8.05; provided that the delivery of a Notice of Intent to Cure shall in
no way affect or alter the occurrence, existence or continuation of any such Event of Default or the rights, benefits, powers and remedies of the Administrative Agent and the Lenders under any Loan Document; 

(c) promptly after the same are publicly available, copies of all annual, regular, periodic and special reports and
registration statements which the Company files with the SEC or with any Governmental Authority that may be substituted therefor (other than amendments to any registration statement (to the extent such registration statement, in the form it became
effective, is delivered), exhibits to any registration statement and, if applicable, any registration statement on Form S-8) and in any case not otherwise required to be delivered to the Administrative Agent pursuant hereto; 

(d) promptly after the furnishing thereof, copies of any material requests or material notices received by any Loan Party
(other than in the ordinary course of business) or material statements or material reports furnished to any holder of debt securities of any Loan Party or of any of its Subsidiaries pursuant 

  
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 to the terms of any Existing Notes Documentation, New Notes Documentation or Junior
Financing Documentation in a principal amount greater than the Threshold Amount and not otherwise required to be furnished to the Lenders pursuant to any other clause of this Section 6.02; 

(e) together with the delivery of each Compliance Certificate pursuant to Section 6.02(b), (i) a report setting
forth the information required by Section 3.03(c) of the Security Agreement or confirming that there has been no change in such information since the Closing Date or the date of the last such report), (ii) a description of each event,
condition or circumstance during the last fiscal quarter covered by such Compliance Certificate requiring a mandatory prepayment under Section 2.05(b) and (iii) a list of each Subsidiary that identifies each Subsidiary as a Restricted or
an Unrestricted Subsidiary as of the date of delivery of such Compliance Certificate; and 
 (f) promptly, such
additional information regarding the business, legal, financial or corporate affairs of any Loan Party or any Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender through the Administrative Agent
may from time to time reasonably request. 
 Documents required to be delivered pursuant to Section 6.01(a) or (b) or
Section 6.02(c) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Company
posts such documents, or provides a link thereto on the Company’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such documents are posted on the Company’s behalf on IntraLinks/IntraAgency or
another relevant website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that: (i) upon written request by the
Administrative Agent, the Company shall deliver paper copies of such documents to the Administrative Agent for further distribution to each Lender until a written request to cease delivering paper copies is given by the Administrative Agent and
(ii) the Company shall notify (which may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies)
of such documents. Notwithstanding anything contained herein, in every instance the Company shall be required to provide paper copies of the Compliance Certificates required by Section 6.02(b) to the Administrative Agent. Each Lender shall be
solely responsible for timely accessing posted documents or requesting delivery of paper copies of such documents from the Administrative Agent and maintaining its copies of such documents. 

SECTION 6.03. Notices. Promptly after obtaining knowledge thereof, notify the Administrative Agent: 

(a) of the occurrence of any Default; and 

  
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 (b) of any matter that has resulted or could reasonably be expected to
result in a Material Adverse Effect, including arising out of or resulting from (i) breach or non-performance of, or any default or event of default under, a Contractual Obligation of any Loan Party or any Subsidiary, (ii) any dispute,
litigation, investigation, proceeding or suspension between any Loan Party or any Subsidiary and any Governmental Authority, (iii) the commencement of, or any material development in, any litigation or proceeding affecting any Loan Party or any
Subsidiary, including pursuant to any applicable Environmental Laws or in respect of IP Rights or the assertion or occurrence of any noncompliance by any Loan Party or as any of its Subsidiaries with, or liability under, any Environmental Law or
Environmental Permit or (iv) the occurrence of any ERISA Event. 
 Each notice pursuant to this Section shall be
accompanied by a written statement of a Responsible Officer of the Company (x) that such notice is being delivered pursuant to Section 6.03(a) or (b) (as applicable) and (y) setting forth details of the occurrence referred to
therein and stating what action the Company has taken and proposes to take with respect thereto. 
 SECTION 6.04. Payment of
Obligations. Pay, discharge or otherwise satisfy as the same shall become due and payable, all its obligations and liabilities in respect of taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or
in respect of its property, except, in each case, to the extent the failure to pay or discharge the same could not reasonably be expected to have a Material Adverse Effect. 
 SECTION 6.05. Preservation of Existence, Etc. (a) Preserve, renew and maintain in full force and effect its legal existence under the Laws of the jurisdiction of its organization except in a
transaction permitted by Section 7.04 or 7.05 and (b) take all reasonable action to maintain all rights, privileges (including its good standing), permits, licenses and franchises necessary or desirable in the normal conduct of its
business, except (i) to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect or (ii) pursuant to a transaction permitted by Section 7.04 or 7.05. 

SECTION 6.06. Maintenance of Properties. Except if the failure to do so could not reasonably be expected to have a Material
Adverse Effect, (a) maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order, repair and condition, ordinary wear and tear excepted and casualty or condemnation
excepted and (b) make all necessary renewals, replacements, modifications, improvements, upgrades, extensions and additions thereof or thereto in accordance with prudent industry practice. 

SECTION 6.07. Maintenance of Insurance. Maintain with financially sound and reputable insurance companies, insurance with respect
to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts (after giving


  
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 effect to any self-insurance reasonable and customary for similarly situated Persons engaged in the same or
similar businesses as the Company and the Restricted Subsidiaries) as are customarily carried under similar circumstances by such other Persons. 
 SECTION 6.08. Compliance with Laws. Comply in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property,
except if the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 
 SECTION 6.09.
Books and Records. Maintain proper books of record and account, in which entries that are full, true and correct in all material respects and are in conformity with GAAP consistently applied shall be made of all material financial
transactions and matters involving the assets and business of the Company or such Subsidiary, as the case may be. 
 SECTION
6.10. Inspection Rights. Permit representatives and independent contractors of the Administrative Agent and each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies
thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at the reasonable expense of the Company and at such reasonable times during normal business
hours and as often as may be reasonably desired, upon reasonable advance notice to the Company; provided that, excluding any such visits and inspections during the continuation of an Event of Default, only the Administrative Agent on behalf
of the Lenders may exercise rights of the Administrative Agent and the Lenders under this Section 6.10 and the Administrative Agent shall not exercise such rights more often than two (2) times during any calendar year absent the existence
of an Event of Default and only one (1) such time shall be at the Company’s expense; provided further that when an Event of Default exists, the Administrative Agent or any Lender (or any of their respective representatives or
independent contractors) may do any of the foregoing at the expense of the Company at any time during normal business hours and upon reasonable advance notice. The Administrative Agent and the Lenders shall give the Company the opportunity to
participate in any discussions with the Company’s independent public accountants. 
 SECTION 6.11. Covenant to Guarantee
Obligations and Give Security. At the Company’s expense, take all action necessary or reasonably requested by the Administrative Agent to ensure that the Collateral and Guarantee Requirement continues to be satisfied, including: 

(a) upon the formation or acquisition of any new direct or indirect wholly owned Domestic Subsidiary (other than an
Unrestricted Subsidiary or an Excluded Subsidiary) by any Loan Party or the designation in accordance with Section 6.15 of any existing direct or indirect wholly owned Domestic Subsidiary as a Restricted Subsidiary: 

  
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 (i) within thirty (30) days after such formation, acquisition or
designation or such longer period as the Administrative Agent may agree in its discretion: 
 (A) cause each such
Restricted Subsidiary that is required to become a Guarantor under the Collateral and Guarantee Requirement to furnish to the Administrative Agent a description of the real properties owned by such Restricted Subsidiary that, have a book value in
excess of $5,000,000, in detail reasonably satisfactory to the Administrative Agent; 
 (B) cause
(x) each such Restricted Subsidiary that is required to become a Guarantor pursuant to the Collateral and Guarantee Requirement to duly execute and deliver to the Administrative Agent or the Collateral Agent (as appropriate) Mortgages, Security
Agreement Supplements, Intellectual Property Security Agreements and other security agreements and documents (including, with respect to Mortgages, the documents listed in Section 6.13(b)), as reasonably requested by and in form and substance
reasonably satisfactory to the Administrative Agent (consistent with the Mortgages, Security Agreement, Intellectual Property Security Agreements and other security agreements in effect on the Closing Date), in each case granting Liens required by
the Collateral and Guarantee Requirement and (y) each direct or indirect parent of each such Restricted Subsidiary that is required to be a Guarantor pursuant to the Collateral and Guarantee Requirement to duly execute and deliver to the
Administrative Agent such Security Agreement Supplements and other security agreements as reasonably requested by and in form and substance reasonably satisfactory to the Administrative Agent (consistent with the Security Agreements in effect on the
Closing Date), in each case granting Liens required by the Collateral and Guarantee Requirement; 
 (C)
(x) cause each such Restricted Subsidiary that is required to become a Guarantor pursuant to the Collateral and Guarantee Requirement to deliver any and all certificates representing Equity Interests (to the extent certificated) that are
required to be pledged pursuant to the Collateral and Guarantee Requirement, accompanied by undated stock powers or other appropriate instruments of transfer executed in blank and instruments evidencing the intercompany Indebtedness held by such
Restricted Subsidiary and required to be pledged pursuant to the Collateral Documents, indorsed in blank to the Collateral Agent and (y) cause each direct or indirect parent of such Restricted Subsidiary that is required to be a Guarantor
pursuant to the Collateral and Guarantee Requirement to deliver any and all certificates representing the outstanding Equity Interests (to the extent certificated) of such Restricted Subsidiary that are required to be pledged pursuant to the
Collateral and Guarantee Requirement, accompanied by undated stock powers or other appropriate instruments of transfer executed in blank and instruments evidencing the intercompany Indebtedness issued by such Restricted Subsidiary and required to be
pledged in accordance with the Collateral Documents, indorsed in blank to the Collateral Agent; 

  
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 (D) take and cause such Restricted Subsidiary and each direct or indirect
parent of such Restricted Subsidiary to take whatever action (including the recording of Mortgages, the filing of Uniform Commercial Code financing statements and delivery of stock and membership interest certificates) may be necessary in the
reasonable opinion of the Administrative Agent to vest in the Administrative Agent (or in any representative of the Administrative Agent designated by it) valid Liens required by the Collateral and Guarantee Requirement, enforceable against all
third parties in accordance with their terms, except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity, 
 (ii) within thirty (30) days after the request therefor by the Administrative Agent, deliver to the Administrative Agent a signed copy of an opinion, addressed to the Administrative Agent and the
other Secured Parties, of counsel for the Loan Parties reasonably acceptable to the Administrative Agent as to such matters set forth in this Section 6.11(a) as the Administrative Agent may reasonably request, and 

(iii) as promptly as practicable after the request therefor by the Administrative Agent, deliver to the Administrative
Agent with respect to each parcel of real property that is owned by such Restricted Subsidiary and has a book value in excess of $5,000,000 any existing title reports, surveys or environmental assessment reports. 

(b) (i) [Reserved]; 
 (ii) the Company shall obtain the security interests and Guarantees set forth on Schedule 1.01B on or prior to the dates corresponding to such security interests and Guarantees set forth on Schedule
1.01B; and 
 (iii) after the Closing Date, concurrently with (x) the acquisition of any material personal
property by any Loan Party, or (y) the acquisition of any owned real property by any Loan Party with a book value in excess of $5,000,000, and such personal property or owned real property shall not already be subject to a perfected Lien
pursuant to the Collateral and Guarantee Requirement, the Company shall give notice thereof to the Administrative Agent and promptly thereafter shall cause such assets to be subjected to a Lien to the extent required by the Collateral and Guarantee
Requirement and will take, or cause the relevant Loan Party to take, such actions as shall be necessary or reasonably requested by the Administrative Agent to grant and perfect or record such Lien, including, as applicable, the actions referred to
in Section 6.13(b) with respect to real property. 

  
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 SECTION 6.12. Compliance with Environmental Laws. Except, in each case, to the extent
that the failure to do so could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, comply, and take all reasonable actions to cause all lessees and other Persons operating or occupying its properties to
comply with all applicable Environmental Laws and Environmental Permits; obtain and renew all Environmental Permits necessary for its operations and properties; and, in each case to the extent required by Environmental Laws, conduct any
investigation, study, sampling and testing, and undertake any cleanup, removal, remedial or other action necessary to remove and clean up all Hazardous Materials from any of its properties, in accordance with the requirements of all Environmental
Laws. 
 SECTION 6.13. Further Assurances and Post-Closing Conditions. (a) Promptly upon reasonable request by the
Administrative Agent (i) correct any material defect or error that may be discovered in the execution, acknowledgment, filing or recordation of any Collateral Document or other document or instrument relating to any Collateral and (ii) do,
execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments as the Administrative Agent may reasonably request from time to time in
order to carry out more effectively the purposes of the Collateral Documents. 
 (b) In the case of any real
property referred to in Section 6.11(b), provide the Administrative Agent with Mortgages with respect to such owned real property within thirty (30) days of the acquisition of such real property together with: 

(i) evidence that counterparts of the Mortgages have been duly executed, acknowledged and delivered and are in form
suitable for filing or recording in all filing or recording offices that the Administrative Agent may deem reasonably necessary or desirable in order to create a valid and subsisting perfected Lien on the property and/or rights described therein in
favor of the Administrative Agent or the Collateral Agent (as appropriate) for the benefit of the Secured Parties and that all filing and recording taxes and fees have been paid or otherwise provided for in a manner reasonably satisfactory to the
Administrative Agent; 
 (ii) fully paid American Land Title Association Lender’s Extended Coverage title
insurance policies or the equivalent or other form available in each applicable jurisdiction (the “Mortgage Policies”) in form and substance, with endorsements and in amount, reasonably acceptable to the Administrative Agent (not to
exceed the value of the real properties covered thereby), issued, coinsured and reinsured by title insurers reasonably acceptable to the Administrative Agent, insuring the Mortgages to be valid subsisting Liens on the property described therein,
free and clear of all defects and encumbrances, subject to Liens permitted by Section 7.01, and providing for such other affirmative insurance (including endorsements for future advances under the Loan Documents) and such coinsurance and direct
access reinsurance as the Administrative Agent may reasonably request; 

  
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 (iii) opinions of local counsel for the Loan Parties in states in which the
real properties are located, with respect to the enforceability and perfection of the Mortgages and any related fixture filings in form and substance reasonably satisfactory to the Administrative Agent; 

(iv) [reserved]; and 
 (v) such other evidence that all other actions that the Administrative Agent may reasonably deem necessary or desirable in order to create valid and subsisting Liens on the property described in the
Mortgages have been taken. 
 SECTION 6.14. [Reserved]. 

SECTION 6.15. Designation of Subsidiaries. The board of directors of Holdings may at any time designate any Restricted Subsidiary
as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; provided that (i) immediately before and after such designation, no Default shall have occurred and be continuing, (ii) immediately after
giving effect to such designation, the Company and the Restricted Subsidiaries shall be in compliance, on a Pro Forma Basis, with the covenants set forth in Section 7.11(a) and (b) (and, as a condition precedent to the effectiveness of any
such designation, the Company shall deliver to the Administrative Agent a certificate setting forth in reasonable detail the calculations demonstrating such compliance), (iii) no Subsidiary may be designated as an Unrestricted Subsidiary if
such Subsidiary is the Borrower, (iv) no Subsidiary may be designated as an Unrestricted Subsidiary if it is a “Restricted Subsidiary” for the purpose of the Existing Notes, the New Notes, any Junior Financing or any Permitted
Refinancing of any of the foregoing, as applicable, and (v) no Restricted Subsidiary may be designated as an Unrestricted Subsidiary if it was previously designated an Unrestricted Subsidiary. The designation of any Subsidiary as an
Unrestricted Subsidiary shall constitute an Investment by the Company therein at the date of designation in an amount equal to the net book value of the Company’s (as applicable) investment therein. The designation of any Unrestricted
Subsidiary as a Restricted Subsidiary shall constitute the incurrence at the time of designation of any Indebtedness or Liens of such Subsidiary existing at such time. 
 SECTION 6.16. Post-AS Separation Qualifying IPO. Within 20 days of the AS Separation Date, consummate a Qualifying IPO. 
 ARTICLE VII 
 Negative Covenants 

So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder which is accrued and payable shall
remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, Holdings and the Company shall not, nor shall they permit any of their Restricted Subsidiaries to, directly or indirectly: 

  
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 SECTION 7.01. Liens. Create, incur, assume or suffer to exist any Lien upon any of
its property, assets or revenues, whether now owned or hereafter acquired, other than the following: 
 (a) Liens
pursuant to any Loan Document; 
 (b) Liens existing on the Closing Date and listed on Schedule 7.01(b) and any
modifications, replacements, renewals or extensions thereof; provided that (i) the Lien does not extend to any additional property other than (A) after-acquired property that is affixed or incorporated into the property covered by
such Lien or financed by Indebtedness permitted under Section 7.03 and (B) proceeds and products thereof, and (ii) the renewal, extension or refinancing of the obligations secured or benefited by such Liens is permitted by
Section 7.03; 
 (c) Liens for taxes, assessments or governmental charges which are not overdue for a period
of more than thirty (30) days or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance
with GAAP; 
 (d) statutory Liens of landlords, carriers, warehousemen, mechanics, materialmen, repairmen,
construction contractors or other like Liens arising in the ordinary course of business which secure amounts not overdue for a period of more than thirty (30) days or if more than thirty (30) days overdue, are unfiled and no other action
has been taken to enforce such Lien or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with
GAAP; 
 (e) (i) pledges or deposits in the ordinary course of business in connection with workers’
compensation, 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 Holdings, the Company or any Restricted Subsidiary; 

(f) deposits to secure the performance of bids, trade contracts, governmental contracts and leases (other than
Indebtedness for borrowed money), statutory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like nature (including those to secure health, safety and environmental obligations) incurred in the
ordinary course of business; 

  
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 (g) easements, rights-of-way, restrictions, encroachments, protrusions and
other similar encumbrances and minor title defects affecting real property which, in the aggregate, do not in any case materially interfere with the ordinary conduct of the business of the Company or any material Subsidiary; 

(h) Liens securing judgments for the payment of money not constituting an Event of Default under Section 8.01(h);

 (i) Liens securing Indebtedness permitted under Section 7.03(e); provided that (i) such Liens
attach concurrently with or within two hundred and seventy (270) days after the acquisition, repair, replacement, construction or improvement (as applicable) of the property subject to such Liens, (ii) such Liens do not at any time
encumber any property except for accessions to such property other than the property financed by such Indebtedness and the proceeds and the products thereof and (iii) with respect to Capitalized Leases, such Liens do not at any time extend to
or cover any assets (except for accessions to such assets) other than the assets subject to such Capitalized Leases; provided that individual financings of equipment provided by one lender may be cross collateralized to other financings of
equipment provided by such lender; 
 (j) leases, licenses, subleases or sublicenses granted to others in
the ordinary course of business which do not (i) interfere in any material respect with the business of the Company or any material Subsidiary or (ii) secure any Indebtedness; 

(k) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in
connection with the importation of goods in the ordinary course of business; 
 (l) Liens (i) of a
collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course of collection, (ii) attaching to commodity trading accounts or other commodities brokerage accounts incurred in the ordinary course of
business and (iii) in favor of a banking institution arising as a matter of law encumbering deposits (including the right of set-off) and which are within the general parameters customary in the banking industry; 

(m) Liens (i) on cash advances in favor of the seller of any property to be acquired in an Investment permitted
pursuant to Sections 7.02(g), (i) and (n) to be applied against the purchase price for such Investment and (ii) consisting of an agreement to Dispose of any property in a Disposition permitted under Section 7.05, in each case,
solely to the extent such Investment or Disposition, as the case may be, would have been permitted on the date of the creation of such Lien; 
 (n) Liens on property (i) of any Foreign Subsidiary that is not a Loan Party and (ii) that does not constitute Collateral, which Liens secure Indebtedness of the applicable Foreign Subsidiary
permitted under Section 7.03; 

  
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 (o) Liens in favor of the Company or a Restricted Subsidiary securing
Indebtedness permitted under Section 7.03(d); 
 (p) Liens existing on property at the time of its
acquisition or existing on the property of any Person at the time such Person becomes a Restricted Subsidiary (other than by designation as a Restricted Subsidiary pursuant to Section 6.15), in each case after the Closing Date (other than Liens
on the Equity Interests of any Person that becomes a Restricted Subsidiary); provided that (i) such Lien was not created in contemplation of such acquisition or such Person becoming a Restricted Subsidiary, (ii) such Lien does not
extend to or cover any other assets or property (other than the proceeds or products thereof and other than after-acquired property subjected to a Lien securing Indebtedness and other obligations incurred prior to such time and which Indebtedness
and other obligations are permitted hereunder that require, pursuant to their terms at such time, a pledge of after-acquired property, it being understood that such requirement shall not be permitted to apply to any property to which such
requirement would not have applied but for such acquisition) and (iii) the Indebtedness secured thereby is permitted under Section 7.03(e), (g), (h), or (k); 

(q) any interest or title of a lessor under leases entered into by the Company or any of the Restricted Subsidiaries in
the ordinary course of business; 
 (r) Liens arising out of conditional sale, title retention, consignment or
similar arrangements for sale of goods entered into by the Company or any of the Restricted Subsidiaries in the ordinary course of business permitted by this Agreement; 

(s) Liens deemed to exist in connection with Investments in repurchase agreements under Section 7.02; 

(t) 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; 
 (u) 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 Holdings, the Company or any Restricted Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of Holdings, the Company and the Restricted Subsidiaries or
(iii) relating to purchase orders and other agreements entered into with customers of Holdings, the Company or any Restricted Subsidiary in the ordinary course of business; 

(v) Liens solely on any cash earnest money deposits made by Holdings, the Company or any of the Restricted Subsidiaries in
connection with any letter of intent or purchase agreement permitted hereunder; 

  
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 (w) (i) Liens placed upon the Equity Interests of any Restricted
Subsidiary acquired pursuant to a Permitted Acquisition to secure Indebtedness incurred pursuant to Section 7.03(g) in connection with such Permitted Acquisition and (ii) Liens placed upon the assets of such Restricted Subsidiary and any
of its Subsidiaries to secure a Guarantee by such Restricted Subsidiary and its Subsidiaries of any such Indebtedness incurred pursuant to Section 7.03(g); 
 (x) Liens in respect of the Receivables Facility; 
 (y)
Broker-Dealer Liens in respect of the Broker-Dealer Facility; 
 (z) Pari Passu Liens; 

(aa) ground leases in respect of real property on which facilities owned or leased by the Company or any of its
Subsidiaries are located; 
 (bb) other Liens securing Indebtedness outstanding in an aggregate principal amount
not to exceed $75,000,000; and 
 (cc) Liens on the Collateral securing (i) Permitted First Priority
Refinancing Debt and Permitted Second Priority Refinancing Debt permitted under Section 7.03(x) and (ii) Alternative Incremental Facility Debt permitted under Section 7.03(z). 
 Notwithstanding the foregoing, no Liens on any IP Collateral shall be permitted at any time, other than pursuant to Section 7.01(a), (b), (c), (h), (j), (m), (o), (p), (r), (u)(iii) or (w).

 SECTION 7.02. Investments. Make or hold any Investments, except: 

(a) Investments by the Company or a Restricted Subsidiary in assets that were Cash Equivalents when such Investment was
made; 
 (b) loans or advances to officers, directors and employees of Holdings, the Company and the Restricted
Subsidiaries (i) for reasonable and customary business-related travel, entertainment, relocation and analogous ordinary business purposes, (ii) in connection with such Person’s purchase of Equity Interests of Holdings (or any direct
or indirect parent thereof) (provided that the amount of such loans and advances shall be contributed to the Company in cash as common equity) and (iii) for purposes not described in the foregoing clauses (i) and (ii), in an
aggregate principal amount outstanding not to exceed $10,000,000; 
 (c) Investments (i) by Holdings, the
Company or any Restricted Subsidiary in any Loan Party (excluding any new Restricted Subsidiary which becomes a Loan Party and excluding any Foreign Subsidiary), (ii) by any Restricted Subsidiary that is not a Loan Party in any other such
Restricted 

  
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 Subsidiary that is also not a Loan Party, (iii) by the Company or any Restricted
Subsidiary (A) in any Foreign Subsidiary; provided that the aggregate amount of such Investments after the Fourth Amendment Effective Date in Foreign Subsidiaries that are not Loan Parties (together with, but without duplication, the
aggregate consideration paid after the Fourth Amendment Effective Date in respect of Permitted Acquisitions of Persons that do not become Loan Parties pursuant to Section 7.02(i)(B)) shall not exceed $325,000,000 (net of any return representing
a return of capital in respect of any such Investment) or (B) in any Foreign Subsidiary that is a Loan Party, consisting of the contribution of Equity Interests of any other Foreign Subsidiary held directly by the Company or such Restricted
Subsidiary in exchange for Indebtedness, Equity Interests or a combination thereof of the Foreign Subsidiary to which such contribution is made, (C) in any Foreign Subsidiary, constituting an exchange of Equity Interests of such Foreign
Subsidiary for Indebtedness of such Foreign Subsidiary or (D) constituting Guarantees of Indebtedness or other monetary obligations of Foreign Subsidiaries owing to any Loan Party, (iv) by any Foreign Subsidiary that is a Loan Party in any
other Foreign Subsidiary that is a Loan Party (other than any new Restricted Subsidiary that becomes a Loan Party) and (v) by the Company or any of its Subsidiaries in connection with the AS Separation Transactions and in accordance with the AS
Separation IRS Ruling (including the investment of cash or Cash Equivalents in AS New LLC in an amount not to exceed an amount reasonably determined by the Company to be reasonably necessary to fund the initial working capital needs of AS Spinco and
the AS Subsidiaries following the AS Separation after taking into account any working capital facilities of AS Spinco and the AS Subsidiaries to be in effect on the AS Separation Date); 

(d) Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from
the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors and other credits to suppliers in the ordinary course of business;

 (e) Investments consisting of Liens, Indebtedness, fundamental changes, Dispositions and Restricted Payments
permitted under Sections 7.01, 7.03, 7.04, 7.05 and 7.06, respectively; 
 (f) Investments (i) existing or
contemplated on the Closing Date and set forth on Schedule 7.02(f) and any modification, replacement, renewal, reinvestment or extension thereof and (ii) Investments existing on the Closing Date by the Company or any Restricted Subsidiary in
the Company or any other Restricted Subsidiary and any modification, renewal or extension thereof; provided that the amount of the original Investment is not increased except by the terms of such Investment or as otherwise permitted by this
Section 7.02; 
 (g) Investments in Swap Contracts permitted under Section 7.03; 

  
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 (h) promissory notes and other noncash consideration received in connection
with Dispositions permitted by Section 7.05; 
 (i) the purchase or other acquisition of property and assets
or businesses of any Person or of assets constituting a business unit, a line of business or division of such Person, or Equity Interests in a Person that, upon the consummation thereof, will be, except as contemplated by clause (B) below, a
wholly owned Subsidiary of the Company (including as a result of a merger or consolidation); provided that, with respect to each purchase or other acquisition made pursuant to this Section 7.02(i) (each, a “Permitted
Acquisition”): 
 (A) subject to clause (B) below, a majority of all property, assets and
businesses acquired in such purchase or other acquisition shall constitute Collateral and each applicable Loan Party and any such newly created or acquired Subsidiary (and, to the extent required under the Collateral and Guarantee Requirement, the
Subsidiaries of such created or acquired Subsidiary) shall be a Guarantor and shall have complied with the requirements of Section 6.11, within the times specified therein; 

(B) the aggregate amount of consideration paid after the Fourth Amendment Effective Date by Loan Parties in respect of
acquisitions of Persons that do not become Loan Parties (together with the aggregate amount of all Investments after the Fourth Amendment Effective Date in Foreign Subsidiaries that are not Loan Parties pursuant to Section 7.02(c)(iii)(A))
shall not exceed $325,000,000 (net of any return representing a return of capital in respect of any such Investment); 
 (C) the Company is in compliance with Section 7.07 after giving effect to such purchase or acquisition; 
 (D) (1) immediately before and immediately after giving Pro Forma Effect to any such purchase or other acquisition, no Default shall have occurred and be continuing and (2) immediately after
giving effect to such purchase or other acquisition, the Company and the Restricted Subsidiaries shall be in Pro Forma Compliance with all of the covenants set forth in Section 7.11(a) and (b), such compliance to be determined on the basis of
the financial information most recently delivered to the Administrative Agent and the Lenders pursuant to Section 6.01(a) or (b) as though such purchase or other acquisition had been consummated as of the first day of the fiscal period
covered thereby and evidenced by a certificate from the Chief Financial Officer of the Company demonstrating such compliance calculation in reasonable detail; and 

(E) the Company shall have delivered to the Administrative Agent, on behalf of the Lenders, no later than five
(5) Business Days after the date on which any such purchase or other acquisition is consummated, a certificate of a Responsible Officer, in form and substance reasonably 

  
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 satisfactory to the Administrative Agent, certifying that all of the requirements set forth
in this clause (i) have been satisfied or will be satisfied on or prior to the consummation of such purchase or other acquisition; 
 (j) the Transaction; 
 (k) Investments in the ordinary course of
business consisting of Article 3 endorsements for collection or deposit and Article 4 customary trade arrangements with customers consistent with past practices; 

(l) Investments (including debt obligations and Equity Interests) received in connection with the bankruptcy or
reorganization of suppliers and customers or in settlement of delinquent obligations of, or other disputes with, customers and suppliers arising in the ordinary course of business or upon the foreclosure with respect to any secured Investment or
other transfer of title with respect to any secured Investment; 
 (m) loans and advances to Holdings (or any
direct or indirect parent thereof) in lieu of, and not in excess of the amount of (after giving effect to any other loans, advances or Restricted Payments in respect thereof), Restricted Payments to the extent permitted to be made to Holdings (or
such parent) in accordance with Sections 7.06(h), (i) or (j); 
 (n) so long as immediately after
giving effect to any such Investment, no Default has occurred and is continuing and the Company and the Restricted Subsidiaries will be in Pro Forma Compliance with the covenants set forth in Section 7.11(a) and (b), other Investments made
after the Fourth Amendment Effective Date that do not exceed $500,000,000 in the aggregate, net of any return representing return of capital in respect of any such investment and valued at the time of the making thereof; provided that, such
amount shall be increased by (i) the Net Cash Proceeds of Permitted Equity Issuances (other than Permitted Equity Issuances made pursuant to Section 8.05) that are Not Otherwise Applied and (ii) if, as of the last day of the
immediately preceding Test Period (after giving Pro Forma Effect to such Investments) the Total Leverage Ratio is 5.50:1 or less, the amount of Cumulative Excess Cash Flow that is Not Otherwise Applied; 

(o) advances of payroll payments to employees in the ordinary course of business; 

(p) Investments to the extent that payment for such Investments is made solely with capital stock of Holdings (or the
Company after a Qualifying IPO of the Company); 
 (q) Investments of a Restricted Subsidiary acquired after the
Closing Date or of a corporation merged into the Company or merged or consolidated with a Restricted Subsidiary in accordance with Section 7.04 after 

  
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 the Closing Date to the extent that such Investments were not made in contemplation of or in
connection with such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or consolidation; 
 (r) Investments arising as a result of the Receivables Facility; and 
 (s) Guarantees by Holdings, the Company or any Restricted Subsidiary of leases (other than Capitalized Leases) or of other obligations that do not constitute Indebtedness, in each case entered into in the
ordinary course of business; 
 provided that no Investment in an Unrestricted Subsidiary that would otherwise be permitted under this
Section 7.02 shall be permitted hereunder to the extent that any portion of such Investment is used to make any prepayments, redemptions, purchases, defeasances and other payments in respect of Junior Financings. 

SECTION 7.03. Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, except: 

(a) Indebtedness of Holdings, the Company and any of its Subsidiaries under the Loan Documents (including any Indebtedness
incurred pursuant to Sections 2.15 and 2.18); 
 (b) Indebtedness (i) outstanding on the Closing Date and
listed on Schedule 7.03(b) and any Permitted Refinancing thereof and (ii) intercompany Indebtedness outstanding on the Closing Date; 
 (c) Guarantees by Holdings, the Company and the Restricted Subsidiaries in respect of Indebtedness of the Company or any Restricted Subsidiary otherwise permitted hereunder; provided that
(A) no Guarantee by any Restricted Subsidiary of any Existing Note, New Note or Junior Financing shall be permitted unless such Restricted Subsidiary shall have also provided a Guarantee of the Obligations substantially on the terms set forth
in the Subsidiary Guaranty and (B) if the Indebtedness being Guaranteed is subordinated to the Obligations, such Guarantee shall be subordinated to the Guarantee of the Obligations on terms at least as favorable to the Lenders as those
contained in the subordination of such Indebtedness; 
 (d) Indebtedness of the Company or any Restricted
Subsidiary owing to the Company or any other Restricted Subsidiary to the extent constituting an Investment permitted by Section 7.02; provided that, all such Indebtedness of any Loan Party owed to any Person that is not a Loan Party
shall be subject to the subordination terms set forth in Section 5.03 of the Security Agreement; 
 (e)
(i) Attributable Indebtedness and other Indebtedness (including Capitalized Leases) financing the acquisition, construction, repair, replacement or improvement of fixed or capital assets, other than software; provided that such
Indebtedness is incurred concurrently with or within two hundred and seventy 

  
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 (270) days after the applicable acquisition, construction, repair, replacement or
improvement, (ii) Attributable Indebtedness arising out of sale-leaseback transactions permitted by Section 7.05(f) and (iii) any Permitted Refinancing of any Indebtedness set forth in the immediately preceding clauses (i) and
(ii); 
 (f) Indebtedness in respect of Swap Contracts designed to hedge against interest rates, foreign exchange
rates or commodities pricing risks incurred in the ordinary course of business and not for speculative purposes; 

(g) Indebtedness of Foreign Subsidiaries or Guarantors (i) assumed in connection with any Permitted Acquisition or
(ii) incurred to finance a Permitted Acquisition, in each case, that is secured only by the assets or business acquired in the applicable Permitted Acquisition (including any acquired Equity Interests) and so long as both immediately prior and
after giving effect thereto, (A) no Default shall exist or result therefrom, (B) the Company and the Restricted Subsidiaries will be in Pro Forma Compliance with the covenants set forth in Section 7.11(a) and (b), and (C) the
aggregate principal amount of such Indebtedness and all Indebtedness resulting from any Permitted Refinancing thereof at any time outstanding pursuant to this paragraph (g) does not exceed $200,000,000; 

(h) (i) Indebtedness of Holdings, the Company and the Restricted Subsidiaries (A) assumed in connection with any
Permitted Acquisition; provided that such Indebtedness is not incurred in contemplation of such Permitted Acquisition or (B) incurred to finance a Permitted Acquisition and (ii) any Permitted Refinancing of the foregoing;
provided, in each case that such Indebtedness and all Indebtedness resulting from any Permitted Refinancing thereof (v) is unsecured or is subordinated to the Obligations on terms no less favorable to the Lenders than the subordination
terms set forth in the Senior Subordinated Notes Indenture as of the Closing Date, (w) both immediately prior and after giving effect thereto, (1) no Default shall exist or result therefrom and (2) the Company and the Restricted
Subsidiaries will be in Pro Forma Compliance with the covenants set forth in Section 7.11(a) and (b), (x) matures after, and does not require any scheduled amortization or other scheduled payments of principal prior to, the Latest Maturity
Date of the Term Loans at the time of the incurrence of such Indebtedness (it being understood that such Indebtedness may have mandatory prepayment, repurchase or redemptions provisions satisfying the requirement of clause (y) hereof),
(y) has terms and conditions (other than interest rate, redemption premiums and subordination terms), taken as a whole, that are not materially less favorable to the Company as the terms and conditions of the New Notes as of the Closing Date;
provided that a certificate of a Responsible Officer delivered to the Administrative Agent at least five Business Days 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 Company has determined in good faith that such terms and conditions satisfy the foregoing requirement shall be conclusive evidence that such terms and
conditions satisfy the foregoing requirement unless the Administrative Agent notifies the Company within such 

  
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 five Business Day period that it disagrees with such determination (including a reasonable
description of the basis upon which it disagrees); and (z) with respect to such Indebtedness described in the immediately preceding clause (B), is incurred by the Company or a Guarantor. 

(i) Indebtedness representing deferred compensation to employees of the Company and the Restricted Subsidiaries incurred
in the ordinary course of business; 
 (j) Indebtedness consisting of promissory notes issued by any Loan
Party to current or former officers, directors and employees, their respective estates, spouses or former spouses to finance the purchase or redemption of Equity Interests of Holdings permitted by Section 7.06; 

(k) Indebtedness incurred by Holdings, the Company or the Restricted Subsidiaries in a Permitted Acquisition, any other
Investment expressly permitted hereunder or any Disposition constituting indemnification obligations or obligations in respect of purchase price or other similar adjustments; 

(l) Indebtedness consisting of obligations of Holdings, the Company or the Restricted Subsidiaries under deferred
compensation or other similar arrangements incurred by such Person in connection with the Transaction and Permitted Acquisitions or any other Investment expressly permitted hereunder; 

(m) Cash Management Obligations and other Indebtedness in respect of netting services, employee credit or purchase card
programs, overdraft protections and similar arrangements in each case in the ordinary course of business; provided that the aggregate principal amount of Indebtedness incurred in respect of employee credit or purchase card programs pursuant
to this paragraph (m) shall not exceed $10,000,000 at any time outstanding; 
 (n) Indebtedness in an
aggregate principal amount not to exceed $750,000,000 at any time outstanding; provided that a maximum of $400,000,000 of aggregate principal amount of such Indebtedness (less the aggregate principal amount of Indebtedness of Foreign
Subsidiaries that are not Guarantors outstanding at any time under Section 7.03(g)) may be incurred on a secured basis by Foreign Subsidiaries that are not Guarantors solely for working capital purposes of, or financing Permitted Acquisitions
by, such Foreign Subsidiaries; 
 (o) Indebtedness consisting of (a) the financing of insurance premiums or
(b) take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business; 
 (p) Indebtedness incurred by the Company or any of the Restricted Subsidiaries in respect of letters of credit, bank guarantees, bankers’ acceptances or similar instruments issued or created in the
ordinary course of business, including in respect of workers compensation claims, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance or other Indebtedness with respect to reimbursement-type
obligations regarding workers compensation claims; provided that any reimbursement obligations in respect thereof are reimbursed within 30 days following the incurrence thereof; 

  
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 (q) obligations in respect of performance, bid, appeal and surety bonds and
performance and completion guarantees and similar obligations provided by the Company or any of the Restricted Subsidiaries or obligations in respect of letters of credit, bank guarantees or similar instruments related thereto, in each case in the
ordinary course of business or consistent with past practice; 
 (r) unsecured Indebtedness of Holdings
(“Permitted Holdings Debt”) (i) that is not subject to any Guarantee by the Company or any Restricted Subsidiary, (ii) that will not mature prior to the date that is ninety-one (91) days after the Latest Maturity Date
of the Term Loans at the time such Indebtedness is incurred, (iii) that has no scheduled amortization or payments of principal (it being understood that such Indebtedness may have mandatory prepayment, repurchase or redemption provisions
satisfying the requirements of clause (v) hereof), (iv) that does not require any payments in cash of interest or other amounts in respect of the principal thereof prior to the earlier to occur of (A) the date that is five
(5) years from the date of the issuance or incurrence thereof and (B) the date that is ninety-one (91) days after the Latest Maturity Date of the Term Loans at the time such Indebtedness is incurred, and (v) that has mandatory
prepayment, repurchase or redemption, covenant, default and remedy provisions customary for senior discount notes of an issuer that is the parent of a borrower under senior secured credit facilities, and in any event, with respect to covenant,
default and remedy provisions, no more restrictive than those set forth in the Senior Subordinated Notes Indenture as of the Closing Date, taken as a whole (other than provisions customary for senior discount notes of a holding company);
provided that a certificate of a Responsible Officer delivered to the Administrative Agent at least five Business Days 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 Company has determined in good faith that such terms and conditions satisfy the foregoing requirement shall be conclusive evidence that such terms and
conditions satisfy the foregoing requirement unless the Administrative Agent notifies the Company within such five Business Day period that it disagrees with such determination (including a reasonable description of the basis upon which it
disagrees); provided, further, that any such Indebtedness shall constitute Permitted Holdings Debt only if (1) both before and after giving effect to the issuance or incurrence thereof, no Default shall have occurred and be continuing
and (2) the Company and the Restricted Subsidiaries will be in Pro Forma Compliance with the covenants set forth in Section 7.11(a) and (b) (it being understood that any capitalized or paid-in-kind or accreted principal on such
Indebtedness is not subject to this proviso); 
 (s) Indebtedness supported by a Letter of Credit, in a principal
amount not to exceed the face amount of such Letter of Credit; 

  
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 (t) Indebtedness in respect of the Receivables Facility; provided
that if Net Cash Proceeds received from the issuance of SunGard Short Term Notes that were exchanged for AS Spinco Securities in connection with the AS Separation Transactions are applied to reduce amounts outstanding in respect of the
Receivables Facility pursuant to Section 2.05(b)(vi), the aggregate principal amount of Indebtedness under the Receivables Facility at any time thereafter shall not exceed the aggregate commitments under the Receivables Facility after giving
effect to such prepayment and the required reduction of commitments under the Receivable Facility required by Section 2.05(b)(vi); 
 (u) the Broker-Dealer Facility, in an aggregate principal amount of Indebtedness not to exceed $20,000,000 at any time outstanding; 

(v) Indebtedness in respect of the New Notes and any Permitted Refinancing thereof; 

(w) all premiums (if any), interest (including post-petition interest), fees, expenses, charges and additional or
contingent interest on obligations described in clauses (a) through (v) above; 
 (x) Permitted First
Priority Refinancing Debt and Permitted Second Priority Refinancing Debt and, to the extent the principal amount thereof does not exceed the principal amount of Permitted First Priority Refinancing Debt or Permitted Second Priority Refinancing Debt
refinanced thereby, any Permitted Refinancing thereof; 
 (y) Permitted Unsecured Refinancing Debt and any
Permitted Refinancing thereof; 
 (z) Alternative Incremental Facility Debt and, to the extent the principal
amount thereof does not exceed the principal amount of Alternative Incremental Facility Debt refinanced thereby, any Permitted Refinancing thereof; provided that (i) at the time of incurrence of any such Alternative Incremental Facility
Debt and after giving effect to such incurrence and the use of proceeds therefrom, no Default or Event of Default shall exist, (ii) the Company shall be in compliance with each of the covenants set forth in Section 7.11(a) and
(b) determined on a Pro Forma Basis as of the date such Alternative Incremental Facility Debt is incurred and the last day of the most recent Test Period, in each case, as if such Alternative Incremental Facility Debt had been outstanding on
the last day of such fiscal quarter of the Company for testing compliance therewith, (iii) each issuance of Alternative Incremental Facility Debt shall be in an aggregate principal amount that is not less than $50,000,000 (provided that
such amount may be less than $50,000,000 if such amount represents all remaining availability under the limit set forth in clause (iv)) and (iv) the aggregate amount of Incremental Term Loans, Revolving Commitment Increases and Alternative
Incremental Facility Debt (x) after the Fifth Amendment Effective Date and prior to the AS Separation Date shall not exceed $750,000,000 and (y) from and after the AS Separation Date


  
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 shall not exceed $500,000,000 less the aggregate principal amount (not in excess of
$500,000,000) of Incremental Term Loans, Revolving Commitment Increases and Alternative Incremental Facility Debt incurred after the Fifth Amendment Effective Date and prior to the AS Separation Date; provided, however, that the
Borrower shall not incur any Alternative Incremental Facility Debt during the Pre-IPO Period; and 
 (aa) the
SunGard Short Term Notes and any AS Spinco Securities exchanged for SunGard Short Term Notes pursuant to the AS Exchange Agreement in an aggregate principal amount at any time outstanding not in excess of $900,000,000. 

SECTION 7.04. Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in
one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that: 

(a) any Restricted Subsidiary may merge with (i) the Borrower (including a merger, the purpose of which is to
reorganize the Borrower into a new jurisdiction); provided that (x) the Borrower shall be the continuing or surviving Person and (y) such merger does not result in the Company ceasing to be incorporated under the Laws of the United
States, any state thereof or the District of Columbia, or (ii) any one or more other Restricted Subsidiaries; provided that when any Restricted Subsidiary that is a Loan Party is merging with another Restricted Subsidiary, a Loan Party
shall be the continuing or surviving Person; 
 (b) (i) any Subsidiary that is not a Loan Party may merge or
consolidate with or into any other Subsidiary that is not a Loan Party and (ii) any Subsidiary (other than the Borrower) may liquidate or dissolve or change its legal form if Holdings determines in good faith that such action is in the best
interests of Holdings and its Subsidiaries and if not materially disadvantageous to the Lenders; 
 (c) any
Restricted Subsidiary may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Company or to another Restricted Subsidiary; provided that if the transferor in such a transaction is a Guarantor or
the Borrower, then (i) the transferee must either be the Borrower or a Guarantor or (ii) to the extent constituting an Investment, such Investment must be a permitted Investment in or Indebtedness of a Restricted Subsidiary which is not a
Loan Party in accordance with Sections 7.02 and 7.03, respectively; 
 (d) so long as no Default exists or would
result therefrom, the Company may merge with any other Person; provided that (i) the Company shall be the continuing or surviving corporation or (ii) if the Person formed by or surviving any such merger or consolidation is not the
Company (any such Person, the “Successor Company”), (A) the Successor Company shall be an entity 

  
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 organized or existing under the laws of the United States, any state thereof, the District
of Columbia or any territory thereof, (B) the Successor Company shall expressly assume all the obligations of the Company under this Agreement and the other Loan Documents to which the Company is a party pursuant to a supplement hereto or
thereto in form reasonably satisfactory to the Administrative Agent, (C) each Guarantor, unless it is the other party to such merger or consolidation, shall have by a supplement to the Guaranty confirmed that its Guarantee shall apply to the
Successor Company’s obligations under this Agreement, (D) each Guarantor, unless it is the other party to such merger or consolidation, shall have by a supplement to the Security Agreement confirmed that its obligations thereunder shall
apply to the Successor Company’s obligations under this Agreement, (E) each mortgagor of a Mortgaged Property, unless it is the other party to such merger or consolidation, shall have by an amendment to or restatement of the applicable
Mortgage confirmed that its obligations thereunder shall apply to the Successor Company’s obligations under this Agreement and (F) the Company shall have delivered to the Administrative Agent an officer’s certificate and an opinion of
counsel, each stating that such merger or consolidation and such supplement to this Agreement or any Collateral Document comply with this Agreement; provided, further, that if the foregoing are satisfied, the Successor Company will
succeed to, and be substituted for, the Company under this Agreement; 
 (e) so long as no Default exists or
would result therefrom, any Restricted Subsidiary may merge with any other Person in order to effect an Investment permitted pursuant to Section 7.02; provided that the continuing or surviving Person shall be a Restricted Subsidiary,
which together with each of its Restricted Subsidiaries, shall have complied with the requirements of Section 6.11; 
 (f) the Company and the Restricted Subsidiaries may consummate the Merger; 
 (g) so long as no Default exists or would result therefrom, a merger, dissolution, liquidation, consolidation or Disposition, the purpose of which is to effect a Disposition permitted pursuant to
Section 7.05; and 
 (h) so long as no Default exists or would result therefrom (including any Change of
Control), Holdings (and any Successor Holding Company, as defined below) may merge with or be liquidated into any direct parent company holding 100% of the outstanding Equity Interests of Holdings; provided that (A) the Person formed by
or surviving any such merger or consolidation (if not Holdings) or acquiring the assets of Holdings in any such liquidation (any such Person, the “Successor Holding Company”) shall be an entity organized or existing under the laws
of the United States, any state thereof, the District of Columbia or any territory thereof and shall expressly assume all the obligations of Holdings under this Agreement and the other Loan Documents to which Holdings is a party (including the
Holdings Guaranty and all Collateral 

  
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 Documents to which Holdings is a party) pursuant to a supplement hereto or thereto in form
reasonably satisfactory to the Administrative Agent, (B) after giving effect to any such merger, consolidation or liquidation, Holdings or the Successor Holding Company, as the case may be, shall directly own 100% of the outstanding Equity
Interests of the Company, which shall continue to be pledged to secure the Obligations under the Collateral Documents and (C) the Company shall have delivered to the Administrative Agent a certificate of a Responsible Officer and an opinion of
outside counsel, each stating that such merger, consolidation or liquidation and any such supplements to this Agreement or any Collateral Document comply with this Agreement; provided, further, that if the foregoing are satisfied, the
Successor Holding Company will succeed to, and be substituted for, Holdings under this Agreement. 
 SECTION 7.05.
Dispositions. Make any Disposition or enter into any agreement to make any Disposition, except: 
 (a)
Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business and Dispositions of property no longer used or useful in the conduct of the business of the Company and the Restricted
Subsidiaries; 
 (b) Dispositions of inventory and immaterial assets in the ordinary course of business;

 (c) Dispositions of property to the extent that (i) such property is exchanged for credit against the
purchase price of similar replacement property or (ii) the proceeds of such Disposition are promptly applied to the purchase price of such replacement property; 

(d) Dispositions of property to the Company or to a Restricted Subsidiary; provided that if the transferor of such
property is a Guarantor or the Borrower (i) the transferee thereof must either be the Borrower or a Guarantor or (ii) to the extent such transaction constitutes an Investment, such transaction is permitted under Section 7.02;

 (e) Dispositions permitted by Sections 7.04 and 7.06 and Liens permitted by Section 7.01; 

(f) Dispositions of property (other than IP Collateral) pursuant to sale-leaseback transactions; provided that
(i) with respect to such property owned by the Company and its Restricted Subsidiaries on the Closing Date, the fair market value of all property so Disposed of after the Fourth Amendment Effective Date (taken together with the aggregate book
value of all property Disposed of pursuant to Section 7.05(k)) shall not exceed $900,000,000 and (ii) with respect to such property acquired by the Company or any Restricted Subsidiary after the Closing Date, the applicable sale-leaseback
transaction occurs within two hundred and seventy (270) days after the acquisition or construction (as applicable) of such property; 

  
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 (g) Dispositions of Cash Equivalents; 

(h) Dispositions of accounts receivable in connection with the collection or compromise thereof or in connection with the
Receivables Facility; 
 (i) leases, subleases, licenses or sublicenses (including the provision of Software
under an open source license), in each case in the ordinary course of business and which do not materially interfere with the business of Holdings, the Company and the Restricted Subsidiaries; 

(j) transfers of property subject to Casualty Events upon receipt of the Net Cash Proceeds of such Casualty Event;

 (k) Dispositions of property not otherwise permitted under this Section 7.05; provided that
(i) at the time of such Disposition (other than any such Disposition made pursuant to a legally binding commitment entered into at a time when no Default exists), no Default shall exist or would result from such Disposition, (ii) the
aggregate book value of all property Disposed of in reliance on this clause (k) after the Fourth Amendment Effective Date (taken together with the aggregate fair market value of all property Disposed of pursuant to Section 7.05(f)) shall
not exceed $900,000,000, and (iii) with respect to any Disposition pursuant to this clause (k) for a purchase price in excess of $10,000,000, the Company or a Restricted Subsidiary shall receive not less than 75% of such consideration in
the form of cash or Cash Equivalents (in each case, free and clear of all Liens at the time received, other than nonconsensual Liens permitted by Section 7.01 and Liens permitted by Section 7.01(s) and clauses (i) and (ii) of
Section 7.01(u)); provided, however, that for the purposes of this clause (iii), (A) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet provided hereunder or in the
footnotes thereto) of the Company or such Restricted Subsidiary, other than liabilities that are by their terms subordinated to the payment in cash of the Obligations, that are assumed by the transferee with respect to the applicable Disposition and
for which the Company and all of the Restricted Subsidiaries shall have been validly released by all applicable creditors in writing, (B) any securities received by the Company or such Restricted Subsidiary from such transferee that are
converted by the Company or such Restricted Subsidiary into cash (to the extent of the cash received) within 180 days following the closing of the applicable Disposition and (C) any Designated Non-Cash Consideration received by the Company or
such Restricted Subsidiary in respect of such Disposition having an aggregate fair market value, taken together with all other Designated Non-Cash Consideration received pursuant to this clause (C) that is at that time outstanding, not in
excess of 1.5% of Total Assets (as such term is defined in the New Notes Indenture as of the Closing Date) 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, shall be deemed to be cash; 

  
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 (l) Dispositions listed on Schedule 7.05(l); 

(m) 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; 
 (n) Dispositions (i)(x) of the AS Subsidiaries and other assets comprising the AS Business to AS New LLC and its subsidiaries, (y) of the Equity Interests in AS New LLC to AS Spinco, and
(z) of the AS Spinco Securities in exchange for the SunGard Short Term Notes, in each case in connection with or in contemplation of the AS Separation Transactions and (ii) provided that the AS Separation Conditions are satisfied at the
time thereof (or substantially concurrently therewith), the Disposition of 100% of the Equity Interests of AS Spinco on the AS Separation Date in connection with the AS Separation Transactions and as a result of Restricted Payments made pursuant to
Section 7.06(k); 
 (o) Dispositions of the AS Subsidiaries and other assets comprising the AS Business;
provided that (i) at the time of such Disposition (other than any such Disposition made pursuant to a legally binding commitment entered into at a time when no Default exists), no Default shall exist or would result from such
Disposition, (ii) the Company shall cause to be prepaid an aggregate amount of Term Loans in an amount equal to 100% of all Net Cash Proceeds received therefrom on or prior to the date which is ten (10) Business Days after the receipt of
such Net Cash Proceeds in accordance with Section 2.05(b)(ii), (iii) the Company shall have reduced (or substantially simultaneously with the first Disposition pursuant to this Section 7.05(o) shall reduce) the Revolving Credit
Commitments of the Revolving Credit Lenders in effect immediately prior to the date of the first Disposition pursuant to this Section 7.05(o) by 25% in the aggregate and on a pro rata basis among such Revolving Credit Lenders pursuant to, and
in accordance with, Section 2.06(a) and, in connection therewith and to the extent required by Section 2.05(b)(v) shall have prepaid Revolving Credit Loans and Swing Line Loans and/or Cash Collateralized L/C Obligations, and (iv) the
Total Secured Leverage Ratio as of the date of any Disposition pursuant to this Section 7.05(o) (calculated on a Pro Forma Basis after giving effect to such Disposition and the use of proceeds in connection therewith) shall not exceed the Total
Secured Leverage Ratio as of the date of such Disposition prior to giving Pro Forma Effect to such Disposition; and 
 (p) after the Fifth Amendment Effective Date, the Disposition of up to fifteen percent (15%) of the outstanding Equity Interests, with an aggregate book value not in excess of $1,000,000, of SunGard
Systems South Africa (Proprietary) Limited to an employee trust. 

  
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 provided that any Disposition of any property pursuant to this Section 7.05 (except pursuant to
Sections 7.05(e), 7.05(n) and 7.05(p) and except for Dispositions from a Loan Party to another Loan Party), shall be for no less than the fair market value of such property at the time of such Disposition. To the extent any Collateral is Disposed of
as expressly permitted by this Section 7.05 to any Person other than Holdings, the Company or any Restricted Subsidiary, such Collateral shall be sold free and clear of the Liens created by the Loan Documents, and the Administrative Agent or
the Collateral Agent, as applicable, shall be authorized to take any actions deemed appropriate in order to effect the foregoing. 
 SECTION 7.06. Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment, except: 
 (a) each Restricted Subsidiary may make Restricted Payments to the Company and to other Restricted Subsidiaries (and, in the case of a Restricted Payment by a non-wholly owned Restricted Subsidiary, to
the Company and any other Restricted Subsidiary and to each other owner of Equity Interests of such Restricted Subsidiary based on their relative ownership interests of the relevant class of Equity Interests); 

(b) Holdings, the Company and each Restricted Subsidiary may declare and make dividend payments or other distributions
payable solely in the Equity Interests (other than Disqualified Equity Interests not otherwise permitted by Section 7.03) of such Person; 
 (c) so long as no Default shall have occurred and be continuing or would result therefrom, from and after the date the Company delivers an irrevocable written notice to the Administrative Agent stating
that the Company will make Restricted Payments to Holdings that are used by Holdings solely to fund cash interest payments required to be made by Holdings (the “Holdings Restricted Payments Election”), the Company may make such
Restricted Payments to Holdings; 
 (d) Restricted Payments made on the Closing Date to consummate the
Transaction; 
 (e) to the extent constituting Restricted Payments, Holdings, the Company and the Restricted
Subsidiaries may enter into and consummate transactions expressly permitted by any provision of Section 7.04 or 7.08 other than Section 7.08(f); 
 (f) repurchases of Equity Interests in Holdings, the Company or any Restricted Subsidiary deemed to occur upon exercise of stock options or warrants if such Equity Interests represent a portion of the
exercise price of such options or warrants; 

  
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 (g) Holdings (or the Company after a Qualifying IPO of the Company) may pay
(or make Restricted Payments to allow any direct or indirect parent thereof to pay) for the repurchase, retirement or other acquisition or retirement for value of Equity Interests of Holdings (or of any such parent of Holdings or of the Company
after a Qualifying IPO of the Company) by any future, present or former employee or director of Holdings (or any direct or indirect parent of Holdings) or any of its Subsidiaries pursuant to any employee or director equity plan, employee or director
stock option plan or any other employee or director benefit plan or any agreement (including any stock subscription or shareholder agreement) with any employee or director of Holdings or any of its Subsidiaries; 

(h) the Company and its Restricted Subsidiaries may make Restricted Payments to Holdings: 

(i) the proceeds of which will be used to pay (or to make Restricted Payments to allow any direct or indirect parent of
Holdings to pay) the tax liability to each relevant jurisdiction in respect of consolidated, combined, unitary or affiliated returns for the relevant jurisdiction of Holdings (or such parent) attributable to Holdings, the Company or its Subsidiaries
determined as if the Company and its Subsidiaries filed separately; 
 (ii) the proceeds of which shall be used
by Holdings to pay (or to make Restricted Payments to allow any direct or indirect parent of Holdings to pay) its operating expenses incurred in the ordinary course of business and other corporate overhead costs and expenses (including
administrative, legal, accounting and similar expenses provided by third parties), which are reasonable and customary and incurred in the ordinary course of business, in an aggregate amount not to exceed $3,000,000 in any fiscal year plus any
reasonable and customary indemnification claims made by directors or officers of Holdings (or any parent thereof) attributable to the ownership or operations of the Company and its Subsidiaries; 

(iii) the proceeds of which shall be used by Holdings to pay franchise taxes and other fees, taxes and expenses required
to maintain its (or any of its direct or indirect parents’) corporate existence; 
 (iv) the proceeds of
which shall be used by Holdings to make Restricted Payments permitted by Section 7.06(g); 
 (v) to finance
any Investment permitted to be made pursuant to Section 7.02; provided that (A) such Restricted Payment shall be made substantially concurrently with the closing of such Investment and (B) Holdings shall, immediately following
the closing thereof, cause (1) all property acquired (whether assets or Equity Interests) to be contributed to the Company or its Restricted Subsidiaries or (2) the merger (to the extent permitted in Section 7.04) of the Person formed
or acquired into the Company or its Restricted Subsidiaries in order to consummate such Permitted Acquisition, in each case, in accordance with the requirements of Section 6.11; and 

  
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 (vi) the proceeds of which shall be used by Holdings to pay (or to make
Restricted Payments to allow any direct or indirect parent thereof to pay) fees and expenses (other than to Affiliates) related to any unsuccessful equity or debt offering permitted by this Agreement; 

(i) in addition to the foregoing Restricted Payments and so long as no Default shall have occurred and be continuing or
would result therefrom, the Company may make additional Restricted Payments to Holdings the proceeds of which may be utilized by Holdings to make additional Restricted Payments, in an aggregate amount, together with the aggregate amount of
(1) prepayments, redemptions, purchases, defeasances and other payments in respect of Junior Financings made pursuant to Section 7.13(a)(iv) and (2) loans and advances to Holdings made pursuant to Section 7.02(m) in lieu of
Restricted Payments permitted by this clause (i), not to exceed the sum of (i) $200,000,000, (ii) the aggregate amount of the Net Cash Proceeds of Permitted Equity Issuances (other than Permitted Equity Issuances made pursuant to
Section 8.05) that are Not Otherwise Applied and (iii) if the Total Leverage Ratio as of the last day of the immediately preceding Test Period (after giving Pro Forma Effect to such additional Restricted Payments) is 5.50:1 or less, the
amount of Cumulative Excess Cash Flow that is Not Otherwise Applied; provided, however, that the Company shall not make any Restricted Payments pursuant to this Section 7.06(i) during the Pre-IPO Period. For the purpose of this
Agreement, “Cumulative Excess Cash Flow” means the sum of Excess Cash Flow (but not less than zero in any period) for the fiscal year ending on December 31, 2006 and Excess Cash Flow for each succeeding and completed fiscal
year; 
 (j) Holdings or the Company may make Restricted Payments with the proceeds of the issuance of
Indebtedness of Holdings; 
 (k) Holdings or any Subsidiary of Holdings may make Restricted Payments consisting
of distributions of the Equity Interests of AS Spinco on the AS Separation Date necessary to effect the AS Separation; provided that the AS Separation Conditions shall have been satisfied at the time of (or substantially concurrently with)
such distributions; and 
 (l) in addition to the foregoing Restricted Payments, and so long as no Default shall
have occurred and be continuing or would result therefrom, the Company may make additional Restricted Payments to Holdings the proceeds of which may be utilized by Holdings to make additional Restricted Payments, with Net Cash Proceeds received from
the Borrowing of the Tranche D Term Loans and available cash in an aggregate amount not in excess of $750,000,000. 
 SECTION
7.07. Change in Nature of Business. Engage in any material line of business substantially different from those lines of business conducted by the Company and the Restricted Subsidiaries on the Closing Date or any business reasonably related
or ancillary thereto. 

  
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 SECTION 7.08. Transactions with Affiliates. Enter into any transaction of any kind
with any Affiliate of the Company, whether or not in the ordinary course of business, other than (a) transactions among Loan Parties or any Restricted Subsidiary or any entity that becomes a Restricted Subsidiary as a result of such
transaction, (b) on terms substantially as favorable to Holdings, the Company or such Restricted Subsidiary as would be obtainable by Holdings, the Company or such Restricted Subsidiary at the time in a comparable arm’s-length transaction
with a Person other than an Affiliate, (c) the payment of fees and expenses related to the Transaction, (d) the issuance of Equity Interests to the management of the Company or any of its Subsidiaries in connection with the Transaction,
(e) the payment of management and monitoring fees to the Sponsors in an aggregate amount in any fiscal year not to exceed the amount permitted to be paid pursuant to the Sponsor Management Agreement as in effect on the Closing Date and any
Sponsor Termination Fees not to exceed the amount set forth in the Sponsor Management Agreement as in effect on the Closing Date and related indemnities and reasonable expenses, (f) equity issuances, repurchases, retirements or other
acquisitions or retirements of Equity Interests by Holdings permitted under Section 7.06, (g) loans and other transactions by Holdings, the Company and the Restricted Subsidiaries to the extent permitted under this Article 7,
(h) employment and severance arrangements between Holdings, the Company and the Restricted Subsidiaries and their respective officers and employees in the ordinary course of business, (i) payments by Holdings (and any direct or indirect
parent thereof), the Company and the Restricted Subsidiaries pursuant to the tax sharing agreements among Holdings (and any such parent thereof), the Company and the Restricted Subsidiaries on customary terms to the extent attributable to the
ownership or operation of the Company and the Restricted Subsidiaries, (j) the payment of customary fees and reasonable out of pocket costs to, and indemnities provided on behalf of, directors, officers and employees of Holdings, the Company
and the Restricted Subsidiaries in the ordinary course of business to the extent attributable to the ownership or operation of Holdings, the Company and the Restricted Subsidiaries, (k) transactions pursuant to permitted agreements in existence
on the Closing Date and set forth on Schedule 7.08 or any amendment thereto to the extent such an amendment is not adverse to the Lenders in any material respect, (l) dividends, redemptions and repurchases permitted under Section 7.06,
(m) customary payments by Holdings, the Company and any Restricted Subsidiaries to the Sponsors made for any financial advisory, financing, underwriting or placement services or in respect of other investment banking activities (including in
connection with acquisitions or divestitures), which payments are approved by the majority of the members of the board of directors or a majority of the disinterested members of the board of directors of Holdings or the Company, in good faith and
(n) the entry into the AS Separation Documents, provided that such agreements are in form and substance customary for agreements entered into in connection with similar spin-off transactions, and (o) transactions between Holdings
and its Subsidiaries, on the one hand, and AS Spinco and its Subsidiaries, on the other hand, pursuant to such AS Separation Documents (or any amendment thereto to the extent such an amendment is not adverse to the Lenders in any material respect)
as in effect on the AS Separation Date. 
 SECTION 7.09. Burdensome Agreements. Enter into or permit to exist any
Contractual Obligation (other than this Agreement or any other Loan Document) that limits the ability of (a) any Restricted Subsidiary of the Company that is not a Guarantor 

  
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 to make Restricted Payments to the Company or any Guarantor or (b) the Company or any Loan Party to
create, incur, assume or suffer to exist Liens on property of such Person for the benefit of the Lenders with respect to the Facilities and the Obligations or under the Loan Documents; provided that the foregoing clauses (a) and
(b) shall not apply to Contractual Obligations which (i) (x) exist on the Fourth Amendment Effective Date and (to the extent not otherwise permitted by this Section 7.09) are listed on Schedule 7.09 hereto and (y) to the
extent Contractual Obligations permitted by clause (x) are set forth in an agreement evidencing Indebtedness, are set forth in any agreement evidencing any permitted renewal, extension or refinancing of such Indebtedness so long as such
renewal, extension or refinancing does not expand the scope of such Contractual Obligation, (ii) are binding on a Restricted Subsidiary at the time such Restricted Subsidiary first becomes a Restricted Subsidiary of the Company, so long as such
Contractual Obligations were not entered into solely in contemplation of such Person becoming a Restricted Subsidiary of the Company; provided further that this clause (ii) shall not apply to Contractual Obligations that are binding on a
Person that becomes a Restricted Subsidiary pursuant to Section 6.15, (iii) represent Indebtedness of a Restricted Subsidiary of the Company which is not a Loan Party which is permitted by Section 7.03, (iv) arise in connection
with any Disposition permitted by Section 7.05, (v) are customary provisions in joint venture agreements and other similar agreements applicable to joint ventures permitted under Section 7.02 and applicable solely to such joint
venture entered into in the ordinary course of business, (vi) are negative pledges and restrictions on Liens in favor of any holder of Indebtedness permitted under Section 7.03 but solely to the extent any negative pledge relates to the
property financed by or the subject of such Indebtedness (and excluding in any event any Indebtedness constituting any Junior Financing), (vii) are customary restrictions on leases, subleases, licenses or asset sale agreements otherwise
permitted hereby so long as such restrictions relate to the assets subject thereto, (viii) comprise restrictions imposed by any agreement relating to secured Indebtedness permitted pursuant to Section 7.03(e) or 7.03(g) to the extent that
such restrictions apply only to the property or assets securing such Indebtedness or, in the case of Indebtedness incurred pursuant to Section 7.03(g) only, to the Restricted Subsidiaries incurring or guaranteeing such Indebtedness,
(ix) are customary provisions restricting subletting or assignment of any lease governing a leasehold interest of the Company or any Restricted Subsidiary, (x) are customary provisions restricting assignment of any agreement entered into
in the ordinary course of business and (xi) are restrictions on cash or other deposits imposed by customers under contracts entered into in the ordinary course of business. 

SECTION 7.10. Use of Proceeds. Use the proceeds of any Credit Extension, whether directly or indirectly, (a) in a manner
inconsistent with the uses set forth in the preliminary statements to this Agreement, (b) in the case of any Class of Term Loans made pursuant to the First Amendment on the First Amendment Effective Date, in a manner inconsistent with the uses
set forth in the Recitals to the First Amendment, (c) in the case of any Incremental Term Loans made pursuant to the First Refinancing Amendment on the First Refinancing Amendment Effective Date, in a manner inconsistent with the uses set forth
in the recitals in the First Refinancing Amendment or (d) in the case of the Revolving Credit Commitments, for working capital and other general corporate purposes of the Company and its Subsidiaries (including acquisitions and other
Investments permitted hereunder). 

  
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 SECTION 7.11. Financial Covenants. (a) Total Leverage Ratio. Permit the
Total Leverage Ratio as of the last day of any Test Period (beginning with the Test Period ending on March 31, 2006 but excluding any Test Period ending during the Pre-IPO Period) to be greater than the ratio set forth below opposite the last
day of such Test Period: 
  

																	
	 Fiscal Year
	  	March 31	 	  	June 30	 	  	September 30	 	  	December 31	 
	 2006
	  	 	8.25:1	  	  	 	8.25:1	  	  	 	8.25:1	  	  	 	7.75:1	  
	 2007
	  	 	7.75:1	  	  	 	7.75:1	  	  	 	7.75:1	  	  	 	7.25:1	  
	 2008
	  	 	7.25:1	  	  	 	7.25:1	  	  	 	7.25:1	  	  	 	6.75:1	  
	 2009
	  	 	6.75:1	  	  	 	6.75:1	  	  	 	6.75:1	  	  	 	6.25:1	  
	 2010
	  	 	6.25:1	  	  	 	6.25:1	  	  	 	6.25:1	  	  	 	6.25:1	  
	 2011
	  	 	6.25:1	  	  	 	6.25:1	  	  	 	6.25:1	  	  	 	5.75:1	  
	 2012
	  	 	5.75:1	  	  	 	5.75:1	  	  	 	5.75:1	  	  	 	5.75:1	  
	 2013
	  	 	5.75:1	  	  	 	5.75:1	  	  	 	5.75:1	  	  	 	5.75:1	  
	 2014
	  	 	5.75:1	  	  	 	5.75:1	  	  	 	5.75:1	  	  	 	5.75:1	  
	 2015
	  	 	5.75:1	  	  	 	5.50:1	  	  	 	5.50:1	  	  	 	5.50:1	  
	 2016
	  	 	5.50:1	  	  	 	5.25:1	  	  	 	5.25:1	  	  	 	5.25:1	  
	 2017
	  	 	4.75:1	  	  	 	4.75:1	  	  	 	4.75:1	  	  	 	4.75:1	  
	 2018
	  	 	4.75:1	  	  	 	4.75:1	  	  	 	4.75:1	  	  	 	4.75:1	  
	 2019
	  	 	4.75:1	  	  	 	4.75:1	  	  	 	4.75:1	  	  	 	4.75:1	  

 (b) Interest Coverage Ratio. Permit the Interest Coverage Ratio for any Test
Period (beginning with the Test Period ending on December 31, 2005) to be less than the ratio set forth below opposite the last day of such Test Period: 
  

																	
	 Fiscal Year
	  	March 31	 	  	June 30	 	  	September 30	 	  	December 31	 
	 2005
	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	1.40:1	  
	 2006
	  	 	1.40:1	  	  	 	1.40:1	  	  	 	1.40:1	  	  	 	1.50:1	  
	 2007
	  	 	1.50:1	  	  	 	1.50:1	  	  	 	1.50:1	  	  	 	1.60:1	  
	 2008
	  	 	1.60:1	  	  	 	1.60:1	  	  	 	1.60:1	  	  	 	1.65:1	  
	 2009
	  	 	1.65:1	  	  	 	1.65:1	  	  	 	1.65:1	  	  	 	1.70:1	  
	 2010
	  	 	1.70:1	  	  	 	1.70:1	  	  	 	1.70:1	  	  	 	1.80:1	  
	 2011
	  	 	1.80:1	  	  	 	1.80:1	  	  	 	1.80:1	  	  	 	1.95:1	  
	 2012
	  	 	1.95:1	  	  	 	1.95:1	  	  	 	1.95:1	  	  	 	2.10:1	  
	 2013
	  	 	2.10:1	  	  	 	2.10:1	  	  	 	2.10:1	  	  	 	2.20:1	  
	 2014
	  	 	2.20:1	  	  	 	2.20:1	  	  	 	2.20:1	  	  	 	2.20:1	  
	 2015
	  	 	2.20:1	  	  	 	2.20:1	  	  	 	2.20:1	  	  	 	2.20:1	  
	 2016
	  	 	2.20:1	  	  	 	2.20:1	  	  	 	2.20:1	  	  	 	2.20:1	  
	 2017
	  	 	2.20:1	  	  	 	—  	  	  	 	—  	  	  	 	—  	  


  
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 (c) Post-AS Separation Secured Leverage Ratio. Permit the Total
Secured Leverage Ratio as of the date of the first Qualifying IPO completed after the AS Separation Date (calculated on a Pro Forma Basis after giving effect to the AS Separation Transactions and such Qualifying IPO and the use of proceeds in
connection therewith) to exceed the Total Secured Leverage Ratio as of the AS Separation Date prior to giving Pro Forma Effect to the AS Separation Transactions. 

(d) Pre-IPO Period Total Leverage Ratio. Permit the Total Leverage Ratio to exceed 5.75:1 at any time during the
Pre-IPO Period (it being agreed that for purposes of calculating the Total Leverage Ratio under this Section 7.11(d), Consolidated EBITDA will be calculated as of the last day of the most recent Test Period for which financial statements have
been delivered pursuant to Section 6.01(a) or (b) and Consolidated Total Debt will be calculated on a daily basis). 

SECTION 7.12. Accounting Changes. Make any change in fiscal year; provided, however, that the Company may, upon written
notice to the Administrative Agent, change its fiscal year to any other fiscal year reasonably acceptable to the Administrative Agent, in which case, the Company and the Administrative Agent will, and are hereby authorized by the Lenders to, make
any adjustments to this Agreement that are necessary to reflect such change in fiscal year. 
 SECTION 7.13. Prepayments,
Etc. of Indebtedness. (a) Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner (it being understood that payments of regularly scheduled interest shall be permitted) the Senior
Subordinated Notes, any subordinated Indebtedness incurred under Section 7.03(h) or any other Indebtedness that is required to be subordinated to the Obligations pursuant to the terms of the Loan Documents (collectively, “Junior
Financing”) or make any payment in violation of any subordination terms of any Junior Financing Documentation, except (i) the refinancing thereof with the Net Cash Proceeds of any Indebtedness (to the extent such Indebtedness
constitutes a Permitted Refinancing and, if applicable, is permitted pursuant to Section 7.03(h)), to the extent not required to prepay any Loans or Facility pursuant to Section 2.05(b), or of any Indebtedness of Holdings, (ii) the
conversion of any Junior Financing to Equity Interests (other than Disqualified Equity Interests) of Holdings or any of its direct or indirect parents, (iii) the prepayment of Indebtedness of the Company or any Restricted Subsidiary to the
Company or any Restricted Subsidiary to the extent permitted by the Collateral Documents and (iv) prepayments, redemptions, purchases, defeasances and other payments in respect of Junior Financings prior to their scheduled maturity in an
aggregate amount, together with the aggregate amount of (1) Restricted Payments made pursuant to Section 7.06(i) and (2) loans and advances to Holdings made pursuant to Section 7.02(m), not to exceed the sum of
(i) $200,000,000, (ii) the amount of the Net Cash Proceeds of Permitted Equity Issuances (other than Permitted Equity Issuances made pursuant to Section 8.05) made within eighteen (18) months prior thereto that are Not Otherwise
Applied and (iii) if, as of the last day of the immediately preceding Test Period (after giving Pro Forma Effect to such prepayments, redemptions, purchases, defeasances and other payments) the Total Leverage Ratio is 5.50:1 or less, the amount
of Cumulative Excess Cash Flow that is Not Otherwise Applied. 

  
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 (b) Amend, modify or change in any manner materially adverse to the
interests of the Lenders any term or condition of any Junior Financing Documentation without the consent of the Arrangers. 

SECTION 7.14. Equity Interests of the Company and Restricted Subsidiaries. Permit any Domestic Subsidiary that is a Restricted
Subsidiary to be a non-wholly owned Subsidiary, except (i) as a result of or in connection with a dissolution, merger, consolidation or Disposition of a Restricted Subsidiary permitted by Section 7.04, 7.05 or an Investment in any Person
permitted under Section 7.02 or (ii) so long as such Restricted Subsidiary continues to be a Guarantor; 
 SECTION
7.15. Holding Company. In the case of Holdings, conduct, transact or otherwise engage in any business or operations other than those incidental to (i) its ownership of the Equity Interests of the Company, (ii) the maintenance of its
legal existence, (iii) the performance of the Loan Documents, the Merger Agreement and the other agreements contemplated by the Merger Agreement, (iv) any public offering of its common stock or any other issuance of its Equity Interests
not prohibited by Article 7 and (v) any transaction that Holdings is permitted to enter into or consummate under this Article 7. 
 SECTION 7.16. Capital Expenditures. 
 (a) Make any Capital
Expenditure except for Capital Expenditures not exceeding, in the aggregate for the Company and the Restricted Subsidiaries during each fiscal year set forth below, the amount set forth opposite such fiscal year: 

 

					
	 Fiscal Year
	  	Amount	 
	 2005
	  	$	380,000,000.00	  
	 2006
	  	$	375,000,000.00	  
	 2007
	  	$	375,000,000.00	  
	 2008
	  	$	375,000,000.00	  
	 2009
	  	$	400,000,000.00	  
	 2010
	  	$	400,000.000.00	  
	 2011
	  	$	425,000,000.00	  
	 2012
	  	$	450,000,000.00	  
	 2013
	  	$	450,000,000.00	  
	 2014
	  	$	475,000,000.00	  
	 2015
	  	$	475,000,000.00	  
	 2016
	  	$	475,000,000.00	  
	 2017
	  	$	475,000,000.00	  


  
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 ; provided that the amount of Capital Expenditures permitted to be made in respect of any fiscal year
shall be increased after the consummation of any Permitted Acquisition in an amount equal to 10% of the pro forma aggregate consolidated revenues of the Acquired Entity or Business so acquired during the fiscal year of such Acquired Entity or
Business beginning after such Permitted Acquisition (such amount, the “Acquired Annual Capital Expenditure Amount”). 
 (b) Notwithstanding anything to the contrary contained in clause (a) above, to the extent that the aggregate amount of Capital Expenditures made by the Company and the Restricted Subsidiaries in any
fiscal year pursuant to Section 7.16(a) is less than the maximum amount of Capital Expenditures permitted by Section 7.16(a) with respect to such fiscal year, the amount of such difference (the “Rollover Amount”) may be
carried forward and used to make Capital Expenditures in the two succeeding fiscal years; provided that Capital Expenditures in any fiscal year shall be counted against the base amount set forth in Section 7.16(a) with respect to such
fiscal year prior to being counted against any Rollover Amount available with respect to such fiscal year. 
 ARTICLE VIII

 Events Of Default and Remedies 
 SECTION 8.01. Events of Default. Any of the following shall constitute an Event of Default: 
 (a) Non-Payment. The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or (ii) within five (5) Business
Days after the same becomes due, any interest on any Loan or any other amount payable hereunder or with respect to any other Loan Document or (iii) when and as required to be paid herein, any amount required to be prepaid and/or Cash
Collateralized pursuant to the second sentence of Section 2.05(b)(v); or 
 (b) Specific Covenants.
The Company fails to perform or observe any term, covenant or agreement contained in any of Sections 6.03(a), 6.05(a) (solely with respect to Holdings and the Company), 6.16 or Article 7; provided that any Event of Default under
Sections 7.11(a) and (b) is subject to cure as contemplated by Section 8.05; or 
 (c) Other
Defaults. Any Loan Party fails to perform or observe any other covenant or agreement (not specified in Section 8.01(a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for
thirty (30) days after notice thereof by the Administrative Agent to the Company; or 

  
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 (d) Representations and Warranties. Any representation, warranty,
certification or statement of fact made or deemed made by or on behalf of the Company or any other Loan Party herein, in any other Loan Document, or in any document required to be delivered in connection herewith or therewith shall be incorrect or
misleading in any material respect when made or deemed made; or 
 (e) Cross-Default. Any Loan Party or
any Restricted Subsidiary (A) fails to make any payment beyond the applicable grace period with respect thereto, if any (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness
(other than Indebtedness hereunder) having an aggregate principal amount of not less than the Threshold Amount or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness, or any other event occurs
(other than, with respect to Indebtedness consisting of Swap Agreements, termination events or equivalent events pursuant to the terms of such Swap Agreements), the effect of which default or other event is to cause, or to permit the holder or
holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to become due or to be repurchased, prepaid, defeased or
redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity; provided that this clause (e)(B) shall not apply to secured Indebtedness that becomes due
as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness, if such sale or transfer is permitted hereunder and under the documents providing for such Indebtedness; or 

(f) Insolvency Proceedings, Etc. Any Loan Party or any of the Restricted Subsidiaries institutes or consents to the
institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator,
administrative receiver or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer is appointed
without the application or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of
its property is instituted without the consent of such Person and continues undismissed or unstayed for sixty (60) calendar days, or an order for relief is entered in any such proceeding; or 

(g) Inability to Pay Debts; Attachment. (i) Any Loan Party or any Restricted Subsidiary becomes unable
or admits in writing its inability or fails generally to pay its debts in excess of the Threshold Amount as they become due or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any
material part of the property of the Loan Parties, taken as a whole, and is not released, vacated or fully bonded within sixty (60) days after its issue or levy; or 

  
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 (h) Judgments. There is entered against any Loan Party or any
Restricted Subsidiary a final judgment or order for the payment of money in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer has been notified of such judgment
or order and has not denied coverage) and such judgment or order shall not have been satisfied, vacated, discharged or stayed or bonded pending an appeal for a period of sixty (60) consecutive days; or 

(i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted
or could reasonably be expected to result in liability of any Loan Party under Title IV of ERISA in an aggregate amount which could reasonably be expected to result in a Material Adverse Effect or (ii) any Loan Party or any ERISA Affiliate
fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount which could reasonably be
expected to result in a Material Adverse Effect; or 
 (j) Invalidity of Loan Documents. Any material
provision of any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder (including as a result of a transaction permitted under Section 7.04 or 7.05) or as a
result of acts or omissions by the Administrative Agent or any Lender or the satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Loan Party contests in writing the validity or enforceability of any provision of
any Loan Document; or any Loan Party denies in writing that it has any or further liability or obligation under any Loan Document (other than as a result of repayment in full of the Obligations and termination of the Aggregate Commitments), or
purports in writing to revoke or rescind any Loan Document; or 
 (k) Change of Control. There occurs any
Change of Control; or 
 (l) Collateral Documents. (i) Any Collateral Document after delivery thereof
pursuant to Section 4.01 of the Original Agreement or 6.11 shall for any reason (other than pursuant to the terms thereof including as a result of a transaction permitted under Section 7.04 or 7.05) cease to create a valid and perfected
lien, with the priority required by the Collateral Documents, (or other security purported to be created on the applicable Collateral) on and security interest in any material portion of the Collateral purported to be covered thereby, subject to
Liens permitted under Section 7.01, except to the extent that any such loss of perfection or priority results from the failure of the Administrative Agent or the Collateral Agent to maintain possession of certificates actually delivered to it
representing securities pledged under the Collateral Documents or to file Uniform Commercial Code continuation statements and except as to Collateral consisting of real property to the extent that such losses are covered by a lender’s title
insurance policy and such insurer has not denied coverage or (ii) any of the Equity Interests of the Company ceasing to be pledged pursuant to the Security Agreement free of Liens other than Liens created by the Security Agreement or any
nonconsensual Liens arising solely by operation of Law; or 

  
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 (m) Junior Financing Documentation. (i) Any of the Obligations
of the Loan Parties under the Loan Documents for any reason shall cease to be “Senior Indebtedness” (or any comparable term) or “Senior Secured Financing” (or any comparable term) under, and as defined in any Junior Financing
Documentation or (ii) the subordination provisions set forth in any Junior Financing Documentation shall, in whole or in part, cease to be effective or cease to be legally valid, binding and enforceable against the holders of any Junior
Financing, if applicable. 
 SECTION 8.02. Remedies Upon Event of Default. If any Event of Default occurs and is
continuing, the Administrative Agent may and, at the request of the Required Lenders, shall take any or all of the following actions: 
 (a) declare the commitment of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated;

 (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and
all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower; 

(c) require that the Company Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount
thereof); and 
 (d) exercise on behalf of itself and the Lenders all rights and remedies available to it and the
Lenders under the Loan Documents or applicable Law; 
 provided that upon the occurrence of an actual or deemed entry of an order for
relief with respect to the Company under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit Extensions shall automatically terminate, the unpaid principal
amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Company to Cash Collateralize the L/C Obligations as aforesaid shall automatically become
effective, in each case without further act of the Administrative Agent or any Lender. 
 SECTION 8.03. Exclusion of
Immaterial Subsidiaries. Solely for the purpose of determining whether a Default has occurred under clause (f) or (g) of Section 8.01, any reference in any such clause to any Restricted Subsidiary or Loan Party shall be deemed not
to include any Restricted Subsidiary affected by any event or circumstances referred to in any such clause that did not, as of the last day of the most recent completed fiscal quarter of the Company, have assets with a value in excess of 5%


  
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 of the consolidated total assets of the Company and the Restricted Subsidiaries and did not, as of the four
quarter period ending on the last day of such fiscal quarter, have revenues exceeding 5% of the total revenues of the Company and the Restricted Subsidiaries (it being agreed that all Restricted Subsidiaries affected by any event or circumstance
referred to in any such clause shall be considered together, as a single consolidated Restricted Subsidiary, for purposes of determining whether the condition specified above is satisfied). 

SECTION 8.04. Application of Funds. After the exercise of remedies provided for in Section 8.02 (or after the Loans have
automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations shall be
applied by the Administrative Agent in the following order: 
 First, to payment of that portion of the
Obligations constituting fees, indemnities, expenses and other amounts (other than principal and interest, but including Attorney Costs payable under Section 10.04 and amounts payable under Article 3) payable to the Administrative Agent in its
capacity as such; 
 Second, to payment of that portion of the Obligations constituting fees,
indemnities and other amounts (other than principal and interest) payable to the Lenders (including Attorney Costs payable under Section 10.05 and amounts payable under Article 3), ratably among them in proportion to the amounts described in
this clause Second payable to them; 
 Third, to payment of that portion of the Obligations
constituting accrued and unpaid interest on the Loans and L/C Borrowings, ratably among the Lenders in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C
Borrowings, the termination value under Secured Hedge Obligations and the Cash Management Obligations, ratably among the Lenders in proportion to the respective amounts described in this clause Fourth held by them; 

Fifth, to the Administrative Agent for the account of the L/C Issuers, to Cash Collateralize that portion of L/C
Obligations comprised of the aggregate undrawn amount of Letters of Credit; 
 Sixth, to the payment of
all other Obligations of the Loan Parties that are due and payable to the Administrative Agent and the other Secured Parties on such date, ratably based upon the respective aggregate amounts of all such Obligations owing to the Administrative Agent
and the other Secured Parties on such date; and 

  
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 Last, the balance, if any, after all of the Obligations have been
indefeasibly paid in full, to the Company or as otherwise required by Law. 
 Subject to Section 2.03(c), amounts used to Cash
Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all
Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above and, if no Obligations remain outstanding, to the Company. 

Notwithstanding anything to the contrary in this Agreement, amounts received from any Foreign Subsidiary on account of the Obligations of
any Foreign Subsidiary shall be applied solely to the payment of Obligations of Foreign Subsidiaries. 
 SECTION 8.05.
Company’s Right to Cure. (a) Notwithstanding anything to the contrary contained in Section 8.01, in the event of any Event of Default under any covenant set forth in Sections 7.11(a) or (b) and until the
expiration of the tenth (10th) day after the date on which financial statements are required to be delivered with respect to the applicable fiscal quarter hereunder, Holdings or the Company may engage in a Permitted Equity Issuance to any of
the Equity Investors and apply the amount of the Net Cash Proceeds thereof to increase Consolidated EBITDA with respect to such applicable quarter; provided that such Net Cash Proceeds (i) are actually received by the Company (including
through capital contribution of such Net Cash Proceeds by Holdings to the Company) no later than ten (10) days after the date on which financial statements are required to be delivered with respect to such fiscal quarter hereunder,
(ii) are Not Otherwise Applied and (iii) do not exceed the aggregate amount necessary to cure such Event of Default under Section 7.11(a) or (b) for any applicable period. The parties hereby acknowledge that this
Section 8.05(a) may not be relied on for purposes of calculating any financial ratios other than as applicable to Sections 7.11 (a) and (b) and shall not result in any adjustment to any amounts other than the amount of the
Consolidated EBITDA referred to in the immediately preceding sentence. 
 (b) In each period of four fiscal
quarters, there shall be at least two (2) consecutive fiscal quarters in which no cure set forth in Section 8.05(a) is made. 
 ARTICLE IX 
 Administrative Agent and Other Agents 

SECTION 9.01. Appointment and Authorization of Agents. (a) Each Lender hereby irrevocably appoints, designates and authorizes
the Administrative Agent to take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or any
other Loan Document, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere herein or in any other Loan Document, the Administrative 

  
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 Agent shall have no duties or responsibilities, except those expressly set forth herein, nor shall the
Administrative Agent have or be deemed to have any fiduciary relationship with any Lender or participant, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan
Document or otherwise exist against the Administrative Agent. Without limiting the generality of the foregoing sentence, the use of the term “agent” herein and in the other Loan Documents with reference to any Agent is not intended to
connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative
relationship between independent contracting parties. 
 (b) Each L/C Issuer shall act on behalf of the Lenders
with respect to any Letters of Credit issued by it and the documents associated therewith, and each such L/C Issuer shall have all of the benefits and immunities (i) provided to the Agents in this Article 9 with respect to any acts taken or
omissions suffered by such L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and the applications and agreements for letters of credit pertaining to such Letters of Credit as fully as if the term
“Agent” as used in this Article 9 and in the definition of “Agent-Related Person” included such L/C Issuer with respect to such acts or omissions and (ii) as additionally provided herein with respect to such L/C Issuer.

 (c) The Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and
each of the Lenders (in its capacities as a Lender, Swing Line Lender (if applicable), L/C Issuer (if applicable) and a potential Hedge Bank) hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of (and to hold any
security interest created by the Collateral Documents for and on behalf of or on trust for) such Lender for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Secured
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 9.02 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies thereunder at the direction
of the Administrative Agent), shall be entitled to the benefits of all provisions of this Article 9 (including, Section 9.07, as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under the Loan
Documents) as if set forth in full herein with respect thereto. 
 SECTION 9.02. Delegation of Duties. The Administrative
Agent may execute any of its duties under this Agreement or any other Loan Document (including for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents or of exercising any
rights and remedies thereunder) by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to 

  
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such duties. The Administrative Agent shall not be responsible for the negligence or misconduct of any agent or sub-agent or attorney-in-fact that it selects in the absence of gross negligence or
willful misconduct (as determined in the final judgment of a court of competent jurisdiction). 
 SECTION 9.03. Liability of
Agents. No Agent-Related Person shall (a) be liable for any action taken or omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby (except for its own
gross negligence or willful misconduct, as determined by the final judgment of a court of competent jurisdiction, in connection with its duties expressly set forth herein) or (b) be responsible in any manner to any Lender or participant for any
recital, statement, representation or warranty made by any Loan Party or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by
the Administrative Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or the perfection or priority
of any Lien or security interest created or purported to be created under the Collateral Documents, or for any failure of any Loan Party or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Agent-Related
Person shall be under any obligation to any Lender or participant to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the
properties, books or records of any Loan Party or any Affiliate thereof. 
 SECTION 9.04. Reliance by Agents. Each
Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, communication, signature, resolution, representation, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message,
electronic mail message, statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons, and upon advice and statements of legal counsel (including counsel
to any Loan Party), independent accountants and other experts selected by such Agent. Each Agent shall be fully justified in failing or refusing to take any action under any Loan Document unless it shall first receive such advice or concurrence of
the Required Lenders as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any
such action. Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Required Lenders (or such greater number of Lenders
as may be expressly required hereby in any instance) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders. 
 SECTION 9.05. Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default, except with respect to defaults in the payment of
principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent 

  
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shall have received written notice from a Lender or the Company referring to this Agreement, describing such Default and stating that such notice is a “notice of default.” The
Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to any Event of Default as may be directed by the Required Lenders in accordance with Article 8;
provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default
as it shall deem advisable or in the best interest of the Lenders. 
 SECTION 9.06. Credit Decision; Disclosure of
Information by Agents. Each Lender acknowledges that no Agent-Related Person has made any representation or warranty to it, and that no act by any Agent hereafter taken, including any consent to and acceptance of any assignment or review of the
affairs of any Loan Party or any Affiliate thereof, shall be deemed to constitute any representation or warranty by any Agent-Related Person to any Lender as to any matter, including whether Agent-Related Persons have disclosed material information
in their possession. Each Lender represents to each Agent that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of and
investigation into the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties and their respective Subsidiaries, and all applicable bank or other regulatory Laws relating to the transactions
contemplated hereby, and made its own decision to enter into this Agreement and to extend credit to the Company and the other Loan Parties hereunder. Each Lender also represents that it will, independently and without reliance upon any Agent-Related
Person and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to
make such investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of the Company and the other Loan Parties. Except for notices, reports and other
documents expressly required to be furnished to the Lenders by any Agent herein, such Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations,
property, financial and other condition or creditworthiness of any of the Loan Parties or any of their respective Affiliates which may come into the possession of any Agent-Related Person. 

SECTION 9.07. Indemnification of Agents. Whether or not the transactions contemplated hereby are consummated, the Lenders shall
indemnify upon demand each Agent-Related Person (to the extent not reimbursed by or on behalf of any Loan Party and without limiting the obligation of any Loan Party to do so), pro rata, and hold harmless each Agent-Related Person from and against
any and all Indemnified Liabilities incurred by it; provided that no Lender shall be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities resulting from such Agent-Related Person’s own gross
negligence or willful misconduct, as determined by the final judgment of a court of competent jurisdiction; provided further that no action taken in accordance with the directions of the Required Lenders (or such other number or


  
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percentage of the Lenders as shall be required by the Loan Documents) shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section 9.07. In the case of
any investigation, litigation or proceeding giving rise to any Indemnified Liabilities, this Section 9.07 applies whether any such investigation, litigation or proceeding is brought by any Lender or any other Person. Without limitation of the
foregoing, each Lender shall reimburse the Administrative Agent upon demand for its ratable share of any costs or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the preparation, execution,
delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, any other Loan Document, or any
document contemplated by or referred to herein, to the extent that the Administrative Agent is not reimbursed for such expenses by or on behalf of the Company. The undertaking in this Section 9.07 shall survive termination of the Aggregate
Commitments, the payment of all other Obligations and the resignation of the Administrative Agent. 
 SECTION 9.08. Agents in
their Individual Capacities. JPMorgan Chase Bank and its Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire Equity Interests in and generally engage in any kind of banking, trust, financial
advisory, underwriting or other business with each of the Loan Parties and their respective Affiliates as though JPMorgan Chase Bank were not the Administrative Agent or an L/C Issuer hereunder and without notice to or consent of the Lenders. The
Lenders acknowledge that, pursuant to such activities, JPMorgan Chase Bank or its Affiliates may receive information regarding any Loan Party or its Affiliates (including information that may be subject to confidentiality obligations in favor of
such Loan Party or such Affiliate) and acknowledge that the Administrative Agent shall be under no obligation to provide such information to them. With respect to its Loans, JPMorgan Chase Bank shall have the same rights and powers under this
Agreement as any other Lender and may exercise such rights and powers as though it were not the Administrative Agent or an L/C Issuer, and the terms “Lender” and “Lenders” include JPMorgan Chase Bank in its individual capacity.

 SECTION 9.09. Successor Agents. The Administrative Agent may resign as the Administrative Agent upon thirty
(30) days’ notice to the Lenders and the Company. If the Administrative Agent resigns under this Agreement, the Required Lenders shall appoint from among the Lenders a successor agent for the Lenders, which successor agent shall be
consented to by the Company at all times other than during the existence of an Event of Default under Section 8.01(f) or (g) (which consent of the Company shall not be unreasonably withheld or delayed). If no successor agent is appointed
prior to the effective date of the resignation of the Administrative Agent, the Administrative Agent may appoint, after consulting with the Lenders and the Company, a successor agent from among the Lenders. Upon the acceptance of its appointment as
successor agent hereunder, the Person acting as such successor agent shall succeed to all the rights, powers and duties of the retiring Administrative Agent and the term “Administrative Agent,” shall mean such successor administrative
agent and/or supplemental administrative agent, as the case may be, and the retiring Administrative Agent’s appointment, powers and duties as the Administrative Agent shall be terminated.


  
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After the retiring Administrative Agent’s resignation hereunder as the Administrative Agent, the provisions of this Article 9 and Sections 10.04 and 10.05 shall inure to its benefit as to
any actions taken or omitted to be taken by it while it was the Administrative Agent under this Agreement. If no successor agent has accepted appointment as the Administrative Agent by the date which is thirty (30) days following the retiring
Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective and the Lenders shall perform all of the duties of the Administrative Agent hereunder until such
time, if any, as the Required Lenders appoint a successor agent as provided for above. Upon the acceptance of any appointment as the Administrative Agent hereunder by a successor and upon the execution and filing or recording of such financing
statements, or amendments thereto, and such amendments or supplements to the Mortgages, and such other instruments or notices, as may be necessary or desirable, or as the Required Lenders may request, in order to (a) continue the perfection of
the Liens granted or purported to be granted by the Collateral Documents or (b) otherwise ensure that the Collateral and Guarantee Requirement is satisfied, the Administrative Agent shall thereupon succeed to and become vested with all the
rights, powers, discretion, privileges, and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations under the Loan Documents. After the retiring Administrative
Agent’s resignation hereunder as the Administrative Agent, the provisions of this Article 9 shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as the
Administrative Agent. 
 SECTION 9.10. Administrative Agent May File Proofs of Claim. In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan 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 the Borrower) shall be entitled and empowered, by intervention in such
proceeding or otherwise: 
 (a) to file and prove a claim for the whole amount of the principal and interest
owing and unpaid in respect of the Loans, 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 and the Administrative Agent
(including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under
Sections 2.03(h) and (i), 2.09 and 10.04) allowed in such judicial proceeding; and 
 (b) to collect and receive
any monies or other property payable or deliverable on any such claims and to distribute the same; 

  
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 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any
such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Agents and their respective agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09 and 10.04.

 Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt
on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such
proceeding. 
 SECTION 9.11. Collateral and Guaranty Matters. The Lenders irrevocably agree that: 

(a) any Lien on any property granted to or held by the Administrative Agent or the Collateral Agent under any Loan
Document shall be automatically released (i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management
Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) and the expiration or termination of all Letters of Credit, (ii) at the time the property subject to such Lien is transferred
or to be transferred as part of or in connection with any transfer permitted hereunder or under any other Loan Document to any Person other than Holdings, the Company or any of its Domestic Subsidiaries that are Restricted Subsidiaries,
(iii) subject to Section 10.01, if the release of such Lien is approved, authorized or ratified in writing by the Required Lenders or (iv) if the property subject to such Lien is owned by a Guarantor, upon release of such Guarantor
from its obligations under its Guaranty pursuant to clause (c) below; 
 (b) to release or subordinate any
Lien on any property granted to or held by the Administrative Agent or the Collateral Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 7.01(i); 

(c) any Guarantor shall be automatically released from its obligations under the Guaranty if such Person ceases to be a
Restricted Subsidiary as a result of a transaction or designation permitted hereunder; provided that no such release shall occur if such Guarantor continues to be a guarantor in respect of the Existing Notes, the New Notes or any Junior
Financing; and 
 (d) on the AS Separation Date and upon the consummation of the AS Separation Transactions and
the satisfaction of the AS Separation Conditions, (i) any Lien on any property of AS Spinco or any of the AS Subsidiaries granted to or held by the Administrative Agent or the Collateral Agent under any Loan Document shall be automatically
released and (ii) AS Spinco and each of the AS Subsidiaries shall be automatically released from its obligations under the Subsidiary Guaranty. 

  
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 Upon request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this Section 9.11. In each case
as specified in this Section 9.11, the Administrative Agent will (and each Lender irrevocably authorizes the Administrative Agent to), at the Company’s expense, execute and deliver to the applicable Loan Party such documents as such Loan
Party may reasonably request to evidence the release or subordination of such item of Collateral from the assignment and security interest granted under the Collateral Documents, or to evidence the release of such Guarantor from its obligations
under the Guaranty, in each case in accordance with the terms of the Loan Documents and this Section 9.11. 
 SECTION 9.12.
Other Agents; Arrangers and Managers. None of the Lenders or other Persons identified on the facing page or signature pages of this Agreement as a “co-syndication agent”, “co-documentation agent”, “joint
bookrunner” or “arranger” shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such. Without limiting the foregoing, none of the Lenders or other
Persons so identified shall have or be deemed to have any fiduciary relationship with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any of the Lenders or other Persons so identified in deciding to enter into this
Agreement or in taking or not taking action hereunder. 
 SECTION 9.13. Appointment of Supplemental Administrative Agents.
(a) It is the purpose of this Agreement and the other Loan Documents that there shall be no violation of any Law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as agent or
trustee in such jurisdiction. It is recognized that in case of litigation under this Agreement or any of the other Loan Documents, and in particular in case of the enforcement of any of the Loan Documents, or in case the Administrative Agent deems
that by reason of any present or future Law of any jurisdiction it may not exercise any of the rights, powers or remedies granted herein or in any of the other Loan Documents or take any other action which may be desirable or necessary in connection
therewith, the Administrative Agent is hereby authorized to appoint an additional individual or institution selected by the Administrative Agent in its sole discretion as a separate trustee, co-trustee, administrative agent, collateral agent,
administrative sub-agent or administrative co-agent (any such additional individual or institution being referred to herein individually as a “Supplemental Administrative Agent” and collectively as “Supplemental
Administrative Agents”). 
 (a) In the event that the Administrative Agent appoints a Supplemental
Administrative Agent with respect to any Collateral, (i) each and every right, power, privilege or duty expressed or intended by this Agreement or any of the other Loan Documents to be exercised by or vested in or conveyed to the Administrative
Agent with respect to such Collateral shall be exercisable by and vest in such Supplemental Administrative Agent to the extent, and only to the 

  
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extent, necessary to enable such Supplemental Administrative Agent to exercise such rights, powers and privileges with respect to such Collateral and to perform such duties with respect to such
Collateral, and every covenant and obligation contained in the Loan Documents and necessary to the exercise or performance thereof by such Supplemental Administrative Agent shall run to and be enforceable by either the Administrative Agent or such
Supplemental Administrative Agent, and (ii) the provisions of this Article 9 and of Sections 10.04 and 10.05 that refer to the Administrative Agent shall inure to the benefit of such Supplemental Administrative Agent and all references therein
to the Administrative Agent shall be deemed to be references to the Administrative Agent and/or such Supplemental Administrative Agent, as the context may require. 

(b) Should any instrument in writing from the Company, Holdings or any other Loan Party be required by any Supplemental
Administrative Agent so appointed by the Administrative Agent for more fully and certainly vesting in and confirming to him or it such rights, powers, privileges and duties, the Company or Holdings, as applicable, shall, or shall cause such Loan
Party to, execute, acknowledge and deliver any and all such instruments promptly upon request by the Administrative Agent. In case any Supplemental Administrative Agent, or a successor thereto, shall die, become incapable of acting, resign or be
removed, all the rights, powers, privileges and duties of such Supplemental Administrative Agent, to the extent permitted by Law, shall vest in and be exercised by the Administrative Agent until the appointment of a new Supplemental Administrative
Agent. 
 ARTICLE X 
 Miscellaneous 
 SECTION 10.01. Amendments, Etc. Except as
otherwise set forth in this Agreement, no amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Company or any other Loan Party therefrom, shall be effective unless in writing
signed by the Required Lenders and the Company or the applicable Loan Party, as the case may be, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided that, no
such amendment, waiver or consent shall: 
 (a) extend or increase the Commitment of any Lender without the
written consent of each Lender directly affected thereby (it being understood that a waiver of any condition precedent set forth in Section 4.02 or the waiver of any Default, mandatory prepayment or mandatory reduction of the Commitments shall
not constitute an extension or increase of any Commitment of any Lender); 
 (b) postpone any date scheduled for,
or reduce the amount of, any payment of principal or interest under Section 2.07 or 2.08 without the written consent of each Lender directly affected thereby, it being understood that the 

waiver of (or amendment to the terms of) any mandatory prepayment of the Term Loans shall not constitute a postponement of any date
scheduled for the payment of principal or interest; 

  
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 (c) reduce the principal of, or the rate of interest specified herein on,
any Loan or L/C Borrowing, or (subject to clause (iii) of the second proviso to this Section 10.01) any fees (including fees set forth in Section 2.05(a)(iv)) or other amounts payable hereunder or under any other Loan Document without
the written consent of each Lender directly affected thereby, it being understood that any change to the definition of Total Leverage Ratio or in the component definitions thereof shall not constitute a reduction in the rate; provided that,
only the consent of the Required Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest at the Default Rate; 

(d) change any provision of this Section 10.01, the definition of “Required Lenders” or “Pro Rata
Share” or Section 2.06(c), 8.04 or 2.13 without the written consent of each Lender affected thereby; 

(e) other than in a transaction permitted under Section 7.05, release all or substantially all of the Collateral in
any transaction or series of related transactions, without the written consent of each Lender; or 
 (f) other
than in connection with a transaction permitted under Section 7.04 or 7.05, release all or substantially all of the aggregate value of the Guarantees, without the written consent of each Lender; 

and provided further that (i) no amendment, waiver or consent shall, unless in writing and signed by each L/C Issuer in addition to the
Lenders required above, affect the rights or duties of an L/C Issuer under this Agreement or any Letter of Credit Application relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in
writing and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the
Administrative Agent in addition to the Lenders required above, affect the rights or duties of, or any fees or other amounts payable to, the Administrative Agent under this Agreement or any other Loan Document; (iv) Section 10.07(h) may
not be amended, waived or otherwise modified without the consent of each Granting Lender all or any part of whose Loans are being funded by an SPC at the time of such amendment, waiver or other modification; and (v) the consent of Lenders
holding more than 50% of any Class of Commitments shall be required with respect to any amendment that by its terms adversely affects the rights of such Class in respect of payments hereunder in a manner different than such amendment affects other
Classes. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended
without the consent of such Lender (it being understood that any Commitments or Loans held or deemed held by any Defaulting Lender shall be excluded for a vote of the Lenders hereunder requiring any consent of the Lenders). 

  
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 Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with
the written consent of the Required Lenders, the Administrative Agent and the Company (a) to add one or more additional credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder and the
accrued interest and fees in respect thereof to share ratably in the benefits of this Agreement and the other Loan Documents with the U.S. Term Loans and the Revolving Credit Loans and the accrued interest and fees in respect thereof and (b) to
include appropriately the Lenders holding such credit facilities in any determination of the Required Lenders. 
 In addition,
notwithstanding the foregoing, this Agreement may be amended with the written consent of the Administrative Agent, the Company and the Lenders providing the relevant U.S. Replacement Term Loans (as defined below) to permit the refinancing of all
outstanding U.S. Term Loans under any Tranche (“U.S. Refinanced Term Loans”) with a replacement U.S. term loan tranche denominated in Dollars (“U.S. Replacement Term Loans”) hereunder; provided that
(a) the aggregate principal amount of such U.S. Replacement Term Loans shall not exceed the aggregate principal amount of such U.S. Refinanced Term Loans, (b) the Applicable Rate for such U.S. Replacement Term Loans shall not be higher
than the Applicable Rate for such U.S. Refinanced Term Loans, (c) the Weighted Average Life to Maturity of such U.S. Replacement Term Loans shall not be shorter than the Weighted Average Life to Maturity of such U.S. Refinanced Term Loans at
the time of such refinancing (except to the extent of nominal amortization for periods where amortization has been eliminated as a result of prepayment of the applicable Term Loans) and (d) all other terms applicable to such U.S. Replacement
Term Loans shall be substantially identical to, or less favorable to the Lenders providing such U.S. Replacement Term Loans than, those applicable to such U.S. Refinanced Term Loans, except to the extent necessary to provide for covenants and other
terms applicable to any period after the latest final maturity of the Term Loans in effect immediately prior to such refinancing. 
 Notwithstanding anything to the contrary contained in Section 10.01, guarantees, collateral security documents and related documents executed by Foreign Subsidiaries in connection with this Agreement
may be in a form reasonably determined by the Administrative Agent and may be, together with this Agreement, amended and waived with the consent of the Administrative Agent at the request of the Company without the need to obtain the consent of any
other Lender if such amendment or waiver is delivered in order (i) to comply with local Law or advice of local counsel, (ii) to cure ambiguities or defects or (iii) to cause such guarantee, collateral security document or other
document to be consistent with this Agreement and the other Loan Documents. 
 SECTION 10.02. Notices and Other
Communications; Facsimile Copies. (a) General. Unless otherwise expressly provided herein, all notices and other communications provided for hereunder or under any other Loan Document shall be in writing (including by facsimile
transmission). All such written notices shall be mailed, 

  
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 faxed or delivered to the applicable address, facsimile number or electronic mail address, and all notices
and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 
 (i) if to the Borrower, the Administrative Agent, an L/C Issuer or the Swing Line Lender, to the address, facsimile number, electronic mail address or telephone number specified for such Person on
Schedule 10.02 or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the other parties; and 

(ii) if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in
its Administrative Questionnaire or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the Company, the Administrative Agent, the L/C Issuers and the Swing Line
Lender. 
 All such notices and other communications shall be deemed to be given or made upon the earlier to occur of (i) actual receipt by
the relevant party hereto and (ii) (A) if delivered by hand or by courier, when signed for by or on behalf of the relevant party hereto; (B) if delivered by mail, four (4) Business Days after deposit in the mails, postage
prepaid; (C) if delivered by facsimile, when sent and receipt has been confirmed by telephone; and (D) if delivered by electronic mail (which form of delivery is subject to the provisions of Section 10.02(c)), when delivered;
provided that notices and other communications to the Administrative Agent, the L/C Issuers and the Swing Line Lender pursuant to Article 2 shall not be effective until actually received by such Person. In no event shall a voice mail message
be effective as a notice, communication or confirmation hereunder. 
 (b) Effectiveness of Facsimile Documents
and Signatures. Loan Documents may be transmitted and/or signed by facsimile. The effectiveness of any such documents and signatures shall, subject to applicable Law, have the same force and effect as manually signed originals and shall be
binding on all Loan Parties, the Agents and the Lenders. 
 (c) Reliance by Agents and Lenders. The
Administrative Agent and the Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices and Swing Line Loan Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were
not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower
shall indemnify each Agent-Related Person and each Lender from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower in the absence of gross negligence
or willful misconduct. All telephonic notices to the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 

  
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 SECTION 10.03. No Waiver; Cumulative Remedies. No failure by any Lender or the
Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any
right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other
Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by Law. 
 SECTION
10.04. Attorney Costs, Expenses and Taxes. The Company agrees (a) to pay or reimburse the Administrative Agent, the Syndication Agents, the Documentation Agents and the Arrangers for all reasonable out-of-pocket costs and expenses
incurred in connection with the preparation, negotiation, syndication and execution of this Agreement and the other Loan Documents, and any amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or not the
transactions contemplated thereby are consummated), and the consummation and administration of the transactions contemplated hereby and thereby, including all Attorney Costs of Cravath, Swaine & Moore LLP, and (b) to pay or reimburse
the Administrative Agent, the Syndication Agents, the Documentation Agents, the Arrangers and each Lender for all out-of-pocket costs and expenses incurred in connection with the enforcement of any rights or remedies under this Agreement or the
other Loan Documents (including all such costs and expenses incurred during any legal proceeding, including any proceeding under any Debtor Relief Law, and including all Attorney Costs of counsel to the Administrative Agent). The foregoing costs and
expenses shall include all reasonable search, filing, recording and title insurance charges and fees and taxes related thereto, and other (reasonable, in the case of Section 10.04(a)) out-of-pocket expenses incurred by any Agent. The agreements
in this Section 10.04 shall survive the termination of the Aggregate Commitments and repayment of all other Obligations. All amounts due under this Section 10.04 shall be paid within ten (10) Business Days of receipt by the Company of
an invoice relating thereto setting forth such expenses in reasonable detail. If any Loan Party fails to pay when due any costs, expenses or other amounts payable by it hereunder or under any Loan Document, such amount may be paid on behalf of such
Loan Party by the Administrative Agent in its sole discretion. 
 SECTION 10.05. Indemnification by the Company. Whether
or not the transactions contemplated hereby are consummated, the Company shall indemnify and hold harmless each Agent-Related Person, each Lender and their respective Affiliates, directors, officers, employees, counsel, agents, trustees, investment
advisors and attorneys-in-fact (collectively the “Indemnitees”) from and against any and all liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements
(including Attorney Costs) of any kind or nature whatsoever which may at any time be imposed on, incurred by or asserted against any such Indemnitee in any way relating to or arising out of or in connection with (a) the execution, delivery,
enforcement, performance or administration of any Loan Document or any other agreement, letter or instrument delivered in connection with the transactions contemplated thereby or the consummation of the transactions contemplated thereby,
(b)

  
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any Commitment, Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by an L/C Issuer to honor a demand for payment under a Letter of Credit if the
documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), or (c) any actual or alleged presence or release of Hazardous Materials on or from any property currently or formerly owned or
operated by the Company, any Subsidiary or any other Loan Party, or any Environmental Liability related in any way to the Company, any Subsidiary or any other Loan Party, or (d) any actual or prospective claim, litigation, investigation or
proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (including any investigation of, preparation for, or defense of any pending or threatened claim, investigation, litigation or proceeding) and regardless
of whether any Indemnitee is a party thereto (all the foregoing, collectively, the “Indemnified Liabilities”), in all cases, whether or not caused by or arising, in whole or in part, out of the negligence of the Indemnitee; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent that such liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses or disbursements resulted from the gross
negligence or willful misconduct of such Indemnitee or of any affiliate, director, officer, employee, counsel, agent or attorney-in-fact of such Indemnitee. No Indemnitee shall be liable for any damages arising from the use by others of any
information or other materials obtained through IntraLinks or other similar information transmission systems in connection with this Agreement, nor shall any Indemnitee or any Loan Party have any liability for any special, punitive, indirect or
consequential damages relating to this Agreement or any other Loan Document or arising out of its activities in connection herewith or therewith (whether before or after the Closing Date). In the case of an investigation, litigation or other
proceeding to which the indemnity in this Section 10.05 applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by any Loan Party, its directors, stockholders or creditors or an
Indemnitee or any other Person, whether or not any Indemnitee is otherwise a party thereto and whether or not any of the transactions contemplated hereunder or under any of the other Loan Documents is consummated. All amounts due under this
Section 10.05 shall be paid within ten (10) Business Days after demand therefor; provided, however, that such Indemnitee shall promptly refund such amount to the extent that there is a final judicial or arbitral determination that such
Indemnitee was not entitled to indemnification or contribution rights with respect to such payment pursuant to the express terms of this Section 10.05. The agreements in this Section 10.05 shall survive the resignation of the
Administrative Agent, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. 
 SECTION 10.06. Payments Set Aside. To the extent that any payment by or on behalf of the Company is made to any Agent or any Lender, or any Agent or any Lender exercises its right of setoff, and
such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by such Agent or such Lender in its
discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be
satisfied shall be revived and continued in full force and effect as if such payment had not 

  
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been made or such setoff had not occurred and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share of any amount so recovered from or repaid
by any Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Overnight Rate from time to time in effect. 

SECTION 10.07. Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted hereby, except that neither Holdings nor the Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each
Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee, (ii) by way of participation in accordance with the provisions of Section 10.07(e), (iii) by way
of pledge or assignment of a security interest subject to the restrictions of Section 10.07(g) or (iv) to an SPC in accordance with the provisions of Section 10.07(h) (and any other attempted assignment or transfer by any party hereto
shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in
Section 10.07(e) and, to the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more
assignees (“Assignees”) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans (including for purposes of this Section 10.07(b), participations in L/C
Obligations and in Swing Line Loans) at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld) of: 
 (A) the Company; provided that no consent of the Company shall be required for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default under
Section 8.01(a), (f) or (g) has occurred and is continuing, any Assignee; 
 (B) the
Administrative Agent; provided that no consent of the Administrative Agent shall be required for an assignment (i) of all or any portion of a Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund or (ii) to an Agent or
an Affiliate of an Agent; 
 (C) each Principal L/C Issuer at the time of such assignment; provided that
no consent of the Principal L/C Issuers shall be required for any assignment of a Term Loan or any assignment to an Agent or an Affiliate of an Agent; and 

  
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 (D) the Swing Line Lender; provided that no consent of the Swing Line
Lender shall be required for any assignment of a Term Loan or any assignment to an Agent or an Affiliate of an Agent. 
 (ii) Assignments shall be subject to the following additional conditions: 
 (A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans of any Class, the amount
of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000
(in the case of the Revolving Credit Facility) or $1,000,000 (in the case of a Term Loan) unless each of the Company and the Administrative Agent otherwise consents, provided that (1) no such consent of the Company shall be required if
an Event of Default under Section 8.01(a), (f) or (g) has occurred and is continuing and (2) such amounts shall be aggregated in respect of each Lender and its Affiliates or Approved Funds, if any; 

(B) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee of $3,500; and 
 (C) the Assignee, if it shall not be a Lender,
shall deliver to the Administrative Agent an Administrative Questionnaire. 
 This paragraph (b) shall not prohibit any
Lender from assigning all or a portion of its rights and obligations among separate Facilities on a non-pro rata basis. 
 (c) Subject to acceptance and recording thereof by the Administrative Agent pursuant to Section 10.07(d), from and after the effective date specified in each Assignment and Assumption, the Eligible
Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the
extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, 10.04 and 10.05 with respect to facts and circumstances occurring prior to the effective date of such
assignment). Upon request, and the surrender by the assigning Lender of its Note, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this
Agreement that does not comply with this clause (c) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 10.07(e). 

  
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 (d) The Administrative Agent, acting solely for this purpose as an agent of
the Borrower, shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal
amounts (and related interest amounts) of the Loans, L/C Obligations (specifying the Unreimbursed Amounts), L/C Borrowings and amounts due under Section 2.03, owing to, each Lender pursuant to the terms hereof from time to time (the
“Register”). The entries in the Register shall be conclusive, absent manifest error, and the Borrower, the Agents and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a
Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower, any Agent and any Lender, at any reasonable time and from time to time upon reasonable prior
notice. 
 (e) Any Lender may at any time, without the consent of, or notice to, the Borrower or the
Administrative Agent, sell participations to any Person (other than a natural person) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of
its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Agents and the other Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement
and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this Agreement or the other Loan Documents; provided that such agreement or instrument may provide that such Lender will not, without the
consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 10.01 that directly affects such Participant. Subject to Section 10.07(f), the Borrower agrees that each Participant
shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 10.07(c) but shall not be entitled to recover greater amounts under such
Sections than the selling Lender would be entitled to recover. To the extent permitted by applicable Law, each Participant also shall be entitled to the benefits of Section 10.09 as though it were a Lender; provided that such Participant
agrees to be subject to Section 2.13 as though it were a Lender. 

  
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 (f) A Participant shall not be entitled to receive any greater payment under
Section 3.01, 3.04 or 3.05 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s
prior written consent. A Participant shall not be entitled to the benefits of Section 3.01 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply
with Section 10.15 as though it were a Lender. 
 (g) Any Lender may at any time pledge or assign a security
interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no
such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(h) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant
to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower (an “SPC”) the option to provide all or any part of any Loan that such Granting
Lender would otherwise be obligated to make pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, and (ii) if an SPC elects not to exercise such option or otherwise
fails to make all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of such option
shall increase the costs or expenses or otherwise increase or change the obligations of the Borrower under this Agreement (including its obligations under Section 3.01, 3.04 or 3.05), (ii) no SPC shall be liable for any indemnity or
similar payment obligation under this Agreement for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Loan
Document, remain the lender of record hereunder. The making of a Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. Notwithstanding anything to the
contrary contained herein, any SPC may (i) with notice to, but without prior consent of the Borrower and the Administrative Agent and with the payment of a processing fee of $3,500, assign all or any portion of its right to receive payment with
respect to any Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or
liquidity enhancement to such SPC. 
 (i) Notwithstanding anything to the contrary contained herein, (1) any
Lender may in accordance with applicable Law create a security interest in all or any portion of the Loans owing to it and the Note, if any, held by it and (2) any Lender that is a Fund may create a security interest in all or any portion of
the 

  
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Loans owing to it and the Note, if any, held by it to the trustee for holders of obligations owed, or securities issued, by such Fund as security for such obligations or securities;
provided that unless and until such trustee actually becomes a Lender in compliance with the other provisions of this Section 10.07, (i) no such pledge shall release the pledging Lender from any of its obligations under the Loan
Documents and (ii) such trustee shall not be entitled to exercise any of the rights of a Lender under the Loan Documents even though such trustee may have acquired ownership rights with respect to the pledged interest through foreclosure or
otherwise. 
 (j) Notwithstanding anything to the contrary contained herein, any L/C Issuer or the Swing Line
Lender may, upon thirty (30) days’ notice to the Company and the Lenders, resign as an L/C Issuer or the Swing Line Lender, respectively; provided that on or prior to the expiration of such 30-day period with respect to such
resignation, the relevant L/C Issuer or the Swing Line Lender shall have identified a successor L/C Issuer or Swing Line Lender reasonably acceptable to the Company willing to accept its appointment as successor L/C Issuer or Swing Line Lender, as
applicable. In the event of any such resignation of an L/C Issuer or the Swing Line Lender, the Company shall be entitled to appoint from among the Lenders willing to accept such appointment a successor L/C Issuer or Swing Line Lender hereunder;
provided that no failure by the Company to appoint any such successor shall affect the resignation of the relevant L/C Issuer or the Swing Line Lender, as the case may be, except as expressly provided above. If an L/C Issuer resigns as an L/C
Issuer, it shall retain all the rights and obligations of an L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as an L/C Issuer and all L/C Obligations with respect thereto (including
the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). If the Swing Line Lender resigns as Swing Line Lender, it shall retain all the rights of the Swing Line
Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding
Swing Line Loans pursuant to Section 2.04(c). 
 SECTION 10.08. Confidentiality. Each of the Agents and the Lenders
agrees to maintain the confidentiality of the Information, except that Information may be disclosed (a) to its Affiliates and its and its Affiliates’ directors, officers, employees, trustees, investment advisors and agents, including
accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential); (b) to
the extent requested by any Governmental Authority; (c) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process; (d) to any other party to this Agreement; (e) subject to an agreement
containing provisions substantially the same as those of this Section 10.08 (or as may otherwise be reasonably acceptable to the Company), to any pledgee referred to in Section 10.07(g), counterparty to a Swap Contract, Eligible Assignee
of or Participant in, 

  
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or any prospective Eligible Assignee of or Participant in, any of its rights or obligations under this Agreement; (f) with the written consent of the Company; (g) to the extent such
Information becomes publicly available other than as a result of a breach of this Section 10.08; (h) to any Governmental Authority or examiner (including the National Association of Insurance Commissioners or any other similar
organization) regulating any Lender; or (i) to any rating agency when required by it (it being understood that, prior to any such disclosure, such rating agency shall undertake to preserve the confidentiality of any Information relating to the
Loan Parties received by it from such Lender). In addition, the Agents and the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service providers to the lending industry,
and service providers to the Agents and the Lenders in connection with the administration and management of this Agreement, the other Loan Documents, the Commitments, and the Credit Extensions. For the purposes of this Section 10.08,
“Information” means all information received from any Loan Party relating to any Loan Party or its business, other than any such information that is publicly available to any Agent or any Lender prior to disclosure by any Loan Party
other than as a result of a breach of this Section 10.08; provided that, in the case of information received from a Loan Party after the Fourth Amendment Effective Date, such information is clearly identified at the time of delivery as
confidential or (ii) is delivered pursuant to Section 6.01, 6.02 or 6.03 hereof. 
 SECTION 10.09. Setoff. In
addition to any rights and remedies of the Lenders provided by Law, upon the occurrence and during the continuance of any Event of Default, each Lender and its Affiliates is authorized at any time and from time to time, without prior notice to the
Company or any other Loan Party, any such notice being waived by the Company (on its own behalf and on behalf of each Loan Party and its Subsidiaries) to the fullest extent permitted by applicable Law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final) at any time held by, and other Indebtedness at any time owing by, such Lender and its Affiliates to or for the credit or the account of the respective Loan Parties and their Subsidiaries
against any and all Obligations owing to such Lender and its Affiliates hereunder or under any other Loan Document, now or hereafter existing, irrespective of whether or not such Agent or such Lender or Affiliate shall have made demand under this
Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or Indebtedness; provided that, in the case of any such deposits or
other Indebtedness for the credit or the account of any Foreign Subsidiary, such set off may only be against any Obligations of Foreign Subsidiaries. Each Lender agrees promptly to notify the Company and the Administrative Agent after any such set
off and application made by such Lender; provided, that the failure to give such notice shall not affect the validity of such setoff and application. The rights of the Administrative Agent and each Lender under this Section 10.09 are in
addition to other rights and remedies (including other rights of setoff) that the Administrative Agent and such Lender may have. Notwithstanding anything herein or in any other Loan Document to the contrary, in no event shall the assets of any
Foreign Subsidiary that is not a Loan Party constitute collateral security for payment of the Obligations of the Company or any Domestic Subsidiary, it being understood that (a) the Equity Interests of any Foreign Subsidiary that is not a Loan
Party do not constitute such an asset and (b) the provisions hereof shall not limit, reduce or otherwise diminish in any respect the Borrower’s obligation to make any mandatory prepayment pursuant to Section 2.05(b)(ii). 

  
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 SECTION 10.10. Interest Rate Limitation. Notwithstanding anything to the contrary
contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If any Agent or any Lender
shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted
for, charged, or received by an Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest,
(b) exclude voluntary prepayments and the effects thereof and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.

 SECTION 10.11. Counterparts. This Agreement and each other Loan Document may be executed in one or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier of an executed counterpart of a signature page to this Agreement and each other Loan Document shall be
effective as delivery of an original executed counterpart of this Agreement and such other Loan Document. The Agents may also require that any such documents and signatures delivered by telecopier be confirmed by a manually signed original thereof;
provided that the failure to request or deliver the same shall not limit the effectiveness of any document or signature delivered by telecopier. 
 SECTION 10.12. Integration. This Agreement, together with the other Loan Documents, comprises the complete and integrated agreement of the parties on the subject matter hereof and thereof and
supersedes all prior agreements, written or oral, on such subject matter. In the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the provisions of this Agreement shall control; provided
that the inclusion of supplemental rights or remedies in favor of the Agents or the Lenders in any other Loan Document shall not be deemed a conflict with this Agreement. Each Loan Document was drafted with the joint participation of the
respective parties thereto and shall be construed neither against nor in favor of any party, but rather in accordance with the fair meaning thereof. 
 SECTION 10.13. Survival of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or
in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by each Agent and each Lender, regardless of any investigation made by any Agent or
any Lender or on their behalf and notwithstanding that any Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other
Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 

  
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 SECTION 10.14. Severability. If any provision of this Agreement or the other Loan
Documents is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby. The invalidity of a provision
in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 SECTION
10.15. Tax Forms. (a) (i) Each Lender and Agent that is not a “United States person” within the meaning of Section 7701(a)(30) of the Code (each, a “Foreign Lender”) shall deliver to the Company and
the Administrative Agent, on or prior to the date which is ten (10) Business Days after the Fourth Amendment Effective Date (or upon accepting an assignment of an interest herein), two duly signed, properly completed copies of either IRS Form
W-8BEN or any successor thereto (relating to such Foreign Lender and entitling it to an exemption from, or reduction of, United States withholding tax on all payments to be made to such Foreign Lender by the Company or any other Loan Party pursuant
to this Agreement or any other Loan Document) or IRS Form W-8ECI or any successor thereto (relating to all payments to be made to such Foreign Lender by the Company or any other Loan Party pursuant to this Agreement or any other Loan Document) or
such other evidence reasonably satisfactory to the Company and the Administrative Agent that such Foreign Lender is entitled to an exemption from, or reduction of, United States withholding tax, including any exemption pursuant to
Section 871(h) or 881(c) of the Code, and in the case of a Foreign Lender claiming such an exemption under Section 881(c) of the Code, a certificate that establishes in writing to the Company and the Administrative Agent that such Foreign
Lender is not (i) a “bank” as defined in Section 881(c)(3)(A) of the Code, (ii) a 10-percent stockholder within the meaning of Section 871(h)(3)(B) of the Code, or (iii) a controlled foreign corporation related to
the Company with the meaning of Section 864(d) of the Code. Thereafter and from time to time, each such Foreign Lender shall (A) promptly submit to the Company and the Administrative Agent such additional duly completed and signed copies
of one or more of such forms or certificates (or such successor forms or certificates as shall be adopted from time to time by the relevant United States taxing authorities) as may then be available under then current United States Laws and
regulations to avoid, or such evidence as is reasonably satisfactory to the Company and the Administrative Agent of any available exemption from, or reduction of, United States withholding taxes in respect of all payments to be made to such Foreign
Lender by the Company or other Loan Party pursuant to this Agreement, or any other Loan Document, in each case, (1) on or before the date that any such form, certificate or other evidence expires or becomes obsolete, (2) after the
occurrence of any event requiring a change in the most recent form, certificate or evidence previously delivered by it to the Company and the Administrative Agent and (3) from time to time thereafter if reasonably requested by the Company or
the Administrative Agent, and (B) promptly notify the Company and the Administrative Agent of any change in circumstances which would modify or render invalid any claimed exemption or reduction. 

  
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 (ii) Each Foreign Lender, to the extent it does not act or ceases to act for
its own account with respect to any portion of any sums paid or payable to such Foreign Lender under any of the Loan Documents (for example, in the case of a typical participation by such Foreign Lender), shall deliver to the Company and the
Administrative Agent on the date when such Foreign Lender ceases to act for its own account with respect to any portion of any such sums paid or payable, and at such other times as may be necessary in the determination of the Company or the
Administrative Agent (in either case, in the reasonable exercise of its discretion), (A) two duly signed completed copies of the forms or statements required to be provided by such Foreign Lender as set forth above, to establish the portion of
any such sums paid or payable with respect to which such Foreign Lender acts for its own account that is not subject to United States withholding tax, and (B) two duly signed completed copies of IRS Form W-8IMY (or any successor thereto),
together with any information such Foreign Lender chooses to transmit with such form, and any other certificate or statement of exemption required under the Code, to establish that such Foreign Lender is not acting for its own account with respect
to a portion of any such sums payable to such Foreign Lender. 
 (iii) The Company shall not be required to pay
any additional amount or any indemnity payment under Section 3.01 to (A) any Foreign Lender if such Foreign Lender shall have failed to satisfy the foregoing provisions of this Section 10.15(a), or (B) any U.S. Lender if such
U.S. Lender shall have failed to satisfy the provisions of Section 10.15(b); provided that (i) if such Lender shall have satisfied the requirement of this or Section 10.15(b), as applicable, on the date such Lender became a
Lender or ceased to act for its own account with respect to any payment under any of the Loan Documents, nothing in this Section 10.15(a) or Section 10.15(b) shall relieve the Borrower of its obligation to pay any amounts pursuant to
Section 3.01 in the event that, as a result of any change in any applicable Law, treaty or governmental rule, regulation or order, or any change in the interpretation, administration or application thereof, such Lender is no longer properly
entitled to deliver forms, certificates or other evidence at a subsequent date establishing the fact that such Lender or other Person for the account of which such Lender receives any sums payable under any of the Loan Documents is not subject to
withholding or is subject to withholding at a reduced rate and (ii) nothing in this Section 10.15(a) shall relieve the Borrower of its obligation to pay any amounts pursuant to Section 3.01 in the event that the requirements of
10.15(a)(ii) have not been satisfied if the Borrower is entitled, under applicable Law, to rely on any applicable forms and statements required to be provided under this Section 10.15 by the Foreign Lender that does not act or has ceased to act
for its own account under any of the Loan Documents, including in the case of a typical participation. 
 (iv)
The Administrative Agent may deduct and withhold any taxes required by any Laws to be deducted and withheld from any payment under any of the Loan Documents. 

  
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 (b) Each Lender and Agent that is a “United States person” within
the meaning of Section 7701(a)(30) of the Code (each, a “U.S. Lender”) shall deliver to the Administrative Agent and the Company two duly signed, properly completed copies of IRS Form W-9 on or prior to the Closing Date (or on
or prior to the date it becomes a party to this Agreement), certifying that such U.S. Lender is entitled to an exemption from United States backup withholding tax, or any successor form. If such U.S. Lender fails to deliver such forms, then the
Administrative Agent may withhold from any payment to such U.S. Lender an amount equivalent to the applicable backup withholding tax imposed by the Code. 
 SECTION 10.16. GOVERNING LAW. (a) THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b) ANY LEGAL ACTION OR PROCEEDING ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL
TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW
YORK CITY OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, THE BORROWER, HOLDINGS, EACH AGENT AND EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE
JURISDICTION OF THOSE COURTS. THE BORROWER, HOLDINGS, EACH AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER
HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO. 
 SECTION 10.17. WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY
LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING,
AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN
ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 10.17 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

  
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 SECTION 10.18. Binding Effect. This Agreement shall become effective when it shall
have been executed by the Borrower and Holdings and the Administrative Agent shall have been notified by each Lender, Swing Line Lender and L/C Issuer that each such Lender, Swing Line Lender and L/C Issuer has executed it and thereafter shall be
binding upon and inure to the benefit of the Borrower, each Agent and each Lender and their respective successors and assigns, except that the Borrower shall not have the right to assign its rights hereunder or any interest herein without the prior
written consent of the Lenders except as permitted by Section 7.04. 
 SECTION 10.19. Judgment Currency. If, for the
purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking
procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect of any such sum due from it to the
Administrative Agent or the Lenders hereunder or under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the
applicable provisions of this Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent of any sum adjudged to be so due in the Judgment Currency,
the Administrative Agent may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative
Agent from the Borrower in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or the Person to whom such obligation was owing against such loss. If the
amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent in such currency, the Administrative Agent agrees to return the amount of any excess to the Borrower (or to any other Person who may be
entitled thereto under applicable Law). 
 SECTION 10.20. 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 or the Secured Hedge Agreements (including the exercise of any right of setoff, rights
on account of any banker’s lien or similar claim or other rights of self-help), or institute any actions or proceedings, or otherwise commence any remedial procedures, with respect to any Collateral or any other property of any such Loan Party,
without the prior written consent of the Administrative Agent. The provision of this Section 10.20 are for the sole benefit of the Lenders and shall not afford any right to, or constitute a defense available to, any Loan Party. 

  
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 SECTION 10.21. USA PATRIOT Act. Each Lender hereby notifies the Borrower that
pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies the Borrower, which
information includes the name and address of the Borrower and other information that will allow such Lender to identify the Borrower in accordance with the Act. 
 SECTION 10.22. Agent for Service of Process. The Company agrees that promptly following request by the Administrative Agent it shall cause each Foreign Subsidiary which is a Loan Party or for whose
account a Letter of Credit is issued to appoint and maintain an agent reasonably satisfactory to the Administrative Agent to receive service of process in New York City on behalf of such Foreign Subsidiary. 

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