Exhibit 10.1


 


Execution Copy 


 





 






 


CREDIT AGREEMENT


 


Dated as of November 1, 2022


 


among


 


DOCGO INC.,


as the Borrower,


 


 


THE SUBSIDIARIES OF THE BORROWER PARTY HERETO,


as the Guarantors,


 


CITIBANK, N.A.,


as Administrative Agent, Swingline Lender and


L/C Issuer,


 


 


BANK OF THE WEST,


as Documentation Agent,


 


and


 


THE LENDERS PARTY HERETO


 


 


************************************************


 


 


CITIBANK, N.A.,


as Sole Lead Arranger and Sole Bookrunner


 





 









 






    


     


    

 


TABLE OF CONTENTS


 




	 	Page
	Article I DEFINITIONS AND ACCOUNTING TERMS	1
	 	1.01 	Defined Terms	1
	 	1.02 	Other Interpretive Provisions	33
	 	1.03 	Accounting Terms	34
	 	1.04 	Rounding	35
	 	1.05 	Times of Day	35
	 	1.06 	Letter of Credit Amounts	35
	 	1.07 	Interest Rates	35
	 	1.08 	UCC Terms	36
	 	 	 	 
	Article II COMMITMENTS AND CREDIT EXTENSIONS	36
	 	2.01 	Loans	36
	 	2.02 	Borrowings, Conversions and Continuations of Loans	36
	 	2.03 	Letters of Credit	38
	 	2.04 	Swingline Loans	46
	 	2.05 	Prepayments	48
	 	2.06 	Termination or Reduction of Commitments	50
	 	2.07 	Repayment of Loans	50
	 	2.08 	Interest and Default Rate	50
	 	2.09	 Fees	51
	 	2.10 	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate	51
	 	2.11 	Evidence of Debt	52
	 	2.12 	Payments Generally; Administrative Agent’s Clawback	53
	 	2.13 	Sharing of Payments by Lenders	55
	 	2.14 	Cash Collateral	55
	 	2.15 	Defaulting Lenders	56
	 	2.16 	Increase in Revolving Facility	59
	 	 	 	 
	Article III TAXES, YIELD PROTECTION AND ILLEGALITY	60
	 	3.01 	Taxes	60
	 	3.02 	Illegality	64
	 	3.03 	Inability to Determine Rates	64
	 	3.04 	Increased Costs	66
	 	3.05 	Compensation for Losses	68
	 	3.06 	Mitigation Obligations; Replacement of Lenders	68
	 	3.07 	Survival	69
	 	 	 	 
	Article IV CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	68
	 	4.01 	Conditions of Initial Credit Extension	69
	 	4.02 	Conditions to all Credit Extensions	71
	 	 	 	 
	Article V REPRESENTATIONS AND WARRANTIES	72
	 	5.01 	Existence, Qualification and Power	72
	 	5.02 	Authorization; No Contravention	72
	 	5.03 	Governmental Authorization; Other Consents	72
	 	5.04 	Binding Effect	73
	 	5.05 	Financial Statements; No Material Adverse Effect	73
	 	5.06 	Litigation	74



 






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	 	5.07 	No Default	74
	 	5.08	 Ownership of Property	74
	 	5.09 	Environmental Matters	74
	 	5.10	 Insurance	74
	 	5.11 	Taxes	75
	 	5.12 	ERISA Compliance	75
	 	5.13 	Margin Regulations; Investment Company Act	76
	 	5.14	 Disclosure	76
	 	5.15 	Compliance with Laws	76
	 	5.16 	Solvency	76
	 	5.17 	Sanctions Concerns and Anti-Corruption Laws	77
	 	5.18	 Responsible Officers	77
	 	5.19 	Subsidiaries; Equity Interests; Loan Parties	77
	 	5.20 	Collateral Representations	78
	 	5.21 	EEA Financial Institutions	79
	 	5.22 	Covered Entities	79
	 	5.23 	Beneficial Ownership Certification	79
	 	5.24 	Intellectual Property; Licenses; Etc	80
	 	5.25 	Labor Matters.	80
	 	 	 	 
	Article VI AFFIRMATIVE COVENANTS	80
	 	6.01 	Financial Statements	80
	 	6.02 	Certificates; Other Information	81
	 	6.03	 Notices	84
	 	6.04 	Payment of Obligations	84
	 	6.05 	Preservation of Existence, Etc	84
	 	6.06 	Maintenance of Properties	85
	 	6.07 	Maintenance of Insurance	85
	 	6.08 	Compliance with Laws	85
	 	6.09 	Books and Records	86
	 	6.10 	Inspection Rights	86
	 	6.11 	Use of Proceeds	86
	 	6.12 	Material Contracts	87
	 	6.13 	Covenant to Guarantee Obligations	87
	 	6.14	 Covenant to Give Security	87
	 	6.15 	Compliance with Environmental Laws	88
	 	6.16 	Anti-Corruption Laws; Sanctions	88
	 	6.17 	Further Assurances	89
	 	6.18 	Post-Closing Matters	89
	 	 	 	 
	Article VII NEGATIVE COVENANTS	89
	 	7.01 	Liens	89
	 	7.02 	Indebtedness	91
	 	7.03 	Investments	92
	 	7.04 	Fundamental Changes	92
	 	7.05 	Dispositions	93
	 	7.06 	Restricted Payments	93
	 	7.07 	Change in Nature of Business	94
	 	7.08 	Transactions with Affiliates	94
	 	7.09 	Burdensome Agreements	95
	 	7.10 	Use of Proceeds	95


 






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	 	7.11 	Financial Covenants	95
	 	7.12 	Amendments of Organization Documents; Fiscal Year; Legal Name, State of Formation; Form of Entity and
Accounting Changes	95
	 	7.13 	Sale and Leaseback Transactions	95
	 	7.14 	Prepayments, Etc. of Indebtedness	96
	 	7.15 	Amendment, Etc. of Indebtedness	96
	 	7.16 	Sanctions	96
	 	7.17 	Anti-Corruption Laws	96
	 	 	 	 
	Article VIII EVENTS OF DEFAULT AND REMEDIES	96
	 	8.01 	Events of Default	96
	 	8.02 	Remedies upon Event of Default	99
	 	8.03 	Application of Funds	99
	 	 	 	 
	Article IX ADMINISTRATIVE AGENT	100
	 	9.01	 Appointment and Authority	100
	 	9.02 	Rights as a Lender	101
	 	9.03 	Exculpatory Provisions	101
	 	9.04 	Reliance by Administrative Agent	102
	 	9.05 	Delegation of Duties	103
	 	9.06 	Resignation of Administrative Agent	103
	 	9.07 	Non-Reliance on Administrative Agent, the Arranger and the Other Lenders	104
	 	9.08 	No Other Duties, Etc	105
	 	9.09 	Administrative Agent May File Proofs of Claim; Credit Bidding	105
	 	9.10 	Collateral and Guaranty Matters	106
	 	9.11 	Secured Cash Management Agreements and Secured Hedge Agreements	107
	 	9.12 	Certain ERISA Matters	107
	 	9.13 	Recovery of Erroneous Payments	109
	 	 	 	 
	Article X CONTINUING GUARANTY	111
	 	10.01 	Guaranty	111
	 	10.02 	Rights of Lenders	111
	 	10.03 	Certain Waivers	112
	 	10.04 	Obligations Independent	112
	 	10.05 	Subrogation	112
	 	10.06 	Termination; Reinstatement	112
	 	10.07 	Stay of Acceleration	113
	 	10.08 	Condition of Borrower	113
	 	10.09	 Appointment of Borrower	113
	 	10.10 	Right of Contribution	113
	 	10.11 	Keepwell	113
	 	 	 	 
	Article XI MISCELLANEOUS	114
	 	11.01 	Amendments, Etc	114
	 	11.02 	Notices; Effectiveness; Electronic Communications	116
	 	11.03 	No Waiver; Cumulative Remedies; Enforcement	118
	 	11.04 	Expenses; Indemnity; Damage Waiver	119
	 	11.05 	Payments Set Aside	120
	 	11.06 	Successors and Assigns	121
	 	11.07 	Treatment of Certain Information; Confidentiality	125
	 	11.08 	Right of Setoff	126
	 	11.09 	Interest Rate Limitation	127
	 	11.10 	Integration; Effectiveness	127


 






    iii


     


    

 


	 	11.11 	Survival of Representations and Warranties	127
	 	11.12 	Severability	127
	 	11.13 	Replacement of Lenders	128
	 	11.14 	Governing Law; Jurisdiction; Etc	129
	 	11.15 	Waiver of Jury Trial	130
	 	11.16 	Subordination	130
	 	11.17 	No Advisory or Fiduciary Responsibility	131
	 	11.18	 Electronic Execution; Electronic Records; Counterparts	131
	 	11.19 	USA Patriot Act Notice	132
	 	11.20 	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	132
	 	11.21 	Acknowledgement Regarding Any Supported QFCs	133





 




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	BORROWER PREPARED SCHEDULES
	 	 	 	 
	 	Schedule 1.01(c)	Responsible Officers	 
	 	Schedule 5.10	Insurance	 
	 	Schedule 5.12	Pension Plans	 
	 	Schedule 5.19(a)	Subsidiaries, Joint Ventures, Partnerships and Other Equity Investments	 
	 	Schedule 5.19(b)	Loan Parties	 
	 	Schedule 5.20(a)	Tennessee Subsidiary Assets	 
	 	Schedule 5.20(b)	Intellectual Property	 
	 	Schedule 5.20(c)	Documents, Instrument, and Tangible Chattel Paper	 
	 	Schedule 5.20(d)(i)	Deposit Accounts & Securities Accounts	 
	 	Schedule 5.20(d)(ii)	Electronic Chattel Paper & Letter-of-Credit Rights	 
	 	Schedule 5.20(e)	Commercial Tort Claims	 
	 	Schedule 5.20(f)	Pledged Equity Interests	 
	 	Schedule 5.20(g)	Properties	 
	 	Schedule 5.20(h)	Material Contracts	 
	 	Schedule 7.01	Existing Liens	 
	 	Schedule 7.02	Existing Indebtedness	 
	 	Schedule 7.03	Existing Investments	 
	 	 	 	 
	ADMINISTRATIVE AGENT PREPARED SCHEDULES
	 	 	 	 
	 	Schedule 1.01(a)	Certain Addresses for Notices	 
	 	Schedule 1.01(b)	Initial Commitments and Applicable Percentages	 
	 	Schedule 2.01	Swingline Commitments	 
	 	Schedule 2.03	Letter of Credit Commitments	 
	 	 	 	 
	 	EXHIBITS	 	 
	 	 	 	 
	 	Exhibit A	Form of Administrative Questionnaire	 
	 	Exhibit B	Form of Assignment and Assumption	 
	 	Exhibit C	Form of Compliance Certificate	 
	 	Exhibit D	Form of Joinder Agreement	 
	 	Exhibit E	Form of Loan Notice	 
	 	Exhibit F	Form of Permitted Acquisition Certificate	 
	 	Exhibit G	Form of Note	 
	 	Exhibit H	Form of Secured Party Designation Notice	 
	 	Exhibit I	Form of Solvency Certificate	 
	 	Exhibit J	Form of Swingline Loan Notice	 
	 	Exhibit K	Form of Notice of Loan Prepayment	 
	 	Exhibit L	Form of Officer’s Certificate	 
	 	Exhibit M	Forms of U.S. Tax Compliance Certificates	 
	 	Exhibit N	Form of Funding Indemnity Letter	 
	 	Exhibit O	Form of Landlord Waiver	 
	 	Exhibit P	Form of Financial Condition Certificate	 
	 	Exhibit Q	Form of Authorization to Share Insurance Information	 



 






    v


     


    

 


CREDIT AGREEMENT


 


This CREDIT AGREEMENT
is entered into as of November 1, 2022, among DOCGO INC., a Delaware corporation (the “Borrower”), the Guarantors
(defined herein), the Lenders (defined herein), and CITIBANK, N.A., as Administrative Agent, Swingline Lender and L/C Issuer.


 


PRELIMINARY STATEMENTS:


 


WHEREAS, the Loan Parties
(as hereinafter defined) have requested that the Lenders, the Swingline Lender and the L/C Issuer make loans and other financial accommodations
to the Loan Parties in an aggregate amount of up to $90,000,000.


 


WHEREAS, the Lenders,
the Swingline Lender and the L/C Issuer have agreed to make such loans and other financial accommodations to the Loan Parties on the terms
and subject to the conditions set forth herein.


 


NOW THEREFORE, in consideration
of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows:


 


Article
I



DEFINITIONS AND ACCOUNTING TERMS


 


1.01 Defined
Terms.


 


As used in this Agreement,
the following terms shall have the meanings set forth below:


 


“Acquisition”
means the acquisition, whether through a single transaction or a series of related transactions, of (a) a majority of the Voting
Stock or other controlling ownership interest in another Person (including the purchase of an option, warrant or convertible or similar
type security to acquire such a controlling interest at the time it becomes exercisable by the holder thereof), whether by purchase of
such equity or other ownership interest or upon the exercise of an option or warrant for, or conversion of securities into, such equity
or other ownership interest, or (b) assets of another Person which constitute all or substantially all of the assets of such Person
or of a division, line of business or other business unit of such Person.


 


“Additional Secured
Obligations” means (a) all obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements, (b)
all obligations arising under bilateral letters of credit issued by any Lender or any Affiliate of a Lender, and (c) all documented costs
and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and disbursements of
outside counsel, in each case 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, expenses and fees that accrue after the commencement by or against any
Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding,
regardless of whether such interest, expenses and fees are allowed claims in such proceeding; provided that Additional Secured
Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor.


 


“Adjusted Covenant
Period” has the meaning specified in Section 7.11(b).


 






    1


     


    

 


“Administrative
Agent” means Citibank in its capacity as administrative agent under any of the Loan Documents, or any successor administrative
agent.


 


“Administrative
Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set forth
on Schedule 1.01(a), or such other address or account as the Administrative Agent may from time to time notify the Borrower and
the Lenders.


 


“Administrative
Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit A or any other form approved
by the Administrative Agent.


 


“Affected Financial
Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.


 


“Affiliate”
means, with respect to a specified 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.


 


“Aggregate Commitments”
means the Commitments of all the Lenders.


 


“Agreement”
means this Credit Agreement, including all schedules, exhibits and annexes hereto.


 


“Applicable Law”
means, as to any Person, all applicable Laws binding upon such Person or to which such a Person is subject.


 


“Applicable Percentage”
means, with respect to any Revolving Lender at any time, the percentage (carried out to the ninth decimal place) of the Revolving Facility
represented by such Revolving Lender’s Revolving Commitment at such time, subject to adjustment as provided in Section 2.15.
If the Commitment of all of the Revolving Lenders to make Revolving Loans and the obligation of the L/C Issuer to make L/C Credit Extensions
have been terminated pursuant to Section 8.02, or if the Revolving Commitments have expired, then the Applicable Percentage of
each Revolving Lender in respect of the Revolving Facility shall be determined based on the Applicable Percentage of such Revolving Lender
in respect of the Revolving Facility most recently in effect, giving effect to any subsequent assignments and to any Lender’s status
as a Defaulting Lender at the time of determination. The Applicable Percentage of each Lender is set forth opposite the name of such Lender
on Schedule 1.01(b) or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto or in any documentation
executed by such Lender pursuant to Section 2.16, as applicable.


 






    2


     


    

 


“Applicable Rate”
means, for any day, the rate per annum set forth below opposite the applicable Level then in effect (based on the Consolidated Net Leverage
Ratio), it being understood that the Applicable Rate for (a) Revolving Loans that are Base Rate Loans shall be the percentage set
forth under the column “Base Rate”, (b) Revolving Loans that are Term SOFR Loans shall be the percentage set forth under
the column “Term SOFR & Letter of Credit Fee”, (c) the Letter of Credit Fee shall be the percentage set forth under
the column “Term SOFR & Letter of Credit Fee”, and (d) the Commitment Fee shall be the percentage set forth under
the column “Commitment Fee”:


 


	Level	 	Consolidated Net

 Leverage Ratio	 	Commitment Fee	 	 	Term SOFR and

 Letter of Credit Fee	 	 	Base Rate	 
	Level 1	 	< 1.25 to 1.00	 	 	0.200	%	 	 	1.25	%	 	 	0.25	%
	Level 2	 	≥ 1.25 to 1.00 but
 < 1.75 to 1.00	 	 	0.225	%	 	 	1.50	%	 	 	0.50	%
	Level 3	 	≥ 1.75 to 1.00 but
 < 2.25 to 1.00	 	 	0.250	%	 	 	1.75	%	 	 	0.75	%
	Level 4	 	≥ 2.25 to 1.00 but
 < 2.75 to 1.00	 	 	0.300	%	 	 	2.00	%	 	 	1.00	%
	Level 5	 	≥ 2.75 to 1.00	 	 	0.350	%	 	 	2.25	%	 	 	1.25	%




 


Any increase or decrease in
the Applicable Rate resulting from a change in the Consolidated Net Leverage Ratio shall become effective as of the third (3rd)
Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided
that if a Compliance Certificate is not delivered when due in accordance with Section 6.02(b), then Pricing Level 5 shall apply,
in each case as of the third (3rd) Business Day after the date on which such Compliance Certificate was required to have been
delivered and in each case shall remain in effect until the third (3rd) Business Day following the date on which such Compliance
Certificate is delivered. In addition, at all times while the Default Rate is in effect, the highest rate set forth in each column of
the Applicable Rate shall apply.


 


Notwithstanding anything to
the contrary contained in this definition, (i) the determination of the Applicable Rate for any period shall be subject to the provisions
of Section 2.10(b) and (ii) the initial Applicable Rate shall be set at Pricing Level 1 until the third (3rd) Business
Day immediately following the date a Compliance Certificate is delivered to the Administrative Agent pursuant to Section 6.02(b)
for the first full fiscal quarter to occur following the Closing Date. Any adjustment in the Applicable Rate shall be applicable to all
Credit Extensions then existing or subsequently made or issued.


 


The Applicable Rate set forth
above shall be increased as, and to the extent, required by Section 2.16.


 


“Applicable Revolving
Percentage” means with respect to any Revolving Lender at any time, such Revolving Lender’s Applicable Percentage
in respect of the Revolving Facility at such time.


 


“Appropriate Lender”
means, at any time, (a)  a Revolving Lender, (b) with respect to the Letter of Credit Sublimit, (i) the L/C Issuer and
(ii) if any Letters of Credit have been issued pursuant to Section 2.03, the Revolving Lenders and (c) with respect to
the Swingline Sublimit, (i) the Swingline Lender and (ii) if any Swingline Loans are outstanding pursuant to Section 2.04(a),
the Revolving Lenders.


 


“Approved Fund”
means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate
of an entity that administers or manages a Lender.


 






    3


     


    

 


“Arranger”
means Citibank, in its capacity as sole lead arranger and sole bookrunner.


 


“Assignment and
Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any
party whose consent is required by Section 11.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit B
or any other form (including an electronic documentation form generated by use of an electronic platform) approved by the Administrative
Agent.


 


“Attributable
Indebtedness” means, on any date, (a) 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, (b) in respect of any Synthetic
Lease Obligation, the capitalized amount of the remaining lease or similar payments under the relevant lease or other applicable agreement
or instrument that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease or other
agreement or instrument were accounted for as a Capitalized Lease, (c) all Synthetic Debt of such Person, and (d) in respect
of any Sale and Leaseback Transaction, the present value (discounted in accordance with GAAP at the debt rate implied in the applicable
lease) of the obligations of the lessee for rental payments during the term of such lease.


 


“Audited Financial
Statements” means the audited Consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal year ended
December 31, 2021, and the related Consolidated statements of income or operations, Shareholders’ Equity and cash flows for such
fiscal year of the Borrower and its Subsidiaries, including the notes thereto.


 


“Authorization
to Share Insurance Information” means the authorization substantially in the form of Exhibit Q (or such other form
as required by each of the Loan Party’s insurance companies).


 


“Availability
Period” means the period from and including the Closing Date to the earliest of (a) the Maturity Date for the Revolving
Facility, (b) the date of termination of the Revolving Commitments pursuant to Section 2.06, and (c) the date of termination
of the Commitment of each Revolving Lender to make Revolving Loans and of the obligation of the L/C Issuer to make L/C Credit Extensions
pursuant to Section 8.02.


 


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


 


“Bail-In
Legislation” means, (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU
of the European Parliament and of the Council of the European Union, the implementing law, rule, regulation or requirement for such EEA
Member Country from time to time which is described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom,
Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United
Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other
than through liquidation, administration or other insolvency proceedings).


 


“Base Rate”
means for any day a fluctuating rate of interest per annum equal to the highest of (a) the Federal Funds Rate plus 0.50%,
(b) the rate of interest in effect for such day as publicly announced from time to time by Citibank as its “prime rate,”
and (c) Term SOFR with an Interest Period of one month plus 1.00%, subject to the interest rate floors set forth therein; provided
that if the Base Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement. The “prime rate”
is a rate set by Citibank based upon various factors including Citibank’s costs and desired return, general economic conditions
and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate.
Any change in such prime rate announced by Citibank shall take effect at the opening of business on the day specified in the public announcement
of such change. If the Base Rate is being used as an alternate rate of interest pursuant to Section 3.03 hereof, then the Base
Rate shall be the greater of clauses (a) and (b) above and shall be determined without reference to clause (c) above.


 






    4


     


    

 


“Base Rate Loan”
means a Revolving Loan that bears interest based on the Base Rate.


 


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


 


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


 


“Benefit Plan”
means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan”
as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise
for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.


 


“BHC Act Affiliate”
of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of
such party.


 


“Borrower”
has the meaning specified in the introductory paragraph hereto.


 


“Borrower Materials”
has the meaning specified in Section 6.02(p).


 


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


 


“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 is located.


 


“Capital Expenditures”
means, with respect to any Person for any period, any expenditure in respect of the purchase or other acquisition of any fixed or capital
asset (excluding normal replacements and maintenance which are properly charged to current operations).


 


“Capitalized Lease”
means any lease that has been or is required to be, in accordance with GAAP, recorded, classified and accounted for as a capitalized lease
or financing lease.


 


“Cash Collateral”
shall have a meaning correlative to the defined term “Cash Collateralize” and shall include the proceeds of such Cash Collateral
and other credit support.


 


“Cash Collateralize”
means to deposit in a Controlled Account or pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or
more of the L/C Issuer or Swingline Lender (as applicable) or the Lenders, as Collateral for L/C Obligations, the Obligations in respect
of Swingline Loans, or obligations of the Revolving Lenders to fund participations in respect of L/C Obligations or Swingline Loans (as
the context may require), (a) cash or deposit account balances, (b) backstop letters of credit entered into on terms, from issuers and
in amounts satisfactory to the Administrative Agent and the applicable L/C Issuer, and/or (c) if the Administrative Agent and the applicable
L/C Issuer or Swingline Lender shall agree, in their sole discretion, other credit support, in each case, in Dollars and pursuant to documentation
in form and substance satisfactory to the Administrative Agent and the L/C Issuer or the Swingline Lender (as applicable).


 






    5


     


    

 


“Cash Equivalents”
means any of the following types of Investments, to the extent owned by the Borrower or any of its Subsidiaries free and clear of all
Liens (other than Permitted Liens):


 


(a) readily
marketable obligations issued or directly and fully guaranteed or insured by the United States or any agency or instrumentality thereof
having maturities of not more than three hundred sixty days (360) days from the date of acquisition thereof; provided that the
full faith and credit of the United States is pledged in support thereof;


 


(b) time
deposits with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that (i) (A) is a Lender
or (B) is organized under the laws of the United States, any state thereof or the District of Columbia or is the principal banking
subsidiary of a bank holding company organized under the laws of the United States, any state thereof or the District of Columbia, and
is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause
(c) of this definition and (iii) has combined capital and surplus of at least $1,000,000,000, in each case with maturities of
not more than ninety (90) days from the date of acquisition thereof;


 


(c) commercial
paper issued by any Person organized under the laws of any state of the United States and rated at least “Prime-1” (or the
then equivalent grade) by Moody’s or at least “A-1” (or the then equivalent grade) by S&P, in each case with maturities
of not more than one hundred eighty (180) days from the date of acquisition thereof; and


 


(d) Investments,
classified in accordance with GAAP as current assets of the Borrower or any of its Subsidiaries, in money market investment programs registered
under the Investment Company Act of 1940, which are administered by financial institutions that have the highest rating obtainable from
either Moody’s or S&P, and the portfolios of which are limited solely to Investments of the character, quality and maturity
described in clauses (a), (b) and (c) of this definition.


 


“Cash Management
Agreement” means any agreement that is not prohibited by the terms hereof to provide treasury or cash management services,
including deposit accounts, overnight draft, credit cards, debit cards, p-cards (including purchasing cards and commercial cards), funds
transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation
and reporting and trade finance services and other cash management services.


 


“Cash Management
Bank” means any Person in its capacity as a party to a Cash Management Agreement that, (a) at the time it enters into
a Cash Management Agreement with a Loan Party or any Subsidiary, is a Lender or an Affiliate of a Lender, or (b) at the time it (or
its Affiliate) becomes a Lender, is a party to a Cash Management Agreement with a Loan Party or any Subsidiary, in each case in its capacity
as a party to such Cash Management Agreement (even if such Person ceases to be a Lender or such Person’s Affiliate ceased to be
a Lender); provided that for any of the foregoing to be included as a “Secured Cash Management Agreement” on any date
of determination by the Administrative Agent, the applicable Cash Management Bank (other than the Administrative Agent or an Affiliate
of the Administrative Agent) must have delivered a Secured Party Designation Notice to the Administrative Agent prior to such date of
determination.


 


“CFC”
means a Person that is a controlled foreign corporation under Section 957 of the Code in which the Borrower or any Loan Party is a United
States shareholder within the meaning of Section 951(b) of the Code.


 






    6


     


    

 


“Change in Law”
means the occurrence, after the Closing Date, of any of the following: (a) the adoption or taking effect of any law, rule, regulation
or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application
thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not
having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (i) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection
therewith or in the implementation thereof and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International
Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory
authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date
enacted, adopted, issued or implemented.


 


“Change of Control”
means an event or series of events by which:


 


(a) any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934,
but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee,
agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and
13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership”
of all securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after the
passage of time (such right, an “option right”)), directly or indirectly, of 40% or more of the equity securities of
the Borrower entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully-diluted basis
(and taking into account all such securities that such “person” or “group” has the right to acquire pursuant to
any option right); or


 


(b) during
any period of twelve (12) consecutive months, a majority of the members of the board of directors or other equivalent governing body of
the Borrower cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day
of such period, (ii) whose election or nomination to that board or equivalent governing body was nominated, appointed or approved
by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that
board or equivalent governing body or (iii) whose election or nomination to that board or other equivalent governing body was nominated,
appointed or approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election
or nomination at least a majority of that board or equivalent governing body.


 


“Citibank”
means Citibank, N.A. and its successors.


 


“Closing Date”
means the date hereof.


 


“CME”
means CME Group Benchmark Administration Limited.


 


“Code”
means the Internal Revenue Code of 1986.


 


“Collateral”
means all of the “Collateral” referred to in the Collateral Documents and all of the other property that is or is intended
under the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the Secured
Parties.


 






    7


     


    

 


“Collateral Documents”
means, collectively, the Security Agreement, the Qualifying Control Agreements, each Joinder Agreement, each of the collateral assignments,
security agreements, pledge agreements, account control agreements or other similar agreements delivered to the Administrative Agent pursuant
to Section 6.14, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor
of the Administrative Agent for the benefit of the Secured Parties.


 


“Commitment”
means a Revolving Commitment.


 


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


 


“Communication”
means this Agreement, any Loan Document and any document, any amendment, approval, consent, information, notice, certificate, request,
statement, disclosure or authorization related to any Loan Document.


 


“Compliance Certificate”
means a certificate substantially in the form of Exhibit C.


 


“Conforming Changes”
means, with respect to the use, administration of or any conventions associated with SOFR or any proposed Successor Rate or Term SOFR,
as applicable, any conforming changes to the definitions of “Base Rate”, “SOFR”, “Term SOFR” and “Interest
Period”, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational
matters (including, for the avoidance of doubt, the definitions of “Business Day” and “U.S. Government Securities Business
Day”, timing of borrowing requests or prepayment, conversion or continuation notices and length of lookback periods) as may be appropriate,
in the reasonable discretion of the Administrative Agent, in consultation with the Borrower, to reflect the adoption and implementation
of such applicable rate(s) and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with
market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively
feasible or that no market practice for the administration of such rate exists, in such other manner of administration as the Administrative
Agent, in consultation with the Borrower, determines is reasonably necessary in connection with the administration of this Agreement and
any other Loan Document).


 


“Connection Income
Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise
Taxes or branch profits Taxes.


 


“Consolidated”
means, when used with reference to financial statements or financial statement items of the Borrower and its Subsidiaries or any other
Person, such statements or items on a consolidated basis in accordance with the consolidation principles of GAAP.


 


“Consolidated
EBITDA” means, for any period, the sum of the following determined on a Consolidated basis, without duplication,
for the Borrower and its Subsidiaries in accordance with GAAP, (a) Consolidated Net Income for the most recently completed Measurement
Period plus (b) the following to the extent deducted in calculating such Consolidated Net Income (without duplication): (i) Consolidated
Interest Charges, (ii) the provision for federal, state, local and foreign income taxes payable, (iii) depreciation and amortization
expense and (iv) non-cash charges and losses, including but not limited to stock compensation, warrant reevaluations and non-cash
charges and losses in connection with finance leases (excluding any such non-cash charges or losses to the extent (A) constituting
write-offs from receivables, (B) there were cash charges with respect to such charges and losses in past accounting periods or (C) there
is a reasonable expectation that there will be cash charges with respect to such charges and losses in future accounting periods) less
(c) without duplication and to the extent reflected as a gain or otherwise included in the calculation of Consolidated Net Income
for such period, non-cash gains (excluding any such non-cash gains to the extent (i) there were cash gains with respect to such gains
in past accounting periods or (ii) there is a reasonable expectation that there will be cash gains with respect to such gains in future
accounting periods).


 






    8


     


    

 


Without limiting the foregoing,
in the event that the Joint Ventures of the Borrower constituting consolidated Subsidiaries are at any time accountable for aggregate
amounts in excess of either 20% of Consolidated Operating Profits or 20% of Consolidated Total Assets, then the Borrower shall, for purposes
of determining compliance with financial covenants hereunder, reduce the Consolidated EBITDA by the aggregate EBITDA of such Joint Ventures
(as determined by the Borrower in good faith and consistent with calculations of Consolidated EBITDA and past business practice) by the
amount that exceeds 20% of Consolidated EBITDA.


 


“Consolidated
Funded Indebtedness” means, as of any date of determination, for the Borrower and its Subsidiaries on a Consolidated basis,
the sum of: (a) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including
Obligations hereunder) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments; (b) all
purchase money Indebtedness; (c) the maximum amount available to be drawn under issued and outstanding letters of credit (including
standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; (d) all obligations in
respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business);
(e) all Attributable Indebtedness; (f) all mandatory obligations to purchase, redeem, retire, defease or otherwise make any
payment prior to the Maturity Date in respect of any Equity Interests or any warrant, right or option to acquire such Equity Interest,
valued, in the case of a redeemable preferred interest, at the applicable liquidation preference plus accrued and unpaid dividends;
(g) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (a) through
(f) above of Persons other than the Borrower or any Subsidiary; and (h) all Indebtedness of the types referred to in clauses
(a) through (g) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited
liability company) in which the Borrower or a Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly
made non-recourse to the Borrower or such Subsidiary.


 


“Consolidated
Interest Charges” means, for any Measurement Period, the sum of (a) all interest, premium payments, debt discount,
fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred
purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, (b) all interest paid or payable
with respect to discontinued operations and (c) the portion of rent expense under Capitalized Leases that is treated as interest
in accordance with GAAP, in each case, of or by the Borrower and its Subsidiaries on a Consolidated basis for the most recently completed
Measurement Period.


 


“Consolidated
Interest Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the most
recently completed Measurement Period to (b) Consolidated Interest Charges, in each case, of or by the Borrower and its Subsidiaries
on a consolidated basis for the most recently completed Measurement Period.


 


“Consolidated
Net Income” means, at any date of determination, the net income (or loss) of the Borrower and its Subsidiaries on a Consolidated
basis for the most recently completed Measurement Period; provided that Consolidated Net Income shall exclude (a) unusual
and infrequent gains and unusual and infrequent losses for such Measurement Period, (b) the net income of any Subsidiary during such
Measurement Period to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary of such income
is not permitted by operation of the terms of its Organization Documents or any agreement, instrument or Law applicable to such Subsidiary
during such Measurement Period, except that the Borrower’s equity in any net loss of any such Subsidiary for such Measurement Period
shall be included in determining Consolidated Net Income, and (c) any income (or loss) for such Measurement Period of any Person
if such Person is not a Subsidiary, except that the Borrower’s equity in the net income of any such Person for such Measurement
Period shall be included in Consolidated Net Income up to the aggregate amount of cash actually distributed by such Person during such
Measurement Period to the Borrower or a Subsidiary as a dividend or other distribution (and in the case of a dividend or other distribution
to a Subsidiary, such Subsidiary is not precluded from further distributing such amount to the Borrower as described in clause (b)
of this proviso).


 






    9


     


    

 


“Consolidated
Net Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of
such date, less Unrestricted Cash as of such date to (b) Consolidated EBITDA of the Borrower and its Subsidiaries on a consolidated
basis for the most recently completed Measurement Period.


 


“Consolidated
Operating Profits” means the amount set forth as “Consolidated Operating Profits” on the internal, unaudited
financial reports of the Borrower, as determined by the Borrower in good faith, in a manner consistent with the Borrower’s past
business practice.


 


“Consolidated
Total Assets” means the aggregate amount of all current and long-term assets of the Borrower and its Subsidiaries, on a
consolidated basis.


 


“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”
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.


 


“Controlled Account”
means each deposit account and securities account that is subject to a Qualifying Control Agreement.


 


“Covered Entity”
means any of the following: (a) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R.
§ 252.82(b); (b) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b);
or (c) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).


 


“Credit Extension”
means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.


 


“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.


 


“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 (a) with respect to any Obligation for which a rate is specified, a rate per annum equal to two percent (2%) in excess of the
rate otherwise applicable thereto and (b) with respect to any Obligation for which a rate is not specified or available, a rate per
annum equal to the Base Rate plus the Applicable Rate for Revolving Loans that are Base Rate Loans plus two percent (2%),
in each case, to the fullest extent permitted by Applicable Law.


 






    10


     


    

 


“Default Right”
has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as
applicable.


 


“Defaulting Lender”
means, subject to Section 2.15(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans within
two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent
and the Borrower in writing that such failure is the result of such Lender’s reasonable determination that one or more conditions
precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such
writing) has not been satisfied, or (ii) pay to the Administrative Agent, the L/C Issuer, the Swingline Lender or any other Lender
any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swingline Loans)
within two (2) Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent, the L/C Issuer or the
Swingline Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to
that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that
such position is based on such Lender’s reasonable determination that a condition precedent to funding (which condition precedent,
together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has
failed, within three (3) Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the
Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such
Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative
Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding
under any Debtor Relief Law, (ii)  appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the
benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit
Insurance Corporation or any other state or federal regulatory authority acting in such a capacity or (iii) become the subject of a Bail-In
Action; 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. Any determination by the Administrative Agent that a Lender is a Defaulting
Lender under any one or more of clauses (a) through (d) above, and the effective date of such status, shall be conclusive
and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.15(b)) as of
the date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative
Agent to the Borrower, the L/C Issuer, the Swingline Lender and each other Lender promptly following such determination.


 


“Designated Jurisdiction”
means any country or territory to the extent that such country or territory is the target or subject of any Sanction.


 


“Designated Subsidiary”
means each Subsidiary identified as a “Designated Subsidiary” on Schedule 5.19(a).


 


“Disposition”
or “Dispose” means the sale, transfer, license, lease or other disposition (including any Sale and Leaseback
Transaction) of any property by any Loan Party or Subsidiary (or the granting of any option or other right to do any of the foregoing),
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.


 






    11


     


    

 


“Dollar”
and “$” mean lawful money of the United States.


 


“Domestic Subsidiary”
means any Subsidiary that is organized under the laws of the United States, any state thereof or the District of Columbia.


 


“EEA Financial
Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject
to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution
described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a Subsidiary
of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its
parent.


 


“EEA Member Country”
means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.


 


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


 


“Electronic Record”
and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as
it may be amended from time to time.


 


“Eligible Assignee”
means any Person that meets the requirements to be an assignee under Section 11.06 (subject to such consents, if any, as may be
required under Section 11.06(b)(iii)).


 


“Environment”
means ambient air, indoor air, surface water, groundwater, drinking water, soil, surface and subsurface strata, and natural resources
such as wetland, flora and fauna.


 


“Environmental
Laws” means any and all federal, state, local, and foreign statutes, laws (including common law), regulations, standards,
ordinances, rules, judgments, interpretations, orders, decrees, permits, agreements or governmental restrictions relating to pollution
or the protection of the Environment or human health (to the extent related to exposure to hazardous materials), including those relating
to the manufacture, generation, handling, transport, storage, treatment, Release or threat of Release of Hazardous Materials, air emissions
and discharges to waste or public systems.


 


“Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation,
fines, penalties or indemnities) whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute
or common law, directly or indirectly relating to (a) any Environmental Law, (b) the generation, use, handling, transportation, storage,
treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) Release or threatened Release of any Hazardous
Materials 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, certification, registration, approval, identification number, license or other authorization required
under any Environmental Law.


 


“Equity Interests”
means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all
of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership
or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership
or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests
therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on
any date of determination.


 






    12


     


    

 


“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and the rules and regulations promulgated thereunder.


 


“ERISA Affiliate”
means any trade or business (whether or not incorporated) under common control with the Borrower within the meaning of Sections 414(b)
or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code).


 


“ERISA Event”
means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of the Borrower or any ERISA Affiliate from
a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity 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 the Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer
Plan is insolvent; (d) the filing of a notice of intent to terminate, the treatment of a Pension Plan amendment as a termination
under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan; (f) any 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; (g) the determination that any Pension Plan is considered an at-risk plan or a plan in endangered or critical status
within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; (h) 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 the Borrower or any ERISA
Affiliate or; (i) a failure by the Borrower or any ERISA Affiliate to meet all applicable requirements under the Pension Funding
Rules in respect of a Pension Plan, whether or not waived, or the failure by the Borrower or any ERISA Affiliate to make any required
contribution to a Multiemployer Plan.


 


“Erroneous Payment”
has the meaning specified in Section 9.13(a).


 


“Erroneous Payment
Deficiency Assignment” has the meaning specified in Section 9.13(d).


 


“Erroneous Payment
Impacted Class” has the meaning specified in Section 9.13(d).


 


“Erroneous Payment
Return Deficiency” has the meaning specified in Section 9.13(d).


 


“Erroneous Payment
Subrogation Rights” has the meaning specified in Section 9.13(d).


 


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


 


“Event of Default”
has the meaning specified in Section 8.01.


 


“Excluded Property”
means, with respect to any Loan Party, (a) any leased real property, (b) any owned real property located in the United States or
any territory thereof with a fair market value (as reasonably determined by the Borrower) less than $5,000,000, (c) any owned real property
which is located outside of the United States or any territory thereof, (d) unless reasonably requested by the Administrative Agent
or the Required Lenders, any Intellectual Property for which a perfected Lien thereon is not effected either by filing of a UCC financing
statement or by appropriate evidence of such Lien being filed in either the United States Copyright Office or the United States Patent
and Trademark Office, (e) the Equity Interests of any Foreign Subsidiary of any Loan Party to the extent not required to be pledged to
secure the Secured Obligations pursuant to the Collateral Documents and (f) the Equity Interests of any Excluded Subsidiary.


 






    13


     


    

 


“Excluded Subsidiary”
means, collectively, (a) any Designated Subsidiary, (b) any Joint Venture solely to the extent such Joint Venture (x) is prohibited
or restricted by applicable law or by its Organizational Documents existing on the Closing Date (or, in the case of any Joint Venture
acquired or formed after the Closing Date pursuant to a Permitted Acquisition, the Organizational Documents in existence at the time of
such Permitted Acquisition or formation (including in any Indebtedness assumed in connection therewith)), and with respect to the Organizational
Documents, so long as any such Organizational Documents were not entered into for the purpose of evading compliance with provisions of
any Loan Document that would otherwise be applicable to such Joint Venture, (y) would require governmental (including regulatory) or third
party consent, approval, license or authorization (it being understood there is no requirement to obtain such consent, approval, increase
or authorization) to guarantee the Obligations or (z) could reasonably be expected to incur a material adverse tax or regulatory consequences
(as reasonably determined by the Borrower) in respect of the application of the Loan Documents to such Joint Venture, (c) any Subsidiary
that is a captive insurance company and (d) any other Subsidiary with respect to which, in the reasonable judgment of the Borrower and
the Administrative Agent in its reasonable discretion, the burden or cost of compliance with provisions of any Loan Document that would
otherwise be applicable to such Subsidiary would be excessive in view of the benefits to be obtained by the Lenders therefrom.


 


“Excluded Swap
Obligation” means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the
Guaranty of such Guarantor of, or the grant by such Guarantor of a Lien to secure, such Swap Obligation (or any Guarantee thereof) is
or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the
application or official interpretation thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible
contract participant” as defined in the Commodity Exchange Act (determined after giving effect to Section 10.11 and any other
“keepwell”, support or other agreement for the benefit of such Guarantor and any and all guarantees of such Guarantor’s
Swap Obligations by other Loan Parties) at the time the Guaranty of such Guarantor, or grant by such Guarantor of a Lien, becomes effective
with respect to such Swap Obligation. If a Swap Obligation arises under a Master Agreement governing more than one Swap Contract, such
exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swap Contracts for which such Guaranty or Lien
is or becomes excluded in accordance with the first sentence of this definition.


 


“Excluded Taxes”
means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or deducted from a payment to
a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in
each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the
case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that
are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the
account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which
(i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under
Section 11.13) or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to Sections
3.01(b), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became
a party hereto or to such Lender immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient’s
failure to comply with Section 3.01(f) and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA.


 






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“Extraordinary
Receipt” means any cash received by or paid to or for the account of any Person not in the ordinary course of business,
including tax refunds, pension plan reversions, proceeds of insurance (other than proceeds of business interruption insurance to the extent
such proceeds constitute compensation for lost earnings and proceeds of Involuntary Dispositions), indemnity payments and any purchase
price adjustments; provided that an Extraordinary Receipt shall not include cash receipts from proceeds of insurance or indemnity
payments to the extent that such proceeds, awards or payments are received by any Person in respect of any third party claim against
such Person and applied to pay (or to reimburse such Person for its prior payment of) such claim and the costs and expenses of such Person
with respect thereto.


 


“Facility Termination
Date” means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated,
(b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have
terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative
Agent and the L/C Issuer shall have been made).


 


“FASB ASC”
means the Accounting Standards Codification of the Financial Accounting Standards Board.


 


“FATCA”
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof and
any agreements entered into pursuant to Section 1471(b)(1) of the Code, as of the date of this Agreement (or any amended or successor
version described above) and any intergovernmental agreement (and related fiscal or regulatory legislation, or related official rules
or practices) implementing the foregoing.


 


“Federal Funds
Rate” means, for any day, the rate per annum calculated by the Federal Reserve Bank of New York based on such day’s
federal funds transactions by depository institutions (as determined in such manner as the Federal Reserve Bank of New York shall set
forth on its public website from time to time) and published on the next succeeding Business Day by the Federal Reserve Bank of New York
as the federal funds effective rate; provided that if the Federal Funds Rate as so determined would be less than zero, such rate shall
be deemed to be zero for the purposes of this Agreement.


 


“Fee Letter”
means the letter agreement, dated June 30, 2022, among the Borrower, the Administrative Agent and the Arranger.


 


“Foreign Lender”
means (a) if the Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if the Borrower is not a U.S. Person,
a Lender that is resident or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes.
For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single
jurisdiction.


 


“Foreign Subsidiary”
means any Subsidiary that is not a Domestic Subsidiary.


 


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


 


“Fronting Exposure”
means, at any time there is a Defaulting Lender that is a Revolving Lender, (a) with respect to the L/C Issuer, such Defaulting Lender’s
Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation
obligation has been reallocated to other Revolving Lenders or Cash Collateralized in accordance with the terms hereof, and (b) with
respect to the Swingline Lender, such Defaulting Lender’s Applicable Percentage of Swingline Loans other than Swingline Loans as
to which such Defaulting Lender’s participation obligation has been reallocated to other Revolving Lenders or Cash Collateralized
in accordance with the terms hereof.


 






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“FSHCO”
means any Subsidiary substantially all of the assets of which constitute the Equity Interests of CFCs.


 


“Fund”
means any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial
loans and similar extensions of credit in the ordinary course of its activities.


 


“Funding Indemnity
Letter” means a funding indemnity letter, substantially in the form of Exhibit N.


 


“GAAP”
means generally accepted accounting principles in the United States set forth from time to time in the opinions and pronouncements of
the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board (or agencies with similar functions of comparable stature and authority within the accounting profession) including,
without limitation, the FASB Accounting Standards Codification, that are applicable to the circumstances as of the date of determination,
consistently applied and subject to Section 1.03.


 


“Governmental
Authority” means the government of the United States or any other nation, or of any political subdivision thereof, whether
state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including, without limitation,
any supra-national bodies such as the European Union or the European Central Bank).


 


“Guarantee”
means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of
guaranteeing any Indebtedness of the kind described in clauses (a) through (g) of the definition thereof or other 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 obligation, (ii) to purchase or lease property, securities or services for the purpose
of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other
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 obligation, or (iv) entered
into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other 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 of the kind described in clauses (a) through (g) of the definition thereof or other
obligation of any other Person, whether or not such Indebtedness or other obligation is assumed or expressly undertaken 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 the ordinary course of business. 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.


 


“Guaranteed Obligations”
has the meaning set forth in Section 10.01.


 






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“Guarantors”
means, collectively, (a) the Subsidiaries of the Borrower as are or may from time to time become parties to this Agreement pursuant to
Section 6.13, and (b) with respect to Additional Secured Obligations owing by any Loan Party or any of its Subsidiaries and any
Swap Obligation of a Specified Loan Party (determined before giving effect to Sections 10.01 and 10.11) under the Guaranty,
the Borrower.


 


“Guaranty”
means, collectively, the Guarantee made by the Guarantors under Article X in favor of the Secured Parties, together with each other
guaranty delivered pursuant to Section 6.13.


 


“Hazardous Materials”
means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum
or petroleum distillates, natural gas, natural gas liquids, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon
gas, toxic mold, infectious or medical wastes and all other substances, wastes, chemicals, pollutants, contaminants or compounds of any
nature in any form regulated pursuant to any Environmental Law.


 


“Hedge Bank”
means any Person in its capacity as a party to a Swap Contract that, (a) at the time it enters into a Swap Contract not prohibited
under Articles VI or VII, is a Lender or an Affiliate of a Lender, or (b) at the time it (or its Affiliate) becomes
a Lender, is a party to a Swap Contract not prohibited under Articles VI or VII, in each case, in its capacity as a party
to such Swap Contract (even if such Person ceases to be a Lender or such Person’s Affiliate ceased to be a Lender); provided
that in the case of a Secured Hedge Agreement with a Person who is no longer a Lender (or Affiliate of a Lender), such Person shall be
considered a Hedge Bank only through the stated termination date (without extension or renewal) of such Secured Hedge Agreement and provided
further that for any of the foregoing to be included as a “Secured Hedge Agreement” on any date of determination by the
Administrative Agent, the applicable Hedge Bank (other than the Administrative Agent or an Affiliate of the Administrative Agent) must
have delivered a Secured Party Designation Notice to the Administrative Agent prior to such date of determination.


 


“Incremental Facility”
has the meaning specified in Section 2.16(a).


 


“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) all
direct or contingent obligations of such Person arising under letters of credit, bankers’ acceptances, bank guaranties, surety bonds
and similar instruments;


 


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


 


(d) all
obligations (including, without limitation, earnout obligations) of such Person to pay the deferred purchase price of property or services
(other than trade accounts payable in the ordinary course of business and not past due for more than ninety (90) days after the date on
which such trade account was created);


 


(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), whether or not such indebtedness shall have been assumed by such Person
or is limited in recourse;


 


(f) all
Attributable Indebtedness in respect of Capitalized Leases, Synthetic Lease Obligations and Synthetic Debt of such Person;


 






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(g) all
obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Equity Interest in such
Person or any other Person or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred
interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; and


 


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


 


For all purposes hereof, the
Indebtedness of any Person shall 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, unless such Indebtedness is
expressly made non-recourse to such Person. 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 such date. The amount of any Indebtedness of any Person for purposes of clause (e) that is expressly
made non-recourse or limited-recourse (limited solely to the assets securing such Indebtedness) to such Person shall be deemed to be equal
to the lesser of (i) the aggregate principal amount of such Indebtedness and (ii) the fair market value of the property encumbered thereby
as determined by such Person in good faith.


 


“Indemnified Taxes”
means all (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation
of any Loan Party under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes.


 


“Indemnitee”
has the meaning specified in Section 11.04(b).


 


“Information”
has the meaning specified in Section 11.07(a).


 


“Intellectual
Property” has the meaning set forth in the Security Agreement.


 


“Intercompany
Debt” has the meaning specified in Section 7.02(d).


 


“Interest Payment
Date” means, (a) as to any Term SOFR Loan, the last day of each Interest Period applicable to such Loan and the Maturity
Date; provided that if any Interest Period for a Term SOFR Loan exceeds three (3) months, the respective dates that fall every
three (3) months after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan
or Swingline Loan, the last Business Day of each March, June, September and December and the Maturity Date.


 


“Interest Period”
means as to each Term SOFR Loan, the period commencing on the date such Term SOFR Loan is disbursed or converted to or continued as a
Term SOFR Loan and ending on the date one, three or six months thereafter, as selected by the Borrower in its Loan Notice (in the case
of each requested Interest Period, subject to availability); 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,
in the case of a Term SOFR Loan, such Business Day falls in another calendar month, in which case such Interest Period shall end on the
immediately preceding Business Day;


 


(b) any
Interest Period pertaining to a Term SOFR Loan 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


 






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(c)  no
Interest Period shall extend beyond the Maturity Date.


 


“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 of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption
of debt of, or purchase or other acquisition of any other debt or interest in, another Person (including any partnership or joint venture
interest in such other Person and any arrangement pursuant to which the investor guaranties Indebtedness of such other Person), or (c) the
purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person which constitute all or substantially
all of the assets of such Person or of a division, line of business or other business unit 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 but giving effect to any returns or distributions of capital or repayment of principal actually received in cash by
such other Person with respect thereto (but only to the extent that the aggregate amount of all such returns, distributions and repayments
with respect to such Investment does not exceed the principal amount of such Investment).


 


“Involuntary Disposition”
means any loss of, damage to or destruction of, or any condemnation or other taking for public use of, any property of any Loan Party
or any Subsidiary.


 


“IRS”
means the United States Internal Revenue Service.


 


“ISP”
means the International Standby Practices, International Chamber of Commerce Publication No. 590 (or such later version thereof as may
be in effect at the applicable time).


 


“Issuer Documents”
means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered
into by the L/C Issuer and the Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating to such Letter of Credit.


 


“Joinder Agreement”
means a joinder agreement substantially in the form of Exhibit D executed and delivered in accordance with the provisions
of Section 6.13.


 


“Joint Venture”
means any joint venture whose Equity Interests are owned directly by one or more Loan Party and such Loan Party or Loan Parties directly
own and control fifty percent (50.0%) or less than fifty percent (50.0%) of the Equity Interests issued thereby. The Joint Ventures as
of the Closing Date are set forth on Schedule 5.19(a).


 


“Landlord Waiver”
means a landlord or warehouse waiver substantially in the form of Exhibit O or in such other form reasonably satisfactory to the
Administrative Agent.


 


“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 Lender, such Lender’s funding of its participation in any L/C Borrowing
in accordance with its Applicable Revolving Percentage.


 


“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 Borrowing.


 






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“L/C
Commitment” means the commitment of the L/C Issuer to issue Letters of Credit hereunder. The initial amount of the L/C Issuer’s
Letter of Credit Commitment is set forth on Schedule 2.03. The Letter of Credit Commitment of the L/C Issuer may be modified from
time to time by agreement between the L/C Issuer and the Borrower, and notified to the Administrative Agent.


 


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


 


“L/C
Issuer” means Citibank, in its capacity as issuer of 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 amount available to be drawn under all outstanding Letters
of Credit plus the aggregate of all Unreimbursed Amounts (including all L/C Borrowings). For purposes of computing the amount available
to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06.
For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still
be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding”
in the amount so remaining available to be drawn.


 


“Lender”
means each of the Persons identified as a “Lender” on the signature pages hereto, each other Person that becomes a “Lender”
in accordance with this Agreement and, their successors and assigns and, unless the context requires otherwise, includes the Swingline
Lender.


 


“Lender Party”
means collectively, the Lenders, the Swingline Lender and the L/C Issuer.


 


“Lending Office”
means, as to the Administrative Agent, the L/C Issuer or any Lender, the office or offices of such Person described as such in such Person’s
Administrative Questionnaire, or such other office or offices as such Person may from time to time notify the Borrower and the Administrative
Agent; which office may include any Affiliate of such Person or any domestic or foreign branch of such Person or such Affiliate.


 


“Letter of Credit”
means any standby letter of credit issued hereunder.


 


“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 L/C Issuer.


 


“Letter of Credit
Fee” has the meaning specified in Section 2.03(m).


 


“Letter of Credit
Sublimit” means, as of any date of determination, an amount equal to the lesser of (a) $15,000,000 and (b) the
Revolving Facility. The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Facility.


 


“Lien”
means any mortgage, pledge, hypothecation, collateral assignment, deposit arrangement, encumbrance, lien (statutory or otherwise), charge,
or preference, priority or other security interest or preferential arrangement in the nature of a security interest 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 financing lease having substantially the same economic effect as any of the foregoing).


 


“Loan”
means an extension of credit by a Lender to the Borrower under Article II in the form of a Revolving Loan or a Swingline Loan.


 






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“Loan Documents”
means, collectively, (a) this Agreement, (b) the Notes, (c) the Guaranty, (d) the Collateral Documents, (e) the
Fee Letter, (f) each Issuer Document, (g) each Joinder Agreement, (h) any agreement creating or perfecting rights in Cash
Collateral pursuant to the provisions of Section 2.14, and (i) all other certificates, agreements, documents and instruments executed
and delivered, in each case, by or on behalf of any Loan Party pursuant to the foregoing (but specifically excluding any Secured Hedge
Agreement or any Secured Cash Management Agreement) and any amendments, modifications or supplements thereto or to any other Loan Document
or waivers hereof or to any other Loan Document; provided that for purposes of Section 11.01, “Loan Documents”
shall mean this Agreement, the Guaranty and the Collateral Documents.


 


“Loan Notice”
means a notice of (a) a Borrowing, (b) a conversion of Loans from one Type to the other, or (c) a continuation of Term
SOFR Loans, pursuant to Section 2.02(a), which shall be substantially in the form of Exhibit E or such other form as may
be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved
by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower.


 


“Loan Parties”
means, collectively, the Borrower and each Guarantor.


 


“Marketable Securities”
means Investments in Equity Interests issued by any Person which (a) are publicly traded on a national exchange and (b) at any date, are,
in conformity with GAAP, categorized as “Marketable Securities” on a consolidated balance sheet of the Borrower and its Subsidiaries
at such date.


 


“Master Agreement”
has the meaning set forth in the definition of “Swap Contract.”


 


“Material Adverse
Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations, business, properties,
liabilities (actual or contingent), or financial condition of the Borrower or the Borrower and its Subsidiaries taken as a whole; or (b) a
material adverse effect on (i) the ability of any Loan Party to perform its Obligations under any Loan Document to which it is a party,
(ii) the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party or (iii)
the rights, remedies and benefits available to, or conferred upon, the Administrative Agent or any Lender under any Loan Documents.


 


“Material Contract”
means each contract, agreement, permit or license of the Borrower and its Subsidiaries as to which the breach, nonperformance, cancellation
or failure to renew by any party thereto, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect,
as set forth on Schedule 5.20(h) as of the Closing Date.


 


“Maturity Date”
means November 1, 2027; provided that if such date is not a Business Day, the Maturity Date shall be the next preceding Business
Day.


 


“Measurement Period”
means, as of any date of determination, the period of four (4) consecutive fiscal quarters ended on or immediately prior to such date
for which financial statements of the Borrower and its Subsidiaries have been delivered to the Administrative Agent hereunder.


 


“Medicaid”
means that government-sponsored entitlement program under Title XIX, P.L. 89–97 of the Social Security Act, which provides federal
grants to states for medical assistance based on specific eligibility criteria, as set forth on Section 1396, et seq. of Title 42 of the
United States Code.


 


“Medicare”
means that government-sponsored insurance program under Title XVIII, P.L. 89–97, of the Social Security Act, which provides for
a health insurance system for eligible elderly and disabled individuals, as set forth at Section 1395, et seq. of Title 42 of the United
States Code.


 






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“Minimum Collateral
Amount” means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances, an
amount equal to 103% of the Fronting Exposure of the L/C Issuer with respect to Letters of Credit issued and outstanding at such time
and (b) otherwise, an amount determined by the Administrative Agent and the L/C Issuer in their commercially reasonable discretion.


 


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


 


“Multiemployer
Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower or
any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five (5) plan years, has made or been obligated
to make contributions.


 


“Multiple Employer
Plan” means a Plan which has two or more contributing sponsors (including the Borrower or any ERISA Affiliate) at least
two of whom are not under common control, as such a plan is described in Section 4064 of ERISA.


 


“New Revolving
Lender” has the meaning specified in Section 2.16(c).


 


“Non-Consenting
Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all
Lenders or all affected Lenders, in accordance with the terms of Section 11.01 and (b) has been approved by the Required Lenders.


 


“Non-Defaulting
Lender” means, at any time, each Lender that is not a Defaulting Lender at such time.


 


“Note”
means a promissory note made by the Borrower in favor of a Revolving Lender evidencing Revolving Loans or Swingline Loans, as the case
may be, made by such Revolving Lender, substantially in the form of Exhibit G.


 


“Notice of Loan
Prepayment” means a notice of prepayment with respect to a Loan, which shall be substantially in the form of Exhibit
K or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission
system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer.


 


“Obligations”
means (a) all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document
or otherwise with respect to any Loan, or Letter of Credit (including any Erroneous Payment Subrogation Rights) and (b) all documented
costs and expenses incurred in connection with enforcement and collection of the foregoing, including the reasonable and documented fees,
charges and disbursements of outside counsel, in each case 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, expenses and fees that accrue after the
commencement by or against any Loan Party or any Affiliate thereof pursuant to any proceeding under any Debtor Relief Laws naming such
Person as the debtor in such proceeding, regardless of whether such interest, expenses and fees are allowed claims in such proceeding;
provided that, without limiting the foregoing, the Obligations of a Guarantor shall exclude any Excluded Swap Obligations with
respect to such Guarantor.


 


“OFAC”
means the Office of Foreign Assets Control of the United States Department of the Treasury.


 


“Officer’s
Certificate” means a certificate substantially the form of Exhibit L or any other form approved by the Administrative
Agent.


 






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“Organization
Documents” means, (a) with respect to any corporation, the charter or 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 or limited liability company
agreement (or equivalent or comparable documents with respect to any non-U.S. jurisdiction); (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
(or equivalent or comparable documents with respect to any non-U.S. jurisdiction) and (d) with respect to all entities, 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 (or equivalent or comparable documents with respect to any non-U.S. jurisdiction).


 


“Other Connection
Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient
and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party
to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction
pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).


 


“Other Taxes”
means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made
under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest
under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to
an assignment (other than an assignment made pursuant to Section 3.06).


 


“Outstanding Amount”
means (a) with respect to Revolving Loans and Swingline Loans on any date, the aggregate outstanding principal amount thereof after
giving effect to any Borrowings and prepayments or repayments of Revolving Loans and Swingline Loans, as the case may be, occurring on
such date; and (b) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving
effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such
date, including as a result of any reimbursements by the Borrower of Unreimbursed Amounts.


 


“Participant”
has the meaning specified in Section 11.06(d).


 


“Participant Register”
has the meaning specified in Section 11.06(d).


 


“Patriot Act”
has the meaning specified in Section 11.19.


 


“Payment Recipient”
has the meaning specified in Section 9.13(a).


 


“PBGC”
means the Pension Benefit Guaranty Corporation.


 


“Pension Funding
Rules” means the rules of the Code and ERISA regarding minimum funding standards with respect to Pension Plans and set forth
in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.


 


“Pension Plan”
means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is contributed
to by the Borrower and any ERISA Affiliate or with respect to which the Borrower or any ERISA Affiliate has any liability and is either
covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code.


 






    23


     


    

 


“Permitted Acquisition”
means an Acquisition by a Loan Party (the Person or division, line of business or other business unit of the Person to be acquired in
such Acquisition shall be referred to herein as the “Target”), in each case that is a type of business (or assets
used in a type of business) permitted to be engaged in by the Borrower and its Subsidiaries pursuant to the terms of this Agreement, in
each case so long as:


 


(a) no
Event of Default shall then exist or would exist after giving effect thereto;


 


(b) the
Loan Parties shall demonstrate to the reasonable satisfaction of the Administrative Agent that, after giving effect to the Acquisition
on a Pro Forma Basis, (i) the Loan Parties are in Pro Forma Compliance and (ii) the Consolidated Net Leverage Ratio shall
be at least 0.25 to 1.0 less than the then applicable level set forth in Section 7.11, calculated using the same Measurement Period
used to determine Pro Forma Compliance;


 


(c) the
Administrative Agent, on behalf of the Secured Parties, shall have received (or shall receive in connection with the closing of such Acquisition)
a first priority perfected security interest in all property (subject to Permitted Liens and including, without limitation, Equity Interests)
acquired with respect to the Target in accordance with the terms of Section 6.14 and the Target, if a Person, shall have executed
a Joinder Agreement in accordance with the terms of Section 6.13;


 


(d) the
Administrative Agent and the Lenders shall have received not less than fifteen (15) days prior to the consummation of any such Acquisition
(i) a description of the material terms of such Acquisition, (ii) audited financial statements (or, if unavailable, management-prepared
financial statements) of the Target for its two most recent fiscal years and for any fiscal quarters ended within the fiscal year to date,
(iii) in respect of any Specified Permitted Acquisition, Consolidated projected income statements of the Borrower and its Subsidiaries
(giving effect to such Acquisition), and (iv) in respect of any Permitted Acquisition with a purchase price in excess of $10,000,000,
a Permitted Acquisition Certificate, executed by a Responsible Officer of the Borrower certifying that such Permitted Acquisition complies
with the requirements of this Agreement;


 


(e) in
respect of any Permitted Acquisition with a purchase price in excess of $10,000,000, the Target shall have earnings before interest, taxes,
depreciation and amortization for the four (4) fiscal quarter period prior to the acquisition date, and after giving effect to any pro
forma adjustments reasonably acceptable to the Administrative Agent, in an amount greater than $0; and


 


(f) such
Acquisition shall not be a “hostile” Acquisition and shall have been approved by the board of directors (or equivalent) and/or
shareholders (or equivalent) of the applicable Loan Party and the Target.


 


“Permitted Acquisition
Certificate” means a certificate substantially the form of Exhibit F or any other form approved by the Administrative
Agent.


 


“Permitted Liens”
has the meaning set forth in Section 7.01.


 


“Permitted Transfers”
means (a) Dispositions of inventory and Investments in the ordinary course of business; (b) Dispositions of property to the Borrower
or any Subsidiary; provided that if the transferor of such property is a Loan Party then the transferee thereof must be a Loan
Party; (c) Dispositions of accounts receivable in connection with the collection or compromise thereof; (d) licenses, sublicenses
(including the provision of open source software under an open source license), leases or subleases granted to others not interfering
in any material respect with the business of the Borrower and its Subsidiaries; (e) the sale or disposition of Cash Equivalents for
fair market value; (f) Dispositions of equipment or real 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 reasonably promptly applied to the purchase
price of such replacement property; (g) Dispositions permitted by Section 7.04; (h) Dispositions of intellectual property rights
that are no longer used or useful in the business of the Borrower and its Subsidiaries; (i) Dispositions of non-core assets acquired pursuant
to Permitted Acquisitions or other Acquisitions permitted hereunder; (j) Investments permitted by Section 7.03; and (k) Restricted
Payments permitted by Section 7.06.


 






    24


     


    

 


“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 within the meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees
of the Borrower or any ERISA Affiliate or any such Plan to which the Borrower or any ERISA Affiliate is required to contribute on behalf
of any of its employees.


 


“Platform”
has the meaning specified in Section 6.02(p).


 


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


 


“Pro Forma Basis”
and “Pro Forma Effect” means, for any Disposition of all or substantially all of a division or a line of business
or for any Acquisition, whether actual or proposed, for purposes of determining compliance with the financial covenants set forth in Section 7.11,
each such transaction or proposed transaction shall be deemed to have occurred on and as of the first day of the relevant Measurement
Period, and the following pro forma adjustments shall be made:


 


(a) in
the case of an actual or proposed Disposition, all income statement items (whether positive or negative) attributable to the line of business
or the Person subject to such Disposition shall be excluded from the results of the Borrower and its Subsidiaries for such Measurement
Period;


 


(b) in
the case of an actual or proposed Acquisition, income statement items (whether positive or negative) attributable to the property, line
of business or the Person subject to such Acquisition shall be included in the results of the Borrower and its Subsidiaries for such Measurement
Period;


 


(c) interest
accrued during the relevant Measurement Period on, and the principal of, any Indebtedness repaid or to be repaid or refinanced in such
transaction shall be excluded from the results of the Borrower and its Subsidiaries for such Measurement Period; and


 


(d) any
Indebtedness actually or proposed to be incurred or assumed in such transaction shall be deemed to have been incurred as of the first
day of the applicable Measurement Period, and interest thereon shall be deemed to have accrued from such day on such Indebtedness at the
applicable rates provided therefor (and in the case of interest that does or would accrue at a formula or floating rate, at the rate in
effect at the time of determination) and shall be included in the results of the Borrower and its Subsidiaries for such Measurement Period.


 


“Pro Forma Compliance”
means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect,
based upon the results of operations for the most recently completed Measurement Period, to (a) such transaction and (b) all
other transactions which are contemplated or required to be given Pro Forma Effect hereunder that have occurred on or after the first
day of the relevant Measurement Period.


 






    25


     


    

 


“PTE”
means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time
to time.


 


“Public Lender”
has the meaning specified in Section 6.02(p).


 


“QFC”
has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C.
5390(c)(8)(D).


 


“QFC Credit Support”
has the meaning specified in Section 11.21.


 


“Qualified ECP
Guarantor” means, at any time, each Loan Party with total assets exceeding $10,000,000 or that qualifies at such time as
an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible
contract participant” at such time under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.


 


“Qualifying Control
Agreement” means an agreement, among a Loan Party, a depository institution or securities intermediary and the Administrative
Agent, which agreement is in form and substance reasonably acceptable to the Administrative Agent and which provides the Administrative
Agent with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described
therein.


 


“Recipient”
means the Administrative Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made by or on account of any obligation
of any Loan Party hereunder.


 


“Register”
has the meaning specified in Section 11.06(c).


 


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


 


“Related Parties”
means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees,
administrators, managers, advisors, consultants, service providers and representatives of such Person and of such Person’s Affiliates.


 


“Release”
means any release, spill, emission, discharge, deposit, disposal, leaking, pumping, pouring, dumping, emptying, injection or leaching
into the Environment, or into, from or through any building, structure or facility.


 


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


 


“Request for Credit
Extension” means (a) with respect to a Borrowing, conversion or continuation of Revolving Loans, a Loan Notice, (b) with
respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swingline Loan, a Swingline Loan Notice.


 


“Required Lenders”
means, at any time, at least two (2) Lenders that are not Affiliates having Total Revolving Exposures representing more than 65% of the
Total Revolving Exposures of all Lenders. The Total Revolving Exposure of any Defaulting Lender shall be disregarded in determining Required
Lenders at any time; provided that, the amount of any participation in any Swingline Loan and Unreimbursed Amounts that such Defaulting
Lender has failed to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by the Lender that
is the Swingline Lender or the L/C Issuer, as the case may be, in making such determination; provided further that, this definition
is subject to Section 3.03.


 






    26


     


    

 


“Rescindable Amount”
has the meaning as defined in Section 2.12(b)(ii).


 


“Resolution Authority”
means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.


 


“Resignation Effective
Date” has the meaning set forth in Section 9.06(a).


 


“Responsible Officer”
means the chief executive officer, president, chief financial officer, treasurer or controller of a Loan Party, and solely for purposes
of the delivery of incumbency certificates pursuant to Section 4.01(b), the secretary or any assistant secretary 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. To the extent requested by the Administrative Agent, each Responsible Officer will
provide an incumbency certificate and to the extent requested by the Administrative Agent, appropriate authorization documentation, in
form and substance reasonably satisfactory to the Administrative Agent.


 


“Restricted Payment”
means (a) any dividend or other distribution, direct or indirect, on account of any shares (or equivalent) of any class of Equity
Interests of the Borrower or any of its Subsidiaries, now or hereafter outstanding, (b) any redemption, retirement, sinking fund
or similar payment, purchase or other acquisition for value, direct or indirect, of any shares (or equivalent) of any class of Equity
Interests of the Borrower or any of its Subsidiaries, now or hereafter outstanding, (c) any payment made to retire, or to obtain
the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of Equity Interests of any Loan Party
or any of its Subsidiaries, now or hereafter outstanding, (d) any payment in respect of Shareholder Redemption Notes and (e) any
payment with respect to any earnout obligation.


 


“Revolving Borrowing”
means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Term SOFR Loans, having the same Interest
Period made by each of the Revolving Lenders pursuant to Section 2.01.


 


“Revolving Commitment”
means, as to each Revolving Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase
participations in L/C Obligations, and (c) purchase participations in Swingline Loans, in an aggregate principal amount at any one
time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 1.01(b) under the caption “Revolving
Commitment” or opposite such caption 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 Revolving Commitment of all of the Revolving Lenders
on the Closing Date shall be $90,000,000.


 


“Revolving Exposure”
means, as to any Lender at any time, the aggregate principal amount at such time of its outstanding Revolving Loans and such Lender’s
participation in L/C Obligations and Swingline Loans at such time.


 


“Revolving Facility”
means, at any time, the aggregate amount of the Revolving Lenders’ Revolving Commitments at such time.


 






    27


     


    

 


“Revolving Lender”
means, at any time, (a) so long as any Revolving Commitment is in effect, any Lender that has a Revolving Commitment at such time
or (b) if the Revolving Commitments have terminated or expired, any Lender that has a Revolving Loan or a participation in L/C Obligations
or Swingline Loans at such time.


 


“Revolving Loan”
has the meaning specified in Section 2.01.


 


“S&P”
means Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc., and any successor thereto.


 


“Sale and Leaseback
Transaction” means, with respect to any Loan Party or any Subsidiary, any arrangement, directly or indirectly, with any
Person whereby such Loan Party or such Subsidiary shall sell or transfer any property used or useful in its business, whether now owned
or hereafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same
purpose or purposes as the property being sold or transferred.


 


“Sanction(s)”
means any sanction or other economic or restrictive measures enacted, administered or enforced by the United States Government (including,
without limitation, OFAC), the United Nations Security Council, the European Union, His Majesty’s Treasury (“HMT”)
or other relevant sanctions authority.


 


“SEC”
means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions.


 


“Secured Cash
Management Agreement” means any Cash Management Agreement between the any Loan Party and any of its Subsidiaries and any
Cash Management Bank.


 


“Secured Hedge
Agreement” means any interest rate, currency, foreign exchange, or commodity Swap Contract required by or not prohibited
under Article VI or VII between any Loan Party and any of its Subsidiaries and any Hedge Bank.


 


“Secured Obligations”
means all Obligations and all Additional Secured Obligations.


 


“Secured Parties”
means, collectively, the Administrative Agent, the Lenders, the L/C Issuer, the Hedge Banks, the Cash Management Banks, the Indemnitees
and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.05.


 


“Secured Party
Designation Notice” means a notice from any Lender or an Affiliate of a Lender substantially in the form of Exhibit H.


 


“Securities Act”
means the Securities Act of 1933, including all amendments thereto and regulations promulgated thereunder.


 


“Security Agreement”
means the security and pledge agreement, dated as of the Closing Date, executed in favor of the Administrative Agent by each of the Loan
Parties.


 


“Shareholder Redemption
Notes” means any Subordinated Indebtedness in the form of promissory notes issued by Borrower as consideration for the redemption
of all or a portion of one or more shareholder’s Equity Interests in Borrower.


 






    28


     


    

 


“Shareholders’
Equity” means, as of any date of determination, consolidated shareholders’ equity of the Borrower and its Subsidiaries
as of such date, determined in accordance with GAAP.


 


“Social Security
Act” means the Social Security Act of 1965.


 


“SOFR”
means the Secured Overnight Financing Rate as administered by the Federal Reserve Bank of New York (or a successor administrator).


 


“SOFR Adjustment”
with respect to Term SOFR means 0.10% (10 basis points) for an Interest Period of one-month’s duration, 0.15% (15 basis points)
for an Interest Period of three-month’s duration, and 0.25% (25 basis points) for an Interest Period of six-months’ duration.


 


“Solvency Certificate”
means a solvency certificate in substantially in the form of Exhibit I.


 


“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 saleable 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, (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, and (e) such Person is able to pay its debts and liabilities, contingent obligations
and other commitments as they mature in the ordinary course of business. 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.


 


“Specified Loan
Party” means any Loan Party that is not then an “eligible contract participant” under the Commodity Exchange
Act (determined prior to giving effect to Section 10.11).


 


“Specified Permitted
Acquisition” means a Permitted Acquisition, the total consideration (including maximum potential total amount of all deferred
payment obligations (including earn-outs) and Indebtedness assumed or incurred) for which equals or exceeds $50,000,000.


 


“Subordinated
Indebtedness” means any unsecured Indebtedness owing to a Person that is subordinated in right of payment to the prior payment
of the Secured Obligations pursuant to subordination provisions approved in writing by the Administrative Agent in its reasonable discretion,
which Indebtedness shall have interest rates, payment terms, maturities, amortization schedules, covenants, defaults, remedies and other
material terms that are acceptable in form and substance to the Administrative Agent and which subordination provisions shall contain
restrictions on enforcement, restrictions on payment, subordination terms, and other material terms that are reasonably acceptable in
form and substance to the Administrative Agent.


 


“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 Voting Stock is 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 Borrower.


 


“Successor Rate”
has the meaning specified in Section 3.03(b).


 






    29


     


    

 


“Supported QFC”
has the meaning specified in Section 11.21.


 


“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.


 


“Swap Obligations”
means with respect to any Guarantor any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap”
within the meaning of Section 1a(47) of the Commodity Exchange Act.


 


“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).


 


“Swingline Borrowing”
means a borrowing of a Swingline Loan pursuant to Section 2.04.


 


“Swingline Commitment”
means, as to any Lender (a) the amount set forth opposite such Lender’s name on Schedule 2.01 hereof or (b) if such Lender
has entered into an Assignment and Assumption or has otherwise assumed a Swingline Commitment after the Closing Date, the amount set forth
for such Lender as its Swingline Commitment in the Register maintained by the Administrative Agent pursuant to Section 11.06(c).
The Swingline Commitment of the Swingline Lender may be modified from time to time by agreement between the Swingline Lender and the Borrower,
and notified to the Administrative Agent.


 


“Swingline Lender”
means Citibank, in its capacity as provider of Swingline Loans, or any successor swingline lender hereunder.


 


“Swingline Loan”
has the meaning specified in Section 2.04(a).


 


“Swingline Loan
Notice” means a notice of a Swingline Borrowing pursuant to Section 2.04(b), which shall be substantially in
the form of Exhibit J or such other form as approved by the Administrative Agent (including any form on an electronic platform
or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible
Officer of the Borrower.


 


“Swingline Sublimit”
means an amount equal to the lesser of (a) $15,000,000 and (b) the Revolving Facility. The Swingline Sublimit is part of, and
not in addition to, the Revolving Facility.


 






    30


     


    

 


“Synthetic Debt”
means, with respect to any Person as of any date of determination thereof, all obligations of such Person in respect of transactions entered
into by such Person that are intended to function primarily as a borrowing of funds but are not otherwise included in the definition of
“Indebtedness” or as a liability on the Consolidated balance sheet of such Person and its Subsidiaries in accordance with
GAAP.


 


“Synthetic Lease
Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention
lease, or (b) an agreement for the use or possession of property (including Sale and Leaseback Transactions), in each case, creating
obligations that do not appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such Person,
would be characterized as the indebtedness of such Person (without regard to accounting treatment).


 


“Target”
has the meaning set forth in the definition of “Permitted Acquisition.”


 


“Taxes”
means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees
or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.


 


“Tennessee Subsidiary”
means Ambulnz TN, LLC, a Tennessee limited liability company.


 


“Term SOFR” means:


 


(a) for
any Interest Period with respect to a Term SOFR Loan, the rate per annum equal to the Term SOFR Screen Rate on the day (such day, the
“Periodic Term SOFR Determination Day”) that is two U.S. Government Securities Business Days prior to the commencement
of such Interest Period with a term equivalent to such Interest Period; provided that if the rate is not published prior to 5:00 p.m.
on such determination date then Term SOFR means the Term SOFR Screen Rate on the first U.S. Government Securities Business Day immediately
prior thereto so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities
Business Days prior to such Periodic Term SOFR Determination Day, in each case, plus the SOFR Adjustment for such Interest Period;
and


 


(b) for
any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the Term SOFR Screen Rate with a term
of one month commencing that day;


 


provided that if the
Term SOFR determined in accordance with either of the foregoing provisions (a) or (b) of this definition would otherwise be less than
zero, the Term SOFR shall be deemed zero for purposes of this Agreement.


 


“Term SOFR Loan”
means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.


 


“Term SOFR Screen
Rate” means the forward-looking SOFR term rate administered by CME (or any successor administrator satisfactory to the Administrative
Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may
be designated by the Administrative Agent from time to time).


 


“Threshold Amount”
means $10,000,000.


 


“Total Revolving
Exposure” means, as to any Revolving Lender at any time, the unused Commitments and Revolving Exposure of such Revolving
Lender at such time.


 






    31


     


    

 


“Total Revolving
Outstandings” means the aggregate Outstanding Amount of all Revolving Loans, Swingline Loans and L/C Obligations.


 


“Trade Date”
has the meaning specified in Section 11.06(b)(i).


 


“Type”
means, with respect to a Loan, its character as a Base Rate Loan or a Term SOFR Loan.


 


“UCC”
means the Uniform Commercial Code as in effect in the State of New York; provided that, if perfection or the effect of perfection
or non-perfection or the priority of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect in
a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code as in effect from time
to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection
or priority.


 


“UK Financial
Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated
by the United Kingdom Prudential Regulation Authority) or any person subject to IFPRU 11.6 of the FCA Handbook (as amended from time to
time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms,
and certain affiliates of such credit institutions or investment firms.


 


“UK Resolution
Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution
of any UK Financial Institution.


 


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


 


“Unreimbursed
Amount” has the meaning specified in Section 2.03(f).


 


“Unrestricted
Cash” means, as of any date of determination, an aggregate amount equal to the lesser of (a) 50% of Consolidated EBITDA
for the most recently completed four (4) fiscal quarters of the Borrower for which financial statements have been delivered pursuant to
Section 6.01 and (b) the aggregate amount of domestic cash and Cash Equivalents of the Borrower and its Domestic Subsidiaries that
(i) do not appear (and are not required to appear) as “restricted” on the consolidated balance sheet of the Borrower (unless
such appearance is related to the Liens granted to the Administrative Agent to secure the Secured Obligations), (ii) are not subject to
any Lien other than in favor of any person other than (A) the Administrative Agent and (B) bankers’ liens arising in connection
with depository relations or securities accounts entered into in the ordinary course of business and (iii) are otherwise generally available
for use by the Borrower and its Subsidiaries, in each case, solely to the extent any such cash and Cash Equivalents are (or would be)
included on the balance sheet of the Borrower, in each case, as of such date of determination.


 


“U.S. Government
Securities Business Day” means any Business Day, except any Business Day on which any of the Securities Industry and Financial
Markets Association, the New York Stock Exchange or the Federal Reserve Bank of New York is not open for business because such day is
a legal holiday under the federal laws of the United States or the laws of the State of New York, as applicable.


 


“U.S.
Loan Party” means any Loan Party that is organized under the laws of the United States, any state thereof or the District
of Columbia.


 


“U.S.
Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.


 






    32


     


    

 


“U.S. Special
Resolution Regimes” has the meaning specified in Section 11.21.


 


“U.S.
Tax Compliance Certificate” has the meaning specified in Section 3.01(f)(ii)(B)(3).


 


“Voting Stock”
means, with respect to any Person, Equity Interests issued by such Person the holders of which are ordinarily, in the absence of contingencies,
entitled to vote for the election of directors (or persons performing similar functions) of such Person, even though the right to so vote
has been suspended by the happening of such contingency.


 


“Write-Down
and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers
of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any
UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into
shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect
as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In
Legislation that are related to or ancillary to any of those powers.


 


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
definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require,
any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes”
and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will”
shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any
definition of or reference to any agreement, instrument or other document (including the Loan Documents and any Organization Document)
shall be construed as referring to such agreement, instrument or other document as from time to time amended, amended and restated, modified,
extended, restated, replaced or supplemented from time to time (subject to any restrictions on such amendments, supplements or modifications
set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s
successors and assigns, (iii) the words “hereto,” “herein,” “hereof” and “hereunder,”
and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not
to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Preliminary Statements, Exhibits
and Schedules shall be construed to refer to Articles and Sections of, and Preliminary Statements, Exhibits and Schedules to, the Loan
Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory rules, regulations,
orders and provisions consolidating, amending, replacing or interpreting such law and any reference to any law, rule or regulation shall,
unless otherwise specified, refer to such law, rule or regulation as amended, modified, extended, restated, replaced or supplemented from
time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and effect
and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.


 






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(b) 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.”


 


(c) 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.


 


(d) Any
reference herein to a merger, transfer, consolidation, amalgamation, assignment, sale, disposition or transfer, or similar term, shall
be deemed to apply to a division of or by a limited liability company, or an allocation of assets to a series of a limited liability company
(or the unwinding of such a division or allocation), as if it were a merger, transfer, consolidation, amalgamation, assignment, sale,
disposition or transfer, or similar term, as applicable, to, of or with a separate Person. Any division of a limited liability company
shall constitute a separate Person hereunder (and each division of any limited liability company that is a Subsidiary, joint venture or
any other like term shall also constitute such a Person or entity).


 


1.03 Accounting
Terms.


 


(a) Generally.
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 on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the
Audited Financial Statements, except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining
compliance with any covenant (including the computation of any financial covenant) contained herein, (i) Indebtedness of the Borrower
and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825
and FASB ASC 470–20 on financial liabilities shall be disregarded, (ii) any determinations of whether any lease constitutes a capital
lease or an operating lease, and any related determinations with respect to compliance with the covenants and other terms and conditions
of this Agreement and the other Loan Documents shall be made on a basis consistent with that reflected in the Audited Financial Statements
delivered in connection with the Closing Date, without regard to any classification or reclassification as financing or operating leases
upon the Borrower’s adoption of leasing standard Accounting Standards Codification 842 and (iii) all terms of an accounting or financial
nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect
to any election under FASB ASC Topic 825 “Financial Instruments” (or any other financial accounting standard having a similar
result or effect) to value any Indebtedness of the Borrower or any Subsidiary at “fair value”, as defined therein. For purposes
of determining the amount of any outstanding Indebtedness, no effect shall be given to any election by the Borrower to measure an item
of Indebtedness using fair value (as permitted by Financial Accounting Standards Board Accounting Standards Codification 825–10–25
(formerly known as FASB 159) or any similar accounting standard).


 


(b) Changes
in GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan
Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall
negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject
to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to
be computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent
and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth
a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.


 






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(c) Pro
Forma Treatment. Each Disposition of all or substantially all of a line of business, and each Acquisition, by the Borrower and its
Subsidiaries that is consummated during any Measurement Period shall, for purposes of determining compliance with the financial covenants
set forth in Section 7.11 and for purposes of determining the Applicable Rate, be given Pro Forma Effect as of the first day of
such Measurement Period.


 


1.04 Rounding.


 


Any financial ratios required
to be maintained by the Borrower pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component,
carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or
down to the nearest number (with a rounding-up if there is no nearest number).


 


1.05 Times
of Day.


 


Unless otherwise specified,
all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable).


 


1.06 Letter
of Credit Amounts.


 


Unless otherwise specified
herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such
time; provided that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto,
provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the
maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is
in effect at such time.


 


1.07 Interest
Rates.


 


The Administrative Agent does
not warrant, nor accept responsibility, nor shall the Administrative Agent have any liability with respect to the administration, submission
or any other matter related to any reference rate referred to herein or with respect to any rate (including, for the avoidance of doubt,
the selection  of such rate and any related spread or other adjustment) that is an alternative or replacement for or successor to
any such rate (including, without limitation, any Successor Rate) (or any component of any of the foregoing) or the effect of any of the
foregoing, or of any Conforming Changes. The Administrative Agent and its affiliates or other related entities may engage in transactions
or other activities that affect any reference rate referred to herein, or any alternative, successor or replacement rate (including, without
limitation, any Successor Rate) (or any component of any of the foregoing) or any related spread or other adjustments thereto, in each
case, in a manner adverse to the Borrower.  The Administrative Agent may select information sources or services in its reasonable
discretion to ascertain any reference rate referred to herein or any alternative, successor or replacement rate (including, without limitation,
any Successor Rate) (or any component of any of the foregoing), in each case pursuant to the terms of this Agreement, and shall
have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special,
punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or
in equity), for any error or other action or omission related to or affecting the selection, determination, or calculation of any rate
(or component thereof) provided by any such information source or service.


 






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1.08 UCC
Terms.


 


Terms defined in the UCC in
effect on the Closing Date and not otherwise defined herein shall, unless the context otherwise indicates, have the meanings provided
by those definitions. Subject to the foregoing, the term “UCC” refers, as of any date of determination, to the UCC then in
effect.


 


Article
II



COMMITMENTS AND CREDIT EXTENSIONS


 


2.01 Loans.


 


Subject to the terms and conditions
set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”)
to the Borrower, in Dollars, from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed
at any time outstanding the amount of such Lender’s Revolving Commitment; provided that after giving effect to any Revolving
Borrowing, (i) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (ii) the Revolving Exposure of
any Lender shall not exceed such Revolving Lender’s Revolving Commitment. Within the limits of each Revolving Lender’s Revolving
Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow Revolving Loans, prepay under Section 2.05,
and reborrow under this Section 2.01. Revolving Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein; provided
that any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made
as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of
such Revolving Borrowing.


 


2.02 Borrowings,
Conversions and Continuations of Loans.


 


(a) Notice
of Borrowing. Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Term SOFR Loans shall
be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone or (B) a Loan
Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Loan Notice.
Each such Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three (3) U.S. Government Securities
Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Term SOFR Loans or of any conversion of
Term SOFR Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans; provided that if the Borrower
wishes to request Term SOFR Loans having an Interest Period other than one, three or six months in duration as provided in the definition
of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four (4)
Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give
prompt notice to the Appropriate Lenders of such request and determine whether the requested Interest Period is acceptable to all of them.
Not later than 11:00 a.m., three (3) Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative
Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to
by all the Appropriate Lenders and the Administrative Agent. Each Borrowing of, conversion to or continuation of Term SOFR Loans shall
be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(f)
and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple
of $100,000 in excess thereof. Each Loan Notice shall specify (i) whether the Borrower is requesting a Borrowing, a conversion of Loans
from one Type to the other, or a continuation of Term SOFR Loans, (ii) the requested date of the Borrowing, conversion or continuation,
as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the
Type of Loans to be borrowed or to which existing Loans are to be converted, 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 Loan Notice or if the Borrower fails to give a timely notice
requesting a conversion or continuation, then the applicable 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
Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Loans in any such Loan Notice, but fails to specify
an Interest Period, it will be deemed to have specified an Interest Period of one month.


 






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(b) Advances.
Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable Percentage
of the applicable 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 described in the preceding subsection. In the case
of a Borrowing, each Lender shall make the amount of its Loan available to the Administrative Agent in immediately available funds at
the Administrative Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Loan Notice. Upon satisfaction
of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01),
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) wire transfer of such funds to the deposit account maintained by the Borrower with Bank of America 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 Loan Notice with respect to such Borrowing is given by the Borrower, there are L/C
Borrowings outstanding, then the proceeds of such Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings,
and second, shall be made available to the Borrower as provided above.


 


(c) Term
SOFR Loans. Except as otherwise provided herein, a Term SOFR Loan may be continued or converted only on the last day of an Interest
Period for such Term SOFR Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Term SOFR
Loans without the consent of the Required Lenders.


 


(d) Interest
Rates. The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest
Period for Term SOFR Loans upon determination of such interest rate.


 


(e) Interest
Periods. After giving effect to all Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans
as the same Type, there shall not be more than six Interest Periods in effect with respect to Loans.


 


(f) Cashless
Settlement Mechanism. Notwithstanding anything to the contrary in this Agreement, any Lender may exchange, continue or rollover all
of the portion of its Loans in connection with any refinancing, extension, loan modification or similar transaction permitted by the terms
of this Agreement, pursuant to a cashless settlement mechanism approved by the Borrower, the Administrative Agent, and such Lender.


 






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(g) Conforming
Changes. With respect to SOFR or Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time
and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes
will become effective without any further action or consent of any other party to this Agreement or any other Loan Document; provided
that, with respect to any such amendment effected, the Administrative Agent shall post each such amendment implementing such Conforming
Changes to the Borrower and the Lenders reasonably promptly after such amendment becomes effective.


 


2.03 Letters
of Credit.


 


(a) The
Letter of Credit Commitment. Subject to the terms and conditions set forth herein, in addition to the Loans provided for in Section
2.01, the Borrower may request that the L/C Issuer, in reliance on the agreements of the Revolving Lenders set forth in this Section
2.03, issue, at any time and from time to time during the Availability Period, Letters of Credit for its own account or the account
of any of its Subsidiaries in such form as is acceptable to the Administrative Agent and the L/C Issuer in its reasonable determination.
Letters of Credit issued hereunder shall constitute utilization of the Revolving Commitments.


 


(b) Notice
of Issuance, Amendment, Extension, Reinstatement or Renewal.


 


(i) To
request the issuance of a Letter of Credit (or the amendment of the terms and conditions, extension of the terms and conditions, extension
of the expiration date, or reinstatement of amounts paid, or renewal of an outstanding Letter of Credit), the Borrower shall deliver (or
transmit by electronic communication, if arrangements for doing so have been approved by the L/C Issuer) to the L/C Issuer and to the
Administrative Agent not later than 11:00 a.m. at least two (2) Business Days (or such later date and time as the Administrative Agent
and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment,
as the case may be a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, extended,
reinstated or renewed, and specifying the date of issuance, amendment, extension, reinstatement or renewal (which shall be a Business
Day), the date on which such Letter of Credit is to expire (which shall comply with clause (d) of this Section 2.03),
the amount of such Letter of Credit, the name and address of the beneficiary thereof, the purpose and nature of the requested Letter of
Credit and such other information as shall be necessary to prepare, amend, extend, reinstate or renew such Letter of Credit. If requested
by the L/C Issuer, the Borrower also shall submit a letter of credit application and reimbursement agreement on the L/C Issuer’s
standard form in connection with any request for a Letter of Credit. In the event of any inconsistency between the terms and conditions
of this Agreement and the terms and conditions of any form of letter of credit application and reimbursement agreement or other agreement
submitted by the Borrower to, or entered into by the Borrower with, the L/C Issuer relating to any Letter of Credit, the terms and conditions
of this Agreement shall control.


 


(c) Limitations
on Amounts, Issuance and Amendment. A Letter of Credit shall be issued, amended, extended, reinstated or renewed only if (and upon
issuance, amendment, extension, reinstatement or renewal of each Letter of Credit the Borrower shall be deemed to represent and warrant
that), after giving effect to such issuance, amendment, extension, reinstatement or renewal (w) the aggregate amount of the outstanding
Letters of Credit issued by the L/C Issuer shall not exceed its L/C Commitment, (x) the aggregate L/C Obligations shall not exceed
the L/C Sublimit, (y) the Revolving Exposure of any Lender shall not exceed its Revolving Commitment and (z) the Total Revolving
Exposure shall not exceed the total Revolving Commitments.


 






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(i) The
L/C Issuer shall not be under any 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 the L/C Issuer
from issuing the Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force
of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from,
the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon the L/C Issuer with respect to
the Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder)
not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not applicable
on the Closing Date and which the L/C Issuer in good faith deems material to it;


 


(B) the
issuance of such Letter of Credit would violate one or more policies of the L/C Issuer applicable to letters of credit generally;


 


(C) except
as otherwise agreed by the Administrative Agent and the L/C Issuer, the Letter of Credit is in an initial stated amount less than $500,000;


 


(D) any
Revolving Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the delivery of Cash
Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate the L/C Issuer’s
actual or potential Fronting Exposure (after giving effect to Section 2.15(a)(iv)) with respect to the Defaulting Lender arising
from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which the L/C
Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion; or


 


(E) the
Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder.


 


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


 


(d) Expiration
Date. Each Letter of Credit shall have a stated expiration date no later than the earlier of (ix) the date twelve (12) months
after the date of the issuance of such Letter of Credit (or, in the case of any extension of the expiration date thereof, whether automatic
or by amendment, twelve months after the then-current expiration date of such Letter of Credit) and (x) the date that is five (5)
Business Days prior to the Maturity Date; provided that upon the Borrower’s request, any such Letter of Credit which is issued in
the final year prior to the Maturity Date may have an expiration date after the Maturity Date if the Borrower deposits into the Collateral
Account an amount in cash equal to 103% of such L/C Obligations as of such date or if such Letter of Credit is covered by a standby letter
of credit five (5) Business Days prior to the Maturity Date.


 






    39


     


    

 


(e) Participations.


 


(i) By
the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount or extending the expiration date thereof),
and without any further action on the part of the L/C Issuer or the Lenders, the L/C Issuer hereby grants to each Revolving Lender, and
each Revolving Lender hereby acquires from the L/C Issuer, a participation in such Letter of Credit equal to such Lender’s Applicable
Percentage of the aggregate amount available to be drawn under such Letter of Credit. Each Revolving Lender acknowledges and agrees that
its obligation to acquire participations pursuant to this clause (e) in respect of Letters of Credit is absolute, unconditional
and irrevocable and shall not be affected by any circumstance whatsoever, including any amendment, extension, reinstatement or renewal
of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Revolving Commitments.


 


(ii) In
consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely, unconditionally and irrevocably agrees to
pay to the Administrative Agent, for account of the L/C Issuer, such Lender’s Applicable Percentage of each L/C Disbursement made
by the L/C Issuer not later than 1:00 p.m. on the Business Day specified in the notice provided by the Administrative Agent to the Revolving
Lenders pursuant to Section 2.03(f) until such L/C Disbursement is reimbursed by the Borrower or at any time after any reimbursement
payment is required to be refunded to the Borrower for any reason, including after the Maturity Date. Such payment shall be made without
any offset, abatement, withholding or reduction whatsoever. Each such payment shall be made in the same manner as provided in Section 2.02
with respect to Loans made by such Lender (and Section 2.02 shall apply, mutatis mutandis, to the payment obligations
of the Revolving Lenders pursuant to this Section 2.03), and the Administrative Agent shall promptly pay to the L/C Issuer the
amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant
to Section 2.03(f), the Administrative Agent shall distribute such payment to the L/C Issuer or, to the extent that the Revolving
Lenders have made payments pursuant to this clause (e) to reimburse the L/C Issuer, then to such Lenders and the L/C Issuer as
their interests may appear. Any payment made by a Lender pursuant to this clause (e) to reimburse the L/C Issuer for any L/C Disbursement
shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such L/C Disbursement.


 


(iii) Each
Revolving Lender further acknowledges and agrees that its participation in each Letter of Credit will be automatically adjusted to reflect
such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit at each time such
Lender’s Commitment is amended pursuant to the operation of Section 2.16, as a result of an assignment in accordance
with Section 11.06 or otherwise pursuant to this Agreement.


 


(iv) If
any Revolving Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required to be paid
by such Lender pursuant to the foregoing provisions of this Section 2.03(e), then, without limiting the other provisions of this
Agreement, the 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 available
to the L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the L/C Issuer in
accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily
charged by the L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the
amount so paid shall constitute such Lender’s Revolving Loan included in the relevant Revolving Borrowing or L/C Advance in respect
of the relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to any Revolving Lender (through the Administrative
Agent) with respect to any amounts owing under this clause (e)(iv) shall be conclusive absent manifest error.


 






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(f) Reimbursement.
If the L/C Issuer shall make any L/C Disbursement in respect of a Letter of Credit, the Borrower shall reimburse the L/C Issuer in respect
of such L/C Disbursement by paying to the Administrative Agent an amount equal to such L/C Disbursement not later than 12:00 noon on (i)
the Business Day that the Borrower receives notice of such L/C Disbursement, if such notice is received prior to 10:00 a.m. or (ii) the
Business Day immediately following the day that the Borrower receives such notice, if such notice is not received prior to such time,
provided that, if such L/C Disbursement is not less than $1,000,000, the Borrower may, subject to the conditions to borrowing set forth
herein, request in accordance with Section 2.02 or Section 2.04 that such payment be financed with a Borrowing of Base Rate
Loans or Swingline Loan in an equivalent amount and, to the extent so financed, the Borrower’s obligation to make such payment shall
be discharged and replaced by the resulting Borrowing of Base Rate Loans or Swingline Loan. If the Borrower fails to make such payment
when due, the Administrative Agent shall notify each Revolving Lender of the applicable L/C Disbursement, the payment then due from the
Borrower in respect thereof (the “Unreimbursed Amount”) and such Lender’s Applicable Percentage thereof.
Promptly upon receipt of such notice, each Revolving Lender shall pay to the Administrative Agent its Applicable Percentage of the Unreimbursed
Amount pursuant to Section 2.03(e)(ii), subject to the amount of the unutilized portion of the aggregate Revolving Commitments.
Any notice given by the L/C Issuer or the Administrative Agent pursuant to this Section 2.03(f) 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.


 


(g) Obligations
Absolute. The Borrower’s obligation to reimburse L/C Disbursements as provided in clause (f) of this Section 2.03
shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under
any and all circumstances whatsoever and irrespective of:


 


(i) any
lack of validity or enforceability of this Agreement, any other Loan Document or any Letter of Credit, or any term or provision herein
or therein;


 


(ii) the
existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any Subsidiary 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 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;


 


(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 in such draft or other document being untrue or inaccurate in any respect;


 


(iv) waiver
by the L/C Issuer of any requirement that exists for the L/C Issuer’s protection and not the protection of the Borrower or any waiver
by the L/C Issuer which does not in fact materially prejudice the Borrower;


 






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(v) honor
of a demand for payment presented electronically even if such Letter of Credit required that demand be in the form of a draft;


 


(vi) any
payment made by the L/C Issuer in respect of an otherwise complying item presented after the date specified as the expiration date of,
or the date by which documents must be received under such Letter of Credit if presentation after such date is authorized by the UCC or
the ISP, as applicable;


 


(vii) payment
by the L/C Issuer under a Letter of Credit against presentation of a draft or other document that does not comply strictly with the terms
of such Letter of Credit; or


 


(viii) any
other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section
2.03, constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder.


 


(h) Examination.
The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event
of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will immediately notify the L/C
Issuer. The Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such
notice is given as aforesaid.


 


(i) Liability.
None of the Administrative Agent, the Lenders, the L/C Issuer, or any of their Related Parties shall have any liability or responsibility
by reason of or in connection with the issuance or transfer of any Letter of Credit by the L/C Issuer or any payment or failure to make
any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption,
loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including
any document required to make a drawing thereunder), any error in interpretation of technical terms, any error in translation or any consequence
arising from causes beyond the control of the L/C Issuer; provided that the foregoing shall not be construed to excuse the L/C
Issuer from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which
are hereby waived by the Borrower to the extent permitted by Applicable Law) suffered by the Borrower that are caused by the L/C Issuer’s
failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms
thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the L/C Issuer
(as finally determined by a court of competent jurisdiction), the L/C Issuer shall be deemed to have exercised care in each such determination,
and that:


 


(i) the
L/C Issuer may replace a purportedly lost, stolen, or destroyed original Letter of Credit or missing amendment thereto with a certified
true copy marked as such or waive a requirement for its presentation;


 


(ii) the
L/C Issuer may accept documents that appear on their face to be in substantial compliance with the terms of a Letter of Credit without
responsibility for further investigation, regardless of any notice or information to the contrary, and may make payment upon presentation
of documents that appear on their face to be in substantial compliance with the terms of such Letter of Credit and without regard to any
non-documentary condition in such Letter of Credit;


 






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(iii) the
L/C Issuer shall have the right, in its sole discretion, to decline to accept such documents and to make such payment if such documents
are not in strict compliance with the terms of such Letter of Credit; and


 


(iv) this
sentence shall establish the standard of care to be exercised by the L/C Issuer when determining whether drafts and other documents presented
under a Letter of Credit comply with the terms thereof (and the parties hereto hereby waive, to the extent permitted by Applicable Law,
any standard of care inconsistent with the foregoing).


 


Without limiting the
foregoing, none of the Administrative Agent, the Lenders, the L/C Issuer, or any of their Related Parties shall have any liability or
responsibility by reason of (A) any presentation that includes forged or fraudulent documents or that is otherwise affected by the
fraudulent, bad faith, or illegal conduct of the beneficiary or other Person, (B) the L/C Issuer declining to take-up documents and
make payment, (C) against documents that are fraudulent, forged, or for other reasons by which that it is entitled not to honor,
(D) following a Borrower’s waiver of discrepancies with respect to such documents or request for honor of such documents or
(E) the L/C Issuer retaining proceeds of a Letter of Credit based on an apparently applicable attachment order, blocking regulation,
or third-party claim notified to the L/C Issuer.


 


(j) Applicability
of ISP. Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued by it, the rules of
the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, the L/C Issuer shall not be responsible to the Borrower for,
and the L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the L/C Issuer
required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement,
including the Law or any order of a jurisdiction where the L/C Issuer or the beneficiary is located, the practice stated in the ISP or
UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers
Association for Finance and Trade – International Financial Services Association (BAFT-IFSA), or the Institute of International
Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.


 


(k) Benefits.
The 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 the L/C Issuer shall have all of the benefits and immunities (i) provided to the Administrative Agent in Article IX with respect
to any acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by
it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article
IX included the L/C Issuer with respect to such acts or omissions, and (ii) as additionally provided herein with respect to the L/C
Issuer.


 


(l) Letter
of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Revolving Lender in accordance with its
Applicable Revolving Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit
equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit. For purposes of computing
the daily amount available to be drawn under any standby Letter of Credit, the amount of such Letter of Credit shall be determined in
accordance with Section 1.06. Letter of Credit Fees shall be (i) payable on the first Business Day following 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 and (ii) accrued
through and including the last day of each calendar quarter in arrears. If there is any change in the Applicable Rate during any quarter,
the daily amount available to be drawn under 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. Notwithstanding anything to the contrary contained herein,
upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.


 






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(m) Fronting
Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrower shall pay directly to the L/C Issuer for its own account
a fronting fee with respect to each Letter of Credit, at the rate per annum equal to 0.125%, computed on the daily amount available to
be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable no later than the tenth
Business Day after the end of each March, June, September and December in the most recently- ended quarterly period (or portion thereof,
in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Maturity
Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount
of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrower shall
pay directly to the L/C Issuer, for its own account, the customary issuance, presentation, amendment and other processing fees,
and other standard costs and charges, of the 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 on demand and are nonrefundable.


 


(n) Disbursement
Procedures. The L/C Issuer for any Letter of Credit shall, within the time allowed by Applicable Laws or the specific terms of the
Letter of Credit following its receipt thereof, examine all documents purporting to represent a demand for payment under such Letter of
Credit. The L/C Issuer shall promptly after such examination notify the Administrative Agent and the Borrower in writing of such demand
for payment if the L/C Issuer has made or will make an L/C Disbursement thereunder; provided that any failure to give or delay
in giving such notice shall not relieve the Borrower of its obligation to reimburse the L/C Issuer and the Lenders with respect to any
such L/C Disbursement.


 


(o) Interim
Interest. If the L/C Issuer for any standby Letter of Credit shall make any L/C Disbursement, then, unless the Borrower shall reimburse
such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from
and including the date such L/C Disbursement is made to but excluding the date that the Borrower reimburses such L/C Disbursement, at
the rate per annum then applicable to Base Rate Loans; provided that if the Borrower fails to reimburse such L/C Disbursement when
due pursuant to clause (f) of this Section 2.03, then Section 2.08(b) shall apply. Interest accrued pursuant
to this clause (p) shall be for account of the L/C Issuer, except that interest accrued on and after the date of payment by any
Lender pursuant to clause (f) of this Section 2.03 to reimburse the L/C Issuer shall be for account of such Lender
to the extent of such payment.


 


(p) Replacement
of the L/C Issuer. The L/C Issuer may be replaced at any time by written agreement between the Borrower, the Administrative Agent,
the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of the
L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of
the replaced L/C Issuer pursuant to Section 2.03(m). From and after the effective date of any such replacement, (i) the
successor L/C Issuer shall have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit
to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to include such successor
or any previous L/C Issuer, or such successor and all previous L/C Issuer, as the context shall require. After the replacement of the
L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of
an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required
to issue additional Letters of Credit.


 






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(q) Cash
Collateralization.


 


(i) If
any Event of Default shall occur and be continuing, on the Business Day that the Borrower receives notice from the Administrative Agent
or the Required Lenders (or, if the maturity of the Loans has been accelerated, Revolving Lenders with L/C Obligations representing at
least 66-2/3% of the total L/C Obligations) demanding the deposit of Cash Collateral pursuant to this clause (q), the Borrower
shall immediately deposit into an account established and maintained on the books and records of the Administrative Agent (the “Collateral
Account”) an amount in cash equal to 103% of the total L/C Obligations as of such date plus any accrued and unpaid
interest thereon, provided that the obligation to deposit such Cash Collateral shall become effective immediately, and such deposit
shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with
respect to the Borrower described in clause (f) of Section 8.01. Such deposit shall be held by the Administrative
Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement. In addition, and without
limiting the foregoing or clause (d) of this Section 2.03, if any L/C Obligations remain outstanding after the expiration
date specified in said clause (d), the Borrower shall immediately deposit into the Collateral Account an amount in cash equal
to 103% of such L/C Obligations as of such date plus any accrued and unpaid interest thereon.


 


(ii) The
Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over the Collateral Account.
Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of
the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if
any, on such investments shall accumulate in the Collateral Account. Moneys in the Collateral Account shall be applied by the Administrative
Agent to reimburse the L/C Issuer for L/C Disbursements for which it has not been reimbursed, together with related fees, costs, and customary
processing charges, and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower
for the L/C Obligations at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders with
L/C Obligations representing 66-2/3% of the total L/C Obligations), be applied to satisfy other obligations of the Borrower under this
Agreement. If the Borrower is required to provide an amount of Cash Collateral hereunder as a result of the occurrence of an Event of
Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after all
Events of Default have been cured or waived.


 


(r) Letters
of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations
of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse, indemnify and compensate the L/C Issuer hereunder
for any and all drawings under such Letter of Credit as if such Letter of Credit had been issues solely for the account of the Borrower.
The Borrower irrevocably waives any and all defenses that might otherwise be available to it as a guarantor or surety of any or all of
the obligations of such Subsidiary in respect of such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters
of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial
benefits from the businesses of such Subsidiaries.


 



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(s) Conflict
with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof
shall control.


 


2.04 Swingline
Loans.


 


(a) The
Swingline. Subject to the terms and conditions set forth herein, the Swingline Lender, in reliance upon the agreements of the other
Lenders set forth in this Section 2.04, may in its sole discretion make loans to the Borrower (each such loan, a “Swingline
Loan”). Each such Swingline Loan may be made, subject to the terms and conditions set forth herein, to the Borrower, in
Dollars, from time to time on any Business Day during the Availability Period in an aggregate amount not to exceed at any time outstanding
the amount of the Swingline Sublimit; provided that (i) after giving effect to any Swingline Loan, (A) the Total Revolving
Outstandings shall not exceed the Revolving Facility at such time, (B) the Revolving Exposure of any Revolving Lender at such time
shall not exceed such Lender’s Revolving Commitment and (C) the aggregate amount of all Swingline Loans outstanding shall not exceed
the Swingline Commitment of the Swingline Lender, (ii) the Borrower shall not use the proceeds of any Swingline Loan to refinance
any outstanding Swingline Loan, and (iii) the Swingline Lender shall not be under any obligation to make any Swingline Loan if it
shall determine (which determination shall be conclusive and binding absent manifest error) that it has, or by such Credit Extension may
have, Fronting Exposure. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under
this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04. Each Swingline Loan shall bear
interest only at a rate based on the Base Rate plus the Applicable Rate. Immediately upon the making of a Swingline Loan, each Revolving
Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swingline Lender a risk participation
in such Swingline Loan in an amount equal to the product of such Revolving Lender’s Applicable Revolving Percentage times the amount
of such Swingline Loan.


 


(b) Borrowing
Procedures. Each Swingline Borrowing shall be made upon the Borrower’s irrevocable notice to the Swingline Lender and the Administrative
Agent, which may be given by: (i) telephone or (ii) a Swingline Loan Notice; provided that any telephonic notice must be confirmed
immediately by delivery to the Swingline Lender and the Administrative Agent of a Swingline Loan Notice. Each such Swingline Loan Notice
must be received by the Swingline Lender and the Administrative Agent not later than 1:00 p.m. on the requested borrowing date, and shall
specify (A) the amount to be borrowed, which shall be a minimum of $250,000, and (B) the requested date of the Borrowing (which
shall be a Business Day). Promptly after receipt by the Swingline Lender of any Swingline Loan Notice, the Swingline Lender will confirm
with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swingline Loan Notice
and, if not, the Swingline Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the
Swingline Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Revolving
Lender) prior to 2:00 p.m. on the date of the proposed Swingline Borrowing (1) directing the Swingline Lender not to make such Swingline
Loan as a result of the limitations set forth in the first proviso to the first sentence of Section 2.04(a), or (2) that one
or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions hereof,
the Swingline Lender may make the amount of its Swingline Loan available to the Borrower at its office by crediting the account of the
Borrower on the books of the Swingline Lender in immediately available funds.


 






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(c) Refinancing
of Swingline Loans.


 


(i) The
Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes
the Swingline Lender to so request on its behalf), that each Revolving Lender make a Base Rate Loan in an amount equal to such Lender’s
Applicable Revolving Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written
request shall be deemed to be a 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 Revolving Facility and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Borrower
with a copy of the applicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Lender shall
make an amount equal to its Applicable Revolving Percentage of the amount specified in such Loan Notice available to the Administrative
Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable
Swingline Loan) for the account of the Swingline Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day
specified in such Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving 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 Swingline Lender.


 


(ii) Notwithstanding
anything to the contrary in the foregoing, if for any reason any Swingline Loan cannot be refinanced by such a Revolving Borrowing in
accordance with Section 2.04(c)(i) (including, without limitation, the failure to satisfy the conditions set forth in Section 4.02),
the request for Base Rate Loans submitted by the Swingline Lender as set forth herein shall be deemed to be a request by the Swingline
Lender that each of the Revolving Lenders fund its risk participation in the relevant Swingline Loan and each Revolving Lender’s
payment to the Administrative Agent for the account of the Swingline Lender pursuant to Section 2.04(c)(i) shall be deemed payment
in respect of such participation.


 


(iii) If
any Revolving Lender fails to make available to the Administrative Agent for the account of the Swingline Lender any amount required to
be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i),
the Swingline Lender shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with
interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the
Swingline Lender at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the Swingline Lender in accordance
with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged
by the Swingline Lender in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount
so paid shall constitute such Lender’s Revolving Loan included in the relevant Revolving Borrowing or funded participation in the
relevant Swingline Loan, as the case may be. A certificate of the Swingline Lender submitted to any Lender (through the Administrative
Agent) with respect to any amounts owing under this clause (c)(iii) shall be conclusive absent manifest error.


 






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(iv) Each
Revolving Lender’s obligation to make Revolving Loans or to purchase and fund risk participations in Swingline 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 Swingline 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 Lender’s obligation to make Revolving
Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 4.02 (other than delivery by the
Borrower of a Loan Notice). No such funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to
repay Swingline Loans, together with interest as provided herein.


 


(d) Repayment
of Participations.


 


(i) At
any time after any Revolving Lender has purchased and funded a risk participation in a Swingline Loan, if the Swingline Lender receives
any payment on account of such Swingline Loan, the Swingline Lender will distribute to such Revolving Lender its Applicable Revolving
Percentage thereof in the same funds as those received by the Swingline Lender.


 


(ii) If
any payment received by the Swingline Lender in respect of principal or interest on any Swingline Loan is required to be returned by the
Swingline Lender under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into
by the Swingline Lender in its discretion), each Revolving Lender shall pay to the Swingline Lender its Applicable Revolving Percentage
thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned,
at a rate per annum equal to the Federal Funds Rate. The Administrative Agent will make such demand upon the request of the Swingline
Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this
Agreement.


 


(e) Interest
for Account of Swingline Lender. The Swingline Lender shall be responsible for invoicing the Borrower for interest on the Swingline
Loans. Until each Revolving Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such
Revolving Lender’s Applicable Revolving Percentage of any Swingline Loan, interest in respect of such Applicable Revolving Percentage
shall be solely for the account of the Swingline Lender.


 


(f) Payments
Directly to Swingline Lender. The Borrower shall make all payments of principal and interest in respect of the Swingline Loans directly
to the Swingline Lender.


 


2.05 Prepayments.


 


(a) Optional.


 


(i) The
Borrower may, upon notice to the Administrative Agent pursuant to delivery to the Administrative Agent of a Notice of Loan Prepayment,
at any time or from time to time voluntarily prepay Loans in whole or in part without premium or penalty; provided that (i) such
notice must be received by the Administrative Agent not later than 11:00 a.m. (A) two (2) Business Days prior to any date of prepayment
of Term SOFR Loans and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment of Term SOFR Loans shall be in a principal
amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof; and (iii) any prepayment of Base Rate Loans shall be in a principal
amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then
outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Term
SOFR Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt
of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the
Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date
specified therein. Any prepayment of any Term SOFR Loan shall be accompanied by all accrued interest on the amount prepaid, together with
any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in
accordance with their respective Applicable Percentages.


 






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(ii) The
Borrower may, upon notice to the Swingline Lender pursuant to delivery to the Swingline Lender of a Notice of Loan Prepayment (with a
copy to the Administrative Agent), at any time or from time to time, voluntarily prepay Swingline Loans in whole or in part without premium
or penalty; provided that, unless otherwise agreed by the Swingline Lender, (A) such notice must be received by the Swingline
Lender and the Administrative Agent not later than 1:00 p.m. on the date of the prepayment, and (B) any such prepayment shall be
in a minimum principal amount of $100,000 or a whole multiple of $100,000 in excess hereof (or, if less, the entire principal thereof
then outstanding). Each such notice shall specify the date and amount 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.


 


(b) Mandatory.


 


(i) Revolving
Outstandings. If for any reason the Total Revolving Outstandings at any time exceed the Revolving Facility at such time, the Borrower
shall immediately prepay Revolving Loans, Swingline Loans and L/C Borrowings and/or Cash Collateralize the L/C Obligations in an aggregate
amount equal to such excess; provided that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant
to this Section 2.05(b) unless, after the prepayment of the Revolving Loans and Swingline Loans, the Total Revolving Outstandings
exceed the Revolving Facility at such time.


 


(ii) Application
of Other Payments. Except as otherwise provided in Section 2.15, prepayments of the Revolving Facility made pursuant to this
Section 2.05(b), first, shall be applied ratably to the L/C Borrowings and the Swingline Loans, second,
shall be applied to the outstanding Revolving Loans, and, third, shall be used to Cash Collateralize the remaining L/C Obligations.
Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as Cash Collateral shall be applied (without
any further action by or notice to or from the Borrower or any other Loan Party or any Defaulting Lender that has provided Cash Collateral)
to reimburse the L/C Issuer or the Revolving Lenders, as applicable.


 


Within the parameters of the
applications set forth above, prepayments pursuant to this Section 2.05(b) shall be applied first to Base Rate Loans and then to
Term SOFR Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section
3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal amount prepaid through the date
of prepayment.


 






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2.06 Termination
or Reduction of Commitments.


 


(a) Optional.
The Borrower may, upon notice to the Administrative Agent, terminate the Revolving Facility, the Letter of Credit Sublimit or the Swingline
Sublimit, or from time to time permanently reduce the Revolving Facility, the Letter of Credit Sublimit or the Swingline Sublimit; provided
that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five (5) Business Days prior to
the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole
multiple of $1,000,000 in excess thereof and (iii) the Borrower shall not terminate or reduce (A) the Revolving Facility if,
after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Revolving Facility,
(B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash Collateralized
hereunder would exceed the Letter of Credit Sublimit, or (C) the Swingline Sublimit if, after giving effect thereto and to any concurrent
prepayments hereunder, the Outstanding Amount of Swingline Loans would exceed the Letter of Credit Sublimit.


 


(b) Mandatory.
If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit
or the Swingline Sublimit exceeds the Revolving Facility at such time, the Letter of Credit Sublimit or the Swingline Sublimit, as the
case may be, shall be automatically reduced by the amount of such excess.


 


(c) Application
of Commitment Reductions; Payment of Fees. The Administrative Agent will promptly notify the Lenders of any termination or reduction
of the Letter of Credit Sublimit, Swingline Sublimit or the Revolving Commitment under this Section 2.06. Upon any reduction of
the Revolving Commitments, the Revolving Commitment of each Revolving Lender shall be reduced by such Lender’s Applicable Revolving
Percentage of such amount reduced from the Revolving Commitments. All fees in respect of the Revolving Facility accrued until the effective
date of any termination of the Revolving Facility shall be paid on the effective date of such termination.


 


2.07 Repayment
of Loans.


 


(a) Revolving
Loans. The Borrower shall repay to the Revolving Lenders on the Maturity Date for the Revolving Facility the aggregate principal amount
of all Revolving Loans outstanding on such date.


 


(b) Swingline
Loans. The Borrower shall repay each Swingline Loan on the earlier to occur of (i) the date ten (10) Business Days after such
Loan is made and (ii) the Maturity Date for the Revolving Facility.


 


2.08 Interest
and Default Rate.


 


(a) Interest.
Subject to the provisions of Section 2.08(b), (i) each Term SOFR Loan shall bear interest on the outstanding principal amount
thereof for each Interest Period from the applicable Borrowing date at a rate per annum equal to the Term SOFR for such Interest Period
plus the Applicable Rate; (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 Swingline 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. To the extent that any calculation of interest or any fee required to be paid under this Agreement shall be based
on (or result in) a calculation that is less than zero, such calculation shall be deemed zero for purposes of this Agreement.


 






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(b) Default
Rate.


 


(i) While
any Event of Default of the type referred to in clause (a), (f) or (g) of Section 8.01 exists, all outstanding
Obligations (including Letter of Credit Fees) shall accrue at a fluctuating interest rate per annum at all times equal to the Default
Rate to the fullest extent permitted by Applicable Laws.


 


(ii) With
respect to any other Event of Default, upon the request of the Required Lenders, while any such Event of Default exists, all outstanding
Obligations (including Letter of Credit Fees) may accrue at a fluctuating interest rate per annum at all times equal to the Default Rate
to the fullest extent permitted by Applicable Laws.


 


(iii) Accrued
and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.


 


(c) Interest
Payments. 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.


 


2.09 Fees.


 


In addition to certain fees
described in Section 2.03:


 


(a) Commitment
Fee. The Borrower shall pay to the Administrative Agent for the account of each Revolving Lender in accordance with its Applicable
Revolving Percentage, a commitment fee equal to the Applicable Rate times the actual daily amount by which the Revolving Facility
exceeds the sum of (i) the Outstanding Amount of Revolving Loans and (ii) the Outstanding Amount of L/C Obligations,
subject to adjustment as provided in Section 2.15. For the avoidance of doubt, the Outstanding Amount of Swingline Loans shall
not be counted towards or considered usage of the Revolving Facility for purposes of determining the commitment fee.


 


(b) Other
Fees.


 


(i) The
Borrower shall pay to the Administrative Agent and the Arranger for its own account fees in the amounts and at the times specified in
the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.


 


(ii) The
Borrower shall pay to the Lenders 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.


 


2.10 Computation
of Interest and Fees; Retroactive Adjustments of Applicable Rate.


 


(a) Computation
of Interest and Fees. All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Term
SOFR) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of
fees and interest shall be made on the basis of a three hundred sixty (360) day year and actual days elapsed (which results in more fees
or interest, as applicable, being paid than if computed on the basis of a 365 day year). 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.


 






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(b) Financial
Statement Adjustments or Restatements. If, as a result of any restatement of or other adjustment to the financial statements of the
Borrower and its Subsidiaries or for any other reason, the Borrower, or the Lenders determine that (i) the Consolidated Net Leverage
Ratio as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Consolidated Net
Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to
pay to the Administrative Agent for the account of the applicable Lenders or the L/C Issuer, as the case may be, promptly on demand by
the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under
the Bankruptcy Code of the United States, automatically and without further action by the Administrative Agent, any Lender or the L/C
Issuer), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of
interest and fees actually paid for such period. This clause (b) shall not limit the rights of the Administrative Agent, any Lender
or the L/C Issuer, as the case may be, under any provision of this Agreement to payment of any Obligations hereunder at the Default Rate
or under Article VIII. The Borrower’s obligations under this clause (b) shall survive the termination of the Aggregate
Commitments and the repayment of all other Obligations hereunder.


 


2.11 Evidence
of Debt.


 


(a) Maintenance
of Accounts. The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender
in the ordinary course of business. The Administrative Agent shall maintain the Register in accordance with Section 11.06(c). The
accounts or records maintained by each Lender shall be conclusive 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 Register, the Register 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, which shall evidence such Lender’s Loans in addition to such accounts or records.
Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and
payments with respect thereto.


 


(b) Maintenance
of Records. 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 evidencing the purchases and sales by such Lender of participations
in Letters of Credit and Swingline 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.


 






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2.12 Payments
Generally; Administrative Agent’s Clawback.


 


(a) General.
All payments to be made by the Borrower shall be made free and clear of and 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 Administrative Agent’s Office in Dollars
and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly distribute
to each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds as received by wire
transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 2:00 p.m. shall be deemed received
on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. Except as otherwise specifically provided
for in this Agreement, 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.


 


(b)           (i) Funding
by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior
to the proposed date of any Borrowing of Term SOFR Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 12:00 noon
on the date of such Borrowing) that such Lender will not make available to the Administrative Agent such Lender’s share of
such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with Section
2.02 (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and
at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower a
corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on
demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such
amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case
of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees
customarily charged by the Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be made
by the Borrower, the interest rate applicable to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the
Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount
of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing to the
Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by
the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such
payment to the Administrative Agent.


 


(ii) Payments
by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the Borrower prior
to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder that the
Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance
herewith and may, in reliance upon such assumption, distribute to the Appropriate Lenders or the L/C Issuer, as the case may be, the amount
due. With respect to any payment that the Administrative Agent makes for the account of the Lenders or the L/C Issuer hereunder as to
which the Administrative Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies
(such payment referred to as the “Rescindable Amount”): (1) the Borrower has not in fact made such payment;
(2) the Administrative Agent has made a payment in excess of the amount so paid by the Borrower (whether or not then owed); or (3) the
Administrative agent has for any reason otherwise erroneously made such payment; then each of the Appropriate Lenders or the L/C Issuer,
as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the Rescindable Amount so distributed to
such Lender or the L/C Issuer, in immediately available funds with interest thereon, for each day from and including the date such amount
is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a
rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.


 






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A notice of the
Administrative Agent to any Lender or the Borrower with respect to any amount owing under this clause (b) shall be conclusive,
absent manifest error.


 


(c) Failure
to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender
as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative
Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance
with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without
interest.


 


(d) Obligations
of Lenders Several. The obligations of the Lenders hereunder to make Revolving Loans, to fund participations in Letters of Credit
and Swingline Loans and to make payments pursuant to Section 11.04(c) are several and not joint. The failure of any Lender to make
any Loan, to fund any such participation or to make any payment under Section 11.04(c) on any date required hereunder shall not
relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of
any other Lender to so make its Loan, to purchase its participation or to make its payment under Section 11.04(c).


 


(e) Funding
Source. 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.


 


(f) Pro
Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing (other than Swingline Borrowings) shall be
made from the Appropriate Lenders, each payment of fees under Section 2.09 and Section 2.03 shall be made for account of
the Appropriate Lenders, and each termination or reduction of the amount of the Commitments shall be applied to the respective Commitments
of the Lenders, pro rata according to the amounts of their respective Commitments; (ii) each Borrowing shall be allocated pro rata
among the Lenders according to the amounts of their respective Commitments (in the case of the making of Revolving Loans) or their respective
Loans that are to be included in such Borrowing (in the case of conversions and continuations of Loans); (iii) each payment or prepayment
of principal of Loans by the Borrower shall be made for account of the Appropriate Lenders pro rata in accordance with the respective
unpaid principal amounts of the Loans held by them; and (iv) each payment of interest on Loans by the Borrower shall be made for
account of the Appropriate Lenders pro rata in accordance with the amounts of interest on such Loans then due and payable to the respective
Appropriate Lenders.


 






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2.13 Sharing
of Payments by Lenders.


 


If any Lender shall, by exercising
any right of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations due and payable to such Lender hereunder
and under the other Loan Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of
such Obligations due and payable to such Lender at such time to (ii) the aggregate amount of the Obligations due and payable to all
Lenders hereunder and under the other Loan Documents at such time) of payments on account of the Obligations due and payable to all Lenders
hereunder and under the other Loan Documents at such time obtained by all the Lenders at such time or (b) Obligations owing (but
not due and payable) to such Lender hereunder and under the other Loan Documents at such time in excess of its ratable share (according
to the proportion of (i) the amount of such Obligations owing (but not due and payable) to such Lender at such time to (ii) the
aggregate amount of the Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan Documents at such
time) of payments on account of the Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan Documents
at such time obtained by all of the Lenders at such time, then, in each case under clauses (a) and (b) above, the Lender
receiving such greater proportion shall (A) notify the Administrative Agent of such fact, and (B) purchase (for cash at face
value) participations in the Loans and sub-participations in L/C Obligations and Swingline Loans of the other Lenders, or make such other
adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with
the aggregate amount of Obligations then due and payable to the Lenders or owing (but not due and payable) to the Lenders, as the case
may be, provided that:


 


(i) if
any such participations or sub-participations are purchased and all or any portion of the payment giving rise thereto is recovered, such
participations or sub-participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest;
and


 


(ii) the
provisions of this Section 2.13 shall not be construed to apply to (A) any payment made by or on behalf of the Borrower pursuant
to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting
Lender), (B) the application of Cash Collateral provided for in Section 2.14, or (C) any payment obtained by a Lender
as consideration for the assignment of or sale of a participation in any of its Loans or sub-participations in L/C Obligations or Swingline
Loans to any assignee or participant, other than an assignment to any Loan Party or any Affiliate thereof (as to which the provisions
of this Section 2.13 shall apply).


 


Each Loan Party consents to
the foregoing and agrees, to the extent it may effectively do so under Applicable Law, that any Lender acquiring a participation pursuant
to the foregoing arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to such participation
as fully as if such Lender were a direct creditor of such Loan Party in the amount of such participation.


 


2.14 Cash
Collateral.


 


(a) Obligation
to Cash Collateralize. At any time there shall exist a Defaulting Lender, within one (1) Business Day following the written request
of the Administrative Agent or the L/C Issuer (with a copy to the Administrative Agent), the Borrower shall Cash Collateralize the L/C
Issuer’s Fronting Exposure with respect to such Defaulting Lender (determined after giving effect to Section 2.15(a)(iv)
and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount.


 






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(b) Grant
of Security Interest. The Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants to
(and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Lenders,
and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all other
property so provided as Collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which
such Cash Collateral may be applied pursuant to Section 2.14(c). If at any time the Administrative Agent determines that Cash Collateral
is subject to any right or claim of any Person other than the Administrative Agent or the L/C Issuer as herein provided, or that the total
amount of such Cash Collateral is less than the Minimum Collateral Amount, the Borrower will, promptly upon demand by the Administrative
Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (determined
in the case of Cash Collateral provided pursuant to Section 2.15(a)(v), after giving effect to Section 2.15(a)(v) and any
Cash Collateral provided by the Defaulting Lender). All Cash Collateral (other than credit support not constituting funds subject to deposit)
shall be maintained in one or more Controlled Accounts at Citibank. The Borrower shall pay on demand therefor from time to time all customary
account opening, activity and other administrative fees and charges in connection with the maintenance and disbursement of Cash Collateral.


 


(c) Application.
Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this Section 2.14 or
Sections 2.03, 2.05, 2.15 or 8.02 in respect of Letters of Credit shall be held and applied to the satisfaction
of the specific L/C Obligations, obligations to fund participations therein (including, as to Cash Collateral provided by a Revolving
Lender that is a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so
provided, prior to any other application of such property as may be provided for herein.


 


(d) Release.
Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or to secure other obligations shall be released
promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by
the termination of Defaulting Lender status of the applicable Revolving Lender (or, as appropriate, its assignee following compliance
with Section 11.06(b)(vi))) or (ii) the determination by the Administrative Agent and the L/C Issuer that there exists
excess Cash Collateral, including as a result of full or partial cash collateralization of such Fronting Exposure as a result of the application
of payments pursuant to Section 2.15(a)(ii); provided that (A) any such release shall be without prejudice to, and any disbursement
or other transfer of Cash Collateral shall be and remain subject to, any other Lien conferred under the Loan Documents and the other applicable
provisions of the Loan Documents, and (B) the Person providing Cash Collateral and the L/C Issuer may agree that Cash Collateral
shall not be released but instead held to support future anticipated Fronting Exposure or other obligations.


 


2.15 Defaulting
Lenders.


 


(a) Adjustments.
Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time
as that Lender is no longer a Defaulting Lender, to the extent permitted by Applicable Law:


 


(i) Waivers
and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this
Agreement shall be restricted as set forth in the definition of “Required Lenders” and Section 11.01.


 






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(ii) Defaulting
Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of
such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or received by the
Administrative Agent from a Defaulting Lender pursuant to Section 11.08 shall be applied at such time or times as may be determined
by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative
Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the L/C Issuer
or the Swingline Lender hereunder; third, to Cash Collateralize the L/C Issuer’s Fronting Exposure with respect to
such Defaulting Lender in accordance with Section 2.14; fourth, as the Borrower may request (so long as no Default
or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof
as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative
Agent and the Borrower, to be held in a deposit account and released pro rata in order to (A) satisfy such Defaulting Lender’s
potential future funding obligations with respect to Loans under this Agreement and (B) Cash Collateralize the L/C Issuer’s
future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement,
in accordance with Section 2.14; sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or
Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or the Swingline
Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh,
so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a
court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s
breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise as may be required
under the Loan Documents in connection with any Lien conferred thereunder or directed by a court of competent jurisdiction; provided
that if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender
has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at a time when the
conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and
L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C
Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations and
Swingline Loans are held by the Lenders pro rata in accordance with the Commitments hereunder without giving effect to Section 2.15(a)(v).
Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a
Defaulting Lender or to post Cash Collateral pursuant to this Section 2.15(a)(ii) shall be deemed paid to and redirected by such
Defaulting Lender, and each Lender irrevocably consents hereto.


 


(iii) Certain
Fees.


 


(A) Fees.
No Defaulting Lender shall be entitled to receive any fee payable under Section 2.09(a) for any period during which that Lender
is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been
paid to that Defaulting Lender).


 


(B) Letter
of Credit Fees. Each Defaulting Lender shall be entitled to receive Letter of Credit Fees for any period during which that Lender
is a Defaulting Lender only to the extent allocable to its Applicable Revolving Percentage of the stated amount of Letters of Credit for
which it has provided Cash Collateral pursuant to Section 2.14.


 






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(C) Defaulting
Lender Fees. With respect to any Letter of Credit Fee not required to be paid to any Defaulting Lender pursuant to clause (A)
or (B) above, the Borrower shall (1) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting
Lender with respect to such Defaulting Lender’s participation in L/C Obligations or Swingline Loans that has been reallocated to
such Non-Defaulting Lender pursuant to clause (iv) below, (2) pay to the L/C Issuer and the Swingline Lender, as applicable, the
amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such L/C Issuer’s or Swingline Lender’s
Fronting Exposure to such Defaulting Lender, and (3) not be required to pay the remaining amount of any such fee.


 


(iv) Reallocation
of Applicable Revolving Percentages to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s participation in
L/C Obligations and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable
Revolving Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation
does not cause the aggregate Revolving Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Commitment.
Subject to Section 11.20, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against
a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result
of such Non-Defaulting Lender’s increased exposure following such reallocation.


 


(v) Cash
Collateral, Repayment of Swingline Loans. If the reallocation described in clause (a)(v) above cannot, or can only partially,
be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under Applicable Law, (A) first,
prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and (B) second, Cash Collateralize
the L/C Issuer’s Fronting Exposure in accordance with the procedures set forth in Section 2.14.


 


(b) Defaulting
Lender Cure. If the Borrower, the Administrative Agent, the Swingline Lender and the L/C Issuer agree in writing that a Lender is
no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified
in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that
Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions
as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit
and Swingline Loans to be held pro rata by the Lenders in accordance with their Revolving Commitments (without giving effect to Section
2.15(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively
with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided
further that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to
Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting
Lender.


 


(c) New
Swingline Loans/Letters of Credit. So long as any Revolving Lender is a Defaulting Lender, (i) the Swingline Lender shall not be required
to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline Loan and
(ii) the L/C Issuer shall not be required to issue, extend, increase, reinstate or renew any letter of Credit unless it is satisfied that
it will have no Fronting Exposure after giving effect thereto.


 






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2.16 Increase
in Revolving Facility.


 


(a) Request
for Increase. Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Revolving
Lenders), the Borrower may from time to time, request an increase in the Revolving Facility by an aggregate amount (for all such requests)
not exceeding $50,000,000 (an “Incremental Facility”); provided that (i) any such request for an Incremental
Facility shall be in a minimum amount of $5,000,000 and (ii) the Borrower may make a maximum of five (5) such requests and no more than
one (1) per year. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time
period within which each Revolving Lender is requested to respond (which shall in no event be less than ten (10) Business Days from the
date of delivery of such notice to the Revolving Lenders).


 


(b) Lender
Elections to Increase. Each Revolving Lender shall notify the Administrative Agent within such time period whether or not it agrees
to increase its Revolving Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable Revolving Percentage
of such requested increase. Any Revolving Lender not responding within such time period shall be deemed to have declined to increase its
Revolving Commitment.


 


(c) Notification
by Administrative Agent; Additional Revolving Lenders. The Administrative Agent shall notify the Borrower and each Revolving Lender
of the Revolving Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, and subject
to the approval of the Administrative Agent, the L/C Issuer and the Swingline Lender, the Borrower may also invite additional Eligible
Assignees to become Revolving Lenders pursuant to a joinder agreement (“New Revolving Lenders”) in form and
substance reasonably satisfactory to the Administrative Agent and its counsel.


 


(d) Effective
Date and Allocations. If the Revolving Facility is increased in accordance with this Section, the Administrative Agent and the Borrower
shall determine the effective date (the “Revolving Increase Effective Date”) and the final allocation of such
increase. The Administrative Agent shall promptly notify the Borrower and the Revolving Lenders and the New Revolving Lenders, as applicable,
of the final allocation of such increase and the Revolving Increase Effective Date.


 


(e) Conditions
to Effectiveness of Increase. As a condition precedent to such increase, the Borrower shall deliver to the Administrative Agent a
certificate of each Loan Party dated as of the Revolving Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible
Officer of such Loan Party (i) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such
increase, and (ii) in the case of the Borrower, certifying that, before and after giving effect to such increase, (A) the representations
and warranties contained in Article V and the other Loan Documents are true and correct in all material respects, on and as of
the Revolving Increase Effective Date, except to the extent such representations and warranties expressly relate to an earlier date, in
which case they shall remain true and correct in all material respects as of such earlier date, and except that for purposes of this Section,
the representations and warranties contained in clauses (a) and (b) of Section 5.05 shall be deemed to refer to the
most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01, and (B) both before
and after giving effect to the Incremental Facility, no Default exists. The Borrower shall deliver or cause to be delivered any other
customary documents (including, without limitation, legal opinions) as reasonably requested by the Administrative Agent in connection
with any Incremental Facility. The Borrower shall prepay any Revolving Loans outstanding on the Revolving Increase Effective Date (and
pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Revolving Loans ratable
with any revised Applicable Revolving Percentages arising from any nonratable increase in the Revolving Commitments under this Section
2.16.


 






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(f) Conflicting
Provisions. This Section shall supersede any provisions in Section 2.13 or 11.01 to the contrary.


 


(g) Incremental
Facility. Except as otherwise specifically set forth herein, all of the other terms and conditions applicable to such Incremental
Facility shall be identical to the terms and conditions applicable to the Revolving Facility.


 


Article
III



TAXES, YIELD PROTECTION AND ILLEGALITY


 


3.01 Taxes.


 


(a) Defined
Terms. For purposes of this Section 3.01, the term “Applicable Law” includes FATCA and the term “Lender”
includes any L/C Issuer.


 


(b) Payments
Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. Any and all payments by or on account of any obligation of any
Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by Applicable Laws.
If any Applicable Laws (as determined in the good faith discretion of an applicable withholding agent) require the deduction or withholding
of any Tax from any such payment by the applicable withholding agent, then the applicable withholding agent shall be entitled to make
such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance
with Applicable Law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary
so that after any required withholding or the making of all required deductions (including deductions applicable to additional sums payable
under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding
or deduction been made.


 


(c) Payment
of Other Taxes by the Loan Parties. The Loan Parties shall timely pay to the relevant Governmental Authority in accordance with Applicable
Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.


 


(d) Tax
Indemnifications.


 


(i) Each
of the Loan Parties shall, and does hereby, jointly and severally indemnify each Recipient, and shall make payment in respect thereof
within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or
asserted on or attributable to amounts payable under this Section 3.01) payable or paid by such Recipient or required to be withheld
or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto,
whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate
as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the
Administrative Agent on its own behalf or on behalf of a Recipient, shall be conclusive absent manifest error. Each of the Loan Parties
shall also, and does hereby, jointly and severally indemnify the Administrative Agent, and shall make payment in respect thereof within
ten (10) days after demand therefor, for any amount which a Lender for any reason fails to pay indefeasibly to the Administrative Agent
as required pursuant to Section 3.01(d)(ii) below.


 






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(ii) Each
Lender shall, and does hereby, severally indemnify and shall make payment in respect thereof within ten (10) days after demand therefor,
(A) the Administrative Agent against any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has
not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to
do so), (B) the Administrative Agent and the Loan Parties, as applicable, against any Taxes attributable to such Lender’s failure
to comply with the provisions of Section 11.06(d) relating to the maintenance of a Participant Register and (C) the Administrative
Agent and the Loan Parties, as applicable, against any Excluded Taxes attributable to such Lender, in each case, that are payable or paid
by the Administrative Agent or a Loan Party in connection with any Loan Document, and any reasonable expenses arising therefrom or with
respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate
as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest
error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender
under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to
the Administrative Agent under this clause (d)(ii).


 


(e) Evidence
of Payments. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority, as provided in this
Section 3.01, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued
by such Governmental Authority evidencing such payment, a copy of any return reporting such payment or other evidence of such payment
reasonably satisfactory to the Administrative Agent.


 


(f) Status
of Lenders; Tax Documentation.


 


(i) Any
Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall
deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative
Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will permit
such payments to be made without withholding or at a reduced rate of withholding. In addition, if reasonably requested by the Borrower
or the Administrative Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by the Borrower
or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject
to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences,
the completion, execution and submission of such documentation (other than such documentation set forth in Section 3.01(f)(ii)(A),
(ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution
or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial
position of such Lender.


 


(ii) Without
limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person,


 


(A) any
Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender becomes
a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent),
executed copies of IRS Form W–9 certifying that such Lender is exempt from U.S. federal backup withholding tax;


 






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(B) any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number
of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following
is applicable:


 


(1) in
the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments
of interest under any Loan Document, executed copies of IRS Form W–8BEN–E (or W–8BEN, as applicable) establishing an
exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y)
with respect to any other applicable payments under any Loan Document, IRS Form W–8BEN–E (or W–8BEN, as applicable)
establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other
income” article of such tax treaty;


 


(2) executed
copies of IRS Form W–8ECI;


 


(3) in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x)
a certificate substantially in the form of Exhibit M–1 to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section
881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S.
Tax Compliance Certificate”) and (y) executed copies of IRS Form W–8BEN–E (or W–8BEN, as applicable);
or


 


(4) to
the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W–8IMY, accompanied by IRS Form W–8ECI,
IRS Form W–8BEN–E (or W–8BEN, as applicable), a U.S. Tax Compliance Certificate substantially in the form of Exhibit
M–2 or Exhibit M–3, IRS Form W–9, and/or other certification documents from each beneficial owner, as applicable;
provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming
the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit
M–4 on behalf of each such direct and indirect partner;


 






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(C) any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number
of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies (or originals,
as required) of any other form prescribed by Applicable Law as a basis for claiming exemption from or a reduction in U.S. federal withholding
Tax, duly completed, together with such supplementary documentation as may be prescribed by Applicable Law to permit the Borrower or the
Administrative Agent to determine the withholding or deduction required to be made; and


 


(D) 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 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 the purposes of this clause (f)(ii)(D), “FATCA” shall include any amendments
made to FATCA after the date of this Agreement.


 


(iii) Each
Lender agrees that if any form or certification it previously delivered pursuant to this Section 3.01 expires or becomes obsolete
or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent
in writing of its legal inability to do so.


 


(g) Treatment
of Certain Refunds. Unless required by Applicable Laws, at no time shall the Administrative Agent have any obligation to file for
or otherwise pursue on behalf of a Lender, or have any obligation to pay to any Lender, any refund of Taxes withheld or deducted from
funds paid for the account of such Lender. If any Recipient determines, in its sole discretion exercised in good faith, that it has received
a refund of any Taxes as to which it has been indemnified by any Loan Party or with respect to which any Loan Party has paid additional
amounts pursuant to this Section 3.01, it shall pay to such Loan Party an amount equal to such refund (but only to the extent of
indemnity payments made, or additional amounts paid, by such Loan Party under this Section 3.01 with respect to the Taxes giving
rise to such refund), net of all out-of-pocket expenses (including Taxes) incurred by such Recipient, as the case may be, and without
interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that each Loan Party,
upon the request of the Recipient, agrees to repay the amount paid over to such Loan Party (plus any penalties, interest or other charges
imposed by the relevant Governmental Authority) to the Recipient in the event the Recipient is required to repay such refund to such Governmental
Authority. Notwithstanding anything to the contrary in this clause (g), in no event will the applicable Recipient be required to
pay any amount to such Loan Party pursuant to this clause (g) the payment of which would place the Recipient in a less favorable
net after-Tax position than such Recipient would have been in if the Tax subject to indemnification and giving rise to such refund had
not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never
been paid. This clause (g) shall not be construed to require any Recipient to make available its tax returns (or any other information
relating to its Taxes that it deems confidential) to any Loan Party or any other Person.


 






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(h) Survival.
Each party’s obligations under this Section 3.01 shall survive the resignation or replacement of the Administrative Agent
or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or
discharge of all other Obligations.


 


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 Loans whose interest is determined by reference to SOFR or Term SOFR, or to determine or charge
interest rates based upon SOFR or Term SOFR, then, upon notice thereof by such Lender to the Borrower (through the Administrative Agent),
(a) any obligation of such Lender to make or continue Term SOFR Loans or to convert Base Rate Loans to Term SOFR Loans shall be suspended,
and (b) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined
by reference to the Term SOFR component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary
to avoid such illegality, be determined by the Administrative Agent without reference to the Term SOFR component of the Base Rate, in
each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination
no longer exist. Upon receipt of such notice, (i) the Borrower shall, upon demand from such Lender (with a copy to the Administrative
Agent), prepay or, if applicable, convert all Term SOFR Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate
Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the
Term SOFR component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to
maintain such Term SOFR Loan to such day, or immediately, if such Lender may not lawfully continue to maintain such Term SOFR Loan and
(ii) if such notice asserts the illegality of such Lender determining or charging interest rates based upon SOFR, the Administrative Agent
shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the Term SOFR component
thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine
or charge interest rates based upon SOFR. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the
amount so prepaid or converted, together with any additional amounts required pursuant to Section 3.05.


 


3.03 Inability
to Determine Rates.


 


(a) If
in connection with any request for a Term SOFR Loan or a conversion of Base Rate Loans to Term SOFR Loans or a continuation of any of
such Loans, as applicable, (i) the Administrative Agent determines (which determination shall be conclusive absent manifest error)
that (A) no Successor Rate has been determined in accordance with Section 3.03(b), and the circumstances under clause (i) of Section
3.03(b) or the Scheduled Unavailability Date has occurred, or (B) adequate and reasonable means do not otherwise exist for determining
Term SOFR for any requested Interest Period with respect to a proposed Term SOFR Loan or in connection with an existing or proposed Base
Rate Loan, or (ii) the Administrative Agent or the Required Lenders determine that for any reason that Term SOFR for any requested
Interest Period with respect to a proposed Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan,
the Administrative Agent will promptly so notify the Borrower and each Lender.


 






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Thereafter, (x) the
obligation of the Lenders to make or maintain Term SOFR Loans, or to convert Base Rate Loans to Term SOFR Loans, shall be suspended (to
the extent of the affected Term SOFR Loans or Interest Periods), and (y) in the event of a determination described in the preceding
sentence with respect to the Term SOFR component of the Base Rate, the utilization of the Term SOFR component in determining the Base
Rate shall be suspended, in each case until the Administrative Agent (or, in the case of a determination by the Required Lenders described
in clause (ii) of this Section 3.03(a), until the Administrative Agent upon instruction of the Required Lenders) revokes such notice.


 


Upon receipt of such
notice, (i) the Borrower may revoke any pending request for a Borrowing of, or conversion to, or continuation of Term SOFR Loans (to the
extent of the affected Term SOFR Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request
for a Borrowing of Base Rate Loans in the amount specified therein and (ii) any outstanding Term SOFR Loans shall be deemed to have been
converted to Base Rate Loans immediately at the end of their respective applicable Interest Period.


 


(b) Notwithstanding
anything to the contrary in this Agreement or any other Loan Documents, if the Administrative Agent determines (which determination shall
be conclusive absent manifest error), or the Borrower or Required Lenders notify the Administrative Agent (with, in the case of the Required
Lenders, a copy to the Borrower) that the Borrower or Required Lenders (as applicable) have determined, that:


 


(i) adequate
and reasonable means do not exist for ascertaining one month, three month and six month interest periods of Term SOFR, including, without
limitation, because the Term SOFR Screen Rate is not available or published on a current basis and such circumstances are unlikely to
be temporary; or


 


(ii) CME
or any successor administrator of the Term SOFR Screen Rate or a Governmental Authority having jurisdiction over the Administrative Agent
or such administrator with respect to its publication of Term SOFR, in each case acting in such capacity, has made a public statement
identifying a specific date after which one month, three month and six month interest periods of Term SOFR or the Term SOFR Screen Rate
shall or will no longer be made available, or permitted to be used for determining the interest rate of U.S. dollar denominated syndicated
loans, or shall or will otherwise cease, provided that, at the time of such statement, there is no successor administrator that is satisfactory
to the Administrative Agent, that will continue to provide such interest periods of Term SOFR after such specific date (the latest date
on which one month, three month and six month interest periods of Term SOFR or the Term SOFR Screen Rate are no longer available permanently
or indefinitely, the “Scheduled Unavailability Date”);


 


then, on a date and
time determined by the Administrative Agent (any such date, the “Term SOFR Replacement Date”), which date shall
be at the end of an Interest Period or on the relevant interest payment date, as applicable, for interest calculated and, solely with
respect to clause (ii) above, (i) no later than the Scheduled Unavailability Date, or (ii) if the events or circumstances of the type
described in Section 3.03(b)(i) or (ii) have occurred with respect to the Successor Rate then in effect, then in each case,
the Administrative Agent and the Borrower may amend this Agreement solely for the purpose of replacing Term SOFR or any then current Successor
Rate in accordance with this Section 3.03 at the end of any Interest Period, relevant interest payment date or payment period for
interest calculated, as applicable, with an alternative benchmark rate giving due consideration to any evolving or then existing convention
for similar U.S. dollar denominated credit facilities syndicated and agented in the United States for such alternative benchmark. and,
in each case, including any mathematical or other adjustments to such benchmark giving due consideration to any evolving or then existing
convention for similar U.S. dollar denominated credit facilities syndicated and agented in the United States for such benchmark, which
adjustment or method for calculating such adjustment shall be published on an information service as selected by the Administrative Agent
from time to time in its reasonable discretion and may be periodically updated. For the avoidance of doubt, any such proposed rate and
adjustments, shall constitute a “Successor Rate”. Any such amendment shall become effective at 5:00 p.m. on the fifth
Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders and the Borrower unless, prior to
such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders
object to such amendment.


 






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The Administrative
Agent will promptly (in one or more notices) notify the Borrower and each Lender of the implementation of any Successor Rate.


 


Any Successor Rate
shall be applied in a manner consistent with market practice; provided that to the extent such market practice is not administratively
feasible for the Administrative Agent, such Successor Rate shall be applied in a manner as otherwise reasonably determined by the Administrative
Agent.


 


Notwithstanding anything
else herein, if at any time any Successor Rate as so determined would otherwise be less than zero%, the Successor Rate will be deemed
to be zero% for the purposes of this Agreement and the other Loan Documents.


 


In connection with
the implementation of a Successor Rate, the Administrative Agent will have the right to make Conforming Changes from time to time and,
notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will
become effective without any further action or consent of any other party to this Agreement; provided that, with respect to any
such amendment effected, the Administrative Agent shall post each such amendment implementing such Conforming Changes to the Borrower
and the Lenders reasonably promptly after such amendment becomes effective.


 


For purposes of this
Section 3.03, those Lenders that either have not made, or do not have an obligation under this Agreement to make, the relevant
Loans in Dollars shall be excluded from any determination of Required Lenders.


 


3.04 Increased
Costs.


 


(a) Increased
Costs Generally. If any Change in Law shall:


 


(i) impose,
modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits
with or for the account of, or credit extended or participated in by, any Lender or the L/C Issuer;


 


(ii) subject
any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of
the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or
other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or


 


(iii) impose
on any Lender or the L/C Issuer any other condition, cost or expense affecting this Agreement or Term SOFR Loans made by such Lender or
any Letter of Credit or participation therein;


 






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and the result of any of the foregoing
shall be to increase the cost to such Lender of making, converting to, continuing or maintaining any Loan (or of maintaining its obligation
to make any such Loan), or to increase the cost to such Lender or the L/C Issuer of participating in, issuing or maintaining any Letter
of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received
or receivable by such Lender or the L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such
Lender or the L/C Issuer, the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts
as will compensate such Lender or the L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered.


 


(b) Capital
Requirements. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending
Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital or liquidity requirements
has or would have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital
of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such
Lender or the Loans made by, or participations in Letters of Credit or Swingline Loans held by, such Lender, or the Letters of Credit
issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding
company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies
and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy), then from time to
time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate
such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered.


 


(c) Certificates
for Reimbursement. A certificate of a Lender or the L/C Issuer setting forth the amount or amounts necessary to compensate such Lender
or the L/C Issuer or its holding company, as the case may be, as specified in clause (a) or (b) of this Section 3.04
and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the L/C Issuer, as the
case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof.


 


(d) Delay
in Requests. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to the foregoing provisions
of this Section 3.04 shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation,
provided that the Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant to the foregoing provisions of this
Section 3.04 for any increased costs incurred or reductions suffered more than nine (9) months prior to the date that such Lender
or the L/C Issuer, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and
of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise
to such increased costs or reductions is retroactive, then the nine (9) month period referred to above shall be extended to include the
period of retroactive effect thereof).


 






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3.05 Compensation
for Losses.


 


Upon demand of any Lender
(with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender
harmless from any loss, cost or expense incurred by it as a result of:


 


(a) any
continuation, conversion, payment or prepayment of any 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);


 


(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; or


 


(c) any
assignment of a Term SOFR Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrower
pursuant to Section 11.13;


 


including any loss of anticipated profits
and 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. The Borrower shall also pay any customary administrative fees charged by
such Lender in connection with the foregoing.


 


3.06 Mitigation
Obligations; Replacement of Lenders.


 


(a) Designation
of a Different Lending Office. If any Lender requests compensation under Section 3.04, or requires the Borrower to pay any
Indemnified Taxes or additional amounts to any Lender, the L/C Issuer, or any Governmental Authority for the account of any Lender or
the L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then at the request of
the Borrower, such Lender or the L/C Issuer shall, as applicable, use reasonable efforts to designate a different Lending Office for funding
or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if,
in the judgment of such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant
to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section
3.02, as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer, as the case may be, to any unreimbursed
cost or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer, as the case may be. The Borrower hereby agrees
to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer in connection with any such designation or assignment.


 


(b) Replacement
of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrower is required to pay any Indemnified Taxes
or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 and, in
each case, such Lender has declined or is unable to designate a different lending office in accordance with Section 3.06(a), the
Borrower may replace such Lender in accordance with Section 11.13.


 


3.07 Survival.


 


All of the Borrower’s
obligations under this Article III shall survive termination of the Aggregate Commitments, repayment of all other Obligations hereunder,
resignation of the Administrative Agent and the Facility Termination Date.


 






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Article
IV



CONDITIONS PRECEDENT TO CREDIT EXTENSIONS


 


4.01 Conditions
of Initial Credit Extension.


 


The obligation of the L/C
Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent:


 


(a) Execution
of Credit Agreement; Loan Documents. The Administrative Agent shall have received (i) counterparts of this Agreement, executed
by a Responsible Officer of each Loan Party and a duly authorized officer of each Lender, (ii) for the account of each Lender requesting
a Note, a Note executed by a Responsible Officer of the Borrower, (iii) counterparts of the Security Agreement and each other Collateral
Document, executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other Person party thereto,
as applicable and (iv) counterparts of any other Loan Document requested by the Administrative Agent, executed by a Responsible Officer
of the applicable Loan Party and a duly authorized officer of each other Person party thereto.


 


(b) Officer’s
Certificate. The Administrative Agent shall have received an Officer’s Certificate dated the Closing Date, certifying as to
the Organization Documents of each Loan Party (which, to the extent filed with a Governmental Authority, shall be certified as of a recent
date by such Governmental Authority), the resolutions of the governing body of each Loan Party, the good standing, existence or its equivalent
of each Loan Party and of the incumbency (including specimen signatures) of the Responsible Officers of each Loan Party.


 


(c) Legal
Opinions of Counsel. The Administrative Agent shall have received an opinion or opinions (including, if requested by the Administrative
Agent, local counsel opinions) of counsel for the Loan Parties, dated the Closing Date and addressed to the Administrative Agent and the
Lenders, in form and substance reasonably acceptable to the Administrative Agent.


 


(d) Financial
Statements. The Administrative Agent and the Lenders shall have received copies of the financial statements referred to in Section
5.05, each in form and substance satisfactory to each of them.


 


(e) Personal
Property Collateral. The Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent:


 


(i) (A) searches
of UCC filings in the jurisdiction of incorporation or formation, as applicable, of each Loan Party and each jurisdiction where any material
portion of the Collateral is located or where a filing would need to be made in order to perfect the Administrative Agent’s security
interest in the Collateral, copies of the financing statements on file in such jurisdictions and evidence that no Liens exist other than
Permitted Liens and (B) tax lien, judgment and bankruptcy searches;


 






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(ii) searches
of ownership of Intellectual Property in the appropriate governmental offices and such patent/trademark/copyright filings as requested
by the Administrative Agent in order to perfect the Administrative Agent’s security interest in the Intellectual Property;


 


(iii) completed
UCC financing statements for each appropriate jurisdiction as is necessary, in the Administrative Agent’s sole discretion, to perfect
the Administrative Agent’s security interest in the Collateral;


 


(iv) stock
or membership certificates, if any, evidencing the Pledged Equity and undated stock or transfer powers duly executed in blank; in each
case to the extent such Pledged Equity is certificated;


 


(v) in
the case of any personal property Collateral located at premises leased by a Loan Party and set forth on Schedule 5.20(g),
such estoppel letters, consents and waivers from the landlords of such real property to the extent required to be delivered in connection
with Section 6.14 (such letters, consents and waivers shall be in form and substance reasonably satisfactory to the Administrative
Agent, it being acknowledged and agreed that any Landlord Waiver is satisfactory to the Administrative Agent);


 


(vi) to
the extent required to be delivered, filed, registered or recorded pursuant to the terms and conditions of the Collateral Documents, all
instruments, documents and chattel paper in the possession of any of the Loan Parties, together with allonges or assignments as may be
necessary or appropriate to create and perfect the Administrative Agent’s and the Lenders’ security interest in the Collateral;
and


 


(vii) Qualifying
Control Agreements satisfactory to the Administrative Agent to the extent required to be delivered pursuant to Section 6.14.


 


(f) Liability,
Casualty, Property, Terrorism and Business Interruption Insurance. The Administrative Agent shall have received copies of insurance
policies, declaration pages, certificates, evidencing liability, casualty, property, terrorism and business interruption insurance meeting
the requirements set forth herein or in the Collateral Documents or as required by the Administrative Agent. The Loan Parties shall have
delivered to the Administrative Agent an Authorization to Share Insurance Information.


 


(g) Solvency
Certificate. The Administrative Agent shall have received a Solvency Certificate signed by a Responsible Officer of the Borrower as
to the financial condition, solvency and related matters of the Borrower and its Subsidiaries, on a Consolidated basis, after giving effect
to the initial Borrowings under the Loan Documents and the other transactions contemplated hereby.


 


(h) Financial
Condition Certificate. The Administrative Agent shall have received a certificate or certificates executed by a Responsible Officer
of the Borrower as of the Closing Date, as to certain financial matters, substantially in the form of Exhibit P.


 


(i) Material
Contracts. The Administrative Agent shall have received true and complete copies, certified by an officer of the Borrower as true
and complete, of all Material Contracts, together with all exhibits and schedules.


 






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(j) Loan
Notice. The Administrative Agent shall have received a Loan Notice with respect to the Loans to be made on the Closing Date.


 


(k) Existing
Indebtedness of the Loan Parties. All of the existing Indebtedness for borrowed money of the Borrower and its Subsidiaries (other
than Indebtedness permitted to exist pursuant to Section 7.02), if any, shall be repaid in full and all security interests related
thereto shall be terminated on or prior to the Closing Date.


 


(l) Anti-Money-Laundering;
Beneficial Ownership. Upon the reasonable request of any Lender, the Borrower shall have provided to such Lender, and such Lender
shall be reasonably satisfied with, the documentation and other information so requested in connection with applicable “know your
customer” and anti-money-laundering rules and regulations, including, without limitation, the Patriot Act, and any Loan Party that
qualifies as a “legal entity customer” under the Beneficial Ownership Regulation shall have delivered to each Lender that
so requests, a Beneficial Ownership Certification in relation to such Loan Party.


 


(m) Consents.
The Administrative Agent shall have received evidence that all members, boards of directors, governmental, shareholder and material third
party consents and approvals necessary in connection with the entering into of this Agreement have been obtained.


 


(n) Fees
and Expenses. The Administrative Agent and the Lenders shall have received all fees and expenses, if any, owing pursuant to the Fee
Letter and Section 2.09.


 


(o) Other
Documents. All other documents provided for herein or which the Administrative Agent or any other Lender may reasonably request or
require.


 


(p) Additional
Information. Such additional information and materials which the Administrative Agent and/or any Lender shall reasonably request or
require.


 


Without limiting the generality
of the provisions of Section 9.03(c), for purposes of determining compliance with the conditions specified in this Section 4.01,
each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document
or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative
Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto.


 


4.02 Conditions
to all Credit Extensions.


 


The obligation of each Lender
and the L/C Issuer to honor any Request for Credit Extension (other than a Loan Notice requesting only a conversion of Loans to the other
Type, or a continuation of Term SOFR Loans) is subject to the following conditions precedent:


 


(a) Representations
and Warranties. The representations and warranties of the Borrower and each other Loan Party contained in Article II, Article
V or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith,
shall (i) with respect to representations and warranties that contain a materiality qualification, be true and correct on and as of the
date of such Credit Extension and (ii) with respect to representations and warranties that do not contain a materiality qualification,
be true and correct in all material respects on and as of the date of such Credit Extension, and (iii) with respect to representations
and warranties made as of a specific date, be true and correct in all material respects, or all respects as applicable, as of such specific
date, except that for purposes of this Section 4.02, the representations and warranties contained in Sections 5.05(a) and
(b) shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b), respectively.


 






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(b) Default.
No Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds thereof.


 


(c) Request
for Credit Extension. The Administrative Agent and, if applicable, the L/C Issuer or the Swingline Lender shall have received a Request
for Credit Extension in accordance with the requirements hereof.


 


Each Request for Credit Extension
(other than a Loan Notice requesting only a conversion of Loans to the other Type or a continuation of Term SOFR 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.


 


Article
V



REPRESENTATIONS AND WARRANTIES


 


Each Loan Party represents
and warrants to the Administrative Agent and the Lenders, as of the date made or deemed made, that:


 


5.01 Existence,
Qualification and Power.


 


Each Loan Party and each of
its Subsidiaries (a) is duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the jurisdiction
of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations,
consents and approvals 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, and (c) is duly qualified and is licensed and, as applicable, in good standing under
the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification
or license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably
be expected to have a Material Adverse Effect. The copy of the Organization Documents of each Loan Party provided to the Administrative
Agent pursuant to the terms of this Agreement is a true and correct copy of each such document, each of which is valid and in full force
and effect.


 


5.02 Authorization;
No Contravention.


 


The execution, delivery and
performance by each Loan Party of each Loan Document to which such Person is or is to be a party 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 (or the requirement to create) any Lien
under, or require any payment to be made under (i) any material 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 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 Applicable Law.


 


5.03 Governmental
Authorization; Other Consents.


 


No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required
in connection with (a) the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any
other Loan Document, (b) the grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents, or (c) the
perfection or maintenance of the Liens created under the Collateral Documents (including the first priority nature thereof, subject to
Permitted Liens), other than (i) authorizations, approvals, actions, notices and filings which have been duly obtained and (ii) filings
to perfect the Liens created by the Collateral Documents.


 






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5.04 Binding
Effect.


 


This Agreement has been, and
each other Loan Document, when delivered hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto.
This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such
Loan Party, enforceable against each Loan Party that is party thereto in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principals of
equity.


 


5.05 Financial
Statements; No Material Adverse Effect.


 


(a) Audited
Financial Statements. The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout
the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present in all material respects the financial
condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations, cash flows and changes in Shareholders’
Equity for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Borrower and
its Subsidiaries as of the date thereof as determined in accordance with GAAP, including liabilities for taxes, material commitments and
Indebtedness.


 


(b) Quarterly
Financial Statements. The unaudited Consolidated balance sheet of the Borrower and its Subsidiaries dated June 30, 2022 and the related
Consolidated statements of income or operations, Shareholders’ Equity and cash flows for the fiscal quarter ended on that date (i) were
prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein,
and (ii) fairly present in all material respects the financial condition of the Borrower and its Subsidiaries as of the date thereof
and their results of operations, cash flows and changes in Shareholders’ Equity for the period covered thereby, subject, in the
case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments.


 


(c) Material
Adverse Effect. Since the date of the balance sheet included in the Audited Financial Statements, there has been no event or circumstance,
either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect.


 


(d) Forecasted
Financials. The Consolidated forecasted balance sheet, statements of income and cash flows of the Borrower and its Subsidiaries delivered
pursuant to Section 4.01 or Section 6.01 were prepared in good faith on the basis of the assumptions stated therein, which
assumptions were fair in light of the conditions existing at the time of delivery of such forecasts, and represented, at the time of delivery,
the Borrower’s reasonable, good faith estimate of its future financial condition and performance.


 






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5.06 Litigation.


 


There are no actions, suits,
proceedings, claims or disputes pending or threatened in writing, at law, in equity, in arbitration or before any Governmental Authority,
by or against any Loan Party or any Subsidiary or against any of their properties or revenues that (a) purport to affect or pertain
to this Agreement or any other Loan Document or any of the transactions contemplated hereby, or (b)  if adversely determined, either
individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.


 


5.07 No
Default.


 


Neither any Loan Party nor
any Subsidiary thereof 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. No Default has occurred and is continuing or would result
from the consummation of the transactions contemplated by this Agreement or any other Loan Document.


 


5.08 Ownership
of Property.


 


Each Loan Party and each of
its Subsidiaries has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or
used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect.


 


5.09 Environmental
Matters.


 


Except as could not, individually
or in the aggregate, reasonably be expected to result in any Material Adverse Effect on any of the Loan Parties or any of their respective
Subsidiaries, the Loan Parties and their respective Subsidiaries: (i) are, and within the period of all applicable statutes of limitation
have been, in compliance with all applicable Environmental Laws; (ii) hold all Environmental Permits (each of which is in full force and
effect) required for any of their current or intended operations or for any property owned, leased, or otherwise operated by any of them;
(iii) are, and within the period of all applicable statutes of limitation have been, in compliance with all of their Environmental Permits;
(iv) to the extent within the control of the Loan Parties and their respective Subsidiaries, will timely renew and comply with each of
their Environmental Permits and any additional Environmental permits that may be required of any of them without material burden or expense,
and timely comply with any current, future or potential Environmental Law without material burden or expense; and (v) are not aware of
any requirements proposed for adoption or implementation under any Environmental Law.


 


5.10 Insurance.


 


The properties of the Borrower
and its Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of the Borrower, in such amounts
(after giving effect to any self-insurance compatible with the following standards), with such deductibles and covering such risks as
are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the applicable Loan
Party or the applicable Subsidiary operates. The general liability, casualty, property, terrorism and business interruption insurance
coverage of the Loan Parties as in effect on the Closing Date, and as of the last date such Schedule was required to be updated in accordance
with Sections 6.02, 6.13 and 6.14, is outlined as to carrier, policy number, expiration date, type, amount and deductibles
on Schedule 5.10 and such insurance coverage complies with the requirements set forth in this Agreement and the other Loan Documents.


 






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5.11 Taxes.


 


Each Loan Party and each of
its Subsidiaries have timely filed all federal, state and other material tax returns and reports required to be filed, and have timely
paid all federal, state and other material Taxes, including in its capacity as a withholding agent, levied or imposed upon it or its properties,
income or assets otherwise due and payable, except (a) those which are being contested in good faith by appropriate proceedings diligently
conducted and for which adequate reserves have been provided in accordance with GAAP or (b) to the extent that the failure to do so could
not reasonably be expected to have a Material Adverse Effect. There is no proposed tax assessment against any Loan Party or any Subsidiary
that would, if made, have a Material Adverse Effect, nor is there any tax sharing agreement applicable to the Borrower or any Subsidiary.


 


5.12 ERISA
Compliance.


 


(a) Each
Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other federal or state laws. Each
Pension Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter or
is subject to a favorable opinion letter from the IRS to the effect that the form of such Plan is qualified under Section 401(a) of the
Code and the trust related thereto has been determined by the IRS to be exempt from federal income tax under Section 501(a) of the Code,
or an application for such a letter is currently being processed by the IRS. To the knowledge of the Loan Parties, nothing has occurred
that would prevent or cause the loss of such tax-qualified status.


 


(b) There
are no pending or, to the knowledge of the Loan Parties, threatened claims, actions or lawsuits, or action by any Governmental Authority,
with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction
or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to result
in a Material Adverse Effect.


 


(c) (i) No
ERISA Event has occurred, and no Loan Party nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably
be expected to constitute or result in an ERISA Event with respect to any Pension Plan or Multiemployer Plan; (ii) as of the most
recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is
60% or higher and no Loan Party nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause
the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iii) no Loan
Party nor any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium
payments which have become due that are unpaid; (iv) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that
could be subject to Section 4069 or Section 4212(c) of ERISA; and (v) no Pension Plan has been terminated by the plan administrator
thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute
proceedings under Title IV of ERISA to terminate any Pension Plan.


 


(d) Neither
the Borrower nor any ERISA Affiliate maintains or contributes to, or has any unsatisfied obligation to contribute to, or liability under,
any active or terminated Pension Plan other than (i) on the Closing Date, those listed on Schedule 5.12 hereto and (ii) thereafter,
Pension Plans not otherwise prohibited by this Agreement.


 


(e) The
Borrower represents and warrants as of the Closing Date that the Borrower is not and will not be using “plan assets” (within
the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to the Borrower’s entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments or this Agreement.


 






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5.13 Margin
Regulations; Investment Company Act.


 


(a) Margin
Regulations. Neither the Borrower nor any of its Subsidiaries is engaged or will engage, principally or as one of its important activities,
in the business of purchasing or carrying margin stock (within the meaning of Regulation U), or extending credit for the purpose of purchasing
or carrying margin stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more
than twenty-five percent (25%) of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a Consolidated
basis) subject to the provisions of Section 7.01 or Section 7.05 or subject to any restriction contained in any agreement
or instrument between the Borrower or any of its Subsidiaries and any Lender or any Affiliate of any Lender relating to Indebtedness and
within the scope of Section 8.01(e) will be margin stock.


 


(b) Investment
Company Act. None of the Borrower, any Person Controlling the Borrower, or any Subsidiary is or is required to be registered as an
“investment company” under the Investment Company Act of 1940.


 


5.14 Disclosure.


 


The Borrower has disclosed
to the Administrative Agent and the Lenders all agreements, instruments and corporate or other restrictions to which it or any of its
Subsidiaries or any other Loan Party is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably
be expected to result in a Material Adverse Effect. No report, financial statement, certificate or other information furnished (whether
in writing or orally) by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the transactions
contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case as modified
or supplemented by other information so furnished) 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 misleading; provided that, with
respect to projected financial information, each Loan Party represents only that such information was prepared in good faith based upon
assumptions believed to be reasonable at the time.


 


5.15 Compliance
with Laws.


 


Each Loan Party and each Subsidiary
thereof is in compliance with the requirements of all Applicable Laws and all orders, writs, injunctions and decrees applicable to it
or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being
contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually
or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.


 


5.16 Solvency.


 


The Loan Parties are on a
Consolidated basis, Solvent.


 






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5.17 Sanctions
Concerns and Anti-Corruption Laws.


 


(a) Sanctions
Concerns. No Loan Party, nor any Subsidiary, nor, to the knowledge of the Loan Parties and their Subsidiaries, any director or representative
thereof, is an individual or entity that is, or is owned or controlled by one or more individuals or entities that are (i) currently the
subject or target of any Sanctions, (ii) included on OFAC’s List of Specially Designated Nationals or HMT’s Consolidated List
of Financial Sanctions Targets, or any similar list enforced by any other relevant sanctions authority or (iii) located, organized or
resident in a Designated Jurisdiction. The Borrower and its Subsidiaries have conducted their businesses in compliance with all applicable
Sanctions and have instituted and maintained policies and procedures designed to promote and achieve compliance with such Sanctions.


 


(b) Anti-Corruption
Laws. The Loan Parties and their Subsidiaries have conducted their business in compliance in all material respects with the United
States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and other applicable anti-corruption legislation in other jurisdictions,
and have instituted and maintained policies and procedures designed to promote and achieve compliance with such laws.


 


5.18 Responsible
Officers.


 


Set forth on Schedule 1.01(c)
are Responsible Officers, holding the offices indicated next to their respective names, as of the Closing Date and as of the last date
such Schedule 1.01(c) was required to be updated in accordance with Sections 6.02, 6.13 and 6.14 and
such Responsible Officers are the duly elected and qualified officers of such Loan Party and are duly authorized to execute and deliver,
on behalf of the respective Loan Party, this Agreement, the Notes and the other Loan Documents.


 


5.19 Subsidiaries;
Equity Interests; Loan Parties.


 


(a) Subsidiaries,
Joint Ventures, Partnerships and Equity Investments. Set forth on Schedule 5.19(a), is the following information which is true
and complete in all respects as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with
Sections 6.02, 6.13 and 6.14: (i) a complete and accurate list of all Subsidiaries, joint ventures and
partnerships and other equity investments of the Loan Parties as of the Closing Date and as of the last date such Schedule was required
to be updated in accordance with Sections 6.02, 6.13 and 6.14, (ii) the number of shares of each class
of Equity Interests in each Subsidiary outstanding, (iii) the number and percentage of outstanding shares of each class of Equity
Interests owned by the Loan Parties and their Subsidiaries and (iv) the class or nature of such Equity Interests (i.e.,
voting, non-voting, preferred, etc.). The outstanding Equity Interests in all Subsidiaries are validly issued, fully paid and non-assessable
and are owned free and clear of all Liens, other than Permitted Liens. There are no outstanding subscriptions, options, warrants, calls,
rights or other agreements or commitments (other than stock options granted to employees or directors and directors’ qualifying
shares) of any nature relating to the Equity Interests of any Loan Party or any Subsidiary thereof, except as contemplated in connection
with the Loan Documents.


 


(b) Loan
Parties. Set forth on Schedule 5.19(b) is a complete and accurate list of all Loan Parties, showing as of the Closing
Date, or as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.13 and 6.14,
(as to each Loan Party) (i) the exact legal name, (ii) any former legal names of such Loan Party in the four (4) months prior
to the Closing Date, (iii) the jurisdiction of its incorporation or organization, as applicable, (iv) the type of organization,
(v) the jurisdictions in which such Loan Party is qualified to do business, (vi) the address of its chief executive office,
(vii) the address of its principal place of business, (viii) its U.S. federal taxpayer identification number or, in the case
of any non-U.S. Loan Party that does not have a U.S. taxpayer identification number, its unique identification number issued to it by
the jurisdiction of its incorporation or organization, (ix) the organization identification number, (x) ownership information
(e.g., publicly held or if private or partnership, the owners and partners of each of the Loan Parties) and (xi) the
industry or nature of business of such Loan Party.


 






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5.20 Collateral
Representations.


 


(a) Collateral
Documents. Except as may be limited in the Collateral Documents in respect of the total assets owned by Tennessee Subsidiary as set
forth on Schedule 5.20(a), as of the Closing Date and as of the last date such Schedule was required to be updated in accordance
with Sections 6.02 and 6.14, the provisions of the Collateral Documents are effective to create in favor of the Administrative
Agent for the benefit of the Secured Parties a legal, valid and enforceable first priority Lien (subject to Permitted Liens) on all right,
title and interest of the respective Loan Parties in the Collateral described therein. Except for filings completed prior to the Closing
Date and as contemplated hereby and by the Collateral Documents, no filing or other action will be necessary to perfect or protect such
Liens.


 


(b) Intellectual
Property.  Set forth on Schedule 5.20(b), as of the Closing Date and as of the last date such Schedule was required
to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a list of all registered or issued Intellectual
Property (including all applications for registration and issuance) owned by each of the Loan Parties or that each of the Loan Parties
has the right to (including the name/title, current owner, registration or application number, and registration or application date and
such other information as reasonably requested by the Administrative Agent).


 


(c) Documents,
Instrument, and Tangible Chattel Paper. Set forth on Schedule 5.20(c), as of the Closing Date and as of the last date
such Schedule 5.20(c) was required to be updated in accordance with Sections 6.02, 6.13 and 6.14, is
a description of all Documents, Instruments, and Tangible Chattel Paper (each as defined in the UCC) of the Loan Parties with a face,
stated or fair market value in excess of $2,000,000 individually (including the Loan Party owning such Document, Instrument and Tangible
Chattel Paper and such other information as reasonably requested by the Administrative Agent).


 


(d) Deposit
Accounts, Electronic Chattel Paper, Letter-of-Credit Rights, and Securities Accounts.


 


(i) Set
forth on Schedule 5.20(d)(i), as of the Closing Date and as of the last date such Schedule 5.20(d)(i) was required
to be updated in accordance with Sections 6.02 and 6.14, is a description of all deposit accounts and securities accounts
of the Loan Parties, including the name of (A) the applicable Loan Party, (B) in the case of a deposit account, the depository
institution and average amount held in such deposit account and whether such account is a zero balance account or a payroll account, and
(C) in the case of a securities account, the securities intermediary or issuer and the average aggregate market value held in such
securities account, as applicable.


 


(ii) Set
forth on Schedule 5.20(d)(ii), as of the Closing Date and as of the last date such Schedule 5.20(d)(ii) was required
to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a description of all Electronic Chattel Paper
(as defined in the UCC) and Letter-of-Credit Rights (as defined in the UCC) of the Loan Parties with a face, stated or fair market value
in excess of $2,000,000 individually, including the name of (A) the applicable Loan Party, (B) in the case of Electronic Chattel
Paper (as defined in the UCC), the account debtor and (C) in the case of Letter-of-Credit Rights (as defined in the UCC), the issuer
or nominated person, as applicable.


 






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(e) Commercial
Tort Claims. Set forth on Schedule 5.20(e), as of the Closing Date and as of the last date such Schedule 5.20(e)
was required to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a description of all Commercial
Tort Claims (as defined in the UCC) with a face, stated or fair market value in excess of $2,000,000 individually of the Loan Parties
(detailing such Commercial Tort Claim in such detail as reasonably requested by the Administrative Agent).


 


(f) Pledged
Equity Interests. Set forth on Schedule 5.20(f), as of the Closing Date and as of the last date such Schedule 5.20(f)
was required to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a list of (i) all Pledged
Equity and (ii) all other Equity Interests required to be pledged to the Administrative Agent pursuant to the Collateral Documents
(in each case, detailing the Grantor (as defined in the Security Agreement), the Person whose Equity Interests are pledged, the number
of shares of each class of Equity Interests, the certificate number and percentage ownership of outstanding shares of each class of Equity
Interests and the class or nature of such Equity Interests (i.e., voting, non-voting, preferred, etc.)).


 


(g) Properties.
Set forth on Schedule 5.20(g), as of the Closing Date and as of the last date such Schedule 5.20(g) was required
to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a list of (A) each headquarter location
of the Loan Parties, (B) each other location where any significant administrative or governmental functions are performed, (C) each
other location where the Loan Parties maintain any books or records (electronic or otherwise) and (D) each location where any personal
property Collateral is located at any premises owned or leased by a Loan Party with a Collateral value in excess of $2,000,000 (in each
case, including (1) an indication if such location is leased or owned, (2), if leased, the name of the lessor, and if owned, the name
of the Loan Party owning such property, (3) the address of such property (including, the city, county, state and zip code) and (4) to
the extent owned, the approximate fair market value of such property).


 


(h) Material
Contracts. Set forth on Schedule 5.20(h), as of the Closing Date and as of the last date such Schedule 5.20(h)
was required to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a complete and accurate list
of all Material Contracts of the Borrower and its Subsidiaries.


 


5.21 EEA
Financial Institutions.


 


No Loan Party is an EEA Financial
Institution.


 


5.22 Covered
Entities.


 


No
Loan Party is a Covered Entity.


 


5.23 Beneficial
Ownership Certification.


 


The information included in
the Beneficial Ownership Certification, if applicable, is true and correct in all respects.


 






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5.24 Intellectual
Property; Licenses; Etc.


 


The Borrower and each of its
Subsidiaries own, or possess the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights,
trade secrets, know-how, franchises, licenses and other intellectual property rights that are required to operate their respective businesses,
without conflict with the rights of any other Person. To the knowledge of the Borrower, neither the operation of the business, nor any
product, service, process, method, substance, part or other material now used by any Loan Party or any of its Subsidiaries infringes,
misappropriates or otherwise violates upon any rights held by any other Person. No claim or litigation regarding any of the foregoing
is pending or, to the knowledge of the Borrower, threatened in writing, which, either individually or in the aggregate, could reasonably
be expected to have a Material Adverse Effect. To the best knowledge of the Borrower, there has been no unauthorized use, access, interruption,
modification, corruption or malfunction of any information technology assets or systems (or any information or transactions stored or
contained therein or transmitted thereby) owned or used by any Loan Party or any of its Subsidiaries, which, either individually or in
the aggregate, would reasonably be expected to have a Material Adverse Effect.


 


5.25 Labor
Matters.


 


There are no collective bargaining
agreements or Multiemployer Plans covering the employees of the Borrower or any of its Subsidiaries as of the Closing Date and neither
the Borrower nor any Subsidiary has suffered any strikes, walkouts, work stoppages or other material labor difficulty within the last
five (5) years preceding the Closing Date.


 


Article
VI



AFFIRMATIVE COVENANTS


 


Each of the Loan Parties hereby
covenants and agrees that on the Closing Date and thereafter until the Facility Termination Date, such Loan Party shall, and shall cause
each of its Subsidiaries to:


 


6.01 Financial
Statements.


 


Deliver to the Administrative
Agent and each Lender, in form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders:


 


(a) Audited
Financial Statements. As soon as available, but in any event within ninety (90) days after the end of each fiscal year of the Borrower
(or, if earlier, fifteen (15) days after the date required to be filed with the SEC (without giving effect to any extension permitted
by the SEC)) (commencing with the fiscal year ended December 31, 2022), a Consolidated balance sheet of the Borrower and its Subsidiaries
as at the end of such fiscal year, and the related Consolidated statements of income or operations, changes in Shareholders’ 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 report and opinion of an independent certified public accountant
of nationally recognized standing reasonably acceptable to the Administrative Agent, 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 (other than any exception or explanatory paragraph, but not a qualification, with respect to, or resulting
from, the Maturity Date of the Obligations or any other Indebtedness permitted hereunder occurring within one year from the time such
opinion is delivered) as to the scope of such audit.


 






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(b) Quarterly
Financial Statements. 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 Borrower (or, if earlier, five (5) days after the date required to be filed with the SEC
(without giving effect to any extension permitted by the SEC)) (commencing with the fiscal quarter ended September 30, 2022), a Consolidated
balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, and the related Consolidated statements of income
or operations, changes in Shareholders’ Equity and cash flows for such fiscal quarter and for the portion of the Borrower 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 prepared in accordance with GAAP and including
management discussion and analysis of operating results inclusive of operating metrics in comparative form, certified by the chief executive
officer, chief financial officer, treasurer or controller who is a Responsible Officer of the Borrower as fairly presenting the financial
condition, results of operations, Shareholders’ Equity and cash flows of the Borrower and its Subsidiaries, subject only to normal
year-end audit adjustments and the absence of footnotes.


 


(c) Business
Plan and Budget. As soon as available, but in any event within sixty (60) days after the end of each fiscal year of the Borrower,
an annual business plan and budget of the Borrower and its Subsidiaries on a Consolidated basis, including forecasts prepared by management
of the Borrower, in form satisfactory to the Administrative Agent, of Consolidated balance sheets and statements of income or operations
and cash flows of the Borrower and its Subsidiaries on a quarterly basis for the immediately following fiscal year.


 


As to any information contained in materials furnished
pursuant to Section 6.02(g), the Borrower shall not be separately required to furnish such information under Section 6.01(a)
or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish the information and materials
described in Sections 6.01(a) and (b) above at the times specified therein.


 


6.02 Certificates;
Other Information.


 


Deliver to the Administrative
Agent and each Lender, in form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders:


 


(a) Accountants’
Certificate. Concurrently with the delivery of the financial statements referred to in Section 6.01(a) (commencing with the
delivery of the financial statements for the fiscal year ended December 31, 2022), a certificate of its independent certified public accountants
certifying such financial statements and stating that in making the examination necessary therefor no knowledge was obtained of any Default
or, if any such Default shall exist, stating the nature and status of such event.


 


(b) Compliance
Certificate. Concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and (b) (commencing
with the delivery of the financial statements for the fiscal quarter ended September 30, 2022), a duly completed Compliance Certificate
signed by the chief executive officer, chief financial officer, treasurer or controller which is a Responsible Officer of the Borrower.
Unless the Administrative Agent or a Lender requests executed originals, delivery of the Compliance Certificate may be by electronic communication
including fax or email and shall be deemed to be an original and authentic counterpart thereof for all purposes.


 


(c) Updated
Schedules. Concurrently with the delivery of the Compliance Certificate referred to in Section 6.02(b), the following updated
Schedules to this Agreement (which may be attached to the Compliance Certificate) to the extent required to make the representation related
to such Schedule true and correct as of the date of such Compliance Certificate: Schedules 1.01(c), 5.10, 5.19(a),
5.19(b), 5.20(a), 5.20(b), 5.20(c), 5.20(d)(i), 5.20(d)(ii), 5.20(e), 5.20(f),
5.20(g) and 5.20(h).


 






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(d) Calculations.
Concurrently with the delivery of the Compliance Certificate referred to in Section 6.02(b) required to be delivered with the financial
statements referred to in Section 6.01(a), a certificate (which may be included in such Compliance Certificate) including the amount
of all Restricted Payments, Investments (including Permitted Acquisitions), Dispositions, and Capital Expenditures that were made during
the prior fiscal year.


 


(e) Changes
in Entity Structure. Within ten (10) days prior to any merger, consolidation, dissolution or other material change in entity structure
of any Loan Party or any of its Subsidiaries permitted pursuant to the terms hereof, provide notice of such change in entity structure
to the Administrative Agent, along with such other information as reasonably requested by the Administrative Agent. Provide notice to
the Administrative Agent, not less than ten (10) days prior (or such extended period of time as agreed to by the Administrative Agent)
of any change in any Loan Party’s legal name, state of organization, or organizational existence.


 


(f) Audit
Reports; Management Letters; Recommendations. Promptly after any request by the Administrative Agent or any Lender, copies of any
detailed audit reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board
of directors) of any Loan Party by independent accountants in connection with the accounts or books of any Loan Party or any of its Subsidiaries,
or any audit of any of them.


 


(g) Annual
Reports; Etc. Promptly after the same are available, copies of each annual report, proxy or financial statement or other report or
communication sent to the stockholders of the Borrower, and copies of all annual, regular, periodic and special reports and registration
statements which the Borrower may file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of
1934, or with any national securities exchange, and in any case not otherwise required to be delivered to the Administrative Agent pursuant
hereto;.


 


(h) Debt
Securities Statements and Reports. Promptly after the furnishing thereof, copies of any statement or report furnished to any holder
of debt securities of any Loan Party or of any of its Subsidiaries pursuant to the terms of any indenture, loan or credit or similar agreement
and not otherwise required to be furnished to the Lenders pursuant to Section 6.01 or any other clause of this Section 6.02.


 


(i) SEC
Notices. Promptly, and in any event within five (5) Business Days after receipt thereof by any Loan Party or any Subsidiary thereof,
copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning
any investigation or possible investigation or other inquiry by such agency regarding financial or other operational results of any Loan
Party or any Subsidiary thereof.


 


(j) Notices.
Not later than five (5) Business Days after receipt thereof by any Loan Party or any Subsidiary thereof, copies of all material notices,
requests and other documents (including amendments, waivers and other modifications) so received under or pursuant to any instrument,
indenture, loan or credit or similar agreement regarding or related to any material breach or default by any party thereto or any other
event that could materially impair the value of the interests or the rights of any Loan Party or otherwise have a Material Adverse Effect
and, from time to time upon request by the Administrative Agent, such information and reports regarding such instruments, indentures and
loan and credit and similar agreements as the Administrative Agent may reasonably request.


 






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(k) Environmental
Notice. Promptly after the assertion or occurrence thereof, notice of any action or proceeding against or of any noncompliance by
any Loan Party or any of its Subsidiaries with any Environmental Law or Environmental Permit that could reasonably be expected to have
a Material Adverse Effect.


 


(l) Anti-Money-Laundering;
Beneficial Ownership Regulation. Promptly following any request therefor, information and documentation reasonably requested by the
Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money-laundering
rules and regulations, including, without limitation, the Patriot Act.


 


(m) Beneficial
Ownership. To the extent any Loan Party qualifies as a “legal entity customer” under the Beneficial Ownership Regulation,
an updated Beneficial Ownership Certification promptly following any change in the information provided in the Beneficial Ownership Certification
delivered to any Lender in relation to such Loan Party that would result in a change to the list of beneficial owners identified in such
certification.


 


(n) Additional
Information. Promptly, such additional information regarding the business, financial, legal or corporate affairs of any Loan Party
or any Subsidiary thereof, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time
to time reasonably request.


 


(o) Documents
required to be delivered pursuant to Section 6.01(a) or (b) or Section 6.02(g) (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 Borrower posts such documents, or provides a link thereto on the Borrower’s website
on the Internet at the website address listed on Schedule 1.01(a); or (ii) on which such documents are posted on the Borrower’s
behalf on an Internet or intranet 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: (x) upon written request by the Administrative
Agent, the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender upon its request to the Borrower
to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender
and (y) the Borrower shall notify the Administrative Agent and each Lender (by fax transmission or e-mail transmission) of the posting
of any such documents and provide to the Administrative Agent by e-mail electronic versions (i.e., soft copies) of such
documents. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred
to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request by a Lender for delivery,
and each Lender shall be solely responsible for timely accessing posted documents or requesting delivery to it or maintaining its copies
of such documents.


 


(p) The
Borrower hereby acknowledges that (i) the Administrative Agent and/or an Affiliate thereof may, but shall not be obligated to, make
available to the Lenders and the L/C Issuer materials and/or information provided by or on behalf of the Borrower hereunder (collectively,
“Borrower Materials”) by posting the Borrower Materials on IntraLinks, Syndtrak, ClearPar or a substantially
similar electronic transmission system (the “Platform”) and (ii) certain of the Lenders (each, a “Public
Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrower or its
Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities
with respect to such Persons’ securities. The Borrower hereby agrees that it will use commercially reasonable efforts to identify
that portion of the Borrower Materials that may be distributed to the Public Lenders and that (A) all such Borrower Materials shall
be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear
prominently on the first page thereof; (B) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have
authorized the Administrative Agent, any Affiliate thereof, the Arranger, the L/C Issuer and the Lenders to treat such Borrower Materials
as not containing any material non-public information (although it may be sensitive and proprietary) with respect to the Borrower or its
securities for purposes of United States federal and state securities laws (provided that to the extent such Borrower Materials
constitute Information, they shall be treated as set forth in Section 11.07); (C) all Borrower Materials marked “PUBLIC”
are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (D) the
Administrative Agent and any Affiliate thereof and the Arranger shall be entitled to treat any Borrower Materials that are not marked
“PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.”


 






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6.03 Notices.


 


Promptly, but in any event
within five (5) Business Days, notify the Administrative Agent and each Lender:


 


(a) of
the occurrence of any Default;


 


(b) of
any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect;


 


(c) of
the occurrence of any ERISA Event;


 


(d) of
any material change in accounting policies or financial reporting practices by any Loan Party or any Subsidiary thereof; and


 


(e) of
any occurrence of any Disposition of property or assets for which the Borrower is required to make a mandatory prepayment pursuant to
Section 2.05(b)(ii).


 


Each notice pursuant to this
Section 6.03 shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence
referred to therein and to the extent applicable, stating what action the Borrower has taken and proposes to take with respect thereto.
Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any other
Loan Document that have been breached.


 


6.04 Payment
of Obligations.


 


Pay and discharge as the same
shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental
charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently
conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary; (b) all lawful claims
which, if unpaid, would by law become a Lien upon its property; and (c) all Indebtedness, as and when due and payable, but subject
to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness, except, in each case, to the extent
that the failure to do so could not reasonably be expected to have a Material Adverse Effect.


 


6.05 Preservation
of Existence, Etc.


 


(a) Preserve,
renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization
except in a transaction permitted by Section 7.04 or 7.05;


 


(b) take
all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct
of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and


 


(c) preserve
or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected
to have a Material Adverse Effect.


 






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6.06 Maintenance
of Properties.


 


(a) Maintain,
preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and
condition, ordinary wear and tear, casualty and condemnation excepted; and


 


(b) make
all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected
to have a Material Adverse Effect.


 


6.07 Maintenance
of Insurance.


 


(a) Maintenance
of Insurance. Maintain with financially sound and reputable insurance companies not Affiliates of the Borrower, insurance with respect
to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar
business, of such types and in such amounts (after giving effect to any self-insurance compatible with the following standards) as are
customarily carried under similar circumstances by such other Persons and all such insurance shall (i) provide for not less than thirty
(30) days’ prior notice to the Administrative Agent of termination, lapse or cancellation of such insurance, (ii) name the Administrative
Agent as mortgagee (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of liability
insurance) or loss payee (in the case of property insurance), as applicable, (iii) if reasonably requested by the Administrative Agent,
include a breach of warranty clause and (iv) be reasonably satisfactory in all other respects to the Administrative Agent.


 


(b) Evidence
of Insurance. Cause the Administrative Agent to be named as lenders’ loss payable, loss payee or mortgagee, as its interest
may appear, and/or additional insured with respect of any such insurance providing liability coverage or coverage in respect of any Collateral,
and cause, unless otherwise agreed to by the Administrative Agent, each provider of any such insurance to agree, by endorsement upon the
policy or policies issued by it or by independent instruments furnished to the Administrative Agent that it will give the Administrative
Agent thirty (30) days prior written notice before any such policy or policies shall be altered or cancelled (or ten (10) days prior notice
in the case of cancellation due to the nonpayment of premiums). Annually, upon expiration of current insurance coverage, the Loan Parties
shall provide, or cause to be provided, to the Administrative Agent, such evidence of insurance as required by the Administrative Agent,
including, but not limited to: (i) certified copies of such insurance policies, (ii) evidence of such insurance policies (including,
without limitation and as applicable, ACORD Form 28 certificates (or similar form of insurance certificate), and ACORD Form 25 certificates
(or similar form of insurance certificate)), (iii) declaration pages for each insurance policy and (iv) lender’s loss
payable endorsement if the Administrative Agent for the benefit of the Secured Parties is not on the declarations page for such policy.
As requested by the Administrative Agent, the Loan Parties agree to deliver to the Administrative Agent an Authorization to Share Insurance
Information.


 


6.08 Compliance
with Laws.


 


Comply with the requirements
of all Applicable Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such
instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate
proceedings diligently conducted; or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse
Effect.


 






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6.09 Books
and Records.


 


(a) Maintain
proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made
of all financial transactions and matters involving the assets and business of such Loan Party or such Subsidiary, as the case may be;
and


 


(b) maintain
such books of record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory
jurisdiction over such Loan Party or such Subsidiary, as the case may be.


 


6.10 Inspection
Rights.


 


(a) 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 Borrower and at such
reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower;
provided so long as no Event of Default shall have occurred and be continuing, the Borrower shall not be obligated to pay the expenses
of the Administrative Agent and the Lenders for more than one (1) such visit and inspection per year; provided, further, that when an
Event of Default exists the Administrative Agent or any Lender (or any of their respective representatives or independent contractors)
may do any of the foregoing at the expense of the Borrower at any time during normal business hours and without advance notice.


 


(b) If
requested by the Administrative Agent in its commercially reasonable discretion, permit the Administrative Agent and its representatives,
upon reasonable advance notice to the Borrower, to conduct, at the reasonable expense of the Borrower, an annual (i) personal property
asset appraisal on personal property Collateral of the Borrower and its Subsidiaries, (ii) real estate appraisal on real estate Collateral
of the Borrower and its Subsidiaries and (iii) field exam on the accounts receivable, inventory, payables, controls and systems of the
Borrower and its Subsidiaries.


 


(c) If
requested by the Administrative Agent in its commercially reasonable discretion, permit the Administrative Agent, and its representatives,
upon reasonable advance notice to the Borrower, to conduct an annual audit of the Collateral at the reasonable expense of the Borrower.


 


6.11 Use
of Proceeds.


 


Use the proceeds of the Credit
Extensions for Permitted Acquisitions and general corporate purposes not in contravention of any Law or of any Loan Document.


 






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6.12 Material
Contracts.


 


Perform and observe all the
terms and provisions of each Material Contract to be performed or observed by it, maintain each such Material Contract in full force and
effect, enforce each such Material Contract in accordance with its terms, take all such action to such end as may be from time to time
reasonably requested by the Administrative Agent and, upon reasonable request of the Administrative Agent, make to each other party to
each such Material Contract such demands and requests for information and reports or for action as any Loan Party or any of its Subsidiaries
is entitled to make under such Material Contract, and cause each of its Subsidiaries to do so, except, in any case, where the failure
to do so, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.


 


6.13 Covenant
to Guarantee Obligations.


 


The Loan Parties will cause
each of their Subsidiaries (other than (i) any CFC, FSHCO or Subsidiary that is held directly or indirectly by a CFC or (ii) any Excluded
Subsidiary) whether newly formed, after acquired or otherwise existing (including any Person ceasing to be an Excluded Subsidiary) to
promptly (and in any event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as
agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement;
provided that no Foreign Subsidiary shall be required to become a Guarantor or be treated as a Guarantor to the extent such Guaranty
would result in a material adverse Tax consequence for the Borrower or such Foreign Subsidiary. In connection therewith, the Loan Parties
shall give notice to the Administrative Agent not less than five (5) days prior to creating a Subsidiary (or such shorter period of time
as agreed to by the Administrative Agent in its reasonable discretion), or acquiring the Equity Interests of any other Person. In connection
with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable,
substantially the same documentation required pursuant to the applicable clauses of Sections 4.01 and 6.14 and such
other documents or agreements as the Administrative Agent may reasonably request, including without limitation, updated Schedules 1.01(c),
5.10, 5.12, 5.19(a), 5.19(b), 5.20(b), 5.20(c), 5.20(d)(i), 5.20(d)(ii), 5.20(e),
5.20(f), 5.20(g) and 5.20(h).


 


6.14 Covenant
to Give Security.


 


Except with respect to Excluded
Property:


 


(a) Equity
Interests and Personal Property. Each Loan Party will cause the Pledged Equity and all of its tangible and intangible personal property
now owned or hereafter acquired by it to be subject at all times to a first priority, perfected Lien (subject to Permitted Liens to the
extent permitted by the Loan Documents) in favor of the Administrative Agent for the benefit of the Secured Parties to secure the Secured
Obligations pursuant to the terms and conditions of the Collateral Documents. Each Loan Party shall provide opinions of counsel and any
filings and deliveries reasonably necessary in connection therewith to perfect the security interests therein, all in form and substance
reasonably satisfactory to the Administrative Agent. Within twenty (20) Business Days of the Administrative Agent’s receipt of an
updated Schedule 5.20(a), the Tennessee Subsidiary shall provide such documentation, deliveries or filings reasonably necessary
in connection therewith to perfect the security interest in the Tennessee Subsidiary’s assets as reflected on such Schedule.


 






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(b) Landlord
Waivers. In the case of (i) each headquarter location of the Loan Parties, each other location where any significant administrative
or governmental functions are performed and each other location where the Loan Parties maintain any material books or records (electronic
or otherwise) and (ii) any personal property Collateral located at any other premises leased by a Loan Party containing personal
property Collateral with a value in excess of $2,000,000, the Loan Parties will provide the Administrative Agent with such estoppel letters,
consents and waivers from the landlords on such real property to the extent (A) requested by the Administrative Agent and (B) the
Loan Parties are able to secure such letters, consents and waivers after using commercially reasonable efforts (such letters, consents
and waivers shall be in form and substance satisfactory to the Administrative Agent, it being acknowledged and agreed that any Landlord
Waiver is satisfactory to the Administrative Agent).


 


(c) Account
Control Agreements. Each of the Loan Parties shall not open, maintain or otherwise have any deposit or other accounts (including securities
accounts) at any bank or other financial institution, or any other account where money or securities are or may be deposited or maintained
with any Person, other than (i) deposit accounts that are maintained at all times with (A) Citibank or (B) subject to Section
6.18(b), any other depositary institutions as to which the Administrative Agent shall have received a Qualifying Control Agreement,
(ii) securities accounts that are maintained at all times with (A) Citibank or (B) subject to Section 6.18(b), any other financial
institutions as to which the Administrative Agent shall have received a Qualifying Control Agreement, (iii) deposit accounts established
solely as payroll and other zero balance accounts, (iv) deposit accounts from which amounts on deposit therein are swept on a daily basis
into a deposit account of the Loan Parties maintained with Citibank or which are otherwise subject to a Qualifying Control Agreement and
(v) other deposit accounts, so long as at any time the balance in any such account does not exceed $2,000,000 and the aggregate balance
in all such accounts does not exceed $5,000,000.


 


(d) Updated
Schedules. Concurrently with the delivery of any Collateral pursuant to the terms of this Section 6.14, the Borrower shall
provide the Administrative Agent with the applicable updated Schedule(s): 5.19(a), 5.19(b), 5.20(b), 5.20(c),
5.20(d)(i), 5.20(d)(ii), 5.20(e), 5.20(f), 5.20(g) and 5.20(h).


 


(e) Further
Assurances. At any time upon reasonable request of the Administrative Agent, promptly execute and deliver any and all further instruments
and documents and take all such other action as the Administrative Agent may deem necessary or desirable to maintain in favor of the Administrative
Agent, for the benefit of the Secured Parties, Liens and insurance rights on the Collateral that are duly perfected in accordance with
the requirements of, or the obligations of the Loan Parties under, the Loan Documents and all Applicable Laws.


 


6.15 Compliance
with Environmental Laws.


 


Comply, and cause all lessees
and other Persons operating or occupying its properties to comply, in all material respects, with all applicable Environmental Laws and
Environmental Permits; obtain and renew all Environmental Permits necessary for its operations and properties; and conduct any investigation,
study, sampling and testing, cleanup, removal, remedial or other action necessary to remove and clean up all Hazardous Materials from
any of its properties, in accordance with all Environmental Laws; provided that neither the Borrower nor any of its Subsidiaries
shall be required to undertake any such cleanup, removal, remedial or other action to the extent that its obligation to do so is being
contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in
accordance with GAAP.


 


6.16 Anti-Corruption
Laws; Sanctions.


 


(a) Conduct its business in
compliance in all material respects with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and other applicable
anti-corruption legislation in other jurisdictions and with all applicable Sanctions, and maintain policies and procedures designed to
promote and achieve compliance with such laws and Sanctions.


 


(b) Notify the Administrative
Agent immediately if it, any of its Subsidiaries or Affiliates, or their officers, directors or employees is or becomes (i) the target
or subject of any Sanctions, (ii) included on OFAC’s List of Specially Designated Nationals or HMT’s Consolidated List of
Financial Sanctions Targets, or any similar list enforced by any other relevant sanctions authority or (iii) located, organized or resident
in a Designated Jurisdiction


 






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6.17 Further
Assurances.


 


Promptly upon reasonable request
by the Administrative Agent, or any Lender through the Administrative Agent, (a) correct any material defect or error that may be
discovered in any Loan Document or in the execution, acknowledgment, filing or recordation thereof, and (b) do, execute, acknowledge,
deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and
other instruments as the Administrative Agent, or any Lender through the Administrative Agent, may reasonably require from time to time
in order to (i) carry out more effectively the purposes of the Loan Documents, (ii) to the fullest extent permitted by Applicable
Law, subject any Loan Party’s or any of its Subsidiaries’ properties, assets, rights or interests to the Liens now or hereafter
intended to be covered by any of the Collateral Documents, (iii) perfect and maintain the validity, effectiveness and priority of
any of the Collateral Documents and any of the Liens intended to be created thereunder and (iv) assure, convey, grant, assign, transfer,
preserve, protect and confirm more effectively unto the Secured Parties the rights granted or now or hereafter intended to be granted
to the Secured Parties under any Loan Document or under any other instrument executed in connection with any Loan Document to which any
Loan Party or any of its Subsidiaries is or is to be a party, and cause each of its Subsidiaries to do so.


 


6.18 Post-Closing
Matters.


 


The Borrower will, and will
cause each of its Subsidiaries to, as applicable, ensure that promptly, and in any event within:


 


		(a)	Fifteen (15) days following the Closing Date (or such longer period as the Administrative Agent may agree),
endorsement of insurance required to be delivered pursuant to Section 6.07 shall be delivered to the Administrative Agent, each
in form and substance reasonably satisfactory to the Administrative Agent; and



 


		(b)	Sixty (60) days following the Closing Date (or such longer period as the Administrative Agent may agree),
Qualifying Control Agreements required to be delivered pursuant to Section 6.14(c), each in form and substance reasonably satisfactory
to the Administrative Agent, shall be delivered to the Administrative Agent.



 


Article
VII



NEGATIVE COVENANTS


 


Each of the Loan Parties hereby
covenants and agrees that on the Closing Date and thereafter until the Facility Termination Date, no Loan Party shall, nor shall it permit
any Subsidiary to, directly or indirectly:


 


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, except for the following (the
“Permitted Liens”):


 


(a) Liens
securing the Secured Obligations, including arising pursuant to any Loan Document;


 






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(b) Liens
existing on the Closing Date and listed on Schedule 7.01 and any renewals or extensions thereof, provided that (i) the
property covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased except as contemplated by
Section 7.02(b), (iii) the direct or any contingent obligor with respect thereto is not changed, and (iv) any renewal
or extension of the obligations secured or benefited thereby is permitted by Section 7.02(b);


 


(c) Liens
for Taxes not yet due or Liens for Taxes 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 such as carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising
in the ordinary course of business 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; provided that adequate reserves with respect thereto are maintained
on the books of the applicable Person in accordance with GAAP;


 


(e) pledges
or deposits in the ordinary course of business in connection with (i) workers’ compensation, unemployment insurance and other social
security legislation, other than any Lien imposed by ERISA and (ii) public utility services provided to the Borrower or a Subsidiary;


 


(f) deposits
to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds,
performance bonds and other obligations of a like nature incurred in the ordinary course of business;


 


(g) easements,
rights-of-way, restrictions and other similar encumbrances affecting real property which, in the aggregate, are not substantial in amount,
and which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary
conduct of the business of the applicable Person, and any zoning or similar law or right reserved to or vested in any Governmental Authority
to control or regulate the use of any real property that does not materially interfere with the ordinary conduct of the business of the
Borrower and its Subsidiaries;


 


(h) Liens
securing judgments for the payment of money (or appeal or other surety bonds relating to such judgments) not constituting an Event of
Default under Section 8.01(h); provided the applicable Loan Party or Subsidiary shall in good faith be prosecuting an appeal
or proceedings for review;


 


(i) Liens
securing Indebtedness permitted under Section 7.02(c); provided that (i) such Liens do not at any time encumber
any property other than the property financed by such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the
cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition;


 


(j) bankers’
Liens, rights of setoff and other similar Liens existing solely with respect to cash and Cash Equivalents on deposit in one or more accounts
maintained by the Borrower or any of its Subsidiaries with any Lender, in each case in the ordinary course of business in favor of the
bank or banks with which such accounts are maintained, securing solely the customary amounts owing to such bank with respect to cash management
and operating account arrangements; provided that in no case shall any such Liens secure (either directly or indirectly) the repayment
of any Indebtedness;


 


(k) any
Lien existing on any property or asset prior to the acquisition thereof by the Borrower or any Subsidiary or existing on any property
or asset of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary; provided that
(i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary, as the case
may be, (ii) such Lien shall not apply to any other property or assets of the Borrower or any Subsidiary and (iii) such Lien shall secure
only those obligations that it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be,
and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof;


 






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(l) any
interest or title of a lessor, licensor or sublessor under any lease, license or sublease entered into by any Loan Party or any Subsidiary
thereof in the ordinary course of business and covering only the assets so leased, licensed or subleased;


 


(m) Liens
of a collection bank arising under Section 4–210 of the UCC on items in the course of collection;


 


(n) Any
zoning, building or similar laws or rights reserved to or vested in any Governmental Authority;


 


(o) leases,
licenses, subleases or sublicenses granted to others in the ordinary course of business that do not (i) interfere in any material respect
with the ordinary conduct of the business of the Borrower and its Subsidiaries or (ii) secure any Indebtedness;


 


(p) 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;


 


(q) Liens
securing Indebtedness of the type referred to in Section 7.02(j); and


 


(r) other
Liens securing Indebtedness outstanding in an aggregate principal amount not to exceed the $10,000,000.


 


7.02 Indebtedness.


 


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


 


(a) Indebtedness
in respect of the Secured Obligations, including arising under the Loan Documents;


 


(b) Indebtedness
outstanding on the date hereof and listed on Schedule 7.02 and any refinancings, refundings, renewals or extensions thereof;
provided that the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension
except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection
with such refinancing and by an amount equal to any existing commitments unutilized thereunder and the direct or any contingent obligor
with respect thereto is not changed, as a result of or in connection with such refinancing, refunding, renewal or extension; and, still
further, that the terms relating to principal amount, amortization, maturity, collateral (if any) and subordination, standstill and related
terms (if any), and other material terms taken as a whole, of any such refinancing, refunding, renewing or extending Indebtedness, and
of any agreement entered into and of any instrument issued in connection therewith, are no less favorable in any material respect to the
Loan Parties or the Lenders than the terms of any agreement or instrument governing the Indebtedness being refinanced, refunded, renewed
or extended and the interest rate applicable to any such refinancing, refunding, renewing or extending Indebtedness does not exceed the
then applicable market interest rate;


 


(c) Indebtedness
in respect of Capitalized Leases, Synthetic Lease Obligations and purchase money obligations for fixed or capital assets within the limitations
set forth in Section 7.01(i); provided that the aggregate amount of all such Indebtedness at any one time outstanding
shall not exceed $20,000,000;


 


(d) Unsecured
Indebtedness of a Subsidiary (other than an Excluded Subsidiary) of the Borrower owed to the Borrower or a Subsidiary of the Borrower,
which Indebtedness shall (i) to the extent required by the Administrative Agent, be evidenced by promissory notes which shall be
pledged to the Administrative Agent as Collateral for the Secured Obligations in accordance with the terms of the Security Agreement,
(ii) be on terms (including subordination terms) acceptable to the Administrative Agent and (iii) be otherwise permitted under
the provisions of Section 7.03 (“Intercompany Debt”);


 


(e) Guarantees
of the Borrower or any Guarantor in respect of Indebtedness otherwise permitted hereunder of the Borrower or any other Guarantor;


 


(f) Indebtedness
of any Person that becomes a Subsidiary (other than an Excluded Subsidiary) of the Borrower after the date hereof in a transaction permitted
hereunder in an aggregate principal amount not to exceed $5,000,000; provided that such Indebtedness is existing at the time such
Person becomes a Subsidiary of the Borrower and was not incurred solely in contemplation of such Person’s becoming a Subsidiary
of the Borrower;


 


(g) obligations
(contingent or otherwise) existing or arising under any Swap Contract, provided that (i) such obligations are (or were) entered
into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with fluctuations in interest
rates or foreign exchange rates and (ii) such Swap Contract does not contain any provision exonerating the non-defaulting party from
its obligation to make payments on outstanding transactions to the defaulting party; and


 


(h) Shareholder
Redemption Notes in an aggregate outstanding principal amount not to exceed $10,000,000 at any time;


 


(i) Indebtedness
consisting of any earnout, seller note or similar instrument in connection with any Permitted Acquisition; provided that at the
time of incurrence thereof, (a) no Default shall have occurred and be continuing or would result from the incurrence thereof and (b) such
earnouts, seller notes or similar instruments executed in connection with any Permitted Acquisition are Subordinated Indebtedness;





 






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(j) Indebtedness
of any Excluded Subsidiary (other than any Designated Subsidiary) in an aggregate principal amount (on a cumulative basis for all such
Excluded Subsidiaries) not to exceed $15,000,000; provided that, both before and immediately after giving effect to the incurrence
of any such Indebtedness, (A) no Default shall have occurred and be continuing and (B) the Borrower shall be in Pro Forma Compliance with
the financial covenants set forth in Section 7.11; and


 


(k) other Indebtedness in
an aggregate principal amount not to exceed $10,000,000 at any time outstanding.


 


7.03 Investments.


 


Make or hold any Investments,
except:


 


(a) Investments
held by the Borrower and its Subsidiaries in the form of cash or Cash Equivalents;


 


(b) advances
to officers, directors and employees of the Borrower and Subsidiaries in an aggregate amount not to exceed $5,000,000 in the aggregate
at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes;


 


(c) (i) Investments
by the Borrower and its Subsidiaries in their respective Subsidiaries outstanding on the date hereof, (ii) additional Investments
by the Borrower and its Subsidiaries in Loan Parties, (iii) additional Investments by Subsidiaries of the Borrower that are not Loan
Parties in other Subsidiaries that are not Loan Parties, (iv) so long as no Default has occurred and is continuing or would result
from such Investment, additional Investments by the Loan Parties in Domestic Subsidiaries that are not Loan Parties (other than any Designated
Subsidiary) in an aggregate amount invested from the date hereof not to exceed $2,000,000, and (v) so long as no Default has occurred
and is continuing or would result from such Investment, additional Investments by the Loan Parties in Foreign Subsidiaries that are not
Loan Parties in an aggregate amount invested not to exceed $2,500,000 during any fiscal year;


 


(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 to the extent reasonably necessary in order to prevent or limit loss;


 


(e) Guarantees
permitted by Section 7.02;


 


(f) Investments
existing on the date hereof (other than those referred to in Section 7.03(c)(i)) and set forth on Schedule 7.03;


 


(g) Permitted
Acquisitions (other than of (i) Excluded Subsidiaries which Investments are covered by Section 7.03(c)(iv) and (ii) CFCs and Subsidiaries
held directly or indirectly by a CFC which Investments are covered by Section 7.03(c)(v));


 


(h) Investments
(including debt obligations) received in connection with the bankruptcy or reorganization of suppliers and customers and in settlement
of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business;


 


(i) Investments
consisting of the indorsement by the Borrower or any Subsidiary of negotiable instruments payable to such Person for deposit or collection
in the ordinary course of business;


 


(j) Investments
held by the Loan Parties in Marketable Securities, which Investments are (i) managed by Administrative Agent or any Lender (or any investment
management affiliate of such Person), (ii) subject to a securities account control agreement in accordance with Section 6.14(c)
and (iii) made and held in the ordinary course of business and otherwise consistent with past practice (including with the Loan Parties’
established investments policies and practices); and


 


(k) other
Investments not to exceed, in any fiscal year of the Borrower, the greater of (i) $7,000,000 and (ii) 15% Consolidated EBITDA for the
immediately preceding fiscal year; provided that at the time of and immediately after giving effect to the making of such Investments
on a Pro Forma Basis, (x) no Default shall exist or would result therefrom and (y) the Borrower and its Subsidiaries shall be in Pro Forma
Compliance with the financial covenants set forth in Section 7.11.


 


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, so long as no Default exists or
would result therefrom:


 


(a) any
Subsidiary may merge with (i) the Borrower; provided that the Borrower shall be the continuing or surviving Person, or (ii) any
one or more other Subsidiaries, provided that when any Loan Party is merging with another Subsidiary, such Loan Party shall be
the continuing or surviving Person;


 






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(b) any
Loan Party may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrower or to another
Loan Party;


 


(c) any
Subsidiary that is not a Loan Party may dispose of all or substantially all its assets (including any Disposition that is in the nature
of a liquidation) to (i) another Subsidiary that is not a Loan Party or (ii) to a Loan Party;



 


(d) in
connection with any Permitted Acquisition, any Subsidiary of the Borrower may merge into or consolidate with any other Person or permit
any other Person to merge into or consolidate with it; provided that (i) the Person surviving such merger shall be a wholly-owned
Subsidiary of the Borrower and (ii) in the case of any such merger to which any Loan Party (other than the Borrower) is a party, such
Loan Party is the surviving Person; and


 


(e) each
of the Borrower and any of its Subsidiaries may merge into or consolidate with any other Person or permit any other Person to merge into
or consolidate with it; provided that in each case, immediately after giving effect thereto (i) in the case of any such merger
to which the Borrower is a party, the Borrower is the surviving Person and (ii) in the case of any such merger to which any Loan
Party (other than the Borrower) is a party, such Loan Party is the surviving Person.



 



7.05
Dispositions.


 


Make
any Disposition or enter into any agreement to make any Disposition, except:


 


(a)
Permitted Transfers;


 


(b)
Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business;


 


(c)
Dispositions of equipment or real 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 reasonably promptly applied to the purchase price of
such replacement property;


 


(d)
Dispositions permitted by Section 7.04;


 


(e)
non-exclusive licenses of trademarks, service marks, trade names, copyrights, patents, patent rights, trade secrets, know-how, franchises,
licenses and other intellectual property rights in the ordinary course of business and substantially consistent with past practice for
terms not exceeding five years; and


 


(f)
other Dispositions so long as (i) at least 75% of the consideration paid in connection therewith shall be cash or Cash Equivalents
paid contemporaneously with consummation of the transaction and shall be in an amount not less than the fair market value of the property
disposed of, (ii) such transaction does not involve the sale or other disposition of a minority Equity Interests in any Subsidiary,
(iii) such transaction does not involve a sale or other disposition of receivables other than receivables owned by or attributable
to other property concurrently being disposed of in a transaction otherwise permitted under this Section 7.05, and (iv) the
aggregate net book value of all of the assets sold or otherwise disposed of by the Loan Parties and their Subsidiaries in all such transactions
in any fiscal year of the Borrower shall not exceed $10,000,000.


 


7.06
Restricted Payments.


 


Declare
or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, or issue or sell
any Equity Interests or accept any capital contributions, except that, so long as no Default shall have occurred and be continuing at
the time of any action described below or would result therefrom:


 


(a)
each Subsidiary may make Restricted Payments to any Person that owns Equity Interests in such Subsidiary, ratably according to their
respective holdings of the type of Equity Interest in respect of which such Restricted Payment is being made;


 


(b)
the Borrower and each Subsidiary may declare and make dividend payments or other distributions payable solely in common Equity Interests
of such Person;


 






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(c)
the Borrower may purchase, redeem or otherwise acquire Equity Interests pursuant to and in accordance with the Borrower’s stock
repurchase program as in effect on the Closing Date in an aggregate amount not to exceed $40,000,000 so long as both before and after
giving effect to such purchase, redemption or other acquisition of Equity Interests, (i) the Borrower shall be in Pro Forma Compliance
with the financial covenants set forth in Section 7.11, (ii) no Default shall have occurred and be continuing or would result
therefrom and (iii) the Consolidated Net Leverage Ratio shall be at least 0.50 to 1.0 less than the then applicable level set forth in
Section 7.11, calculated using the same Measurement Period used to determine Pro Forma Compliance;


 


(d)
to the extent constituting a Restricted Payment, the Borrower may issue Equity Interests in connection with the cashless exercise of
warrants and option grants;


 


(e)
the Borrower and each Subsidiary may purchase, redeem or otherwise acquire Equity Interests issued by it with the proceeds received from
the substantially concurrent issue of new common Equity Interests;


 


(f)
the Loan Parties may make a payment in respect of any earnout, seller note or similar instrument in connection with any Permitted Acquisition,
so long as both before and after giving effect to such payments in respect of any earnout, seller note or similar instrument, (i) the
Borrower shall be in Pro Forma Compliance with the financial covenants set forth in Section 7.11 and (ii) no Default shall have
occurred and be continuing or would result therefrom; and


 


(g)
the Borrower may make other Restricted Payments not to exceed, in any fiscal year of the Borrower, the greater of (i) $7,000,000 and
(ii) 15% Consolidated EBITDA for the immediately preceding fiscal year; provided that at the time of and immediately after giving
effect to the making of such Restricted Payments on a Pro Forma Basis, (x) no Default shall exist or would result therefrom and (y) the
Borrower and its Subsidiaries shall be in Pro Forma Compliance with the financial covenants set forth in Section 7.11.


 


7.07
Change in Nature of Business.


 


Engage
in any material line of business substantially different from those lines of business conducted by the Borrower and its Subsidiaries
on the date hereof or any business substantially related, complementary or incidental thereto or reasonable extensions thereof.


 


7.08
Transactions with Affiliates.


 


Enter
into or permit to exist any transaction or series of transactions with any officer, director or Affiliate of such Person other than (a) advances
of working capital to any Loan Party, (b) transfers of cash and assets to any Loan Party, (c) intercompany transactions expressly
permitted by this Agreement, (d) normal and reasonable compensation and reimbursement of expenses of officers and directors, and
(e) except as otherwise specifically limited in this Agreement, other transactions which are entered into in the ordinary course
of such Person’s business on fair and reasonable terms and conditions substantially as favorable to such Person as would be obtainable
by it in a comparable arm’s length transaction with a Person other than an officer, director or Affiliate.


 






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7.09
Burdensome Agreements.


 


Enter
into, or permit to exist, any Contractual Obligation (except for this Agreement and the other Loan Documents) that (a) encumbers
or restricts the ability of any such Person to (i) to act as a Loan Party; (ii) make Restricted Payments to any Loan Party,
(iii) pay any Indebtedness or other obligation owed to any Loan Party, (iv) make loans or advances to any Loan Party, or
(v) create any Lien upon any of their properties or assets, whether now owned or hereafter acquired, except, in the case of clause
(a)(v) only, for any document or instrument governing Indebtedness incurred pursuant to Section 7.02(c); provided
that any such restriction contained therein relates only to the asset or assets constructed or acquired in connection therewith;
or (b) other than Permitted Liens, requires the grant of any Lien on property for any obligation if a Lien on such property
is given as security for the Secured Obligations.


 


7.10
Use of Proceeds.


 


Use
the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase
or carry margin stock (within the meaning of Regulation U) or to extend credit to others for the purpose of purchasing or carrying margin
stock or to refund indebtedness originally incurred for such purpose.


 


7.11
Financial Covenants.


 


(a)
Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio as of the end of any Measurement Period
ending as of the end of any fiscal quarter of the Borrower to be less than 3.50 to 1.00.


 


(b)
Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio as of the end of any Measurement Period ending as
of the end of any fiscal quarter of the Borrower to be greater than 3.25 to 1.00; provided that, at the election of the Borrower
upon written notice to the Administrative Agent, during the four consecutive fiscal quarters including and following the quarter in which
the Borrower or any other Loan Party consummates a Specified Permitted Acquisition, the Consolidated Net Leverage Ratio shall be no greater
than 3.75 to 1.00 (such period, the “Adjusted Covenant Period”) (it being understood and agreed that following
the end of the Adjusted Covenant Period, the required Consolidated Net Leverage Ratio shall revert to 3.25 to 1.00 as of the end of each
subsequent fiscal quarter until another Adjusted Covenant Period (if any) occurs); provided further that (i) there may only be
two (2) such Adjusted Covenant Periods during the term of the Revolving Facility and (ii) there shall be at least two (2) full fiscal
quarters between Adjusted Covenant Periods.


 


7.12
Amendments of Organization Documents; Fiscal Year; Legal Name, State of Formation; Form of Entity and Accounting Changes.


 


(a)
Amend any of its Organization Documents in a manner adverse to the Administrative Agent and the Lenders;


 


(b)
change its fiscal year;


 


(c)
without providing ten (10) days prior written notice to the Administrative Agent (or such extended period of time as agreed to by the
Administrative Agent), change its name, state of formation, form of organization or principal place of business; or


 


(d)
make any change in accounting policies or reporting practices, except as required by GAAP.


 


7.13
Sale and Leaseback Transactions.


 


Enter
into any Sale and Leaseback Transaction.


 






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7.14
Prepayments, Etc. of Indebtedness.


 


Prepay,
redeem, purchase, defease or otherwise satisfy or obligate itself to do so prior to the scheduled maturity thereof in any manner (including
by the exercise of any right of setoff), or make any other payment, in each case, to the extent applicable, in violation of any subordination,
standstill or collateral sharing terms of or governing any Subordinated Indebtedness.


 


7.15
Amendment, Etc. of Indebtedness.


 


Amend,
modify or change in any manner any term or condition of any Subordinated Indebtedness in violation of the subordination provisions of
the agreement or instrument governing such Subordinated Indebtedness.


 


7.16
Sanctions.


 


Directly
or indirectly, use any Credit Extension or the proceeds of any Credit Extension, or lend, contribute or otherwise make available such
Credit Extension or the proceeds of any Credit Extension to any Person, to fund any activities of or business with any Person, that,
at the time of such funding, is (i) the target or subject of any Sanctions, (ii) included on OFAC’s List of Specially Designated
Nationals or HMT’s Consolidated List of Financial Sanctions Targets, or any similar list enforced by any other relevant sanctions
authority or (iii) located, organized or resident in a Designated Jurisdiction, or in any other manner that will result in a violation
by any Person (including any Person participating in the transaction, whether as Lender, Arranger, Administrative Agent, L/C Issuer,
Swingline Lender, or otherwise) of Sanctions.


 


7.17
Anti-Corruption Laws.


 


Directly
or indirectly, use any Credit Extension or the proceeds of any Credit Extension for any purpose which would breach the United States
Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and other anti-corruption legislation in other jurisdictions.


 


Article
VIII



EVENTS OF DEFAULT AND REMEDIES


 


8.01
Events of Default.


 


Any
of the following shall constitute an event of default (each, 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 any L/C Obligation or deposit any funds as Cash Collateral in respect of L/C Obligations, or (ii) within
three (3) Business Days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within
five (5) Business Days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or


 


(b)
Specific Covenants. Any Loan Party fails to perform or observe any term, covenant or agreement contained in any of Section
6.01, 6.02, 6.03, 6.05(a), 6.08, 6.10, 6.11, Article VII or Article X; or


 






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(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; or


 


(d)
Representations and Warranties. Any representation, warranty, certification or statement of fact made or deemed made by or on
behalf of the Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith
or therewith shall (x) with respect to representations and warranties that contain a materiality qualification, be incorrect or misleading
in any respect when made or deemed made and (y) with respect to representations and warranties that do not contain a materiality qualification,
be incorrect or misleading in any material respect when made or deemed made; or


 


(e)
Cross-Default. (i) Any Loan Party or any Subsidiary thereof (A) fails to make any payment when due (whether by scheduled
maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness
hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts
and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount,
or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained
in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other
event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (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 be demanded or 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, or such Guarantee to become
payable or Cash Collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination
Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which a Loan Party
or any Subsidiary thereof is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined)
under such Swap Contract as to which a Loan Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event,
the Swap Termination Value owed by such Loan Party or such Subsidiary as a result thereof is greater than the Threshold Amount; or


 


(f)
Insolvency Proceedings, Etc. Any Loan Party or any Subsidiary thereof 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 or similar officer for it or for all or any material part of its
property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator 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 Subsidiary thereof becomes unable or admits in writing its
inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar
process is issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully
bonded within forty-five (45) days after its issue or levy; or


 






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(h)
Judgments. There is entered against any Loan Party or any Subsidiary thereof (i) one or more final judgments or orders for
the payment of money in an aggregate amount (as to all such judgments and orders) exceeding the Threshold Amount (to the extent not covered
by independent third-party insurance as to which the insurer is rated at least “A” by A.M. Best Company, has been notified
of the potential claim and does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement
proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of twenty (20) consecutive days
during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; 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 to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess
of the Threshold Amount, or (ii) the Borrower 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 in excess of the Threshold Amount; 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 or satisfaction in full of all Obligations arising under the Loan
Documents, ceases to be in full force and effect; or any Loan Party or any other Person contests in any manner the validity or enforceability
of any provision of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any provision
of any Loan Document, or purports to revoke, terminate or rescind any provision of any Loan Document; or it is or becomes unlawful for
a Loan Party to perform any of its material obligations under the Loan Documents; or


 


(k)
Collateral Documents. Any Collateral Document after delivery thereof pursuant to the terms of the Loan Documents shall for any
reason cease to create a valid and perfected first priority Lien (subject to Permitted Liens) on a material portion of the Collateral
purported to be covered thereby, or any Loan Party shall assert the invalidity of such Liens; or


 


(l)
Change of Control. There occurs any Change of Control; or


 


Without
limiting the provisions of Article IX, if a Default shall have occurred under the Loan Documents, then such Default will continue
to exist until it either is cured (to the extent specifically permitted) in accordance with the Loan Documents or is otherwise expressly
waived by Administrative Agent (with the approval of requisite Appropriate Lenders (in their sole discretion)) as determined in accordance
with Section 11.01; and once an Event of Default occurs under the Loan Documents, then such Event of Default will continue
to exist until it is expressly waived by the requisite Appropriate Lenders or by the Administrative Agent with the approval of the requisite
Appropriate Lenders, as required hereunder in Section 11.01.


 






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8.02
Remedies upon Event of Default.


 


If
any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required
Lenders, 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 Issuer 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 Borrower Cash Collateralize the L/C Obligations (in an amount equal to the Minimum Collateral Amount with respect thereto);
and


 


(d)
exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders and the L/C Issuer
under the Loan Documents or Applicable Law or equity;


 


provided
that upon the occurrence of an event described in Section 8.01(f) with respect to the Borrower, the Commitment of each Lender
to make Loans and any obligation of the L/C Issuer 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 Borrower 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.


 


8.03
Application of Funds.


 


(a)
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) or if at any time insufficient funds are received by and available to the Administrative Agent to pay fully all Secured Obligations
then due hereunder, any amounts received on account of the Secured Obligations shall, subject to the provisions of Sections 2.14
and 2.15, be applied by the Administrative Agent in the following order:


 


First,
to payment of that portion of the Secured Obligations constituting fees, indemnities, expenses and other amounts (including reasonable
and documented fees, charges and disbursements of outside counsel to the Administrative Agent and amounts payable under Article III)
payable to the Administrative Agent in its capacity as such;


 


Second,
to payment of that portion of the Secured Obligations constituting fees, indemnities and other amounts (other than principal, interest
and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including reasonable and documented fees, charges and disbursements
of outside counsel to the respective Lenders and the L/C Issuer) arising under the Loan Documents and amounts payable under Article
III, ratably among them in proportion to the respective amounts described in this Second clause payable to them;


 


Third,
to payment of that portion of the Secured Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans,
L/C Borrowings and other Secured Obligations arising under the Loan Documents, ratably among the Lenders and the L/C Issuer in proportion
to the respective amounts described in this Third clause payable to them;


 






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Fourth,
to payment of that portion of the Secured Obligations constituting unpaid principal of the Loans, L/C Borrowings and Secured Obligations
then owing under Secured Hedge Agreements and Secured Cash Management Agreements and to the to the Administrative Agent for the account
of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit
to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections 2.03 and 2.14, in each case ratably
among the Administrative Agent, the Lenders, the L/C Issuer, the Hedge Banks and the Cash Management Banks in proportion to the respective
amounts described in this Fourth clause held by them; and


 


Last,
the balance, if any, after all of the Secured Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required
by Law.


 


(b)
Subject to Sections 2.03(c) and 2.14, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit
pursuant to the Fourth clause 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 Secured Obligations, if any, in the order set forth above. Excluded Swap Obligations with respect
to any Guarantor shall not be paid with amounts received from such Guarantor or its assets, but appropriate adjustments shall be made
with respect to payments from other Loan Parties to preserve the allocation to Secured Obligations otherwise set forth above in this
Section 8.03.


 


(c)
Notwithstanding the foregoing, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements shall
be excluded from the application described above if the Administrative Agent has not received a Secured Party Designation Notice, together
with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as
the case may be. Each Cash Management Bank or Hedge Bank not a party to this Agreement that has given the notice contemplated by the
preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant
to the terms of Article IX for itself and its Affiliates as if a “Lender” party hereto.


 


Article
IX



ADMINISTRATIVE AGENT


 


9.01
Appointment and Authority.


 


(a)
Appointment. Each of the Lenders and the L/C Issuer hereby irrevocably appoints, designates and authorizes Citibank to act on
its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such
actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together
with such actions and powers as are reasonably incidental thereto. The provisions of this Article IX are solely for the benefit
of the Administrative Agent, the Lenders and the L/C Issuer, and neither the Borrower nor any other Loan Party shall have rights as a
third party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein or
in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary
or other implied (or express) obligations arising under agency doctrine of any Applicable Law. Instead, such term is used as a matter
of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.


 






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(b)
Collateral Agent. The Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and
each of the Lenders (including in its capacities as a potential Hedge Bank and a potential Cash Management Bank) and the L/C Issuer hereby
irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender and the L/C Issuer 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 9.05
for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for
exercising any rights and remedies thereunder at the direction of the Administrative Agent, shall be entitled to the benefits of all
provisions of this Article IX and Article XI (including Section 11.04(c), 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.


 


9.02
Rights as a Lender.


 


The
Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender
and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall,
unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent
hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act
as the financial advisor or in any other advisory capacity for and generally engage in any kind of banking, trust, financial, advisory,
underwriting or other business with any Loan Party or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative
Agent hereunder and without any duty to account therefor to the Lenders or to provide notice to or consent of the Lenders with respect
thereto.


 


9.03
Exculpatory Provisions.


 


(a)
The Administrative Agent or the Arranger, as applicable, shall not have any duties or obligations except those expressly set forth herein
and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing,
the Administrative Agent or the Arranger, as applicable, and its Related Parties:


 


(i)
shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;


 


(ii)
shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing
by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other
Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion
of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or Applicable Law, including
for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a
forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and


 






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(iii)
shall not have any duty or responsibility to disclose, and shall not be liable for the failure to disclose, to any Lender or the L/C
Issuer 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 Affiliates that is communicated to, or in the possession of, the Administrative Agent, Arranger
or any of their Related Parties in any capacity, except for notices, reports and other documents expressly required to be furnished to
the Lenders by the Administrative Agent herein.


 


(b)
Neither the Administrative Agent nor any of its Related Parties shall be liable for any action taken or not taken by the Administrative
Agent under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby or thereby (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary), or as
the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 11.01
and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent
jurisdiction by final and non-appealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless
and until notice describing such Default is given in writing to the Administrative Agent by the Borrower, a Lender or the L/C Issuer.


 


(c)
Neither the Administrative Agent nor any of its Related Parties have any duty or obligation to any Lender or participant or any other
Person to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or
any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in
connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions
set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of
this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any
Lien purported to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral, or (vi) the satisfaction
of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be
delivered to the Administrative Agent.


 


9.04
Reliance by Administrative Agent.


 


The
Administrative Agent shall be entitled to rely upon, and shall be fully protected in relying and shall not incur any liability for relying
upon, any notice, request, certificate, communication, consent, statement, instrument, document or other writing (including any electronic
message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise
authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed
by it to have been made by the proper Person, and shall be fully protected in relying and shall not incur any liability for relying thereon.
In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a
Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative Agent may
presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice
to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative
Agent may consult with legal counsel (who may be counsel for the Loan Parties), independent accountants and other experts selected by
it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or
experts. For purposes of determining compliance with the conditions specified in Section 4.01, each Lender that has signed this
Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required
thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received
notice from such Lender prior to the proposed Closing Date specifying its objections.


 






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9.05
Delegation of Duties.


 


The
Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document
by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform
any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions
of this Article IX shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent,
and shall apply to their respective activities in connection with the syndication of the Revolving Facility as well as activities as
Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to
the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Administrative Agent acted
with gross negligence or willful misconduct in the selection of such sub-agents.


 


9.06
Resignation of Administrative Agent.


 


(a)
Notice. The Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower.
Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint
a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United
States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty
(30) days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required
Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated
to) on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above;
provided that in no event shall any successor Administrative Agent be a Defaulting Lender. Whether or not a successor has been
appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.


 


(b)
Effect of Resignation or Removal. With effect from the Resignation Effective Date (i) the retiring Administrative Agent shall
be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral
security held by the Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring Administrative
Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (ii) except
for any indemnity payments or other amounts then owed to the retiring Administrative Agent, all payments, communications and determinations
provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly,
until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above. Upon the acceptance
of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the
rights, powers, privileges and duties of the retiring Administrative Agent (other than as provided in Section 3.01(g) and other
than any rights to indemnity payments or other amounts owed to the retiring Administrative Agent as of the Resignation Effective Date),
and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents
(if not already discharged therefrom as provided above in this Section 9.06). The fees payable by the Borrower to a successor
Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor.
After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article
XI and Section 11.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and
their respective Related Parties in respect of any actions taken or omitted to be taken by any of them (A) while the retiring Administrative
Agent was acting as Administrative Agent and (B) after such resignation or removal for as long as any of them continues to act in any
capacity hereunder or under the other Loan Documents, including, without limitation, (1) acting as collateral agent or otherwise holding
any collateral security on behalf of any of the Secured Parties and (2) in respect of any actions taken in connection with transferring
the agency to any successor Administrative Agent.


 






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(c)
L/C Issuer and Swingline Lender. Any resignation or removal by Citibank as Administrative Agent pursuant to this Section 9.06
shall also constitute its resignation as L/C Issuer and Swingline Lender. If Citibank resigns as the L/C Issuer, it shall retain
all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the
effective date of its resignation as the 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 Citibank
resigns as Swingline Lender, it shall retain all the rights of the Swingline Lender provided for hereunder with respect to Swingline
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 Swingline Loans pursuant to Section 2.04(c). Upon the appointment by the
Borrower of a successor L/C Issuer or Swingline Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting
Lender), (i) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring
L/C Issuer or Swingline Lender, as applicable, (ii) the retiring L/C Issuer and Swingline Lender shall be discharged from all of
their respective duties and obligations hereunder or under the other Loan Documents, and (iii) the successor L/C Issuer shall issue
Letters of Credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements
satisfactory to Citibank to effectively assume the obligations of Citibank with respect to such Letters of Credit.


 


9.07
Non-Reliance on Administrative Agent, the Arranger and the Other Lenders.


 


Each
Lender and the L/C Issuer expressly acknowledges that none of the Administrative Agent nor the Arranger has made any representation or
warranty to it, and that no act by the Administrative Agent or the Arranger hereafter taken, including any consent to, and acceptance
of any assignment or review of the affairs of any Loan Party or any Affiliate thereof, shall be deemed to constitute any representation
or warranty by the Administrative Agent or the Arranger to any Lender or the L/C Issuer as to any matter, including whether the Administrative
Agent or the Arranger have disclosed material information in their (or their Related Parties’) possession. Each Lender and the
L/C Issuer represents to the Administrative Agent and the Arranger that it has, independently and without reliance upon the Administrative
Agent, the Arranger, any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate,
made its own credit analysis of, appraisal of, and investigation into, the business, prospects, operations, property, financial and other
condition and creditworthiness of the Loan Parties and their Subsidiaries, and all applicable bank or other regulatory Laws relating
to the transactions contemplated hereby, and made its own decision to enter into this Agreement and to extend credit to the Borrower
hereunder. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative
Agent, the Arranger, any other Lender or any of their Related Parties and based on such documents and information as it shall from time
to time deem appropriate, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under or
based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder, and to
make such investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other
condition and creditworthiness of the Loan Parties. Each Lender and the L/C Issuer represents and warrants that (i) the Loan Documents
set forth the terms of a commercial lending facility and (ii) it is engaged in making, acquiring or holding commercial loans in the ordinary
course and is entering into this Agreement as a Lender or L/C Issuer for the purpose of making, acquiring or holding commercial loans
and providing other facilities set forth herein as may be applicable to such Lender or L/C Issuer, and not for the purpose of purchasing,
acquiring or holding any other type of financial instrument, and each Lender and the L/C Issuer agrees not to assert a claim in
contravention of the foregoing. Each Lender and the L/C Issuer represents and warrants that it is sophisticated with respect to decisions
to make, acquire and/or hold commercial loans and to provide other facilities set forth herein, as may be applicable to such Lender or
such L/C Issuer, and either it, or the Person exercising discretion in making its decision to make, acquire and/or hold such commercial
loans or to provide such other facilities, is experienced in making, acquiring or holding such commercial loans or providing such other
facilities.


 






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9.08
No Other Duties, Etc.


 


Anything
herein to the contrary notwithstanding, none of the titles listed on the cover page hereof shall have any powers, duties or responsibilities
under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, the Arranger,
a Lender or the L/C Issuer hereunder.


 


9.09
Administrative Agent May File Proofs of Claim; Credit Bidding.


 


(a)
In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the
Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed
or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall
be entitled and empowered, by intervention in such proceeding or otherwise:


 


(i)
to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations
and all other Secured Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order
to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and counsel
and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent under Sections 2.03(h) and (i), 2.09,
2.10(b) and 11.04) allowed in such judicial proceeding; and


 


(ii)
to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;


 


and
any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby
authorized by each Lender and the L/C Issuer 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 and the L/C Issuer, to pay to the Administrative Agent any
amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel,
and any other amounts due the Administrative Agent under Sections 2.09, 2.10(b) and 11.04.


 


(b)
Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf
of any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Secured Obligations
or the rights of any Lender or the L/C Issuer to authorize the Administrative Agent to vote in respect of the claim of any Lender or
the L/C Issuer or in any such proceeding.


 






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(c)
The Secured Parties hereby irrevocably authorize the Administrative Agent, at the direction of the Required Lenders, to credit bid all
or any portion of the Secured Obligations (including accepting some or all of the Collateral in satisfaction of some or all of the Secured
Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase (either directly or through one or more
acquisition vehicles) all or any portion of the Collateral (i) at any sale thereof conducted under the provisions of the Bankruptcy Code
of the United States, including under Sections 363, 1123 or 1129 of the Bankruptcy Code of the United States, or any similar Laws in
any other jurisdictions to which a Loan Party is subject, (ii) at any other sale or foreclosure or acceptance of collateral in lieu of
debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial action or otherwise) in
accordance with any Applicable Law. In connection with any such credit bid and purchase, the Secured Obligations owed to the Secured
Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Secured Obligations with respect to contingent or
unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that would vest upon the liquidation of
such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests)
in the asset or assets so purchased (or in the Equity Interests or debt instruments of the acquisition vehicle or vehicles that are used
to consummate such purchase). In connection with any such bid (A) the Administrative Agent shall be authorized to form one or more acquisition
vehicles to make a bid, (B) to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided that
any actions by the Administrative Agent with respect to such acquisition vehicle or vehicles, including any disposition of the assets
or Equity Interests thereof shall be governed, directly or indirectly, by the vote of the Required Lenders, irrespective of the termination
of this Agreement and without giving effect to the limitations on actions by the Required Lenders contained in Section 11.01),
and (C) to the extent that Secured Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any
reason (as a result of another bid being higher or better, because the amount of Secured Obligations assigned to the acquisition vehicle
exceeds the amount of debt credit bid by the acquisition vehicle or otherwise), such Secured Obligations shall automatically be reassigned
to the Lenders pro rata and the Equity Interests and/or debt instruments issued by any acquisition vehicle on account of the Secured
Obligations that had been assigned to the acquisition vehicle shall automatically be cancelled, without the need for any Secured Party
or any acquisition vehicle to take any further action.


 


9.10
Collateral and Guaranty Matters.


 


(a)
Each of the Lenders (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuer irrevocably
authorize the Administrative Agent, at its option and in its discretion,


 


(i)
to release any Lien on any property granted to or held by the Administrative Agent under any Loan Document (i) upon the Facility
Termination Date, (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection
with any sale or other disposition permitted hereunder or under any other Loan Document, or (iii) if approved, authorized or ratified
in writing by the Required Lenders in accordance with Section 11.01;


 


(ii)
to subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien
on such property that is permitted by Section 7.01(i); and


 






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(iii)
to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary as a result of a transaction
permitted under the Loan Documents.


 


(b)
Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority
to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under
the Guaranty pursuant to this Section 9.10. In each case as specified in this Section 9.10, the Administrative Agent will,
at the Borrower’s reasonable expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably
request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral Documents
or to subordinate its interest in such item, or to release such Guarantor from its obligations under the Guaranty, in each case in accordance
with the terms of the Loan Documents and this Section 9.10.


 


(c)
The Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding
the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien
thereon, or any certificate prepared by any Loan Party in connection therewith, nor shall the Administrative Agent be responsible or
liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.


 


9.11
Secured Cash Management Agreements and Secured Hedge Agreements.


 


Except
as otherwise expressly set forth herein or in the Guaranty or any Collateral Document, no Cash Management Bank or Hedge Bank that obtains
the benefit of the provisions of Section 8.03, the Guaranty or any Collateral by virtue of the provisions hereof or any Collateral
Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan
Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) (or to notice of or to consent
to any amendment, waiver or modification of the provisions hereof or of the Guaranty or any Collateral Document) other than in its capacity
as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this
Article IX to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory
arrangements have been made with respect to, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements
except to the extent expressly provided herein and unless the Administrative Agent has received a Secured Party Designation Notice of
such Secured Obligations, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash
Management Bank or Hedge Bank, as the case may be. The Administrative Agent shall not be required to verify the payment of, or that other
satisfactory arrangements have been made with respect to, Secured Obligations arising under Secured Cash Management Agreements and Secured
Hedge Agreements in the case of a Facility Termination Date.


 


9.12
Certain ERISA Matters.


 


(a)
Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date
such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative
Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following
is and will be true:


 


(i)
such Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit
Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters
of Credit, the Commitments, or this agreement,


 






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(ii)
the transaction exemption set forth in one or more PTEs, such as PTE 84–14 (a class exemption for certain transactions determined
by independent qualified professional asset managers), PTE 95–60 (a class exemption for certain transactions involving insurance
company general accounts), PTE 90–1 (a class exemption for certain transactions involving insurance company pooled separate accounts),
PTE 91–38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96–23 (a class exemption
for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,


 


(iii)
(A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI
of PTE 84–14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into,
participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements
of sub-sections (b) through (g) of Part I of PTE 84–14 and (D) to the best knowledge of such Lender, the requirements of subsection
(a) of Part I of PTE 84–14 are satisfied with respect to such Lender’s entrance into, participation in, administration
of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or


 


(iv)
such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion,
and such Lender.


 


(b)
In addition, unless either (1) clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2)
a Lender has provided another representation, warranty and covenant in accordance with clause (iv) in the immediately preceding
clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and
(y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for
the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan
Party, that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance
into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement (including
in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any
documents related hereto or thereto).


 






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9.13
Recovery of Erroneous Payments.


 


(a)
If the Administrative Agent notifies a Lender, L/C Issuer or other Secured Party, or any Person who has received funds on behalf of a
Lender, L/C Issuer or other Secured Party (any such Lender, L/C Issuer, Secured Party or other recipient, a “Payment Recipient”)
that the Administrative Agent has determined in its sole discretion (whether or not after receipt of any notice under clause (b)
of this Section) that any funds received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously
transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender, L/C
Issuer, Secured Party or other Payment Recipient on its behalf) (any such funds, whether received as a payment, prepayment or repayment
of principal, interest, fees, distribution or otherwise, individually and collectively, an “Erroneous Payment”) and
demands the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of
the Administrative Agent and shall be segregated by the Payment Recipient and held in trust for the benefit of the Administrative Agent,
and such Lender, L/C Issuer or Secured Party shall (or, with respect to any Payment Recipient who received such funds on its behalf,
shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter, return to the Administrative
Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency
so received), together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof)
was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent in same day funds at the greater
of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation
from time to time in effect. A notice of the Administrative Agent to any Payment Recipient under this clause (a) shall be conclusive,
absent manifest error.


 


(b)
Without limiting immediately preceding clause (a), each Payment Recipient hereby further agrees that if it receives a payment, prepayment
or repayment (whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise) from the
Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in
a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates) with respect to such payment,
prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administrative
Agent (or any of its Affiliates), or (z) that such Payment Recipient otherwise becomes aware was transmitted, or received, in error or
by mistake (in whole or in part) in each case:


 


(i)
(A) in the case of immediately preceding clauses (x) or (y), an error shall be presumed to have been made (absent written
confirmation from the Administrative Agent to the contrary) or (B) an error has been made (in the case of immediately preceding clause
(z)), in each case, with respect to such payment, prepayment or repayment; and


 


(ii)
such Lender Party shall (and shall cause any other recipient that receives funds on its respective behalf to) promptly (and, in all events,
within one Business Day of its knowledge of such error) notify the Administrative Agent of its receipt of such payment, prepayment or
repayment, the details thereof (in reasonable detail) and that it is so notifying the Administrative Agent pursuant to this clause (b)
of Section 9.13.


 


(c)
Each Lender, L/C Issuer or other Secured Party hereby authorizes the Administrative Agent to set off, net and apply any and all amounts
at any time owing to such Lender, L/C Issuer or other Secured Party under any Loan Document, or otherwise payable or distributable by
the Administrative Agent to such Lender, L/C Issuer or other Secured Party from any source, against any amount due to the Administrative
Agent under clause (a) of Section 9.13 or under the indemnification provisions of this Agreement.


 






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(d)
In the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand
therefor by the Administrative Agent in accordance with clause (a) of this Section, from any Lender or L/C Issuer that has received
such Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such Erroneous Payment (or portion thereof)
on its respective behalf) (such unrecovered amount, an “Erroneous Payment Return Deficiency”), upon the Administrative
Agent’s notice to such Lender or L/C Issuer at any time, (i) such Lender or L/C Issuer shall be deemed to have assigned its Loans
(but not its Commitments) with respect to which such Erroneous Payment was made (the “Erroneous Payment Impacted Class”)
in an amount equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Administrative Agent may specify) (such assignment
of the Loans (but not Commitments) of the Erroneous Payment Impacted Class, the “Erroneous Payment Deficiency Assignment”)
at par plus any accrued and unpaid interest (with the assignment fee to be waived by the Administrative Agent in such instance), and
is hereby (together with the Borrower) deemed to execute and deliver an Assignment and Assumption (or, to the extent applicable, an agreement
incorporating an Assignment and Assumption by reference pursuant to the Platform as to which the Administrative Agent and such parties
are participants) with respect to such Erroneous Payment Deficiency Assignment, and such Lender or L/C Issuer shall deliver any Notes
evidencing such Loans to the Borrower or the Administrative Agent, (ii) the Administrative Agent as the assignee Lender shall be deemed
to acquire the Erroneous Payment Deficiency Assignment, (iii) upon such deemed acquisition, the Administrative Agent as the assignee
Lender shall become a Lender or L/C Issuer, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment and
the assigning Lender or assigning L/C Issuer shall cease to be a Lender or L/C Issuer, as applicable, hereunder with respect to such
Erroneous Payment Deficiency Assignment, excluding, for the avoidance of doubt, its obligations under the indemnification provisions
of this Agreement and its applicable Commitments which shall survive as to such assigning Lender or assigning L/C Issuer and (iv) the
Administrative Agent may reflect in the Register its ownership interest in the Loans subject to the Erroneous Payment Deficiency Assignment.
The Administrative Agent may, in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment and upon
receipt of the proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender or L/C Issuer shall be reduced
by the net proceeds of the sale of such Loan (or portion thereof), and the Administrative Agent shall retain all other rights, remedies
and claims against such Lender or L/C Issuer (and/or against any recipient that receives funds on its respective behalf). For the avoidance
of doubt, no Erroneous Payment Deficiency Assignment will reduce the Commitments of any Lender or L/C Issuer and such Commitments shall
remain available in accordance with the terms of this Agreement. In addition, each party hereto agrees that, except to the extent that
the Administrative Agent has sold a Loan (or portion thereof) acquired pursuant to an Erroneous Payment Deficiency Assignment, and irrespective
of whether the Administrative Agent may be equitably subrogated, the Administrative Agent shall be contractually subrogated to all the
rights and interests of the applicable Lender, L/C Issuer or other Secured Party under the Loan Documents with respect to each Erroneous
Payment Return Deficiency (the “Erroneous Payment Subrogation Rights”).


 


(e)
The parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed
by the Borrower or any other Loan Party, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the
amount of such Erroneous Payment that is, comprised of funds received by the Administrative Agent from the Borrower or any other Loan
Party for the purpose of making such Erroneous Payment.


 


(f)
To the extent permitted by applicable law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives,
and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim
by the Administrative Agent for the return of any Erroneous Payment received, including without limitation waiver of any defense based
on “discharge for value” or any similar doctrine.


 






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(g)
Each party’s obligations, agreements and waivers under this Section 9.13 shall survive the resignation or replacement of
the Administrative Agent, any transfer of rights or obligations by, or the replacement of, a Lender or L/C Issuer, the termination of
the Commitments and/or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.


 


Article
X



CONTINUING GUARANTY


 


10.01
Guaranty.


 


Each
Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as primary obligor and as a guaranty of payment and
performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment,
upon acceleration, demand or otherwise, and at all times thereafter, of any and all Secured Obligations (for each Guarantor, subject
to the proviso in this sentence, its “Guaranteed Obligations”); provided that (a) the Guaranteed Obligations
of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor and (b) the liability of each Guarantor individually
with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations
hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable
state law. Without limiting the generality of the foregoing, the Guaranteed Obligations shall include any such indebtedness, obligations,
and liabilities, or portion thereof, which may be or hereafter become unenforceable or compromised or shall be an allowed or disallowed
claim under any proceeding or case commenced by or against any debtor under any Debtor Relief Laws. The Administrative Agent’s
books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding
upon each Guarantor, and conclusive absent manifest error for the purpose of establishing the amount of the Secured Obligations. This
Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Secured Obligations or any instrument
or agreement evidencing any Secured Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent
of any collateral therefor, or by any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense
to the obligations of the Guarantors, or any of them, under this Guaranty, and each Guarantor hereby irrevocably waives any defenses
it may now have or hereafter acquire in any way relating to any or all of the foregoing.


 


10.02
Rights of Lenders.


 


Each
Guarantor consents and agrees that the Secured Parties may, at any time and from time to time, without notice or demand, and without
affecting the enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise, discharge, accelerate or
otherwise change the time for payment or the terms of the Secured Obligations or any part thereof; (b) take, hold, exchange, enforce,
waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this Guaranty or any Secured Obligations;
(c) apply such security and direct the order or manner of sale thereof as the Administrative Agent, the L/C Issuer and the Lenders
in their sole discretion may determine; and (d) release or substitute one or more of any endorsers or other guarantors of any of
the Secured Obligations. Without limiting the generality of the foregoing, each Guarantor consents to the taking of, or failure to take,
any action which might in any manner or to any extent vary the risks of such Guarantor under this Guaranty or which, but for this provision,
might operate as a discharge of such Guarantor.


 






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10.03
Certain Waivers.


 


Each
Guarantor waives (a) any defense arising by reason of any disability or other defense of the Borrower or any other guarantor, or
the cessation from any cause whatsoever (including any act or omission of any Secured Party) of the liability of the Borrower or any
other Loan Party; (b) any defense based on any claim that such Guarantor’s obligations exceed or are more burdensome than
those of the Borrower or any other Loan Party; (c) the benefit of any statute of limitations affecting any Guarantor’s liability
hereunder; (d) any right to proceed against the Borrower or any other Loan Party, proceed against or exhaust any security for the
Secured Obligations, or pursue any other remedy in the power of any Secured Party whatsoever; (e) any benefit of and any right to
participate in any security now or hereafter held by any Secured Party; and (f) to the fullest extent permitted by law, any and
all other defenses or benefits that may be derived from or afforded by Applicable Law limiting the liability of or exonerating guarantors
or sureties other than the defense of payment. Each Guarantor expressly waives all setoffs and counterclaims and all presentments, demands
for payment or performance, notices of nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other
notices or demands of any kind or nature whatsoever with respect to the Secured Obligations, and all notices of acceptance of this Guaranty
or of the existence, creation or incurrence of new or additional Secured Obligations.


 


10.04
Obligations Independent.


 


The
obligations of each Guarantor hereunder are those of primary obligor, and not merely as surety, and are independent of the Secured Obligations
and the obligations of any other guarantor, and a separate action may be brought against each Guarantor to enforce this Guaranty whether
or not the Borrower or any other person or entity is joined as a party.


 


10.05
Subrogation.


 


No
Guarantor shall exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments
it makes under this Guaranty until all of the Secured Obligations and any amounts payable under this Guaranty have been indefeasibly
paid and performed in full and the Commitments and the Revolving Facility is terminated. If any amounts are paid to a Guarantor in violation
of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid
to the Secured Parties to reduce the amount of the Secured Obligations, whether matured or unmatured.


 


10.06
Termination; Reinstatement.


 


This
Guaranty is a continuing and irrevocable guaranty of all Secured Obligations now or hereafter existing and shall remain in full force
and effect until the Facility Termination Date. Notwithstanding the foregoing, this Guaranty shall continue in full force and effect
or be revived, as the case may be, if any payment by or on behalf of the Borrower or a Guarantor is made, or any of the Secured Parties
exercises its right of setoff, in respect of the Secured Obligations 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 any of the Secured Parties in their discretion) to be repaid to a trustee, receiver or any other party, in connection with any
proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made or such setoff had not occurred and whether
or not the Secured Parties are in possession of or have released this Guaranty and regardless of any prior revocation, rescission, termination
or reduction. The obligations of each Guarantor under this Section 10.06 shall survive termination of this Guaranty.


 






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10.07
Stay of Acceleration.


 


If
acceleration of the time for payment of any of the Secured Obligations is stayed, in connection with any case commenced by or against
a Guarantor or the Borrower under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable by each Guarantor,
jointly and severally, immediately upon demand by the Secured Parties.


 


10.08
Condition of Borrower.


 


Each
Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrower and
any other guarantor such information concerning the financial condition, business and operations of the Borrower and any such other guarantor
as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not relying on the Secured Parties
at any time, to disclose to it any information relating to the business, operations or financial condition of the Borrower or any other
guarantor (each Guarantor waiving any duty on the part of the Secured Parties to disclose such information and any defense relating to
the failure to provide the same).


 


10.09
Appointment of Borrower.


 


Each
of the Loan Parties hereby appoints the Borrower to act as its agent for all purposes of this Agreement, the other Loan Documents and
all other documents and electronic platforms entered into in connection herewith and agrees that (a) the Borrower may execute such
documents and provide such authorizations on behalf of such Loan Parties as the Borrower deems appropriate in its sole discretion and
each Loan Party shall be obligated by all of the terms of any such document and/or authorization executed on its behalf, (b) any
notice or communication delivered by the Administrative Agent, L/C Issuer or a Lender to the Borrower shall be deemed delivered to each
Loan Party and (c) the Administrative Agent, L/C Issuer or the Lenders may accept, and be permitted to rely on, any document, authorization,
instrument or agreement executed by the Borrower on behalf of each of the Loan Parties.


 


10.10
Right of Contribution.


 


The
Guarantors agree among themselves that, in connection with payments made hereunder, each Guarantor shall have contribution rights against
the other Guarantors as permitted under Applicable Law.


 


10.11
Keepwell.


 


Each
Loan Party that is a Qualified ECP Guarantor at the time the Guaranty or the grant of a Lien under the Loan Documents, in each case,
by any Specified Loan Party becomes effective with respect to any Swap Obligation, hereby jointly and severally, absolutely, unconditionally
and irrevocably undertakes to provide such funds or other support to each Specified Loan Party with respect to such Swap Obligation as
may be needed by such Specified Loan Party from time to time to honor all of its obligations under the Loan Documents in respect of such
Swap Obligation (but, in each case, only up to the maximum amount of such liability that can be hereby incurred without rendering such
Qualified ECP Guarantor’s obligations and undertakings under this Article X voidable under Applicable Law relating to fraudulent
conveyance or fraudulent transfer, and not for any greater amount). The obligations and undertakings of each Qualified ECP Guarantor
under this Section 10.11 shall remain in full force and effect until the Secured Obligations have been indefeasibly paid and performed
in full. Each Loan Party intends this Section 10.11 to constitute, and this Section 10.11 shall be deemed to constitute,
a guarantee of the obligations of, and a “keepwell, support, or other agreement” for the benefit of, each Specified Loan
Party for all purposes of the Commodity Exchange Act.


 






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Article
XI



MISCELLANEOUS


 


11.01
Amendments, Etc.


 


(a)
Subject to Section 3.03 and the last paragraph of this Section 11.01, no amendment or waiver of any provision of this Agreement
or any other Loan Document, and no consent to any departure by the Borrower or any other Loan Party therefrom, shall be effective unless
in writing signed by the Required Lenders (or by the Administrative Agent with the consent of the Required Lenders) and the Borrower
or the applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and each such waiver or consent shall
be effective only in the specific instance and for the specific purpose for which given; provided that no such amendment, waiver
or consent shall:


 


(i)
waive any condition set forth in Section 4.01, or, in the case of the initial Credit Extension, Section 4.02, without the
written consent of each Lender;


 


(ii)
extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without the
written consent of such Lender (it being understood and agreed that a waiver of any condition precedent in Section 4.02 or of
any Default or a mandatory reduction in Commitments is not considered an extension or increase in Commitments of any Lender);


 


(iii)
postpone any date fixed by this Agreement or any other Loan Document for any payment (excluding mandatory prepayments) of principal,
interest, fees or other amounts due to the Lenders (or any of them) hereunder or under such other Loan Document without the written consent
of each Lender entitled to such payment;


 


(iv)
reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (v) of
the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document, without
the written consent of each Lender entitled to such amount; provided that only the consent of the Required Lenders shall be necessary
(i) to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest or Letter of
Credit Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the
effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to reduce any fee payable hereunder;


 


(v)
change (i) Section 8.03 or Section 2.13 in a manner that would have the effect of altering the ratable reduction of
Commitments, pro rata payments or pro rata sharing of payments required hereunder without the written consent of each Lender, or (ii) Section
2.12(f) in a manner that would alter the pro rata application required thereby without the written consent of each Lender directly
affected thereby;


 


(vi)
change any provision of this Section 11.01 or the definition of “Required Lenders” or any other provision of any Loan
Document specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or thereunder
or make any determination or grant any consent hereunder, without the written consent of each Lender;


 






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(vii)
(i) release all or substantially all of the Collateral in any transaction or series of related transactions, without the written consent
of each Lender or (ii) subordinate, or have the effect of subordinating, the Obligations hereunder to any other Indebtedness or other
obligation, in each case, without the written consent of each Lender;


 


(viii)
release, or have the effect of releasing, all or substantially all of the value of the Guaranty, without the written consent of each
Lender, except to the extent the release of any Subsidiary from the Guaranty is permitted pursuant to Section 9.10 (in which case
such release may be made by the Administrative Agent acting alone); or


 


(ix)
release the Borrower or permit the Borrower to assign or transfer any of its rights or obligations under this Agreement or the other
Loan Documents without the consent of each Lender;


 


and
provided further that (A) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition
to the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to
any Letter of Credit issued or to be issued by it; (B) no amendment, waiver or consent shall, unless in writing and signed by the
Swingline Lender in addition to the Lenders required above, affect the rights or duties of the Swingline Lender under this Agreement;
(C) 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 the Administrative Agent under this Agreement or any other Loan Document; and (D) the Fee
Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto.


 


(b)
Notwithstanding anything to the contrary herein, (i) no Defaulting Lender shall have any right to approve or disapprove any amendment,
waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected
Lender, or all Lenders or each affected Lender, may be effected with the consent of the applicable Lenders other than Defaulting Lenders),
except that (A) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and
(B) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender, or all Lenders or each affected
Lender, that by its terms affects any Defaulting Lender disproportionately adversely relative to other affected Lenders shall require
the consent of such Defaulting Lender; (ii) each Lender is entitled to vote as such Lender sees fit on any bankruptcy reorganization
plan that affects the Loans, and each Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code of the United
States supersedes the unanimous consent provisions set forth herein and (iii) the Required Lenders shall determine whether or not
to allow a Loan Party to use cash collateral in the context of a bankruptcy or insolvency proceeding and such determination shall be
binding on all of the Lenders.


 


(c)
Notwithstanding anything to the contrary herein, this Agreement may be amended and restated without the consent of any Lender (but with
the consent of the Borrower and the Administrative Agent) if, upon giving effect to such amendment and restatement, such Lender shall
no longer be a party to this Agreement (as so amended and restated), the Commitments of such Lender shall have terminated, such Lender
shall have no other commitment or other obligation hereunder and shall have been paid in full all principal, interest and other amounts
owing to it or accrued for its account under this Agreement.


 






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(d)
Notwithstanding any provision herein to the contrary, if the Administrative Agent and the Borrower acting together identify any ambiguity,
omission, mistake, typographical error or other defect in any provision of this Agreement or any other Loan Document (including the schedules
and exhibits thereto), then the Administrative Agent and the Borrower shall be permitted to amend, modify or supplement such provision
to cure such ambiguity, omission, mistake, typographical error or other defect, and such amendment shall become effective without any
further action or consent of any other party to this Agreement.


 


11.02
Notices; Effectiveness; Electronic Communications.


 


(a)
Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except
as provided in clause (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered
by hand or overnight courier service, mailed by certified or registered mail or sent by fax transmission or e-mail transmission as follows,
and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone
number, as follows:


 


(i)
if to the Borrower or any other Loan Party, the Administrative Agent, the L/C Issuer or the Swingline Lender, to the address, fax number,
e-mail address or telephone number specified for such Person on Schedule 1.01(a); and


 


(ii)
if to any other Lender, to the address, fax number, e-mail address or telephone number specified in its Administrative Questionnaire
(including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in
effect for the delivery of notices that may contain material non-public information relating to the Borrower).


 


Notices
and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have
been given when received; notices and other communications sent by fax transmission shall be deemed to have been given when sent (except
that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the
next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided
in clause (b) below shall be effective as provided in such clause (b).


 


(b)
Electronic Communications.


 


(i)
Notices and other communications to the Administrative Agent, the Lenders, the Swingline Lender and the L/C Issuer hereunder may be delivered
or furnished by electronic communication (including e-mail, FPML messaging, and Internet or intranet websites) pursuant to an electronic
communications agreement (or such other procedures approved by the Administrative Agent in its sole discretion); provided that
the foregoing shall not apply to notices to any Lender, the Swingline Lender or the L/C Issuer pursuant to Article II if
such Lender, the Swingline Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving
notices under such Article II by electronic communication. The Administrative Agent, the Swingline Lender, the L/C Issuer or the
Borrower may each, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant
to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications.


 






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(ii)
Unless the Administrative Agent otherwise prescribes, (A) notices and other communications sent to an e-mail address shall be deemed
received upon the sender’s receipt of an acknowledgment from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement) and (B) notices and other communications posted to an Internet
or intranet website shall be deemed received by the intended recipient upon the sender’s receipt of an acknowledgement from the
intended recipient (such as by the “return receipt requested” function, as available, return e-mail address or other written
acknowledgement) indicating that such notice or communication is available and identifying the website address therefor; provided
that for both clauses (A) and (B), if such notice or other communication is not sent during the normal business hours
of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of business on the next Business
Day for the recipient.


 


(c)
The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW)
DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY
FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS,
IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any
of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender,
the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise)
arising out of the Borrower’s, any Loan Party’s or the Administrative Agent’s transmission of Borrower Materials or
notices through the Platform, any other electronic platform or electronic messaging service, or through the Internet.


 


(d)
Change of Address, Etc. Each of the Borrower, the Administrative Agent, the L/C Issuer and the Swingline Lender may change its
address, fax number or telephone number or e-mail address for notices and other communications hereunder by written notice to the other
parties hereto. Each other Lender may change its address, fax number or telephone number or e-mail address for notices and other communications
hereunder by written notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swingline Lender. In addition, each Lender
agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective
address, contact name, telephone number, fax number and e-mail address to which notices and other communications may be sent and (ii) accurate
wire instructions for such Lender. Furthermore, each Public Lender agrees to cause at least one (1) individual at or on behalf of such
Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration
screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance
procedures and Applicable Law, including United States federal and state securities Laws, to make reference to Borrower Materials that
are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public
information with respect to the Borrower or its securities for purposes of United States federal or state securities laws.


 






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(e)
Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuer and the Lenders shall be entitled
to rely and act upon any notices (including, without limitation, telephonic or electronic notices, Loan Notices, Letter of Credit Applications,
Notice of Loan Prepayment and Swingline Loan Notices) purportedly given by or on behalf of any Loan Party 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 Loan Parties shall indemnify
the Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities
resulting from the reliance by such Person on each notice purportedly given by or on behalf of a Loan Party, other than such losses,
costs, expenses and liabilities resulting from reliance that constitutes gross negligence or willful misconduct of the Administrative
Agent, the L/C Issuer, any Lender and any Related Parties. All telephonic notices to and other telephonic communications with the Administrative
Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording.


 


11.03
No Waiver; Cumulative Remedies; Enforcement.


 


(a)
No failure by any Lender, the L/C Issuer 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 or under any other Loan Document 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.


 


(b)
Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies
hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions
and proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent
in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuer; provided that the foregoing shall
not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely
in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer or the Swingline Lender
from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer or Swingline Lender, as the case
may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section
11.08 (subject to the terms of Section 2.13), or (d) any Lender from filing proofs of claim or appearing and filing pleadings
on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and provided further
that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the
Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in
addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section
2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized
by the Required Lenders.


 






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11.04
Expenses; Indemnity; Damage Waiver.


 


(a)
Costs and Expenses. The Loan Parties shall pay (i) all reasonable and documented out-of-pocket expenses incurred by the Administrative
Agent and its Affiliates (including, but not limited to, (A) the reasonable and documented fees, charges and disbursements of outside
counsel for the Administrative Agent and its Affiliates and (B) due diligence expenses), in connection with the syndication of the credit
facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other
Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated
hereby or thereby shall be consummated), (ii) all reasonable and documented out-of-pocket expenses incurred by the L/C Issuer in
connection with the issuance, amendment, extension, reinstatement or renewal of any Letter of Credit or any demand for payment thereunder
and (iii) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent, any Lender or the L/C Issuer
(including the documented fees, charges and disbursements of any outside counsel for the Administrative Agent, any Lender or the L/C
Issuer), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan
Documents, including its rights under this Section 11.04, or (B) in connection with Loans made or Letters of Credit issued
hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans
or Letters of Credit.


 


(b)
Indemnification by the Loan Parties. The Loan Parties shall indemnify the Administrative Agent (and any sub-agent thereof), each
Lender and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the
reasonable and documented fees, charges and disbursements of any outside counsel for any Indemnitee), incurred by any Indemnitee or asserted
against any Indemnitee by any Person (including the Borrower or any other Loan Party) arising out of, in connection with, or as a result
of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or
thereby (including, without limitation, the Indemnitee’s reliance on any Communication executed using an Electronic Signature,
or in the form of an Electronic Record, the performance by the parties hereto of their respective obligations hereunder or thereunder
or the consummation of the transactions contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent
thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents (including in respect of any
matters addressed in Section 3.01), (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any
refusal by the 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), (iii) any actual or alleged presence or Release of Hazardous Materials
on or from any property owned, leased or operated by a Loan Party or any of its Subsidiaries, or any Environmental Liability related
in any way to a Loan Party or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower
or any other Loan Party, and regardless of whether any Indemnitee is a party thereto, or (v) any action taken by the Administrative Agent
or any Lender to comply with Applicable Law, including Sanctions; provided that such indemnity shall not, as to any Indemnitee,
be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent
jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee
or (y) result from a claim not involving an act or omission of the Borrower and that is brought by an Indemnitee against another Indemnitee
(other than against the Arranger, the Administrative Agent, the L/C Issuer or the Swingline Lender in their capacities as such). Without
limiting the provisions of Section 3.01(c), this Section 11.04(b) shall not apply with respect to Taxes other than
any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.


 






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(c)
Reimbursement by Lenders. To the extent that the Loan Parties for any reason fail to indefeasibly pay any amount required under
clauses (a) or (b) of this Section 11.04 to be paid by it to the Administrative Agent (or any sub-agent
thereof), the L/C Issuer, the Swingline Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to the
Administrative Agent (or any such sub-agent), the L/C Issuer, the Swingline Lender or such Related Party, as the case may be, such Lender’s
pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s
share of the Total Revolving Exposure at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted
by such Lender), such payment to be made severally among them based on such Lender’s Applicable Percentage (determined as of the
time that the applicable unreimbursed expense or indemnity payment is sought), provided that the unreimbursed expense or indemnified
loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or
any such sub-agent), the L/C Issuer or the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing
acting for the Administrative Agent (or any such sub-agent), the L/C Issuer or the Swingline Lender in connection with such capacity.
The obligations of the Lenders under this clause (c) are subject to the provisions of Section 2.12(d).


 


(d)
Waiver of Consequential Damages, Etc. To the fullest extent permitted by Applicable Law, neither the Administrative Agent or the
Lenders on the one hand nor any Loan Party on the other hand shall assert against any other party hereto, and each such party hereto
waives, and acknowledges that no other Person shall have, any claim against any Indemnitee, on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result
of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby
or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in clause (b) above
shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such
unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection
with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.


 


(e)
Payments. All amounts due under this Section 11.04 shall be payable not later than ten (10) Business Days after demand
therefor.


 


(f)
Survival. The agreements in this Section 11.04 and the indemnity provisions of Section 11.02(e) shall survive the
resignation of the Administrative Agent, the L/C Issuer and the Swingline Lender, the replacement of any Lender, the termination of the
Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations.


 


11.05
Payments Set Aside.


 


To
the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent, the L/C Issuer or any Lender, or the
Administrative Agent, the L/C Issuer 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 the Administrative Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee,
receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent
of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and
effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and the L/C Issuer severally agrees
to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by
the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal
to the Federal Funds Rate from time to time in effect. The obligations of the Lenders and the L/C Issuer under clause (b) of the
preceding sentence shall survive the payment in full of the Obligations and the termination of this Agreement.


 






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11.06
Successors and Assigns.


 


(a)
Successors and Assigns Generally. The provisions of this Agreement and the other Loan Documents shall be binding upon and inure
to the benefit of the parties hereto and thereto and their respective successors and assigns permitted hereby, except neither the Borrower
nor any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent
of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder
except (i) to an assignee in accordance with the provisions of Section 11.06(b), (ii) by way of participation in accordance
with the provisions of Section 11.06(d), or (iii) by way of pledge or assignment of a security interest subject to the restrictions
of Section 11.06(e) (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 11.06(d) and, to the extent expressly contemplated
hereby, the Related Parties of each of the Administrative Agent, the L/C Issuer and the Lenders) any legal or equitable right, remedy
or claim under or by reason of this Agreement.


 


(b)
Assignments by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations
under this Agreement and the other Loan Documents (including all or a portion of its Commitment(s) and the Loans (including for purposes
of this clause (b), participations in L/C Obligations and in Swingline Loans) at the time owing to it); provided that
any such assignment shall be subject to the following conditions:


 


(i)
Minimum Amounts.


 


(A)
in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and/or the Loans at the time owing
to it or contemporaneous assignments to related Approved Funds (determined after giving effect to such assignments) that equal at least
the amount specified in clause (b)(i)(B) of this Section 11.06 in the aggregate or in the case of an assignment to a Lender,
an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and


 


(B)
in any case not described in clause (b)(i)(A) of this Section 11.06, the aggregate amount of the Commitment (which for
this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of
the 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 or, if “Trade Date” is specified in the Assignment and Assumption,
as of the Trade Date, shall not be less than $5,000,000, unless each of the Administrative Agent and, so long as no Event of Default
has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed).


 






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(ii)
Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s
rights and obligations under this Agreement and the other Loan Documents with respect to the Loans and/or the Commitment assigned, except
that this clause (b)(ii) shall not apply to the Swingline Lender’s rights and obligations in respect of Swingline Loans.


 


(iii)
Required Consents. No consent shall be required for any assignment except to the extent required by clause (b)(i)(B) of
this Section 11.06 and, in addition:


 


(A)
the consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default
has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or
an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto
by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof; and provided further
that the Borrower’s consent shall not be required during the primary syndication;


 


(B)
the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required for assignments if
such assignment is to a Person that is not a Lender with a Commitment, an Affiliate of such Lender or an Approved Fund with respect to
such Lender; and


 


(C)
the consent of the L/C Issuer and the Swingline Lender shall be required for any assignment.


 


(iv)
Assignment and Assumption. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment
and Assumption, together with a processing and recordation fee in the amount of $3,500 (which shall be for the account of the applicable
Lender); provided that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee
in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.


 


(v)
No Assignment to Certain Persons. No such assignment shall be made (A) to the Borrower or any of the Borrower’s Affiliates
or Subsidiaries, (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would
constitute any of the foregoing Persons described in this clause (B), or (C) to a natural Person (or a holding company, investment
vehicle or trust for, or owned and operated by or for the primary benefit of one or more natural Persons).


 


(vi)
Certain Additional Payments. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no
such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the
assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof
as appropriate (which may be outright payment, purchases by the assignee of participations or sub-participations, or other compensating
actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously
requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent),
to (A) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the L/C
Issuer or any Lender hereunder (and interest accrued thereon) and (B) acquire (and fund as appropriate) its full pro rata share
of all Loans and participations in Letters of Credit and Swingline Loans in accordance with its Applicable Percentage. Notwithstanding
the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under
Applicable Law without compliance with the provisions of this clause (b)(vi), then the assignee of such interest shall be deemed
to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.


 






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(vii)
Subject to acceptance and recording thereof by the Administrative Agent pursuant to Section 11.06(c), from and after the effective
date specified in each Assignment and Assumption, the 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 and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment);
provided that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will
constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.
Upon request, 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 (b) 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 11.06(d).


 


(c)
Register. The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower (and such agency being
solely for Tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered
to it (or the equivalent thereof in electronic form) and a register, maintained in a manner to comply with Section 5f.103-1(c) of the
United States Treasury Regulations, for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal
amounts (and interest amounts) of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time
(the “Register”). The entries in the Register shall be conclusive, absent manifest error, and the Borrower,
the Administrative Agent 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. The Register shall be available for inspection by the Borrower and any Lender
(with respect to such Lender’s interest only), at any reasonable time and from time to time upon reasonable prior notice.


 


(d)
Participations.


 


(i)
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, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit
of one or more natural Persons, a Defaulting Lender or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (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
Swingline 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 Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely and directly with such Lender in connection
with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for
the indemnity under Section 11.04(c) without regard to the existence of any participations.


 






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(ii)
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 to approve any amendment, modification or waiver of any provision of this Agreement; 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 11.01 that affects such Participant. The Borrower
agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 (subject to the requirements
and limitations therein, including the requirements under Section 3.01(e) (it being understood that the documentation required
under Section 3.01(e) shall be delivered to the Lender who sells the participation)) to the same extent as if it were a Lender
and had acquired its interest by assignment pursuant to clause (b) of this Section 11.06; provided that such Participant
(A) shall be subject to the provisions of Sections 3.06 and 11.13 as if it were an assignee under clause (b)
of this Section 11.06 and (B) shall not be entitled to receive any greater payment under Sections 3.01 or 3.04,
with respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive,
except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired
the applicable participation. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable
efforts to cooperate with the Borrower to effectuate the provisions of Section 3.06 with respect to any Participant. To the extent
permitted by law, each Participant also shall be entitled to the benefits of Section 11.08 as though it were a Lender; provided
that such Participant agrees to be subject to Section 2.13 as though it were a Lender. Each Lender that sells a participation
shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register, maintained in a manner to comply
with Section 5f.103-1(c) of the United States Treasury Regulations on which it enters the name and address of each Participant and the
principal amounts (and interest amounts) of each Participant’s interest in the Loans or other obligations under the Loan Documents
(the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any
portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest
in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that
such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under
Section 5f.103–1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent
manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation
for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in
its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.


 


(e)
Certain Pledges. 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 or Notes, 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.


 






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(f)
Resignation as L/C Issuer or Swingline Lender after Assignment. Notwithstanding anything to the contrary contained herein, if
at any time Citibank assigns all of its Revolving Commitment and Revolving Loans pursuant to clause (b) above, Citibank may,
(i) upon thirty (30) days’ notice to the Administrative Agent, the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon
thirty (30) days’ notice to the Borrower, resign as Swingline Lender. In the event of any such resignation as L/C Issuer or Swingline
Lender, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swingline Lender hereunder; provided
that no failure by the Borrower to appoint any such successor shall affect the resignation of Citibank as L/C Issuer or Swingline
Lender, as the case may be. If Citibank resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C
Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as 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 Citibank resigns as Swingline Lender, it shall retain all the rights
of the Swingline Lender provided for hereunder with respect to Swingline 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 Swingline
Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or Swingline Lender, (A) such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swingline
Lender, as the case may be, and (B) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit,
if any, outstanding at the time of such succession or make other arrangements satisfactory to Citibank to effectively assume the obligations
of Citibank with respect to such Letters of Credit.


 


11.07
Treatment of Certain Information; Confidentiality.


 


(a)
Treatment of Certain Information. Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain the confidentiality
of the Information (as defined below), except that Information may be disclosed (i) to its Affiliates, its auditors and its Related
Parties (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), (ii) to the extent required or requested by any regulatory authority purporting
to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association
of Insurance Commissioners), (iii) to the extent required by Applicable Laws or regulations or by any subpoena or similar legal
process, (iv) to any other party hereto, (v) in connection with the exercise of any remedies hereunder or under any other Loan
Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or
thereunder, (vi) subject to an agreement containing provisions substantially the same as those of this Section 11.07, to
(A) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under
this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.16(c) or (B) any actual or prospective
party (or its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference to the Borrower
and its obligations, this Agreement or payments hereunder, (vii) on a confidential basis to (A) any rating agency in connection
with rating the Borrower or its Subsidiaries or the credit facilities provided hereunder or (B) the provider of any Platform or
other electronic delivery service used by the Administrative Agent, the L/C Issuer and/or the Swingline Lender to deliver Borrower Materials
or notices to the Lenders or (viii) the CUSIP Service Bureau or any similar agency in connection with the application, issuance, publishing
and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities provided hereunder, or (ix) with
the consent of the Borrower or to the extent such Information (x) becomes publicly available other than as a result of a breach
of this Section 11.07, (xi) becomes available to the Administrative Agent, any Lender, the L/C Issuer or any of their respective
Affiliates on a nonconfidential basis from a source other than the Borrower or (xii) is independently discovered or developed by a party
hereto without utilizing any Information received from the Borrower or violating the terms of this Section 11.07. For purposes
of this Section 11.07, “Information” means all information received from the Borrower or any Subsidiary
relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to
the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary.
Any Person required to maintain the confidentiality of Information as provided in this Section 11.07 shall be considered to have
complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information
as such Person would accord to its own confidential information. In addition, the Administrative Agent and the Lenders may disclose the
existence of this Agreement and information about this Agreement to market data collectors, similar service providers to the lending
industry and service providers to the Administrative Agent and the Lenders in connection with the administration of this Agreement, the
other Loan Documents and the Commitments.


 






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(b)
Non-Public Information. Each of the Administrative Agent, the Lenders and the L/C Issuer acknowledges that (i) the Information
may include material non-public information concerning a Loan Party or a Subsidiary, as the case may be, (ii) it has developed compliance
procedures regarding the use of material non-public information and (iii) it will handle such material non-public information in
accordance with Applicable Law, including United States federal and state securities Laws.


 


(c)
Press Releases. The Loan Parties and their Affiliates agree that they will not in the future issue any press releases or other
public disclosure using the name of the Administrative Agent or any Lender or their respective Affiliates or referring to this Agreement
or any of the Loan Documents without the prior written consent of the Administrative Agent (such consent not to be unreasonably withheld,
conditioned or delayed), unless (and only to the extent that) the Loan Parties or such Affiliate is required to do so under law and then,
in any event the Loan Parties or such Affiliate will consult with such Person before issuing such press release or other public disclosure.


 


(d)
Customary Advertising Material. The Loan Parties consent to the publication by the Administrative Agent or any Lender of customary
advertising material relating to the transactions contemplated hereby using the name, product photographs, logo or trademark of the Loan
Parties.


 


11.08
Right of Setoff.


 


If
an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their respective Affiliates is hereby
authorized at any time and from time to time, 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, in whatever currency) at any time held and other obligations (in whatever
currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrower
or any other Loan Party against any and all of the obligations of the Borrower or such Loan Party now or hereafter existing under this
Agreement or any other Loan Document to such Lender, the L/C Issuer or such Affiliates, irrespective of whether or not such Lender, the
L/C Issuer or Affiliate shall have made any demand under this Agreement or any other Loan Document and although such obligations of the
Borrower or such Loan Party may be contingent or unmatured, secured or unsecured, or are owed to a branch, office or Affiliate of such
Lender or the L/C Issuer different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided
that in the event that any Defaulting Lender shall exercise any such right of setoff, (a) all amounts so set off shall be paid
over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.15 and,
pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of
the Administrative Agent, the L/C Issuer and the Lenders, and (b) the Defaulting Lender shall provide promptly to the Administrative
Agent a statement describing in reasonable detail the Secured Obligations owing to such Defaulting Lender as to which it exercised such
right of setoff. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section 11.08 are in addition
to other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer or their respective Affiliates may have
under Applicable Law. Each Lender and the L/C Issuer agrees to notify the Borrower and the Administrative Agent promptly after any such
setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application. Notwithstanding
the provisions of this Section 11.08, if at any time any Lender, the L/C Issuer or any of their respective Affiliates maintains
one or more deposit accounts for the Borrower or any other Loan Party into which Medicare and/or Medicaid receivables are deposited,
such Person shall waive the right of setoff set forth herein.


 






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11.09
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 the Administrative
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 the Administrative 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.


 


11.10
Integration; Effectiveness.


 


This
Agreement, the other Loan Documents, and any separate letter agreements with respect to fees payable to the Administrative Agent or the
L/C Issuer, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous
agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01,
this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent
shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto, and thereafter
shall be binding upon and inure to the benefit of the parties hereto and their respective successor and assigns.


 


11.11
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 the Administrative Agent and each Lender, regardless of any investigation made by the Administrative
Agent or any Lender or on their behalf and notwithstanding that the Administrative 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.


 


11.12
Severability.


 


If
any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity
and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby
and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity
of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without
limiting the foregoing provisions of this Section 11.12, if and to the extent that the enforceability of any provisions in this
Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent,
the L/C Issuer or the Swingline Lender, as applicable, then such provisions shall be deemed to be in effect only to the extent not so
limited.


 






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11.13
Replacement of Lenders.


 


(a)
If the Borrower is entitled to replace a Lender pursuant to the provisions of Section 3.06, or if any Lender is a Defaulting
Lender or a Non-Consenting Lender or if any other circumstance exists hereunder that gives the Borrower the right to replace a Lender
as a party hereto, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require
such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required
by, Section 11.06), all of its interests, rights (other than its existing rights to payments pursuant to Sections 3.01
and 3.04) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such
obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that:


 


(i)
the Borrower shall have paid to the Administrative Agent the assignment fee (if any) specified in Section 11.06(b);


 


(ii)
such Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans and L/C Advances, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts
under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the
Borrower (in the case of all other amounts);


 


(iii)
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 thereafter;


 


(iv)
such assignment does not conflict with Applicable Laws; and


 


(v)
in the case of an assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented to
the applicable amendment, waiver or consent.


 


(b)
A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply.


 


(c)
Each party hereto agrees that (i) an assignment required pursuant to this Section 11.13 may be effected pursuant to an Assignment
and Assumption executed by the Borrower, the Administrative Agent and the assignee and (ii) the Lender required to make such assignment
need not be a party thereto in order for such assignment to be effective and shall be deemed to have consented to an be bound by the
terms thereof; provided that following the effectiveness of any such assignment, the other parties to such assignment agree to
execute and deliver such documents necessary to evidence such assignment as reasonably requested by the applicable Lender, provided
further that any such documents shall be without recourse to or warranty by the parties thereto.


 






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(d)
Notwithstanding anything in this Section 11.13 to the contrary, (A) the Lender that acts as the L/C Issuer may not be replaced
hereunder at any time it has any Letter of Credit outstanding hereunder unless arrangements satisfactory to such Lender (including the
furnishing of a backstop standby letter of credit in form and substance, and issued by an issuer, reasonably satisfactory to the L/C
Issuer or the depositing of Cash Collateral into a Cash Collateral account in amounts and pursuant to arrangements reasonably satisfactory
to the L/C Issuer) have been made with respect to such outstanding Letter of Credit and (B) the Lender that acts as the Administrative
Agent may not be replaced hereunder except in accordance with the terms of Section 9.06.


 


11.14
Governing Law; Jurisdiction; Etc.


 


(a)
GOVERNING LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN)
AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING
TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS
CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.


 


(b)
SUBMISSION TO JURISDICTION. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE
ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE,
AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER, THE L/C ISSUER, OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK
SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM
ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT
ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH
ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER
MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT,
ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT
AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.


 






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(c)
WAIVER OF VENUE. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN CLAUSE (b) OF THIS SECTION 11.14.
THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE
DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.


 


(d)
SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02.
NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.


 


11.15
Waiver of Jury Trial.


 


EACH
PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN
ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (a) CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER AND (b) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 11.15.


 


11.16
Subordination.


 


Each
Loan Party (a “Subordinating Loan Party”) hereby subordinates the payment of all obligations and indebtedness
of any other Loan Party owing to it, whether now existing or hereafter arising, including but not limited to any obligation of any such
other Loan Party to the Subordinating Loan Party as subrogee of the Secured Parties or resulting from such Subordinating Loan Party’s
performance under this Guaranty, to the indefeasible payment in full in cash of all Obligations. If the Secured Parties so request, any
such obligation or indebtedness of any such other Loan Party to the Subordinating Loan Party shall be enforced and performance received
by the Subordinating Loan Party as trustee for the Secured Parties and the proceeds thereof shall be paid over to the Secured Parties
on account of the Secured Obligations, but without reducing or affecting in any manner the liability of the Subordinating Loan Party
under this Agreement. Without limitation of the foregoing, so long as no Default has occurred and is continuing, the Loan Parties may
make and receive payments with respect to Intercompany Debt; provided that in the event that any Loan Party receives any payment
of any Intercompany Debt at a time when such payment is prohibited by this Section 11.16, such payment shall be held by such Loan
Party, in trust for the benefit of, and shall be paid forthwith over and delivered, upon written request, to the Administrative Agent.


 






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11.17
No Advisory or Fiduciary Responsibility.


 


In
connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification
hereof or of any other Loan Document), the Borrower and each other Loan Party acknowledges and agrees, and acknowledges its Affiliates’
understanding, that: (a) (i) the arranging and other services regarding this Agreement provided by the Administrative Agent,
the Arranger and the Lenders and their respective Affiliates are arm’s-length commercial transactions between the Borrower, each
other Loan Party and their respective Affiliates, on the one hand, and the Administrative Agent, the Arranger and the Lenders and their
respective Affiliates, on the other hand, (ii) each of the Borrower and the other Loan Parties has consulted its own legal, accounting,
regulatory and tax advisors to the extent it has deemed appropriate, and (iii) the Borrower and each other Loan Party is capable
of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other
Loan Documents; (b) (i) the Administrative Agent, the Arranger and each Lender and each of their respective Affiliates each
is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not,
and will not be acting as an advisor, agent or fiduciary, for the Borrower, any other Loan Party or any of their respective Affiliates,
or any other Person and (ii) neither the Administrative Agent, the Arranger, nor any Lender nor any of their respective Affiliates
has any obligation to the Borrower, any other Loan Party or any of their respective Affiliates with respect to the transactions contemplated
hereby except those obligations expressly set forth herein and in the other Loan Documents; and (c) the Administrative Agent, the
Arranger and the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that
differ from those of the Borrower, the other Loan Parties and their respective Affiliates, and neither the Administrative Agent, the
Arranger, nor any Lender nor any of their respective Affiliates has any obligation to disclose any of such interests to the Borrower,
any other Loan Party or any of their respective Affiliates. To the fullest extent permitted by law, each of the Borrower and each other
Loan Party hereby waives and releases any claims that it may have against the Administrative Agent, the Arranger, the Lenders and their
respective Affiliates with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transactions
contemplated hereby.


 


11.18
Electronic Execution; Electronic Records; Counterparts.


 


This
Agreement, any Loan Document and any other Communication, including Communications required to be in writing, may be in the form of an
Electronic Record and may be executed using Electronic Signatures. Each of the Loan Parties and each of the Administrative Agent, the
L/C Issuer, the Swingline Lender, and each Lender (collectively, each a “Credit Party”) agrees that any Electronic
Signature on or associated with any Communication shall be valid and binding on such Person to the same extent as a manual, original
signature, and that any Communication entered into by Electronic Signature, will constitute the legal, valid and binding obligation of
such Person enforceable against such Person in accordance with the terms thereof to the same extent as if a manually executed original
signature was delivered.   Any Communication may be executed in as many counterparts as necessary or convenient, including
both paper and electronic counterparts, but all such counterparts are one and the same Communication.  For the avoidance of doubt,
the authorization under this paragraph may include, without limitation, use or acceptance of a manually signed paper Communication which
has been converted into electronic form (such as scanned into PDF format), or an electronically signed Communication converted into another
format, for transmission, delivery and/or retention. The Administrative Agent and each of the Credit Parties may, at its option, create
one or more copies of any Communication in the form of an imaged Electronic Record (“Electronic Copy”), which
shall be deemed created in the ordinary course of such Person’s business, and destroy the original paper document.  All Communications
in the form of an Electronic Record, including an Electronic Copy, shall be considered an original for all purposes, and shall have the
same legal effect, validity and enforceability as a paper record. Notwithstanding anything contained herein to the contrary, neither
the Administrative Agent, L/C Issuer nor Swingline Lender is under any obligation to accept an Electronic Signature in any form or in
any format unless expressly agreed to by such Person pursuant to procedures approved by it; provided that, without limiting the
foregoing, (a) to the extent the Administrative Agent, L/C Issuer and/or Swingline Lender has agreed to accept such Electronic Signature,
the Administrative Agent and each of the Credit Parties shall be entitled to rely on any such Electronic Signature purportedly given
by or on behalf of any Loan Party and/or any Credit Party without further verification and (b) upon the request of the Administrative
Agent or any Credit Party, any Electronic Signature shall be promptly followed by such manually executed counterpart.  For purposes
hereof, “Electronic Record” and “Electronic Signature” shall have the meanings assigned
to them, respectively, by 15 USC §7006, as it may be amended from time to time.


 






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Neither
the Administrative Agent, L/C Issuer nor Swingline Lender shall be responsible for or have any duty to ascertain or inquire into the
sufficiency, validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document
(including, for the avoidance of doubt, in connection with the Administrative Agent’s, L/C Issuer’s or Swingline Lender’s
reliance on any Electronic Signature transmitted by telecopy, emailed .pdf or any other electronic means). The Administrative Agent,
L/C Issuer and Swingline Lender shall be entitled to rely on, and shall incur no liability under or in respect of this Agreement or any
other Loan Document by acting upon, any Communication (which writing may be a fax, any electronic message, Internet or intranet website
posting or other distribution or signed using an Electronic Signature) or any statement made to it orally or by telephone and believed
by it to be genuine and signed or sent or otherwise authenticated (whether or not such Person in fact meets the requirements set forth
in the Loan Documents for being the maker thereof).


 


Each
of the Loan Parties and each Credit Party hereby waives (i) any argument, defense or right to contest the legal effect, validity or enforceability
of this Agreement and/or any other Loan Document based solely on the lack of paper original copies of this Agreement and/or such other
Loan Document, and (ii) waives any claim against the Administrative Agent, each Credit Party and each Related Party for any liabilities
arising solely from the Administrative Agent’s and/or any Credit Party’s reliance on or use of Electronic Signatures, including
any liabilities arising as a result of the failure of the Loan Parties to use any available security measures in connection with the
execution, delivery or transmission of any Electronic Signature.


 


11.19
USA Patriot Act Notice.


 


Each
Lender that is subject to the Patriot Act and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the
Borrower and the other Loan Parties that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107–56 (signed
into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information that
identifies the Borrower and each other Loan Party, which information includes the name and address of the Borrower and each other Loan
Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower and each
other Loan Party in accordance with the Patriot Act. The Borrower and each other Loan Party shall, promptly following a request by the
Administrative Agent or any Lender, provide all such other documentation and information that the Administrative Agent or such Lender
requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering
rules and regulations, including the Patriot Act.


 


11.20
Acknowledgement and Consent to Bail-In of Affected Financial Institutions.


 


Solely
to the extent any Lender or L/C Issuer that is an Affected Financial Institution is a party to this Agreement and notwithstanding anything
to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto
acknowledges that any liability of any Lender or L/C Issuer that is an Affected Financial Institution arising under any Loan Document,
to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of an Resolution Authority and agrees
and consents to, and acknowledges and agrees to be bound by:


 


(a)
the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder
which may be payable to it by any Lender or L/C Issuer that is an Affected Financial Institution; and


 






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(b)
the effects of any Bail-In Action on any such liability, including, if applicable:


 


(i)
a reduction in full or in part or cancellation of any such liability;


 


(ii)
a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution,
its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other
instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any
other Loan Document; or


 


(iii)
the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable
Resolution Authority.


 


11.21
Acknowledgement Regarding Any Supported QFCs.


 


To
the extent that the Loan Documents provide support, through a guarantee or otherwise, for any Swap Contract or any other agreement or
instrument that is a QFC (such support, “QFC Credit Support”, and each such QFC, a “Supported QFC”),
the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under
the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations
promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit
Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to
be governed by the laws of the State of New York and/or of the United States or any other state of the United States): In the event a
Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under
a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and
obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such
QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special
Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed
by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party
becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise
apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised
to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the
Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it
is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights
of any Covered Party with respect to a Supported QFC or any QFC Credit Support.


 






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IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.


 


	 	DOCGO INC.,
	 	as the Borrower
	 	 	 
	 	By:	/s/
Andre Oberholzer                 
	 	 	Name: 	 Andre Oberholzer
	 	 	Title:	 Chief Financial Officer
	 	 	 
	 	AMBULNZ, INC.,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	 Andre Oberholzer
	 	 	Title:	 Authorized Signatory
	 	 	 
	 	AMBULNZ HOLDINGS, LLC,
	 	as a Guarantor
	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	 Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	GOVERNMENT MEDICAL SERVICES, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	AMBULNZ NY, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name: 	Andre Oberholzer
	 	 	Title:	Authorized Signatory



 


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	 	DARA TECHNOLOGIES, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name: 	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	RAPID RELIABLE TESTING, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	 Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	MEDRESPONSE, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	AMBULNZ NY 5, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	AMBULNZ RE 1, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory



 


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	 	RAPID RELIABLE TESTING NY, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	 Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	FIRST RESPONDER SERVICES, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name: 	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	MEDRESPONSE CA, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	RAPID RELIABLE TESTING CA, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	 Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	AMBULNZ WI, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory



 


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	 	RYAN BROS. FORT ATKINSON, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name: 	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	RY AN BROS. AMBULANCE, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	AMBULNZ GA, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	AMBULNZ TN, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	RAPID TEMPS, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory



 


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	 	EXCEPTIONAL MEDICAL TRANSPORTATION, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	 Authorized Signatory
	 	 	 
	 	AMBULNZ AL, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory
	 	 	 
	 	MBULNZ UK, LLC,
	 	as a Guarantor
	 	 	 
	 	By:	/s/ Andre Oberholzer
	 	 	Name:	Andre Oberholzer
	 	 	Title:	Authorized Signatory


 


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	 	CITIBANK, N.A.,
	 	as the Administrative Agent
	 	 	 
	 	By:	/s/ Matthew Cataldi
	 	 	Name: 	Matthew Cataldi
	 	 	Title:	Authorized Signer



 


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	 	CITIBANK, N.A.,
	 	as a Lender, L/C Issuer and Swingline Lender
	 	 	 
	 	By:	/s/ Matthew Cataldi
	 	 	Name: 	Matthew Cataldi
	 	 	Title:	Authorized Signer



 


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	 	Bank of West,
	 	as a Lender
	 	 	 
	 	By:	/s/ Jeffrey Toner
	 	 	Name: 	Jeffrey Toner
	 	 	Title:	Director



 


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