Exhibit 10.1 


EXECUTION
VERSION


SECOND
LIEN NOTES PLEDGE AND SECURITY AGREEMENT


dated
as of December 5, 2016


among


EACH
OF THE GRANTORS PARTY HERETO


and


WILMINGTON
TRUST, NATIONAL ASSOCIATION,


as
Collateral Trustee




    	 



    	 



    

TABLE
OF CONTENTS



	 	 	Page
	Section 1.	DEFINITIONS; GRANT OF SECURITY	1
	 	 	 
	1.1	General Definitions	1
	1.2	Definitions; Interpretation	8
	 	 	 
	Section 2.	GRANT OF SECURITY	9
	 	 	 
	2.1	Grant of Security	9
	2.2	Certain Limited Exclusions	10
	 	 	 
	Section 3.	SECURITY FOR OBLIGATIONS; GRANTORS REMAIN LIABLE	12
	 	 	 
	3.1	Security for Obligations	12
	3.2	Continuing Liability Under Collateral	12
	 	 	 
	Section 4.	CERTAIN PERFECTION REQUIREMENTS.	13
	 	 	 
	4.1	Delivery Requirements	13
	4.2	Control Requirements	13
	4.3	Intellectual Property Recording Requirements	14
	4.4	Other Actions	14
	4.5	Timing and Notice	15
	 	 	 
	Section 5.	REPRESENTATIONS AND WARRANTIES	15
	 	 	 
	5.1	Grantor Information & Status	15
	5.2	Collateral Identification, Special Collateral	15
	5.3	Ownership of Collateral and Absence of Other Liens	16
	5.4	Status of Security Interest	17
	5.5	Pledged Equity Interests, Investment Related Property	17
	5.6	Intellectual Property	18
	 	 	 
	Section 6.	COVENANTS AND AGREEMENTS.	19
	 	 	 
	6.1	Grantor Information & Status	19
	6.2	Collateral Identification; Special Collateral	19
	6.3	Ownership of Collateral and Absence of Other Liens	20
	6.4	Status of Security Interest	20
	6.5	Receivables	20
	6.6	Pledged Equity Interests, Investment Related Property	21
	6.7	Intellectual Property	23
	 	 	 
	Section 7.	ACCESS; RIGHT OF INSPECTION AND FURTHER ASSURANCES; ADDITIONAL GRANTORS	24
	 	 	 
	7.1	Access; Right of Inspection	24
	7.2	Further Assurances	24
	7.3	Additional Grantors	25
	




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	Section 8.	COLLATERAL AGENT APPOINTED ATTORNEY-IN-FACT	25
	 	 	 
	8.1	Power of Attorney	25
	8.2	No Duty on the Part of Collateral Trustee or Secured Parties	26
	 	 	 
	Section 9.	REMEDIES	27
	 	 	 
	9.1	Generally	27
	9.2	Application of Proceeds	28
	9.3	Sales on Credit	28
	9.4	Investment Related Property	28
	9.5	Grant of Intellectual Property License	29
	9.6	Intellectual Property	29
	9.7	Cash Proceeds; Deposit Accounts	30
	 	 	 
	Section 10.	COLLATERAL AGENT	30
	 	 	 
	Section 11.	CONTINUING SECURITY INTEREST; ASSIGNMENTS UNDER THE INDENTURE DOCUMENTS	31
	 	 	 
	11.1	Continuing Security Interest; Assignment	31
	11.2	Termination; Release	31
	 	 	 
	Section 12.	STANDARD OF CARE; COLLATERAL AGENT MAY PERFORM	31
	 	 	 
	Section 13.	[RESERVED]	32
	 	 	 
	Section 14.	[RESERVED]	32
	 	 	 
	Section 15.	MISCELLANEOUS	32


 


	SCHEDULE 5.1 — GENERAL INFORMATION
	SCHEDULE 5.2 — COLLATERAL IDENTIFICATION
	SCHEDULE 5.4 — FINANCING STATEMENTS
	EXHIBIT A — PLEDGE SUPPLEMENT
	EXHIBIT B — UNCERTIFICATED SECURITIES CONTROL AGREEMENT
	EXHIBIT C — FORM OF TRADEMARK SECURITY AGREEMENT
	EXHIBIT D — FORM OF COPYRIGHT SECURITY AGREEMENT
	EXHIBIT E — FORM OF PATENT SECURITY AGREEMENT









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This
SECOND LIEN NOTES PLEDGE AND SECURITY AGREEMENT, dated as of December 5, 2016 (this “Agreement”),
among Ocwen Loan Servicing, LLC, a Delaware limited liability company (the “Company”) and a wholly-owned subsidiary
of Ocwen Financial Corporation, a Florida corporation (the “Parent”), the Parent, each of the other subsidiaries
of the Parent party hereto from time to time, whether as an original signatory hereto or as an Additional Grantor (as herein defined)
(the “Subsidiary Guarantors”, together with the Parent, the “Guarantors”, and together with
the Company, the “Grantors” and each, a “Grantor”), and Wilmington Trust, National Association,
as collateral trustee for the Secured Parties (as herein defined) (in such capacity as collateral trustee, together with its successors
and permitted assigns, the “Collateral Trustee”).


RECITALS:


WHEREAS,
reference is made to that certain Indenture, dated as of the date hereof (as it may be amended, restated, supplemented or otherwise
modified from time to time, the “Indenture”), by and among the Company, the Parent, the other subsidiary guarantors
of the Parent party thereto, Wilmington Trust, National Association, in its capacity as Trustee (as defined below) and as Collateral
Trustee, pursuant to which the Company has issued $350,000,000 aggregate principal amount of 8.375% Senior Secured Second Lien
Notes due 2022 (together with any Additional Notes issued under the Indenture, the “Notes”) upon the terms
and subject to the conditions set forth therein;


WHEREAS,
it is a condition to the issuance of the Notes that each Grantor executes and deliver the applicable Security Documents, including
this Agreement;


WHEREAS,
pursuant to the Indenture, each Guarantor from time to time party thereto has unconditionally and irrevocably guaranteed, the
prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Notes
Obligations (as defined below);


WHEREAS,
each Grantor is executing and delivering this Agreement pursuant to the terms of the Indenture to induce the Trustee to enter
into the Indenture, to induce the noteholders to purchase the Notes;


WHEREAS,
it is a condition to the issuance of the Notes that each Grantor execute and deliver this Agreement; and


WHEREAS,
the rights of the Holders of the Notes with respect to the Collateral shall be further governed by that Junior Priority Intercreditor
Agreement (as defined below).


NOW,
THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, and for other good
and valuable consideration the receipt and sufficiency of which is hereby acknowledged, each Grantor and the Collateral Trustee
agree as follows:


Section
1.              DEFINITIONS; GRANT OF SECURITY.


1.1          General
Definitions.     In this Agreement, the following terms shall have the following meanings:


“Additional
Grantors” shall have the meaning assigned in Section 7.3 hereof.


“Agreement”
shall have the meaning set forth in the preamble.



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“Cash
Proceeds” shall have the meaning assigned in Section 9.7 hereof.


“Collateral”
shall have the meaning assigned in Section 2.1 hereof.


“Collateral
Records” shall mean books, records, ledger cards, files, correspondence, customer lists, supplier lists, blueprints,
technical specifications, manuals, computer software and related documentation, computer printouts, tapes, disks and other electronic
storage media and related data processing software and similar items that at any time evidence or contain information relating
to any of the Collateral or are otherwise necessary or helpful in the collection thereof or realization thereupon.


“Collateral
Support” shall mean all property (real or personal) assigned, hypothecated or otherwise securing any Collateral and
shall include any security agreement or other agreement granting a lien or security interest in such real or personal property.


“Collateral
Trustee” shall have the meaning set forth in the preamble, and its successors and assigns.


“Company”
shall have the meaning set forth in the preamble.


“Continuing”
means, with respect to any Default or Event of Default, that such Default or Event of Default has not been cured or waived or
otherwise ceased to exist.


“Contracts”
shall mean all contracts, leases and other agreements entered into by any Grantor pursuant to which such Grantor has the right
(i) to receive moneys due and to become due to it thereunder or in connection therewith, (ii) to damages arising thereunder and
(iii) to perform and to exercise all remedies thereunder.


“Control”
shall mean: (1) with respect to any Deposit Accounts, control within the meaning of Section 9-104 of the UCC, (2) with respect
to any Securities Accounts, Security Entitlements, Commodity Contracts or Commodity Accounts, control within the meaning of Section
9-106 of the UCC, (3) with respect to any Uncertificated Securities, control within the meaning of Section 8-106(c) of the UCC,
(4) with respect to any Certificated Security, control within the meaning of Section 8-106(a) or (b) of the UCC, (5) with respect
to any Electronic Chattel Paper, control within the meaning of Section 9-105 of the UCC, (6) with respect to Letter of Credit
Rights, control within the meaning of Section 9-107 of the UCC and (7) with respect to any “transferable record”(as
that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or in Section 16
of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction), control within the meaning of Section 201
of the Federal Electronic Signatures in Global and National Commerce Act or in Section 16 of the Uniform Electronic Transactions
Act as in effect in the jurisdiction relevant to such transferable record.


“Controlled
Foreign Corporation” shall mean “controlled foreign corporation” as defined in the Code.


“Copyright
Licenses” shall mean any and all agreements, licenses and covenants providing for the granting of any right in or any
Copyright or otherwise providing for a covenant not to sue for infringement or other violation of any Copyright including, without
limitation, each agreement required to be listed in Schedule 5.2(II)(B) under the heading “Copyright Licenses” (as
such schedule may be amended or supplemented from time to time).



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“Copyrights”
shall mean all United States, and foreign copyrights (whether or not the underlying works of authorship have been published),
including but not limited to copyrights in software and all rights in and to databases, all designs (including but not limited
to industrial designs, Protected Designs within the meaning of 17 U.S.C. 1301 et seq. and Community designs) and all Mask Works
(as defined under 17 U.S.C. 901 of the U.S. Copyright Act), whether registered or unregistered, as well as all moral rights, reversionary
interests, and termination rights, and, with respect to any and all of the foregoing: (i) all registrations and applications therefor
including, without limitation, the registrations and applications required to be listed in Schedule 5.2(II)(A) under the heading
“Copyrights” (as such schedule may be amended or supplemented from time to time), (ii) all extensions and renewals
thereof, (iii) the right to sue or otherwise recover for any past, present and future infringement or other violation thereof,
(iv) all Proceeds of the foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages
and proceeds of suit now or hereafter due and/or payable with respect thereto and (v) all other rights of any kind accruing thereunder
or pertaining thereto throughout the world.


“Credit
Agreement Agent” shall mean Barclays Bank PLC (or its successors), as collateral agent under the Senior Credit Facility.


“Credit
Agreement Security Agreement” shall mean that certain Pledge and Security Agreement, dated as of February 15, 2013,
by and among the Parent, the Company and each other Guarantor party thereto, as it may be amended, restated, supplemented or otherwise
modified from time to time, which was entered into in connection with the Senior Credit Facility.


“Custodial
Accounts” shall mean any custodial accounts or clearing accounts established in
the name of the Company or any Grantor in the ordinary course of business to hold funds on behalf of a third party in connection
with the origination or funding of any mortgage or other consumer loans or pursuant to or containing funds received solely in
connection with Servicing Agreements in such Grantor’s capacity as servicer, bailee or custodian and any related accounts
maintained in the ordinary course of such Grantor’s origination or servicing businesses in the name of such Grantor that
are used solely for the collection, maintenance and disbursement of such funds on behalf of third parties for insurance payments,
tax payments, suspense payments and other similar payments required to be made by such Grantor in its capacity as originator or
servicer; provided that the books and records of such Grantor indicate that such accounts are being held “in trust
for” or on behalf of another Person; provided further that the accounts listed on Schedules 5.2(I)(G),
5.2(I)(H) and 5.2(I)(I) shall not qualify as Custodial Accounts.


“Excluded
Asset” shall mean any asset of any Grantor excluded from the security interest hereunder by virtue of Section 2.2 hereof
but only to the extent, and for so long as, so excluded thereunder.


“Excluded
Equity Interest” shall mean any equity interest listed on Schedule 5.2(I)(E) under the heading “Excluded Equity
Interest.”


“Excluded
Homeward Assets” shall mean any assets of Homeward and the Subsidiaries of Homeward that are Excluded Assets as set
forth in Schedule 2.2 of the Credit Agreement Security Agreement as such schedule may be updated from time to time pursuant to
Section 14 of the Credit Agreement Security Agreement.


“Governmental
Authority” shall mean any federal, state, municipal, national or other government, governmental department, central
bank, commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity, officer or examiner
exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government (including
any supra-national body exercising such powers or functions, such as the European Union or the European Central Bank) or any court,
in each case whether associated with a state of the United States, the United States, or a foreign entity or government.



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“Grantors”
shall have the meaning set forth in the preamble.


“Guarantors”
shall have the meaning set forth in the preamble, and their respective successors and assigns.


“Homeward”
means Homeward Residential Holdings, Inc. and Homeward Residential, Inc.


“Homeward
Roll-Up Event” shall mean the merger of Homeward and the Subsidiaries of Homeward with and into the Company, or any
Subsidiary of the Company or the sale of all or substantially all of the assets of Homeward and the Subsidiaries of Homeward to
the Company or to a Subsidiary of the Company.


“Indenture”
shall have the meaning set forth in the preamble.


“Indenture
Documents” shall mean each of this Agreement, the Intercreditor Agreement, the other Security Documents, the Indenture
and the Notes.


“Insurance”
shall mean (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Trustee is the
loss payee thereof) and (ii) any key man life insurance policies.


“Intellectual
Property” shall mean, the collective reference to all rights, priorities and privileges relating to intellectual property,
whether arising under the United States, multinational or foreign laws or otherwise, including without limitation, Copyrights,
Copyright Licenses, Patents, Patent Licenses, Trademarks, Trademark Licenses, Trade Secrets, and Trade Secret Licenses, and the
right to sue or otherwise recover for any past, present and future infringement, dilution, misappropriation, or other violation
or impairment thereof, including the right to receive all Proceeds therefrom, including without limitation license fees, royalties,
income, payments, claims, damages and proceeds of suit, now or hereafter due and/or payable with respect thereto.


“Intellectual
Property Security Agreement” shall mean each intellectual property security agreement executed and delivered by the
applicable Grantors, substantially in the form set forth in Exhibit C, Exhibit D or Exhibit E, as applicable.


“Investment
Accounts” shall mean the Securities Accounts, Commodity Accounts and Deposit Accounts.


“Investment
Related Property” shall mean: (i) all “investment property” (as such term is defined in Article 9 of the
UCC) and (ii) all of the following (regardless of whether classified as investment property under the UCC): all Pledged Equity
Interests, Pledged Debt, Investment Accounts and certificates of deposit.


“Material
Adverse Effect” shall mean any event, change, effect, development, circumstance or condition that has caused or could
reasonably be expected to cause a material adverse change, material adverse effect on and/or material adverse developments with
respect to (i) the business, general affairs, assets, liabilities, operations, management, financial condition, stockholders’
equity or results of operations or value of the Company the Parent, each Subsidiary Guarantor and each of their Subsidiaries taken
as a whole; (ii) the ability of any Grantor fully and timely to perform its Secured Obligations; (iii) the legality, validity,
binding effect or enforceability against a Grantor of any Indenture Document to which it is a party; or (iv) the rights, remedies
and benefits available to, or conferred upon, any Holder or any Secured Party under any Indenture Document.



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“Material
Intellectual Property” shall mean any Intellectual Property included in the Collateral that is material to the business
of any Grantor, as determined by such Grantor.


“Member
MSR’s” shall have the meaning assigned in the USAA Consent.


“Notes”
shall have the meaning set forth in the preamble.


“Notes
Obligations” shall mean all obligations of the Company and the Guarantors under the Notes, the Indenture, the Note Guarantees
and the Security Documents, whether for principal, interest (including interest which, but for the filing of a petition in bankruptcy
with respect to the Company or such Guarantor, would have accrued on any Notes Obligation, whether or not a claim is allowed against
the Company or such Guarantor for such interest in the related bankruptcy proceeding), premium, fees, expenses, indemnification
or otherwise.


“Organizational
Documents” shall mean with respect to any Person all formation, organizational
and governing documents, instruments and agreements, including (i) with respect to any corporation, its certificate or articles
of incorporation or organization, as amended, supplemented or otherwise modified, and its by-laws, as amended, supplemented or
otherwise modified, (ii) with respect to any limited partnership, its certificate of limited partnership, as amended, supplemented
or otherwise modified, and its partnership agreement, as amended, supplemented or otherwise modified, (iii) with respect to any
general partnership, its partnership agreement, as amended, supplemented or otherwise modified and (iv) with respect to any limited
liability company, its articles of organization, as amended, supplemented or otherwise modified, and its operating agreement,
as amended, supplemented or otherwise modified. In the event any term or condition of the Indenture or any other Security Document
requires any Organizational Document to be certified by a secretary of state or similar governmental official, the reference to
any such “Organizational Document” shall only be to a document of a type customarily certified by such governmental
official.


“Patent
Licenses” shall mean all agreements, licenses and covenants providing for the granting of any right in or to any Patent
or otherwise providing for a covenant not to sue for infringement or other violation of any Patent (whether such Grantor is licensee
or licensor thereunder) including, without limitation, each agreement required to be listed in Schedule 5.2(II)(D) under the heading
“Patent Licenses” (as such schedule may be amended or supplemented from time to time).


“Patents”
shall mean all United States and foreign patents and certificates of invention, or similar industrial property rights, and applications
for any of the foregoing, including, without limitation: (i) each patent and patent application required to be listed in Schedule
5.2(II)(C) under the heading “Patents” (as such schedule may be amended or supplemented from time to time), (ii) all
reissues, divisions, continuations, continuations-in-part, extensions, renewals, and reexaminations thereof, (iii) the right to
sue or otherwise recover for any past, present and future infringement or other violation thereof, (iv) all Proceeds of the foregoing,
including, without limitation, license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter
due and/or payable with respect thereto and (v) all other rights of any kind accruing thereunder or pertaining thereto throughout
the world.


“Parent”
shall have the meaning set forth in the preamble.



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“Pledge
Supplement” shall mean an agreement substantially in the form of Exhibit A hereto.


“Pledged
Debt” shall mean, subject to Section 2.2, all indebtedness for borrowed money owed to such Grantor, whether or not evidenced
by any Instrument, including, without limitation, all indebtedness described on Schedule 5.2(I)(F) under the heading “Pledged
Debt” (as such schedule may be amended or supplemented from time to time), issued by the obligors named therein, the instruments,
if any, evidencing such any of the foregoing, and all interest, cash, instruments and other property or proceeds from time to
time received, receivable or otherwise distributed in respect of or in exchange for any or all of the foregoing.


“Pledged
Equity Interests” shall mean all Pledged Stock, Pledged LLC Interests, Pledged Partnership Interests and any other participation
or interests in any equity or profits of any business entity including, without limitation, any trust and all management rights
relating to any entity whose equity interests are included as Pledged Equity Interests.


“Pledged
LLC Interests” shall mean, subject to Section 2.2, all interests in any limited liability company and each series thereof
including, without limitation, all limited liability company interests listed on Schedule 5.2(I)(B) under the heading “Pledged
LLC Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing
such limited liability company interests and any interest of such Grantor on the books and records of such limited liability company
or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash,
warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of such limited liability company interests and all rights as a member
of the related limited liability company.


“Pledged
Partnership Interests” shall mean, subject to Section 2.2, all interests in any general partnership, limited partnership,
limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule
5.2(I)(C) under the heading “Pledged Partnership Interests” (as such schedule may be amended or supplemented from
time to time) and the certificates, if any, representing such partnership interests and any interest of such Grantor on the books
and records of such partnership or on the books and records of any securities intermediary pertaining to such interest and all
dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to
time received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests and
all rights as a partner of the related partnership.


“Pledged
Stock” shall mean, subject to Section 2.2, all shares of capital stock owned by such Grantor, including, without limitation,
all shares of capital stock described on Schedule 5.2(I)(A) under the heading “Pledged Stock” (as such schedule may
be amended or supplemented from time to time), and the certificates, if any, representing such shares and any interest of such
Grantor in the entries on the books of the issuer of such shares or on the books of any securities intermediary pertaining to
such shares, and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or
proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such shares.


“Receivables”
shall mean (i) all “accounts” (as such term is defined in Article 9 of the UCC and (ii) all rights to payment, whether
or not earned by performance, for goods or other property sold, leased, licensed, assigned or otherwise disposed of, or services
rendered or to be rendered, including, without limitation all such rights constituting or evidenced by any Account, Chattel Paper,
Instrument, General Intangible or Investment Related Property, together with all of Grantor’s rights, if any, in any goods
or other property giving rise to such right to payment and all Collateral Support and Supporting Obligations related thereto and
all Receivables Records.



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“Receivables
Records” shall mean (i) all original copies of all documents, instruments or other writings or electronic records or
other Records evidencing the Receivables, (ii) all books, correspondence, credit or other files, Records, ledger sheets or cards,
invoices, and other papers relating to Receivables, including, without limitation, all tapes, cards, computer tapes, computer
discs, computer runs, record keeping systems and other papers and documents relating to the Receivables, whether in the possession
or under the control of Grantor or any computer bureau or agent from time to time acting for Grantor or otherwise, (iii) all evidences
of the filing of financing statements and the registration of other instruments in connection therewith, and amendments, supplements
or other modifications thereto, notices to other creditors, secured parties or agents thereof, and certificates, acknowledgments,
or other writings, including, without limitation, lien search reports, from filing or other registration officers, (iv) all credit
information, reports and memoranda relating thereto and (v) all other written or non-written forms of information related in any
way to the foregoing or any Receivable.


“Secured
Obligations” shall have the meaning assigned in Section 3.1 hereof.


“Secured
Parties” shall mean the Collateral Trustee, the Trustee and each Holder of the Notes.


“Securities”
shall mean any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any
profit-sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured
or unsecured, convertible, subordinated or otherwise, or in general any instruments commonly known as “securities”
or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition
of, or any right to subscribe to, purchase or acquire, any of the foregoing.


“Subsidiary
Guarantors” shall have the meaning set forth in the preamble, and their respective successors and assigns.


“Trademark
Licenses” shall mean any and all agreements, licenses and covenants providing for the granting of any right in or to
any Trademark or otherwise providing for a covenant not to sue for infringement, dilution or other violation of any Trademark
or permitting co-existence with respect to a Trademark (whether such Grantor is licensee or licensor thereunder) including, without
limitation, each agreement required to be listed in Schedule 5.2(II)(F) under the heading “Trademark Licenses” (as
such schedule may be amended or supplemented from time to time).


“Trademarks”
shall mean all United States, and foreign trademarks, trade names, trade dress, corporate names, company names, business names,
fictitious business names, Internet domain names, service marks, certification marks, collective marks, logos, other source or
business identifiers, designs and general intangibles of a like nature, whether or not registered and with respect to any and
all of the foregoing: (i) all registrations and applications therefor including, without limitation, the registrations and applications
required to be listed in Schedule 5.2(II)(E) under the heading “Trademarks” (as such schedule may be amended or supplemented
from time to time), (ii) all extensions or renewals of any of the foregoing, (iii) all of the goodwill of the business connected
with the use of and symbolized by any of the foregoing, (iv) the right to sue or otherwise recover for any past, present and future
infringement, dilution or other violation of any of the foregoing or for any injury to the related goodwill, (v) all Proceeds
of the foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages, and proceeds of suit
now or hereafter due and/or payable with respect thereto and (vi) all other rights of any kind accruing thereunder or pertaining
thereto throughout the world.



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“Trade
Secret Licenses” shall mean any and all agreements providing for the granting of any right in or to Trade Secrets (whether
such Grantor is licensee or licensor thereunder) including, without limitation, each agreement required to be listed in Schedule
5.2(II)(G) under the heading “Trade Secret Licenses” (as such schedule may be amended or supplemented from time to
time).


“Trade
Secrets” shall mean all trade secrets, including all documents and things embodying, incorporating, or referring in
any way to the foregoing, and with respect to any and all of the foregoing: (i) the right to sue or otherwise recover for any
past, present and future misappropriation or other violation thereof, (ii) all Proceeds of the foregoing, including, without limitation,
license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable with respect
thereto and (iii) all other rights of any kind accruing thereunder or pertaining thereto throughout the world.


“UCC”
shall mean the Uniform Commercial Code as in effect from time to time in the State of New York; provided, however, that in the
event that, by reason of mandatory provisions of law, any or all of the perfection or priority of, or remedies with respect to,
any Collateral is governed by the Uniform Commercial Code as enacted and in effect in a jurisdiction other than the State of New
York, the term “UCC” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely
for purposes of the provisions hereof relating to such perfection, priority or remedies.


“United
States” shall mean the United States of America.


“USAA”
shall mean USAA Federal Savings Bank.


“USAA
Consent” shall mean the Consent and Agreement dated as of January 30, 2013 between the Company and USAA and acknowledged
by GMAC Mortgage, LLC, as in effect on the date hereof.


1.2          Definitions; Interpretation.


(a)          In
this Agreement, the following capitalized terms shall have the meaning given to them in the UCC (and, if defined in more than
one Article of the UCC, shall have the meaning given in Article 9 thereof): Account, Account Debtor, As-Extracted Collateral,
Bank, Certificated Security, Chattel Paper, Commercial Tort Claims, Commodity Account, Commodity Contract, Commodity Intermediary,
Deposit Account, Document, Electronic Chattel Paper, Entitlement Order, Equipment, Farm Products, Fixtures, General Intangibles,
Goods, Health-Care-Insurance Receivable, Instrument, Inventory, Letter of Credit Right, Manufactured Home, Money, Payment Intangible,
Proceeds, Record, Securities Account, Securities Intermediary, Security Certificate, Security Entitlement, Supporting Obligations,
Tangible Chattel Paper and Uncertificated Security.





(b)          All
other capitalized terms used herein (including the preamble and recitals hereto) and not otherwise defined herein shall have the
meanings ascribed thereto in the Indenture. The incorporation by reference of terms defined in the Indenture shall survive any
termination of the Indenture until this agreement is terminated as provided in Section 11 hereof. Any of the terms defined herein
may, unless the context otherwise requires, be used in the singular or the plural, depending on the reference. References herein
to any Section, Appendix, Schedule or Exhibit shall be to a Section, an Appendix, a Schedule or an Exhibit, as the case may be,
hereof unless otherwise specifically provided. The use herein of the word “include” or “including”, when
following any general statement, term or matter, shall not be construed to limit such statement, term or matter to the specific
items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language
(such as “without limitation” or “but not limited to” or words of similar import) is used with reference
thereto, but rather shall be deemed to refer to all other items or matters that fall within the broadest possible scope of such
general statement, term or matter. The terms lease and license shall include sub-lease and sub-license, as applicable. If any
conflict or inconsistency exists between this Agreement and the Indenture, the Indenture shall govern. All references herein to
provisions of the UCC shall include all successor provisions under any subsequent version or amendment to any Article of the UCC.



    	-8-



    	 



    




Section
2.             GRANT OF SECURITY.


2.1          Grant
of Security.


(a)          Each
Grantor hereby grants to the Collateral Trustee, for the benefit of the Secured Parties, a security interest in and continuing
lien on all of such Grantor’s right, title and interest in, to and under all personal property of such Grantor including,
but not limited to the following, in each case whether now owned or existing or hereafter acquired or arising and wherever located
(all of which being hereinafter collectively referred to as the “Collateral”):


(i)     Accounts;


(ii)    Contracts;


(iii)   Chattel
Paper;


(iv)   Documents;


(v)    General
Intangibles;


(vi)   Goods
(including all of its Equipment, Fixtures and Inventory), together with all accessions, additions, attachments, improvements,
substitutions and replacements thereto and therefor;


(vii)  Instruments;


(viii) Insurance;


(ix)   Intellectual
Property;


(x)    Investment
Related Property (including, without limitation, Deposit Accounts);


(xi)   Letter
of Credit Rights;


(xii)  Money;


(xiii) Receivables
and Receivables Records;



    	-9-



    	 



    




(xiv) Commercial
Tort Claims now or hereafter described on Schedule 5.2(III);


(xv)  to
the extent not otherwise included above, all other personal property of any kind and all Collateral Records, Collateral Support
and Supporting Obligations relating to any of the foregoing; and


(xvi) to
the extent not otherwise included above, all Proceeds, products, accessions, rents and profits of or in respect of any of the
foregoing.


(b)          Notwithstanding
anything herein to the contrary, the liens and security interests granted to the Collateral Trustee pursuant to this Agreement
and the exercise of any right or remedy by the Collateral Trustee hereunder are subject to the provisions of the Intercreditor
Agreements. To the extent that the provisions of this Agreement shall conflict, or shall be inconsistent, with the provisions
of any Intercreditor Agreement, the applicable provisions of such Intercreditor Agreement shall control; provided that nothing
in the Intercreditor Agreement shall limit the rights, protections, immunities or indemnities of the Collateral Trustee under
the Indenture Documents. Notwithstanding anything herein to the contrary, prior to the Discharge of First Priority Obligations
(as defined in the Junior Priority Intercreditor Agreement), the requirements of this Agreement to deliver Collateral to the Collateral
Trustee shall be deemed satisfied by delivery of such Collateral to the Credit Agreement Agent.


2.2          Certain
Limited Exclusions.     Notwithstanding anything herein or in any other Indenture Document to the contrary, in no event shall
the Collateral (as such term is defined herein and used herein) include or the security interest granted under Section 2.1
hereof attach to:


(a)          any lease, license, contract or agreement to which any Grantor is a party, and any of its rights or interest thereunder, if and
to the extent that a security interest is prohibited by or in violation of (i) any law, rule or regulation applicable to such
Grantor, or (ii) a term, provision or condition of any such lease, license, contract, property right or agreement (unless such
law, rule, regulation, term, provision or condition would be rendered ineffective with respect to the creation of the security
interest hereunder pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of
any relevant jurisdiction or any other applicable law (including the Bankruptcy Code) or principles of equity); provided,
however, that the Collateral shall include (and such security interest shall attach) immediately at such time as the contractual
or legal prohibition shall no longer be applicable and to the extent severable, shall attach immediately to any portion of such
lease, license, contract or agreement not subject to the prohibitions specified in (i) or (ii) above; provided further
that the exclusions referred to in this clause (a) shall not include any Proceeds of any such lease, license, contract or
agreement;


(b)          any
of the outstanding voting capital stock of an Excluded Subsidiary in excess of 65% of all classes of capital stock of such Excluded
Subsidiary; provided that immediately upon the amendment of the Code to allow the pledge of a greater percentage of the
capital stock in an Excluded Subsidiary without adverse tax consequences, the Collateral shall include, and the security interest
granted by each Grantor shall attach to, such greater percentage of capital stock of each Excluded Subsidiary;


(c)          any
applications for trademarks or service marks filed in the United States Patent and Trademark Office (the “PTO”)
pursuant to 15 U.S.C. §1051 Section 1(b) unless and until evidence of use of the mark in interstate commerce is submitted
to the PTO pursuant to 15 U.S.C. §1051 Section 1(c) or Section 1(d);





(d)          Excluded Equity Interests;



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(e)          Securitization
Assets and any assets or property subject to a Permitted Lien securing Non-Recourse Indebtedness, Permitted Funding Indebtedness,
Permitted Securitization Indebtedness and Indebtedness under Credit Enhancement Agreements;


(f)          any
Custodial Accounts;


(g)          any
REO Assets;


(h)          any
Equity Interest issued by a Securitization Entity that cannot be pledged as a result of restrictions in its or its parent’s
Organizational Documents or documents governing or related to its or its subsidiaries’ Indebtedness; provided that,
irrespective of the foregoing, the following assets shall constitute “Collateral”: (1) Unencumbered Servicing Advances,
(2) Specified Deferred Servicing Fees and (3) subject to clause (k) below, Specified MSRs;


(i)           (x)
any segregated deposit accounts or securities account containing solely deposits that constitute (i) Liens in the ordinary course
of business in connection with workers’ compensation, unemployment insurance and other types of social security, or to secure
the performance of tenders, statutory obligations, surety and appeal bonds, bids, leases, government contracts, trade contracts,
performance and return-of-money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money
or other Indebtedness), so long as no foreclosure, sale or similar proceedings have been commenced with respect to any portion
of the Collateral on account thereof, or (ii) pledges or deposits in connection with workers’ compensation, unemployment
insurance and other social security legislation, in each case, to the extent and for so long as the contract or other agreement
in which such Lien is granted validly prohibits the creation of any other Lien on such property and (y) any property of a person
existing at the time such person is acquired or merged with or into or consolidated with the Company or any Guarantor that is
subject to a Lien securing Indebtedness permitted pursuant to clauses (5) and (6) of the definition of “Permitted Indebtedness”
as set forth in the Indenture; provided that any such Lien shall encumber only those assets which secured such Indebtedness
at the time such assets were acquired by Parent or its Subsidiaries, to the extent and for so long as the contract or other agreement
in which such Lien is granted validly prohibits the creation of any other Lien on such property;


(j)           Prior
to a Homeward Roll-up Event, all Excluded Homeward Assets and related deferred servicing fees of Homeward and its Subsidiaries
to the extent, and only to the extent, and for so long as such pledge would result in Homeward not being in compliance with the
minimum tangible net worth restrictions of Fannie Mae, Freddie Mac or any state regulatory agency with authority over Homeward
and its Subsidiaries, as applicable; and


(k)          MSR
Collateral (as such term is defined in the Junior Priority Intercreditor Agreement) and Servicing Agreements related to Specified
MSRs of the Parent and its Subsidiaries entered into with Specified Government Entities, to the extent that the pledge thereof
requires an acknowledgement agreement from any Specified Government Entity; provided that, such Servicing Agreements and
the Specified MSRs subject thereto (other than Servicing Agreements with Fannie Mae and Freddie Mac) shall be not excluded from
Collateral if such acknowledgment agreements are not required as a condition to the creation of a security interest therein in
favor of the Collateral Trustee, including, without limitation, Servicing Agreements and Specified MSRs with Ginnie Mae;


provided,
however, that Excluded Assets shall not include (i) any proceeds, substitutions or replacements of any property referred to
in clauses (a) through (k) above (unless such proceeds, substitutions or replacements would constitute Excluded Assets referred
to in clauses (a) through (k) above) or (ii) any assets of the Company or any Guarantor which secure (or purport to secure) any
First Priority Obligations.



    	-11-



    	 



    


In
addition, (i) if USAA should exercise its right to purchase any Member MSR’s under the USAA Consent, the liens and security
interests of the Collateral Trustee on such Member MSR’s and the net servicing revenue derived therefrom shall be deemed
to be automatically released with no further action on the part of any Person and (ii) if the Collateral Trustee should exercise
its rights to sell any Member MSR’s pursuant to any Security Document, such sale shall be subject to the condition that
the purchaser of any such Member MSR’s enter into an agreement with USAA containing substantially the same provisions as
those set forth in Sections 2 through 7 of the USAA Consent.


Notwithstanding
anything contained herein to the contrary, no Grantor shall be required to (i) take any action to create or perfect any security
interest in the Collateral under the laws of any jurisdiction outside the United States, or (ii) take any action to perfect any
security interest in any aircraft or any trucks, trailers, tractors, service vehicles, automobiles, rolling stock or other mobile
equipment covered by certificate of title ownership (except, in each case, the filing of a financing statement).


 


Section
3.             SECURITY FOR OBLIGATIONS; GRANTORS REMAIN LIABLE.


3.1         Security
for Obligations.     This Agreement secures, and the Collateral is collateral security for, the prompt and complete payment
or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or
otherwise (including (x) the payment of amounts that would become due but for the operation of the automatic stay under
Section 362(a) of the Bankruptcy Code, 11 U.S.C. §362(a) (and any successor provision thereof) and (y) interest and
fees accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of
whether allowed or allowable in such proceeding), of all Notes Obligations with respect to every Grantor (the
“Secured Obligations”).


3.2         Continuing
Liability Under Collateral.     Notwithstanding anything herein to the contrary, (i) each Grantor shall remain liable for all obligations
under the Collateral and nothing contained herein is intended or shall be a delegation of duties to the Collateral Trustee or
any Secured Party, (ii) each Grantor shall remain liable under each of the agreements included in the Collateral, including, without
limitation, any agreements relating to Pledged Partnership Interests or Pledged LLC Interests, to perform all of the obligations
undertaken by it thereunder all in accordance with and pursuant to the terms and provisions thereof and neither the Collateral
Trustee nor any Secured Party shall have any obligation or liability under any of such agreements by reason of or arising out
of this Agreement or any other document related thereto nor shall the Collateral Trustee nor any Secured Party have any obligation
to make any inquiry as to the nature or sufficiency of any payment received by it or have any obligation to take any action to
collect or enforce any rights under any agreement included in the Collateral, including, without limitation, any agreements relating
to Pledged Partnership Interests or Pledged LLC Interests and (iii) the exercise by the Collateral Trustee of any of its rights
hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the
Collateral.



    	-12-



    	 



    


Section
4.             CERTAIN PERFECTION REQUIREMENTS.


4.1          Delivery Requirements.


(a)          Subject
to the Junior Priority Intercreditor Agreement, with respect to any Certificated Securities included in the Collateral, each Grantor
shall deliver to the Collateral Trustee (or its agent, designee or bailee) the Security Certificates evidencing such Certificated
Securities duly indorsed by an effective indorsement (within the meaning of Section 8-107 of the UCC), or accompanied by share
transfer powers or other instruments of transfer duly endorsed by such an effective endorsement, in each case, to the Collateral
Trustee or in blank. In addition, except as set forth in Section 6.8, each Grantor shall cause any certificates evidencing any
Pledged Equity Interests, including, without limitation, any Pledged Partnership Interests or Pledged LLC Interests, to be similarly
delivered to the Collateral Trustee regardless of whether such Pledged Equity Interests constitute Certificated Securities.


(b)          Subject
to the Junior Priority Intercreditor Agreement, with respect to any Instruments or Tangible Chattel Paper included in the Collateral,
each Grantor shall deliver to the Collateral Trustee all such Instruments or Tangible Chattel Paper (other than any mortgage loans,
auto dealer floorplan loans, or consumer loans owned by any Grantor in the ordinary course of business) to the Collateral Trustee
duly indorsed in blank; provided, however, that such delivery requirement shall not apply to any Instruments or
Tangible Chattel Paper having a face amount of less than $500,000 individually or $1,000,000 in the aggregate.


4.2          Control Requirements.


(a)          With
respect to any Uncertificated Security included in the Collateral (other than any Uncertificated Securities credited to a Securities
Account), each Grantor shall cause the issuer of such Uncertificated Security (other than any such issuer which is a Foreign Subsidiary
or a Securitization Entity) to either (i) subject to the terms of the Junior Priority Intercreditor Agreement, register the Collateral
Trustee as the registered owner thereof on the books and records of the issuer or (ii) execute an agreement substantially in the
form of Exhibit B hereto (or such other agreement in form and substance reasonably satisfactory to the Collateral Trustee), pursuant
to which such issuer agrees to comply with the Collateral Trustee’s instructions with respect to such Uncertificated Security
without further consent by such Grantor which instructions shall only be given upon the occurrence and during the Continuance
of an Event of Default.


(b)          With
respect to any Letter of Credit Rights relating to letters of credit drawable for an amount of $5,000,000 or more included in
the Collateral (other than any Letter of Credit Rights constituting a Supporting Obligation for a Receivable in which the Collateral
Trustee has a valid and perfected security interest), Grantor shall use commercially reasonable efforts to ensure that Collateral
Trustee has Control thereof by obtaining the written consent of each issuer of each related letter of credit to the assignment
of the proceeds of such letter of credit to the Collateral Trustee.


(c)          With
respect any Electronic Chattel Paper or “transferable record”(as that term is defined in Section 201 of the Federal
Electronic Signatures in Global and National Commerce Act or in Section 16 of the Uniform Electronic Transactions Act as in effect
in any relevant jurisdiction) included in the Collateral (other than any mortgage loans or consumer loans owned by any Grantor
in the ordinary course of business), Grantor shall after Discharge of First Priority Obligations (as defined in the Junior Priority
Intercreditor Agreement) use commercially reasonable efforts to ensure that the Collateral Trustee has Control thereof; provided,
however, that such Control requirement shall not apply to any Electronic Chattel Paper or transferable record having a
face amount of less than $1,000,000 individually or $5,000,000 in the aggregate.



    	-13-



    	 



    


4.3          Intellectual
Property Recording Requirements.


(a)          In
the case of any Material Intellectual Property (whether now owned or hereafter acquired) consisting of U.S. Patents and Patent
Licenses in respect of U.S. Patents for which any Grantor is the licensee and the U.S. Patents are specifically identified, Grantor
shall execute and deliver to the Collateral Trustee a Patent Security Agreement in substantially the form of Exhibit E hereto
(or a supplement thereto) covering all such Patents and Patent Licenses in appropriate form for recordation with the U.S. Patent
and Trademark Office with respect to the security interest of the Collateral Trustee.


(b)          In
the case of any Material Intellectual Property (whether now owned or hereafter acquired) consisting of U.S. Trademarks and Trademark
Licenses in respect of U.S. Trademarks for which any Grantor is the licensee and the U.S. Trademarks are specifically identified,
Grantor shall execute and deliver to the Collateral Trustee a Trademark Security Agreement in substantially the form of Exhibit
C hereto (or a supplement thereto) covering all such Trademarks and Trademark Licenses in appropriate form for recordation with
the U.S. Patent and Trademark Office with respect to the security interest of the Collateral Trustee.


(c)          In
the case of any Material Intellectual Property (whether now owned or hereafter acquired) consisting of registered U.S. Copyrights
and Copyright Licenses in respect of U.S. Copyrights for which any Grantor is the licensee and the U.S. Copyright registrations
are specifically identified, Grantor shall execute and deliver to the Collateral Trustee a Copyright Security Agreement in substantially
the form of Exhibit D hereto (or a supplement thereto) covering all such Copyright and Copyright Licenses is in appropriate form
for recordation with the U.S. Copyright Office with respect to the security interest of the Collateral Trustee.


4.4         Other
Actions.     With respect to any Pledged Partnership Interests and Pledged LLC Interests included in the Collateral, if the Grantors
own less than 100% of the equity interests in any issuer of such Pledged Partnership Interests or Pledged LLC Interests, Grantors
shall use their commercially reasonable efforts to obtain the consent of each other holder of partnership interest or limited
liability company interests in such issuer to the security interest of the Collateral Trustee hereunder and following the occurrence
and during the Continuance of an Event of Default, the transfer of such Pledged Partnership Interests and Pledged LLC Interests
to the Collateral Trustee or its designee, and to the substitution of the Collateral Trustee or its designee as a partner or member
with all the rights and powers related thereto. Each Grantor consents to the grant by each other Grantor of a Lien in all Investment
Related Property to the Collateral Trustee and without limiting the generality of the foregoing consents to the transfer of any
Pledged Partnership Interest and any Pledged LLC Interest to the Collateral Trustee or its designee following the occurrence and
during the Continuance of an Event of Default and to the substitution of the Collateral Trustee or its designee as a partner in
any partnership or as a member in any limited liability company with all the rights and powers related thereto.



    	-14-



    	 



    


4.5          Timing
and Notice. With respect to any Collateral in existence on the Issue Date, each Grantor shall comply with the requirements
of Section 4 on the date hereof and with respect to any Collateral hereafter owned or acquired, such Grantor shall use commercially
reasonable efforts to comply with such requirements within 30 days of Grantor acquiring rights therein. Each Grantor shall promptly
inform the Collateral Trustee of its acquisition of any Collateral for which any action is required by Section 4 hereof (including,
for the avoidance of doubt, the filing of any applications for, or the issuance or registration of, any Patents, Copyrights or
Trademarks).


Section
5.              REPRESENTATIONS AND WARRANTIES.


Each
Grantor hereby represents and warrants, on the Issue Date, that:


5.1         Grantor
Information & Status.


(a)          Schedule
5.1(A) & (B) (as such schedule may be amended or supplemented from time to time) sets forth under the appropriate headings:
(1) the full legal name of such Grantor, (2) all trade names or other names under which such Grantor currently conducts business,
(3) the type of organization of such Grantor, (4) the jurisdiction of organization of such Grantor, (5) its organizational identification
number, if any, and (6) the jurisdiction where the chief executive office or its sole place of business (or the principal residence
if such Grantor is a natural person) is located;


(b)          except
as provided on Schedule 5.1(C), it has not changed its name, jurisdiction of organization, chief executive office or sole place
of business (or principal residence if such Grantor is a natural person) or its corporate structure in any way (e.g., by merger,
consolidation, change in corporate form or otherwise) and has not done business under any other name, in each case, within the
past five (5) years;


(c)          such
Grantor has been duly organized and is validly existing as an entity of the type as set forth opposite such Grantor’s name
on Schedule 5.1(A) solely under the laws of the jurisdiction as set forth opposite such Grantor’s name on Schedule 5.1(A)
and remains duly existing as such. Such Grantor has not filed any certificates of dissolution or liquidation, any certificates
of domestication, transfer or continuance in any other jurisdiction; and


(d)          no
Grantor is a “transmitting utility” (as defined in Section 9-102(a)(80) of the UCC).


5.2          Collateral
Identification, Special Collateral.


(a)Schedule
5.2 (as such schedule may be amended or supplemented from time to time) sets forth under the appropriate headings all of
such Grantor’s: (1) Pledged Equity Interests, (2) Equity Interests (that would otherwise constitute a Pledged Equity
Interest) to the extent they secure or are the subject of a negative pledge to support Non-Recourse Indebtedness of Parent,
the Company or any other Grantor, (3) Pledged Debt (other than mortgage loans or consumer loans owned by any Grantor in
the ordinary course of business), (4) Securities Accounts included in the Collateral other than any Securities Accounts
holding assets with a market value of less than $1,000,000 individually or $5,000,000 in the aggregate, (5) Deposit Accounts
included in the Collateral other than any Deposit Accounts holding less than $1,000,000 individually or $5,000,000 in the
aggregate, (6) Commodity Contracts and Commodity Accounts, (7) all United States and foreign registrations and issuances
of and applications for Patents, Trademarks, and Copyrights owned by each Grantor, (8) all Patent Licenses, Trademark
Licenses, Trade Secret Licenses and Copyright Licenses constituting Material Intellectual Property Material Intellectual Property, (9) Commercial Tort
Claims other than any Commercial Tort Claims having a value of less than $500,000 individually and $1,000,000 in the
aggregate, and (10) Letter of Credit Rights for letters of credit other than any Letters of Credit Rights worth less than
$500,000, individually or $1,000,000 in the aggregate. Each Grantor shall supplement such schedules as necessary to ensure
that such schedules are accurate on each Increased Amount Date;



    	-15-



    	 



    


(b)          none
of the Collateral constitutes, or is the Proceeds of, (1) Farm Products, (2) As-Extracted Collateral, (3) Health-Care-Insurance
Receivables, (4) timber to be cut or (5) aircraft, aircraft engines, satellites, ships or railroad rolling stock. No material
portion of the collateral consists of motor vehicles or other goods subject to a certificate of title statute of any jurisdiction;


(c)          all
information supplied by any Grantor with respect to any of the Collateral (in each case taken as a whole with respect to any particular
Collateral) is accurate and complete in all material respects; and


(d)          not
more than 10% of the value of all personal property included in the Collateral other than the Equity Interests of Foreign Subsidiaries
of the Parent located in any country other than the United States.


5.3         Ownership
of Collateral and Absence of Other Liens.


(a)          such
Grantor owns the Collateral purported to be owned by it or otherwise has the rights it purports to have in each item of Collateral
and, as to all Collateral whether now existing or hereafter acquired, developed or created (including by way of lease or license),
will continue to own or have such rights in each item of the Collateral (except as otherwise permitted by the Indenture), in each
case free and clear of any and all Liens, rights or claims of all other Persons, including, without limitation, liens arising
as a result of such Grantor becoming bound (as a result of merger or otherwise) as debtor under a security agreement entered into
by another Person other than, in the case of priority only, any Permitted Liens; and


(b)          other
than any financing statements filed in favor of the Collateral Trustee, no effective financing statement, fixture filing or other
instrument similar in effect under any applicable law covering all or any part of the Collateral is on file in any filing or recording
office except for (x) financing statements filed (i) in connection with Permitted Liens or (ii) by individuals with respect to
claims that do not constitute Liens. Other than the Collateral Trustee and any automatic control in favor of a Bank, Securities
Intermediary or Commodity Intermediary maintaining a Deposit Account, Securities Account or Commodity Contract, no Person is in
Control of any Collateral.



    	-16-



    	 



    


5.4          Status
of Security Interest.


(a)          upon
the filing of financing statements naming each Grantor as “debtor” and the Collateral Trustee as “secured party”
and describing the Collateral in the filing offices set forth opposite such Grantor’s name on Schedule 5.4 hereof (as such
schedule may be amended or supplemented from time to time), the security interest of the Collateral Trustee in all Collateral
that can be perfected by the filing of a financing statement under the Uniform Commercial Code as in effect in any jurisdiction
will constitute a valid, perfected, second priority Lien in favor of the Collateral Trustee subject in the case of priority only,
to any Permitted Liens with respect to Collateral. Each agreement purporting to give the Collateral Trustee Control over any Collateral
is effective to establish the Collateral Trustee’s Control of the Collateral subject thereto;


(b)          to
the extent perfection or priority of the security interest therein is not subject to Article 9 of the UCC, upon recordation of
the security interests granted hereunder in Patents, Trademarks, Copyrights and exclusive Copyright Licenses in the applicable
intellectual property registries, including but not limited to the United States Patent and Trademark Office and the United States
Copyright Office, the security interests granted to the Collateral Trustee hereunder shall constitute valid, perfected, second
priority Liens (subject, in the case of priority only, to Permitted Liens);


(c)          no
authorization, consent, approval or other action by, and no notice to or filing with, any Governmental Authority or regulatory
body or any other Person is required for either (i) the pledge or grant by any Grantor of the Liens purported to be created in
favor of the Collateral Trustee hereunder or (ii) the exercise by Collateral Trustee of any rights or remedies in respect of any
Collateral (whether specifically granted or created hereunder or created or provided for by applicable law), except (A) for the
filings contemplated by clause (a) above, (B) as may be required, in connection with the disposition of any Investment Related
Property, by laws generally affecting the offering and sale of Securities and (C) any consents needed to transfer the servicing
under any servicing agreement to any successor servicer; and


(d)          each
Grantor is in compliance with its obligations under Section 4 hereof.


5.5          Pledged
Equity Interests, Investment Related Property.


(a)          it
is the record and beneficial owner of the Pledged Equity Interests free of all Liens, rights or claims of other Persons and there
are no outstanding warrants, options or other rights to purchase, or shareholder, voting trust or similar agreements outstanding
with respect to, or property that is convertible into, or that requires the issuance or sale of, any Pledged Equity Interests;


(b)          no
consent of any Person including any other general or limited partner, any other member of a limited liability company, any other
shareholder or any other trust beneficiary is necessary or desirable in connection with the creation, perfection or second priority
status of the security interest of the Collateral Trustee in any Pledged Equity Interests or the exercise by the Collateral Trustee
of the voting or other rights provided for in this Agreement or the exercise of remedies in respect thereof except such as have
been obtained; and


(c)          all
of the Pledged LLC Interests and Pledged Partnership Interests either (i) are or represent interests that by their terms provide
that they are securities governed by the uniform commercial code of an applicable jurisdiction or (ii)(A) are not traded on securities
exchanges or in securities markets, (B) are not “investment company securities” (as defined in Section 8-103(b) of
the UCC) and (C) do not provide, in the related operating or partnership agreement, as applicable, certificates, if any, representing
such Pledged LLC Interests or Pledged Partnership Interests, as applicable, or otherwise that they are securities governed by
the Uniform Commercial Code of any jurisdiction.



    	-17-



    	 



    


5.6          Intellectual
Property.


(a)          to
the best of such Grantor’s knowledge: it is the sole and exclusive owner of the entire right, title, and interest in and
to all Intellectual Property listed on Schedule 5.2(II) (as such schedule may be amended or supplemented from time to time), or
owns or has the right to use and, where such Grantor does so, sublicense others to use, all other Material Intellectual Property,
free and clear of all Liens, claims and encumbrances, except for Permitted Liens and the licenses set forth on Schedule 5.2(II)
(as such schedule may be amended or supplemented from time to time);


(b)          to
the best of such Grantor’s knowledge: all Material Intellectual Property of such Grantor is subsisting and has not been
adjudged invalid or unenforceable, in whole or in part, nor, in the case of Patents, is any of the Intellectual Property the subject
of a reexamination proceeding, and such Grantor has performed all acts reasonably necessary and has paid all renewal, maintenance,
and other fees and taxes required to maintain each and every registration and application of Copyrights, Patents and Trademarks
of such Grantor constituting Material Intellectual Property in full force and effect;


(c)          to
the best of the Grantor’s knowledge and excluding Intellectual Property that is the subject of a pending application: all
Material Intellectual Property is valid and enforceable; no holding, decision, ruling, or judgment has been rendered in any action
or proceeding before any court or administrative authority challenging the validity, enforceability, or scope of, or such Grantor’s
right to register, own or use, any Material Intellectual Property of such Grantor, and no such action or proceeding is pending
or, to the best of such Grantor’s knowledge, threatened;


(d)          to
the best of the Grantor’s knowledge: all registrations, issuances and applications for Copyrights, Patents and Trademarks
of such Grantor are standing in the name of such Grantor, and none of the Trademarks, Patents, Copyrights or Trade Secrets owned
by such Grantor has been licensed by such Grantor to any Affiliate or third party, except as disclosed in Schedule 5.2(II) (as
such schedule may be amended or supplemented from time to time);


(e)          such
Grantor has not made a previous assignment, sale, transfer, exclusive license or similar arrangement constituting a present or
future assignment, sale, transfer, exclusive license or similar arrangement of any Material Intellectual Property that has not
been terminated or released;


(f)          such
Grantor generally used appropriate statutory notice of registration in connection with its use of its registered Trademarks and
proper marking practices in connection with the use of Patents constituting Material Intellectual Property;


(g)          such
Grantor has taken commercially reasonable steps to protect the confidentiality of its Trade Secrets constituting Material Intellectual
Property;


(h)          such
Grantor controls the nature and quality of all products sold and all services rendered under or in connection with all Trademarks
of such Grantor and has taken all action reasonably necessary to insure that all licensees of the Trademarks owned by such Grantor
comply with such Grantor’s standards of quality, in each case, to the extent constituting Material Intellectual Property;
and



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(i)           to
the best of such Grantor’s knowledge: the conduct of such Grantor’s business does not infringe, misappropriate, dilute
or otherwise violate any Intellectual Property right of any other Person; and no claim has been made that the use of any Material
Intellectual Property owned or used by such Grantor (or any of its respective licensees) infringes, misappropriates, dilutes or
otherwise violates the asserted rights of any other Person, and no demand that such Grantor enter into a license or co-existence
agreement has been made but not resolved.


Section
6.              COVENANTS AND AGREEMENTS.


Each
Grantor hereby covenants and agrees that:


6.1          Grantor
Information & Status.


(a)          Without
limiting any prohibitions or restrictions on mergers or other transactions set forth in the Indenture, it shall not change such
Grantor’s name, identity, corporate structure (e.g. by merger, consolidation, change in corporate form or otherwise), sole
place of business (or principal residence if such Grantor is a natural person), chief executive office, type of organization or
jurisdiction of organization or establish any trade names unless it shall have (a) notified the Collateral Trustee in writing
at least thirty (30) days prior to any such change or establishment, identifying such new proposed name, identity, corporate structure,
sole place of business (or principal residence if such Grantor is a natural person), chief executive office, jurisdiction of organization
or trade name and providing such other information in connection therewith as the Collateral Trustee may reasonably request and
(b) taken all actions necessary to maintain the continuous validity, perfection and the same or better priority of the Collateral
Trustee’s security interest in the Collateral granted or intended to be granted and agreed to hereby, which in the case
of any merger or other change in corporate structure shall include, without limitation, executing and delivering to the Collateral
Trustee a completed Pledge Supplement, substantially in the form of Annex A attached hereto together with all Supplements to Schedules
thereto, upon completion of such merger or other change in corporate structure confirming the grant of the security interest hereunder.


6.2          Collateral
Identification; Special Collateral.


(a)          in
the event that it hereafter acquires any Collateral of a type described in Section 5.2(b) hereof, it shall promptly notify the
Collateral Trustee thereof in writing and take such actions and execute such documents and make such filings all at Grantor’s
expense as necessary (or as the Collateral Trustee may reasonably request) in order to ensure that the Collateral Trustee has
a valid, perfected, second priority security interest in such Collateral, subject in the case of priority only, to any Permitted
Liens. Notwithstanding the foregoing, no Grantor shall be required to notify the Collateral Trustee or take any such action unless
such Collateral is of a material value or is material to such Grantor’s business; and


(b)          in
the event that it hereafter acquires or has any Commercial Tort Claim in excess of $500,000 individually or $1,000,000 in the
aggregate it shall deliver to the Collateral Trustee a completed Pledge Supplement, substantially in the form of Exhibit A attached
hereto, together with all Supplements to Schedules thereto, identifying such new Commercial Tort Claims.



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6.3          Ownership
of Collateral and Absence of Other Liens.


(a)          except
for the security interest created by this Agreement, it shall not create or suffer to exist any Lien upon or with respect to any
of the Collateral, other than Permitted Liens, and such Grantor shall defend the Collateral against all Persons at any time claiming
any interest therein;


(b)          upon
such Grantor or any officer of such Grantor obtaining knowledge thereof, it shall promptly notify the Collateral Trustee in writing
of any event that is reasonably likely to have a Material Adverse Effect on the value of the Collateral or any material portion
thereof, the ability of any Grantor or the Collateral Trustee to dispose of the Collateral or any material portion thereof, or
the rights and remedies of the Collateral Trustee in relation thereto, including, without limitation, the levy of any legal process
against the Collateral or any material portion thereof; and


(c)          it
shall not sell, transfer or assign (by operation of law or otherwise) or exclusively license to another Person any Collateral
except as otherwise permitted by the Indenture.


6.4          Status
of Security Interest.


(a)          Subject
to the limitations set forth in subsection (b) of this Section 6.4 and except as otherwise permitted by the Indenture, each Grantor
shall maintain the security interest of the Collateral Trustee hereunder in all Collateral as valid, perfected, second priority
Liens (subject, in the case of priority only, to Permitted Liens).


(b)          Notwithstanding
the foregoing (or anything else to the contrary herein or in any other Security Document), no Grantor shall be required to take
any action to (i) perfect a security interest in any Collateral that can only be perfected by Control, (ii) make foreign filings
with respect to Intellectual Property or (iii) make any filings with registrars of motor vehicles or similar governmental authorities
with respect to goods covered by a certificate of title, in each case except as and to the extent specified in Section 4 hereof.


6.5          Receivables.


(a)          it
shall keep and maintain at its own cost and expense satisfactory and complete records of the Receivables, including, but not limited
to, the originals of all documentation with respect to all Receivables and records of all payments received and all credits granted
on the Receivables, all merchandise returned and all other dealings therewith;


(b)          other
than in the ordinary course of business or as permitted by the Indenture Documents, following and during the continuation of an
Event of Default, (i) it shall not amend, modify, terminate or waive any provision of any Receivable in any manner which
could reasonably be expected to have a material adverse effect on the value of such Receivable; and (ii) it shall not (w) grant
any extension or renewal of the time of payment of any Receivable, (x) compromise or settle any dispute, claim or legal proceeding
with respect to any Receivable for less than the total unpaid balance thereof, (y) release, wholly or partially, any Person liable
for the payment thereof, or (z) allow any credit or discount thereon; and



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(c)          subject
to the terms of the Junior Priority Intercreditor Agreement, at any time following the occurrence and during the continuation
of an Event of Default, the Collateral Trustee shall have the right to notify, or require any Grantor to notify, any Account Debtor
of the Collateral Trustee’s security interest in the Receivables and any Supporting Obligation and, in addition, the Collateral
Trustee may: (1) direct the Account Debtors under any Receivables to make payment of all amounts due or to become due to such
Grantor thereunder directly to the Collateral Trustee; (2) notify, or require any Grantor to notify, each Person maintaining a
lockbox or similar arrangement to which Account Debtors under any Receivables have been directed to make payment to remit all
amounts representing collections on checks and other payment items from time to time sent to or deposited in such lockbox or other
arrangement directly to the Collateral Trustee; and (3) enforce, at the expense of such Grantor, collection of any such Receivables
and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as such Grantor might
have done. If the Collateral Trustee notifies any Grantor that it has elected to collect the Receivables in accordance with the
preceding sentence, any payments of Receivables received by such Grantor shall be forthwith (and in any event within two (2) Business
Days) deposited by such Grantor in the exact form received, duly indorsed by such Grantor to the Collateral Trustee and until
so turned over, all amounts and proceeds (including checks and other instruments) received by such Grantor in respect of the Receivables,
any Supporting Obligation or Collateral Support shall be received in trust for the benefit of the Collateral Trustee hereunder
and shall be segregated from other funds of such Grantor and such Grantor shall not adjust, settle or compromise the amount or
payment of any Receivable, or release wholly or partly any Account Debtor or obligor thereof, or allow any credit or discount
thereon.


6.6          Pledged
Equity Interests, Investment Related Property.


(a)          Except
as provided in the next sentence, in the event such Grantor receives any dividends, interest or distributions on any Pledged Equity
Interest or other Investment Related Property, upon the merger, consolidation, liquidation or dissolution of any issuer of any
Pledged Equity Interest or Investment Related Property, then (a) such dividends, interest or distributions and securities or other
property shall be included in the definition of Collateral without further action and (b) such Grantor shall immediately take
all steps, if any, necessary to ensure the validity, perfection, priority and, if applicable, control of the Collateral Trustee
over such Investment Related Property (including, without limitation, subject to the Junior Priority Intercreditor Agreement,
delivery thereof to the Collateral Trustee to the extent otherwise required pursuant to this Agreement) and pending any such action
such Grantor shall be deemed to hold such dividends, interest, distributions, securities or other property in trust for the benefit
of the Collateral Trustee and shall segregate such dividends, distributions, Securities or other property from all other property
of such Grantor. Notwithstanding the foregoing, so long as no Event of Default shall have occurred and be Continuing, the Collateral
Trustee authorizes each Grantor to retain all cash dividends and distributions paid in the normal course of the business of the
issuer and consistent with the past practice of the issuer and all payments of interest;


(b)         Voting.


(i)     So
long as no Event of Default shall have occurred and be Continuing, except as otherwise provided under the covenants and agreements
relating to Investment Related Property in this Agreement or elsewhere herein or in the Indenture, each Grantor shall be entitled
to exercise or refrain from exercising any and all voting and other consensual rights pertaining to the Investment Related Property
or any part thereof for any purpose not inconsistent with the terms of this Agreement or the Indenture; provided, no Grantor
shall exercise or refrain from exercising any such right without the prior written consent of the Collateral Trustee (as directed
by a majority of Holders in aggregate principal amount of Notes) if such action would have a Material Adverse Effect on the value
of the Collateral; it being understood, however, that neither the voting by such Grantor of any Pledged Stock for, or such Grantor’s
consent to, the election of directors (or similar governing body) at a regularly scheduled annual or other meeting of stockholders
or with respect to incidental matters at any such meeting, nor such Grantor’s consent to or approval of any action otherwise
permitted under this Agreement and the Indenture, shall be deemed inconsistent with the terms of this Agreement or the Indenture
within the meaning of this Section 6.6(b)(i); and



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(ii)          Upon
the occurrence and during the continuation of an Event of Default:


(1)         all
rights of each Grantor to exercise or refrain from exercising the voting and other consensual rights which it would otherwise
be entitled to exercise pursuant hereto shall cease and all such rights shall thereupon become vested in the Collateral Trustee
who shall thereupon have the sole right to exercise such voting and other consensual rights; and


(2)         in
order to permit the Collateral Trustee to exercise the voting and other consensual rights which it may be entitled to exercise
pursuant hereto and to receive all dividends and other distributions which it may be entitled to receive hereunder: (1) each Grantor
shall promptly execute and deliver (or cause to be executed and delivered) to the Collateral Trustee all proxies, dividend payment
orders and other instruments as the Collateral Trustee may from time to time reasonably request and (2) each Grantor acknowledges
that the Collateral Trustee may utilize the power of attorney set forth in Section 8.1; and


(c)         Except
to the extent not prohibited by the Indenture, without the prior written consent of the Collateral Trustee (as directed by a majority
of Holders in aggregate principal amount of Notes), it shall not vote to enable or take any other action to: (i) amend or terminate
any partnership agreement, limited liability company agreement, certificate of incorporation, by-laws or other organizational
documents in any way that materially changes the rights of such Grantor with respect to any Investment Related Property or adversely
affects the validity, perfection or priority of the Collateral Trustee’s security interest, (ii) permit any Subsidiary that
is an issuer of any Pledged Equity Interest to issue any additional stock, partnership interests, limited liability company interests
or other equity interests of any nature or to issue securities convertible into or granting the right of purchase or exchange
for any stock or other equity interest of any nature of such issuer, (iii) permit any issuer of any Pledged Equity Interest to
dispose of all or a material portion of their assets, (iv) waive any default under or breach of any terms of organizational document
relating to the issuer of any Pledged Equity Interest or the terms of any Pledged Debt consisting of intercompany debt or (v)
cause any issuer of any Pledged Partnership Interests or Pledged LLC Interests which are not securities (for purposes of the UCC)
on the date hereof to elect or otherwise take any action to cause such Pledged Partnership Interests or Pledged LLC Interests
to be treated as securities for purposes of the UCC; provided, however, notwithstanding the foregoing, if any issuer
of any Pledged Partnership Interests or Pledged LLC Interests takes any such action in violation of the foregoing in this clause
(v), such Grantor shall promptly notify the Collateral Trustee in writing of any such election or action and, in such event, shall
take all steps necessary or advisable to establish the Collateral Trustee’s “control” thereof; and



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(d)         Except
to the extent not prohibited by the Indenture, without the prior written consent of the Collateral Trustee (as directed by a majority
of Holders in aggregate principal amount of Notes), it shall not permit any issuer of any Pledged Equity Interest to merge or
consolidate unless (i) all the outstanding capital stock or other equity interests of the surviving or resulting corporation,
limited liability company, partnership or other entity is, upon such merger or consolidation, pledged hereunder and no cash, securities
or other property is distributed in respect of the outstanding equity interests of any other constituent Grantor; provided
that if the surviving or resulting Grantors upon any such merger or consolidation involving an issuer which is a Controlled
Foreign Corporation, then such Grantor shall only be required to pledge equity interests in accordance with Section 2 and (ii)
Grantor promptly complies with the delivery and control requirements of Section 4 hereof.


(e)         Such
Grantor covenants and agrees that, without the prior express written consent of the Collateral Trustee (as directed by a majority
of Holders in aggregate principal amount of Notes), it will not agree to any election by any limited liability company or partnership,
as applicable, to treat the Pledged LLC Interests or Pledged Partnership Interests, as applicable, as securities governed by the
Uniform Commercial Code of any jurisdiction and in any event will promptly notify the Collateral Trustee in writing if the representation
set forth in Section 5.5(c) becomes untrue for any reason and, in such event, take such action as necessary (or as the Collateral
Trustee may reasonably request) in order to establish the Collateral Trustee’s “control” (within the meaning
of Section 8-106 of the New York UCC) over such Pledged LLC Interests or Pledged Partnership Interests, as applicable. Such Grantor
shall not consent to any amendment to any related operating or partnership agreement, as applicable, that would render the representation
in Section 5.5(c) to no longer be true and correct.


6.7         Intellectual
Property.


(a)         Except
in each case as shall be consistent with commercially reasonable business judgment, it shall not do any act or omit to do any
act whereby any of the Material Intellectual Property, as determined at the time of the determination, may lapse, or become abandoned,
canceled, dedicated to the public, forfeited, unenforceable or otherwise impaired, or which would adversely affect the validity,
grant, or enforceability of the security interest granted therein;


(b)         it
shall not, with respect to any Trademarks constituting Material Intellectual Property at the time, cease the use of any of such
Trademarks or fail to maintain the level of the quality of products sold and services rendered under any of such Trademark at
a level at least substantially consistent with the quality of such products and services as of the date hereof, and each Grantor
shall take all steps reasonably necessary to insure that licensees of such Trademarks use such consistent standards of quality;


(c)         it
shall promptly notify the Collateral Trustee if it receives any demand or threat or is the subject of any claim in a formal proceeding
before a tribunal of competent authority of which it knows or has reason to know that any item of Material Intellectual Property
is or has become, or may become, (i) abandoned or dedicated to the public or placed in the public domain, (ii) invalid or unenforceable,
(iii) subject to any adverse determination (including the institution of, or any adverse claim with respect to, any action or
proceeding in the United States Patent and Trademark Office, the United States Copyright Office, any state registry, any foreign
counterpart of the foregoing, or any court) or (iv) the subject of any reversion or termination rights;


(d)         except
in each case as shall be consistent with commercially reasonable business judgment, it shall take all reasonable steps, including
in any proceeding before the United States Patent and Trademark Office, the United States Copyright Office, any state registry
or any foreign counterpart of the foregoing, to pursue any application and maintain any registration or issuance of each Trademark,
Patent, and Copyright owned by any Grantor and constituting Material Intellectual Property which is now or shall become included
in the Intellectual Property including, but not limited to, those items on Schedule 5.2(II) (as such schedule may be amended or
supplemented from time to time); and



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(e)         it
shall use commercially reasonable efforts so as not to permit the inclusion in any contract to which it hereafter becomes a party
of any provision that could or may in any way materially impair or prevent the creation of a security interest in, or the assignment
of, such Grantor’s rights and interests in any property included within the definitions of any Material Intellectual Property
acquired under such contracts.


Section
7.             ACCESS; RIGHT OF INSPECTION AND FURTHER
ASSURANCES; ADDITIONAL GRANTORS.


7.1         Access;
Right of Inspection.     The Collateral Trustee shall (at such Grantor’s expense) at all times have full and free
access (following reasonable advance notice) during normal business hours to all the books, correspondence and records of
each Grantor, and the Collateral Trustee and its representatives may (but shall not be obligated to) examine the same, take
extracts therefrom and make photocopies thereof, and each Grantor agrees to render to the Collateral Trustee, at such
Grantor’s cost and expense, such clerical and other assistance as may be reasonably requested with regard thereto. The
Collateral Trustee and its representatives shall at all times (following reasonable advance notice) also have the right (but
not the obligation) to enter any premises of each Grantor and inspect any property of each Grantor (during normal business
hours) where any of the Collateral of such Grantor granted pursuant to this Agreement is located for the purpose of
inspecting the same, observing its use or otherwise protecting its interests therein.


7.2         Further
Assurances.


(a)         Each
Grantor agrees that from time to time, at the expense of such Grantor, that it shall promptly execute and deliver all further
instruments and documents, and take all further action, that may be necessary, or that the Collateral Trustee may reasonably request,
in order to create and/or maintain the validity, perfection or priority of and protect any security interest granted or purported
to be granted hereby or to enable the Collateral Trustee to exercise and enforce its rights and remedies hereunder with respect
to any Collateral. Without limiting the generality of the foregoing, each Grantor shall:


(i)    file
such financing or continuation statements, or amendments thereto, record security interests in Intellectual Property and execute
and deliver such other agreements, instruments, endorsements, powers of attorney or notices, as may be necessary or desirable,
or as the Collateral Trustee may reasonably request, in order to effect, reflect, perfect and preserve the security interests
granted or purported to be granted hereby;


(ii)   take
all actions necessary to ensure the recordation of appropriate evidence of the liens and security interest granted hereunder in
any Intellectual Property with any United States intellectual property registry in which said Intellectual Property is registered
or issued or in which an application for registration or issuance is pending including, without limitation, the United States
Patent and Trademark Office, the United States Copyright Office, the various Secretaries of State;



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(iii)  at
any reasonable time, upon reasonable request by the Collateral Trustee, assemble the Collateral and allow inspection of the Collateral
by the Collateral Trustee, or persons designated by the Collateral Trustee;


(iv)   appear
in and defend any action or proceeding that may affect such Grantor’s title to or the Collateral Trustee’s security
interest in all or any part of the Collateral; and


(v)    furnish
the Collateral Trustee with such information regarding the Collateral, including, without limitation, the location thereof, as
the Collateral Trustee may reasonably request from time to time.


(b)          Without
limiting its obligations hereunder, each Grantor hereby authorizes the Collateral Trustee to file a Record or Records, including,
without limitation, financing or continuation statements, Intellectual Property Security Agreements and amendments and supplements
to any of the foregoing, in any jurisdictions and with any filing offices as the Collateral Trustee may determine, in its sole
discretion, are necessary to perfect or otherwise protect the security interest granted to the Collateral Trustee herein. Such
financing statements may describe the Collateral in the same manner as described herein or may contain an indication or description
of collateral that describes such property in any other manner as the Collateral Trustee may determine, in its sole discretion,
is necessary to ensure the perfection of the security interest in the Collateral granted to the Collateral Trustee herein, including,
without limitation, describing such property as “all assets, whether now owned or hereafter acquired, developed or created”
or words of similar effect. Each Grantor shall furnish to the Collateral Trustee from time to time statements and schedules further
identifying and describing the Collateral and such other reports in connection with the Collateral as the Collateral Trustee may
reasonably request, all in reasonable detail.


(c)          Each
Grantor hereby authorizes the Collateral Trustee to modify this Agreement after obtaining such Grantor’s approval of or
signature to such modification by amending Schedule 5.2 (as such schedule may be amended or supplemented from time to time) to
include reference to any right, title or interest in any existing Intellectual Property or any Intellectual Property acquired
or developed by any Grantor after the execution hereof or to delete any reference to any right, title or interest in any Intellectual
Property in which any Grantor no longer has or claims any right, title or interest.


7.3          Additional
Grantors. From time to time subsequent to the date hereof, additional Persons may become parties hereto as additional
Grantors (each, an “Additional Grantor”), by executing a Pledge Supplement. Upon delivery of any such
Pledge Supplement to the Collateral Trustee, notice of which is hereby waived by Grantors, each Additional Grantor shall be a
Grantor and shall be as fully a party hereto as if Additional Grantor were an original signatory hereto. Each Grantor
expressly agrees that its obligations arising hereunder shall not be affected or diminished by the addition or release of any
other Grantor hereunder. This Agreement shall be fully effective as to any Grantor that is or becomes a party hereto
regardless of whether any other Person becomes or fails to become or ceases to be a Grantor hereunder.


Section
8.             COLLATERAL AGENT APPOINTED ATTORNEY-IN-FACT.


8.1          Power
of Attorney. Each Grantor hereby irrevocably appoints the Collateral Trustee (such appointment being coupled with an
interest) as such Grantor’s attorney-in-fact, with full authority in the place and stead of such Grantor and in the
name of such Grantor, the Collateral Trustee or otherwise, from time to time in the Collateral Trustee’s discretion to
take any action and to execute any instrument that the Collateral Trustee may deem reasonably necessary to accomplish the
purposes of this Agreement, including, without limitation, the following:



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(a)          upon
the occurrence and during the Continuance of any Event of Default, to obtain and adjust insurance required to be maintained by
such Grantor or paid to the Collateral Trustee pursuant to the Indenture;


(b)          upon
the occurrence and during the Continuance of any Event of Default, to ask for, demand, collect, sue for, recover, compound, receive
and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral;


(c)          upon
the occurrence and during the Continuance of any Event of Default, to receive, endorse and collect any drafts or other instruments,
documents and chattel paper in connection with clause (b) above;


(d)          upon
the occurrence and during the Continuance of any Event of Default, to file any claims or take any action or institute any proceedings
that the Collateral Trustee may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce
the rights of the Collateral Trustee with respect to any of the Collateral;


(e)          upon
the occurrence and during the Continuance of any Event of Default, to prepare and file any UCC financing statements against such
Grantor as debtor;


(f)          upon
the occurrence and during the Continuance of any Event of Default, to prepare, sign, and file for recordation in any United States
intellectual property registry, appropriate evidence of the lien and security interest granted herein in the Intellectual Property
in the name of such Grantor as debtor;


(g)          upon
the occurrence and during the Continuance of any Event of Default, to take or cause to be taken all actions necessary to perform
or comply or cause performance or compliance with the terms of this Agreement, including, without limitation, access to pay or
discharge taxes or Liens (other than Permitted Liens) levied or placed upon or threatened against the Collateral, the legality
or validity thereof and the amounts necessary to discharge the same to be determined by the Collateral Trustee in its sole discretion,
any such payments made by the Collateral Trustee to become obligations of such Grantor to the Collateral Trustee, due and payable
immediately without demand; and


(h)          upon
the occurrence and during the Continuance of any Event of Default generally to sell, transfer, lease, license, pledge, make any
agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the Collateral Trustee
were the absolute owner thereof for all purposes, and to do, at the Collateral Trustee’s option and such Grantor’s
expense, at any time or from time to time, all acts and things that the Collateral Trustee deems reasonably necessary to protect,
preserve or realize upon the Collateral and the Collateral Trustee’s security interest therein in order to effect the intent
of this Agreement, all as fully and effectively as such Grantor might do.


8.2          No
Duty on the Part of Collateral Trustee or Secured Parties. The powers conferred on the Collateral Trustee hereunder are
solely to protect the interests of the Secured Parties in the Collateral and shall not impose any duty or obligation upon the
Collateral Trustee or any Secured Party to exercise any such powers. The Collateral Trustee and the Secured Parties shall be
accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any
of their officers, directors, employees or agents shall be responsible for any act or failure to act hereunder, except for
their own gross negligence or willful misconduct.



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Section
9.              REMEDIES.


9.1          Generally.


(a)          If
any Event of Default shall have occurred and be Continuing, subject to any Intercreditor Agreement, the Collateral Trustee may
exercise in respect of the Collateral, in addition to all other rights and remedies provided for herein or otherwise available
to it at law or in equity, all the rights and remedies of the Collateral Trustee on default under the UCC (whether or not the
UCC applies to the affected Collateral) to collect, enforce or satisfy any Secured Obligations then owing, whether by acceleration
or otherwise, and also may pursue any of the following separately, successively or simultaneously:


(i)     require
any Grantor to, and each Grantor hereby agrees that it shall at its expense and promptly upon request of the Collateral Trustee
forthwith, assemble all or part of the tangible Collateral as directed by the Collateral Trustee and make it available to the
Collateral Trustee at a place to be designated by the Collateral Trustee that is reasonably convenient to both parties;


(ii)    enter
onto the property where any Collateral is located and take possession thereof with or without judicial process;


(iii)   prior
to the disposition of the Collateral, store, process, repair or recondition the Collateral or otherwise prepare the Collateral
for disposition in any manner to the extent the Collateral Trustee deems appropriate; and


(iv)    without
notice except as specified below or under the UCC, sell, assign, lease, license (on an exclusive or nonexclusive basis) or otherwise
dispose of the Collateral or any part thereof in one or more parcels at public or private sale, at any of the Collateral Trustee’s
offices or elsewhere, for cash, on credit or for future delivery, at such time or times and at such price or prices and upon such
other terms as the Collateral Trustee may deem commercially reasonable.





(b)          The
Collateral Trustee or any other Secured Party may be the purchaser of any or all of the Collateral at any public or private (to
the extent to the portion of the Collateral being privately sold is of a kind that is customarily sold on a recognized market
or the subject of widely distributed standard price quotations) sale in accordance with the UCC and the Collateral Trustee, as
collateral trustee for and representative of the Secured Parties, shall be entitled, for the purpose of bidding and making settlement
or payment of the purchase price for all or any portion of the Collateral sold at any such sale made in accordance with the UCC,
to use and apply any of the Secured Obligations as a credit on account of the purchase price for any Collateral payable by the
Collateral Trustee at such sale. Each purchaser at any such sale shall hold the property sold absolutely free from any claim or
right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by applicable law) all rights of redemption,
stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or
hereafter enacted. Each Grantor agrees that, to the extent notice of sale shall be required by law, at least ten (10) days’
notice to such Grantor of the time and place of any public sale or the time after which any private sale is to be made shall constitute
reasonable notification. The Collateral Trustee shall not be obligated to make any sale of Collateral regardless of notice of
sale having been given. The Collateral Trustee may adjourn any public or private sale from time to time by announcement at the
time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.
Each Grantor agrees that it would not be commercially unreasonable for the Collateral Trustee to dispose of the Collateral or
any portion thereof by using Internet sites that provide for the auction of assets of the types included in the Collateral or
that have the reasonable capability of doing so, or that match buyers and sellers of assets. Each Grantor hereby waives any claims
against the Collateral Trustee arising by reason of the fact that the price at which any Collateral may have been sold at such
a private sale was less than the price which might have been obtained at a public sale, even if the Collateral Trustee accepts
the first offer received and does not offer such Collateral to more than one offeree. If the proceeds of any sale or other disposition
of the Collateral are insufficient to pay all the Secured Obligations, Grantors shall be liable for the deficiency and the fees
of any attorneys employed by the Collateral Trustee to collect such deficiency. Each Grantor further agrees that a breach of any
of the covenants contained in this Section will cause irreparable injury to the Collateral Trustee, that the Collateral Trustee
has no adequate remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in this
Section shall be specifically enforceable against such Grantor, and such Grantor hereby waives and agrees not to assert any defenses
against an action for specific performance of such covenants except for a defense that no default has occurred giving rise to
the Secured Obligations becoming due and payable prior to their stated maturities. Nothing in this Section shall in any way limit
the rights of the Collateral Trustee hereunder.



    	-27-



    	 



    




(c)          The
Collateral Trustee may sell the Collateral without giving any warranties as to the Collateral. The Collateral Trustee may specifically
disclaim or modify any warranties of title or the like. This procedure will not be considered to adversely affect the commercial
reasonableness of any sale of the Collateral.


(d)          The
Collateral Trustee shall have no obligation to marshal any of the Collateral.


9.2         Application
of Proceeds. Subject to the Intercreditor Agreements, except as expressly provided elsewhere in this Agreement, all
proceeds received by the Collateral Trustee in respect of any sale of, any collection from, or other realization upon all or
any part of the Collateral shall be applied in full or in part by the Collateral Trustee against, the Secured Obligations in
the following order of priority: first, to the payment of all reasonable costs and expenses of such sale, collection
or other realization, including reasonable compensation to the Trustee, the Collateral Trustee and their agents and counsel,
and all other expenses, liabilities and advances made or incurred by the Trustee or the Collateral Trustee in connection
therewith, and all amounts for which the Trustee or the Collateral Trustee is entitled to indemnification under the Indenture
Documents and all advances made by the Collateral Trustee hereunder for the account of the applicable Grantor, and to the
payment of all reasonable costs and expenses paid or incurred by the Collateral Trustee in connection with the exercise of
any right or remedy hereunder or under the Indenture Documents, all in accordance with the terms hereof or thereof; second,
to the extent of any excess of such proceeds, to the payment of all other Secured Obligations for the ratable benefit of the
Holders of the Notes; and third, to the extent of any excess of such proceeds, to the to the Company or to such party
as a court of competent jurisdiction shall direct including any Guarantor, if applicable.


9.3         Sales
on Credit. If the Collateral Trustee sells any of the Collateral upon credit, Grantor will be credited only with payments
actually made by purchaser and received by Collateral Trustee and applied to indebtedness of the purchaser. In the event the
purchaser fails to pay for the Collateral, Collateral Trustee may resell the Collateral and Grantor shall be credited with
proceeds of the sale.




9.4         Investment
Related Property. Each Grantor recognizes that, by reason of certain prohibitions contained in the Securities Act and
applicable state securities laws, the Collateral Trustee may be compelled, with respect to any sale of all or any part of the
Investment Related Property conducted without prior registration or qualification of such Investment Related Property under
the Securities Act and/or such state securities laws, to limit purchasers to those who will agree, among other things, to
acquire the Investment Related Property for their own account, for investment and not with a view to the distribution or
resale thereof. Each Grantor acknowledges that any such private sale may be at prices and on terms less favorable than those
obtainable through a public sale without such restrictions (including a public offering made pursuant to a registration
statement under the Securities Act) and, notwithstanding such circumstances, each Grantor agrees that any such private sale
shall not be deemed to have been made in a commercially unreasonable manner solely as a result of such limitation and that
the Collateral Trustee shall have no obligation to engage in public sales and no obligation to delay the sale of any
Investment Related Property for the period of time necessary to permit the issuer thereof to register it for a form of public
sale requiring registration under the Securities Act or under applicable state securities laws, even if such issuer would, or
should, agree to so register it. If the Collateral Trustee determines to exercise its right to sell any or all of the
Investment Related Property, upon written request, each Grantor shall and shall cause each issuer of any Pledged Stock to be
sold hereunder, each partnership and each limited liability company from time to time to furnish to the Collateral Trustee
all such information as the Collateral Trustee may reasonably request in order to determine the number and nature of
interest, shares or other instruments included in the Investment Related Property which may be sold by the Collateral Trustee
in exempt transactions under the Securities Act and the rules and regulations of the Securities and Exchange Commission
thereunder, as the same are from time to time in effect.



    	-28-



    	 



    




9.5         Grant
of Intellectual Property License.


For the purpose of enabling the Collateral Trustee, during the Continuance of an Event of
Default, to exercise rights and remedies under Section 9 hereof at such time as the Collateral Trustee shall be lawfully entitled
to exercise such rights and remedies, and for no other purpose, each Grantor hereby grants to the Collateral Trustee, to the extent
assignable, an irrevocable, non-exclusive license (exercisable without payment of royalty or other compensation to such Grantor),
subject, in the case of Trademarks, to sufficient rights to quality control and inspection in favor of such Grantor to avoid the
risk of invalidation of such Trademarks, to use, assign, license or sublicense any of the Intellectual Property now owned or hereafter
acquired, developed or created by such Grantor, wherever the same may be located. Such license shall include access to all media
in which any of the licensed items may be recorded or stored and to all computer programs used for the compilation or printout
hereof.


9.6         Intellectual
Property.


(a)          Anything
contained herein to the contrary notwithstanding, in addition to the other rights and remedies provided herein, upon the occurrence
and during the continuance of an Event of Default:




(i)     the
Collateral Trustee shall have the right (but not the obligation) to bring suit or otherwise commence any action or proceeding
in the name of any Grantor, the Collateral Trustee or otherwise, in the Collateral Trustee’s sole discretion, to enforce
any Intellectual Property rights of such Grantor, in which event such Grantor shall, at the request of the Collateral Trustee,
do any and all lawful acts and execute any and all documents reasonably required by the Collateral Trustee in aid of such enforcement
and such Grantor shall promptly, upon demand, reimburse and indemnify the Collateral Trustee as provided in Section 7.07 of the
Indenture in connection with the exercise of its rights under this Section 9.6, and, to the extent that the Collateral Trustee
shall elect not to bring suit to enforce any Intellectual Property rights as provided in this Section 9.6, each Grantor agrees
to use all reasonable measures, whether by action, suit, proceeding or otherwise, to prevent the infringement, misappropriation,
dilution or other violation of any of such Grantor’s rights in the Intellectual Property by others and for that purpose
agrees to diligently maintain any action, suit or proceeding against any Person so infringing, misappropriating, diluting or otherwise
violating, as shall be necessary to prevent such infringement, misappropriation, dilution or other violation;



    	-29-



    	 



    




(ii)    upon
written demand from the Collateral Trustee, each Grantor shall grant, assign, convey or otherwise transfer to the Collateral Trustee
or such Collateral Trustee’s designee all of such Grantor’s right, title and interest in and to any Intellectual Property
and shall execute and deliver to the Collateral Trustee such documents as are necessary or appropriate to carry out the intent
and purposes of this Agreement;


(iii)   each
Grantor agrees that such an assignment and/or recording shall be applied to reduce the Secured Obligations outstanding only to
the extent that the Collateral Trustee (or any Secured Party) receives cash proceeds in respect of the sale of, or other realization
upon, any such Intellectual Property;


(iv)   within
five (5) Business Days after written notice from the Collateral Trustee, each Grantor shall make available to the Collateral Trustee,
to the extent within such Grantor’s power and authority, such personnel in such Grantor’s employ on the date of such
Event of Default as the Collateral Trustee may reasonably designate, by name, title or job responsibility, to permit such Grantor
to continue, directly or indirectly, to produce, advertise and sell the products and services sold or delivered by such Grantor
under or in connection with any Trademarks or Trademark Licenses, such persons to be available to perform their prior functions
on the Collateral Trustee’s behalf and to be compensated by the Collateral Trustee at such Grantor’s expense on a
per diem, pro rata basis consistent with the salary and benefit structure applicable to each as of the date of such Event of Default;
and


(v)    the
Collateral Trustee shall have the right to notify, or require each Grantor to notify, any obligors with respect to amounts due
or to become due to such Grantor in respect of the Intellectual Property of such Grantor, of the existence of the security interest
created herein, to direct such obligors to make payment of all such amounts directly to the Collateral Trustee, and, upon such
notification and at the expense of such Grantor, to enforce collection of any such amounts and to adjust, settle or compromise
the amount or payment thereof, in the same manner and to the same extent as such Grantor might have done; it being understood
and agreed that


(1)          all
amounts and proceeds (including checks and other instruments) received by such Grantor in respect of amounts due to such Grantor
in respect of the Collateral or any portion thereof shall be received in trust for the benefit of the Collateral Trustee hereunder,
shall be segregated from other funds of such Grantor and shall be forthwith paid over or delivered to the Collateral Trustee in
the same form as so received (with any necessary endorsement) to be held as cash Collateral and applied as provided by Section
9.7 hereof; and




(2)          such
Grantor shall not adjust, settle or compromise the amount or payment of any such amount or release wholly or partly any obligor
with respect thereto or allow any credit or discount thereon.


(b)          If
(i) an Event of Default shall have occurred and, by reason of cure, waiver, modification, amendment or otherwise, no longer be
Continuing, (ii) no other Event of Default shall have occurred and be Continuing, (iii) an assignment or other transfer to the
Collateral Trustee of any rights, title and interests in and to any Intellectual Property of such Grantor shall have been previously
made and shall have become absolute and effective and (iv) the Secured Obligations shall not have become immediately due and payable,
upon the written request of any Grantor, the Collateral Trustee shall promptly execute and deliver to such Grantor, at such Grantor’s
sole cost and expense, such assignments or other transfer as may be necessary to reassign to such Grantor any such rights, title
and interests as may have been assigned to the Collateral Trustee as aforesaid, subject to any disposition thereof that may have
been made by the Collateral Trustee; provided, after giving effect to such reassignment, the Collateral Trustee’s
security interest granted pursuant hereto, as well as all other rights and remedies of the Collateral Trustee granted hereunder,
shall continue to be in full force and effect; and provided further, the rights, title and interests so reassigned
shall be free and clear of any other Liens granted by or on behalf of the Collateral Trustee and the Secured Parties.


9.7          Cash
Proceeds; Deposit Accounts.


(a)          If
any Event of Default shall have occurred and be Continuing, in addition to the rights of the Collateral Trustee specified in Section 6.5
with respect to payments of Receivables, all proceeds of any Collateral received by any Grantor consisting of cash, checks and
other near-cash items (collectively, “Cash Proceeds”) shall be held by such Grantor in trust for the Collateral
Trustee, segregated from other funds of such Grantor, and upon request by the Collateral Trustee shall, forthwith upon receipt
by such Grantor, be turned over to the Collateral Trustee in the exact form received by such Grantor (duly indorsed by such Grantor
to the Collateral Trustee, if required) and held by the Collateral Trustee. Any Cash Proceeds received by the Collateral Trustee
(whether from a Grantor or otherwise) may, in the sole discretion of the Collateral Trustee, (A) be held by the Collateral Trustee
for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether matured or unmatured)
and/or (B) then or at any time thereafter may be applied by the Collateral Trustee against the Secured Obligations then due and
owing.


Section
10.          COLLATERAL AGENT.


The
Collateral Trustee has been appointed to act as Collateral Trustee hereunder by the Holders of the Notes. The Collateral Trustee
shall be obligated, and shall have the right hereunder, to make demands, to give notices, to exercise or refrain from exercising
any rights, and to take or refrain from taking any action (including, without limitation, the release or substitution of Collateral),
solely in accordance with this Agreement and the Indenture. In furtherance of the foregoing provisions of this Section, each Secured
Party, by its acceptance of the benefits hereof, agrees that it shall have no right individually to realize upon any of the Collateral
hereunder, it being understood and agreed by such Secured Party that all rights and remedies hereunder may be exercised solely
by the Collateral Trustee for the benefit of Secured Parties in accordance with the terms of this Section. The provisions of the
Indenture relating to the Collateral Trustee or the Trustee, if applicable, including, without limitation, the provisions relating
to resignation or removal of the Collateral Trustee and the protections, rights, indemnities, powers and duties and immunities
of the Collateral Trustee are incorporated herein by this reference and shall survive any termination of the Indenture or removal
or resignation of the Collateral Trustee or Trustee, if applicable.




In
connection with exercising any right or discretionary duty hereunder (including, without limitation, the exercise of any rights
following the occurrence of an Event of Default), the Collateral Trustee shall be entitled to request and rely upon the direction
of Holders of a majority in aggregate outstanding amount of the Notes to direct the Collateral Trustee pursuant to the Indenture.
The Collateral Trustee shall not have any liability for taking any action at such direction or for its failure to take any action
pending the receipt of such direction. The Collateral Trustee shall not be responsible for and makes no representation as to the
validity or adequacy of this Agreement, and it shall not be responsible for any statement or recital in this Agreement. Neither
the Collateral Trustee nor any of its affiliates, directors, officers, agents or employees shall be responsible for or have any
duty to ascertain, inquire into or verify (i) any statement, warranty or representation made in connection with this Agreement;
(ii) the performance or observance of any of the covenants or agreements of the Company herein; or (iii) the receipt of items
required to be delivered to the Collateral Trustee.



    	-30-



    	 



    




Section
11.          CONTINUING SECURITY INTEREST; ASSIGNMENTS UNDER THE INDENTURE DOCUMENTS.


11.1        Continuing
Security Interest; Assignment. This Agreement shall create a continuing security interest in the Collateral and shall
remain in full force and effect until the payment in full of all Secured Obligations and inure, together with the rights and
remedies of the Collateral Trustee hereunder, to the benefit of the Collateral Trustee and its successors, transferees and
assigns. Without limiting the generality of the foregoing, any Secured Party may assign or otherwise transfer any
indebtedness held by it secured by this Agreement to any other person, and such other person shall thereupon become vested
with all the benefits in respect thereof granted to such Secured Party, herein or otherwise, subject however, to the
provisions of the Indenture.


11.2        Termination;
Release. A Grantor shall automatically be released from its obligations hereunder and/or the security interests in any
Collateral securing the Note Obligations shall in each case be automatically released upon the occurrence of any of the
circumstances set forth in Section 11.02 of the Indenture without delivery of any instrument or performance of any act by any
party. Upon any such termination and delivery of the documents referenced in Section 13.04 of the Indenture, the Collateral
Trustee shall, at the Grantors’ expense, execute and deliver to Grantors or otherwise authorize the filing of such
documents as Grantors shall reasonably request, including financing statement amendments to evidence such termination. Upon
any disposition of property permitted by the Indenture, the related Liens granted herein shall be deemed to be automatically
released and such property shall automatically revert to the applicable Grantor with no further action on the part of any
Person. The Collateral Trustee shall, at the applicable Grantor’s expense and upon delivery of the documents referenced
in Section 13.04 of the Indenture, execute and deliver or otherwise authorize the filing of such documents as such Grantor
shall reasonably request, in form and substance reasonably satisfactory to the Collateral Trustee, including financing
statement amendments to evidence such release.




Section
12.           STANDARD OF CARE; COLLATERAL AGENT MAY PERFORM.


The
powers conferred on the Collateral Trustee hereunder are solely to protect its interest in the Collateral and shall not impose
any duty upon it to exercise any such powers. Except for the exercise of reasonable care in the custody of any Collateral in its
possession and the accounting for moneys actually received by it hereunder, the Collateral Trustee shall have no duty as to any
Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining
to any Collateral. The Collateral Trustee shall be deemed to have exercised reasonable care in the custody and preservation of
Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Trustee
accords its own property. Neither the Collateral Trustee nor any of its directors, officers, employees or agents shall be liable
for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under
any obligation to sell or otherwise dispose of any Collateral upon the request of any Grantor or otherwise. If any Grantor fails
to perform any agreement contained herein, the Collateral Trustee may itself perform, or cause performance of, such agreement,
and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by each Grantor under Section 7.07
of the Indenture.



    	-31-



    	 



    




Section
13.           [RESERVED].


Section
14.           [RESERVED].


Section
15.           MISCELLANEOUS.


Any
notice required or permitted to be given under this Agreement shall be given in accordance with Section 13.02 of the Indenture.
No failure or delay on the part of the Collateral Trustee in the exercise of any power, right or privilege hereunder or under
any other Indenture Document shall impair such power, right or privilege or be construed to be a waiver of any default or acquiescence
therein, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof
or of any other power, right or privilege. All rights and remedies existing under this Agreement and the other Indenture Documents
are cumulative to, and not exclusive of, any rights or remedies otherwise available. In case any provision in or obligation under
this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the
remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected
or impaired thereby. All covenants hereunder shall be given independent effect so that if a particular action or condition is
not permitted by any of such covenants, the fact that it would be permitted by an exception to, or would otherwise be within the
limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or
condition exists. This Agreement shall be binding upon and inure to the benefit of the Collateral Trustee and Grantors and their
respective successors and assigns. No Grantor shall, without the prior written consent of the Collateral Trustee given in accordance
with the Indenture, assign any right, duty or obligation hereunder. This Agreement and the other Indenture Documents embody the
entire agreement and understanding among Grantors and the Collateral Trustee and supersede all prior agreements and understandings
among such parties relating to the subject matter hereof and thereof. Accordingly, the Security Documents may not be contradicted
by evidence of prior, contemporaneous or subsequent oral agreements of the parties. There are no unwritten oral agreements among
the parties. This Agreement may be executed in one or more counterparts and by different parties hereto in separate counterparts,
each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute
but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single
counterpart so that all signature pages are physically attached to the same document.


THIS
AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND ALL CLAIMS AND CONTROVERSIES ARISING OUT OF THE SUBJECT
MATTER HEREOF WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PROVISIONS THAT WOULD RESULT IN THE
APPLICATION OF ANY OTHER LAW (OTHER THAN ANY MANDATORY PROVISIONS OF THE UCC RELATING TO THE LAW GOVERNING PERFECTION AND THE
EFFECT OF PERFECTION OF THE SECURITY INTEREST).



    	-32-



    	 



    




SUBJECT
TO CLAUSE (E) OF THE FOLLOWING SENTENCE, ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY GRANTOR ARISING OUT OF OR RELATING HERETO
OR ANY OTHER INDENTURE DOCUMENT, OR ANY OF THE OBLIGATIONS, WILL BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION
IN THE STATE, COUNTY AND CITY OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH
GRANTOR, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, HEREBY EXPRESSLY AND IRREVOCABLY (A) ACCEPTS GENERALLY AND UNCONDITIONALLY
THE EXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS (OTHER THAN WITH RESPECT TO ACTIONS BY ANY AGENT IN RESPECT OF RIGHTS UNDER
ANY SECURITY AGREEMENT GOVERNED BY ANY LAWS OTHER THAN THE LAWS OF THE STATE OF NEW YORK OR WITH RESPECT TO ANY COLLATERAL SUBJECT
THERETO); (B) WAIVES (I) JURISDICTION AND VENUE OF COURTS IN ANY OTHER JURISDICTION IN WHICH IT MAY BE ENTITLED TO BRING SUIT
BY REASON OF ITS PRESENT OR FUTURE DOMICILE OR OTHERWISE AND (II) ANY DEFENSE OF FORUM NON CONVENIENS; (C) AGREES THAT SERVICE
OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED,
TO THE APPLICABLE GRANTOR AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH THIS SECTION 15; (D) AGREES THAT SERVICE AS PROVIDED IN CLAUSE
(C) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE GRANTOR IN ANY SUCH PROCEEDING IN ANY SUCH COURT,
AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (E) AGREES THAT THE COLLATERAL TRUSTEE RETAINS THE
RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST ANY GRANTOR IN THE COURTS OF ANY OTHER
JURISDICTION IN CONNECTION WITH THE EXERCISE OF ANY RIGHTS UNDER ANY SECURITY DOCUMENT OR THE ENFORCEMENT OF ANY JUDGMENT.


EACH
OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON
OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER INDENTURE DOCUMENTS OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER
OF THIS TRANSACTION OR THE COLLATERAL TRUSTEE/COMPANY RELATIONSHIP THAT IS BEING ESTABLISHED. THE SCOPE OF THIS WAIVER IS INTENDED
TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION,
INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO
ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON
THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED FUTURE DEALINGS.
EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY
AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT
IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION
15 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER WILL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS
OR MODIFICATIONS HERETO OR ANY OF THE OTHER INDENTURE DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE NOTES.
IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.


 


[Remainder
of page intentionally left blank]




    	-33-



    	 



    

IN
WITNESS WHEREOF, each Grantor and the Collateral Trustee have caused this Agreement to be duly executed and delivered by their
respective officers thereunto duly authorized as of the date first written above.



	 	 	 
	 	OCWEN
    LOAN SERVICING, LLC,
	 	as
    Grantor
	 	 	 
	 	By:	/s/
    Michael R. Bourque, Jr.
	 	 	Name: Michael
    R. Bourque, Jr.
	 	 	Title: Chief
    Financial Officer
	 	 	 
	 	OCWEN
    FINANCIAL CORPORATION,
	 	as
    Grantor
	 	 	 
	 	By:	/s/
    Michael R. Bourque, Jr.
	 	 	Name: Michael
    R. Bourque, Jr.
	 	 	Title: Chief
    Financial Officer
	 	 	 
	 	OCWEN
    MORTGAGE SERVICING, INC.,
	 	as
    Grantor
	 	 	 
	 	By:	/s/
    Michael R. Bourque, Jr.
	 	 	Name: Michael
    R. Bourque, Jr.
	 	 	Title: Chief
    Financial Officer
	 	 	 
	 	HOMEWARD
    RESIDENTIAL HOLDINGS,
	 	INC.,
    as Grantor
	 	 	 
	 	By:	/s/ John V. Britti




	 	 	Name: John
    V. Britti
	 	 	Title: Chief
    Financial Officer
	 	 	 
	 	HOMEWARD
    RESIDENTIAL, INC., as
	 	Grantor
	 	 	 
	 	By:	/s/ John V. Britti
	 	 	Name: John
    V. Britti
	 	 	Title:
    Chief Financial Officer
	 	 	 
	 	AUTOMOTIVE
    CAPITAL SERVICES,
	 	INC.,
    as Grantor
	 	 
	 	By:	/s/
                                         Mark L. Freeman




	 	 	Name: Mark
    L. Freeman
	 	 	Title: Treasurer
	 	 	 
	 	WILMINGTON
    TRUST, NATIONAL
	 	ASSOCIATION,
    as Collateral Trustee
	 	 
	 	By:	/s/
    John T. Needham, Jr.
	 	 	Name: John
    T. Needham, Jr.
	 	 	Title: Vice
    President
	 	 	 




[Signature
Page to Pledge and Security Agreement]



    	



    	 



    


 






SCHEDULE 5.1




TO PLEDGE AND SECURITY AGREEMENT


GENERAL INFORMATION


		(A)	Full Legal Name, Type of Organization, Jurisdiction of Organization, Chief Executive Office/Sole Place of Business (or Residence
if Grantor is a Natural Person) and Organizational Identification Number of each Grantor:





	Full
    Legal Name	 	Type
    of

 Organization	 	Jurisdiction
    of

 Organization	 	Chief
Executive

Office/Sole Place of

 Business (or Residence 

if Grantor is a 

Natural Person)
	 	Organization
    I.D.#
	 	 	 	 	 	 	 	 	 





 


		(B)	Other Names (including any Trade Name or Fictitious Business Name) under which each Grantor currently conducts business:



	Full
    Legal Name	 	 	Trade
    Name or Fictitious Business Name	 
	 	 	 
	 	 	 





		(C)	Changes in Name, Jurisdiction of Organization, Chief Executive Office or Sole Place of Business (or Principal Residence if
Grantor is a Natural Person) and Corporate Structure within past five (5) years:



	Grantor	 	 	Date of Change	 	 	Description of Change	 
	 	 	 	 	 





    	Schedule 5.1-1



    	 



    

SCHEDULE 5.2




TO PLEDGE AND SECURITY AGREEMENT


COLLATERAL IDENTIFICATION


		I.	INVESTMENT RELATED PROPERTY



		(A)	Pledged Stock:



	Grantor	Stock Issuer	Class of Stock	Certificated (Y/N)	Stock Certificate No.	Par Value	No. of Pledged Stock	Percentage of Outstanding Stock of the Stock Issuer


 




		(B)	Pledged LLC Interests:



	
         

        Grantor
	
         

        Limited Liability Company
	
         

        Certificated (Y/N)
	
         

        Certificate No. (if any)
	
         

        No. of Pledged Units
	Percentage of Outstanding LLC Interests of the Limited Liability Company


  


		(C)	Pledged Partnership Interests:



	
         

        Grantor
	
         

        Partnership
	Type of Partnership Interests (e.g., general or limited)	
         

        Certificated (Y/N)
	
         

        Certificate No.

        (if any)
	Percentage of Outstanding Partnership Interests of the Partnership





 


	(D)	Trust Interests or other Equity Interests not listed above
	 	 
	 	None.





		(E)	Excluded Equity Interests





	
         

        Grantor
	
         

        Stock Issuer /LLC/Partnership/Trust
	Percentage of Outstanding Interests of such Entity


 



    	Schedule 5.2-1



    	 



    


		(F)	Pledged Debt:



	
         

        Grantor
	
         

        Issuer
	Original Principal Amount	Outstanding Principal Balance	
         

        Issue Date
	
         

        Maturity Date



 


		·	The Grantors hold indebtedness with respect to auto dealer floorplan loans in the ordinary course
of business.






		·	The Grantors hold indebtedness with respect to mortgage loans in the ordinary course of business.






 


		(G)	Securities Account:



	Account Name/Title	Name of Institution	Account Number


  


		(H)	Deposit Accounts:





	Bank Name	Account Number	Account Title



 


		(I)	Commodity Contracts and Commodity Accounts:



	Account Name/Title	Name of Institution	Account Number


 




    	Schedule 5.2-2



    	 



    

		II.	INTELLECTUAL PROPERTY



		(A)	Copyrights



None.


 


		(B)	Copyright Licenses



None


 


		(C)	Patents



	
         

        Grantor
	
         

         

         

        Jurisdiction
	Title of Patent	
         

        Patent Number/(Application Number)
	
         

        Issue Date/(Filing Date)

	
         

         
	 	
         

         
	
         

         
	
         

         



 


		(D)	Patent Licenses



None


 


		(E)	Trademarks



Registrations:


	REFERENCE #	MARK	FILED	APP #	REG DT	REG #	STATUS


 


UNITED STATES


	Trademark	App. No. 	Filing Date	Reg. No. 	Reg. Date	Owner	Status


 


Applications:


CANADA:


	REFERENCE #	MARK	FILED	APP #	STATUS


 


UNITED STATES


	Trademark	Application No. 	Filing Date	Owner	Status


 


		(G)	Trade Secret Licenses





None.


 


		III.	COMMERCIAL TORT CLAIMS



None.


		IV.	LETTER OF CREDIT RIGHTS



None.




    	Schedule 5.2-3



    	 



    

SCHEDULE 5.4




TO PLEDGE AND SECURITY AGREEMENT


FINANCING STATEMENTS:


	Grantor	Filing Jurisdiction(s)
	Ocwen Financial Corporation 	Florida Secured Transaction Registry
	Ocwen Loan Servicing, LLC	Secretary of State of the State of Delaware
	Ocwen Mortgage Servicing, Inc.	Office of the Lieutenant Governor, Division of Corporations and Trademarks, in St. Thomas, United States Virgin Islands
	Homeward Residential Holdings, Inc.	Secretary of State of the State of Delaware
	Homeward Residential, Inc.	Secretary of State of the State of Delaware
	Automotive Capital Services, Inc.	Secretary of State of the State of Delaware




    	



    	 



    


 



EXHIBIT
A


TO SECOND LIEN NOTES PLEDGE AND SECURITY AGREEMENT


PLEDGE
SUPPLEMENT


This
PLEDGE SUPPLEMENT, dated [mm/dd/yy] (this “Pledge Supplement”), is delivered by [NAME OF GRANTOR]
a [Name of State of Incorporation] [Corporation] (the “Grantor”) pursuant to the Second Lien
Notes Pledge and Security Agreement, dated as of December 5, 2016 (as it may be from time to time amended, restated, modified
or supplemented, the “Security Agreement”), among OCWEN LOAN SERVICING, LLC, a Delaware limited liability company
(the “Company”) and a wholly-owned subsidiary of OCWEN FINANCIAL CORPORATION, a Florida corporation (“Parent”),
the Parent, the other Grantors named therein, and WILMINGTON TRUST, NATIONAL ASSOCIATION, as the Collateral Trustee (together
with its successors and assigns, the “Collateral Trustee”). Capitalized terms used herein not otherwise defined
herein shall have the meanings ascribed thereto in the Security Agreement.


The
Grantor hereby becomes a party to the Security Agreement, confirms the grant to the Collateral Trustee set forth in the Security
Agreement of, and does hereby grant to the Collateral Trustee, a security interest in all of the Grantor’s right, title
and interest in, to and under all Collateral to secure the Secured Obligations, in each case whether now or hereafter existing
or in which Grantor now has or hereafter acquires an interest and wherever the same may be located. The Grantor represents and
warrants that the attached Supplements to the Schedules of the Security Agreement accurately and completely set forth all additional
information required to be provided pursuant to the Security Agreement and hereby agrees that such Supplements to Schedules of
the Security Agreement shall constitute part of the Schedules to the Security Agreement.


THIS
PLEDGE SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND ALL CLAIMS AND CONTROVERSIES ARISING OUT OF THE
SUBJECT MATTER HEREOF WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PROVISIONS THAT WOULD RESULT
IN THE APPLICATION OF ANY OTHER LAW (OTHER THAN ANY MANDATORY PROVISIONS OF THE UCC RELATING TO THE LAW GOVERNING PERFECTION AND
THE EFFECT OF PERFECTION OF THE SECURITY INTEREST).


 


[Remainder of
page intentionally left blank]




    	Exhibit A-1



    	 



    

IN
WITNESS WHEREOF, the Grantor has caused this Pledge Supplement to be duly executed and delivered by its duly authorized officer
as of [mm/dd/yy].


 


	 	[NAME OF GRANTOR]
	 	 
	 	By: 	           
	 	Name:
 Title:





    	Exhibit A-2



    	 



    

SUPPLEMENT
TO SCHEDULE 5.1



TO PLEDGE AND SECURITY AGREEMENT


Additional Information:


GENERAL
INFORMATION


		(A)	Full
                                         Legal Name, Type of Organization, Jurisdiction of Organization, Chief Executive Office/Sole
                                         Place of Business (or Residence if Grantor is a Natural Person) and Organizational Identification
                                         Number of each Grantor:



	Full
    Legal Name	 	Type
    of

 Organization	 	Jurisdiction
    of

 Organization	 	Chief
Executive

Office/Sole Place of

 Business (or Residence 

if Grantor is a 

Natural Person)
	 	Organization
    I.D.#
	 	 	 	 	 	 	 	 	 


 


		(B)	Other
                                         Names (including any Trade Name or Fictitious Business Name) under which each Grantor
                                         currently conducts business:



	Full
    Legal Name 	Trade
    Name or Fictitious Business Name


 


		(C)	Changes
                                         in Name, Jurisdiction of Organization, Chief Executive Office or Sole Place of Business
                                         (or Principal Residence if Grantor is a Natural Person) and Corporate Structure within
                                         past five (5) years:



	Grantor	 	Date
    of Change	 	Description
    of Change
	 	 	 	 	 





    	Exhibit A-3



    	 



    

SUPPLEMENT
TO SCHEDULE 5.2



TO PLEDGE AND SECURITY AGREEMENT


COLLATERAL
IDENTIFICATION


I.INVESTMENT RELATED
PROPERTY


(A)Pledged Stock:


	Grantor	Stock
    Issuer	Class
    of Stock	Certificated
    (Y/N)	Stock
    Certificate No.	Par
    Value	No.
    of Pledged Stock	Percentage
    of Outstanding Stock of the Stock Issuer
	 

         
	 

         
	 

         
	 

         
	 

         
	 

         
	 

         
	 

         



 


(B)Pledged
LLC Interests:





	 

        Grantor
	 

        Limited Liability Company
	 

        Certificated (Y/N)
	 

        Certificate No. (if any)
	 

        No. of Pledged Units
	Percentage
    of Outstanding LLC Interests of the Limited Liability Company
	 

         
	 

         
	 

         
	 

         
	 

         
	 

         



 


(C)Pledged Partnership
Interests:


	 

        Grantor
	 

        Partnership
	Type
    of Partnership Interests (e.g., general or limited)	 

        Certificated (Y/N)
	 

        Certificate No.

        (if any)
	Percentage
    of Outstanding Partnership Interests of the Partnership
	 

         
	 

         
	 

         
	 

         
	 

         
	 

         



 


(D)Pledged Trust Interests:


	 

        Grantor
	 

        Trust
	 

        Class of Trust Interests
	 

        Certificated (Y/N)
	 

        Certificate No.

        (if any)
	Percentage
    of Outstanding Trust Interests of the Trust
	 

         
	 

         
	 

         
	 

         
	 

         
	 

         







    	Exhibit A-4



    	 



    




(E)Excluded Equity Interests


 


	 

        Grantor
	 

        Stock Issuer /LLC/Partnership/Trust
	 

        Class of Stock/Type of
        Partnership/ Class of Trust Interests
	 

        Certificated (Y/N)
	 

        Certificate No.

        (if any)
	No.
    of Pledged Stock/Units	Percentage
    of Outstanding Interests of such Entity
	 

         
	 

         
	 

         
	 

         
	 

         
	 	 

         



 


(F)Pledged Debt:





	 

        Grantor
	 

        Issuer
	Original
    Principal Amount	Outstanding
    Principal Balance	 

        Issue Date
	 

        Maturity Date

	 

         
	 

         
	 

         
	 

         
	 

         
	 

         



 


(G)Securities Account:





	 

        Grantor
	Share
    of Securities Intermediary	 

        Account Number
	 

        Account Name

	 

         
	 

         
	 

         
	 

         



 


(H)Deposit Accounts:





	 

        Grantor
	 

        Name of Depositary Bank
	 

        Account Number
	 

        Account Name

	 

         
	 

         
	 

         
	 

         



 


(I)Commodity Contracts and Commodity
Accounts:





	 

        Grantor
	Name
    of Commodities Intermediary	 

        Account Number
	 

        Account Name

	 

         
	 

         
	 

         
	 

         







    	Exhibit A-5



    	 



    



II.INTELLECTUAL PROPERTY


(A)Copyrights


	 

        Grantor
	Jurisdiction	 

         

        Title of Work
	 

        Registration Number (if
        any)
	 

        Registration Date

	 

         
	 

         
	 	 

         
	 

         



 


(B)Copyright Licenses


	 

        Grantor
	Description
    of Copyright License	 

        Registration Number (if
        any) of underlying Copyright
	 

        Name of Licensor

	 

         
	 

         
	 

         
	 

         



 


(C)Patents


	 

        Grantor
	 

         

         

        Jurisdiction
	Title
    of Patent	 

        Patent Number/(Application
        Number)
	 

        Issue Date/(Filing Date)

	 

         
	 	 

         
	 

         
	 

         



 


(D)Patent Licenses


	 

        Grantor
	Description
    of Patent License	 

        Patent Number of underlying
        Patent
	 

        Name of Licensor

	 

         
	 

         
	 

         
	 

         



 


(E)Trademarks


	 

        Grantor
	 

         

        Jurisdiction
	Trademark	 

        Registration Number/(Serial
        Number)
	 

        Registration Date/(Filing
        Date)

	 

         
	 	 

         
	 

         
	 

         



 


(F)Trademark Licenses


	 

        Grantor
	Description
    of Trademark License	Registration
    Number of underlying Trademark	 

        Name of Licensor

	 

         
	 

         
	 

         
	 

         






    	Exhibit A-6



    	 



    



(G)Trade Secret Licenses


	 

        Grantor
	Description
    of Trade Secret License	Registration
    Number (if any)	 

        Name of Licensor

	 

         
	 

         
	 

         
	 

         






III.COMMERCIAL TORT
CLAIMS


	Grantor	Commercial
    Tort Claims


 


IV. LETTER OF CREDIT RIGHTS


 


	Grantor	Description
    of Letters of Credit
	 	 




    	Exhibit A-7



    	 



    

SUPPLEMENT
TO SCHEDULE 5.4 TO



PLEDGE AND SECURITY AGREEMENT


FINANCING STATEMENTS:


	Grantor	Filing
    Jurisdiction(s)
	 	 




    	Exhibit A-8



    	 



    



 



EXHIBIT
B



TO SECOND LIEN NOTES PLEDGE AND SECURITY AGREEMENT


SECOND
LIEN UNCERTIFICATED SECURITIES CONTROL AGREEMENT


This
Second Lien Uncertificated Securities Control Agreement, dated as of [_________], 20[__] (this “Control Agreement”)
among [________________] (the “Pledgor”), WILMINGTON TRUST, NATIONAL ASSOCIATION, as collateral trustee for
the Secured Parties (together with its successors and assigns, the “Collateral Trustee”) and [____________],
a [________] [corporation] (the “Issuer”). Capitalized terms used but not defined herein shall have the meanings
assigned in the Second Lien Notes Pledge and Security Agreement, dated December 5, 2016, among the Pledgor, the other Grantors
party thereto and WILMINGTON TRUST, NATIONAL ASSOCIATION, as the Collateral Trustee (the “Security Agreement”).


Section
1. Registered Ownership of Shares. The Issuer hereby confirms and agrees that as of the date hereof the Pledgor is the registered
owner of [__________] shares of the Issuer’s [common] stock (the “Pledged Shares”) and the Issuer shall
not change the registered owner of the Pledged Shares without the prior written consent of the Collateral Trustee.


Section
2. Instructions. If at any time the Issuer shall receive instructions originated by the Collateral Trustee relating to the
Pledged Shares, the Issuer shall comply with such instructions without further consent by the Pledgor or any other person.


Section
3. Additional Representations and Warranties of the Issuer. The Issuer hereby represents and warrants to the Collateral Trustee
that:


(a)
Except for the Credit Agreement Security Agreement or as otherwise disclosed in writing to the Collateral Trustee, it has not
entered into, and until the termination of this Control Agreement will not enter into, any agreement with any other person relating
the Pledged Shares pursuant to which it has agreed to comply with instructions originated by such other person; and


(b)
Except for the Credit Agreement Security Agreement or as otherwise disclosed in writing to the Collateral Trustee, it has not
entered into, and until the termination of this Control Agreement will not enter into, any agreement with the Pledgor or the Collateral
Trustee purporting to limit or condition the obligation of the Issuer to comply with instructions of the Collateral Trustee as
set forth in Section 2 hereof.


(c)
Except for the claims and interest of the Credit Agreement Agent under the Credit Agreement Security Agreement or as otherwise
disclosed in writing to the Collateral Trustee, the Collateral Trustee and the Pledgor in the Pledged Shares, the Issuer does
not know of any claim to, or interest in, the Pledged Shares. If any person (other than the Credit Agreement Agent) asserts any
lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process)
against the Pledged Shares, the Issuer will promptly notify the Collateral Trustee and the Pledgor thereof.


(d)
This Control Agreement is the valid and legally binding obligation of the Issuer.


Section
4. Choice of Law. This Control Agreement shall be governed by the laws of the State of New York.



    	Exhibit B-1



    	 



    




Section
5. Conflict with Other Agreements. In the event of any conflict between this Control Agreement (or any portion thereof) and
any other agreement now existing or hereafter entered into, other than any Intercreditor Agreement, the terms of this Control
Agreement shall prevail. In the event of any conflict or inconsistency between the provisions of this Agreement and any Intercreditor
Agreement (including the Junior Priority Intercreditor Agreement), the provisions of such Intercreditor Agreement shall control;
provided that nothing in the Intercreditor Agreement shall limit the rights, protections, immunities or indemnities of the Collateral
Trustee under the Indenture Documents. No amendment or modification of this Control Agreement or waiver of any right hereunder
shall be binding on any party hereto unless it is in writing and is signed by all of the parties hereto.


Section
6. Voting Rights. Until such time as the Collateral Trustee shall otherwise instruct the Issuer in writing, the Pledgor shall
have the right to vote the Pledged Shares.


Section
7. Successors; Assignment. The terms of this Control Agreement shall be binding upon, and shall inure to the benefit of, the
parties hereto and their respective corporate successors or heirs and personal representatives who obtain such rights solely by
operation of law. The Collateral Trustee may assign its rights hereunder only with the express written consent of the Issuer and
by sending written notice of such assignment to the Pledgor.


Section
8.  Indemnification of Issuer. The Pledgor and the Collateral Trustee each hereby agree that (a) the Issuer is released
from any and all liabilities to the Pledgor and the Collateral Trustee arising from the terms of this Control Agreement and the
compliance of the Issuer with the terms hereof, except to the extent that such liabilities arise from the Issuer’s negligence
and (b) the Pledgor, its successors and assigns shall at all times indemnify and save harmless the Issuer from and against any
and all claims, actions and suits of others arising out of the terms of this Control Agreement or the compliance of the Issuer
with the terms hereof, except to the extent that such arises from the Issuer’s negligence, and from and against any and
all liabilities, losses, damages, costs, charges, counsel fees and other expenses of every nature and character arising by reason
of the same, until the termination of this Control Agreement.


Section
9. Notices. Any notice, request or other communication required or permitted to be given under this Control Agreement shall
be in writing and deemed to have been properly given when delivered in person, or when sent by telecopy or other electronic means
and electronic confirmation of error free receipt is received or two (2) days after being sent by certified or registered United
States mail, return receipt requested, postage prepaid, addressed to the party at the address set forth below.


	Pledgor:	[Name and Address
    of Pledgor]




		Attention:  [________________]

    Telecopier:[________________]
	 	 




	Collateral
    Trustee:	WILMINGTON
    TRUST, NATIONAL ASSOCIATION




		1100 North
    Market Street




		Wilmington,
    Delaware 19890




		Attention:    Ocwen
    Loan Servicing, LLC Administrator
 Telecopier:  (302) 636-4149




 


	Issuer:	[Insert Name
    and Address of Issuer]




		Attention:  [________________]

    Telecopier:[________________]




 


Any
party may change its address for notices in the manner set forth above.



    	Exhibit B-2



    	 



    




Section
10. Termination. The obligations of the Issuer to the Collateral Trustee pursuant to this Control Agreement shall continue
in effect until the security interests of the Collateral Trustee in the Pledged Shares have been terminated pursuant to the terms
of the Security Agreement and the Collateral Trustee has notified the Issuer of such termination in writing. The Collateral Trustee
agrees to provide Notice of Termination in substantially the form of Exhibit A hereto to the Issuer upon the request of
the Pledgor on or after the termination of the Collateral Trustee’s security interest in the Pledged Shares pursuant to
the terms of the Security Agreement. The termination of this Control Agreement shall not terminate the Pledged Shares or alter
the obligations of the Issuer to the Pledgor pursuant to any other agreement with respect to the Pledged Shares.


Section
11. Counterparts. This Control Agreement may be executed in any number of counterparts, all of which shall constitute one
and the same instrument, and any party hereto may execute this Control Agreement by signing and delivering one or more counterparts.


The
Collateral Trustee is executing this Agreement solely in its capacity as Collateral Trustee under the Security Agreement. In entering
into this Agreement, and in taking (or refraining from) any actions under or pursuant to this Agreement, the Collateral Trustee
shall be protected by and shall enjoy all of the rights, privileges, immunities, protections and indemnities granted to it under
the Security Agreement and Indenture Documents.


[Remainder of
page intentionally left blank]




    	Exhibit B-3



    	 



    

IN
WITNESS WHEREOF, the parties hereto have caused this Control Agreement to be executed as of the date first above written by their
respective officers thereunto duly authorized.


 


	 	[NAME OF PLEDGOR],

as Pledgor
	 	 
	 	By: 	           
	 	Name:
 Title:





	 	[NAME OF ISSUER],

    as Issuer
	 	 
	 	By: 	           
	 	Name:
 Title:







	 	WILMINGTON TRUST, NATIONAL ASSOCIATION,

    as Collateral Trustee
	 	 
	 	By: 	           
	 	Name:
 Title:




    	Exhibit B-4



    	 



    


 



Exhibit
A


[Letterhead
of Collateral Trustee]


[Date]


[Name and Address of Issuer]

Attention: [              ]


Re: Termination
of Control Agreement


You
are hereby notified that the Uncertificated Securities Control Agreement between you, [Name of Pledgor] (the “Pledgor”)
and the undersigned (a copy of which is attached) is terminated and you have no further obligations to the undersigned pursuant
to such Uncertificated Securities Control Agreement (the “Control Agreement”). Notwithstanding any previous
instructions to you, you are hereby instructed to accept all future instructions with respect to Pledged Shares (as defined in
the Control Agreement) from the Pledgor. This notice terminates any obligations you may have to the undersigned with respect to
the Pledged Shares, however, nothing contained in this notice shall alter any obligations which you may otherwise owe to the Pledgor
pursuant to any other agreement.


You
are instructed to deliver a copy of this notice by facsimile transmission to the Pledgor.





	 	Very truly yours,

    WILMINGTON TRUST, NATIONAL ASSOCIATION,

    as Collateral Trustee
	 	 
	 	By: 	           
	 	Name:
 Title:





    	Exhibit B-5



    	 



    


 



EXHIBIT
C



TO SECOND LIEN NOTES PLEDGE AND SECURITY AGREEMENT


FORM
OF SECOND LIEN TRADEMARK SECURITY AGREEMENT


This
SECOND LIEN TRADEMARK SECURITY AGREEMENT, dated as of [__________], 20[__] (as it may be amended, restated, supplemented
or otherwise modified from time to time, this “Agreement”), is made by the entities identified as grantors
on the signature pages hereto (collectively, the “Grantors”) in favor of Wilmington Trust, National Association,
as collateral trustee for the Secured Parties (in such capacity, together with its successors and permitted assigns, the “Collateral
Trustee”).


WHEREAS,
the Grantors are party to a Second Lien Notes Pledge and Security Agreement, dated as of December 5, 2016 (as it may be amended,
restated, supplemented or otherwise modified from time to time, the “Pledge and Security Agreement”)
among each of the Grantors and the other grantors party thereto and the Collateral Trustee pursuant to which the Grantors granted
a security interest to the Collateral Trustee in the Trademark Collateral (as defined below) and are required to execute and deliver
this Agreement.


NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Grantors hereby agree with the Collateral Trustee as follows:


SECTION 1.         Defined Terms


Unless
otherwise defined herein, terms defined in the Pledge and Security Agreement and used herein have the meanings given to them in
the Pledge and Security Agreement.


SECTION 2.         Grant of
Security Interest in Trademark Collateral


SECTION
2.1Grant of Security. Each Grantor hereby grants to the Collateral Trustee, for the benefit of the Secured Parties, a
security interest in and continuing lien on all of such Grantor’s right, title and interest in, to and under the following,
in each case whether now owned or existing or hereafter acquired, developed, created or arising and wherever located (collectively,
the “Trademark Collateral”):


(a)             
all United States, and foreign trademarks, trade names, trade dress, corporate names, company names, business names, fictitious
business names, Internet domain names, service marks, certification marks, collective marks, logos, other source or business identifiers,
designs and general intangibles of a like nature, whether or not registered and with respect to any and all of the foregoing:
(i) all registrations and applications therefor including, without limitation, the registrations and applications listed or required
to be listed in Schedule A attached hereto under the heading “Trademarks”, (ii) all extensions or renewals of any
of the foregoing, (iii) all of the goodwill of the business connected with the use of and symbolized by any of the foregoing,
(iv) the right to sue or otherwise recover for any past, present and future infringement, dilution or other violation of
any of the foregoing or for any injury to the related goodwill, (v) all Proceeds of the foregoing, including, without limitation,
license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable with respect
thereto and (vi) all other rights of any kind accruing thereunder or pertaining thereto throughout the world; and



    	Exhibit C-1



    	 



    




(b)            
any and all agreements, licenses and covenants providing for the granting of any right in or to any Trademark or otherwise
providing for a covenant not to sue for infringement, dilution or other violation of any Trademark or permitting co-existence
with respect to a Trademark (whether such Grantor is licensee or licensor thereunder) including, without limitation, each agreement
listed or required to be listed in Schedule A attached hereto under the heading “Trademark Licenses”.


SECTION
2.2Certain Limited Exclusions. Notwithstanding anything herein to the contrary, in no event shall the Trademark Collateral
include or the security interest granted under Section 2.1 hereof attach to:


(a)            
any agreement, license or covenant to which any Grantor is a party, and any of its rights or interest thereunder, if and to
the extent that a security interest is prohibited by or in violation of (i) any law, rule or regulation applicable to such Grantor,
or (ii) a term, provision or condition of any such agreement, license or covenant (unless such law, rule, regulation, term, provision
or condition would be rendered ineffective with respect to the creation of the security interest hereunder pursuant to Sections
9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable
law (including the Bankruptcy Code) or principles of equity); provided, however, that the Trademark Collateral shall
include (and such security interest shall attach) immediately at such time as the contractual or legal prohibition shall no longer
be applicable and to the extent severable, shall attach immediately to any portion of such agreement, license or covenant not
subject to the prohibitions specified in (i) or (ii) above; provided further that the exclusions referred to in
this clause (a) shall not include any Proceeds of any such agreement, license or covenant; or


(b)            
 any “intent-to-use” application for registration of a Trademark filed pursuant to Section 1(b) of the Lanham
Act, 15 U.S.C. § 1051, prior to the filing of a “Statement of Use” pursuant to Section 1(d) of the Lanham Act
or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, solely to the extent,
if any, that, and solely during the period, if any, in which, the grant of a security interest therein would impair the validity
or enforceability of any registration that issues from such intent-to-use application under applicable federal law.


SECTION 3.         Pledge and
Security Agreement


The
security interest granted pursuant to this Agreement is granted in conjunction with the security interest granted to the Collateral
Trustee for the Secured Parties pursuant to the Pledge and Security Agreement, and the Grantors hereby acknowledge and affirm
that the rights and remedies and other protections and indemnities of the Collateral Trustee with respect to the security interest
in the Trademark Collateral made and granted hereby are more fully set forth in the Pledge and Security Agreement, the terms and
provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this
Agreement is deemed to conflict with the Pledge and Security Agreement, the provisions of the Pledge and Security Agreement shall
control. Notwithstanding anything herein to the contrary, the liens and security interests granted to the Collateral Trustee pursuant
to this Agreement and the exercise of any right or remedy by the Collateral Trustee hereunder are subject to the provisions of
the Junior Priority Intercreditor Agreement. In the event of any conflict or inconsistency between the provisions of this Agreement
and any Intercreditor Agreement (including the Junior Priority Intercreditor Agreement), the provisions of such Intercreditor
Agreement shall control; provided that nothing in the Intercreditor Agreement shall limit the rights, protections, immunities
or indemnities of the Collateral Trustee under the Indenture Documents.



    	Exhibit C-2



    	 



    




SECTION 4.         Governing
Law


THIS
AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND ALL CLAIMS AND CONTROVERSIES ARISING OUT OF THE SUBJECT
MATTER HEREOF WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PROVISIONS THAT WOULD RESULT IN THE
APPLICATION OF ANY OTHER LAW (OTHER THAN ANY MANDATORY PROVISIONS OF LAW RELATING TO THE LAW GOVERNING PERFECTION AND THE EFFECT
OF PERFECTION OF THE SECURITY INTEREST).


SECTION 5.         Counterparts


This
Agreement may be executed in one or more counterparts and by different parties hereto in separate counterparts, each of which
when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the
same instrument.


[Remainder of
page intentionally left blank]




    	Exhibit C-3



    	 



    

IN
WITNESS WHEREOF, each Grantor has caused this Agreement to be executed and delivered by its duly authorized officer as of
the date first set forth above.


 


	 	[NAME OF GRANTOR]
	 	 
	 	By: 	           
	 	Name:
 Title:






    	Exhibit C-4



    	 



    

[ADD SIGNATURE
BLOCKS FOR ANY OTHER GRANTORS]




    	Exhibit C-5



    	 



    

Accepted and Agreed:


WILMINGTON
TRUST, NATIONAL ASSOCIATION,

as Collateral Trustee





	By: 	           
	 	Name:
 Title:






    	Exhibit C-6



    	 



    

SCHEDULE
A



to TRADEMARK SECURITY AGREEMENT


TRADEMARKS


	Grantor	Jurisdiction	Trademark	Registration
    Number/(Serial Number)	Registration
    Date/(Filing Date)
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 


 


TRADEMARK
APPLICATIONS


	Grantor	Jurisdiction	Trademark	Application
    Number/(Serial Number)	Application
    Date/(Filing Date)
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 


 


TRADEMARK
LICENSES


	Grantor	Description
    of Trademark License	Registration
    Number (if any) of underlying Trademark	Name
    of Licensor
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 


 




    	Exhibit C-7



    	 



    


 



EXHIBIT D


TO SECOND
LIEN NOTES PLEDGE AND SECURITY AGREEMENT


FORM
OF SECOND LIEN COPYRIGHT SECURITY AGREEMENT


This
SECOND LIEN COPYRIGHT SECURITY AGREEMENT, dated as of [__________], 20[__] (as it may be amended, restated, supplemented
or otherwise modified from time to time, this “Agreement”), is made by the entities identified as grantors
on the signature pages hereto (collectively, the “Grantors”) in favor of Wilmington Trust, National Association,
as collateral trustee for the Secured Parties (in such capacity, together with its successors and permitted assigns, the “Collateral
Trustee”).


WHEREAS,
the Grantors are party to a Second Lien Notes Pledge and Security Agreement, dated as of December 5, 2016 (as it may be amended,
restated, supplemented or otherwise modified from time to time, the “Pledge and Security Agreement”) among
each of the Grantors and the other grantors party thereto and the Collateral Trustee pursuant to which the Grantors granted a
security interest to the Collateral Trustee in the Copyright Collateral (as defined below) and are required to execute and deliver
this Agreement.


NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Grantors hereby agree with the Collateral Trustee as follows:


SECTION 1.         Defined Terms


Unless
otherwise defined herein, terms defined in the Pledge and Security Agreement and used herein have the meanings given to them in
the Pledge and Security Agreement.


SECTION 2.         Grant of
Security Interest


SECTION
2.1Grant of Security. Each Grantor hereby grants to the Collateral Trustee, for the benefit of the Secured Parties, a
security interest in and continuing lien on all of such Grantor’s right, title and interest in, to and under the following,
in each case whether now owned or existing or hereafter acquired, developed, created or arising and wherever located (collectively,
the “Copyright Collateral”):


(a)
all United States, and foreign copyrights (whether or not the underlying works of authorship have been published), including
but not limited to copyrights in software and all rights in and to databases, all designs (including but not limited to industrial
designs, Protected Designs within the meaning of 17 U.S.C. 1301 et seq. and Community designs) and all Mask Works (as defined
under 17 U.S.C. 901 of the U.S. Copyright Act), whether registered or unregistered, as well as all moral rights, reversionary
interests, and termination rights, and, with respect to any and all of the foregoing: (i) all registrations and applications therefor
including, without limitation, the registrations and applications listed or required to be listed in Schedule A under the heading
“Copyrights”, (ii) all extensions and renewals thereof, (iii) the right to sue or otherwise recover for any past,
present and future infringement or other violation thereof, (iv) all Proceeds of the foregoing, including, without limitation,
license fees, royalties, income, payments, claims, damages and proceeds of suit now or hereafter due and/or payable with respect
thereto and (v) all other rights of any kind accruing thereunder or pertaining thereto throughout the world; and



    	Exhibit D-1



    	 



    




(b)
any and all agreements, licenses and covenants providing for the granting of any right in or any Copyright or otherwise providing
for a covenant not to sue for infringement or other violation of any Copyright including, without limitation, each agreement listed
or required to be listed in Schedule A attached hereto under the heading “Copyright Licenses”.


SECTION
2.2Certain Limited Exclusions. Notwithstanding anything herein to the contrary, in no event shall the Copyright Collateral
include or the security interest granted under Section 2.1 hereof attach to any agreement, license or covenant to which any Grantor
is a party, and any of its rights or interest thereunder, if and to the extent that a security interest is prohibited by or in
violation of (i) any law, rule or regulation applicable to such Grantor, or (ii) a term, provision or condition of any such agreement,
license or covenant (unless such law, rule, regulation, term, provision or condition would be rendered ineffective with respect
to the creation of the security interest hereunder pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor
provision or provisions) of any relevant jurisdiction or any other applicable law (including the Bankruptcy Code) or principles
of equity); provided, however, that the Copyright Collateral shall include (and such security interest shall attach)
immediately at such time as the contractual or legal prohibition shall no longer be applicable and to the extent severable, shall
attach immediately to any portion of such agreement, license or covenant not subject to the prohibitions specified in (i) or (ii)
above; provided further that the exclusions referred to in this Section 2.2 shall not include any Proceeds of any
such agreement, license or covenant.


SECTION 3.         Pledge and
Security Agreement


The
security interest granted pursuant to this Agreement is granted in conjunction with the security interest granted to the Collateral
Trustee for the Secured Parties pursuant to the Pledge and Security Agreement, and the Grantors hereby acknowledge and affirm
that the rights and remedies and other protections and indemnities of the Collateral Trustee with respect to the security interest
in the Copyright Collateral made and granted hereby are more fully set forth in the Pledge and Security Agreement, the terms and
provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this
Agreement is deemed to conflict with the Pledge and Security Agreement, the provisions of the Pledge and Security Agreement shall
control. Notwithstanding anything herein to the contrary, the liens and security interests granted to the Collateral Trustee pursuant
to this Agreement and the exercise of any right or remedy by the Collateral Trustee hereunder are subject to the provisions of
the Junior Priority Intercreditor Agreement. In the event of any conflict or inconsistency between the provisions of this Agreement
and any Intercreditor Agreement (including the Junior Priority Intercreditor Agreement), the provisions of such Intercreditor
Agreement shall control, provided that nothing in the Intercreditor Agreements shall limit the rights, protections, immunities
and indemnities of the Collateral Trustee under the Indenture.


SECTION 4.         Governing
Law


THIS
AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND ALL CLAIMS AND CONTROVERSIES ARISING OUT OF THE SUBJECT
MATTER HEREOF WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PROVISIONS THAT WOULD RESULT IN THE
APPLICATION OF ANY OTHER LAW (OTHER THAN ANY MANDATORY PROVISIONS OF LAW RELATING TO THE LAW GOVERNING PERFECTION AND THE EFFECT
OF PERFECTION OF THE SECURITY INTEREST).


SECTION 5.         Counterparts


This
Agreement may be executed in one or more counterparts and by different parties hereto in separate counterparts, each of which
when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the
same instrument.


 


[Remainder
of page intentionally left blank]




    	Exhibit D-2



    	 



    

IN
WITNESS WHEREOF, each Grantor has caused this Agreement to be executed and delivered by its duly authorized officer as of
the date first set forth above.


 


	 	[NAME OF GRANTOR]
	 	 
	 	By: 	           
	 	 	Name:
	 	 	Title:




    	Exhibit D-3



    	 



    

[ADD SIGNATURE
BLOCKS FOR ANY OTHER GRANTORS]




    	Exhibit D-4



    	 



    

Accepted and Agreed:


WILMINGTON
TRUST, NATIONAL ASSOCIATION,

as Collateral Trustee





	By: 	           
	 	Name:
 Title:







    	Exhibit D-5



    	 



    

SCHEDULE
A



to COPYRIGHT SECURITY AGREEMENT


COPYRIGHTS


	Grantor	Jurisdiction	Title
    of Work	Registration
    Number (if any)	Registration
    Date
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 


 


COPYRIGHT
LICENSES


	Grantor	Description
    of Copyright License	Registration
    Number (if any) of underlying Copyright	Name
    of Licensor
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 


 




    	Exhibit D-6



    	 



    


 



EXHIBIT E


TO SECOND
LIEN NOTES PLEDGE AND SECURITY AGREEMENT


FORM
OF SECOND LIEN PATENT SECURITY AGREEMENT


This
SECOND LIEN PATENT SECURITY AGREEMENT, dated as of [__________], 20[__] (as it may be amended, restated, supplemented or
otherwise modified from time to time, this “Agreement”), is made by the entities identified as grantors on
the signature pages hereto (collectively, the “Grantors”) in favor of Wilmington Trust, National Association,
as collateral trustee for the Secured Parties (in such capacity, together with its successors and permitted assigns, the “Collateral
Trustee”).


WHEREAS,
the Grantors are party to a Second Lien Notes Pledge and Security Agreement, dated as of [ ], 2-16 (as it may be amended, restated,
supplemented or otherwise modified from time to time, the “Pledge and Security Agreement”) among each of the
Grantors and the other grantors party thereto and the Collateral Trustee pursuant to which the Grantors granted a security interest
to the Collateral Trustee in the Patent Collateral (as defined below) and are required to execute and deliver this Agreement.


NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Grantors hereby agree with the Collateral Trustee as follows:


SECTION. 1.         Defined Terms


Unless
otherwise defined herein, terms defined in the Pledge and Security Agreement and used herein have the meanings given to them in
the Pledge and Security Agreement.


SECTION 2.         Grant of Security
Interest


SECTION
2.1Grant of Security. Each Grantor hereby grants to the Collateral Trustee, for the benefit of the Secured Parties, a
security interest in and continuing lien on all of such Grantor’s right, title and interest in, to and under the following,
in each case whether now owned or existing or hereafter acquired, developed, created or arising and wherever located (collectively,
the “Patent Collateral”):


(a)
all United States and foreign patents and certificates of invention, or similar industrial property rights, and applications
for any of the foregoing, including, without limitation: (i) each patent and patent application listed or required to be listed
in Schedule A attached hereto under the heading “Patents”, (ii) all reissues, divisions, continuations, continuations-in-part,
extensions, renewals, and reexaminations thereof, (iii) all patentable inventions and improvements thereto, (iv) the right
to sue or otherwise recover for any past, present and future infringement or other violation thereof, (v) all Proceeds of the
foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages, and proceeds of suit now
or hereafter due and/or payable with respect thereto and (vi) all other rights of any kind accruing thereunder or pertaining thereto
throughout the world; and



    	Exhibit E-1



    	 



    




(b)
all agreements, licenses and covenants providing for the granting of any right in or to any Patent or otherwise providing
for a covenant not to sue for infringement or other violation of any Patent (whether such Grantor is licensee or licensor thereunder)
including, without limitation, each agreement listed or required to be listed in Schedule A attached hereto under the heading
“Patent Licenses”.


SECTION
2.2Certain Limited Exclusions. Notwithstanding anything herein to the contrary, in no event shall the Patent Collateral
include or the security interest granted under Section 2.1 hereof attach to any agreement, license or covenant to which any Grantor
is a party, and any of its rights or interest thereunder, if and to the extent that a security interest is prohibited by or in
violation of (i) any law, rule or regulation applicable to such Grantor, or (ii) a term, provision or condition of any such agreement,
license or covenant (unless such law, rule, regulation, term, provision or condition would be rendered ineffective with respect
to the creation of the security interest hereunder pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor
provision or provisions) of any relevant jurisdiction or any other applicable law (including the Bankruptcy Code) or principles
of equity); provided, however, that the Patent Collateral shall include (and such security interest shall attach)
immediately at such time as the contractual or legal prohibition shall no longer be applicable and to the extent severable, shall
attach immediately to any portion of such agreement, license or covenant not subject to the prohibitions specified in (i) or (ii)
above; provided further that the exclusions referred to in this Section 2.2 shall not include any Proceeds of any
such agreement, license or covenant.


SECTION 3.         Pledge and
Security Agreement


The
security interest granted pursuant to this Agreement is granted in conjunction with the security interest granted to the Collateral
Trustee for the Secured Parties pursuant to the Pledge and Security Agreement, and the Grantors hereby acknowledge and affirm
that the rights and remedies and other protections and indemnities of the Collateral Trustee with respect to the security interest
in the Patent Collateral made and granted hereby are more fully set forth in the Pledge and Security Agreement, the terms and
provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this
Agreement is deemed to conflict with the Pledge and Security Agreement, the provisions of the Pledge and Security Agreement shall
control. Notwithstanding anything herein to the contrary, the liens and security interests granted to the Collateral Trustee pursuant
to this Agreement and the exercise of any right or remedy by the Collateral Trustee hereunder are subject to the provisions of
the Junior Priority Intercreditor Agreement. In the event of any conflict or inconsistency between the provisions of this Agreement
and any Intercreditor Agreement (including the Junior Priority Intercreditor Agreement), the provisions of such Intercreditor
Agreement shall control, provided that nothing in the Intercreditor Agreements shall limit the rights, protections, immunities
and indemnities of the Collateral Trustee under the Indenture.


SECTION 4.         Governing
Law


THIS
AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND ALL CLAIMS AND CONTROVERSIES ARISING OUT OF THE SUBJECT
MATTER HEREOF WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PROVISIONS THAT WOULD RESULT IN THE
APPLICATION OF ANY OTHER LAW (OTHER THAN ANY MANDATORY PROVISIONS OF LAW RELATING TO THE LAW GOVERNING PERFECTION AND THE EFFECT
OF PERFECTION OF THE SECURITY INTEREST).



    	Exhibit E-2



    	 



    




SECTION 5.         Counterparts


This
Agreement may be executed in one or more counterparts and by different parties hereto in separate counterparts, each of which
when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the
same instrument.


[Remainder of
page intentionally left blank]




    	Exhibit E-3



    	 



    

IN
WITNESS WHEREOF, each Grantor has caused this Agreement to be executed and delivered by its duly authorized officer as of
the date first set forth above.


	 	[NAME OF GRANTOR]
	 	 
	 	By:	 
	 		Name:
 Title:




    	Exhibit E-4



    	 



    

[ADD SIGNATURE
BLOCKS FOR ANY OTHER GRANTORS]




    	Exhibit E-5



    	 



    

Accepted and Agreed:


WILMINGTON
TRUST, NATIONAL ASSOCIATION,

as Collateral Trustee


 


	By: 	           
	 	Name:
 Title:







    	Exhibit E-6



    	 



    

SCHEDULE
A



to PATENT SECURITY AGREEMENT


PATENTS


	Grantor	Jurisdiction	Title
    of Patent	Patent

    Number/(Application Number)	Issue
    Date/(Filing Date)
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 


 


PATENT
LICENSES


	Grantor	Description
    of Patent License	Patent
    Number of

    underlying Patent	Name
    of Licensor
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 




    	Exhibit E-7