Amended and Restated Revolving Credit Agreement


 Exhibit 4.5 

EXECUTION VERSION 
  

 
  

$175,000,000 

AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT 

among 

TPC GROUP LLC, 

and 

TEXAS BUTYLENE CHEMICAL CORPORATION 

and 
 THE
OTHER BORROWERS NAMED HEREIN, 
 as Borrowers, 

TPC GROUP LLC, 

as Funds Administrator, 

VARIOUS LENDING INSTITUTIONS, 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Administrative Agent, 

and 

DEUTSCHE BANK TRUST COMPANY AMERICAS 

and 

WELLS FARGO CAPITAL FINANCE, LLC, 

as Co-Collateral Agents, 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Collateral Agent 
  

 
 with 

 WELLS FARGO CAPITAL FINANCE, LLC, 

as Syndication Agent, 

JPMORGAN CHASE BANK, N.A., 

as Documentation Agent, 

DEUTSCHE BANK SECURITIES INC., WELLS FARGO CAPITAL FINANCE, LLC 

and 

JPMORGAN CHASE BANK, N.A., 

as Joint Lead Arrangers and Book Running Managers, 

and 

CAPITAL ONE LEVERAGE FINANCE CORP, 

and 

ALLIED IRISH BANKS, P.L.C 

as Co-Senior Managing Agents 

Dated as of April 29, 2010 






 Table of Contents 

 

					
	 	  	 	  	Page
	
	  
	  
 ARTICLE
I

	DEFINITIONS AND ACCOUNTING TERMS	  	1
	     1.1
	  	Definitions	  	1
	     1.2
	  	Accounting Terms; Pro Forma Calculations; Financial Statements	  	51
	ARTICLE II	  	
	LOANS	  	52
	     2.1
	  	Commitments; Delivery of Notes	  	52
	     2.2
	  	Borrowing Mechanics; Interim Advances	  	52
	     2.3
	  	Settlements Among the Administrative Agent and the Lenders	  	55
	     2.4
	  	Mandatory Payment; Reduction of Commitments	  	56
	     2.5
	  	Payments and Computations; Cash Dominion; Application of Funds	  	58
	     2.6
	  	Maintenance of Account	  	60
	     2.7
	  	Statement of Account	  	60
	     2.8
	  	Net Payments	  	60
	     2.9
	  	Sharing of Payments	  	62
	     2.10
	  	Increase in Commitments	  	63
	ARTICLE III	  	
	LETTERS OF CREDIT	  	65
	     3.1
	  	Issuance of Letters of Credit	  	65
	     3.2
	  	Procedure for Issuance	  	66
	     3.3
	  	Terms of Letters of Credit	  	66
	     3.4
	  	Lenders’ Participation	  	67
	     3.5
	  	Maturity of Drawings; Interest Thereon	  	67
	     3.6
	  	Payment of Amounts Drawn Under Letters of Credit; Funding of L/C Participations	  	68
	     3.7
	  	Nature of Issuing Bank’s Duties	  	69
	     3.8
	  	Obligations Absolute	  	70
	ARTICLE IV	  	
	INTEREST, FEES AND EXPENSES	  	71
	     4.1
	  	Interest on Eurodollar Loans	  	71
	     4.2
	  	Interest on Base Rate Loans	  	71
	     4.3
	  	Notice of Continuation and Notice of Conversion	  	71
	     4.4
	  	Computation of Interest and Fees	  	73
	     4.5
	  	Interest Periods	  	73
	     4.6
	  	Interest After Event of Default	  	74
	     4.7
	  	Unused Line Fees	  	74
	     4.8
	  	Letter of Credit Fees	  	75
	     4.9
	  	No Fees to Defaulting Lender	  	75
	     4.10
	  	Authorization to Charge Borrowers’ Accounts	  	75
	     4.11
	  	Compensation for Funding Losses	  	76
	     4.12
	  	Increased Costs, Illegality, Etc.	  	77
	     4.13
	  	Mitigation Obligations; Replacement of Affected Lenders	  	78
	ARTICLE V	  	
	CONDITIONS OF CREDIT	  	79

  

 ii 







 Table of Contents 

 

					
	 	  	 	  	Page
			
	     5.1
	  	Conditions Precedent to Effectiveness	  	79
	     5.2
	  	Conditions to Each Credit Event	  	86
	ARTICLE VI	  	
	REPRESENTATIONS AND WARRANTIES	  	86
	     6.1
	  	Corporate Status	  	86
	     6.2
	  	Corporate Power and Authority	  	87
	     6.3
	  	No Violation	  	87
	     6.4
	  	Governmental Approvals	  	87
	     6.5
	  	Financial Statements; Financial Condition; Undisclosed Liabilities Projections; etc.	  	87
	     6.6
	  	Litigation and Judgments	  	88
	     6.7
	  	True and Complete Disclosure	  	89
	     6.8
	  	Use of Proceeds; Margin Regulations	  	89
	     6.9
	  	Taxes	  	89
	     6.10
	  	Compliance With ERISA; Foreign Pension Plans	  	90
	     6.11
	  	Security Documents	  	91
	     6.12
	  	Intentionally Omitted	  	92
	     6.13
	  	Ownership of Property	  	92
	     6.14
	  	Capitalization of Company	  	93
	     6.15
	  	Subsidiaries	  	93
	     6.16
	  	Compliance With Law, Etc.	  	94
	     6.17
	  	Investment Company Act	  	94
	     6.18
	  	Certain Fees	  	94
	     6.19
	  	Environmental Matters	  	94
	     6.20
	  	Labor Relations	  	95
	     6.21
	  	Intellectual Property, Licenses, Franchises and Formulas	  	95
	     6.22
	  	Anti-Terrorism Laws	  	95
	     6.23
	  	Locations of Offices, Records and Inventory	  	96
	     6.24
	  	Deposit Accounts and Investment Accounts	  	97
	     6.25
	  	Accounts	  	97
	     6.26
	  	Inventory	  	97
	     6.27
	  	Borrowing Base Calculation	  	97
	ARTICLE VII	  	
	AFFIRMATIVE COVENANTS	  	98
	     7.1
	  	Financial Statements	  	98
	     7.2
	  	Certificates; Other Information	  	99
	     7.3
	  	Notices	  	101
	     7.4
	  	Conduct of Business and Maintenance of Existence; Compliance with Laws	  	103
	     7.5
	  	Payment of Obligations	  	103
	     7.6
	  	Inspection of Property, Books and Records; Field Exams and Appraisals	  	103
	     7.7
	  	ERISA; Foreign Pension Plan	  	105
	     7.8
	  	Maintenance of Property, Insurance	  	107
	     7.9
	  	Environmental Laws	  	107
	     7.10
	  	Use of Proceeds	  	108
	     7.11
	  	Additional Security; Further Assurances	  	108

  

 iii 







 Table of Contents 

 

					
	 	  	 	  	Page
			
	     7.12
	  	Annual Meetings with Lenders	  	110
	     7.13
	  	Cash Management	  	110
	ARTICLE VIII	  	
	NEGATIVE COVENANTS	  	111
	     8.1
	  	Liens	  	111
	     8.2
	  	Indebtedness and Disqualified Stock	  	112
	     8.3
	  	Fundamental Changes	  	114
	     8.4
	  	Asset Sales	  	115
	     8.5
	  	Restricted Payments	  	115
	     8.6
	  	Issuance of Subsidiary Stock	  	116
	     8.7
	  	Loans, Investments and Acquisitions	  	117
	     8.8
	  	Transactions with Affiliates	  	118
	     8.9
	  	Intentionally Omitted	  	119
	     8.10
	  	Lines of Business	  	119
	     8.11
	  	Fiscal Year	  	119
	     8.12
	  	Limitation on Voluntary Payments and Modifications of Indebtedness; Modifications of Certificate of Incorporation, By-Laws and Certain Other Agreements; Certain Derivative
Transactions; etc.	  	119
	     8.13
	  	Limitation on Certain Restrictions	  	120
	     8.14
	  	Control Agreements	  	121
	     8.15
	  	No Excess Cash	  	121
	     8.16
	  	New Collateral Locations	  	121
	     8.17
	  	Receivables Financing Programs	  	122
	ARTICLE IX	  	
	FINANCIAL COVENANTS	  	122
	     9.1
	  	Minimum Consolidated Fixed Charge Coverage Ratio	  	122
	ARTICLE X	  	
	EVENTS OF DEFAULT	  	122
	     10.1
	  	Events of Default	  	122
	     10.2
	  	Rights Not Exclusive	  	126
	ARTICLE XI	  	
	THE AGENTS	  	126
	     11.1
	  	Appointment of Administrative Agent	  	126
	     11.2
	  	Nature of Duties	  	127
	     11.3
	  	Exculpation, Rights, Etc.	  	127
	     11.4
	  	Reliance	  	128
	     11.5
	  	Indemnification	  	128
	     11.6
	  	Agents In Their Individual Capacity	  	128
	     11.7
	  	Notice of Default	  	128
	     11.8
	  	Holders of Obligations	  	129
	     11.9
	  	Appointment of Collateral Agent and Co-Collateral Agents	  	129
	     11.10
	  	Resignation by an Agent	  	129
	     11.11
	  	The Joint Lead Arrangers, Joint Book Runners, Syndication Agent, Documentation Agent, Senior Managing Agent	  	130

  

 iv 







 Table of Contents 

 

					
	 	  	 	  	Page
			
	     11.12
	  	Co-Collateral Agents	  	130
	ARTICLE XII	  	
	MISCELLANEOUS	  	131
	     12.1
	  	No Waiver; Modifications in Writing	  	131
	     12.2
	  	Further Assurances	  	132
	     12.3
	  	Notices, Etc.	  	132
	     12.4
	  	Costs and Expenses; Indemnification.	  	133
	     12.5
	  	Confirmations	  	136
	     12.6
	  	Adjustment; Setoff	  	136
	     12.7
	  	Execution in Counterparts; Electronic Execution; Effectiveness	  	137
	     12.8
	  	Binding Effect; Assignment; Addition and Substitution of Lenders	  	137
	     12.9
	  	Defaulting Lender	  	140
	     12.10
	  	CONSENT TO JURISDICTION; MUTUAL WAIVER OF JURY TRIAL	  	142
	     12.11
	  	Severability of Provisions	  	143
	     12.12
	  	Transfers of Notes	  	143
	     12.13
	  	Registry	  	143
	     12.14
	  	Headings	  	144
	     12.15
	  	Termination of Agreement	  	144
	     12.16
	  	Treatment of Certain Information; Confidentiality	  	144
	     12.17
	  	Concerning the Collateral and the Loan Documents	  	145
	     12.18
	  	Joint and Several Liability of Borrowers	  	147
	     12.19
	  	USA Patriot Act	  	148
	     12.20
	  	Amendment and Restatement	  	148

  

 v 







 INDEX OF SCHEDULES AND EXHIBITS 

Annexes 
  

			
	 Annex I
	  	Lenders; Commitments; Lending Offices
	
	Exhibits
	 Exhibit 2.1(b)
	  	Form of Amended and Restated Note
	 Exhibit 2.2(a)(i)
	  	Form of Notice of Borrowing
	 Exhibit 2.8(d)(i)
	  	Form of Section 2.8(d)(i) Certificate
	 Exhibit 3.2(a)
	  	Form of Letter of Credit Request
	 Exhibit 4.3(a)
	  	Form of Notice of Continuation
	 Exhibit 4.3(b)
	  	Form of Notice of Conversion
	 Exhibit 5.1(b)(i)
	  	Form of Perfection Certificate
	 Exhibit 7.2(a)
	  	Form of Compliance Certificate
	 Exhibit 7.2(g)
	  	Form of Borrowing Base Certificate
	 Exhibit 12.8(c)
	  	Form of Assignment and Assumption Agreement


Schedules 
  

			
	 Schedule 1.1(c)
	  	Permitted Subordinated Debt Provisions
	 Schedule 6.10
	  	ERISA; Foreign Pension Plans
	 Schedule 6.11(c)
	  	Owned and Leased Real Property
	 Schedule 6.14
	  	Capitalization of Company
	 Schedule 6.15
	  	Subsidiaries
	 Schedule 6.19
	  	Environmental Matters
	 Schedule 6.23
	  	Business and Collateral Locations
	 Schedule 6.24
	  	Accounts
	 Schedule 7.8
	  	Insurance
	 Schedule 8.1(c)
	  	Existing Liens
	 Schedule 8.2(i)
	  	Indebtedness to Remain Outstanding
	 Schedule 8.7
	  	Existing Investments and Acquisitions
	 Schedule 12.3(a)
	  	Notice Addresses







 AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT 

THIS AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT is dated as of April 29, 2010 and is made by and among TPC Group LLC, a Texas
limited liability company (“Company”), Texas Butylene Chemical Corporation, a Texas corporation (“Texas Butylene” and together with Company, the “Borrowers” with Company acting in its capacity as
Funds Administrator for the Borrowers), the undersigned financial institutions, including Deutsche Bank Trust Company Americas, in their capacities as lenders hereunder (collectively, the “Lenders,” and each individually, a
“Lender”), Deutsche Bank Trust Company Americas, as administrative agent (“Administrative Agent”) and collateral agent (“Collateral Agent”) for the Lenders, and Deutsche Bank Trust Company Americas
and Wells Fargo Capital Finance, LLC, each a Co-Collateral Agent (as defined herein). 
 W I T N
E S S E T H: 
 WHEREAS, the Borrowers have requested that the Lenders make revolving
loans to and issue letters of credit for the account of the Borrowers in the aggregate initial principal amount of up to $175,000,000 maturing on April 29, 2014; 

WHEREAS, the Lenders are willing to extend commitments to make the revolving credit loans to and issue letters of credit for the account
of the Borrowers for the purposes specified below and only on the terms and subject to the conditions set forth herein; 

WHEREAS, the Lenders propose to acquire all rights and obligations of the lenders under the Existing Credit Agreement and concurrently
with such acquisition, Borrowers and the Lenders and Agents desire, subject to the terms and conditions set forth herein, to amend and restate the Existing Credit Agreement in its entirety as set forth herein in order to (a) make Loans
available to provide funds for the respective working capital needs and other general corporate purposes of the Borrowers and (b) provide for certain other amendments set forth herein; 

NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained and, among other things, (i) the
assignment of and the grant of a security interest in the Collateral by the Borrowers and their Material Domestic Subsidiaries in favor of Collateral Agent for the benefit of the Lenders pursuant to the Security Agreement and (ii) the granting
of mortgages by the Borrowers and their Material Domestic Subsidiaries in the Mortgaged Property pursuant to the Mortgages, the parties hereto agree as follows: 

ARTICLE I 

DEFINITIONS AND ACCOUNTING TERMS 

1.1    Definitions.  As used herein, and unless the context requires a different
meaning, the following terms have the meanings indicated: 
 “Accounts” shall mean, with respect to any
Person, all of such Person’s accounts, whether existing now or in the future, including, without limitation, (a) all accounts receivable, 






 
(b) all unpaid seller’s rights of such Person (including rescission, replevin, reclamation and stoppage in transit) relating to the foregoing or arising therefrom, (c) all rights
of such Person to any goods represented by any of the foregoing, including returned or repossessed goods, (d) all reserves and credit balances held by such Person with respect to any such accounts receivable or account debtors and (e) all
Guarantees or collateral for any of the foregoing. 
 “Acquisition” means any transaction or series of
transactions by which a Person acquires (a) all or substantially all of a business or business unit conducted by another Person whether through purchase of assets, merger, consolidation or otherwise, or (b) greater than 50% of the Voting
Stock of another Person. 
 “Additional Collateral” shall have the meaning ascribed to that term in
Section 7.11(c). 
 “Additional Commitment Lender” shall have the meaning ascribed to that term in
Section 2.10(a). 
 “Additional Security Documents” means all mortgages, pledge agreements,
security agreements and other security documents entered into pursuant to Section 7.11 with respect to Additional Collateral, in each case, as amended, supplemented or otherwise modified from time to time. 

“Adjustable Applicable Margins” has the meaning assigned to that term in the definition of “Applicable
Margin”. 
 “Administrative Agent” has the meaning assigned to that term in the introduction to this
Agreement and any successor Administrative Agent in such capacity. 
 “Affiliate” means, with respect to any
Person, any Person or group acting in concert in respect of the Person in question that, directly or indirectly, controls (including but not limited to all directors, officers and partners of such Person) or is controlled by or is under common
control with such Person provided that neither DB nor any Affiliate of DB shall be deemed to be an Affiliate of any Credit Party. For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”), as used with respect to any Person or group of Persons, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of management and policies
of such Person, whether through the ownership of Voting Stock or by contract or otherwise. A Person shall be deemed to control another Person if such first Person has knowledge that it possesses, directly or indirectly, the power to vote 10% or more
of the Voting Stock of such other Person. 
 “Agent” means the Administrative Agent, the Collateral Agent and
each Co-Collateral Agent (and, collectively, the Administrative Agent, the Collateral Agent and the Co-Collateral Agents shall constitute the “Agents”). 
  


 - 2 - 







 “Agreement” means this Amended and Restated Revolving Credit Agreement, as
the same may at any time be amended, supplemented or otherwise modified in accordance with the terms hereof and in effect. 

“Applicable Lending Office” shall mean, with respect to each Lender, such Lender’s Eurodollar Lending Office in
the case of a Eurodollar Loan, and such Lender’s Domestic Lending Office in the case of a Base Rate Loan. 

“Applicable Margin” shall mean (a) for any date from the Restatement Date until the delivery of a Compliance
Certificate for the Fiscal Quarter ending September 30, 2010, a percentage per annum equal to in the case of Loans maintained as (i) Base Rate Loans, 2.50% and (ii) Eurodollar Loans, 3.50%; and (b) thereafter, from and after each
day of delivery of any Compliance Certificate for the Fiscal Quarter ending September 30, 2010 and any Fiscal Quarter thereafter (each, a “Start Date”) to and including the applicable End Date described below, the percentages
per annum for such Loans (hereinafter, the “Adjustable Applicable Margins”) set forth below opposite the Total Leverage Ratio indicated in such Compliance Certificate: 

 

							
	Tier	  	Total Leverage Ratio	  	 Eurodollar Loan

Applicable Margin
	  	
Base Rate Loan

Applicable Margin

	
1  
	  	> 3.00	  	3.75%	  	2.75%
	
2  
	  	< 3.00, but > 2.50	  	3.50%	  	2.50%
	
3  
	  	< 2.50, but > 2.00	  	3.25%	  	2.25%
	
4  
	  	< 2.00	  	3.00%	  	2.00%


The Adjustable Applicable Margins so determined shall apply from the relevant Start Date to the earlier of (x) the date on which
the next Compliance Certificate is delivered to the Administrative Agent and (y) the date which is 45 days (or 90 days in the case of the Test Period ending on the last day of a Fiscal Year) following the last day of the Test Period in which
the previous Start Date occurred (such earliest date, the “End Date”), at which time, if no Compliance Certificate has been delivered to the Administrative Agent, the Adjustable Applicable Margins shall be those set forth in Tier 1
of the above grid. Notwithstanding anything to the contrary contained in this definition, the Applicable Margin shall be not be adjusted to a lower percentage pursuant to the above grid during any time that an Unmatured Event of
Default or Event of Default shall exist. 
 Notwithstanding anything to the contrary contained above in this definition or
elsewhere in this Agreement, if it is subsequently determined that the Total Leverage Ratio set forth in any Compliance Certificate delivered for any period is inaccurate for any reason and the result thereof is that the Lenders received interest or
fees for any period based on an Applicable Margin that was different from that which would have been applicable had the Total Leverage Ratio been accurately determined, then, for all purposes of this Agreement, the “Applicable Margin” for
any day occurring within the period covered by such Compliance Certificate shall retroactively be deemed to be the correct percentage as based upon the accurately determined Total Leverage Ratio for such period, and any shortfall in the interest or
fees theretofore paid by the Borrower for the relevant period pursuant to Sections 4.1, Section 4.2 or Section 4.8(a) as a result of the miscalculation of the Total Leverage Ratio shall be deemed to be (and shall be)
due and payable under the relevant provisions of Section 4.1, Section 4.2 or Section 4.8(a), as 

 

 - 3 - 







 
applicable, at the time of such subsequent determination, and in the case of any excess (other than as a result of restated financial statements or any excess identified more than one Fiscal
Quarter after the delivery of such incorrect Compliance Certificate) under such provisions, deemed to be a repayment of the Obligations at the time such excess interest or fees for such period were paid, in each case on the same basis as if the
Total Leverage Ratio had been accurately set forth in such Compliance Certificate (and, in the case of a shortfall, shall remain due and payable until paid in full in accordance with the terms of this Agreement). 

“Approved Secured Derivative Transaction Liabilities” shall mean the liabilities of the Borrowers to any Lender or any
Affiliate of a Lender (i) in respect of the Existing Hedge Agreements, and (ii) in respect of one or more Derivative Transactions permitted by this Agreement, in each case, secured by the Collateral; provided that with respect to
liabilities under clause (ii), such Approved Secured Derivative Transaction Liabilities are established as such in accordance with Section 12.21 hereof. 

“Asset Disposition” means (a) the sale, lease, sublease, conveyance or other disposition of any assets of any
Borrower or any of its Subsidiaries; and (b) the issuance of Capital Stock by any of the Borrowers’ Subsidiaries. Notwithstanding the preceding, none of the following items will be deemed to be an Asset Disposition: 

(1)        any single transaction or series of related transactions that involves
assets with a Fair Market Value equal to or less than $5,000,000; 

(2)        a transfer of assets between or among the Borrowers and their
Subsidiaries; 
 (3)        an issuance of Capital Stock by a Subsidiary
to a Borrower or to a Subsidiary of any Borrower; 
 (4)        in the
ordinary course of business the sale, lease or other disposition of products, services, Inventory or Accounts Receivable other than pursuant to a securitization or financing program; 

(5)        sale, lease or other disposition of any assets which, in the
reasonable judgment of such Person, are obsolete, worn out or otherwise no longer useful in the conduct of such Person’s business; 

(6)        the sale or other disposition of cash or Cash Equivalents; 

(7)        a Restricted Payment that is permitted by the provisions of
Section 8.5 or an Investment that is permitted by the provisions of Section 8.7; 

(8)        a disposition resulting from any condemnation or other taking, or
temporary or permanent requisition of, any property, any interest therein or right appurtenant thereto, or any change of grade affecting any property, in each case, as the result of the exercise of any right of condemnation or eminent domain,
including any sale or other transfer to a Governmental Authority in lieu of, or in anticipation of, any of the 
  

 - 4 - 







 
foregoing events; provided that, if such disposition involves assets with Fair Market Value in excess of $5,000,000, any Net Sale Proceeds received in connection therewith shall be treated as Net
Sale Proceeds of an Asset Disposition for purposes of Section 2.4; 

(9)        disposition of assets in connection with a foreclosure, transfer or
deed in lieu of foreclosure or other exercise of remedial action by the Borrowers or their Subsidiaries; and 

(10)        Sale and Leaseback Transactions resulting in Attributable Debt
permitted pursuant to Section 8.2. 
 “Assignee” has the meaning assigned to that term in
Section 12.8(c). 
 “Assignment and Assumption Agreement” means an Assignment and Assumption
Agreement substantially in the form of Exhibit 12.8(c) annexed hereto and made a part hereof made by any applicable Lender, as assignor, and such Lender’s assignee in accordance with Section 12.8. 

“Attorney Costs” means all reasonable fees and disbursements of any law firm or other external counsel and the
reasonable allocated cost of internal legal services, including all reasonable disbursements of internal counsel. 

“Attributable Debt” means as of the date of determination thereof, without duplication, (i) the net present value
(discounted in accordance with GAAP at the cost of debt implied in the lease) of the obligations of the lessee for net rental payments during the then remaining term of any lease related to a Sale and Leaseback Transaction that does not result in a
Capitalized Lease Obligation, and (ii) the principal balance outstanding under any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing product to which such Person is a party, where such
transaction is considered borrowed money indebtedness for tax purposes but is classified as an operating lease in accordance with GAAP. 

“Availability” means the result of (1) the lesser of (A) the Total Commitments and (B) the Borrowing
Base minus (2) Total Exposure. 
 “Bailee Letter” means a letter in favor of Collateral Agent for the
benefit of the Lenders which is executed by each bailee, warehouseman or consignee which may now or in the future hold any Collateral in its possession, in form and substance reasonably satisfactory to Collateral Agent. 

“Bankruptcy Code” means Title I of the Bankruptcy Reform Act of 1978, as amended, as set forth in Title 11 of the
United States Code, as hereafter amended. 
 “Bankruptcy Event” shall mean an Unmatured Event of Default or
Event of Default which is such by virtue of Section 10.1(f). 
 “Base Rate” shall mean, on any
day, the highest of (i) the Prime Lending Rate at such time, (ii) 1/2 of 1% in excess of the overnight Federal Funds Rate at such time and (iii) the 

 

 - 5 - 







 
sum of (x) the Eurodollar Rate for an Interest Period of one month determined on the second full Business Day prior to such day plus (y) the excess of the Applicable Margin for
Eurodollar Loans over the Applicable Margin for Base Rate Loans, in each instance, as of such day. 
 “Base Rate
Loan” means any Loan which bears interest at a rate determined with reference to the Base Rate. 
 “Benefited
Lender” has the meaning assigned to that term in Section 12.6(a). 
 “Board” means the
Board of Governors of the Federal Reserve System. 
 “Board of Directors” means: 

(1)        with respect to a corporation, the board of directors of the
corporation or any committee thereof duly authorized to act on behalf of such board; 

(2)        with respect to a partnership, the Board of Directors of the general
partner of the partnership; 
 (3)        with respect to a limited
liability company, the managing member or members or any controlling committee of managing members or board of directors thereof; and 

(4)        with respect to any other Person, the board or committee of such
Person serving a similar function. 
 “Borrower” and “Borrowers” shall have the meanings
ascribed to such terms in the preamble to this Agreement. 
 “Borrower’s Account” and
“Borrowers’ Accounts” shall have the meanings ascribed to such terms in Section 2.6. 

“Borrowing” means a group of Loans of a single Type made by the Lenders, as appropriate on a single date (or resulting
from a conversion on such date) and in the case of Eurodollar Loans, as to which a single Interest Period is in effect, provided that Base Rate Loans or Eurodollar Loans incurred pursuant to Section 4.12 shall be considered part
of any related Borrowing of Eurodollar Loans. 
 “Borrowing Base” shall mean: 

(a)        Subject to clause (b) below, at any time, the amount equal at such time to:

 (i) eighty-five percent (85%) of the Value of Eligible Accounts Receivable of each Borrower, plus 

 

 - 6 - 







 (ii) the lesser of sixty-five percent (65%) of the Value of Eligible Inventory of each
Borrower and eighty-five percent (85%) of the Net Orderly Liquidation Value of Eligible Inventory of each Borrower; minus 

(iii) the aggregate amount of all Pari Passu Secured Derivative Transaction Reserves; minus 

(iv) the amount of any reserves established by the Co-Collateral Agents pursuant to clause (b) below. 

(b)        The Co-Collateral Agents at any time in the exercise of their Permitted Discretion
shall be entitled to (i) establish and increase or decrease reserves against Eligible Accounts Receivable and Eligible Inventory, (ii) impose additional restrictions (or eliminate any such additional restrictions) to the standards of
eligibility set forth in the respective definitions of “Eligible Accounts Receivable” and “Eligible Inventory” and (iii) establish and increase or decrease a reserve in the amount of interest payable by the Borrowers
hereunder, including interest on Loans and drawings under Letters of Credit, provided, that such reserve shall not at any time exceed the aggregate of accrued but unpaid interest at such time. Promptly after determining that any action under this
clause (b) is necessary or desirable, the Co-Collateral Agents shall use their reasonable best efforts to consult with the Funds Administrator as to the need to take such action, it being understood that Co-Collateral Agents’ failure to
consult shall not in any way restrict the Co-Collateral Agents from taking such action or impose any liability on the Co-Collateral Agents as a consequence of such failure. 

(c)        For purposes of clause (a)(i) above, the Value of Eligible Accounts Receivable at any
time shall be determined by the Co-Collateral Agents based on the Borrowing Base Certificate most recently delivered pursuant to Section 7.2(g)(i); provided, that without limiting the generality of clause (b) above, the Co-Collateral
Agents shall be entitled to increase or decrease reserves against Eligible Accounts Receivable based on increases or decreases in Eligible Accounts Receivable disclosed in any Borrowing Base Certificate delivered pursuant to Section 7.2(g)(iii)
(it being understood that in no event shall the Value of Eligible Accounts Receivable as determined from a weekly Borrowing Base Certificate be more than as determined from the most recently delivered monthly Borrowing Base Certificate). 

“Borrowing Base Certificate” shall have the meaning ascribed to that term in Section 7.2(g). 

“Business Day” means as it relates to any payment, determination, funding or notice to be made or given to or from
Administrative Agent, a day other than a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to close; provided, however, that when used in connection with a Eurodollar Loan, the
term “Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market. 

“Capital Expenditures” means, without duplication, with respect to any Person, any amounts expended during or in
respect of a period for any purchase or other acquisition for 
  

 - 7 - 







 
value of any asset that should be classified on a consolidated balance sheet of such Person prepared in accordance with GAAP as a fixed or capital asset, including, without limitation, the direct
or indirect acquisition of such assets or improvements by way of increased product or service charges, offset items or otherwise, and shall include Capitalized Leases, but shall exclude any Capital Expenditures arising as part of a Permitted
Acquisition. For purposes of this definition, the purchase price of equipment that is purchased simultaneously with the trade-in of existing equipment or with insurance or proceeds of any condemnation shall be included in Capital Expenditures only
to the extent of the gross amount of such purchase price, less the credit granted by the seller of such equipment for the equipment being traded in at such time or the amount of such insurance or proceeds of any condemnation, as the case may be.

 “Capital Stock” means, with respect to any Person, any and all shares, interests, participations, rights in
or other equivalents (however designated) of such Person’s capital stock, partnership interests, membership interests or other equivalent interests and any rights (other than debt securities convertible into or exchangeable for capital stock),
warrants or options exchangeable for or convertible into such capital stock or other equity interests. 
 “Capitalized
Lease” means, at the time any determination thereof is to be made, any lease of property, real or personal, in respect of which the present value of the minimum rental commitment is capitalized on the balance sheet of the lessee in
accordance with GAAP. 
 “Capitalized Lease Obligation” means, at the time any determination thereof is to be
made, the amount of the liability in respect of a Capitalized Lease which would at such time be so required to be capitalized on the balance sheet of the lessee in accordance with GAAP, and the stated maturity thereof shall be the date of the last
payment of rent or any other amount due under such lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty. 

“Cash” means money, currency or the available credit balance in Dollars, Canadian Dollars, Euros or another currency
that is at such time freely transferable and freely convertible into Dollars. 
 “Cash Dominion Liquidity
Event” shall mean (i) the occurrence and continuation of an Event of Default, (ii) the determination by the Administrative Agent that for three consecutive Business Days, Availability is less than the greater of (a) 20% of
the Total Commitments and (b) $20,000,000 or (iii) the determination by Administrative Agent that at any time, Availability is less than the greater of (x) 15% of the Total Commitments and (y) $15,000,000. The occurrence of a
Cash Dominion Liquidity Event shall be deemed continuing unless and until Availability exceeds the greater of the amounts set forth in clause (ii) of the preceding sentence for thirty consecutive days and no Unmatured Event of Default or Event
of Default then exists, in which event a Cash Dominion Liquidity Event shall no longer be deemed to be continuing; provided that, a Cash Dominion Liquidity Event may not be cured as contemplated by this sentence more than two times in any
four Fiscal Quarter period. 
 “Cash Equivalents” means (i) any evidence of indebtedness, maturing not
more than one year after the date of issue, issued by the United States of America or any instrumentality or agency thereof, the principal, interest and premium, if any, of which is 

 

 - 8 - 







 
guaranteed fully by, or backed by the full faith and credit of, the United States of America, (ii) Dollar, Canadian Dollar or Euro denominated (or other foreign currency fully hedged) time
deposits, certificates of deposit and bankers acceptances maturing not more than one year after the date of purchase, issued by (x) any Lender or (y) a commercial banking institution having, or which is the principal banking subsidiary of
a bank holding company having, combined capital and surplus and undivided profits of not less than $200,000,000 and a commercial paper rating of “P-1” (or higher) according to Moody’s “A-1” (or higher) according to S&P
or the equivalent rating by any other nationally recognized rating agency in the United States (any such bank, an “Approved Bank”), or (z) a non-United States commercial banking institution which is either currently ranked
among the 100 largest banks in the world (by assets, according to the American Banker), has combined capital and surplus and undivided profits of not less than $500,000,000 or whose commercial paper (or the commercial paper of such
bank’s holding company) has a rating of “P-1” (or higher) according to Moody’s, “A-1” (or higher) according to S&P or the equivalent rating by any other nationally recognized rating agency, (iii) commercial
paper, maturing not more than one year after the date of purchase, issued or guaranteed by a corporation (other than Company or any Subsidiary of Company or any of their respective Affiliates) organized and existing under the laws of any state
within the United States of America with a rating, at the time as of which any determination thereof is to be made, of “P-1” (or higher) according to Moody’s, or “A-1” (or higher) according to S&P, (iv) demand
deposits with any bank or trust company maintained in the ordinary course of business, (v) repurchase or reverse repurchase agreements covering obligations of the type specified in clause (i) with a term of not more than seven days with
any Approved Bank and (vi) shares of any money market mutual fund rated at least AAA or the equivalent thereof by S&P or at least Aaa or the equivalent thereof by Moody’s, including, without limitation, any money market mutual fund
managed or advised by any Lender or Administrative Agent. 
 “Cash Management Services” shall mean
(i) cash management services, including treasury, depository, overdraft, electronic funds transfer and other cash management arrangements and (ii) commercial credit card and merchant card services. 

“Cash Management Services Obligations” shall mean and include, as to any Credit Party, any and all obligations of such
Credit Party to any Lender or an Affiliate of a Lender providing Cash Management Services, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications
thereof and substitutions therefor), arising in connection with any agreement to provide Cash Management Services, whether such agreement is now in existence or hereinafter arising. 

“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption
or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (c) the making or issuance of
any request, guideline or directive (whether or not having the force of law) by any Governmental Authority. 
 “Change
of Control” means (i) the sale, lease or transfer of all or substantially all of Company’s or Holdings’ assets to any Person or group (as such term is used in Section

 

 - 9 - 







 
13(d)(3) of the Exchange Act), (ii) the liquidation or dissolution of Holdings, (iii) any person or group of persons (within the meaning of the Exchange Act), shall have acquired
beneficial ownership (within the meaning of Rule 13d-3 promulgated by the SEC under the Exchange Act) of more than 50% of the issued and outstanding Voting Stock of Holdings, (iv) Company shall cease to be a Wholly-Owned Subsidiary of Holdings,
(v) during any period of twenty-four consecutive calendar months, individuals who at the beginning of such period constituted Holdings’ Board of Directors (together with any new directors whose election by Holdings’ Board of Directors
or whose nomination for election by Holdings’ stockholders was approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of such period or whose election or nomination for
election was previously so approved cease for any reason other than death or disability to constitute a majority of the directors then in office), (vi) any “Change of Control” (as such term is defined in the Term Loan Credit Facility
or any Permitted Refinancing thereof) or (vii) any “Change of Control” as defined in any Indebtedness incurred pursuant to Sections 8.2(k), (l) and (n), to the extent such event causes the holder to demand payment or
causes any Credit Party to be obligated to make any payment with respect thereto. For purposes of this definition, no combination of members of the Control Group shall be deemed a “group of persons” so long as no single member of such
Control Group has beneficial ownership, together with its Affiliates, of more than 50% of the issued and outstanding Voting Stock of Holdings. 

“Co-Collateral Agents” means DB and WFCF, in their capacity as co-collateral agents for the Secured Creditors pursuant
to this Agreement, and any successor agent in such capacity. 
 “Code” means the Internal Revenue Code of
1986, as from time to time amended, including the regulations proposed or promulgated thereunder, or any successor statute and the regulations proposed or promulgated thereunder. 

“Collateral” means all “Collateral” as defined in each of the Security Documents and all other assets of each
Credit Party pledged pursuant to any Security Document. 
 “Collateral Agent” has the meaning assigned to that
term in the introduction to this Agreement and any successor Collateral Agent in such capacity. 
 “Collection
Accounts” shall have the meaning ascribed to that term in Section 7.13. 
 “Commercial Letter of
Credit” means any letter of credit or similar instrument issued for the account of a Borrower pursuant to this Agreement for the purpose of supporting trade obligations of a Borrower or any of its Subsidiaries in the ordinary course of
business. 
 “Commitment” of any Lender shall mean the amount set forth opposite such Lender’s name on
Annex I, under the heading “Commitment,” as such amount may be reduced from time to time or terminated pursuant to the terms of this Agreement. 

“Commitment Increase” shall have the meaning ascribed to that term in Section 2.10(a). 

 

 - 10 - 







 “Commitment Increase Date” shall have the meaning ascribed to that term in
Section 2.10(c). 
 “Company” has the meaning assigned to that term in the introduction to this
Agreement. 
 “Compliance Certificate” has the meaning assigned to that term in Section 7.2(a).

 “Concentration Account” shall have the meaning ascribed to that term in Section 7.13.

 “Consolidated Assets” means, for any Person, the total assets of such Person and its Subsidiaries, as
determined from a consolidated balance sheet of such Person and its consolidated Subsidiaries prepared in accordance with GAAP. 

“Consolidated Capital Expenditures” means, for any Person, for any period, the aggregate of all Capital Expenditures by
such Person and its Subsidiaries determined on a consolidated basis in accordance with GAAP during that period. 

“Consolidated Cash Interest Expense” means, for any Person, for any period, Consolidated Interest Expense of such
Person and its Subsidiaries in accordance with GAAP, but excluding, however, interest expense not payable in cash, amortization of discount and deferred financing costs. 

“Consolidated Debt” means, for any Person, as at the time any determination thereof is to be made and without
duplication, (i) all Indebtedness of such Person and its Subsidiaries determined on a consolidated basis to the extent classified on a balance sheet of such Person and its Subsidiaries as liabilities in accordance with GAAP (and in any event,
but without duplication, including Disqualified Stock but excluding (a) Indebtedness related to Permitted Preferred Stock and Ordinary Equity Interests to the extent such amount is characterized as debt due to SFAS 150 and (b) the
mark-to-market exposure in respect of Interest Rate Agreements and Other Hedging Agreements) plus (ii) all Attributable Debt of such Person and its Subsidiaries determined on a consolidated basis. 

“Consolidated EBITDA” means, for any Person, for any period, the sum of the amounts for such period, without
duplication, of: 
  

	 	(i)	Consolidated Net Income, 

  

	 	plus  (ii)	to the extent deducted in computing Consolidated Net Income the sum of: 

  

	 	(a)	Consolidated Interest Expense, 

  

	 	plus     (b)	charges against income for foreign, federal, state and local taxes in each case based on income and for franchise taxes, 


 

	 	plus     (c)	depreciation expense, 

  

 - 11 - 








	 	plus     (d)	amortization expense, including, without limitation, amortization of good will and other intangible assets, fees, costs and expenses in connection with the execution,
delivery and performance of any of the Transaction Documents and the Loan Documents and other fees, costs and expenses in connection with Acquisitions, 

  

	 	plus     (e)	write-off of deferred financing costs originally incurred in connection with Indebtedness being repaid on the Restatement Date, 


 

	 	plus     (f)	non-cash charges resulting from any write-down of assets, 

  

	 	plus     (g)	non-cash, non-recurring charges, including non-cash impairment, abandonment and restructuring charges, 


 

	 	plus     (h)	non-cash expenses for Capital Stock-based compensation related to Capital Stock-based compensation plans that do not represent a cash item in any future period,


  

	 	minus  (iii)	to the extent added in computing Consolidated Net Income the sum of 

  

	 	(a)	non-cash nonrecurring after-tax gains (or minus non-cash nonrecurring after-tax losses) 


 

	 	plus     (b)	any gain resulting from any write-up of assets (other than with respect to any company owned life insurance program); 


in each case calculated on a consolidated basis for the applicable period in accordance with GAAP; provided, however, if any non-cash
charge or loss added back in determining Consolidated EBITDA required a reserve or accrual for a potential future cash expenditure, Consolidated EBITDA shall be decreased by the amount of any such cash expenditure in the period such expenditure is
made. 
 “Consolidated Fixed Charge Coverage Ratio” means, for any Test Period, the ratio of
(a) Consolidated EBITDA of Company and its Subsidiaries for such Test Period, to (b) the sum of the following, in each case of Company and its Subsidiaries, as determined without duplication in accordance with GAAP for such period,
(i) net cash payments with respect to income taxes and permitted Restricted Payments paid pursuant to Section 8.5(e), (ii) Consolidated Interest Expense, (iii) Capital Expenditures (except for Capital Expenditures financed with
the proceeds of Indebtedness other than the Loans), (iv) scheduled payments of principal on Indebtedness (other than repayments in the ordinary course of the Loans which do not permanently reduce the Total Commitments) and (v) Restricted
Payments (other than Dividends paid with Permitted Unsecured Senior Debt Excess Proceeds) paid in cash during such Test Period except to the extent such payments reduce Consolidated EBITDA for such period. 

 

 - 12 - 







 “Consolidated Interest Expense” means, for any Person, for any period, the
sum of total interest expense (including that attributable to Capitalized Leases in accordance with GAAP) of such Person and its Subsidiaries on a consolidated basis with respect to all outstanding Indebtedness of such Person and its Subsidiaries,
including, without limitation, all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing, but excluding any amortization of deferred financing costs, all as determined on a
consolidated basis for such Person and its Subsidiaries in accordance with GAAP, in each case after taking into account the positive or negative effect of any Interest Rate Agreements, plus the interest component of any lease payments under
Attributable Debt transactions of such Person and its Subsidiaries, in each case on a consolidated basis. 

“Consolidated Net Income” means, for any Person, for any period, the aggregate of the net income (loss) of such Person
for such period, determined in accordance with GAAP on a consolidated basis, provided that (i) there shall be excluded the income of any unconsolidated Subsidiary and any Person in which any other Person (other than Company or any of its
Subsidiaries or any director holding qualifying shares in compliance with applicable law or any other third party holding a de minimus number of shares in order to comply with other similar requirements) has a joint interest, except to the
extent of the amount of dividends or other distributions actually paid to Company or any of its Wholly-Owned Subsidiaries by such Person during such period and (ii) the net income (loss) of any Person acquired in a pooling of interests
transaction for any period prior to the date of such acquisition shall be excluded. There shall be excluded in computing Consolidated Net Income (i) any gain which must be treated as an extraordinary item under GAAP or any gain realized upon
the sale or other disposition of any real property or equipment that is not sold in the ordinary course of business or of any Capital Stock of the Person or a Subsidiary of the Person and (ii) any loss which must be treated as an extraordinary
item under GAAP or any loss realized upon the sale or other disposition of any real property or equipment that is not sold in the ordinary course of business or of any Capital Stock of the Person or a Subsidiary of the Person. 

“Contaminant” means any material with respect to which any Environmental Law imposes a duty, obligation or standard of
conduct, including without limitation any pollutant, contaminant (as those terms are defined in 42 U.S.C. § 9601(33)), toxic pollutant (as that term is defined in 33 U.S.C. § 1362(13)), hazardous substance (as that term is defined in 42
U.S.C. §9601(14)), hazardous chemical (as that term is defined by 29 CFR § 1910.1200(c)), hazardous waste (as that term is defined in 42 U.S.C. § 6903(5)), or any state, local or other equivalent of such laws and regulations,
including, without limitation, radioactive material, special waste, polychlorinated biphenyls, asbestos, petroleum, including crude oil or any petroleum-derived substance, (or any fraction thereof), waste, or breakdown or decomposition product
thereof, mold, bacteria or any constituent of any such substance or waste, including but not limited to polychlorinated biphenyls and asbestos. 

“Continuation” shall have the meaning ascribed to that term in Section 4.3(a). 

“Contractual Obligation” means, as to any Person, any provision of any Securities issued by such Person or of any
indenture or credit agreement or any agreement, instrument or 
  

 - 13 - 







 
other undertaking to which such Person is a party or by which it or any of its property is bound or to which it may be subject. 

“Control” of a Person shall mean the possession, directly or indirectly, of the power to direct or cause the direction
of the management or policies of such Person, whether through the ownership of voting securities, by contract or otherwise. “Controlling” and “Controlled” shall have meanings correlative thereto. 

“Control Agreement” shall mean an agreement in writing, in form and substance reasonably satisfactory to Collateral
Agent, by and among Collateral Agent, the applicable Credit Party and any financial institution, securities intermediary, commodity intermediary or other Person who has custody, control or possession of any receipts on Accounts, deposits or
investment property of such Credit Party, pursuant to which such financial institution, securities intermediary, commodity intermediary or such other Person acknowledges that such financial institution, securities intermediary, commodity
intermediary or other Person has custody, control or possession of such receipts, deposits or investment property on behalf of Collateral Agent, that it will comply with entitlement orders originated by Collateral Agent with respect to such
receipts, deposits or investment property, or other instructions of Collateral Agent, or (as the case may be) apply any amounts distributed on account of such assets as directed by Collateral Agent, in each case, without the further consent of such
Credit Party and including such other terms and conditions as Collateral Agent may reasonably require not inconsistent with the terms of this Agreement. 

“Control Group” means Castlerigg Investments Ltd., QVT Financial LP, Ramius LLC and One East Partners Master LP.

 “Convert,” “Conversion” and “Converted” each shall refer to a conversion
of Loans of one Type into Loans of another Type pursuant to Section 4.3. 
 “Credit Event” means
the making of any Loan or the issuance of any Letter of Credit. 
 “Credit Party” means the Borrowers, each
Subsidiary Guarantor and any other guarantor which may hereafter enter into a guarantee agreement with respect to the Obligations. 

“Customary Permitted Liens” means, for any Person: 

(i)        Liens for taxes, duties, levies, imposts, deductions, assessments, charges, or
withholding not yet due and payable or which are being contested in good faith by appropriate proceedings diligently pursued, provided, that (A) any proceedings commenced for the enforcement of such Liens shall have been stayed or suspended
within 60 days of the commencement thereof and (B) provision for the payment of all such taxes, duties, levies, imposts, deductions, assessments, charges, or withholdings known to such Person has been made on the books of such Person to the
extent required by GAAP; 
 (ii)        mechanics’, processor’s,
materialmen’s, carriers’, landlord’s warehousemen’s and similar Liens arising by operation of law and arising in the ordinary course 

 

 - 14 - 







 
of business, provided that (A) any proceedings commenced for the enforcement of such Liens shall have been stayed or suspended within 90 days of the commencement thereof and
(B) provision for the payment of such Liens has been made on the books of such Person to the extent required by GAAP; 

(iii)        Liens arising in connection with worker’s compensation, unemployment
insurance, pensions and social security benefits, provided, that (A) any proceedings commenced for the enforcement of such Liens shall have been stayed or suspended within 60 days of the commencement thereof and (B) provision for the
payment of such Liens has been made on the books of such Person to the extent required by GAAP; 

(iv)        (A) Liens incurred or deposits made in the ordinary course of business to secure the
performance of bids, tenders, statutory obligations, fee and expense arrangements with trustees and fiscal agents (exclusive of obligations incurred in connection with the borrowing of money or the payment of the deferred purchase price of property)
and customary deposits granted in the ordinary course of business under Operating Leases and (B) Liens securing surety, indemnity, performance, appeal and release bonds, provided that full provision for the payment of all such obligations has
been made on the books of such Person to the extent required by GAAP; 

(v)        Permitted Real Property Encumbrances; 

(vi)        attachment, judgment or other similar Liens arising in connection with court or
arbitration proceedings involving individually and in the aggregate liability which does not constitute an Event of Default under Section 10.1(i); 

(vii)        leases or subleases granted to others not interfering in any material respect with
the business of such Person or any of its Subsidiaries and any interest or title of a lessor or sublessor under any lease or sublease permitted by this Agreement and the Security Documents; 

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

(ix)        Liens securing reimbursement obligations with respect to commercial letters of
credit which encumber documents and other property relating to such letters of credit and products and proceeds thereof; 

(x)        customary rights of set off, revocation, refund or chargeback under deposit
agreements or under the UCC (or comparable foreign law) of banks or other financial institutions where the Borrowers or their Subsidiaries maintain deposits permitted by this Agreement in the ordinary course of business; 

(xi)        Liens evidenced by the filing of precautionary UCC financing statements relating
solely to operating leases or consignments of personal property entered into 
  

 - 15 - 







 
in the ordinary course of business to the extent such leases do not create Attributable Debt and are permitted under this Agreement; 

(xii)        Liens on cash and short-term investments (a) deposited by Company or any of
its Subsidiaries in margin accounts with or on behalf of futures contract brokers or paid over to other counterparties or (b) pledged or deposited as collateral to a contract counterparty or issuer of surety bonds by Company or any of its
Subsidiaries, in the case of clause (a) or (b), to secure obligations with respect to (i) contracts for commercial and trading activities in the ordinary course of business and contracts (including without limitation, physical delivery,
option (whether cash or financial), exchange, swap and futures contracts) for the purchase, transmission, distribution, sale, lease or hedge of any energy-related commodity, feed stock, or service or (ii) interest rate, commodity price, or
currency rate management contracts or derivatives; provided that, the value of the short-term investments and cash subject to such Liens shall not, when aggregated with the outstanding amount of Approved Secured Derivative Transaction
Liabilities that are secured by the Collateral and treated as a Primary Secured Obligation, exceed $30,000,000; 

(xiii)        Liens arising by virtue of any statutory or common law provision relating to
banker’s liens, rights of set off or similar rights, contractual rights of setoff or netting arrangements entered into in the ordinary course of business and similar rights with respect to deposit accounts, commodity accounts and/or securities
accounts; 
 (xiv)        inchoate Liens arising under ERISA, provided that the
existence of the liability associated with the event or the action or inaction that gave rise to any such Lien does not constitute an Event of Default under Section 10.1(l); and 

(xv)        Liens granted by a Person in favor of a commercial trading counterparty pursuant to
a netting agreement, which Liens encumber rights under agreements that are subject to such netting agreement and which Liens secure such Person’s obligations to such counterparty under such netting agreement; provided, that any such agreements
and netting agreements are entered into in the ordinary course of business; and provided, further, that the Liens are incurred in the ordinary course of business and when granted, do not secure obligations which are past due. 

“DB” means Deutsche Bank Trust Company Americas, a New York banking corporation, and its successors. 

“DB Loan Account” shall have the meaning ascribed to that term in Section 2.5(c). 

“Default Rate” means a variable rate per annum which shall be two percent (2%) per annum plus either
(i) the then applicable interest rate hereunder in respect of the amount on which the Default Rate is being assessed or (ii) if there is no such applicable interest rate, the Base Rate plus the Applicable Base Rate Margin, but in no event
in excess of that permitted by applicable law. 
  

 - 16 - 







 “Defaulting Lender” shall mean any Lender which
has (i) wrongfully refused (which refusal has not been retracted) to, or failed to, make available its portion of any Borrowing or fund its L/C Participation Funding Amount pursuant to Section 3.6(b)(ii) within
one Business Day of the date required to be funded by it hereunder, (ii) been deemed insolvent or has become the subject of a bankruptcy or insolvency proceeding or a takeover by a Governmental Authority, or an Affiliate of such
Lender having “control” of such Lender (within the meaning provided in the definition of “Affiliate”) has been deemed insolvent or has become the subject of a bankruptcy or insolvency proceeding or a takeover by a
Governmental Authority, (iii) notified the Administrative Agent, any Issuing Bank and/or any Credit Party (x) that it does not intend to comply with its obligations under Section 2.1 or Article 3 in
circumstances where such non-compliance would constitute a breach of such Lender’s obligations under the respective Section or Article or (y) of the events described in preceding clause (ii), or (iv) defaulted with
respect to its obligations under any other credit facility to which it is a party and any Issuing Bank or the Administrative Agent believes in good faith that such default has occurred and is continuing; provided that that a
Lender shall not be deemed a “Defaulting Lender” solely by virtue of the ownership or acquisition of any equity interest in such Lender or any affiliate or parent thereof by a Governmental Authority or an instrumentality thereof.

 “Deposit Account” means a demand, concentration, time, savings, passbook or similar account maintained with
a Person engaged in the business of banking, including a savings bank, savings and loan association, credit union, trust company or like organization, other than an account evidenced by a negotiable certificate of deposit or other instrument.

 “Derivative Transaction” shall mean a transaction entered into by Company or any of its Subsidiaries
evidenced by (a) an Interest Rate Agreement or (b) an Other Hedging Agreement. Unless otherwise expressly provided to the contrary, the amount of the obligations of any Credit Party in respect of a Derivative Transaction shall be
calculated by reference to the mark to market termination value of the relevant Derivative Transaction as of the last day of the preceding month or as of the day most recently requested by the Administrative Agent or the day that such mark to market
termination value has been provided by the Lender that is the Derivative Transaction provider. 
 “Disbursement
Account” shall mean any bank account into which no payments in respect of Accounts are directly deposited and which has a zero principal balance at the close of business each day. 

“Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable, in each case, at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or
redeemable at the option of the holder of the Capital Stock, in whole or in part, on or prior to the date that is one year after the then latest maturity of any Term Loan. Notwithstanding the preceding sentence, any Capital Stock that would
constitute Disqualified Stock solely because the holders of the Capital Stock have the right to require Company to repurchase such Capital Stock upon the occurrence of a change of control or an asset sale shall not constitute Disqualified Stock if
the terms of such Capital Stock provide that Company may not repurchase or redeem any such 
  

 - 17 - 







 
Capital Stock pursuant to such provisions unless such repurchase or redemption complies with the provisions of Section 8.5 hereof. The amount of Disqualified Stock deemed to be
outstanding at any time for purposes of this Agreement shall be equal to the maximum amount that Company and its Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified
Stock. 
 “Dividend” means any dividend or distribution paid or made by a Person to the direct or indirect
holders of its Capital Stock on or in respect of such Capital Stock. 
 “Documents” means the Loan Documents
and the Transaction Documents. 
 “Dollar” and “$” means lawful money of the United States of
America. 
 “Domestic Lending Office” shall mean, with respect to any Lender, the office of such Lender
specified as its “Domestic Lending Office” opposite its name on Annex I, as such annex may be amended from time to time, or in the relevant Assignment and Assumption Agreement. 

“Domestic Subsidiary” means any Subsidiary other than a Foreign Subsidiary. 

“Eligible Accounts Receivable” shall mean an Account owing to any Borrower which is acceptable to Co-Collateral Agents
in their Permitted Discretion, and shall exclude any such Account that Co-Collateral Agents determined in their Permitted Discretion to be ineligible pursuant to the definition of “Borrowing Base”. Without limiting Co-Collateral
Agents’ Permitted Discretion, Co-Collateral Agents shall, in general, consider an Account to be an Eligible Accounts Receivable if it meets, and so long as it continues to meet, the following requirements (and unless otherwise approved in
writing by Co-Collateral Agents, any Account that fails to meet such requirements shall not be an Eligible Account Receivable): 

(i)        it is genuine and in all respects what it purports to be; 

(ii)        it is owned by a Borrower, such Borrower has the right to subject it
to a security interest in favor of Collateral Agent or assign it to Collateral Agent and it is subject to a first priority perfected security interest in favor of Collateral Agent and to no other claim, lien, security interest or encumbrance
whatsoever, other than Permitted Liens; 
 (iii)        it arises from
(A) the performance of services by a Borrower in the ordinary course of such Borrower’s business, and such services have been fully performed and acknowledged and accepted by the account debtor thereunder; or (B) the sale or lease of
goods by a Borrower in the ordinary course of such Borrower’s business, and (x) such goods have been completed in accordance with the account debtor’s specifications (if any) and delivered or shipped to the account debtor,
(y) such account debtor has not refused to accept, returned or offered to return, any of the goods which are the subject of such Account, and (z) if applicable, such Borrower has possession of, or such Borrower has delivered to
Co-Collateral Agents (at Co-Collateral Agents’ request) shipping and delivery receipts evidencing delivery of such goods; 
  

 - 18 - 







 (iv)        it is evidenced by an
invoice rendered to the account debtor thereunder (or the goods have been shipped and title passed prior to invoice, with an invoice to be rendered within 30 days thereafter and, in any event, no later than the 15th of the month following the month
such goods have been shipped), that is due and payable within sixty days after the date of the invoice and does not remain unpaid sixty days past the due date thereof (forty-five days past the date of the invoice in the case of an Account eligible
pursuant to clause (x)(2) below); provided, however, that if more than fifty percent (50%) of the aggregate dollar amount of invoices owing by a particular account debtor remain unpaid sixty days after the respective due dates thereof, then all
Accounts owing by that account debtor shall be deemed ineligible; 

(v)        it is a valid, legally enforceable and unconditional obligation of the
account debtor thereunder, and is not subject to setoff, counterclaim, credit, allowance or adjustment by such account debtor, or to any claim by such account debtor denying liability thereunder in whole or in part; 

(vi)        it does not arise out of a contract or order which fails in any
material respect to comply with the requirements of applicable law; 

(vii)        the account debtor thereunder is not an Affiliate of a Credit Party;

 (viii)        it is not an Account with respect to which the account
debtor is the United States of America or any state or local government, or any department, agency or instrumentality thereof, unless such Borrower assigns its right to payment of such Account to Collateral Agent pursuant to, and in full compliance
with, the Assignment of Claims Act of 1940, as amended, or any comparable state or local law, as applicable; 

(ix)        it is not an Account with respect to which the account debtor is
located in a state which requires such Borrower, as a precondition to commencing or maintaining an action in the courts of that state, either to (A) receive a certificate of authority to do business and be in good standing in such state; or
(B) file a notice of business activities report or similar report with such state’s taxing authority, unless (x) such Borrower has taken one of the actions described in clauses (A) or (B); (y) the failure to take one of the
actions described in either clause (A) or (B) may be cured retroactively by such Borrower at its election; or (z) such Borrower has proven, to Co-Collateral Agents’ satisfaction, that it is exempt from any such requirements under
any such state’s laws; 
 (x)        the Account is payable in U.S.
Dollars and the account debtor is located either (A) within the United States of America or Canada or (B) within a foreign country other than Canada and either (1) the Account is supported or secured by an irrevocable letter of credit
which is in form and substance satisfactory to Co-Collateral Agents and issued by a financial institution acceptable to Co-Collateral Agents and the Collateral Agent has a first priority perfected security interest in such letter of credit and the
related Letter-of-credit rights and Supporting obligations (each as defined in the UCC) or (2) the amount of such Account when aggregated with all other Accounts the 

 

 - 19 - 







 
account debtors of which are located within a foreign country other than Canada and which do not meet the requirements of clause (1) above does not exceed $5,000,000; 

(xi)        it is not an Account with respect to which the account debtor’s
obligation to pay is subject to any repurchase obligation or return right, as with sales made on a bill-and-hold, guaranteed sale, sale on approval, sale or return or consignment basis; 

(xii)        it is not an Account (A) with respect to which any
representation or warranty contained in this Agreement is untrue; or (B) which violates any of the covenants of the Borrowers contained in this Agreement; 

(xiii)        it is not an Account which, when aggregated with all other Accounts
of such account debtor (and any Affiliate thereof), exceeds 20 percent (20%), in face value of all Accounts of the Borrowers combined then outstanding, to the extent of such excess; provided that Accounts insured in a manner satisfactory to
the Co-Collateral Agents, guaranteed by a guarantor reasonably acceptable to the Co-Collateral Agents or supported or secured by an irrevocable letter of credit in form and substance satisfactory to the Co-Collateral Agents and issued by a financial
institution satisfactory to the Co-Collateral Agents and the Collateral Agent has a first priority perfected security interest in such letter of credit and related Letter-of-Credit Rights and Supporting Obligations (each as defined in the UCC),
shall be excluded for the purposes of such calculation to the extent of the face amount of such letter of credit or, in the case of insurance or guarantees, as determined by the Co-Collateral Agents in their Permitted Discretion; 

(xiv)        it is not an account the account debtor of which has commenced a
voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended, or made an assignment for the benefit of creditors, or if a decree or order for relief has been entered by a court having jurisdiction over the account debtor
in an involuntary case under the federal bankruptcy laws, as now constituted or hereafter amended, or if any other petition or other application for relief under the federal bankruptcy laws has been filed by or against the account debtor, or if the
Co-Collateral Agents in their Permitted Discretion determined that such a filing may occur or if the account debtor has filed a certificate of dissolution under applicable state law or shall be liquidated, dissolved or wound-up, or shall authorize
or commence any action or proceeding for dissolution, winding-up or liquidation, or if the account debtor has failed, suspended business, declared itself to be insolvent, is generally not paying its debts as they become due or has consented to or
suffered a receiver, trustee, liquidator or custodian to be appointed for it or for all or a significant portion of its assets or affairs (any such act or event an “Act of Bankruptcy”), unless the payment of Accounts from such
account debtor is secured by assets of, or guaranteed by, in either case in a manner satisfactory to the Co-Collateral Agents, a Person with respect to which an Act of Bankruptcy has not occurred and that is acceptable to the Co-Collateral Agents
or, if the Account from such account debtor arises subsequent to a decree or order for relief with respect to such account debtor under the federal bankruptcy laws, as now or hereafter in 

 

 - 20 - 







 
effect, the Co-Collateral Agents shall have determined that the timely payment and collection of such Account will not be impaired; and 

(xv)        the goods giving rise to such Account are not Eligible Inventory of a
Borrower included in the same Borrowing Base calculation. 
 “Eligible Assignee” means any Lender and any
commercial bank, financial institution, financial company, Fund or insurance company, in each case, together with its Affiliates or Related Funds, which extends credit or buys loans in the ordinary course of its business or any other Person approved
by the Administrative Agent and Company, both such parties’ approval not to be unreasonably withheld. 
 “Eligible
Inventory” shall mean Inventory of a Borrower which is acceptable to Co-Collateral Agents in their Permitted Discretion and shall exclude any Inventory that Co-Collateral Agents determine in their Permitted Discretion to be ineligible
pursuant to the definition of “Borrowing Base”. Without limiting Co-Collateral Agents’ Permitted Discretion, Co-Collateral Agents shall, in general, consider Inventory to be Eligible Inventory if it meets, and so long as it continues
to meet, the following requirements (and unless otherwise approved in writing by Co-Collateral Agents any Inventory that fails to meet such requirements shall not be Eligible Inventory): 

(i)        it is owned by a Borrower, such Borrower has the right to subject it
to a security interest in favor of Collateral Agent and it is subject to a first priority perfected security interest in favor of Collateral Agent and to no other claim, lien, security interest or encumbrance whatsoever, in each case other than
Permitted Liens; 
 (ii)        it is located on one or more of the
premises listed on Schedule 6.23 to this Agreement (or other locations of which Co-Collateral Agents have been advised in writing) and is not in transit (except for (A) Inventory in transit to or from one of such locations listed on
Schedule 6.23 to this Agreement (or of which Co-Collateral Agents have been notified in writing) to another location in the United States and (B) Inventory in transit not exceeding $5,000,000); 

(iii)        if held for sale or lease or furnishing under contracts of service,
it is (except as Co-Collateral Agents may otherwise consent in writing) new and unused and free from defects which would, in Co-Collateral Agents’ Permitted Discretion, adversely affect its market value; 

(iv)        it is not stored with a bailee, consignee, warehouseman, processor or
similar party unless such Borrower has caused any such bailee, consignee, warehouseman, processor or similar party to issue and deliver to Collateral Agent, in form and substance reasonably acceptable to Collateral Agent, such Uniform Commercial
Code financing statements, warehouse receipts, Bailee Waivers, Landlord Consents and other documents as Collateral Agent shall reasonably require or a 3 month reserve of rent or charges is maintained with respect thereto as determined in the
Permitted Discretion of Co-Collateral Agents; 
  

 - 21 - 







 (v)        Co-Collateral Agents have
determined, in their Permitted Discretion and in the customary business practices of Co-Collateral Agents, that it is not unacceptable due to age, type, category or quantity; and 

(vi)        it is not Inventory (A) with respect to which any of the
representations and warranties contained in this Agreement are untrue; or (B) which violates any of the covenants of the Borrowers contained in this Agreement. 

“Environmental Claim” means any notice of violation, claim, suit, demand, abatement order or other order or direction
(conditional or otherwise) by any Governmental Authority or any Person for any damage, personal injury (including sickness, disease or death), tangible or intangible property damage, contribution, cost recovery, or any other common law claims,
indemnity, indirect or consequential damages, damage to the environment, nuisance, cost recovery, or any other common law claims, pollution, contamination or other adverse effects on the environment, human health, or natural resources, or for fines,
penalties, restrictions or injunctive relief, resulting from or based upon (a) the occurrence or existence of a Release or substantial threat of a material Release (whether sudden or non-sudden or accidental or non-accidental) of, or exposure
to, any Contaminants in, into or onto the environment at, in, by, from or related to the Premises, (b) the use, handling, generation, transportation, storage, treatment or disposal of Contaminants in connection with the operation of any
Premises, or (c) the violation, or alleged violation, of any Environmental Laws relating to environmental matters connected with the operations of Company or any of its Subsidiaries or any Premises. 

“Environmental Laws” means any and all applicable foreign, federal, state or local laws, statutes, ordinances, codes,
rules, regulations, orders, decrees, judgments, directives, or Environmental Permits and cleanup or action standards, levels or objectives imposing liability or standards of conduct for or relating to the protection of health, safety or the
environment, including, but not limited to, the following statutes as now written and hereafter amended: the Water Pollution Control Act, as codified in 33 U.S.C. § 1251 et seq., the Clean Air Act, as codified in 42 U.S.C. § 7401
et seq., the Toxic Substances Control Act, as codified in 15 U.S.C. § 2601 et seq., the Solid Waste Disposal Act, as codified in 42 U.S.C. § 6901 et seq., the Comprehensive Environmental Response, Compensation and
Liability Act, as codified in 42 U.S.C. § 9601 et seq., the Emergency Planning and Community Right-to-Know Act of 1986, as codified in 42 U.S.C. § 11001 et seq., and the Safe Drinking Water Act, as codified in 42 U.S.C.
§ 300f et seq., and any related regulations, as well as all state and local equivalents. 
 “Environmental
Lien” means a Lien in favor of any Governmental Authority for (i) any liability under Environmental Laws, or licenses, authorizations, or directions of any Government Authority or court, or (ii) damages relating to, or costs
incurred by such Governmental Authority in response to, a Release or threatened Release of a Contaminant into the environment. 

“Environmental Permits” means any and all permits, licenses, certificates, authorizations or approvals of any
Governmental Authority required by Environmental Laws and necessary or reasonably required for the current operation of the business of Company or any of its Subsidiaries. 
  


 - 22 - 







 “Environmental Studies” means those certain environmental assessments, and
documents upon which such assessments are based, of certain of the Mortgaged Fee Properties, prepared by an environmental consulting firm reasonably acceptable to Administrative Agent with regard to the existing and potential liability of any Credit
Party under any Environmental Laws, including a review of compliance with Environmental Laws. 
 “ERISA” means
the Employee Retirement Income Security Act of 1974, as from time to time amended. 
 “ERISA Affiliate” means,
with respect to any Person, any trade or business (whether or not incorporated) which, together with such Person, is under common control as described in Section 414(c) of the Code, is a member of a “controlled group”, as defined in
Section 414(b) of the Code, which includes such Person, or is treated as a single employer with such Person under Sections 414(m) or (o) of the Code. Unless otherwise qualified, all references to an “ERISA Affiliate” in this
Agreement shall refer to an ERISA Affiliate of a Credit Party or any of its Subsidiaries. 
 “Eurodollar Lending
Office” shall mean, with respect to any Lender, the office of such Lender specified as its “Eurodollar Lending Office” opposite its name on Annex I or in the relevant Assignment and Acceptance Agreement (or, if no such
office is specified, its Domestic Lending Office), or such other office or Affiliate of such Lender as such Lender may from time to time specify to the Funds Administrator and the Administrative Agent. 

“Eurodollar Loan” means any Loan bearing interest at a rate determined by reference to the Eurodollar Rate. 

“Eurodollar Rate” shall mean (a) (i) the rate appearing on Reuters Screen Libor 01 (or on any successor or
substitute page of such screen, or any successor to or substitute for such screen, providing rate quotations comparable to those currently provided on such page of such screen, as determined by the Administrative Agent from time to time for purposes
of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, on the applicable Interest Rate Determination Date for an Interest Period, as the rate for dollar
deposits with a maturity comparable to such Interest Period or (ii) if such rate is not available at such time for any reason, the arithmetic average of the offered quotations, if any, to first class banks in the interbank Eurodollar market by
Administrative Agent for Dollar deposits of amounts in same day funds comparable to the principal amount of the Eurodollar Loan of Administrative Agent for which the Eurodollar Rate is then being determined with maturities comparable to such
Interest Period as of approximately 11:00 a.m. (New York time) on such Interest Rate Determination Date, divided by (b) a percentage equal to 100% minus the then stated maximum rate of all reserve requirements (including, without limitation,
any marginal, emergency, supplemental, special or other reserves required by applicable law) applicable to any member bank of the Federal Reserve System in respect of Eurocurrency funding or liabilities as defined in Regulation D (or any successor
category of liabilities under Regulation D). 
 “Event of Default” has the meaning assigned to that term in
Section 10.1. 
  

 - 23 - 







 “Exchange Act” means the Securities Exchange Act of 1934, as amended and
as codified in 15 U.S.C. 78a et seq., and as hereafter amended. 
 “Excluded Taxes” means: 

(i)        taxes based upon, or measured by, the Lender’s or Administrative Agent’s
(or a branch of the Lender’s or Administrative Agent’s) overall net income, overall net receipts, or overall net profits (including franchise taxes imposed in lieu of such taxes), but only to the extent such taxes are imposed by a
Governmental Authority (A) in a jurisdiction in which such Lender or Administrative Agent is organized, (B) in a jurisdiction which the Lender’s or Administrative Agent’s principal office is located, or (C) in a jurisdiction
in which such Lender’s or Administrative Agent’s lending office (or branch) in respect of which payments under this Agreement are made is located; 

(ii)        in the case of any Lender (other than a Lender that is an Assignee) or
Administrative Agent that is a Non-U.S. Participant, taxes imposed by the means of withholding at the source except to the extent such withholding (A) results from a Change in Law by any Governmental Authority charged with the administration
thereof subsequent to the Restatement Date or (B) is imposed on payments with respect to a Lender’s interest in the Loan Documents acquired under Section 4.13 or Section 12.6; 

(iii)        in the case of any Assignee that is a Non-U.S. Participant, taxes imposed by means
of withholding at the source except to the extent such withholding (A) results from a Change in Law by any Governmental Authority charged with the administration thereof subsequent to the date of the Assignee becoming a party to this Agreement
or any Loan Document with respect to the portion thereof affected by such change; (B) is imposed on payments with respect to an Assignee’s interest in the Loan Documents acquired under Section 4.13 or Section 12.6;
or (C) would have been imposed on payments to the Lender that sold or otherwise transferred the interest to the Assignee at the time of such sale or transfer and such withholding taxes would not have been Excluded Taxes with respect to such
Lender; and 
 (iv)        taxes imposed on a Lender or Administrative Agent by means
of withholding at the source to the extent such taxes would have not been imposed under applicable law if such Lender or Administrative Agent had complied with Section 2.8(d). 

“Existing Commitments” means the respective commitments of each lender under the Existing Credit Agreement. 

“Existing Credit Agreement” means that certain Revolving Credit Agreement dated as of June 27, 2006, among the
Borrowers, the lenders from time to time party thereto and DB, as Administrative Agent (as amended, modified or supplemented prior to the Restatement Date). 

“Existing Hedge Agreement” shall mean any Interest Rate Agreement or Other Hedging Agreement entered into by Borrowers
with any Existing Lender that is a Lender or an Affiliate of such Person under the Existing Credit Agreement prior to the Restatement Date that was secured by the “Collateral” as defined in the Existing Credit Agreement. 

 

 - 24 - 







 “Existing Lender” means a Lender under the Existing Credit Agreement on
the Restatement Date. 
 “Existing Mortgages” means, collectively, (i) the Deed of Trust, Assignment of
Leases and Rents, Security Agreement and Fixture Filing, dated as of June 27, 2006, granted by Company in favor of James A. Johnson, as trustee, for the benefit of Deutsche Bank Trust Company Americas, as Administrative Agent and Collateral
Agent and recorded on June 27, 2006 in the Official Public Records of Real Property, Harris County, Texas under Clerk’s File No. Z406377 and (ii) the Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture
Filing, dated as of June 27, 2006, granted by Company in favor of Reno Hartfiel, as trustee, for the benefit of Deutsche Bank Trust Company Americas, as Administrative Agent and Collateral Agent and recorded on June 28, 2006 in the
Official Public Records of Real Property, Jefferson County, Texas under Clerk’s File No. 2006025121 and re-filed on August 4, 2006 under Clerk’s File No. 2006030575. 

“Expenses” shall mean all present and future reasonable expenses incurred by or on behalf of the Administrative Agent,
the Collateral Agent or any of the Co-Collateral Agents, in its capacity as Administrative Agent, Collateral Agent or a Co-Collateral Agent,, in connection with this Agreement or any other Loan Document, whether incurred heretofore or hereafter,
which expenses shall include, without being limited to, the cost of record searches, the reasonable fees and, with respect to the Administrative Agent and Collateral Agent only, expenses of attorneys (including the allocated cost of internal
counsel) and paralegals, all reasonable costs and expenses incurred by the Administrative Agent in opening bank accounts and lockboxes, depositing checks, receiving and transferring funds, and any reasonable charges imposed on the Administrative
Agent due to insufficient funds of deposited checks and the Administrative Agent’s standard fee relating thereto, collateral examination fees and expenses, reasonable fees and expenses of accountants, appraisers, field examiners or other
consultants, experts or advisors employed or retained by the Administrative Agent or Collateral Agent, reasonable fees and expenses incurred by the Administrative Agent in connection with the initial assignments of the Loans, fees and taxes relative
to the filing of financing statements, costs of preparing and recording any other Security Documents, all expenses and costs referred to in Article IV of this Agreement, all other reasonable fees and expenses required to be paid pursuant
to the Fee Letter and all reasonable fees and expenses incurred in connection with releasing Collateral and the amendment or termination of any of the Loan Documents. 

“Expiration Date” shall mean the earliest of (a) April 29, 2014, (b) if more than $25,000,000 of Terms Loans
under the Term Loan Credit Facility having a maturity date of June 27, 2013 remain outstanding on March 29, 2013, then March 29, 2013 and (c) the date of the termination or reduction to zero (0) of the Total Commitments.

 “Exposure” means, with respect to any Lender (assuming that any Interim Advances have been settled), the
aggregate amount of such Lender’s outstanding Loans plus such Lender’s pro rata share (based on its Commitments, or, if all the Commitments have been terminated, its Commitments immediately prior (and without giving effect) to such
termination) of outstanding Letter of Credit Obligations. 
  

 - 25 - 







 “Fair Market Value” means the value that would be paid by a willing buyer
to a willing seller in a transaction not involving distress or necessity of either party, determined in good faith by the chief financial officer of Company or Board of Directors of Company or the selling entity (unless otherwise provided in this
Agreement). 
 “Federal Funds Rate” means on any one day, the rate per annum equal to the weighted average of
the rate on overnight federal funds transactions with members of the Federal Reserve System only arranged by federal funds brokers, as published as of such day by the Federal Reserve Bank of New York, or, if such rate is not so published, the
average of the quotations for such day on such Transaction received by DB from three federal funds brokers of recognized standing selected by DB. 

“Fee Letter” means that Engagement and Fee Letter dated March 18, 2010 among DB, Deutsche Bank Securities Inc. and
Company and providing for the payment of certain fees in connection with this Agreement. 
 “Fees” shall mean
the Unused Line Fee, the Letter of Credit Fees and the Issuing Bank Fees, and, without duplication, all fees payable by the Borrowers under the Fee Letter. 

“Fiscal Quarter” means a quarterly accounting period ending on each of
March 31st, June 
30th, September 
30th and
December 31st of each Fiscal Year. 

“Fiscal Year” means an accounting period that begins
July 1st and ends
June 30th; provided that, after any election
by Company in accordance with Section 8.11, “Fiscal Year” shall mean (a) initially, the accounting period that begins on July 1, 2010 and ends on December 31, 2010 and (b) thereafter, the accounting period
that begins on January 1st and ends on December 31st of each year. 
 “Foreign Investment” means any
(a) Investment by a Credit Party in a Foreign Subsidiary, (b) purchase by a Credit Party of assets located outside of the United States (including the purchase of Capital Stock of a Person not domiciled in the United States),
(c) issuance of a Letter of Credit under this Agreement for the benefit of a Foreign Subsidiary or (d) incurrence of a Guarantee Obligation by a Credit Party for the direct or indirect benefit of any Foreign Subsidiary. 

“Foreign Pension Plan” means any plan, fund (including, without limitation, any super-annuation fund) or other similar
program established or maintained outside of the United States of America by a Credit Party or one or more of its Subsidiaries or its Affiliates primarily for the benefit of employees of the Credit Party or such Subsidiaries or its Affiliates
residing outside the United States of America, which plan, fund, or similar program provides or results in, retirement income in a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and which is
not subject to ERISA or the Code. 
 “Foreign Requirements of Law” means any Requirement of Law of a
Governmental Authority in a foreign jurisdiction (including any exchange control, financial assistance, minimum capitalization, fraudulent conveyance, mandatory labor advice or similar rules or regulations). 

 

 - 26 - 







 “Foreign Subsidiary” means any Subsidiary that is organized under the laws
of a jurisdiction other than the United States of America or any state thereof or the District of Columbia. 
 “Former
Premises” means, at any time, all real property formerly owned, leased or operated by Company or any of its Subsidiaries. 

“Fronting Fees” shall have the meaning ascribed to that term in Section 4.8(b). 

“Fund” means a Person that is a fund that invests in senior loans. 

“Funds Administrator” shall mean Company in its capacity as borrowing agent and funds administrator for the Borrowers
hereunder and under each of the other Loan Documents. 
 “GAAP” means generally accepted accounting principles
in the U.S. as in effect from time to time. 
 “Governmental Authority” means any nation or government, any
intergovernmental or supranational body, any state or other political subdivision thereof and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing,
regulatory or administrative functions of government, any securities exchange and any self-regulatory organization (including the National Association of Insurance Commissioners). 

“Guarantee Obligations” means, as to any Person, without duplication, any direct or indirect obligation of such Person
guaranteeing or intended to guarantee any Indebtedness, Operating Lease, dividend or other obligation (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including,
without limitation, any obligation of such Person, whether or not contingent: (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor; (ii) to advance or supply funds (a) for the
purchase or payment of any such primary obligation, or (b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor; (iii) to purchase property,
securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation; or (iv) otherwise to assure or hold harmless the owner of
such primary obligation against loss in respect thereof; provided, however, that the term Guarantee Obligations shall not include (x) any endorsements of instruments for deposit or collection in the ordinary course of business,
(y) any such obligations with respect to leases, supply contracts and other contracts or warranties and indemnities, in each case, not constituting Indebtedness of such Person, which have been or are undertaken or made in the ordinary course of
business by such Person or any of its Subsidiaries (including, without limitation, guarantees of leases and supply contracts entered into in the ordinary course of business) or (z) any such obligations with respect to surety, appeal and
performance bonds obtained by such Person or any of its Subsidiaries in the ordinary course of business, to the extent not constituting Indebtedness and for which the liability with respect to such obligation is not required to be reflected on a
balance sheet prepared in accordance with GAAP. The amount of any Guarantee Obligation at 
  

 - 27 - 







 
any time shall be deemed to be an amount equal to the lesser at such time of (a) the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is
made or (b) the maximum amount for which such Person may be liable pursuant to the terms of the instrument embodying such Guarantee Obligation; or, if not stated or determinable, the maximum reasonably anticipated liability (assuming full
performance) in respect thereof. 
 “Guarantors” means, collectively, each Subsidiary Guarantor, and each
Person (other than Administrative Agent) party to any Subsidiary Guaranty. 
 “Holdings” means TPC Group Inc.,
a Delaware corporation. 
 “Indebtedness” means, as applied to any Person (without duplication): 

(i)            all indebtedness of such Person for borrowed
money; 
 (ii)            the deferred and unpaid
balance of the purchase price of assets or services purchased by such Person which purchase price is (a) due more than six months from the date of incurrence of the obligation in respect thereof or (b) evidenced by a note or a similar
written instrument; 
 (iii)            all
Capitalized Lease Obligations of such Person; 

(iv)            all indebtedness secured by any Lien on any
property owned by such Person, whether or not such indebtedness has been assumed by such Person or is nonrecourse to such Person; 

(v)            notes payable and drafts accepted representing
extensions of credit to such Person whether or not representing obligations for borrowed money (other than such notes or drafts for the deferred purchase price of assets or services which does not constitute Indebtedness pursuant to clause
(ii) above); 
 (vi)            indebtedness or
obligations of such Person, in each case, evidenced by bonds, notes or similar written instruments; 

(vii)            the face amount of all letters of credit
(other than trade letters of credit) and bankers’ acceptances issued for the account of such Person, and without duplication, all drafts drawn thereunder other than, in each case, commercial or standby letters of credit or the functional
equivalent thereof issued in connection with performance, bid or advance payment obligations incurred in the ordinary course of business, including, without limitation, performance requirements under workers compensation or similar laws; 

(viii)            all obligations of such Person under
Interest Rate Agreements or Other Hedging Agreements; 

(ix)            all Disqualified Stock of such Person;

  

 - 28 - 








(x)            Attributable Debt of such Person; and

 (xi)            Guarantee Obligations of such
Person in respect of obligations described in clauses (i) - (x) above. 
 “Indebtedness to Remain Outstanding”
shall have the meaning assigned to that term in Section 8.2(i). 
 “Indemnified Person” has the
meaning assigned to that term in Section 12.4(b). 
 “Independent Financial Advisor” means an
accounting, appraisal, investment banking or consulting firm of nationally recognized standing that is, in the reasonable and good faith judgment of the board of directors of Company, qualified to perform the task for which such firm has been
engaged and disinterested and independent with respect to Company and its Affiliates. 
 “Intellectual
Property” has the meaning assigned to that term in Section 6.21. 
 “Intercompany
Indebtedness” means Indebtedness of Company or any of their respective Subsidiaries which is owing to any member of such group. 

“Intercreditor Agreement” means that certain Intercreditor Agreement dated as of June 27, 2006 among Term Agent,
Term Collateral Agent, Administrative Agent, Collateral Agent, DB, as mortgagee, Company and the Guarantors identified therein, as amended, restated or otherwise modified in accordance with the terms hereof and thereof. 

“Interest Payment Date” means (a) as to any Base Rate Loan, the first Business Day of each Fiscal Quarter,
beginning on July 1, 2010, (b) as to any Eurodollar Loan having an Interest Period of three months or less, the last day of the Interest Period applicable thereto and (c) as to any Eurodollar Loan having an Interest Period longer than
three months, each three month anniversary of the first day of the Interest Period applicable thereto and the last day of the Interest Period applicable thereto. 

“Interest Period” has the meaning assigned to that term in Section 4.5. 

“Interest Rate Agreement” means any interest rate swap agreement, interest rate cap agreement, interest rate collar
agreement, interest rate futures contract, interest rate option contract or other similar agreement or arrangement to which Company or any Subsidiary is a party. 

“Interest Rate Determination Date” means the date for calculating the Eurodollar Rate for an Interest Period, which
date shall be the second Business Day prior to first day of the related Interest Period for such Loan. 
 “Interim
Advance” shall mean a Loan made by the Administrative Agent to the Borrowers pursuant to Section 2.2(b)(i). 
  

 - 29 - 







 “Interim Advance Period” shall have the meaning ascribed to that term in
Section 2.2(b)(i). 
 “Inventory” means, inclusively, all inventory as defined in the UCC from
time to time and all goods, merchandise and other personal property wherever located, now owned or hereafter acquired by Borrowers or any of their Subsidiaries of every kind or description which are held for sale or lease or are furnished or to be
furnished under a contract of service or are raw materials, work-in-process or materials used or consumed or to be used or consumed in Borrowers’ or any of their Subsidiaries’ business. 

“Investment” means, as applied to any Person, (i) any direct or indirect purchase or other acquisition by that
Person of, or a beneficial interest in, Securities of any other Person, or a capital contribution by that Person to any other Person, (ii) any direct or indirect loan or advance (including Guarantee Obligations) to any other Person (other than
prepaid expenses, extensions of trade credit, or Accounts Receivable, in each case, created or acquired in the ordinary course of business), including all Indebtedness to such Person arising from a sale of property by such person other than in the
ordinary course of its business (iii) any Acquisition by that Person, (iv) any purchase by that Person of a futures contract or such person otherwise becoming liable for the purchase or sale of currency or other commodity at a future date
in the nature of a futures contract or (v) any other direct or indirect purchase or acquisition of assets that are or would be classified as investments on a balance sheet prepared in accordance with GAAP. The amount of any Investment by any
Person on any date of determination shall be the sum of the value of the gross assets transferred to or acquired by such Person (including the amount of any liability assumed in connection with such transfer or acquisition by such Person to the
extent such liability would be reflected on a balance sheet prepared in accordance with GAAP) plus the cost of all additions, thereto, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect
to such Investment, minus the amount of all cash returns of principal or capital thereon, cash dividends thereon and other cash returns on investment thereon or liabilities expressly assumed by another Person (other than Company or another
Subsidiary of Company) in connection with the sale of such Investment. Whenever the term “outstanding” is used in this Agreement with reference to an Investment, it shall take into account the matters referred to in the preceding sentence.

 “IRS” means the United States Internal Revenue Service, or any successor or analogous organization.

 “Issuing Bank” shall mean DB or (a) any Lender or (b) any Affiliate of a Lender that, in either
case, is acceptable to the Administrative Agent and has agreed to issue a Letter of Credit for the account of the Borrowers under this Agreement. 

“Issuing Bank Fees” shall have the meaning ascribed to that term in Section 4.8(b). 

“L/C Interest Rate” shall have the meaning ascribed to that term in Section 3.5(b). 

“L/C Notice of Drawing” shall mean the date on which the Issuing Bank provides Administrative Agent with notice that a
drawing has been made under a Letter of Credit. 
  

 - 30 - 







 “L/C Participation” shall have the meaning ascribed to that term in
Section 3.4(a). 
 “L/C Participation Funding Amount” shall have the meaning ascribed to that term
in Section 3.6(b)(i)(A). 
 “L/C Participation Funding Date” shall have the meaning ascribed to
that term in Section 3.6(b)(ii). 
 “L/C Participation Funding Notice” shall have the meaning
ascribed to that term in Section 3.6(b)(i)(A). 
 “Landlord Consent” means a letter in favor of
Collateral Agent for the benefit of the Lenders which is executed by each lessor of any leased property of Company or any Subsidiary of Company at which Collateral may now or in the future be located, in form and substance reasonably satisfactory to
Collateral Agent. 
 “Lender” and “Lenders” have the respective meanings assigned to those
terms in the introduction to this Agreement and shall include any Person that becomes a “Lender” as contemplated by Section 12.8. 

“Letter of Credit” shall mean all letters of credit (whether commercial or stand-by and whether for the purchase of
inventory, equipment or otherwise) issued for the account of any Borrower by an Issuing Bank pursuant to Article 3 of this Agreement and all amendments, renewals, extensions or replacements thereof. 

“Letter of Credit Back-Stop Arrangements” shall have the meaning ascribed to that term in Section 12.9(c).

 “Letter of Credit Exposure” shall mean, at any time, the aggregate amount of all Letter of Credit
Obligations at such time in respect of Letters of Credit issued for the account of Borrowers. 
 “Letter of Credit
Fees” shall have the meaning ascribed to that term in Section 4.8(a). 
 “Letter of Credit
Obligations” shall mean, at any time, the sum of (a) the aggregate undrawn face amounts of all Letters of Credit outstanding at such time, plus (b) the aggregate unreimbursed amount of all drawings under Letters of Credit.

 “Letter of Credit Request” shall have the meaning ascribed to that term in Section 3.2(a).

 “Lien” means (i) any judgment lien or execution, attachment, levy, distraint or similar legal process
and (ii) any mortgage, pledge, hypothecation, collateral assignment, security interest, encumbrance, lien, charge or deposit arrangement (other than a deposit to a Deposit Account in the ordinary course of business and not intended as security)
of any kind (including, without limitation, any conditional sale or other title retention agreement or lease in 
  

 - 31 - 







 
the nature thereof), any agreement to give any of the foregoing or any sale of receivables with recourse against the seller or any Affiliate of the seller. 

“Line of Credit” shall mean, at any time, an amount equal to the aggregate amount, at such time, of the Commitments.

 “Loan Documents” means, collectively, this Agreement, the Notes, each Security Document, each Subsidiary
Guaranty, the Intercreditor Agreement and all other agreements, instruments and documents executed in connection therewith, in each case as the same may at any time be amended, supplemented, restated or otherwise modified and in effect. 

“Loans” means amounts advanced by the Administrative Agent or a Lender pursuant to Section 2.1,
2.2(b), 2.2(c), 3.6 or any other provision of this Agreement. 
 “Management Fees” means
for any period, all management fees or similar compensation, excluding amounts representing reimbursement of out-of-pocket expenses incurred in the ordinary course of business in connection with the performance of management services. 

“Material Adverse Effect” means a material adverse effect on (a) the financial condition, assets, liabilities,
property, or results of operations of Company and its Subsidiaries taken as a whole, (b) the ability of Company or any of its Subsidiaries to perform its respective obligations under any Loan Document to which it is a party, (c) the
validity or enforceability of this Agreement, any Subsidiary Guaranty or any of the Security Documents or the rights or remedies of Administrative Agent, the Collateral Agent, the Co-Collateral Agents and the Lenders hereunder or thereunder or
(d) a substantial portion of the Collateral. 
 “Material Domestic Subsidiary” means any Domestic
Subsidiary of Company, of which either (i) the Consolidated Assets were more than 2% of Company’s Consolidated Assets as of the end of the most recently completed Fiscal Year of Company for which audited financial statements are available
or (ii) the consolidated total revenues of which were more than 2% of Company’s consolidated total revenues for such period; provided that any Domestic Subsidiary shall be deemed a Material Domestic Subsidiary if either (a) the
Consolidated Assets of such Domestic Subsidiary would cause the Consolidated Assets of all Domestic Subsidiaries which are not Material Domestic Subsidiaries to exceed 5% of Company’s Consolidated Assets or (b) the consolidated total
revenues of such Domestic Subsidiary would cause the consolidated total revenues of all Domestic Subsidiaries which are not Material Domestic Subsidiaries to exceed 5% of Company’s consolidated total revenues. 

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

 “Mortgage” has the meaning assigned to that term in Section 5.1(c) and shall also include any
mortgages or similar documents executed pursuant to Section 7.11. 
 “Mortgage Policies” has the
meaning assigned to that term in Section 5.1(c) and shall also include any mortgage policies or similar documents executed pursuant to Section 7.11. 

 

 - 32 - 







 “Mortgage Policy Endorsements” has the meaning assigned to that term in
Section 5.1(c)(iii). 
 “Mortgaged Fee Property” means any Mortgaged Property in which a Credit
Party has a fee title interest. 
 “Mortgaged Property” has the meaning assigned to that term in
Section 5.1(c) and shall also include any real property subject to a mortgage pursuant to Section 7.11. 

“MTBE” means methyl tertiary butyl ether. 

“MTBE Assets” means assets of the Company and its Subsidiaries consisting of (a) two dehydrogenation units and the
MTBE processing unit associated therewith, all situated on the Mortgaged Property in Houston, Harris County, Texas, (b) the MTBE processing unit situated on the Mortgaged Property in Port Neches, Jefferson County, Texas, (c) the related
structures, fixtures, buildings, equipment, easements, pipelines, piping, vehicles, rolling stock, trailers, MTBE product inventory and other tangible personal property reasonably related to such dehydrogenation or MTBE processing units and the
manufacture, purchase, sale or transportation of MTBE, and (d) any Capital Stock in any Permitted MTBE Joint Venture, but excluding Cash and Cash Equivalents and excluding any Capital Stock in an MTBE Subsidiary. 

“MTBE Subsidiaries” means Port Neches Fuels, LLC, a Delaware limited liability company, and so long as such Person owns
no material assets other than MTBE Assets, each other Subsidiary that owns no material assets other than MTBE Assets. 

“Multiemployer Plan” means any plan described in Section 3(37) or 4001(a)(3) of ERISA to which contributions are
or have, within the preceding six years, been made, or are or were, within the preceding six years, required to be made, by a Credit Party, any of its Subsidiaries or any of their ERISA Affiliates. 

“Multiple Employer Plan” means a Plan other than a Multiemployer Plan, which a Credit Party or any of its Subsidiaries
or of their respective ERISA Affiliates and at least one employer other than a Credit Party, any of its Subsidiaries or any of their ERISA Affiliates are contributing sponsors. 

“Net Offering Proceeds” means the proceeds received from (a) the issuance of any Capital Stock or (b) the
incurrence of any Indebtedness, in each case net of the actual liabilities for reasonably anticipated cash taxes in connection with such issuance or incurrence, if any, any underwriting, brokerage and other customary selling commissions incurred in
connection with such issuance or incurrence, and legal, advisory and other fees and expenses, including title and recording tax expenses, if any, incurred in connection with such issuance or incurrence. 

“Net Orderly Liquidation Value” shall mean (a) the “net orderly liquidation value”
determined by a valuation company reasonably acceptable to the Co-Collateral Agents after performance of an Inventory valuation to be done at the Co-Collateral Agents’ request and the Borrowers’ expense, less the amount estimated by
such valuation company for marshalling, 
  

 - 33 - 







 
reconditioning, carrying, and sales expenses designed to maximize the resale value of such Inventory and assuming that the time required to dispose of such Inventory is customary with respect to
such Inventory; or (b) if no such Inventory valuation has been requested by the Co-Collateral Agents, the value customarily attributed to Inventory in the appraisal industry for Inventory of similar quality and quantity, and similarly dispersed
(under similar and relevant circumstances under standard asset-based lending procedures), at the time of the valuation, less the amount customarily estimated in the appraisal industry at the time of any determination for marshalling, recondition,
carrying, and sales expenses designed to maximize the resale value of such Inventory and assuming that the time required to dispose of such Inventory is customary with respect to such Inventory. 

“Net Sale Proceeds” means, with respect to any Asset Disposition the aggregate cash payments received by Company or any
of its Subsidiaries from such Asset Disposition (including, without limitation, cash received by way of deferred payment pursuant to a note receivable, conversion of non-cash consideration, cash payments in respect of purchase price adjustments or
otherwise, but only as and when such cash is received) minus the direct costs and expenses incurred in connection therewith (including legal, accounting, and investment banking fees and sales commissions and the payment of the outstanding
principal amount of, premium, if any, and interest on any Indebtedness secured by a Lien senior to the Lien under the Security Documents on the assets so disposed of (other than hereunder) required to be repaid as a result of such Asset
Disposition); and minus any provision for taxes in respect thereof made in accordance with GAAP (including, without limitation, pursuant to any tax sharing agreement or attributable tax payment due to equity holders) to the extent that taxes
are payable in cash in the current year or the following year as a result of such Asset Disposition. 
 “Ninety-Day
Historical Availability” shall mean, as of any date of determination, the quotient obtained by dividing (a) the sum of each day’s Availability during the ninety consecutive day period immediately preceding such date of
determination by (b) ninety. 
 “Non-Recourse” means, with respect to any specified Person and the
Indebtedness of such Person: 
 (1)        neither Company nor any of
its Subsidiaries (A) provides credit support of any kind (including any undertaking, agreement or instrument that would constitute Indebtedness) for the Indebtedness of such Person other than a pledge of the Capital Stock of the Subsidiaries of
such Person, (B) is directly or indirectly liable as a guarantor or otherwise of the Indebtedness of such Person, or (C) constitutes the lender with respect to the Indebtedness of such Person; and 

(2)        in the case of an Unrestricted Subsidiary, no default on the
Indebtedness of such Person (including any rights that the holders of the Indebtedness may have to take enforcement action against an Unrestricted Subsidiary) would permit upon notice, lapse of time or both any holder of Indebtedness of Company or
any of its Subsidiaries to declare a default on such Indebtedness of Company or any of its Subsidiaries or cause the payment of such Indebtedness of Company or any of its Subsidiaries to be accelerated or payable prior to its stated maturity.

  

 - 34 - 







 “Non-U.S. Participant” means any Lender that is not a United States person
within the meaning of Code section 7701(a)(30). 
 “Note” means a note substantially in the form of Exhibit
2.1(b) and “Notes” means all of such Notes collectively. 
 “Notice Office” means the
office of Administrative Agent located at 60 Wall Street, New York, New York 10005, Attention: Commercial Loan Division, or such other office as Administrative Agent may hereafter designate in writing as such to the other parties hereto. 

“Notice of Borrowing” has the meaning assigned to that term in Section 2.2(a)(i). 

“Notice of Continuation” has the meaning assigned to that term in Section 4.3(a). 

“Notice of Conversion” has the meaning assigned to that term in Section 4.3(b). 

“Obligations” means all liabilities and obligations of Company and its Subsidiaries now or hereafter arising under this
Agreement and all of the other Loan Documents, whether for principal, interest, fees, expenses, indemnities or otherwise, and whether primary, secondary, direct, indirect, contingent, fixed or otherwise (including obligations of performance).

 “Operating Lease” of any Person, means any lease (including, without limitation, leases which may be
terminated by the lessee at any time) of any property (whether real, personal or mixed) by such Person, as lessee, which is not a Capitalized Lease. 

“Ordinary Equity Interests” means general and limited partnership interests in Company (or, after the merger described
in the last sentence of Section 8.3, limited liability company interests or units or common stock) having no greater rights to distributions and no greater voting rights from the partnership interests of Company in existence on the
Restatement Date. 
 “Organizational Documents” means, with respect to any Person, such Person’s articles
or certificate of incorporation, certificate of amalgamation, memorandum or articles of association, bylaws, partnership agreement, limited liability company agreement, joint venture agreement or other similar governing documents and any document
setting forth the designation, amount and/or relative rights, limitations and preferences of any class or series of such Person’s Capital Stock. 

“Other Hedging Agreement” means any foreign exchange contract, currency swap agreement, futures contract, commodity
agreements, option contract, synthetic cap or other similar agreement. 
 “Pari Passu Secured Derivative Transaction
Reserve” shall mean a reserve established by the Co-Collateral Agents from time to time in their Permitted Discretion in respect of any Approved Secured Derivative Transaction Liabilities, which reserve shall be in the amount of the
aggregate marked to market exposure of the applicable Borrower under the relevant Derivative Transaction as calculated from time to time by such Derivative Transaction 

 

 - 35 - 







 
counterparty in accordance with GAAP and notified to the Co-Collateral Agents (and acknowledged by the Administrative Agent and Co-Collateral Agents) (A) at the time such Derivative
Transaction is designated as an Approved Secured Derivative Transaction Liability and (B) from time to time thereafter, in each case, in accordance with Section 12.21 (it being understood and agreed that a reserve with respect to any
Derivative Transaction designated as an Approved Secured Derivative Transaction Liability (i) once established may only be decreased below the marked to market exposure of the applicable Borrower under the related Derivative Transaction with
the consent of the counterparty to such Derivative Transaction and (ii) may only be created or increased so long as the aggregate amount of all Pari Passu Secured Derivative Transaction Reserves does not exceed (or would not exceed following
creation of, or increase in, such reserve) $30,000,000 (or such greater amount with the consent of the Co-Collateral Agents and the Funds Administrator). 

“Participants” has the meaning assigned to that term in Section 12.8(b). 

“Payment” shall have the meaning ascribed to that term in Section 2.9(a)(i). 

“Payment Conditions” means, at any date of determination, 

 

	 	(a)	(i) there is no Unmatured Event of Default or Event of Default existing immediately before or after the proposed transaction, (ii) (A) the
Ninety-Day Historical Availability, (B) the Availability on the date of the proposed transaction and (C) in the case of any Dividend made with Permitted Unsecured Senior Debt Excess Proceeds, the projected daily average Availability
for the next succeeding four Fiscal Quarter period as demonstrated by the most recent Projections delivered (in each case, calculated on a Pro Forma Basis after giving effect to such Dividend or other transaction) each exceed the greater of
(x) 25% of the Total Commitments and (y) $25,000,000, (iii) Company shall be in compliance on a Pro Forma Basis (after giving effect to such Dividend or other transaction) with a minimum Consolidated Fixed Charge Coverage Ratio of at
least 1.15 to 1.00 as of the last day of the most recent Fiscal Quarter for which a Compliance Certificate has been delivered pursuant to Section 7.2(a) before and after giving effect to such action and, (iv) in the case of any Dividend
made with Permitted Unsecured Senior Debt Excess Proceeds, Company shall have a projected Consolidated Fixed Charge Coverage Ratio of at least 1.15 to 1.00 on a Pro Forma Basis (after giving effect to such Dividend or other transaction) for the next
succeeding four Fiscal Quarter period as demonstrated by the most recent Projections delivered; or 

  

	 	(b)	(i) there is no Unmatured Event of Default or Event of Default existing immediately before or after the proposed transaction and (ii) (A) Ninety-Day
Historical Availability and (B) Availability on the date of the proposed transaction, in each case, calculated on a Pro Forma Basis after giving effect to such Dividend or other transaction, each exceed the greater of (x) 50% of the Total
Commitments and (y) $50,000,000. 

  

 - 36 - 







 “Payment Office” means 60 Wall Street, New York, New York 10005, Attn:
Commercial Loan Division, or such other address as Administrative Agent may from time to time specify in accordance with Section 12.3. 

“PBGC” means the Pension Benefit Guaranty Corporation created by Section 4002(a) of ERISA. 

“Perfection Certificate” has the meaning assigned to such term in Section 5.1(b)(i). 

“Permitted Acquisition” means any Acquisition by Company or any of its Subsidiaries if all of the following conditions
are met: 
 (a)        no Event of Default or Unmatured Event of Default
has occurred and is continuing or would result therefrom; 

(b)        such acquisition has not been preceded by an unsolicited tender offer
for such Person by Company or any of its Affiliates; 
 (c)        all
transactions related thereto are consummated in compliance, in all material respects, with applicable Requirements of Law; 

(d)        in the case of any acquisition of any equity interest in any Person,
after giving effect to such acquisition such Person becomes a Wholly-Owned Subsidiary of Company which is not an Unrestricted Subsidiary (or with respect to any such Person that does not become a Wholly-Owned Subsidiary, such Person becomes a
Subsidiary of Company), and, to the extent required by Section 7.11(a), guarantees the Obligations hereunder and grants the security interest contemplated by such Section 7.11(c)); 

(e)        all actions, if any, required to be taken under
Section 7.11 with respect to any acquired or newly formed Subsidiary and its property are taken as and when required under Section 7.11; 

(f)        all unfunded commitments under any documents evidencing or governing
Indebtedness of any acquired or newly formed Subsidiary that is assumed pursuant to such Acquisition shall have been terminated; 

(g)        such assets are used for, or such Person is primarily engaged in, a
line of business permitted under Section 8.10; 

(h)        the aggregate consideration (including assumed Consolidated Debt) for
such Acquisitions is less than the then remaining Permitted Acquisition Basket; provided that the requirement set forth in this clause (h) shall not apply to the calculation of Permitted Acquisitions made in Section 8.7(o);

 (i)        (x) after giving effect thereto on a Pro Forma Basis there
is at least $100,000,000 of Availability, provided that the requirement set forth in this clause (i)(x) 
  

 - 37 - 







 
shall not apply to the calculation of Permitted Acquisitions in connection with Section 8.7(o) and (y) on or before the date of such acquisition and before Company or any of its
Subsidiaries enters into such acquisition or any agreement therefor (that is not contingent upon such acquisition being permitted under this Agreement), Company delivers to the Administrative Agent and Lenders audited financial statements of the
business or Person to be acquired, including income statements or statements of operations and, if available, balance sheet statements for at least the fiscal year or the four fiscal quarters then most recently ended and calculations supporting
compliance with clause (x) above; provided that Company shall not be required to deliver calculations supporting compliance with clause (x) above for Permitted Acquisitions in connection with Section 8.7(o); and

 (j)        any Foreign Investment component of such Acquisition is
permitted pursuant to Section 8.7(j). 
 “Permitted Acquisition Basket” means (a) the sum of
(i) $50,000,000 plus the amount of (ii) Unutilized Net Offering Proceeds at such time minus (b) the aggregate Investment (including assumed Consolidated Debt) for all Acquisitions after the Restatement Date. 

“Permitted Covenant” means (i) any periodic reporting covenant, (ii) any covenant restricting payments by
Company with respect to any securities of Company which are junior to the Permitted Preferred Stock, (iii) any covenant the default of which can only result in an increase in the amount of any redemption price, repayment amount, dividend rate
or interest rate, (iv) any covenant providing board observance rights with respect to Company’s board of directors and (v) any other covenant that does not adversely affect the interests of the Lenders (as reasonably determined by
Administrative Agent). 
 “Permitted Discretion” shall mean the Co-Collateral Agents’ judgment exercised
in good faith based upon their consideration of any factor which the Co-Collateral Agents believe in good faith: (a) will or could adversely affect the value of any Collateral, the enforceability or priority of the Collateral Agent’s Liens
thereon or the amount which the Agents, the Lenders or any Issuing Bank would be likely to receive (after giving consideration to delays in payment and costs of enforcement) in the liquidation of such Collateral or (b) suggests that any
collateral report or financial information delivered to the Co-Collateral Agents by any Person on behalf of any Borrower is incomplete, inaccurate or misleading in any material respect. In exercising such judgment, the Co-Collateral Agents may
consider such factors already included in or tested by the definition of Eligible Accounts Receivable or Eligible Inventory, as well as any of the following: (i) the changes in collection history and dilution with respect to the Accounts;
(ii) changes in demand for, pricing of, or product mix of Inventory; (iii) changes in any concentration of risk with respect to the respective Borrowers’ Accounts or Inventory; and (iv) any other factors that change the credit
risk of lending to any Borrower on the security of any Borrower’s Accounts or Inventory. 
 “Permitted Junior
Debt” means subordinated Indebtedness of Company that: 

(1)        is subordinated to the Loans pursuant to subordination provisions as
set forth on Schedule 1.1(c), with appropriate insertions in any blank items and conforming 
  

 - 38 - 







 
definitional changes (or more favorable to the Lenders) or otherwise reasonably acceptable to the Administrative Agent; 

(2)        has a final maturity date occurring at least one year after the
Expiration Date and has no scheduled principal or sinking fund payments prior to such date; 

(3)        is not guaranteed by any Subsidiary of Company except for any
guarantee by a Credit Party that is contractually subordinated in right of payment (to the same extent that Company’s direct obligations are so subordinated) to the prior payment in full in cash pursuant to the Subsidiary Guaranty of the
Obligations; and 
 (4)        is not convertible into any other
Securities except Capital Stock of Company (other than Disqualified Stock). 
 “Permitted Junior Debt
Documents” means all documents evidencing, guaranteeing or otherwise governing the terms of any Permitted Junior Debt. 

“Permitted Liens” has the meaning assigned to that term in Section 8.1. 

“Permitted MTBE Joint Venture” means a Person (together with its Subsidiaries, if any) organized by Company or an MTBE
Subsidiary and one or more third parties for the purpose, among other things, of utilizing the MTBE Assets regardless of whether such Person is a joint venture or a minority-owned Person provided that (i) such Person shall not be a Subsidiary
and (ii) all of the Capital Stock of such Person owned by Company and its Subsidiaries shall, promptly and in any event within sixty days after the formation thereof, be pledged as collateral to Collateral Agent for the benefit of the Secured
Creditors. 
 “Permitted Preferred Stock” means any preferred partnership interests of Company (or any equity
security of Company that is convertible or exchangeable into any preferred partnership interests of Company), so long as the terms of any such preferred partnership interests or equity security of Company: (i) do not provide any collateral
security, (ii) do not provide any guaranty or other support by Company or any of its Subsidiaries, (iii) do not contain any mandatory put, redemption, repayment, sinking fund or other similar provision occurring before the ninth
anniversary of the Restatement Date (other than any put exercisable upon death or disability to the extent Company may, at its option, issue a note that is permitted by in Section 8.2 as the sole repurchase consideration), (iv) do
not require the cash payment of dividends or interest, (v) do not contain any covenants other than Permitted Covenants, (vi) do not grant the holders thereof any voting rights except for (x) voting rights required to be granted to
such holders under applicable law, (y) limited customary voting rights on fundamental matters such as mergers, consolidations, sales of substantial assets, or liquidations involving Company and (z) other voting rights to the extent not
greater than or superior to those allocated to Ordinary Equity Interests on a per interest basis, and (vii) are otherwise reasonably satisfactory to Administrative Agent. 

“Permitted Real Property Encumbrances” means (i) as to any Mortgaged Property, those liens, encumbrances and other
matters affecting title to such Mortgaged Property and which are listed as exceptions in either (x) the Mortgage Policies in respect thereof or (y)

 

 - 39 - 







 
that certain Nothing Further Certificate dated March 31, 2010 issued by Charter Title Company with respect to the Mortgaged Property located in Jefferson County, Texas or that
certain Nothing Further Certificate dated April 2, 2010 issued by Charter Title Company with respect to the Mortgaged Property located in Harris County, Texas, (ii) as to any particular real property at any time, including, but
not limited to any Mortgaged Property, such easements, licenses, encroachments, covenants, rights of way, minor defects, irregularities or encumbrances on title which do not materially impair such real property for the purpose for which it is held
or used by the owner thereof, (iii) municipal and zoning ordinances, which are not violated in any material respect by the existing improvements or the present use made of the premises by the owner thereof, and (iv) Liens described in
clauses (i), (ii) and (iii) of the definition of Customary Permitted Liens. 
 “Permitted
Refinancing” means a replacement, renewal, refinancing or extension of any Indebtedness by the Person that originally incurred such Indebtedness, provided that: 

(i)        the principal amount of such Indebtedness (as determined as of the date of the
incurrence of the Indebtedness in accordance with GAAP) does not exceed the principal amount of the Indebtedness refinanced thereby on such date plus the amount of accrued and unpaid interest and fees (including call premiums) and expenses incurred
in connection with such replacement, renewal, refinancing or extension except to the extent such excess is applied as a mandatory prepayment of Term Loans; provided, that (a) in the case of a Permitted Refinancing of the Term Loan Credit
Facility, the principal amount may be increased to the extent permitted under Section 8.2(c) and (b) in the case of a Permitted Refinancing of Permitted Junior Debt and Indebtedness incurred pursuant to Section 8.2(l)
the principal amount may be increased to the extent such increase is applied as a mandatory prepayment of Term Loans; 

(ii)        the final maturity date of such indebtedness is not earlier than the final maturity
date of the Indebtedness being refinanced and the Weighted Average Life to Maturity of such Indebtedness is not less than the Weighted Average Life to Maturity of the Indebtedness being refinanced; 

(iii)        such Indebtedness is not secured by any assets other than those securing such
Indebtedness on the latter of the date such Indebtedness was originally incurred or the Restatement Date (and any improvements and accessions to such property and any replacements of or proceeds from any such property) and is not guaranteed by any
Credit Party or any Subsidiary of any Credit Party except to the extent such Person guaranteed such Indebtedness being refinanced; provided that Credit Parties may guarantee Indebtedness of Company; 

(iv)        in the case of Indebtedness which is in excess of $5,000,000, the covenants,
defaults and similar provisions applicable to such Indebtedness are, in the reasonable opinion of Administrative Agent, no more restrictive in any material respect than the provisions contained in the original documentation for such Indebtedness and
no more restrictive than the provisions contained in this Agreement and do not conflict in any material respect with the provisions of this Agreement and is otherwise upon terms and subject to documentation in form and substance reasonably
satisfactory to Administrative Agent; 
  

 - 40 - 







 (v)        if the Indebtedness being refinanced is
Permitted Junior Debt or is otherwise subordinated in right of payment to the Obligations, such Indebtedness is subordinated in right of payment to the Obligations on terms at least as favorable to the Lenders as those contained in the documentation
governing the Indebtedness being refinanced, as determined by Administrative Agent; and 

(vi)        in the case of Permitted Refinancing of the Term Loan Credit Facility, (1) such
Indebtedness is either unsecured, or if secured, is secured by Liens with the priority set forth in and subject to the Intercreditor Agreement, (2) the scheduled maturity date shall not be earlier than, nor shall any scheduled principal
payments in excess of 1% per annum commence, prior to the Expiration Date, and (3) the source of proceeds for such Permitted Refinancing shall not include the proceeds of the Loans unless the Payment Conditions have been satisfied.

 “Permitted Unsecured Senior Debt” shall have the meaning assigned to that term in
Section 8.2(n). 
 “Permitted Unsecured Senior Debt Excess Proceeds” means the amount of Net
Offering Proceeds of Permitted Unsecured Senior Debt remaining (if any) after such Net Offering Proceeds have been applied to repay the Term Loans under the Term Loan Credit Facility to the extent necessary such that, after giving effect to such
repayment, Company’s Senior Secured Net Leverage Ratio is less than 2.00 to 1.00 and the Total Leverage Ratio has been reduced to less than 4.25 to 1.00, in each case recomputed on a Pro Forma Basis as of the last day of the most recently
completed Fiscal Quarter for which financial statements have been delivered pursuant to Section 7.1 on a Pro Forma Basis. 

“Person” means an individual or a corporation, partnership, limited liability company, trust, incorporated or
unincorporated association, joint venture, joint stock company, Governmental Authority or other entity of any kind. 

“Plan” means any plan described in Section 4021(a) of ERISA and not excluded pursuant to Section 4021(b)
thereof, which is or has, within the preceding six years, been established or maintained, or to which contributions are being or have been, within the preceding six years, made, by Company, any of its Subsidiaries or any of their ERISA Affiliates.

 “Plan Administrator” has the meaning assigned to the term “administrator” in
Section 3(16)(A) of ERISA. 
 “Plan Sponsor” has the meaning assigned to the term “plan
sponsor” in Section 3(16)(B) of ERISA. 
 “Pledged Securities” means any of the Securities pledged
pursuant to any Security Document. 
 “Premises” means, at any time, any real estate then owned, leased or
operated by Company or any of its Subsidiaries. 
  

 - 41 - 







 “Primary Secured Obligations” means, on any date of determination,
(i) all outstanding principal of, and interest on, all Loans and all unreimbursed drawings under Letters of Credit issued (together with all interest accrued thereon), the aggregate face amounts of all Letters of Credit issued (or deemed
issued) hereunder and all Fees hereunder and (ii) Approved Secured Derivative Transaction Liabilities (other than indemnities, fees (including attorney’s fees) and similar obligations and liabilities) for which a Pari Passu Secured
Derivative Transaction Reserve has been established with respect thereto, in an aggregate amount not to exceed the lesser of (a) the then current aggregate amount of all Pari Passu Secured Derivative Transaction Reserves and
(b) $30,000,000. 
 “Prime Lending Rate” shall mean the rate which the Administrative Agent announces
from time to time as its prime lending rate, the Prime Lending Rate to change when and as such prime lending rate changes. The Prime Lending Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any
customer by the Administrative Agent, which may make commercial loans or other loans at rates of interest at, above or below the Prime Lending Rate. 

“Pro Forma Basis” means, (a) with respect to the preparation of pro forma financial statements for purposes of the
definition of Permitted Acquisitions and for any other purpose relating to a Permitted Acquisition or other Investment, pro forma on the basis that (i) any Indebtedness incurred or assumed in connection with such Acquisition or other Investment
was incurred or assumed on the first day of the applicable period, (ii) if such Indebtedness bears a floating interest rate, such interest shall be paid over the pro forma period at the rate in effect on the date of such Acquisition or other
Investment, and (iii) all income and expense associated with the assets or entity acquired in connection with such Acquisition or other Investment (other than the fees, costs and expenses associated with the consummation of such Acquisition or
other Investment) for the most recently ended four fiscal quarter period for which such income and expense amounts are available shall be treated as being earned or incurred by Company over the applicable period on a pro forma basis without giving
effect to any cost savings other than Pro Forma Cost Savings, (b) with respect to the preparation of a pro forma financial statement for any purpose relating to an Asset Disposition, pro forma on the basis that (i) any Indebtedness prepaid
out of the proceeds of such Asset Disposition shall be deemed to have been prepaid as of the first day of the applicable Test Period, and (ii) all income and expense (other than such expenses as Company, in good faith, estimates will not be
reduced or eliminated as a consequence of such Asset Disposition) associated with the assets or entity disposed of in connection with such Asset Disposition shall be deemed to have been eliminated as of the first day of the applicable Test Period
and (c) with respect to the preparation of pro forma financial statements for any purpose relating to an incurrence of Indebtedness, pro forma on the basis that (i) any Indebtedness incurred or assumed in connection with such incurrence of
Indebtedness was incurred or assumed on the first day of the applicable period, (ii) if such incurrence of Indebtedness bears a floating interest rate, such interest shall be paid over the pro forma period at the rate in effect on the date of
the incurrence of such Indebtedness, and (iii) all income and expense associated with the assets or entity acquired in connection with the incurrence of Indebtedness (other than the fees, costs and expenses associated with the consummation of
such incurrence of Indebtedness) for the most recently ended four fiscal quarter period for which such income and expense amounts are available shall be treated as 

 

 - 42 - 







 
being earned or incurred by Company over the applicable period on a pro forma basis without giving effect to any cost savings other than Pro Forma Cost Savings. For the avoidance of doubt,
calculations on a Pro Forma Basis shall give effect to all Permitted Acquisitions, Investments, Asset Dispositions and Indebtedness made, incurred or assumed on or prior to such date of determination. 

“Pro Forma Borrowing Base Certificate” shall have the meaning given such term in Section 2.4(d).

 “Pro Forma Cost Savings” means, with respect to the determination of Net Income on a Pro Forma Basis, such
cost savings as would be permitted pursuant to Rule 11.002 of Regulation S-X. 
 “Projections” means
(i) the financial projections, as delivered to Administrative Agent and the Lenders on or prior to the Restatement Date in accordance with Section 5.1(e)(vi), (ii) each of the financial projections delivered after the
Restatement Date pursuant to Section 7.2(d), and (iii) any additional financial projections delivered in connection with the certification of the Payment Conditions, in each case that are, at the time made, based on good faith
estimates and assumptions made by the management of Company, and do not include any statements or conclusions which, at the time made, are based upon or include information known to Company to be misleading or which fail to take into account
material information known to Company at such time regarding the matters reported therein. 
 “Proportionate
Share” shall, subject to Section 12.9(c)(ii), mean, with respect to any Lender, a fraction (expressed as a percentage), the numerator of which shall be the amount of such Lender’s Commitment and the denominator of which
shall be the Total Commitments or, if the Commitments have been terminated, a fraction the numerator of which shall be the principal amount of such Lender’s Exposure and the denominator of which shall be the aggregate amount of all Exposures of
all Lenders then outstanding. 
 “Register” has the meaning assigned to that term in
Section 12.13. 
 “Regulation D” means Regulation D of the Board as from time to time in effect
and any successor provision to all or a portion thereof establishing reserve requirements. 
 “Related Fund”
means, with respect to any Lender which is a Fund, any other Fund that is administered or managed by the same investment advisor of such Lender or by an Affiliate of such investment advisor. 

“Release” means any release, spill, emission, leaking, pumping, pouring, emptying, dumping, injection, deposit,
disposal, discharge, dispersal, escape, leaching or migration into the indoor or outdoor environment or into or out of any property of Company or its Subsidiaries, or at any other location, including any location to which Company or any of its
Subsidiaries has transported or arranged for the transportation of any Contaminants, including the movement of Contaminants through or in the air, soil, surface water, groundwater or property of Company or its Subsidiaries or at any other location,
including any location to which 
  

 - 43 - 







 
Company or any Subsidiary has transported or arranged for the transportation of any Contaminants. 

“Remedial Action” means actions required to (i) clean up, remove, treat or in any other way address Contaminants
in the indoor or outdoor environment, (ii) prevent or minimize or otherwise address the Release or substantial threat of a material Release of Contaminants so they do not migrate or endanger or threaten to endanger public health or welfare or
the indoor or outdoor environment; or (iii) perform pre-response or post-response studies and investigations and post-response monitoring and care or any other studies, reports or investigations relating to Contaminants. 

“Replaced Lender” has the meaning assigned to that term in Section 4.13(b). 

“Replacement Lender” has the meaning assigned to that term in Section 4.13(b). 

“Reportable Event” means a “reportable event” described in Section 4043(c) of ERISA or in the
regulations thereunder with respect to a Plan, excluding any event for which the thirty day notice requirement has been waived. 

“Required Lenders” shall mean, at any time, those Lenders (other than Defaulting Lenders) having more than 50% of the
aggregate amount of the Commitments (excluding the Commitments of Defaulting Lenders) or, if the Commitments shall have expired or been terminated, Lenders (other than Defaulting Lenders) having more than 50% of the aggregate amount of the
outstanding Exposures (excluding the Exposures of Defaulting Lenders). 
 “Requirement of Law” means, as to
any Person, any law (including common law), treaty, rule or regulation or judgment, decree, determination or award of an arbitrator or a court or other Governmental Authority, including without limitation, any Environmental Law, in each case
applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Responsible Financial Officer” means the Chief Financial Officer, Principal Accounting Officer, Controller or
Treasurer of Company, or, if being applied to a Subsidiary, of the applicable Subsidiary. 
 “Responsible
Officer” means any of the Chairman or Vice Chairman of the Board of Directors, the President, any Executive Vice President, any Senior Vice President, the Chief Financial Officer, any Vice President or the Treasurer of Company or, if being
applied to a Subsidiary, of the Subsidiary. 
 “Restatement Date” means April 29, 2010. 

“Restricted Payment” means (i) any Dividend (except Dividends (X) payable solely in Capital Stock or in
options, warrants or other rights to purchase such Capital Stock or (Y) payable to Company or a Subsidiary of Company), (ii) any purchase, redemption or acquisition or retirement for value of any Capital Stock of Company or any of its
Subsidiaries other than a Wholly-Owned Subsidiary, (iii) any payment of Management Fees to an Affiliate of 
  

 - 44 - 







 
Company or any of its Subsidiaries or (iv) any interest or principal payment on or purchase, defeasance, redemption, prepayment or other acquisition or retirement for value, prior to any
scheduled final maturity, of any Indebtedness that is subordinate or junior in right of payment to the Obligations (including any Permitted Junior Debt or any Permitted Refinancing thereof), other than, so long as no Event of Default or Unmatured
Event of Default exists, payment of Intercompany Indebtedness. 
 “Returns” has the meaning assigned to that
term in Section 6.9(a). 
 “S&P” means Standard & Poor’s Corporation or any
successor to the rating agency business thereof. 
 “Sale and Leaseback Transaction” means any arrangement,
directly or indirectly, whereby a seller or transferor shall sell or otherwise transfer any real or personal property and then or thereafter lease, or repurchase under an extended purchase contract, conditional sales or other title retention
agreement, the same or similar property. 
 “SEC” means the Securities and Exchange Commission or any
successor thereto. 
 “Secured Creditors” shall mean the Lenders, the Agents, the Issuing Banks, any Lender or
an Affiliate of a Lender providing Approved Secured Derivative Transaction Liabilities, any Lender or an Affiliate of a Lender providing Cash Management Services and shall in any event include any Person that is granted a security interest in any
Loan Document. 
 “Secured Obligations” means (i) all obligations (including, without limitation, all
Obligations and all obligations which, but for the automatic stay under Section 362(a) of the Bankruptcy Code, would become due) and liabilities of Borrowers and each Guarantor now existing or hereafter incurred under, arising out of, or
in connection with this Agreement or any other Loan Document to which any Borrower or any Guarantor is a party; (ii) all Approved Secured Derivative Transaction Liabilities (including obligations which, but for the automatic stay under
Section 362(a) of the Bankruptcy Code, would become due), whether now in existence or hereafter arising and the due performance and compliance by each Borrower and each Subsidiary Guarantor with all of the terms, conditions and
agreements contained therein; (iii) any and all sums reasonably advanced by the Administrative Agent or Collateral Agent in order to preserve the Collateral or preserve its security interest in the Collateral; (iv) in the event of any
proceeding for the collection or enforcement of the Obligations or Approved Secured Derivative Transaction Liabilities, after an Event of Default shall have occurred and be continuing, the reasonable expenses of taking, holding, preparing for sale
or lease, selling or otherwise disposing of or realizing on the Collateral, or of any exercise by the Collateral Agent of its rights hereunder, together with reasonable attorneys’ fees and court costs; (v) all amounts paid by Agents as to
which Agents have the right to reimbursement under Section 11.5 of this Agreement or Section 5(g) of the Security Agreement (or any comparable provision of another Security Document); and (vi) all Cash Management
Services Obligations (including, without limitation, all obligations which, but for the automatic stay under Section 362(a) of the Bankruptcy Code, would become due) of each Borrower and each Subsidiary Guarantor whether now in existence
or hereafter arising and the due performance and compliance by each Borrower and each Subsidiary Guarantor with all of the terms, conditions and agreements contained 

 

 - 45 - 







 
therein. It is acknowledged and agreed that the “Secured Obligations” shall include extensions of credit of the types described above, whether outstanding on the date of this Agreement
or extended from time to time after the date of this Agreement. 
 “Securities” means any stock, shares,
voting trust certificates, bonds, debentures, options, warrants, 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. 

“Securities Account” means an account to which a financial asset is or may be credited in accordance with an agreement
under which the Person maintaining the account undertakes to treat the Person for whom the account is maintained as entitled to exercise the rights that comprise the financial asset. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Security Agreement” has the meaning assigned to that term in Section 5.1(a)(iii). 

“Security Documents” means, collectively the Security Agreement, each Mortgage, the Perfection Certificate and all
other agreements, assignments, security agreements, instruments and documents executed in connection therewith, in each case as the same may at any time be amended, supplemented, restated or otherwise modified and in effect. For purposes of this
Agreement, “Security Documents” shall also include all security agreements, mortgages, pledge agreements, collateral assignments and other collateral documents in the nature of any thereof entered into by any Borrower or any of its
Subsidiaries after the date of this Agreement in favor of the Collateral Agent for the benefit of the Secured Creditors in satisfaction of the requirements of this Agreement, in each case as the same may at any time be amended, supplemented,
restated or otherwise modified and in effect. 
 “Senior Secured Net Leverage Ratio” shall mean, on any date
of determination, the ratio of (a) Consolidated Debt of Company and its Subsidiaries secured by a Lien as of such date of determination net of unrestricted (in accordance with GAAP) Cash and Cash Equivalents of Credit Parties as of such date of
determination subject to a perfected first priority lien in favor of Collateral Agent to (b) Consolidated EBITDA of the Company and its Subsidiaries for the Test Period most recently ended on or prior to such date, as modified by
Section 1.2(b) to the extent applicable. 
 “Settlement Date” shall have the meaning ascribed to
that term in Section 2.3(b)(i). 
 “Solvent” means, when used with respect to any Person, that
(i) the fair salable value of its assets is in excess of the total amount of its liabilities (including for purposes of this definition all liabilities, whether or not reflected on a balance sheet prepared in accordance with GAAP, and whether
direct or indirect, fixed or contingent, disputed or undisputed); (ii) it is able to pay its debts or obligations in the ordinary course as they mature; and (iii) it has capital sufficient to carry on its business and all business in which
it is about to engage. For purposes of 
  

 - 46 - 







 
this definition “debt” means any liability on a claim, and “claim” means (y) any right to payment, whether or not such a right is reduced to judgment, liquidated,
unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured (including all obligations, if any, under any Plan or the equivalent for unfunded past service liability, and any other unfunded
medical and death benefits) or (z) any right to an equitable remedy for breach of performance if such breach gives rise to a payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured,
unmatured, disputed, undisputed, secured or unsecured. In computing the amount of contingent or unliquidated liabilities at any time, such liabilities will be computed at the amount which, in light of all the facts and circumstances existing at such
time, represents the amount that can reasonably be expected to become an actual or matured liability. 
 “Start
Date” shall have the meaning assigned to that term in the definition of the term “Applicable Margin”. 

“Subsidiary” of any Person means any corporation, partnership (limited or general), limited liability company, trust or
other entity of which a majority of the stock (or equivalent ownership or equity interest) having voting power to elect a majority of the board of directors (if a corporation) or to select the trustee or equivalent managing body or controlling
interest, shall, at the time such reference becomes operative, be directly or indirectly owned or controlled by such Person or one or more of the other subsidiaries of such Person or any combination thereof. Unless otherwise qualified, all
references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of Company. Unless otherwise expressly provided an Unrestricted Subsidiary shall not be considered a
“subsidiary” for purposes of this Agreement. 
 “Subsidiary Guarantor” means any Material Domestic
Subsidiary or other Subsidiary of Company that becomes a party to a Subsidiary Guaranty. 
 “Subsidiary
Guaranty” has the meaning assigned to that term in Section 5.1(a)(ii). 
 “Super-Majority
Lenders” shall mean, at any time, those Lenders (other than Defaulting Lenders) having more than 66.67% of the aggregate amount of the Commitments (excluding the Commitments of Defaulting Lenders) or, if the Commitments shall have expired
or been terminated, Lenders (other than Defaulting Lenders) having more than 66.67% of the aggregate amount of the outstanding Exposures (excluding the Exposures of Defaulting Lenders). 

“Taxes” means any and all present and future taxes, duties, levies, imposts, deductions, assessments, charges or
withholdings, and any and all liabilities (including interest and penalties and other additions to taxes) with respect to the foregoing, but excluding Excluded Taxes. 

“Term Agent” means DB in its capacity as administrative agent for the lenders under the Term Loan Credit Facility, and
any successor agent in such capacity. 
  

 - 47 - 







 “Term Collateral Agent” means DB in its capacity as Collateral Agent (as
defined in the Term Loan Credit Facility) for the Secured Creditors (as defined in the Term Loan Credit Facility) under the Security Documents (as defined in the Term Loan Credit Facility), and any successor agent in such capacity. 

“Term Loan Credit Facility” means the Term Loan Agreement dated as of June 27, 2006 by and among Company, DB, as
administrative agent and the lenders from time to time party thereto, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof. 

“Term Loan Credit Facility Documents” means, collectively, the Term Loan Credit Facility and all agreements,
instruments and documents executed in connection therewith. 
 “Term Loans” means the Loans under the Term
Loan Credit Facility, collectively. 
 “Termination Event” means any of the following events: (i) a
Reportable Event with respect to any Plan; (ii) the withdrawal of any Credit Party, any of its Subsidiaries or any of their ERISA Affiliates from a Plan or a Multiple Employer Plan during a plan year in which such Credit Party, Subsidiary or
ERISA Affiliate was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or the cessation of operations which results in the termination of employment of twenty percent (20%) of Plan participants who are employees
of any Credit Party, any of its Subsidiaries or any of their ERISA Affiliates; (iii) the imposition of an obligation on any Credit Party, any of its Subsidiaries or any of their ERISA Affiliates under Section 4041 of ERISA to provide
affected parties written notice of intent to terminate, a Plan in a standard termination or a distress termination described in Section 4041 of ERISA; (iv) the institution by the PBGC or any similar foreign governmental authority of
proceedings to terminate a Plan or Foreign Pension Plan; (v) any event or condition which would or could reasonably be expected to constitute grounds under Section 4042 of ERISA (other than subparagraph (a)(4) of such Section) for the
termination of, or the appointment of a trustee to administer, any Plan; (vi) the appointment by a foreign governmental authority of a trustee to administer any Foreign Pension Plan in place of the existing administrator; (vii) the partial
or complete withdrawal of any Credit Party, any of its Subsidiaries or any of their ERISA Affiliates from a Multiemployer Plan or Foreign Pension Plan; (viii) receipt of a notice of reorganization or insolvency with respect to a Multiemployer
Plan pursuant to Section 4242 or 4245 of ERISA; or (ix) the termination of a Multiemployer Plan or a Multiple Employer Plan. 

“Test Period” means the four consecutive Fiscal Quarters of Company then last ended. 

“Title Company” means Partners Title Company, Charter Title Company (in each case, as issuing agents for Land America
Commonwealth Land Title) or any other title company reasonably acceptable to Collateral Agent. 
 “Total
Commitments” shall mean, at any time, the aggregate of the Commitments of all the Lenders in effect at such time, which in the aggregate shall not exceed $175,000,000, subject to increase as set forth in Section 2.10 and
decrease or termination in accordance with the terms of this Agreement. 
  

 - 48 - 







 “Total Exposure” shall mean, at any time, an amount equal to the sum of
(a) the Letter of Credit Obligations and (b) the principal amount of outstanding Loans. 
 “Total Leverage
Ratio” means, for any date of determination, the ratio of (a) Consolidated Debt of Company and its Subsidiaries of such date of determination to (b) Consolidated EBITDA of Company and its Subsidiaries for the Test Period most
recently ended on or prior to such date, as modified by Section 1.2(b) to the extent applicable. 

“Transaction” means and includes (i) each of the Credit Events occurring on the Restatement Date, (ii) such
other transactions as are contemplated by the Documents, and (iii) the payment of fees and expenses in connection with the foregoing. 

“Transaction Documents” means, collectively, the Term Loan Credit Facility Documents, and any agreement, document,
instrument and certificate executed and/or delivered after the date hereof pursuant to the terms of, or in connection with, any of the foregoing. 

“Transferee” has the meaning assigned to that term in Section 12.8(d). 

“Type” means any type of Loan, namely, a Base Rate Loan, or a Eurodollar Loan. For purposes hereof, the term
“Rate” shall include the Eurodollar Rate and the Base Rate. 
 “UCC” means the Uniform Commercial
Code as in effect from time to time in the relevant jurisdiction. 
 “Unmatured Event of Default” means an
event, act or occurrence which with the giving of notice or the lapse of time (or both) would become an Event of Default. 

“Unrestricted Subsidiary” means (i) any Subsidiary (with such term defined for purposes of this definition without
giving effect to the last sentence in the definition of such term) of Company that at or prior to the time of formation or acquisition thereof shall be designated an Unrestricted Subsidiary in an officers’ certificate signed by a Responsible
Financial Officer of Company and (ii) any Subsidiary of an Unrestricted Subsidiary, but, in each case, only to the extent that such Subsidiary: 

(1)        has no Indebtedness other than Indebtedness that is Non-Recourse to
Company and its Subsidiaries; 
 (2)        is not party to any
agreement, contract, arrangement or understanding with Company or any of its Subsidiaries unless the terms of any such agreement, contract, arrangement or understanding are not less favorable to Company or such Subsidiary than those that might be
obtained at the time from Persons who are not Affiliates of Company; and 

(3)        is a Person with respect to which neither Company nor any of its
Subsidiaries has any direct or indirect obligation (a) to subscribe for additional Capital Stock or (b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified levels of operating
results 
  

 - 49 - 







 If, at any time, any Unrestricted Subsidiary would fail to meet the preceding requirements
as an Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted Subsidiary for purposes of this Agreement and the other Loan Documents and any Indebtedness of such Subsidiary shall be deemed to be incurred by a Subsidiary of Company
as of such date and, if such Indebtedness is not permitted to be incurred as of such date under the provisions of Section 8.2 hereof, Company shall be in default of such Section. 

“Unused Line Fee” shall have the meaning ascribed to that term in Section 4.7. 

“Unutilized Net Offering Proceeds” means, at any time, the sum of (a) all Net Offering Proceeds from issuances of
Company’s Capital Stock (other than Disqualified Stock) since the Restatement Date and (without duplication) the amount of all net cash proceeds from capital contributions to Company from holders of its Capital Stock since the Restatement Date
plus (b) all Net Offering Proceeds from issuances of Permitted Junior Debt to the extent not required by the terms of the Term Loan Credit Facility to be used to prepay loans thereunder plus (c) Permitted Unsecured Senior Debt Excess
Proceeds minus (d) all Restricted Payments made since the Restatement Date with the proceeds described in clauses (a) through (c) above. 

“Value” shall mean, as determined by Co-Collateral Agents in their Permitted Discretion, (a) with respect to
Eligible Accounts Receivable, the gross face amount of Eligible Accounts Receivable less the sum of (i) sales, excise or similar taxes included in the amount thereof and (ii) returns, discounts, claims, credits, charges and allowances
(exclusive of those paid in cash to the extent included in dilution) of any nature at any time issued, owing, granted, outstanding, available or claimed with respect thereto and (b) with respect to Eligible Inventory, the lower of (i) cost
computed on an average cost basis in accordance with GAAP or (ii) market value. 
 “Voting Stock” means
any class of Capital Stock of a Person pursuant to which the holders thereof have, at the time of determination, the general voting power under ordinary circumstances to vote for the election of the Board of Directors of such Person (irrespective of
whether or not at the time any other class or classes will have or might have voting power by reason of the happening of any contingency). 

“Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained
by dividing (a) the then outstanding principal amount of such Indebtedness into (b) the total of the product obtained by multiplying (x) the amount of each then remaining installment, sinking fund, serial maturity or other required
payments of principal, including payment at final maturity, in respect thereof by (y) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment. 

“WFCF” means Wells Fargo Capital Finance, LLC. 

“Wholly-Owned Subsidiary” means, with respect to any Person, any Subsidiary of such Person, all of the outstanding
shares of capital stock of which (other than qualifying shares required to be owned by directors) are at the time owned directly or indirectly by such Person and/or one or more Wholly-Owned Subsidiaries of such Person. 

 

 - 50 - 







 “written” or “in writing” means any form of written
communication or a communication by means of telecopier device or authenticated telex, telegraph or cable. 
 The foregoing
definitions shall be equally applicable to both the singular and plural forms of the defined terms. The words “herein,” “hereof” and words of similar import as used in this Agreement shall refer to this Agreement as a whole and
not to any particular provision in this Agreement. References to “Articles”, “Sections”, “paragraphs”, “Exhibits” and “Schedules” in this Agreement shall refer to Articles, Sections, paragraphs,
Exhibits and Schedules of this Agreement unless otherwise expressly provided; references to Persons include their respective permitted successors and assigns or, in the case of governmental Persons, Persons succeeding to the relevant functions of
such persons; and all references to statutes and related regulations shall include any amendments of same and any successor statutes and regulations. 

1.2    Accounting Terms; Pro Forma Calculations; Financial Statements. 

(a)        All accounting terms used herein but not expressly defined in this Agreement
shall have respective meanings given to them in accordance with GAAP in the United States of America in effect on the date hereof. Except as otherwise expressly provided herein, all computations and determinations for purposes of determining
compliance with the financial requirements of this Agreement shall be made in accordance with GAAP in effect in the United States of America on the date hereof and on a basis consistent with the presentation of the financial statements and
projections referred to in Section 6.5(a) and Section 6.5(d). Notwithstanding the foregoing sentence, the financial statements required to be delivered pursuant to Section 7.1 shall be prepared in accordance with
GAAP in the United States of America as in effect on the respective dates of their preparation. Unless otherwise provided for herein, wherever any computation is to be made with respect to any Person and its Subsidiaries, such computation shall be
made so as to exclude all items of income, assets and liabilities attributable to any Person which is not a Subsidiary of such Person. For purposes of the financial terms set forth herein, whenever a reference is made to a determination which is
required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for the Borrowers and their Subsidiaries, such determination shall be made as if each Unrestricted Subsidiary where wholly-owned by a Person not an Affiliate
of the Borrowers. 
 (b)        For purposes of computing all financial ratios
hereunder (i.e. the Fixed Charge Coverage Ratio, Total Leverage Ratio, Senior Secured Net Leverage Ratio and any other ratio that may from time to time be computed hereunder) as of the end of any Test Period, all components of such ratios for the
applicable Test Period shall include or exclude, as the case may be, without duplication, such components of such ratios attributable to any business or material assets that have been acquired or disposed of by any Borrower or any of their
Subsidiaries (including through mergers or consolidations) after the first day of such Test Period and prior to the end of such Test Period on a Pro Forma Basis as determined in good faith by Company and certified to by Responsible Officer of
Company to the Administrative Agent. 
 (c)        If any changes in GAAP or the
application thereof from that used in the preparation of the financial statements referred to in Section 6.5(a) hereof occur after the 

 

 - 51 - 







 
Restatement Date and such changes result in, in the sole judgment of Administrative Agent, a meaningful change in the calculation of any financial covenants or restrictions set forth in this
Agreement, then the parties hereto agree to enter into and diligently pursue negotiations in order to amend such financial covenants and restrictions so as to equitably reflect such changes, with the desired result that the criteria for evaluating
the financial condition and results of operations of Company and its Subsidiaries shall be the same after such changes as if such changes had not been made. 

ARTICLE II 

LOANS 

2.1    Commitments; Delivery of Notes.  (a)  Subject to the terms and
conditions set forth in this Agreement, on the Restatement Date each Existing Lender will assign its Existing Commitments (and any outstanding loans under the Existing Credit Agreement) and each Lender, severally and not jointly, agrees to purchase
and assume on the Restatement Date its Proportionate Share of the Existing Commitments (and its Proportionate Share of any outstanding loans under the Existing Credit Agreement as of the Restatement Date and all rights related thereto) in an amount
not exceeding its Proportionate Share of the Total Commitments hereunder. Such assigned and assumed loans and commitments are hereby amended and restated in their entirety as Commitments and Loans to Borrower with the initial amount of each
Lender’s Commitment hereunder as of the Restatement Date being set forth opposite its name on Annex I attached hereto. Subject to the terms and conditions set forth in this Agreement, on and after the Restatement Date and to and
excluding the Expiration Date, each of the Lenders severally agrees to make from time to time revolving loans to the Borrowers hereunder (the “Loans”); provided that no such Loan shall be made for the account of any Borrower
if after giving effect to the making of such Loan and the simultaneous application of the proceeds thereof, (i) the aggregate amount of the Exposure of such Lender would exceed the Commitment of such Lender or (ii) the Total Exposure for
all Lenders would exceed the lesser of (A) the Total Commitments and (B) subject to Section 2.2(b), the Borrowing Base. Within the limits of the Line of Credit, and subject to the terms and conditions of this Agreement, the
Borrowers may from time to time borrow, prepay and reborrow under this Article II. 

(b)        At the request of any Lender through the Administrative Agent, the Borrowers
hereby agree to execute and deliver to each Lender a Note in the form of Exhibit 2.1(b) hereto to evidence the Loans to the Borrowers by such Lender. 

2.2    Borrowing Mechanics; Interim Advances. 

(a)        Except as provided in Sections 2.2(b), 2.3(b)
and 3.6(a), Borrowings shall be made on written notice (or telephonic notice promptly confirmed in writing) from the Funds Administrator to the Administrative Agent, given not later than 11:00 a.m. (New York City time) on the Business
Day on which a proposed Borrowing consisting of Base Rate Loans is requested to be made and on the third Business Day prior to the date of any proposed Borrowing consisting of Eurodollar Loans is requested to be made. 

 

 - 52 - 







 (i)        Each Notice of Borrowing shall be given
by, alternatively, telephone, facsimile or electronic e-mail transmission, and, if by telephone or electronic e-mail transmission, confirmed in writing on the same Business Day to the extent requested by Administrative Agent, substantially in the
form of Exhibit 2.2(a)(i) (the “Notice of Borrowing”). Each Notice of Borrowing shall be irrevocable (subject to Section 4.3(c)) by and binding on the Funds Administrator and the Borrowers. 

(ii)        The Funds Administrator shall notify the Administrative Agent in writing of the
names of the officers of the Funds Administrator authorized to request Loans on behalf of the Borrowers and specifying which of those officers are also, or, if none are, the other officers that are, authorized to direct the disbursement of Loans in
a manner contrary to standing disbursement instructions, and shall provide the Administrative Agent with a specimen signature of each such officer. In the absence of a specification of those officers who are authorized to vary standing disbursement
instructions, the Administrative Agent may assume that each officer authorized to request Loans also has such authority. The Administrative Agent shall be entitled to rely conclusively on the authority of such officers of the Funds Administrator to
request Loans on behalf of the Borrowers, or to vary standing disbursement instructions, until the Administrative Agent receives written notice to the contrary. The Administrative Agent shall have no duty to verify the authenticity of the signature
appearing on any Notice of Borrowing or other writing delivered pursuant to this Section 2.2(a) and, with respect to an oral or electronic e-mail request for Loans, the Administrative Agent shall have no duty to verify the identity of
any individual representing himself as one of the officers of the Funds Administrator authorized to make such request on behalf of the Borrowers. Neither the Administrative Agent nor any of the Lenders shall incur any liability to the Funds
Administrator or any of the Borrowers as a result of (A) acting upon any telephonic or electronic e-mail notice referred to in this Section 2.2(a) if the Administrative Agent believes in good faith such notice to have been given by
a duly authorized officer of the Funds Administrator or other individual authorized to request Loans on behalf of the Borrowers or to direct the disbursement thereof in a manner contrary to standing disbursement instructions, or (B) otherwise
acting in good faith under this Section 2.2(a) and an advance made and disbursed pursuant to any such telephonic or electronic e-mail notice shall be deemed to be a Loan for all purposes of this Agreement. 

(iii)        In its Notice of Borrowing, the Funds Administrator may request one or more
Borrowings on a single day. Each such Borrowing shall, unless otherwise specifically provided herein, consist entirely of Loans of the same Type and shall, in the case of a Borrowing of Eurodollar Loans or Base Rate Loans, be in an aggregate amount
for all Lenders of not less than $2,000,000 or an integral multiple of $500,000 in excess thereof. The right of the Funds Administrator to choose Eurodollar Loans is subject to the provisions of Section 4.3(c). 

(b)        (i)        In the event the Borrowers
are unable to comply with (A) the Borrowing Base limitation set forth in clause (ii)(B) of the proviso to Section 2.1(a) or (B) the conditions precedent set forth in Section 5.2 to a Credit Event, the Lenders
authorize the Administrative Agent, in its sole discretion, to make Loans (“Interim Advances”) to the Borrowers during the period commencing on the date the Administrative Agent first receives a Notice of Borrowing requesting an
Interim Advance until the earliest of (1) the twentieth (20th)
  

 - 53 - 







 
Business Day after such date, (2) the date the Borrowers are again able to comply with such Borrowing Base limitation and conditions precedent, or obtains an amendment or waiver with respect
thereto and (3) the date the Required Lenders instruct the Administrative Agent, or the Administrative Agent determines, to cease making Interim Advances (in each case, the “Interim Advance Period”). 

(ii)        The Administrative Agent shall not, in any event, (A) make any Interim Advance
during any Interim Advance Period if, after giving effect to such Interim Advance, the Total Exposure would exceed one hundred ten percent (110%) of the Total Exposure on the first day of such Interim Advance Period (calculated without giving
effect to Interim Advances made on such day) and (B) make any Interim Advance if, after giving effect to such Interim Advance, the Total Exposure would exceed the Line of Credit. 

(iii)        All amounts received by the Administrative Agent during an Interim Advance Period
on account of the Obligations, whether in the form of payments from any Borrower, collections on the Collateral or otherwise, shall, so long as any Interim Advances made during such Interim Advance Period are outstanding, be applied by the
Administrative Agent, first, to the repayment of such Interim Advances and, second, in accordance with Section 2.5(d). 

(c)        The failure of any Lender to make the Loan to be made by it as part of any
Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Loan on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Loan to be made by such other Lender
on the date of any Borrowing. 
 (d)        In addition to being evidenced, as
provided in Section 2.6, by the Borrowers’ Accounts, each Lender’s Loans and the Borrowers’ joint and several obligations to repay such Loans with interest in accordance with the terms of this Agreement shall be evidenced
by this Agreement, the records of such Lender and such Lender’s Note. The records of each Lender shall be prima facie evidence of such Lender’s Loans and accrued interest thereon and of all payments made in respect thereof. 

(e)        Each Lender shall be entitled to earn interest at the then applicable rate of
interest, calculated in accordance with Article IV, on outstanding Loans which it has funded to the Administrative Agent; provided that in the case of interest accrued but unpaid at the time of a Bankruptcy Event and interest
accruing thereafter and during a Bankruptcy Event, such Lender shall be entitled to receive only its Proportionate Share of amounts actually received by the Administrative Agent in respect of such interest; further provided that if any amount
received by the Administrative Agent in respect of such interest and distributed by it is thereafter recovered from the Administrative Agent, such Lender shall, upon request, repay to the Administrative Agent its Proportionate Share of the amount so
recovered to the extent received by it, but without interest (unless the Administrative Agent is required to pay interest on the amount recovered, in which case such Lender shall be required to pay interest at a like rate). 

(f)        Notwithstanding the obligation of the Funds Administrator to send written
confirmation of a Notice of Borrowing made by telephone or electronic e-mail transmission if and when requested by the Administrative Agent, in the event that the Administrative Agent 

 

 - 54 - 







 
agrees to accept a Notice of Borrowing made by telephone or electronic e-mail transmission, such Notice of Borrowing shall be binding on the Funds Administrator and each Borrower whether or not
written confirmation is sent by the Funds Administrator or requested by the Administrative Agent. The Administrative Agent may act prior to the receipt of any requested written confirmation, without any liability whatsoever, based upon telephonic or
electronic e-mail notice believed by the Administrative Agent in good faith to be from the Funds Administrator or its agents. The Administrative Agent’s records of the terms of any telephonic or electronic e-mail transmission Notices of
Borrowing shall be conclusive on the Funds Administrator, each Borrower and the Lenders in the absence of gross negligence, bad faith or willful misconduct on the part of the Administrative Agent in connection therewith. 

2.3    Settlements Among the Administrative Agent and the Lenders.  

(a)        Except as provided in Section 2.3(b), the Administrative Agent
shall give to each Lender prompt notice of each Notice of Borrowing by telecopy or facsimile transmission. No later than 3:00 p.m. (New York City time) (i) with respect to Base Rate Loans, on the date of receipt of each Notice of
Borrowing requesting a Base Rate Loan (unless such Notice of Borrowing specifies the Restatement Date as the date of Borrowing, in which case no later than 12:00 p.m. (New York City time) on the Restatement Date) and (ii) with
respect to Eurodollar Loans, no later than the third Business Day after the date on which notice of a request for a Eurodollar Loan has been received by Administrative Agent, each Lender will make available for the account of its Applicable Lending
Office, to the Administrative Agent at the address of the Administrative Agent set forth on Annex I, in immediately available funds, its Proportionate Share of such Borrowing requested to be made. Unless the Administrative Agent shall
have been notified by any Lender prior to the date of Borrowing that such Lender does not intend to make available to the Administrative Agent its portion of the Borrowing to be made on such date, the Administrative Agent may assume that such Lender
will make such amount available to the Administrative Agent on the Settlement Date and the Administrative Agent, in reliance upon such assumption, may but shall not be obligated to make available the amount of the Borrowing to be provided by such
Lender. If and to the extent such Lender shall not have so made available to the Administrative Agent its Proportionate Share on such date and the Administrative Agent shall have so made available to the Borrowers a corresponding amount on behalf of
such Lender, the Administrative Agent may recover such amount on demand from such Lender in accordance with Section 12.9. If such Lender does not pay such corresponding amount promptly upon the Administrative Agent’s demand
therefor, the Administrative Agent may promptly notify the Funds Administrator and the Borrowers shall immediately repay such corresponding amount to the Administrative Agent together with accrued interest thereon at the applicable rate or rates
provided in Sections 4.1, 4.2, and 4.6. 

(b)        Unless the Required Lenders have instructed the Administrative Agent to the
contrary, the Administrative Agent on behalf of the Lenders may but shall not be obligated to make Base Rate Loans under Section 2.2 without prior notice of the proposed Borrowing to the Lenders, subject to the following settlement
arrangements: 
 (i)        The amount of each Lender’s Proportionate Share of
Loans shall be computed weekly (or more frequently in the Administrative Agent’s discretion) and shall be 
  

 - 55 - 







 
adjusted upward or downward on the basis of the amount of outstanding Loans as of 5:00 P.M. (New York City time) on the last Business Day of the period specified by the Administrative Agent
(such date, the “Settlement Date”). The Administrative Agent shall deliver to each of the Lenders promptly after the Settlement Date a summary statement of the amount of outstanding Loans for such period. The Lenders shall transfer
to the Administrative Agent, or, subject to Section 12.9(c)(i), the Administrative Agent shall transfer to the Lenders, such amounts as are necessary so that (after giving effect to all such transfers) the amount of Loans made by each
Lender shall be equal to such Lender’s Proportionate Share of the aggregate amount of Loans outstanding as of such Settlement Date. During a Bankruptcy Event, amounts required to be transferred by the Lenders to the Administrative Agent shall,
instead of constituting Loans to the Borrowers, be in the form of participations purchased by the Lenders in the outstanding Loans of DB, acting as Administrative Agent. If the summary statement is received by the Lenders prior to 12:00 p.m.
(New York City time) on any Business Day, each Lender shall make the transfers described above in immediately available funds no later than 3:00 p.m. (New York City time) on the day such summary statement was received; and if such summary
statement is received by the Lenders after 12:00 p.m. (New York City time) on such day, each Lender shall make such transfers no later than 3:00 p.m. (New York City time) on the next succeeding Business Day. The obligation of each of the
Lenders to transfer such funds shall be irrevocable and unconditional and without recourse to or warranty by the Administrative Agent. Each of the Administrative Agent and the Lenders agrees to mark its books and records on the Settlement Date to
show at all times the dollar amount of its Proportionate Share of the outstanding Loans. 

(ii)        To the extent that the settlement described above shall not yet have occurred, upon
repayment of Loans by the Borrowers, the Administrative Agent may first apply such amounts repaid directly to the amounts made available by the Administrative Agent pursuant to this Section 2.3(b). 

(iii)        Because the Administrative Agent on behalf of the Lenders may be advancing and/or
may be repaid Loans prior to the time when the Lenders will actually advance and/or be repaid Loans, interest with respect to Loans shall be allocated by the Administrative Agent to each Lender and the Administrative Agent in accordance with the
amount of Loans actually advanced by and repaid to each Lender and the Administrative Agent and shall accrue from and including the date such Loans are so advanced to but excluding the date such Loans are either repaid by the Borrowers in accordance
with Section 2.4 or actually settled by the applicable Lender as described in this Section 2.3(b). 

2.4    Mandatory Payment; Reduction of Commitments.  

(a)        Except during an Interim Advance Period, the amount by which the Total
Exposure exceeds the Borrowing Base at any time shall be immediately due and payable upon any Borrower becoming aware of such overadvance without the necessity of any notice or demand. Repayments of such excess amounts shall be applied,
first, to the repayment of Loans, second, to the payment of outstanding reimbursement obligations with respect to Letters of Credit, and, third, to the securing, with cash or Cash Equivalents as provided in Section 10.1
(but without the requirement of any demand provided for in such paragraph), of the Letter of Credit 
  

 - 56 - 







 
Obligations (in each case to the extent the same are such by virtue of clause (a) of the definition thereof). 

(b)        (i)        On the Expiration Date, the
Commitment of each Lender shall automatically reduce to zero and may not be reinstated. 

(ii)        The Borrowers may reduce or terminate the Line of Credit at any time and from time to
time in whole or in part without premium or penalty (except as provided in Section 4.8(b)) by reducing or terminating the Commitments, any such reduction or termination to be pro rata on the amounts at the time of the Commitments;
provided that each such partial reduction must be in an amount not less than $5,000,000 (and in increments of $1,000,000 in excess thereof); and provided further that (A) if the Borrowers seek to reduce the Line of Credit to an
amount less than $50,000,000, then the Line of Credit shall at the option of the Administrative Agent be reduced to zero and this Agreement shall be terminated and (B) once reduced the amount of any such reductions in the Line of Credit may not
be reinstated. 
 (iii)        The amount by which the Total Exposure exceeds the
aggregate amount of the Commitments at any time shall be immediately due and payable without the necessity of any notice or demand. Repayments of such excess amounts shall be applied, first, to the repayment of Loans, second, to the
payment of outstanding reimbursement obligations with respect Letters of Credit, and, third, to the securing, with cash or Cash Equivalents as provided in Section 10.1 (but without the requirement of any demand provided for in
such paragraph), of the Letter of Credit Obligations (in each case to the extent the same are such by virtue of clause (a) of the definition thereof). 

(c)        Simultaneously with any Change of Control, the Commitments shall be
permanently reduced to zero and the Borrowers shall prepay, in full, the outstanding principal amount of any outstanding Loans (and cash collateralize any outstanding Letter of Credit Obligations in an amount equal to 105% of the Letter of Credit
Obligations), together with all accrued interest, fees, and other expenses incurred by Administrative Agent, the Issuing Bank or the Lenders as a result of such prepayment. 

(d)        On the Business Day on which any Asset Disposition occurs, the Funds
Administrator shall deliver to Co-Collateral Agents a Borrowing Base Certificate prepared on a pro forma basis (a “Pro Forma Borrowing Base Certificate”) giving effect to such Asset Disposition and setting forth the value of the
Eligible Inventory and Eligible Accounts Receivables previously included in the Borrowing Base and disposed of in such Asset Disposition. On such Business Day, Borrowers shall prepay the Loans in an amount equal to (i) if all of the conditions
specified in Section 5.2 are met at such time, the amount by which the Total Exposure exceeds the Borrowing Base as reflected in such Pro Forma Borrowing Base Certificate or (ii) if any condition specified in Section 5.2
is not met at such time, the amount by which the Borrowing Base is reduced as a result of such Asset Sale as reflected in such Pro Forma Borrowing Base Certificate. 

 

 - 57 - 







 2.5    Payments and Computations; Cash Dominion; Application of
Funds.  

(a)        (i)        The Borrowers shall,
subject, in the case of payments in respect of Letters of Credit, to Section 2.5(a)(ii), make each payment under the Loan Documents and under the Notes not later than 2:00 p.m. (New York City time) on the day when due in Dollars to
the Administrative Agent at its address designated in or pursuant to Section 12.3 in immediately available funds. The obligations of the Borrowers to the Lenders with respect to such payments shall be discharged by making such payments
to the Administrative Agent pursuant to this Section 2.5 or by the Administrative Agent, in its discretion, adding such payments to the principal amount of the Loans outstanding by charging such payments to the applicable Borrower’s
Account pursuant to Section 2.6. 

    (ii)        Amounts payable by the Borrowers in respect of any Letter of
Credit shall be made by the Borrowers to the Administrative Agent until the Funds Administrator shall have received notice from the Administrative Agent that the Administrative Agent has received payments equal to the aggregate amount of all
drawings thereunder, plus interest thereon from the date such drawings were disbursed at the L/C Interest Rate. 

(b)        During the existence of a Cash Dominion Liquidity Event, the Collateral Agent
shall give notice to any depositary bank or securities intermediary that is party to a Control Agreement that it is exercising sole dominion over the account subject to such Control Agreement (it being agreed that, if no Cash Dominion Liquidity
Event exists, Collateral Agent shall not give such notice and each Credit Party may direct the utilization of funds in each of its Deposit Accounts, Securities Accounts, investment accounts, other bank accounts and commodities accounts) and each
Borrower agrees that, upon the giving of such notice, during the existence of a Cash Dominion Liquidity Event, the Collateral Agent shall exercise sole dominion over such account. At the direction of Collateral Agent, after giving the notice
specified above, all available cash balances and cash receipts, including the then contents or then entire ledger balance of any such account, shall be transferred by the end of each Business Day by ACH or wire transfer into an account (the
“DB Loan Account”) maintained by the Administrative Agent at DB and applied in accordance with Section 2.5(d). 

(c)        All payments in respect of the principal amount of any Loan shall include
payment of accrued interest on the principal amount being repaid or prepaid, and all such payments shall be applied to the payment of interest before application to principal. 

(d)         (i)        After the occurrence of an
Event of Default and the exercise of remedies provided for in Section 2.5(b) or Section 10.1 (or after the Loans have automatically become due and payable in the case of an Event of Default described in
Section 10.1(e) or Section 10.1(f)) or the sale or other disposition of the Collateral through an enforcement action, all amounts received by the Administrative Agent for distribution hereunder or under the Loan Documents
shall, subject to Section 2.2(b)(iii), be distributed in the following order and, if to Lenders, according to each Lender’s Proportionate Share with respect to each category set forth below: 

first, to the payment of any Fees, Expenses or other Obligations due and payable to the Administrative Agent, the
Collateral Agent or any Co-
  

 - 58 - 







 
Collateral Agent acting in such capacity under any of the Loan Documents (regardless of whether a Bankruptcy Event then exists), including amounts advanced by the Administrative Agent on behalf
of the Lenders pursuant to Section 2.3(b); 
 second, to the extent proceeds remain after the
application pursuant to the preceding clause “first”, an amount equal to outstanding Primary Secured Obligations shall be paid to the Secured Creditors, with each Secured Creditor receiving an amount equal to such Primary Secured
Obligations owed to such Secured Creditor, or if the proceeds are insufficient to pay in full all such Primary Secured Obligations, the amount (expressed as a percentage) equal to a fraction the numerator of which is the then unpaid amount of such
Secured Creditor’s Primary Secured Obligations and the denominator of which is the then outstanding amount of all Primary Secured Obligations multiplied by the amount remaining to be distributed; 

third, to the extent proceeds remain after the application pursuant to the preceding clause “second”, an amount
equal to all other outstanding Secured Obligations shall be paid to the Secured Creditors, with each Secured Creditor receiving an amount equal to such other Secured Obligations owed to such Secured Creditor, or if the proceeds are insufficient to
pay in full all such other Secured Obligations, the amount (expressed as a percentage) equal to a fraction the numerator of which is the then unpaid amount of such Secured Creditor’s other Secured Obligations and the denominator of which is the
then outstanding amount of all other Secured Obligations multiplied by the amount remaining to be distributed; and 

fourth, the balance, if any, to the Person lawfully entitled thereto (including the applicable Credit Party or its
successors or assigns) or as a court of competent jurisdiction may direct. 

(ii)        Each Person receiving a payment from the Administrative Agent pursuant to
Section 2.5(d)(i) shall, for all purposes of this Agreement and the other Loan Documents, be deemed to have applied that payment in the order specified in Section 2.5(d)(i). 

(iii)        Notwithstanding anything herein to the contrary, each of the Secured Creditors by
their acceptance of the benefits hereof and of the Security Documents, agrees and acknowledges that if the Secured Creditors are to receive a distribution on account of undrawn amounts with respect to Letters of Credit issued (or deemed issued)
under this Agreement (which shall only occur after all outstanding Loans and unreimbursed drawings under Letters of Credit with respect to such Letters of Credit have been paid in full), such amounts shall be paid to the Administrative Agent under
this Agreement and held by it, for the equal and ratable benefit of the Lenders, as cash security for the repayment of Obligations owing to the Lenders as such. If any amounts are held as cash security pursuant to the immediately preceding sentence,
then upon the termination of any such outstanding Letter of Credit, and after the 
  

 - 59 - 







 
application of all such cash security related to such Letter of Credit to the repayment of all Obligations owing to the Lenders after giving effect to the termination of such Letter of Credit, if
there remains any excess cash, so long as no Event of Default exists, such excess cash shall be applied in accordance with Section 2.5(d)(i) of this Agreement; provided that if an Event of Default then
exists, and any amounts are held as cash security pursuant to the immediately preceding sentence, then upon the termination of all of the outstanding Letters of Credit, and after the application of all such cash security related to such
Letters of Credit to the repayment of all Obligations owing to the Lenders after giving effect to the termination of all such Letters of Credit, if there remains any excess cash, such excess cash shall be applied in accordance with
Section 2.5(d)(i) of this Agreement. 
 (e)        Whenever any
payment to be made pursuant to this Agreement shall be stated to be due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall be included in the computation of the
payment of interest hereunder or of the commitment fees hereunder, as the case may be. 

2.6        Maintenance of Account.  The Administrative Agent shall
maintain a separate account on its books and records in the name of the Funds Administrator (the “Borrowers’ Accounts”) in which each Borrower will be charged or credited with (a) the proceeds, if any, of each Loan
received by or for the account of such Borrower, (b) payments made to the Administrative Agent on account of the Obligations of such Borrower, whether from collection of proceeds of Collateral or otherwise, (c) the aggregate face amount of
all outstanding Letters of Credit (or an appropriate allocation thereof, if the Letters of Credit are issued for the direct benefit of more than one Borrower) issued for the benefit of such Borrower, and (d) all other Fees, Expenses and other
Obligations attributable to such Borrower as determined by Administrative Agent. The Administrative Agent will use its best efforts to give the Funds Administrator three days advance notice of such Fees, Expenses and other Obligations in reasonable
detail, provided that the failure to provide such notice shall not result in any liability of the Administrative Agent or affect any of the Administrative Agent’s rights hereunder. In no event shall prior recourse to any Accounts or
other Collateral be a prerequisite to the Administrative Agent’s right to demand payment of any Obligation upon its maturity. 

2.7        Statement of Account.  After the end of each month, the
Administrative Agent shall send the Funds Administrator a statement accounting for the charges, loans, advances and other transactions occurring among and between the Administrative Agent, the Lenders, the Funds Administrator and the Borrowers
during that month. The monthly statements shall, absent manifest error, be an account stated, which is final, conclusive and binding on the Borrowers; provided that any failure to so record any transaction or any error in so recording shall not
limit or otherwise affect any Borrower’s duty to pay the Obligations. 

2.8        Net Payments. 

(a)        All payments made by Borrowers hereunder or under any Loan Document shall be
made without setoff, counterclaim, or other defense. To the extent permitted by applicable law, all payments hereunder and under any Loan Document (including, without limitation, any payment of principal, interest, or fees) to, or for the benefit,
of any Person shall be 
  

 - 60 - 







 
made by Borrowers free and clear of and without deduction or withholding for, or account of, any tax, duty, levy, impost, deduction, charge, withholding, or assessment now or hereinafter imposed
by any Governmental Authority. 
 (b)        If any Borrower makes any payment
hereunder or under any Loan Document in respect of which it is required by law to deduct or withhold any Taxes, such Borrower shall increase the payment hereunder or under any such Loan Document such that after the reduction for the amount of Taxes
withheld (and any taxes withheld or imposed with respect to the additional payments required under this Section 2.8(b)) the amount paid to the Lender or Administrative Agent equals the amount that was payable hereunder or under any such
Loan Document without regard to this Section 2.8(b). To the extent any Borrower withholds any taxes, duties, levies, imposts, deductions, charges, withholdings, or assessments on payments hereunder or under any Loan Document, such
Borrower shall pay the full amount deducted to the relevant Governmental Authority within the time allowed for payment under applicable law and shall deliver to the Administrative Agent within 30 days after it has made payment to such authority a
receipt issued by such authority (or other evidence satisfactory to the Administrative Agent) evidencing the payment of all amounts so required to be deducted or withheld from such payment. 

(c)        If any Lender or Administrative Agent is required by law to make any payments
of any Taxes on or in relation to any amounts received or receivable hereunder or under any other Loan Document, or any Tax is assessed against a Lender or Administrative Agent with respect to amounts received or receivable hereunder or under any
other Loan Document, each Borrower will indemnify such person against (i) such Tax (and any reasonable counsel fees and expenses associated with such Tax) and (ii) any Taxes imposed as a result of the receipt of the payment under this
Section 2.8(c). A certificate prepared in good faith as to the amount of such payment by Lender or Administrative Agent shall, absent manifest error, be final, conclusive, and binding on all parties. 

(d)        (i)        To the extent permitted by
applicable law, each Lender that is a Non-U.S. Participant shall deliver to the Funds Administrator and Administrative Agent on or prior to the Restatement Date (or in the case of a Lender that is an Assignee, on the date of such assignment to such
Lender) two accurate and complete original signed copies of IRS Form W-8BEN, W-8ECI, or W-8IMY (or any successor or other applicable form prescribed by the IRS) certifying to such Lender’s entitlement to a complete exemption from, or a reduced
rate in, United States withholding tax on interest payments to be made under this Agreement or any Note. If a Lender that is a Non-U.S. Participant is claiming a complete exemption from withholding on interest pursuant to Section 881(c) of the
Code, the Lender shall deliver (along with two accurate and complete original signed copies of IRS Form W-8BEN) a certificate substantially in the form of Exhibit 2.8(d)(i) (any such certificate, a “Section 2.8(d)(i)
Certificate”). In addition, each Lender that is a Non-U.S. Participant agrees that from time to time after the Restatement Date, (or in the case of a Lender that is an Assignee, after the date of the assignment to such Lender), when a lapse
in time (or change in circumstances occurs) renders the prior certificates hereunder obsolete or inaccurate in any material respect, such Lender shall, to the extent permitted under applicable law, deliver to the Funds Administrator and
Administrative Agent two new and accurate and complete original signed copies of an IRS 
  

 - 61 - 







 
Form W-8BEN, W-8ECI, or W-8IMY (or any successor or other applicable forms prescribed by the IRS), and if applicable, a new Section 2.8(d)(i) Certificate, to confirm or establish the
entitlement to such Lender or Administrative Agent to an exemption from, or reduction in, United States withholding tax on interest payments to be made under this Agreement or any Note. 

(e)        Each Lender that is not a Non-U.S. Participant (other than any such Lender
which is taxed as a corporation for U.S. federal income tax purposes) shall provide two properly completed and duly executed copies of IRS Form W-9 (or any successor or other applicable form) to Funds Administrator and Administrative Agent
certifying to such Lender or Administrative Agent is exempt from United States backup withholding tax. To the extent that a form provided pursuant to this Section 2.8(e) is rendered obsolete or inaccurate in any material respects as
result of change in circumstances with respect to the status of a Lender or Administrative Agent, such Lender or Administrative Agent shall, to the extent permitted by applicable law, deliver to Funds Administrator and Administrative Agent revised
forms necessary to confirm or establish the entitlement to such Lender’s or Administrative Agent’s exemption from United States backup withholding tax. 

2.9        Sharing of
Payments.  (a)    (i)        If any Lender (including a Lender in its capacity as an Issuing Bank) shall obtain any payment (whether voluntary, involuntary, and whether
through the exercise of any right of set-off by virtue of its claim in any applicable bankruptcy, insolvency or other similar proceeding being deemed secured by a liability owed by it to any Credit Party, including a claim deemed secured under
Section 506 of the Bankruptcy Code, or otherwise) (each a “Payment”), on account of (A) the Loans made by it, (B) its L/C Participations or (C) any of the other Obligations due and payable to it in excess of its
Proportionate Share of payments on account of the Loans or L/C Participations or such other Obligations obtained by all the Lenders, such Lender shall forthwith purchase from the other Lenders such participations in the Loans made by them, in their
participation in Letters of Credit or their other such Obligations as shall be then due and payable as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them; however, provided that if
all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender shall be rescinded and each such Lender shall repay to the purchasing Lender the purchase price to the extent of such
recovery together with an amount equal to such Lender’s ratable share (according to the proportion of (1) the amount of such Lender’s required repayment to (2) the total amount so recovered from the purchasing Lender) of any
interest or other amount paid or payable by the purchasing Lender in respect to the total amount so recovered. Each Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 2.9 may, to
the fullest extent permitted by law, exercise all of its rights of payment (including the right of set-off) with respect to such participation as fully as if such Lender were the direct creditor of such Borrower in the amount of such participation.

 (ii)        For purposes of this Section 2.9, the
unreimbursed drawings under Letters of Credit issued by an Issuing Bank shall be deemed to constitute “Loans” made by such Issuing Bank, and such Issuing Bank agrees that it shall apply all Payments received by it in its capacity as an
Issuing Bank to the payment or the 
  

 - 62 - 







 
collateralization of the liabilities of the Borrowers to it that constitute unreimbursed drawings under Letters of Credit issued by it before applying them to any other liabilities due it.

 (b)        If an Issuing Bank is an Affiliate of a Lender, such Lender shall
cause such Affiliate to comply with the provisions of subsection (a) of Section 2.9 as fully as though such Affiliate were a Lender subject to such subsection. 

2.10        Increase in
Commitments.    (a)  So long as no Event of Default or Unmatured Event of Default has occurred and is continuing or would result therefrom, the Funds Administrator, on behalf of the Borrowers, shall have the
right at any time, and from time to time, to request an increase of the Total Commitments in an aggregate principal amount not to exceed $25,000,000 during the term of this Agreement. Any such requested increase shall be first made to all existing
Lenders on a pro rata basis. To the extent that the existing Lenders decline to increase their Commitments, or decline to increase their Commitments to the amount requested by the Funds Administrator, the Administrative Agent, in consultation with
the Funds Administrator, may arrange for existing Lenders (and/or other Persons to become a Lender hereunder) to issue new or additional commitments in an amount equal to the amount of the increase in the Total Commitments requested by the Funds
Administrator and not accepted by the existing Lenders (each such increase by either means, a “Commitment Increase”, and each such Person issuing, or Lender increasing, its Commitment, an “Additional Commitment
Lender”); provided, however, that (i) no Lender shall be obligated to provide a Commitment Increase as a result of any such request by the Funds Administrator, (ii) any Additional Commitment Lender which is not an existing Lender
shall be an Eligible Assignee and shall be subject to the approval of the Administrative Agent and the Funds Administrator (each such consent not to be unreasonably withheld), (iii) each Commitment Increase shall be in a minimum aggregate
amount of at least $5,000,000, (iv) no more than three Commitment Increases shall be permitted during the term of this Agreement, (v) no Unmatured Event of Default or Event of Default exists or would result therefrom, (vi) any such
Commitment Increase shall rank pari passu in right of payment and will benefit equally and ratably from the Liens under the Security Documents and shall be subject to the same terms and conditions as the existing Loans (including with respect to
pricing). 
 (b)        No Commitment Increase shall become effective unless and
until each of the following conditions have been satisfied: 
 (i)        the Borrowers,
the Administrative Agent and any Additional Commitment Lender shall have executed and delivered a joinder to the Loan Documents in such form as the Administrative Agent may reasonably require and the Lenders hereby authorize the Administrative Agent
to execute such joinder to the Loan Documents on behalf of Lenders; 
 (ii)        the
Borrowers shall have paid such fees and other compensation, if any, to the Additional Commitment Lenders as the Borrowers and each such Additional Commitment Lenders may agree; 

(iii)        the Borrowers shall have paid such arrangement fees to the Administrative Agent as
the Borrowers and the Administrative Agent may agree; 
  

 - 63 - 







 (iv)        the Borrowers shall have delivered to
the Administrative Agent and the Lenders an opinion or opinions, in form and substance reasonably satisfactory to the Administrative Agent, from counsel to the Borrowers reasonably satisfactory to the Administrative Agent (it being agreed that the
counsel that delivers the legal opinions on the Restatement Date shall be satisfactory to the Administrative Agent) and dated such date; 

(v)        to the extent requested by any Additional Commitment Lender or any existing Lender
increasing its Commitment, a promissory note will be issued at the Borrowers’ expense, to each such Lender and Additional Commitment Lender, to be in conformity with requirements of Section 2.1 (with appropriate modification) to the
extent necessary to reflect the new Commitment of such Lender and Additional Commitment Lender; 

(vi)        the Borrowers and the Additional Commitment Lenders shall have delivered such other
certificates, instruments, documents and agreements as the Administrative Agent may reasonably request; and 

(vii)        all representations and warranties contained herein and in the other Loan Documents
shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on the date such Commitment Increase is made (it being understood and agreed that (x) any representation or
warranty which by its terms is made as of a specified date shall be required to be true and correct in all material respects only as of such specified date and (y) any representation or warranty that is qualified as to “materiality,”
“Material Adverse Effect” or similar language shall be true and correct in all respects on such date). 

(c)        The Administrative Agent shall promptly notify each Lender as to the
effectiveness of each Commitment Increase (with each date of such effectiveness being referred to herein as a “Commitment Increase Date”), and at such time (i) the Total Commitments under, and for all purposes of, this
Agreement shall be increased by the aggregate amount of such Commitment Increases, (ii) Annex I shall be deemed modified, without further action, to reflect the revised Commitments of the Lenders, and (iii) this Agreement shall be
deemed amended, without further action, to the extent necessary to reflect such increased Total Commitments. 

(d)        In connection with Commitment Increases hereunder, the Lenders and the
Borrowers agree that, notwithstanding anything to the contrary in this Agreement, (i) the Borrowers shall, in coordination with the Administrative Agent, (A) prepay outstanding Loans of certain Lenders from the proceeds of Loans from
certain other Lenders (including the Additional Commitment Lenders), or (B) take such other actions as reasonably may be required by the Administrative Agent, in each case to the extent necessary so that all of the Lenders effectively
participate in each of the outstanding Loans pro rata on the basis of their Proportionate Shares (determined after giving effect to any increase in the Total Commitments pursuant to this Section 2.10), and (ii) the Borrowers shall
pay to the Lenders when due any costs of the type referred to in Section 4.11 in connection with any repayment and/or Loans required pursuant to preceding clause (i). The Administrative Agent and the Lenders hereby agree that the minimum
borrowing, pro rata borrowing and pro rata payments requirements contained elsewhere in this Agreement shall not apply to the transactions effected pursuant to this Section 2.10(d). Without limiting the

  

 - 64 - 







 
obligations of the Borrowers provided for in this Section 2.10, the Administrative Agent and the Lenders agree that they will use their commercially reasonable efforts to attempt to
minimize the costs of the type referred to in Section 4.11 which the Borrowers would otherwise occur in connection with the implementation of an increase in the Total Commitments. 

ARTICLE III 

LETTERS OF CREDIT 

3.1        Issuance of Letters of Credit.  (a)  The
Funds Administrator may from time to time request the Administrative Agent to direct an Issuing Bank to issue a Letter of Credit for the account of a Borrower. All such Letters of Credit shall be denominated in Dollars. No such request shall be
granted if, after such issuance: 
 (i)        (A) The Total Exposure would exceed
the lesser of (1) the Total Commitments and (2) the Borrowing Base or (B) Letter of Credit Obligations would exceed $30,000,000 or (C) any Lender’s Exposure would exceed its Commitment; 

(ii)        (A)    (1) any order, judgment or decree of any
Governmental Authority or arbitrator shall enjoin or restrain such Borrower from procuring, such Issuing Bank from issuing, or a Lender from acquiring an L/C Participation in, such Letter of Credit, or (2) any Requirement of Law applicable to
such Borrower, such Issuing Bank or a Lender or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such Borrower, such Issuing Bank or a Lender shall prohibit, or request that,
any such Person refrain from procuring, issuing or acquiring an L/C Participation in, such Letter of Credit, as applicable, or, from performing its obligations under such Letter of Credit or its L/C Participation thereunder, as applicable;

 (B)        any Requirement of Law applicable to such Issuing Bank or a Lender or any
request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Bank or a Lender shall impose upon such Issuing Bank or such Lender (1) any restriction or reserve or capital
requirement or (2) any cost or expense with respect to, in the case of such Issuing Bank, such Letter of Credit and, in the case of such Lender, such L/C Participation (for which such Issuing Bank or such Lender shall not otherwise be
compensated) not in effect as of the Restatement Date, and which such Issuing Bank or such Lender deems in good faith to be material to it; 

(iii)        any Lender is a Defaulting Lender, unless the Administrative Agent and Issuing Bank
have entered into satisfactory arrangements with the Borrowers to eliminate the Administrative Agent’s and such Issuing Bank’s risk with respect to such Lender, including cash collateralization of such Lender’s Proportionate Share of
Letter of Credit Obligations; or 
 (iv)        Administrative Agent has determined
that any of the conditions set forth in Section 5.2 or Section 12.9(c) shall not be satisfied. 
  

 - 65 - 







 (b)        The Administrative Agent may
assume, as to any Borrower, any Issuing Bank and any Lender, that none of the conditions specified in Section 3.1(a) are applicable as to such Person, unless the Administrative Agent shall have received a notice from such Person
specifically entitled “Notice under Section 3.1(a),” specifying the condition or conditions that are applicable to such Person. Any such notice shall continue in effect until the Administrative Agent shall have received from the
Person originally sending such notice a subsequent notice, entitled “Revocation of Notice under Section 3.1(a),” stating that the condition or conditions specified in such Person’s earlier notice are no longer applicable.

 3.2    Procedure for Issuance.  (a)  The Funds Administrator may
from time to time request the Administrative Agent to direct the issuance of a Letter of Credit by delivering to the Administrative Agent, with a copy to the applicable Issuing Bank, a Letter of Credit Request in the form of Exhibit 3.2(a) to
this Agreement, not later than 1:00 p.m. (New York City time) at least three Business Days (or such shorter period as may be agreed to by the Administrative Agent and the applicable Issuing Bank) in advance of the proposed date of issuance. Prior to
date of issuance or in conjunction with the submission of a Letter of Credit Request, the Funds Administrator shall provide to the Administrative Agent and the applicable Issuing Bank a precise description of the format of the Letter of Credit or
information and documents adequate to allow for the Issuing Bank to prepare the requested Letter of Credit and shall specify that the only drawings permitted under the Letter of Credit shall be sight drawings. The Issuing Bank shall not issue any
Letter of Credit until it has received authorization to do so from the Administrative Agent. Promptly after the issuance or amendment of any standby Letter of Credit, the Issuing Bank shall notify the Administrative Agent and the Funds
Administrator, in writing, of such issuance or amendment and such notice shall be accompanied by a copy of such issuance and amendment. Upon receipt of such notice, the Administrative Agent shall promptly notify the Lenders, in writing, of such
issuance or amendment, and if so requested by a Lender the Administrative Agent shall provide such Lender with copies of such issuance or amendment. With regards to Commercial Letters of Credit, the Issuing Bank shall on the first Business Day of
each week, provide to the Administrative Agent by facsimile a report detailing the daily aggregate outstanding Commercial Letters of Credit for the previous week. 

(b)        The transmittal by the Funds Administrator of each Letter of Credit Request
shall be deemed to be a representation and warranty made by each of the Borrowers, both at the time of such transmittal and at the time of the issuance of the requested Letter of Credit, that the Letter of Credit may be issued in accordance with and
will not violate any of the requirements of Section 3.1. 

3.3        Terms of Letters of Credit.  The Administrative Agent
shall not direct the issuance of any Letter of Credit unless: 
 (a)        if
it is a standby Letter of Credit, its term does not exceed one year from the date of issuance (except that any such Letter of Credit may provide for annual renewals on terms reasonably acceptable to the Administrative Agent and the Issuing Bank);

 (b)        if it is a Commercial Letter of Credit, its term does not exceed
180 days; 
  

 - 66 - 







 (c)        in the case of any Letter of
Credit, it expires no later than thirty Business Days prior to the Expiration Date. 

3.4        Lenders’
Participation.  (a)  Immediately upon issuance by any Issuing Bank of a Letter of Credit, each Lender shall be deemed to have irrevocably and unconditionally acquired from such Issuing Bank, without recourse or warranty,
an undivided interest and participation (an “L/C Participation”), to the extent of such Lender’s Proportionate Share, in such Issuing Bank’s rights to be paid the principal amount of, together with interest accrued on,
drawings under such Letter of Credit and in any security therefor or Guaranty pertaining thereto. 

(b)        (i)        Each Issuing Bank shall,
subject to Section 3.4(c), remit to the Administrative Agent, for the account of each Lender such Lender’s Proportionate Share of each payment of principal and interest (to the extent such interest does not exceed the L/C Interest
Rate) received by such Issuing Bank on account of any drawing under such Letter of Credit (A) with respect to which such Issuing Bank has delivered an L/C Notice of Drawing to the Administrative Agent during a Bankruptcy Event and
(B) that is received by such Issuing Bank on or after the date of such L/C Notice of Drawing; provided, that in the event that any such payment received by any Issuing Bank shall be required to be returned by such Issuing Bank,
such Lender shall return to such Issuing Bank the portion thereof previously distributed by it to the Administrative Agent, but without interest thereon (unless such Issuing Bank is required to pay interest on the amount returned, in which case such
Lender shall be required to pay interest at the same rate). 

(ii)        (A)    Payments required to be made by any Issuing Bank to the
Administrative Agent for the account of a Lender, together with interest thereon at the rate specified in Section 3.4(b)(ii)(B), shall be made to the Administrative Agent, if the amount in respect of which the payment is to be made to
the Administrative Agent is received by such Issuing Bank on or before 1:00 p.m. (New York City time) of such Issuing Bank’s time on a Business Day, on the day received and, if received after such time, on or before 11:00 a.m. (New
York City time) of such Issuing Bank’s time, on the next succeeding Business Day. 

(B)        Interest shall be payable by each Issuing Bank on amounts required to be paid by it
to the Administrative Agent pursuant to Section 3.4(b)(ii)(A) from the date such payments are due until such amounts are paid in full at, for the first three Business Days, the Federal Funds Rate, and, thereafter, the Base Rate.

 (c)        Until an Issuing Bank shall have received from a Lender, or the
Administrative Agent on behalf of such Lender, payment in full of the amount required to be paid by such Lender to such Issuing Bank pursuant to Section 3.6(b)(ii), such Issuing Bank may hold all amounts otherwise payable by it to the
Administrative Agent for the account of such Lender pursuant to Section 3.4(b)(i) as collateral to secure such Lender’s obligation to make such payment to it. 

3.5        Maturity of Drawings; Interest
Thereon.  (a)  Drawings under any Letter of Credit shall, notwithstanding anything to the contrary contained therein, mature and become due and payable, and shall be repaid to the Administrative Agent for the account of
the applicable Issuing Bank by the Borrowers in full, together with interest accrued thereon, from the date and 
  

 - 67 - 







 
at the rate specified in Section 3.5(b), on the date of the L/C Notice of Drawing in respect of such drawing. 

(b)        Borrowers shall, notwithstanding anything to the contrary contained in any
Letter of Credit, pay interest on the outstanding principal amount of each drawing under such Letter of Credit at a rate per annum equal to the rate set forth in Section 4.2 (the “L/C Interest Rate”) from the date such
drawing is disbursed by the applicable Issuing Bank to the date such drawing is reimbursed by the Borrowers. Interest on each such drawing shall be payable when such drawing shall be due (whether at maturity, by reason of acceleration or otherwise)
and, prior to such time, on demand. 
 3.6         Payment of Amounts Drawn
Under Letters of Credit; Funding of L/C Participations.  In the event of any drawing under any Letter of Credit, the applicable Issuing Bank may deliver an L/C Notice of Drawing to the Administrative Agent and the Administrative
Agent shall: 
 (a)        unless a Bankruptcy Event exists, treat each L/C
Notice of Drawing on the date such L/C Notice of Drawing is dated as a Notice of Borrowing requesting Base Rate Loans in a principal amount equal to the amount of such drawing plus interest on the amount of such drawing at the L/C Interest
Rate from the day such drawing was disbursed until the date of such L/C Notice of Drawing (unless such drawing was disbursed and repaid on the same day, in which case interest shall be payable for such day); and each such L/C Notice of Drawing shall
have the same force and effect as a Notice of Borrowing given by the Funds Administrator for and on behalf of the Borrowers, except that the conditions to borrowing specified in Section 2.2 and Section 5.2 (other than that a
Bankruptcy Event shall not exist) shall not apply; 

(b)        (i)        (A)   
      during a Bankruptcy Event, on the date of an L/C Notice of Drawing, notify (an “L/C Participation Funding Notice”) each Lender of the amount of such drawing, and of interest accrued thereon at the
L/C Interest Rate from the date specified in such L/C Notice of Drawing as the date such drawing was disbursed by the applicable Issuing Bank to the L/C Participation Funding Date and of such Lender’s Proportionate Share of such amount (an
“L/C Participation Funding Amount”). 

      (B)        The Administrative Agent
shall give an L/C Participation Funding Notice to each Lender not later than 3:00 p.m. (New York City time) time on the day the Administrative Agent receives an L/C Notice of Drawing, if such Notice of Drawing was received by it at or before
12:00 Noon (New York City time) on a Business Day and, if not, not later than 12:00 Noon (New York City time) on the next succeeding Business Day. 

(ii)         Each Lender shall make available to the Administrative Agent for the benefit of the
applicable Issuing Bank an amount equal to such Lender’s L/C Participation Funding Amount in immediately available funds, not later than 1:00 p.m. (New York City time) on the Business Day (the “L/C Participation Funding
Date”) next succeeding the date of the applicable L/C Participation Funding Notice, together with interest on such amount from the L/C 

 

 - 68 - 







 
Participation Funding Date until such amount is paid in full at, for the first three Business Days, the Federal Funds Rate and, thereafter, the Base Rate. 

(iii)        In the event that any Lender fails to make available to the Administrative Agent
such Lender’s L/C Participation Funding Amount as provided in Section 3.6(b)(ii), the Administrative Agent may, but shall not be obligated to, fund the amount of such Lender’s L/C Participation Funding Amount and recover such
amount on demand from such Lender in accordance with Section 12.9. 

(iv)        The Administrative Agent shall distribute to each Lender which has paid all amounts
payable by it under this Section 3.6(b) with respect to any Letter of Credit such Lender’s Proportionate Share of all payments subsequently received by the Administrative Agent from or for the account of the Borrowers in
reimbursement of the principal amount of all drawings thereunder plus interest thereon from the date such drawings were disbursed at the L/C Interest Rate, provided that in the event that any such payment received by the Administrative Agent
for the account of any Issuing Bank shall be required to be returned by the Administrative Agent, such Lender shall return to the Administrative Agent the portion thereof previously distributed by the Administrative Agent to it, but without interest
thereon (unless the Administrative Agent or such Issuing Bank is required to pay interest on the amount returned, in which case the Lender shall be required to pay interest at the same rate). 

(v)        If a Bankruptcy Event occurs at or after the time the Administrative Agent receives
an L/C Notice of Drawing and before the Administrative Agent has given the applicable L/C Participation Funding Notice, or, if it has given such notice, before all of the Lenders have funded their L/C Participation Funding Amounts, a Bankruptcy
Event shall be deemed to “exist”, and the provisions of Section 3.6(b) shall be applicable. 

3.7        Nature of Issuing Bank’s Duties.    In
determining whether to pay under any Letter of Credit, the Issuing Bank issuing such Letter of Credit shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered
and that they comply on their face with the requirements of such Letter of Credit. As between the Borrowers, any Issuing Bank and each Lender, the Borrowers assume all risks of the acts and omissions of any Issuing Bank (except to the extent such
action or omission constitutes gross negligence or willful misconduct as determined by a court of competent jurisdiction in a final and non-appealable decision), or misuse of any Letter of Credit by the respective beneficiaries of such Letter of
Credit. In furtherance and not in limitation of the foregoing, neither any Issuing Bank, the Administrative Agent nor any of the Lenders shall be responsible (a) for the validity, accuracy, genuineness or legal effects of any document submitted
by any party in connection with the application for and issuance of or any drawing honored under any Letter of Credit even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged, (b) for
the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign any Letter of Credit, or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or
ineffective for any reason, (c) for failure of the beneficiary of any Letter of Credit to strictly comply with conditions required in order to draw upon such Letter of Credit, (d) for errors, omissions, interruptions or delays in
transmission or delivery of any messages, by mail, cable, 
  

 - 69 - 







 
telegraph, telex, telecopy, facsimile or otherwise, whether or not they be in cipher, (e) for errors in interpretation of technical terms, (f) for any loss or delay in the transmission
or otherwise of an document required in order to make a drawing under any Letter of Credit, or of the proceeds thereof and (g) for the misapplication by the beneficiary of any Letter of Credit of the proceeds of any drawing honored under such
Letter of Credit. Any action taken or omitted to be taken by any Issuing Bank under or in connection with any Letter of Credit shall not create any liability on the part of the Administrative Agent or any Lender to any Borrower. 

3.8        Obligations Absolute.  The joint and several
obligations of the Borrowers to reimburse each Issuing Bank for drawings honored under a Letter of Credit issued by such Issuing Bank, together with interest as herein provided, and the obligations of the Lenders under Section 3.6 shall
be unconditional and irrevocable and shall be paid strictly in accordance with the terms of this Agreement, without any reduction or deduction whatsoever, including any reduction or deduction for any set-off, recoupment or counterclaim, under all
circumstances including the following circumstances: 
 (a)        any lack of
validity or enforceability of any Letter of Credit; 
 (b)        the existence
of any claim, set-off, defense or other right which any Borrower or any Affiliate of any Borrower may have at any time against a beneficiary or any transferee of any Letter of Credit (or any Persons for whom any such beneficiary or transferee may be
acting), the applicable Issuing Bank, any Lender or any other Person, whether in connection with this Agreement, the transactions contemplated herein or any unrelated transaction; 

(c)        any draft, demand, certificate or any other documents presented under any
Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect; 

(d)        the surrender or impairment of any security for the performance or observance
of any of the terms of any of the Loan Documents; 
 (e)        payment by the
applicable Issuing Bank under any Letter of Credit against presentation of a demand, draft or certificate or other document which does not comply with the terms of such Letter of Credit (provided that the foregoing shall not be construed to excuse
the Issuing Bank from liability to any Borrower to the extent of any direct damages (as opposed to consequential damages) suffered by any Borrower that are caused by the Issuing Bank’s failure to exercise care when determining whether drafts
and other documents under a Letter of Credit comply with the terms thereof); 

(f)        failure of any drawing under a Letter of Credit or any non-application or
misapplication by the beneficiary of the proceeds of any drawing; or 

(g)        the fact that an Event of Default or Unmatured Event of Default shall have
occurred and be continuing; 
  

 - 70 - 







 provided that no payment by a Borrower or a Lender to any Issuing Bank shall constitute a waiver or
release by such Borrower or such Lender of any right it may have against such Issuing Bank, including, in the case of a Borrower, a claim that such Issuing Bank acted with willful misconduct or gross negligence as determined by a court of competent
jurisdiction in determining whether documents presented under a Letter of Credit complied with the terms of such Letter of Credit. 

ARTICLE IV 

INTEREST, FEES AND EXPENSES 

4.1        Interest on Eurodollar Loans.  Subject to the
provisions of Section 4.6, each Eurodollar Loan shall bear interest on its unpaid principal amount at a rate per annum equal to the applicable Eurodollar Rate plus the Applicable Margin, as the same may be adjusted pursuant to the
provisions of the definition of Applicable Margin. Such interest shall be payable in arrears on each Interest Payment Date at the date of Conversion of such Eurodollar Loan (or a portion thereof) to a Base Rate Loan and at maturity of such
Eurodollar Loan, and after maturity of such Eurodollar Loan (whether by acceleration or otherwise), upon demand. The Administrative Agent upon determining the Eurodollar Rate for any Interest Period shall promptly notify the Funds Administrator and
the Lenders by telephone (confirmed promptly in writing) or in writing thereof. Each determination by the Administrative Agent of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. 

4.2        Interest on Base Rate Loans.  Subject to the provisions
of Section 4.6, each Base Rate Loan shall bear interest on its unpaid principal amount at a rate per annum equal to the Base Rate plus the Applicable Margin, as the same may be adjusted pursuant to the provisions of the definition
of Applicable Margin. Such interest shall be payable in arrears on each Interest Payment Date, at the date of conversion of such Base Rate Loan (or a portion thereof) to a Eurodollar Loan and at maturity of such Base Rate Loan, and after maturity of
such Base Rate Loan (whether by acceleration or otherwise), upon demand. In the event of any change in said Base Rate, the rate hereunder shall change, effective as of the day the Base Rate changes. Each determination by the Administrative Agent of
any interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. 

4.3        Notice of Continuation and Notice of Conversion. 

(a)        With respect to any Borrowing consisting of Eurodollar Loans, the Borrowers
may (so long as no Event of Default or Unmatured Event of Default has occurred and is continuing, subject to the provisions of Section 4.3(c)), elect to maintain such Borrowing or any portion thereof as consisting of Eurodollar Loans by
selecting a new Interest Period for such Borrowing, which new Interest Period shall commence on the last day of the immediately preceding Interest Period. Each selection of a new Interest Period (a “Continuation”) shall be made by
notice given not later than 11:00 a.m. (New York City time) on the third Business Day prior to the date of any such Continuation relating to Eurodollar Loans, by the Funds Administrator to the Administrative Agent. Such notice by the Funds
Administrator of a 
  

 - 71 - 







 
Continuation (a “Notice of Continuation”) shall be in substantially the form of Exhibit 4.3(a), specifying (i) the date of such Continuation, (ii) the
aggregate amount of Loans subject to such Continuation and (iii) the duration of the selected Interest Period, all of which shall be specified in such manner as is necessary to comply with all limitations on Loans outstanding hereunder. The
Borrowers may elect to continue more than one Borrowing consisting of Eurodollar Loans by combining such Borrowings into one Borrowing and selecting a new Interest Period pursuant to this Section 4.3(a); provided that each of the
Borrowings so combined shall consist of Loans having Interest Periods ending on the same date. If the Borrowers shall fail to select a new Interest Period for any Borrowing consisting of Eurodollar Loans in accordance with this
Section 4.3(a), such Loans will automatically, on the last day of the then existing Interest Period therefor, Convert into Base Rate Loans. 

(b)        The Borrowers may on any Business Day (so long as no Event of Default or
Unmatured Event of Default has occurred and is continuing), upon notice (each such notice, a “Notice of Conversion”) given by the Funds Administrator to the Administrative Agent, and subject to the provisions of
Section 4.3(c), Convert the entire amount of or a portion of all Loans of one Type comprising the same Borrowing into Loans of another Type; provided however that any Conversion of any Eurodollar Loans into Loans of another Type
shall be made on, and only on, the last day of an Interest Period for such Eurodollar Loans and, upon Conversion of any Loans into Loans of another Type, the Borrowers shall pay accrued interest to the date of Conversion on the principal amount
Converted. Each such Notice of Conversion shall be given not later than 11:00 a.m. (New York City time) on the date of any proposed Conversion into Base Rate Loans and on the third Business Day prior to the date of any proposed Conversion into
Eurodollar Loans. Subject to the restrictions specified above, each Notice of Conversion shall be in substantially the form of Exhibit 4.3(b) hereto specifying (i) the requested date of such Conversion, (ii) the Type of Loans
to be Converted, (iii) the portion of such Type of Loan to be Converted, (iv) the Type of Loan such Loans are to be Converted into and (v) if such Conversion is into Eurodollar Loans, the duration of the Interest Period of such Loan.
Each Conversion shall be in an aggregate amount for the Loans of all Lenders of not less than $2,000,000 or any integral multiple of $500,000 in excess thereof. The Borrowers may elect to Convert the entire amount of or a portion of all Loans of one
Type comprising more than one Borrowing into Loans of another Type by combining such Borrowings into one Borrowing consisting of Loans of another Type; provided that if the Borrowings so combined consist of Eurodollar Loans, such Loans shall
have Interest Periods ending on the same date. 
 (c)        Notwithstanding
anything contained in subsections (a) and (b) above or elsewhere in this Agreement to the contrary, 

(i)        (1)        if the Administrative Agent is
unable to determine the Eurodollar Rate for Eurodollar Loans comprising any requested Borrowing, Continuation or Conversion, the right of the Borrowers to select or maintain Eurodollar Loans for such Borrowing or any subsequent Borrowing shall be
suspended until the Administrative Agent shall notify the Funds Administrator and the Lenders that the circumstances causing such suspension no longer exist, and each Loan comprising such Borrowing shall be a Loan of a Type that is unaffected by
such circumstances, as selected by the Borrowers pursuant to this Agreement; 
  

 - 72 - 







 (2)        if a Lender shall, at any time, notify
the Administrative Agent that, because of a change in applicable law after the date such Lender became a Lender, it has become unlawful for such Lender to participate in any requested Borrowing, Continuation or Conversion of Eurodollar Loans, to
continue its Eurodollar Loans, or to comply with its obligations hereunder in respect thereof, that Lender’s obligation to participate in any such requested Borrowing, Continuation or Conversion shall be discharged by such Lender’s making
its participation therein in the form of a Base Rate Loan, and any of such Lender’s Eurodollar Loans not otherwise being converted shall be converted into Base Rate Loans on the earlier of (1) the last day of the applicable Interest Period
and (2) the last day such Lender may lawfully continue to maintain Eurodollar Loans, provided that any Base Rate Loan that, but for this clause (B), would have been a Eurodollar Loan shall constitute part of the Borrowing of which
any such Eurodollar Loan was or would have been a part; 
 (ii)        if the Required
Lenders shall, at least one Business Day before the date of any requested Borrowing, Continuation or Conversion, notify the Administrative Agent that the Eurodollar Rate for Loans comprising such Borrowing will not adequately reflect the cost to
such Lenders of making or funding their respective Loans for such Borrowing, the right of the Borrowers to select Eurodollar Loans for such Borrowing shall be suspended until the Administrative Agent shall notify the Funds Administrator and the
Lenders that the circumstances causing such suspension no longer exist, and each Loan comprising such Borrowing shall be a Loan of a Type that is unaffected by such circumstances, as selected by the Borrowers pursuant to this Agreement; and

 (iii)        there shall not be, at any one time, more than six Interest Periods in
effect with respect to Eurodollar Loans. 
 (d)        Each Notice of
Continuation and Notice of Conversion shall be irrevocable (subject to Section 4.3(c)) by and binding on the Borrowers. 

4.4        Computation of Interest and Fees.  Interest on all
Loans and fees payable hereunder shall be computed on the basis of the actual number of days elapsed over a year of 360 days; provided that interest on all Base Rate Loans shall be computed on the basis of the actual number of days elapsed over a
year of 365 or 366 days, as the case may be. Each determination of an interest rate by Administrative Agent pursuant to any provision of this Agreement shall be conclusive and binding on Company and its Subsidiaries and the Lenders in the absence of
manifest error. Administrative Agent shall, at any time and from time to time upon request of Company, deliver to Company a statement showing the quotations used by Administrative Agent in determining any interest rate applicable to Loans pursuant
to this Agreement. 
 4.5        Interest Periods.  At
the time it gives any Notice of Borrowing or a Notice of Conversion or Notice of Continuation with respect to Eurodollar Loans, Borrowers shall elect, by giving Administrative Agent written notice, the interest period (each an “Interest
Period”) which Interest Period shall, at the option of the Borrowers, be one, two, three, six months or if available to each of the applicable Lenders (as determined by each such applicable Lender in its sole discretion) any other period
acceptable to the Administrative Agent; provided that: 
  

 - 73 - 







 (a)        all Eurodollar Loans comprising a
Borrowing shall at all times have the same Interest Period; 
 (b)        the
initial Interest Period for any Eurodollar Loan shall commence on the date of such Borrowing of such Eurodollar Loan (including the date of any conversion thereto from a Loan of a different Type) and each Interest Period occurring thereafter in
respect of such Eurodollar Loan shall commence on the last day of the immediately preceding Interest Period; 

(c)        if any Interest Period relating to a Eurodollar Loan begins on a day for which
there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of such calendar month; 

(d)        if any Interest Period would otherwise expire on a day which is not a Business
Day, such Interest Period shall expire on the next succeeding Business Day; provided, however, that if any Interest Period for a Eurodollar Loan would otherwise expire on a day which is not a Business Day but is a day of the month
after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; 

(e)        no Interest Period may be selected at any time when an Unmatured Event of
Default or Event of Default is then in existence; and 
 (f)        no Interest
Period shall extend beyond the Expiration Date. 
 4.6        Interest
After Event of Default.  Notwithstanding the rates of interest specified herein, (i) effective after the occurrence and continuance of any Event of Default (other than the failure to pay Obligations when due) and notice
from Administrative Agent or the Required Lenders and for so long thereafter as any such Event of Default shall be continuing or not waived, and (ii) effective immediately upon any failure to pay any Obligations or any other amounts due under
any of the Loan Documents when due, whether by acceleration or otherwise, the principal balance of each Loan then outstanding and, to the extent permitted by applicable law, any interest payment on each Loan not paid when due or other amounts then
due and payable shall bear interest payable on demand, after as well as before judgment at a rate per annum equal to the rate at which the Loans are bearing interest pursuant to Section 4.2 above, plus two percent (2.00%). In the
event of any change in said applicable interest rate, the rate hereunder shall change, effective as of the day the applicable interest rate changes, so as to remain two percent (2.00%) per annum above the then applicable interest rate.

 4.7        Unused Line Fees.  The Borrowers shall pay
to the Administrative Agent, for the ratable benefit of the Lenders, a non-refundable fee (the “Unused Line Fee”) equal to (i) if the average daily undrawn portion of the Line of Credit is greater than or equal to 50% of the
Total Commitments, 0.75% per annum and (ii) if the average daily undrawn portion of the Line of Credit is less than 50% of the Total Commitments, 0.50% per annum, in each case of the unused portion of the Line of Credit, determined on
a quarterly basis as of the last day of each Fiscal Quarter using the average daily historical utilization for the Fiscal Quarter ending on such date; provided that, for purposes of this Section 4.7, any outstanding Letter of
Credit Obligations shall constitute usage of the Line of Credit. The Unused Line Fee shall accrue daily from the Restatement Date until the Expiration Date, and shall be due and payable quarterly in arrears, on

  

 - 74 - 







 
the first Business Day of each Fiscal Quarter, beginning on July 1, 2010, and ending on the Expiration Date. 

4.8        Letter of Credit
Fees.  (a)  The Administrative Agent shall be entitled to charge to the account of the Funds Administrator on the first Business Day of each Fiscal Quarter, beginning on July 1, 2010 and ending on the
Expiration Date, a fee for the ratable benefit of the Lenders for distribution to each Lender, and Funds Administrator shall pay directly to the Administrative Agent for distribution to each Lender, in an amount equal to the Applicable Margin for
Eurodollar Loans on the daily undrawn amounts of all outstanding Letters of Credit during the immediately preceding Fiscal Quarter; provided that from the date an Event of Default occurs, and at all times thereafter until the earlier of the
date upon which (A) all Obligations have been paid and satisfied in full and (B) such Event of Default shall not be continuing, such fee shall be equal to two (2%) percent per annum above the Applicable Margin, otherwise applicable
hereunder and shall be payable on demand (such fees, the “Letter of Credit Fees”); and 

(b)        The Administrative Agent shall be entitled to charge to the account of the
Funds Administrator on the first Business Day of each Fiscal Quarter, beginning on July 1, 2010 and ending on the Expiration Date, a fee for the benefit of DB, as Issuing Bank equal to the greater of (x) $500 per annum and
(y) 0.125% per annum with respect to all Letters of Credit on the daily undrawn amounts outstanding during the immediately preceding Fiscal Quarter (the “Fronting Fee”). In addition to the Fronting Fee, the Administrative
Agent shall be entitled to charge the account of the Funds Administrator, as and when incurred, the customary charges, fees, costs and expenses of DB, as Issuing Bank for the issuance, transfer, amendment or payment of any Letter of Credit (the
“Issuing Bank Fees”). If the Issuing Bank is not DB, the Funds Administrator shall pay Fronting Fees and Issuing Bank Fees directly to such Issuing Bank. Each determination of the Fronting Fee and Issuing Bank Fees shall be made by
the Issuing Bank and shall be conclusive and binding for purposes of Administrative Agent’s right to collect and distribute such fees, absent manifest error. 

4.9        No Fees to Defaulting Lender.  Anything herein to the
contrary notwithstanding, during such period as a Lender is a Defaulting Lender under clauses (i) or (iii)(x) of such defined term, such Defaulting Lender will not be entitled to any fees accruing during such period pursuant to either
Section 4.7 or, if the Borrowers have entered into a Letter of Credit Back-Stop Arrangement satisfactory to the Issuing Bank pursuant to Section 12.9(c), Section 4.8(a) (without prejudice to the rights of the
Lenders other than Defaulting Lenders in respect of such fees). 

4.10        Authorization to Charge Borrowers’
Accounts.  Each Borrower hereby authorizes the Administrative Agent to charge the account of any Borrower maintained with the Administrative Agent with the amount of all Fees, Expenses and other payments to be paid hereunder, under
the Fee Letter and under the other Loan Documents as and when such payments become due and agrees that it shall pay interest thereon from the date such amount is to be charged to such Borrower’s Account to the date the same is paid (whether by
the making of a Loan or otherwise) at the then applicable rate for Base Rate Loans. Each Borrower confirms that any charges which the Administrative Agent may so make to such Borrower’s Account as herein provided will be made as an
accommodation to the Borrowers and solely at the Administrative Agent’s discretion. The Administrative Agent will use its best efforts to give the 

 

 - 75 - 







 
Funds Administrator five Business Days advance notice of such Fees, Expenses and other payments in reasonable detail, provided that the failure to provide such notice shall not result in
any liability of the Administrative Agent. 
 4.11        Compensation for
Funding Losses.  The Borrowers shall compensate each Lender, upon its written request (which request shall set forth the basis for requesting such amounts), for all losses, expenses and liabilities (including, without limitation,
any interest paid by such Lender to lenders of funds borrowed by it to make or carry its Eurodollar Loans to the extent not recovered by the Lender in connection with the liquidation or re-employment of such funds (but not failure to receive the
Applicable Margin with respect to Eurodollar Loans) and including the compensation payable by such Lender to a Participant) and any loss sustained by such Lender in connection with the liquidation or re-employment of such funds (including, without
limitation, a return on such liquidation or re-employment that would result in such Lender receiving less than it would have received had such Eurodollar Loan remained outstanding until the last day of the Interest Period applicable to such
Eurodollar Loans) which such Lender may sustain as a result of: 

(a)        for any reason (other than a default by such Lender or Administrative Agent) a
continuation or Borrowing of, or conversion from or into, Eurodollar Loans does not occur on a date specified therefor in a Notice of Borrowing or Notice of Conversion or Notice of Continuation (whether or not withdrawn); 

(b)        any payment, prepayment or conversion or continuation of any of its Eurodollar
Loans occurring for any reason whatsoever on a date which is earlier than the last day of an Interest Period applicable thereto; 

(c)        any repayment of any of its Eurodollar Loans not being made on the date
specified in a notice of payment given by any Borrower; or 
 (d)        any
other failure by any Borrower to repay its Eurodollar Loans when required by the terms of this Agreement or (ii) an election made by Company pursuant to Section 4.13. A written notice as to additional amounts owed such Lender under
this Section 4.11 and delivered to Funds Administrator and Administrative Agent by such Lender shall, absent manifest error, be final, conclusive and binding for all purposes. Calculation of all amounts payable to a Lender under this
Section 4.11 shall be made as though that Lender had actually funded its relevant Eurodollar Loan through the purchase of a Eurodollar deposit bearing interest at the Eurodollar Rate in an amount equal to the amount of that Loan, having
a maturity comparable to the relevant Interest Period and through the transfer of such Eurodollar deposit from an offshore office of that Lender to a domestic office of that Lender in the United States of America; provided, however,
that each Lender may fund each of its Eurodollar Loans in any manner it sees fit and the foregoing assumption shall be utilized only for the calculation of amounts payable under this Section 4.11. 

 

 - 76 - 







 4.12        Increased Costs, Illegality,
Etc. 
 (a)         Generally.  In the event
that any Lender shall have determined (which determination shall, absent manifest error, be final and conclusive and binding upon all parties hereto but, with respect to clause (i) below, may be made only by Administrative Agent): 

(i)        on any Interest Rate Determination Date that, by reason of any changes arising after
the date of this Agreement affecting the interbank Eurodollar market, adequate and fair means do not exist for ascertaining the applicable interest rate on the basis provided for in the definition of Eurodollar Rate; or 

(ii)        at any time, that any Lender shall incur increased costs or reduction in the amounts
received or receivable hereunder with respect to any Eurodollar Loan because of (x) any Change in Law since the date of this Agreement such as, for example, but not limited to: (A) the imposition of any tax of any kind with respect to this
Agreement or any Eurodollar Loan or a change in the basis of taxation of payments to any Lender of the principal of or interest on the Notes or any other amounts payable hereunder (except for changes to the extent relating to Excluded Taxes) or
(B) a change in official reserve, special deposit, compulsory loan, insurance charge or similar requirements by any Governmental Authority (but, in all events, excluding reserves required under Regulation D to the extent included in the
computation of the Eurodollar Rate) and/or (y) other circumstances since the date of this Agreement affecting such Lender or the interbank Eurodollar market or the position of such Lender in such market (excluding, however, differences in a
Lender’s cost of funds from those of Administrative Agent which are solely the result of credit differences between such Lender and Administrative Agent); or 

(iii)        at any time, that the making or continuance of any Eurodollar Loan has been made
(x) unlawful by any law, directive or governmental rule, regulation or order, (y) impossible by compliance by any Lender in good faith with any governmental request (whether or not having force of law) or (z) impracticable as a result
of a contingency occurring after the date of this Agreement which materially and adversely affects the interbank Eurodollar market; 
 then,
(x) in the case of clause (i) above, Eurodollar Loans shall no longer be available until such time as Administrative Agent notifies Funds Representative and the Lenders that the circumstances giving rise to such notice by Administrative
Agent no longer exist, and any Notice of Borrowing or Notice of Conversion or Notice Continuation given by any Borrower with respect to Eurodollar Loans (other than with respect to conversions to Base Rate Loans) which have not yet been incurred
(including by way of conversion) shall be deemed rescinded by such Borrower, (y) in the case of clause (ii) above, such Borrower shall pay to such Lender, within ten days of written demand therefor, such additional amounts (in the form of
an increased rate of, or a different method of calculating, interest or otherwise as such Lender in its sole discretion shall determine) as shall be required to compensate such Lender for such increased costs or reductions in amounts received or
receivable hereunder and (z) in the case of clause (iii) above, such Borrower shall take one of the actions specified in Section 4.12(b) as promptly as possible and, in any event, within the time period required by law.

  

 - 77 - 







 (b)        Eurodollar
Loans.  At any time that any Eurodollar Loan is affected by the circumstances described in Section 4.12(a)(ii) or (iii), Borrowers may (and, in the case of a Eurodollar Loan affected by the circumstances
described in Section 4.12(a)(iii), shall) either (i) if the affected Eurodollar Loan is then being made initially or pursuant to a conversion, by giving Administrative Agent telephonic notice (confirmed in writing) on the same date
that Funds Administrator was notified by the affected Lender or Administrative Agent pursuant to Section 4.12(a)(ii) or (iii), cancel the respective Borrowing, or (ii) if the affected Eurodollar Loan is then outstanding, upon
at least three Business Days’ written notice to Administrative Agent, require the affected Lender to convert such Eurodollar Loan into a Base Rate Loan, provided, that if more than one Lender is affected at any time, then all affected
Lenders must be treated the same pursuant to this Section 4.12(b). 

(c)        Capital Requirements.  If any Lender determines that
any Change in Law concerning capital adequacy by any Governmental Authority, will have the effect of increasing the amount of capital required or expected to be maintained by such Lender or any corporation controlling such Lender based on the
existence of such Lender’s Commitments hereunder or its obligations hereunder, then Borrowers shall pay to such Lender, within ten days of its written demand therefor, such additional amounts as shall be required to compensate such Lender or
such other corporation for the increased cost to such Lender or such other corporation or the reduction in the rate of return to such Lender or such other corporation as a result of such increase of capital. 

(d)        Certificates for Reimbursement.  Each Lender, upon
determining that any additional amounts will be payable pursuant to this Section 4.12, will give prompt written notice thereof to Funds Administrator and Administrative Agent (which notice Administrative Agent will promptly transmit to
each of the other Lenders), which notice shall show the basis for calculation of such additional amounts, although the failure to give any such notice (unless the respective Lender has intentionally withheld or delayed such notice, in which case the
respective Lender shall not be entitled to receive additional amounts pursuant to this Section 4.12 for periods occurring prior to the
270th day before the giving of such notice) shall not
release or diminish any of Borrowers’ obligations to pay additional amounts pursuant to this Section 4.12. In determining such additional amounts, each Lender will act reasonably and in good faith and will use averaging and
attribution methods which are reasonable and which will, to the extent the increased costs or reduction in the rate of return relates to such Lender’s commitments, loans or obligations in general and are not specifically attributable to the
Commitments, Loans and obligations hereunder, cover all commitments, loans and obligations similar to the Commitments, Loans and obligations of such Lender hereunder whether or not the loan documentation for such other commitments, loans or
obligations permits the Lender to make the determination specified in this Section 4.12. Such determination shall, absent manifest error, be final and conclusive and binding on all parties hereto. 

4.13        Mitigation Obligations; Replacement of Affected Lenders. 

(a)        Change of Lending Office.  Each Lender which is or
will be owed compensation pursuant to Section 2.8(b) or (c) or Section 4.12(a) or (c) will, if requested by Borrowers, use reasonable efforts (subject to overall policy considerations of such Lender)
to 
  

 - 78 - 







 
cause a different branch or Affiliate to make or continue a Loan or Letter of Credit or to assign its rights and obligations hereunder to another of its branches or Affiliates if in the judgment
of such Lender such designation or assignment will avoid the need for, or materially reduce the amount of, such compensation to such Lender and will not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. Company hereby
agrees to pay all reasonable costs and expenses incurred by any Lender in connection with such designation or assignment. Nothing in this Section 4.13(a) shall affect or postpone any of the obligations of Borrowers or the right of any
Lender provided for herein. 
 (b)        Replacement of
Lenders.  If (x) any Lender is owed increased costs under Section 2.8(b) or (c) or Section 4.12(a)(ii) or (iii) or Section 4.12(c) materially in excess of those to
the other Lenders, (y) as provided in Section 12.1(a) or in Section 12.1(b), any Lender refuses to consent to certain proposed amendments, changes, supplements, waivers, discharges or terminations with respect to this
Agreement and the consent of the Required Lenders to such proposed amendment, change, supplement, waiver, discharge or termination is obtained or (z) any Lender becomes a Defaulting Lender, Company shall have the right to replace such Lender
(the “Replaced Lender”) with one or more other Eligible Assignee or Eligible Assignees (collectively, the “Replacement Lender”) acceptable to Administrative Agent, provided that (i) at the time of any
replacement pursuant to this Section 4.13(b), the Replacement Lender shall enter into one or more assignment agreements in form and substance satisfactory to Administrative Agent (it hereby being agreed that Administrative Agent is
authorized (but not obligated) to execute any such assignment agreement on behalf of a Replaced Lender relating to the assignment of the Loans and/or Commitments of such Replaced Lender, so long as all principal, interest, fees and other amounts due
to such Replaced Lender pursuant to this Agreement have been paid in full), pursuant to which the Replacement Lender shall acquire all outstanding Loans and Commitments of the Replaced Lender and such Replaced Lender’s participations in the
Letter of Credit Obligations, (ii) Borrowers shall have paid to Administrative Agent the assignment fee specified in Section 12.8, and (iii) all obligations of all Credit Parties owing to the Replaced Lender (including, without
limitation, such increased costs and excluding those specifically described in clause (i) above in respect of which the assignment purchase price has been, or is concurrently being, paid) shall be paid in full to such Replaced Lender
concurrently with such replacement. Upon the execution of the respective assignment documentation, the payment of amounts referred to in clauses (i), (ii) and (iii) above and, if so requested by the Replacement Lender, delivery to the
Replacement Lender of the appropriate Note or Notes executed by Borrowers, the Replacement Lender shall become a Lender hereunder and, unless the Replaced Lender continues to have outstanding Loans hereunder, the Replaced Lender shall cease to
constitute a Lender hereunder, except with respect to indemnification provisions under this Agreement, which shall survive as to such Replaced Lender. 

ARTICLE V 

CONDITIONS OF CREDIT 

5.1        Conditions Precedent to Effectiveness.  The
effectiveness of this Agreement shall be subject to the fulfillment, at or prior to the Restatement Date, of each of the following conditions: 
  

 - 79 - 







 (a)        Principal Loan
Documents.  
 (i)        Credit Agreement and
Notes.  The Borrowers shall have duly executed and delivered to Administrative Agent, with a signed counterpart for each Lender, this Agreement (including all schedules, exhibits, certificates, opinions and financial statements
delivered pursuant hereto), and the Borrowers shall have duly executed and delivered to Administrative Agent such Notes payable to the order of each applicable Lender in the amount of their respective Commitments as shall have been requested by such
Lenders all of which shall be in full force and effect; 
 (ii)        Subsidiary
Guaranty.  Each Material Domestic Subsidiary shall have duly authorized, executed and delivered an Amended and Restated Subsidiary Guaranty in form and substance satisfactory to the Agents and the Lenders (as amended, supplemented
or otherwise modified from time to time, the “Subsidiary Guaranty”); 

(iii)        Security Agreement.  The Borrowers and each Material
Domestic Subsidiary shall have duly authorized, executed and delivered an Amended and Restated Security Agreement in form and substance satisfactory to the Agents and the Lenders (as amended, supplemented or otherwise modified from time to time, the
“Security Agreement”) and shall have delivered to Collateral Agent, for the benefit of the Secured Creditors, all the Pledged Securities referred to therein then owned, if any, by such Credit Parties, (y) endorsed in blank in
the case of promissory notes constituting Pledged Securities referred to therein then owned, if any, by such Credit Parties, and (z) together with executed and undated stock powers, in the case of Capital Stock constituting Pledged Securities
and the other documents and instruments required to be delivered under the Security Agreement; 

(iv)        Control Agreements.  The Credit Parties, the Collateral
Agent and the applicable financial institutions shall have duly authorized, executed and delivered a Control Agreement with respect to each Deposit Account or Securities Account to the extent required by Section 8.14. 

(b)        Perfection on Personal Property
Collateral.  Collateral Agent shall have received: 

(i)        executed and delivered perfection certificates (each, a “Perfection
Certificate”) in the form of Exhibit 5.1(b)(i) hereto dated the Restatement Date from Company and each of its Domestic Subsidiaries; 

(ii)        proper financing statements (Form UCC-1 or such other financing statements or
similar notices as shall be required by local law) fully executed for filing under the UCC or other appropriate filing offices of the jurisdiction of organization of each Credit Party that is not a Foreign Subsidiary and each other jurisdiction as
may be necessary or, in the opinion of Collateral Agent, desirable to perfect the security interests purported to be created by the Security Documents; 

(iii)        certified copies of Requests for Information or Copies (Form UCC-11), or equivalent
reports, listing all effective financing statements or similar notices that 
  

 - 80 - 







 
name any Credit Party that is not a Foreign Subsidiary (by its actual name or any trade name, fictitious name or similar name), or any division or other operating unit thereof, as debtor (whether
filed in the jurisdiction referred to in clause (i) or elsewhere), together with copies of such other financing statements (none of which shall cover the Collateral except to the extent evidencing Permitted Liens or for which Collateral Agent
shall have received written authorization from the secured party to file termination statements (Form UCC-3 or such other termination statements as shall be required by local law), such termination statements fully executed for filing where
necessary); 
 (iv)        evidence of the completion of, or arrangements reasonably
satisfactory to Collateral Agent for, all other recordings and filings of, or with respect to, the Security Documents with all Governmental Authorities and all other actions as may reasonably be necessary or, in the reasonable opinion of Collateral
Agent, desirable to perfect the security interests intended to be created by the Security Documents; and 

(v)        evidence that all other actions reasonably necessary, or in the reasonable opinion of
Collateral Agent, desirable to perfect the security interests purported to be taken by the Security Documents have been taken or provided for. 

(c)        Real Property Documents.    Collateral Agent
shall have received: 
 (i)        fully executed and notarized counterparts of deeds
of trusts, mortgages and similar documents (or, in the case of the Existing Mortgages, amendments thereto (the “Mortgage Amendments”)) in favor of Collateral Agent (or such other trustee as may be required or desired under local
law) for the benefit of the Secured Creditors, in each case in form and substance satisfactory to Collateral Agent (as so amended, each a “Mortgage” and collectively, the “Mortgages”), which Mortgages shall cover
such of the real property owned by each Credit Party in the United States and identified on Schedule 6.11(c) as to be encumbered by a Mortgage (each a “Mortgaged Property” and collectively, the “Mortgaged
Properties”), together with evidence that counterparts of the Mortgages have been delivered to the Title Company, for recording in all places to the extent necessary, to create a valid and enforceable second priority lien on each Mortgaged
Property subject only to Permitted Real Property Encumbrances and the first priority liens of the Term Collateral Agent; 

(ii)        to the extent that the Mortgages are not sufficient as fixture filings, completed
UCC-1 financing statements as reasonably deemed necessary or desirable by Collateral Agent with respect to each such Mortgaged Property and the fixtures attached thereto or otherwise located thereon; 

(iii)        (A) mortgagee title insurance policies (or binding commitments to issue such title
insurance policies) issued by the Title Company (the “Mortgage Policies”) in amounts satisfactory to Collateral Agent (but which shall in any event be no greater than the lesser of the Fair Market Value of the Mortgaged Property and
the Revolving Commitments) and (B) a T-38 endorsement or its equivalent to the existing Mortgage Policy for each Existing Mortgage in form and substance satisfactory to Collateral Agent (the “Mortgage Policy
Endorsements”), assuring Collateral Agent, as to the Mortgaged Fee Property, the Mortgages are valid and enforceable second priority mortgage liens on the respective Mortgaged Properties,

  

 - 81 - 







 
free and clear of all defects, encumbrances and other Liens except Permitted Real Property Encumbrances and the first priority liens of the Term Agent and the terms and conditions of the Mortgage
Policies. The Mortgage Policies and the Mortgage Policy Endorsements shall be in form and substance satisfactory to Collateral Agent, and the Mortgage Policies shall include such other endorsements as may be reasonably required by Collateral
Agent and available in the respective jurisdiction(s) in which each such Mortgaged Property may be located, and shall provide for affirmative insurance and such reinsurance (including direct access agreements) as Collateral Agent in its discretion
may request and which is available in the respective jurisdiction in which the Mortgaged Property is located; provided, however, that as to any Mortgage Policies issued with respect to Mortgaged Property located in the State of Texas,
Collateral Agent acknowledges that (x) the promulgated Form T-2 is an acceptable form of insurance for such Mortgage Policies, (y) no T-19 Endorsement shall be required and (z) a survey exception may be included; 

(iv)        for each Mortgaged Fee Property, the prior survey delivered in connection with the
Existing Credit Agreement; and 
 (v)        evidence as to (A) whether any
Mortgaged Fee Property is in an area designated by the Federal Emergency Management Agency as having special flood or mud slide hazards and (B) if any Mortgaged Fee Property is in an area designated by the Federal Emergency Management Agency as
having special flood or mud slide hazards, (1) whether the community in which such Mortgaged Fee Property is located is participating in the National Flood Insurance Program, (2) the applicable Credit Party’s written acknowledgment of
receipt of written notification from the Collateral Agent (a) as to the fact that such Mortgaged Fee Property is in an area designated by the Federal Emergency Management Agency as having special flood or mud slide hazards, (b) as to
whether the community in which each such Mortgaged Fee Property is located is participating in the National Flood Insurance Program and (3) copies of insurance policies or certificates of insurance of the applicable Credit Party evidencing
flood insurance satisfactory to Collateral Agent and naming the Collateral Agent as sole loss payee on behalf of the Secured Creditors. 

(d)        Opinions of Counsel.  Administrative Agent and
Collateral Agent shall have received from Bracewell & Giuliani LLP, special counsel to the Credit Parties, an opinion addressed to Administrative Agent, Collateral Agent and each of the Lenders and dated the Restatement Date, which shall be
in form and substance satisfactory to Administrative Agent or Collateral Agent and shall cover such matters incident to the transactions contemplated herein and in the other Loan Documents as Administrative Agent or Collateral Agent may reasonably
request. 
 (e)        Corporate Documents and Financial Matters. 

 (i)        Officer’s Certificate.  Administrative Agent
shall have received, a certificate executed by a Responsible Officer on behalf of Company, dated on the Restatement Date, stating that the representations and warranties set forth in Article VI hereof are true and correct as of the date of
the certificate, that no Event of Default or Unmatured Event of Default has occurred and is continuing, that the conditions of Section 5.1 hereof have been fully satisfied 

 

 - 82 - 







 
(except that no opinion need be expressed as to the Administrative Agent’s or Required Lenders’ satisfaction with any document, instrument or other matter), that no Liens (except for
Permitted Liens) have been placed against the Collateral or the Mortgaged Property since the respective dates of the searches of financing statements filed under the Uniform Commercial Code and delivered pursuant to this Section 5.1 and
that, to Company’s knowledge, the Intercreditor Agreement remains in full force and effect; 

(ii)        Secretary’s Certificate.    On the
Restatement Date, the Administrative Agent shall have received from each Credit Party a certificate, dated the Restatement Date, signed by the secretary or any assistant secretary of such Credit Party, as to the incumbency and signature of the
officers of each such Credit Party executing any Document (in form and substance satisfactory to Administrative Agent) and any certificate or other document or instrument to be delivered pursuant hereto or thereto by or on behalf of such Credit
Party, together with evidence of the incumbency of such secretary or assistant secretary, and certifying as true and correct, attached copies of all Organizational Documents of such Credit Party and the resolutions of such Credit Party referred to
in such certificate and all of the foregoing (including each Organizational Document) shall be reasonably satisfactory to Administrative Agent; 

(iii)        Good Standing.    A good standing certificate or
certificate of status or comparable certificate of each Credit Party from the Secretary of State (or other governmental authority) of its state or province of organization or such equivalent document issued by any foreign Governmental Authority if
applicable in such foreign jurisdiction; 
 (iv)        Employee Benefit Plans;
Capital Stock Agreements; Collective Bargaining Agreements; Tax Sharing Agreements; Debt Agreements.    On or prior to the Restatement Date, there shall have been delivered to Administrative Agent or included in materials
filed with the SEC true and correct copies of: 
 (1)        all Plans (other than
multiemployer plans as defined in Section 4001(a)(3) of ERISA), Foreign Pension Plans, “employee welfare benefit plans” (as defined in Section 3(1) of ERISA) which provide benefits to retired employees (other than as
required by Section 601 et. seq. of ERISA), nonqualified deferred compensation plans subject to Section 409A of the Code and equity-based incentive plans; 

(2)         any material agreements entered into by Company governing the terms and relative
rights of its Capital Stock, any material agreements entered into by shareholders relating to Company with respect to their Capital Stock and any material agreements with Affiliates of Company with respect to the management of Company if a payment
thereunder would constitute a Restricted Payment; 
 (3)        all collective
bargaining agreements applying or relating to any employee of any Credit Party; 

(4)        all material agreements evidencing or relating to Indebtedness to Remain Outstanding
of any Credit Party set forth on Schedule 8.2(i); 
  

 - 83 - 







 (5)        any “management letters”
received from Company’s auditors or any of its Subsidiaries during the two year period immediately preceding the Restatement Date; and 

(6)        all material tax sharing, disaffiliation tax allocation and other similar agreements
entered into by any Credit Party. 
 (v)        Environmental;
Insurance.  On or prior to the Restatement Date, Administrative Agent shall have received: 

(1)        the Environmental Studies from Environmental Resources Management, with respect to
certain of the Mortgaged Fee Properties, the results of which shall be in form and substance reasonably satisfactory to the Administrative Agent; and 

(2)        evidence of insurance complying with the requirements of Section 7.8 for
the business and properties of Company. 

(vi)        Financials.  Administrative Agent shall have received
(i) audited consolidated balance sheets of Company and its Subsidiaries for the Fiscal Years ending June 30, 2009, June 30, 2008 and June 30, 2007 and the related consolidated statements of income and cash flows,
(ii) unaudited quarterly financial statements for Company for the Fiscal Quarter ended December 31, 2009 and (iii) financial Projections for Company and its Subsidiaries; 

(vii)        Existing Indebtedness and Capital Structure.  On the
Restatement Date and after giving effect to the Transaction and the other transactions contemplated hereby, Company shall not have any Indebtedness or preferred Capital Stock outstanding except for the Loans, Indebtedness under the Term Loan Credit
Facility, Indebtedness permitted pursuant to Section 8.2(i).; 

(viii)        Solvency.  Company shall have demonstrated to the
reasonable satisfaction of Administrative Agent that after giving effect to the Transaction and any borrowings under the Term Loan Credit Facility on the Restatement Date, Company and its Material Domestic Subsidiaries, taken as a whole, are
Solvent; and 
 (ix)        Notice of Borrowing and Letter of Direction; Funds
Flow Memorandum.  Administrative Agent shall have received a Notice of Borrowing meeting the requirements of Section 2.2(a)(i) and an executed letter of direction and funds flow memorandum in form and substance
acceptable to Administrative Agent. 

(f)        Miscellaneous. 

(i)        Consents; Compliance with Law.  All necessary governmental
and material third party approvals and/or consents in connection with the Transaction, the transactions contemplated by this Agreement and otherwise referred to herein shall have been obtained and remain in effect. The execution of the Loan
Documents and the consummation of the transactions contemplated thereby (including the Transaction) shall not violate or conflict with any law, rule or regulation or any material agreement, contract or other obligation binding

  

 - 84 - 







 
upon or affecting the property of Company or any of its Subsidiaries. All Loans hereunder shall be in full compliance with all applicable requirements, including, to the extent applicable, the
rules and regulations of the Board of Governors of the Federal Reserve System. 

(ii)        Litigation.  No action, suit or proceeding (including,
without limitation, any inquiry or investigation) shall be pending or threatened against Company or any of its Subsidiaries or with respect to the, the Transaction, the financing contemplated hereby or any documentation executed in connection
therewith, unless such action suit or proceeding could not reasonably be expected to result in a Material Adverse Effect on Company and its Subsidiaries, taken as a whole, and no injunction or other restraining order shall have been issued or a
hearing therefor be pending or noticed with respect to the Transaction, this Agreement or the transactions contemplated hereby or thereby. 

(iii)        Borrowing Base Certificate.  Company shall have duly
authorized, executed and delivered the Borrowing Base Certificate pursuant to Section 7.2(g). 

(g)        Collateral Audits; Appraisals.  On or
prior to the Restatement Date, the Borrowers shall have provided to the Co-Collateral Agents (i) an appraisal of the Inventory of each Borrower and their respective Subsidiaries and (ii) the results of a field examination of the Inventory
and Accounts Receivable and related assets and liabilities of each Borrower and their respective Subsidiaries and, in each case, the results of such appraisal and field examination shall be in form, scope and substance reasonably satisfactory to the
Co-Collateral Agents. 
 (h)        Other Closing Conditions. 

 (i)        No Material Adverse Change.  Since
June 30, 2009, no event or change has occurred that has resulted in or evidences, either in any case or in the aggregate, a Material Adverse Effect. 

(ii)        Fees and Expenses.  Company shall have paid to
Administrative Agent and the Lenders, as applicable, all reasonable, invoiced costs, fees and expenses (including, without limitation, reasonable legal fees and out of pocket expenses of White & Case LLP and the reasonable costs, fees and
out of pocket expenses referred to in Section 12.4) payable to Administrative Agent and the Lenders to the extent then due and all recording fees and other charges payable in connection with the filing and recording of the Loan
Documents; 
 (iii)        Other Matters.  All corporate and
other proceedings taken in connection with the Transaction at or prior to the date of this Agreement, and all documents incident thereto will be reasonably satisfactory in form and substance to Administrative Agent; Administrative Agent shall have
received such other instruments and documents as Administrative Agent shall reasonably request in connection with the execution of this Agreement, and all such instruments and documents shall be reasonably satisfactory in form and substance to
Administrative Agent. 
 Each Lender hereby agrees that by its execution and delivery of its signature page hereto and by the
funding of its Loan to be made on the Restatement Date, such Lender approves of and consents to each of the matters set forth in Section 5.1 and Section 5.2 which must be

  

 - 85 - 







 
approved by, or which must be satisfactory to, the Administrative Agent or the Required Lenders or Lenders, as the case may be; provided that, in the case of any agreement or document
which must be approved by, or which must be satisfactory to, the Required Lenders, Administrative Agent or Company shall have delivered a copy of such agreement or document to such Lender on or prior to the Restatement Date if requested. 

5.2        Conditions to Each Credit Event.  On the date of
each Credit Event (including the initial Credit Event), both immediately before and immediately after giving effect thereto and to the application of the proceeds therefrom, the following statements shall be true (and each request for a Credit
Event, shall constitute a representation and warranty by each Borrower that on the date of such Credit Event, immediately before and immediately after giving effect thereto and to the application of the proceeds therefrom, such statements are true):

 (a)        The representations and warranties contained in this Agreement and
in each other Loan Document are true and correct in all material respects on and as of the date of such Credit Event as though made on and as of such date, except to the extent that such representations and warranties are expressly made as of a
specific date (in which event such representations and warranties shall have been true and correct on and as of such specified date); 

(b)        No event has occurred and is continuing, or would result from such Credit
Event or the application of the proceeds thereof, which would constitute an Event of Default or Unmatured Event of Default; 

(c)        In the case of the issuance of any Letter of Credit, none of the events set
forth in Section 3.1 has occurred and is continuing or would result from the issuance of such Letter of Credit. 

ARTICLE VI 

REPRESENTATIONS AND WARRANTIES 

In order to induce the Lenders to enter into this Agreement and to make the Loans as provided herein, each Borrower makes the following
representations, warranties and agreements as of the Restatement Date and as of the date of each Credit Event thereafter (both before and after giving effect to the consummation of the Transaction), all of which shall survive the execution and
delivery of this Agreement and the Notes and the making of the Loans: 

6.1        Corporate Status.  Each Credit Party and each of
its Subsidiaries (i) is a duly organized and validly existing organization under the laws of the jurisdiction of its organization, (ii) has the organizational power and authority to own its property and assets and to transact the business
in which it is engaged and presently proposed to engage in and (iii) is duly qualified and is authorized to do business and is in good standing in (y) its jurisdiction of organization and (z) in each other jurisdiction where the
ownership, leasing or operation of property or the conduct of its business requires such qualification, except in the case of clause (z) for such failure to be so qualified which, in the aggregate, could not reasonably be expected to have a
Material Adverse Effect. No Borrower and no Subsidiary of any Borrower has used any corporate or fictitious 
  

 - 86 - 







 
name during the five years preceding the date hereof, other than the corporate name under which it has executed this Agreement or such other name as is disclosed in the Perfection Certificate.

 6.2        Corporate Power and Authority.  Each Credit
Party has the organizational power and authority to execute and deliver each of the Documents to which it is a party and to perform its obligations thereunder and has taken all necessary organizational action to authorize the execution, delivery and
performance by it of each of such Documents. Each Credit Party has duly executed and delivered each of the Documents to which it is a party, and each of such Documents constitutes its legal, valid and binding obligation enforceable in accordance
with its terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws generally affecting creditors’ rights and by equitable principles (regardless
of whether enforcement is sought in equity or at law). 
 6.3        No
Violation.  The execution and delivery by each Credit Party of the Documents to which it is a party (including, without limitation, the granting of Liens pursuant to the Security Documents), and performance of such Credit
Party’s obligations thereunder do not (i) contravene any provision of any Requirement of Law applicable to any Credit Party, (ii) conflict with or result in any breach of or constitute a tortuous interference with any of the terms,
covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien (except pursuant to the Security Documents) upon any of the property or assets of any
Credit Party pursuant to the terms of any Contractual Obligation to which any Credit Party is a party or by which it or any of its property or assets is bound or to which it may be subject except for such contraventions, conflicts, breaches or
defaults that could not reasonably be expected to have a Material Adverse Effect, (iii) violate any provision of any Organizational Document of any Credit Party or (iv) require any approval of stockholders or any approval or consent of any
Person (other than a Governmental Authority) except filings, consents or notices which have been made, obtained, given, respectively. 

6.4        Governmental Approvals.  Except for the
recording of the Mortgages, filings with the U.S. Patent and Trademark Office to record liens on intellectual property, and the filing of the UCC financing statements which shall be recorded and filed, respectively, on, or as soon as
practicable after, the date hereof, no order, consent, approval, license, authorization or validation of, or filing, recording or registration with (except as have been obtained or made on or prior to the Restatement Date), or exemption by, any
Governmental Authority, is required to authorize, or is required in connection with, (i) the execution and delivery of any Document or the performance of the obligations hereunder or (ii) the legality, validity, binding effect or
enforceability of any such Document. 
 6.5        Financial Statements; Financial
Condition; Undisclosed Liabilities Projections; etc. 

(a)        Financial Statements.  The balance sheets of
Company at June 30, 2007, June 30, 2008, June 30, 2009 and December 31, 2009 and the related statements of income, cash flows and shareholders’ equity of Company for the Fiscal Year or other period ended on such
dates, as the case may be, fairly present in all material respects the financial condition and results 
  

 - 87 - 







 
of operation and cash flows of Company and its consolidated subsidiaries as of such dates and for such periods (subject to normal year-end audit adjustments and the absence of footnotes in the
case of the December 31, 2009 statements). Copies of such statements have been furnished to the Lenders prior to the date hereof and have been examined by Grant Thornton LLP, independent certified public accountants, who delivered an
unqualified opinion in respect thereto. 

(b)        Solvency.  On and as of the Restatement Date, after
giving effect to the Transaction and to all Indebtedness (including the Loans) being incurred, (and the use of proceeds thereof), and Liens created by Company and its Subsidiaries in connection with the transactions contemplated hereby, Company and
its Material Domestic Subsidiaries, taken as a whole, are Solvent. 

(c)        No Undisclosed Liabilities.  Except as fully
reflected in the financial statements and the notes related thereto delivered pursuant to Section 6.5(a) and on Schedule 8.2(i) there were as of the Restatement Date (and after giving effect to the Transaction and the other
transactions contemplated hereby) no liabilities or obligations with respect to Company and its Subsidiaries of any nature whatsoever (whether absolute, accrued, contingent or otherwise and whether or not due) which, either individually or in
aggregate, would be material to Company and its Subsidiaries, taken as a whole. As of the Restatement Date (and after giving effect to the Transaction and the other transactions contemplated hereby), Company does not know of any basis for the
assertion against Company or any Subsidiary of any liability or obligation of any nature whatsoever that is not fully reflected in the financial statements or the notes related thereto delivered pursuant to Section 6.5(a) and on
Schedule 8.2(i) which, either individually or in the aggregate, could reasonably be expected to be material to Company and its Subsidiaries taken as a whole. 

(d)        Projections.  On and as of the Restatement Date, the
Projections delivered to Administrative Agent and the Lenders on or before the Restatement Date in connection with the Transaction and each of the Projections delivered after the Restatement Date pursuant to Section 7.2(d) or delivered
in connection with the certification of the Payment Conditions are, at the time made, based on good faith estimates and assumptions made by the management of Company, and there are no statements or conclusions in any of the Projections or such
projections which, at the time made, are based upon or include information known to Company to be misleading or which fail to take into account material information known to Company at such time regarding the matters reported therein. 

(e)        No Material Adverse Change.  Since
June 30, 2009, no event or change has occurred that has resulted in or evidences, either in any case or in the aggregate, a Material Adverse Effect. 

6.6        Litigation and Judgments.  There are no actions, suits
or proceedings pending or, to the knowledge of Company and its Subsidiaries, threatened (i) against any Credit Party with respect to any Document or (ii) that could reasonably be expected to have a Material Adverse Effect. No judgments,
orders, writs or decrees are outstanding against any Credit Party 
  

 - 88 - 







 
or any Subsidiary of any Credit Party, which individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

6.7        True and Complete Disclosure.  All factual information
(taken as a whole) heretofore or contemporaneously furnished by or on behalf of Company or any of its Subsidiaries in writing to any Lender (including, without limitation, all information contained in the Documents) (other than the Projections as to
which Section 6.5(d) applies) for purposes of or in connection with this Agreement or any transaction contemplated herein is, and all other such factual information (taken as a whole) hereafter furnished by or on behalf of Company or any
of its Subsidiaries in writing to any Lender for purposes of or in connection with this Agreement or any transaction contemplated herein, when taken as a whole, do not contain as of the date furnished any untrue statement of material fact or omit to
state a material fact necessary in order to make the statements contained herein or therein, in light of the circumstances under which they were made, not misleading. 

6.8        Use of Proceeds; Margin Regulations. 

(a)        Loan Proceeds.  All proceeds of the Loans shall be
used by Company to pay fees and expenses in connection with the Transaction and for ongoing working capital and general corporate purposes. 

(b)        Margin Regulations.  No part of the proceeds of any
Loan will be used to purchase or carry any margin stock (as defined in Regulation U of the Board), directly or indirectly, or to extend credit for the purpose of purchasing or carrying any such margin stock for the purpose of reducing or retiring
any indebtedness which was originally incurred to purchase or carry any margin security or for any other purpose which might cause any of the Loans or extensions of credit under this Agreement to be considered a “purpose credit” within the
meaning of Regulation T, U or X of the Board. 
 6.9        Taxes.

 (a)        Tax Returns and Payments.  Each
Borrower and each of its Subsidiaries has timely filed or caused to be filed with the appropriate taxing authority, all material returns, statements, forms and reports for taxes (the “Returns”) required to be filed by or with
respect to the income, properties or operations of Company and/or any of its Subsidiaries. The Returns reflect in all material respects all liability for taxes of Company and its Subsidiaries for the periods covered thereby. Each of Company and each
of its Subsidiaries has paid all material taxes payable by it before they have become delinquent other than those contested in good faith and for which adequate reserves have been established in conformity with GAAP. Neither Company nor any of its
Subsidiaries has incurred, or will incur, any material tax liability in connection with the Transaction. Neither Company nor any of its Subsidiaries has participated in any transaction (which relates to a year of the taxpayer that is still open
under the statute of limitations) which is a “reportable transaction” within the meaning of Treasury Regulation section 1.6011-4(b)(2) (irrespective of the date the transaction was entered). 

(b)    Tax Examinations.  As of the date hereof, there is no action, suit,
proceeding, investigation, audit, or claim pending or, to the knowledge of Company, threatened 
  

 - 89 - 







 
by any authority regarding any taxes relating to Company or any of its Subsidiaries (including taxes for which Company or its Subsidiaries could be liable for as a result of joint and several
liability, successor liability, transferee liability, or otherwise) that could reasonably be expected to result in any material liability to any Credit Party. All deficiencies which have been asserted against Company and its Subsidiaries (or for
which Company or its Subsidiaries could be liable) as a result of any examinations have been fully paid or finally settled or are being contested in good faith. No issue has been raised in any examination which, by application or similar principles,
reasonably can be expected to result in an assertion of a deficiency for any other year not so examined that has not been accrued on Company’s and its Subsidiaries’ audited financial statements for its most recently ended Fiscal Year that
would be required to be so accrued in accordance with GAAP. Neither Company nor any of its Subsidiaries has knowledge of any material federal income tax liability with respect to open taxable years in excess of amounts accrued on such Person’s
financial statements for its most recently ended Fiscal Year that would be required to be so accrued in accordance with GAAP, nor does Company or any of its Subsidiaries anticipate any further material tax liability with respect to such open taxable
years taken as a whole in excess of such accrued amounts. 

6.10        Compliance With ERISA; Foreign Pension
Plans.  (a)  Except as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect, (i) each Plan has been operated and administered in a manner so as not to result in any liability to a
Credit Party, any of its Subsidiaries or any of their ERISA Affiliates for failure to comply with the applicable provisions of applicable law, including ERISA and the Code; (ii) no Termination Event has occurred with respect to any Plan;
(iii) to the best knowledge of Company, no Multiemployer Plan is insolvent or in reorganization; (iv) no Plan has an accumulated or waived funding deficiency or has applied for an extension of any amortization period within the meaning of
Section 412 of the Code; (v) neither Company nor any of its Subsidiaries nor any of their ERISA Affiliates have incurred any liability to or on account of a Plan pursuant to Section 409, 502(i), 502(l), 4062, 4063, 4064, 4069, 4201 or
4204 of ERISA or Section 4971 or 4975 of the Code; (vi) no proceedings have been instituted to terminate any Plan within the last Fiscal Year; (vii) using actuarial assumptions and computation methods consistent with subpart 1 of
subtitle E of Title IV of ERISA, neither Company nor any of its Subsidiaries nor any of their ERISA Affiliates would have any liability to any Multiemployer Plan in excess of $10,000,000 in the event of a complete withdrawal therefrom, as of the
close of the most recent fiscal year of each such Multiemployer Plan ending prior to the date of any Credit Event; (viii) no Lien imposed under the Code or ERISA on the assets of Company, any of its Subsidiaries or any of their ERISA Affiliates
exists or is likely to arise on account of any Plan; and (ix) each Credit Party, each of its Subsidiaries or each of their ERISA Affiliates have made all contributions to each Plan within the time required by law or by the terms of such Plan
and Company and its Subsidiaries and ERISA Affiliates do not maintain or contribute to any “employee welfare benefit plan” (as defined in Section 3(1) of ERISA) which provides benefits to retired employees (other than as required by
Section 601 et seq. of ERISA) or any employee pension benefit plan (as defined in Section 3(2) of ERISA). 

(b)        (i)        Except as, in the
aggregate, could not reasonably be expected to have a Material Adverse Effect, each Foreign Pension Plan is in compliance and in good standing (to the extent such concept exists in the relevant jurisdiction) in all material respects

  

 - 90 - 







 
with all laws, regulations and rules applicable thereto, including all funding requirements, and the respective requirements of the governing documents for such Foreign Pension Plan;
(ii) with respect to each Foreign Pension Plan maintained or contributed to by Company or any of its Subsidiaries, (A) that is required by applicable law to be funded in a trust or other funding vehicle, the aggregate of the accumulated
benefit obligations under such Foreign Pension Plan does not exceed to any material extent the current fair market value of the assets held in the trusts or similar funding vehicles for such Foreign Pension Plan and (B) that is not required by
applicable law to be funded in a trust or other funding vehicle, reasonable reserves have been established in accordance with prudent business practice or where required by ordinary accounting practices in the jurisdiction in which such Foreign
Pension Plan is maintained; (iii) there are no material actions, suits or claims (other than routine claims for benefits) pending or, to the knowledge of Company or its Subsidiaries, threatened against Company or any Subsidiary with respect to
any Foreign Pension Plan; (iv) all material contributions required to have been made by Company or any of its Subsidiaries to any Foreign Pension Plan have been made within the time required by law or by the terms of such Foreign Pension Plan;
and (v) except as disclosed on Schedule 6.10, no Foreign Pension Plan with respect to which Company or any of its Subsidiaries could have any material liability has been terminated or wound-up and no actions or proceedings have been
taken or instituted to terminate or wind-up such a Foreign Pension Plan. 

6.11        Security Documents. 

(a)        Personal Property Collateral.  The provisions of the
Security Agreement are effective to create in favor of Collateral Agent for the benefit of the Secured Creditors a legal, valid and enforceable security interest in all right, title and interest of Borrowers and the Subsidiary Guarantors in the
Collateral, and the Security Agreement, together with the filings of the UCC initial financing statements described therein creates a fully perfected lien on, and security interest in, all right, title and interest of Borrowers and the Subsidiary
Guarantors in all of the Collateral described therein (to the extent perfection can be obtained by filing of a financing statement), subject to no other Liens other than Permitted Liens. The recordation in the United States Patent and Trademark
Office of assignments for security made pursuant to the Security Agreement, together with filings of the UCC initial financing statements made pursuant to the Security Agreement, will be effective, under Federal law, to perfect the security interest
granted to Collateral Agent in the trademarks and patents covered by the Security Agreement. The recordation in the United States Copyright Office of assignments for security made pursuant to the Security Agreement, together with filings of the UCC
initial financing statements made pursuant to the Security Agreement, will be effective under Federal and applicable state law to perfect the security interest granted to Collateral Agent in any copyrights covered by the Security Agreement.

 (b)        Pledged Securities.  To the extent
represented by certificated securities (the “Certificated Pledged Stock”) or notes (the “Pledged Notes”) described in the Security Documents, when stock certificates representing such Certificated Pledged Stock and
the original Pledged Notes are delivered to Collateral Agent (or the Term Collateral Agent as bailee for Collateral Agent), together with executed stock powers in blank or note powers in blank, as applicable, and the UCC initial financing statements
described in the Security Agreement are 
  

 - 91 - 







 
filed in the offices described in the Security Agreement and the Restatement Date occurs, the Security Agreement shall create a fully perfected Lien (to the extent such Lien can be perfected by
filing, recording, registration or possession) on, all right, title and interest of the Credit Parties in such Collateral and the proceeds thereof, as security for the Obligations, in each case prior and superior in right to any other Person (except
Customary Permitted Liens of the types described in clauses (i), (ii), (iii) and (iv) of the definition thereof and Liens described in clause (e) of Section 8.1). 

(c)        Real Estate Collateral.  The Mortgages create, as
security for the obligations purported to be secured thereby, a valid and enforceable and, upon proper recording in the appropriate jurisdictions, perfected Lien on all of the Mortgaged Properties (including, without limitation, all fixtures and
improvements relating to such Mortgaged Properties and affixed or added thereto on or after the Restatement Date) in favor of Collateral Agent (or such other trustee as may be named therein) for the benefit of the Secured Creditors,
(i) superior to and prior to the rights of all third Persons and (ii) subject to no other Liens (in case of each of (i) and (ii)), other than Permitted Real Property Encumbrances, Liens in favor of the Term Collateral Agent and, in
the case of fixtures and improvements, Permitted Liens). Schedule 6.11(c) contains a true and complete list of each parcel of real property owned in fee or leased by any Credit Party on the date hereof, the type of interest therein held by
such Credit Party and whether such real property will be encumbered by a Mortgage. Each of the applicable Credit Parties designated on Schedule 6.11(c) has good and indefeasible title to all its Mortgaged Properties free and clear of all
Liens except those described in the first sentence of this Section 6.11(c). 

6.12        Intentionally Omitted. 

6.13        Ownership of Property.  Company and each of its
Subsidiaries has good and indefeasible title to, or a subsisting leasehold interest in, all items of material real and personal property used in its operations, free and clear of all Liens, except Permitted Liens. Substantially all items of real and
material personal property owned by, leased to or used by Company and each of its Subsidiaries are in good operating condition and repair, ordinary wear and tear excepted, are free and clear of any known defects except such defects as do not
substantially interfere with the continued use thereof in the conduct of normal operations, and are able to serve the function for which they are currently being used. The items of real and personal property owned by, leased to or used by Company
and each of its Subsidiaries constitute all of the assets used in the conduct of such Person’s business as presently conducted, and neither this Agreement nor any other Document, nor any transaction contemplated under any such agreement, will
affect any right, title or interest of Company or any of its Subsidiaries in and to any of such assets in a manner that would have or is reasonably likely to have a Material Adverse Effect. To the actual knowledge of Company, without any inquiry or
investigation, there are no actual, threatened or alleged defaults of a material nature with respect to any leases of real property under which Company or any of its Subsidiaries is lessee or lessor. Company and its Subsidiaries have granted
Mortgages to secure the Obligations on all parcels of real property owned in fee on the Restatement Date, located in the United States and material to the operations of Company and its Subsidiaries. 

 

 - 92 - 







 6.14        Capitalization of
Company.  On the Restatement Date, the capitalization of Company will be as set forth on Schedule 6.14 hereto. All outstanding shares of Capital Stock of Company have been duly authorized and validly issued and are fully
paid and non-assessable. Except as set forth on Schedule 6.14, no authorized but unissued or treasury shares of Capital Stock of Company are subject to any option, warrant, right to call or commitment of any kind or character. A complete and
correct copy of each of the Organizational Documents of Company in effect on the Restatement Date has been delivered to Administrative Agent. Company has no outstanding stock or securities convertible into or exchangeable for any shares of its
Capital Stock, or any rights issued to any Person (either preemptive or other) to subscribe for or to purchase, or any options for the purchase of, or any agreements providing for the issuance (contingent or otherwise) of, or any calls, commitments
or claims of any character relating to any of its Capital Stock or any stock or securities convertible into or exchangeable for any of its Capital Stock (other than as set forth in the Organizational Documents of Company). Neither Company nor any of
its Subsidiaries is subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares of its Capital Stock or any convertible securities, rights or options of the type described in the preceding sentence.

 6.15        Subsidiaries.  

(a)        Organization.  Schedule 6.15 hereto sets forth
a true, complete and correct list as of the Restatement Date of each Subsidiary of Company and indicates for each such Subsidiary (i) its jurisdiction of organization, state identification number and federal employer identification number or
equivalent organizational number in its jurisdiction of organization and exact legal name as it appears on the certificate of incorporation or other state or applicable Governmental Authority issued Organizational Document, (ii) its ownership
(by holder and percentage interest) and (iii) whether it is a Subsidiary Guarantor. 

(b)        Capitalization.  All of the issued and outstanding
shares of Capital Stock of each Subsidiary of Company as of the Restatement Date are owned, directly or indirectly, by Company. All shares of Capital Stock of each Subsidiary of Company have been duly authorized and validly issued, are fully paid
and non-assessable and are owned, free and clear of all Liens except for Permitted Liens. No authorized but unissued or treasury shares of capital stock of any Subsidiary of Company are subject to any option, warrant, right to call or commitment of
any kind or character. A complete and correct copy of each Organizational Document of each Domestic Subsidiary of Company and each Foreign Subsidiary of Company whose Capital Stock is required to be pledged pursuant to any Security Document has been
delivered to Administrative Agent. 
 (c)        Restrictions on or
Relating to Subsidiaries.  There does not exist any encumbrance or restriction on the ability of: 

(i)        any Subsidiary of Company to pay dividends or make any other distributions on its
Capital Stock or to pay any Indebtedness owed to Company or a Subsidiary of Company; 

(ii)        any Subsidiary of Company to make loans or advances to Company or any of
Borrowers’ Subsidiaries; or 
  

 - 93 - 







 (iii)        Company or any of its Subsidiaries to
transfer any of its properties or assets to Company or any of its Subsidiaries, 
 except for such encumbrances or restrictions permitted under
Section 8.13. 
 6.16        Compliance With Law,
Etc.  Neither Company nor any of its Subsidiaries is in default under or in violation of any Requirement of Law or Contractual Obligation or under its Organizational Documents, as the case may be, in each case the consequences of
which default or violation, either individually or in the aggregate, would have a Material Adverse Effect. No Requirement of Law in effect on the date hereof could reasonably be expected to have a Material Adverse Effect. 

6.17        Investment Company Act.  Neither Company nor any of
its Subsidiaries is an “investment company” or a company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. 

6.18        Certain Fees.  No broker’s or finder’s fees
or commissions or any similar fees or commissions will be payable by Company or any of its Subsidiaries with respect to the incurrence and maintenance of the Obligations, any other transaction contemplated by the Loan Documents or any services
rendered in connection with such transaction. 
 6.19        Environmental
Matters.  (a)  Company and each of its Subsidiaries have complied with, and on the date of such Credit Event are in compliance with, all applicable Environmental Laws and Environmental Permits except for
such non-compliance as could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

(b)        There are no material past, pending or, to the best knowledge of Company,
threatened Environmental Claims against Company or any of its Subsidiaries or any real property owned or at any time operated by Company or any of its Subsidiaries except as could not reasonably be expected to result in liability to Company or any
of its Subsidiaries in excess of $10,000,000 and except as set forth in Schedule 6.19 hereto. 

(c)        There are no facts, circumstances, conditions or occurrences on any real
property owned or at any time operated by Company or any of its Subsidiaries or, to the best knowledge of Company, on any property adjoining any real property owned or operated by Company and its Subsidiaries that could reasonably be expected
(i) to form the basis of an Environmental Claim against Company or any of its Subsidiaries or any such real property except for Environmental Claims which could not reasonably be expected, individually or in the aggregate, to have a Material
Adverse Effect, or (ii) to cause such real property to be subject to any restrictions on the ownership, occupancy, use or transferability of such real property under any Environmental Law except as could not reasonably be expected to result in
liability to Company or any of its Subsidiaries in excess of $10,000,000 and except as set forth in Schedule 6.19 hereto. 

(d)        Contaminants have not at any time been generated, used, treated or stored on,
or transported to or from, or otherwise come to be located on any real property owned or at any time operated by Company or any of its Subsidiaries where such generation, use, treatment 

 

 - 94 - 







 
or storage has violated or could reasonably be expected to violate or create liability under any Environmental Law and result, individually or in the aggregate, in a Material Adverse Effect.

 (e)        To the knowledge of Company, Contaminants have not at any time
been Released on or from or otherwise come to be located on any real property owned or at any time operated by Company or any of its Subsidiaries where such Release has violated or could reasonably be expected to violate or create liability under
any Environmental Law and result, individually or in the aggregate, in a Material Adverse Effect. 

6.20        Labor Relations.   Neither Company nor any of its
Subsidiaries is engaged in any unfair labor practice that could reasonably be expected to have a Material Adverse Effect. There is (i) no significant unfair labor practice complaint pending against Company or any of its Subsidiaries or, to the
best knowledge of Company, threatened against any of them before the National Labor Relations Board or any similar Governmental Authority in any jurisdiction, and no significant grievance or significant arbitration proceeding arising out of or under
any collective bargaining agreement is so pending against Company or any of its Subsidiaries or, to the best knowledge of Company, threatened against any of them, (ii) no significant strike, labor dispute, slowdown or stoppage is pending
against Company or any of its Subsidiaries or, to the best knowledge of Company, threatened against Company or any of its Subsidiaries and (iii) to the best knowledge of Company, no question concerning union representation exists with respect
to the employees of Company or any of its subsidiaries, except (with respect to any matter specified in clause (i), (ii) or (iii) above, either individually or in the aggregate) such as could not reasonably be expected to have a Material
Adverse Effect. 
 6.21        Intellectual Property, Licenses, Franchises
and Formulas.   Each of Company and each of its Subsidiaries owns or holds licenses or other rights to or under all the patents, patent applications, trademarks, designs, service marks, trademark and service mark registrations and
applications therefor, trade names, copyrights, copyright registrations and applications therefor, trade secrets, proprietary information, computer programs, data bases, licenses, permits, franchises and formulas, or rights with respect to the
foregoing which are material to the business of Company and its Subsidiaries (collectively, “Intellectual Property”), and has obtained assignments of all licenses and other rights of whatever nature, material to the present conduct
of the business of Company and its Subsidiaries without any known material conflict with the rights of others. Neither Company nor any of its Subsidiaries has knowledge of any existing or threatened claim by any Person contesting the validity,
enforceability, use or ownership of the Intellectual Property, or of any existing state of facts that would support a claim that use by Company or any of its Subsidiaries of any such Intellectual Property has infringed or otherwise violated any
proprietary rights of any other Person, in each case except as could not reasonably be expected to have a Material Adverse Effect. 

6.22        Anti-Terrorism Laws.  (a) None of the Credit
Parties or, to the knowledge of any of the Credit Parties, any of their Affiliates is in violation of any laws relating to terrorism or money laundering (“Anti-Terrorism Laws”), including the regulations administered by the United
States Treasury Department’s Office of Foreign Asset Control (“OFAC”) and Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the “Executive Order”), and the Uniting and
Strengthening America by Providing Appropriate Tools Required to 
  

 - 95 - 







 
Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56 (as amended, the “Patriot Act”). 

(b)        No Credit Party or, to the knowledge of any of the Credit Parties, any of
their Affiliates or their respective brokers or other agents acting or benefiting in any capacity in connection with the Loans, is any of the following: 

(1)        a Person or entity that is listed in the annex to, or is otherwise subject to the
prohibitions contained in, the Executive Order or the OFAC regulations; 
 (2)        
a Person or entity owned or controlled by, or acting for or on behalf of, any Person or entity that is listed in the annex to, or is otherwise subject to the prohibitions contained in, the Executive Order or the OFAC regulations; 

(3)        a Person or entity with which any Lender is prohibited from dealing or otherwise
engaging in any transaction by any Anti-Terrorism Law; 
 (4)        a Person or entity
that commits, threatens or conspires to commit or supports “terrorism” as defined in the Executive Order or the OFAC regulations; or 

(5)        a Person or entity that is named on the most current list of “Specially
Designated Nationals and Blocked Persons” published by OFAC at its official website or any replacement website or other replacement official publication of such list. 

(c)        No Credit Party or to the knowledge of any Credit Party, any of its brokers or
other agents acting in any capacity in connection with the Loans (i) conducts any business or engages in making or receiving any contribution of funds, goods or services to or for the benefit of any Person described in clause (b) above,
(ii) deals in, or otherwise engages in any transaction relating to, any property or interests in property blocked pursuant to the Executive Order or the OFAC regulations, or (iii) engages in or conspires to engage in any transaction that
evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law. 

6.23        Locations of Offices, Records and
Inventory.  As of the Restatement Date, the address of the principal place of business and chief executive office of each Credit Party is set forth on Schedule 6.23. As of the Restatement Date, the books and records
of each Borrower and each Credit Party, and all of their respective chattel paper and records of Accounts, are maintained exclusively at such locations. As of the Restatement Date, there is no location at which any Credit Party has any Collateral
(except for Collateral in transit, out for repair or, with respect to de minimus amounts of Collateral otherwise offsite, in each case in the ordinary course of business) other than those locations identified on Schedule 6.23. As of the
Restatement Date, to the extent any such locations are not owned, Schedule 6.23 also sets forth the purpose of such location (e.g., warehouse, processing plant, sales office, etc.), the legal names of the owners and/or operators thereof; and
the address and phone numbers of such owners, lessors and/or operators. As of the Restatement Date, none of the receipts received by any Borrower from any warehouseman or processor states that the goods covered thereby are to be delivered to bearer
or to the order of a named person or to a named person and such named person’s assigns. Each of 
  

 - 96 - 







 
the locations set forth on Schedule 6.23 is a location owned or leased by Company or a Material Domestic Subsidiary thereof as of the Restatement Date or is a location with respect to
which Company or a Material Domestic Subsidiary thereof is party to a storage or terminaling agreement as of the Restatement Date. 

6.24        Deposit Accounts and Investment Accounts.  As
of the Restatement Date, no Borrower and no Subsidiary of any Borrower maintains or otherwise has any (a) Deposit Accounts, checking, savings or other accounts at any bank or other financial institution, (b) Securities Accounts, investment
account, securities account, commodity account or any similar account with any securities intermediary or commodity intermediary or (c) other account where money is or may be deposited or maintained with any Person except as set forth on
Schedule 6.24. As of the Restatement Date, Schedule 6.24 sets forth the name of each financial institution, securities intermediary, commodity intermediary or other Person at which any account described above is maintained, whether
such account is a Collection Account or a Concentration Account and the purpose of each such account. 

6.25        Accounts.  Each Account of each Borrower
included as an Eligible Account Receivable in the most recently delivered Borrowing Base Certificate is based on an actual and bona fide sale and delivery of goods or rendition of services to customers, made by such Borrower in the ordinary course
of its businesses; the goods and inventory being sold by any Borrower and the Accounts created thereby are the exclusive property of such Borrower and are not and shall not be subject to any Lien whatsoever other than those arising under the
Security Agreements and Permitted Liens and such Borrower’s customers are obligated to pay the full amounts stated in the invoices and included as Eligible Accounts Receivable according to their terms, without any dispute, offset, defense,
counterclaim or contra except as arising in the ordinary course of business consistent with past practices. Co-Collateral Agents may rely, in determining which Accounts are Eligible Accounts Receivable, on all statements and representations made by
each Borrower or its Subsidiaries with respect thereto. Each Borrower hereby warrants, on its own behalf and on behalf of its Subsidiaries, with respect to each Account at the time it is being shown as an Eligible Account Receivable in a Borrowing
Base Certificate, that such Account is an Eligible Account Receivable. 

6.26        Inventory.  Co-Collateral Agents may rely, in
determining which Inventory is Eligible Inventory, on all statements and representations made by each Borrower or its Subsidiaries with respect thereto. Each Borrower hereby warrants, on its own behalf and on behalf of its Subsidiaries, with respect
to any Inventory at the time it is being shown as Eligible Inventory in a Borrowing Base Certificate, that such Inventory is Eligible Inventory. 

6.27        Borrowing Base Calculation.  The calculation of
the Borrowing Base (including the valuations thereunder) pursuant to the most recent Borrowing Base Certificate delivered pursuant to Section 5.1(f)(iii) or Section 7.2(g) is complete and accurate as of the date of such
Borrowing Base Certificate (excluding any errors that are immaterial in nature). 
  

 - 97 - 







 ARTICLE VII 

AFFIRMATIVE COVENANTS 

Company hereby agrees that, so long as any Loan remains outstanding and unpaid or any other amount is owing to any Lender or
Administrative Agent hereunder, Company shall and shall cause its Subsidiaries to: 

7.1        Financial Statements.  Furnish or cause to be furnished
to each Lender: 
 (a)        Monthly Financial
Statements.  As soon as available, but in any event within thirty days after the end of each month of Company (other than the last month of any Fiscal Quarter of Company) the consolidated balance sheets of Company and its
Subsidiaries as of the end of such month, the related consolidated statements of operations, income, cash flows, retained earnings and equity, for such month and for the elapsed portion of the current Fiscal Year of Company ended with the last day
of such month, in each case setting forth comparative figures for the corresponding month in the prior Fiscal Year of Company, all of which shall be certified by a Responsible Financial Officer of Company, subject to normal year-end audit
adjustments; 
 (b)        Quarterly Financial
Statements.  As soon as available, but in any event not later than forty-five days after the end of each of the first three Fiscal Quarters of each Fiscal Year of Company, the unaudited consolidated balance sheet of Company and its
Subsidiaries as at the end of such quarter and the related unaudited consolidated statements of income, retained earnings and of cash flows of Company and its Subsidiaries for such quarter and the portion of the Fiscal Year through the end of such
quarter, in each case setting forth comparative figures for the corresponding quarter in the prior Fiscal Year, for the period from the start of each Fiscal Year to the end of such period; 

(c)        Annual Financial Statements.  As soon as available,
but in any event within ninety days after the end of each Fiscal Year of Company, a copy of the consolidated balance sheet of Company and its Subsidiaries as at the end of such year and the related consolidated statements of income, retained
earnings and of cash flows for such year, setting forth in each case in comparative form the figures for the previous year; and 
 All such
financial statements shall be complete and correct in all material respects and shall be prepared in accordance with GAAP applied consistently throughout the periods reflected therein and with prior periods (except as approved by the accountants
preparing such statements or a Responsible Financial Officer, as the case may be, and disclosed therein) and, in the case of the consolidated financial statements referred to in Section 7.1(c), accompanied by a report thereon of
independent certified public accountants of recognized national standing, which report shall contain no qualifications with respect to the continuance of Company and its Subsidiaries as going concerns and shall state that such financial statements
present fairly in all material respects the financial position of Company and its Subsidiaries as at the dates indicated and the results of their operations and cash flow for the periods indicated in conformity with GAAP and that the examination by
such accountants in connection with such financial statements has been made in accordance with GAAP. For the avoidance of doubt, if Company chooses to change its Fiscal 

 

 - 98 - 







 
Year as provided in Section 8.11, no more than 12 months shall pass between the dates on which audited financial statements are delivered pursuant to Section 7.1(c).

 7.2        Certificates; Other Information.  Furnish
or cause to be furnished to Administrative Agent for distribution to each Lender: 

(a)        Officer’s Certificates.  Concurrently with the
delivery of the financial statements referred to in Section 7.1(b) and Section 7.1(c), a certificate of Responsible Financial Officer substantially in the form of Exhibit 7.2(a) (a “Compliance
Certificate”) which shall (i) state that, to the best of such officer’s knowledge, (A) such financial statements present fairly in all material respects, in accordance with GAAP, the financial condition and results of
operations of Company and its Subsidiaries for the period referred to therein (subject, in the case of interim statements, to normal recurring adjustments) and (B) no Event of Default or Unmatured Event of Default has occurred, except as
specified in such certificate and, if so specified, the action which Company proposes to take with respect thereto, (ii) set forth detailed computations of certain covenants including a computation of Company’s Consolidated Fixed Charge
Coverage Ratio, Total Leverage Ratio and Senior Secured Net Leverage Ratio for the Test Period ending on the last day of the period for which such Compliance Certificate is being delivered and (iii) set forth the Adjustable Applicable Margins
which shall be thereafter applicable (until same are changed or cease to apply in accordance with this Agreement) based on the calculation of the Total Leverage Ratio as at the last day of the Test Period ended immediately prior to the relevant
Start Date (but determined on a Pro Forma Basis solely to give effect to all Permitted Acquisitions (if any) and all Asset Dispositions (if any) consummated on or prior to the date of delivery of such certificate and any Indebtedness
incurred, assumed or permanently repaid in connection with any Permitted Acquisition or Asset Disposition since the end of such Test Period. 

(b)        Accountant’s Statement.  Concurrently with the
delivery of the financial statements referred to in Section 7.1(c), if Grant Thornton LLP or other independent certified public accountants of nationally recognized standing (the “Auditors”) shall have obtained from the
regular audit of the business of Company, knowledge of the existence of any Event of Default or Unmatured Event of Default, they shall disclose in a written statement the existence of the Event of Default or Unmatured Event of Default and the nature
thereof, it being understood that such Auditors shall have no liability, directly or indirectly, to anyone for failure to obtain knowledge of any such Event of Default or Unmatured Event of Default (provided, no such statement shall be required in
the event the Auditors no longer provide such opinions under applicable accounting or auditing standards); 

(c)        Management Letters.  Promptly after receipt thereof, a
copy of any “management letter” received by Company or any of its Subsidiaries from its certified public accountants; 

(d)        Projections.  As soon as available and in any event
within ninety days following the first day of each Fiscal Year of Company, Projections in form reasonably satisfactory to Administrative Agent covering the four-year period beginning on the first day of such Fiscal Year of Company prepared in
reasonable detail, with appropriate presentation and discussion of the principal assumptions upon which such projections are based, which shall be 

 

 - 99 - 







 
accompanied by the statement of the chief executive officer or Chief Financial Officer of Company to the effect that, to the best of his or her knowledge, such projections are a reasonable
estimate for the periods respectively covered thereby; 

(e)        Public Filings; Reports.  Within three Business Days
after transmission or receipt thereof, copies of (i) all financial statements, filings, registrations and reports which Company may make to, or file with the SEC or any successor or analogous Governmental Authority and (ii) all material
notices and reports as Company shall send to the Term Agent; 

(f)        Tax Matters.  Within (i) five Business Days after
they are filed with the appropriate taxing authorities, if and when requested by the Administrative Agent, a copy of the state and federal income tax returns of Holdings and (ii) ten days after notice under Section 7.3(f), a duly
completed copy of IRS Form 8886 or any successor form; 

(g)        Borrowing Base Certificate.  (i)  Within
twelve Business Days after the last Business Day of each month, (ii) at any Co-Collateral Agent’s request upon the occurrence and during the continuation of an Event of Default, and (iii) if, at any time, Availability is less than the
greater of (A) 33% of the Total Commitments and (B) $50,000,000, within three Business Days after the last Business Day of each week, a borrowing base certificate in the form of Exhibit 7.2(g) (the “Borrowing Base
Certificate”) with all supporting detail as the Co-Collateral Agents may from time to time reasonably require, duly completed, detailing Company’s understanding as to which Accounts or Inventory constitute Eligible Accounts Receivable
and Eligible Inventory as of (x) with respect to Accounts, the last day of such month (in the case of clause (i) above), such date as the Co-Collateral Agents may specify in such request (in the case of clause (ii) above) or such week
(in the case of clause (iii) above) and (y) with respect to Inventory, the last day of the most recently completed month (in the case of clauses (i) and (iii) above) or such date as the Co-Collateral Agents may specify in such
request (in the case of clause (ii) above), and certified by the chief accounting officer, chief financial officer or treasurer of Company and subject only to adjustment upon completion of the normal year-end audit of physical inventory;
provided that the weekly reporting set forth in clause (iii) above shall no longer be required at such time as Availability exceeds the greater of the amounts set forth in clause (iii) above for thirty consecutive days. In addition, each
Borrowing Base Certificate shall have attached to it such additional schedules and/or other information as the Co-Collateral Agents may reasonably request; 

(h)        Past Due Accounts; etc.  At the time of delivery of
any Borrowing Base Certificate, (i) a summary aged trial balance of Accounts Receivable by customer, (ii) upon the reasonable request of the Co-Collateral Agents, a summary of accounts payable (including detail for the top fifteen vendors)
indicating which accounts payable are more than thirty days past due, (iii) a summary Inventory listing by category (in form and scope consistent with the form reviewed by the Co-Collateral Agents prior to the Restatement Date, or otherwise
satisfactory in form and scope to the Co-Collateral Agents) and (iv) a reconciliation of Accounts Receivable and Inventory to the general ledger and to the Borrowing Base Certificate delivered pursuant to clause (g) of this
Section 7.2; 
 (i)        Collateral Reporting and
Measurement. 
  

 - 100 - 







 (i)        Promptly, upon the request of the
Co-Collateral Agents from time to time, provide, and cause each of its Subsidiaries to provide, to the Co-Collateral Agents written statements listing items of Inventory and Accounts in reasonable detail as reasonably requested by the Co-Collateral
Agents; 
 (ii)        conduct or cause to be conducted (in a manner consistent with the
requirements for the physical measurement of the Inventory in connection with the Borrowers’ annual audit conducted by the Auditors) an annual physical measurement of the Inventory and, if requested by the Co-Collateral Agents, a copy of such
measurement shall be promptly supplied to the Co-Collateral Agents accompanied by a report of the value (valued at average cost) of such Inventory; and 

(iii)        upon the occurrence and during the continuance of an Event of Default, conduct such
a physical measurement of the Inventory at such other times and as of such other dates as the Co-Collateral Agents shall reasonably request; and 

(j)        Other Requested Information.  Such other information
with respect to properties, business affairs, financial condition and/or operations of Company or any of its Subsidiaries or the Collateral, including information in connection with the covenants contained in Article XIII hereof (including
any applicable accompanying calculations), as Administrative Agent or any Lender may from time to time reasonably request. 

7.3        Notices.  Promptly and in any event within five
Business Days after an officer of Company or of any of its Subsidiaries obtains knowledge thereof, give written notice to Administrative Agent (which shall promptly provide a copy of such notice to each Lender) of: 

(a)        Event of Default or Unmatured Event of Default.  The
occurrence of any Event of Default or Unmatured Event of Default, accompanied by a statement of a Responsible Financial Officer setting forth details of the occurrence referred to therein and stating what action Company proposes to take with respect
thereto; 
 (b)        Litigation and Related
Matters.  The commencement of, or any material development in, any action, suit, proceeding or investigation pending or threatened against or affecting Company or any of its Subsidiaries or any of their respective properties before
any arbitrator or Governmental Authority, (i) which could reasonably be expected to subject Company or any of its Subsidiaries to liability in excess of $5,000,000, (ii) with respect to any Document or any material Indebtedness or Capital
Stock of Company or any of its Subsidiaries or (iii) which, if determined adversely to Company or any of its Subsidiaries, could reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; 

(c)        Environmental Matters.  The occurrence of one or more
of the following environmental matters which could reasonably be expected to subject Company or its Subsidiaries to liability individually or in the aggregate in excess of $10,000,000: 

(i)        any pending or threatened Environmental Claim against Company or any of its
Subsidiaries or any real property at any time owned or operated by Company or any of its Subsidiaries; 
  

 - 101 - 







 (ii)        any condition or occurrence on or
arising from any real property at any time owned or operated by Company or any of its Subsidiaries that (y) results in noncompliance by Company or any of its Subsidiaries with any applicable Environmental Law, or (z) could reasonably be
expected to form the basis of an Environmental Claim against Company or any of its Subsidiaries or any such real property; 

(iii)        any condition or occurrence on any real property at any time owned or operated by
Company or any of its Subsidiaries that could reasonably be expected to cause such real property to be subject to any restrictions on the ownership, occupancy, use or transferability of such real property under any Environmental Law; and 

(iv)        the taking of any Remedial Action in response to the actual or alleged presence of
any Contaminant on any real property at any time owned or operated by Company or any of its Subsidiaries. 
 All such notices shall describe in
reasonable detail the nature of the Environmental Claim, investigation, condition, occurrence or Remedial Action and Company’s or such Subsidiary’s response thereto. In addition, Company will provide Administrative Agent with
(i) copies of all material written communications with any Governmental Authority relating to actual or alleged violations of Environmental Laws and all material written communications with any Person relating to Environmental Claims, in each
case, which could reasonably be expected to result in liability to Company or its Subsidiaries in excess of $5,000,000 and (ii) such detailed reports of any Environmental Claim as may reasonably be requested by Administrative Agent or any
Lender; 
 (d)        Notice of Change of Control.  Each
occasion that any Change of Control shall occur and such notice shall set forth in reasonable detail the particulars of each such occasion; 

(e)        Term Loan Credit Facility.  Promptly following the
receipt or delivery thereof, copies of any material demands or notices of default received or delivered by Company, any of its Subsidiaries, from or to any agent or lender under the Term Loan Credit Facility under or in connection with the Term Loan
Credit Facility and copies of any completed amendment, restatement, supplement or other modification to or waiver of the Term Loan Credit Facility or collateral documents related thereto entered into on or after the date hereof; 

(f)        Tax Shelter Registration.  Any action (or the
intention to take an action) inconsistent with the representation in the last sentence of Section 6.9(a). Company acknowledges and agrees that the Lenders and the Administrative Agent may treat the transactions contemplated hereby (or
any single transaction contemplated hereby) as part of a transaction that is subject to Treasury Regulation Section 1.6011-4 or Treasury Regulation Section 301.6112-1, and such Lender or Administrative Agent, as applicable, may file such
returns or maintain the lists and other records required by such Treasury Regulations. To the extent a Lender or Administrative Agent determines to maintain such list, Company and its Subsidiaries shall cooperate with the Lender and Administrative
Agent in obtaining the information required under such Treasury Regulations; 
  

 - 102 - 







 (g)        Material Adverse
Effect.  Any matter known to Company or any of its Subsidiaries that individually or in the aggregate could reasonably be expected to result in a Material Adverse Effect; and 

(h)        Casualty, Condemnation/Eminent Domain.  The occurrence
of any casualty or other damage to any Mortgaged Property in the event the cost to repair or restore the Mortgaged Property as a result of such casualty or other damage is estimated by Company to exceed $5,000,000 in the aggregate or the
commencement of any action or proceeding for the taking of a material portion of any Mortgaged Property or interest therein under power of eminent domain or condemnation or a conveyance in lieu thereof. 

7.4        Conduct of Business and Maintenance of Existence; Compliance with
Laws.  Continue to engage in business of the same general type as now conducted by it, or business reasonably related or incidental thereto, and take all reasonable action to maintain its organizational existence and all other
rights, privileges and franchises material to its and each of its Subsidiaries’ business, in each case, except as otherwise permitted pursuant to Sections 8.3 and 8.4 and comply and cause each of its Subsidiaries to comply with
all Contractual Obligations and Requirements of Law, except to the extent that failure to comply therewith could not in the aggregate reasonably be expected to have a Material Adverse Effect. 

7.5        Payment of Obligations.  Pay or discharge or otherwise
satisfy at maturity or, to the extent permitted hereby, prior to maturity or before they become delinquent, as the case may be, and cause each of its Subsidiaries to pay or discharge or otherwise satisfy at or before maturity or before they become
delinquent, as the case may be: 
 (a)        all taxes, duties, levies,
imposts, deductions, assessments, charges or withholdings imposed upon any of them or upon any of their income or profits or any of their respective properties or assets including, but not limited to, permit fees, inspection and license fees, all
water and sewer rents, all vault charges, and all other public charges, and all service charges, common area charges, private maintenance charges, utility charges and all other private charges, whether evidenced by recorded or unrecorded documents,
imposed or assessed upon the Mortgaged Property; and 
 (b)        all lawful
claims prior to the time they become a Lien (other than Permitted Liens) upon any of their respective properties or assets; 
 provided,
however, that neither Company nor any of its Subsidiaries shall be required to pay or discharge any such Indebtedness, tax, duty, levy, impost, deduction, assessment, charge, withholding or claim while the same is being contested by it in
good faith and by appropriate proceedings diligently pursued so long as Company or such Subsidiary, as the case may be, shall have set aside on its books adequate reserves in accordance with GAAP (segregated to the extent required by GAAP) with
respect thereto. 
 7.6        Inspection of Property, Books and Records;
Field Exams and Appraisals. 
 (a)        Maintain, and to cause each of
its Subsidiaries to maintain, books and records, including those pertaining to the Collateral, in such detail, form and scope as is 

 

 - 103 - 







 
consistent with good business practice. Each Borrower agrees that the Administrative Agent, the Co-Collateral Agents or their agents may enter upon the premises of such Borrower or any Subsidiary
of such Borrower at any time and from time to time, during normal business hours and upon reasonable notice under the circumstances, and at any time at all during the existence of an Unmatured Event of Default or Event of Default, in order to
conduct (or engage third parties to conduct) such field examinations, appraisals, verifications and evaluations of the Collateral, inspections or copying of any and all records pertaining thereto, and discussions of the business affairs and
prospects and financial condition of Company and its Subsidiaries with any officers, employees and directors of such Borrower or such Subsidiary or with Company’s auditors, in each case as any Co-Collateral Agent shall deem necessary or
appropriate in the exercise of its sole discretion and shall provide copies of such examinations, appraisals, verifications and evaluations to the Lenders; provided that so long as no Event of Default shall have occurred and be continuing, the
Co-Collateral Agents may only conduct (or engage third parties to conduct) one appraisal per annum and one field exam per annum at the Borrowers’ expense except that (a) if Availability falls below the greater of (i) 50% of
the Total Commitments and (ii) $50,000,000, the Co-Collateral Agents or their agent shall have the right to conduct one additional appraisal and one additional field examination per annum at the Borrowers’ expense and (b) if
Availability falls below the greater of (i) 20% of the Total Commitments and (ii) $20,000,000, the Co-Collateral Agents or their agents shall have the right to conduct up to three appraisals and two field examinations per annum
at the Borrowers’ expense. Absent the occurrence and continuation of an Event of Default, the Co-Collateral Agents or their agents shall not conduct the additional field exams or appraisals permitted under clauses (a) and (b) above
until the date that is at least three months after the date of the most recent field examination or appraisal, as applicable except at Lenders’ expense. Upon the occurrence and during the continuation of an Event of Default, the
Co-Collateral Agents or their agents may conduct, at any time, from time to time, such field examinations, appraisals, verifications and evaluations of the Collateral as any Co-Collateral Agent shall deem necessary or appropriate in the exercise of
its sole discretion at the Borrowers’ expense. 
 (b)        Give the
Collateral Agent ten days prior written notice of any change in the location of any Collateral (other than Collateral in transit or out for repair or, with respect to de minimus amounts of Collateral, otherwise offsite, in each case, in the ordinary
course of business) or in the location of its chief executive office or place of business from the locations specified in Schedule 6.23, and execute in advance of such change, and use commercially reasonable efforts to cause any relevant
counterparty to execute, and cause to be delivered to the Collateral Agent any Landlord Consents or Bailee Letters or other documents reasonably required by the Collateral Agent, all in form and substance reasonably satisfactory to the Collateral
Agent. 
 (c)        If any Inventory of a Borrower is at any time hereafter
stored or located at any warehouse not owned or leased by such Borrower, promptly, upon the Administrative Agent’s request, deliver to such warehouseman notification of the Collateral Agent’s Lien on such Inventory and shall use
commercially reasonable efforts to take such other steps as the Collateral Agent reasonably requires to perfect its Lien thereon. 
  

 - 104 - 







 (d)        Advise the Administrative Agent
promptly, in sufficient detail, of any event which singly or in the aggregate reasonably be expected to have a Material Adverse Effect on the value of the Collateral or on the Liens granted for the benefit of the Administrative Agent, the Lenders
and the Issuing Banks thereon. 
 (e)        Execute and promptly deliver, and
to cause each of its Material Domestic Subsidiaries to execute and promptly deliver, to the Administrative Agent, from time to time, solely for the Administrative Agent’s convenience in maintaining a record of the Collateral, such written
statements and schedules as the Administrative Agent may reasonably require, including those described in Section 7.1 of this Agreement, designating, identifying or describing the Collateral. The failure by any Borrower or any Material
Domestic Subsidiary of any Borrower, however, to promptly give the Agent such statements or schedules shall not affect, diminish, modify or otherwise limit the Liens on the Collateral granted pursuant to the Credit Documents. 

7.7        ERISA; Foreign Pension Plan.  (a)  As soon as
practicable and in any event within three Business Days after Company, or any of its Subsidiaries knows or has reason to know that a Termination Event has occurred with respect to any Plan (whether or not the requirement for notice of such
Termination Event has been waived by the PBGC), deliver, or cause such Subsidiary to deliver, to Administrative Agent a certificate of a responsible officer of Company or such Subsidiary, as the case may be, setting forth the details of such
Termination Event and the action, if any, which Company or such Subsidiary is required or proposes to take, together with any notices required or proposed to be given. 

(b)        Upon the request of any Lender made from time to time, deliver, or cause each
Subsidiary to deliver, to each Lender a copy of the most recent actuarial report and annual report (Form 5500) completed with respect to any Plan. 

(c)        As soon as possible and in any event within three Business Days after Company
or any of its Subsidiaries knows or has reason to know that any of the following have occurred or is reasonably likely to occur with respect to any Plan: 

(i)        such Plan has been or may be terminated, if the liability to Company or any of its
Subsidiaries with respect to such termination exceeds $2,500,000, determined on a plan termination basis using actuarial assumptions prescribed by the PBGC, or such Plan has been or may be reorganized, petitioned or declared insolvent under Title IV
of ERISA, if the liability to Company or any of its Subsidiaries with respect to such reorganization, petition or insolvency could reasonably be expected to exceed $2,500,000, 

(ii)        the Plan Sponsor intends to terminate such Plan, if the liability to Company or any
of its Subsidiaries with respect to such termination will exceed $2,500,000, 

(iii)        the PBGC has instituted or will institute proceedings under Section 515 of
ERISA to collect a delinquent contribution to such Plan or under Section 4042 of ERISA to terminate such Plan, 
  

 - 105 - 







 (iv)        that an application may be or has been
made to the Secretary of the Treasury for a waiver or modification of the minimum funding standard (including any required installment payments) or on extension of any amortization period under Section 412 of the Code, 

(v)        that Company or any of its Subsidiaries will or could reasonably be expected to incur
any liability in excess of $2,500,000 (including, but not limited to, contingent or secondary liability) to or on account of the termination or withdrawal from a Plan under Section 401(a)(29), 4971, 4975 or 4980 of the Code or Section 409
or 502(1) of ERISA, or 
 (vi)        that Company or any of its Subsidiaries or ERISA
Affiliates has or may incur any liability that could reasonably be expected to result in a Material Adverse Effect under any “employee welfare benefit plan” (within the meaning of Section 3(1) of ERISA) that provides benefits to
retired employees (other than as required by Section 601 et seq. of ERISA) or any employee pension benefit plan (as defined in Section 3(2) of ERISA), deliver, or cause such Subsidiary or ERISA Affiliate to deliver, to Administrative Agent
a written notice thereof; 
 (d)        As soon as possible and in any event
within five Business Days after Company, any of its Subsidiaries or any of their ERISA Affiliates knows or has reason to know that any of them has caused a complete withdrawal or partial withdrawal (within the meaning of Sections 4203 and 4205,
respectively, of ERISA) from any Multiemployer Plan, deliver, or cause such Subsidiary or ERISA Affiliate to deliver, to Administrative Agent a written notice thereof. 

For purposes of this Section 7.7, Company shall be deemed to have knowledge of all facts known by the Plan Administrator of any Plan of which
Company is the Plan Sponsor, and each Subsidiary of Company shall be deemed to have knowledge of all facts known by the Plan Administrator of any Plan of which such Subsidiary, respectively, is a Plan Sponsor. In addition to its other obligations
set forth in this Article VII, Company shall, and shall cause each of its Subsidiaries and ERISA Affiliates to: 

(i)        provide Administrative Agent with prompt written notice, with respect to any Plan, of
any failure to satisfy the minimum funding standard requirements of Section 412 of the Code that results in an accumulated funding deficiency in excess of $2,500,000, 

(ii)        furnish to Administrative Agent, promptly after delivery of the same to the PBGC, a
copy of any delinquency notice pursuant to Section 412(n)(4) of the Code, 

(iii)        correct any such failure to satisfy funding requirements or delinquency referred to
in the foregoing clauses (i) and (ii) within ninety days after the occurrence thereof, except where the failure to so satisfy would not reasonably be expected to have a Material Adverse Effect; 

(iv)        comply in good faith in all material respects with the requirements set forth in
Section 4980B of the Code and with Sections 601(a) and 606 of ERISA; and 

(v)        at the request of any Lender, deliver to such Lender (and a copy to Administrative
Agent) copies of the most recent annual reports, actuarial reports and notices 
  

 - 106 - 







 
received by Company or any of its Subsidiaries with respect to any Foreign Pension Plan no later than ten days after the date of such request. 

(e)        Establish, maintain and operate all Foreign Pension Plans in compliance in all
material respects with all Requirements of Law and the respective requirements of the governing documents for such Plans, including the payment of any required contributions on or before the due date for such payments, except for failures to comply
which, in the aggregate, could not be reasonably be expected to subject Company or any of its Subsidiaries to liability in excess of $2,500,000. 

7.8        Maintenance of Property,
Insurance.  (a)  Keep, and cause each of its Subsidiaries to keep, all material property, including all Mortgaged Property (including, but not limited to, equipment), useful and necessary in its business in good working
order and condition, normal wear and tear and damage by casualty or force majeure excepted, and subject to Section 8.4. 

(b)        Maintain, and shall cause each of its Subsidiaries to maintain, with
financially sound and reputable insurers, insurance with respect to its material properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such
amounts as are customarily carried under similar circumstances by such other Persons. Such insurance shall be maintained with financially sound and reputable insurers, except that a portion of such insurance program (not to exceed that which is
customary in the case of companies engaged in the same or similar business or having similar properties similarly situated) may be effected through self-insurance, provided adequate reserves therefor, in accordance with GAAP, are maintained.

 (c)        Furnish to Collateral Agent, on the Restatement Date and annually
on each date of delivery of the financial statements under Section 7.1(c), full information as to the insurance carried. All insurance policies or certificates (or certified copies thereof) with respect to such insurance: 

(i)        shall be endorsed to the Collateral Agent’s reasonable satisfaction for the
benefit of the Secured Creditors (including, without limitation, by naming the Collateral Agent as loss payee or additional insured, as appropriate); and 

(ii)        shall state that such insurance policy shall not be canceled without the
insurer’s endeavoring to provide fifteen days’ (five days in the case of cancellation due to non-payment of premiums) prior written notice thereof to the Collateral Agent. 

At any time that insurance at levels described in Schedule 7.8 is not being maintained by Company or any of its Subsidiaries, Company will notify
the Lenders in writing within five Business Days thereof. 

7.9        Environmental Laws.  (a)  Comply with, and
cause its Subsidiaries to comply with, and, in each case take reasonable steps to ensure compliance by all tenants and subtenants, if any, with, all applicable Environmental Laws and obtain and comply in all material respects with and maintain, and
take reasonable steps to ensure that all tenants and subtenants obtain and 
  

 - 107 - 







 
comply in all material respects with and maintain, any and all licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws except, in each case, to the
extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

(b)        Conduct and complete all investigations, studies, sampling and testing, and
all Remedial Actions required under Environmental Laws and promptly comply in all material respects with all lawful orders, directives and information requests of all Governmental Authorities regarding Environmental Laws except to the extent that
the same are being contested in good faith by appropriate proceedings and the pendency of such proceedings could not reasonably be expected to have a Material Adverse Effect. 

7.10        Use of Proceeds.  Use all proceeds of the Loans
as provided in Section 6.8. 
 7.11        Additional Security;
Further Assurances. 
 (a)        Additional Guarantors and
Pledgors. 
 (i)        Company agrees to cause each Material Domestic
Subsidiary to become a party to the Subsidiary Guaranty and the Security Agreement pursuant to the terms thereof promptly and in any event within thirty days of the date that such Subsidiary is acquired or otherwise becomes a Material Domestic
Subsidiary. 
 (ii)        Company agrees to cause each Subsidiary that becomes a
guarantor of obligations arising under any Permitted Junior Debt Document and that is not at such time party to the Subsidiary Guaranty to become a party to the Subsidiary Guaranty in accordance with the terms thereof. 

(b)        Pledge of New Subsidiary Stock.  Company agrees to
pledge (or to cause each Subsidiary Guarantor to pledge) (i) all of the Capital Stock of each new Material Domestic Subsidiary, (ii) 65% of the Capital Stock entitled to vote and 100% of the Capital Stock not entitled to vote of each new
Foreign Subsidiary and (iii) all of the Capital Stock of each domestic Unrestricted Subsidiary (or 65% of the Capital Stock entitled to vote and 100% of the Capital Stock not entitled to vote in the case of Foreign Subsidiaries) (in each of
(i)—(iii), directly owned by Company or a Subsidiary Guarantor), established, acquired, created or otherwise in existence after the Restatement Date to Collateral Agent for the benefit of the Secured Creditors pursuant to the terms of the
Security Agreement promptly, and in any event, within sixty days of the establishment, acquisition or creation of such new Subsidiary. Company agrees to pledge or cause each Subsidiary Guarantor to pledge, to Collateral Agent for the benefit of the
Secured Creditors pursuant to the Security Agreement, all instruments evidencing indebtedness owed by any Unrestricted Subsidiary to Company or any Domestic Subsidiary promptly and in any event within sixty days of the creation of such instruments.

 (c)        Agreement to Grant Additional
Security.  (i)  Promptly, and in any event within thirty days after the acquisition by Company or any Subsidiary Guarantor of personal property or fee interests in real property of the type that would have constituted
Collateral at the date hereof and investments of the type that would have constituted Collateral on the date hereof (other than (x) any fee interest in real property with a Fair Market Value at the

  

 - 108 - 







 
date of acquisition thereof of less than $2,000,000 or (y) assets with a Fair Market Value of less than $250,000 individually or $500,000 in the aggregate; provided that if the value
of an asset (other than as to a real property or leasehold interest) is more than $500,000, Company shall notify Collateral Agent of the acquisition of such assets and, to the extent not already Collateral in which Collateral Agent has a perfected
security interest pursuant to Security Documents, such assets will become additional Collateral hereunder to the extent Collateral Agent deems the pledge of such assets practicable) (the “Additional Collateral”), Company will, and
will cause each of its Subsidiaries to, take all necessary action, including (A) the filing of appropriate financing statements under the provisions of the UCC, applicable foreign, domestic or local laws, rules or regulations in each of the
offices where such filing is necessary or appropriate and (B) with respect to fee interests in real property, the execution of a mortgage, the obtaining of mortgagee title insurance policies, title surveys (either recent or existing) and real
estate appraisals satisfying Requirements of Law, to grant the Collateral Agent for the benefit of the Secured Creditors pursuant to the Security Documents a Lien (subject only to Permitted Liens and perfected to the extent required by the Security
Documents) in such Additional Collateral pursuant to and to the full extent required by the Security Documents and this Agreement. 

(ii)        If, following a change in the relevant sections of the Code, the regulations and
rules promulgated thereunder and any rulings issued thereunder and at the request of Collateral Agent or the Required Lenders, counsel for Company acceptable to Collateral Agent or the Required Lenders does not within thirty days after such request
deliver evidence satisfactory to Collateral Agent with respect to any Foreign Subsidiary of Company that: 

(a)        a pledge of 66% or more of the total combined voting power of all classes of capital
stock of such Foreign Subsidiary entitled to vote, 
 (b)        the entering into by
such Foreign Subsidiary of a guaranty in substantially the form of the Subsidiary Guaranty, or 

(c)        the entering into by such Foreign Subsidiary of a security agreement in substantially
the form of the Security Agreement, in either case would cause the earnings of such Foreign Subsidiary to be treated as a deemed dividend to such Foreign Subsidiary’s United States parent or would otherwise violate a material applicable law,
then 
 (1)        in the case of a failure to deliver the evidence described in clause
(a) above, that portion of such Foreign Subsidiary’s outstanding capital stock not theretofore pledged pursuant to a Security Document shall be pledged to Collateral Agent for the benefit of the Secured Creditors pursuant to a Security
Document, 
 (2)        in the case of a failure to deliver the evidence described in
clause (b) above, such Foreign Subsidiary shall execute and deliver a guaranty of the Obligations of Borrowers under the Loan Documents, and 

(3)        in the case of a failure to deliver the evidence described in clause (c) above,
such Foreign Subsidiary shall execute and deliver a Security Document granting Administrative Agent for the benefit of the Secured Creditors a security interest in all of 

 

 - 109 - 







 
such Foreign Subsidiary’s assets, in each case will all documents delivered pursuant to this Section 7.11(c) to be in form and substance satisfactory to Collateral Agent.

 (d)        Documentation for Additional
Security.  The Liens and security interests required to be granted pursuant to this Section 7.11 shall be granted pursuant to such security documentation (which shall be substantially similar to the Security Documents
already executed and delivered by Company) (the “Additional Security Documents”) reasonably satisfactory in form and substance to Collateral Agent and shall constitute valid and enforceable, with respect to real property, liens and,
with respect to all other property, security interests subject to no other Liens except Permitted Liens. The Additional Security Documents and other instruments related thereto shall be duly recorded or filed in such manner and in such places and at
such times as are required by law to establish, perfect, preserve and protect the Liens, in favor of Collateral Agent for the benefit of the Secured Creditors, required to be granted pursuant to the Additional Security Document and, all taxes,
duties, levies, imposes, deductions, assessments, charges, withholdings, fees and other charges payable in connection therewith shall be paid in full by Company. At the time of the execution and delivery of the Additional Security Documents, Company
shall cause to be delivered to Collateral Agent such agreements, opinions of counsel, and other related documents as may be reasonably requested by Collateral Agent or the Required Lenders to assure themselves that this Section 7.11 has
been complied with, provided, however, as to real property, Company shall only be required to deliver such title policies, surveys, and appraisals as are required pursuant to Section 7.11(c). 

7.12        Annual Meetings with Lenders.  Once per
calendar year (after delivery of the financial statements required to be delivered pursuant to Section 7.1(c) and the projections required to be delivered pursuant to Section 7.2) upon the reasonable request of the
Administrative Agent, Company shall hold a meeting (at a mutually agreeable location and time or at the option of the Administrative Agent, by conference call) with all of the Lenders at which meeting shall be reviewed the financial results of the
previous Fiscal Year and the financial condition of Company and its Subsidiaries. During the existence of an Event of Default or a Cash Dominion Liquidity Event or at any time that Company is subject to the requirements of Section 9.1,
Company shall hold such additional meetings with all of the Lenders as the Administrative Agent may reasonably request. 

7.13        Cash Management.  The Borrowers and their
Subsidiaries shall maintain, at one or more financial institutions selected by the Borrowers and their Subsidiaries and reasonably acceptable to the Collateral Agent, (a) one or more lockboxes and Deposit Accounts that are collection accounts
for the Accounts of the Borrowers and their Subsidiaries (the “Collection Accounts”) and (b) one or more concentration accounts (the “Concentration Accounts”). The Borrowers and their Subsidiaries shall
instruct all account debtors on the Accounts of the Borrowers and their Subsidiaries to remit all payments to one or more of such Collection Accounts or Concentration Accounts, subject to the last sentence of this Section 7.13. The
Borrowers and their Subsidiaries shall cause each Collection Account to be subject to an arrangement by which, at all times, all receipts in each Collection Account shall be transferred automatically at the end of each Business Day to one of the
Concentration Accounts and all amounts received by any Borrower or any of their Subsidiaries from any account debtor with respect to Accounts shall upon receipt be deposited on the Business Day received into a

  

 - 110 - 







 
Collection Account or Concentration Account subject to the last sentence of this Section 7.13. The requirements of this Section 7.13 shall not apply to any Deposit Account
with a balance of less than $1,000,000 at all times; provided that all such Deposit Accounts in the aggregate do not contain a collective balance in excess of $1,000,000 at any one time. 

ARTICLE VIII 

NEGATIVE COVENANTS 

Company hereby agrees that, so long as any Loan remains outstanding and unpaid or any other amount is owing to any Lender or
Administrative Agent hereunder: 

8.1        Liens.  Company shall not, nor shall it permit any of
its Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist or agree to create, incur or assume any Lien in, upon or with respect to any of its properties or assets (including, without limitation, any securities or debt
instruments of any of their Subsidiaries), whether now owned or hereafter acquired, or assign or otherwise convey any right to receive income to secure any obligation; except for the following Liens (herein referred to as “Permitted
Liens”): 
 (a)        Liens created by the Loan Documents; 

(b)        Customary Permitted Liens; 

(c)        Liens existing on the date hereof to secure Indebtedness to Remain Outstanding
listed on Schedule 8.2(i) hereto and Permitted Refinancings thereof and other Liens listed on Schedule 8.1(c) hereto; 

(d)        Liens on any property (i) securing Indebtedness incurred or assumed for
the purpose of financing all or any part of the acquisition, construction, repair or improvement cost of such property, including Capitalized Lease Obligations (or financing of the purchase price within ninety days after the respective purchase of
assets), and Permitted Refinancings thereof, (ii) securing Sale and Leaseback Transactions and Permitted Refinancings thereof, and (iii) of any Person at the time such property is acquired or such Person becomes a Subsidiary and, in each
case, within this clause (iii), not created in contemplation of or in connection with such event and Permitted Refinancings thereof; provided that in the case of each of the foregoing: 

 

	 	(x)	any such Lien does not extend to or cover any property or assets of Company or any other Credit Party other than the assets financed by such Capital Lease or
Indebtedness in the case of (i) and (ii) above or covered by such Lien at the time such property is acquired or such Person becomes a Subsidiary in the case of (iii) above, and in each case, any improvements and accessions to such
property and any replacement thereof or proceeds therefrom; 

  

	 	(y)	the Indebtedness secured by any such Lien does not exceed 100% of the Fair Market Value of such property or assets at the time of such acquisition or transaction; and


  

 - 111 - 








	 	(z)	the Indebtedness secured by any such Lien is permitted to be incurred pursuant to Section 8.2(d). 


(e)        subject to the terms of the Intercreditor Agreement, Liens on the Collateral
securing the Term Loan Credit Facility or any partial or whole Permitted Refinancing thereof; and 

(f)        additional Liens incurred by Company and its Subsidiaries so long as the value
of the property subject to such Liens, and the Indebtedness and other obligations secured thereby, do not exceed $10,000,000 in the aggregate outstanding at any time. 

8.2        Indebtedness and Disqualified Stock.  Company shall
not, nor shall it permit any of its Subsidiaries to, directly or indirectly, incur, create, assume directly or indirectly, or suffer to exist any Indebtedness (including Disqualified Stock) except: 

(a)        Indebtedness incurred pursuant to this Agreement and the other Loan Documents;

 (b)        Guarantee Obligations with respect to Indebtedness described in
clauses (c) through (j) and (m) through (o) below; 

(c)        Indebtedness under the Term Loan Credit Facility and any partial or whole
Permitted Refinancing thereof, provided that the aggregate principal amount outstanding thereunder does not exceed $280,000,000 less any mandatory prepayments required thereunder (other than pursuant to and at the time of the Permitted Refinancing);

 (d)        Indebtedness secured by Liens permitted under
Section 8.1(d) and any partial or whole Permitted Refinancing thereof; provided, that the aggregate outstanding principal amount of such Indebtedness at any time shall not, when added to Indebtedness permitted to be outstanding
pursuant to Sections 8.2(e), exceed $20,000,000; 

(e)        Indebtedness of a Subsidiary of Company issued and outstanding on or prior to
the date on which such Subsidiary was acquired by Company (other than Indebtedness issued as consideration in, or to provide all or any portion of the funds utilized to consummate the transaction or series of related transactions pursuant to which
such Subsidiary became a Subsidiary or was acquired by Company) and any partial or whole Permitted Refinancing thereof which, together with Indebtedness permitted to be outstanding pursuant to Section 8.2(d), does not exceed $20,000,000;

 (f)        Indebtedness not to exceed $2,000,000 in the aggregate at any time
arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business, or pursuant to
netting services or otherwise in connection with Deposit Accounts, in each case, so long as such Indebtedness is extinguished within five Business Days of the incurrence thereof; 

 

 - 112 - 







 (g)        Indebtedness under Interest Rate
Agreements of any duration so long as management of Company or such Subsidiary, as the case may be, has determined that entering into such Interest Rate Agreements was for bona fide (as opposed to speculative) hedging activities;

 (h)        Indebtedness under Other Hedging Agreements with a term of one
year or less in connection with Company’s or any of its Subsidiaries’ operations so long as management of Company or such Subsidiary, as the case may be, has determined that entering into such Other Hedging Agreements was for bona
fide (as opposed to speculative) hedging activities; 

(i)        Indebtedness outstanding on the date hereof and listed on Schedule 8.2(i)
hereto (“Indebtedness to Remain Outstanding”) and any partial or whole Permitted Refinancing thereof. 

(j)        Intercompany Indebtedness to the extent permitted by Section 8.7;
provided, however, that in the event of any subsequent issuance or transfer of any Capital Stock which results in the holder of such Indebtedness ceasing to be a Subsidiary of Company or any subsequent transfer of such Indebtedness
(other than to Company or any of its Subsidiaries) such Indebtedness shall be required to be permitted under another clause of this Section 8.2; provided, further, however, that (x) in the case of Intercompany
Indebtedness consisting of a loan or advance to Company or a Subsidiary Guarantor, each such loan or advance shall be subordinated to the indefeasible payment in full of all of Company’s and Subsidiary Guarantor’s Obligations pursuant to
this Agreement and the other Loan Documents and (y) in the case of Intercompany Indebtedness consisting of a loan or advance from Company or a Subsidiary Guarantor, such Indebtedness shall be evidenced by promissory notes payable to Company or
such Subsidiary Guarantor, as the case may be, in form and substance satisfactory to Administrative Agent, which promissory notes shall be delivered and pledged to Collateral Agent as part of the Collateral; 

(k)        Permitted Junior Debt of Company and Guarantee Obligations of Company’s
Subsidiaries that are Credit Parties with respect thereto, the Net Offering Proceeds of which are applied to repay the Term Loans under the Term Loan Credit Facility to the extent required thereby and any Permitted Refinancing thereof; provided,
that the terms and conditions of the Permitted Junior Debt Documents governing such Indebtedness are reasonably acceptable to Administrative Agent; 

(l)        Unsecured Indebtedness of Company or its Subsidiaries that are Credit Parties,
and Guarantee Obligations of Company or its Subsidiaries that are Credit Parties with respect thereto, provided, that (i) the Net Offering Proceeds therefrom are applied to repay the Term Loans under the Term Loan Credit Facility;
(ii) such unsecured Indebtedness satisfies clauses (ii) and (iv) of the definition of Permitted Refinancing and any partial or whole Permitted Refinancing thereof; 

(m)        Indebtedness owed to any Person providing financing for worker’s
compensation, health, disability or other employee benefits or property, casualty or liability insurance of Company or its Subsidiaries not exceeding the lesser of the amount of insurance 

 

 - 113 - 







 
premiums to be paid to such Persons for a one year period and $10,000,000 in the aggregate at any time outstanding; 

(n)        Unsecured Indebtedness of Company or its Subsidiaries that are Credit Parties
and Guarantee Obligations of Company or its Subsidiaries that are Credit Parties with respect thereto and any partial or whole Permitted Refinancing thereof, provided that such Permitted Refinancing meets the criteria set forth in this
Section 8.2(n) (“Permitted Unsecured Senior Debt”); provided that (1) no Unmatured Event of Default or Event of Default exists at the time such Indebtedness is incurred or would result therefrom; (2) the
obligors shall be Company and/or one or more of the Subsidiary Guarantors only, (3) no such Indebtedness shall be secured by any asset of Company or any of its Subsidiaries, (4) the terms of such Indebtedness do not provide for any
scheduled repayment, mandatory redemption, sinking fund obligation or maturity prior to the date occurring six months after the Expiration Date (except for any “asset sale” offer to purchase described below or any redemption upon a change
of control), (5) the terms and conditions of such Indebtedness (including, without limitation, with respect to interest rate, amortization, redemption provisions, covenants, defaults, remedies, guaranty provisions and subordination provisions,
if any) are on prevailing market terms for an offering of senior unsecured notes under Rule 144A of the Securities Act for companies similarly situated to Company, (6) any “asset sale” offer to purchase covenant included in the note
documents governing such Indebtedness shall provide that any net proceeds from asset sales may be applied to repay Indebtedness and terminate commitments under senior debt secured by the assets sold prior to the payment of or offer to purchase such
Indebtedness, (7) Company (x) shall have had a minimum Consolidated Fixed Charge Coverage Ratio of at least 1.10 to 1.00 as of the last day of the most recent Test Period for which financial statements have been delivered pursuant to
Section 7.1, recomputed on a Pro Forma Basis, and (y) shall deliver Projections in form and substance satisfactory to the Administrative Agent demonstrating a projected Consolidated Fixed Charge Coverage Ratio of at least 1.10 to 1.00 on a
Pro Forma Basis for each of the next succeeding four Fiscal Quarters, (8) any Net Offering Proceeds therefrom that do not constitute Permitted Unsecured Senior Debt Excess Proceeds shall be applied to repay Term Loans under the Term Loan Credit
Facility, and (9) Company shall have delivered to the Administrative Agent and each Lender a certificate executed by the chief executive officer or Chief Financial Officer of Company, (x) certifying to the best of such officer’s
knowledge, compliance with the requirements of preceding clauses (1) through (7), inclusive, (y) containing the calculations (in reasonable detail) required by the preceding clause (7) and as set forth in the definition of Permitted
Unsecured Senior Debt Excess Proceeds, and (z) certifying that to the best or his or her knowledge, the Projections provided in clause (7)(y) above are at the time made, based on good faith estimates and assumptions made by the management
of Company, and do not include any statements or conclusions which, at the time made, are based upon or include information known to Company to be misleading or which fail to take into account material information known to Company at such time
regarding the matters reported therein; and 
 (o)        Secured or unsecured
Indebtedness of Company not otherwise permitted hereunder not exceeding $5,000,000 in the aggregate principal amount at any time outstanding. 

8.3        Fundamental Changes.  Company shall not, nor shall it
permit any of its Subsidiaries to, merge into or consolidate with any other Person, or permit any other Person to 
  

 - 114 - 







 
merge into or consolidate with it, or liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto no Event of Default shall have occurred and be
continuing any Subsidiary of Company (a) may merge into Company in a transaction in which Company is the surviving corporation, (b) may merge into any other Credit Party in a transaction in which the surviving entity is a Credit Party,
(c) that is not a Credit Party may merge into any Subsidiary that is not a Credit Party, (d) may merge into any other Person that becomes a Credit Party in connection with a Permitted Acquisition, (e) may liquidate or dissolve if
Company determines in good faith that such liquidation or dissolution is in the best interests of Company and is not materially disadvantageous to the Lenders; provided that any such merger involving a Person that is not a Wholly-Owned Subsidiary
immediately prior to such merger shall not be permitted unless also permitted by Section 8.7, and (f) may merge with another Person in connection with an Asset Disposition permitted under Section 8.4. No Permitted MTBE
Joint Venture may merge or consolidate with Company or any of its Subsidiaries except in a transaction that is a Permitted Acquisition. 

8.4        Asset Sales.  Company shall not, nor shall it permit
any of its Subsidiaries to, consummate an Asset Disposition, except that: 

(a)        Company and its Subsidiaries may make Asset Dispositions (other than Asset
Dispositions of Accounts Receivable) for fair value; provided (i) at least 75% of the aggregate sales price from such Asset Disposition shall be paid in Cash or Cash Equivalents and (ii) the aggregate Fair Market Value of all assets
disposed of subsequent to the Restatement Date pursuant to this clause (a) plus the aggregate Fair Market Value of all the assets then proposed to be disposed of does not exceed $25,000,000 in any calendar year; and 

(b)        Company and its Subsidiaries may make an Asset Disposition of the MTBE Assets
at Fair Market Value, including the Capital Stock of any Permitted MTBE JV; provided (i) at least 75% of the aggregate sales price from such Asset Disposition shall be paid in Cash or Cash Equivalents and (ii) no Unmatured Event of
Default or Event of Default exists or would result therefrom; 
 In the event the Required Lenders waive the provisions of this
Section 8.4 with respect to the sale of any Collateral, or any Collateral is sold as permitted by Section 8.4, such Collateral shall be sold free and clear of the Liens created by the Security Documents, and Administrative
Agent shall be authorized to take any actions deemed appropriate in order to effect the foregoing. 

8.5    Restricted Payments.  Company shall not, nor shall it permit any of its
Subsidiaries to, make any Restricted Payment; provided, that: 

(a)        so long as no Event of Default or Unmatured Event of Default has occurred and
is continuing or would result therefrom, Company may make Restricted Payments in the form of, and/or may make Restricted Payments to Holdings for immediate use for: (i) the repurchase, redemption or other acquisition or retirement for value of
any Capital Stock or options, warrants or other rights to acquire Capital Stock of Holdings in connection with any management equity subscription agreement, stock option agreement, shareholders’ agreement, stock appreciation rights program,
severance agreement, employee benefit plan or agreement or similar agreement, or (ii) the repurchase for value of any Capital Stock or options, warrants or 

 

 - 115 - 







 
other rights to acquire Capital Stock of Holdings in the open market to satisfy stock options issues by Holdings that are outstanding; provided that the aggregate price paid for all such
repurchases, redemptions, acquisitions or retirements after the Restatement Date may not exceed $5,000,000 in any calendar year or $12,500,000 in the aggregate on or after the Restatement Date. 

(b)        so long as no Event of Default or Unmatured Event of Default has occurred and
is continuing, Company may make regularly scheduled interest payments on Permitted Junior Debt and any Permitted Refinancings thereof; 

(c)        Company and its Subsidiaries may defease, redeem, repurchase or otherwise
acquire Indebtedness of any Credit Party that is subordinated to the Obligations with the net cash proceeds from a substantially concurrent Permitted Refinancing of such Indebtedness; 

(d)        Company may pay Dividends to holders of any class or series of Disqualified
Stock of Company issued on or after the Restatement Date in accordance with Section 8.2 hereof; 

(e)        so long as either (1) Holdings does not (i) own any significant
assets other than Capital Stock of Company or (ii) engage in any business other than holding the Capital Stock of Company or (2) Holdings, Company and its Subsidiaries have entered into a Tax Sharing Agreement reasonably acceptable to
Administrative Agent, Company may pay cash Dividends or otherwise advance amounts to Holdings solely for the purpose of paying, so long as the proceeds thereof are promptly used by Holdings to pay (A) franchise taxes and other fees required to
maintain its legal existence, (B) federal, state and local income taxes and interest and penalties with respect thereto; provided that any refund shall be promptly returned by Holdings to Company, (C) public company listing fees to
a national securities exchange with respect to Holdings’ securities and (D) an amount not to exceed $250,000 in any calendar year to permit Holdings to pay corporate and overhead expenses incurred in the ordinary course of business; and

 (f)        Company may make Restricted Payments, in addition to any other
Restricted Payments permitted by this Agreement; provided that (i) no Event of Default or Unmatured Event of Default has occurred and is continuing or would result therefrom, (ii) the Payment Conditions have been satisfied,
(iii) such Restricted Payments are permitted under the Term Loan Credit Facility in effect at such time, or any Permitted Refinancing thereof in effect at such time and (iv) Company shall have delivered to the Administrative Agent and each
Lender a certificate executed by the chief executive officer or Chief Financial Officer of Company, certifying to the best of such officer’s knowledge, Company’s compliance with the requirements of this Section 8.5(f), including
calculations (in reasonable detail) demonstrating such compliance and, to the extent applicable, certifying that to the best of his or her knowledge, any Projections provided in connection with such calculations are, at the time made, based on good
faith estimates and assumptions made by the management of Company. 

8.6        Issuance of Subsidiary Stock.  Company shall not, nor
shall it permit any of its Subsidiaries to, directly or indirectly, issue, sell, assign, pledge or otherwise encumber or dispose 

 

 - 116 - 







 
of any shares of Capital Stock of any Subsidiary of Company, except (i) to Company, (ii) to another Wholly-Owned Subsidiary of Company that is not an Unrestricted Subsidiary,
(iii) to qualify directors if required by applicable law or similar de minimus issuances of Capital Stock to comply with Foreign Requirements of Law, or (iv) pursuant to employee stock ownership or employee benefit plans in effect on the
date hereof; provided, that, in the case of issuances of preferred stock by a Subsidiary of Company, any subsequent issuance or transfer of Capital Stock that results in any such preferred stock being held by a Person other than Company or a
Wholly-Owned Subsidiary of Company shall be deemed to constitute an issuance of Capital Stock that was not permitted by this Section 8.6. Notwithstanding the foregoing, Company or is Subsidiaries shall be permitted to sell 100% of the
outstanding Capital Stock of any Subsidiary, but not less than 100% of such Capital Stock, subject to Section 8.4. 

8.7        Loans, Investments and Acquisitions.  Company shall
not, nor shall it permit any of its Subsidiaries to, make any loans or make or own any Investments or make any Acquisitions except: 

(a)        Company and its respective Subsidiaries may acquire and hold Cash and Cash
Equivalents; 
 (b)        Investments existing on the date hereof and
identified on Schedule 8.7, without giving effect to any additions thereto or replacements thereof; 

(c)        advances by Company or its Subsidiaries made to employees in the ordinary
course of business in an aggregate principal amount not exceeding $1,000,000 to any one Person or $3,000,000 in the aggregate at any one time outstanding; 

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

(e)        Company may enter into Interest Rate Agreements in compliance with
8.2(g) and Other Hedging Agreements in compliance with Section 8.2(h); 

(f)        pledges or deposits made in the ordinary course of business; 

(g)        Investments by Company and each of its Subsidiaries in the Capital Stock of a
Person who is a Domestic Subsidiary immediately before and after such Investment; provided, that (i) the requirements of Section 7.11 are satisfied, and (ii) the amount of such Investments by Credit Parties in
Subsidiaries that are not Credit Parties, plus the amount of all loans, contributions to capital, Guarantee Obligations and advances referred to in clause (h) below that are made by Credit Parties to Subsidiaries that are not Credit Parties,
shall not exceed in the aggregate at any time outstanding $5,000,000; 

(h)        Investments constituting loans, Guarantee Obligations or advances made by
Company to any of its Subsidiaries or made by any of its Subsidiaries to Company or any other Subsidiary, provided, that any such loans and advances made by a Credit Party shall be 

 

 - 117 - 







 
evidenced by a promissory note pledged pursuant to a Security Document and the amount of all such loans, contributions to capital, Guarantee Obligations and advances by Credit Parties to
Subsidiaries that are not Credit Parties shall not exceed the limitations set forth in clause (g) above or clause (j) below, as applicable; 

(i)        Company or any other Credit Party may make Permitted Acquisitions; 

(j)        Foreign Investments in an aggregate amount not to exceed in the aggregate at
any time outstanding $5,000,000; provided, that the aggregate amount of Foreign Investments may not be increased at any time that an Event of Default or Unmatured Event of Default exists and is continuing or would result therefrom;

 (k)        Company and each of its Subsidiaries may acquire and hold debt
securities and other non-cash consideration as partial consideration for an Asset Disposition permitted pursuant to Section 8.4; 

(l)        Investments in any Permitted MTBE Joint Venture consisting of all or part of
the MTBE Assets; 
 (m)        Investments the sole consideration for which are
Capital Stock (other than Disqualified Stock) of Holdings; 

(n)        Guarantee Obligations permitted under Section 8.2; and 

(o)        Company may make loans, Permitted Acquisitions and other Investments in
addition to any other loans, Permitted Acquisitions and other Investments permitted by this Agreement; provided that (A) no Event of Default or Unmatured Event of Default has occurred and is continuing or would result therefrom,
(B) the Payment Conditions have been satisfied, (C) such loans, Permitted Acquisitions and other Investments are permitted under the Term Loan Credit Facility in effect at such time, or any Permitted Refinancing thereof in effect at such
time and (D) Company shall have delivered to the Administrative Agent and each Lender a certificate executed by the chief executive officer or Chief Financial Officer of Company, certifying to the best of such officer’s knowledge,
Company’s compliance with the requirements of this Section 8.7(o), including calculations (in reasonable detail) demonstrating such compliance. 

8.8        Transactions with Affiliates.  Company shall not, nor
shall it permit any of its Subsidiaries to, directly or indirectly, enter into or permit to exist any transaction (including, without limitation, the purchase, sale, lease or exchange of any property or the rendering of any service) with or for the
benefit of any of Company’s Affiliates (an “Affiliate Transaction”), other than transactions that are on terms fair and reasonable to Company or to any such Subsidiary and no less favorable to Company or to such Subsidiary than
those that might reasonably have been obtained in a comparable transaction on an arm’s-length basis from a Person that is not an Affiliate. In addition to the foregoing with respect to any Affiliate Transaction or series of Affiliate
Transactions involving a value or aggregate payments of $10,000,000 or more, the determination that such Affiliate Transaction or series of Affiliate Transactions is or are on terms that are fair and reasonable to Company or to any its Subsidiaries
and is or are on terms that are no less favorable to Company or to such Subsidiary than those that might reasonably have been 
  


 - 118 - 







 
obtained in a comparable transaction on an arm’s-length basis from a Person that is not an Affiliate will be made, prior to the consummation of any such Affiliate Transaction or series of
Affiliate Transactions, reasonably and in good faith by a majority of the members of the Board of Directors of Company and of such Subsidiary, as the case may be, and evidenced by a Board of Directors resolution delivered to Administrative Agent.

 The foregoing restrictions will not apply to: 

(1)        reasonable and customary directors’ fees, indemnification and
similar arrangements and payments thereunder; 
 (2)        loans or
advances to officers of Company and of its Subsidiaries for bona fide business purposes of Company or of such Subsidiary not to exceed $3,000,000 in the aggregate at any one time outstanding for Company and its Subsidiaries;

 (3)        any transaction between Company and any Wholly-Owned
Subsidiary of Company to the extent that any such transaction is otherwise in compliance with the terms of this Agreement; 

(4)        Restricted Payments that do not violate Section 8.5
hereof or Investments that do not violate Section 8.7(n) hereof; or 

(5)        issuances of Capital Stock of Company to the extent permitted pursuant
to Section 8.6. 
 8.9        Intentionally Omitted.

 8.10        Lines of Business. Company shall not, nor shall
it permit any of its Subsidiaries to, enter into or acquire any line of business which is not reasonably related to the business engaged in as of the date hereof. Company shall not permit any MTBE Subsidiary to enter into or acquire any line of
business or assets other than MTBE Assets. 
 8.11        Fiscal
Year. Company will not, and will not permit any of its Subsidiaries to, change their Fiscal Year; provided, that, at any time on or prior to December 31, 2010, Company may, in which case Company will also require each
Subsidiary to, permanently change its Fiscal Year to an accounting period that begins on
January 1st (or
July 1st in the case of the initial Fiscal Year in
which such change occurs) and ends on December 31st.

 8.12         Limitation on Voluntary Payments and Modifications of
Indebtedness; Modifications of Certificate of Incorporation, By-Laws and Certain Other Agreements; Certain Derivative Transactions; etc. Company shall not, nor shall it permit any of its Subsidiaries to: 

(a)        make (or give any notice in respect of) any voluntary or optional payment or
prepayment on or redemption or acquisition for value of (including, without limitation, by way of depositing with the trustee with respect thereto or any other Person money or securities 

 

 - 119 - 







 
before due for the purpose of paying when due) any Indebtedness that is either subordinate or junior in right of payment to the Obligations other than pursuant to a Permitted Refinancing or as
permitted pursuant to Section 8.5; 
 (b)        amend, terminate or
modify, or permit the amendment, termination or modification of, any provision of any documents governing the Indebtedness described in clause (a) above, the Term Loan Credit Facility or the Intercreditor Agreement in a manner adverse to the
interests of the Lenders (including specifically to shorten any maturity or the Weighted Average Life to Maturity, require any payment sooner than previously scheduled, increase the principal amount due thereunder or the interest rate or fees
applicable thereto, alter the redemption provisions or price or terms at which such Indebtedness in required to be purchased, cause affirmative or negative covenants to be more restrictive than those originally contained in such documents or provide
for any additional guarantor with respect thereto unless such Person becomes a Guarantor); 

(c)        amend, modify or change in any way adverse to the interests of the Lenders,
its Organizational Documents (including, without limitation, by filing or modification of any certificate of designation) or by-laws, any Tax Sharing Agreement referred to in Section 8.5(e) or any agreement entered into by it, with
respect to its Capital Stock (including any shareholders’ agreement), or enter into any new agreement with respect to its Capital Stock which in any way could be adverse to the interests of the Lenders; 

(d)         enter into or maintain outstanding any derivative transaction or similar
transaction obligating Company or any of its Subsidiaries to make any payment (other than a payment which may only be made in Ordinary Equity Interests or Permitted Preferred Stock) to any Person as a result of any change in value or market price of
Capital Stock of Company; or 
 (e)        make (or give any notice in respect
of) any voluntary or optional payment or prepayment on or voluntary or optional repurchase of Indebtedness under the Term Loan Facility (other than pursuant to a Permitted Refinancing) unless the Payment Conditions have been satisfied. 

8.13        Limitation on Certain
Restrictions.    Company shall not, nor shall it permit any of its Subsidiaries, to (a) create or otherwise cause or permit to exist or become effective any consensual encumbrance or restriction on the ability of
Company or any of its Subsidiaries to (i) pay dividends or make any other distributions on its Capital Stock or pay any Indebtedness or other obligation owed to Company or any of its other Subsidiaries, (ii) make any loans or advances to
Company or any of its Subsidiaries, or (iii) transfer any of its property or assets to Company or any of its Subsidiaries or (b) become a party to any agreement, note, indenture or other instrument or take any other action which would
prohibit the creation of a Lien on any of its properties or other assets in favor of Collateral Agent to the benefit of the Secured Creditors, as collateral for the Obligations; provided that this Section 8.13 shall not apply to
(i) restrictions and conditions imposed by Requirements of Law, or by any Loan Document, (ii) restrictions and conditions in any agreement or contract existing on the Restatement Date and any amendments, modifications, restatements,
renewals or replacements thereof that are not more restrictive, taken as a whole, than the restrictions existing on the Restatement Date, (iii) customary restrictions and 

 

 - 120 - 







 
conditions contained in agreements relating to the sale of a Subsidiary or asset pending such sale; provided, that such restrictions and conditions apply only to the Subsidiary or asset that is
to be sold and such sale is permitted hereunder, (iv) restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets
securing such Indebtedness, (v) customary non-assignment provisions in any contract, easement or lease (including with respect to leases, restrictions on sub-letting), (vi) restrictions or conditions contained in any trading, netting,
operating, construction, service, supply, purchase, sale or similar agreement to which Company or any Subsidiary is a party and which is entered into in the ordinary course of business; provided, that such agreement prohibits the encumbrance of
solely the property or assets of Company or such Subsidiary that are the subject of such agreement, the payment rights arising thereunder and/or the proceeds thereof and not to any other asset or property of Company or such Subsidiary or the assets
or property of any other Credit Party or Subsidiary of a Credit Party and (vii) restrictions contained in documents evidencing Indebtedness existing at the time at which any such Person first becomes a Subsidiary, so long as such restriction
applies only to such Subsidiary and its assets and was not agreed to or entered into solely in contemplation of such change in status, and any amendments, modifications, restatements, renewals or replacements thereof that are not more restrictive,
taken as a whole, than the restrictions existing at the time such Person first becomes a Subsidiary. 

8.14        Control Agreements.  The Borrowers and their
Subsidiaries shall not permit any of their Deposit Accounts and Securities Accounts at any time to have a principal balance in excess of $1,000,000 per account unless such Borrower or Subsidiary, as the case may be, has (a) executed and
delivered to Collateral Agent a Control Agreement, and (b) taken all other steps necessary or, in the reasonable opinion of Collateral Agent, desirable to ensure that Collateral Agent has a perfected security interest in such account;
provided that, if such Borrower or Subsidiary is unable to obtain a Control Agreement from the financial institution at which the Deposit Account or Securities Account is maintained with a balance in excess of $1,000,000, such Borrower shall,
or shall cause such Subsidiary to, transfer all amounts in the applicable account to an account maintained at a financial institution from which a Borrower or Subsidiary has obtained a Control Agreement. The Borrowers and their Subsidiaries shall
not permit the aggregate amount on deposit in all Deposit Accounts and Securities Accounts of the Borrowers and their Subsidiaries that are not subject to a Control Agreement at any time to exceed $2,000,000. Notwithstanding the foregoing, all
of the Borrowers’ and their Subsidiaries’ payroll accounts, employee benefits accounts and Disbursement Accounts shall be exempt from the requirements of this Section 8.14. 

8.15        No Excess Cash.  Company shall not, nor shall
it permit any of its Domestic Subsidiaries to, directly or indirectly, maintain in the aggregate in all of the accounts described in Schedule 6.24, or otherwise, total cash balances and Cash Equivalents in excess of $15,000,000 for more than
three consecutive Business Days during which any Loans are outstanding. 

8.16        New Collateral Locations.  Company shall not,
nor shall it permit any of its Subsidiaries to, open or establish any new location within the United States or Canada unless such Person (a) provides the Administrative Agent with ten days prior written notice of any such new location,
(b) delivers to the Collateral Agent, duly executed by the appropriate Person(s) 
  

 - 121 - 







 
where applicable, such agreements, documents and instruments as the Collateral Agent shall reasonably require to protect the Collateral Agent’s interest in the Collateral at such location
and (c) delivers to the Administrative Agent such amendments to Schedule 6.23 as are required to make such disclosures complete and accurate. 

8.17        Receivables Financing Programs.  Company shall
not, nor shall it permit any of its Subsidiaries to, sell, pledge, transfer or otherwise dispose of any of its Accounts, make any Investments or Restricted Payments or incur Indebtedness in connection with a receivables financing or securitization
program. 
 ARTICLE IX 

FINANCIAL COVENANTS 

Company hereby agrees that, so long as any Loan remains outstanding and unpaid or any other amount is owing to any Lender or
Administrative Agent hereunder: 
 9.1        Minimum Consolidated Fixed
Charge Coverage Ratio.  If, at any time during any Fiscal Quarter, Availability is less than the greater of (i) 15% of the Total Commitments and (ii) $15,000,000, Company shall have had, at the end of the most
recently completed Test Period for which a Compliance Certificate has been delivered pursuant to Section 7.2(a), a Consolidated Fixed Charge Coverage Ratio of not less than 1.10 to 1.00. Such requirement for the Consolidated Fixed Charge
Coverage Ratio shall remain unless and until Availability exceeds the greater of clauses (i) and (ii) above for thirty consecutive days. 

ARTICLE X 

EVENTS OF DEFAULT 

10.1        Events of Default.  Any of the following events, acts,
occurrences or state of facts shall constitute an “Event of Default” for purposes of this Agreement: 

(a)        Failure to Make Payments When Due.  Any Credit Party
(i) shall default in the payment of principal on any of the Loans, or (ii) shall default in the payment of interest on any of the Loans or default in the payment of any fee or any other Obligation owing hereunder or under any other Loan
Document when due and such default in payment shall continue for three Business Days; or 

(b)         Representations and Warranties.  Any representation
or warranty made or deemed made by any Credit Party contained in any Loan Document or any document, instrument or certificate delivered pursuant hereto or thereto shall have been incorrect in any material respect when made or deemed made, or

 (c)         Covenants.  Any Credit Party shall
default in the performance or observance of any term, covenant, condition or agreement on its part to be performed or observed (i) under Article VIII or Article IX hereof or Sections 7.3(a) and 7.4, (ii) under
Sections 7.2(g) or 7.3(g) and such default shall continue unremedied for a period of one Business Day, 

 

 - 122 - 







 
(iii) under Sections 7.2(a), 7.2(d), 7.2(h), 7.2(i), 7.6(a), 7.8 or 7.11 and such default shall continue unremedied for a period of five Business
Days after the earlier of a Responsible Officer of Company becoming aware of such default or written notice to Company by Administrative Agent or any Lender, (iv) under Section 7.1 and such default shall continue unremedied for a
period of fifteen days after the earlier of a Responsible Officer of Company becoming aware of such default or written notice to Company by Administrative Agent or any Lender or (v) under any other term, covenant or agreement contained in this
Agreement and such default shall continue unremedied for a period of thirty days after the earlier of any Responsible Officer of Company becoming aware of such default or written notice to Company by Administrative Agent or any Lender; or

 (d)        Default Under Other Loan Documents.  Any
Credit Party shall default in the performance or observance of any term, covenant, condition or agreement on its part to be performed or observed hereunder or under any Loan Document (and not constituting an Event of Default under any other clause
of this Section 10.1) and such default shall continue unremedied for a period of thirty days after the earlier of any Responsible Officer of Company becoming aware of such default or written notice thereof has been given to Company by
Administrative Agent; or 
 (e)        Voluntary Insolvency,
Etc.  Company or any of its Subsidiaries shall become insolvent or generally fail to pay, or admit in writing its inability to pay, its debts as they become due, or shall voluntarily commence any proceeding or file any petition
under any bankruptcy, insolvency or similar law in any jurisdiction or seeking dissolution or reorganization or the appointment of a receiver, trustee, custodian, court appointed monitor, administrator, administrative receiver, liquidator or other
similar official for it or a substantial portion of its property, assets or business or to effect a plan or other arrangement with its creditors, or shall file any answer admitting the jurisdiction of the court and the material allegations of an
involuntary petition filed against it in any bankruptcy, insolvency or similar proceeding in any jurisdiction, or shall be adjudicated bankrupt, or shall make a general assignment for the benefit of creditors, or shall consent to, or acquiesce in
the appointment of, a receiver, trustee, custodian, court appointed monitor, administrator, administrative receiver, liquidator or other similar official for a substantial portion of its property, assets or business, shall call a meeting of its
creditors with a view to arranging a composition or adjustment of its debts or shall take any corporate action authorizing any of the foregoing; or 

(f)        Involuntary Insolvency, Etc.  Involuntary proceedings
or an involuntary petition shall be commenced or filed against Company or any of its Subsidiaries under any bankruptcy, insolvency or similar law in any jurisdiction or seeking the dissolution or reorganization of it or the appointment of a
receiver, trustee, custodian, court appointed monitor, administrator, administrative receiver, liquidator or other similar official for it or of a substantial part of its property, assets or business or to effect a plan or other arrangement with its
creditors, or any writ, judgment, warrant of attachment, execution or similar process shall be issued or levied against a substantial part of its property, assets or business, and such proceedings or petition shall not be dismissed, or such writ,
judgment, warrant of attachment, execution or similar process shall not be released, vacated or fully bonded, within sixty days after 

 

 - 123 - 







 
commencement, filing or levy, as the case may be, or any order for relief shall be entered in any such proceeding; or 

(g)        Default Under Other
Agreements.  (i)  Any Credit Party shall default in the payment when due, whether at stated maturity or otherwise, of any Indebtedness (other than Indebtedness owed to the Lenders under the Loan Documents) in
excess of $10,000,000 in the aggregate beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created, or (ii) a default shall occur in the performance or observance of any agreement or
condition to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to
permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause (determined without regard to whether any notice of acceleration or similar notice is required), any such Indebtedness to become
due or be repaid prior to its stated maturity or (iii) any such Indebtedness of any Credit Party shall be declared to be due and payable, or required to be prepaid other than by a regularly scheduled required payment or mandatory prepayment
arising other than due to the existence of a default, prior to the stated maturity thereof; or 

(h)        Invalidity of Subordination or Intercreditor
Provisions.  The subordination provisions of any agreement or instrument governing any Permitted Junior Debt, or any other documents evidencing, guaranteeing or otherwise governing subordinated Indebtedness or any Indebtedness
which refinances such Indebtedness is for any reason revoked or invalidated, or otherwise ceases to be in full force and effect, or any provision of the Intercreditor Agreement is for any reason revoked or invalidated or otherwise ceases to be in
full force or effect or any Person contests in any manner the validity or enforceability thereof or denies that it has any further liability or obligation thereunder, or the Loans and the other Obligations hereunder entitled to receive the benefits
of any Loan Document is for any reason subordinated or does not have the priority contemplated by this Agreement or such lien subordination provisions or Intercreditor Agreement; or 

(i)         Judgments.  One or more judgments or decrees shall be
entered against any Credit Party involving, individually or in the aggregate, a liability (to the extent not paid or covered by an insurance company which has accepted liability in writing) of $5,000,000 or more and all such judgments or decrees
shall not have been vacated, discharged, satisfied, stayed or bonded pending appeal within sixty days from the entry thereof; or 

(j)        Security Documents.  At any time after the execution
and delivery thereof, any of the Security Documents shall cease to be in full force and effect or shall cease to give Collateral Agent for the benefit of the Secured Creditors the Liens, rights, powers and privileges purported to be created thereby
(including, without limitation, a perfected security interest in, and Lien on, all of the Collateral which the terms of the applicable Security Document require to be perfected), in favor of Collateral Agent, superior to and prior to the rights of
all third Persons and subject to no other Liens (except to the extent expressly permitted herein or therein); or 
  

 - 124 - 








(k)        Guaranties.  Any Subsidiary Guaranty or any provision
thereof shall (other than as a result of the actions taken by Administrative Agent or the Lenders to release such Subsidiary Guaranty) cease to be in full force and effect in accordance with its terms, or any Subsidiary Guaranty or any Person acting
by or on behalf of such Subsidiary Guarantor shall deny or disaffirm such Subsidiary Guarantor’s obligations under any Subsidiary Guaranty; or 

(l)        Employee Benefit Plans.  (i)  Either
(a) any Termination Event shall have occurred, (b) a trustee shall be appointed by a United States District Court to administer any Plan or Multiemployer Plan, (c) the PBGC institutes proceedings to terminate any Plan or
Multiemployer Plan or to appoint a trustee to administer any Plan, (d) Company or any of its Subsidiaries shall become liable to the PBGC or any other party under Section 4062, 4063 or 4064 of ERISA with respect to any Plan, or
(e) Company or any of its Subsidiaries fails to make a deficit reduction contribution required under Code Section 412(l) to any Plan by the due date for such contribution, and, as of the date thereof or any subsequent date, the sum of each
of Company’s and its Subsidiaries’ various liabilities (such liabilities to include, without limitation, any liability to the PBGC or to any other party under Section 4062, 4063 or 4064 of ERISA with respect to any Plan, or to any
Multiemployer Plan under Section 4201 et seq. of ERISA) as a result of such events listed in subclauses (a) through (e) of this clause (i) exceeds $10,000,000 in the aggregate; or (ii) either (a) a foreign
governmental authority has instituted proceedings to terminate a Foreign Pension Plan or a foreign governmental authority has appointed a trustee to administer any Foreign Pension Plan in place of the existing administrator, in each case by reason
of a distress termination within the meaning of Section 4041(c) of ERISA, treating such Foreign Pension Plan as if it were subject to ERISA; or (b) any Foreign Pension Plan that is required by applicable law to be funded in a trust or
other funding vehicle has failed to comply with such funding requirements, and, as of the date thereof or as of any subsequent date, the sum of each of Company’s and its Subsidiaries’ various liabilities to any Foreign Pension Plan solely
as a result of the occurrence of such events listed in subclauses (a) and (c) of this clause (ii) exceeds $10,000,000 in the aggregate; 

(m)        Dissolution.  Any order, judgment or decree
shall be entered against Company or any of its Subsidiaries decreeing its involuntary dissolution or split up and such order shall remain undischarged and unstayed for a period in excess of sixty days; or Company or any Subsidiaries shall otherwise
dissolve or cease to exist except as specifically permitted by this Agreement; or 

(n)        Change of Control.  There shall occur a Change
of Control. 
 If any of the foregoing Events of Default shall have occurred and be continuing, Administrative Agent, at the
written direction of the Required Lenders, shall take one or more of the following actions as directed by Required Lenders: (i) by written or oral or telephonic notice (in the case of oral or telephonic notice confirmed in writing immediately
thereafter) to Company declare all or any part of the Commitments to be terminated whereupon the Commitments (or the part thereof so declared) shall forthwith terminate, (ii) by written or oral or telephonic notice (in the case of oral or
telephonic notice confirmed in writing immediately thereafter) to Company declare all or any part of the sums then owing by each Credit Party hereunder and under the Loan Documents to be forthwith due and payable, whereupon all such sums shall
become and be 
  

 - 125 - 







 
immediately due and payable without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by Company on behalf of itself and its Subsidiaries, or
(iii) terminate any Letter of Credit in accordance with its terms, (iv) direct Company to pay (and Company agrees that upon receipt of such notice, or upon the occurrence of any Event of Default specified in Section 10.1(e) or
Section 10.1(f) with respect to Company it will pay) to Administrative Agent at the Payment Office such additional amount of cash or Cash Equivalents in an amount equal to 105% of the Letter of Credit Obligations, to be held as security
by Collateral Agent, and (v) enforce, as Collateral Agent, all of the Liens and security interests created pursuant to the Security Documents. In cases of any occurrence of any Event of Default described in Section 10.1(e) or
Section 10.1(f), the Loans, together with accrued interest thereon, shall become due and payable forthwith without the requirement of any such acceleration or request, and without presentment, demand, protest or other notice of any kind,
all of which are expressly waived by Company on behalf of itself and its Subsidiaries, any provision of this Agreement or any other Loan Document to the contrary notwithstanding, and other amounts payable by each Credit Party hereunder shall also
become immediately due and payable all without notice of any kind. 
 Anything in this Section 10.1 to the contrary
notwithstanding, Administrative Agent shall, at the request of the Required Lenders, rescind and annul any acceleration of the Loans by written instrument filed with Company; provided that at the time such acceleration is so rescinded and annulled:
(A) all past due interest and principal, if any, on the Loans and all other sums payable under this Agreement and the other Loan Documents shall have been duly paid, and (B) no other Event of Default shall have occurred and be continuing
which shall not have been waived in accordance with the provision of Section 12.1 hereof. 

10.2        Rights Not Exclusive.  The rights provided for in this
Agreement and the other Loan Documents are cumulative and are not exclusive of any other rights, powers, privileges or remedies provided by law or in equity, or under any other instrument, document or agreement now existing or hereafter arising.

 ARTICLE XI 

THE AGENTS 

In this Article XI, the Lenders and Administrative Agent agree among themselves (and no Credit Party shall have any rights as a
third party beneficiary of such provisions) as follows: 

11.1        Appointment of Administrative Agent.  Each of the
Lenders hereby appoint DB to act on its behalf as Administrative Agent hereunder and under all applicable Security Documents (for purposes of this Agreement, the term “Administrative Agent” shall include DB in its capacity as Collateral
Agent pursuant to the Security Documents and the Intercreditor Agreement) to act as herein specified herein and in the other Loan Documents. Each Lender hereby irrevocably authorizes and each holder of any Note by the acceptance of such Note shall
be deemed to irrevocably authorize Administrative Agent to take such action on its behalf under the provisions hereof, the other Loan Documents (including, without limitation, to give notices 

 

 - 126 - 







 
and take such actions on behalf of the Required Lenders as are consented to in writing by the Required Lenders) and any other instruments, documents and agreements referred to herein or therein
and to exercise such powers hereunder and thereunder as are specifically delegated to Administrative Agent by the terms hereof and thereof and such other powers as are reasonably incidental thereto. Administrative Agent may perform any of its duties
hereunder and under the other Loan Documents, by or through its officers, directors, agents, employees or affiliates. 

11.2        Nature of Duties.  Agents shall have no duties or
responsibilities except those expressly set forth in this Agreement or the other Loan Documents, as applicable. The duties of each Agent shall be mechanical and administrative in nature. EACH LENDER HEREBY ACKNOWLEDGES AND AGREES THAT AGENTS
SHALL NOT HAVE, BY REASON OF THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, A FIDUCIARY RELATIONSHIP TO OR IN RESPECT OF ANY LENDER. Nothing in any of the Loan Documents, expressed or implied, is intended to or shall be so construed as to impose
upon any Agent any obligations in respect of any of the Loan Documents except as expressly set forth herein or therein. Each Lender shall make its own independent investigation of the financial condition and affairs of the Credit Parties in
connection with the making and the continuance of the Loans hereunder and shall make its own appraisal of the credit worthiness of the Credit Parties, and no Agent shall have any duty or responsibility, either initially or on a continuing basis, to
provide any Lender with any credit or other information with respect thereto, whether coming into its possession before making of the Loans or at any time or times thereafter. Each Agent, as applicable, will promptly notify each Lender at any time
that the Required Lenders have instructed it to act or refrain from acting pursuant to Article X. 

11.3        Exculpation, Rights, Etc.  No Agent nor any of their
respective officers, directors, agents employees or affiliates shall be liable for any action taken or omitted by them hereunder or under any of the other Loan Documents, or in connection herewith or therewith, unless caused by its or their gross
negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and non-appealable decision). Agents shall not be responsible to any Lender for any recitals, statements, representations or warranties herein or for the
execution, effectiveness, genuineness, validity, enforceability, collectability, or sufficiency of any of the Loan Documents or any other document or the financial condition of any Credit Party or any of its Subsidiaries. Agents shall not be
required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Agreement or any of the other Loan Documents or any other Document or the financial condition of any Credit Party, or
the existence or possible existence of any Unmatured Event of Default or Event of Default unless requested to do so by the Required Lenders. Each Agent may at any time request instructions from the Lenders with respect to any actions or approvals
(including the failure to act or approve) which by the terms of any of the Loan Documents, such Agent is permitted or required to take or to grant, and if such instructions are requested, such Agent shall be absolutely entitled to refrain from
taking any action or to withhold any approval and shall not be under any liability whatsoever to any Person for refraining from any action or withholding any approval under any of the Loan Documents until it shall have received such instructions
from the Required Lenders or all Lenders, as applicable. Without limiting the foregoing, no Lender shall have any right of action whatsoever against any Agent as a result of any Agent acting, approving

  

 - 127 - 







 
or refraining from acting or approving under any of the Loan Documents in accordance with the instructions of the Required Lenders or, to the extent required by Section 12.1, all of
the Lenders. 
 11.4         Reliance.   Each Agent shall
be entitled to rely, and shall be fully protected in relying, upon any notice, writing, resolution notice, statement, certificate, order or other document (including any electronic message, internet or intranet website posting or other distribution)
or any telephone, telex, teletype or telecopier message believed by it to be genuine and correct and to have been signed, sent or made by the proper Person, and, with respect to all matters pertaining herein or to any of the other Loan Documents and
its duties hereunder or thereunder, upon advice of counsel selected by such Agent. 

11.5        Indemnification.  To the extent any Agent is not, for
any reason, indefeasibly reimbursed and indemnified by the Borrowers as required pursuant to Section 12.4, the Lenders will reimburse and indemnify such Agent for and against any and all liabilities, obligations, losses, damages, claims,
penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against such Agent, acting pursuant hereto in such capacity in any way relating to or arising
out of this Agreement or any of the other Loan Documents or any action taken or omitted by such Agent under this Agreement or any of the other Loan Documents, in proportion to each Lender’s Proportionate Share of the outstanding Loans;
provided, however, that no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, claims, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from such Agent’s gross negligence or
willful misconduct (as determined by a court of competent jurisdiction in a final and non-appealable decision). The obligations of the Lenders under this Section 11.5 shall survive the payment in full of the Notes and the termination of
this Agreement. 
 11.6        Agents In Their Individual
Capacity.   With respect to their Loans and Commitments, each Agent shall have and may exercise the same rights and powers hereunder and is subject to the same obligations and liabilities as and to the extent set forth herein for
any other Lender or holder of Obligations. The terms “Lenders”, “holder of Obligations”, “Required Lenders” or “Super-Majority Lenders” or any similar terms shall, unless the context clearly otherwise
indicates, include each Agent in its individual capacity as a Lender, one of the Required Lenders, one of the Super-Majority Lenders or a holder of Obligations. Any Agent may accept deposits from, lend money to, and generally engage in any kind of
banking, trust or other business with any Credit Party or any Subsidiary or affiliate of any Credit Party as if such Agent were not acting as Agent hereunder or under any other Loan Document, including, without limitation, the acceptance of fees or
other consideration for services without having to account for the same to any of the Lenders. 

11.7        Notice of Default.  No Agent shall be deemed to have
knowledge or notice of the occurrence of any Event of Default or Unmatured Event of Default hereunder unless such Agent has received written notice from a Lender or Company referring to this Agreement, describing such Event of Default or Unmatured
Event of Default and stating that such notice is a “notice of default”. In the event that an Agent receives such a notice, Agent shall give prompt notice thereof to Administrative Agent, if applicable, and the Lenders. 

 

 - 128 - 







 11.8        Holders of
Obligations.  Administrative Agent may deem and treat the payee of any Obligation as reflected on the books and records of Administrative Agent as the owner thereof for all purposes hereof unless and until a written notice of the
assignment or transfer thereof shall have been filed with Administrative Agent pursuant to Section 12.8(c). Any request, authority or consent of any Person who, at the time of making such request or giving such authority or consent, is
the holder of any Obligation shall be conclusive and binding on any subsequent holder, transferee or assignee of such Obligation or of any Obligation or Obligations granted in exchange therefor. 

11.9        Appointment of Collateral Agent and Co-Collateral Agents.

 (a)        The Lenders, Administrative Agent and Co-Collateral Agent hereby
irrevocably designate and appoint the Collateral Agent and the Lenders, Administrative Agent and Collateral Agent hereby irrevocably designate and appoint the Co-Collateral Agents to act as specified herein and in the other Loan Documents. Each
Lender authorizes and directs the Collateral Agent to enter into the Intercreditor Agreement and the Collateral Agent and the Co-Collateral Agents to enter into the Loan Documents relating to the Collateral and reaffirms the Collateral Agent’s
authority under the existing Intercreditor Agreement in accordance with the terms thereof for the benefit of the Lenders and the other Secured Parties. Each Lender hereby irrevocably authorizes, the Collateral Agent and the Co-Collateral Agents to
take such action on its behalf under the provisions of this Agreement, the other Loan Documents and any other instruments and agreements referred to herein or therein and to exercise such powers and to perform such duties hereunder and thereunder as
are specifically delegated to or required of the Collateral Agent or Co-Collateral Agents, as applicable, by the terms hereof and thereof and such other powers as are reasonably incidental thereto. The Collateral Agent and Co-Collateral Agents may
perform any of their respective duties hereunder or under any other Loan Document by or through their respective officers, directors, agents, employees or affiliates. 

(b)        The Collateral Agent shall have the same benefits as the Administrative Agent
under this Section 11. 
 (c)        (i)    If the
Commitments of WFCF and its Affiliates are less than 50% of the Commitments of the Administrative Agent or WFCF or any of its Affiliates is a Defaulting Lender, WFCF may be removed as a Co-Collateral Agent by the Borrowers or the Required Lenders
upon written notice to it as Co-Collateral Agent and with such removal to become effective immediately upon the delivery of such written notice 

11.10        Resignation by an Agent.   (a)  An Agent
may resign from the performance of all its functions and duties hereunder at any time by giving fifteen Business Days’ prior written notice to Company and the Lenders. Such resignation shall take effect upon the acceptance by a successor Agent
to the vacated agency position of appointment pursuant to clauses (b) and (c) below or as otherwise provided below. 

(b)        Upon any such notice of resignation, the Required Lenders shall appoint a
replacement Agent who shall be satisfactory to Company (absent the existence of an Event of Default) and shall be an incorporated bank or trust company, unless there remains at least one 

 

 - 129 - 







 
other Agent serving in the same capacity as such resigning Agent, in which case no replacement Agent shall be appointed. 

(c)        If a successor Agent shall not have been so appointed within said fifteen
Business Day period, the resigning Agent, with the consent of Company (absent the existence of an Event of Default), may then appoint a successor Agent who shall serve in the resigning Agent’s agency role until such time, if any, as the
Required Lenders, with the consent of Company, appoint a successor Agent as provided above. 

(d)        If no successor Agent has been appointed pursuant to clause (b) or
(c) by the twentieth Business Day after the date such notice of resignation was given by such resigning Agent, the resigning Agent’s resignation shall become effective and the Required Lenders shall thereafter perform all the duties of the
resigning Agent hereunder until such time, if any, as the Required Lenders, with the consent of Company (absent the existence of an Event of Default), appoint a successor Agent as provided above. 

11.11        The Joint Lead Arrangers, Joint Book Runners, Syndication Agent,
Documentation Agent, Senior Managing Agent.  Notwithstanding any other provision of this Agreement or any provision of any other Loan Document, each of the Joint Lead Arrangers, Joint Book Runners, Syndication Agent,
Documentation Agent and Senior Managing Agent are named as such for recognition purposes only, and in their respective capacities as such shall have no powers, duties, responsibilities or liabilities with respect to this Agreement or the other Loan
Documents or the transactions contemplated hereby and thereby; it being understood and agreed that the Joint Lead Arrangers, Joint Book Runners, Syndication Agent, Documentation Agent, and Senior Managing Agent shall be entitled to all
indemnification and reimbursement rights in favor of “Agents” as provided for under Section 11.5. Without limitation of the foregoing, no such Person shall, solely by reason of this Agreement or any other Loan Documents, have
any fiduciary relationship in respect of any Lender or any other Person. 

11.12        Co-Collateral Agents.  Borrowers and
Co-Collateral Agents hereby agree that any decision or determination required to be made by Co-Collateral Agents jointly under the Loan Documents shall be made in accordance with the following principles: 

(a)        Co-Collateral Agents shall endeavor in good faith to reach a mutually agreed
decision or determination. 
 (b)        To the extent that Co-Collateral Agents
cannot reach a mutually-agreed decision or determination with respect to any matter, then Co-Collateral Agents shall jointly support whichever of their respective positions on such matter is more conservative, i.e., which results in a lower
Borrowing Base or is otherwise more protective of the interests of the Lenders, or declines to permit the requested action for which consent is being sought by the Borrowers, as applicable. 

(c)        In the event an issue cannot be resolved by either the more conservative
credit judgment or declining to permit a requested action by the Borrowers (such as the selection or replacement of an appraisal firm), then the decision of Administrative Agent shall be final. 

 

 - 130 - 







 ARTICLE XII 

MISCELLANEOUS 

12.1        No Waiver; Modifications in Writing. 

(a)        No failure or delay on the part of Administrative Agent, Collateral Agent, any
Co-Collateral Agent or any Lender in exercising any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the
exercise of any other right, power or remedy. The remedies provided for herein are cumulative and are not exclusive of any remedies that may be available to Administrative Agent or any Lender at law or in equity or otherwise. Neither this Agreement
nor any terms hereof may be amended, modified, supplemented, waived, discharged, terminated or otherwise changed unless such amendment, modification, supplement, waiver, discharge, termination or other change is in writing signed by the
respective Credit Parties party thereto and the Required Lenders, provided that no such amendment, modification, supplement, waiver, discharge, termination or other change shall, without the consent of: 

(i)        each Lender with Obligations directly affected thereby (whose consent shall be
required for any such amendment, modification, supplement, waiver, discharge, termination or other change in addition to that of Required Lenders) (A) reduce the principal amount of any Loan or Note, (B) increase the Commitment of such
Lender, (C) postpone the scheduled final maturity date of any Loan, or postpone the date or reduce the amount of any scheduled payment (but not prepayment) of principal on any Loan, (D) postpone the date on which any interest or fees are
payable, (E) decrease the interest rate borne by any Loan (other than the waiver of any increase in the rate applicable to any of the Loans by application of the Default Rate) or the amount of any fees payable hereunder including any change in
the manner in which any financial ratio used in determining any interest rate or fee is calculated that would result in a reduction of any such rate or fee in effect on the Restatement Date, (F) amend, modify or waive this
Section 12.1(a)(i) or (G) amend, modify or waive Section 2.5(d); 

(ii)        each Lender (A) amend, modify or waive any provision of this
Section 12.1(a) other than Section 12.1(a)(i), or reduce the percentage specified in the definition of Required Lenders or Super-Majority Lenders, (B) other than a Defaulting Lender, release all or substantially all of
the Subsidiary Guarantors or all or substantially all of the Collateral (except as expressly provided in the Security Documents), (C) other than a Defaulting Lender, increase the advance rates applicable to the Borrowing Base over those in
effect on the Restatement Date or (D) consent to the assignment or transfer by any Credit Party of any of its rights and obligations under this Agreement; 

(iii)        the Super-Majority Lenders, amend, modify, supplement, waive or otherwise change,
as applicable (A) the definition of “Availability”, (B) any defined terms which appear in the definition of “Borrowing Base” and would have the effect of increasing Availability or the Borrowing Base, (C) the
proviso at the end of the second-to-last sentence of Section 2.1(a) or (D) Section 3.1(a)(i)(A) (it being understood that the establishment, modification or elimination of reserves and adjustment, establishment and
elimination of criteria 
  

 - 131 - 







 
for Eligible Accounts Receivable and Eligible Inventory, in each case in accordance with the terms hereof will not be deemed to require the consent of the Super-Majority Lenders); 

(iv)        Administrative Agent, Collateral Agent or Co-Collateral Agents, (A) amend,
modify or waive any provision of Article XI as same applies to Administrative Agent, Collateral Agent or Co-Collateral Agents, respectively, or any other provisions as same relates to the rights or obligations of Administrative Agent,
Collateral Agent or Co-Collateral Agents, respectively, or (B) amend, modify or waive any provisions relating to the rights or obligations of Administrative Agent, Collateral Agent or Co-Collateral Agents, respectively, under the other Loan
Documents; or 
 (v)        each Issuing Bank that has issued an outstanding
Letter of Credit or has not been reimbursed for a payment under a Letter of Credit, amend, modify or waive any provision of Article III as same applies to such Issuing Bank. 

(b)        If, in connection with any proposed change, waiver, discharge or termination
of any of the provisions of this Agreement as contemplated by clauses (a)(i) or (ii) of this Section 12.1(a), the consent of the Required Lenders is obtained but the consent of one or more of such other Lenders whose consent is
required is not obtained, then Company shall have the right to replace each such non-consenting Lender or Lenders with one or more Replacement Lenders pursuant to Section 4.13 so long as at the time of such replacement, each such
Replacement Lender consents to the proposed amendment, modification, supplement, waiver, discharge, termination or other change. 

12.2        Further Assurances.  Company agrees, on behalf of
itself and its Subsidiaries, to do such further acts and things and to execute and deliver to Administrative Agent such additional assignments, agreements, powers and instruments, as Administrative Agent may reasonably require or deem advisable to
carry into effect the purposes of this Agreement or any of the Loan Documents or to better assure and confirm unto Administrative Agent it rights, powers and remedies hereunder. 

12.3        Notices, Etc.  (a)  Except where telephonic
instructions or notices are authorized herein to be given (and except as provided in paragraph (b) below), all notices, demands, instructions and other communications required or permitted to be given to or made upon any party hereto or any
other Person shall be in writing and shall be personally delivered or sent by registered or certified mail, postage prepaid, return receipt requested, or by a reputable overnight or courier delivery service, or by telecopier, and shall be deemed to
be given for purposes of this Agreement when received or in the case of notice delivered by telecopy, upon completion of transmission with a copy of such notice also being delivered under any of the methods provided above, all in accordance with the
provisions of this Section 12.3. Unless otherwise specified in a notice sent or delivered in accordance with the foregoing provisions of this Section 12.3, notices, demands, instructions and other communications in writing
shall be given to or made upon the respective parties hereto at their respective addresses (or to their respective telecopier numbers) indicated on Schedule 12.3(a) attached hereto or, in the case of any Assignee, on its signature page to its
Assignment and Assumption Agreement and, in the case of telephonic instructions or 
  

 - 132 - 







 
notices, by calling the telephone number or numbers indicated for such party on Schedule 12.3(a) attached hereto or such Assignment and Assumption Agreement, as the case may be.

 (b)    Notices and other communications to or by the Administrative Agent, the Lenders and the
Facing Agent hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by Administrative Agent, provided that the foregoing shall not apply to
notices pursuant to Article II unless otherwise agreed by Administrative Agent and the applicable Lender and, to the extent applicable, the Facing Agent. Administrative Agent or Company may, in its discretion, agree to accept notices and
other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

Unless Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the
sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other
communication is sent after 5:00 p.m. (New York City time), such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient, and (ii) notices or communications posted to an
Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and
identifying the website address therefor. 
 12.4        Costs and Expenses;
Indemnification. 
 (a)        Generally.  The
Borrowers agree to pay promptly upon request by any Agent (or any Lender in connection with any enforcement or atonement as provided below) (i) all reasonable out of pocket costs and expenses incurred by any Agent in connection with the
negotiation, preparation, printing, typing, reproduction, syndication, execution and delivery of this Agreement and the other Loan Documents and the documents and instruments referred to herein and therein and any amendment, waiver or consent
relating hereto or thereto or other modifications of (or supplements to) any of the foregoing and any and all other documents and instruments furnished pursuant hereto or thereto or in connection herewith or therewith (whether or not the
transactions contemplated hereby or thereby are consummated), including without limitation, the reasonable fees and out-of-pocket expenses of independent public accountants and other outside experts retained by Agents with Company’s consent
(provided that such consent shall not be required (A) for experts retained prior to the Restatement Date, (B) for experts who determine eligibility criteria or Net Orderly Liquidation Values of Accounts Receivable or Inventory or
(C) if an Unmatured Event of Default or Event of Default exists at the time any expert is retained), of any collateral consultant and of White & Case LLP, special counsel to Agents, and any local counsel retained by Administrative
Agent or Collateral Agent relative thereto and other related Attorney Costs, in connection with the administration of this Agreement and the other Loan Documents, and all search fees, appraisal fees and expenses, title insurance policy fees, costs
and expenses and filing and recording fees and any other Expenses, (ii) all costs and expenses incurred by the Agents or any Lender, including the fees, charges and 

 

 - 133 - 







 
Attorney Costs, in connection with the enforcement or protection of its rights in connection with this Agreement and the other Loan Documents, including its rights under this Section, or in
connection with the Loans made hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. In addition, the Borrowers shall pay any and all present and future stamp,
transfer, excise and other similar taxes payable or determined to be payable in connection with the execution and delivery of this Agreement, any Loan Document, or the making of any Loan, and each agrees to save and hold Agents and each Lender
harmless from and against any and all liabilities with respect to or resulting from any delay by any Borrower in paying, or omission by any Borrower to pay, such taxes. Any portion of the foregoing fees, costs and expenses which remains unpaid more
than thirty days following any Agent’s or any Lender’s statement and request for payment thereof shall bear interest from the date of such statement and request to the date of payment at the Default Rate. 

(b)        Indemnification.   The Borrowers will indemnify and
hold harmless each Agent and each Lender and each director, officer, employee, agent and Affiliate of each Agent and each Lender (each such Person an “Indemnified Person” and collectively, the “Indemnified Persons”)
from and against all losses, claims, damages, obligations (including Remedial Actions), expenses or liabilities to which such Indemnified Person may become subject or which may be asserted against such Indemnified Person by any third party or by any
Credit Party, insofar as such losses, claims, damages, penalties, obligations (including Remedial Actions), expenses or liabilities (or actions, suits or proceedings including any inquiry or investigation or claims in respect thereof (whether or not
any Agent or any Lender is a party thereto)) arise out of, in any way relate to, or result from (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the
performance by the parties hereto of their respective obligations hereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by
the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any violation of or liability arising under
any Environmental Laws or Environmental Permits or for the Release or threatened Release of any Contaminants into the environment for which any Borrower or any of its Subsidiaries has any liability or which occurs upon the Mortgaged Property or
which is related to any Premises or Former Premises of any Borrower or any of its Subsidiaries or any real property to which Contaminants related to any Borrower or any of its Subsidiaries came to be located, or by reason of the imposition of any
Environmental Lien or which occurs by a breach of any of the representations, warranties or covenants relating to environmental matters contained herein, or any orders, requirements or demands of Governmental Authorities related thereto, including,
without limitation, reasonable attorneys’ and consultants’ fees, investigation and laboratory fees, costs arising from any Remedial Action, court costs and litigation expenses, provided that, with respect to any liabilities arising from
acts or failure to act for which any Borrower or any of its Subsidiaries is strictly liable under any Environmental Law or Environmental Permit, any Borrower’s obligation to each Indemnified Person under this indemnity shall likewise be
without regard to fault on the part of the Borrowers or any such Subsidiary or (iv) any claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of
whether brought by a third party or by a Credit Party and 
  

 - 134 - 







 
regardless of whether any Indemnified Person is a party thereto, and to reimburse each Indemnified Person upon their demand, for any Attorney Costs or other expenses incurred in connection with
investigating, preparing to defend or defending any such loss, claim, damage, liability, action or claim; provided, however, 

(i)        that no Indemnified Person shall have the right to be so indemnified hereunder
for any loss, claim, damage, penalties, obligations, expense or liability to the extent it arises or results from the gross negligence or willful misconduct of such Indemnified Person as determined by a court of competent jurisdiction in a final and
non-appealable decision; and 
 (ii)        that nothing contained herein shall affect
the express contractual obligations of the Lenders to any Credit Party contained herein or in the other Loan Documents. 
 If any action, suit
or proceeding arising from any of the foregoing is brought against any Agent, any Lender or any other Person indemnified or intended to be indemnified pursuant to this Section 12.4, the Borrowers will, if requested by any Agent, any
Lender or any such Indemnified Person, resist and defend such action, suit or proceeding or cause the same to be resisted and defended by counsel reasonably satisfactory to the Person or Persons indemnified or intended to be indemnified. Each
Indemnified Person shall, unless an Agent, a Lender or other Indemnified Person has made the request described in the preceding sentence and such request has been complied with, have the right to employ its own counsel (or (but not as well as) staff
counsel) to investigate and control the defense of any matter covered by such indemnity and the reasonable fees and expenses of such counsel shall be at the expense of the indemnifying party. 

If the Borrowers shall fail to do any act or thing which it has covenanted to do hereunder or any representation or warranty on the part of any Borrower
or any of its Subsidiaries contained herein or in any other Loan Document shall be breached, each Agent may (but shall not be obligated to) do the same or cause it to be done or remedy any such breach, and may expend its funds for such purpose, and
will use its best efforts to give prompt written notice to Company that it proposes to take such action. Any and all amounts so expended by each Agent shall be repaid to it by the Borrowers promptly upon such Agent’s demand therefor, with
interest at the Default Rate in effect from time to time during the period including the date so expended by any Agent to the date of repayment. To the extent that the undertaking to indemnify, pay or hold harmless Agents or any Lender as set forth
in this Section 12.4 may be unenforceable because it is violative of any law or public policy, the Borrowers shall make the maximum contribution to the payment and satisfaction of each of the indemnified liabilities which is permissible
under applicable law. The obligations of the Borrowers under this Section 12.4 shall survive the termination of this Agreement and the discharge of the Borrowers’ other Obligations hereunder. 

(c)        Waiver of Consequential Damages, Etc.  To the fullest
extent permitted by applicable law, the Borrowers shall not assert, and hereby waives, any claim against any Indemnified Person, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual
damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use

  

 - 135 - 







 
of the proceeds thereof. No Indemnified Person referred to in paragraph (b) above shall be liable for any damages arising from the use by unintended recipients of any information
transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby. 

12.5        Confirmations.  Each Borrower and each holder of any
portion of the Obligations agrees from time to time, upon written request received by it from the other, to confirm to the other in writing (with a copy of each such confirmation to Administrative Agent) the aggregate unpaid principal amount of the
Loan or Loans and other Obligations then outstanding. 
 12.6        Adjustment;
Setoff. 
 (a)        If any lender (a “Benefited
Lender”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by setoff, pursuant to events or proceedings of the nature
referred to in Section 10.1(e) or Section 10.1(f) hereof, or otherwise) in a greater proportion than any such payment to and collateral received by any other Lender in respect of such other Lender’s Loans or interest
thereon, such Benefited Lender shall (i) notify Administrative Agent of that fact and (ii) purchase for cash at face value from the other Lenders such portion of each such other Lender’s Loans, or shall provide such other Lenders with
the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each Lender; provided, however, that
(x) if all or any portion of such excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without
interest and (y) this Section 12.6(a) shall not apply to (1) any payment made by a Credit Party pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as
consideration for the assignment or sale of a participation to any assignee or participant, other than to any Credit Party or any Subsidiary thereof. Company agrees that each Lender so purchasing a portion of another Lender’s Loans may exercise
all rights of payment (including, without limitation, rights of setoff) with respect to such portion as fully as if such Lender were the direct holder of such portion. 

(b)        In addition to any rights and remedies of the Lenders provided by law, each
Lender shall have the right, without prior notice to Company or any of its Subsidiaries, any such notice being expressly waived by Company, on behalf of itself and its Subsidiaries, upon the occurrence and during the continuance of an Event of
Default, to setoff and apply against any Obligations, whether matured or unmatured, of Company or any Credit Party to such Lender, any amount owing from such Lender to Company or any of its Subsidiaries, at or at any time after, the happening of any
of the above-mentioned events, and the aforesaid right of setoff may be exercised by such Lender against Company or any Credit Party or against any trustee in bankruptcy, debtor in possession, assignee for the benefit of creditors, receivers,
administrator, administrative receiver, court appointed monitor or other similar official, or execution, judgment or attachment creditor of Company or any Credit Party, or against anyone else claiming through or against, Company or any Credit Party
or such trustee in bankruptcy, debtor in possession, 
  

 - 136 - 







 
assignee for the benefit of creditors, receivers, administrator, administrative receiver, court appointed monitor or other similar official, or execution, judgment or attachment creditor,
notwithstanding the fact that such right of setoff shall not have been exercised by such Lender prior to the making, filing or issuance, or service upon such Lender of, or of notice of, any such petition, assignment for the benefit of creditors,
appointment or application for the appointment of a receiver, administrator, administrative receiver, court appointed monitor or other similar official, or issuance of execution, subpoena, order or warrant. Each Lender agrees promptly to notify
Company and Administrative Agent after any such setoff and application made by such Lender, provided that the failure to give such notice shall not affect the validity of such setoff and application. 

(c)        Company expressly agrees, on behalf of itself and its Subsidiaries, that to
the extent Company or any other Credit Party makes a payment or payments and such payment or payments, or any part thereof, are subsequently invalidated, declared to be fraudulent or preferential, set aside or are required to be repaid to a trustee,
receiver, administrator, administrative receiver, court appointed monitor or other similar official, or any other party under any bankruptcy act, state or federal law, common law or equitable cause in any jurisdiction, then to the extent of such
payment or repayment, the Indebtedness to the Lenders or part thereof intended to be satisfied shall be revived and continued in full force and effect as if said payment or payments had not been made. 

12.7        Execution in Counterparts; Electronic Execution; Effectiveness.

 (a)        This Agreement may be executed in any number of counterparts
and by different parties hereto on separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Agreement.
Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 

(b)        This Agreement shall become effective on the date on which (i) Company
and each of the Lenders shall have signed a counterpart of this Agreement (whether the same or different counterparts) and shall have delivered the same to the Administrative Agent at the Notice Office (or to Administrative Agent’s counsel as
directed by such counsel) or, in the case of the Lenders, shall have given to Administrative Agent or telephonic (confirmed in writing), written, telex or facsimile notice (actually received) at such office or the office of Administrative
Agent’s counsel that the same has been signed and mailed to it and (ii) the conditions set forth in Section 5.1 have been waived or satisfied. Administrative Agent will give Company and each Lender prompt written notice of the
occurrence of the Restatement Date. 
 12.8        Binding Effect; Assignment;
Addition and Substitution of Lenders. 
 (a)        This Agreement shall
be binding upon, and inure to the benefit of, Company and each other Credit Party hereto, Administrative Agent, the Lenders, all future holders of the Notes and their respective successors and assigns; provided, however, that Company
may not assign its rights or obligations hereunder or in connection herewith or any 
  

 - 137 - 







 
interest herein (voluntarily, by operation of law or otherwise) without the prior written consent of Administrative Agent and all of the Lenders. 

(b)        Each Lender may at any time sell to one or more banks or other entities
(“Participants”) participating interests in all or any portion of its Commitment and Loans or any other interest of such Lender hereunder (in respect of any Lender, its “Credit Exposure”). In the event of any such
sale by a Lender of participating interests to a Participant, such Lender’s obligations under this Agreement shall remain unchanged, such Lender shall remain solely responsible for the performance thereof, and the Credit Parties and
Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. At the time of the sale of a participating interest, the Lender transferring the
interest (i) shall cause the Participant to provide the forms required under Section 2.8(d) as if such Participant became a Lender on the date of the sale and (ii) shall, if required under applicable law, deliver revised forms
in accordance with Section 2.8(d) reflecting the portion of the interest sold and the portion of the interest retained. Further, the Participant shall be subject to the obligations of Section 2.8 and Section 4.12
as if such Participant was a Lender. Company agrees that if amounts outstanding under this Agreement or any of the Loan Documents are due or unpaid, or shall have been declared or shall have become due and payable upon the occurrence and during the
continuance of an Event of Default, each Participant shall be deemed to the extent permitted by law to have the right of setoff in respect of its participating interest in amounts owing under this Agreement and the other Loan Documents to the same
extent as if the amount of its participating interest were owing directly to it as a Lender under this Agreement or any other Loan Document; provided, however, that such right of setoff shall be subject to the obligation of such
Participant to share with the Lenders, and the Lenders agree to share with such Participant, as provided in Section 12.6. Company also agrees that each Participant shall be entitled to the benefits of Section 2.8 and
Section 4.12 with respect to its participation in the Loans outstanding from time to time, as if such Participant becomes a Lender on the date it acquired an interest pursuant to this Section 12.8(b). Each Lender agrees that
any agreement between such Lender and any such Participant in respect of such participating interest shall not restrict such Lender’s right to approve or agree to any amendment, restatement, supplement or other modification to, waiver of, or
consent under, this Agreement or any of the other Loan Documents except to the extent that any of the forgoing would (i) extend the final scheduled maturity of any Loan or Note in which such Participant is participating or reduce the rate or
extend the time of payment of interest or fees on any such Loan or Note (except in connection with a waiver of applicability of any post-default increase in interest rates) or reduce the principal amount thereof, or increase the amount of the
Participant’s participation over the amount thereof then in effect (it being understood that waivers or modifications of conditions precedent, covenants, representations, warranties, Events of Default or Unmatured Events of Default or of a
mandatory reduction in Commitments shall not constitute a change in the terms of such participation, and that an increase in any Commitment or Loan shall be permitted without the consent of any Participant if the Participant’s participation is
not increased as a result thereof), (ii) consent to the assignment or transfer by Company of any of its rights and obligations under this Agreement or (iii) release all or substantially all of the Collateral under all of the Security
Documents (except as expressly provided in the Loan Documents) supporting the Loans hereunder in which such Participant is participating. 
  

 - 138 - 







 (c)        Any Lender may at any time assign
to one or more Eligible Assignees, including an Affiliate thereof (each an “Assignee”), all or any part of its Credit Exposure pursuant to an Assignment and Assumption Agreement, provided that any assignment of all or any
portion of any Lender’s Credit Exposure to an Assignee other than an Affiliate of such Lender or another Lender, or in the case of a Lender that is a Fund, any Related Fund of any Lender (i) shall be an assignment of its Credit Exposure in
an amount not less than $5,000,000 (treating any Fund and its Related Funds as a single Eligible Assignee) (or if less the entire amount of Lender’s Credit Exposure, provided, that, if such Lender and its Affiliates (or in the case of a
Fund and its Related Funds) collectively hold Credit Exposure at least equal to such minimum amounts, such Affiliates and/or Related Funds must simultaneously assign Credit Exposure such that the aggregate Credit Exposure assigned satisfies such
minimum amount) and (ii) shall require the prior written consent of Administrative Agent (not to be unreasonably withheld) and, provided no Event of Default then exists and is continuing, Company (the consent of Company not to be unreasonably
withheld or delayed); provided, however, that notwithstanding the foregoing limitations, any Lender may at any time assign all or any part of its Credit Exposure to any Affiliate of such Lender or to any other Lender (or in the case of
a Lender which is a Fund, to any Related Fund of such Lender). Upon execution of an Assignment and Assumption Agreement and the payment of a nonrefundable assignment fee of $3,500 (provided that no such fee shall be payable upon assignments by any
Lender which is a Fund to one or more Related Funds) in immediately available funds to Administrative Agent at its Payment Office in connection with each such assignment, written notice thereof by such transferor Lender to Administrative Agent and
the recording by Administrative Agent of such assignment and the resulting effect upon the Loans of the assigning Lender and the Assignee, the Assignee shall have, to the extent of such assignment, the same rights, benefits and obligations as it
would have if it were a Lender hereunder and the holder of the Obligations (provided that Company and Administrative Agent shall be entitled to continue to deal solely and directly with the assignor Lender in connection with the interests so
assigned to the Assignee until written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to Company, and Administrative Agent by the assignor Lender
and the Assignee) and, if the Assignee has expressly assumed, for the benefit of Company or any other Credit Party hereto, some or all of the transferor Lender’s obligations hereunder, such transferor Lender shall be relieved of its obligations
hereunder to the extent of such assignment and assumption, and except as described above, no further consent or action by Company, the Lenders, or Administrative Agent shall be required. At the time of each assignment pursuant to this
Section 12.8(c) to a Person which is not already a Lender hereunder, the respective Assignee shall provide to Company and Administrative Agent the appropriate forms and certificates as provided in Section 2.8(d), if
applicable. Each Assignee shall take such Credit Exposure subject to the provisions of this Agreement and to any request made, waiver or consent given or other action taken hereunder, prior to the receipt by Administrative Agent and Company of
written notice of such transfer, by each previous holder of such Credit Exposure. Such Assignment and Assumption Agreement shall be deemed to amend this Agreement and Annex I hereto, to the extent, and only to the extent, necessary to reflect
the addition of such Assignee as a Lender and the resulting adjustment of all or a portion of the rights and obligations of such transferor Lender under this Agreement, the Total Commitments, the determination of its Proportionate Share (rounded to
twelve decimal places), the Loans and any new Notes, if 
  

 - 139 - 







 
requested, to be issued, at Company’s expense, to such Assignee, and no further consent or action by Company or the Lenders shall be required to effect such amendments. 

(d)        Company authorizes each Lender to disclose to any Participant, Assignee or
permitted pledgee under clause (e) below (each, a “Transferee”) and any prospective Transferee any and all financial information in such Lender’s possession concerning Company and any of its Subsidiaries which has been
delivered to such Lender by Company pursuant to this Agreement or which has been delivered to such Lender by Company in connection with such Lender’s credit evaluation of Company prior to entering into this Agreement, provided that, such
Transferee or prospective Transferee agrees to treat any such information which is not public as confidential in accordance with the terms of Section 12.16 hereof. 

(e)        Notwithstanding any other provision set forth in this Agreement, any Lender
may at any time pledge or assign all or any portion of its rights under this Agreement and the other Loan Documents (including, without limitation, the Notes held by it,) to any Federal Reserve Bank in accordance with Regulation A of the Federal
Reserve Board without notice to, or the consent of, any Credit Party, provided that, no such pledge or assignment of a security interest under this Section 12.8(e) shall release a Lender from any obligations hereunder or
substitute any such pledgee or assignee for such Lender as a party hereto. Any Lender which is a fund may pledge all or any portion of its Notes or Loans to any holders of obligations or securities issued by such Lender, including to its trustee for
or representative of such holders. No such pledge or assignment pursuant to this clause (e) shall release the transferor Lender from its obligations hereunder. 

12.9        Defaulting Lender. 

(a)        Unless the Administrative Agent shall have received notice from a Lender,
prior to the time specified in such Section, that such Lender will not make available to the Administrative Agent a Loan required to be made by it pursuant to Section 2.2 or its L/C Participation Funding Amount pursuant to
Section 3.6(b)(ii), the Administrative Agent may assume that such Lender has made such amounts available to the Administrative Agent in accordance with such Sections and the Administrative Agent in its sole discretion may, in reliance
upon such assumption, make available to the Borrowers or the applicable Issuing Bank a corresponding amount on behalf of such Lender. 

(b)        If any amount referred to in subsection (a) of this Section 12.9
or in Section 2.3 is not made available to the Administrative Agent by a Lender and the Administrative Agent has made such amount available to the Borrowers or an Issuing Bank, the Administrative Agent shall be entitled to recover
such amount on demand from the Defaulting Lender together with interest as hereinafter provided. If such Defaulting Lender does not pay such amount forthwith upon the Administrative Agent’s demand therefore, the Administrative Agent shall
promptly notify the Funds Administrator and the Borrowers shall immediately (but in no event later than five Business Days after such demand) pay such amount to the Administrative Agent together with interest calculated as hereinafter provided. The
Administrative Agent shall also be entitled to recover from such Defaulting Lender and/or the Borrowers, as the case may be, (i) interest on such amount in respect of each day from the date

  

 - 140 - 







 
such corresponding amount was made available by the Administrative Agent to the Borrowers to the date such amount is recovered by the Administrative Agent, at a rate per annum equal to either
(A) if paid by such Defaulting Lender, the overnight Federal Funds Rate or (B) if paid by the Borrowers, the then applicable rate of interest, calculated in accordance with Section 4.1 or Section 4.2, plus
(ii) in each case, an amount equal to any costs (including legal expenses) and losses incurred as a result of the failure of such Defaulting Lender to provide such amount as provided in this Agreement. Nothing herein shall be deemed to
relieve any Lender from its duty to fulfill its obligations hereunder or to prejudice any rights which the Borrowers or any Issuing Bank, may have against any Lender as a result of any default by such Lender hereunder, including the right of the
Borrowers to seek reimbursement from any Defaulting Lender for any amounts paid by the Borrowers under clause (ii) above on account of such Defaulting Lender’s default. 

(c)        Notwithstanding anything to the contrary contained in this Agreement, in the
event that a Defaulting Lender exists, no Issuing Bank shall be required to issue, renew, extend or amend any Letter of Credit, unless such Issuing Bank has entered into arrangements satisfactory to it and the Borrowers to eliminate such Issuing
Bank’s risk with respect to each Defaulting Lender’s pro rata portion of the Letter of Credit Exposure (which arrangements are hereby consented to by the Lenders), including by cash collateralizing each Defaulting Lender’s Letter of
Credit Exposure with respect to such Letters of Credit (such arrangements, the “Letter of Credit Back-Stop Arrangements”). 

(d)        (i)        Notwithstanding anything
contained herein to the contrary, so long as any Lender is a Defaulting Lender under clauses (i) or (iii)(x) of the definition thereof or has rejected its Commitment, the Administrative Agent shall not be obligated to transfer to such Lender
(A) any payments made by the Borrowers to the Administrative Agent for the benefit of such Lender or (B) any amounts contemplated by Section 2.3(b)(i); and, such Lender shall not be entitled to the sharing of any payments
pursuant to Section 2.9. Amounts otherwise payable to such Lender under Section 2.9 shall instead be paid to the Administrative Agent. 

(ii)        No Lender’s Commitment shall be increased or otherwise affected, and
performance by the respective Borrowers shall not be excused, by the operation of this Section 12.9. Any payments of principal or interest which would, but for this Section 12.9, be paid to any Lender, shall be paid to the
Lenders who shall not be in default under their respective Commitments and who shall not have rejected any Commitment, for application to the Loans then due and payable or to the other Obligations then due and payable or to provide cash collateral
to secure Obligations not then due and payable in such manner and order as shall be determined by the Administrative Agent. 

(iii)        This Section 12.9 and Section 4.9 shall remain effective with respect to
a Defaulting Lender until (a) the Obligations under this Agreement shall have been declared or shall have become immediately due and payable or (b) the Administrative Agent and each Issuing Bank shall have determined such Lender
should no longer be deemed to be a Defaulting Lender and shall have given written notice of such determination to the parties to this Agreement, whereupon, as of the effective date specified in such notice and subject to any

  

 - 141 - 







 
conditions set forth therein, such Lender will cease to be a Defaulting Lender for all purposes under this Agreement. 

12.10        CONSENT TO JURISDICTION; MUTUAL WAIVER OF JURY TRIAL. 

(a)        EXCEPT TO THE EXTENT OTHERWISE PROVIDED IN A MORTGAGE, ANY LEGAL ACTION OR
PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER DOCUMENT SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK, NEW YORK OR COURTS OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY EXECUTION AND
DELIVERY OF THIS AGREEMENT, EACH CREDIT PARTY HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH CREDIT PARTY FURTHER IRREVOCABLY CONSENTS TO
THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH CREDIT PARTY, AT THE ADDRESS PROVIDED FOR IN SECTION
12.3, SUCH SERVICE TO BECOME EFFECTIVE THIRTY DAYS AFTER SUCH MAILING. NOTHING HEREIN, HOWEVER, SHALL AFFECT THE RIGHT OF ADMINISTRATIVE AGENT UNDER THIS AGREEMENT, ANY LENDER OR THE HOLDER OF ANY NOTE TO SERVE PROCESS IN ANY OTHER MANNER
PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST EACH CREDIT PARTY IN ANY OTHER JURISDICTION. 

(b)        EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT BROUGHT IN THE COURTS REFERRED OF IN CLAUSE (A) ABOVE AND HEREBY FURTHER
IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

(c)        EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY
HAVE TO TRIAL BY JURY IN ANY COURT OR JURISDICTION, INCLUDING WITHOUT LIMITATION THOSE REFERRED TO IN CLAUSE (A) ABOVE, IN RESPECT TO ANY MATTER ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY. 
 (d)    1THIS AGREEMENT AND EACH NOTE SHALL BE DEEMED TO BE A
CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK, AND 
  

 - 142 - 







 
FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF SAID STATE, INCLUDING SECTIONS S-1401 AND S-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW BUT EXCLUDING
ALL OTHER CHOICE OF LAW AND CONFLICTS OF LAWS RULES. 

12.11        Severability of Provisions.  Any provision of this
Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or
enforceability of such provision in any other jurisdiction. 

12.12        Transfers of Notes.   In the event that the holder of
any Note (including any Lender) shall transfer such Note, it shall immediately advise Administrative Agent and Company of such transfer, and Administrative Agent and Company shall be entitled conclusively to assume that no transfer of any Note has
been made by any holder (including any Lender) unless and until Administrative Agent and Company shall have received written notice to the contrary. Except as otherwise provided in this Agreement or as otherwise expressly agreed in writing by all of
the other parties hereto, no Lender shall, by reason of the transfer of a Note or otherwise, be relieved of any of its obligations hereunder. Each transferee of any Note shall take such Note subject to the provisions of this Agreement and to any
request made, waiver or consent given or other action taken hereunder, prior to the receipt by Administrative Agent and Company of written notice of such transfer, by each previous holder of such Note, and, except as expressly otherwise provided in
such transfer, Administrative Agent and Company shall be entitled conclusively to assume that the transferee named in such notice shall hereafter be vested with all rights and powers under this Agreement with respect to the Proportionate Share of
the Loans of the Lender named as the payee of the Note which is the subject of such transfer. 

12.13        Registry.  Company hereby designates Administrative
Agent to serve as Company’s agent, solely for purposes of this Section 12.13 to maintain a register (the “Register”) on which it will record the Commitments from time to time of each of the Lenders, the Loans made
by each of the Lenders and each repayment in respect of the principal amount of the Loans of each Lender. Failure to make any such recordation, or any error in such recordation shall not affect any Credit Party’s obligations in respect of such
Loans. With respect to any Lender, the transfer of the Commitments of such Lender and the rights to the principal of, and interest on, any Loan made pursuant to such Commitments shall not be effective until such transfer is recorded on the Register
maintained by Administrative Agent with respect to ownership of such Commitments and Loans and prior to such recordation all amounts owing to the transferor with respect to such Commitments and Loans shall remain owing to the transferor. The
registration of assignment or transfer of all or part of any Commitments and Loans shall be recorded by Administrative Agent on the Register only upon the acceptance by Administrative Agent of a properly executed and delivered Assignment and
Assumption Agreement pursuant to Section 12.8. Coincident with the delivery of such an Assignment and Assumption Agreement to Administrative Agent for acceptance and registration of assignment or transfer of all or part of a Loan, or as
soon thereafter as practicable, the assigning or transferor Lender shall surrender any Note evidencing such Loan, and thereupon, if requested by the assigning or transferor Lender or New Lender, one or more new Notes in the same aggregate principal
amount then owing to such 
  

 - 143 - 







 
assignor or transferor Lender shall be issued to the assigning or transferor Lender and/or the new Lender. 

12.14        Headings.  The Table of Contents and Article and
Section headings used in this Agreement are for convenience of reference only and shall not affect the construction of this Agreement. 

12.15        Termination of Agreement.  This Agreement shall
terminate when the Commitments of each Lender have terminated and all outstanding Obligations and Loans have been indefeasibly paid in full; provided, however, that the rights and remedies of Administrative Agent and each Lender with respect to any
representation and warranty made by the Borrowers pursuant to this Agreement or any other Loan Document, and the indemnification and expense reimbursement provisions contained in this Agreement and any other Loan Document, shall be continuing and
shall survive any termination of this Agreement or any other Loan Document. 

12.16        Treatment of Certain Information;
Confidentiality.  Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality of the Information (as defined below) in accordance with its customary practices for handling such information,
except that information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is
made will be informed of the confidential nature of such information and instructed to keep such information confidential), (b) to the extent requested by any regulatory authority purporting to have jurisdiction over it (including any
self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in
connection with the exercise of any remedies hereunder or under any other Loan Document or the enforcement or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder,
(f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under this
Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to Company or any other Credit Party and its obligations, (g) with the consent of Company or (h) to the extent
such information (x) becomes publicly available other than as a result of a breach of this section or (y) becomes available to the Administrative Agent or any Lender or any of their respective Affiliates on a nonconfidential basis from a
source other than Company. 
 For purposes of this Section, “Information” means all information received from,
or on behalf of, Company or any of its Subsidiaries relating to Company or any of its Subsidiaries or any of their respective businesses, other than any such information that is available to the Administrative Agent or any Lender on a
nonconfidential basis prior to disclosure by Company or any of its Subsidiaries. Notwithstanding the foregoing sentence, to the extent necessary to avoid application of Treasury Regulation section 1.6011-4 (and in particular 1.6011-4(b)(3) with
respect to confidential transactions), any such information shall not be treated as “Information.” Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its
obligation 
  

 - 144 - 







 
to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. In addition,
Administrative Agent may disclose to any agency or organization that assigns standard identification numbers to loan facilities such basic information describing the facilities provided hereunder as is necessary to assign unique identifiers (and, if
requested, supply a copy of this Agreement), it being understood that the Person to whom such disclosure is made will be informed of the confidential nature of information and instructed to make available in the course of its business of assigning
identification numbers. 
 12.17        Concerning the Collateral and the Loan
Documents. 
 (a)        Authority.  Each Lender
agrees that any action taken by the Collateral Agent or the Required Lenders (or, where required by the express terms, hereof, a different proportion of the Lenders) in accordance with the provisions hereof or of the other Loan Documents, and the
exercise by the Collateral Agent or the Required Lenders (or, where so required, such different proportion) of the powers set forth herein or therein, together with such other powers as are reasonably incidental thereto, shall be authorized and
binding upon all of the Lenders. Without limiting the generality of the foregoing, the Collateral Agent shall have the sole and exclusive right and authority to (i) act as the disbursing and collecting agent for the Lenders with respect to all
payments and collections arising in connection herewith and with the Loan Documents relating to the Collateral; (ii) execute and deliver each Loan Document relating to the Collateral and accept delivery of each such agreement delivered by
Company or any of its Subsidiaries, (iii) act as collateral trustee for the Lenders for purposes stated therein to the extent such action is provided for under the Loan Documents, provided, however, the Collateral Agent hereby appoints,
authorizes and directs each Lender and Agent to act as collateral sub-agent for the Collateral Agent and the Lenders for purposes of the perfection of all security interests and Liens with respect to Company’s and its Subsidiaries’
respective deposit accounts maintained with, and Cash and Cash Equivalents held by, such Lender; (iv) manage, supervise and otherwise deal with the Collateral; (v) take such action as is necessary or desirable to maintain the perfection
and priority of the security interests and liens created or purported to be created by the Loan Documents, and (vi) except as may be otherwise specifically restricted by the terms hereof or of any other Loan Document, exercise all remedies
given to the Collateral Agent or the Lenders with respect to the Collateral under the Loan Documents relating thereto, applicable law or otherwise. 

(b)        Release of Collateral. 

(i)        The Administrative Agent, each Co-Collateral Agent and each of the Lenders hereby
direct the Collateral Agent to release, in accordance with the terms hereof, any Lien held by the Collateral Agent, under the Security Documents: 

(1)        against all of the Collateral, upon termination of this Agreement as provided in
Section 12.15; 
  

 - 145 - 







 (2)        against any part of the Collateral sold
or disposed of by Company or any of its Subsidiaries to the extent such sale or disposition is permitted hereby (or permitted pursuant to a waiver or consent of a transaction otherwise prohibited hereby); 

(3)        against any Collateral acquired by Company or any of its Subsidiaries after the
Restatement Date financed with Indebtedness secured by a Lien permitted by Section 8.1(d); 

(4)        so long as no Event of Default or Unmatured Event of Default has occurred and is
continuing, in the sole discretion of the Collateral Agent upon the request of Company, against any part of the Collateral with a Fair Market Value of less than $5,000,000 in the aggregate during the term of this Agreement as such Fair Market Value
may be certified to the Collateral Agent by Company in an officer’s certificate acceptable in form and substance to the Collateral Agent; and 

(5)        against a part of the Collateral which release does not require the consent of all of
the Lenders as set forth in Section 12.1(a)(ii)(B), if such release is consented to by the Required Lenders; 
 provided,
however, that (y) the Collateral Agent shall not be required to execute any such document on terms which, in its opinion, would expose it to liability or create any obligation or entail any consequence other than the release of such
Liens without recourse or warranty, and (z) such release shall not in any manner discharge, affect or impair the Obligations or any Liens upon (or obligations of any Credit Party in respect of) all interests retained by Company and/or any of
its Subsidiaries, including (without limitation) the proceeds of any sale, all of which shall continue to constitute part of the Collateral. 

(ii)        The Administrative Agent, each Co-Collateral Agent and each of the Lenders hereby
direct the Collateral Agent to execute and deliver or file such termination and partial release statements and such other things as are necessary to release Liens to be released pursuant to this Section 12.17 promptly upon the
effectiveness of any such release or enter into intercreditor agreements contemplated or permitted herein. 

(c)        No Obligation.  Neither the Collateral Agent nor the
Co-Collateral Agents shall have any obligation whatsoever to any Lender or to any other Person to assure that the Collateral exists or is owned by Company or any of its Subsidiaries or is cared for, protected or insured or has been encumbered or
that the Liens granted to the Collateral Agent herein or pursuant to the Loan Documents have been properly or sufficiently or lawfully created, perfected, protected or enforced or are entitled to any particular priority, or to exercise at all or in
any particular manner or under any duty of care, disclosure or fidelity, or to continue exercising, any of the rights, authorities and powers granted or available to the Collateral Agent or the Co-Collateral Agents in any of the Loan Documents, it
being understood and agreed that in respect of the Collateral, or any act, omission or event related thereto, the Collateral Agent and the Co-Collateral Agents may act in any manner it may deem appropriate, in its sole discretion, given the
Collateral Agent’s or the Co-Collateral Agents’ own interests in the Collateral as one of the Lenders and that the Collateral Agent and the Co-Collateral Agents shall not have any duty or liability whatsoever to any Lender, provided, that,
notwithstanding the foregoing, the Collateral 
  

 - 146 - 







 
Agent and each Co-Collateral Agent shall be responsible for its grossly negligent actions or actions constituting intentional misconduct. 

12.18        Joint and Several Liability of Borrowers. 

(a)        Each of the Borrowers shall be jointly and severally liable hereunder and
under each of the other Loan Documents with respect to all Obligations, regardless of which of the Borrowers actually receives the proceeds of the Loans or the benefit of any other extensions of credit hereunder, or the manner in which the Funds
Administrator, the Borrowers, the Administrative Agent, the Lenders or any of the Issuing Banks account therefore in their respective books and records. In furtherance and not in limitation of the foregoing, (i) each Borrower’s obligations
and liabilities with respect to proceeds of Loans which it receives or Letters of Credit issued for its account, and related fees, costs and expenses, and (ii) each Borrower’s obligations and liabilities arising as a result of the joint
and several liability of the Borrowers hereunder with respect to proceeds of Loans received by, or Letters of Credit issued for the account of, any of the other Borrowers, together with the related fees, costs and expenses, shall be separate and
distinct obligations, both of which are primary obligations of such Borrower. Except as expressly provided in the Loan Documents, neither the joint and several liability of, nor the Liens granted to the Collateral Agent under the Security Documents
by, any of the Borrowers shall be impaired or released by (A) the failure of the Administrative Agent, any Lender, the Collateral Agent or any Issuing Bank, any successors or assigns thereof, or any holder of any Note or any of the Obligations
to assert any claim or demand or to exercise or enforce any right, power or remedy against the Funds Administrator, any Borrower, any Subsidiary of any Borrower, any other Person, the Collateral or otherwise; (B) any extension or renewal for
any period (whether or not longer than the original period) or exchange of any of the Obligations or the release or compromise of any obligation of any nature of any Person with respect thereto; (C) the surrender, release or exchange of all or
any part of any property (including without limitation the Collateral) securing payment, performance and/or observance of any of the Obligations or the compromise or extension or renewal for any period (whether or not longer than the original
period) of any obligations of any nature of any Person with respect to any such property; (D) any action or inaction on the part of the Administrative Agent, the Collateral Agent, any Lender or any Issuing Bank, or any other event or condition
with respect to any other Borrower, including any such action or inaction or other event or condition, which might otherwise constitute a defense available to, or a discharge of, such Borrower, or a guarantor or surety of or for any or all of the
Obligations; and (E) any other act, matter or thing (other than payment or performance of the Obligations) which would or might, in the absence of this provision, operate to release, discharge or otherwise prejudicially affect the obligations
of such Borrower or any other Borrower. 
 (b)        Notwithstanding any
provision to the contrary contained herein or in any other of the Loan Documents, to the extent the joint obligations of a Borrower shall be adjudicated to be invalid or unenforceable for any reason (including, without limitation, because of
Section 548 of Chapter 11 of the Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law) then the Obligations of each Borrower hereunder shall be limited
to the maximum amount that is 
  

 - 147 - 







 
permissible under applicable law (whether federal or state and including, without limitation, the Bankruptcy Code). 

(c)        To the extent that any Borrower shall make a payment under this
Section 12.18 of all or any of the Obligations (other than Loans made to that Borrower for which it is primarily liable) (a “Guarantor Payment”) that, taking into account all other Guarantor Payments then previously or
concurrently made by any other Borrower, exceeds the amount that such Borrower would otherwise have paid if each Borrower had paid the aggregate Obligations satisfied by such Guarantor Payment in the same proportion that such Borrower’s
Allocable Amount (as defined below) (as determined immediately prior to such Guarantor Payment) bore to the aggregate Allocable Amounts of each of the Borrowers as determined immediately prior to the making of such Guarantor Payment, then, following
indefeasible payment in full in cash of the Obligations and termination of the Commitments, such Borrower shall be entitled to receive contribution and indemnification payments from, and be reimbursed by, each other Borrower for the amount of such
excess, pro rata based upon their respective Allocable Amounts in effect immediately prior to such Guarantor Payment. As of any date of determination, the “Allocable Amount” of any Borrower shall be equal to the maximum amount of
the claim that could then be recovered from such Borrower under this Section 12.18 without rendering such claim voidable or avoidable under Section 548 of Chapter 11 of the Bankruptcy Code or under any applicable state Uniform
Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law. This Section 12.18(c) is intended only to define the relative rights of Borrowers and nothing set forth in this Section 12.18(c) is
intended to or shall impair the obligations of Borrowers, jointly and severally, to pay any amounts as and when the same shall become due and payable in accordance with the terms of this Credit Agreement, including Section 12.18(a).
Nothing contained in this Section 12.18(c) shall limit the liability of any Borrower to pay the Loans made directly or indirectly to that Borrower and accrued interest, Fees and Expenses with respect thereto for which such Borrower shall
be primarily liable. The parties hereto acknowledge that the rights of contribution and indemnification hereunder shall constitute assets of the Borrower to which such contribution and indemnification is owing. The rights of the indemnifying
Borrowers against other Credit Parties under this Section 12.18(c) shall be exercisable upon the full and indefeasible payment of the Obligations and the termination of the Commitments. 

(d)        The liability of Borrowers under this Section 12.18 is in addition
to and shall be cumulative with all liabilities of each Borrower to Agent and Lenders under this Credit Agreement and the other Loan Documents to which such Borrower is a party, without any limitation as to amount. 

12.19        USA Patriot Act.  Each Lender subject to the Patriot
Act hereby notifies Borrowers that pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information that identifies Borrowers, which information includes the name and address of Borrowers and other information
that will allow such Lender to identify Borrowers in accordance with the Patriot Act. 

12.20        Amendment and Restatement.  On the Restatement Date,
each Existing Lender will assign its Existing Commitments (and any outstanding loans under the Existing Credit 
  

 - 148 - 







 
Agreement) and each Lender, severally and not jointly, agrees to purchase and assume on the Restatement Date its Proportionate Share of the Existing Commitments (and its Proportionate Share of
any outstanding loans under the Existing Credit Agreement as of the Restatement Date and all rights (including Liens) related thereto) in an amount not exceeding its Proportionate Share of the Total Commitments hereunder, from the Existing Lenders
at par plus accrued interest and fees, free and clear of any adverse claim, participation or other encumbrance, which Existing Commitments, existing Loans and the Existing Credit Agreement shall be (immediately upon such purchase and assumption by
the Lenders) amended and restated in their entirety as Commitments and Loans hereunder and governed by the terms of this Agreement all as more particularly described herein; provided, however, that the provisions of Section 12.4 of the
Existing Credit Agreement, together with the other terms thereof which are expressly stated to survive the termination of the Existing Credit Agreement, shall survive and remain in full force and effect. The Lenders are not subject to or bound by
any of the terms or provisions of the Existing Credit Agreement. The parties acknowledge and agree that this Agreement and the other Loan Documents do not constitute a novation, payment and reborrowing or termination of the obligations under the
Existing Credit Agreement, and that all such obligations are in all respects continued and outstanding as obligations under this Agreement except to the extent such obligations are modified from and after the Restatement Date as provided in this
Agreement and the other Loan Documents. 
 12.21        Approved Secured
Derivative Agreements. 
 (a)        At any time after any Borrower
enters into a Derivative Transaction permitted by this Agreement with a Lender or an Affiliate of a Lender, if Company and the Derivative Transaction counterparty desire that the monetary obligations in respect of such Derivative Transaction be
treated as “Approved Secured Derivative Transaction Liabilities” hereunder with rights in respect of payment of proceeds of the Collateral in accordance with the waterfall provisions set forth in Section 2.5(d)(i),
(i) Company shall notify the Administrative Agent in writing (which notice the Administrative Agent shall promptly provide to the Co-Collateral Agents) (to be acknowledged by the Administrative Agent and Co-Collateral Agents) that it desires
such Derivative Transaction to be treated as an Approved Secured Derivative Liability, (ii) the Derivative Transaction counterparty shall have delivered written notice thereof to the Administrative Agent and the Co-Collateral Agents (to be
acknowledged by the Administrative Agent and Co-Collateral Agents) stating the maximum amount of the Borrowers’ liabilities in respect thereof and the then aggregate marked to market exposure of the applicable Borrower thereunder, and
(iii) the Co-Collateral Agents shall establish the Approved Secured Derivative Transaction Reserve with respect thereto and notify such Derivative Transaction counterparty whether such Approved Secured Derivative Liability constitutes a Primary
Secured Obligation as of such date. 
 (b)        Until such time as Company and
the Derivative Transaction provider deliver (and the Administrative Agent and Co-Collateral Agents acknowledge) such notices as described in Section 12.21(a) above, such Derivative Transaction shall not constitute an Approved Secured
Derivative Transaction Liability. 
  

 - 149 - 







 (c)        Notwithstanding any such
designation of a Derivative Transaction as an Approved Secured Derivative Transaction Liability, no provider or holder of any such Approved Secured Derivative Transaction Liabilities shall have any voting or approval rights hereunder (or be deemed a
Lender) solely by virtue of its status as the provider of such agreements or the Secured Obligations owing thereunder, nor shall its consent be required (other than in its capacity as a Lender to the extent applicable) for any matter hereunder or
under any of the other Loan Documents, including, without limitation, as to any matter relating to the Collateral or the release of Collateral or Guarantors, except as provided in Section 15 of the Security Agreement. The Administrative Agent,
Collateral Agent and Co-Collateral Agents accept no responsibility and shall have no liability for the calculation of the exposure owing by the Borrowers under any such Derivative Transaction, and shall be entitled in all cases to rely on the
applicable counterparty and the applicable Borrower party to such agreement for the calculation thereof. 

(d)        Each Derivative Transaction counterparty party to a Derivative Transaction
designated as an Approved Secured Derivative Transaction Liability hereunder and the Borrower party to any such agreement each agrees to provide the Administrative Agent and the Co-Collateral Agents with the calculations of all such exposures and
reserves, if any, at such times as the Administrative Agent or the Co-Collateral Agents shall reasonably request, and in any event, not less than monthly (unless otherwise agreed to by the Administrative Agent and the Co-Collateral Agents).

 [signature pages follow] 
  

 - 150 - 







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

			
	TPC GROUP LLC
		
	By:	 	        /s/ Ruth I. Dreessen
		
	Name:	 	        Ruth I. Dreessen
		
	Title:	 	        Executive Vice President and CFO
	
	 TEXAS BUTYLENE CHEMICAL

CORPORATION

		
	By:	 	        /s/ Ruth I. Dreessen
		
	Name:	 	        Ruth I. Dreessen
		
	Title:	 	        Executive Vice President and CFO



 
  
  

 Signature Page to Amended and Restated Revolving Credit Agreement 








			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, in its individual capacity as a Lender, as Administrative Agent, as Collateral Agent and as Co-Collateral Agent
		
	By:	 	        /s/ Omayra Laucella
		
	Name:	 	        Omayra Laucella
		
	Title:	 	        Vice President
		
	By:	 	        /s/ Evelyn Thierry
		
	Name:	 	        Evelyn Thierry
		
	Title:	 	        Director



 
  
  

 

 Signature Page to Amended and Restated Revolving Credit Agreement 








			
	WELLS FARGO CAPITAL FINANCE, LLC, in its individual capacity as a Lender and as Co-Collateral Agent
		
	By:	 	        /s/ Michael P. Baranowski
		
	Name:	 	        Michael P. Baranowski
		
	Title:	 	        Vice President



 
  
  

 

 Signature Page to Amended and Restated Revolving Credit Agreement 








LENDER:                 

 

			
	JPMorgan Chase Bank, N.A.
		
	By:	 	        /s/ J. Devin Mock
		
	Name:	 	        J. Devin Mock
		
	Title:	 	        Vice President
	
	 Notice Address:

	
	 2200 Ross Avenue,
9th Floor

Mailcode: TX1-2921

Dallas, TX 75201

Attention Portfolio Manager

Fax: (214) 965-2594

	


  
  

 
  

 Signature Page to Amended and Restated Revolving Credit Agreement 








LENDER:                 

 

			
	Capital One Leverage Finance Corp.
		
	By:	 	        /s/ Michael Burns
		
	Name:	 	        Michael Burns
		
	Title:	 	        Senior Vice President
	
	 Notice Address:

	
	
265 Broadhollow Road, 
4th Floor

Melville, NY 11747

Tel: 631-531-2775

Fax: 631-531-2499

	


  
  

 
  

 Signature Page to Amended and Restated Revolving Credit Agreement 








LENDER:                 

 

			
	Bank of America, N.A.
		
	By:	 	        /s/ John Todd
		
	Name:	 	        John Todd
		
	Title:	 	        EVP
	
	 Notice Address:

	
	 Bank of America Business Capital

901 Main Street,
11th Floor

TX1-492-11-23

Dallas, TX 75202

	


  
  

 
  

 Signature Page to Amended and Restated Revolving Credit Agreement 








LENDER:                 

 

			
	Allied Irish Banks, p.l.c.
		
	By:	 	        /s/ Martin Chin
		
	Name:	 	        Martin Chin
		
	Title:	 	        Senior Vice President
		
	By:	 	         /s/ Brent Phillips
		
	Name:	 	        Brent Phillips
		
	Title:	 	        Vice President
	
	 Notice Address:

	
	 601 S. Figueroa St., Suite 4650

Los Angeles, CA 90017

	


  
  

 
  

 Signature Page to Amended and Restated Revolving Credit Agreement 








LENDER:                 

 

			
	Cole Taylor Bank
		
	By:	 	        /s/ Kavian Boots
		
	Name:	 	        Kavian Boots
		
	Title:	 	        Managing Director
	
	 Notice Address:

	
	 9550 W. Higgins Rd.

Rosemont, IL 60018




 
  
  

 
  

 Signature Page to Amended and Restated Revolving Credit Agreement 








LENDER:                 

 

			
	Lloyds TSB Bank, PLC
		
	By:	 	        /s/ Jeremy Harrison
		
	Name:	 	        Jeremy Harrison
		
	Title:	 	        Director / H067
		
	By:	 	        /s/ M. Z. Beanland
		
	Name:	 	        M. Z. Beanland
		
	Title:	 	        SVP FI / B033
	
	 Notice Address:

	
	
1095 Avenue of the Americas, 
34th Fl.

New York, NY 10036

	


  
  

 
  
  

 Signature Page to Amended and Restated Revolving Credit Agreement 








LENDER:                 

 

			
	Branch Banking and Trust Company
		
	By:	 	        /s/ Roger Eric Searls
		
	Name:	 	        Roger Eric Searls
		
	Title:	 	        Vice President
	
	 Notice Address:

	
	
200 West Second Street, 
16th Floor

Winston-Salem, NC 27101




 
  
  

 

 Signature Page to Amended and Restated Revolving Credit Agreement 







 ANNEX 1 

Lenders; Commitments 
  

			
	
Deutsche Bank Trust Company Americas
	  	$25,000,000
	 Wells Fargo Capital Finance, LLC

	  	$25,000,000
	 JPMorgan Chase Bank,
N.A.
	  	$25,000,000
	 Capital One Leverage Finance
Corp.
	  	$18,000,000
	 Bank of America,
N.A.
	  	$18,000,000
	 Allied Irish Banks,
p.l.c.
	  	$18,000,000
	 Cole Taylor Bank
	  	$18,000,000
	 Lloyds TSB Bank
plc
	  	$14,000,000
	 Branch Banking & Trust
Company
	  	$14,000,000







 EXHIBIT 2.1(b) 

[FORM OF] 

AMENDED AND RESTATED NOTE 

 


$                        




                     ,
2010 



  
 FOR VALUE RECEIVED,
the undersigned, TPC Group LLC, a Texas limited liability company (“Company”) and Texas Butylene Chemical Corporation, a Texas corporation (“Texas Butylene” and together with Company, the
“Borrowers”), hereby unconditionally promise to pay to the order of
                                         
                (the “Lender”) at the office of Deutsche Bank Trust Company Americas, located in New York, New York, in lawful money of the United States
of America and in immediately available funds, the lesser of (x)                      DOLLARS
($                ) and (y) the unpaid principal amount of all advances made by Lender to Borrowers as Loans under the Revolving Credit Agreement
referred to below. The principal amount of each Loan evidenced hereby shall be payable as set forth in the Revolving Credit Agreement hereinafter referred to, with any then outstanding principal amount of the Loans made by the Lender being payable
on the Expiration Date. The Borrowers further agree to pay interest in like money at such office on the unpaid principal amount hereof from time to time outstanding at the applicable interest rate per annum determined as provided in, and payable as
specified in, Article IV of the Revolving Credit Agreement. 
 The holder of this Note is authorized to record the date,
Type and amount of each Loan made by the Lender pursuant to Section 2.1 of the Revolving Credit Agreement, each conversion thereof, the date of each interest rate continuation pursuant to Section 4.3 of the Revolving Credit
Agreement and the principal amount subject thereto, the date and amount of each payment or prepayment of principal hereof and any such recordation shall (in the absence of manifest error) constitute prima facie evidence of the accuracy
of the information endorsed; provided, however, that the failure to make any such endorsement shall not affect the obligations of the Borrowers in respect of such Loan. 

This Note is one of the Notes referred to in the Amended and Restated Revolving Credit Agreement, dated as of April 29, 2010 (as
amended, restated, supplemented or otherwise modified from time to time, the “Revolving Credit Agreement”), among the Borrowers, Deutsche Bank Trust Company Americas, as Administrative Agent, Collateral Agent and Co-Collateral
Agent, Wells Fargo Capital Finance, LLC, as Co-Collateral Agent and the financial institutions signatory thereto, and is subject to the provisions thereof, and is subject to optional and mandatory prepayment in whole or in part as provided therein.
Terms defined in the Revolving Credit Agreement are used herein with their defined meanings unless otherwise defined herein. 

Upon the occurrence of any one or more of the Events of Default specified in the Revolving Credit Agreement, all amounts then remaining
unpaid on this Note may become, or may be declared to be, immediately due and payable, all as provided therein. 
 This Note
amends and restates an existing Note or Notes under the Existing Credit Agreement and does not constitute a novation, payment and reborrowing or termination of 






 
such existing Note or Notes or of other obligations under such existing Note or Notes, and all such obligations are in all respects continued and outstanding as obligations under this Note except
to the extent that such obligations are modified from and after the date of this Note as provided in the Revolving Credit Agreement and the other Loan Documents. 

All parties now and hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, endorser or otherwise,
hereby waive presentment, demand, protest and all other notices of any kind. 
 THIS NOTE SHALL BE DEEMED TO BE A CONTRACT
MADE UNDER THE LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF SAID STATE, INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW BUT EXCLUDING ALL
OTHER CHOICE OF LAW AND CONFLICTS OF LAWS RULES. 
  

			
	TPC GROUP LLC
		
	By:	 	 
	Name:	 	
	Title:	 	


  

			
	TEXAS BUTYLENE CHEMICAL CORPORATION
		
	By:	 	 
	Name:	 	
	Title:	 	








 Schedule A to 

Note 
 BASE
RATE LOAN AND 
 REPAYMENT OF BASE RATE LOAN 

 

													
	    Date	  	
Amount of  

Base Rate  

  Loan    
	  	 Amount  

Converted  

to  

Base Rate  

  Loan    
	  	
Amount of  

Principal  

  Repaid    
	  	 Amount  

Converted  

to  

Eurocurrency  

  Loan    
	  	 Unpaid  

Principal  

Balance  

of  

Base Rate  

  Loan    
	  	
Notation  

Made By  

	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____









 Schedule B to 

Note 

EUROCURRENCY LOAN AND 

REPAYMENT OF EUROCURRENCY LOAN 
  

															
	Date	  	
  Amount of  

  Eurocurrency  

    Loan    
	  	
  Amount  

  Converted  

  to  

  Eurocurrency  

    Loan    
	  	
  Interest  

  Period and  

  Eurocurrency  

  Rate with  

  Respect  

  Thereto  
	  	
  Amount
of  

  Principal  

    Repaid    
	  	
  Amount  

  Converted  

  to  

  Base
Rate  

    Loan    
	  	
  Unpaid  

  Principal  

  Balance
of  

  Eurodollar  

    Loan    
	  	
  Notation  

  Made By  

	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____


	
_____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____
	  	 _____









 EXHIBIT 2.2(a)(i) 

[FORM OF] 

NOTICE OF BORROWING FOR LOANS 

Date:              

Deutsche Bank Trust Company Americas, 
 as
Administrative Agent 
 60 Wall Street 

New York, New York 10005 
 Attention: Omayra
Laucella 
 Telecopy: (646) 863-9256 

Dear Sir or Madam: 
 Reference
is made to that certain Amended and Restated Revolving Credit Agreement, dated as of April 29, 2010 (as amended, restated, supplemented or otherwise modified from time to time, the “Revolving Credit Agreement”), by and among
TPC Group LLC, a Texas limited liability company (“Company”), Texas Butylene Chemical Corporation, a Texas corporation (“Texas Butylene” and together with Company, the “Borrowers” with the Company
acting in its capacity as Funds Administrator for the Borrowers), Deutsche Bank Trust Company Americas, as Administrative Agent, Collateral Agent and Co-Collateral Agent, Wells Fargo Capital Finance, LLC, as Co-Collateral Agent and the Lenders named
therein. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Revolving Credit Agreement. The undersigned hereby gives notice (this “Notice of Borrowing”) pursuant to
Section 2.2 of the Revolving Credit Agreement of its request for the Lenders to make a Loan as follows. 
  

							
	 1.
	  	Amount to be Borrowed	  	 	  	
				
	 2.
	  	Base Rate Loans	  	 	  	
				
	 3.
	  	Base Rate Loan Borrowing	  		  	
		  	Date	  	 	  	
				
	 4.
	  	Eurocurrency Loans	  	 	  	
				
	 5.
	  	Eurocurrency Loan	  		  	
		  	Borrowing Date	  	 	  	
				
	 6.
	  	Eurocurrency Loan	  		  	
		  	Interest Period	  	 	  	

 The undersigned represents and warrants that the Borrowing requested hereby complies with the
requirements of Section 2.2 of the Revolving Credit Agreement. 






 The undersigned represents and warrants that, both immediately before and immediately after
giving effect to the Borrowing being requested and the application of the proceeds therefrom, the representations and warranties contained in the Revolving Credit Agreement and in each other Loan Document are each true and correct in all material
respects as of the date hereof, as though made on and as of such time, except to the extent such representations and warranties are expressly made as of a specific date in which event such representations and warranties shall have been true and
correct on and as of such specified date. 
 The undersigned represents and warrants that, both immediately before and
immediately after giving effect to the Borrowing being requested and the application of the proceeds therefrom, no Event of Default or Unmatured Event of Default has occurred and is continuing on the date of the Borrowing or will occur as a result
of giving effect to the requested Loan(s). 
 This Notice of Borrowing shall automatically terminate if the Revolving Credit
Agreement terminates on or before the date on which the Loan(s) requested hereunder are to be made. 
  

			
	TPC GROUP LLC, as Funds Administrator
		
	By:	 	 
	Name:	 	 
	Title:	 	 


  






 EXHIBIT 2.8(d)(i) 

[FORM OF] 

SECTION 2.8(d)(i) CERTIFICATE 

Reference is hereby made to that certain Amended and Restated Revolving Credit Agreement dated as of April 29, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Revolving Credit Agreement”) by and among TPC Group LLC, a Texas limited liability company (“Company”), Texas Butylene Chemical Corporation, a
Texas corporation (“Texas Butylene” and together with Company, the “Borrowers”), the financial institutions party thereto as lenders, Deutsche Bank Trust Company Americas, as Administrative Agent
(“Administrative Agent”), Collateral Agent and Co-Collateral Agent and Wells Fargo Capital Finance, LLC, as Co-Collateral Agent. Capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the
Revolving Credit Agreement. Pursuant to the provisions of Section 2.8(d)(i) of the Revolving Credit Agreement, the undersigned (the “Lender”) hereby certifies that: 

 

1.        The Lender is not a “bank” for purposes of
Section 881(c)(3)(A) of the Internal Revenue Code of 1986, as amended (the “Code”). 

2.        The Lender is not subject to regulatory or other legal requirements as
a “bank” in any jurisdiction and has not been treated as a “bank” for purposes of any tax, securities law or other filing or submission made to any governmental authority, any application made to a rating agency or qualification
for any exemption from tax, securities law or other legal requirements. 

3.        The Lender meets all of the requirements under Code Section 871(h)
or 881(c) to be eligible for a complete exemption from withholding of United States Taxes on interest payments made to it under the Revolving Credit Agreement. 

4.        The Lender shall promptly notify the Borrowers and the Administrative
Agent in writing if any of the representations and warranties made herein are no longer true and correct. 
  

			
	[NAME OF LENDER]
		
	By:	 	 
	Title:	 	 
	Date:	 	                            
                   ,                



  
 Note: The Lender shall deliver two accurate
and complete original signed copies of IRS Form W-BEN (Certificate of Foreign Status of Beneficial Owner for United States Withholding or IRS Form W-8EIC (Certificate of Foreign Person’s Claim from Exemption From Withholding) on Income
effectively connected with the conduct of a Trade or Business in the United States)(or successor form) certifying to Lender’s complete exemption from United States withholding tax with respect to interest payments. 






 EXHIBIT 3.2(a) 

[FORM OF] 

LETTER OF CREDIT REQUEST 

 

 Deutsche Bank Trust Company Americas,



 Date:
                
1




     as Administrative Agent 

60 Wall Street 
 New York, New York 10005

 Attention: Omayra Laucella 

Telecopy: (646) 863-9256 
 Deutsche Bank
Trust Company Americas, as Issuing Bank 
 Global Loan Operations 

Standby Letter of Credit Unit 
 60 Wall Street

 New York, New York 10005 - MS NYC 60-278 

Attention: Charles Ferris 
 Ladies and
Gentlemen: 
 The undersigned, TPC Group LLC, a Texas limited liability company (“Company”), refers to the
Amended and Restated Revolving Credit Agreement, dated as of April 29, 2010 (as amended, restated, supplemented or otherwise modified, from time to time, the “Agreement”), among Company, Texas Butylene Chemical Corporation, a
Texas corporation (“Texas Butylene” and together with Company, the “Borrowers”), Deutsche Bank Trust Company Americas, as Administrative Agent, Collateral Agent and Co-Collateral Agent, Wells Fargo Capital Finance,
LLC as Co-Collateral Agent, and the various financial institutions party thereto as Lenders. For purposes of this Letter of Credit Request, unless otherwise defined herein, all capitalized terms used herein shall have the respective meanings
provided in the Agreement. 
 The undersigned hereby request that the Issuing Bank issue a Letter of Credit for the account of
the undersigned on                          ,
             (the “Date of Issuance”) in the aggregate face amount of
$                    .
                     will be the account party under the Letter of Credit and
                 will be the obligor. 

The beneficiary of the requested Letter of Credit will be
                    
,2 and such Letter of Credit will be in support
of
                    
3
and will have a stated expiration date of
                        
.4 

 
  

	1	 At least three (3) Business Days’ prior notice is required and such notice must be given prior to 1:00 P.M. (New York City time) with a copy
to the applicable Issuing Bank. 








 The undersigned represents and warrants that the issuance of the Letter of Credit requested
hereby complies with the requirements of Section 3.2(a) and Section 5.2 of the Agreement. 
 The
undersigned represents and warrants that, both immediately before and immediately after giving effect to the Letter of Credit being requested and the application of the proceeds therefrom, the representations and warranties contained in the
Agreement and the Loan Documents are each true and correct in all material respects as of the date hereof, as though made on and as of such time, except to the extent such representations and warranties are expressly made as of a specified date in
which event such representation and warranties shall be true and correct as of such specified date. 
 The undersigned
represents and warrants that, both immediately before and immediately after giving effect to the Letter of Credit being requested and the application of the proceeds therefrom, no Event of Default has occurred and is continuing on the date of the
issuance of the Letter of Credit or will occur after giving effect to the requested Letter of Credit. 
 Copies of all
documentation which the Issuing Bank has reasonably requested with respect to the supported transaction are attached hereto. 
  

			
	TPC GROUP LLC, as Company
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 


  
  

 
  

	2	 Insert name and address of beneficiary 


  

	3	 Insert description of the supported obligations, name of agreement and/or the commercial transaction to which the requested Letter of Credit relates.



  

	4	 Expiration date must be not later than the earlier of one year from the Date of Issuance and thirty (30) days prior to the Expiration Date.









 EXHIBIT 4.3(a) 

[FORM OF] 

NOTICE OF
CONTINUATION1 

 

			
	Deutsche Bank Trust Company Americas,	  	Date:                     
       ,201_

   as Administrative Agent 

60 Wall Street 
 New York, New York 10005

 Attention: Omayra Laucella 

Telecopy: (646) 863-9256 
 Ladies and
Gentlemen: 
 Reference is made to that certain Amended and Restated Revolving Credit Agreement dated as of April 29, 2010
(as amended, restated, supplemented or otherwise modified from time to time, the “Revolving Credit Agreement”), among TPC Group LLC, a Texas limited liability company (“Company”), Texas Butylene Chemical
Corporation, a Texas corporation (“Texas Butylene” and together with Company, the “Borrowers” with the Company acting in its capacity as Funds Administrator for the Borrowers), Deutsche Bank Trust Company Americas,
as Administrative Agent, Collateral Agent and Co-Collateral Agent, Wells Fargo Capital Finance, LLC, as Co-Collateral Agent and the financial institutions parties thereto as Lenders. Capitalized terms used herein and not otherwise defined herein
shall have the meanings set forth in the Revolving Credit Agreement. The undersigned hereby gives notice pursuant to Section 4.3(a) of the Revolving Credit Agreement that it elects to continue Eurocurrency Loans under the Revolving
Credit Agreement. The terms on which such continuation is requested to be made are set forth below: 
  

					
	 1.
	    	Date of continuation (which date is a Business Day and which date is the last day of the Interest Period therefor):	  	_____________
			
	 2.
	    	Aggregate amount of Loans to be continued:	  	_____________
			
	 3.
	    	Nature of the proposed continuation:	  	_____________
			
	 4.
	    	Interest Period (if the Loans are to be	  	
		    	continued as Eurocurrency
Loan)2:	  	_____________

  

 

	1
	 This notice must be received by Administrative Agent not later than 11:00 A.M. (New York City time) at least three Business Days in advance of the date
of Continuation relating to Eurocurrency Rate Loans. 


  

	2
	 Which shall be subject to the definition of “Interest Period” set forth in Section 4.5 of the Revolving Credit Agreement.










			
	 Very truly yours,
  

TPC GROUP LLC, as Funds Administrator

		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 








 EXHIBIT 4.3(b) 

[FORM OF] 

NOTICE OF
CONVERSION1

  

			
	Deutsche Bank Trust Company Americas,	  	Date:                 
      ,200_

   as Administrative Agent 

60 Wall Street 
 New York, New York 10005

 Attention: Omayra Laucella 

Telecopy: (646) 863-9256 
 Ladies and
Gentlemen: 
 Reference is made to that certain Amended and Restated Revolving Credit Agreement dated as of April 29, 2010
(as amended, restated, supplemented or otherwise modified from time to time, the “Revolving Credit Agreement”), among TPC Group LLC, a Texas limited liability company (“Company”), Texas Butylene Chemical
Corporation, a Texas corporation (“Texas Butylene” and together with Company, the “Borrowers” with the Company acting in its capacity as Funds Administrator for the Borrowers), Deutsche Bank Trust Company Americas,
as Administrative Agent, Collateral Agent and Co-Collateral Agent, Wells Fargo Capital Finance, LLC, as Co-Collateral Agent, and the financial institutions parties thereto as Lenders. Capitalized terms used herein and not otherwise defined herein
shall have the meanings set forth in the Revolving Credit Agreement. The undersigned hereby gives notice pursuant to Section 4.3(b) of the Revolving Credit Agreement that it elects to convert the entire amount of, or a portion of all
Loans of one Type comprising the same Borrowing into Loans of another Type. The terms on which such conversion is requested to be made are set forth below: 
  

					
	 1.
	    	Date of conversion (which date is a Business Day and, if a conversion from a Eurocurrency Loan, which date is the last day of the Interest Period therefor):	  	_____________
			
	 2.
	    	Aggregate amount of Loans to be converted2
:	  	_____________
			
	 3.
	    	Nature of the proposed conversion:	  	_____________

  

 

	1
	 This notice must be received by Administrative Agent not later than 11:00 A.M. (New York City time) (i) one Business Day in advance of any
proposed Conversion into Base Rate Loans and (ii) at least three Business Days in advance of any proposed Conversion into Eurocurrency Loans. 


  

	2
	 Each Conversion shall be in an aggregate amount for the Loans of all Lenders of not less than $2,000,000 or any integral multiple of $1,000,000 in
excess thereof. 









					
			
	 4.
	    	Interest Period (if the Loans are to be converted into Eurocurrency
Loan)3:	  	_____________


			
	
	 Very truly yours,
  

TPC GROUP LLC, as Funds Administrator

		
	By:	 	 
		
	Name:	 	 


  

 
  
  

 
  

	3
	 Which shall be subject to the definition of “Interest Period” set forth in Section 4.5 of the Revolving Credit Agreement.









 EXHIBIT 5.1(b)(i) 

[FORM OF] 

PERFECTION CERTIFICATE 

The undersigned, the
                                        
of (a) TPC Group LLC, a Texas limited liability company (the “Company”) and (b) each subsidiary of the Company (each a “Subsidiary” and, collectively, the “Subsidiaries”), hereby certifies
as follows on behalf of the Company: 
 1.     Names.   (a) The exact name of the
Company as that name appears on its Certificate of Formation and the exact names of the Subsidiaries as those names appear, for each Subsidiary that is a corporation, on each Subsidiary’s Certificate of Incorporation, and for each Subsidiary
that is a limited liability company, on such Subsidiary’s Certificate of Formation, are as follows: 

________________________________________ 

Source:    UCC §503(a)(i) 

(b)     The following is a list of all other names (including trade names or similar appellations) used by the
Company or any of the Subsidiaries, or any other business or organization to which the Company or any of the Subsidiaries became the successor by merger, consolidation, acquisition, change in form, nature or jurisdiction of organization or
otherwise, now or at any time during the past five years: 
 ________________________________________

 Source:     UCC §9-507 

(c)     The following are the Company’s and each of the Subsidiaries’ (i) federal employer
identification number and (ii) corporation identification number or other applicable formation identification number: 

______________________ 

______________________ 

Source:     UCC §9-516(b)(5) 

2.     Current Locations.   (a) The chief executive offices and principal mailing addresses of
the Company and each of the Subsidiaries are: 
 ________________________________________ 

________________________________________ 

________________________________________ 

Source:     UCC §§9-516(b)(5), 9-301 






 (b)     The following are all other locations in the United States of
America in which the Company and each of the Subsidiaries maintain any books or records relating to any of the Collateral consisting of accounts, contract rights, chattel paper, general intangibles or mobile goods: 

________________________________________ 

________________________________________ 

Source:     UCC §§9-516(b)(5), 9-301 

(c)     The following are all other places of business of the Company and each of the Subsidiaries in the United
States of America: 
 ________________________________________ 

________________________________________ 

Source:     UCC §9-301, 9-501 

(d)     The following are all other locations in the United States of America where any of the Collateral consisting
of inventory or equipment is located: 
 ________________________________________ 

________________________________________ 

Source:     UCC §9-301, 9-501 

(e)     The following is a list of all owned and leased real property held by the Company and each of the
Subsidiaries: 
 Owned Property 

________________________________________ 

________________________________________ 

Leased Property 

________________________________________ 

________________________________________ 






 (f)     The following are the names and addresses of all persons or
entities other than the Company and the Subsidiaries, such as lessees, consignees, warehousemen or purchasers of chattel paper, which have possession or are intended to have possession of any of the Collateral consisting of chattel paper, inventory
or equipment: 
 ________________________________________ 

________________________________________ 

Source:     UCC §§9-301 and 9-312; see also UCC §§2-326(3), 9-306, 9-330 and 9-505 

3.     Prior Locations. (a) Set forth below is the information required by subparagraphs (a)-(e) of
§2 with respect to each location at which, or other person or entity with which, prior to the date hereof, (i) any of the Collateral had been previously held or (ii) any place of business had been previously maintained by the Company
or any of its Subsidiaries, in each case, at any time during the past twelve months: 

________________________________________ 

________________________________________ 

Source:     UCC §§9-316 

4.     Fixtures. Set forth below is the information, other than a legal description, required by UCC
§9-502(b)(3) and (b)(4) of each state in which any of the Collateral consisting of fixtures are or are to be located and the address of the real estate on which such fixtures are or are to be located would be recorded: 

________________________________________ 

________________________________________ 

Source:     UCC §§9-501(a) and 9-502 

5.     Intellectual Property. The following is a complete list of all U.S. patents, copyrights, trademarks,
trade names and service marks registered or for which applications are pending in the name of the Company and each of the Subsidiaries: 

UNITED STATES: 
  

					
	a.	  	Patents	  	Registration Number
		
		  	_________________________________________________________








					
	b.	  	Copyrights	  	Registration Number
		
		  	_________________________________________________________
			
	c.	  	Trademarks, Trade Name
and Service Marks	  	Registration Number
		
		  	_________________________________________________________
		
	FOREIGN:	  	
			
	a.	  	Patents	  	Registration Number
		
		  	_________________________________________________________
			
	b.	  	Copyrights	  	Registration Number
		
		  	_________________________________________________________
			
	c.	  	Trademarks, Trade Name
and Service Marks	  	Registration Number
		
		  	_________________________________________________________


6.     Investment Property: Instruments. The following is a complete list of all stock, bonds,
debentures, notes, commodity contracts and other securities owned by the Company and each of the Subsidiaries (provide name of issuer and a description of security) and all securities accounts and commodity accounts owned by the Company and each of
the Subsidiaries (provide name of intermediary): 

                _________________________________________________________

 7.     Motor Vehicles. The following is a complete list of all motor vehicles owned by the
Company and each of the Subsidiaries (describe each vehicle by make, model, and year and indicate for each the state in which registered and the state in which based) with fair market value in excess of $30,000: 

                _________________________________________________________

 8.     Vessels. The following is a complete list of all vessels of the Company and each of the
Subsidiaries which are subject to any certificate of title or other registration statute of the United States, any state or any other jurisdiction: 

                _________________________________________________________

 9.     Other Titled Collateral. The following is a complete list of all aircraft and all other
inventory, equipment and other goods of the Company and each of the Subsidiaries which are subject to any certificate of title or other registration statute of the United States, any 






 
state or any other jurisdiction with a fair market value in excess of $30,000 (provide description of covered goods and indicate registration system and jurisdiction): 

                _________________________________________________________

 10.     Deposit Accounts. The following is a complete list of all Deposit accounts maintained by
the Company and each of the Subsidiaries (provide name and address of depository bank, type of account and account number): 

                _________________________________________________________

 11.     Commercial Tort Claims. The following is a complete list of claims arising in tort with
respect to which the Company or any of the Subsidiaries is claimant and which arose in the course of the Company’s or such Subsidiary’s business; together with case file numbers or other identification of such claim: 

                _________________________________________________________

 Source:     UCC §§9-102(a)(13), 9-108, 9-504 

12.     Unusual Transactions. All of the Collateral has been originated by the Company or a Subsidiary in the
ordinary course of the Company’s or such Subsidiary’s business or consists of goods which have been acquired by the Company or such Subsidiary in the ordinary course from a person in the business of selling goods of that kind, except for
the following Collateral which was obtained outside the ordinary course of business, including, but not limited to, transactions involving bulk transfers: 

                _________________________________________________________

 Source:     UCC §§1-201(9) 

13.     Timber. The following are all of the locations in the United States of America in which the Company
or any Subsidiary possesses any timber to be cut: 

                _________________________________________________________


                _________________________________________________________

 Source:     UCC §9-301(3)(B) and Official Comment 5(c) to 9-301. 

14.     Extracted Collateral. The following are all of the locations in the United States of America in which
the Company or any Subsidiary possesses any wellhead or minehead used in the extraction of minerals: 

                _________________________________________________________


                _________________________________________________________







 Source:     UCC §9-301(4) and Official Comment 5(d) to 9-301.

 15.     Farm Products. The following are all of the locations in the United States of America in
which the Company or any Subsidiary possesses any farm products as defined in UCC §9-102(34): 

                _________________________________________________________

 Source:     UCC §9-302. 

16.     Authorization. The undersigned hereby irrevocably authorizes Deutsche Bank Trust Company Americas, as
administrative agent (the “Secured Party”) at any time (including, without limitation, any time prior to the execution of a definitive security agreement) and from time to time to file in any filing office in any jurisdiction any
initial financing statements and amendments thereto and hereby ratifies its authorization for the Secured Party to have filed in any jurisdiction any initial financing statements or amendments thereto if filed prior to the date hereof. 

[signature page follows] 






 IN WITNESS WHEREOF, the undersigned has executed this Certificate as of
                         , 2010. 

 

			
	[NAME OF ENTITY]
		
	By: 	 	 
		 	Name:
		 	Title:








 EXHIBIT 7.2(a) 

[FORM OF] 

COMPLIANCE CERTIFICATE 

TPC GROUP LLC 

Date:                 
      ,            
 This
Compliance Certificate is given by TPC Group LLC (“Company”), for itself and its Subsidiaries, pursuant to Section 7.2(a) of that certain Amended and Restated Revolving Credit Agreement dated as of April 29, 2010
among Company, Texas Butylene Chemical Corporation, the Lenders signatory thereto from time to time, Deutsche Bank Trust Company Americas, as Administrative Agent, Collateral Agent and as Co-Collateral Agent and Wells Fargo Capital Finance, LLC as
Co-Collateral Agent (as such agreement may have been amended, restated, supplemented or otherwise modified from time to time, the “Revolving Credit Agreement”). Capitalized terms used herein without definition shall have the
meanings set forth in the Revolving Credit Agreement. 
 The undersigned is a Responsible Financial Officer of the Company and
is duly authorized to execute and deliver this Compliance Certificate on behalf of Company. By executing this Compliance Certificate such officer hereby certifies to the Administrative Agent and Lenders that: 

(a)     I have reviewed the terms of the Revolving Credit Agreement and the terms of the other Loan Documents, and
have made or caused to be made under my supervision, a review in reasonable detail of the transactions and conditions of Company and its Subsidiaries during the accounting period covered by the financial statements referenced in clause
(b) below; 
 (b)     to the best of my knowledge, the financial statements delivered with this
Compliance Certificate in accordance with Section 7.1[(b)]/[(c)] of the Revolving Credit Agreement fairly present in all material respects, in accordance with GAAP, the results of operations and financial condition of Company and its
Subsidiaries as of the dates of such financial statements; 
 (c)     The examination described in clause
(a) above did not disclose, and to the best of my knowledge there is no continuing condition or event that constitutes an Event of Default or Unmatured Event of Default, except as set forth on Schedule 1 hereto, which includes a description of
the nature and period of existence of such Event of Default or Unmatured Event of Default and what action Company has taken, is taking or proposes to take with respect thereto; 

(d)     except as set forth on Schedule 1 hereto, Borrowers are in compliance with the covenants contained in
Articles 7, 8 and 9 of the Revolving Credit Agreement, as demonstrated on Schedule 1 hereto; 






 (e)     the Consolidated Fixed Charge Coverage Ratio of the Company is
    :1.00 as set forth in the calculations set forth on Schedule 1 hereto; 

(f)     the Total Leverage Ratio of the Company is     :1.00 as set forth in the
calculations set forth on Schedule 2 hereto; based upon the calculation of the Total Leverage Ratio as set forth on Schedule 2 hereto, the Base Rate Loan Applicable Margin and the Eurocurrency Loan Applicable Margin shall be calculated using tier
             of the pricing grid in the definition of Applicable Margin; 

(g)     the Senior Secured Net Leverage Ratio of the Company is     :1.00 as set forth in
the calculations set forth on Schedule 3 hereto; 
 (h)     No new Subsidiary has been formed, acquired or
otherwise exists since the delivery of the last Compliance Certificate (other than the Credit Parities), [except as described on Schedule 4 hereto]; 

(i)     [Attached hereto as Schedule 5 are updated Schedule[s] [      ] to the
Security Agreement]; 
 (j)     [Except as set forth below], neither the Company nor any Credit Party has
changed its name, type of organization, jurisdiction of organization or location of its chief executive office since the date of the previous Compliance Certificate or as otherwise notified to Administrative Agent in writing; and 

(k)     the aggregate amount of cash or short-term investments subject to Liens described in clause (xii) of
the definition of “Customary Permitted Liens” is $                . 

The foregoing certifications, together with the computations set forth in the Schedules attached hereto and made a part hereof and the
financial statements delivered with this Compliance Certificate in support hereof, are made and delivered this          day of
                ,         . 

 

			
	TPC GROUP LLC
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 








 SCHEDULE 1 

CONDITIONS OR EVENTS THAT CONSTITUTE AN EVENT OF DEFAULT OR 

UNMATURED EVENT OF DEFAULT 

[If any condition or event exists that constitutes an Event of Default or an Unmatured Event of Default, specify nature and period of
existence and what action Company has taken, is taking or proposes to take with respect thereto; if no condition or event exists, state “None.”] 






 SCHEDULE 2 

TOTAL LEVERAGE RATIO 
  

			
	 1. Consolidated Debt of Company and its Subsidiaries
        (Last day of Test Period)
(Line 6)
	  	$____________
		
	 2. Consolidated EBITDA of Company and its Subsidiaries
        (Line 7 plus Line 8
minus Line 9)
	  	$____________
		
	 3. Total Leverage Ratio (Line 1 divided by Line
2)1
	  	_____________
		
	Consolidated Debt	  	
		
	4. Indebtedness of Company and its Subsidiaries determined on a consolidated basis to the extent classified on a balance sheet of Company and its Subsidiaries as liabilities in
accordance with GAAP (and in any event, but without duplication, including Disqualified Stock but excluding (a) Indebtedness related to Permitted Preferred Stock and Ordinary Equity Interests to the extent such amount is characterized as debt
due to SFAS 150 and (b) the mark-to-market exposure in respect of Interest Rate Agreements and Other Hedging Agreements)	  	$____________
		
	5. Attributable Debt of Company and its Subsidiaries determined on a consolidated basis	  	$____________
		
	6. Consolidated Debt (Line 4 plus Line 5)	  	$____________
		
	Consolidated EBITDA	  	
		
	 7. Consolidated Net Income
	  	$____________
		
	 8. To the extent deducted in computing Consolidated Net Income the sum of:
	  	
		
	 (a)         Consolidated Interest Expense
	  	$____________
		
	 (b)         charges against income for foreign, federal, state and local taxes in each case based on income
and for franchise taxes
	  	$____________
		
	 (c)        depreciation expense
	  	$____________

  

 

	1
	 Additional details relating to the Leverage Ratio to be provided upon request of Administrative Agent. 









			
		
	 (d)        amortization expense, including, without limitation, amortization of good will and other intangible
assets, fees, costs and expenses in connection with the execution, delivery and performance of any of the Transaction Documents and the Loan Documents and other fees, costs and expenses in connection with Acquisitions
	  	$____________
		
	 (e)        write-off of deferred financing costs originally incurred in connection with Indebtedness being
repaid on the Restatement Date
	  	$____________
		
	 (f)        non-cash charges resulting from any write-down of assets
	  	$____________
		
	 (g)        non-cash, non-recurring charges, including non-cash impairment, abandonment and restructuring
charges
	  	$____________
		
	 (h)        non-cash expenses for Capital Stock-based compensation related to Capital Stock-based compensation
plans that do not represent a cash item in any future period
	  	$____________
		
	 Sum of (a) through (h)
	  	$____________
		
	 9. To the extent added in computing Consolidated Net Income the sum of
	  	
		
	 (a)    non-cash nonrecurring after-tax gains (or minus non-cash nonrecurring after-tax losses)
	  	$____________
		
	 (b)        any gain resulting from any write-up of assets (other than with respect to any company owned life
insurance program)
	  	$____________
		
	 Sum of (a) and (b)
	  	$____________







 SCHEDULE 3 

SENIOR SECURED NET LEVERAGE RATIO 
  

			
	 1. Consolidated Debt of Company and its Subsidiaries

            (Last day of Test Period) (Line 6)
	  	$____________
		
	 2. Consolidated EBITDA of Company and its Subsidiaries

            (Schedule 2, Line 2)
	  	$____________
		
	3. Senior Secured Net Leverage Ratio (Line 1 divided by Line
2)2	  	_____________
		
	 Consolidated
Debt3

	  	
		
	4. Indebtedness of Company and its Subsidiaries determined on a consolidated basis to the extent classified on a balance sheet of Company and its Subsidiaries as liabilities in
accordance with GAAP (and in any event, but without duplication, including Disqualified Stock but excluding (a) Indebtedness related to Permitted Preferred Stock and Ordinary Equity Interests to the extent such amount is characterized as debt
due to SFAS 150 and (b) the mark-to-market exposure in respect of Interest Rate Agreements and Other Hedging Agreements)	  	$____________
		
	 5. Attributable Debt of Company and its Subsidiaries determined on a consolidated basis
	  	$____________
		
	 6. Consolidated Debt (Line 4 plus Line 5)
	  	$____________

  

 

	2
	 Additional details relating to the Leverage Ratio to be provided upon request of Administrative Agent. 



 

	3
	 For purposes of calculating the Senior Secured Net Leverage Ratio, Consolidated Debt shall only be calculated with respect to Indebtedness of the
Company and its Subsidiaries that is secured by a Lien as of a date of determination (net of unrestricted (in accordance with GAAP) Cash and Cash Equivalents of Credit Parties) and as of such date of determination subject to a perfected first
priority lien in favor of Collateral Agent. 








 SCHEDULE 4 

LIST OF ADDITIONAL SUBSIDIARIES 






 SCHEDULE 5 

CHANGES TO SECURITY AGREEMENT SCHEDULES 






 SCHEDULE 6 

MINIMUM CONSOLIDATED FIXED CHARGE COVERAGE RATIO 

(Section 9.1) 
  

			
	 1. Consolidated EBITDA of Company and its Subsidiaries

            (Schedule 2, Line 2)
	  	$____________
		
	2. (a) net cash payments with respect to income taxes and permitted Restricted Payments paid pursuant to Section 8.5(e)	  	$____________
		
	 (b) Consolidated Interest Expense
	  	$____________
		
	 (c) Capital Expenditures (except for Capital Expenditures financed with the proceeds of Indebtedness other than the Loans)
	  	$____________
		
	 (d) scheduled payments of principal on Indebtedness (other than repayments in the ordinary course of the Loans which do not permanently reduce the
Total Commitments)
	  	$____________
		
	 (e) Restricted Payments (other than Dividends paid with Permitted Unsecured Senior Debt Excess Proceeds) paid in cash during such Test Period except
to the extent such payments reduce Consolidated EBITDA for such period
	  	$____________
		
	3. Sum of 2 (a) through (e):	  	$____________
		
	 Fixed Charge Coverage
Ratio4:
	  	_________
	 (Line 1 divided by Line 3)
	  	
		
	 Fixed Charge Coverage Ratio Requirement
	  	1.10 to 1.00

  
  

 

	4
	 Although the Fixed Charge Coverage Ratio is calculated for each Fiscal Quarter, it is tested only if, at any time, during any Fiscal Quarter,
Availability is less than the greater of (i) 15% of Total Commitments and (ii) $15.0 million. Requirement stays in place until Availability exceeds the greater of clauses (i) and (ii) above for 30 consecutive days. Details
relating to the Fixed Charge Coverage Ratio to be provided upon request of Administrative Agent. 








 EXHIBIT 7.2(g) 

[FORM OF] 

BORROWING BASE CERTIFICATE 

Pursuant to Section 7.2(g) of the Amended and Restated Revolving Credit Agreement dated as of April 29, 2010, among TPC Group LLC, Texas
Butylene Chemical Corporation (collectively, the “Borrowers”), the financial institutions party thereto as Lenders, Deutsche Bank Trust Company Americas as Administrative Agent, Collateral Agent and Co-Collateral Agent and Wells
Fargo Capital Finance, LLC as Co-Collateral Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Revolving Credit Agreement”), the Borrowers hereby certify that as of the close of business on
[        ], the Borrowing Base is computed as set forth on the attachments hereto. Capitalized terms used herein and in the relevant attachments not otherwise defined herein shall have the meanings
specified in the Revolving Credit Agreement. 
 The calculation of the Borrowing Base and the determination of Eligible Inventory and Eligible
Accounts Receivable are based upon calculations and determinations made in accordance with the terms of the Revolving Credit Agreement. 
 The
Borrowers hereby certify that the foregoing and the attachments (if any) are true and correct in all material respects. The Borrowers hereby certify and warrant that, except as contemplated or permitted by the Revolving Credit Agreement, on the date
of this certificate, the Eligible Accounts Receivable and the Eligible Inventory reported herein are free and clear of all Liens other than Permitted Liens. 
  

			
	TPC GROUP LLC
		
	By:	 	 
	Name:	 	
	Title:	 	
		
	Date:	 	


			
	
	  
 TEXAS BUTYLENE CHEMICAL CORPORATION




			
		
	By:	 	 
	Name:	 	
		
	Title:	 	
		
	Date:	 	







 EXHIBIT 12.8(c) 

[FORM OF] 

ASSIGNMENT AND ASSUMPTION AGREEMENT 

This Assignment and Assumption Agreement (“Assignment”) is dated as of the Effective Date set forth below and is
entered into by and between the Assignor identified in item 1 below (“Assignor”) and the Assignee identified in item 2 below (“Assignee”). Capitalized terms used but not defined herein shall have the meanings given
to them in the Revolving Credit Agreement identified below (as amended, restated, supplemented or otherwise modified from time to time the “Revolving Credit Agreement”), receipt of a copy of which is hereby acknowledged by the
Assignee. The Standard Terms and Conditions set forth in Annex 1 to Exhibit A to the Revolving Credit Agreement are hereby agreed to and incorporated herein by reference and made a part of this Assignment as if set forth herein in full.

 For an agreed consideration, Assignor hereby irrevocably sells and assigns to Assignee, and Assignee hereby irrevocably
purchases and assumes from Assignor, subject to and in accordance with the Standard Terms and Conditions and the Revolving Credit Agreement, as of the Effective Date inserted by Administrative Agent as contemplated below, the interest in and to all
of Assignor’s rights and obligations under the Revolving Credit Agreement and any other documents or instruments delivered pursuant thereto that represents the amount and percentage interest identified below of all of Assignor’s
outstanding rights and obligations under the respective facilities identified below (including, to the extent included in any such facilities, Letters of Credit) (the “Assigned Interest”). Such sale and assignment is without
recourse to Assignor and, except as expressly provided in this Assignment, without representation or warranty by Assignor. 
  

					
	1.	  	Assignor:	  	________________________
			
	2.	  	Assignee:	  	________________________
			
	3.	  	Revolving Credit Agreement:	  	The Amended and Restated Revolving Credit Agreement dated as of April 29, 2010 among TPC Group LLC, Texas Butylene Chemical Corporation, the Lenders party thereto, Deutsche Bank
Trust Company Americas, as Administrative Agent and Collateral Agent and Deutsche Bank Trust Company Americas and Wells Fargo Capital Finance, LLC as Co-Collateral Agents.








	4.	Assigned Interest: 

  

																
	     Facility Assigned

 
	  	 Aggregate
Amount
of
Commitment/Loans
for all Lenders
  
	  	  	  	 Amount
of
Commitment/Loans
Assigned
  
	  	  	  	 Percentage
Assigned
of
Commitment/Loans1

 
	 	 	  
	
    Revolving Credit Facility

 
	  	$  
	_____________  
	  	 	  	$  
	_____________  
	  	 	  	_________  
	%   
	 	 

  

 
  
  

 
  

	1
	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans/L/C Participations of all Lenders thereunder. 








 Effective Date:
                             , 20     

The terms set forth in this Assignment are hereby agreed to: 

 

									
	 ASSIGNOR
 [NAME OF
ASSIGNOR]
	 		 	 ASSIGNEE
 [NAME OF
ASSIGNEE]

					
	By:	 	 	 		 	By:	 	 
		 	 Name:
	 	     Name:

		 	 Title:
	 	     Title:

				
		 		 		 	Payment Instructions:
		 		 		 	 
				
		 		 		 	 
				
		 		 		 	 
		 		 		 	
		 		 		 	Attention: ___________________________________
		 		 		 	Reference: __________________________________
		 		 		 	
		 		 		 	Address for Notices:
		 		 		 	 
				
		 		 		 	 
				
		 		 		 	 
		 		 		 	Relationship Contact: _________________________
		 		 		 	Telephone: _________________________________
		 		 		 	Fax: _______________________________________


[Consented to and] 2
 Accepted: 
 DEUTSCHE BANK TRUST COMPANY AMERICAS, as 

            Administrative Agent 

			
		
	By	 	 
		 	 Name:

		 	 Title:

	  
 [Consented
to:]3



 
  

	2
	 To be added only if the consent of the Administrative Agent is required by the terms of Section 12.8 of the Revolving Credit Agreement.



  

	3
	 To be added only in the circumstances set forth in Section 12.8 of the Revolving Credit Agreement. 









			
	TPC GROUP LLC
		
	By	 	 
		 	 Name:

		 	 Title:



			
	
	TEXAS BUTYLENE CHEMICAL CORPORATION


			
		
	By:	 	 
		 	 Name:

		 	 Title:








 ANNEX 1 

TO ASSIGNMENT 

STANDARD TERMS AND CONDITIONS FOR ASSIGNMENT 

AND ASSUMPTION AGREEMENT 

1. Representations and Warranties. 

1.1. Assignor. Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned
Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and to consummate
the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with any Loan Document, (ii) the execution, legality, validity,
enforceability, genuineness, sufficiency or value of the Revolving Credit Agreement or any other instrument or document delivered pursuant thereto, other than this Assignment, or any collateral thereunder, (iii) the financial condition of the
Borrowers, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrowers, any of its Subsidiaries or Affiliates or any other Person of any of their
respective obligations under any Loan Document. 
 1.2. Assignee. Assignee (a) represents and warrants that
(i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and to consummate the transactions contemplated hereby and to become a Lender under the Revolving Credit Agreement, (ii) it
meets all requirements of an Eligible Assignee under the Revolving Credit Agreement, (iii) from and after the Effective Date, it shall be bound by the provisions of the Revolving Credit Agreement and, to the extent of the Assigned Interest,
shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Revolving Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 7.1 thereof, as applicable,
and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and to purchase the Assigned Interest on the basis of which it has made such analysis and decision, and
(v) if it is a Lender organized under the law of a jurisdiction outside of the United States, attached to the Assignment is any documentation required to be delivered by it pursuant to the terms of the Revolving Credit Agreement, duly completed
and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be
performed by it as a Lender. 
 2. Payments. From and after the Effective Date, the Agent shall make all payments in
respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to Assignor for amounts which have accrued to but excluding the Effective Date and to Assignee for amounts which have accrued from and after the
Effective Date. 






 General Provisions. This Assignment shall be binding upon, and inure to the benefit of, the parties
hereto and their respective successors and assigns. This Assignment may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment by telecopy
shall be effective as delivery of a manually executed counterpart of this Assignment. THIS ASSIGNMENT SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL
OBLIGATIONS LAW). 






 Schedule 1.1(c) 

Permitted Subordinated Debt Provisions 

See attached 






 Permitted Subordinated Debt Provisions 

ARTICLE 1  

SUBORDINATION 

1.01 Agreement To Subordinate. The Issuer agrees, and each Holder by accepting a Note agrees, that the payment of all Obligations
owing in respect of the Notes is subordinated in right of payment, to the extent and in the manner provided in this Article 1, to the prior payment in full of all existing and future Senior Indebtedness of the Issuer and that the subordination is
for the benefit of and enforceable by the holders of such Senior Indebtedness. The Notes shall in all respects rank pari passu in right of payment with all existing and future Pari Passu Indebtedness of the Issuer, and will be senior in right
of payment to all existing and future Subordinated Indebtedness of the Issuer; and only Indebtedness of the Issuer that is Senior Indebtedness shall rank senior to the Notes in accordance with the provisions set forth herein. All provisions of this
Article 1 shall be subject to Section 1.12. 
 1.02 Liquidation, Dissolution, Bankruptcy. Upon any payment or
distribution of the assets of the Issuer to creditors upon a total or partial liquidation or a total or partial dissolution of the Issuer or in a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Issuer or
its property: 
 (i)      the holders of Senior Indebtedness of the Issuer shall
be entitled to receive payment in full in cash of such Senior Indebtedness before Holders shall be entitled to receive any payment; and 

(ii) until the Senior Indebtedness of the Issuer is paid in full in cash, any payment or distribution to which Holders
would be entitled but for the subordination provisions hereof shall be made to holders of such Senior Indebtedness as their interests may appear, except that Holders may receive Permitted Junior Securities. 

1.03       Default on Senior Indebtedness of the Issuer. The Issuer shall not pay principal of,
premium, if any, or interest on the Notes (or pay any other Obligations relating to the Notes, including Additional Interest, fees, costs, expenses, indemnities and rescission or damage claims) or make any deposit pursuant to Article 8 [Discharge
of Indenture/Defeasance] or Article 13 [Miscellaneous] hereof and may not purchase, redeem or otherwise retire any Notes (collectively, “pay the Notes”) (except in the form of Permitted Junior Securities) if either of the
following occurs (a “Payment Default”): 
 (i) any Obligation on any Designated Senior
Indebtedness of the Issuer is not paid in full in cash when due (after giving effect to any applicable grace period); or 

(ii) any other default on Designated Senior Indebtedness of the Issuer occurs and the maturity of such Designated Senior
Indebtedness is accelerated in accordance with its terms; 
 unless, in either case, the Payment Default has been cured or
waived and any such acceleration has been rescinded or such Designated Senior Indebtedness has been paid in full in 






 
cash; provided, however, that the Issuer shall be entitled to pay the Notes without regard to the foregoing if the Issuer and the Trustee receive written notice approving such
payment from the Representatives of all Designated Senior Indebtedness with respect to which the Payment Default has occurred and is continuing. 

During the continuance of any default (other than a Payment Default) (a “Non-Payment Default”) with respect to any
Designated Senior Indebtedness of the Issuer pursuant to which the maturity thereof may be accelerated without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the
Issuer shall not pay the Notes (except in the form of Permitted Junior Securities) for a period (a “Payment Blockage Period”) commencing upon the receipt by the Trustee (with a copy to the Issuer) of written notice (a
“Blockage Notice”) of such Non-Payment Default from the Representative of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter. So long as there shall
remain outstanding any Senior Indebtedness under the Senior Credit Facilities, a Blockage Notice may be given only by the administrative agent thereunder unless otherwise agreed to in writing by the requisite lenders named therein. The Payment
Blockage Period shall end earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Issuer from the Person or Persons who gave such Blockage Notice; (ii) because the default giving rise to such
Blockage Notice is cured, waived or otherwise no longer continuing; or (iii) because such Designated Senior Indebtedness has been discharged or repaid in full in cash. 

Notwithstanding the provisions described in the immediately preceding two sentences (but subject to the provisions contained in the
first sentence of this Section 1.03 and Section 1.02 hereof), unless the holders of such Designated Senior Indebtedness or the Representative of such Designated Senior Indebtedness shall have accelerated the maturity of such Designated
Senior Indebtedness or a Payment Default has occurred and is continuing, the Issuer shall be entitled to resume paying the Notes after the end of such Payment Blockage Period. The Notes shall not be subject to more than one Payment Blockage Period
in any consecutive 360-day period irrespective of the number of defaults with respect to Designated Senior Indebtedness of the Issuer during such period; provided that if any Blockage Notice is delivered to the Trustee by or on behalf of the
holders of Designated Senior Indebtedness of the Issuer (other than the holders of Indebtedness under the Senior Credit Facilities), a Representative of holders of Indebtedness under the Senior Credit Facilities may give another Blockage Notice
within such period. However, in no event shall the total number of days during which any Payment Blockage Period or Periods on the Notes is in effect exceed 179 days in the aggregate during any consecutive 360-day period, and there must be at least
181 days during any consecutive 360-day period during which no Payment Blockage Period is in effect. Notwithstanding the foregoing, however, no default that existed or was continuing on the date of delivery of any Blockage Notice to the Trustee
shall be, or be made, the basis for a subsequent Blockage Notice unless such default shall have been waived for a period of not less than 90 days (it being acknowledged that any subsequent action, or any breach of any financial covenants during the
period after the date of delivery of a Blockage Notice, that, in either case, would give rise to a Non-Payment Default pursuant to any provisions under which a Non-Payment Default previously existed or was continuing shall constitute a new
Non-Payment Default for this purpose). 






 1.04 Acceleration of Payment of Notes. If payment of the Notes is accelerated because
of an Event of Default, the Issuer shall promptly notify the holders of the Designated Senior Indebtedness of the Issuer or the Representative of such Designated Senior Indebtedness of the acceleration; provided that any failure to give such
notice shall have no effect whatsoever on the provisions of this Article 1. If any Designated Senior Indebtedness of the Issuer is outstanding, the Issuer may not pay the Notes until five Business Days after the holders of such Designated Senior
Indebtedness (or their Representatives) receive notice of such acceleration and, thereafter, may pay the Notes only if this Indenture otherwise permits payment at that time. 

1.05 When Distribution Must Be Paid Over. If a distribution is made to Holders that, due to the subordination provisions contained
in this Article, should not have been made to them, such Holders or the Trustee are required to hold it in trust for the holders of Senior Indebtedness of the Issuer and pay it over to them as their interests may appear. 

1.06 Subrogation. After all Senior Indebtedness of the Issuer is paid in full and until the Notes are paid in full, Holders shall
be subrogated to the rights of holders of such Senior Indebtedness to receive distributions applicable to such Senior Indebtedness. A distribution made under this Article 1 to holders of such Senior Indebtedness which otherwise would have been made
to Holders is not, as between the Issuer and Holders, a payment by the Issuer on such Senior Indebtedness. 
 1.07 Relative
Rights. This Article 1 defines the relative rights of Holders and holders of Senior Indebtedness of the Issuer. Nothing in this Indenture shall: 

(i)        impair, as between the Issuer and Holders, the obligation of the
Issuer, which is absolute and unconditional, to pay principal of and interest on the Notes in accordance with their terms; 

(ii)        prevent the Trustee or any Holder from exercising its available
remedies upon a Default, subject to the rights of holders of Senior Indebtedness of the Issuer to receive payments or distributions otherwise payable to Holders and such other rights of such holders of Senior Indebtedness as set forth herein; or

 (iii)        affect the relative rights of Holders and creditors of
the Issuer other than their rights in relation to holders of Senior Indebtedness. 
 1.08 Subordination May Not Be Impaired
by Issuer. No right of any holder of Senior Indebtedness of the Issuer to enforce the subordination of the Indebtedness evidenced by the Notes shall be impaired by any act or failure to act by the Issuer or by its failure to comply with this
Indenture. 
 1.09 Rights of Trustee and Paying Agent. Notwithstanding Section 1.03 hereof, the Trustee or any
Paying Agent may continue to make payments on the Notes and shall not be charged with knowledge of the existence of facts that would prohibit the making of any payments unless, not less than two Business Days prior to the date of such payment, a
Responsible Officer of the Trustee receives notice satisfactory to him that payments may not be made under this Article 1. The Issuer, the Registrar, the Paying Agent, a Representative or a holder of Senior Indebtedness of the Issuer shall be
entitled to give the notice; provided,  






 
however, that, if an issue of Senior Indebtedness of the Issuer has a Representative, only the Representative shall be entitled to give the notice. 

The Trustee in its individual or any other capacity shall be entitled to hold Senior Indebtedness of the Issuer with the same rights it
would have if it were not Trustee. The Registrar and the Paying Agent shall be entitled to do the same with like rights. The Trustee shall be entitled to all the rights set forth in this Article 1 with respect to any Senior Indebtedness of the
Issuer which may at any time be held by it, to the same extent as any other holder of such Senior Indebtedness; and nothing in Article 7 [Trustee] shall deprive the Trustee of any of its rights as such holder. Nothing in this Article 1 shall
apply to claims of, or payments to, the Trustee under or pursuant to Section 7.07 [Compensation and Indemnity] hereof or any other Section of this Indenture. 

1.10 Distribution or Notice to Representative. Whenever a distribution is to be made or a notice given to holders of Senior
Indebtedness of the Issuer, the distribution may be made and the notice given to their Representative (if any). 
 1.11
Article 1 Not To Prevent Events of Default or Limit Right To Accelerate. The failure to make a payment pursuant to the Notes by reason of any provision in this Article 1 shall not be construed as preventing the occurrence of a Default.
Nothing in this Article 1 shall have any effect on the right of the Holders or the Trustee to accelerate the maturity of the Notes. 

1.12 Trust Moneys Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds
of Government Securities held in trust by the Trustee for the payment of principal of and interest on the Notes pursuant to Article 8 [Discharge of Indenture/Defeasance]or Article 13 [Miscellaneous] hereof shall not be
subordinated to the prior payment of any Senior Indebtedness of the Issuer or subject to the restrictions set forth in this Article 1, and none of the Holders shall be obligated to pay over any such amount to the Issuer or any holder of Senior
Indebtedness of the Issuer or any other creditor of the Issuer, provided that the subordination provisions of this Article 1 were not violated at the time the applicable amounts were deposited in trust pursuant to Article 8 or Article 13
hereof, as the case may be. 
 1.13 Trustee Entitled To Rely. Upon any payment or distribution pursuant to this Article
1, the Trustee and the Holders shall be entitled to rely (a) upon any order or decree of a court of competent jurisdiction in which any proceedings of the nature referred to in Section 1.02 hereof are pending, (b) upon a certificate
of the liquidating trustee or agent or other Person making such payment or distribution to the Trustee or to the Holders or (c) upon the Representatives of Senior Indebtedness of the Issuer for the purpose of ascertaining the Persons entitled
to participate in such payment or distribution, the holders of such Senior Indebtedness and other Indebtedness of the Issuer, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent
thereto or to this Article 1. In the event that the Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Senior Indebtedness of the Issuer to participate in any payment or distribution
pursuant to this Article 1, the Trustee shall be entitled to request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such Person, the extent to which such Person is
entitled to participate in such payment or distribution 






 
and other facts pertinent to the rights of such Person under this Article 1, and, if such evidence is not furnished, the Trustee shall be entitled to defer any payment to such Person pending
judicial determination as to the right of such Person to receive such payment. The provisions of Sections 7.01 [Duties of Trustee] and 7.02 [Rights of Trustee] hereof shall be applicable to all actions or omissions of actions by the
Trustee pursuant to this Article 1. 
 1.14 Trustee To Effectuate Subordination. A Holder by its acceptance of a Note
agrees to be bound by this Article 1 and authorizes and expressly directs the Trustee, on his behalf, to take such action as may be necessary or appropriate to effectuate the subordination between the Holders and the holders of Senior Indebtedness
of the Issuer as provided in this Article 1 and appoints the Trustee as attorney-in-fact for any and all such purposes. 

1.15 Trustee Not Fiduciary for Holders of Senior Indebtedness of the Issuer. The Trustee shall not be deemed to owe any
fiduciary duty to the holders of Senior Indebtedness of the Issuer and shall not be liable to any such holders if it shall mistakenly pay over or distribute to Holders or the Issuer or any other Person, money or assets to which any holders of Senior
Indebtedness of the Issuer shall be entitled by virtue of this Article 1 or otherwise. 
 1.16 Reliance by Holders of Senior
Indebtedness of the Issuer on Subordination Provisions. Each Holder by accepting a Note acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any
Senior Indebtedness of the Issuer, whether such Senior Indebtedness was created or acquired before or after the issuance of the Notes, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of such Senior
Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness. 

Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness of the Issuer may, at any time
and from time to time, without the consent of or notice to the Trustee or the Holders, without incurring responsibility to the Trustee or the Holders and without impairing or releasing the subordination provided in this Article 1 or the
obligations hereunder of the Holders to the holders of the Senior Indebtedness of the Issuer, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior
Indebtedness of the Issuer, or otherwise amend or supplement in any manner Senior Indebtedness of the Issuer, or any instrument evidencing the same or any agreement under which Senior Indebtedness of the Issuer is outstanding; (ii) sell,
exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness of the Issuer; (iii) release any Person liable in any manner for the payment or collection of Senior Indebtedness of the Issuer;
and (iv) exercise or refrain from exercising any rights against the Issuer and any other Person. 
 1.17
Definitions. 






 “Designated Senior Indebtedness” means (a) any and all
Indebtedness outstanding under the Senior Credit Facilities and (b) any other Senior Indebtedness with a principal amount in excess of
$                
1. 

“guarantee” means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course
of business, direct or indirect, in any manner including, without limitation, through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness or other obligations. 

“Guarantee” means any guarantee of the obligations of the Issuer under this Indenture and the Notes by a Guarantor in
accordance with the provisions of this Indenture. When used as a verb, “Guarantee” shall have a corresponding meaning. 

“Guarantor” means any Person that incurs a Guarantee of the Notes; provided that upon the release and discharge
of such Person from its Guarantee in accordance with this Indenture, such Person shall cease to be a Guarantor. 

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

(1)        currency exchange, interest rate or commodity swap agreements,
currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements; and 

(2)        other agreements or arrangements designed to protect such Person
against fluctuations in currency exchange, interest rates or commodity prices. 
 “Indebtedness” means, with
respect to any Person, 
 (a) any indebtedness (including principal and premium) of such Person, whether or not contingent,

 (i)        in respect of borrowed money, 

(ii)        evidenced by bonds, notes, debentures or similar instruments or
letters of credit (or, without double counting, reimbursement agreements in respect thereof), 

(iii)        representing the balance deferred and unpaid of the purchase price
of any property (including Capitalized Lease Obligations), except (A) any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case accrued in the ordinary course of business and
(B) reimbursement obligations in respect of trade letters of credit obtained in the ordinary course of business with expiration dates not in excess of 365 days from the date of issuance (x) to the extent undrawn or (y) if drawn,
to the extent repaid in full within 20 business days of any such drawing, or 

(iv)        representing any Hedging Obligations, if and to the extent that any
of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would 
  

	1
	to be agreed by Company and Administrative Agent at time of issuance. 







 
appear as a liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP, 

(b) Disqualified Stock of such Person, 

(c) to the extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor, guarantor or otherwise,
on the Indebtedness of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business), 

(d) to the extent not otherwise included, Indebtedness of another Person secured by a Lien on any asset owned by such Person (whether or
not such Indebtedness is assumed by such Person), and 
 (e) to the extent not otherwise included, the amount then outstanding
(i.e., advanced, and received by, and available for use by, the Issuer or any of its Restricted Subsidiaries) under any Securitization Financing (as set forth in the books and records of the Issuer or any Restricted Subsidiary and confirmed by the
agent, trustee or other representative of the institution or group providing such Securitization Financing). 

“Issuer” means TPC Group LLC. 

“Pari Passu Indebtedness” means: 

(1)        with respect to the Issuer, the Notes and any Indebtedness which ranks pari
passu in right of payment to the Notes; and 
 (2)        with respect to any
Guarantor, its Guarantee and any Indebtedness which ranks pari passu in right of payment to such Guarantor’s Guarantee. 

“Permitted Junior Securities” means unsecured debt of the Issuer or any Guarantor or any successor corporation or
equity securities of any direct or indirect parent entity or any successor corporation that are subordinated to the payment of all then outstanding Senior Indebtedness of the Issuer or any Guarantor, as applicable, at least to the same extent that
the Notes are subordinated to the payment of all Senior Indebtedness of the Issuer or any Guarantor, as applicable, on the Issue Date; provided that if any Senior Indebtedness of the Issuer or any Guarantor, as applicable, outstanding on the
date of consummation of any such plan of reorganization or readjustment is not paid in full in cash on such date, the holders of any such Senior Indebtedness not so paid in full in cash have consented to the terms of such plan of reorganization or
readjustment. 
 “Revolving Credit Agreement” means that certain Amended and Restated Revolving Credit
Agreement dated as of April 29, 2010 among the Issuer, certain other subsidiaries of the Issuer from time to time party thereto, the Lenders party thereto, Deutsche Bank Trust Company Americas, as Administrative Agent, Collateral Agent and
Co-Collateral Agent, Wells Fargo Capital Finance, LLC as Co-Collateral Agent and the other agents and lenders party thereto from time to time, including any related notes, guarantees, collateral documents, instruments and agreements executed in
connection therewith, and in each case as amended, restated, supplemented, modified, renewed, refunded, replaced or refinanced from time to time in one or more agreements or indentures (in each case with the same or new lenders or institutional
investors), including any agreement or indenture extending the maturity thereof or 






 
otherwise restructuring all or any portion of the Indebtedness thereunder or increasing the amount loaned or issued thereunder or altering the maturity thereof. 

“Senior Credit Facilities” mean (i) Term Loan Agreement and (ii) Revolving Credit Agreement and all
collateral documents, guaranties, agreements and instruments executed in connection with either of the foregoing, in each case, as amended, amended and restated, supplemented, extended, modified, renewed, refunded, replaced or refinanced from time
to time, including, without limitation, increases in principal amount and extensions of term loans and other financings. 

“Senior Indebtedness” means: 

(1)        all Indebtedness of the Issuer or any Guarantor outstanding under the Senior Credit
Facilities and related guarantees (including interest accruing on or after the filing of any petition in bankruptcy or similar proceeding or for reorganization of the Issuer or any Guarantor (at the rate provided for in the documentation with
respect thereto, regardless of whether or not a claim for post-filing interest is allowed in such proceedings)), and any and all other fees, expense reimbursement obligations, indemnification amounts, penalties, and other amounts (whether existing
on the Issue Date or thereafter created or incurred) and all obligations of the Issuer or any Guarantor to reimburse any bank or other Person in respect of amounts paid under letters of credit, acceptances or other similar instruments; 

(2)        all Hedging Obligations (and guarantees thereof) owing to a Lender (as defined in the
Senior Credit Facilities) or any Affiliate of such Lender (or any Person that was a Lender or an Affiliate of such Lender at the time the applicable agreement giving rise to such Hedging Obligation was entered into), provided that such
Hedging Obligations are permitted to be incurred under the terms of this Indenture; 

(3)        any other Indebtedness (including Hedging Obligations) of the Issuer or any Guarantor
(other than the Notes) permitted to be incurred under the terms of this Indenture, unless the instrument under which such Indebtedness is incurred expressly provides that it is on a parity with or subordinated in right of payment to the Notes or any
related Guarantee; 
 (4)        any deferrals, renewals, refinancings, replacements or
extensions of such Senior Indebtedness; and 
 (5)        all obligations with respect
to the items listed in the preceding clauses (1), (2), (3) and (4); 
 provided, however, that Senior Indebtedness shall not
include: 
 (a)        any obligation of such Person to the Issuer or
any of its Subsidiaries; 
 (b)        any liability for federal, state,
local or other taxes owed or owing by such Person; 






 (c)        any accounts payable or
other liability to trade creditors arising in the ordinary course of business (including guarantees thereof or instruments evidencing such liability); 

(d)        any Indebtedness or other Obligation of such Person which is
subordinate or junior in any respect to any other Indebtedness or other Obligation of such Person; 

(e)        any obligations with respect to any capital stock of the Issuer except
in respect of mandatory redemptions thereof; or 
 (f)        that
portion of any Indebtedness which at the time of incurrence is incurred in violation of this Indenture. 

“Subordinated Indebtedness” means, with respect to the Notes, 

(1)        any Indebtedness of the Issuer which is by its terms subordinated in right of payment
to the Notes, and 
 (2)        any Indebtedness of any Guarantor which is by its terms
subordinated in right of payment to the Guarantee of such entity of the Notes. 
 “Term Loan Agreement” means
that certain Term Loan Agreement dated as of June 27, 2006 among the Issuer, the Lenders party thereto and Deutsche Bank Trust Company Americas, as Administrative Agent and the other agents and lenders party thereto from time to time, including
any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, supplemented, modified, renewed, refunded, replaced or refinanced from time to time in one or
more agreements or indentures (in each case with the same or new lenders or institutional investors), including any agreement or indenture extending the maturity thereof or otherwise restructuring all or any portion of the Indebtedness thereunder or
increasing the amount loaned or issued thereunder or altering the maturity thereof. 






 Schedule 6.10 

ERISA; Foreign Pension Plans 

None 






 Schedule 6.11(c) 

Owned or Leased Real Property 
  

									
	  	  	Property Address	  	Owner/Lessee	  	Type of Interest	  	Subject
to
Mortgage?
	
1.
	  	Louisiana, Calcasieu Parish, Louisiana, 3524 City Service Highway, Westlake	  	Fred & Juanita Vincent/ Texas Butylene Chemical Corporation	  	Lease	  	No
	
2.
	  	Texas, Harris County, 8600 Park Place Blvd., Houston	  	TPC Group LLC	  	Fee Title	  	Yes
	
3.
	  	Texas, Harris County, 4601 Baker Road, Baytown	  	TPC Group LLC	  	Fee Title	  	Yes
	
4.
	  	Texas, Harris County, 5151 San Felipe, Suite 800, Houston	  	 Sage Plaza One LTD/

TPC Group LLC
	  	Lease	  	No
	
5.
	  	Texas, Harris, Parking Lot adjacent to TPC Houston plant	  	 John Franze/

TPC Group LLC
	  	Lease	  	No
	
6.
	  	Texas, Jefferson; C4 Plant Site in Port Neches	  	TPC Group LLC	  	Fee Title	  	Yes
	
7.
	  	Texas, Jefferson; Isoprene Unit Site in Port Neches	  	TPC Group LLC	  	Fee Title	  	Yes
	
8.
	  	Texas, Jefferson; Wedge Tract in Port Neches	  	TPC Group LLC	  	Fee Title	  	Yes
	
9.
	  	Texas, Jefferson; Flare Site in Port Neches	  	TPC Group LLC	  	Fee Title	  	Yes
	
10.
	  	Texas, Jefferson; Loading Rack Site in Port Neches	  	TPC Group LLC	  	Fee Title	  	Yes
	
11.
	  	Texas, Jefferson; Joint Wastewater Treatment Plant in Port Neches	  	 Huntsman Petrochemical Corporation/

TPC Group LLC
	  	 16.01% undivided interest,

in a tenancy in common with Huntsman Petrochemical Corporation
	  	Yes
	
12.
	  	Texas, Jefferson; Land Farm Site in Port Neches	  	 Huntsman Petrochemical Corporation/

TPC Group LLC
	  	16.01% undivided interest, in a tenancy in common with Huntsman Petrochemical Corporation	  	Yes
	
13.
	  	Texas, Jefferson; Dock Site in Port Neches	  	 Huntsman Petrochemical Corporation/

TPC Group LLC
	  	50% undivided interest, in a tenancy in common with Huntsman Petrochemical Corporation	  	Yes
	
14.
	  	Texas, Jefferson; River Pump House Site in Port Neches	  	TPC Group LLC	  	Fee Title	  	Yes







 Schedule 6.14 

Capitalization of Company 
  

			
	Owner	 	Type and Percentage of Interest
	TPC Group Inc.	 	100% common stock







 Schedule 6.15(a) 

Subsidiaries 
  

											
	Legal Name	  	Jurisdiction  
of  

Organization  	  	State  
Identification  

Number  	  	Federal  
Employer  

Identification  
Number  	  	
Ownership  

(by Holder  
and  
Percentage  
Interest)  
	  	Subsidiary  

Guarantor?  
	TP Capital Corp.	  	Delaware	  	3783577	  	20-0926248	  	100% TPC Group LLC	  	Yes
	Texas Butylene Chemical Corporation	  	Texas	  	66131300	  	76-0107440	  	100% TPC Group LLC	  	Yes
	Texas Olefins Domestic-International Sales Corporation	  	Texas	  	47946200	  	74-2054241	  	100% TPC Group LLC	  	Yes
	Port Neches Fuels, LLC	  	Delaware	  	4178893	  	68-0631641	  	100% TPC Group LLC	  	Yes







 Schedule 6.19 

Environmental Matters 
 In
January 2009, the Company signed an Agreed Corrective Action Order (“ACAO”) with the Texas Commission on Environmental Quality (“TCEQ”) related to the Houston facility. The ACAO was approved by the TCEQ Commissioners in April
2009 following a public agenda hearing. The ACAO obligates the Company to undertake a five-year $20 million incremental spending program on projects designed to enhance environmental performance that would not normally have been done as part of
routine maintenance at the Houston facility. The Company expects to implement the required measures and incur the incremental spending through a combination of (a) increases in annual maintenance and capital expenditures throughout the
five-year period and (b) additional expenditures in connection with regularly scheduled turnarounds (typically occurring every three to four years). 






 Schedule 6.23 

Business and Collateral Locations 

Principal Place of Business and Chief Executive Office: 
  

							
	Credit Party	  	Mailing Address	  	Landlord (if applicable, including
address and
telephone number)	  	County, State
	All Credit Parties	  	 5151 San Felipe, Suite 800

Houston, Texas 77056
	  	 Sage Plaza One LTD

2121 Sage Rd, Suite 333
 Houston, TX
77056
 (713) 622-0000 x 22
	  	Harris, Texas


Business Locations: 
  

									
	Credit Party	  	Mailing Address	  	Landlord (if applicable, including
address 
and telephone number)	  	County, State	  	Purpose
	TPC Group LLC	  	 5151 San Felipe, Suite 800

Houston, Texas 77056
	  	 Sage Plaza One LTD

2121 Sage Rd, Suite 333
 Houston, TX
77056
 (713) 622-0000 x 22
	  	Harris, Texas	  	Corporate Office
and Collateral
Location
	  	 4601 Baker Road

Baytown, Texas 77512
	  	Owned	  	Harris, Texas	  	Corporate Office and Collateral Location
	  	 8600 Park Place Blvd,

Houston, TX 77017
	  	Owned	  	Harris, Texas	  	Corporate Office and Collateral Location
	  	 2102 Spur 136

Port Neches, Texas 77651
	  	Owned	  	Jefferson, Texas	  	Corporate Office and Collateral
Location










									
	Credit Party	  	Mailing Address	  	Landlord (if applicable, including
address 
and telephone number)	  	County, State	  	Purpose
	TP Capital Corp.	  	 5151 San Felipe, Suite 800

Houston, Texas 77056
	  	 Sage Plaza One LTD

2121 Sage Rd, Suite 333
 Houston, TX
77056
 (713) 622-0000 x 22
	  	Harris,
Texas	  	Corporate Office and Collateral Location
	Texas Butylene Chemical
Corporation	  	 5151 San Felipe, Suite 800

Houston, Texas 77056
	  	 Sage Plaza One LTD

2121 Sage Rd, Suite 333
 Houston, TX
77056
 (713) 622-0000 x 22
	  	Harris,
Texas	  	Corporate Office and Collateral Location
	  	 3524 Cities Service Highway

Westlake, LA 70669
	  	 Fred & Juanita Vincent

2425 Katy Drive
 Sulfur LA 70665

Tel # Not Applicable
	  	Calcasieu,
Louisiana	  	Corporate Office and Collateral Location
	Texas Olefins Domestic-
International Sales
Corporation	  	 5151 San Felipe, Suite 800

Houston, Texas 77056
	  	 Sage Plaza One LTD

2121 Sage Rd, Suite 333
 Houston, TX
77056
 (713) 622-0000 x 22
	  	Harris,
Texas	  	Corporate Office and Collateral Location
	Port Neches Fuels, LLC	  	 5151 San Felipe, Suite 800

Houston, Texas 77056
	  	 Sage Plaza One LTD

2121 Sage Rd, Suite 333
 Houston, TX
77056
 (713) 622-0000 x 22
	  	Harris,
Texas	  	Corporate Office and Collateral Location
	 	  	 2102 Spur 136

Port Neches, Texas 77651
	  	Owned	  	Jefferson,
Texas	  	Corporate Office and Collateral Location







 Other Collateral Locations: 

 

									
	Credit Party
Maintaining
Collateral	  	  Landlord or Operator 
 	  	Location Address	  	City, State, Zip	  	Purpose
	All Credit Parties	  	 Texas Brine

(713) 433-4595
	  	3000 Feldmon Road	  	Houston, Texas 77045	  	Inventory Location
	All Credit Parties	  	 Afton Chemical

(618) 853 - 1377
	  	501 Monsanto Ave	  	Sauget, Illinois 62201	  	Inventory Location
	All Credit Parties	  	 UNIVAR

832-467-5012
	  	11235 FM 529	  	Houston, Texas 77041	  	Inventory Location
	All Credit Parties	  	 Third Coast Terminals

(281) 997-4300
	  	1871 Mykawa Road	  	Pearland, Texas 77851	  	Terminal
	All Credit Parties	  	 CSXT Transflo

(518) 458-7233
	  	One Exchange St.	  	Albany, New York 12205	  	Inventory Location
	All Credit Parties	  	 Wolflake Terminals

(219) 937-4300
	  	3200 Sheffield Avenue	  	Hammond, Indiana 46325	  	Terminal
	All Credit Parties	  	 Afton Chemical

(713) 740-8424
	  	1000 N. South Avenue	  	Pasadena, Texas 77503	  	Inventory Location
	All Credit Parties	  	 Targa Resources

(713) 450-7200
	  	12510 American Petroleum Rd.	  	Galena Park, Texas 77547	  	Inventory Location
	All Credit Parties	  	 South Coast Terminal

713-672-2401
	  	7301 Wallisville Road	  	Houston, Texas 77020	  	Terminal
	All Credit Parties	  	 RailLogix LP

281-842-8482
	  	1920 South
16th Street	  	LaPorte, Texas 77571	  	Inventory Location
	All Credit Parties	  	 Greensport Terminal

281-455-8800
	  	1755 Federal Road	  	Houston, Texas 77015	  	Inventory Location
	All Credit Parties	  	 TPC Group LLC

713-627-7474
	  	5151 San Felipe, Suite 800	  	Houston, Texas 77056	  	Corporate Office and Collateral Location
	All Credit Parties	  	 TPC Group LLC

281-424-2551
	  	4601 Baker Road	  	Baytown, Texas 77512	  	Corporate Office and Collateral Location
	All Credit Parties	  	 TPC Group LLC

713-477-9211
	  	8600 Park Place Blvd.	  	Houston, TX 77017	  	Corporate Office and Collateral Location
	All Credit Parties	  	 TPC Group LLC

409-724-4977
	  	2102 Spur 136	  	Port Neches, Texas 77651	  	Corporate Office and Collateral Location
	All Credit Parties	  	 TPC Group LLC

337-882-1380
	  	3524 Cities Service Highway	  	Westlake, LA 70669	  	Corporate Office and Collateral Location







 Schedule 6.24 

Accounts 
  

					
	  	  	Account No.	  	Account Holder
	 Bank of
America
 135 South La Salle St., Suite 1525

Chicago, Illinois 60603
	  	 	  	 
	1. Master Funding	  	5590 075 528	  	TPC Group LLC
	2. Master Collection	  	5800 912 999	  	TPC Group LLC
	3. Employee Payroll	  	5590 07 5544	  	TPC Group LLC
	4. Accounts Payable	  	5590 09 5252	  	TPC Group LLC
	5. Investment Account	  	24901415	  	TPC Group LLC
	6. Concentration Account	  	5800 912 957	  	TP Capital Corp.
	7. Collection	  	5800 916 917	  	Port Neches Fuels, LLC
	 	 	 
	 	  	 	  	 
	 Wells Fargo
Bank
 P.O. Box 63020
 San
Francisco, CA 94163
	  	 	  	 
	1. Deposit Account	  	412 1391 601	  	TPC Group LLC
	 	 	 
	 	  	 	  	 
	 Wells Fargo
Bank
 P.O. Box 8266
 Boston, MA
02266
	  	 	  	 
	1. Investment Account	  	477 24667 18651	  	TPC Group LLC
	 	 	 
	 	  	 	  	 
	 Allied Irish
Bank
 405 Park Avenue
 New York, NY
10022
	  	 	  	 
	1. Deposit Account	  	1000 066	  	TPC Group LLC
	 	 	 
	 	  	 	  	 







 Schedule 7.8 

Insurance 

TPC GROUP 
 Executive
Summary of 
 Insurance 

For 2009-2010 
 PROPERTY
SUMMARY 
  

							
	 Property & Business Interruption
	  	 Policy Numbers
	  	 Program Limits
	  	 Deductible

	 	  	(Various U.S. and European Companies)	  	 
	Lockton - Manuscript	  	LME4613	  	$400,000,000	  	$250,000 - Property Damage
	Participants:	  		  		  	  except:
	Underwriting Risk Services, Ltd.	  	B0702JA010150Y	  	Sublimits:	  	$2,500,000 - Locations in
	Torus Insurance UK Ltd.	  	B0702JA010150Y	  	$150,000,000 Earth Movement	  	  Houston and Port Neches, TX
	Lloyd’s Syn. No. 1084	  	B0702JA010150Y	  	 $150,000,000 Flood - but not

  to exceed $10,000,000 for
   property not
scheduled
	  	
	Lloyd’s Syn. No. 1274	  	B0702JA010150Y	  	  	
	Lloyd’s Syn. No. 2987	  	B0702JA010150Y	  	  	
	Lloyd’s Syn. No. 609	  	B0702JA010150Y	  	$400,000,000 - Wind & Flood but not	  	
	Lloyd’s Syn. No. 958	  	B0702JA010150Y	  	  to exceed $150,000,000 for Flood as	  	
	FM Global	  	LG6S3	  	  part of and not in addition to Flood	  	
	Lloyd’s Syn. No. 2003	  	B0702JA010151Y	  	  Limits of Liab of this Policy.	  	
	ACE American	  	EPRN0507017A	  		  	
	Lexington Ins. Co.	  	19946022	  	Time Limits:	  	
	Partners Re	  	B0702JA010260Y	  	90 Day Period but not to exceed	  	
	Infrassure Ltd.	  	B0702JA010121Y	  	  $50,000,000 - Automatic Coverage	  	
	 Munich Re
 National Union Fire Co.
	  	 BO702JA010120Y
 2638223
	  	 90 Day Period -Extended Period of

  Liability
	  	








							
	of Pittsburgh	  		  	90 Day Period - Ordinary Payroll	  	
		  		  	30 Day Period but not to exceed	  	
		  		  	$10,000,000 - Ingress / Egress	  	
		  		  	180 Day Period but not to exceed	  	
		  		  	the lesser of a $5,000,000 limit or	  	
		  		  	200% of Normal Cost - Logistics	  	
		  		  	Extra Cost	  	
				
	Lexington Insurance Co.	  	2638224	  	Based on Values: $1,337,860,563	  	$2,500,000 Property Damage
		  		  	Limits: $50,000,000	  	30 Days Business Interruption







 TPC GROUP 

Executive Summary of Insurance 
 For
2009-2010 
 LIABILITY SUMMARY 
  

									
	  

Coverage

 
	  	Policy Data	  	Limits	  		  	Remarks
					
	 General Liability
  
	  	Not Carried	  	None	  	 	  	Self-Insured
					
	Umbrella Excess Liability	  	Lexington Ins. Co.	  	$25,000,000	  		  	Excess of primary limits
		  	Thru Southern Risk Specialists (AIG)	  	$25,000,000	  		  	Annual Aggregate / Products / Comp. Oper.
		  	Policy No. 005629932	  	$25,000,000	  		  	Annual Aggregate
		  	08-01-09 - 08-01-10	  	$2,000,000	  		  	Self-Insured Retention CGL
	 	  	 	  	$1,000,000  
	  	 	  	Self-Insured Retentino - All Other
					
	Follow Form Excess Liability	  	Lexington Ins. C. (London)	  	$50,000,000	  		  	Each occurrence
		  	Thru R.K. Harrison	  	$50,000,000	  		  	Annual Aggregate
		  	Policy No. 2213972	  		  		  	As Applicable
	 	  	 08-01-09 - 08-01-10
  
	  	 	  	 	  	Excess of $25,000,000
					
	Follow Form Excess Liability	  	AWAC (Bermuda)	  	$25,000,000	  		  	Each occurrence
		  	Thru R.K. Harrison	  	$25,000,000	  		  	Annual Aggregate
		  	Policy No. C008006/003	  		  		  	As Applicable








									
	 	  	 08-01-09 - 08-01-10
  
	  	 	  	 	  	Excess of $75,000,000
					
	Commercial Automobile Liability - Domestic	  	Zurich American Ins. Co.	  	$1,000,000	  		  	Each Occurrence Combined
	(Includes All Owned, Non-Owned and	  	Policy No. BAP 6549092-00	  		  		  	Single Limit BI & PD
	Hired Vehicles)	  	08-01-09 - 08-01-10	  	$1,000,000	  		  	Uninsured/Underinsured Motorist Coverage
		  		  	$2,500	  		  	Personal Injury Protection Coverage
		  		  	$1,000	  		  	Collision Deductible - vehicles 2001 & newer
	 	  	 	  	$1,000	  	 	  	 Comprehensive Deductible - vehicles 2001 & newer

 

					
	Worker’s Compensation & Employers Liability	  	Zurich American Ins. Co.	  	$1,000,000	  		  	Employers’ Lia - BI by Accident ea. accident
		  	Policy No. WC 6549093-00	  	$1,000,000	  		  	Employers’ Lia - BI by Disease - policy limit
		  	08-01-09 - 08-01-10	  	$1,000,000	  		  	Employers’ Lia. - BI by Disease - ea. Employee
	 	  	 	  	$1,000,000	  	 	  	 Each accident
  

					
	Marine Terminal Operators Legal Liability	  	ACE Commercial Marine	  	$1,000,000	  		  	Any One Accident or Occur. CSL
		  	Policy No. N04927886	  	$1,000,000	  		  	Any One Accident or Occur. - Pollution
		  	08-01-09 - 08-01-10	  	$25,000	  		  	Deductible Per Accident
	 	  	 	  	$100,000	  	 	  	 Deductible Per Accident as respects   Pollution Claims

 

	Underground Storage Tank Liability	  	(Commerce & Industry Ins. Co.) (AIG)	  	$1,000,000	  		  	Each Occurrence
		  	Policy No. 001926834	  	$1,000,000	  		  	Aggregate
	 	  	08-01-09 - 08-01-10	  	$25,000	  	 	  	 Deductible
  

					
	Pollution and Remediation Legal Liability	  	 Indian Harbor Ins. Co.
 Thru XL
Insurance
	  	$25,000,000	  		  	 Each loss, Remediation Expense or

  Legal Defense Expense









									
		  	Policy No. PEC001015603	  	$25,000,000	  		  	Total for all Loss, Remediation Expense
		  	08-01-08 - 08-01-10	  	$1,000,000	  		  	Self- Insured Retention - Each Loss
		  		  	$10,000,000	  		  	Remediation Expense or Legal Defense -
		  		  		  		  	  Non-Owned Disposal Sites
	 	  	 	  	$10,000,000  
	  	 	  	  Pipelines
					
	Ocean Marine Open Cargo Policy	  	Ascot Underwriting, Inc. and	  	$20,000,000	  		  	Any one vessel, connecting
		  	Underwriters at Lloyd’s	  	            Annual Deposit Premium
		  	Thru Southern Marine & Aviation	  	$2,500,000	  		  	Goods in storage at 8600 Park Place Blvd., Houston, TX
		  	Joint Policy No. SM4-1398	  	$500,000	  		  	Goods in storage at 4606 Baker Road, Baytown, TX
		  		  	$250,000	  		  	Goods in storage at 3524 Cities Service Terminal, Westlake, LA
		  		  	$250,000	  		  	Goods in storage at any one unnamed location
		  		  	NIL	  		  	While Carried on Deck and Subject to an on deck bill of
		  		  		  		  	lading on any one vessel (part of overall limit per vessel)
		  		  	NIL	  		  	Any one aircraft or connecting conveyance
		  		  	NIL	  		  	In respect of any one package shipped by mail
		  		  	NIL	  		  	By any one land conveyance
					
		  		  		  		  	Deductible Average:
		  		  		  		  	8600 Park Place Blvd. - $25,000
		  		  		  		  	 All other locations - $10,000
  








 Schedule 8.1(c) 

Existing Liens 

None 






 Schedule 8.2(i) 

Undisclosed Liabilities; Indebtedness to Remain Outstanding 

None 






 Schedule 8.7 

Existing Investments 
  

	1.	100% equity interest in TP Capital Corp., a Delaware corporation. 

  

	2.	100% equity interest in Texas Butylene Chemical Corporation, a Texas corporation. 


 

	3.	100% equity interest in Texas Olefins Domestic-International Sales Corporation, a Texas corporation. 


 

	4.	100% LLC interest in Port Neches Fuels, LLC, a Delaware limited liability company. 


 

	5.	50% limited partnership interest in Hollywood/Texas Olefins, Ltd., a Texas limited partnership. 


 

	6.	16.01% interest in Joint Wastewater Treatment Plant. 







 Schedule 12.3(a) 

Notice Addresses 

Borrowers and all Subsidiary Guarantors: 

TPC Group LLC 
 5151 San Felipe, Suite
800 
 Houston, TX 77056 
 Attention:
Chief Financial Officer 
 Tel. No.: (713) 627-7474 

Telecopier No.: (713) 475-5203 
 With a
copy to: 
 5151 San Felipe, Suite 800 

Houston, TX 77056 
 Attn: Christopher A. Artzer

 Tel. No.: (713) 475-5201 

Telecopier No.: (713) 475-5256 

Administrative Agent: 
 Deutsche Bank
Trust Company Americas 
 60 Wall Street 

New York, New York 10005 
 Attention: Omayra
Laucella 
 Tel. No.: (212) 250-6106 

Telecopier No.: (646) 863-9256 
 With a
copy to: 
 60 Wall Street 
 New York,
New York 10005 
 Attention: Frank Fazio 

Tel. No.: (212) 250-2267 
 Telecopier No.:
(212) 797-4655