EX-4.19





 Exhibit 4.19 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS EXHIBIT, MARKED BY [***], HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH
(I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED. 
 DATED 18 February
2022 
 GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS (NO.2) LIMITED 

as the Borrower 
 BANK OF
AMERICA EUROPE DESIGNATED ACTIVITY COMPANY 
 BANCO SANTANDER, S.A., LONDON BRANCH 

BARCLAYS BANK PLC 
 BNP
PARIBAS 
 CITIBANK, N.A., LONDON BRANCH 

DEUTSCHE BANK AG, LONDON BRANCH 

GOLDMAN SACHS BANK USA 

HSBC BANK PLC 
 J.P.
MORGAN SECURITIES PLC 
 MIZUHO BANK, LTD. 

MORGAN STANLEY BANK INTERNATIONAL LIMITED 

STANDARD CHARTERED BANK (HONG KONG) LIMITED 

as the Arrangers 
 BANK OF
AMERICA EUROPE DESIGNATED ACTIVITY COMPANY 
 as the Coordinator 

THE FINANCIAL INSTITUTIONS 

listed in Schedule 1 as the Original Lenders 

HSBC BANK PLC 
 as the Agent

  
  

£1,500,000,000 

FACILITY AGREEMENT 
  

 
 Slaughter and
May 
 One Bunhill Row 

London 
 EC1Y 8YY 

(GO/CVAC/TGXN/PXUD) 












 CONTENTS 
  

							
	Clause	 	 	  	Page	 
	 1.
	 	DEFINITIONS AND INTERPRETATION	  	 	2	 
			
	 2.
	 	THE FACILITY	  	 	19	 
			
	 3.
	 	PURPOSE	  	 	21	 
			
	 4.
	 	CONDITIONS OF UTILISATION	  	 	21	 
			
	 5.
	 	UTILISATION	  	 	23	 
			
	 6.
	 	REPAYMENT	  	 	24	 
			
	 7.
	 	ILLEGALITY, VOLUNTARY PREPAYMENT AND CANCELLATION	  	 	24	 
			
	 8.
	 	MANDATORY PREPAYMENT AND CANCELLATION	  	 	26	 
			
	 9.
	 	RESTRICTIONS	  	 	27	 
			
	 10.
	 	INTEREST	  	 	28	 
			
	 11.
	 	INTEREST PERIODS	  	 	29	 
			
	 12.
	 	CHANGES TO THE CALCULATION OF INTEREST	  	 	30	 
			
	 13.
	 	FEES; COSTS AND EXPENSES	  	 	31	 
			
	 14.
	 	TAX GROSS-UP AND INDEMNITIES	  	 	33	 
			
	 15.
	 	INCREASED COSTS	  	 	40	 
			
	 16.
	 	OTHER INDEMNITIES	  	 	41	 
			
	 17.
	 	MITIGATION BY THE FINANCE PARTIES	  	 	43	 
			
	 18.
	 	GUARANTEE	  	 	44	 
			
	 19.
	 	REPRESENTATIONS	  	 	47	 
			
	 20.
	 	FINANCIAL INFORMATION	  	 	49	 
			
	 21.
	 	INFORMATION UNDERTAKINGS	  	 	50	 
			
	 22.
	 	UNDERTAKINGS	  	 	51	 
			
	 23.
	 	EVENTS OF DEFAULT	  	 	53	 
			
	 24.
	 	CHANGES TO THE LENDERS	  	 	55	 
			
	 25.
	 	CHANGES TO THE OBLIGORS	  	 	59	 
			
	 26.
	 	ROLE OF THE AGENT, THE ARRANGER AND THE COORDINATOR	  	 	62	 
			
	 27.
	 	CONDUCT OF BUSINESS BY THE FINANCE PARTIES	  	 	70	 














							
	 28.
	 	SHARING AMONG THE FINANCE PARTIES	  	 	70	 
			
	 29.
	 	PAYMENT MECHANICS	  	 	72	 
			
	 30.
	 	SET-OFF	  	 	76	 
			
	 31.
	 	NOTICES	  	 	76	 
			
	 32.
	 	CALCULATIONS AND CERTIFICATES	  	 	78	 
			
	 33.
	 	PARTIAL INVALIDITY	  	 	79	 
			
	 34.
	 	REMEDIES AND WAIVERS	  	 	79	 
			
	 35.
	 	AMENDMENTS AND WAIVERS	  	 	79	 
			
	 36.
	 	CONFIDENTIALITY	  	 	84	 
			
	 37.
	 	CONFIDENTIALITY OF FUNDING RATES	  	 	87	 
			
	 38.
	 	BAIL-IN	  	 	88	 
			
	 39.
	 	COUNTERPARTS	  	 	90	 
			
	 40.
	 	CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999	  	 	90	 
			
	 41.
	 	GOVERNING LAW	  	 	91	 
			
	 42.
	 	ENFORCEMENT AND JURISDICTION	  	 	91	 
		
	 SCHEDULE 1 ORIGINAL LENDERS
	  	 	93	 
		
	 SCHEDULE 2 CONDITIONS PRECEDENT
	  	 	95	 
		
	 SCHEDULE 3 REQUESTS
	  	 	99	 
		
	 SCHEDULE 4 TIMETABLES
	  	 	101	 
		
	 SCHEDULE 5 FORM OF INCREASE CONFIRMATION
	  	 	102	 
		
	 SCHEDULE 6 FORM OF ASSIGNMENT AGREEMENT
	  	 	105	 
		
	 SCHEDULE 7 FORM OF TRANSFER CERTIFICATE
	  	 	108	 
		
	 SCHEDULE 8 FORM OF ACCESSION AGREEMENT
	  	 	111	 
		
	 SCHEDULE 9 REFERENCE RATE TERMS
	  	 	112	 
		
	 SCHEDULE 10 DAILY NON-CUMULATIVE COMPOUNDED RFR RATE
	  	 	115	 


  
 2 













 THIS AGREEMENT is dated 18 February 2022 and made between: 

 

	(1)	 GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS (NO.2) LIMITED as the borrower (the
“Original Borrower”); 


  

	(2)	 BANK OF AMERICA EUROPE DESIGNATED ACTIVITY COMPANY, BANCO SANTANDER, S.A., LONDON BRANCH, BARCLAYS BANK
PLC, BNP PARIBAS, CITIBANK, N.A., LONDON BRANCH, DEUTSCHE BANK AG, LONDON BRANCH, GOLDMAN SACHS BANK USA, HSBC BANK PLC, J.P. MORGAN SECURITIES PLC, MIZUHO BANK, LTD., MORGAN STANLEY BANK INTERNATIONAL LIMITED and STANDARD CHARTERED BANK (HONG KONG)
LIMITED as the mandated lead arrangers and bookrunners (the “Arrangers”); 


  

	(3)	 BANK OF AMERICA EUROPE DESIGNATED ACTIVITY COMPANY as the coordinator (the
“Coordinator”); 


  

	(4)	 THE FINANCIAL INSTITUTIONS listed in Schedule 1 as lenders (the “Original Lenders”);
and 


  

	(5)	 HSBC BANK PLC as agent of the other Finance Parties (the “Agent”).



 IT IS AGREED as follows: 












 SECTION 1 

INTERPRETATION 
  

	1.	 DEFINITIONS AND INTERPRETATION 



 

	1.1	 Definitions 



In this Agreement: 

“Acceptable Bank” means a bank or financial institution which has a rating for its long-term unsecured and non-credit-enhanced debt obligations of BBB or higher by Standard & Poor’s Rating Services or Baa2 or higher by Moody’s Investor Services Limited, provided that in the event such bank or financial
institution has a rating from both such credit rating agencies, the lower of such ratings shall be used. 

“Accession Agreement” means a document substantially in the form set out in Schedule 8 (Form of Accession
Agreement). 
 “Additional Borrower” means a Group Company which becomes a Borrower in accordance with
Clause 25 (Changes to the Obligors). 
 “Additional Business Day” means any day specified as such in
the Reference Rate Terms. 
 “Additional Guarantor” means a Group Company which becomes a Guarantor in
accordance with Clause 25 (Changes to the Obligors). 
 “Additional Obligor” means an Additional
Borrower or an Additional Guarantor. 
 “Affiliate” means, in relation to any person, a Subsidiary of that
person or a Holding Company of that person or any other Subsidiary of that Holding Company. 

“Announcement” has the meaning given to such term in Clause 8.2(b) (Automatic Cancellation). 

“Anti-Corruption Laws” means all laws, rules, and regulations from time-to-time concerning or relating to bribery or corruption, including but not limited to the U.S. Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder, the UK Bribery
Act 2010 and all other applicable anti-bribery and corruption laws. 
 “Assignment Agreement” means an
agreement substantially in the form set out in Schedule 6 (Form of Assignment Agreement). 

“Authorisation” means an authorisation, consent, approval, resolution, licence, exemption, filing,
notarisation or registration. 
 “Availability Period” means the period from and including the date of this
Agreement to and including the earlier of: 
  

	 	(a)	 the Demerger Dividend Date; and 



 

	 	(b)	 the Longstop Date. 



“Available Commitment” means a Lender’s Commitment minus: 

 

	 	(a)	 the amount of its participation in any outstanding Loans under the Facility; and 



 

	 	(b)	 in relation to any proposed Utilisation, the amount of its participation in any Loans that are due to be
made on or before the proposed Utilisation Date. 



  
 2 













 “Available Facility” means the aggregate for the time being
of each Lender’s Available Commitment. 
 “Basel II Framework” means “Basel II” as set out in
the “International Convergence of Capital Measurement and Capital Standards, a Revised Framework” published by the Basel Committee on Banking Supervision in June 2004 or any other law or regulation which implements “Basel II”
(whether such implementation, application or compliance is by a government, regulator, a Lender or any of its affiliates). 

“Basel III Framework” means “Basel III” as set out in “Basel III: A global regulatory framework
for more resilient banks and banking systems”, “Basel III: International framework for liquidity risk measurement, standards and monitoring” and “Guidance for national authorities operating the countercyclical capital
buffer” published by the Basel Committee on banking Supervision on 16 December 2012 each as amended, supplemented or restated. 

“Blocking Law” means: 
  

	 	(a)	 any provision of Council Regulation (EC) No 2271/1996 of 22 November 1996 (or any law or regulation
implementing such Regulation in any member state of the European Union or the United Kingdom (including any similar and applicable UK law, instrument or regulation created following the United Kingdom’s exit from the European Union)); or



  

	 	(b)	 Section 7 of the German Foreign Trade Regulation
(Außenwirtschaftsverordnung). 


 “Borrower” means the Original
Borrower or an Additional Borrower. 
 “Business Day” means a day (other than a Saturday or Sunday) on which
banks are open for general business in London and: 
  

	 	(a)	 (in relation to any date for payment or purchase of a currency other than sterling) the principal financial
centre of the country of that currency; and 


  

	 	(b)	 in relation to: 


  

	 	(i)	 any date for payment or purchase of an amount relating to a Loan or Unpaid Sum; or 



 

	 	(ii)	 the determination of the first day or the last day of an Interest Period for a Loan, or otherwise in
relation to the determination of the length of such an Interest Period or Unpaid Sum, 


 which is an
Additional Business Day relating to that Loan or Unpaid Sum. 
 “Central Bank Rate” has the meaning given to
that term in the Reference Rate Terms. 
 “Central Bank Rate Adjustment” has the meaning given to that term
in the Reference Rate Terms. 
 “Central Bank Rate Spread” has the meaning given to that term in the
Reference Rate Terms. 
 “Change of Control” means, other than as a result of or in connection with the
Demerger or the Demerger Dividend: 
  

	 	(a)	 at any time prior to the Demerger Date, a Borrower ceases to be a direct or indirect Subsidiary of GSK;



  

	 	(b)	 on or following the Demerger Date, a Borrower ceases to be a direct or indirect Subsidiary of the CH Topco;
or 



  
 3 














	 	(c)	 on or following the Demerger Date, any person or group of persons acting in concert gains control of the CH
Topco, where: 


  

	 	(i)	 “acting in concert” means a group of persons who, pursuant to an agreement or understanding
(whether formal or informal), actively co-operate, through the acquisition, directly or indirectly, of voting shares in the CH Topco, to obtain or consolidate control of the CH Topco; and



  

	 	(ii)	 “control” means: 



 

	 	(A)	 the power to: 


  

	 	(1)	 cast more than 50% of the maximum number of votes which may be cast at a general meeting of the CH Topco;



  

	 	(2)	 appoint or remove all or the majority of the directors or equivalent officers of the CH Topco; or



  

	 	(3)	 give directions with respect to the operating and financial policies of the CH Topco with which the
directors or other equivalent officers of the CH Topco are obliged to comply; or 


  

	 	(B)	 the holding of more than 50% of the issued share capital of the CH Topco (excluding any part of that issued
share capital that carries no right to participate beyond a specified amount in a distribution of either profits or capital). 



“CH Topco” means, on and following the Demerger Date, the holding company of what is, as at the date of this
Agreement, the Original Group’s consumer healthcare business which is incorporated in England and Wales and will be listed on a recognised investment exchange in the United Kingdom, as set out in the Pro Forma Group Structure Chart. 

“CH Topco Accession Date” means the date on which the CH Topco becomes an Additional Guarantor in accordance
with Clause 22.9 (Condition Subsequent). 
 “CoC Waiver Notice” has the meaning given to that term in
Clause 8.1 (Change of control). 
 “Code” means the United States Internal Revenue Code of 1986, as
amended. 
 “Commitment” means: 
  

	 	(a)	 for each Original Lender, the amount set opposite its name under the heading “Commitment” in
Schedule 1 (Original Lenders), and the amount of any other commitment transferred to it, or which it assumes or acquires, including by way of increase under Clause 2.2 (Increase); and 



 

	 	(b)	 for any other Lender, the amount of any Commitment transferred to it, or which it assumes or acquires,
including by way of increase under Clause 2.2 (Increase) or Clause 24 (Changes to the Lenders), 



to the extent not cancelled, reduced or transferred by it under this Agreement. 

“Commitment Fee” has the meaning given to that term in Clause 13.1 (Commitment fee). 

“Compounded Reference Rate” means, in relation to any RFR Banking Day during the Interest Period of a Loan,
the percentage rate per annum which is the aggregate of: 
  

	 	(a)	 the Daily Non-Cumulative Compounded RFR Rate for that RFR Banking
Day; and 



  
 4 














	 	(b)	 the applicable Credit Adjustment Spread. 



“Compounding Methodology Supplement” means, in relation to the Daily
Non-Cumulative Compounded RFR Rate a document which: 
  

	 	(a)	 is agreed in writing by the Designated Borrower, the Agent (in its own capacity) and the Agent (acting on
the instructions of the Majority Lenders); 


  

	 	(b)	 specifies a calculation methodology for that rate; and 



 

	 	(c)	 has been made available to the Designated Borrower and each Finance Party. 



“Confidential Information” means all information relating to any Obligor, prior to the Demerger Date, the
Original Group and, on and following the Demerger Date, the Group, the Borrowers, the CH Topco and, in each case, any of their Affiliates, the Demerger, the Demerger Documents, this Agreement or any other Finance Document or the Facility of which a
Finance Party becomes aware in its capacity as, or for the purpose of becoming, a Finance Party or which is received by a Finance Party in relation to, or for the purpose of becoming a Finance Party under, the Finance Documents or the Facility,
from: 
  

	 	(a)	 any member of, prior to the Demerger Date, the Original Group and, on and following the Demerger Date, the
Group or, in each case, any of its Affiliates or advisers; or 


  

	 	(b)	 another Finance Party, if the information was obtained by that Finance Party directly or indirectly from any
member of, prior to the Demerger Date, the Original Group and, on and following the Demerger Date, the Group or, in each case, any of its advisers, 



in whatever form, and includes information given orally and any document, electronic file or any other way of representing or
recording information which contains or is derived or copied from such information but excludes: 
  

	 	(i)	 information that: 



 

	 	(1)	 is or becomes public information other than as a direct or indirect result of any breach by that Finance
Party of Clause 36 (Confidentiality); or 


  

	 	(2)	 is identified in writing at the time of delivery as non-confidential
by any member of, prior to the Demerger Date, the Original Group and, on and following the Demerger Date, the Group or, in each case, any of its advisers; or 


  


	 	(3)	 is known (and has been lawfully obtained) by that Finance Party before the date the information is disclosed
to it in accordance with paragraph (a) or (b) above or is lawfully obtained by that Finance Party after that date, from a source which is, as far as that Finance Party is aware, unconnected with, prior to the Demerger Date, the Original Group
and, on and following the Demerger Date, the Group and which, in either case, as far as that Finance Party is aware, has not been obtained in breach of, and is not otherwise subject to, any obligation of confidentiality; and 



 

	 	(ii)	 any Funding Rate. 



“Consolidated Financial Statements” means the most recently published audited consolidated financial
statements of, prior to the Demerger Date, the Original Group and, on and following the Demerger Date, the Group for the relevant financial year ended 31 December. 

“Credit Adjustment Spread” means any rate which is either: 

 

	 	(a)	 specified as such in the Reference Rate Terms; or 



  
 5 














	 	(b)	 determined by the Agent (or by any other Finance Party which agrees to determine that rate in place of the
Agent) in accordance with the methodology specified in the Reference Rate Terms. 


 “CTA”
means the Corporation Tax Act 2009. 
 “Daily Non-Cumulative Compounded RFR
Rate” means, in relation to any RFR Banking Day during an Interest Period for a Loan, the percentage rate per annum determined by the Agent (or by any other Finance Party which agrees to determine that rate in place of the Agent) in
accordance with the methodology set out in Schedule 10 (Daily Non-Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement. 

“Daily Rate” means the rate specified as such in the Reference Rate Terms. 

“Default” means an Event of Default or any event or circumstance specified in Clause 23 (Events of
Default) which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an Event of Default. 

“Defaulting Lender” means any Lender: 

 

	 	(a)	 which has failed to make its participation in a Loan available or has notified the Agent or the Designated
Borrower (which has notified the Agent) or has indicated publicly that it will not make its participation in a Loan available by the Utilisation Date of that Loan in accordance with Clause 5.4 (Lenders’ participation);



  

	 	(b)	 which has otherwise rescinded or repudiated a Finance Document; or 



 

	 	(c)	 with respect to which an Insolvency Event has occurred and is continuing, 



unless, in the case of paragraph (a) above: 
  

	 	(i)	 its failure to pay is caused by: 



 

	 	(A)	 administrative or technical error; or 



 

	 	(B)	 a Disruption Event; and, 



payment is made within three Business Days of its due date; or 

 

	 	(ii)	 the Lender is disputing in good faith whether it is contractually obliged to make the payment in question.



 “Demerger” means GSK ceasing to hold a direct or indirect interest in the share capital
of the Original Borrower, other than as a result of any interest it may hold in the share capital of the CH Topco, in connection with the listing or admission to trading of all or part of the share capital of any person or entity which holds or
forms part of the GlaxoSmithKline group’s consumer healthcare business on any recognised investment exchange or any substantially equivalent transaction. 

“Demerger Agreement” means the agreement and plan of demerger to be entered into by GSK and the CH Topco in
connection with the Demerger. 
 “Demerger Date” means the date on which the Demerger completes, as notified
by the Original Borrower to the Agent. 
 “Demerger Dividend” means the cash distribution to be declared and
paid by the Original Borrower to its immediate shareholders prior to the Demerger in the manner envisaged in the Demerger Agreement. 

  
 6 













 “Demerger Dividend Date” means the date of the payment of
the Demerger Dividend, as notified by the Original Borrower to the Agent. 
 “Demerger Documents” means the
Demerger Agreement and any other document designated as a Demerger Document by the Designated Borrower and notified to the Agent. 

“Designated Borrower” means the Original Borrower or such other Borrower as the Original Borrower notifies to
the Agent from time-to-time. 

“Disruption Event” means either or both of: 

 

	 	(a)	 a material disruption to those payment or communications systems or to those financial markets which are, in
each case, required to operate in order for payments to be made in connection with the Facility (or otherwise in order for the transactions contemplated by the Finance Documents to be carried out) which disruption is not caused by, and is beyond the
control of, any of the Parties; or 


  

	 	(b)	 the occurrence of any other event which results in a disruption (of a technical or systems-related nature)
to the treasury or payments operations of a Party preventing that, or any other Party: 


  

	 	(i)	 from performing its payment obligations under the Finance Documents; or 



 

	 	(ii)	 from communicating with other Parties in accordance with the terms of the Finance Documents,



 and which (in either such case) is not caused by, and is beyond the control of, the Party whose
operations are disrupted. 
 “Eligible Institution” means any Lender or other bank, financial institution,
trust, fund or other entity selected by the Designated Borrower and which, in each case, is not a Group Company. 

“Event of Default” means any event or circumstance specified as such in Clause 23 (Events of Default).

 “Facility” means the sterling term loan facility made available under this Agreement as described in
Clause 2.1 (The Facility). 
 “Facility Office” means the office or offices notified by a Lender to
the Agent in writing on or before the date it becomes a Lender (or, following that date, by not less than five Business Days’ written notice) as the office or offices through which it will perform its obligations under this Agreement. 

“FATCA” means: 
  

	 	(a)	 sections 1471 to 1474 of the Code or any associated regulations; 



 

	 	(b)	 any treaty, law or regulation of any other jurisdiction, or relating to an intergovernmental agreement
between the US and any other jurisdiction, which (in either case) facilitates the implementation of any law or regulation referred to in paragraph (a) above; or 



 

	 	(c)	 any agreement pursuant to the implementation of any treaty, law or regulation referred to in paragraphs
(a) or (b) above with the US Internal Revenue Service, the US government or any governmental or taxation authority in any other jurisdiction. 



  
 7 













 “FATCA Application Date” means: 

 

	 	(a)	 in relation to a “withholdable payment” described in Section 1473(1)(A)(i) of the Code (which
relates to payments of interest and certain other payments from sources within the US), 1 July 2014; or 


  

	 	(b)	 in relation to a “passthru payment” described in Section 1471(d)(7) of the Code not falling
within paragraph (a) above, the first date from which such payment may become subject to a deduction or withholding required by FATCA. 



“FATCA Deduction” means a deduction or withholding from a payment under a Finance Document required by FATCA.

 “FATCA Exempt Party” means a Party that is entitled to receive payments free from any FATCA Deduction.

 “Fee Letter” means any letter or letters dated on or prior to the date of this Agreement between the
Agent and the Original Borrower (or the Coordinator and the Original Borrower) setting out any of the fees referred to in Clause 13 (Fees; Costs and Expenses). 

“Finance Document” means this Agreement, any Fee Letter, any Accession Agreement, any Reference Rate
Supplement, any Compounding Methodology Supplement and any other document designated as such by the Agent and the Designated Borrower. 

“Finance Party” means the Agent, an Arranger, the Coordinator or a Lender. 

“Funding Rate” means any individual rate notified by a Lender to the Agent pursuant to paragraph (a)(ii) of
Clause 12.2 (Cost of funds). 
 “GAAP” means generally accepted accounting principles in the United
Kingdom, including IFRS. 
 “Group” means: 

 

	 	(a)	 prior to the Demerger Date, the Original Borrower and its Subsidiaries from
time-to-time; and 


  

	 	(b)	 on and following the Demerger Date, the CH Topco and its Subsidiaries from time-to-time, 


 (and, in each case, each such entity being a
“Group Company”). 
 “GSK” means GlaxoSmithKline PLC. 

“Guarantor” means: 
  

	 	(a)	 from the CH Topco Accession Date, the CH Topco; or 



 

	 	(b)	 any other Additional Guarantor. 



“Holding Company” means, in relation to a person, any other person in respect of which it is a Subsidiary.

 “IFRS” means: 
  

	 	(a)	 in relation to any financial statements prepared for a period beginning before 1 January 2021,
international accounting standards within the meaning of the IAS Regulation 1606/2002 to the extent applicable to the relevant financial statements; and 



  
 8 














	 	(b)	 in relation to any financial statements prepared for a period beginning on or after 1 January 2021, UK
adopted international accounting standards within the meaning of Section 474(1) of the Companies Act 2006 to the extent applicable to the relevant financial statements. 



“Impaired Agent” means the Agent at any time when: 

 

	 	(a)	 it has failed to make (or has notified a Party that it will not make) a payment required to be made by it
under the Finance Documents by the due date for payment; 


  

	 	(b)	 the Agent otherwise rescinds or repudiates a Finance Document; 



 

	 	(c)	 (if the Agent is also a Lender) it is a Defaulting Lender under paragraph (a) or (b) of the definition
of “Defaulting Lender”; 


  

	 	(d)	 an Insolvency Event has occurred and is continuing with respect to the Agent; or 



 

	 	(e)	 the Agent is not a FATCA Exempt Party, 



unless, in the case of paragraph (a) above: 
  

	 	(i)	 its failure to pay is caused by: 



 

	 	(A)	 administrative or technical error; or 



 

	 	(B)	 a Disruption Event; and 



payment is made within three Business Days of its due date; or 

 

	 	(ii)	 the Agent is disputing in good faith whether it is contractually obliged to make the payment in question.



 “Increase Confirmation” means a confirmation substantially in the form set out in
Schedule 5 (Form of Increase Confirmation). 
 “Increase Date” has the meaning given to such term in
the relevant Increase Confirmation. 
 “Increase Lender” has the meaning given to such term in Clause 2.2
(Increase). 
 “Indebtedness for borrowed money” shall mean any indebtedness of any person for or in
respect of: 
  

	 	(a)	 monies borrowed and debit balances at banks; 



 

	 	(b)	 amounts raised by acceptance under any acceptance credit; 



 

	 	(c)	 amounts raised under any notes, debentures, bonds, loan notes or other security; 



 

	 	(d)	 the amount of any liability in respect of leases or hire purchase contracts which would, in accordance with
GAAP, be treated as finance leases; 


  

	 	(e)	 any currency swap or interest swap arrangement (for the purpose of any calculation of the amount of that
indebtedness, insofar as it constitutes the aggregate net debt position in relation thereto); and 


  

	 	(f)	 amounts raised under any other transaction having the commercial and economic effect of a borrowing and
which would be classified as a borrowing in accordance with GAAP. 



  
 9 













 “Indemnified Person” has the meaning given to such term in
Clause 16.4 (Demerger indemnity). 
 “Information Package” means: 

 

	 	(a)	 a corporate structure chart in respect of the Original Group; 



 

	 	(b)	 the Original Consolidated Financial Statements; and 



 

	 	(c)	 such other information as is agreed by the Original Lenders and the Designated Borrower in writing from time
to time. 


 “Insolvency Event” in relation to an entity means that the entity: 

 

	 	(a)	 is dissolved (other than pursuant to a consolidation, amalgamation or merger); 



 

	 	(b)	 becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay
its debts as they become due; 


  

	 	(c)	 makes a general assignment, arrangement or composition with or for the benefit of its creditors;



  

	 	(d)	 institutes or has instituted against it, by a regulator, supervisor or any similar official with primary
insolvency, rehabilitative or regulatory jurisdiction over it in the jurisdiction of its incorporation or organisation or the jurisdiction of its head or home office, a proceeding seeking a judgment of insolvency or bankruptcy or any other relief
under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented for its winding-up or liquidation by it or such regulator, supervisor or similar
official; 


  

	 	(e)	 has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief
under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented for its winding-up or liquidation, and, in the case of any such proceeding or petition
instituted or presented against it, such proceeding or petition is instituted or presented by a person or entity not described in paragraph (d) above and: 



 

	 	(i)	 results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an
order for its winding-up or liquidation; or 


  

	 	(ii)	 is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution or
presentation thereof; 


  

	 	(f)	 has a resolution passed for its winding-up, official management or
liquidation (other than pursuant to a consolidation, amalgamation or merger); 


  

	 	(g)	 seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator,
receiver, trustee, custodian or other similar official for it or for all or substantially all its assets (other than, for so long as it is required by law or regulation not to be publicly disclosed, any such appointment which is to be made, or is
made, by a person or entity described in paragraph (d) above); 


  

	 	(h)	 has a secured party take possession of all or substantially all its assets or has a distress, execution,
attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains possession, or any such process is not dismissed, discharged, stayed or restrained, in each
case within 30 days thereafter; 



  
 10 














	 	(i)	 causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction,
has an analogous effect to any of the events specified in paragraphs (a) to (h) above; or 


  

	 	(j)	 takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of
the foregoing acts. 


 “Interest Payment” means the aggregate amount of interest that:

  

	 	(a)	 is, or is scheduled to become, payable under any Finance Document; and 



 

	 	(b)	 relates to a Loan. 



“Interest Period” means, in relation to a Loan, each period determined in accordance with Clause 11
(Interest Periods) and, in relation to an Unpaid Sum, each period determined in accordance with Clause 10.4 (Default interest). 

“ITA” means the Income Tax Act 2007. 

“Legal Reservations” means the legal reservations in the legal opinions provided pursuant to Part I of
Schedule 2 (Conditions Precedent). 
 “Lender” means: 

 

	 	(a)	 any Original Lender; and 



 

	 	(b)	 any person which has become a Party as a “Lender” in accordance with Clause 2.2 (Increase)
or Clause 24 (Changes to the Lenders), 


 which, in each case, has not ceased to be a Party as such
in accordance with the terms of this Agreement. 
 “Loan” means a loan made or to be made under the Facility
or the principal amount outstanding for the time being of that loan 
 “Longstop Date” means the date that
is the first anniversary of the date of this Agreement. 
 “Lookback Period” means the number of days
specified as such in the Reference Rate Terms. 
 “Major Default” means any event or circumstance
constituting an Event of Default under any of: 
  

	 	(a)	 Clause 23.1 (Non-payment); 



 

	 	(b)	 Clause 23.2 (Misrepresentation) insofar as it relates to a breach of any Major Representation;



  

	 	(c)	 Clause 23.3 (Other obligations) insofar as it relates to a breach of any Major Undertaking;



  

	 	(d)	 Clause 23.5 (Insolvency); 



 

	 	(e)	 Clause 23.6 (Insolvency proceedings); 



 

	 	(f)	 Clause 23.7 (Creditors’ process); 



 

	 	(g)	 Clause 23.8 (Repudiation); and 



 

	 	(h)	 Clause 23.9 (Unlawfulness). 



  
 11 













 “Major Representations” means a representation under any
of: 
  

	 	(a)	 Clause 19.2 (Status); 



 

	 	(b)	 Clause 19.5 (Power and authority); 



 

	 	(c)	 Clause 19.7 (Binding obligations); and 



 

	 	(d)	 Clause 19.10 (No conflict). 



“Major Undertaking” means any of: 
  

	 	(a)	 Clause 22.2 (Authorisations); 



 

	 	(b)	 Clause 22.3 (Compliance with laws); 



 

	 	(c)	 Clause 22.4 (Negative pledge); and 



 

	 	(d)	 Clause 22.8 (Disposals). 



“Majority Lenders” means a Lender or Lenders whose Commitments aggregate more than 662/3% of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than 662/3% of the Total Commitments immediately prior to the reduction). 

“Margin” means, in respect of each Loan or for the purpose of Clause 13.1 (Commitment fee), the
percentage figure calculated in accordance with Clause 10.2 (Calculation of the Margin). 
 “Material
Subsidiary” means a Group Company whose total assets or total profits before interest payable and tax (“Gross Profits”) (attributable to, prior to the Demerger Date, GSK and, on and following the Demerger Date, the CH
Topco) represent 10 per cent. or more of the consolidated total assets or consolidated Gross Profits (as the case may be) of, prior to the Demerger Date, the Original Group and, on and following the Demerger Date, the Group as reflected in the
latest published audited consolidated financial statements of, prior to the Demerger Date, the Original Group and, on and following the Demerger Date, the Group. Total assets and total Gross Profits will, for this purpose, exclude assets and profits
eliminated in the consolidated financial statements referred to in the previous sentence of this definition. 

“Maturity Date” means the date which is 36 Months after the date of this Agreement, provided that if such day
is not a Business Day, the Maturity Date shall be the immediately preceding Business Day. 
 “Month” means:

  

	 	(a)	 in relation to an Interest Period (or any other period for the accrual of commission or fees), a period
starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month, subject to adjustment in accordance with the rules specified as Business Day Conventions in the Reference Rate Terms; and



  

	 	(b)	 otherwise means a period starting on one day in a calendar month and ending on the numerically corresponding
day in the next calendar month. 


 “Moody’s” means Moody’s Investors Services
Limited or any successor to its rating business. 
 “Obligor” means a Borrower or a Guarantor. 

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

  
 12 













 “Original Consolidated Financial Statements” means the most
recently published audited consolidated financial statements of the Original Group for the relevant financial year ended 31 December 2020. 

“Original Group” means GSK and its Subsidiaries from time to time (and each such entity being an
“Original Group Company”). 
 “Party” means a party to this Agreement. 

“Pro Forma Group Structure Chart” means the structure chart of the Group showing the Original Borrower
assuming the Demerger Date has occurred. 
 “Protected Party” has the meaning given to such term in Clause
14 (Tax Gross-Up and Indemnities). 
 “Qualifying Lender” has
the meaning given to such term in Clause 14 (Tax Gross-Up and Indemnities). 

“Rating” means the corporate rating of the CH Topco (including any preliminary rating which has been made
publicly available) assigned by S&P and/or Moody’s. 
 “Reference Rate Supplement” means a document
which: 
  

	 	(a)	 is agreed in writing by the Designated Borrower, the Agent (in its own capacity) and the Agent (acting on
the instructions of the Majority Lenders); 


  

	 	(b)	 specifies the relevant terms which are expressed in this Agreement to be determined by reference to
Reference Rate Terms; and 


  

	 	(c)	 has been made available to the Designated Borrower and each Finance Party. 



“Reference Rate Terms” means the terms set out in Schedule 9 (Reference Rate Terms) or in any Reference
Rate Supplement. 
 “Relevant Group Company” means: 

 

	 	(a)	 prior to the CH Topco Accession Date, the Original Borrower; and 



 

	 	(b)	 on and following the CH Topco Accession Date, the CH Topco. 



“Relevant Indebtedness” means any: (i) indebtedness for moneys borrowed or any debit balances at banks
with a maturity of 365 days or less; or (ii) any indebtedness which: 
  

	 	(a)	 is in the form of or represented by bonds, notes, loan stock, depositary receipts or other securities issued
otherwise than to constitute or represent advances made by banks and/or other lending institutions; 


  

	 	(b)	 is denominated, or confers any right to payment of principal, premium and/or interest, in or by reference to
any currency other than the currency of the country in which the issuer of the indebtedness has its principal place of business, or is denominated in or by reference to the currency of such country but is placed or offered for subscription or sale
by or on behalf of, or by agreement with, the issuer as to over 20 per cent. outside such country; and 


  

	 	(c)	 at its date of issue is, or is intended by the issuer to become, quoted, listed, traded or dealt in on any
stock exchange, over-the-counter market or other securities market; 



“Relevant Interbank Market” means the market specified as such in the Reference Rate Terms. 

  
 13 













 “Relevant Period” has the meaning given to such term in
Clause 13.1 (Commitment fee). 
 “Repeating Representations” means each of the representations set
out in Clause 19 (Representations) other than those in Clause 19.3 (Deduction of tax), Clause 19.6 (No filing or stamp taxes), Clause 19.11 (Anti-Bribery and corruption), Clause 19.12 (Sanctions) and Clause 19.14
(No misleading information). 
 “Reporting Day” means the day (if any) specified as such in the
Reference Rate Terms. 
 “Reporting Time” means the relevant time (if any) specified as such in the
Reference Rate Terms. 
 “Representative” means any delegate, agent, manager, administrator, nominee,
attorney, trustee or custodian. 
 “Restricted Party” means a person that is: 

 

	 	(a)	 listed on or directly owned or controlled by a person listed on a Sanctions List, or a person acting on
behalf or at the direction of such a person; 


  

	 	(b)	 located in or organised under the laws of a Sanctions Country, or is owned or controlled by, or acting on
behalf or at the direction of a person located in or organised under the laws of a Sanctions Country, to the extent that this would be prohibited by Sanctions or would otherwise cause any person to be in breach of Sanctions; or



  

	 	(c)	 otherwise a subject of Sanctions. 



“RFR” means the rate specified as such in the Reference Rate Terms. 

“RFR Banking Day” means any day specified as such in the Reference Rate Terms. 

“S&P” means Standard & Poor’s Rating Services, a division of the McGraw-Hill Companies Inc.

 “Sanctions” means any trade, economic or financial sanctions laws, regulations, embargoes or restrictive
measures, administered, enacted or enforced by a Sanctions Authority. 
 “Sanctions Authority” means: 

 

	 	(a)	 the United Nations; 



 

	 	(b)	 the US; 


  

	 	(c)	 the European Union; 



 

	 	(d)	 the United Kingdom; and 



 

	 	(e)	 the governments and official institutions or agencies of any of paragraphs (a) to (d) above, including
OFAC, the US Department of State, and Her Majesty’s Treasury. 


 “Sanctions Country”
means a country or territory that is subject to country-wide or territory-wide Sanctions, which countries or territories as at the date of this Agreement include, but are not limited to, Crimea, Cuba, Iran, North Korea and Syria. 

“Sanctions List” means the Specially Designated Nationals and Blocked Persons List, the Sectoral Sanctions
Identifications List and the List of Foreign Sanctions Evaders maintained by OFAC, the Consolidated List of Financial Sanctions Targets maintained by Her Majesty’s Treasury, or any similar list maintained by a Sanctions Authority, each as
amended, supplemented or substituted from time to time. 

  
 14 













 “Security” means a mortgage, charge, pledge, lien or other
security interest securing any obligation of any person or any other agreement or arrangement having a similar effect. 

“Selection Notice” means a notice substantially in the form set out in Part II of Schedule 3 (Requests)
given in accordance with Clause 11 (Interest Periods) in relation to a Loan. 
 “Specified Time”
means a day or time determined in accordance with Schedule 4 (Timetables). 
 “Subsidiary” means a
subsidiary within the meaning of Section 1159 of the Companies Act 2006. 
 “Tax” means any tax, levy,
impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same). 

“Tax Credit” has the meaning given to such term in Clause 14 (Tax
Gross-Up and Indemnities). 
 “Tax Deduction” has the meaning
given to such term in Clause 14 (Tax Gross-Up and Indemnities). 

“Tax Payment” has the meaning given to such term in Clause 14 (Tax
Gross-Up and Indemnities). 
 “Total Commitments” means the
aggregate of the Commitments, being £1,500,000,000 at the date of this Agreement. 
 “Transfer
Certificate” means a certificate substantially in the form set out in Schedule 7 (Form of Transfer Certificate) or any other form agreed between the Agent and the Designated Borrower. 

“Transfer Date” means, in relation to an assignment or a transfer, the later of: 

 

	 	(a)	 the proposed Transfer Date specified in the relevant Assignment Agreement or Transfer Certificate; and



  

	 	(b)	 the date on which the Agent executes the relevant Assignment Agreement or Transfer Certificate.



 “Treaty Lender” has the meaning given to such term in Clause 14 (Tax Gross-Up and Indemnities). 
 “Treaty State” and
“Treaty” each have the meanings given to such terms in Clause 14 (Tax Gross-Up and Indemnities). 

“UK Borrower” means a Borrower which is incorporated in the United Kingdom or operating in the United Kingdom
through a permanent establishment in the United Kingdom with which any payment under the Finance Documents is connected. 

“UK Borrower DTTP Filing” has the meaning given to such term in Clause 14 (Tax Gross-Up and Indemnities). 
 “Unpaid Sum” means any sum due and
payable but unpaid by an Obligor under the Finance Documents. 
 “US” and “United States”
means the United States of America, any state thereof, and the District of Columbia. 

  
 15 













 “US Tax Obligor” means: 

 

	 	(a)	 a Borrower which is resident for Tax purposes in the United States; or 



 

	 	(b)	 an Obligor some or all of whose payments under the Finance Documents are from sources within the United
States for United States Federal income tax purposes. 


 “Utilisation” means a utilisation
of the Facility. 
 “Utilisation Date” means the date of a Utilisation, being the date on which the relevant
Loan is to be made. 
 “Utilisation Request” means a request by a Borrower to utilise the Facility,
substantially in the form set out in Part I of Schedule 3 (Requests). 
 “VAT” means: 

 

	 	(a)	 any tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of
value added tax (EC Directive 2006/112); 


  

	 	(b)	 any value added tax imposed by the Value Added Tax Act 1994 and legislation and regulations supplemental
thereto; and 


  

	 	(c)	 any other Tax of a similar nature to the Taxes referred to in paragraph (a) or paragraph
(b) above, whether imposed in the U.K. or in a member state of the EU in substitution for, or levied in addition to, the Taxes referred to in paragraph (a) or paragraph (b) above or imposed elsewhere. 



 

	1.2	 Construction 



 

	 	(a)	 Unless a contrary indication appears, any reference in this Agreement to: 



 

	 	(i)	 the “Agent”, any “Arranger”, any “Borrower”, the
“Coordinator”, any “Finance Party”, any “Guarantor”, any “Lender”, any “Obligor” or any “Party” shall be construed so as to include their
respective successors in title, permitted assigns and permitted transferees to, or of, its rights and/or obligations under the Finance Documents; 


  

	 	(ii)	 “assets” includes present and future properties, revenues and rights of every description;



  

	 	(iii)	 a Lender’s “cost of funds” in relation to its participation in a Loan is a reference
to the average cost (determined either on an actual or notional basis) which that Lender would incur if it were to fund, from whatever source(s) it may reasonably select, an amount equal to the amount of that participation in that Loan for a period
equal in length to the Interest Period of that Loan and to the Agent’s “cost of funds” is a reference to the average cost (determined either on an actual or notional basis) which the Agent would incur if it were to fund, from whatever
source(s) it may reasonably select, an amount equal to the amount referred to in paragraph (b) of Clause 29.4 (Clawback and pre-funding); 



 

	 	(iv)	 a “group of Lenders” includes all the Lenders; 



 

	 	(v)	 the “Demerger Agreement”, the “Demerger Documents”, any “Finance
Document” or any other agreement or instrument is a reference to that Demerger Agreement, Demerger Document, Finance Document or other agreement or instrument as amended, novated, supplemented, extended or restated; 



 

	 	(vi)	 “know your customer” checks or requirements are the checks that a Finance Party requests in
order to meet its obligations under applicable money laundering requirements to identify a person who is (or is to become) its customer; 



  
 16 














	 	(vii)	 a “person” includes any individual, firm, company, corporation, government, state or agency
of a state or any association, trust, joint venture, consortium or partnership (whether or not having separate legal personality); 


  

	 	(viii)	 a “regulation” includes any regulation, rule, official directive, request or guideline
(whether or not having the force of law) of any governmental, intergovernmental or supranational body, agency, department or of any regulatory, self-regulatory or other authority or organisation; 



 

	 	(ix)	 a provision of law is a reference to that provision as amended or
re-enacted from time-to-time; and 


  

	 	(x)	 a time of day is a reference to London time. 



 

	 	(b)	 The determination of the extent to which a rate is “for a period equal in length” to an
Interest Period shall disregard any inconsistency arising from the last day of that Interest Period being determined pursuant to the terms of this Agreement. 


  


	 	(c)	 Section, Clause and Schedule headings are for ease of reference only. 



 

	 	(d)	 Unless a contrary indication appears, a term used in any other Finance Document or in any notice given under
or in connection with any Finance Document has the same meaning in that Finance Document or notice as in this Agreement. 


  

	 	(e)	 A Default (other than an Event of Default) is “continuing” if it has not been remedied or
waived and an Event of Default is “continuing” if it has not been remedied or waived. 


  

	 	(f)	 A reference in this Agreement to a page or screen of an information service displaying a rate shall include:



  

	 	(i)	 any replacement page of that information service which displays that rate; and 



 

	 	(ii)	 the appropriate page of such other information service which displays that rate from time to time in place
of that information service, 


 and, if such page or service ceases to be available, shall include any
other page or service displaying that rate specified by the Agent after consulting with the Designated Borrower. 
  

	 	(g)	 A reference in this Agreement to a Central Bank Rate shall include any successor rate to, or replacement
rate for, that rate. 


  

	 	(h)	 Any Reference Rate Supplement relating to a currency overrides anything relating to that currency in:



  

	 	(i)	 Schedule 9 (Reference Rate Terms); or 



 

	 	(ii)	 any earlier Reference Rate Supplement. 



 

	 	(i)	 A Compounding Methodology Supplement relating to the Daily
Non-Cumulative Compounded RFR Rate overrides anything relating to that rate in: 


  

	 	(i)	 Schedule 10 (Daily Non-Cumulative Compounded RFR Rate); or



  

	 	(ii)	 any earlier Compounding Methodology Supplement. 



  
 17 














	1.3	 Currency symbols and definitions 



“£” and “sterling” denote the lawful currency of the United Kingdom. 

  
 18 













 SECTION 2 

THE FACILITY 
  

	2.	 THE FACILITY 



 

	2.1	 The Facility 



 

	 	(a)	 Subject to the terms of this Agreement, the Lenders make available to the Borrowers a committed sterling
term loan facility in an aggregate amount equal to the Total Commitments. 


  

	 	(b)	 The Facility may be utilised by the way of a Loan or Loans in accordance with Clause 5 (Utilisation).



  

	2.2	 Increase  



 

	 	(a)	 The Designated Borrower may by giving prior notice to the Agent after the effective date of a cancellation
of: 


  

	 	(i)	 the Available Commitments of a Defaulting Lender in accordance with Clause 7.5 (Right of cancellation and
repayment in relation to a Defaulting Lender); or 


  

	 	(ii)	 the Commitments of a Lender in accordance with: 



 

	 	(A)	 Clause 7.1 (Illegality); or 



 

	 	(B)	 paragraph (a) of Clause 7.4 (Right of replacement or repayment and cancellation in relation to a
single Lender), 


 request that the Commitments relating to the Facility be increased (and they shall
be so increased) in an aggregate amount up to the amount of the Commitments so cancelled as follows: 
  

	 	(i)	 the increased Commitments will be assumed by one or more Eligible Institutions (each “Increase
Lender”) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments
which it is to assume, as if it had been an Original Lender in respect of those Commitments; 


  

	 	(ii)	 each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire
rights against one another as each Obligor and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender in respect of that part of the increased Commitments which it is to assume; 



 

	 	(iii)	 each Increase Lender shall become a Party as a “Lender” and any Increase Lender and each of the
other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender in respect
of that part of the increased Commitments which it is to assume; 


  

	 	(iv)	 the Commitments of the other Lenders shall continue in full force and effect; and 



  
 19 














	 	(v)	 any increase in the Commitments will only be effective on: 



 

	 	(A)	 the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; and



  

	 	(B)	 in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase the Agent
being satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender. The Agent
shall promptly notify the Designated Borrower and the Increase Lender upon being so satisfied. 


  

	 	(b)	 Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the
Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the Increase Date and that it is bound by that decision
to the same extent as it would have been had it been an Original Lender. 


  

	 	(c)	 The Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own
account) a fee in an amount equal to the fee which would be payable under Clause 24.4 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 24.6 (Procedure for transfer) and if the Increase Lender was a New
Lender. 


  

	 	(d)	 The Designated Borrower may pay to the Increase Lender a fee in the amount and at the times agreed between
the Designated Borrower and the Increase Lender in a letter between the Designated Borrower and the Increase Lender setting out that fee. A reference in this Agreement to a Fee Letter shall include any letter referred to in this Clause 2.2(d).



  

	 	(e)	 Neither the Agent nor any Lender shall have any obligation to find an Increase Lender and in no event shall
any Lender whose Commitment is replaced by an Increase Lender be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents. 



 

	 	(f)	 Clause 24.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this
Clause 2.2 in relation to an Increase Lender as if references in that Clause to: 


  

	 	(i)	 an “Existing Lender” were references to all the Lenders immediately prior to the relevant
increase; 


  

	 	(ii)	 the “New Lender” were references to that “Increase Lender”; and



  

	 	(iii)	 a “re-transfer” and “re-assignment” were references to respectively a “transfer” and “assignment”. 


  

	2.3	 Finance Parties’ rights and obligations 



 

	 	(a)	 The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance Party to
perform its obligations under the Finance Documents does not affect the obligations of any other Party under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.



  

	 	(b)	 The rights of each Finance Party under or in connection with the Finance Documents are separate and
independent rights and any debt arising under the Finance Documents to a Finance Party from an Obligor is a separate and independent debt in respect of which a Finance Party shall be entitled to enforce its rights in accordance with paragraph
(c) below. The rights of each Finance Party include any debt owing to 



  
 20 














	 	 
that Finance Party under the Finance Documents and, for the avoidance of doubt, any part of a Loan or any other amount owed by an Obligor which relates to a Finance Party’s participation in
the Facility or its role under a Finance Document (including any such amount payable to the Agent on its behalf) is a debt owing to that Finance Party by that Obligor. 



 

	 	(c)	 A Finance Party may, except as specifically provided in the Finance Documents, separately enforce its rights
under or in connection with the Finance Documents. 


  

	2.4	 Borrowers’ Agent 



 

	 	(a)	 Each Obligor by its execution of this Agreement hereby irrevocably authorises the Designated Borrower to
give all notices (including without limitation Utilisation Requests, notices of prepayment and cancellation and Selection Notices) and instructions and make such agreements (including, without limitation, in relation to Clause 35 (Amendments and
Waivers)) expressed to be capable of being given or made by the Obligors, notwithstanding that they may affect that Obligor, without further reference to or the consent of that Obligor and that Obligor shall, as regards the Finance Parties, be
bound thereby as though that Obligor had agreed that change, given that notice or made that agreement. 


  

	 	(b)	 Every act, omission, agreement, undertaking, settlement, waiver, amendment, supplement, variation, notice or
other communication given or made by the Designated Borrower or given to the Designated Borrower under any Finance Document on behalf of an Obligor or in connection with any Finance Document (whether or not known to an Obligor and whether occurring
before or after such other Obligor became an Obligor under any Finance Document) shall be binding for all purposes on that Obligor as if that Obligor had expressly made, given or concurred with it. In the event of any conflict between any notices or
other communications of the Designated Borrower and any other Obligor, those of the Designated Borrower shall prevail. 


  

	3.	 PURPOSE 


  

	3.1	 Purpose 



The Borrowers shall apply (or procure the application of) all amounts borrowed under the Facility directly or indirectly in or
towards the payment of the Demerger Dividend. 
  

	3.2	 Monitoring 



No Finance Party is bound to monitor or verify the application of any amount borrowed pursuant to this Agreement. 

 

	4.	 CONDITIONS OF UTILISATION 



 

	4.1	 Initial conditions precedent  



 

	 	(a)	 The Lenders will only be obliged to comply with Clause 5.4 (Lenders’ participation) in relation
to any Loan if on or before the Utilisation Date for that Loan, the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions Precedent) in form and substance satisfactory to the Agent. The Agent
shall notify the Designated Borrower and the Lenders promptly upon being so satisfied. 


  

	 	(b)	 Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the
Agent gives the notification described in paragraph (a) above, the Lenders authorise (but do not require) the Agent to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any
such notification. 



  
 21 














	4.2	 Certain funds Utilisations  



 

	 	(a)	 Subject to Clause 4.1 (Initial conditions precedent), the obligations of each Lender to participate
in a Loan during the Availability Period are subject to the further conditions precedent that on the date of the Utilisation Request and the Utilisation Date: 



 

	 	(i)	 no Major Default is continuing or would result from the making of the proposed Loan; 



 

	 	(ii)	 the Major Representations are true in all material respects and will be true in all material respects
immediately after the Loan is made; and 


  

	 	(iii)	 no Change of Control has occurred. 



 

	 	(b)	 During the Availability Period (save in circumstances where, pursuant to paragraph (a) above, a Lender
is not obliged to participate in a Loan under this Agreement) and subject to Clause 7.1 (Illegality) and each Borrower’s compliance with Clause 8 (Mandatory prepayment and cancellation) in circumstances where that Clause is
applicable, none of the Finance Parties shall be entitled to: 


  

	 	(i)	 cancel any of its Commitments; 



 

	 	(ii)	 rescind, terminate or cancel this Agreement or exercise any similar right or remedy or make or enforce any
claim under the Finance Documents it may have to the extent to do so would prevent or limit the making of a Loan; 


  

	 	(iii)	 refuse to participate in the making of a Loan; 



 

	 	(iv)	 exercise any right of set-off or counterclaim in respect of a Loan
under this Agreement to the extent that to do so would prevent or limit the making of a Loan; or 


  

	 	(v)	 cancel, accelerate or cause repayment or prepayment of any amounts owing under this Agreement or under any
other Finance Document to the extent to do so would prevent or limit the making of a Loan, 


 provided that
immediately upon the expiry of the Availability Period all such rights, remedies and entitlements shall be available to the Finance Parties notwithstanding that they may not have been used or been available for use during the Availability Period.

  

	4.3	 Maximum number of Utilisations 



A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation more than one Loan would be
outstanding. 

  
 22 













 SECTION 3 

UTILISATION 
  

	5.	 UTILISATION 



 

	5.1	 Delivery of a Utilisation Request 



A Borrower may utilise the Facility by delivery to the Agent of a duly completed Utilisation Request not later than the
Specified Time. 
  

	5.2	 Completion of a Utilisation Request 



 

	 	(a)	 Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:



  

	 	(i)	 the proposed Utilisation Date is a Business Day within the Availability Period; 



 

	 	(ii)	 the currency and amount of the Loan comply with Clause 5.3 (Currency and amount); and



  

	 	(iii)	 the proposed Interest Period complies with Clause 11 (Interest Periods). 



 

	 	(b)	 Only one Loan may be requested in each Utilisation Request. 



 

	5.3	 Currency and amount 



 

	 	(a)	 The currency specified in a Utilisation Request must be sterling. 



 

	 	(b)	 The amount of the proposed Loan must be: 



 

	 	(i)	 a minimum of £100,000,000 or if less, the Available Facility with an integral multiple of
£1,000,000; and 


  

	 	(ii)	 less than or equal to the Available Facility. 



 

	5.4	 Lenders’ participation 



 

	 	(a)	 If the conditions set out in this Agreement have been met, each Lender shall make its participation in each
Loan available by the Utilisation Date through its Facility Office. 


  

	 	(b)	 The amount of each Lender’s participation in each Loan will be equal to the proportion borne by its
Available Commitment to the Available Facility immediately prior to making the Loan. 


  

	 	(c)	 The Agent shall notify each Lender of the amount of each Loan and the amount of its participation in that
Loan by the Specified Time. 


  

	5.5	 Cancellation of Commitment  



Any amount of the Total Commitments which, at that time, are unutilised shall be immediately cancelled at the end of the
Availability Period. 

  
 23 













 SECTION 4 

REPAYMENT, PREPAYMENT AND CANCELLATION 
  

	6.	 REPAYMENT 



Each Borrower shall repay the aggregate amount of each Loan made to it in full on the Maturity Date. 

 

	7.	 ILLEGALITY, VOLUNTARY PREPAYMENT AND CANCELLATION 



 

	7.1	 Illegality 



If at any time it becomes unlawful for any Lender to perform any of its obligations as contemplated by this Agreement or to
fund or maintain its participation in a Loan, that Lender shall, promptly after becoming aware of the same, deliver to the Designated Borrower and the Agent a certificate to that effect (giving reasonable details of the basis of the unlawfulness)
upon becoming aware of that event and: 
  

	 	(a)	 upon the Agent notifying the Lender, such Lender shall not thereafter be obliged to make any Loans hereunder
and the amount of each Available Commitment of that Lender shall be immediately reduced to zero; and 


  

	 	(b)	 to the extent that the Lender’s participation has not been transferred pursuant to paragraph
(d) of Clause 7.4 (Right of replacement or repayment and cancellation in relation to a single Lender), 



each Borrower shall repay that Lender’s participation in that Loan made to that Borrower on the last day of the Interest
Period for the Loan occurring after the Agent has notified the Designated Borrower or, if earlier, the date specified by the Lender in the notice delivered to the Agent (being no earlier than the last day of any applicable grace period permitted by
law) and that Lender’s corresponding Commitment(s) shall be cancelled in the amount of the participations repaid. 
  

	7.2	 Voluntary cancellations 



The Designated Borrower may, if it gives the Agent not less than three Business Days’ (or such shorter period as the
Majority Lenders may agree) prior notice, cancel the whole or any part (being a minimum amount of £100,000,000 and an integral multiple of £1,000,000) of the Available Facility. Any cancellation under this Clause 7.2 shall reduce the
Commitments of the Lenders rateably. 
  

	7.3	 Voluntary prepayment of a Loan 



 

	 	(a)	 A Borrower may, if it gives the Agent not less than three RFR Banking Days’ (or such shorter period as
the Majority Lenders and that Borrower may agree) prior notice, prepay the whole or any part of any Loan (but, if in part, being an amount that reduces a minimum amount of £100,000,000 and an integral multiple of £1,000,000). Any such
prepayment shall be made together with interest accrued to the date of such prepayment. 


  

	 	(b)	 No prepayment shall be permitted to be made pursuant to paragraph (a) above if, as a result of such
prepayment, there would in any calendar year have been more than six voluntary prepayments of Loans during that calendar year. 



  
 24 














	7.4	 Right of replacement or repayment and cancellation in relation to a single Lender



  

	 	(a)	 If: 


  

	 	(i)	 any sum payable to any Lender by an Obligor is required to be increased under Clause 14.2(c) (Tax gross-up); or 


  

	 	(ii)	 any Lender claims indemnification from a Borrower under Clause 14.3 (Tax indemnity) or Clause 15
(Increased Costs), 


 the Designated Borrower may, whilst the circumstance giving rise to the
requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment(s) of that Lender and its intention to procure the repayment of that Lender’s participation in the Loans or give the Agent
notice of its intention to replace that Lender in accordance with paragraph (d) below. 
  

	 	(b)	 On receipt of a notice of cancellation referred to in paragraph (a) above, the Commitment(s) of that
Lender shall immediately be reduced to zero. 


  

	 	(c)	 On the last day of each Interest Period which ends after the Designated Borrower has given notice of
cancellation under paragraph (a) above (or, if earlier, the date specified by the Designated Borrower in that notice), the Borrower to which a Loan is outstanding shall repay that Lender’s participation in that Loan and that Lender’s
corresponding Commitment shall be immediately cancelled in the amount of the participations repaid. 


  

	 	(d)	 If: 


  

	 	(i)	 any of the circumstances set out in paragraph (a) above apply to a Lender; or 



 

	 	(ii)	 an Obligor will, subject to the operation of this Clause 7.4, become obliged to pay any amount in accordance
with 



	 	Clause	 7.1 (Illegality) to any Lender, 



each applicable Borrower may, on not less than two Business Days’ prior notice to the Agent and that Lender, replace that
Lender by requiring that Lender to (and, to the extent permitted by law, that Lender shall) transfer pursuant to Clause 24 (Changes to the Lenders) all (and not part only) of its rights and obligations under this Agreement to an Eligible
Institution which confirms its willingness to assume and does assume all the obligations of the transferring Lender in accordance with Clause 24 (Changes to the Lenders) for a purchase price in cash payable at the time of the transfer in an
amount equal to the outstanding principal amount of such Lender’s participation in the outstanding Loans and all accrued interest (to the extent that the Agent has not given a notification under Clause 24.10 (Pro rata interest
settlement)) and other amounts payable in relation thereto under the Finance Documents. 
  

	 	(e)	 The replacement of a Lender pursuant to paragraph (d) above shall be subject to the following
conditions:


  

	 	(i)	 the Borrowers shall have no right to replace the Agent; 



 

	 	(ii)	 neither the Agent nor any Lender shall have any obligation to find a replacement Lender;



  

	 	(iii)	 in no event shall the Lender replaced under paragraph (d) above be required to pay or surrender any of
the fees received by such Lender pursuant to the Finance Documents; and 


  

	 	(iv)	 the Lender shall only be obliged to transfer its rights and obligations pursuant to paragraph (d) above
once it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to that transfer. 



 

	 	(f)	 A Lender shall perform the checks described in paragraph (e)(iv) above as soon as reasonably practicable
following delivery of a notice referred to in paragraph (d) above and shall notify the Agent and the Designated Borrower when it has complied with those checks. 



  
 25 














	 	(g)	 The obligations in this Clause 7.4 do not in any way limit the obligations of any Finance Party under Clause
17 (Mitigation by the Finance Parties). 


  

	7.5	 Right of cancellation and repayment in relation to a Defaulting Lender 



 

	 	(a)	 If any Lender becomes a Defaulting Lender, the Designated Borrower may, at any time whilst the Lender
continues to be a Defaulting Lender, give the Agent notice of (i) cancellation of each Available Commitment of that Lender and the date thereof and, if it so wishes, (ii) its intention to procure the repayment of that Lender’s
participation in the Loans and the date thereof. 


  

	 	(b)	 On the notice referred to in paragraph (a) above becoming effective, each Available Commitment of the
Defaulting Lender shall immediately be reduced to zero. 


  

	 	(c)	 The Agent shall as soon as practicable after receipt of a notice referred to in paragraph (a) above,
notify all the Lenders. 


  

	 	(d)	 On the last day of each Interest Period which ends after the Designated Borrower has given notice of
repayment under paragraph (a) above (or, if earlier, the date specified by the Designated Borrower in that notice), the Borrower to which a Loan is outstanding shall repay that Lender’s participation in that Loan. 



 

	8.	 MANDATORY PREPAYMENT AND CANCELLATION 



 

	8.1	 Change of control  



 

	 	(a)	 In the event that a Change of Control occurs: 



 

	 	(i)	 the Designated Borrower shall promptly notify the Agent upon becoming aware of that event;



  

	 	(ii)	 a Lender shall not be obliged to fund a new Utilisation unless it has given a CoC Waiver Notice; and



  

	 	(iii)	 if a Lender so requires and notifies the Agent within 30 days of the Designated Borrower notifying the Agent
of the event, the Agent shall, by not less than 30 days’ notice to the Designated Borrower, cancel the Available Commitment of that Lender and declare the participation of that Lender in all Loans, together with accrued interest, and all other
amounts accrued or outstanding under the Finance Documents, immediately due and payable, whereupon each such Available Commitment will be immediately cancelled, any Commitment of that Lender shall immediately cease to be available for further
utilisation and all such Loans, accrued interest and other amounts shall become immediately due and payable. 


  

	 	(b)	 Any Lender which (i) notifies the Agent that it does not require the prepayment or cancellation it is
entitled to require under paragraph (a)(iii) above or (ii) does not provide any response to the Agent within 30 days of the Designated Borrower notifying the Agent of the event in accordance with paragraph (a)(i) above shall be deemed to have
notified the other Finance Parties that it has declined such cancellation and prepayment (a “CoC Waiver Notice”). 



  
 26 














	8.2	 Automatic Cancellation  



If: 

	 	(a)	 each of the Demerger Dividend Date and the Demerger Date has not occurred before 11.59 p.m. on the Longstop
Date; or 


  

	 	(b)	 GSK has publicly announced that it has conclusively elected not to pursue the Demerger (the
“Announcement”), 


 the Total Commitments shall be automatically cancelled in full, and
any outstanding Loans shall become immediately due and payable, on the earlier of: 
  

	 	(i)	 the Longstop Date; and 



 

	 	(ii)	 the date of the Announcement. 



 

	9.	 RESTRICTIONS 



 

	9.1	 Restrictions 



 

	 	(a)	 Any notice of cancellation or prepayment given by any Party under this Agreement shall be irrevocable and,
unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment. 



 

	 	(b)	 Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and
without premium or penalty. 


  

	 	(c)	 The Borrowers may not reborrow any part of the Facility which is prepaid or repaid. 



 

	 	(d)	 The Borrowers shall not repay or prepay all or any part of any Loan or cancel all or any part of the
Commitments except at the times and in the manner expressly provided for in this Agreement. 


  

	 	(e)	 Subject to Clause 2.2 (Increase), no amount of the Total Commitments cancelled under this Agreement
may be subsequently reinstated. 


  

	 	(f)	 If the Agent receives a notice of cancellation or prepayment it shall promptly forward a copy of that notice
to either the Designated Borrower or the affected Lender, as appropriate. 


  

	 	(g)	 If all or part of any Lender’s participation in a Loan is repaid or prepaid, an amount of that
Lender’s Commitment equal to the amount of the participation which is repaid or prepaid will be deemed to be cancelled on the date of repayment or prepayment. 



 

	9.2	 Application of prepayments 



Any prepayment of a Loan (other than a prepayment pursuant to Clause 7.1 (Illegality), Clause 7.4 (Right of
replacement or repayment and cancellation in relation to a single Lender), Clause 7.5 (Right of cancellation and repayment in relation to a Defaulting Lender) or Clause 8.1 (Change of Control)) shall be applied pro rata to
each Lender’s participation in that Loan. 

  
 27 













 SECTION 5 

COSTS OF UTILISATION 
  

	10.	 INTEREST 


  

	10.1	 Calculation of interest 



 

	 	(a)	 The rate of interest on each Loan for any day during an Interest Period is the percentage rate per annum
which is the aggregate of the applicable: 


  

	 	(i)	 Margin; and 


  

	 	(ii)	 Compounded Reference Rate for that day. 



 

	 	(b)	 If any day during an Interest Period for a Loan is not an RFR Banking Day, the rate of interest on that Loan
for that day will be the rate applicable to the immediately preceding RFR Banking Day. 


  

	10.2	 Calculation of the Margin 



 

	 	(a)	 Subject to the following provisions of this Clause 10.2, the Margin for an Interest Period of a Loan will be
determined on the first day of that Interest Period by reference to the table below: 


  

			
	 Rating (S&P/Moody’s)
	  	 Margin (per annum)

	 [***]
	  	 [***] per cent.

	 [***]
	  	 [***] per cent.

	 [***]
	  	 [***] per cent.

	 [***]
	  	 [***] per cent.

	 [***]
	  	 [***] per cent.


  

	 	(b)	 If there is a change to the Rating (including, for the avoidance of doubt, in circumstances where a Rating
is first assigned after the first Utilisation under this Agreement or paragraph (f) below applies): 


  

	 	(i)	 during an Interest Period, there will be no adjustment to the Margin for the purpose of the calculation of
the interest payable until the first day of the next Interest Period; and 


  

	 	(ii)	 at any time after the date of this Agreement, the Margin will be adjusted for the purpose of the calculation
of the Commitment Fee on the next date on which the Commitment Fee is payable in accordance with paragraph (b) of Clause 13.1 (Commitment fee). 


  

	 	(c)	 If Ratings are assigned by Rating Agencies that are not equivalent, then the Margin will be the average of
the Margin applicable to each such Rating. 


  

	 	(d)	 If only one Rating Agency has assigned a Rating, then the Margin will be the Margin applicable to that
Rating. 


  

	 	(e)	 Subject to paragraph (b) above, in the period from (and including) the date of this Agreement until
(but excluding) the earlier of (i) the Longstop Date and (ii) the date on which a Rating is first assigned, the applicable Margin (including, without limitation, for the purpose of calculating the Commitment Fee) will be the Margin
applicable to a Rating of [***]. 


  

	 	(f)	 Subject to paragraph (b) above, if no Rating is assigned on or before the Longstop Date or if, at any
time after a Rating is first assigned, the withdrawal of a Rating leads to no Rating being assigned, the Margin (including, without limitation, for the purpose of calculating the Commitment Fee) will be the Margin applicable to a Rating of [***]
from (and including) the Longstop Date or the date of withdrawal of such Rating (as applicable). 



  
 28 














	 	(g)	 For so long an Event of Default is continuing, the Margin (including, without limitation, for the purpose of
calculating the Commitment Fee) for a Loan will be the Margin applicable to a Rating of [***]. 


  

	10.3	 Payment of interest 



The Borrower to which a Loan has been made shall pay accrued interest on that Loan on the last day of each Interest Period.

  

	10.4	 Default interest 



 

	 	(a)	 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall
accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which is 1 per cent. per annum higher than the rate which would have been payable if the overdue amount had, during the
period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this
Clause 10.4 shall be immediately payable by the Obligor on demand by the Agent. 


  

	 	(b)	 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the
end of each Interest Period applicable to that overdue amount but will remain immediately due and payable. 


  

	10.5	 Notifications 



 

	 	(a)	 The Agent shall promptly upon an Interest Payment being determinable notify: 



 

	 	(i)	 the relevant Borrower of that Interest Payment; 



 

	 	(ii)	 each relevant Lender of the proportion of that Interest Payment which relates to that Lender’s
participation in the relevant Loan; and 


  

	 	(iii)	 the relevant Lenders and the relevant Borrower of each applicable rate of interest relating to the
determination of that Interest Payment. 


  

	 	(b)	 The Agent shall promptly notify the relevant Borrower of each Funding Rate relating to a Loan.



  

	 	(c)	 This Clause 10.5 shall not require the Agent to make any notification to any Party on a day which is not a
Business Day. 


  

	11.	 INTEREST PERIODS 



 

	11.1	 Selection of Interest Periods  



 

	 	(a)	 A Borrower may select an Interest Period for a Loan in the Utilisation Request for that Loan or (if the Loan
has already been borrowed) in a Selection Notice. 


  

	 	(b)	 Each Selection Notice for a Loan is irrevocable and must be delivered to the Agent by the Borrower to which
that Loan was made not later than the Specified Time. 


  

	 	(c)	 If a Borrower fails to deliver a Selection Notice to the Agent in accordance with paragraph (b) above,
the relevant Interest Period will be one Month. 



  
 29 














	 	(d)	 Subject to this Clause 11.1, a Borrower may select an Interest Period of any period specified in the
Reference Rate Terms or of any other period not exceeding six Months agreed between that Borrower, the Agent and all the Lenders. 


  

	 	(e)	 An Interest Period for a Loan shall not extend beyond the Maturity Date. 



 

	 	(f)	 Each Interest Period for a Loan shall start on the Utilisation Date or (if already made) on the last day of
its preceding Interest Period. 


  

	 	(g)	 No Interest Period shall be longer than six Months. 



 

	11.2	 Non-Business Days  



Any rules specified as “Business Day Conventions” in the Reference Rate Terms for a Loan or Unpaid Sum shall apply to
each Interest Period for that Loan or Unpaid Sum. 
  

	12.	 CHANGES TO THE CALCULATION OF INTEREST 



 

	12.1	 Interest calculation if no RFR or Central Bank Rate 



If: 
  

	 	(a)	 there is no applicable RFR or Central Bank Rate for the purposes of calculating the Daily Non-Cumulative Compounded RFR Rate for an RFR Banking Day during an Interest Period for a Loan; and 


  

	 	(b)	 “Cost of funds will apply as a fallback” is specified in the Reference Rate Terms,



 Clause 12.2 (Cost of funds) shall apply to that Loan for that Interest Period. 

 

	12.2	 Cost of funds 



 

	 	(a)	 If this Clause 12.2 applies to a Loan for an Interest Period, Clause 10.1 (Calculation of interest)
shall not apply to that Loan for that Interest Period and then the rate of interest on each Lender’s share of that Loan for that Interest Period shall be the percentage rate per annum which is the sum of: 



 

	 	(i)	 the applicable Margin; and 



 

	 	(ii)	 the rate notified to the Agent by that Lender as soon as practicable and in any event by the Reporting Time,
to be that which expresses as a percentage rate per annum its cost of funds relating to its participation in that Loan. 


  

	 	(b)	 If this Clause 12.2 applies and the Agent or the Borrower to which a Loan was made so requires, the Agent
and that Borrower shall enter into negotiations (for a period of not more than 30 days) with a view to agreeing a substitute basis for determining the rate of interest. 



 

	 	(c)	 Any alternative basis agreed pursuant to paragraph (b) above shall, with the prior consent of all the
Lenders and the relevant Borrower, be binding on all Parties. 


  

	 	(d)	 If this Clause 12.2 applies the Agent shall, as soon as is practicable, notify the applicable Borrower.




  
 30 














	13.	 FEES; COSTS AND EXPENSES 



 

	13.1	 Commitment fee 



 

	 	(a)	 The Designated Borrower shall pay to the Agent (for the account of each Lender) a fee (the
“Commitment Fee”) computed at a rate of: 


  

	 	(i)	 [***] of the applicable Margin on each Lender’s Available Commitment for the applicable Availability
Period in respect of the period from (and including) the date of this Agreement to (but excluding) the date falling 90 days after the date of this Agreement; 


  


	 	(ii)	 [***] of the applicable Margin on each Lender’s Available Commitment for the applicable Availability
Period in respect of the period from (and including) the date falling 90 days after the date of this Agreement to (but excluding) the date falling five Months after the date of this Agreement; and 



 

	 	(iii)	 [***] of the applicable Margin on each Lender’s Available Commitment for the applicable Availability
Period in respect of each successive period of three Months from and including the date falling five Months after the date of this Agreement that starts on (and includes), in the case of the first such period, the date falling five Months after the
date of this Agreement and, in any other case, the date after the last day of the preceding period of three Months and ends on (but excludes) the date falling three Months after the first day of such period. 



 

	 	(b)	 The Commitment Fee shall be computed as at: 



 

	 	(i)	 the last day of each period specified in Clauses 13.1(a)(i) to 13.1(a)(iii) (each a “Relevant
Period”); 


  

	 	(ii)	 the last day of each Availability Period; and 



 

	 	(iii)	 if any Commitment is cancelled, on the cancelled amount at the time the cancellation is effective.



  

	 	(c)	 The Designated Borrower shall pay the Commitment Fee for each Relevant Period to the Agent (for the account
of the Lenders) on the dates set out in Clause 13.1(b) above and any accrued and unpaid Commitment Fee outstanding on the last day of each Availability Period shall be paid by the Designated Borrower on such date without the requirement that the
Agent provides notice of such amount. 


  

	 	(d)	 No Commitment Fee is payable by the Designated Borrower on any Available Commitment of that Lender for any
day on which that Lender is a Defaulting Lender. 


  

	 	(e)	 The Commitment Fee is payable in sterling. 



 

	13.2	 Upfront fee 



The Designated Borrower shall pay to the Agent (for the account of each Lender) an upfront fee in the amount and at the times
agreed in the relevant Fee Letter. 
  

	13.3	 Agency fee 



The Designated Borrower shall pay to the Agent (for its own account) an agency fee in the amount and at the times agreed in a
Fee Letter. 
  

	13.4	 Costs and expenses  



 

	 	(a)	 All fees payable pursuant to this Clause 13 shall be deemed exclusive of VAT and calculated as provided for
pursuant to Clause 14.5 (VAT). 



  
 31 














	 	(b)	 The Designated Borrower shall pay all stamp, registration and other similar Taxes to which the Finance
Documents are subject and shall, from time to time within ten Business Days of demand of the Agent, indemnify the Finance Parties against any liabilities, costs, claims and expenses resulting from any failure to pay or any delay in paying any such
stamp, registration and other similar Taxes. This Clause shall not, for the avoidance of doubt, apply in respect of any such Taxes, liabilities, costs, claims and expenses resulting from any transfer or assignment of any rights of a Lender under any
Finance Document. 


  

	 	(c)	 The Designated Borrower shall within 21 days of demand promptly pay the Agent, each Arranger and the
Coordinator the amount of all costs and expenses (including legal fees, subject to any cap on those fees which were agreed between the Designated Borrower and the Agent or each Arranger (as applicable)) reasonably incurred by any of them in
connection with the negotiation, preparation, printing, execution and syndication of: 


  

	 	(i)	 this Agreement and any other documents referred to in this Agreement; and 



 

	 	(ii)	 any other Finance Documents executed after the date of this Agreement. 



 

	 	(d)	 If: 


  

	 	(i)	 an Obligor requests an amendment, waiver or consent; or 



 

	 	(ii)	 an amendment is required pursuant to Clause 35 (Amendments and Waivers), 



the Designated Borrower shall, within five Business Days of demand, reimburse the Agent for the amount of all costs and
expenses (including legal fees, subject to any cap on those fees which were agreed between the relevant Borrower and the Agent) reasonably incurred by the Agent in responding to, evaluating, negotiating or complying with that request or requirement.

  

	 	(e)	 The Designated Borrower shall, within five Business Days of demand, pay to each Finance Party the amount of
all costs and expenses incurred by that Finance Party in connection with the enforcement of, or the preservation of any rights under, any Finance Document. 



  
 32 













 SECTION 6 

ADDITIONAL PAYMENT OBLIGATIONS 
  

	14.	 TAX GROSS-UP AND INDEMNITIES 



 

	14.1	 Definitions 



 

	 	(a)	 In this Agreement: 



“Protected Party” means a Finance Party which is or will be subject to any liability, or required to
make any payment, for or on account of Tax in relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a Finance Document. 

“Qualifying Lender” means with respect to an amount due from an Obligor incorporated in the United Kingdom or
operating in the United Kingdom through a permanent establishment in the United Kingdom with which the relevant amount is connected, a Lender which is beneficially entitled to interest payable to that Lender in respect of an advance under a Finance
Document and is: 
  

	 	(i)	 a Lender: 


  

	 	(A)	 which is a bank (as defined for the purposes of Section 879 of the ITA) making an advance under a
Finance Document and is within the charge to United Kingdom corporation tax as respects any payments of interest made in respect of that advance or would be within the charge as respects such payments apart from Section 18A of the CTA; or



  

	 	(B)	 in respect of an advance made under a Finance Document by a person that was a bank (as defined for the
purposes of Section 879 of the ITA) at the time that that advance was made, and which is within the charge to United Kingdom corporation tax as respects any payments of interest made in respect of that advance; 



 

	 	(ii)	 a Treaty Lender with respect to the United Kingdom. 



“Tax Credit” means a credit against, relief or remission for, or repayment of any Tax. 

“Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under a Finance
Document, other than in respect of a FATCA Deduction. 
 “Tax Payment” means either the increase in a
payment made by a Borrower to a Finance Party under Clause 14.2 (Tax gross-up) or a payment under Clause 14.3 (Tax indemnity). 

“Treaty Lender” means a Lender which is a bank or financial institution and which: 

 

	 	(i)	 is treated as resident of a Treaty State for the purposes of a Treaty; 



 

	 	(ii)	 does not carry on a business in the United Kingdom or in the United States, as the case may be, through a
permanent establishment in the United Kingdom or the United States, as the case may be, with which that Lender’s participation in a Loan is effectively connected; and 



  
 33 














	 	(iii)	 satisfies all other conditions in the Treaty required to be satisfied under the Treaty for residents of that
Treaty State to obtain full exemption from United Kingdom taxation or United States taxation, as the case may be, on interest which relate to the Lender (including its tax or other status, the manner in which or the period for which it holds any
rights under a Finance Document, the reasons or purposes for its acquisition of such rights and the nature of any arrangements by which it disposes of or otherwise turns to account such rights). 



“Treaty State” means a jurisdiction having a double taxation agreement (a “Treaty”) with the
United Kingdom or the United States which makes provision for full exemption from Tax imposed by the United Kingdom or the Unites States, as the case may be, on interest. 

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

	 	(i)	 where it relates to a Treaty Lender with respect to the UK that is an Original Lender, contains the scheme
reference number and jurisdiction of tax residence stated opposite that Lender’s name in Schedule 1 (Original Lenders), and 


  

	 	(A)	 where the UK Borrower is an Original Borrower, is filed with HM Revenue & Customs within 30 days of
the date of this Agreement; or 


  

	 	(B)	 where the UK Borrower is an Additional Borrower, is filed with HM Revenue & Customs within 30 days
of the date on which that UK Borrower becomes an Additional Borrower; or 


  

	 	(ii)	 where it relates to a Treaty Lender with respect to the UK that is a New Lender or an Increase Lender,
contains the scheme reference number and jurisdiction of tax residence stated in respect of that Lender in the relevant Transfer Certificate, Assignment Agreement or Increase Confirmation, and 



 

	 	(A)	 where the UK Borrower is a Borrower as at the date on which that Treaty Lender with respect to the UK
becomes a Party as a Lender, is filed with HM Revenue & Customs within 30 days of that date; or 


  

	 	(B)	 where the UK Borrower is not a Borrower as at the date on which that Treaty Lender with respect to the UK
becomes a Party as a Lender, is filed with HM Revenue & Customs within 30 days of the date on which that UK Borrower becomes an Additional Borrower. 


  


	 	(b)	 Unless a contrary indication appears, in this Clause 14 a reference to “determines” or
“determined” means a determination made by the relevant person acting reasonably. 


  

	14.2	 Tax gross-up  



 

	 	(a)	 All payments to be made by an Obligor under the Finance Documents shall be made without any Tax Deduction,
unless a Tax Deduction is required by law. 


  

	 	(b)	 If, at any time, an Obligor becomes aware that it must make a Tax Deduction (or if thereafter there is any
change in the rates at which or the manner in which such Tax Deduction is calculated), that Obligor shall notify the Agent. Similarly, a Lender shall promptly notify the Agent on becoming so aware in respect of a payment payable to that Lender. If
the Agent receives such notification from a Lender it shall promptly notify the Designated Borrower. 


  

	 	(c)	 If an Obligor is required by law to make a Tax Deduction then the sum payable by such Obligor in respect of
which the Tax Deduction is required to be made shall be increased to the extent necessary to an amount which, after making any Tax Deduction, leaves an amount equal to the payment which would have been due if no Tax Deduction had been required.




  
 34 














	 	(d)	 A payment shall not be increased under paragraph (c) above by reason of a Tax Deduction on account of
Tax imposed by the United Kingdom, if on the date on which the payment falls due: 


  

	 	(i)	 the payment could have been made to the relevant Lender without a Tax Deduction if the Lender had been a
Qualifying Lender, but on that date that Lender is not or has ceased to be a Qualifying Lender other than as a result of any change after the date it became a Lender under this Agreement in (or in the interpretation, administration, or application
of) any law or Treaty or any published practice or published concession of any relevant taxing authority; or 


  

	 	(ii)	 the relevant Lender is a Qualifying Lender by virtue only of being a Treaty Lender with respect to the
United Kingdom and the payment could have been made to the Lender without the Tax Deduction had that Lender complied with its obligations under paragraph (f) or (g) (as applicable) below. 



 

	 	(e)	 If an Obligor is required to make a Tax Deduction, that Obligor shall make that Tax Deduction and any
payment required in connection with that Tax Deduction within the time allowed and in the minimum amount required by law and shall deliver to the Agent for the Finance Party entitled to that payment, within 30 days after it has made such Tax
Deduction or payment to the applicable authority, an original receipt (or a certified copy thereof) issued by such authority evidencing the payment to such authority of all amounts so required to be deducted or withheld in respect of such payment or
in the event that the relevant taxation or other authority has not issued such a receipt, a statement confirming that such payment has been made. 


  

	 	(f)	 


  

	 	(i)	 Subject to paragraph (ii) below, a Treaty Lender and an Obligor which makes a payment to which that
Treaty Lender is entitled shall complete as soon as reasonably practicable any procedural formalities necessary for that Obligor to obtain authorisation to make that payment without a Tax Deduction. 



 

	 	(ii)	 


  

	 	(A)	 A Treaty Lender with respect to the UK which is an Original Lender and that holds a passport under the HMRC
DT Treaty Passport scheme, and which wishes that scheme to apply to this Agreement, shall confirm its scheme reference number and its jurisdiction of tax residence opposite its name in Schedule 1 (Original Lenders); and 



 

	 	(B)	 a New Lender or an Increase Lender that is a Treaty Lender with respect to the UK and that holds a passport
under the HMRC DT Treaty Passport scheme, and which wishes that scheme to apply to this Agreement, shall confirm its scheme reference number and its jurisdiction of tax residence in the Transfer Certificate, Assignment Agreement or Increase
Confirmation which it executes, 


 and, having done so, that Lender shall be under no obligation pursuant
to paragraph (i) above. 
  

	 	(g)	 If a Lender has confirmed its scheme reference number and its jurisdiction of tax residence in accordance
with paragraph (f)(ii) above and: 


  

	 	(i)	 a UK Borrower making a payment to that Lender has not made a UK Borrower DTTP Filing in respect of that
Lender; or 



  
 35 














	 	(ii)	 a UK Borrower making a payment to that Lender has made a UK Borrower DTTP Filing in respect of that Lender
but: 


  

	 	(A)	 that UK Borrower DTTP Filing has been rejected by HM Revenue & Customs; 



 

	 	(B)	 HM Revenue & Customs has not given the UK Borrower authority to make payments to that Lender
without a Tax Deduction within sixty days of the date of the UK Borrower DTTP Filing; or 


  

	 	(C)	 HM Revenue & Customs has given the UK Borrower authority to make payments to that Lender without a
Tax Deduction but such authority has subsequently been revoked or expired, 


 and in each case, the UK
Borrower has notified that Lender in writing, that Lender and the UK Borrower shall co-operate in completing any additional procedural formalities necessary for that UK Borrower to obtain authorisation to make
that payment without a Tax Deduction. 
  

	 	(h)	 If a Lender has not confirmed its scheme reference number and jurisdiction of tax residence in accordance
with paragraph (f)(ii) above, no Obligor shall make a UK Borrower DTTP Filing or file any other form relating to the HMRC DT Treaty Passport scheme in respect of that Lender’s Commitment(s) or its participation in any Loan unless the Lender
otherwise agrees. 


  

	 	(i)	 A UK Borrower shall, promptly on making a UK Borrower DTTP Filing, deliver a copy of that UK Borrower DTTP
Filing to the Agent for delivery to the relevant Lender. 


  

	 	(j)	 Each Original Lender confirms that it is a Qualifying Lender by entering into this Agreement and
acknowledges that the Obligors are entering into this Agreement in reliance upon such confirmation. 


  

	 	(k)	 A Lender shall promptly notify the Designated Borrower and the Agent if it ceases to be a Qualifying Lender.



  

	 	(l)	 If an Obligor makes any payment to a Finance Party in respect of or relating to a Tax Deduction, but such
Obligor was not obliged to make such payment, the relevant Finance Party shall within five Business Days of demand refund such payment to such Obligor (together with interest on such amount calculated from the date on which such payment was made
until the date of repayment at the rate which would have applied if the amount repayable had been a Loan with an Interest Period of that duration). 


  

	14.3	 Tax indemnity 



 

	 	(a)	 The Designated Borrower shall (within ten Business Days of demand by the Agent) pay to a Protected Party an
amount equal to the loss, liability or cost which has been (directly or indirectly) suffered for or on account of Tax as a consequence of any change in law or regulation by that Protected Party in respect of a Finance Document.



  

	 	(b)	 Paragraph (a) above shall not apply: 



 

	 	(i)	 with respect to any Tax assessed on a Finance Party: 



 

	 	(A)	 under the law of the jurisdiction in which that Finance Party is incorporated or, if different, the
jurisdiction (or jurisdictions) in which that Finance Party is treated as resident for Tax purposes or as having a permanent establishment for Tax purposes; or 



  
 36 














	 	(B)	 under the law of the jurisdiction in which that Finance Party’s Facility Office is located in respect
of amounts received or receivable in that jurisdiction; or 


 if that Tax is imposed on or calculated by
reference to the net income (however denominated) received or receivable (but not any sum deemed to be received or receivable) by that Finance Party; or 
  

	 	(ii)	 to the extent a loss, liability or cost: 



 

	 	(A)	 is compensated for by an increased payment under Clause 14.2 (Tax
gross-up), Clause 13.4 (Costs and expenses) or Clause 14.5 (VAT); 


  

	 	(B)	 would have been compensated for by an increased payment under Clause 14.2 (Tax gross-up) but was not so compensated solely because one of the exclusions in paragraph (d) of Clause 14.2 (Tax gross-up) applied or the Lender failed to take
steps to mitigate as set out in Clause 17 (Mitigation by the Finance Parties); 


  

	 	(C)	 would have been compensated for by a payment under Clause 13.4 (Costs and expenses) or Clause
14.5 (VAT) but was not so compensated for solely because one of the exclusions in those Clauses applied; or 


  

	 	(D)	 relates to a FATCA Deduction required to be made by a Party. 



 

	 	(c)	 A Protected Party making, or intending to make a claim under paragraph (a) above shall promptly notify
the Agent of the event which will give, or has given, rise to the claim, following which the Agent shall notify the relevant Borrower. 


  

	 	(d)	 If an Obligor makes a Tax Payment and the relevant Finance Party determines that a Tax Credit is
attributable to an increased payment of which that Tax Payment forms part, to that Tax Payment or to a Tax Deduction in consequence of which that Tax Payment was required, the Finance Party shall pay an amount to that Obligor which that Finance
Party determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been required to be made by that Obligor. 



 

	 	(e)	 If a Lender intends to make a claim pursuant to paragraph (a) above, it shall deliver to the Designated
Borrower and the Agent a notice specifying the event by reason of which it is entitled to do so and setting out in reasonable detail the basis of the computation of such claim provided that if the relevant Lender fails to give such a notice within
30 days of any of its Facility Offices becoming aware of such event then such Lender shall not be entitled to make any claim under paragraph (a) in respect of the period more than 30 days before the date upon which it gives such a notice and
provided further that nothing herein shall require such Lender to disclose any confidential information relating to the organisation of its affairs. 


  

	14.4	 Lender status confirmation 



 

	 	(a)	 Each Lender which becomes a Party to this Agreement after the date of this Agreement shall indicate, in the
Transfer Certificate, Assignment Agreement or Increase Confirmation which it executes on becoming a Party, and for the benefit of the Agent and the Obligors, which of the following categories it falls in: 



 

	 	(i)	 not a Qualifying Lender; 



 

	 	(ii)	 a Qualifying Lender (other than a Treaty Lender); or 



 

	 	(iii)	 a Treaty Lender. 



  
 37 














	 	(b)	 If such a Lender fails to indicate its status in accordance with paragraph (a) above then that Lender
shall be treated for the purposes of this Agreement (including by each Obligor) as if it is not a Qualifying Lender until such time as it notifies the Agent which category applies (and the Agent, upon receipt of such notification, shall promptly
inform the Designated Borrower). For the avoidance of doubt, the documentation which a Lender executes on becoming a Party as a Lender shall not be invalidated by any failure of a Lender to comply with paragraph (a) above.



  

	14.5	 VAT 


  

	 	(a)	 All amounts expressed to be payable under a Finance Document by any Party to a Finance Party which (in whole
or in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is chargeable on that supply, and accordingly, subject to paragraph (b) below, if VAT is or becomes chargeable on any supply
made by any Finance Party to any Party under a Finance Document and such Finance Party is required to account to the relevant tax authority for the VAT, that Party must pay to such Finance Party (in addition to and at the same time as paying any
other consideration for such supply) an amount equal to the amount of the VAT (and such Finance Party must promptly provide an appropriate VAT invoice to that Party). 



 

	 	(b)	 If VAT is or becomes chargeable on any supply made by any Finance Party (the “Supplier”) to
any other Finance Party (the “Recipient”) under a Finance Document, and any Party other than the Recipient (the “Relevant Party”) is required by the terms of any Finance Document to pay an amount equal to the
consideration for that supply to the Supplier (rather than being required to reimburse or indemnify the Recipient in respect of that consideration): 


  

	 	(i)	 (where the Supplier is the person required to account to the relevant tax authority for the VAT) the
Relevant Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount of the VAT. The Recipient must (where this paragraph (i) applies) promptly pay to the Relevant Party an amount equal
to any credit or repayment the Recipient receives from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on that supply; and 



 

	 	(ii)	 (where the Recipient is the person required to account to the relevant tax authority for the VAT) the
Relevant Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or
repayment from the relevant tax authority in respect of that VAT. 


  

	 	(c)	 Where a Finance Document requires any Party to reimburse or indemnify a Finance Party for any cost or
expense, that Party shall reimburse or indemnify (as the case may be) such Finance Party for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that such Finance Party reasonably determines
that it is entitled to credit or repayment in respect of such VAT from the relevant tax authority. 


  

	 	(d)	 Any reference in this Clause 14.5 to any Party shall, at any time when such Party is treated as a member of
a group or unity (or fiscal unity) for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the representative member of such group at such time (the term “representative member” to have the
same meaning as in the Value Added Tax Act 1994 or) or, in the case of the grouping rules provided for in Article 11 of Council Directive 2006/112/EC (or as implemented by the relevant member state of the European Union) or any other similar
provision in any jurisdiction which is not a member state of the European Union, the 



  
 38 














	 	 
person who is treated as making the supply, or (as appropriate) receiving the supply so that a reference to a Party shall be construed as a reference to that Party or the relevant group or unity
(or fiscal unity) of which that Party is a member for VAT purposes at the relevant time or the relevant representative member (or head) of that group or unity (or fiscal unity) at the relevant time (as the case may be). 



 

	 	(e)	 In relation to any supply made by a Finance Party to any Party under a Finance Document, if reasonably
requested by such Finance Party, that Party must promptly provide such Finance Party with details of that Party’s VAT registration and such other information as is reasonably requested in connection with such Finance Party’s VAT reporting
requirements in relation to such supply. 


  

	14.6	 FATCA information 



 

	 	(a)	 Subject to paragraph (c) below, each Party shall, within ten Business Days of a reasonable request by
another Party: 


  

	 	(i)	 confirm to that Party whether it is: 



 

	 	(A)	 a FATCA Exempt Party; or 



 

	 	(B)	 not a FATCA Exempt Party; 



 

	 	(ii)	 supply to that Party such forms, documentation and other information relating to its status under FATCA as
that Party reasonably requests for the purposes of that Party’s compliance with FATCA; and 


  

	 	(iii)	 supply to that Party such forms, documentation and other information relating to its status as that Party
reasonably requests for the purposes of that Party’s compliance with any other law, regulation, or exchange of information regime. 


  

	 	(b)	 If a Party confirms to another Party pursuant to paragraph (a)(i) above that it is a FATCA Exempt Party and
it subsequently becomes aware that it is not or has ceased to be a FATCA Exempt Party, that Party shall notify the other Party reasonably promptly. 


  

	 	(c)	 Paragraph (a) above shall not oblige any Party to do anything which would or might in its reasonable
opinion constitute a breach of any law or regulation, any fiduciary duty or any duty of confidentiality. 


  

	 	(d)	 If a Party fails to confirm whether or not it is a FATCA Exempt Party or to supply forms, documentation or
other information requested in accordance with paragraph (a)(i) or (a)(ii) above (including, for the avoidance of doubt, where paragraph (c) above applies), then such Party shall be treated for the purposes of the Finance Documents (and
payments under them) as if it is not a FATCA Exempt Party until such time as the Party in question provides the requested confirmation, forms, documentation or other information. 



 

	 	(e)	 If a Party is a US Tax Obligor or the Agent reasonably believes that its obligations under FATCA or any
other applicable law or regulation require it, each Lender shall, within ten Business Days of: 


  

	 	(i)	 where a Party is a US Tax Obligor and the relevant Lender is an Original Lender, the date of this Agreement;



  

	 	(ii)	 where a Party is a US Tax Obligor on a date on which any other Lender becomes a Party as a Lender, that
date; 


  

	 	(iii)	 the date a new US Tax Obligor accedes as a Party; or 



  
 39 














	 	(iv)	 where a Party is not a US Tax Obligor, the date of a request from the Agent, 



supply to the Agent: 
  

	 	(i)	 a withholding certificate on an applicable IRS Form W-8, Form W-9 or any other relevant form; or 


  

	 	(ii)	 any withholding statement or other document, authorisation or waiver as the Agent may require to certify or
establish the status of such Lender under FATCA or that other law or regulation. 


  

	 	(f)	 The Agent shall provide any withholding certificate, withholding statement, document, authorisation or
waiver it receives from a Lender pursuant to paragraph (e) above to the relevant Party. 


  

	 	(g)	 If any withholding certificate, withholding statement, document, authorisation or waiver provided to the
Agent by a Lender pursuant to paragraph (e) above is or becomes materially inaccurate or incomplete, that Lender shall promptly update it and provide such updated withholding certificate, withholding statement, document, authorisation or waiver
to the Agent unless it is unlawful for the Lender to do so (in which case the Lender shall promptly notify the Agent). The Agent shall provide any such updated withholding certificate, withholding statement, document, authorisation or waiver to the
relevant Party. 


  

	14.7	 FATCA Deduction 



 

	 	(a)	 Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in
connection with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction. 



 

	 	(b)	 Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any
change in the rate or the basis of such FATCA Deduction), notify the Party to whom it is making the payment and, in addition, shall notify the Designated Borrower and the Agent and the Agent shall notify the other Finance Parties.



  

	15.	 INCREASED COSTS 



 

	15.1	 Increased costs 



 

	 	(a)	 If, by reason of: (i) the introduction of or any change in (or in the interpretation, administration or
application of) any law or regulation; or (ii) compliance with any law or regulation made after the date of this Agreement: 


  

	 	(i)	 a Lender (or its Holding Company) incurs a cost as a result of such Finance Party having entered into and/or
performing its obligations under this Agreement and/or assuming or maintaining a commitment under this Agreement and/or making one or more Loans hereunder; 


  

	 	(ii)	 a Lender (or its Holding Company) is unable to obtain the rate of return on its overall capital which it
would have been able to obtain but for such Lender having entered into and/or performing its obligations and/or assuming or maintaining a commitment under this Agreement; 



 

	 	(iii)	 there is any increase in the cost to a Lender (or its Holding Company) of funding or maintaining any of the
Loans made or to be made by such Lender hereunder, 



  
 40 













 then the Designated Borrower shall, within five Business Days of a demand by
the Agent, pay to the Agent for the account of the relevant Lender amounts sufficient to indemnify the relevant Lender (or its Holding Company) against, as the case may be, (a) such cost, (b) such reduction in such rate of return (or such
proportion of such reduction as is, in the reasonable opinion of the relevant Finance Party, attributable to its obligations hereunder) or (c) such increased cost (or such proportion of such increased cost as is, in the reasonable opinion of
the relevant Lender, attributable to its funding or maintaining Loans hereunder). 
  

	 	(b)	 Paragraph (a) above shall not entitle the Lender (or its Holding Company) to receive any amounts:



  

	 	(i)	 attributable to a Tax Deduction (as defined in Clause 14.1 (Definitions)) required by law to be made
by an Obligor; 


  

	 	(ii)	 attributable to a FATCA Deduction required to be made by a Party or any change in the rate of Tax on the
overall net income of the Finance Party (or its Holding Company); 


  

	 	(iii)	 compensated for by the operation of Clause 14 (Tax Gross-Up and
Indemnities) or which would have been compensated for under those Clauses but was not so compensated for because any of the exclusions, exceptions or carve-outs to such Clauses applied or the Finance Party failed to take steps to mitigate as set
out in Clause 17 (Mitigation by the Finance Parties); 


  

	 	(iv)	 attributable to the implementation or application of or compliance with the Basel II Framework or the Basel
III Framework; or 


  

	 	(v)	 attributable to the wilful breach by the Lender (or its Holding Company) of any law or regulation.



  

	15.2	 Increased cost of claims 



If a Lender intends to make a claim pursuant to Clause 15.1(a) the Lender shall deliver to the Designated Borrower a
certificate to that effect specifying the event by reason of which the relevant Lender is entitled to make such claim and setting out in reasonable detail the basis of such claim provided that if the Lender fails to give such a certificate within 30
days of any Facility Office becoming aware of such event, then the Lender shall not be entitled to make any claim under Clause 15.1(a) in respect of the period falling more than 30 days before the date upon which it gives such a certificate and
provided further that nothing herein shall require the Lenders to disclose any confidential information relating to the organisation of its affairs. 
  

	15.3	 Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 



For the purposes of this Clause 15, the United States’ Dodd-Frank Wall Street Reform and Consumer Protection Act 2010, and
all rules, regulations, orders, requests, guidelines or directives in connection therewith, shall be deemed to have been adopted and brought into effect after the date of this Agreement. 

 

	16.	 OTHER INDEMNITIES 



 

	16.1	 Currency indemnity 



If any sum due from an Obligor under the Finance Documents (a “Sum”), or any order, judgment or award given or
made in relation to a Sum, has to be converted from the currency (the “First Currency”) in which that Sum is payable into another currency (the “Second Currency”) for the purpose of: 

 

	 	(a)	 making or filing a claim or proof against that Obligor; 



  
 41 














	 	(b)	 obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings;



 such Obligor shall as an independent obligation, within three Business Days of demand, indemnify each
Finance Party to whom that Sum is due against any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between: (i) the rate of exchange used to convert that Sum from the First Currency into the
Second Currency; and (ii) the rate or rates of exchange available to that person at the time of its receipt of that Sum; provided that if the relevant Finance Party shall make a profit as a result of such discrepancy, and no Event of Default
has occurred and is continuing at such time, then such Finance Party shall pay the Obligor the amount which it determines in good faith to be the amount of such profit. 
  

	16.2	 Other indemnities 



The Obligors shall, within three Business Days of demand, indemnify the Finance Parties against: (a) any reasonable cost,
loss or liability incurred by the Finance Parties as a direct result of the occurrence of any Event of Default or any default by the Obligors in the performance of any of its obligations expressed to be assumed by it under the Finance Documents; and
(b) any loss it may suffer as a result of funding its portion of a Loan requested by the Borrowers hereunder but not made by reason of the operation of any one or more of the provisions hereof. 

 

	16.3	 Indemnity to the Agent 



The Designated Borrower shall within three Business Days of demand indemnify the Agent against any cost, loss or liability
incurred by the Agent (acting reasonably) as a result of: 
  

	 	(a)	 investigating any event which it reasonably believes is a Default; 



 

	 	(b)	 acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct
and appropriately authorised by an Obligor; or 


  

	 	(c)	 instructing lawyers, accountants, tax advisers, surveyors or other professional advisers or experts as
permitted under this Agreement. 


  

	16.4	 Demerger indemnity 



The Designated Borrower shall, within three Business Days of demand, indemnify each Lender and each of its Affiliates and their
respective officers or employees (each an “Indemnified Person”) against any cost, loss or liability incurred by that Lender (or Affiliate or their officers or employees) acting in that capacity in connection with committing to fund
or the funding of the Demerger Dividend (irrespective of whether the Facility is drawn) or the use of proceeds of the Facility (including but not limited to those incurred in connection with any litigation, arbitration or administrative proceedings
or regulatory enquiry concerning the Demerger) pursuant to the terms of this Agreement and where such cost, loss or liability has not already been paid pursuant to any other indemnity in the Finance Documents or any other indemnity provided by the
Borrowers to that Indemnified Person in any capacity: 
  

	 	(a)	 unless such loss or liability is finally judicially determined to result directly from the gross negligence
or wilful misconduct of any Indemnified Person; and 


  

	 	(b)	 nothing in this Clause 16.4 shall affect the express contractual obligations of the Lenders to the Obligors
contained in the Finance Documents. 



  
 42 














	17.	 MITIGATION BY THE FINANCE PARTIES 



 

	17.1	 Mitigation 



If circumstances arise which would, or would upon the giving of notice (or the like) result in: 

 

	 	(a)	 an increase in the amount of any payment to be made to the Lenders pursuant to Clause 14.2(c) (Tax gross-up); or 


  

	 	(b)	 a claim for indemnification pursuant to Clause 14.3 (Tax indemnity), Clause 16.1 (Currency
indemnity) or Clause 16.4 (Demerger indemnity); or 


  

	 	(c)	 the Commitment being reduced to zero or a Borrower having to make a payment to a Lender under Clause 7.1
(Illegality), 


 then, without in any way limiting, reducing or otherwise qualifying the obligations
of the Obligors under any of the Clauses referred to in paragraphs (a) to (c) above, the Lender shall, promptly after becoming aware of such circumstances, notify the Agent and the Obligors thereof and, in consultation with the Obligors over a
reasonable period of time, take such steps as may be reasonably open to it to mitigate the effects of such circumstances including, without limitation (i) taking reasonable steps to minimise the cost associated with taking legal or other
professional advice in connection with the relevant circumstances; and (ii) co-operating in completing any procedural formalities necessary for the Obligors to obtain authorisation to make a payment
without a Tax Deduction and (iii) the transfer of any Facility Office to another jurisdiction, provided in each case that the Lender shall be under no obligation to take any such steps if, in the reasonable opinion of the Lender, such steps
would or might reasonably be expected to have an adverse effect upon its business, operations or financial condition (other than minor costs and expenses of an administrative nature). 

 

	17.2	 Limitation of liability 



 

	 	(a)	 The Designated Borrower shall within five Business Days of demand indemnify each Finance Party for all costs
and expenses reasonably incurred by that Finance Party as a result of steps taken by it under Clause 17.1 (Mitigation). 


  

	 	(b)	 A Finance Party is not obliged to take any steps under Clause 17.1 (Mitigation) if, in the opinion of
that Finance Party (acting reasonably), to do so might be prejudicial to it. 



  
 43 













 SECTION 7 

GUARANTEE 
  

	18.	 GUARANTEE 


  


	18.1	 Guarantee and indemnity 



Each Guarantor irrevocably, unconditionally, jointly and severally: 

 

	 	(a)	 as principal obligor, guarantees to each Finance Party within five Business Days of demand by the Agent the
prompt performance by each Borrower of all its payment obligations under the Finance Documents; 


  

	 	(b)	 undertakes with each Finance Party that whenever a Borrower does not pay any amount when due under or in
connection with any Finance Document, that Guarantor shall within five Business Days of demand by the Agent pay that amount as if that Guarantor instead of the relevant Borrower were expressed to be the principal obligor; and 



 

	 	(c)	 agrees to indemnify each Finance Party within five Business Days of demand by the Agent against any loss or
liability suffered by that Finance Party as a result of any obligation guaranteed by that Guarantor being or becoming unenforceable, invalid or illegal. The amount payable by that Guarantor under this indemnity will not exceed the amount it would
have had to pay under this Clause 18 if the amount claimed had been recoverable on the basis of a guarantee. 


  

	18.2	 Continuing guarantee 



This guarantee is a continuing guarantee and will extend to the ultimate balance of all sums payable by any Obligors under the
Finance Documents, regardless of any intermediate payment or discharge in whole or in part. 
  

	18.3	 Reinstatement 



 

	 	(a)	 Where any discharge, release or arrangement (whether in respect of the obligations of any Obligor or any
security for those obligations or otherwise) is made in whole or in part or any arrangement is made on the basis of any payment, security or other disposition which is avoided or must be restored on insolvency, liquidation, administration or
otherwise without limitation, the liability of each Guarantor under this Clause 18 shall continue as if the discharge or arrangement had not occurred. 


  

	 	(b)	 Each Finance Party may concede or compromise any claim that any payment security or other disposition is
liable to avoidance or restoration. 


  

	18.4	 Waiver of defences 



The obligations of each Guarantor under this Clause 18 will not be affected by any act, omission, matter or thing which, but
for this Clause, would reduce, release or prejudice any of its obligations under this Clause 18 or prejudice or diminish those obligations in whole or in part, including (whether or not known to it or any Finance Party): 

 

	 	(a)	 any time, waiver or consent granted to, or composition with, any Obligor or any other person;



  

	 	(b)	 the release of any Obligor or any other person under the terms of any composition or arrangement with any
creditor of any Group Company; 


  

	 	(c)	 the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take
up or enforce, any rights against, or Security over assets of, any Obligor or other person or any non-presentation or non-observance of any formality or other
requirement in respect of any instrument or any failure to realise the full value of any Security; 



  
 44 














	 	(d)	 any incapacity or lack of powers, authority or legal personality of or dissolution or change in the members
or status of an Obligor or any other person; 


  

	 	(e)	 any variation, however fundamental, (including the extension of the availability of the Facility or the
increase or reinstatement of the whole or any part of the Total Commitments) or replacement of a Finance Document or any other document or Security, so that references to that Finance Document in this Clause 18 shall include each variation or
replacement; 


  

	 	(f)	 any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document or
any other document or Security, such that each Guarantor’s obligations under this Clause 18 shall remain in full force and its guarantee be construed accordingly, as if there were no unenforceability, illegality or invalidity; and



  

	 	(g)	 any postponement, discharge, reduction, non-provability or other
similar circumstance affecting any obligation of any Obligor under a Finance Document resulting from any insolvency, liquidation or dissolution proceedings or from any law, regulation or order so that each such obligation shall for the purposes of
each Guarantor’s obligations under this Clause 18 shall be construed as if there were no such circumstance. 


  

	18.5	 Immediate recourse 



Each Guarantor waives any right it may have of first requiring any Finance Party (or any trustee or agent on its behalf) to
proceed against or enforce any other rights or Security or claim payment from any person before claiming from that Guarantor under this Clause 18. This waiver applies irrespective of any law or any provision of a Finance Document to the contrary.

  

	18.6	 Appropriations 



Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been
irrevocably paid in full, each Finance Party (or any trustee or agent on its behalf) may: 
  

	 	(a)	 refrain from applying or enforcing any other moneys, Security or rights held or received by that Finance
Party (or any trustee or agent on its behalf) in respect of those amounts, or apply and enforce the same in such manner and order as it sees fit (whether against those amounts or otherwise) and no Guarantor shall be entitled to the benefit of the
same; and 


  

	 	(b)	 hold in an interest-bearing suspense account any moneys received from any Guarantor or on account of any
Guarantor’s liability under this Clause 18. 


  

	18.7	 Deferral of Guarantors’ rights 



 

	 	(a)	 Until all amounts which may be or become payable by the Obligors under or in connection with the Finance
Documents have been irrevocably paid in full and unless the Agent otherwise directs, no Guarantor will exercise any rights which it may have by reason of performance by it of its obligations under the Finance Documents or by reason of any amount
being payable, or liability arising, under this Clause 18: 


  

	 	(i)	 to be indemnified by an Obligor; 



 

	 	(ii)	 to claim any contribution from any other guarantor of any Obligor’s obligations under the Finance
Documents; 



  
 45 














	 	(iii)	 to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of
the Finance Parties under the Finance Documents or of any other guarantee or Security taken pursuant to, or in connection with, the Finance Documents by any Finance Party; 



 

	 	(iv)	 to bring legal or other proceedings for an order requiring any Obligor to make any payment, or perform any
obligation, in respect of which any Obligor has given a guarantee, undertaking or indemnity under Clause 18.1 (Guarantee and indemnity); 


  

	 	(v)	 to exercise any right of set-off against any Obligor; and/or



  

	 	(vi)	 to claim or prove as a creditor of any Obligor in competition with any Finance Party. 



 

	 	(b)	 If a Guarantor receives any benefit, payment or distribution in relation to such rights it shall hold that
benefit, payment or distribution to the extent necessary to enable all amounts which may be or become payable to the Finance Parties by the Obligors under or in connection with the Finance Documents to be repaid in full on trust for the Finance
Parties and shall promptly pay or transfer the same to the Agent or as the Agent may direct for application in accordance with Clause 29 (Payment Mechanics). 



  
 46 













 SECTION 8 

REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT 
  

	19.	 REPRESENTATIONS 



 

	19.1	 General 



Each Obligor makes the representations set out in Clause 19.2 (Status) to Clause 19.14 (No misleading
information) to each Finance Party on the date of this Agreement. 
  

	19.2	 Status  



It is a corporation duly organised under the law of its jurisdiction of incorporation with power to enter into the Finance
Documents and to exercise its rights and perform its obligations thereunder and all corporate and other action required to authorise its execution of the Finance Documents to which it is a party and its performance of its obligations thereunder has
been duly taken. 
  

	19.3	 Deduction of tax 



It is not required under the law of its jurisdiction of incorporation to make any deduction or withholding from any payment it
may make under any Finance Document: 
  

	 	(a)	 for or on account of United Kingdom Tax, so long as a Lender is a Qualifying Lender within the meaning of
paragraph (i) of the definition of “Qualifying Lender” in paragraph (a) of Clause 14.1 (Definitions); or 


  

	 	(b)	 for or on account of United Kingdom Tax, so long as a Lender is a Treaty Lender and the payment is one
specified in a direction given by the Commissioners of Revenue & Customs under Regulation 2 of the Double Taxation Relief (Taxes on Income) (General) Regulations 1970 (SI 1970/488). 



 

	19.4	 Ranking 



Under the laws of its jurisdiction of incorporation, the claims of the Finance Parties against it under the Finance Documents
will rank at least pari passu with the claims of all its other unsecured creditors save those whose claims are preferred solely by any bankruptcy, insolvency, liquidation or other similar laws of general application. 

 

	19.5	 Power and authority 



All acts, conditions and things required to be done, fulfilled and performed in order: 

 

	 	(a)	 to enable it lawfully to enter into, exercise its rights under and perform and comply with the material
obligations expressed to be assumed by it under the Finance Documents; 


  

	 	(b)	 to ensure that the material obligations expressed to be assumed by it under the Finance Documents are legal,
valid and binding; and 


  

	 	(c)	 to make the Finance Documents admissible in evidence in England, 



have been done, fulfilled and performed. 
  

	19.6	 No filing or stamp taxes 



Under the law of its jurisdiction of incorporation, it is not necessary that the Finance Documents be filed, recorded or
enrolled with any court or other authority in such jurisdiction or that any stamp, registration or similar Tax be paid on or in relation to the Finance Documents (excluding, for the avoidance of doubt, in relation to any transfer or assignment of
any rights of a Lender under any Finance Document). 

  
 47 














	19.7	 Binding obligations 



Under the law of its jurisdiction of incorporation, the obligations expressed to be assumed by it under the Finance Documents
are (subject to any Legal Reservations) legal and valid obligations binding on it in accordance with the terms hereof. 
  

	19.8	 Insolvency 



It has not taken any corporate action nor has any order been made for its or any Material Subsidiary’s winding up,
dissolution, administration or re-organisation (other than, in the case of a Material Subsidiary, on a solvent basis) or for the appointment of a receiver, administrator, administrative receiver, trustee or
similar officer of it, or any Material Subsidiary or of all or any material part of its or any Material Subsidiary’s assets or revenues. 
  

	19.9	 Financial statements 



The Consolidated Financial Statements were prepared in accordance with GAAP and consistently applied and gave (in conjunction
with the notes thereto) a true and fair view of the financial condition of, prior to the Demerger Date, the Original Group and, on and following the Demerger Date, the Group at the date as of which they were prepared and the results of the Original
Group’s or Group’s (as applicable) operations during the financial year then ended and that there has been no material non-disclosure of information to its auditors in relation to the preparation of
the Consolidated Financial Statements prior to the date of such Consolidated Financial Statements. 
  

	19.10	 No conflict 



The execution of the Finance Documents and its exercise of its rights and performance of its obligations thereunder do not and
will not: 
  

	 	(a)	 conflict with its constitutional documents; or 



 

	 	(b)	 conflict with any applicable law, regulation or official or judicial order. 



 

	19.11	 Anti-Bribery and corruption 



Save as disclosed in the Original Consolidated Financial Statements or any subsequent announcements of, prior to the Demerger
Date, any Original Group Company or, on and following the Demerger Date, any Group Company, each Group Company has conducted its businesses in all material respects in compliance with the Anti-Corruption Laws and has instituted and maintained
policies and procedures designed to promote and achieve compliance with such laws. 
  

	19.12	 Sanctions 


  


	 	(a)	 Except as disclosed to the Agent in writing prior to the date of this Agreement, no Group Company, nor to
the knowledge of the Obligors, any director or officer or any employee of any Group Company: 


  

	 	(i)	 is a Restricted Party; 



 

	 	(ii)	 has knowingly engaged in any transaction that evades or avoids any Sanctions; or 



 

	 	(iii)	 has knowingly engaged or is knowingly engaging in any trade, business or other activities which is in breach
of any Sanctions. 



  
 48 














	 	(b)	 This Clause 19.12 shall not apply to or in favour of any person if and to the extent that it would result in
a breach by, or in respect of that person, of any applicable Blocking Law. 


  

	19.13	 No Event of Default 



No Event of Default has occurred and is continuing. 
  

	19.14	 No misleading information 



 

	 	(a)	 Any factual information provided by any Group Company for the purposes of the Information Package was true
and accurate in all material respects as at the date it was provided, the date it was agreed between the Original Lenders (or Agent) and the Designated Borrower to form part of the Information Package pursuant to limb (c) of the definition
thereof, or as at the date (if any) at which it is stated (as applicable). 


  

	 	(b)	 Nothing has occurred or been omitted from the Information Package and no information has been given or
withheld that results in the information contained in the Information Package being untrue or misleading in any material respect. 


  

	 	(c)	 The financial projections contained in the Information Package have been prepared on the basis of recent
historical information and on the basis of reasonable assumptions. 


  

	19.15	 Repetition 



 

	 	(a)	 The Repeating Representations are deemed to be made by each Obligor by reference to the latest available
audited consolidated financial statements and to the facts and circumstances then existing on: 


  

	 	(i)	 the date of a Utilisation Request and the first day of each Interest Period; and 



 

	 	(ii)	 in the case of an Additional Obligor, together with the representations in Clause 19.3 (Deduction of
tax), Clause 19.6 (No filing or stamp taxes), Clause 19.11 (Anti Bribery and corruption) and Clause 19.12 (Sanctions) (in each case, in relation to itself only), the day on which it becomes (or it is proposed that it
becomes) an Additional Obligor. 


  

	 	(b)	 The representations in Clauses 19.11 (Anti-Bribery and corruption) and 19.12 (Sanctions) are
deemed to be made by the CH Topco by reference to the facts and circumstances then existing on the day on which it becomes an Additional Guarantor. 


  

	20.	 FINANCIAL INFORMATION 



 

	20.1	 Financial information 



Subject to Clause 20.2 (Use of websites) below, the Relevant Group Company shall: 

 

	 	(a)	 as soon as the same become available, but in any event within 150 days after the end of each of its
financial years (commencing with the first financial year of the Group to occur after the Demerger Date for which such statements are prepared), deliver to the Agent the audited consolidated financial statements of the Group for such financial year,
provided that, if the Demerger Date has not occurred on or before 31 December 2022, the audited consolidated financial statements of the Original Group for the financial year ending 31 December 2022 shall be delivered within 150 days of
the end of such financial year; 


  

	 	(b)	 as soon as the same become available, but in any event within 120 days of the first half of each of its
financial years (commencing with the first financial half year of the Group to occur after the Demerger Date for which such interim report is prepared), deliver to the Agent the interim report of the Group for such period; 



  
 49 














	 	(c)	 as soon as despatched to its shareholders or creditors (as applicable), deliver to the Agent all such
documents despatched to its shareholders (or any class of them) or to its creditors generally; 


  

	 	(d)	 on the request of any Finance Party (through the Agent), furnish the Agent with such information about the
business and financial condition of the Group as that Finance Party may reasonably require, provided that the Relevant Group Company shall not be obliged to disclose any information relating to the Relevant Group Company or the Group which would
constitute a breach of any legally binding duty of confidentiality; 


  

	 	(e)	 upon reasonable request from the Agent (acting on the instructions of the Majority Lenders which may not be
given more than once in any 12 month period), a list confirming the Material Subsidiaries on the basis of the latest published consolidated financial statements of, prior to the Demerger Date, the Original Group and, on and following the Demerger
Date, the Group; 


  

	 	(f)	 ensure that a duly authorised officer of it (acting in that capacity) certifies (i) each set of audited
consolidated financial statements of the Group delivered by the Relevant Group Company pursuant to paragraph (a) above as giving a true and fair view of the financial condition of the Group as at the end of the period to which those financial
statements relate and of the results of its operations during such period and (ii) each set of interim reports delivered by the Relevant Group Company pursuant to paragraph (b) above as having been prepared and reviewed by the auditors in
accordance with the Group’s usual accounting practices for interim reports; and 


  

	 	(g)	 ensure that each set of financial statements of the Group delivered by it pursuant to paragraph
(a) above has been audited by an internationally recognised firm of independent auditors licensed to practice in England, 



provided that if any of the information deliverables in paragraphs (a), (b) or (f) above have been provided prior to the
Demerger Date, they shall not be required to be provided for the same relevant period by the Relevant Group Company. 
  

	20.2	 Use of websites 



The Relevant Group Company shall only be required to deliver the documents referred to in Clause 20.1(a) to Clause 20.1(e)
(inclusive) and the certificates referred to in Clause 20.1(f): 
  

	 	(a)	 if and to the extent that the documents referred to in Clause 20.1(a) to Clause 20.1(e) (inclusive) are not
published on the Relevant Group Company’s or, prior to the Demerger Date, any Original Group Company’s or, on and following the Demerger Date, any Group Company’s website, via a recognised stock exchange or other market or otherwise
made publicly available by the Relevant Group Company or, prior to the Demerger Date, any Original Group Company or, on and following the Demerger Date, any Group Company; or 



 

	 	(b)	 otherwise at the request of the Agent if the Agent is unable to access the relevant website, data site or
portal on which the relevant information was originally published or made available. 


  

	21.	 INFORMATION UNDERTAKINGS 



 

	 	(a)	 The undertakings in paragraphs (b) and (c) of this Clause 21 remain in force from the date of this
Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in force. 



  
 50 














	 	(b)	 


  

	 	(i)	 Each Borrower shall notify the Agent of any Default (and the steps, if any, being taken to remedy it)
promptly upon becoming aware of its occurrence. 


  

	 	(ii)	 Promptly upon a written request by the Agent, each Borrower shall supply to the Agent a written confirmation
that no Default is continuing (or if a Default is continuing, specifying the Default and the steps, if any, being taken to remedy it). 


  

	 	(c)	 Each Borrower shall, promptly following a request by the Agent, provide all documentation and other
information that the Agent or any Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations. 



 

	 	(d)	 The Original Borrower shall notify the Agent of: 



 

	 	(i)	 the initial assignment of a Rating at any time after the date of this Agreement and any subsequent change to
the Rating; 


  

	 	(ii)	 the Announcement; 



 

	 	(iii)	 the occurrence of the Demerger Dividend Date; and 



 

	 	(iv)	 the occurrence of the Demerger Date, 



in each case promptly upon becoming aware of the same. 

 

	22.	 UNDERTAKINGS 



 

	22.1	 General  



The undertakings in Clause 22.2 (Authorisations) to Clause 22.9 (Condition Subsequent) remain in force from (and
including) the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in force. 
  

	22.2	 Authorisations 



Each Obligor shall promptly obtain, comply with and do all that is necessary to maintain in full force and effect any
Authorisation required in or by law and regulation of its jurisdiction of incorporation to enable it to lawfully enter into and perform its obligations under the Finance Documents and to ensure the legality, validity, enforceability or admissibility
in evidence in England and Wales of the Finance Documents. 
  

	22.3	 Compliance with laws 



Each Obligor shall comply in all respects with all laws to which it may be subject, if failure so to comply would materially
impair its ability to perform its obligations under the Finance Documents. 
  

	22.4	 Negative pledge 



No Obligor shall (and each Obligor shall procure that no Material Subsidiary shall) without the prior written consent of the
Majority Lenders (such consent not to be unreasonably withheld or delayed) create or permit to subsist any mortgage, charge, pledge, assignment by way of security or lien (other than a lien arising by operation of law in the ordinary course of
business and discharged as soon as reasonably practicable) or other encumbrance or security interest upon the whole or part of its property, assets or revenues, present or future, to secure: (a) payment of any Relevant Indebtedness; or
(b) any payment under any guarantee or indemnity 

  
 51 













 
granted by such Obligor or any Material Subsidiary in respect of any Relevant Indebtedness, other than encumbrances securing principal indebtedness for moneys borrowed or any debit balances at
banks with a maturity of 365 days or less, of not more than £200,000,000 (or its equivalent in other currencies), in aggregate. 
  

	22.5	 Pari passu ranking 



Each Obligor shall ensure that at all times the claims of the Finance Parties against it under the Finance Documents rank at
least pari passu with the claims of all its other unsecured creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation or other similar laws of general application. 

 

	22.6	 Anti-bribery and corruption 



 

	 	(a)	 The Relevant Group Company shall not (and shall procure that no other member of the Group shall) knowingly
use the proceeds of the Facility for any purpose which would breach the Anti-Corruption Laws. 


  

	 	(b)	 The Relevant Group Company shall (and shall procure that each other member of the Group shall):



  

	 	(i)	 conduct its businesses in all material respects in compliance with applicable Anti-Corruption Laws; and



  

	 	(ii)	 maintain policies and procedures designed to promote and achieve compliance with such laws.



  

	22.7	 Sanctions 


  


	 	(a)	 The Relevant Group Company shall not (and shall procure that no other member of the Group shall):



  

	 	(i)	 knowingly use, lend, contribute or otherwise make available all or any part of the proceeds of any
Utilisation: 


  

	 	(A)	 for the purpose of financing or facilitating any trade, business or other activities, to the extent such
financing or facilitation or other activities would be prohibited by Sanctions or would otherwise cause any person to be in breach of Sanctions; or 


  

	 	(B)	 in any other manner that would reasonably be expected to result in any Finance Party or member of the Group
being in breach of any Sanctions or becoming a Restricted Party; 


  

	 	(ii)	 knowingly engage in any transaction that evades or avoids any Sanctions; or 



 

	 	(iii)	 knowingly fund any payment under a Finance Document out of proceeds derived from any action which is in
breach of any Sanctions. 


  

	 	(b)	 Each member of the Group must ensure that appropriate controls and safeguards are in place designed to
prevent any action being taken that would be contrary to paragraph (a) above. 


  

	 	(c)	 This Clause 22.7 shall not apply to or in favour of any person if and to the extent that it would result in
a breach by, or in respect of that person, of any applicable Blocking Law. 



  
 52 














	22.8	 Disposals 



After the Demerger Date, no Obligor shall (and each Obligor shall procure that none of its Subsidiaries shall), either in a
single transaction or in a series of transactions, whether related or not and whether voluntarily or involuntarily, sell, transfer, grant or lease or otherwise dispose of all or substantially all of the assets of the Group to a person that is not
(or will not, on completion of the relevant transaction, be) a Group Company (save for the purposes of any amalgamation, reconstruction or corporate re-organisation, the terms of which could not reasonably
expected to be adverse to the interests of the Lenders (taken as a whole) under the Finance Documents). 
  

	22.9	 Condition Subsequent 



 

	 	(a)	 The Borrowers shall ensure that, by no later than five Business Days after the Demerger Date, the CH Topco
has become an Additional Guarantor in accordance with Clause 25.5 (Additional Guarantors). 


  

	 	(b)	 The Borrowers shall ensure that, by no later than 30 days after the Demerger Date (or, if later, no later
than five Business Days after the Agent notifies the Borrowers of the final information request received from a Finance Party), each Finance Party is provided with the information requested by that Finance Party to enable it to comply with all
necessary “know your customer” or other similar checks under all applicable laws and regulations in connection with the accession of the CH Topco as an Additional Guarantor. 



 

	23.	 EVENTS OF DEFAULT 



Each of the events or circumstances set out in Clause 23.1 (Non-payment) to
Clause 23.9 (Unlawfulness) is an Event of Default. 
  

	23.1	 Non-payment 



An Obligor fails to pay any sum due from it under the Finance Documents at the time, in the currency and in the manner
specified herein and such failure is not remedied within three Business Days after the Agent has given notice thereof to such Obligor. 
  

	23.2	 Misrepresentation 



Any representation or statement made by an Obligor under the Finance Documents or in any notice or other document, certificate
or statement delivered by it pursuant thereto is incorrect or misleading in a material respect when made or deemed to be made. 
  

	23.3	 Other obligations 



An Obligor fails duly to perform or comply with any of its obligations, other than as provided in Clause 23.1 (Non-payment) and Clause 23.2 (Misrepresentation) above, expressed to be assumed by it under the Finance Documents and such failure (if capable of remedy) is not remedied within 30 Business Days after the
Agent has given notice thereof to such Obligor. 
  

	23.4	 Cross default 



Any Indebtedness for borrowed money of an Obligor or any Material Subsidiary is: 

 

	 	(a)	 not paid when due or within any applicable grace period provided for in the original agreement relating
thereto or otherwise granted by the person to whom such indebtedness is owed or is validly declared to be or otherwise becomes due and payable prior to its specified maturity by reason of the happening of a default or an event of default (howsoever
described); and 


  

	 	(b)	 the aggregate principal amount of all indebtedness referred to in paragraph (a) above of an Obligor and
all Material Subsidiaries exceeds £100,000,000 (or its equivalent in other currencies). 



  
 53 














	23.5	 Insolvency 



 

	 	(a)	 Subject to paragraph (b) below, any meeting is convened (in relation to an Obligor) by an Obligor or
(in relation to any Material Subsidiary) by such Material Subsidiary or by the requisite number of its shareholders to pass a resolution, or an effective resolution is passed or any order is made for
winding-up, dissolution, administration or re-organisation of an Obligor or any Material Subsidiary or for the appointment of a receiver, administrator, administrative
receiver, trustee or similar officer of an Obligor or any Material Subsidiary or of all or a material part of an Obligor’s or such Material Subsidiary’s revenues and assets. 



 

	 	(b)	 Paragraph (a) above does not apply to any meeting, step, action, order or resolution for or in respect
of a solvent winding-up, dissolution or reorganisation of a Material Subsidiary which could not reasonably be expected to be adverse to the interests of the Lenders (taken as a whole) under the Finance
Documents. 


  

	23.6	 Insolvency proceedings 



Either an Obligor or any Material Subsidiary is unable to pay its debts as they fall due, commences negotiations with any one
or more of its creditors with a view to the general readjustment or rescheduling of a material part of its indebtedness or makes a general assignment for the benefit of or a composition with its creditors or an attachment or other legal process is
enforced on all or a material part of the assets of an Obligor or any Material Subsidiary unless it is discharged within 30 days. 
  

	23.7	 Creditors’ process 



Any expropriation, attachment, sequestration, distress or execution affects all or a material part of the assets of an Obligor
or any Material Subsidiary and is not discharged within 30 days. 
  

	23.8	 Repudiation 



An Obligor repudiates any Finance Document or does or causes to be done any act or thing evidencing an intention to repudiate
any Finance Document. 
  

	23.9	 Unlawfulness 



At any time any act, condition or thing required to be done, fulfilled or performed in order: (i) to enable an Obligor
lawfully to enter into, exercise its rights under and perform the obligations expressed to be assumed by it under the Finance Documents; (ii) to ensure that the material obligations expressed to be assumed by an Obligor under the Finance
Documents are legal, valid and, binding; or (iii) to make the Finance Documents admissible in evidence in England is not done fulfilled or performed and such failure (if capable of remedy) is not remedied within 30 Business Days after the Agent
has given notice thereof to such Obligor. 
  

	23.10	 Acceleration 



 

	 	(a)	 Upon the occurrence of an Event of Default, and in any such case and at any time thereafter, the Agent may
(or shall if so directed by the Majority Lenders) by written notice to the Obligors: (A) declare the Loans to be immediately due and payable (whereupon the same shall become so payable together with accrued interest thereon and any other sums
then owed by the Borrowers under the Finance Documents) or declare the Loans to be due and payable on demand of the Agent on the instructions of the Majority Lenders; and/or (B) declare that the Commitments shall be cancelled, whereupon the
same shall be cancelled and shall be reduced to zero. 


  

	 	(b)	 If, pursuant to paragraph (a) above the Agent declares the Loans to be due and payable on demand of the
Agent (on the instructions of the Majority Lenders), then, and at any time thereafter whilst any Event of Default is continuing, the Agent may by written notice to the Obligors call for repayment of the Loans on such date together with accrued
interest thereon (and any other sums then owed by the Borrowers under the Finance Documents) or withdraw its declaration with effect from such date as it may specify in such notice. 



  
 54 













 SECTION 9 

CHANGES TO PARTIES 
  

	24.	 CHANGES TO THE LENDERS 



 

	24.1	 Assignments and transfers by the Lenders 



Subject to this Clause 24, a Lender (the “Existing Lender”) may: 

 

	 	(a)	 assign any of its rights; or 



 

	 	(b)	 transfer by novation any of its rights and obligations, 



to another bank or financial institution or to a trust, fund or other entity which is regularly engaged in or established for
the purpose of making, purchasing or investing in loans, securities or other financial assets (the “New Lender”). 
  

	24.2	 Designated Borrower’s consent 



 

	 	(a)	 Subject to paragraph (b) below, the prior written consent of the Designated Borrower is required for an
assignment or transfer by an Existing Lender, unless the assignment or transfer is: 


  

	 	(i)	 to another Lender or an Affiliate of a Lender which in each case is a Qualifying Lender;



  

	 	(ii)	 made at a time when an Event of Default is continuing; or 



 

	 	(iii)	 in connection with the assignment or transfer of a Borrower’s rights, benefits and/or obligations
pursuant to Clause 25.1 (Assignments and transfers by the Borrowers). 


  

	 	(b)	 The consent of the Designated Borrower to an assignment or transfer must not be unreasonably withheld or
delayed (it being acknowledged and agreed that, without prejudice to the generality of the foregoing requirement of the Designated Borrower to provide its consent, it is reasonable for the Designated Borrower to withhold or delay its consent if the
assignment or transfer is to a person which is not an Acceptable Bank or a Qualifying Lender). 


  

	24.3	 Other conditions of assignment or transfer 



 

	 	(a)	 An assignment will only be effective on: 



 

	 	(i)	 receipt by the Agent (whether in the Assignment Agreement or otherwise) of written confirmation from the New
Lender (in form and substance satisfactory to the Agent) that the New Lender will assume the same obligations to the other Finance Parties as it would have been under if it had been an Original Lender; and 



 

	 	(ii)	 performance by the Agent of all necessary “know your customer” or other similar checks under all
applicable laws and regulations in relation to such assignment to a New Lender, the completion of which the Agent shall promptly notify to the Existing Lender and the New Lender. 



 

	 	(b)	 A transfer will only be effective if the procedure set out in Clause 24.6 (Procedure for transfer) is
complied with. 



  
 55 














	 	(c)	 If: 


  

	 	(i)	 a Lender assigns or transfers any of its rights or obligations under the Finance Documents or changes its
Facility Office; and 


  

	 	(ii)	 as a result of circumstances existing at the date the assignment, transfer or change occurs, an Obligor
would be obliged to make a payment to the New Lender or Lender acting through its new Facility Office under Clause 14 (Tax Gross-Up and Indemnities) or Clause 15 (Increased Costs),



 then the New Lender or Lender acting through its new Facility Office is only entitled to receive payment
under those Clauses to the same extent as the Existing Lender or Lender acting through its previous Facility Office would have been if the assignment, transfer or change had not occurred. This Clause 24.3(c) shall not apply in relation to Clause
14.2 (Tax gross-up), to a Treaty Lender that has included a confirmation of its scheme reference number and its jurisdiction of tax residence in accordance with Clause 14.2 (Tax gross-up) if the Obligor making the payment has not made a UK Borrower DTTP Filing in respect of that Treaty Lender. 
  

	 	(d)	 Each New Lender, by executing the relevant Transfer Certificate or Assignment Agreement, confirms, for the
avoidance of doubt, that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the
transfer or assignment becomes effective in accordance with this Agreement and that it is bound by that decision to the same extent as the Existing Lender would have been had it remained a Lender. 



 

	 	(e)	 Any assignment or transfer of part of the Existing Lender’s rights and/or obligations must be a minimum
of £25,000,000 and must not result in the Existing Lender retaining less than £25,000,000 in aggregate, unless it retains zero. 


  

	24.4	 Assignment or transfer fee 



The New Lender shall, on the date upon which an assignment or transfer takes effect, pay to the Agent (for its own account) a
fee of £2,500. 
  

	24.5	 Limitation of responsibility of Existing Lenders 



 

	 	(a)	 Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes
no responsibility to a New Lender for: 


  

	 	(i)	 the legality, validity, effectiveness, adequacy or enforceability of the Finance Documents or any other
documents; 


  

	 	(ii)	 the financial condition of any Obligor; 



 

	 	(iii)	 the performance and observance by any Obligor of its obligations under the Finance Documents or any other
documents; or 


  

	 	(iv)	 the accuracy of any statements (whether written or oral) made in or in connection with any Finance Document
or any other document, 


 and any representations or warranties implied by law are excluded. 

 

	 	(b)	 Each New Lender confirms to the Existing Lender and the other Finance Parties that it:



  

	 	(i)	 has made (and shall continue to make) its own independent investigation and assessment of the financial
condition and affairs of each Obligor and its related entities in connection with its participation in this Agreement and has not relied exclusively on any information provided to it by the Existing Lender in connection with any Finance Document;
and 



  
 56 














	 	(ii)	 will continue to make its own independent appraisal of the creditworthiness of each Obligor and its related
entities whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force. 


  

	 	(c)	 Nothing in any Finance Document obliges an Existing Lender to: 



 

	 	(i)	 accept a re-transfer or
re-assignment from a New Lender of any of the rights and obligations assigned or transferred under this Clause 24; or 


  


	 	(ii)	 support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by any Obligor of its obligations under the Finance Documents or otherwise. 


  

	24.6	 Procedure for transfer 



 

	 	(a)	 Subject to the conditions set out in Clause 24.2 (Designated Borrower’s consent) and Clause 24.3
(Other conditions of assignment or transfer) a transfer is effected in accordance with paragraph (c) below when the Agent executes an otherwise duly completed Transfer Certificate delivered to it by the Existing Lender and the New
Lender. The Agent shall, subject to paragraph (b) below, as soon as reasonably practicable after receipt by it of a duly completed Transfer Certificate appearing on its face to comply with the terms of this Agreement and delivered in accordance
with the terms of this Agreement, execute that Transfer Certificate. 


  

	 	(b)	 The Agent shall only be obliged to execute a Transfer Certificate delivered to it by the Existing Lender and
the New Lender once it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the transfer to such New Lender. 



 

	 	(c)	 Subject to Clause 24.10 (Pro rata interest settlement), on the Transfer Date: 



 

	 	(i)	 to the extent that in the Transfer Certificate the Existing Lender seeks to transfer by novation its rights
and obligations under the Finance Documents each of the Obligors and the Existing Lender shall be released from further obligations towards one another under the Finance Documents and their respective rights against one another under the Finance
Documents shall be cancelled (being the “Discharged Rights and Obligations”); 


  

	 	(ii)	 each of the Obligors and the New Lender shall assume obligations towards one another and/or acquire rights
against one another which differ from the Discharged Rights and Obligations only insofar as that Obligor and the New Lender have assumed and/or acquired the same in place of that Obligor and the Existing Lender; 



 

	 	(iii)	 the Agent, each Arranger, the Coordinator, the New Lender and other Lenders shall acquire the same rights
and assume the same obligations between themselves as they would have acquired and assumed had the New Lender been an Original Lender with the rights and/or obligations acquired or assumed by it as a result of the transfer and to that extent the
Agent, each Arranger, the Coordinator and the Existing Lender shall each be released from further obligations to each other under the Finance Documents; and 


  

	 	(iv)	 the New Lender shall become a Party as a “Lender”. 



 

	24.7	 Procedure for assignment 



 

	 	(a)	 Subject to the conditions set out in Clause 24.2 (Designated Borrower’s consent) and Clause 24.3
(Other conditions of assignment or transfer) an assignment may be effected in accordance with paragraph (c) below when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the




  
 57 














	 	 
New Lender. The Agent shall, subject to paragraph (b) below, as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply
with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 


  

	 	(b)	 The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender
and the New Lender once it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assignment to such New Lender. 



 

	 	(c)	 Subject to Clause 24.10 (Pro rata interest settlement), on the Transfer Date: 



 

	 	(i)	 the Existing Lender will assign absolutely to the New Lender the rights under the Finance Documents
expressed to be the subject of the assignment in the Assignment Agreement; 


  

	 	(ii)	 the Existing Lender will be released by each Obligor and the other Finance Parties from the obligations owed
by it (the “Relevant Obligations”) and expressed to be the subject of the release in the Assignment Agreement; and 


  

	 	(iii)	 the New Lender shall become a Party as a “Lender” and will be bound by obligations equivalent to
the Relevant Obligations. 


  

	 	(d)	 Lenders may utilise procedures other than those set out in this Clause 24.7 to assign their rights under the
Finance Documents (but not, without the consent of the relevant Obligor or unless in accordance with Clause 24.6 (Procedure for transfer), to obtain a release by that Obligor from the obligations owed to that Obligor by the Lenders nor the
assumption of equivalent obligations by a New Lender) provided that they comply with the conditions set out in Clause 24.2 (Designated Borrower’s consent) and Clause 24.3 (Other conditions of assignment or transfer).



  

	24.8	 Copy of Transfer Certificate, Assignment Agreement or Increase Confirmation to the Borrowers



  

	 	(a)	 Subject to paragraph (b) below, the Agent shall, as soon as reasonably practicable after it has
executed a Transfer Certificate, an Assignment Agreement or an Increase Confirmation, send to the Designated Borrower a copy of that Transfer Certificate, Assignment Agreement or Increase Confirmation. 



 

	 	(b)	 Where any New Lender or Increase Lender has included, in the Transfer Certificate, Assignment Agreement or
Increase Confirmation (as applicable), a confirmation of its scheme reference number and its jurisdiction of tax residence in accordance with Clause 14.2(f)(ii)(B), the Agent shall, within ten days of the Transfer Date or Increase Date (as
applicable), send to the Designated Borrower a copy of that Transfer Certificate, Assignment Agreement or Increase Confirmation. 


  

	24.9	 Security over Lenders’ rights 



In addition to the other rights provided to Lenders under this Clause 24, each Lender may without consulting with or obtaining
consent from any Obligor, at any time charge, assign or otherwise create Security in or over (whether by way of collateral or otherwise) all or any of its rights under any Finance Document to secure obligations of that Lender including, without
limitation: 
  

	 	(a)	 any charge, assignment or other Security to secure obligations to a federal reserve or central bank; and



  

	 	(b)	 any charge, assignment or other Security granted to any holders (or trustee or representatives of holders)
of obligations owed, or securities issued, by that Lender as security for those obligations or securities, 



  
 58 













 except that no such charge, assignment or Security shall: 

 

	 	(i)	 release a Lender from any of its obligations under the Finance Documents or substitute the beneficiary of
the relevant charge, assignment or Security for the Lender as a party to any of the Finance Documents; or 


  

	 	(ii)	 require any payments to be made by an Obligor other than or in excess of, or grant to any person any more
extensive rights than, those required to be made or granted to the relevant Lender under the Finance Documents. 


  

	24.10	 Pro rata interest settlement 



 

	 	(a)	 If the Agent is able to distribute interest payments on a “pro rata basis” to Existing Lenders and
New Lenders then (in respect of any transfer pursuant to Clause 24.6 (Procedure for transfer) or any assignment pursuant to Clause 24.7 (Procedure for assignment) the Transfer Date of which, in each case, is not on the last day of an
Interest Period): 


  

	 	(i)	 any interest or fees in respect of the relevant participation which are expressed to accrue by reference to
the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on
them) on the last day of the current Interest Period; and 


  

	 	(ii)	 the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts,
so that, for the avoidance of doubt: 


  

	 	(A)	 when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and



  

	 	(B)	 the amount payable to the New Lender on that date will be the amount which would, but for the application of
this Clause 24.10, have been payable to it on that date, but after deduction of the Accrued Amounts. 


  

	 	(b)	 In this Clause 24.10 references to “Interest Period” shall be construed to include a reference to
any other period for accrual of fees. 


  

	 	(c)	 An Existing Lender which retains the right to the Accrued Amounts pursuant to this Clause 24.10 but which
does not have a Commitment shall be deemed not to be a Lender for the purposes of ascertaining whether the agreement of any specified group of Lenders has been obtained to approve any request for a consent, waiver, amendment or other vote of Lenders
under the Finance Documents. 


  

	25.	 CHANGES TO THE OBLIGORS 



 

	25.1	 Assignments and transfers by the Borrowers 



A Borrower shall not be entitled to assign or transfer all or any of its rights, benefits or obligations hereunder except to a
Holding Company of that Borrower, or a Subsidiary of that Borrower or of such Holding Company (but excluding, in each case, its obligations as a Guarantor), provided that before any such assignment or transfer takes effect: 

 

	 	(a)	 that Borrower has provided an unconditional and irrevocable guarantee which is in form and substance
satisfactory to the Agent of the performance by the assignee or the transferee of its obligations hereunder; 


  

	 	(b)	 the jurisdiction of incorporation of the new Borrower is the same jurisdiction of incorporation as an
existing Borrower or is otherwise acceptable to all the Lenders; 



  
 59 














	 	(c)	 the Agent and each Lender has completed all required “know-your-customer” checks in respect of the
new Borrower to its satisfaction; and 


  

	 	(d)	 the Agent has notified the Designated Borrower and the Lenders that it has received all the documents listed
in Part II of Schedule 2 (Conditions Precedent) in relation to the new Borrower, each in form and substance satisfactory to it. 


  

	25.2	 Notice of assignment or transfer 



A Borrower shall provide not less than 10 Business Days’ prior written notice to the Agent of any proposed assignment or
transfer by it of its rights, benefits and/or obligations to a new Borrower, and acknowledges that the Lenders may need to assign or transfer its rights, benefits and/or obligations under this Agreement to an affiliate of such Lender (that is a
Qualifying Lender) in order to provide the Facility to such new Borrower. For the avoidance of doubt, any such assignment or transfer by a Lender to an affiliate of such Lender being a Qualifying Lender shall not require the prior consent of the
Designated Borrower. 
  

	25.3	 Assignments and transfers by the Guarantors 



No Guarantor may assign any of its rights or transfer any of its rights or obligations under the Finance Documents except as
otherwise permitted under this Agreement. 
  

	25.4	 Additional Borrowers 



 

	 	(a)	 If the Designated Borrower wishes a Group Company to become an Additional Borrower, then it shall (after
prior consultation with the Agent) deliver to the Agent the documents listed in Part II of Schedule 2 (Conditions Precedent) provided that no Group Company shall be permitted to become an Additional Borrower until after the accession of the
CH Topco as an Additional Guarantor in accordance with Clause 22.9 (Condition Subsequent). 


  

	 	(b)	 In the case of an Additional Borrower, if the Group Company is incorporated in a jurisdiction other than
England and Wales, the prior consent of all the Lenders to that Group Company becoming an Additional Borrower is required. 


  

	 	(c)	 On the later of: 


  


	 	(i)	 delivery of an Accession Agreement, executed by the relevant Group Company and the Designated Borrower; and



  

	 	(ii)	 notification by the Agent to the Designated Borrower and the Lenders that it has received all the documents
referred to in paragraph (a) above in form and substance satisfactory to the Agent, 


 the Group
Company concerned will become an Additional Borrower. The Agent shall promptly send the notification referred to in sub-paragraph (ii) above on being satisfied it has received all the relevant documents.

  

	 	(d)	 Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the
Agent gives the notification described in paragraph (c) above, the Lenders authorise (but do not require) the Agent to give that notification. The Agent shall not be liable for any damages, costs, or losses whatsoever as a result of giving any
such notification. 


  

	 	(e)	 Delivery of an Accession Agreement, executed by the Group Company and the Designated Borrower, constitutes
confirmation by that Group Company that the representations and warranties set out in Clause 19 (Representations) and to be made by it as the Additional Borrower on the date of the Accession Agreement are true, as if made with reference to
the facts and circumstances then existing. 



  
 60 














	 	(f)	 If a Lender withholds its consent under paragraph (b) above, then the Borrowers may exercise the right
of prepayment and cancellation set out in Clause 7.4 (Right of replacement or repayment and cancellation in relation to a single Lender). 


  

	25.5	 Additional Guarantors 



 

	 	(a)	 If the Designated Borrower wishes a Group Company to become an Additional Guarantor, then it shall (after
prior consultation with the Agent) deliver to the Agent the documents listed in Part II of Schedule 2 (Conditions Precedent). 


  

	 	(b)	 On the later of: 


  


	 	(i)	 delivery of an Accession Agreement, executed by the relevant Group Company and the Designated Borrower; and



  

	 	(ii)	 notification by the Agent to the Designated Borrower and the Lenders that it has received all the documents
referred to in paragraph (a) above in form and substance satisfactory to the Agent, 


 the Group
Company concerned will become an Additional Guarantor. The Agent shall promptly send the notification referred to in sub-paragraph (b)(ii) above on being satisfied it has received all the relevant documents.

  

	 	(c)	 Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the
Agent gives the notification described in paragraph (b)(ii) above, the Lenders authorise (but do not require) the Agent to give that notification. The Agent shall not be liable for any damages, costs, or losses whatsoever as a result of giving any
such notification. 


  

	 	(d)	 Delivery of an Accession Agreement, executed by the Group Company and the Designated Borrower, constitutes
confirmation by that Group Company that the representations and warranties set out in Clause 19 (Representations) and to be made by it as the Additional Guarantor on the date of the Accession Agreement are true, as if made with reference to
the facts and circumstances then existing. 



  
 61 













 SECTION 10 

THE FINANCE PARTIES 
  

	26.	 ROLE OF THE AGENT, THE ARRANGERS AND THE COORDINATOR 



 

	26.1	 Appointment of the Agent 



 

	 	(a)	 Each of the Arrangers and the Lenders appoints the Agent to act as its agent under and in connection with
the Finance Documents. 


  

	 	(b)	 Each of the Arrangers and the Lenders authorises the Agent to perform the duties, obligations and
responsibilities and to exercise the rights, powers, authorities and discretions specifically given to the Agent under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions.



  

	26.2	 Instructions 



 

	 	(a)	 The Agent shall: 


  


	 	(i)	 unless a contrary indication appears in a Finance Document, exercise or refrain from exercising any right,
power, authority or discretion vested in it as Agent in accordance with any instructions given to it by: 


  

	 	(A)	 all Lenders if the relevant Finance Document stipulates the matter is an all Lender decision; and



  

	 	(B)	 in all other cases, the Majority Lenders; and 



 

	 	(ii)	 not be liable for any act (or omission) if it acts (or refrains from acting) in accordance with paragraph
(i) above. 


  

	 	(b)	 The Agent shall be entitled to request instructions, or clarification of any instruction, from the Majority
Lenders (or, if the relevant Finance Document stipulates the matter is a decision for any other Lender or group of Lenders, from that Lender or group of Lenders) as to whether, and in what manner, it should exercise or refrain from exercising any
right, power, authority or discretion. The Agent may refrain from acting unless and until it receives any such instructions or clarification that it has requested. 



 

	 	(c)	 Save in the case of decisions stipulated to be a matter for any other Lender or group of Lenders under the
relevant Finance Document and unless a contrary indication appears in a Finance Document, any instructions given to the Agent by the Majority Lenders shall override any conflicting instructions given by any other Parties and will be binding on all
Finance Parties. 


  

	 	(d)	 The Agent may refrain from acting in accordance with any instructions of any Lender or group of Lenders
until it has received any indemnification and/or security that it may in its discretion require (which may be greater in extent than that contained in the Finance Documents and which may include payment in advance) for any cost, loss or liability
which it may incur in complying with those instructions. 


  

	 	(e)	 In the absence of instructions, the Agent may act (or refrain from acting) as it considers to be in the best
interest of the Lenders. 


  

	 	(f)	 The Agent is not authorised to act on behalf of a Lender (without first obtaining that Lender’s
consent) in any legal or arbitration proceedings relating to any Finance Document. 



  
 62 














	26.3	 Duties of the Agent 



 

	 	(a)	 The Agent’s duties under the Finance Documents are solely mechanical and administrative in nature.



  

	 	(b)	 Subject to paragraph (c) below, the Agent shall promptly forward to a Party the original or a copy of
any document which is delivered to the Agent for that Party by any other Party. 


  

	 	(c)	 Without prejudice to Clause 24.8 (Copy of Transfer Certificate, Assignment Agreement or Increase
Confirmation to the Borrowers), paragraph (b) above shall not apply to any Transfer Certificate, any Assignment Agreement or any Increase Confirmation. 



 

	 	(d)	 Except where a Finance Document specifically provides otherwise, the Agent is not obliged to review or check
the adequacy, accuracy or completeness of any document it forwards to another Party. 


  

	 	(e)	 If the Agent receives notice from a Party referring to this Agreement, describing a Default and stating that
the circumstance described is a Default, it shall promptly notify the other Finance Parties. 


  

	 	(f)	 If the Agent is aware of the non-payment of any principal, interest,
commitment fee or other fee payable to a Finance Party (other than the Agent, each Arranger or the Coordinator) under this Agreement it shall promptly notify the other Finance Parties. 



 

	 	(g)	 The Agent, as an agent of each Obligor for the purpose of this paragraph (g) only and no other
provision of this Agreement or any other Finance Document, shall maintain at one of its offices a copy of each transfer effected pursuant to Clause 24 (Changes to the Lenders) and a register for the recordation of the names and Facility
Offices of the Lenders, and the Commitment of, and principal amount (and stated interest) of the Loans owing to, each Lender pursuant to the terms of this Agreement from time to time (the “Register”). The entries in the Register
shall be conclusive absent manifest error, and the Obligors, the Agent and the Lenders shall treat each person whose name is recorded in the Register pursuant to the terms hereof as a lender hereunder for all purposes of this Agreement,
notwithstanding notice to the contrary. The Agent shall provide to the Designated Borrower within two Business Days of a request by the Designated Borrower (at any reasonable time, but no more frequently than once per calendar month), a copy of the
Register (which may be in electronic form). 


  

	 	(h)	 The Agent shall have only those duties, obligations and responsibilities expressly specified in the Finance
Documents to which it is expressed to be a party (and no others shall be implied). 


  

	26.4	 Role of the Arrangers and the Coordinator 



Except as specifically provided in the Finance Documents, neither the Arrangers nor the Coordinator has any obligations of any
kind to any other Party under or in connection with any Finance Document. 
  

	26.5	 No fiduciary duties 



 

	 	(a)	 Nothing in any Finance Document constitutes the Agent, any Arranger nor the Coordinator as a trustee or
fiduciary of any other person except, for the avoidance of doubt, as otherwise provided in paragraph (g) of Clause 26.3 above. 


  

	 	(b)	 Neither the Agent, any Arranger nor the Coordinator shall be bound to account to any Lender for any sum or
the profit element of any sum received by it for its own account. 



  
 63 














	26.6	 Business with the Group 



The Agent, each Arranger and the Coordinator may accept deposits from, lend money to and generally engage in any kind of
banking or other business with any Group Company. 
  

	26.7	 Rights and discretions 



 

	 	(a)	 The Agent may: 


  

	 	(i)	 rely on any representation, communication, notice or document believed by it to be genuine, correct and
appropriately authorised; 


  

	 	(ii)	 assume that: 


  

	 	(A)	 any instructions received by it from the Majority Lenders, any Lenders or any group of Lenders are duly
given in accordance with the terms of the Finance Documents; and 


  

	 	(B)	 unless it has received notice of revocation, that those instructions have not been revoked; and



  

	 	(iii)	 rely on a certificate from any person: 



 

	 	(A)	 as to any matter of fact or circumstance which might reasonably be expected to be within the knowledge of
that person; or 


  

	 	(B)	 to the effect that such person approves of any particular dealing, transaction, step, action or thing,



 as sufficient evidence that that is the case and, in the case of paragraph (A) above, may assume
the truth and accuracy of that certificate. 
  

	 	(b)	 The Agent may assume (unless it has received notice to the contrary in its capacity as agent for the
Lenders) that: 


  

	 	(i)	 no Default has occurred (unless it has actual knowledge of a Default arising under Clause 23.1 (Non-payment)); 


  

	 	(ii)	 any right, power, authority or discretion vested in any Party or any group of Lenders has not been
exercised; and 


  

	 	(iii)	 any notice or request made by a Borrower (other than a Utilisation Request or Selection Notice) is made on
behalf of and with the consent and knowledge of all the Obligors. 


  

	 	(c)	 The Agent may engage and pay for the advice or services of any lawyers, accountants, tax advisers, surveyors
or other professional advisers or experts if the Agent in its reasonable opinion deems this to be necessary. 


  

	 	(d)	 Without prejudice to the generality of paragraph (c) above or paragraph (e) below, the Agent may
at any time engage and pay for the services of any lawyers to act as independent counsel to the Agent (and so separate from any lawyers instructed by the Lenders) if the Agent in its reasonable opinion deems this to be necessary.



  

	 	(e)	 The Agent may rely on the advice or services of any lawyers, accountants, tax advisers, surveyors or other
professional advisers or experts (whether obtained by the Agent or by any other Party) and shall not be liable for any damages, costs or losses to any person, any diminution in value or any liability whatsoever arising as a result of its so relying.




  
 64 














	 	(f)	 The Agent may act in relation to the Finance Documents through its officers, employees and agents.



  

	 	(g)	 Unless a Finance Document expressly provides otherwise the Agent may disclose to any other Party any
information it reasonably believes it has received as agent under this Agreement. 


  

	 	(h)	 Without prejudice to the generality of paragraph (g) above, the Agent: 



 

	 	(i)	 may disclose; and 



 

	 	(ii)	 on the written request of the Designated Borrower or the Majority Lenders shall, as soon as reasonably
practicable, disclose, 


 the identity of a Defaulting Lender to the Designated Borrower and to the other
Finance Parties. 
  

	 	(i)	 Notwithstanding any other provision of any Finance Document to the contrary, neither the Agent, any Arranger
nor the Coordinator is obliged to do or omit to do anything if it would, or might in its reasonable opinion, constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality. 



 

	 	(j)	 Notwithstanding any provision of any Finance Document to the contrary, the Agent is not obliged to expend or
risk its own funds or otherwise incur any financial liability in the performance of its duties, obligations or responsibilities or the exercise of any right, power, authority or discretion if it has grounds for believing the repayment of such funds
or adequate indemnity against, or security for, such risk or liability is not reasonably assured to it. 


  

	26.8	 Responsibility for documentation 



Neither the Agent, any Arranger nor the Coordinator is responsible or liable for: 

 

	 	(a)	 the adequacy, accuracy or completeness of any information (whether oral or written) supplied by the Agent,
any Arranger, the Coordinator, an Obligor or any other person in or in connection with any Demerger Documents, the Information Package, any Finance Document or the transactions contemplated in the Finance Documents or any other agreement,
arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; 


  

	 	(b)	 the legality, validity, effectiveness, adequacy or enforceability of any Finance Document or any other
agreement, arrangement or document entered into, made or executed in anticipation of, or under, or in connection with any Finance Document; or 


  

	 	(c)	 any determination as to whether any information provided or to be provided to any Finance Party is non-public information the use of which may be regulated or prohibited by applicable law or regulation relating to insider dealing or otherwise. 



 

	26.9	 No duty to monitor 



The Agent shall not be bound to enquire: 
  

	 	(a)	 whether or not any Default has occurred; 



 

	 	(b)	 as to the performance, default or any breach by any Party of its obligations under any Finance Document; or



  

	 	(c)	 whether any other event specified in any Finance Document has occurred. 



  
 65 














	26.10	 Exclusion of liability 



 

	 	(a)	 Without limiting paragraph (b) below (and without prejudice to any other provision of any Finance
Document excluding or limiting the liability of the Agent), the Agent will not be liable for: 


  

	 	(i)	 any damages, costs or losses to any person, any diminution in value, or any liability whatsoever arising as
a result of taking or not taking any action under or in connection with any Finance Document, unless directly caused by its gross negligence or wilful misconduct; 



 

	 	(ii)	 exercising, or not exercising, any right, power, authority or discretion given to it by, or in connection
with, any Finance Document or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with, any Finance Document, other than by reason of its gross negligence or wilful misconduct; or



  

	 	(iii)	 without prejudice to the generality of paragraphs (i) and (ii) above, any damages, costs or losses to
any person, any diminution in value or any liability whatsoever (including, without limitation, for negligence or any other category of liability whatsoever but not including any claim based on the fraud of the Agent) arising as a result of:



  

	 	(A)	 any act, event or circumstance not reasonably within its control; or 



 

	 	(B)	 the general risks of investment in, or the holding of assets in, any jurisdiction, 



including (in each case and without limitation) such damages, costs, losses, diminution in value or liability arising as a
result of: nationalisation, expropriation or other governmental actions; any regulation, currency restriction, devaluation or fluctuation; market conditions affecting the execution or settlement of transactions or the value of assets (including any
Disruption Event); breakdown, failure or malfunction of any third party transport, telecommunications, computer services or systems; natural disasters or acts of God; war, terrorism, insurrection or revolution; or strikes or industrial action. 

 

	 	(b)	 No Party (other than the Agent) may take any proceedings against any officer, employee or agent of the Agent
in respect of any claim it might have against the Agent or in respect of any act or omission of any kind by that officer, employee or agent in relation to any Finance Document and any officer, employee or agent of the Agent may rely on this Clause.



  

	 	(c)	 The Agent will not be liable for any delay (or any related consequences) in crediting an account with an
amount required under the Finance Documents to be paid by the Agent if the Agent has taken all necessary steps as soon as reasonably practicable to comply with the regulations or operating procedures of any recognised clearing or settlement system
used by the Agent for that purpose. 


  

	 	(d)	 Nothing in this Agreement shall oblige the Agent, any Arranger or the Coordinator to carry out:



  

	 	(i)	 any “know your customer” or other checks in relation to any person; or 



 

	 	(ii)	 any check on the extent to which any transaction contemplated by this Agreement might be unlawful for any
Lender, 


 on behalf of any Lender and each Lender confirms to the Agent, each Arranger and the Coordinator
that it is solely responsible for any such checks it is required to carry out and that it may not rely on any statement in relation to such checks made by the Agent, any Arranger or the Coordinator. 

  
 66 














	 	(e)	 Without prejudice to any provision of any Finance Document excluding or limiting the Agent’s liability,
any liability of the Agent arising under or in connection with any Finance Document shall be limited to the amount of actual loss which has been suffered (as determined by reference to the date of default of the Agent or, if later, the date on which
the loss arises as a result of such default) but without reference to any special conditions or circumstances known to the Agent at any time which increase the amount of that loss. In no event shall the Agent be liable for any loss of profits,
goodwill, reputation, business opportunity or anticipated saving, or for special, punitive, indirect or consequential damages, whether or not the Agent has been advised of the possibility of such loss or damages. 



 

	26.11	 Lenders’ indemnity to the Agent 



Each Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share
of the Total Commitments immediately prior to their reduction to zero) indemnify the Agent, within three Business Days of demand, against any cost, loss or liability (including, without limitation, for negligence or any other category of liability
whatsoever) incurred by the Agent (otherwise than by reason of the Agent’s gross negligence or wilful misconduct) (or, in the case of any cost, loss or liability pursuant to Clause 29.11 (Disruption to payment systems etc.),
notwithstanding the Agent’s negligence, gross negligence or any other category of liability whatsoever but not including any claim based on the fraud of the Agent) in acting as Agent under the Finance Documents (unless the Agent has been
reimbursed by an Obligor pursuant to a Finance Document). 
  

	26.12	 Resignation of the Agent 



 

	 	(a)	 The Agent may resign and appoint one of its Affiliates acting through an office in the United Kingdom as
successor by giving notice to the Lenders and the Designated Borrower. 


  

	 	(b)	 Alternatively the Agent may resign by giving 30 days’ notice to the Lenders and the Designated
Borrower, in which case the Majority Lenders (after consultation with the Designated Borrower) may appoint a successor Agent. 


  

	 	(c)	 If the Majority Lenders have not appointed a successor Agent in accordance with paragraph (b) above
within 20 days after notice of resignation was given, the retiring Agent (after consultation with the Designated Borrower) may appoint a successor Agent (acting through an office in the United Kingdom). 



 

	 	(d)	 The retiring Agent shall, at its own cost, make available to the successor Agent such documents and records
and provide such assistance as the successor Agent may reasonably request for the purposes of performing its functions as Agent under the Finance Documents. 


  

	 	(e)	 The Agent’s resignation notice shall only take effect upon the appointment of a successor.



  

	 	(f)	 Upon the appointment of a successor, the retiring Agent shall be discharged from any further obligation in
respect of the Finance Documents (other than its obligations under paragraph (e) above) but shall remain entitled to the benefit of Clause 16.3 (Indemnity to the Agent) and this Clause 26 (and any agency fees for the account of the
retiring Agent shall cease to accrue from (and shall be payable on) that date). Any successor and each of the other Parties shall have the same rights and obligations amongst themselves as they would have had if such successor had been an original
Party. 



  
 67 














	 	(g)	 After consultation with the Designated Borrower, the Majority Lenders may, by notice to the Agent, require
it to resign in accordance with paragraph (b) above. In this event the Agent shall resign in accordance with paragraph (b) above. 


  

	 	(h)	 The Agent shall resign in accordance with paragraph (b) above (and, to the extent applicable, shall use
reasonable endeavours to appoint a successor Agent pursuant to paragraph (c) above) if on or after the date which is three months before the earliest FATCA Application Date relating to any payment to the Agent under the Finance Documents,
either: 


  

	 	(i)	 the Agent fails to respond to a request under Clause 14.6 (FATCA information) and the Designated
Borrower or a Lender reasonably believes that the Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date; 


  


	 	(ii)	 the information supplied by the Agent pursuant to Clause 14.6 (FATCA information) indicates that the
Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date; or 


  

	 	(iii)	 the Agent notifies the Designated Borrower and the Lenders that the Agent will not be (or will have ceased
to be) a FATCA Exempt Party on or after that FATCA Application Date; 


 and (in each case) the Designated
Borrower or a Lender reasonably believes that a Party will be required to make a FATCA Deduction that would not be required if the Agent were a FATCA Exempt Party, and the Designated Borrower or that Lender, by notice to the Agent, requires it to
resign. 
  

	26.13	 Replacement of the Agent 



 

	 	(a)	 After consultation with the Designated Borrower, the Majority Lenders may, by giving 30 days’ notice to
the Agent (or, at any time the Agent is an Impaired Agent, by giving any shorter notice determined by the Majority Lenders) replace the Agent by appointing a successor Agent (acting through an office in the United Kingdom). 



 

	 	(b)	 The retiring Agent shall (at its own cost if it is an Impaired Agent and otherwise at the expense of the
Lenders) make available to the successor Agent such documents and records and provide such assistance as the successor Agent may reasonably request for the purposes of performing its functions as Agent under the Finance Documents.



  

	 	(c)	 The appointment of the successor Agent shall take effect on the date specified in the notice from the
Majority Lenders to the retiring Agent. As from this date, the retiring Agent shall be discharged from any further obligation in respect of the Finance Documents (other than its obligations under paragraph (b) above) but shall remain entitled
to the benefit of Clause 16.3 (Indemnity to the Agent) and this Clause 26 (and any agency fees for the account of the retiring Agent shall cease to accrue from (and shall be payable on) that date). 



 

	 	(d)	 Any successor Agent and each of the other Parties shall have the same rights and obligations amongst
themselves as they would have had if such successor had been an original Party. 


  

	26.14	 Confidentiality 



 

	 	(a)	 In acting as agent for the Finance Parties, the Agent shall be regarded as acting through its agency
division which shall be treated as a separate entity from any other of its divisions or departments. 



  
 68 














	 	(b)	 If information is received by another division or department of the Agent, it may be treated as confidential
to that division or department and the Agent shall not be deemed to have notice of it. 


  

	26.15	 Relationship with the Lenders 



 

	 	(a)	 Subject to Clause 24.10 (Pro rata interest settlement), the Agent may treat the person shown in its
records as Lender at the opening of business (in the place of the Agent’s principal office as notified to the Finance Parties from time to time) as the Lender acting through its Facility Office: 



 

	 	(i)	 entitled to or liable for any payment due under any Finance Document on that day; and 



 

	 	(ii)	 entitled to receive and act upon any notice, request, document or communication or make any decision or
determination under any Finance Document made or delivered on that day, 


 unless it has received not less
than five Business Days’ prior notice from that Lender to the contrary in accordance with the terms of this Agreement. 
  

	 	(b)	 Any Lender may by notice to the Agent appoint a person to receive on its behalf all notices, communications,
information and documents to be made or despatched to that Lender under the Finance Documents. Such notice shall contain the address and (where communication by electronic mail or other electronic means is permitted under Clause 31.6 (Electronic
communication) electronic mail address and/or any other information required to enable the transmission of information by that means (and, in each case, the department or officer, if any, for whose attention communication is to be made) and be
treated as a notification of a substitute address, electronic mail address (or such other information), department and officer by that Lender for the purposes of Clause 31.2 (Addresses) and paragraph (a)(ii) of Clause 31.6 (Electronic
communication) and the Agent shall be entitled to treat such person as the person entitled to receive all such notices, communications, information and documents as though that person were that Lender. 



 

	26.16	 Credit appraisal by the Lenders 



Without affecting the responsibility of any Obligor for information supplied by it or on its behalf in connection with any
Finance Document, each Lender confirms to the Agent, each Arranger and the Coordinator that it has been, and will continue to be, solely responsible for making its own independent appraisal and investigation of all risks arising under or in
connection with any Finance Document including but not limited to: 
  

	 	(a)	 the financial condition, status and nature of each Group Company; 



 

	 	(b)	 the legality, validity, effectiveness, adequacy or enforceability of any Finance Document and any other
agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; 


  

	 	(c)	 whether that Lender has recourse, and the nature and extent of that recourse, against any Party or any of
its respective assets under or in connection with any Finance Document, the transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection
with any Finance Document; and 


  

	 	(d)	 the adequacy, accuracy or completeness of the Finance Documents and any other information provided by the
Agent, any Party or by any other person under or in connection with any Finance Document, the transactions contemplated by any Finance Document or any other agreement, arrangement or document entered into, made or executed in anticipation of, under
or in connection with any Finance Document. 



  
 69 














	26.17	 Deduction from amounts payable by the Agent 



If any Party owes an amount to the Agent under the Finance Documents the Agent may, after giving notice to that Party, deduct
an amount not exceeding that amount from any payment to that Party which the Agent would otherwise be obliged to make under the Finance Documents and apply the amount deducted in or towards satisfaction of the amount owed. For the purposes of the
Finance Documents that Party shall be regarded as having received any amount so deducted. 
  

	27.	 CONDUCT OF BUSINESS BY THE FINANCE PARTIES 



No provision of this Agreement will: 
  

	 	(a)	 interfere with the right of any Finance Party to arrange its affairs (tax or otherwise) in whatever manner
it thinks fit; 


  

	 	(b)	 oblige any Finance Party to investigate or claim any credit, relief, remission or repayment available to it
or the extent, order and manner of any claim; or 


  

	 	(c)	 oblige any Finance Party to disclose any information relating to its affairs (tax or otherwise) or any
computations in respect of Tax. 


  

	28.	 SHARING AMONG THE FINANCE PARTIES 



 

	28.1	 Payments to Finance Parties  



If a Finance Party (a “Recovering Finance Party”) receives or recovers any amount from an Obligor other than
in accordance with Clause 29 (Payment Mechanics) (a “Recovered Amount”) and applies that amount to a payment due under the Finance Documents then: 

 

	 	(a)	 the Recovering Finance Party shall, within three Business Days, notify details of the receipt or recovery to
the Agent; 


  

	 	(b)	 the Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Finance
Party would have been paid had the receipt or recovery been received or made by the Agent and distributed in accordance with Clause 29 (Payment Mechanics), without taking account of any Tax which would be imposed on the Agent in relation to
the receipt, recovery or distribution; and 


  

	 	(c)	 the Recovering Finance Party shall, within three Business Days of demand by the Agent, pay to the Agent an
amount (the “Sharing Payment”) equal to such receipt or recovery less any amount which the Agent determines may be retained by the Recovering Finance Party as its share of any payment to be made, in accordance with Clause 29.6
(Partial Payments). 


  

	28.2	 Redistribution of payments 



The Agent shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Finance
Parties (other than the Recovering Finance Party) (the “Sharing Finance Parties”) in accordance with Clause 29.6 (Partial Payments) towards the obligations of that Obligor to the Sharing Finance Parties. 

 

	28.3	 Recovering Finance Party’s rights 



On a distribution by the Agent under Clause 28.2 (Redistribution of payments) of a payment received by a Recovering
Finance Party from an Obligor, as between the relevant Obligor and the Recovering Finance Party, an amount of the Recovered Amount equal to the Sharing Payment will be treated as not having been paid by that Obligor. 

  
 70 














	28.4	 Reversal of redistribution 



If any part of the Sharing Payment received or recovered by a Recovering Finance Party becomes repayable and is repaid by that
Recovering Finance Party, then: 
  

	 	(a)	 each Sharing Finance Party shall, upon request of the Agent, pay to the Agent for the account of that
Recovering Finance Party an amount equal to the appropriate part of its share of the Sharing Payment (together with an amount as is necessary to reimburse that Recovering Finance Party for its proportion of any interest on the Sharing Payment which
that Recovering Finance Party is required to pay) (the “Redistributed Amount”); and 


  

	 	(b)	 as between the relevant Obligor and each relevant Sharing Finance Party, an amount equal to the relevant
Redistributed Amount will be treated as not having been paid by that Obligor. 


  

	28.5	 Exceptions 



 

	 	(a)	 This Clause 28.5 shall not apply to the extent that the Recovering Finance Party would not, after making any
payment pursuant to this Clause, have a valid and enforceable claim against the relevant Obligor. 


  

	 	(b)	 A Recovering Finance Party is not obliged to share with any other Finance Party any amount which the
Recovering Finance Party has received or recovered as a result of taking legal or arbitration proceedings, if: 


  

	 	(i)	 it notified that other Finance Party of the legal or arbitration proceedings; and 



 

	 	(ii)	 that other Finance Party had an opportunity to participate in those legal or arbitration proceedings but did
not do so as soon as reasonably practicable having received notice and did not take separate legal or arbitration proceedings. 



  
 71 













 SECTION 11 

ADMINISTRATION 
  

	29.	 PAYMENT MECHANICS 



 

	29.1	 Payments to the Agent 



 

	 	(a)	 On each date on which an Obligor or a Lender is required to make a payment under a Finance Document, that
Obligor or Lender shall make the same available to the Agent (unless a contrary indication appears in a Finance Document) for value on the due date at the time and in such funds specified by the Agent as being customary at the time for settlement of
transactions in the relevant currency in the place of payment. 


  

	 	(b)	 Payment shall be made to such account in the principal financial centre of the country of that currency and
with such bank as the Agent, in each case, specifies. 


  

	 	(c)	 If, at any time, it shall become impracticable (by reason of any action of any governmental authority or any
change in law, exchange control regulations or any similar event) for an Obligor to make any payments under the Finance Documents in the manner specified in paragraph (a) or (b) above, then the Obligor may agree with the Agent alternative
arrangements for the payment direct to the Agent of amounts due to the Agent or Lenders under the Finance Documents provided that, in the absence of any such agreement with the Agent, the Obligors shall be obliged to make all payments due to the
Agent in the manner specified herein. 


  

	29.2	 Distributions by the Agent 



Each payment received by the Agent under the Finance Documents for another Party shall, subject to Clause 29.3
(Distributions to any Obligors) and Clause 29.4 (Clawback and pre-funding) be made available by the Agent as soon as practicable after receipt to the Party entitled to receive payment in
accordance with this Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Agent by not less than five Business Days’ notice with a bank specified by that Party in the
principal financial centre of the country of that currency. 
  

	29.3	 Distributions to any Obligors 



The Agent may (with the consent of the Obligors or in accordance with Clause 30
(Set-Off)) apply any amount received by it for an Obligor in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Finance Documents or
in or towards purchase of any amount of any currency to be so applied. 
  

	29.4	 Clawback and pre-funding 



 

	 	(a)	 Where a sum is to be paid to the Agent under the Finance Documents for another Party, the Agent is not
obliged to pay that sum to that other Party (or to enter into or perform any related exchange contract) until it has been able to establish to its satisfaction that it has actually received that sum. 



 

	 	(b)	 Unless paragraph (c) below applies, if the Agent pays an amount to another Party and it proves to be
the case that the Agent had not actually received that amount, then the Party to whom that amount (or the proceeds of any related exchange contract) was paid by the Agent shall on demand refund the same to the Agent together with interest on that
amount from the date of payment to the date of receipt by the Agent, calculated by the Agent to reflect its cost of funds. 


  

	 	(c)	 If the Agent has notified the Lenders that it is willing to make available amounts for the account of a
Borrower before receiving funds from the Lenders then if and to the extent that the Agent does so but it proves to be the case that it does not then receive funds from a Lender in respect of a sum which it paid to a Borrower: 



 

	 	(i)	 the Agent shall notify that Borrower of that Lender’s identity and the Borrower to whom that sum was
made available shall on demand refund it to the Agent; and 



  
 72 














	 	(ii)	 the Lender by whom those funds should have been made available or, if that Lender fails to do so, the
Borrower to whom that sum was made available, shall on demand pay to the Agent the amount (as certified by the Agent) which will indemnify the Agent against any funding cost incurred by it as a result of paying out that sum before receiving those
funds from that Lender. 


  

	29.5	 Impaired Agent 



 

	 	(a)	 If, at any time, the Agent becomes an Impaired Agent, an Obligor or a Lender which is required to make a
payment under the Finance Documents to the Agent in accordance with Clause 29.1 (Payments to the Agent) may instead either: 


  

	 	(i)	 pay that amount direct to the required recipient(s); or 



 

	 	(ii)	 if in its absolute discretion it considers that it is not reasonably practicable to pay that amount direct
to the required recipient(s), pay that amount or the relevant part of that amount to an interest-bearing account held with an Acceptable Bank and in relation to which no Insolvency Event has occurred and is continuing, in the name of an Obligor or
the Lender making the payment (the “Paying Party”) and designated as a trust account for the benefit of the Party or Parties beneficially entitled to that payment under the Finance Documents (the “Recipient Party”
or “Recipient Parties”). In each case such payments must be made on the due date for payment under the Finance Documents. 


  

	 	(b)	 All interest accrued on the amount standing to the credit of the trust account shall be for the benefit of
the Recipient Party or the Recipient Parties pro rata to their respective entitlements. 


  

	 	(c)	 A Party which has made a payment in accordance with this Clause 29.5 shall be discharged of the relevant
payment obligation under the Finance Documents and shall not take any credit risk with respect to the amounts standing to the credit of the trust account. 


  

	 	(d)	 Promptly upon the appointment of a successor Agent in accordance with Clause 26.13 (Replacement of the
Agent), each Paying Party shall (other than to the extent that that Party has given an instruction pursuant to paragraph (e) below) give all requisite instructions to the bank with whom the trust account is held to transfer the amount
(together with any accrued interest) to the successor Agent for distribution to the relevant Recipient Party or Recipient Parties in accordance with Clause 29.2 (Distributions by the Agent). 



 

	 	(e)	 A Paying Party shall, promptly upon request by a Recipient Party and to the extent: 



 

	 	(i)	 that it has not given an instruction pursuant to paragraph (d) above; and 



 

	 	(ii)	 that it has been provided with the necessary information by that Recipient Party, 



give all requisite instructions to the bank with whom the trust account is held to transfer the relevant amount (together with
any accrued interest) to that Recipient Party. 

  
 73 














	29.6	 Partial Payments 



 

	 	(a)	 If the Agent receives a payment that is insufficient to discharge all the amounts then due and payable by an
Obligor under the Finance Documents, the Agent shall apply that payment towards the obligations of that Obligor under the Finance Documents in the following order: 



 

	 	(i)	 first, in or towards payment of any unpaid amount owing to the Agent under the Finance Documents;



  

	 	(ii)	 secondly, in or towards payment pro rata of any accrued interest, fee or commission due but
unpaid under the Finance Documents; 


  

	 	(iii)	 thirdly, in or towards payment pro rata of any principal due but unpaid under the Finance
Documents; and 


  

	 	(iv)	 fourthly, in or towards payment pro rata of any other sum due but unpaid under the Finance
Documents. 


  

	 	(b)	 The Agent shall, if so directed by the Majority Lenders, vary the order set out in paragraphs (a)(ii) to
(a)(iv) above. 


  

	 	(c)	 Paragraphs (a) and (b) above will override any appropriation made by an Obligor. 



 

	29.7	 No set-off by the Obligors 



All payments to be made by an Obligor under the Finance Documents shall be calculated and be made without (and free and clear
of any deduction for) set-off or counterclaim. 
  

	29.8	 Business Days 



 

	 	(a)	 Any payment under the Finance Documents which is due to be made on a day that is not a Business Day shall be
made on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not). 


  

	 	(b)	 During any extension of the due date for payment of any principal or Unpaid Sum under this Agreement
interest is payable on the principal or Unpaid Sum at the rate payable on the original due date. 


  

	29.9	 Currency of account 



 

	 	(a)	 Subject to paragraphs (b) to (e) below, sterling is the currency of account and payment for any sum due
from an Obligor under any Finance Document. 


  

	 	(b)	 A repayment of a Loan or Unpaid Sum or a part of a Loan or Unpaid Sum shall be made in the currency in which
that Loan or Unpaid Sum is denominated on its due date. 


  

	 	(c)	 Each payment of interest shall be made in the currency in which the sum in respect of which the interest is
payable was denominated when that interest accrued. 


  

	 	(d)	 Each payment in respect of costs, expenses or Taxes shall be made in the currency in which the costs,
expenses or Taxes are incurred. 


  

	 	(e)	 Any amount expressed to be payable in a currency other than sterling shall be paid in that other currency.



  

	29.10	 Change of currency 



 

	 	(a)	 Unless otherwise prohibited by law, if more than one currency or currency unit are at the same time
recognised by the central bank of any country as the lawful currency of that country, then: 



  
 74 














	 	(i)	 any reference in the Finance Documents to, and any obligations arising under the Finance Documents in, the
currency of that country shall be translated into, or paid in, the currency or currency unit of that country designated by the Agent (after consultation with the Designated Borrower); and 



 

	 	(ii)	 any translation from one currency or currency unit to another shall be at the official rate of exchange
recognised by the central bank for the conversion of that currency or currency unit into the other, rounded up or down by the Agent (acting reasonably). 


  

	 	(b)	 If a change in any currency of a country occurs, this Agreement will, to the extent the Agent (acting
reasonably and after consultation with the Designated Borrower) specifies to be necessary, be amended to comply with any generally accepted conventions and market practice in the Relevant Interbank Market and otherwise to reflect the change in
currency. 


  

	29.11	 Disruption to payment systems etc. 



If either the Agent determines (in its discretion) that a Disruption Event has occurred or the Agent is notified by a Borrower
that a Disruption Event has occurred: 
  

	 	(a)	 the Agent may, and shall if requested to do so by a Borrower, consult with the Designated Borrower with a
view to agreeing with the Designated Borrower such changes to the operation or administration of the Facility as the Agent may deem necessary in the circumstances; 



 

	 	(b)	 the Agent shall not be obliged to consult with the Designated Borrower in relation to any changes mentioned
in paragraph (a) if, in its reasonable opinion, it is not practicable to do so in the circumstances and, in any event, shall have no obligation to agree to such changes; 



 

	 	(c)	 the Agent may consult with the Finance Parties in relation to any changes mentioned in paragraph
(a) above but shall not be obliged to do so if, in its opinion, it is not practicable to do so in the circumstances; 


  

	 	(d)	 any such changes agreed upon by the Agent and the Designated Borrower shall (whether or not it is finally
determined that a Disruption Event has occurred) be binding upon the Parties as an amendment to (or, as the case may be, waiver of) the terms of the Finance Documents notwithstanding the provisions of Clause 35 (Amendments and Waivers);



  

	 	(e)	 the Agent shall not be liable for any damages, costs or losses to any person, any diminution in value or any
liability whatsoever (including, without limitation for negligence, gross negligence or any other category of liability whatsoever but not including any claim based on the fraud of the Agent) arising as a result of its taking, or failing to take,
any actions pursuant to or in connection with this Clause 29.11; and 


  

	 	(f)	 the Agent shall notify the Finance Parties of all changes agreed pursuant to paragraph (d) above.



  

	29.12	 Amounts paid in error 



 

	 	(a)	 If the Agent pays an amount to another Party and promptly upon becoming aware of such error the Agent
notifies that Party that such payment was an Erroneous Payment then the Party to whom that amount was paid by the Agent shall on demand refund the same to the Agent. 



 

	 	(b)	 Neither: 



  
 75 














	 	(i)	 the obligations of any Party to the Agent; nor 



 

	 	(ii)	 the remedies of the Agent, 



(whether arising under this Clause 29.12 or otherwise) which relate to an Erroneous Payment will be affected by any act,
omission, matter or thing which, but for this paragraph (b), would reduce, release or prejudice any such obligation or remedy (whether or not known by the Agent or any other Party). 

 

	 	(c)	 All payments to be made by a Party to the Agent (whether made pursuant to this Clause 29.12 or otherwise)
which relate to an Erroneous Payment shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim. 



 

	 	(d)	 In this Clause, “Erroneous Payment” means a payment of an amount by the Agent to another
Party which the Agent determines was made in error. 


  

	30.	 SET-OFF 



A Finance Party may, whilst an Event of Default is continuing, set off any matured obligation due from an Obligor under the
Finance Documents (to the extent beneficially owned by that Finance Party) against any matured obligation owed by that Finance Party to that Obligor, regardless of the place of payment, booking branch or currency of either obligation. If the
obligations are in different currencies, the Finance Party may convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off. 

 

	31.	 NOTICES 


  

	31.1	 Communications in writing 



Any communication to be made under or in connection with the Finance Documents shall be made in writing and, unless otherwise
stated, may be made by letter or, in accordance with Clause 31.6 (Electronic communication), by way of an electronic communication. 
  

	31.2	 Addresses 



The address (and the department or officer, if any, for whose attention the communication is to be made) of each Party for any
communication or document to be made or delivered under or in connection with the Finance Documents is: 
  

	 	(a)	 in the case of each Obligor, that identified with its name below; and 



 

	 	(b)	 in the case of each Lender or other person who becomes an Obligor in accordance with the terms of this
Agreement, that notified in writing to the Agent on or prior to the date on which it becomes a Party; and 


  

	 	(c)	 in the case of the Agent, that identified with its name below, 



or any substitute address or department or officer as the Party may notify to the Agent (or the Agent may notify to the other
Parties, if a change is made by the Agent) by not less than 15 days’ notice. 
  

	31.3	 Delivery 


  

	 	(a)	 Any communication or document made or delivered by one person to another under or in connection with the
Finance Documents will only be effective: 


  

	 	(i)	 if in writing and delivered in person or by courier, shall be deemed effective on the date delivered; or




  
 76 














	 	(ii)	 sent by certified or registered mail, (airmail, if overseas) or the equivalent (return receipt requested),
shall be deemed effective, on the date that mail is delivered or its delivery attempted; 


 and, if a
particular department or officer is specified as part of its address details provided under Clause 31.2 (Addresses), if addressed to that department or officer. 
  

	 	(b)	 Any communication or document to be made or delivered to the Agent will be effective only when actually
received by the Agent and then only if it is expressly marked for the attention of the department or officer identified with the Agent’s signature below (or any substitute department or officer as the Agent shall specify for this purpose).



  

	 	(c)	 All notices from or to an Obligor shall be sent through the Agent. 



 

	 	(d)	 Any communication or documents made or delivered to the Designated Borrower in accordance with this Clause
will be deemed to have been made or delivered to each of the Obligors. 


  

	 	(e)	 Any communication or document which becomes effective, in accordance with paragraph (a) above:



  

	 	(i)	 if not received on a Business Day will be deemed to become effective on the following Business Day; and



  

	 	(ii)	 if received on a Business Day after 5.00 p.m. in the place of receipt, shall be deemed to become effective
on the following Business Day. 


  

	31.4	 Notification of address 



Promptly upon changing its address, the Agent shall notify the other Parties. 

 

	31.5	 Communication when Agent is Impaired Agent 



If the Agent is an Impaired Agent the Parties may, instead of communicating with each other through the Agent, communicate with
each other directly and (while the Agent is an Impaired Agent) all the provisions of the Finance Documents which require communications to be made or notices to be given to or by the Agent shall be varied so that communications may be made and
notices given to or by the relevant Parties directly. This provision shall not operate after a replacement Agent has been appointed. 
  

	31.6	 Electronic communication 



 

	 	(a)	 Any communication to be made between any two Parties under or in connection with the Finance Documents may
be made by electronic mail or other electronic means (including, without limitation, by way of posting to a secure website) if those two Parties: 


  

	 	(i)	 notify each other in writing of their electronic mail address and/or any other information required to
enable the transmission of information by that means; and 


  

	 	(ii)	 notify each other of any change to their address or any other such information supplied by them by not less
than five Business Days’ notice. 


  

	 	(b)	 Any such electronic communication as specified in paragraph (a) above to be made between an Obligor and
a Finance Party may only be made in that way to the extent that those two Parties agree that, unless and until notified to the contrary, this is to be an accepted form of communication. 



  
 77 














	 	(c)	 Any such electronic communication as specified in paragraph (a) above made between any two Parties will
be effective only when actually received (or made available) in readable form and in the case of any electronic communication made by a Party to the Agent only if it is addressed in such a manner as the Agent shall specify for this purpose.



  

	 	(d)	 Any electronic communication which becomes effective, in accordance with paragraph (c) above, after
5:00 p.m. in the place in which the Party to whom the relevant communication is sent or made available has its address for the purpose of this Agreement shall be deemed only to become effective on the following day. 



 

	 	(e)	 Any reference in a Finance Document to a communication being sent or received shall be construed to include
that communication being made available in accordance with this Clause 31.6. 


  

	31.7	 English language 



 

	 	(a)	 Any notice given under or in connection with any Finance Document must be in English. 



 

	 	(b)	 All other documents provided under or in connection with any Finance Document must be:



  

	 	(i)	 in English; or 


  

	 	(ii)	 if not in English, and if so required by the Agent, accompanied by a certified English translation and, in
this case, the English translation will prevail unless the document is a constitutional, statutory or other official document. 


  

	32.	 CALCULATIONS AND CERTIFICATES 



 

	32.1	 Accounts 



In any litigation or arbitration proceedings arising out of or in connection with a Finance Document, the entries made in the
accounts maintained by a Finance Party are prima facie evidence of the matters to which they relate. 
  

	32.2	 Certificates and Determinations 



Any certification or determination by a Finance Party of a rate or amount under a Finance Document is, in the absence of
manifest error, conclusive evidence of the matters to which it relates. 
  

	32.3	 Day count convention and interest calculation 



Any interest, commission or fee accruing under a Finance Document will accrue from day to day and the amount of any such
interest, commission or fee is calculated: 
  

	 	(i)	 on the basis of the actual number of days elapsed and a year of 365 days or, in any case where the practice
in the Relevant Interbank Market differs, in accordance with that market practice; and 


  

	 	(ii)	 subject to paragraph (b) below, without rounding. 



 

	 	(b)	 The aggregate amount of any accrued interest, commission or fee which is, or becomes, payable by an Obligor
under a Finance Document shall be rounded to 2 decimal places. 



  
 78 














	33.	 PARTIAL INVALIDITY 



If, at any time, any provision of a Finance Document is or becomes illegal, invalid or unenforceable in any respect under any
law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of any other jurisdiction will in any way be affected or impaired.

  

	34.	 REMEDIES AND WAIVERS 



No failure to exercise, nor any delay in exercising, on the part of any Finance Party, any right or remedy under a Finance
Document shall operate as a waiver of any such right or remedy or constitute an election to affirm any of the Finance Documents. No election to affirm any Finance Document on the part of any Finance Party shall be effective unless it is in writing.
No single or partial exercise of any right or remedy shall prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in each Finance Document are cumulative and not exclusive of any rights
or remedies provided by law. 
  

	35.	 AMENDMENTS AND WAIVERS 



 

	35.1	 Required consents 



 

	 	(a)	 Subject to Clause 35.2 (All Lender matters) and Clause 35.3 (Other exceptions) any term of the
Finance Documents may be amended or waived only with the consent of the Majority Lenders and the Designated Borrower and any such amendment or waiver will be binding on all Parties. 



 

	 	(b)	 The Agent may effect, on behalf of any Finance Party, any amendment or waiver permitted by this Clause 35.



  

	 	(c)	 Paragraph (c) of Clause 24.10 (Pro rata interest settlement) shall apply to this Clause 35.



  

	35.2	 All Lender matters 



An amendment or waiver of any term of any Finance Document that has the effect of changing or which relates to: 

 

	 	(a)	 the definition of “Majority Lenders” in Clause 1.1 (Definitions); 



 

	 	(b)	 an extension to the date of payment of any amount under the Finance Documents; 



 

	 	(c)	 a reduction in the Margin or a reduction in the amount of any payment of principal, interest, fees or
commission payable; 


  

	 	(d)	 a change in the currency of payment of any amount under the Finance Documents; 



 

	 	(e)	 an increase in any Commitment, an extension of the Availability Period or any requirement that a
cancellation of Commitments reduces the Commitments of the Lenders rateably under the Facility; 


  

	 	(f)	 a change to the Obligors other than in accordance with Clause 25 (Changes to the Obligors);



  

	 	(g)	 any provision which expressly requires the consent of all the Lenders; 



 

	 	(h)	 Clause 2.3 (Finance Parties’ rights and obligations), Clause 4.2 (Certain funds Utilisations), Clause
5.1 (Delivery of a Utilisation Request), Clause 7.1 (Illegality), Clause 9.2 (Application of prepayments), Clause 24 (Changes to the Lenders) to the extent restricting the rights of the Lenders to assign or transfer their rights or obligations under
the Finance Documents, Clause 25 (Changes to the Obligors), Clause 28 (Sharing among the Finance Parties), this Clause 35, Clause 41 (Governing Law) or Clause 42 (Enforcement and Jurisdiction); 



  
 79 














	 	(i)	 the guarantee and indemnity granted pursuant to Clause 18 (Guarantee); and 



 

	 	(j)	 the nature and scope of any guarantee and indemnity granted pursuant to Clause 25.1(a) (Assignments and
transfers by the Borrowers), 


 shall not be made without the prior consent of all the Lenders. 

 

	35.3	 Other exceptions 



 

	 	(a)	 An amendment or waiver which relates to the rights or obligations of the Agent or the Arrangers (each in
their capacity as such) may not be effected without the consent of the Agent or the Arrangers, as the case may be. 


  

	 	(b)	 If a Change of Control pursuant to Clause 8.1 (Change of control) has occurred, the right of a Lender
to require prepayment following such a Change of Control pursuant to Clause 8.1 (Change of control) may be only waived with the consent of that Lender. 



 

	35.4	 Changes to Reference Rate 



 

	 	(a)	 Subject to Clause 35.3 (Other exceptions), if an RFR Replacement Event has occurred in relation to
any RFR for a currency which can be selected for a Loan, any amendment or waiver which relates to: 


  

	 	(i)	 providing for the use of a Replacement Reference Rate in relation to that currency in place of that RFR; and



  

	 	(ii)	 


  

	 	(A)	 aligning any provision of any Finance Document to the use of that Replacement Reference Rate;



  

	 	(B)	 enabling that Replacement Reference Rate to be used for the calculation of interest under this Agreement
(including, without limitation, any consequential changes required to enable that Replacement Reference Rate to be used for the purposes of this Agreement); 


  

	 	(C)	 implementing market conventions applicable to that Replacement Reference Rate; 



 

	 	(D)	 providing for appropriate fallback (and market disruption) provisions for that Replacement Reference Rate;
or 


  

	 	(E)	 adjusting the pricing to reduce or eliminate, to the extent reasonably practicable, any transfer of economic
value from one Party to another as a result of the application of that Replacement Reference Rate (and if any adjustment or method for calculating any adjustment has been formally designated, nominated or recommended by the Relevant Nominating Body,
the adjustment shall be determined on the basis of that designation, nomination or recommendation), 


 may
be made with the consent of the Agent (acting on the instructions of the Majority Lenders) and the Designated Borrower. 

  
 80 














	 	(b)	 An amendment or waiver that relates to, or has the effect of, aligning the means of calculation of interest
on a Loan in the currency under this Agreement to any recommendation of a Relevant Nominating Body which: 


  

	 	(i)	 relates to the use of the RFR for that currency on a compounded basis in the international or any relevant
domestic syndicated loan markets; and 


  

	 	(ii)	 is issued on or after the date of this Agreement, 



may be made with the consent of the Agent (acting on the instruction of the Majority Lenders) and the Designated Borrower.

  

	 	(c)	 If any Lender fails to respond to a request for an amendment or waiver described in paragraph (a) or
paragraph (b) above within 15 Business Days (or such longer time period in relation to any request which the Designated Borrower and the Agent may agree) of that request being made: 



 

	 	(i)	 its Commitment(s) shall not be included for the purpose of calculating the Total Commitments when
ascertaining whether any relevant percentage of Total Commitments has been obtained to approve that request; and 


  

	 	(ii)	 its status as a Lender shall be disregarded for the purpose of ascertaining whether the agreement of any
specified group of Lenders has been obtained to approve that request. 


  

	 	(d)	 In this Clause 35.4: 



“Relevant Nominating Body” means any applicable central bank, regulator or other supervisory authority or a
group of them, or any working group or committee sponsored or chaired by, or constituted at the request of, any of them or the Financial Stability Board. 

“Replacement Reference Rate” means a reference rate which is: 

 

	 	(i)	 formally designated, nominated or recommended as the replacement for a RFR by: 



 

	 	(A)	 the administrator of that RFR (provided that the market or economic reality that such reference rate
measures is the same as that measured by that RFR; or 


  

	 	(B)	 any Relevant Nominating Body, 



and if replacements have, at the relevant time, been formally designated, nominated or recommended under both paragraphs, the
“Replacement Reference Rate” will be the replacement under paragraph (B) above; 
  

	 	(ii)	 in the opinion of the Majority Lenders and the Designated Borrower, generally accepted in the international
or any relevant domestic syndicated loan markets as the appropriate successor to a RFR; or 


  

	 	(iii)	 in the opinion of the Majority Lenders and the Designated Borrower, an appropriate successor to a RFR.



 “RFR Replacement Event” means, in relation to a RFR: 

 

	 	(i)	 the methodology, formula or other means of determining that RFR has materially changed;




  
 81 














	 	(ii)	 


  

	 	(A)	 


  

	 	(1)	 the administrator of that RFR or its supervisor publicly announces that such administrator is insolvent; or



  

	 	(2)	 information is published in any order, decree, notice, petition or filing, however described, of or filed
with a court, tribunal, exchange, regulatory authority or similar administrative, regulatory or judicial body which reasonably confirms that the administrator of that RFR is insolvent, 



provided that, in each case, at that time, there is no successor administrator to continue to provide that RFR; 

 

	 	(B)	 the administrator of that RFR publicly announces that it has ceased or will cease to provide that RFR
permanently or indefinitely and, at that time, there is no successor administrator to continue to provide that RFR; 


  

	 	(C)	 the supervisor of the administrator of that RFR publicly announces that such RFR has been or will be
permanently or indefinitely discontinued; or 


  

	 	(D)	 the administrator of that RFR or its supervisor announces that that RFR may no longer be used;



  

	 	(iii)	 the administrator of that RFR (or the administrator of an interest rate which is a constituent element of
that RFR) determines that that RFR should be calculated in accordance with its reduced submissions or other contingency or fallback policies or arrangements and either: 



 

	 	(A)	 the circumstance(s) or (event(s) leading to such determination are not (in the opinion of the Majority
Lenders and the Designated Borrower) temporary; or 


  

	 	(B)	 that RFR is calculated in accordance with any such policy or arrangement for a period no less than the
period specified as the “Published Rate Contingency Period” in the Reference Rate Terms relating to that RFR; or 


  

	 	(C)	 in the opinion of the Majority Lenders and the Designated Borrower, that RFR is otherwise no longer
appropriate for the purposes of calculating interest under this Agreement. 


  

	35.5	 Disenfranchisement of Defaulting Lenders 



 

	 	(a)	 For so long as a Defaulting Lender has any Available Commitment, in ascertaining 



 

	 	(i)	 the Majority Lenders; or 



 

	 	(ii)	 whether: 


  

	 	(A)	 any given percentage (including, for the avoidance of doubt, unanimity) of the Total Commitments under the
Facility; or 


  

	 	(B)	 the agreement of any specified group of Lenders. 



has been obtained to approve any request for a consent, waiver, amendment or other vote under the Finance Documents, 

  
 82 













 that Defaulting Lender’s Commitments under the Facility will be reduced
by the amount of its Available Commitments under the Facility and, to the extent that that reduction results in that Defaulting Lender’s Total Commitments being zero, that Defaulting Lender shall be deemed not to be a Lender for the purposes of
paragraphs (i) and (ii) above. 
  

	 	(b)	 For the purposes of this Clause 35.5, the Agent may assume that the following Lenders are Defaulting
Lenders: 


  

	 	(i)	 any Lender which has notified the Agent that it has become a Defaulting Lender; 



 

	 	(ii)	 any Lender in relation to which it is aware that any of the events or circumstances referred to in
paragraphs (a), (b) or (c) of the definition of “Defaulting Lender” has occurred, 


 unless
it has received notice to the contrary from the Lender concerned (together with any supporting evidence reasonably requested by the Agent) or the Agent is otherwise aware that the Lender has ceased to be a Defaulting Lender. 

 

	35.6	 Excluded Commitments 



If any Defaulting Lender fails to respond to a request for a consent, waiver, amendment of or in relation to any term of any
Finance Document or any other vote of Lenders under the terms of this Agreement within five Business Days (unless the Designated Borrower and the Agent agree to a longer time period in relation to any request) of that request being made: 

 

	 	(a)	 its Commitment(s) shall not be included for the purpose of calculating the Total Commitments under the
Facility when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Total Commitments has been obtained to approve that request; and 



 

	 	(b)	 its status as a Lender shall be disregarded for the purpose of ascertaining whether the agreement of any
specified group of Lenders has been obtained to approve that request. 


  

	35.7	 Replacement of a Defaulting Lender 



 

	 	(a)	 The Designated Borrower may, at any time a Lender has become and continues to be a Defaulting Lender, by
giving not less than two Business Days’ prior written notice to the Agent and such Lender: 


  

	 	(i)	 replace such Lender by requiring such Lender to (and, to the extent permitted by law, such Lender shall)
transfer pursuant to Clause 24 (Changes to the Lenders) all (and not part only) of its rights and obligations under this Agreement; 


  

	 	(ii)	 require such Lender to (and, to the extent permitted by law, such Lender shall) transfer pursuant to Clause
24 (Changes to the Lenders) all (and not part only) of the undrawn Commitments of the Lender; or 


  

	 	(iii)	 require such Lender to (and, to the extent permitted by law, such Lender shall) transfer pursuant to Clause
24 (Changes to the Lenders) all (and not part only) of its rights and obligations in respect of the Facility, 



  
 83 













 to an Eligible Institution (a “Replacement Lender”) which
confirms its willingness to assume and does assume all the obligations or all the relevant obligations of the transferring Lender in accordance with Clause 24 (Changes to the Lenders) for a purchase price in cash payable at the time of
transfer which is either: 
  

	 	(A)	 in an amount equal to the outstanding principal amount of such Lender’s participation in the
outstanding Loans and all accrued interest (to the extent that the Agent has not given a notification under Clause 24.10 (Pro rata interest settlement)) and other amounts payable in relation thereto under the Finance Documents; or



  

	 	(B)	 in an amount agreed between that Defaulting Lender, the Replacement Lender and the Designated Borrower and
which does not exceed the amount described in paragraph (A) above. 


  

	 	(b)	 Any transfer of rights and obligations of a Defaulting Lender pursuant to this Clause 35.7 shall be subject
to the following conditions: 


  

	 	(i)	 the Borrowers shall have no right to replace the Agent; 



 

	 	(ii)	 neither the Agent nor the Defaulting Lender shall have any obligation to the Borrowers to find a Replacement
Lender; 


  

	 	(iii)	 in no event shall the Defaulting Lender be required to pay or surrender to the Replacement Lender any of the
fees received by it pursuant to the Finance Documents; and 


  

	 	(iv)	 the Defaulting Lender shall only be obliged to transfer its rights and obligations pursuant to paragraph
(a) above once it is satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to that transfer to the Replacement Lender.



  

	 	(c)	 The Defaulting Lender shall perform the checks described in paragraph (b)(iv) above as soon as reasonably
practicable following delivery of a notice referred to in paragraph (a) above and shall notify the Agent and the Designated Borrower when it is satisfied that it has complied with those checks. 



 

	36.	 CONFIDENTIALITY 



 

	36.1	 


  

	 	(a)	 The Finance Parties agree to keep all Confidential Information confidential and not to disclose it to
anyone, save to the extent permitted by paragraph (b) below, and to ensure that all Confidential Information is protected with security measures and a degree of care that would apply to its own confidential information. 



 

	 	(b)	 Each Finance Party may disclose: 



 

	 	(i)	 to any of its Affiliates and any of its or their officers, directors, employees, professional advisers,
auditors, partners and Representatives such Confidential Information as that Finance Party shall consider appropriate if any person to whom the Confidential Information is to be given pursuant to this paragraph (i) is informed in writing of its
confidential nature and that some or all of such Confidential Information may be price-sensitive information except that there shall be no such requirement to so inform if the recipient is subject to professional obligations to maintain the
confidentiality of the information or is otherwise bound by requirements of confidentiality in relation to the Confidential Information; 



  
 84 














	 	(ii)	 to any person: 


  

	 	(A)	 to (or through) whom it assigns or transfers (or may potentially assign or transfer) all or any of its
rights and/or obligations under one or more Finance Documents or which succeeds (or which may potentially succeed) it as Agent and, in each case, to any of that person’s Affiliates, Representatives and professional advisers in accordance with
the terms of this Agreement; 


  

	 	(B)	 with (or through) whom it enters into (or may potentially enter into), whether directly or indirectly, any sub-participation in relation to, or any other transaction under which payments are to be made or may be made by reference to, one or more Finance Documents and/or one or more Obligors and to any of that
person’s Affiliates, Representatives and professional advisers; 


  

	 	(C)	 appointed by any Finance Party or by a person to whom paragraph (A) or paragraph (B) above applies
to receive communications, notices, information or documents delivered pursuant to the Finance Documents on its behalf (including, without limitation, any person appointed under Clause 26.15 (Relationship with the Lenders));



  

	 	(D)	 who invests in or otherwise finances (or may potentially invest in or otherwise finance), directly or
indirectly, any transaction referred to in paragraph (A) or paragraph (B) above; 


  

	 	(E)	 to whom information is required or requested to be disclosed by any court of competent jurisdiction or any
governmental, banking, taxation or other regulatory authority or similar body, the rules of any relevant stock exchange or pursuant to any applicable law or regulation; 



 

	 	(F)	 to whom information is required to be disclosed in connection with, and for the purposes of, any litigation,
arbitration, administrative or other investigations, proceedings or disputes; 


  

	 	(G)	 to whom or for whose benefit that Finance Party charges, assigns or otherwise creates Security (or may do
so) pursuant to Clause 24.9 (Security over Lenders’ rights); 


  

	 	(H)	 who is a Party; or 



 

	 	(I)	 with the consent of the Designated Borrower; 



in each case, such Confidential Information as the Lender shall consider appropriate if in relation to paragraphs (ii)(A),
(ii)(C) and (ii)(F) above, the person to whom the Confidential Information is to be given is informed of its confidential nature and that some or all of such Confidential Information may be price-sensitive information except that there shall be no
requirement to so inform if, in the opinion of the Finance Party, it is not practicable so to do in the circumstances; and 
  

	 	(iii)	 to any person appointed by that Finance Party or by a person to whom Clause 36.1(b)(ii)(A) above applies to
provide administration or settlement services in respect of one or more of the Finance Documents including without limitation, in relation to the trading of participations in respect of the Finance Documents, such Confidential Information as may be
required to be disclosed to enable such service provider to provide any of the services referred to in this Clause 36.1(b)(iii) if the service provider to whom the Confidential Information is to be given has entered into a confidentiality agreement
substantially in the form of the “LMA Master Confidentiality Undertaking for Use With Administration/Settlement Service Providers” or such other form of confidentiality undertaking agreed between the Designated Borrower and the relevant
Finance Party. 



  
 85 














	 	(c)	 Any Finance Party may disclose to any national or international numbering service provider appointed by that
Finance Party to provide identification numbering services in respect of this Agreement, the Facility and/or one or more Obligors the following information: 


  

	 	(i)	 names of the Obligors; 



 

	 	(ii)	 country of domicile of the Obligors; 



 

	 	(iii)	 place of incorporation of the Obligors; 



 

	 	(iv)	 date of this Agreement; 



 

	 	(v)	 Clause 41 (Governing Law); 



 

	 	(vi)	 the names of the Agent, the Arrangers and the Coordinator; 



 

	 	(vii)	 date of each amendment and restatement of this Agreement; 



 

	 	(viii)	 amount of, and name of, the Facility (and any tranches); 



 

	 	(ix)	 amount of Total Commitments; 



 

	 	(x)	 currency of the Facility; 



 

	 	(xi)	 type of the Facility; 



 

	 	(xii)	 ranking of the Facility; 



 

	 	(xiii)	 the Maturity Date of the Facility; 



 

	 	(xiv)	 changes to any of the information previously supplied pursuant to paragraphs (i) to (xiii) above; and



  

	 	(xv)	 such other information agreed between such Finance Party and the Designated Borrower, 



to enable such numbering service provider to provide its usual syndicated loan numbering identification services. 

 

	 	(d)	 The Parties acknowledge and agree that each identification number assigned to this Agreement, the Facility
and/or one or more of the Obligors by a numbering service provider and the information associated with each such number may be disclosed to users of its services in accordance with the standard terms and conditions of that numbering service
provider. 


  

	 	(e)	 Each Borrower represents that none of the information set out in paragraph (c) above is, nor will at
any time be, unpublished price-sensitive information. 


  

	 	(f)	 This Clause 36 constitutes the entire agreement between the Parties in relation to the obligations of the
Finance Parties hereunder regarding Confidential Information and supersedes any previous agreement, whether express or implied, regarding Confidential Information. 



  
 86 














	 	(g)	 Each Finance Party acknowledges that some or all of the Confidential Information is or may be
price-sensitive information and that the use of such information may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse and each Finance Party undertakes not to use any
Confidential Information for any unlawful purpose. 


  

	 	(h)	 The Finance Parties agree (to the extent permitted by law and regulation) to inform the Designated Borrower:



  

	 	(i)	 of the circumstances of any disclosure of Confidential Information made pursuant to paragraph (b)(ii)(A)
above except where such disclosure is made to any of the persons referred to in that paragraph during the ordinary course of its supervisory or regulatory function; and 



 

	 	(ii)	 upon becoming aware that Confidential Information has been disclosed in breach of this Clause 36.



  

	36.2	 The obligations in this Clause 36 are continuing and, in particular, shall survive and remain binding on the
Finance Parties for a period of twelve months from the earlier of: 


  

	 	(a)	 the date on which all amounts payable by the Obligors under or in connection with this Agreement have been
paid in full and all Commitments have been cancelled or otherwise ceased to be available; and 


  

	 	(b)	 the date on which such Finance Party otherwise ceases to be a Finance Party. 



 

	37.	 CONFIDENTIALITY OF FUNDING RATES 



 

	37.1	 Confidentiality and disclosure 



 

	 	(a)	 The Agent and each Obligor agree to keep each Funding Rate confidential and not to disclose it to anyone,
save to the extent permitted by paragraphs (b) and (c) below. 


  

	 	(b)	 The Agent may disclose: 



 

	 	(i)	 any Funding Rate to the relevant Borrower pursuant to Clause 10.5 (Notifications); and



  

	 	(ii)	 any Funding Rate to any person appointed by it to provide administration services in respect of one or more
of the Finance Documents to the extent necessary to enable such service provider to provide those services if the service provider to whom that information is to be given has entered into a confidentiality agreement substantially in the form of the
LMA Master Confidentiality Undertaking for Use With Administration/Settlement Service Providers or such other form of confidentiality undertaking agreed between the Agent and the relevant Lender. 



 

	 	(c)	 The Agent and each Obligor may disclose any Funding Rate to: 



 

	 	(i)	 any of its Affiliates and any of its or their officers, directors, employees, professional advisers,
auditors, partners and Representatives if any person to whom that Funding Rate is to be given pursuant to this paragraph (i) is informed in writing of its confidential nature and that it may be price-sensitive information except that there
shall be no such requirement to so inform if the recipient is subject to professional obligations to maintain the confidentiality of that Funding Rate or is otherwise bound by requirements of confidentiality in relation to it; 




  
 87 














	 	(ii)	 any person to whom information is required or requested to be disclosed by any court of competent
jurisdiction or any governmental, banking, taxation or other regulatory authority or similar body, the rules of any relevant stock exchange or pursuant to any applicable law or regulation if the person to whom that Funding Rate is to be given is
informed in writing of its confidential nature and that it may be price-sensitive information except that there shall be no requirement to so inform if, in the opinion of the Agent or the relevant Obligor, as the case may be, it is not practicable
to do so in the circumstances; 


  

	 	(iii)	 any person to whom information is required to be disclosed in connection with, and for the purposes of, any
litigation, arbitration, administrative or other investigations, proceedings or disputes if the person to whom that Funding Rate is to be given is informed in writing of its confidential nature and that it may be price-sensitive information except
that there shall be no requirement to so inform if, in the opinion of the Agent or the relevant Obligor, as the case may be, it is not practicable to do so in the circumstances; and 



 

	 	(iv)	 any person with the consent of the relevant Lender. 



 

	37.2	 Related obligations 



 

	 	(a)	 The Agent and each Obligor acknowledge that each Funding Rate is or may be price-sensitive information and
that its use may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse and the Agent and each Obligor undertake not to use any Funding Rate for any unlawful purpose.



  

	 	(b)	 The Agent and each Obligor agree (to the extent permitted by law and regulation) to inform the relevant
Lender: 


  

	 	(i)	 of the circumstances of any disclosure made pursuant to Clause 37.1(c)(ii) (Confidentiality and
disclosure) except where such disclosure is made to any of the persons referred to in that paragraph during the ordinary course of its supervisory or regulatory function; and 



 

	 	(ii)	 upon becoming aware that any information has been disclosed in breach of this Clause 37.



  

	37.3	 No Event of Default 



No Event of Default will occur under Clause 23.3 (Other obligations) by reason only of an Obligor’s failure to
comply with this Clause 37. 
  

	38.	 BAIL-IN 



 

	38.1	 Contractual recognition of bail-in 



Notwithstanding any other term of any Finance Document or any other agreement, arrangement or understanding between the
Parties, each Party acknowledges and accepts that any liability of any Party to any other Party under or in connection with the Finance Documents may be subject to Bail-In Action by the relevant Resolution
Authority and acknowledges and accepts to be bound by the effect of: 
  

	 	(a)	 any Bail-In Action in relation to any such liability, including
(without limitation): 


  

	 	(i)	 a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued
but unpaid interest) in respect of any such liability; 


  

	 	(ii)	 a conversion of all, or part of, any such liability into shares or other instruments of ownership that may
be issued to, or conferred on, it; and 



  
 88 














	 	(iii)	 a cancellation of any such liability; and 



 

	 	(b)	 a variation of any term of any Finance Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability. 


  

	38.2	 Bail-in definitions 



In this Clause 38: 

“Article 55 BRRD” means Article 55 of Directive 2014/59/EU establishing a framework for the recovery and
resolution of credit institutions and investment firms. 
 “Bail-In
Action” means the exercise of any Write-down and Conversion Powers. 

“Bail-In Legislation” means: 

 

	 	(a)	 in relation to an EEA Member Country which has implemented, or which at any time implements, Article 55
BRRD, the relevant implementing law or regulation as described in the EU Bail-In Legislation Schedule from time to time; 



 

	 	(b)	 in relation to the United Kingdom, the UK Bail-In Legislation; and



  

	 	(c)	 in relation to any state other than such an EEA Member Country and the United Kingdom, any analogous law or
regulation from time to time which requires contractual recognition of any Write-down and Conversion Powers contained in that law or regulation. 



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

“EU Bail-In Legislation Schedule” means the document described as such
and published by the Loan Market Association (or any successor person) from time to time. 
 “Resolution
Authority” means any body which has authority to exercise any Write-down and Conversion Powers. 
 “UK Bail-In Legislation” means Part I of the United Kingdom Banking Act 2009 and any other law or regulation applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment
firms or other financial institutions or their affiliates (otherwise than through liquidation, administration or other insolvency proceedings). 

“Write-down and Conversion Powers” means: 

 

	 	(a)	 in relation to any Bail-In Legislation described in the EU Bail-In Legislation Schedule from time to time, the powers described as such in relation to that Bail-In Legislation in the EU Bail-In
Legislation Schedule; 


  

	 	(b)	 in relation to the UK Bail-In Legislation, any powers under that UK Bail-In Legislation to cancel, transfer or dilute shares issued by a person that is a bank or investment firm or other financial institution or affiliate of a bank, investment firm or other financial institution, to
cancel, reduce, modify or change the form of a liability of such a person or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other
person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that UK
Bail-In Legislation that are related to or ancillary to any of those powers; and 


  

	 	(c)	 in relation to any other applicable Bail-In Legislation:




  
 89 














	 	(i)	 any powers under that Bail-In Legislation to cancel, transfer or
dilute shares issued by a person that is a bank or investment firm or other financial institution or affiliate of a bank, investment firm or other financial institution, to cancel, reduce, modify or change the form of a liability of such a person or
any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if
a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers; and



  

	 	(ii)	 any similar or analogous powers under that Bail-In Legislation.



  

	39.	 COUNTERPARTS 



Each Finance Document may be executed in any number of counterparts, and this has the same effect as if the signatures on the
counterparts were on a single copy of each Finance Document. 
  

	40.	 CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999 



 

	 	(a)	 Unless expressly provided to the contrary in a Finance Document a person who is not a Party has no right
under the Contracts (Rights of Third Parties) Act 1999 (the “Third Parties Act”) to enforce or to enjoy the benefit of any term of this Agreement. 



 

	 	(b)	 Notwithstanding any term of any Finance Document, the consent of any person who is not a Party is not
required to rescind or vary this Agreement at any time. 



  
 90 













  SECTION 12 

GOVERNING LAW 
  

	41.	 GOVERNING LAW 



This Agreement and any non-contractual obligations arising out of or in connection with
it are governed in accordance with English law. 
  

	42.	 ENFORCEMENT AND JURISDICTION 



 

	42.1	 Jurisdiction 



 

	 	(a)	 The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with
the Finance Documents (including a dispute relating to the existence, validity or termination of the Finance Documents or any non-contractual obligation arising out of or in connection with the Finance
Documents) (a “Dispute”). 


  

	 	(b)	 Subject to paragraph (c) below, the Parties agree that the courts of England are the most appropriate
and convenient courts to settle Disputes and accordingly no Party will argue to the contrary. 


  

	 	(c)	 Notwithstanding paragraph (b) above, no Finance Party shall be prevented from taking proceedings
relating to a Dispute in any other courts with jurisdiction. To the extent allowed by law, a Finance Party may take concurrent proceedings in any number of jurisdictions. 



 

	 	(d)	 The Obligors hereby consent generally in respect of any legal action or proceeding arising out of or in
connection with this Agreement or any non-contractual obligation arising out of or in connection with this Agreement to the giving of any relief or the issue of any process in connection with such action or
proceeding including, without limitation, the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) of any order or judgment which may be made or given in such action or proceeding.



  

	42.2	 Service of process 



Without prejudice to any other mode of service allowed under any relevant law, each Obligor (other than an Obligor incorporated
in England): 
  

	 	(a)	 irrevocably appoints the Designated Borrower as its agent for service of process in relation to any
proceedings before the English courts in connection with any Finance Document (and the Designated Borrower by its execution of this Agreement, accepts that appointment); and 



 

	 	(b)	 agrees that failure by a process agent to notify the relevant Obligor of the process will not invalidate the
proceedings concerned. 


  

	43.	 US PATRIOT ACT 



Each Finance Party that is subject to the requirements of the Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56 (commonly known as the USA Patriot Act) (the “USA Patriot Act”) hereby notifies each Obligor that pursuant to the
requirement of the USA Patriot Act, it is required to obtain, verify and record information that identifies the Obligors, which information includes the name and address of the Obligors and other information that will allow such Finance Party to
identify the Obligors in accordance with the USA Patriot Act. Each Obligor agrees that it will provide and shall cause each of its Subsidiaries to provide each Finance Party with such information and take such actions as such Finance Party may
reasonably request in order for such Finance Party to satisfy the requirements of the USA Patriot Act. 

  
 91 













 This Agreement has been entered into on the date stated at the beginning of this Agreement. 

  
 92 













 SCHEDULE 1 

ORIGINAL LENDERS 
  

									
	Original Lender	  	 Jurisdiction of

Tax Residence
	  	Facility Office	  	Treaty Passport
Number (if
applicable)	  	Commitment
					
	 Bank of America, N.A., London Branch
	  	 United States
	  	 2 King Edward Street,
 London EC1A 1HQ
	  	 N/A
	  	 [***]

	 Banco Santander, S.A., London Branch
	  	 Spain
	  	 2 Triton Square, Regent’s Place, London

NW1 3AN
	  	 N/A
	  	 [***]

	 Barclays Bank PLC
	  	 United
Kingdom
	  	1 Churchill Place, London E14 5HP	  	 N/A
	  	 [***]

	 BNP Paribas Fortis

SA/NV
	  	 Belgium
	  	Montagne du Parc 3 - 1000 Brussels	  	 18/B/359080/DTTP
	  	 [***]

	 BNP Paribas
	  	 France
	  	16 Boulevard des Italiens 75009 Paris	  	 5/B/255139/DTTP
	  	 [***]

	 Citibank, N.A., London Branch
	  	 United States
	  	Canada Square, Canary Wharf, London E14 5LB	  	 N/A
	  	 [***]

	 Deutsche Bank AG, London Branch
	  	 Germany
	  	 Winchester House, 1 Great Winchester Street,

London EC2N 2DB
	  	 7/D/70006/DTTP
	  	 [***]

	 Goldman Sachs Bank USA
	  	 United States
	  	200 West Street, New York, NY 10282-2198	  	 13/G/351779/DTTP
	  	 [***]

	 HSBC Bank plc
	  	 United
Kingdom
	  	8 Canada Square, London E14 5HQ	  	 N/A
	  	 [***]

	 JPMorgan Chase Bank, N.A., London Branch
	  	 United States
	  	25 Bank Street, Canary Wharf, London E14 5JP	  	 N/A
	  	 [***]

	 Mizuho Bank, Ltd.
	  	 N/A
	  	Mizuho Bank, Ltd., 30 Old Bailey, London EC4M 7AU	  	 N/A
	  	 [***]



  
 93 














									
	 Morgan Stanley Bank N.A.
	  	 United States
	  	 One Utah Centre, 201 South Main Street, Salt Lake

City, Utah, 84111
	  	 13/M/227953/DTTP
	  	 [***]

					
	 Standard Chartered Bank (Hong Kong) Limited
	  	 Hong Kong
	  	 32/F, 4-4A Des Voeux Road Central, Hong Kong
	  	 99/S/361738/DTTP
	  	 [***]

		  		  	 Total Commitments:
	  	 £1,500,000,000



  
 94 













 SCHEDULE 2 

CONDITIONS PRECEDENT 

PART I 
 Conditions
precedent to be satisfied by the Original Borrower before the first Utilisation 
  

	1.	 Original Borrower 



 

	 	(a)	 A copy of the constitutional documents of the Original Borrower. 



 

	 	(b)	 A certified copy of an extract of the minutes of a meeting of the board of directors of the Original
Borrower or, if applicable, a committee of the board: 


  

	 	(i)	 approving and resolving that the relevant Original Borrower execute this Agreement and any other relevant
Finance Documents to which it is a party; and 


  

	 	(ii)	 authorising a specified officer, officers, person or persons to execute this Agreement, any other relevant
Finance Documents and any other documents to be delivered to the Agent pursuant to this Agreement, on its behalf; and 


  

	 	(iii)	 approving the terms of the transactions contemplated by this Agreement and any other relevant Finance
Documents to which it is a party. 


  

	 	(c)	 A specimen of the signature of each person authorised by the resolution referred to in paragraph
(b) above. 


  

	 	(d)	 A certificate of an authorised officer of the Original Borrower certifying that borrowing the Total
Commitments will not cause any borrowing limit binding on it to be exceeded. 


  

	 	(e)	 A certificate of an authorised officer of the Original Borrower certifying that each copy document relating
to it specified in this Part I of Schedule 2 is correct, complete and in full force and effect as at a date no earlier than the date of this Agreement. 


  

	2.	 Finance Documents 



 

	 	(a)	 This Agreement executed by the Original Borrower. 



 

	 	(b)	 The Fee Letters executed by the Original Borrower. 



 

	3.	 Legal opinions 



 

	 	(a)	 A copy of the legal opinion of Slaughter and May, legal advisers to the Original Borrower in England and
Wales as to the incorporation, capacity, power and authority (including no breach of constitutional documents), choice of law, recognition of English court judgments, no filing and due execution of this Agreement by the Original Borrower addressed
to the Finance Parties and in a form acceptable to the Agent. 


  

	 	(b)	 A copy of the legal opinion of Herbert Smith Freehills LLP as to enforceability in a form acceptable to the
Agent. 


  

	4.	 Other documents and evidence 



 

	 	(a)	 The Original Consolidated Financial Statements. 



 

	 	(b)	 A copy of the structure chart of the Original Group showing the Original Borrower. 



  
 95 














	 	(c)	 Evidence that the Agent is satisfied it has complied with all necessary “know your customer” or
other similar checks under all applicable laws and regulations in connection with this Agreement. 


  

	 	(d)	 Evidence that the fees, costs and expenses then due from the Original Borrower pursuant to Clause 13
(Fees; Costs and Expenses) have been paid or will be paid in accordance with that clause. 


  

	 	(e)	 The Pro Forma Group Structure Chart. 



  
 96 













 PART II 

Conditions precedent to be satisfied by an Additional Obligor 
  


	1.	 Accession Agreement 



The Accession Agreement, duly executed by the Additional Obligor and the Borrowers. 

 

	2.	 Constitutional documents 



A copy of the articles of association and certificate of incorporation or other constitutional documents of each Additional
Obligor. 
  

	3.	 Corporate authorisations 



 

	 	(a)	 A copy of a resolution of the board of directors of the Additional Obligor: 



 

	 	(i)	 approving the terms of, and the transactions contemplated by, the Accession Agreement and resolving that it
execute the Accession Agreement; 


  

	 	(ii)	 authorising a specified person or persons to execute the Accession Agreement on its behalf;



  

	 	(iii)	 authorising a specified person or persons, on its behalf, to sign and/or despatch all documents and notices
to be signed and/or despatched by it under or in connection with this Agreement; and 


  

	 	(iv)	 (if applicable) authorising the Designated Borrower to act as its agent in connection with the Finance
Documents. 


  

	 	(b)	 A specimen of the signature of each person authorised by the resolution referred to in paragraph
(a) above. 


  

	 	(c)	 If required by law or its constitutional documents, a copy of a resolution signed by all the holders of the
issued shares of an Additional Guarantor, approving the terms of, and the transactions contemplated by, the Finance Documents to which the Additional Guarantor is a party. 



 

	 	(d)	 If required by law or its constitutional documents, a copy of a resolution of the board of directors of each
corporate shareholder of each Additional Guarantor approving the terms of the resolution referred to in paragraph (c) above. 


  

	 	(e)	 A certificate of an authorised officer of the Additional Obligor certifying that borrowing or guaranteeing
(as appropriate) the Total Commitments will not cause any borrowing or guaranteeing (as applicable) limit binding on the Additional Obligor to be exceeded. 


  

	 	(f)	 A certificate of an authorised signatory of the Additional Obligor certifying that each copy document
specified in paragraphs 2 and 3 of Part II of this Schedule 2 is correct, complete and in full force and effect as at a date no earlier than the date of the Accession Agreement. 



 

	4.	 Agent for service 



(If the Additional Obligor is not incorporated in England) a letter from a Borrower incorporated in England to that Additional
Obligor, accepting its appointment as agent for service of process to the satisfaction of the Agent. 

  
 97 














	5.	 Legal opinion 



A legal opinion of the legal advisers to the Agent in: 

 

	 	(a)	 in the jurisdiction of incorporation of the Additional Obligor; and 



 

	 	(b)	 England, 



in each case, addressed to the Finance Parties. 
  

	6.	 Miscellaneous 



 

	 	(a)	 If available, the latest audited financial statements of the Additional Obligor, unless already delivered in
accordance with this Agreement. 


  

	 	(b)	 Other than in connection with the accession of CH Topco as an Additional Guarantor as required by Clause
22.9 (Condition subsequent), evidence that the Finance Parties are satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in connection with the accession
of the Additional Obligor to this Agreement. 


  

	 	(c)	 Except with respect to an Additional Obligor incorporated in England and Wales, a copy of any other
authorisation or other document, opinion or assurance which the Agent reasonably considers to be necessary in connection with the entry into and performance of, and the transactions contemplated by, the Accession Agreement, and which is customarily
provided in transactions involving investment grade borrowers in such jurisdiction). 



  
 98 













 SCHEDULE 3 

REQUESTS 
 Part I

 Utilisation Request 

From: [Borrower] as Borrower 

To: [Agent] as Agent 

Dated: 
 Dear Sir or Madam 

GlaxoSmithKline Consumer Healthcare Holdings (No.2) Limited – £[1,500,000,000] Facility Agreement 

dated [•] 2022 (the “Agreement”) 
  

	1.	 We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the same
meaning in this Utilisation Request unless given a different meaning in this Utilisation Request. 


  

	2.	 We wish to borrow a Loan on the following terms: 



 

			
	 Borrower
	  	 [    ]

		
	 Proposed Utilisation Date:
	  	 [    ] (or, if that is not a Business Day, the next Business Day)

		
	 Currency of Loan:
	  	 sterling

		
	 Amount:
	  	 [    ] or, if less, the Available Facility

		
	 Interest Period:
	  	 [    ]


  

	3.	 We confirm that each condition specified in Clause 4.2 (Certain funds Utilisations) is
satisfied on the date of this Utilisation Request and will be satisfied on the Utilisation Date. 


  

	4.	 The proceeds of this Loan should be credited to [account]. 



 

	5.	 This Utilisation Request is irrevocable. 



 

	
	Yours faithfully
	
	   

	 authorised signatory for

[Borrower]



  
 99 













 Part II 

Selection Notice 
 From: [Borrower]
as Borrower 
 To: [Agent] as Agent 

Dated: 
 Dear Sir or Madam 

GlaxoSmithKline Consumer Healthcare Holdings (No.2) Limited –£[1,500,000,000] Facility Agreement 

dated [•] 2022 (the “Agreement”) 
  

	1.	 We refer to the Agreement. This is a Selection Notice. Terms defined in the Agreement have the same meaning
in this Selection Notice unless given a different meaning in this Selection Notice. 


  

	2.	 We refer to the Loan which has an Interest Period ending on [ ]. 



 

	3.	 We request that the next Interest Period for the Loan is [ ]. 



 

	4.	 This Selection Notice is irrevocable. 



 

	
	Yours faithfully
	
	   

	 authorised signatory for

[Borrower]



  
 100 













 SCHEDULE 4 

TIMETABLES 

					
	 	  	Loans in
sterling	 
	 Delivery of a duly completed Utilisation Request (Clause 5.1 (Delivery of a Utilisation
Request)) or a Selection 
	  	 
	U - 1
	 

	 Notice (Clause 11.1) (Selection of Interest Periods)
	  	 
	9:00am
	 

		
	 Agent notifies the Lenders under Clause 5.4(c) (Lenders’ participation)
	  	 
	U - 1
	 

		  	 
	11:00am
	 



	
	 U = Utilisation Date
  

U-x = x Business Days prior to Utilisation



  
 101 













 SCHEDULE 5 

FORM OF INCREASE CONFIRMATION 

To: [Agent] as Agent and [Borrower] and [Borrower] as Borrowers 

From: [Increase Lender] (the “Increase Lender”) 

Dated: 
 Dear Sir or Madam 

GlaxoSmithKline Consumer Healthcare Holdings (No.2) Limited –£[1,500,000,000] Facility Agreement 

dated [•] 2022 (the “Agreement”) 
  

	1.	 We refer to the Agreement. This is an Increase Confirmation. Terms defined in the Agreement have the same
meaning in this Increase Confirmation unless given a different meaning in this Increase Confirmation. 


  

	2.	 We refer to Clause 2.2 (Increase) of the Agreement. 



 

	3.	 The Increase Lender agrees to assume and will assume all of the obligations corresponding to the Commitment
specified in the Schedule (the “Relevant Commitment”) as if it was an Original Lender under the Agreement in respect of the Relevant Commitments. 



 

	4.	 The proposed date on which the increase in relation to the Increase Lender and the Relevant Commitment is to
take effect (the “Increase Date”) is [ ]. 


  

	5.	 On the Increase Date, the Increase Lender becomes party to the Finance Documents as a Lender.



  

	6.	 The Facility Office and address and attention details for notices to the Increase Lender for the purposes of
Clause 31.2 (Addresses) of the Agreement are set out in the Schedule. 


  

	7.	 The Increase Lender expressly acknowledges the limitations on the Lenders’ obligations referred to in
paragraph (f) of Clause 2.2 (Increase) of the Agreement. 


  

	8.	 The Increase Lender confirms, for the benefit of the Agent and the Borrowers, that it is:



  

	 	(a)	 [a Qualifying Lender (other than a Treaty Lender);] 



 

	 	(b)	 [a Treaty Lender;] 



 

	 	(c)	 [not a Qualifying Lender]. 



 

	9.	 [The Increase Lender confirms that it holds a passport under the HMRC DT Treaty Passport scheme (reference
number [ ]) and is tax resident in [ ], so that interest payable to it by borrowers is generally subject to full exemption from UK withholding tax and that it wishes the scheme to apply to the Agreement.] 



 

	[9/10].	 [The Increase Lender confirms that the person beneficially entitled to interest payable to that Lender in
respect of an advance under a Finance Document is either: 


  

	 	(a)	 a company resident in the United Kingdom for United Kingdom tax purposes; 



  
 102 














	 	(b)	 a partnership each member of which is: 



 

	 	(i)	 company so resident in the United Kingdom; or 



 

	 	(ii)	 a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a
permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of
the CTA; or 


  

	 	(c)	 a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a
permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits (within the meaning of section 19 of the CTA) of that
company.]1 


  

			
	 [9/.10./11.]
	 	 The Increase Lender confirms that it is not a Defaulting Lender.

		
	 [10./11./12.].
	 	 This Increase Confirmation may be executed in any number of counterparts and this has the same effect as if the signatures
on the counterparts were on a single copy of this Increase Confirmation.

		
	 [11./12./13.]
	 	 This Increase Confirmation and any non-contractual obligations arising out of or in
connection with it are governed by English law.

		
	 [12./13./14.]
	 	 This Increase Confirmation has been entered into on the date stated at the beginning of this Increase
Confirmation.


   

 

	1 	 Include only if the Increase Lender has confirmed that it is not a Qualifying Lender and if the confirmation
in this paragraph is correct in respect of it. 



  
 103 













 THE SCHEDULE 

Relevant Commitment/rights and obligations to be assumed by the Increase Lender 

[insert relevant details] 

[Facility office address and attention details for notices and account details for payments] 

[Increase Lender] 
 By: 

This Increase Confirmation is accepted as an Increase Confirmation for the purposes of the Agreement by the Agent and the Increase Date is
confirmed as [     ]. 
 [Agent] 

By: 

  
 104 













 SCHEDULE 6 

FORM OF ASSIGNMENT AGREEMENT 
 To:
[Agent] as Agent and [Borrower] and [Borrower] as Borrowers 
 From: [The Existing Lender] (the
“Existing Lender”) and [The New Lender] (the “New Lender”) 
 Dated: 

Dear Sir or Madam 
 GlaxoSmithKline Consumer
Healthcare Holdings (No.2) Limited –£[1,500,000,000] Facility Agreement 
 dated [•] 2022 (the “Agreement”)

  

	1.	 We refer to the Agreement. This is an Assignment Agreement. Terms defined in the Agreement have the same
meaning in this Assignment Agreement unless given a different meaning in this Assignment Agreement. 


  

	2.	 We refer to Clause 24.7 (Procedure for assignment) of the Agreement: 



 

	 	(a)	 The Existing Lender assigns absolutely to the New Lender all the rights of the Existing Lender under the
Agreement and the other Finance Documents which relate to that portion of the Existing Lender’s Commitment(s) and participations in Loans under the Agreement as specified in the Schedule. 



 

	 	(b)	 The Existing Lender is released from all the obligations of the Existing Lender which correspond to that
portion of the Existing Lender’s Commitment(s) and participations in Loans under the Agreement specified in the Schedule. 


  

	 	(c)	 The New Lender becomes a Party as a Lender and is bound by obligations equivalent to those from which the
Existing Lender is released under paragraph (b) above. 


  

	3.	 The proposed Transfer Date is [ ]. 



 

	4.	 On the Transfer Date the New Lender becomes Party to the Finance Documents as a Lender.



  

	5.	 [The Facility Office and address and attention details for notices of the New Lender for the purposes of
Clause 31.2 (Addresses) of the Agreement are set out in the Schedule.] 


  

	6.	 The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out in
paragraph (c) of Clause 24.5 (Limitation of responsibility of Existing Lenders) of the Agreement. 


  

	7.	 The New Lender confirms, for the benefit of the Agent and the Borrowers that it is: 



 

	 	(a)	 [a Qualifying Lender (other than a Treaty Lender);] 



 

	 	(b)	 [a Treaty Lender;] 



 

	 	(c)	 [not a Qualifying Lender]. 



 

	[8.]	 [The New Lender confirms that the person beneficially entitled to interest payable to that Lender in respect
of an advance under a Finance Document is either: 



  
 105 














	 	(a)	 a company resident in the United Kingdom for United Kingdom tax purposes; 



 

	 	(b)	 a partnership each member of which is: 



 

	 	(i)	 company so resident in the United Kingdom; or 



 

	 	(ii)	 a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a
permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of
the CTA; or 


  

	 	(c)	 a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a
permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits (within the meaning of section 19 of the CTA) of that
company.]2 


  

			
	[8./9.]	 	 [The New Lender confirms that it holds a passport under the HMRC DT Treaty Passport scheme (reference number [ ]) and is
tax resident in [ ], so that interest payable to it by borrowers is generally subject to full exemption from UK withholding tax and that it wishes that scheme to apply to the Agreement.]

		
	[8/9/10]	 	 This Assignment Agreement acts as notice to the Agent (on behalf of each Finance Party) and, upon delivery in accordance
with Clause 24.8 (Copy of Transfer Certificate, Assignment Agreement or Increase Confirmation to the Borrowers) of the Agreement, to the Obligors of the assignment referred to in this Assignment Agreement.

		
	[9/10/11]	 	 This Assignment Agreement may be executed in any number of counterparts and this has the same effect as if the signatures
on the counterparts were on a single copy of this Assignment Agreement.

		
	[10/11/12].	 	 This Assignment Agreement and any non-contractual obligations arising out of or in
connection with it are governed by English law.

		
	[11/12/13].	 	 This Assignment Agreement has been entered into on the date stated at the beginning of this Assignment
Agreement.



	


	


	


	


	

  

	2 	 Include only if the New Lender has confirmed that it is not a Qualifying Lender and if the confirmation in
this paragraph is correct in respect of it. 



  
 106 













 THE SCHEDULE 

Rights to be assigned and obligations to be released and undertaken 

[insert relevant details] 

[Facility office address and attention details for notices 

and account details for payments] 
  

			
	 [Existing Lender]
	 	 [New Lender]

		
	 By:
	 	 By:


 This Assignment Agreement is accepted by the Agent and the Transfer Date is confirmed as [   ]. 

Signature of this Assignment Agreement by the Agent constitutes confirmation by the Agent of receipt of notice of the assignment referred to
herein, which notice the Agent receives on behalf of each Finance Party. 
 [Agent] 

By: 

  
 107 













 SCHEDULE 7 

FORM OF TRANSFER CERTIFICATE 
 To:
[Agent] as Agent 
 From: [The Existing Lender] (the “Existing Lender”) and [The New Lender] (the
“New Lender”) 
 Dated: 

Dear Sir or Madam 
 GlaxoSmithKline Consumer
Healthcare Holdings (No.2) Limited –£[1,500,000,000] Facility Agreement 
 dated [•] 2022 (the “Agreement”)

  

	1.	 We refer to the Agreement. This is a Transfer Certificate. Terms defined in the Agreement have the same
meaning in this Transfer Certificate unless given a different meaning in this Transfer Certificate. 


  

	2.	 We refer to Clause 24.6 (Procedure for transfer) of the Agreement: 



 

	 	(a)	 The Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender by
novation, and in accordance with Clause 24.6 (Procedure for transfer) of the Agreement, all of the Existing Lender’s rights and obligations under the Agreement and the other Finance Documents which relate to that portion of the Existing
Lender’s Commitment(s) and participations in Loans under the Agreement as specified in the Schedule. 


  

	 	(b)	 The proposed Transfer Date is [ ]. 



 

	 	(c)	 [The Facility Office and address and attention details for notices of the New Lender for the purposes of
Clause 31.2 (Addresses) of the Agreement are set out in the Schedule.] 


  

	3.	 The New Lender confirms, for the benefit of the Agent and the Borrowers, that it is: 



 

	 	(a)	 [a Qualifying Lender (other than a Treaty Lender);] 



 

	 	(b)	 [a Treaty Lender;] 



 

	 	(c)	 [not a Qualifying Lender]. 



[4.] [The New Lender confirms that the person beneficially entitled to interest payable to that Lender in respect of an advance under a Finance
Document is either: 
  

	 	(a)	 a company resident in the United Kingdom for United Kingdom tax purposes; 



 

	 	(b)	 a partnership each member of which is: 



 

	 	(i)	 company so resident in the United Kingdom; or 



 

	 	(ii)	 a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a
permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of
the CTA; or 



  
 108 














	 	(c)	 a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a
permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits (within the meaning of section 19 of the CTA) of that
company.]3 


  

			
	 [4/5]
	  	 [The New Lender confirms that it holds a passport under the HMRC DT Treaty Passport scheme (reference number [ ]) and is
tax resident in [ ], so that interest payable to it by borrowers is generally subject to full exemption from UK withholding tax and that it wishes that scheme to apply to the Agreement.]

		
	 [4/5/6].
	  	 This Transfer Certificate may be executed in any number of counterparts and this has the same effect as if the signatures
on the counterparts were on a single copy of this Transfer Certificate.

		
	 [5/6/7].
	  	 This Transfer Certificate and any non-contractual obligations arising out of or in
connection with it are governed by English law.

		
	 [6/7/8].
	  	 This Transfer Certificate has been entered into on the date stated at the beginning of this Transfer
Certificate.



	


	

  

	3 	 Include only if the New Lender has confirmed that it is not a Qualifying Lender and if the confirmation in
this paragraph is correct in respect of it. 



  
 109 













 THE SCHEDULE 

Commitment/rights and obligations to be transferred 

[insert relevant details] 

[Facility Office address and attention details for notices and account details for payments,] 

 

			
	 [Existing Lender]
	  	 [New Lender]

		
	 By:
	  	 By:


 This Transfer Certificate is accepted by the Agent and the Transfer Date is confirmed as [ ]. 

[Agent] 
 By: 

  
 110 













 SCHEDULE 8 

FORM OF ACCESSION AGREEMENT 
  

	To:    [Agent]	 as Agent 


  

	From:	 [Proposed Borrower] (the “Proposed Borrower”)/ [Proposed Guarantor] (the
“Proposed Guarantor”) and [Borrower] as Designated Borrower 


 Dated: 

Dear Sir or Madam 
 GlaxoSmithKline Consumer
Healthcare Holdings (No.2) Limited –£[1,500,000,000] Facility Agreement 
 dated [•] 2022 (the “Agreement”)

  

	1.	 We refer to [Clause 25.4 (Additional Borrowers) / Clause 25.5 (Additional Guarantors)] of the
Agreement. This is an Accession Agreement. 


  

	2.	 [Legal name of [Proposed Borrower] / [Proposed Guarantor] of [Registered Office] (Registered no. [ ]) [(the
“Proposed Borrower”) / (the “Proposed Guarantor”) agrees to become an [Additional Borrower / Additional Guarantor] and to be bound by the terms of the Agreement as an [Additional Borrower / Additional Guarantor] in
accordance with [Clause 25.4 (Additional Borrowers) / Clause 25.5 (Additional Guarantors)] of the Agreement. 


  

	3.	 The address for notices of the [Proposed Borrower / Proposed Guarantor] for the purposes of Clause 31.2
(Addresses) of the Agreement is: 


 [     ] 

This Accession Agreement is governed by English law. 

[Proposed Borrower] / [Proposed Guarantor] 

By: 
 [Designated
Borrower] 
 By: 

  
 111 













 SCHEDULE 9 

REFERENCE RATE TERMS 
  

			
	 CURRENCY:
	  	 Sterling.

		
	 Cost of funds as a fallback
	  	
		
	 Cost of funds will not apply as a fallback.
	  	
		
	 Definitions
	  	
		
	 Additional Business Days:
	  	 An RFR Banking Day.

		
	 Business Day Conventions (definition of “Month” and Clause 11.2 (Non-Business Days)):
	  	 (a)   If any period is expressed to accrue by reference to a
Month or any number of Months then, in respect of the last Month of that period:

		
		  	 (i) subject to paragraph (iii) below, if the numerically
corresponding day is not a Business Day, that period shall end on the next Business Day in that calendar month in which that period is to end if there is one, or if there is not, on the immediately preceding Business Day;

		
		  	 (ii)  if there is no numerically corresponding day in the calendar
month in which that period is to end, that period shall end on the last Business Day in that calendar month; and

		
		  	 (iii)  if an Interest Period begins on the last Business Day of a
calendar month, that Interest Period shall end on the last Business Day in the calendar month in which that Interest Period is to end.

		
		  	 (b)   If an Interest Period would otherwise end on a day
which is not a Business Day, that Interest Period will instead end on the next Business Day in that calendar month (if there is one) or the preceding Business Day (if there is not).

		
	Central Bank Rate:	  	 The Bank of England’s Bank Rate as published by the Bank of England from time to time.

		
	Central Bank Rate Adjustment:	  	 In relation to the Central Bank Rate prevailing at close of business on any RFR Banking Day, the 20 per cent
trimmed arithmetic mean (calculated by the Agent (or by any other Finance Party which agrees to do so in place of the Agent)) of the Central Bank Rate Spreads for the five most immediately preceding RFR Banking Days for which the RFR is
available.



  
 112 














					
		
	Central Bank Rate Spread:	  	 In relation to any RFR Banking Day, the difference (expressed as a percentage rate per annum) calculated by
the Agent (or by any other Finance Party which agrees to do so in place of the Agent) between:
  

(a)   the RFR for the RFR Banking Day; and

 

(b)   the Central Bank Rate prevailing at the close of business on that RFR Banking
Day.

			
	Credit Adjustment Spread	  	 1 week 
	  	 [***] per cent. per annum

			
		  	 Greater than 1 week but less than or equal to 1 month 
	  	 [***] per cent. per annum

			
		  	 Greater than 1 month but less than or equal to 2 months 
	  	 [***] per cent. per annum

			
		  	 Greater than 2 months but less than or equal to 3 months 
	  	 [***] per cent. per annum

			
		  	 Greater than 3 months but less than or equal to 6 months 
	  	 [***] per cent. per annum

		
	Daily Rate:	  	 The “Daily Rate” for any RFR Banking Day is:

		
		  	 (a)   the RFR for that RFR Banking Day;
or

		
		  	 (b)   if the RFR is not available for that RFR
Banking Day, the percentage rate per annum which is the aggregate of:

		
		  	 (i) the Central Bank Rate for that RFR Banking Day;
and

		
		  	 (ii)  the applicable Central Bank Rate Adjustment;
or

		
		  	 (c)   if paragraph (b) above applies but the
Central Bank Rate for that RFR Banking Day is not available, the percentage rate per annum which is the aggregate of:

		
		  	 (i) the most recent Central Bank Rate for a day which is no
more than five RFR Banking Days before that RFR Banking Day; and



  
 113 














			
		  	 (ii)  the applicable Central Bank Rate Adjustment,

		
		  	 rounded, in either case, to four decimal places and if, in either case, the aggregate of that rate and the applicable
Credit Adjustment Spread is less than zero, the Daily Rate shall be deemed to be such a rate that the aggregate of the Daily Rate and the applicable Credit Adjustment Spread is zero.

		
	Lookback Period:	  	 Five RFR Banking Days.

		
	Relevant Interbank Market:	  	 The sterling wholesale market.

		
	Reporting Day:	  	 The day which is the Lookback Period prior to the last day of the Interest Period or, if that day is not a Business Day,
the immediately following Business Day.

		
	RFR:	  	 The SONIA (sterling overnight index average) reference rate displayed on the relevant screen of any authorised
distributor of that reference rate.

		
	RFR Banking Day:	  	 A day (other than a Saturday or Sunday) on which banks are open for general business in London.

		
	Interest Periods:	  	
		
	Periods capable of selection as Interest Periods (paragraph (d) of Clause 11.1 (Selection of Interest Periods)):	  	One week, one month, two months, three months or six months.
		
	Reporting Times:	  	
		
	Deadline for Lenders to report their cost of funds in accordance with Clause 12.2 (Cost of funds):	  	N/A


  
 114 













 SCHEDULE 10 

DAILY NON-CUMULATIVE COMPOUNDED RFR RATE 

The “Daily Non-Cumulative Compounded RFR Rate” for any RFR Banking Day
“i” during an Interest Period for a Loan is the percentage rate per annum (without rounding, to the extent reasonably practicable for the Finance Party performing the calculation, taking into account the capabilities of any software
used for that purpose) calculated as set out below: 
  
 



 
 where: 

“UCCDRi” means the Unannualised Cumulative Compounded Daily
Rate for that RFR Banking Day “i”; 
 “UCCDRi-1” means, in relation to that RFR Banking Day “i”, the Unannualised Cumulative Compounded Daily Rate for the immediately preceding RFR Banking Day (if any) during that Interest
Period; 
 “dcc” means 365 or, in any case where market practice in the Relevant Interbank Market is to use a different
number for quoting the number of days in a year, that number; 

“ni” means the number of calendar days from, and including,
that RFR Banking Day “i” up to, but excluding, the following RFR Banking Day; and 
 the “Unannualised Cumulative
Compounded Daily Rate” for any RFR Banking Day (the “Cumulated RFR Banking Day”) during that Interest Period is the result of the below calculation (without rounding, to the extent reasonably practicable for the Finance
Party performing the calculation, taking into account the capabilities of any software used for that purpose): 
  
 



 
 where: 

“ACCDR” means the Annualised Cumulative Compounded Daily Rate for that Cumulated RFR Banking Day; 

“tni” means the number of calendar days from,
and including, the first day of the Cumulation Period to, but excluding, the RFR Banking Day which immediately follows the last day of the Cumulation Period; 

“Cumulation Period” means the period from, and including, the first RFR Banking Day of that Interest Period
to, and including, that Cumulated RFR Banking Day; 
 “dcc” has the meaning given to that term above; and

 the “Annualised Cumulative Compounded Daily Rate” for that Cumulated RFR Banking Day is the percentage
rate per annum (rounded to the same number of decimal places as the applicable Daily Rate) calculated as set out below: 
  





 
 where: 

“d0” means the number of RFR Banking Days in
the Cumulation Period; 

  
 115 













 “Cumulation Period” has the meaning given to that term
above; 
 “i” means a series of whole numbers from one to d0, each representing the relevant RFR Banking Day
in chronological order in the Cumulation Period; 
 “DailyRatei-LP”
means, for any RFR Banking Day “i” in the Cumulation Period, the Daily Rate for the RFR Banking Day which is the applicable Lookback Period prior to that RFR Banking Day “i”; 

“ni” means, for any RFR Banking Day
“i” in the Cumulation Period, the number of calendar days from, and including, that RFR Banking Day “i” up to, but excluding, the following RFR Banking Day; 

“dcc” has the meaning given to that term above; and 

“tni” has the meaning given to that term above.


  
 116 














			
	SIGNATURES
	
	THE ORIGINAL BORROWER
	
	 For and on behalf of

	GLAXOSMITHKLINE CONSUMER HEALTHCARE HOLDINGS (NO.2) LIMITED


			
		
	By:	 	/s/ Mike Rowe
	Name:	 	Mike Rowe
	Title:	 	Head of Treasury Consumer Healthcare
	Address:	 	Treasury Department
		 	980 Great West Road
		 	Brentford
		 	Middlesex TW8 9GS
		 	United Kingdom
	Attention:	 	Senior Vice President, Group Treasurer
	Telephone:	 	[***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














	
	THE ARRANGERS
	
	 For and on behalf of

	BANK OF AMERICA EUROPE DESIGNATED ACTIVITY COMPANY


			
		
	 By:
	 	 /s/ Scot P. Mitchell

	 Name:
	 	 Scot P. Mitchell

	 Title:
	 	 Managing Director

	 Address:
	 	 2 King Edward Street, London, EC1A 1HQ

	 Attention:
	 	 Scot P. Mitchell

	 Telephone:
	 	 [***]



  
 Signature page to the
Project Gold 
 Term Facility Agreement 














									
	 For and on behalf of
	 		 	
	 BANCO SANTANDER, S.A., LONDON BRANCH
	 		 	


									
					
	By:	 	/s/ Craig Macfarlane	 		 		 	/s/ David Navalon
	Name:	 	Craig Macfarlane	 		 		 	David Navalon
	Title:	 	Executive Director	 		 		 	Executive Director
	Address:	 	2 Triton Square, London, NW1 3AN	 		 		 	
	Attention:	 	Greg Dixon and Oliver Thomas	 		 		 	
	Telephone:	 	[***] / [***]	 		 		 	


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	BARCLAYS BANK PLC
		
	By:	 	/s/ Roger Cosby
	Name:	 	Roger Cosby
	Title:	 	Director
	Address:	 	1 Churchill Place, London, E14 5HP
	Attention:	 	Daniel Scoines
	Telephone:	 	[***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














									
	 For and on behalf of
	 		 	
	 BNP PARIBAS
	 		 	


									
					
	By:	 	 /s/ Leroy Knowles
	 		 		 	 /s/ Elizabeth Corkett

	Name:	 	 Leroy Knowles
	 		 		 	 Elizabeth Corkett

	Title:	 	 Managing Director
	 		 		 	 Legal Counsel

	Address:	 	 10 Harewood Avenue, London, NW1 6AA
	 		 		 	
	Attention:	 	 Damien Christou
	 		 		 	
	Telephone:	 	[***] 	 		 		 	


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	CITIBANK, N.A., LONDON BRANCH
		
	By:	 	/s/ D.M. Walker
	Name:	 	D.M. Walker
	Title:	 	Managing Director
		
	Address:	 	
		
	Attention:	 	
		
	Telephone:	 	


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














									
	 For and on behalf of
	 		 	
	 DEUTSCHE BANK AG, LONDON BRANCH
	 		 	


									
					
	By:	 	 /s/ Mark Lewellen
	 		 	By:	 	 /s/ Violaine Averous

	Name:	 	 Mark Lewellen
	 		 	Name:	 	 Violaine Averous

	Title:	 	 Managing Director
	 		 	Title:	 	 Director



									
	Address:	 		 		 		 	
	Attention:	 		 		 		 	
	Telephone:	 		 		 		 	


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	GOLDMAN SACHS BANK USA


			
		
	By:	 	/s/ Daisy Fox
	Name:	 	Daisy Fox
	Title:	 	Authorised Signatory
	Address:	 	Plumtree Court, 25 Shoe Lane, London EC4A 4AU
	Attention:	 	Nikita Wadhwa
	Telephone:	 	[***] / [***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	HSBC BANK PLC
		
	By:	 	/s/ Saul Thomas
	Name:	 	Saul Thomas
	Title:	 	Director, UK Banking
	Address:	 	Level 2, 8 Canada Square, London, E14 5HQ
	Attention:	 	Saul Thomas
	Telephone:	 	[***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	J.P. MORGAN SECURITIES PLC
		
	By:	 	/s/ Jameson Markham
	Name:	 	Jameson Markham
	Title:	 	Managing Director
	Address:	 	jamie.j.markham@jpmorgan.com
	Attention:	 	Jameson Markham
	Telephone:	 	[***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	 For and on behalf of

	 MIZUHO BANK, LTD.

		
	 By:
	 	 /s/ Mark Ralston

	 Name:
	 	 Mark Ralston

	 Title:
	 	 Senior Director

	 Address:
	 	
	 Attention:
	 	
	 Telephone:
	 	


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	MORGAN STANLEY BANK INTERNATIONAL LIMITED
		
	By:	 	/s/ Andrea Hutchinson
	Name:	 	Andrea Hutchinson
	Title:	 	Authorised Signatory
	Address:	 	122 Waterloo Street, Glasgow G2 7DP, United Kingdom
	Attention:	 	 Operations (inquiries only): Gary Sutherland/Anne Blanco

Legal documentation, amendments and waivers: David Kyle


	Telephone:	 	Servicing: ldnservicing@morganstanley.com
		 	Settlement: secondarytrades@morganstanley.com
		 	Escalation: euloancontrol@morganstanley.com
		 	Legal documentation, amendments & waivers: Gla.Loandocs@morganstanley.com


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	STANDARD CHARTERED BANK (HONG KONG) LIMITED


			
		
	By:	 	/s/ Helen Hui
	Name:	 	Helen Hui
	Title:	 	Managing Director, Head, Client Coverage, Corporate, Commercial and Institutional Banking, Hong Kong
	Address:	 	
	Attention:	 	
	Telephone:	 	


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	THE COORDINATOR
	
	For and on behalf of
	BANK OF AMERICA EUROPE DESIGNATED ACTIVITY COMPANY


			
		
	By:	 	/s/ Scot P. Mitchell
	Name:	 	Scot P. Mitchell
	Title:	 	Managing Director
	Address:	 	2 King Edward Street
		 	London EC1A 1HQ
	Attention:	 	Scot P. Mitchell
	Telephone:	 	[***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	THE ORIGINAL LENDERS
	
	For and on behalf of
	BANK OF AMERICA, N.A., LONDON BRANCH
		
	By:	 	/s/ Khairul Islam
	Name:	 	Khairul Islam
	Title:	 	Director
	Address:	 	2 King Eward Street, London, EC1A 1HQ
	Attention:	 	Agnieszka Brousson
	Telephone:	 	[***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














							
	For and on behalf of
	BANCO SANTANDER, S.A., LONDON BRANCH


							
				
	By:	 	/s/ Craig Macfarlane	 		 	/s/ David Navalon
	Name:	 	Craig Macfarlane	 		 	 David Navalon

	Title:	 	Executive Director	 		 	Executive Director
	Address:	 	 2 Triton Square, London, NW1 3AN

	Attention:	 	 Greg Dixon and Oliver Thomas

	Telephone:	 	 [***] / [***]



  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	BARCLAYS BANK PLC
		
	By:	 	/s/ Roger Cosby
	Name:	 	Roger Cosby
	Title:	 	Director
	Address:	 	1 Churchill Place, London, E14 5HP
	Attention:	 	Daniel Scoines
	Telephone:	 	[***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 













 For and on behalf of 

PARIBAS FORTIS SA/NV 
  

							
	By:	 	/s/ Alain Vanden Haute	 		 	/s/ Helena Dziewaltowska
	Name:	 	Alain Vanden Haute	 		 	 Helena Dziewaltowska

	Title:	 	Business Management	 		 	Director
		 	Capital Markets EMEA	 		 	
	Address:	 	 10 Harewood Avenue, London, NW1 6AA

	Attention:	 	 Damien Christou

	Telephone:	 	 [***]



  
 Signature page to the
Project Gold 
 Term Facility Agreement 














							
	For and on behalf of
	BNP PARIBAS
				
	By:	 	/s/ Leroy Knowles	 		 	/s/ Elizabeth Corkett
	Name:	 	Leroy Knowles	 		 	 Elizabeth Corkett

	Title:	 	Managing Director	 		 	Legal Counsel
	Address:	 	 10 Harewood Avenue, London, NW1 6AA

	Attention:	 	 Damien Christou

	Telephone:	 	 [***]



  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	CITIBANK N.A., LONDON BRANCH
		
	By:	 	/s/ D.M. Walker
	Name:	 	D.M. Walker
	Title:	 	Managing Director
	Address:	 	
	Attention:	 	
	Telephone:	 	


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














							
	For and on behalf of
	DEUTSCHE BANK AG, LONDON BRANCH
				
	By:	 	/s/ Mark Lewellen	 		 	/s/ Violaine Averous
	Name:	 	Mark Lewellen	 		 	 Violaine Averous

	Title:	 	Managing Director	 		 	Director
	Address:	 	
	Attention:
	Telephone:


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	GOLDMAN SACHS BANK USA
		
	By:	 	/s/ Daisy Fox
	Name:	 	Daisy Fox
	Title:	 	Authorised Signatory
	Address:	 	Plumtree Court, 25 Shoe Lane, London EC1A 4AU
	Attention:	 	Nikita Wadhwa
	Telephone:	 	[***] / [***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	HSBC BANK PLC
		
	By:	 	/s/ Saul Thomas
	Name:	 	Saul Thomas
	Title:	 	Director, UK Banking
	Address:	 	Level 2, 8 Canada Square, London, E14 5HQ
	Attention:	 	Saul Thomas
	Telephone:	 	[***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	JPMORGAN CHASE BANK, N.A., LONDON BRANCH
		
	By:	 	/s/ Ursula Murphy
	Name:	 	Ursula Murphy
	Title:	 	Vice President
	Address:	 	ursula.murphy@jpmorgan.com
	Attention:	 	Ursula Murphy
	Telephone:	 	[***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	MIZUHO BANK, LTD.
		
	By:	 	/s/ Mark Ralston
	Name:	 	Mark Ralston
	Title:	 	Senior Director
	Address:	 	
	Attention:	 	
	Telephone:	 	


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	MORGAN STANLEY BANK N.A.
		
	By:	 	/s/ Jennifer DeFazio
	Name:	 	Jennifer DeFazio
	Title:	 	Authorized Signatory
	Address:	 	One Utah Centre, 201 South Main Street,
Salt Lake City, Utah, 84111 USA
	Attention:	 	Loanservicing@morganstanley.com
	Telephone:	 	[***]


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	For and on behalf of
	STANDARD CHARTERED BANK (HONG KONG) LIMITED
		
	By:	 	/s/ Helen Hui
	Name:	 	Helen Hui
	Title:	 	Managing Director, Head, Client Coverage, Corporate, Commercial and Institutional Banking, Hong Kong
	Address:	 	
	Attention:	 	
	Telephone:	 	


  
 Signature page to the
Project Gold 
 Term Facility Agreement 














			
	THE AGENT
	
	For and on behalf of
	HSBC BANK PLC
		
	By:	 	/s/ Peter Irvine
	Name:	 	Peter Irvine
	Title:	 	Authorised Signatory
	Address:	 	HSBC Bank plc, Issuer Services, Level 22,
8 Canada Square London E14 5HQ
	Attention:	 	Agent –Issuer Services
	Telephone:	 	N/A
	E-mail:	 	Borrower operational requests only –lag.fax@hsbcib.com
		 	All other queries – lad.agency.pef.loans@hsbc.com


  
 Signature page to the
Project Gold 
 Term Facility Agreement