Exhibit 10.1


 


EXECUTION VERSION


 


AMENDMENT NO. 4 TO CREDIT AGREEMENT 


 


This AMENDMENT NO.
4 TO CREDIT AGREEMENT (this “Amendment”) dated as of July 26, 2018, is made by and among RPC,
INC., a Delaware corporation (the “Borrower”), the Subsidiary Loan Parties party hereto and BANK
OF AMERICA, N.A., a United States national banking association, in its capacity as administrative agent for the Lenders (as
defined in the Credit Agreement referred to below) (in such capacity, the “Administrative Agent”) and
as Swing Line Lender and L/C Issuer, each of the Lenders under such Credit Agreement signatory hereto, and each of the Subsidiary
Loan Parties (as defined in the Credit Agreement) signatory hereto.


 


WITNESSETH:


 


WHEREAS, the
Borrower, Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and the Lenders have entered into that
certain Credit Agreement dated as of August 31, 2010 (as amended by that certain Amendment No. 1 to Credit Agreement dated as of
June 16, 2011, as further amended by that certain Amendment No. 2 to Credit Agreement and Amendment No. 1 to Subsidiary Guaranty
Agreement dated as of January 17, 2014, as further amended by that certain Amendment No. 3 to Credit Agreement dated as of June
30, 2016, as hereby amended and as further amended, modified, supplemented, restated, or amended and restated, the “Credit
Agreement”; capitalized terms used in this Amendment not otherwise defined herein shall have the respective meanings
given thereto in the Credit Agreement), pursuant to which the Lenders have made available to the Borrower a revolving credit facility,
including a letter of credit facility and a swing line facility; and


 


WHEREAS, each
of the Subsidiary Loan Parties has entered into a Subsidiary Guaranty pursuant to which it has guaranteed the payment and performance
of the obligations of the Borrower under the Credit Agreement and the other Loan Documents; and


 


WHEREAS, the
Borrower has requested that the Administrative Agent and the Lenders amend the Credit Agreement in such a manner that, upon giving
effect to such amendments, the Credit Agreement as so amended would contain the terms, covenants, conditions and other provisions
as contained in the form of Credit Agreement set forth as Annex A to this Amendment (the “Consolidated Form Credit
Agreement”), and the Administrative Agent and the Lenders signatory hereto are willing to effect such amendments
on the terms and conditions contained in this Amendment.


 


NOW, THEREFORE,
in consideration of the premises and further valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:


 




     


     


    

 


		1.	Amendments to Credit Agreement.



 


(a)          Subject
to the terms and conditions set forth herein, the Credit Agreement is hereby amended so that, as amended, it shall read as set
forth in, and shall have the terms, covenants, conditions and other provisions of, the Consolidated Form Credit Agreement, the
terms, covenants, conditions and other provisions of which Consolidated Form Credit Agreement are hereby incorporated by reference
into this Amendment as if fully set forth herein. The parties hereto acknowledge and agree that each amendment to the Credit Agreement
reflected in the Consolidated Form Credit Agreement is and shall be effective as if individually specified in this Amendment (the
parties further acknowledging that amending the Credit Agreement by reference to the Consolidated Form Credit Agreement provides
a convenience to the parties to permit the amended terms to be read in the context of the full Credit Agreement), and that this
Amendment is not a novation of the Credit Agreement or of any credit facility or guaranty provided thereunder or in respect thereof.
Schedule 2.01 of the Credit Agreement is hereby amended in its entirety by replacing such Schedule with Schedule 2.01 attached
to the Consolidated Form Credit Agreement. Exhibit D of the Credit Agreement is hereby amended in its entirety by replacing such
Exhibit with Exhibit D attached to the Consolidated Form Credit Agreement.. The signature pages contained in the Consolidated
Form Credit Agreement and the remaining Schedules and Exhibits may be left off. Notwithstanding that the cover page of the Consolidated
Form Credit Agreement is dated “as of August 31, 2010” and Section 4.01 of the Consolidated Form Credit Agreement
attached hereto contains those conditions which were applicable to the initial Closing Date of August 31, 2010, the changes to
the Credit Agreement effected by this Amendment shall be effective as of the satisfaction to the conditions to effectiveness set
forth in Section 2 of this Amendment.


 


(b)          The
parties hereto acknowledge and agree that (i) immediately prior to effectiveness of the amendments set forth in Section 2
of this Amendment, Regions Bank has assigned its Commitment (and any Committed Loans made thereunder) to Bank of America, N.A.
and no longer constitutes a “Lender” under the Loan Documents and (ii) upon effectiveness of the amendments set forth
herein, the Commitments are redistributed in accordance with Schedule 2.01 hereof without need for further assignment documentation.


 


2.            Effectiveness;
Conditions Precedent. The effectiveness of this Amendment and the effectiveness of the amendments to the Credit Agreement
attached hereto as herein provided are subject to the satisfaction of the following conditions precedent:


 


(a)           the
Administrative Agent shall have received each of the following documents or instruments in form and substance reasonably acceptable
to the Administrative Agent:


 


(i)            counterparts
of this Amendment duly executed by the Borrower, each Subsidiary Loan Party, each Lender, the L/C Issuers, the Swing Line Lender
and the Administrative Agent;


 


(ii)           a
certificate for each Loan Party certifying the name, title and true signature of each Responsible Officer of the applicable Loan
Party, that there have been no changes, amendments or modifications to the articles or certificate of incorporation, certificate
of organization or limited partnership, or other registered organizational documents of the applicable Loan Party (or certification
as to such amended or altered organization documents), or the bylaws, or partnership agreement or limited liability company agreement
of the applicable Loan Party delivered by the Borrower to the Administrative Agent on or prior to the date hereof and attaching
a certificate of good standing or existence, as may be available from the Secretary of State of the jurisdiction of organization
of the applicable Loan Party and resolutions of the board of directors or other equivalent governing body of each Loan Party authorizing
the execution, delivery and performance of the Amendment;


 




    	2



     


    

 


(iii)          a
certificate of a responsible officer of each Loan Party either (A) attaching copies of all consents, licenses and approvals required
in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of this
Amendment, and such consents, licenses and approvals shall be in full force and effect, or (B) stating that no such consents, licenses
or approvals are so required;


 


(iv)          a
certificate signed by a Responsible Officer of the Borrower certifying (A) that there has been no event or circumstance since December
31, 2017 that has had or would be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect,
and (B) as to the absence of any action, suit, investigation or proceeding pending, or to the knowledge of the Borrower, threatened
in any court or before any arbitrator or governmental authority that would reasonably be expected to have a Material Adverse Effect;


 


(v)           the
Administrative Agent shall have received financial projections for the Borrower and its Subsidiaries for the five (5) fiscal years
succeeding the date hereof;


 


(vi)          UCC
search results with respect to the Loan Parties showing only Permitted Encumbrances or other Liens acceptable to the Administrative
Agent (or pursuant to which arrangements reasonably satisfactory to the Administrative Agent shall have been made to remove any
unacceptable Liens promptly after the Closing Date); and


 


(vii)         (A)
upon the reasonable request of any Lender made at least ten (10) days prior to the date hereof, the Borrower shall have provided
to such Lender, and such Lender shall be reasonably satisfied with, the documentation and other information so requested in connection
with applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation,
the PATRIOT Act, in each case at least five (5) days prior to the date hereof; and (B) at least five (5) days prior to the date
hereof, if the Borrower constitutes a “legal entity customer” under the Beneficial Ownership Regulation it shall deliver,
to each Lender that so requests, a Beneficial Ownership Certification in relation to the Borrower.


 


(b)          All
other reasonable documented fees and expenses incurred or payable in connection with the execution and delivery of this Amendment
(including the reasonable fees and expenses of counsel to the Administrative Agent to the extent due and payable under Section
10.04 of the Credit Agreement) shall have been paid in full to the extent that an invoice for such fees and expenses has been
presented to the Borrower no later than one Business Day prior to the date hereof.


 


Without limiting the generality of the
provisions of the last paragraph of Section 9.03 of the Credit Agreement, for purposes of determining compliance with the
conditions specified in this Section 2, each Lender that has signed this Amendment shall be deemed to have consented to,
approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved
by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior
to the proposed Amendment No. 4 Effective Date specifying its objection thereto.


 




    	3



     


    

 


3.            Consent
of the Loan Parties. Each Subsidiary Loan Party hereby consents, acknowledges and agrees to the amendments set forth herein
and hereby confirms and ratifies in all respects the Subsidiary Guaranty Agreement to which such Subsidiary Loan Party is a party
(including without limitation the continuation of such Subsidiary Loan Party’s payment and performance obligations thereunder
upon and after the effectiveness of this Agreement, the amendments contemplated hereby and Cudd Pumping Services, Inc. hereby confirms
its status as a “Subsidiary Loan Party” regardless of the listing of its name on the initial signature page thereto
as Cudd Pumping, Inc. and agrees to be bound by all obligations of a “Subsidiary Loan Party” thereunder) and the enforceability
of such Subsidiary Guaranty Agreement against such Subsidiary Loan Party in accordance with its terms. Each Loan Party hereby consents,
acknowledges and agrees to the amendments set forth herein and hereby confirms and ratifies in all respects the Security Agreement
to which such Loan Party is a party (including without limitation the continuation of each Lien thereunder upon and after the effectiveness
of this Agreement and the amendments contemplated hereby) and the enforceability of the Security Agreement against such Loan Party
in accordance with its terms.


 


4.            Representations
and Warranties. In order to induce the Lenders party hereto to enter into this Amendment, each Loan Party represents and
warrants to the Administrative Agent and the Lenders as follows:


 


(a)          The
representations and warranties made by or with respect to each Loan Party in Article V of the Credit Agreement, as amended
and in each of the other Loan Documents to which such Loan Party is a party are true and correct in all material respects on and
as of the date hereof, except to the extent that such representations and warranties expressly relate to an earlier date in which
case they are true and correct as of such earlier date and except that for purposes of this Section 5, the representations
and warranties contained in Section 5.04 of the Credit Agreement shall be deemed to refer to the most recent statements
furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement;


 


(b)          The
Persons appearing as Subsidiary Loan Parties on the signature pages to this Agreement constitute all Persons who are required to
be Subsidiary Loan Parties pursuant to the terms of the Credit Agreement and the other Loan Documents, including without limitation
all Persons who became Material Domestic Subsidiaries or were otherwise required to become Subsidiary Loan Parties after the Closing
Date, and each such Person has executed and delivered a Subsidiary Guaranty Joinder Agreement;


 


(c)          This
Agreement has been duly authorized, executed and delivered by the Borrower and Subsidiary Loan Parties party hereto and constitutes
a legal, valid and binding obligation of each such party, except as may be limited by general principles of equity or by the effect
of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally
and by general principles of equity; and


 


(d)          No
Default or Event of Default has occurred and is continuing immediately after the effectiveness of this Agreement.


 




    	4



     


    

 


5.            Entire
Agreement. This Amendment, together with the other Loan Documents (collectively, the “Relevant Documents”),
sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes
any prior negotiations and agreements among the parties relative to such subject matter. No promise, condition, representation
or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and not one of them has relied
on any such promise, condition, representation or warranty. Each of the parties hereto acknowledges that, except as otherwise expressly
stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party
to the other in relation to the subject matter hereof or thereof. None of the terms or conditions of this Amendment may be changed,
modified, waived or canceled orally or otherwise, except as permitted pursuant to Section 10.01 of the Credit Agreement.


 


6.            Full
Force and Effect of Credit Agreement. After giving effect to this Amendment and the amendments contained herein, the Credit
Agreement and all other Loan Documents are hereby confirmed and ratified in all respects by each party hereto and shall be and
remain in full force and effect according to their respective terms.


 


7.            Counterparts
and Effectiveness. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original
as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. Delivery
of an executed counterpart of a signature page of this Amendment by telecopy or electronic delivery (including by .pdf) shall be
effective as delivery of a manually executed counterpart of this Amendment.


 


8.            Governing
Law. This Agreement shall in all respects be governed by, and construed in accordance with, the laws of the State of Georgia
applicable to contracts executed and to be performed entirely within such State, and shall be further subject to the provisions
of Section 10.14 of the Credit Agreement.


 


9.            Enforceability.
Should any one or more of the provisions of this Agreement be determined to be illegal or unenforceable as to one or more of the
parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto.


 


10.          References.
Upon the effectiveness of this Amendment, all references in any of the Loan Documents to the “Credit Agreement” shall
mean the Credit Agreement, as amended and modified hereby and as further amended, supplemented or otherwise modified from time
to time in accordance with the terms thereof.


 


11.          Successors
and Assigns. This Amendment shall be binding upon and inure to the benefit of the Borrower, the Administrative Agent and
each of the Subsidiary Loan Parties and Lenders, and their respective successors, legal representatives and assignees to the extent
such assignees are permitted assignees as provided in Section 10.06 of the Credit Agreement or Section 18 of the
Subsidiary Guaranty Agreement.


 


[Signature pages follow.]


 




    	5



     


    

 


IN WITNESS WHEREOF,
the parties hereto have caused this instrument to be made, executed and delivered by their duly authorized officers as of the day
and year first above written.


 


	 	BORROWER:
	 	 
	 	RPC, INC.
	 	 	 
	 	By:	/s/ Richard A. Hubbell
	 	Name:	Richard A. Hubbell
	 	Title:	President and Chief Executive Officer
	 	 
	 	SUBSIDIARY LOAN PARTIES:
	 	 
	 	BRONCO OILFIELD SERVICES, INC., a Delaware corporation
	 	CUDD PRESSURE CONTROL, INC., a Delaware corporation
	 	CUDD PUMPING SERVICES, INC., a Delaware corporation
	 	PATTERSON SERVICES, INC., a Delaware corporation
	 	THRU TUBING SOLUTIONS, INC., a Delaware corporation
	 	 	 
	 	By:	/s/ Richard A. Hubbell
	 	Name:	Richard A. Hubbell
	 	Title:	President


 


AMENDMENT NO. 4 TO CREDIT AGREEMENT


(RPC, Inc.)


Signature Page


 




     


     


    

 


	 	BANK OF AMERICA, N.A., as Administrative Agent
	 	 	 
	 	By:	/s/ Denise Jones
	 	Name:	Denise Jones
	 	Title:	Vice President


 


AMENDMENT NO. 4 TO CREDIT AGREEMENT


(RPC, Inc.)


Signature Page


 




     


     


    

 


	 	BANK OF AMERICA, N.A.,
    as a Lender,

as a Swing Line Lender and as L/C Issuer
	 	 	 
	 	By:	/s/ David B. Jackson
	 	Name:	David B. Jackson
	 	Title:	Senior Vice President



  


AMENDMENT NO. 4 TO CREDIT AGREEMENT


(RPC, Inc.)


Signature Page


 




     


     


    

 


	 	SUNTRUST BANK, as a Lender
	 	 	 
	 	By:	/s/ Nina Johnson
	 	Name:	Nina Johnson
	 	Title:	Director


 


AMENDMENT NO. 4 TO CREDIT AGREEMENT


(RPC, Inc.)


Signature Page


 




     


     


    

 


	 	WELLS FARGO BANk, NATIONAL ASSOCIATION, as a Lender
	 	 	 
	 	By:	/s/ ROBERT CORDER
	 	Name:	ROBERT CORDER
	 	Title:	DIRECTOR


 


AMENDMENT NO. 4 TO CREDIT AGREEMENT


(RPC, Inc.)


Signature Page


 




     


     


    

 


	 	BRANCH BANKING & TRUST COMPANY, as a Lender
	 	 	 
	 	By:	/s/ Bradley Sands
	 	Name:	Bradley Sands
	 	Title:	Vice President


 


AMENDMENT NO. 4 TO CREDIT AGREEMENT


(RPC, Inc.)


Signature Page


 




     


     


    

 


	 	FIRST COMMERICAL BANK, A DIVISION OF SYNOVUS BANK, as a Lender
	 	 	 
	 	By:	/s/ Chandra Cockrell
	 	Name:	Chandra Cockrell
	 	Title:	Corporate Banker


 


AMENDMENT NO. 4 TO CREDIT AGREEMENT


(RPC, Inc.)


Signature Page


 




     


     


    

 


	 	pnc bank, national association, as a Lender
	 	 	 
	 	By:	/s/ Sean Piper
	 	Name:	Sean Piper
	 	Title:	AVP


 


AMENDMENT NO. 4 TO CREDIT AGREEMENT


(RPC, Inc.)


Signature Page


 




     


     


    

 


Annex A


 


Consolidated Form Credit Agreement


 


See attached.


 


Annex A to Amendment No. 4 to Credit Agreement


 




     


     


    

 


	
        ANNEX A
        

        ATTACHED
        TO AMENDMENT NO. 4 TO CREDIT AGREEMENT



 


 



 


Published Deal CUSIP
Number: 74966QAA7


Published Revolving Commitment
CUSIP Number: 74966QAB5


 


CREDIT AGREEMENT


 


Dated as of August 31,
2010, as amended


 


among


 





 


RPC, INC.,


as the Borrower,


 


BANK OF AMERICA, N.A.,

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


 


SUNTRUST BANK, and


PNC BANK, NATIONAL
ASSOCIATION


as Co-Syndication Agents


 


and


 


THE OTHER LENDERS PARTY
HERETO


 


BANK OF AMERICA MERRILL
LYNCH,


SunTrust
Robinson Humphrey, Inc., and


PNC
Capital Markets LLC,


as Joint Lead Arrangers
and Joint Book Managers


 


 



 




     


     


    

 


Table
of Contents


 


	 	Page
	 	 
	ARTICLE I.        DEFINITIONS AND ACCOUNTING TERMS	1
	 	 	 
	1.01	Defined Terms	1
	 	 	 
	1.02	Other Interpretive Provisions	31
	 	 	 
	1.03	Accounting Terms	32
	 	 	 
	1.04	Rounding	32
	 	 	 
	1.05	Times of Day	32
	 	 	 
	1.06	Letter of Credit Amounts	33
	 	 	 
	ARTICLE II.          THE COMMITMENTS AND CREDIT EXTENSIONS	33
	 	 	 
	2.01	Committed Loans	33
	 	 	 
	2.02	Borrowings, Conversions and Continuations of Committed Loans	33
	 	 	 
	2.03	Letters of Credit	35
	 	 	 
	2.04	Swing Line Loans	44
	 	 	 
	2.05	Prepayments	47
	 	 	 
	2.06	Termination or Reduction of Commitments	48
	 	 	 
	2.07	Repayment of Loans	48
	 	 	 
	2.08	Interest	48
	 	 	 
	2.09	Fees	49
	 	 	 
	2.10	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate	49
	 	 	 
	2.11	Evidence of Debt	50
	 	 	 
	2.12	Payments Generally; Administrative Agent’s Clawback	51
	 	 	 
	2.13	Sharing of Payments by Lenders	53
	 	 	 
	2.14	Extension of Maturity Date	53
	 	 	 
	2.15	Increase in Commitments	55
	 	 	 
	2.16	Cash Collateral	56
	 	 	 
	2.17	Defaulting Lenders	57
	 	 	 
	ARTICLE III.          TAXES, YIELD PROTECTION AND ILLEGALITY	59
	 	 	 
	3.01	Taxes	59
	 	 	 
	3.02	Illegality	64
	 	 	 
	3.03	Inability to Determine Rates	65
	 	 	 
	3.04	Increased Costs; Reserves on Eurodollar Rate Loans	67
	 	 	 
	3.05	Compensation for Losses	69


 




    	-i-



     


    

 


Table
of Contents


(continued)


 


	 	 	Page
	 	 	 
	3.06	Mitigation Obligations; Replacement of Lenders	69
	 	 	 
	3.07	Survival	70
	 	 	 
	ARTICLE IV.          CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	70
	 	 	 
	4.01	Conditions of Initial Credit Extension	70
	 	 	 
	4.02	Conditions to all Credit Extensions	72
	 	 	 
	ARTICLE V.          REPRESENTATIONS AND WARRANTIES	72
	 	 	 
	5.01	Existence; Power	72
	 	 	 
	5.02	Organizational Power; Authorization	73
	 	 	 
	5.03	Governmental Approvals; No Conflicts	73
	 	 	 
	5.04	Financial Statements	73
	 	 	 
	5.05	Litigation and Environmental Matters	73
	 	 	 
	5.06	Compliance with Laws and Agreements	74
	 	 	 
	5.07	Investment Company Act, Etc.	74
	 	 	 
	5.08	Taxes	74
	 	 	 
	5.09	Margin Regulations	74
	 	 	 
	5.10	ERISA Compliance	75
	 	 	 
	5.11	Ownership of Property	75
	 	 	 
	5.12	Disclosure	76
	 	 	 
	5.13	Labor Relations	76
	 	 	 
	5.14	Subsidiaries	77
	 	 	 
	5.15	Insolvency	77
	 	 	 
	5.16	OFAC and Sanctions Concerns	77
	 	 	 
	5.17	PATRIOT Act	77
	 	 	 
	5.18	EEA Financial Institutions	77
	 	 	 
	5.19	Security Instruments	77
	 	 	 
	ARTICLE VI.          AFFIRMATIVE COVENANTS	78
	 	 	 
	6.01	Financial Statements and Other Information	78
	 	 	 
	6.02	Notices of Material Events	80
	 	 	 
	6.03	Existence; Conduct of Business	81
	 	 	 
	6.04	Compliance with Laws, Etc.	81
	 	 	 
	6.05	Payment of Obligations	81


 




    	-ii-



     


    

 


Table
of Contents


(continued)


 


	 	 	Page
	 	 	 
	6.06	Books and Records	82
	 	 	 
	6.07	Visitation, Inspection, Etc.	82
	 	 	 
	6.08	Maintenance of Properties; Insurance	82
	 	 	 
	6.09	Use of Proceeds and Letters of Credit	82
	 	 	 
	6.10	Additional Subsidiaries	83
	 	 	 
	ARTICLE VII.          NEGATIVE COVENANTS	84
	 	 	 
	7.01	Indebtedness and Preferred Equity	84
	 	 	 
	7.02	Negative Pledge	85
	 	 	 
	7.03	Fundamental Changes	85
	 	 	 
	7.04	Investments, Loans, Etc.	86
	 	 	 
	7.05	Restricted Payments	87
	 	 	 
	7.06	Sale of Assets	87
	 	 	 
	7.07	Transactions with Affiliates	88
	 	 	 
	7.08	Restrictive Agreements	89
	 	 	 
	7.09	Sale and Leaseback Transactions	89
	 	 	 
	7.10	Hedging Transactions	89
	 	 	 
	7.11	Amendment to Material Documents	89
	 	 	 
	7.12	[Intentionally Omitted	89
	 	 	 
	7.13	Accounting Changes; Changes in Fiscal Year	89
	 	 	 
	7.14	Acquisitions	90
	 	 	 
	7.15	Financial Covenants	90
	 	 	 
	7.16	Sanctions	90
	 	 	 
	7.17	Borrowing Base	90
	 	 	 
	ARTICLE VIII.          EVENTS OF DEFAULT AND REMEDIES	91
	 	 	 
	8.01	Events of Default	91
	 	 	 
	8.02	Remedies Upon Event of Default	93
	 	 	 
	8.03	Application of Funds	94
	 	 	 
	ARTICLE IX.          ADMINISTRATIVE AGENT	95
	 	 	 
	9.01	Appointment and Authority	95
	 	 	 
	9.02	Rights as a Lender	95
	 	 	 
	9.03	Exculpatory Provisions	96


 




    	-iii-



     


    

 


Table
of Contents


(continued)


 


	 	 	Page
	 	 	 
	9.04	Reliance by Administrative Agent	97
	 	 	 
	9.05	Delegation of Duties	97
	 	 	 
	9.06	Resignation of Administrative Agent	97
	 	 	 
	9.07	Non-Reliance on Administrative Agent and Other Lenders	99
	 	 	 
	9.08	No Other Duties, Etc.	99
	 	 	 
	9.09	Administrative Agent May File Proofs of Claim; Credit Bidding	99
	 	 	 
	9.10	Collateral and Guaranty Matters	101
	 	 	 
	9.11	Related Cash Management Agreements and Related Hedging Obligations	101
	 	 	 
	ARTICLE X.          MISCELLANEOUS	102
	 	 	 
	10.01	Amendments, Etc.	102
	 	 	 
	10.02	Notices; Effectiveness; Electronic Communication	103
	 	 	 
	10.03	No Waiver; Cumulative Remedies; Enforcement	105
	 	 	 
	10.04	Expenses; Indemnity; Damage Waiver	106
	 	 	 
	10.05	Payments Set Aside	108
	 	 	 
	10.06	Successors and Assigns	109
	 	 	 
	10.07	Treatment of Certain Information; Confidentiality	114
	 	 	 
	10.08	Right of Setoff	114
	 	 	 
	10.09	Interest Rate Limitation	115
	 	 	 
	10.10	Counterparts; Integration; Effectiveness	115
	 	 	 
	10.11	Survival of Representations and Warranties	115
	 	 	 
	10.12	Severability	116
	 	 	 
	10.13	Replacement of Lenders	116
	 	 	 
	10.14	Governing Law; Jurisdiction; Etc.	117
	 	 	 
	10.15	Waiver of Jury Trial	118
	 	 	 
	10.16	No Advisory or Fiduciary Responsibility	119
	 	 	 
	10.17	Electronic Execution of Assignments and Certain Other Documents	119
	 	 	 
	10.18	USA PATRIOT Act	119
	 	 	 
	10.19	ENTIRE AGREEMENT	120
	 	 	 
	10.20	Keepwell	120
	 	 	 
	10.21	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	120


 



    	-iv-



     


    

 


SCHEDULES


 


	1.01	Existing Letters of Credit
	2.01	Commitments and Applicable Percentages
	4.01(a)(iv)	Material Jurisdictions
	5.04	Supplement to Quarterly Financial Statements
	5.05	Environmental Matters
	5.14	Subsidiaries
	7.01	Existing Indebtedness
	7.02	Existing Liens
	7.04	Existing Investments
	10.02	Administrative Agent’s Office; Certain Addresses for Notices




 


	EXHIBITS	Form of



 


	A	Committed Loan Notice
	B	Swing Line Loan Notice
	C	Note
	D	Compliance Certificate
	E-1	Assignment and Assumption
	E-2	Administrative Questionnaire
	F	Subsidiary Guaranty Agreement
	G	Opinion Matters
	H	Letter of Credit Report
	I	Borrowing Base Certificate
	J	Security Agreement




 



    	-v-



     


    

 


CREDIT
AGREEMENT


 


This CREDIT AGREEMENT
(“Agreement”) is entered into as of August 31, 2010, among RPC, INC., a Delaware corporation (the “Borrower”),
each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”),
and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.


 


The Borrower has requested
that the Lenders provide a revolving credit facility, and the Lenders are willing to do so on the terms and conditions set forth
herein.


 


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


 


ARTICLE
I.           DEFINITIONS AND ACCOUNTING TERMS


 


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


 


“Account”
has the meaning specified in the UCC.


 


“Account Debtor”
means each Person obligated in any way on or in connection with an Account, chattel paper or a general intangible (including a
payment intangible).


 


“Acquisition”
means the acquisition of (i) a controlling equity interest or other controlling ownership interest in another Person (including
the purchase of an option, warrant or convertible or similar type security to acquire such a controlling interest at the time it
becomes exercisable by the holder thereof), whether by purchase of such equity or other ownership interest or upon the exercise
of an option or warrant for, or conversion of securities into, such equity or other ownership interest or (ii) assets of another
Person which constitute all or substantially all of the assets of such Person or of a line or lines of business conducted by or
licensed or owned by such Person.


 


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


 


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


 


“Administrative
Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit E-2 or any other form
approved by the Administrative Agent.


 


“Advance Limit”
means, as of any date of a Borrowing or other date of determination (a) during any Consolidated EBITDA < $50 Million Test Period,
an amount equal to the lesser of (i) the Aggregate Commitments at such time and (ii) the Borrowing Base at such time, calculated
as of the most recent date for which a Borrowing Base Certificate has been delivered pursuant to the terms hereof and (b) during
a Consolidated EBITDA < $50 Million Non-Test Period, the Aggregate Commitments at such time.


 




    	-1-



     


    

 


“Affiliate”
means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or
is Controlled by or is under common Control with the Person specified.


 


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


 


“Agreement”
means this Credit Agreement.


 


“Amendment
No. 2” means that certain Amendment No. 2 to Credit Agreement dated as of the Amendment No. 2 Effectiveness Date among
the Borrower, the Subsidiary Loan Parties party thereto, Bank of America, N.A., as Administrative Agent, Swing Line Lender and
L/C Issuer and the Lenders party thereto.


 


“Amendment
No. 2 Effectiveness Date” means January 17, 2014.


 


“Amendment
No. 3” means that certain Amendment No. 3 to Credit Agreement dated as of the Amendment No. 3 Effectiveness Date among
the Borrower, the Subsidiary Loan Parties party thereto, Bank of America, N.A., as Administrative Agent, Swing Line Lender and
L/C Issuer and the Lenders party thereto.


 


“Amendment
No. 3 Effectiveness Date” means June 30, 2016.


 


“Amendment
No. 4” means that certain Amendment No. 4 to Credit Agreement dated as of the Amendment No. 4 Effectiveness Date among
the Borrower, the Subsidiary Loan Parties party thereto, Bank of America, N.A., as Administrative Agent, Swing Line Lender and
L/C Issuer and the Lenders party thereto.


 


“Amendment
No. 4 Effectiveness Date” means July 26, 2018.


 


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


 


“Applicable
Rate” means the following percentages per annum, based upon the Consolidated Leverage Ratio as set forth in the most
recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.01(c):


 




    	-2-



     


    

 


Applicable
Rate


 


	Pricing

Level	Consolidated Leverage  Ratio	Commitment

Fee	Eurodollar 

Rate + 

––––––––––

Letters of Credit	Base Rate +
	1	< 0.50:1	0.150%	1.125%	0.125%
	2	> 0.50:1 but < 1.00:1	0.175%	1.375%	0.375%
	3	> 1.00:1 but < 1.50:1	0.200%	1.625%	0.625%
	4	> 1.50:1 but < 2.00:1	0.225%	1.875%	0.875%
	5	> 2.00:1	0.250%	2.125%	1.125%


 


Any increase or decrease
in the Applicable Rate resulting from a change in the Consolidated Leverage Ratio shall become effective as of the first Business
Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.01(c); provided, however,
that if a Compliance Certificate is not delivered when due in accordance with such Section, then, upon the request of the Required
Lenders, Pricing Level 5 shall apply as of the first Business Day after the date on which such Compliance Certificate was required
to have been delivered and shall remain in effect until the date on which such Compliance Certificate is delivered. The Applicable
Rate in effect from the Amendment No. 4 Effectiveness Date through the first Business Day immediately following the date the Compliance
Certificate is delivered for the Fiscal Quarter ending June 30, 2018 shall be determined based upon Pricing Level 1, provided that,
if such Compliance Certificate is not delivered when due, Pricing Level 5 shall apply as of the first Business Day after the date
on which such Compliance Certificate was required to have been delivered and shall remain in effect until the date on which such
Compliance Certificate is delivered.


 


Notwithstanding anything
to the contrary contained in this definition, the determination of the Applicable Rate for any period shall be subject to the
provisions of Section 2.10(b).


 


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


 


“Arrangers”
means MLPF&S, PNC Bank, National Association and SunTrust Robinson Humphrey, Inc., each in its capacity as a joint lead arranger
and joint book manager.


 


“Assignee
Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed
by the same investment advisor.


 


“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent
of any party whose consent is required by Section 10.06(b)), and accepted by the Administrative Agent, in substantially
the form of Exhibit E-1 or any other form (including electronic documentation generated by use of an electronic platform)
approved by the Administrative Agent.


 




    	-3-



     


    

 


“Audited Financial
Statements” means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the Fiscal Year ended
December 31, 2012, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for
such Fiscal Year of the Borrower and its Subsidiaries, including the notes thereto, prepared by Grant Thornton LLP.


 


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


 


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


 


“Bail-In Legislation”
means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of
the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the
EU Bail-In Legislation Schedule.


 


“Bank of America”
means Bank of America, N.A. and its successors.


 


“Base Rate”
means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate
of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,”,
(c) the Eurodollar Rate plus 1.00% and (d) 0.00%. The “prime rate” is a rate set by Bank of America based upon various
factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used
as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime
rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement
of such change.


 


“Base Rate
Committed Loan” means a Committed Loan that is a Base Rate Loan.


 


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


 


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


 


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


 


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


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


 


“Borrower
Materials” has the meaning specified in Section 6.01.


 




    	-4-



     


    

 


“Borrowing”
means a Committed Borrowing or a Swing Line Borrowing, as the context may require.


 


“Borrowing
Base” means as of any date of calculation, the lesser of (a) the Aggregate Commitments or (b) the sum of, without duplication,
(i) 80% of the Net Book Value of Eligible Accounts plus (ii) 70% of the Net Book Value of Eligible Unbilled Accounts minus
(iii) the amount of all letters of credit, acceptances or similar extensions of credit issued on behalf of the Borrower or any
of its Subsidiaries (other than Letters of Credit issued under this Agreement) as of such date of calculation.


 


“Borrowing
Base Certificate” means a certificate substantially in the form of Exhibit I.


 


“Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under
the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates
to any Eurodollar Rate Loan, means any such day that is also a London Banking Day.


 


“Capital Expenditures”
means, for any period, without duplication, (i) the additions to property, plant and equipment and other capital expenditures of
the Borrower and its Subsidiaries that are (or would be) set forth on a consolidated statement of cash flows of the Borrower for
such period prepared in accordance with GAAP and (ii) Capital Lease Obligations incurred by the Borrower and its Subsidiaries during
such period.


 


“Capital Lease
Obligations” of any Person means all obligations of such Person to pay rent or other amounts under any lease (or other
arrangement conveying the right to use) of real or personal property, or a combination thereof, which obligations are required
to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations
shall be the capitalized amount thereof determined in accordance with GAAP.


 


“Capital Stock”
means any non-redeemable capital stock (or in the case of a partnership or limited liability company, the partners’ or members’
equivalent equity interest) of the Borrower or any of its Subsidiaries (to the extent issued to a Person other than the Borrower),
whether common or preferred.


 


“Cash Collateralize”
means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Administrative Agent, L/C Issuer
or Swing Line Lender (as applicable) and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans,
or obligations of Lenders to fund participations in respect of either thereof (as the context may require), cash or deposit account
balances or, if the L/C Issuer or Swing Line Lender benefitting from such collateral shall agree in its sole discretion, other
credit support, in each case pursuant to documentation in form and substance satisfactory to (a) the Administrative Agent and (b)
the L/C Issuer or the Swing Line Lender (as applicable). “Cash Collateral” shall have a meaning correlative to the
foregoing and shall include the proceeds of such cash collateral and other credit support.


 




    	-5-



     


    

 


“Cash Management
Agreement” means any agreement that is not prohibited by the terms hereof to provide cash management services, including
treasury, depository, overdraft, credit, debit or purchasing card, electronic funds transfer and other cash management arrangements.


 


“Cash Management
Bank” means any Person that, (a) at the time it enters into a Cash Management Agreement with a Loan Party, is a Lender
or an Affiliate of a Lender, or (b) at the time it (or its Affiliate) becomes a Lender, is a party to a Cash Management Agreement
with a Loan Party, in each case in its capacity as a party to such Cash Management Agreement.


 


“Change in
Control” means the occurrence of one or more of the following events: (i) any sale, lease, exchange or other transfer
(in a single transaction or a series of related transactions) of all or substantially all of the assets of the Borrower and its
Subsidiaries taken as a whole to any Person or “group” (within the meaning of the Securities Exchange Act of 1934 and
the rules of the SEC thereunder in effect on the date hereof), (ii) the acquisition of ownership, directly or indirectly, beneficially
or of record, by any Person or “group” (within the meaning of the Securities Exchange Act of 1934 and the rules of
the SEC thereunder as in effect on the date hereof) of 30% or more of the outstanding shares of the voting stock of the Borrower,
provided that, for purposes of this clause (ii), “Person” or “group” shall exclude any member of
the Rollins Group and the determination of such 30% calculation shall exclude any intra-transfers among members of the Rollins
Group, or (iii) during any consecutive two-year period, individuals who at the beginning of that two-year period constituted the
board of directors of Borrower (together with any new directors whose election to the board of directors of Borrower, or whose
nomination for election by the shareholders of Borrower, was approved by a vote of a majority of the directors then still in office
who were either directors at the beginning of such period or whose election or nomination for election were previously so approved)
cease for any reason to constitute a majority of the board of directors then in office.


 


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


 


“Closing Date”
means the first date all the conditions precedent in Section 4.01 are satisfied or waived in accordance with Section
10.01.


 


“Collateral”
means, the property of any Person in which the Administrative Agent, on behalf of the Secured Parties, is granted a Lien under
any Security Instrument as security for all or any portion of the Obligations.


 




    	-6-



     


    

 


“Code”
means the Internal Revenue Code of 1986.


 


“Commitment”
means, as to each Lender, its obligation to (a) make Committed Loans to the Borrower pursuant to Section 2.01, (b) purchase
participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any
one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment
and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to
time in accordance with this Agreement.


 


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


 


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


 


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


 


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


 


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


 


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


 


“Consolidated
Debt Service Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the four
consecutive Fiscal Quarters ending on or immediately prior to such date to (b) the sum of (i) all scheduled payments of principal
on funded Indebtedness of the Borrower and its Subsidiaries permitted by Sections 7.01(b) and 7.01(f) paid or required
to be paid during the four consecutive Fiscal Quarters ending on or immediately prior to such date (excluding any such scheduled
payments that are in excess of 25% of the original amount of such funded Indebtedness which constitute the maturity balance of
such Indebtedness) and (ii) Consolidated Interest Expense for the four consecutive Fiscal Quarters ending on or immediately prior
to such date.


 


“Consolidated
EBITDA” means, for the Borrower and its Subsidiaries for any period, an amount equal to the sum of (i) Consolidated Net
Income for such period plus (ii) to the extent deducted in determining Consolidated Net Income for such period, (A) Consolidated
Interest Expense, (B) income tax expense determined on a consolidated basis in accordance with GAAP, (C) depreciation and amortization
determined on a consolidated basis in accordance with GAAP, and (D) all other non-cash charges reasonably acceptable to the Administrative
Agent, determined on a consolidated basis in accordance with GAAP, in each case for such period.


 




    	-7-



     


    

 


“Consolidated
EBITDA < $50 Million Non-Test Period” means any time other than during a Consolidated EBITDA < $50 Million Test
Period.


 


“Consolidated
EBITDA < $50 Million Test Period” means each period which begins the last day of any month in which financial statements
are delivered hereunder with respect to any Fiscal Quarter (or, if earlier, beginning the day after financial statements are required
to be so delivered) where Consolidated EBITDA for the 12-month period ending as of the end of such Fiscal Quarter is less than
$50,000,000 and continuing until the day after financial statements are delivered with respect to any subsequent Fiscal Quarter
(or, if earlier, beginning the day after financial statements are required to be so delivered) where Consolidated EBITDA for the
12-month period ending as of the end of such Fiscal Quarter is equal to or greater than $50,000,000.


 


“Consolidated
Interest Expense” means, for the Borrower and its Subsidiaries for any period determined on a consolidated basis in accordance
with GAAP, the sum of (i) total interest expense, including without limitation the interest component of any payments in respect
of Capital Lease Obligations capitalized or expensed during such period (whether or not actually paid during such period) plus
(ii) the net amount payable (or minus the net amount receivable) with respect to Hedging Transactions during such period (whether
or not actually paid or received during such period).


 


“Consolidated
Leverage Ratio” means, as of any date of determination, the ratio of (i) Consolidated Total Debt as of such date to (ii)
Consolidated EBITDA for the four consecutive Fiscal Quarters ending on or immediately prior to such date. For purposes of determining
the “Consolidated Leverage Ratio” and the “Applicable Rate” relating thereto, in the event Consolidated
Total Debt is greater than zero and Consolidated EBITDA is zero or less than zero, the Applicable Rate shall be determined based
upon Pricing Level 5.


 


“Consolidated
Net Income” means, for the Borrower and its Subsidiaries for any period, the net income (or loss) of the Borrower and
its Subsidiaries for such period determined on a consolidated basis in accordance with GAAP, but excluding therefrom (to the extent
otherwise included therein) (i) any extraordinary gains or losses, (ii) any gains attributable to write-ups of assets, (iii) any
equity interest of the Borrower or any Subsidiary of the Borrower in the unremitted earnings of any Person that is not a Subsidiary,
and (iv) any income (or loss) of any Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated
with the Borrower or any Subsidiary on the date that such Person’s assets are acquired by the Borrower or any Subsidiary
as reasonably approved by the Administrative Agent; provided, however, that to the extent that the term “Consolidated Net
Income” is used in calculating Consolidated EBITDA, Consolidated Net Income shall include any income (or loss) of any Person
accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with the Borrower or any Subsidiary on the
date that such Person’s assets are acquired by the Borrower or any Subsidiary, subject to the approval thereof by the Administrative
Agent, such approval not to be unreasonably withheld.


 




    	-8-



     


    

 


“Consolidated
Net Tangible Assets” means, as of any date of determination, the total amount of all assets of the Borrower and its Subsidiaries
on a consolidated basis in accordance with GAAP (less applicable reserves and other properly deductible items) after deducting
therefrom all goodwill, trade names, trademarks, patents, unamortized debt discount and expense and other like intangible assets,
calculated as of the end of the most recent fiscal period for which financial statements have been delivered pursuant to Section
6.01(a) or (b), as applicable.


 


“Consolidated
Tangible Net Worth” means, as of any date of determination, for the Borrower and its Subsidiaries on a consolidated basis,
Shareholders’ Equity of the Borrower and its Subsidiaries on that date minus the Intangible Assets of the Borrower
and its Subsidiaries on that date.


 


“Consolidated
Total Assets” means, as of any date of determination, the total amount of all assets of the Borrower and its Subsidiaries
on a consolidated basis in accordance with GAAP (less applicable reserves and other properly deductible items), calculated as of
the end of the most recent fiscal period for which financial statements have been delivered pursuant to Section 6.01(a) or
(b), as applicable.


 


“Consolidated
Total Debt” means, as of any date of determination, all Indebtedness of the Borrower and its Subsidiaries measured on
a consolidated basis as of such date, but excluding Indebtedness of the type described in subsection (vi), (x) and (xi)
of the definition thereto.


 


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


 


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


 


“Debtor Relief
Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment
for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws
of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.


 


“Default”
means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time,
or both, would be an Event of Default.


 


“Default Rate”
means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base Rate plus
(ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum; provided, however,
that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any
Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees,
a rate equal to the Applicable Rate plus 2% per annum.


 




    	-9-



     


    

 


“Defaulting
Lender” means, subject to Section
2.17(b), any Lender that (a) has failed to perform any of its funding obligations hereunder, including in respect of its Loans
or participations in respect of Letters of Credit or Swing Line Loans, within three Business Days of the date required to be funded
by it hereunder (unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the
result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent,
together with any applicable default, shall be specifically identified in such writing) has not been satisfied),
(b) has notified the Borrower, or the Administrative Agent or any Lender that it does not intend to comply with its funding obligations
or has made a public statement to that effect with respect to its funding obligations hereunder or under other agreements in which
it commits to extend credit (unless such writing or public statement relates to such Lender’s obligation to fund a
Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding
(which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement)
cannot be satisfied)), (c) has failed, within three
Business Days after request by the Administrative Agent, to confirm in a manner satisfactory to the Administrative Agent that it
will comply with its funding obligations, or (d) has, or has a direct or indirect parent company that has, (i) become the subject
of a proceeding under any Debtor Relief Law, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit
of creditors or similar Person charged with reorganization or liquidation of its business or a custodian appointed for it, including
the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such capacity, (iii) taken
any action in furtherance of, or indicated its consent to, approval of or acquiescence in any such proceeding or appointment, or
(iv) become the subject of a Bail-In Action, or; provided
that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that
Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does
not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement
of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate,
disavow or disaffirm any contracts or agreements made with such Lender.
Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a)
through (d) above, and of the effective date of such status, shall be conclusive and binding absent manifest error, and
such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.17(b)) as of the date established therefor by
the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative Agent to the
Borrower, the L/C Issuer, the Swing Line Lender and each other Lender promptly following such determination.


 


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


 


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


 


“Domestic
Subsidiary” means any Subsidiary that is organized under the laws of one of the fifty states of the United States or
the District of Columbia.


 




    	-10-



     


    

 


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


 


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


 


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


 


“Eligible
Accounts” means the Accounts of the Borrower and the Subsidiary Loan Parties (a) which arise from the sale, lease or
license of goods or rendition of services in the ordinary course of business and (b) for which an invoice has been processed for
payment to the applicable Account Debtor;


 


provided that,
Eligible Accounts shall not (unless otherwise agreed to by the Administrative Agent) include:


 


(i)        any Account with respect to which any of the representations, warranties, covenants, and agreements contained in the Loan Documents
are incorrect or have been breached in any material respect;


 


(ii)       any
Account with respect to which either the perfection, enforceability, or validity of the Administrative Agent’s Liens in such
Account, or the Administrative Agent’s right or ability to obtain direct payment to the Administrative Agent of the proceeds
of such Account, is governed by any federal, state, or local statutory requirements other than those of the UCC;


 


(iii)      any
Account owed by an Account Debtor which is obligated to the Borrower or the applicable Subsidiary representing Accounts the aggregate
unpaid balance of which exceeds twenty-five percent (25%) of the aggregate unpaid balance of all Accounts owed to the Borrower
and its Subsidiaries at such time by all of the Borrower’s and its Subsidiaries’ Account Debtors, but only to the extent
of such excess;


 


(iv)      any
Account with respect to which more than 90 days have elapsed since the date of the original invoice therefor or which is more than
60 days past due;


 


(v)       any
Account owed by an Account Debtor of which twenty-five percent (25%) or more of the aggregate unpaid balances of its Accounts owing
to any Persons are (individually or collectively) more than 90 days past the date of the original invoice therefor or which are
more than 60 days past due;


 


(vi)      any
Account that is not subject to the Administrative Agent’s Liens which are perfected as to such Accounts, or that is subject
to any other Lien whatsoever other than the Administrative Agent’s Liens under the Loan Documents and Permitted Encumbrances;


 




    	-11-



     


    

 


(vii)     any Account with respect to which Account, in whole or in part, a check, promissory note, draft, trade acceptance or other instrument
for the payment of money has been received, presented for payment and returned uncollected for any reason;


 


(viii)    any
Account in which the payment thereof has been extended beyond 90 days from the date of the original invoice thereof or such Account
arises from a sale on a cash-on-delivery basis;


 


(ix)       any Account that represents a progress billing (as hereinafter defined) or as to which the Borrower or any Subsidiary has extended
the time for payment other than in the ordinary course of business and without the consent of the Administrative Agent; for the
purposes hereof, “progress billing” means any invoice for goods sold or leased or services rendered under a contract
or agreement pursuant to which the Account Debtor’s obligation to pay such invoice is conditioned upon the Borrower’s
or the applicable Subsidiary’s completion of any further performance under the contract or agreement;


 


(x)       any Account with respect to which any one or more of the following events has occurred to the Account Debtor on such Account: 
death or judicial declaration of incompetency of an Account Debtor who is an individual; the filing by or against the Account Debtor
of a request or petition for liquidation, reorganization, arrangement, adjustment of debts, adjudication as a bankrupt, winding-up,
or other relief under Debtor Relief Laws; the making of any general assignment by the Account Debtor for the benefit of creditors;
the appointment of a receiver or trustee for the Account Debtor or for any of the assets of the Account Debtor, including, without
limitation, the appointment of or taking possession by a “custodian,” as defined in the Bankruptcy Code of the United
States; the institution by the Account Debtor of any other type of insolvency proceeding (under Debtor Relief Laws or otherwise)
or of any dissolution or liquidation of, settlement of claims against, or winding up of affairs of, the Account Debtor; or the
cessation of the business of the Account Debtor;


 


(xi)       any Account owed by an Account Debtor which: (1) does not maintain its chief executive office in the United States or Canada; (2)
is not organized under the laws of the United States, Canada or any political subdivision thereof; (3) is not, if a natural person,
a citizen of the United States or Canada residing therein; or (4) is a Governmental Authority of any foreign country or sovereign
state, or of any state, province, municipality, or other political subdivision thereof, except to the extent such Account is supported
by a letter of credit, acceptance or similar instrument acceptable to the Administrative Agent;


 


(xii)      any Account owed by an Account Debtor which is an Affiliate, officer, director or employee of the Borrower or any Subsidiary;


 


(xiii)     any Account owed by an Account Debtor to which the Borrower or any Subsidiary is indebted in any way, or with respect to which
the Borrower or such Subsidiary has knowledge or notice that such Account is subject to any right of setoff or recoupment by the
Account Debtor (including, without limitation, all Accounts that are subject to any agreement encumbering or limiting in any manner
the Borrower’s or any Subsidiary’s access to such Accounts), unless the Account Debtor has entered into an agreement
acceptable to the Administrative Agent to waive setoff rights; or if the Account Debtor thereon has disputed liability or made
any claim with respect to any other Account due from such Account Debtor, but in each such case only to the extent of such indebtedness,
setoff, recoupment, dispute, or claim;


 




    	-12-



     


    

 


(xiv)    any Account owed by any Governmental Authority, unless the Federal Assignment of Claims Act of 1940, as amended (31 U.S.C. §
3727 et seq.), and any other steps necessary to perfect the Administrative Agent’s Liens therein, have been complied with
to the Administrative Agent’s satisfaction with respect to such Account;


 


(xv)     any Account owed by any Governmental Authority and as to which the Administrative Agent determines that its Lien therein is not
or cannot be perfected;


 


(xvi)    any Account which represents a sale on a bill-and-hold, guaranteed sale, sale and return, sale on approval, consignment, or other
repurchase or return basis;


 


(xvii)   any Account which is evidenced by a promissory note or other instrument or by chattel paper;


 


(xviii)    
any Account with respect to which the Account Debtor is located in any state requiring the filing of a Notice of Business Activities
Report or similar report in order to permit the Borrower or any Subsidiary to seek judicial enforcement in such state of payment
of such Account, unless the Borrower or any Subsidiary has qualified to do business in such state or has filed a Notice of Business
Activities Report or equivalent report for the then current year;


 


(xix)     any Account that arises out of a sale not made in the ordinary course of the Borrower’s or the applicable Subsidiary’s
business or out of finance or similar charges;


 


(xx)      any Account with respect to which the goods giving rise to such Account have not been shipped and delivered to and accepted by
the Account Debtor or the services giving rise to such Account have not been performed by the Borrower or the applicable Subsidiary
and, if applicable, accepted by the Account Debtor, or the Account Debtor revokes its acceptance of such goods or services; or


 


(xxi)     any Account which includes a billing for interest, fees or late charges, provided that ineligibility shall be limited to
the extent of such billing.


 


The Borrower, by including
an Account in any computation of the Borrowing Base, shall be deemed to represent and warrant to the Administrative Agent and the
Lenders that such Account is not of the type described in any of (a)(i) through (xxi) above; provided that any such representation
regarding any Account that may be excluded based on the discretion or satisfaction of the Administrative Agent shall be to the
best knowledge of the Borrower. If any Account at any time ceases to be an Eligible Account, then such Account shall promptly be
excluded by the Borrower from the calculation of Eligible Accounts.  If the Administrative Agent or the Required Lenders have
reasonable grounds to believe that an Account is of the type described in any of clauses (a)(i) through (xxi) above, the Administrative
Agent shall inform the Borrower of the grounds for such belief and shall request confirmation by the Borrower of the eligibility
of such Account or Accounts.  Further, the Administrative Agent shall have the right to reasonably adjust the applicable computation
of the Borrowing Base as a result of the 2016 Field Exam. Prior to confirmation of the eligibility thereof by the Borrower, such
Account or Accounts shall not be considered Eligible Accounts and no representation and warranty shall have been deemed made with
respect thereto.


 




    	-13-



     


    

 


“Eligible
Assignee” means any Person that meets the requirements to be an assignee under Section 10.06(b)(iii) and (v)
(subject to such consents, if any, as may be required under Section 10.06(b)(iii)).


 


“Eligible
Unbilled Account” means an Account which would be an Eligible Account but for the failure to satisfy the terms of clause
(b) of the definition of Eligible Account; provided that any such Account shall cease to be an Eligible Unbilled Account (x) if
an invoice with respect thereto shall not be delivered to the applicable Account Debtor within 30 calendar days following the date
on which such Account was originally created or (y) at such time as such Account qualifies as an “Eligible Account”.


 


“Environmental
Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding
agreements issued, promulgated or entered into by or with any Governmental Authority, relating in any way to the protection of
the environment, preservation or reclamation of natural resources, the management, Release or threatened Release of any Hazardous
Material or to health and safety matters.


 


“Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental
investigation and remediation, costs of administrative oversight, fines, natural resource damages, penalties or indemnities), of
the Borrower or any Subsidiary directly or indirectly resulting from or based upon (i) any actual violation of any Environmental
Law, (ii) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (iii) any actual
exposure to any Hazardous Materials, (iv) the Release or threatened Release of any Hazardous Materials or (v) any contract, agreement
or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.


 


“ERISA”
means the Employee Retirement Income Security Act of 1974.


 


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


 




    	-14-



     


    

 


“ERISA Event”
means (a) the occurrence of a Reportable Event with respect to a Pension Plan; (b) the withdrawal of the Borrower or
any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial
employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal
under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer
Plan or notification that a Multiemployer Plan is in reorganization under Title IV of ERISA; (d) the filing of a notice of intent
to terminate any Pension Plan, the termination of any Pension Plan under Section 4041(c) of ERISA or the termination of any Multiemployer
Plan under Section 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan or Multiemployer
Plan; (f) any event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the
appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan is considered an at-risk
plan or a plan in endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304
and 305 of ERISA; or (h) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not
delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate.


 


“Eurodollar
Rate” means:


 


(a)           for
any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the London Interbank Offered Rate (“LIBOR”)
or a comparable or successor rate, which rate is approved by the Administrative Agent, as published on the applicable Reuters screen
page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from
time to time) (in such case, the “LIBOR Rate”) at or about 11:00 a.m., London time, two (2) Business Days prior
to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a
term equivalent to such Interest Period;


 


(b)           for
any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the LIBOR Rate, at or about
11:00 a.m., London time two (2) Business Days prior to such date for Dollar deposits with a term of one month commencing that day;
and


 


(c)           if
the Eurodollar Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement


 


provided that to the
extent a comparable or successor rate is approved by the Administrative Agent in connection herewith, the approved rate shall be
applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively
feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the
Administrative Agent.


 


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


 


“Eurodollar
Rate Loan” means a Committed Loan or a Swing Line Loan that bears interest at a rate based on clause (a) of the
definition of “Eurodollar Rate.”


 


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


 




    	-15-



     


    

 


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


 


“Excluded
Taxes” means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or deducted
from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch
profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal
office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision
thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts
payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in
effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment
request by the Borrower under Section 10.13) or (ii) such Lender changes its Lending Office, except in each case to the
extent that, pursuant to Section 3.01(a)(ii), (a)(iii) or (c), amounts with respect to such Taxes were payable either
to such Lender's assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed
its Lending Office, (c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(e) and (d) any
U.S. federal withholding Taxes imposed pursuant to FATCA.


 


“Existing
Credit Agreement” means that certain Credit Agreement dated as of September 8, 2006, among the Borrower, SunTrust Bank,
as administrative agent, Bank of America, N.A., as syndication agent and a syndicate of lenders.


 


“Existing
Letters of Credit” means the Letters of Credit listed on Schedule 1.01.


 


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


 


“FATCA”
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof,
any agreements entered into pursuant to Section 1471(b)(1) of the Code and any applicable intergovernmental agreements with respect
thereto.


 




    	-16-



     


    

 


“Federal Funds
Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions
with members of the Federal Reserve System, as published by the Federal Reserve Bank of New York on the Business Day next succeeding
such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on
such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate
is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward,
if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by
the Administrative Agent.


 


“Fee Letters”
means (x) the letter agreement, dated August 27, 2010, among the Borrower, the Administrative Agent and MLPF&S and (y) the
letter agreement, dated January 17, 2014 among the Borrower, the Administrative Agent and MLPF&S.


 


“Fiscal Quarter”
means any fiscal quarter of the Borrower. “Fiscal Year” means any fiscal year of the Borrower.


 


“Foreign Lender”
means any Lender that is organized under the Laws of a jurisdiction other than that in which the Borrower is resident for tax purposes
(including such a Lender when acting in the capacity of the L/C Issuer). For purposes of this definition, the United States, each
State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.


 


“Foreign Subsidiary”
means any Subsidiary that is organized under the laws of a jurisdiction other than one of the fifty states of the United States
or the District of Columbia.


 


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


 


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


 


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


 


“GAAP”
means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in
the United States, that are applicable to the circumstances as of the date of determination, consistently applied.


 




    	-17-



     


    

 


“Governmental
Authority” means the government of the United States or any other nation, or of any political subdivision thereof, whether
state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national
bodies such as the European Union or the European Central Bank).


 


“Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly and including any obligation, direct or indirect, of the guarantor (i) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to
advance or supply funds for the purchase of) any security for the payment thereof, (ii) to purchase or lease property, securities
or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (iii) to maintain
working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable
the primary obligor to pay such Indebtedness or other obligation or (iv) as an account party in respect of any letter of credit
or letter of guaranty issued in support of such Indebtedness or obligation; provided, that the term “Guarantee” shall
not include endorsements for collection or deposits in the ordinary course of business. The amount of any Guarantee shall be deemed
to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee is made
or, if not so stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is
required to perform thereunder) as determined by such Person in good faith after giving effect to any contractual payment or recourse
limitation with respect to such Guarantee. The term “Guarantee” used as a verb has a corresponding meaning.


 


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


 


“Hedge Bank”
means any Person that, (a) at the time it enters into a Hedging Transaction not prohibited under Article VI or VII,
is a Lender or an Affiliate of a Lender, or (b) at the time it (or its Affiliate) becomes a Lender, is a party to a Hedging Transaction
not prohibited under Article VI or VII, in each case, in its capacity as a party to such Hedging Transaction.


 


“Hedging Obligations”
of any Person means any and all obligations of such Person, whether absolute or contingent and howsoever and whensoever created,
arising, evidenced or acquired under (i) any and all Hedging Transactions, (ii) any and all cancellations, buy backs, reversals,
terminations or assignments of any Hedging Transactions and (iii) any and all renewals, extensions and modifications of any Hedging
Transactions and any and all substitutions for any Hedging Transactions. “Hedging Obligations” shall include any obligation
to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of Section
1a(47) of the Commodity Exchange Act.


 




    	-18-



     


    

 


“Hedging Transaction”
of any Person means (a) any transaction (including an agreement with respect thereto) now existing or hereafter entered into by
such Person that is a rate swap, basis swap, forward rate transaction, commodity swap, interest rate option, foreign exchange transaction,
cap transaction, floor transaction, collateral transaction, forward transaction, currency swap transaction, cross-currency rate
swap transaction, currency option or any other similar transaction (including any option with respect to any of these transactions)
or any combination thereof, whether linked to one or more interest rates, foreign currencies, commodity prices, equity prices or
other financial measures and (b) any and all transactions of any kind, and the related confirmations, which are subject to the
terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association,
Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with
any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master
Agreement.


 


“Indebtedness”
of any Person means, without duplication (i) all obligations of such Person for borrowed money, (ii) all obligations of such Person
evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person in respect of the deferred
purchase price of property or services (other than trade payables incurred in the ordinary course of business; provided,
that for purposes of Section 8.01(g), trade payables overdue by more than 120 days shall be included in this definition
except to the extent that any of such trade payables are being disputed in good faith and by appropriate measures), (iv) all obligations
of such Person under any conditional sale or other title retention agreement(s) relating to property acquired by such Person, (v)
all Capital Lease Obligations of such Person, (vi) all obligations, contingent or otherwise, of such Person in respect of letters
of credit, acceptances or similar extensions of credit, (vii) all Indebtedness of a third party secured by any Lien on property
owned by such Person, whether or not such Indebtedness has been assumed by such Person, (vii) all obligations of such Person, contingent
or otherwise, to purchase, redeem, retire or otherwise acquire for value any common stock of such Person, (ix) Off-Balance Sheet
Liabilities of such Person, (x) all Hedging Obligations of such Person, and (xi) all Guarantees of such Person of the type of Indebtedness
described in clauses (i) through (x) above. The Indebtedness of any Person shall include the Indebtedness of any
partnership or joint venture in which such Person is a general partner or a joint venturer, except to the extent that the terms
of such Indebtedness provide that such Person is not liable therefor.


 


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


 


“Indemnitees”
has the meaning specified in Section 10.04(b).


 


“Information”
has the meaning specified in Section 10.07.


 


“Information
Memorandum” means the Confidential Information Memorandum dated August 2010 relating to the Borrower and the transactions
contemplated by this Agreement and the other Loan Documents.


 


“Intangible
Assets” means assets that are considered to be intangible assets under GAAP.


 




    	-19-



     


    

 


“Interest
Payment Date” means, (a) as to any Loan other than (i) a Base Rate Loan, (ii) a Swing Line Loan or (iii) a Eurodollar
Rate Committed Loan described in Section 2.04(c), the last day of each Interest Period applicable to such Loan and the Maturity
Date; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the respective
dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as
to any (i) Base Rate Loan, (ii) Swing Line Loan or (iii) Eurodollar Rate Committed Loan described in Section 2.04(c), the
last Business Day of each March, June, September and December and the Maturity Date.


 


“Interest
Period” means:


 


(a)        as
to each Eurodollar Rate Loan (other than any Loan described in clause (b) below), the period commencing on the date such Eurodollar
Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one, two, three or six months
thereafter (in each case, subject to availability), as selected by the Borrower in its Committed Loan Notice; provided that:


 


(i)          any
Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business
Day unless, in the case of a Eurodollar Rate Loan, such Business Day falls in another calendar month, in which case such Interest
Period shall end on the next preceding Business Day;


 


(ii)         any
Interest Period pertaining to a Eurodollar Rate Loan that begins on the last Business Day of a calendar month (or on a day for
which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last
Business Day of the calendar month at the end of such Interest Period; and


 


(iii)        no
Interest Period shall extend beyond the Maturity Date; or


 


(b)          as
to each Swing Line Loan and each Eurodollar Rate Committed Loan described in Section 2.04(c), a period of approximately
one month commencing on the first Business Day of each month and ending on the first Business Day of the following month.


 


“Investment”
has the meaning specified in Section 7.04.


 


“IRS”
means the United States Internal Revenue Service.


 


“ISP”
means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the Institute
of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance).


 


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


 




    	-20-



     


    

 


“Laws”
means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances,
codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental
Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed
duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether
or not having the force of law.


 


“L/C Advance”
means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its
Applicable Percentage.


 


“L/C Borrowing”
means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when
made or refinanced as a Committed Borrowing.


 


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


 


“L/C Issuer”
means (a) Bank of America in its capacity as issuer of Letters of Credit hereunder, (b) SunTrust Bank, solely in its capacity as
issuer of Existing Letters of Credit hereunder (and not any extension or renewal thereof) and (c) any successor issuer(s) of Letters
of Credit hereunder. All singular references to the L/C Issuer shall mean any L/C Issuer, either L/C Issuer, the L/C Issuer that
has issued the applicable Letter of Credit, or all L/C Issuers, as the context may require. As of the Amendment No. 4 Effectiveness
Date, there are no outstanding Letters of Credit issued by SunTrust Bank and (without limiting its reimbursement and indemnity
rights hereunder relating to any Existing Letters of Credit previously issued by SunTrust Bank) SunTrust Bank shall not constitute
an “L/C Issuer” hereunder.


 


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


 


“Lender”
has the meaning specified in the introductory paragraph hereto and, as the context requires, includes the Swing Line Lender.


 


“Lending Office”
means, as to any Lender, the office or offices of such Lender described as such in such Lender’s Administrative Questionnaire,
or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent, which office
may include any Affiliate of such Lender or any domestic or foreign branch of such Lender or such Affiliate. Unless the context
otherwise requires each reference to a Lender shall include its applicable Lending Office.


 


“Letter of
Credit” means any letter of credit issued hereunder and shall include the Existing Letters of Credit. A Letter of Credit
may be (i) a standby letter of credit or (ii) a commercial Letter of Credit which is solely payable at sight.


 




    	-21-



     


    

 


“Letter of
Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form
from time to time in use by the L/C Issuer.


 


“Letter of
Credit Expiration Date” means the day that is seven days prior to the Maturity Date then in effect (or, if such day is
not a Business Day, the next preceding Business Day).


 


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


 


“Letter of
Credit Sublimit” means an amount equal to $35,000,000. The Letter of Credit Sublimit is part of, and not in addition
to, the Aggregate Commitments.


 


“LIBOR”
has the meaning specified in the definition of Eurodollar Rate.


 


“Lien”
shall mean any mortgage, pledge, security interest, lien (statutory or otherwise), charge, encumbrance, hypothecation, assignment,
deposit arrangement, or other arrangement having the practical effect of the foregoing or any preference, priority or other security
agreement or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention
agreement and any capital lease having the same economic effect as any of the foregoing).


 


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


 


“Loan Documents”
means this Agreement, each Note, each Issuer Document, any agreement creating or perfecting rights in Cash Collateral pursuant
to the provisions of Section 2.16 of this Agreement, the Fee Letters, the Subsidiary Guaranty Agreement and the Security
Agreement.


 


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


 


“London Banking
Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar
market.


 


“Material
Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations, business,
properties, liabilities, or financial condition of the Borrower or the Borrower and its Subsidiaries taken as a whole; (b) a material
impairment of the ability of any Loan Party to perform its payment obligations or material performance obligations under any Loan
Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability
against any Loan Party of any Loan Document to which it is a party.


 


“Material
Domestic Subsidiary” means at any time any direct or indirect Domestic Subsidiary of the Borrower having: (a) assets
in an amount equal to at least 5% of the total assets of the Borrower and its Subsidiaries determined on a consolidated basis as
of the last day of the most recent Fiscal Quarter at such time; or (b) operating income in an amount equal to at least 5% of the
total operating income of the Borrower and its Subsidiaries on a consolidated basis for the 12-month period ending on the last
day of the most recent Fiscal Quarter at such time.


 




    	-22-



     


    

 


“Material
Indebtedness” means Indebtedness (other than the Loans and Letters of Credit) and Hedging Obligations of the Borrower
or any of its Subsidiaries, individually or in an aggregate principal amount exceeding $25,000,000. For purposes of determining
the amount of attributed Indebtedness from Hedging Obligations, the “principal amount” of any Hedging Obligations at
any time shall be the Net Mark-to-Market Exposure of such Hedging Obligations.


 


“Maturity
Date” means the later of (a) July 26, 2023 and (b) if maturity is extended pursuant to Section 2.14, such extended
maturity date as determined pursuant to such Section; provided, however, that, in each case, if such date is not
a Business Day, the Maturity Date shall be the next preceding Business Day.


 


“MLPF&S”
means Merrill Lynch, Pierce, Fenner & Smith Incorporated (formerly known as Banc of America Securities LLC) and its successors
(or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of
America Corporation’s or any of its subsidiaries’ investment banking, commercial lending services or related businesses
may be transferred following the date of this Agreement).


 


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


 


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


 


“Net Book
Value” means, for any Eligible Account, the gross amount of such Eligible Account less (to the extent not otherwise deducted
in calculating such gross amount, and without duplication) sales, excise or similar taxes invoiced to the Account Debtor of such
Eligible Account, and less returns, discounts, claims, credits, allowances, accrued rebates, offsets, deductions, reserves, counterclaims,
disputes and other defenses of any nature at any time issued, owing, granted, outstanding, available or claimed in respect of such
Eligible Account.


 


“Net Mark-to-Market
Exposure” of any Person means, as of any date of determination with respect to any Hedging Obligation, the excess (if
any) of all unrealized losses over all unrealized profits of such Person arising from such Hedging Obligation. “Unrealized
losses” means the fair market value of the cost to such Person of replacing the Hedging Transaction giving rise to such Hedging
Obligation as of the date of determination (assuming the Hedging Transaction were to be terminated as of that date), and “unrealized
profits” means the fair market value of the gain to such Person of replacing such Hedging Transaction as of the date of determination
(assuming such Hedging Transaction were to be terminated as of that date).


 


“Note”
means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender, substantially in the form
of Exhibit C.


 




    	-23-



     


    

 


“Obligations”
means all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document
or otherwise with respect to any Loan, Letter of Credit or Related Cash Management Agreement or any Related Hedging Obligations,
in each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due,
now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party
or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless
of whether such interest and fees are allowed claims in such proceeding; provided, that Obligations of a Loan Party shall
exclude any Excluded Hedging Obligation with respect to such Loan Party.


 


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


 


“Off-Balance
Sheet Liabilities” of any Person means, without duplication, (i) any repurchase obligation or liability of such Person
with respect to accounts or notes receivable sold that does not create a liability on the balance sheet of such Person, (ii) any
liability of such Person under any sale and leaseback transactions that do not create a liability on the balance sheet of such
Person, (iii) any Synthetic Lease Obligation or (iv) any obligation arising with respect to any other transaction which is the
functional equivalent of or takes the place of borrowing but which does not constitute a liability on the balance sheet of such
Person.


 


“OSHA”
means the Occupational Safety and Health Act of 1970, as amended from time to time, and any successor statute.


 


“Organization
Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or
equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability
company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership,
joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation
or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or
organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable,
any certificate or articles of formation or organization of such entity.


 


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


 


“Other Taxes”
means all present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies arising
from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise
with respect to, this Agreement or any other Loan Document, except any such Taxes that are Other Connection Taxes imposed with
respect to an assignment (other than an assignment made pursuant to Section 3.06(b)).


 




    	-24-



     


    

 


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


 


“Participant”
has the meaning specified in Section 10.06(d).


 


“Participant
Register” has the meaning specified in Section 10.06(d).


 


“PATRIOT Act”
has the meaning specified in Section 10.18.


 


“PBGC”
means the Pension Benefit Guaranty Corporation.


 


“Pension Act”
means the Pension Protection Act of 2006.


 


“Pension Funding
Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any installment payment
thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section
412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act and, thereafter, Section 412, 430, 431, 432
and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.


 


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


 


“Permitted
Encumbrances” means:


 


(i)          Liens
imposed by law for taxes not yet delinquent or which are being contested in good faith by appropriate proceedings diligently conducted
and with respect to which adequate reserves are being maintained in accordance with GAAP;


 


(ii)         statutory
and common law Liens of landlords, carriers, warehousemen, mechanics, materialmen and similar Liens arising by operation of law
in the ordinary course of business for amounts not overdue by more than 30 days or which are being contested in good faith by appropriate
proceedings and with respect to which adequate reserves are being maintained in accordance with GAAP;


 


(iii)        pledges
and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and
other social security laws or regulations;


 




    	-25-



     


    

 


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


 


(v)         attachment
or other Liens securing judgments not giving rise to an Event of Default or Liens (in amounts which do not exceed the amounts set
forth in Section 8.01(k)) created by or existing from any litigation or legal proceeding prior to any judgment thereon that
are currently being contested in good faith by appropriate proceedings and with respect to which adequate reserves are being maintained
in accordance with GAAP;


 


(vi)        customary
liens and rights of set-off, revocation, refund or chargeback under deposit agreements or under the Uniform Commercial Code or
common law of banks or other financial institutions where Borrower or any of its Subsidiaries maintains deposits or investment
accounts (other than deposits intended as cash collateral) in the ordinary course of business; and


 


(vii)       easements,
zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of
business including leases and subleases of real property that do not secure any monetary obligations and do not materially detract
from the value of the affected property or materially interfere with the ordinary conduct of business of the Borrower and its Subsidiaries
taken as a whole;


 


provided, that
the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness.


 


“Permitted
Investments” means:


 


(i)          direct
obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States (or
by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States), in each case
maturing within one year from the date of acquisition thereof;


 


(ii)         commercial
paper having the highest rating, at the time of acquisition thereof, of Standard & Poor’s, a Division of the McGraw-Hill
Companies or Moody’s Investors Service, Inc. and in either case maturing within six months from the date of acquisition thereof;


 


(iii)        certificates
of deposit, bankers’ acceptances and time deposits maturing within 180 days of the date of acquisition thereof issued or
guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank
organized under the laws of the United States or any state thereof which has a combined capital and surplus and undivided profits
of not less than $500,000,000;


 


(iv)        fully
collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (i) above and
entered into with a financial institution satisfying the criteria described in clause (iii) above;


 




    	-26-



     


    

 


(v)         mutual
funds investing solely in any one or more of the Permitted Investments described in clauses (i) through (iv) above;
and


 


(vi)        Capital
Stock, obligations, securities or other property received by Borrower or any Subsidiary in settlement of accounts receivable created
in the ordinary course of business from bankrupt obligors.


 


“Person”
means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental
Authority or other entity.


 


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


 


“Platform”
has the meaning specified in Section 6.01.


 


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


 


“Public Lender”
has the meaning specified in Section 6.01.


 


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


 


“Recipient”
means the Administrative Agent, the L/C Issuer or any other Lender.


 


“Register”
has the meaning specified in Section 10.06(c).


 


“Related Cash
Management Agreement” means any Cash Management Agreement that is entered into by and between any Loan Party and any
Cash Management Bank.


 


“Related Hedging
Obligations” means any Hedging Obligation permitted under Article VI or VII that is entered into by and between any Loan
Party and any Hedge Bank.


 


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


 


“Release”
means any release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge, dispersal, leaching or
migration into the environment (including ambient air, surface water, groundwater, land surface or subsurface strata) or within
any building, structure, facility or fixture.


 


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


 




    	-27-



     


    

 


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


 


“Required
Lenders” means, as of any date of determination, Lenders having more than 50% of the Aggregate Commitments or, if the
commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated
pursuant to Section 8.02, Lenders holding in the aggregate more than 50% of the Total Outstandings (with the aggregate amount
of each Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held”
by such Lender for purposes of this definition); provided that the Commitment of, and the portion of the Total Outstandings
held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.


 


“Responsible
Officer” means the president, chief executive officer, chief operating officer, chief financial officer, treasurer or
vice president of a Loan Party; provided that (i) solely for purposes of notices given pursuant to Article II, “Responsible
Officer” shall include any other officer of the applicable Loan Party so designated by any of the foregoing officers in a
notice to the Administrative Agent, (ii) solely for purposes of the delivery of incumbency certificates pursuant to Section 4.01,
“Responsible Officer” shall include the secretary or any assistant secretary of a Loan Party, and (iii) with respect
to financial covenants and delivery of the Compliance Certificate described in Section 6.01(c), “Responsible Officer”
shall only mean the chief financial officer. Any document delivered hereunder that is signed by a Responsible Officer of a Loan
Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the
part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.


 


“Restricted
Payment” has the meaning specified in Section 7.05.


 


“Rollins Group”
means (a) R. Randall Rollins or Gary W. Rollins, (b) spouses, heirs, legatees, lineal descendants, and spouses of lineal descendants
of R. Randall Rollins or Gary W. Rollins, (c) trusts established for the benefit of spouses, lineal descendants and spouses of
lineal descendants of R. Randall Rollins or Gary W. Rollins and (d) any person which is directly or indirectly Controlled by a
person described in the preceding clauses (a), (b) or (c).


 


“Sanction(s)”
means any international economic sanction administered or enforced by the United States Government (including, without limitation,
OFAC), the United Nations Security Council, the European Union, Her Majesty’s Treasury.


 


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


 


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


 




    	-28-



     


    

 


“Security
Agreement” means that certain Security Agreement dated as of June 30, 2016 made by the Loan Parties in favor of the Administrative
Agents for the benefit of the Secured Parties, substantially in the form of Exhibit J attached hereto, as supplemented from
time to time by the execution and delivery of Security Joinder Agreements pursuant to Section 6.10, and as otherwise supplemented,
amended, or modified from time to time.


 


“Security
Instruments” means, collectively or individually as the context may indicate,


the Security Agreement,
any Security Joinder Agreement, and all other agreements, instruments and other documents, whether now existing or hereafter in
effect, pursuant to which the Borrower or any other Loan Party shall grant or convey to the Administrative Agent, for the benefit
of the Secured Parties a Lien in property as security for the Obligations.


 


“Security
Joinder Agreement” means the Security Joinder Agreement, substantially in the form thereof attached to the Security Agreement,
executed and delivered by a Subsidiary Loan Party to the Administrative Agent and the Lenders pursuant to Section 6.10.


 


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


 


“Specified
Loan Party” means any Loan Party that is not then an “eligible contract participant” under the Commodity
Exchange Act (determined prior to giving effect to Section 9.18).


 


“Subsidiary”
shall mean, with respect to any Person (the “parent”), any corporation, partnership, joint venture, limited
liability company, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s
consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as
any other corporation, partnership, joint venture, limited liability company, association or other entity (i) of which securities
or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power, or in the
case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (ii)
that is, as of such date, otherwise controlled, by the parent or one or more subsidiaries of the parent or by the parent and one
or more subsidiaries of the parent. Unless otherwise indicated, all references to “Subsidiary” hereunder shall mean
a Subsidiary of the Borrower.


 


“Subsidiary
Guaranty Agreement” means the Guaranty Agreement dated as of the date hereof made by the Subsidiary Loan Parties in favor
of the Administrative Agent and the Lenders, substantially in the form of Exhibit F, as supplemented from time to time by
the execution and delivery of any Subsidiary Guaranty Joinder Agreement pursuant to Section 6.10.


 


“Subsidiary
Guaranty Joinder Agreement” means the Guaranty Joinder Agreement, substantially in the form thereof attached to the Subsidiary
Guaranty Agreement, executed and delivered by a Subsidiary Loan Party to the Administrative Agent and the Lenders pursuant to Section
6.10.


 




    	-29-



     


    

 


“Subsidiary
Loan Party” means, collectively, the Material Domestic Subsidiaries of the Borrower on the Closing Date and each other
Person who becomes a party to the Subsidiary Guaranty Agreement (including by execution of a Subsidiary Guaranty Joinder Agreement).


 


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


 


“Swing Line
Lender” means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder.


 


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


 


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


 


“Swing Line
Sublimit” means an amount equal to the lesser of (a) $35,000,000 and (b) the Advance Limit. The Swing Line Sublimit is
part of, and not in addition to, the Aggregate Commitments.


 


“Synthetic
Lease” means a lease transaction under which the parties intend that (i) the lease will be treated as an “operating
lease” by the lessee pursuant to FASB ASC 840, as amended and (ii) the lessee will be entitled to various tax and other benefits
ordinarily available to owners (as opposed to lessees) of like property.


 


“Synthetic
Lease Obligations” means, with respect to any Person, the sum of (i) all remaining rental obligations of such Person
as lessee under Synthetic Leases which are attributable to principal and, without duplication, (ii) all rental and purchase price
payment obligations of such Person under such Synthetic Leases assuming such Person exercises the option to purchase the lease
property at the end of the lease term.


 


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


 


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


 


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


 


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


 




    	-30-



     


    

 


“UCP”
has the meaning specified in Section 2.03(g).


 


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


 


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


 


“Write-Down
and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such
EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule.


 


“2016 Field
Exam” has the meaning specified in Section 6.07.


 


1.02       Other
Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or
in such other Loan Document:


 


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


 


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


 




    	-31-



     


    

 


(c)          Section
headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the interpretation
of this Agreement or any other Loan Document.


 


1.03       Accounting
Terms.


 


(a)          Generally.
All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data
(including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared
in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that
used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. Notwithstanding
the foregoing, for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained
herein, Indebtedness of the Borrower and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount
thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities shall be disregarded and no effect will be
given to any change in GAAP requiring leases which were previously classified as operating leases to be classified as capitalized
leases.


 


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


 


(c)          Consolidation
of Variable Interest Entities. All references herein to consolidated financial statements of the Borrower and its Subsidiaries
or to the determination of any amount for the Borrower and its Subsidiaries on a consolidated basis or any similar reference shall,
in each case, be deemed to include each variable interest entity that the Borrower is required to consolidate pursuant to FASB
ASC 810 as if such variable interest entity were a Subsidiary as defined herein.


 


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


 


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


 




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


 


ARTICLE
II.     the COMMITMENTS and Credit Extensions


 


2.01       Committed
Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a
“Committed Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in
an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment; provided, however,
that after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the Advance Limit, and (ii) the
aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the
Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all
Swing Line Loans shall not exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject
to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section 2.05,
and reborrow under this Section 2.01. Committed Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided
herein.


 


2.02       Borrowings,
Conversions and Continuations of Committed Loans.


 


(a)          Each
Committed Borrowing, each conversion of Committed Loans from one Type to the other, and each continuation of Eurodollar Rate Loans
shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or
(B) a Committed Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative
Agent of a Committed Loan Notice. Each such Committed Loan Notice must be received by the Administrative Agent not later than 11:00
a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate
Loans or of any conversion of Eurodollar Rate Loans to Base Rate Committed Loans, and (ii) on the requested date of any Borrowing
of Base Rate Committed Loans. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal
amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04,
each Borrowing of or conversion to Base Rate Committed Loans shall be in a principal amount of $500,000 or a whole multiple of
$100,000 in excess thereof. Each Committed Loan Notice shall specify (i) whether the Borrower is requesting a Committed Borrowing,
a conversion of Committed Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date
of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of
Committed Loans to be borrowed, converted or continued, (iv) the Type of Committed Loans to be borrowed or to which existing Committed
Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails
to specify a Type of Committed Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion
or continuation, then the applicable Committed Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion
to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar
Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Committed
Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.


 




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(b)          Following
receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable
Percentage of the applicable Committed Loans, and if no timely notice of a conversion or continuation is provided by the Borrower,
the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described in the
preceding subsection. In the case of a Committed Borrowing, each Lender shall make the amount of its Committed Loan available to
the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 1:00 p.m. on
the Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable conditions set forth in
Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent shall
make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting
the account of the Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of such funds,
in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower;
provided, however, that if, on the date the Committed Loan Notice with respect to such Borrowing is given by the
Borrower, there are L/C Borrowings outstanding, then the proceeds of such Borrowing, first, shall be applied to the payment
in full of any such L/C Borrowings, and second, shall be made available to the Borrower as provided above.


 


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


 


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


 


(e)          After
giving effect to all Committed Borrowings, all conversions of Committed Loans from one Type to the other, and all continuations
of Committed Loans as the same Type, there shall not be more than ten (10) Interest Periods in effect with respect to Committed
Loans.


 


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


 




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2.03       Letters
of Credit.


 


(a)          The
Letter of Credit Commitment.


 


(i)          Subject
to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the Lenders set forth
in this Section 2.03, (1) from time to time on any Business Day during the period from the Closing Date until the Letter
of Credit Expiration Date, to issue Letters of Credit for the account of the Borrower or its Subsidiaries, and to amend or extend
Letters of Credit previously issued by it, in accordance with subsection (b) below, and (2) to honor drawings under the Letters
of Credit; and (B) the Lenders severally agree to participate in Letters of Credit issued for the account of the Borrower or its
Subsidiaries and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to
any Letter of Credit, (x) the Total Outstandings shall not exceed the Advance Limit, (y) the aggregate Outstanding Amount of the
Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations,
plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s
Commitment, and (z) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request
by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that
the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the
foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall
be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters
of Credit that have expired or that have been drawn upon and reimbursed. All Existing Letters of Credit shall be deemed to have
been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof.


 


(ii)         The
L/C Issuer shall not issue any Letter of Credit, if:


 


(A)         subject
to Section 2.03(b)(iii), the expiry date of the requested Letter of Credit would occur more than twelve months after the
date of issuance or last extension, unless the Required Lenders have approved such expiry date; or


 


(B)         the
expiry date of the requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all the Lenders have
approved such expiry date.


 


(iii)        The
L/C Issuer shall not be under any obligation to issue any Letter of Credit if:


 


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


 




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


 


(C)         with
respect to any commercial Letter of Credit, such Letter of Credit is not payable at sight;


 


(D)         the
Letter of Credit is to be denominated in a currency other than Dollars;


 


(E)         any
Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the delivery of Cash
Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate the L/C Issuer’s
actual or potential Fronting Exposure (after giving effect to Section 2.17(a)(iv)) with respect to the Defaulting Lender
arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to
which the L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion; or


 


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


 


(iv)        The
L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be permitted at such time to issue the Letter of Credit
in its amended form under the terms hereof.


 


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


 


(vi)        The
L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith,
and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX
with respect to any acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed
to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent”
as used in Article IX included the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein
with respect to the L/C Issuer.


 




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(b)          Procedures
for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit.


 


(i)          Each
Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to the L/C Issuer (with
a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible
Officer of the Borrower. Such Letter of Credit Application may be sent by facsimile, by United States mail, by overnight courier,
by electronic transmission using the system provided by the L/C Issuer, by personal delivery or by any other means acceptable to
the L/C Issuer. Such Letter of Credit Application must be received by the L/C Issuer and the Administrative Agent not later than
11:00 a.m. at least two Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may agree in
a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In
the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and
detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business
Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents
to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by
such beneficiary in case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H) such
other matters as the L/C Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of
Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer (A) the Letter of Credit
to be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment;
and (D) such other matters as the L/C Issuer may reasonably require. Additionally, the Borrower shall furnish to the L/C Issuer
and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment,
including any Issuer Documents, as the L/C Issuer or the Administrative Agent may reasonably require


 


(ii)         Promptly
after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent (by telephone or in
writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not,
the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from
any Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the requested date of issuance or amendment
of the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall not then be satisfied,
then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the
account of the Borrower (or the applicable Subsidiary) or enter into the applicable amendment, as the case may be, in each case
in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance of each Letter
of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a
risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Applicable Percentage times
the amount of such Letter of Credit.


 




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(iii)        If
the Borrower so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole discretion, agree to issue
a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided
that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at least once in each twelve-month
period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later
than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time
such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific
request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be
deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to
an expiry date not later than the Letter of Credit Expiration Date; provided, however, that the L/C Issuer shall
not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted, or would have no obligation,
at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions
of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone
or in writing) on or before the day that is seven Business Days before the Non-Extension Notice Date (1) from the Administrative
Agent that the Required Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Lender or the
Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and in each such
case directing the L/C Issuer not to permit such extension.


 


(iv)        Promptly
after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to
the beneficiary thereof, the L/C Issuer will also deliver to the Borrower and the Administrative Agent a true and complete copy
of such Letter of Credit or amendment.


 


(c)          Drawings
and Reimbursements; Funding of Participations.


 


(i)          Upon
receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall
notify the Borrower and the Administrative Agent thereof. Not later than 11:00 a.m. on the date of any payment by the L/C Issuer
under a Letter of Credit (each such date, an “Honor Date”), the Borrower shall reimburse the L/C Issuer through
the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse the L/C Issuer
by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing
(the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Percentage thereof. In such event,
the Borrower shall be deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an
amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal
amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions
set forth in Section 4.02 (other than the delivery of a Committed Loan Notice). Any notice given by the L/C Issuer or the
Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing;
provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.


 




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(ii)         Each
Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available (and the Administrative Agent may apply
Cash Collateral provided for this purpose) for the account of the L/C Issuer at the Administrative Agent’s Office in an amount
equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice
by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Lender that so makes funds
available shall be deemed to have made a Base Rate Committed Loan to the Borrower in such amount. The Administrative Agent shall
remit the funds so received to the L/C Issuer.


 


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


 


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


 


(v)         Each
Lender’s obligation to make Committed Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of
Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance,
including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the L/C Issuer, the
Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other occurrence,
event or condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation
to make Committed Loans pursuant to this Section 2.03(c) is subject to the conditions set forth in Section 4.02 (other
than delivery by the Borrower of a Committed Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the
obligation of the Borrower to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of
Credit, together with interest as provided herein.


 


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


 




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(d)          Repayment
of Participations.


 


(i)          At
any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Lender such Lender’s
L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives for the
account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from
the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative
Agent will distribute to such Lender its Applicable Percentage thereof in the same funds as those received by the Administrative
Agent.


 


(ii)         If
any payment received by the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(i) is required
to be returned under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into
by the L/C Issuer in its discretion), each Lender shall pay to the Administrative Agent for the account of the L/C Issuer its Applicable
Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount
is returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of
the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement.


 


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


 


(i)          any
lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document;


 


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


 


(iii)        any
draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or
insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission
or otherwise of any document required in order to make a drawing under such Letter of Credit;


 




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


 


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


 


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


 


(vii)       any
payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply
with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting
to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative
of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding
under any Debtor Relief Law; or


 


(viii)      any
other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that
might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary.


 


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


 




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(f)           Role
of L/C Issuer. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall
not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by
the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person
executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties
nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted
in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii) any action
taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity
or enforceability of any document or instrument related to any Letter of Credit or Issuer Document. The Borrower hereby assumes
all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided,
however, that this assumption is not intended to, and shall not, preclude the Borrower’s pursuing such rights and
remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, the
Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer
shall be liable or responsible for any of the matters described in clauses (i) through (v) of Section 2.03(e);
provided, however, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against
the L/C Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed
to consequential or exemplary, damages suffered by the Borrower which the Borrower proves, as determined by a final nonappealable
judgment of a court of competent jurisdiction, were caused by the L/C Issuer’s willful misconduct, breach in bad faith or
gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the
beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance
and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility
for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible
for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit
or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for
any reason. The L/C Issuer may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society
for Worldwide Interbank Financial Telecommunication (“SWIFT”) message or overnight courier, or any other commercially
reasonable means of communicating with a beneficiary.


 


(g)          Applicability
of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued (including
any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of
Credit, and (ii) the rules of the Uniform Customs and Practice
for Documentary Credits, International Chamber of Commerce (“ICC”) Publication No. 600 (or such later version
thereof as may be in effect at the time of issuance) (the “UCP”) shall apply to each commercial Letter of Credit.
Notwithstanding the foregoing, the L/C Issuer shall not be responsible to the Borrower for, and the L/C Issuer’s rights and
remedies against the Borrower shall not be impaired by, any action or inaction of the L/C Issuer required or permitted under any
law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law
or any order of a jurisdiction where the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable,
or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association
for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law
& Practice, whether or not any Letter of Credit chooses such law or practice


 




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(h)          Letter
of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable
Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable
Rate times the daily amount available to be drawn under such Letter of Credit; provided, however, any Letter of Credit
Fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting
Lender has not provided Cash Collateral satisfactory to the L/C Issuer pursuant to this Section 2.03 shall be payable, to
the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective
Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee,
if any, payable to the L/C Issuer for its own account. For purposes of computing the daily amount available to be drawn under any
Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. Letter of Credit
Fees shall be (i) due and payable on the first Business Day after the end of each March, June, September and December, commencing
with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter
on demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter,
the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately
for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained
herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at
the Default Rate.


 


(i)           Fronting
Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrower shall pay directly to the L/C Issuer for its
own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate specified in the Fee Letters, computed
on the amount of such Letter of Credit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial
Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrower and the L/C Issuer,
computed on the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby
Letter of Credit, at the rate per annum specified in the Fee Letters, computed on the daily amount available to be drawn under
such Letter of Credit on a quarterly basis in arrears Such fronting fee shall be due and payable on the tenth Business Day after
the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof,
in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on
the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn
under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In
addition, the Borrower shall pay directly to the L/C Issuer for its own account the customary issuance, presentation, amendment
and other processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to
time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.


 


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


 


(k)           Letters
of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of
any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the L/C Issuer hereunder
for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for
the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits
from the businesses of such Subsidiaries.


 




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(l)           Reporting
of Letter of Credit Information. (i) Upon the request of the Administrative Agent to the L/C Issuer, which request shall not
be more frequent than monthly, and (ii) on each date that an L/C Credit Extension occurs with respect to any Letter of Credit,
the L/C Issuer shall deliver to the Administrative Agent a report in the form of Exhibit H hereto, appropriately completed
with the information for every Letter of Credit issued by the L/C Issuer that is outstanding hereunder.


 


2.04       Swing
Line Loans.


 


(a)          The
Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of
the other Lenders set forth in this Section 2.04, may in its sole discretion make loans (each such loan, a “Swing
Line Loan”) to the Borrower from time to time on any Business Day during the Availability Period in an aggregate amount
not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans,
when aggregated with the Applicable Percentage of the Outstanding Amount of Committed Loans and L/C Obligations of the Lender acting
as Swing Line Lender, may exceed the amount of such Lender’s Commitment; provided, however, that after giving
effect to any Swing Line Loan, (i) the Total Outstandings shall not exceed the Advance Limit, and (ii) the aggregate Outstanding
Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of
all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Commitment, and provided, further, that the Borrower shall not use the proceeds of
any Swing Line Loan to refinance any outstanding Swing Line Loan, and (z) the Swing Line Lender shall not be under any obligation
to make any Swing Line Loan if it shall determine (which determination shall be conclusive and binding absent manifest error) that
it has, or by such Credit Extension may have, Fronting Exposure. Within the foregoing limits, and subject to the other terms and
conditions hereof, the Borrower may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under
this Section 2.04. Each Swing Line Loan shall be a Eurodollar Rate Loan. Immediately upon the making of a Swing Line Loan,
each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk
participation in such Swing Line Loan in an amount equal to the product of such Lender’s Applicable Percentage times
the amount of such Swing Line Loan.


 


(b)          Borrowing
Procedures. Each Swing Line Borrowing shall be made upon the Borrower’s irrevocable notice to the Swing Line Lender and
the Administrative Agent, which may be given by (A) telephone or (B) by a Swing Line Loan Notice; provided that any telephonic
notice must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a Swing Line Loan Notice.
Each such Swing Line Loan must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the
requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $100,000, and (ii) the requested
borrowing date, which shall be a Business Day. Promptly after receipt by the Swing Line Lender of any Swing Line Loan Notice, the
Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also
received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Administrative Agent (by telephone or in
writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative
Agent (including at the request of any Lender) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing (A) directing
the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first proviso to the first
sentence of Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article IV is not
then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on the borrowing
date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Borrower by crediting the
account designated by the Borrower (and reasonably acceptable to the Administrative Agent) in immediately available funds. Subject
to the provisions set forth in Sections 3.02 and 3.03, each Swing Line Loan shall continue as a Eurodollar Rate Loan
with one or more Interest Periods determined from time to time in accordance with clause (b) of the definition thereof.


 




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(c)          Refinancing
of Swing Line Loans.


 


(i)          The
Swing Line Lender at any time in its sole discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes
the Swing Line Lender to so request on its behalf), that each Lender make a Eurodollar Rate Committed Loan in an amount equal to
such Lender’s Applicable Percentage of the amount of Swing Line Loans then outstanding. Such request shall be made in writing
(which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements
of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Eurodollar Rate
Loans, but subject to the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02.
The Swing Line Lender shall furnish the Borrower with a copy of the applicable Committed Loan Notice promptly after delivering
such notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified
in such Committed Loan Notice available to the Administrative Agent in immediately available funds (and the Administrative Agent
may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at
the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon,
subject to Section 2.04(c)(ii), each Lender that so makes funds available shall be deemed to have made a Eurodollar Rate
Committed Loan (with one or more Interest Periods determined from time to time in accordance with in clause (b) of the definition
thereof) to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender.


 


(ii)         If
for any reason any Swing Line Loan cannot be refinanced by such a Committed Borrowing in accordance with Section 2.04(c)(i),
the request for Eurodollar Rate Committed Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a
request by the Swing Line Lender that each of the Lenders fund its risk participation in the relevant Swing Line Loan and each
Lender’s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i)
shall be deemed payment in respect of such participation.


 




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


 


(iv)        Each
Lender’s obligation to make Committed Loans or to purchase and fund risk participations in Swing Line Loans pursuant to this
Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff,
counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Borrower or any
other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition,
whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Committed
Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 4.02. No such funding of
risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans, together with interest
as provided herein.


 


(d)          Repayment
of Participations.


 


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


 


(ii)         If
any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is required to be returned
by the Swing Line Lender under any of the circumstances described in Section 10.05 (including pursuant to any settlement
entered into by the Swing Line Lender in its discretion), each Lender shall pay to the Swing Line Lender its Applicable Percentage
thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned,
at a rate per annum equal to the Federal Funds Rate. The Administrative Agent will make such demand upon the request of the Swing
Line Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination
of this Agreement.


 


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


 




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


 


2.05       Prepayments.


 


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


 


(b)          The
Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or from time to time,
voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (i) such notice must be
received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the date of the prepayment, and (ii)
any such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify the date and amount of such
prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in
such notice shall be due and payable on the date specified therein.


 


(c)          If
for any reason the Total Outstandings at any time exceed the Advance Limit then in effect, the Borrower shall prepay Loans and/or
Cash Collateralize the L/C Obligations within two Business Days in an aggregate amount equal to such excess; provided, however,
that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(c) unless
after the prepayment in full of the Committed Loans and Swing Line Loans the Total Outstandings exceed the Advance Limit then in
effect.


 




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2.06       Termination
or Reduction of Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments,
or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative
Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction
shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall
not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder,
the Total Outstandings would exceed the Advance Limit, and (iv) if, after giving effect to any reduction of the Aggregate Commitments,
the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit shall be
automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice
of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment
of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate
Commitments shall be paid on the effective date of such termination. Without limitation of any provision set forth in Sections
2.05 or 3.05, any notice of termination of the Aggregate Commitment in whole delivered by the Borrower pursuant to this
Section may state that such notice is conditioned upon the consummation of financing that will refinance the credit facility provided
by this Agreement, in which case such notice may be revoked by the Borrower if such condition is not satisfied (by notice from
the Borrower to the Administrative Agent on or prior to the specified effective date).


 


2.07       Repayment
of Loans.


 


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


 


(b)          The
Borrower shall repay each Swing Line Loan on the Maturity Date.


 


2.08         Interest.


 


(a)          Subject
to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan (including each Swing Line Loan) shall bear interest
on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such
Interest Period plus the Applicable Rate; and (ii) each Base Rate Committed Loan shall bear interest on the outstanding
principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable
Rate.


 


(b)          (i)          If
any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity,
by acceleration or otherwise, such unpaid amount shall thereafter bear interest at a fluctuating interest rate per annum at all
times equal to the Default Rate to the fullest extent permitted by applicable Laws.


 


(ii)         If
any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard
to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required
Lenders, such unpaid amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default
Rate to the fullest extent permitted by applicable Laws.


 




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


 


(c)          Interest
on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may
be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment,
and before and after the commencement of any proceeding under any Debtor Relief Law.


 


2.09       Fees.
In addition to certain fees described in subsections (h) and (i) of Section 2.03:


 


(a)          Commitment
Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage,
a commitment fee equal to the Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the
sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment
as provided in Section 2.17. The commitment fee shall accrue at all times during the Availability Period, including at any
time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears
on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing
Date, and on the last day of the Availability Period. The commitment fee shall be calculated quarterly in arrears, and if there
is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable
Rate separately for each period during such quarter that such Applicable Rate was in effect.


 


(b)          Other
Fees. (i) The Borrower shall pay to MLPF&S and the Administrative Agent for their own respective accounts fees in the amounts
and at the times specified in the Fee Letters. Such fees shall be fully earned when paid and shall not be refundable for any reason
whatsoever.


 


(ii)         The
Borrower shall pay to the Lenders such fees as shall have been separately agreed upon in writing in the amounts and at the times
so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.


 


2.10       Computation
of Interest and Fees; Retroactive Adjustments of Applicable Rate. (a)      All computations of
interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurodollar Rate) shall be made on the basis
of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be
made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid
than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and
shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that
any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day.
Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes,
absent manifest error.


 




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(b)          If,
as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the
Borrower or the Lenders determine that (i) the Consolidated Leverage Ratio as calculated by the Borrower as of any applicable date
was inaccurate and (ii) a proper calculation of the Consolidated Leverage Ratio would have resulted in higher pricing for such
period, the Borrower shall promptly and retroactively be obligated to pay to the Administrative Agent for the account of the applicable
Lenders or the L/C Issuer, as the case may be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual
or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, automatically
and without further action by the Administrative Agent, any Lender or the L/C Issuer), an amount equal to the excess of the amount
of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period.
This paragraph shall not limit the rights of the Administrative Agent, any Lender or the L/C Issuer, as the case may be, under
Section 2.03(c)(iii), 2.03(h) or 2.08(b) or under Article VIII. The Borrower’s obligations under
this paragraph shall survive the termination of the Aggregate Commitments and the repayment of all other Obligations hereunder.
In the event the calculation set forth above would have resulted in lower pricing for such period, nothing in this Section 2.10(b)
is intended to prohibit the Borrower from proceeding directly against a Lender for the excess of the amount of interest and fees
actually paid for such period over the amount of interest and fees which should have been paid for such period, provided that in
no event shall the Administrative Agent be under any obligation to participate in, incur any costs with respect to, make any contact
with the Borrower or any third party with respect to, or otherwise be engaged in, any such claim.


 


2.11       Evidence
of Debt.


 


(a)          The
Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the
Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each
Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and
the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect
the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict
between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of
such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request
of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative
Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules
to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.


 


(b)          In
addition to the accounts and records referred to in subsection (a), each Lender and the Administrative Agent shall maintain
in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in
Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and records maintained by the Administrative
Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent
shall control in the absence of manifest error.


 




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2.12       Payments
Generally; Administrative Agent’s Clawback.


 


(a)          General.
All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment
or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative
Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars
and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly
distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds
as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 2:00
p.m. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue.
If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next
following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be.


 


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


 




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(ii)         Payments
by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder
that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such
date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case
may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the L/C Issuer,
as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such
Lender or the L/C Issuer, in immediately available funds with interest thereon, for each day from and including the date such amount
is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate
and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.


 


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


 


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


 


(d)          Obligations
of Lenders Several. The obligations of the Lenders hereunder to make Committed Loans, to fund participations in Letters of
Credit and Swing Line Loans and to make payments pursuant to Section 10.04(c) are several and not joint. The failure of
any Lender to make any Committed Loan, to fund any such participation or to make any payment under Section 10.04(c) on any
date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender
shall be responsible for the failure of any other Lender to so make its Committed Loan, to purchase its participation or to make
its payment under Section 10.04(c).


 


(e)          Funding
Source. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner
or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place
or manner.


 




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2.13       Sharing
of Payments by Lenders. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment
in respect of any principal of or interest on any of the Committed Loans made by it, or the participations in L/C Obligations or
in Swing Line Loans held by it resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such
Committed Loans or participations and accrued interest thereon greater than its pro rata share thereof as provided herein, then
the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash
at face value) participations in the Committed Loans and subparticipations in L/C Obligations and Swing Line Loans of the other
Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the
Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Committed Loans
and other amounts owing them, provided that:


 


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


 


(ii)         the
provisions of this Section shall not be construed to apply to (x) any payment made by or on behalf of the Borrower pursuant to
and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a
Defaulting Lender), (y) the application of Cash
Collateral provided for in Section 2.16,
or (z) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its
Committed Loans or subparticipations in L/C Obligations or Swing Line Loans to any assignee or participant, other than an assignment
to the Borrower or any Affiliate thereof (as to which the provisions of this Section shall apply).


 


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


 


2.14       Extension
of Maturity Date.


 


(a)          Requests
for Extension. The Borrower may, by notice to the Administrative Agent (who shall promptly notify the Lenders), request that
each Lender extend such Lender’s Maturity Date for a year from the Maturity Date then in effect hereunder (giving effect
to any prior such extension in the case of a second request, the “Existing Maturity Date”), which such notice
shall be delivered by the Borrower at least 60 days prior to the then Existing Maturity Date; provided that (i) the Borrower
may make no more than two such requests during the term of this Agreement and (ii) in no event shall the Maturity Date be extended
beyond July 26, 2025.


 


(b)          Lender
Elections to Extend. Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent
given on or before a date specified by the Borrower in its request (the “Notice Date”; which Notice Date may
not be (x) earlier than the date that is 30 days after the date of such request or (y) later than the date which is 15 days prior
to the then Existing Maturity Date), advise the Administrative Agent whether or not such Lender agrees to such extension (and each
Lender that determines not to so extend its Maturity Date (each, a “Non-Extending Lender”) shall notify the
Administrative Agent of such fact promptly after such determination (but in any event no later than the Notice Date)) and any Lender
that does not so advise the Administrative Agent on or before the Notice Date shall be deemed to be a Non-Extending Lender. The
election of any Lender to agree to such extension shall not obligate any other Lender to so agree.


 




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(c)          Notification
by Administrative Agent. The Administrative Agent shall notify the Borrower of each Lender’s determination under this
Section no later than the date 15 days prior to the Existing Maturity Date (or, if such date is not a Business Day, on the next
preceding Business Day).


 


(d)          Additional
Commitment Lenders. The Borrower shall have the right on or before the Existing Maturity Date to replace each Non-Extending
Lender with, and add as “Lenders” under this Agreement in place thereof, one or more Eligible Assignees (each, an “Additional
Commitment Lender”) as provided in Section 10.13, each of which Additional Commitment Lenders shall have agreed
to the requested extension of the Maturity Date and shall have entered into an Assignment and Assumption pursuant to which such
Additional Commitment Lender shall, effective on or prior to the Existing Maturity Date, undertake a Commitment (and, if any such
Additional Commitment Lender is already a Lender, its Commitment shall be in addition to such Lender’s Commitment hereunder
on such date).


 


(e)          Minimum
Extension Requirement. If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Maturity
Date (each an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders shall
be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the Existing Maturity Date, then, effective
as of the Existing Maturity Date, the Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be
extended to the date falling one year after the Existing Maturity Date (except that, if such date is not a Business Day, such Maturity
Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender”
for all purposes of this Agreement. If any such extension of the Maturity Date is made effective pursuant to the provisions of
this Section 2.14, the Maturity Date of each Non-Extending Lender shall be the Maturity Date in effect immediately prior
to the effectiveness of such extension.


 


(f)          Conditions
to Effectiveness of Extensions. As a condition precedent to such extension, the Borrower shall deliver to the Administrative
Agent a certificate of each Loan Party dated as of the Existing Maturity Date (in sufficient copies for each Extending Lender and
each Additional Commitment Lender) signed by a Responsible Officer of such Loan Party (i) certifying and attaching the resolutions
adopted by such Loan Party approving or consenting to such extension and (ii) in the case of the Borrower, certifying that, before
and after giving effect to such extension, (A) the representations and warranties contained in Article V and the other Loan
Documents are true and correct on and as of the Existing Maturity Date, except to the extent that such representations and warranties
specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes
of this Section 2.14, the representations and warranties contained in Section 5.04 shall be deemed to refer to the
most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01, and (B) no Default
exists. In addition, on the Maturity Date of each Non-Extending Lender, the Borrower shall prepay any Committed Loans outstanding
on such date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep outstanding
Committed Loans ratable with any revised Applicable Percentages of the respective Lenders effective as of such date.


 




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(g)          Conflicting
Provisions. This Section shall supersede any provisions in Section 2.13 or 10.01 to the contrary.


 


2.15       Increase
in Commitments. 


 


(a)          Request
for Increase. Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders),
the Borrower may from time to time, request an increase in the Aggregate Commitments by an amount (for all such requests) not exceeding
$75,000,000 plus the amount, if any, by which the Aggregate Commitments have been reduced as the result of any termination
of the Commitment of any Lender pursuant to Section 10.13 (the “Aggregate Increase Amount”); provided
that (i) any such request for an increase shall be in a minimum amount of $25,000,000 (or, if less, the entire remaining amount
of the Aggregate Increase Amount) and in increments of $10,000,000 in excess thereof, and (ii) the Borrower may make a maximum
of two such requests. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify
the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the
date of delivery of such notice to the Lenders).


 


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


 


(c)          Notification
by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower and each Lender of the Lenders’
responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the
Administrative Agent, the L/C Issuer and the Swing Line Lender (which approvals shall not be unreasonably withheld), the Borrower
may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance reasonably
satisfactory to the Administrative Agent.


 


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


 




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(e)          Conditions
to Effectiveness of Increase. As a condition precedent to such increase, (i) the Borrower shall deliver to the Administrative
Agent a certificate of each Loan Party dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by
a Responsible Officer of such Loan Party (x) certifying and attaching the resolutions adopted by such Loan Party approving or consenting
to such increase, and (y) in the case of the Borrower, certifying that, before and after giving effect to such increase, (A) the
representations and warranties contained in Article V and the other Loan Documents are true and correct on and as of the
Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in
which case they are true and correct as of such earlier date, and except that for purposes of this Section 2.15, the representations
and warranties contained in Section 5.04 shall be deemed to refer to the most recent statements furnished pursuant to clauses
(a) and (b), respectively, of Section 6.01, and (B) no Default exists, (ii) upon the reasonable request of any
Lender made at least ten (10) days prior to the Increase Effective Date, the Borrower shall provide to such Lender, and such Lender
shall be reasonably satisfied with, the documentation and other information so requested in connection with applicable “know
your customer” and anti-money-laundering rules and regulations, including the Patriot Act, in each case at least five (5)
days prior to the Increase Effective Date, and (iii) at least five (5) days prior to the Increase Effective Date, if Borrower qualifies
as a “legal entity customer” under the Beneficial Ownership Regulation, the Borrower shall deliver a Beneficial Ownership
Certification in relation to the Borrower. The Borrower shall prepay any Committed Loans outstanding on the Increase Effective
Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding
Committed Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this
Section.


 


(f)          Conflicting
Provisions. This Section shall supersede any provisions in Section 2.13 or 10.01 to the contrary.


 


2.16       Cash
Collateral.


 


(a)          Certain
Credit Support Events. Upon the request of the Administrative Agent or the L/C Issuer (i) if the L/C Issuer has honored any
full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if, as of
the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrower shall, in each case,
promptly Cash Collateralize the then Outstanding Amount of all L/C Obligations. At any time that there shall exist a Defaulting
Lender, promptly upon the request of the Administrative Agent, the L/C Issuer or the Swing Line Lender, the Borrower shall deliver
to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure (after giving effect to Section
2.17(a)(iv) and any Cash Collateral provided by the Defaulting Lender).


 


(b)          Grant
of Security Interest. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained
in blocked, non-interest bearing deposit accounts at Bank of America. The Borrower, and to the extent provided by any Lender, such
Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent,
the L/C Issuer and the Lenders (including the Swing Line Lender), and agrees to maintain, a first priority security interest in
all such cash, deposit accounts and all balances therein, and all other property so provided in connection with the Cash Collateral
requirements set forth herein, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral
may be applied pursuant to Section 2.16(c). If at any time the Administrative Agent determines that Cash Collateral is subject
to any right or claim of any Person other than the Administrative Agent as herein provided, or that the total amount of such Cash
Collateral is less than the applicable Fronting Exposure and other obligations secured thereby, the Borrower or the relevant Defaulting
Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral
in an amount sufficient to eliminate such deficiency.


 




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(c)          Application.
Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this Section 2.16
or Sections 2.03, 2.04, 2.05, 2.17 or 8.02 in respect of Letters of Credit or Swing Line Loans
shall be held and applied to the satisfaction of
the specific L/C Obligations, Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral provided
by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided,
prior to any other application of such property as may be provided for herein. 


 


(d)          Release.
Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or other obligations shall be released
promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including
by the termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance
with Section 10.06(b)(vi))) or (ii) the Administrative Agent’s good faith determination that there exists excess Cash
Collateral; provided, however, (x) that Cash Collateral furnished by or on behalf of a Loan Party shall not be released
during the continuance of a Default or Event of Default (and following application as provided in this Section 2.16 may
be otherwise applied in accordance with Section 8.03), and (y) the Person providing Cash Collateral and the L/C Issuer or
Swing Line Lender, as applicable, may agree that Cash Collateral shall not be released but instead held to support future anticipated
Fronting Exposure or other obligations.


 


2.17       Defaulting
Lenders.


 


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


 


(i)          Waivers
and Amendments. That Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect
to this Agreement shall be restricted as set forth in the definition of “Required Lenders” and Section 10.01.


 




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(ii)         Reallocation
of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account
of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise, and including
any amounts made available to the Administrative Agent by that Defaulting Lender pursuant to Section 10.08), shall be applied
at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts
owing by that Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any
amounts owing by that Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; third, if so determined by the
Administrative Agent or requested by the L/C Issuer or Swing Line Lender, to be held as Cash Collateral for future funding obligations
of that Defaulting Lender of any participation in any Swing Line Loan or Letter of Credit; fourth, as the Borrower may request
(so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting Lender has failed
to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined
by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to
satisfy obligations of that Defaulting Lender to fund Loans under this Agreement; sixth, to the payment of any amounts owing
to the Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by
any Lender, the L/C Issuer or Swing Line Lender against that Defaulting Lender as a result of that Defaulting Lender’s breach
of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any
amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against
that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and eighth,
to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment
is a payment of the principal amount of any Loans or L/C Borrowings in respect of which that Defaulting Lender has not fully funded
its appropriate share and (y) such Loans or L/C Borrowings were made at a time when the conditions set forth in Section 4.02
were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Borrowings owed to, all non-Defaulting
Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender
until such time as all Loans and funded and unfunded participations in L/C Obligations and Swing Line Loans are held by the Lenders
pro rata in accordance with the Commitments hereunder without giving effect to Section 2.17(a)(iv). Any payments, prepayments
or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or
to post Cash Collateral pursuant to this Section 2.17(a)(ii) shall be deemed paid to and redirected by that Defaulting Lender,
and each Lender irrevocably consents hereto. Nothing in this subsection (ii) shall serve as a waiver of rights of any Person
against a Defaulting Lender.


 


(iii)        Certain
Fees. That Defaulting Lender (x) shall not be entitled to receive any commitment fee pursuant to Section 2.09(a) for
any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise
would have been required to have been paid to that Defaulting Lender) and (y) shall be limited in its right to receive Letter of
Credit Fees as provided in Section 2.03(h).


 


(iv)        Reallocation
of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes
of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters
of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04, the “Applicable Percentage” of each
non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided, that,
(i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default
or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations
in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Commitment of that non-Defaulting
Lender minus (2) the aggregate Outstanding Amount of the Committed Loans of that Lender. If the reallocation described in
this clause (a)(iv) cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy
available to it hereunder or under applicable Law, (x) first, prepay Swing Line Loans in an amount equal to the Swing Line Lenders’
Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures
set forth in Section 2.16


 




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(b)          Defaulting
Lender Cure. If the Borrower, the Administrative Agent, Swing Line Lender and the L/C Issuer agree in writing in their
sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so
notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth
therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase
that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to
be necessary to cause the Committed Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be
held on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving effect to Section 2.17(a)(iv)),
whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with
respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided,
further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting
Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having
been a Defaulting Lender.


 


ARTICLE
III.         TAXES, YIELD PROTECTION AND ILLEGALITY


 


3.01       Taxes.


 


(a)          Payments
Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. (i) Any and all payments by or on account of any obligation
of the Borrower hereunder or under any other Loan Document shall to the extent permitted by applicable Laws be made free and clear
of and without reduction or withholding for any Taxes. If, however, applicable Laws (as determined in the good faith discretion
of the Administrative Agent or the Borrower, as the case may be) require the Borrower or the Administrative Agent to withhold or
deduct any Tax, such Tax shall be withheld or deducted in accordance with such Laws, upon the basis of the information and documentation
to be delivered pursuant to subsection (e) below.


 


(ii)         If
the Borrower or the Administrative Agent shall be required by the Code to withhold or deduct any Taxes, including both United States
Federal backup withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall withhold or make such
deductions as are determined by the Administrative Agent to be required based upon the information and documentation it has received
pursuant to subsection (e) below, (B) the Administrative Agent shall timely pay the full amount withheld or deducted to the relevant
Governmental Authority in accordance with the Code, and (C) to the extent that the withholding or deduction is made on account
of Indemnified Taxes or Other Taxes, the sum payable by the Borrower shall be increased as necessary so that after any required
withholding or the making of all required deductions (including deductions applicable to additional sums payable under this Section
3.01) the Administrative Agent, Lender or L/C Issuer, as the case may be, receives an amount equal to the sum it would have
received had no such withholding or deduction been made.


 




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(iii)        If
the Borrower or the Administrative Agent shall be required by any applicable Laws other than the Code to withhold or deduct any
Taxes from any payment, then (A) the Borrower or the Administrative Agent, as required by such Laws, shall withhold or make such
deductions as are determined by it to be required based upon the information and documentation it has received pursuant to subsection
(e) below, (B) the Borrower or the Administrative Agent, to the extent required by such Laws, shall timely pay the full amount
withheld or deducted to the relevant Governmental Authority in accordance with such Laws, and (C) to the extent that the withholding
or deduction is made on account of Indemnified Taxes, the sum payable by the Borrower shall be increased as necessary so that after
any required withholding or the making of all required deductions (including deductions applicable to additional sums payable under
this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding
or deduction been made.


 


(b)          Payment
of Other Taxes by the Borrower. Without limiting the provisions of subsection (a) above, the Borrower shall timely pay to the
relevant Governmental Authority in accordance with applicable Laws, or at the option of the Administrative Agent timely reimburse
it for the payment of, any Other Taxes .


 


(c)          Tax
Indemnifications. (i) Without limiting the provisions of subsection (a) or (b) above, the Borrower shall, and does hereby,
indemnify the Administrative Agent, each Lender and the L/C Issuer, and shall make payment in respect thereof within 10 days after
demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed
or asserted on or attributable to amounts payable under this Section) withheld or deducted by the Borrower or the Administrative
Agent or paid by the Administrative Agent, such Lender or the L/C Issuer, as the case may be, and any penalties, interest and reasonable
expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. The Borrower shall also, and does hereby, indemnify the Administrative
Agent, and shall make payment in respect thereof within 10 days after demand therefor, for any amount which a Lender or the L/C
Issuer for any reason fails to pay indefeasibly to the Administrative Agent as required by clause (ii) of this subsection.
A certificate setting forth in reasonable detail the nature and amount of any such payment or liability delivered to the Borrower
by a Lender or the L/C Issuer (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on
behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest error.


 




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(ii)         Without
limiting the provisions of subsection (a) or (b) above, each Lender and the L/C Issuer shall, and does hereby, indemnify the Borrower
and the Administrative Agent, and shall make payment in respect thereof within 10 days after demand therefor, against any and all
Taxes and any and all related losses, claims, liabilities, penalties, interest and expenses (including the fees, charges and disbursements
of any counsel for the Borrower or the Administrative Agent) incurred by or asserted against the Borrower or the Administrative
Agent by any Governmental Authority as a result of (A) the failure by such Lender or the L/C Issuer, as the case may be, to deliver,
or as a result of the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by such Lender or the
L/C Issuer, as the case may be, to the Borrower or the Administrative Agent pursuant to subsection (e) or (B) the failure by such
Lender or the L/C Issuer, as the case may be, to comply with the provisions of Section 10.6(d) relating to the maintenance
of a Participant Register. Each Lender and the L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and
all amounts at any time owing to such Lender or the L/C Issuer, as the case may be, under this Agreement or any other Loan Document
against any amount due to the Administrative Agent under this clause (ii). The agreements in this clause (ii) shall
survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender
or the L/C Issuer, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all other Obligations.


 


(d)          Evidence
of Payments. Upon request by the Borrower or the Administrative Agent, as the case may be, after any payment of Taxes by the
Borrower or by the Administrative Agent to a Governmental Authority as provided in this Section 3.01, the Borrower shall
deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrower, as the case may be, the original
or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by
Laws to report such payment or other evidence of such payment reasonably satisfactory to the Borrower or the Administrative Agent,
as the case may be.


 


(e)          Status
of Lenders; Tax Documentation. (i) Each Lender shall deliver to the Borrower and to the Administrative Agent, at the time or
times prescribed by applicable Laws or when reasonably requested by the Borrower or the Administrative Agent, such properly completed
and executed documentation prescribed by applicable Laws or by the taxing authorities of any jurisdiction and such other reasonably
requested information as will permit the Borrower or the Administrative Agent, as the case may be, to determine (A) whether or
not payments made hereunder or under any other Loan Document are subject to Taxes, (B) if applicable, the required rate of withholding
or deduction, and (C) such Lender’s entitlement to any available exemption from, or reduction of, applicable Taxes in respect
of all payments to be made to such Lender by the Borrower pursuant to this Agreement or otherwise to establish such Lender’s
status for withholding tax purposes in the applicable jurisdiction. Notwithstanding anything to the contrary in the preceding two
sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section
3.01(e)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment
such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially
prejudice the legal or commercial position of such Lender.


 


(ii)         Without
limiting the generality of the foregoing, if the Borrower is resident for tax purposes in the United States,


 




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(A)         any
Lender that is a “United States person” within the meaning of Section 7701(a)(30) of the Code shall deliver to the
Borrower and the Administrative Agent executed originals of Internal Revenue Service Form W-9 or such other documentation or information
prescribed by applicable Laws or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or
the Administrative Agent, as the case may be, to determine whether or not such Lender is subject to backup withholding or information
reporting requirements; and


 


(B)         each
Foreign Lender that is entitled under the Code or any applicable treaty to an exemption from or reduction of withholding tax with
respect to payments hereunder or under any other Loan Document shall deliver to the Borrower and the Administrative Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative Agent, but only if
such Foreign Lender is legally entitled to do so), whichever of the following is applicable:


 


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


 


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


 


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


 


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


 




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


 


(D)         if
a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b)
of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed
by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed
by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply
with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA
or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement. For purposes of determining withholding Taxes imposed
under FATCA, from and after the effective date of this Agreement, the Borrower and the Administrative Agent shall treat (and the
Lenders hereby authorize the Administrative Agent to treat) the Loans and this Agreement as not qualifying as a "grandfathered
obligation" within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).


 


(iii)        Each
Lender shall (A) promptly notify the Borrower and the Administrative Agent of any change in circumstances which would modify or
render invalid any claimed exemption or reduction, (B) promptly take such steps as shall not be materially disadvantageous to it,
in the reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation of its Lending Office)
to avoid any requirement of applicable Laws of any jurisdiction that the Borrower or the Administrative Agent make any withholding
or deduction for taxes from amounts payable to such Lender, and (C) if any form or certification it previously delivered pursuant
to this Section 3.01 expires or becomes obsolete or inaccurate in any respect, promptly update such form or certification
or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so.


 




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(f)          Treatment
of Certain Refunds. Unless required by applicable Laws, at no time shall the Administrative Agent have any obligation to file
for or otherwise pursue on behalf of a Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer,
any refund of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C Issuer, as the case may be.
If the Administrative Agent, any Lender or the L/C Issuer determines, in its sole discretion exercised in good faith, that it has
received a refund of any Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the
Borrower has paid additional amounts pursuant to this Section, it shall pay to the Borrower an amount equal to such refund (but
only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section with respect to the
Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses incurred by the Administrative Agent, such
Lender or the L/C Issuer, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund), provided that the Borrower, upon the request of the Administrative Agent, such Lender or the
L/C Issuer, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) to the Administrative Agent, such Lender or the L/C Issuer in the event the Administrative Agent,
such Lender or the L/C Issuer is required to repay such refund to such Governmental Authority. This subsection shall not be construed
to require the Administrative Agent, any Lender or the L/C Issuer to make available its tax returns (or any other information relating
to its taxes that it deems confidential) to the Borrower or any other Person.


 


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


 


3.02       Illegality.
If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful,
for any Lender or its applicable Lending Office to or make, maintain or fund Loans whose interest is determined by reference to
the Eurodollar Rate or to determine or charge interest rates based upon the Eurodollar Rate, or any Governmental Authority has
imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London
interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (i) any obligation of
such Lender to issue, make, maintain, fund or charge interest with respect to any such Credit Extension or continue Eurodollar
Rate Loans or to convert Base Rate Committed Loans to Eurodollar Rate Loans shall be suspended, and (ii) if such notice asserts
the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the
Eurodollar Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid
such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base Rate,
in each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination
no longer exist. Upon receipt of such notice, (x) the Borrower shall, upon demand from such Lender (with a copy to the Administrative
Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender to Base Rate Loans (the interest rate on which
Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without
reference to the Eurodollar Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender
may lawfully continue to maintain such Eurodollar Rate Loans to such day, or immediately, if such Lender may not lawfully continue
to maintain such Eurodollar Rate Loans and (y) if such notice asserts the illegality of such Lender determining or charging interest
rates based upon the Eurodollar Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate
applicable to such Lender without reference to the Eurodollar Rate component thereof until the Administrative Agent is advised
in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurodollar
Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.


 




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3.03       Inability
to Determine Rates. If in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof,
(a) the Administrative Agent determines that (i) Dollar deposits are not being offered to banks in the London interbank eurodollar
market for the applicable amount and Interest Period of such Eurodollar Rate Loan, or (ii) adequate and reasonable means do not
exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan or
in connection with an existing or proposed Base Rate Loan (in each case with respect to clause (a) (i) above, “Impacted
Loans”), or (b) the Administrative Agent or the Required Lenders determine that for any reason the Eurodollar Rate for
any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to
such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (x)
the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended, (to the extent of the affected Eurodollar
Rate Loans or Interest Periods), and (y) in the event of a determination described in the preceding sentence with respect to the
Eurodollar Rate component of the Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate shall
be suspended, in each case until the Administrative Agent upon the instruction of the Required Lenders revokes such notice. Upon
receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar
Rate Loans (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing that, will be deemed to have converted
such request into a request for a Committed Borrowing of Base Rate Loans in the amount specified therein.


 


Notwithstanding the foregoing,
if the Administrative Agent has made the determination described in clause (a)(i) of this section, the Administrative Agent,
in consultation with the Borrower and the affected Lenders, may establish an alternative interest rate for the Impacted Loans,
in which case, such alternative rate of interest shall apply with respect to the Impacted Loans until (1) the Administrative Agent
revokes the notice delivered with respect to the Impacted Loans under clause (a) of the first sentence of this section,
(2) the Administrative Agent or the Required Lenders notify the Administrative Agent and the Borrower that such alternative interest
rate does not adequately and fairly reflect the cost to such Lenders of funding the Impacted Loans, or (3) any Lender determines
that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its
applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to such alternative rate of
interest or to determine or charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions
on the authority of such Lender to do any of the foregoing and provides the Administrative Agent and the Borrower written notice
thereof.


 




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


 


(i)          adequate
and reasonable means do not exist for ascertaining LIBOR for any requested Interest Period, including, without limitation, because
the LIBOR Screen Rate is not available or published on a current basis and such circumstances are unlikely to be temporary; or


 


(ii)         
the administrator of the LIBOR Screen Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made
a public statement identifying a specific date after which LIBOR or the LIBOR Screen Rate shall no longer be made available, or
used for determining the interest rate of loans (such specific date, the “Scheduled Unavailability Date”), or


 


(iii)        syndicated
loans currently being executed, or that include language similar to that contained in this Section, are being executed or amended
(as applicable) to incorporate or adopt a new benchmark interest rate to replace LIBOR,


 


then, reasonably promptly
after such determination by the Administrative Agent or receipt by the Administrative Agent of such notice, as applicable, the
Administrative Agent and the Borrower may amend this Agreement to replace LIBOR with an alternate benchmark rate (including any
mathematical or other adjustments to the benchmark (if any) incorporated therein), giving due consideration to any evolving or
then existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative benchmarks (any
such proposed rate, a “LIBOR Successor Rate”), together with any proposed LIBOR Successor Rate Conforming Changes
(as defined below) and any such amendment shall become effective at 5:00 p.m. (New York time) on the fifth Business Day after the
Administrative Agent shall have posted such proposed amendment to all Lenders and the Borrower unless, prior to such time, Lenders
comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders do not accept
such amendment.


 


If no LIBOR Successor
Rate has been determined and the circumstances under clause (i) above exist or the Scheduled Unavailability Date has occurred (as
applicable), the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (x) the obligation of the
Lenders to make or maintain Eurodollar Rate Loans shall be suspended, (to the extent of the affected Eurodollar Rate Loans or Interest
Periods), and (y) the Eurodollar Rate component shall no longer be utilized in determining the Base Rate. Upon receipt of such
notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans
(to the extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such
request into a request for a Committed Borrowing of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified
therein.


 




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Notwithstanding anything
else herein, any definition of LIBOR Successor Rate shall provide that in no event shall such LIBOR Successor Rate be less than
zero for purposes of this Agreement.


 


As used above:


 


“LIBOR Screen
Rate” means the LIBOR quote on the applicable screen page the Administrative Agent designates to determine LIBOR (or
such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to
time).


 


“LIBOR Successor
Rate Conforming Changes” means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition
of Base Rate, Interest Period, timing and frequency of determining rates and making payments of interest and other administrative
matters as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption of such LIBOR Successor Rate
and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice
(or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible
or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as
the Administrative Agent determines in consultation with the Borrower).


 


3.04       Increased
Costs; Reserves on Eurodollar Rate Loans.


 


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


 


(i)          impose,
modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets
of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated
by Section 3.04(e)) or the L/C Issuer;


 


(ii)         subject
any Lender or the L/C Issuer to any tax of any kind whatsoever with respect to this Agreement, any Letter of Credit, any participation
in a Letter of Credit or any Eurodollar Rate Loan made by it, or change the basis of taxation of payments to such Lender or the
L/C Issuer in respect thereof (except for (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition
of Excluded Taxes and (C) Connection Income Taxes); or


 


(iii)        impose
on any Lender or the L/C Issuer or the London interbank market any other condition, cost or expense (other than Taxes) affecting
this Agreement or Eurodollar Rate Loans made by such Lender or any Letter of Credit or participation therein;


 


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


 




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


 


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


 


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


 


(e)          Reserves
on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves
with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs
of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be
conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower
shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest
from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest
shall be due and payable 10 days from receipt of such notice.


 




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


 


(a)          any
continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the
Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise);


 


(b)          any
failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert
any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or


 


(c)          any
assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request
by the Borrower pursuant to Section 10.13;


 


including any loss of
anticipated profits and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such
Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary
administrative fees charged by such Lender in connection with the foregoing.


 


For purposes of calculating
amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each
Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank
eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so
funded.


 


3.06       Mitigation
Obligations; Replacement of Lenders.


 


(a)          Designation
of a Different Lending Office. Each Lender may make any Credit Extension to the Borrower through any Lending Office, provided
that the exercise of this option shall not affect the obligation of the Borrower to repay the Credit Extension in accordance with
the terms of this Agreement. If any Lender requests compensation under Section 3.04, or the Borrower is required to pay
any additional amount to any Lender, the L/C Issuer, or any Governmental Authority for the account of any Lender or the L/C Issuer
pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then such Lender or the L/C Issuer
shall, as applicable, use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder
or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment
of such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section
3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02,
as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer, as the case may be, to any unreimbursed
cost or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer, as the case may be. The Borrower hereby
agrees to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer in connection with any such designation
or assignment.


 




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(b)         Replacement
of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrower is required to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 in each case,
such Lender has declined or is unable to designate a different Lending Office in accordance with Section 3.06(a), the Borrower
may replace such Lender in accordance with Section 10.13.


 


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


 


ARTICLE
IV.          CONDITIONS PRECEDENT TO Credit Extensions


 


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


 


(a)          The
Administrative Agent’s receipt of the following, each of which shall be originals or telecopies (followed promptly by originals)
unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each dated the Closing Date
(or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance
satisfactory to the Administrative Agent and each of the Lenders:


 


(i)          executed
counterparts of this Agreement and the Subsidiary Guaranty Agreement, sufficient in number for distribution to the Administrative
Agent, each Lender and the Borrower;


 


(ii)         a
Note executed by the Borrower in favor of each Lender requesting a Note;


 


(iii)        such
certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each
Loan Party as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer
thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which such
Loan Party is a party;


 


(iv)        such
documents and certifications as the Administrative Agent may reasonably require to evidence that each Loan Party is duly organized
or formed, and that each Loan Party is validly existing, in good standing and qualified to engage in business in each jurisdiction
where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the
extent that failure to do so would not reasonably be expected to have a Material Adverse Effect, which such jurisdictions are specified
on Schedule 4.01(a)(iv);


 


(v)         a
favorable opinion of Arnall Golden Gregory LLP, counsel to the Loan Parties, addressed to the Administrative Agent and each Lender,
as to the matters set forth in Exhibit G and such other matters concerning the Loan Parties and the Loan Documents as the
Required Lenders may reasonably request;


 




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(vi)        a
certificate of a Responsible Officer of each Loan Party either (A) attaching copies of all consents, licenses and approvals required
in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan
Documents to which it is a party, and such consents, licenses and approvals shall be in full force and effect, or (B) stating that
no such consents, licenses or approvals are so required;


 


(vii)       a
certificate signed by a Responsible Officer of the Borrower certifying (A) that the conditions specified in Sections 4.02(a)
and (b) have been satisfied, (B) that there has been no event or circumstance since the date of the Audited Financial
Statements that has had or would be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect,
and (C) as to the absence of any action, suit, investigation or proceeding pending, or to the knowledge of the Borrower, threatened
in any court or before any arbitrator or governmental authority that would reasonably be expected to have a Material Adverse Effect;


 


(viii)      evidence
that the Existing Credit Agreement has been or concurrently with the Closing Date is being terminated and all Liens, if any, securing
obligations under the Existing Credit Agreement have been or concurrently with the Closing Date are being released; and


 


(ix)         such
other assurances, certificates, documents or consents as the Administrative Agent, the L/C Issuer, the Swing Line Lender or the
Required Lenders reasonably may require.


 


(b)          Any
fees required to be paid on or before the Closing Date shall have been paid.


 


(c)          Unless
waived by the Administrative Agent, the Borrower shall have paid all reasonable and documented fees, charges and disbursements
of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent invoiced
prior to or on the Closing Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable
estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided
that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative Agent).


 


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


 




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4.02       Conditions
to all Credit Extensions. The obligation of each Lender and the L/C Issuer to honor any Request for Credit Extension (other
than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type, or a continuation of Eurodollar
Rate Loans) is subject to the following conditions precedent:


 


(a)          The
representations and warranties of the Borrower and each other Loan Party contained in Article V or any other Loan Document,
or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct
on and as of the date of such Credit Extension, except to the extent that such representations and warranties specifically refer
to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this
Section 4.02, the representations and warranties contained in Section 5.04 shall be deemed to refer to the most recent
statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01.


 


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


 


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


 


(d)          The
Total Outstandings after giving effect to such Request for Credit Extension shall not exceed the Advance Limit on such date.


 


Each Request for Credit
Extension (other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type or a continuation
of Eurodollar Rate Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified
in Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension.


 


ARTICLE
V.         REPRESENTATIONS AND WARRANTIES


 


The Borrower represents
and warrants to the Administrative Agent and the Lenders that:


 


5.01       Existence;
Power. The Borrower and each of its Subsidiaries (i) is duly organized, validly existing and in good standing as a corporation,
partnership or limited liability company under the laws of the jurisdiction of its organization, except, with respect to any Domestic
Subsidiaries that are not Material Domestic Subsidiaries, where failure would not reasonably be expected to result in a Material
Adverse Effect, (ii) has all requisite power and authority to carry on its business as now conducted, except, with respect to any
Domestic Subsidiaries that are not Material Domestic Subsidiaries, where failure would not reasonably be expected to result in
a Material Adverse Effect, and (iii) is duly qualified to do business, and is in good standing, in each jurisdiction where such
qualification is required, except where a failure to be so qualified could not reasonably be expected to result in a Material Adverse
Effect.


 




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5.02      Organizational
Power; Authorization. The execution, delivery and performance by each Loan Party of the Loan Documents to which it is a party
are within such Loan Party’s organizational powers and have been duly authorized by all necessary organizational, and if
required, shareholder, partner or member, action. This Agreement has been duly executed and delivered by the Borrower, and constitutes,
and each other Loan Document to which any Loan Party is a party, when executed and delivered by such Loan Party, will constitute,
valid and binding obligations of the Borrower or such Loan Party (as the case may be), enforceable against it in accordance with
their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws
affecting the enforcement of creditors’ rights generally and by general principles of equity.


 


5.03      Governmental
Approvals; No Conflicts. The execution, delivery and performance by the Borrower of this Agreement, and by each Loan Party
of the other Loan Documents to which it is a party (a) do not require any consent or approval of, registration or filing with,
or any action by, any Governmental Authority or any other Person, except (i) those as have been obtained or made and are in full
force and effect and (ii) reports that the Borrower is required to file with the SEC, (b) will not violate any Organization Document
or requirements of Law applicable to the Borrower or any of its Subsidiaries or any judgment, order or ruling of any Governmental
Authority applicable to the Borrower or any Subsidiary (or, with respect to any performance of non-material obligations under the
Loan Documents, material requirements of Law or material judgments, orders or rulings of any Governmental Authority, as applicable),
(c) will not violate or result in a default under any material indenture, material agreement or other material instrument binding
on the Borrower or any of its Subsidiaries or any of its assets or give rise to a right thereunder to require any payment to be
made by the Borrower or any of its Subsidiaries and (d) will not result in the creation or imposition of any Lien on any asset
of the Borrower or any of its Subsidiaries, except Liens (if any) created under the Loan Documents.


 


5.04      Financial
Statements. The Borrower has furnished to each Lender (i) the Audited Financial Statements and (ii) the unaudited consolidated
balance sheet of the Borrower and its Subsidiaries as of September 30, 2013, and the related unaudited consolidated statements
of income and cash flows for the Fiscal Quarter and year-to-date period then ending, certified by a Responsible Officer. Such financial
statements fairly present in all material respects the consolidated financial condition of the Borrower and its Subsidiaries as
of the dates of such financial statements and the consolidated results of operations for the periods reflected in such financial
statements in conformity with GAAP consistently applied, subject to year end audit adjustments and the absence of footnotes in
the case of the statements referred to in clause (ii). As of the Amendment No. 2 Effectiveness Date, Schedule 5.04
sets forth all material indebtedness and other liabilities, direct or contingent, of the Borrower and its consolidated Subsidiaries
not otherwise included in the financial statements referenced in clause (ii) above, including liabilities for taxes, material
commitments and Indebtedness. Since December 31, 2012, there have been no changes with respect to the Borrower and its Subsidiaries
which have had or would reasonably be expected to have, singly or in the aggregate, a Material Adverse Effect.


 


5.05      Litigation
and Environmental Matters. 


 


(a)          No
litigation, investigation or proceeding of or before any arbitrators or Governmental Authorities is pending against or, to the
knowledge of the Borrower, threatened in writing against or affecting the Borrower or any of its Subsidiaries (i) as to which there
is a reasonable possibility of an adverse determination that would reasonably be expected to have, either individually or in the
aggregate, a Material Adverse Effect or (ii) which in any manner draws into question the validity or enforceability of this Agreement
or any other Loan Document.


 




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(b)          Except
for the matters set forth on Schedule 5.05, neither the Borrower nor any of its Subsidiaries (i) has failed to comply with
any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental
Law, (ii) has become subject to any Environmental Liability, (iii) has received written notice of any claim with respect to any
Environmental Liability or (iv) has actual knowledge of any basis for any Environmental Liability, in each case, where such non-compliance
or such Environmental Liability, either singly or in the aggregate, would not reasonably be expected to result in a Material Adverse
Effect.


 


5.06      Compliance
with Laws and Agreements. The Borrower and each Subsidiary is in compliance with (a) all requirements of all Laws and all judgments,
decrees and orders of any Governmental Authority and (b) all indentures, agreements or other instruments binding upon it or its
properties, except, in each case, where non-compliance, either singly or in the aggregate, would not reasonably be expected to
result in a Material Adverse Effect.


 


5.07      Investment
Company Act, Etc. Neither the Borrower (or any Person Controlling the Borrower), nor any of its Subsidiaries is (a) an “investment
company” or is “controlled” by an “investment company”, as such terms are defined in, or subject
to regulation under, the Investment Company Act of 1940, as amended, or (b) otherwise subject to any other regulatory scheme limiting
its ability to incur debt or requiring any approval or consent from or registration or filing with, any Governmental Authority
in connection therewith.


 


5.08       Taxes.
The Borrower and its Subsidiaries and each other Person for whose taxes the Borrower or any Subsidiary could become liable have
timely filed or caused to be filed all Federal income tax returns and all other material tax returns that are required to be filed
by them, and have paid all taxes shown to be due and payable on such returns or on any assessments made against it or its property
and all other material taxes, fees or other charges imposed on it or any of its property by any Governmental Authority, except
where the same are currently being contested in good faith by appropriate proceedings and for which the Borrower or such Subsidiary,
as the case may be, has set aside on its books adequate reserves in accordance with GAAP. The charges, accruals and reserves on
the books of the Borrower and its Subsidiaries in respect of such taxes are adequate, and no tax liabilities that could be materially
in excess of the amount so provided are anticipated.


 


5.09      Margin
Regulations. None of the proceeds of any of the Loans or Letters of Credit will be used, directly or indirectly, for “purchasing”
or “carrying” any “margin stock” with the respective meanings of each of such terms under Regulation U
of the FRB as now and from time to time hereafter in effect or for any purpose that violates the provisions of the Regulation U.
Neither the Borrower nor its Subsidiaries is engaged principally, or as one of its important activities, in the business of extending
credit for the purpose of purchasing or carrying “margin stock.”


 




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5.10      ERISA
Compliance.


 


(a)          Except
as would not reasonably be expected to result in a Material Adverse Effect, (i) each Plan is in compliance in all respects with
the applicable provisions of ERISA, the Code and other applicable Federal or state laws, and (ii) each Pension Plan that is intended
to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue
Service to the effect that the form of such Pension Plan is qualified under Section 401(a) of the Code, or an application for such
a letter is currently being processed by the Internal Revenue Service, and to the best knowledge of the Borrower, nothing has occurred
that would prevent or cause the loss of such tax-qualified status.


 


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


 


(c)          Except
as would not reasonably be expected to result in a Material Adverse Effect, (i) no ERISA Event has occurred, and neither the Borrower
nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result in
an ERISA Event with respect to any Pension Plan; (ii) the Borrower and each ERISA Affiliate has met all applicable requirements
under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension
Funding Rules has been applied for or obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target
attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and neither the Borrower nor any ERISA Affiliate
knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any
such plan to drop below 60% as of the most recent valuation date; (iv) neither the Borrower nor any ERISA Affiliate has incurred
any liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due that
are unpaid; (v) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069
or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and
no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under
Title IV of ERISA to terminate any Pension Plan.


 


5.11      Ownership
of Property.


 


(a)          Each
of the Borrower and its Subsidiaries has good title to, or valid leasehold interests in, all of its real and personal property
material to the operation of its business, including all such properties reflected in the most recent audited consolidated balance
sheet of the Borrower referred to in Section 5.05 or purported to have been acquired by the Borrower or any Subsidiary after
said date (except as sold or otherwise disposed of in the ordinary course of business or otherwise in accordance with the Loan
Documents), except where the failure to have such title or other interest would not reasonably be expected to have a Material Adverse
Effect, and in each case free and clear of Liens prohibited by this Agreement. All leases that individually or in the aggregate
are material to the business or operations of the Borrower and its Subsidiaries are valid and subsisting and are in full force.


 




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(b)          Each
of the Borrower and its Subsidiaries owns, or is licensed, or otherwise has the right, to use, all patents, trademarks, service
marks, trade names, copyrights and other intellectual property applicable to its business, and the use thereof by the Borrower
and its Subsidiaries does not infringe in any material respect on the rights of any other Person, except for those the failure
to own or have such legal right would not reasonably be expected to have a Material Adverse Effect.


 


(c)          The
properties of the Borrower and its Subsidiaries are insured with financially sound and reputable insurance companies which are
not Affiliates of the Borrower, in such amounts with such deductibles and covering such risks as are customarily carried by companies
engaged in similar businesses and owning similar properties in localities where the Borrower or any applicable Subsidiary operates.


 


5.12      Disclosure.
The Borrower has disclosed to the Administrative Agent and the Lenders all agreements, instruments, and corporate or other restrictions
to which the Borrower or any of its Subsidiaries is subject, and all other matters known to any of them, that, individually or
in the aggregate, would reasonably be expected to result in a Material Adverse Effect. Neither the Information Memorandum nor any
of the reports (including without limitation all reports that the Borrower is required to file with the SEC), financial statements,
certificates or other information furnished (whether orally or in writing) by or on behalf of any Loan Party to the Administrative
Agent or any Lender in connection with the negotiation or syndication of this Agreement or any other Loan Document or delivered
hereunder or thereunder (as modified or supplemented by any other information so furnished) contains any material misstatement
of fact or omits to state any material fact necessary to make the statements therein, taken as a whole, in light of the circumstances
under which they were made, not misleading. All projections delivered prior to, at, or after the Closing Date have been or will
be prepared in good faith based upon reasonable assumptions believed by the Borrower to be reasonable at the time furnished and,
as of the Closing Date, reflect Borrower’s good faith estimates of the future financial performance of Borrower and of the
other information projected therein for the period set forth therein. The projections are not to be viewed as facts and are subject
to significant uncertainties and contingencies many of which are beyond the Borrower’s control. No assurance is given that
any particular financial projections will be realized. Actual results may differ from projected results and such differences may
be material. As of the Amendment No. 4 Effectiveness Date, the information included in any Beneficial Ownership Certification delivered
on such date is true and correct in all respects.


 


5.13      Labor
Relations. There are no strikes, lockouts or other material labor disputes or grievances against the Borrower or any of its
Subsidiaries, or, to the Borrower’s knowledge, threatened against or affecting the Borrower or any of its Subsidiaries, and
no significant unfair labor practice, charges or grievances are pending against the Borrower or any of its Subsidiaries, or to
the Borrower’s knowledge, threatened against any of them before any Governmental Authority. All payments due from the Borrower
or any of its Subsidiaries pursuant to the provisions of any collective bargaining agreement have been paid or accrued as a liability
on the books of the Borrower or any such Subsidiary, except where the failure to do so could not reasonably be expected to have
a Material Adverse Effect.


 




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5.14      Subsidiaries.
Schedule 5.14 sets forth as of the Closing Date the name of, the ownership interest of the Borrower in, the jurisdiction
of incorporation or organization of, and the type of, each Subsidiary, and all of the outstanding Capital Stock in such Subsidiaries
have been validly issued, are fully paid and nonassessable. As of the Closing Date, the Material Domestic Subsidiaries and the
Subsidiary Loan Parties are Thru Tubing Solutions, Inc., a Delaware corporation, Patterson Services, Inc., a Delaware corporation,
Cudd Pressure Control, Inc., a Delaware corporation, Cudd Pumping Services, Inc., a Delaware corporation, and Bronco Oilfield Services,
Inc., a Delaware corporation.


 


5.15      Insolvency.
After giving effect to the execution and delivery of the Loan Documents and the making of the Loans under this Agreement, neither
the Borrower nor its Subsidiaries will be “insolvent,” within the meaning of such term as defined in § 101 of
Title 11 of the United States Code, as amended from time to time, or be unable to pay its debts generally as such debts become
due, or have an unreasonably small capital to engage in any business or transaction, whether current or contemplated.


 


5.16      OFAC
and Sanctions Concerns. No Loan Party (i) is a person whose property or interest in property is blocked or subject to blocking
pursuant to Section 1 of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With Persons
Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)), (ii) engages in any dealings or transactions
prohibited by Section 2 of such executive order, or is otherwise associated with any such person in any manner violative of Section
2, or (iii) is a person on the list of Specially Designated Nationals and Blocked Persons or subject to the limitations or prohibitions
under any other U.S. Department of Treasury’s Office of Foreign Assets Control regulation or executive order. No Loan Party,
nor any Subsidiary, nor, to the knowledge of any Responsible Officer of the Loan Parties and their Subsidiaries, any director,
officer, employee, agent, affiliate or representative thereof, is an individual or entity currently the subject of any Sanctions,
nor is any Loan Party or any Subsidiary located, organized or resident in a Designated Jurisdiction.


 


5.17      PATRIOT
Act. Each Loan Party is in compliance, in all material respects, with (i) the Trading with the Enemy Act, as amended, and each
of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended)
and any other enabling legislation or executive order relating thereto, and (ii) the PATRIOT Act. No part of the proceeds of the
Loans will be used, directly or indirectly, for any payments to any governmental official or employee, political party, official
of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain
or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as
amended.


 


5.18       EEA
Financial Institutions. No Loan Party is an EEA Financial Institution.


 


5.19      Security
Instruments. The provisions of the Security Instruments are effective to create in favor of the Administrative Agent for the
benefit of the Secured Parties a legal, valid and enforceable Lien on all right, title and interest of the respective Loan Parties
in the Collateral described therein, and when (A) financing statements in appropriate form as filed with the appropriate filing
offices, (B) “control” (as defined in the UCC) is established over items of Collateral and (C) any portion of such
Collateral represented by negotiable instruments is delivered to the Administrative Agent, in each case to the extent required
by the Security Instruments, such Lien will be first priority (subject only to Permitted Encumbrances).


 




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5.20       Borrower ERISA Status. On and as of the Amendment No. 4 Effectiveness Date, the Borrower is not and will not be (a) an employee
benefit plan subject to Title I of ERISA, (b) a plan or account subject to Section 4975 of the Code; (c) an entity deemed to hold
“plan assets” of any such plans or accounts for purposes of ERISA or the Code; or (d) a “governmental plan”
within the meaning of ERISA.


 


ARTICLE
VI.          AFFIRMATIVE COVENANTS


 


So long as any Lender
shall have any Commitment hereunder, any Loan or other Obligation (except to the extent such Obligations consist solely of contingent
indemnity obligations not yet due and payable or Obligations with respect to any Related Cash Management Agreement) hereunder shall
remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall, and shall (except in the case
of the covenants set forth in Sections 6.01 and 6.02) cause each Subsidiary to:


 


6.01      Financial
Statements and Other Information. Deliver to the Administrative Agent for further distribution to the Lenders, in form and
detail satisfactory to the Administrative Agent and the Required Lenders:


 


(a)          as
soon as available and in any event within 90 days after the end of each Fiscal Year of Borrower, (i) a copy of the annual audited
report for such Fiscal Year for the Borrower and its Subsidiaries, containing a consolidated balance sheet of the Borrower and
its Subsidiaries as of the end of such Fiscal Year and the related consolidated statements of income, stockholders’ equity
and cash flows (together with all footnotes thereto) of the Borrower and its Subsidiaries for such Fiscal Year, setting forth in
each case in comparative form the figures for the previous Fiscal Year, all in reasonable detail and reported on by Grant Thornton
LLP or other independent public accountants of regionally recognized standing acceptable to the Administrative Agent, such acceptance
not to be unreasonably withheld (without a “going concern” or like qualification, exception or explanation and without
any qualification or exception as to scope of such audit) to the effect that such financial statements present fairly in all material
respects the financial condition and the results of operations of the Borrower and its Subsidiaries for such Fiscal Year on a consolidated
and consolidating basis in accordance with GAAP and that the examination by such accountants in connection with such consolidated
financial statements has been made in accordance with generally accepted auditing standards; and (ii) an annual budget for the
following Fiscal Year;


 


(b)          as
soon as available and in any event within 45 days after the end of each Fiscal Quarter of the Borrower (other than the fourth Fiscal
Quarter of each Fiscal Year), an unaudited consolidated and consolidating balance sheet of the Borrower and its Subsidiaries as
of the end of such Fiscal Quarter and the related unaudited consolidated and consolidating statements of income and cash flows
of the Borrower and its Subsidiaries for such Fiscal Quarter and the then elapsed portion of such Fiscal Year, setting forth in
each case in comparative form the figures for the corresponding quarter and the corresponding portion of Borrower’s previous
Fiscal Year;


 




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(c)          concurrently
with the delivery of the financial statements referred to in clauses (a) and (b) above, a Compliance Certificate
signed by the chief financial officer of the Borrower;


 


(d)          promptly
after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed
with the SEC, or with any national securities exchange, or distributed by the Borrower to its shareholders generally, as the case
may be;


 


(e)          as
soon as available, but in any event within 30 days after the end of each month during any Consolidated EBITDA < $50 Million
Test Period, a Borrowing Base Certificate, as at the end of such month, duly certified by the chief executive officer, chief financial
officer, treasurer or controller of the Borrower; provided that (x) with respect to the first Borrowing Base Certificate required
to be delivered after determination of a Consolidated EBITDA < $50 Million Test Period, such Borrowing Base Certificate shall
be delivered on or before the last day of the respective month in which such financial statements were delivered (or, if earlier,
beginning the last day of the month when such financial statements were required to be so delivered) (e.g. if financial statements
with respect to a Fiscal Quarter of the Borrower ending March 31st are delivered on May 15th and such financial statements indicate
that the Consolidated EBITDA < $50 Million Test Period is in effect, a Borrowing Base Certificate will be required to be delivered
on or prior to May 31st and prepared as of April 30th) and (y) no Borrowing Base Certificate shall be required to the extent that
a Consolidated EBITDA < $50 Million Non-Test Period is in effect on the date on which such certificate would otherwise be due;


 


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


 


(g)          promptly
following any request therefor, such other information regarding the results of operations, business affairs and financial condition
of the Borrower or any Subsidiary as the Administrative Agent or any Lender may reasonably request.


 


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


 


Documents required
to be delivered pursuant to Section 6.01(a) or (b) or Section 6.01(e) (to the extent any such documents are
included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have
been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website
on the Internet at the website address listed on Schedule 10.02; or (ii) on which such documents are posted on the Borrower’s
behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial,
third-party website or whether sponsored by the Administrative Agent); provided that: (i) the Borrower shall deliver paper
copies of such documents to the Administrative Agent or any Lender upon its written request to the Borrower to deliver such paper
copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender and (ii) the
Borrower shall notify the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents.
The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred
to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request by a Lender
for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.


 




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The Borrower hereby
acknowledges that (a) the Administrative Agent and/or the Arrangers may, but shall not be obligated to make available to the Lenders
and the L/C Issuer materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower
Materials”) by posting the Borrower Materials on IntraLinks, Syndtrak, ClearPar, or a substantially similar electronic
system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have
personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates, or the respective
securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such
Persons’ securities. The Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders
shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC”
shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall
be deemed to have authorized the Administrative Agent, the Arrangers, the L/C Issuer and the Lenders to treat such Borrower Materials
as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States
Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information,
they shall be treated as set forth in Section 10.07); (y) all Borrower Materials marked “PUBLIC” are permitted
to be made available through a portion of the Platform designated “Public Side Information;” and (z) the Administrative
Agent and the Arrangers shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable
only for posting on a portion of the Platform not designated “Public Side Information.” Notwithstanding the foregoing,
the Borrowers shall be under no obligation to mark any Borrower Materials “PUBLIC.”


 


6.02      Notices
of Material Events. Promptly upon (and in no event later than three (3) Business Days after) any Responsible Officer of the
Borrower obtaining knowledge, furnish to the Administrative Agent and each Lender written notice of the following:


 


(a)          the
occurrence of any Default or Event of Default;


 


(b)          the
filing or commencement of, or material developments in, any action, suit or proceeding by or before any arbitrator or Governmental
Authority against or, to the knowledge of the Borrower, affecting the Borrower or any Subsidiary which, if adversely determined,
would reasonably be expected to result in a Material Adverse Effect;


 




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(c)          the
occurrence of any event or any other development by which the Borrower or any of its Subsidiaries (i) fails to comply with any
Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental
Law, (ii) becomes subject to any Environmental Liability, (iii) receives notice of any claim with respect to any Environmental
Liability, or (iv) becomes aware of any basis for any Environmental Liability and in each of the preceding clauses, which individually
or in the aggregate, would reasonably be expected to result in a Material Adverse Effect;


 


(d)          the
occurrence and continuance of any ERISA Event that alone, or together with any other ERISA Events that have occurred, and are continuing,
would reasonably be expected to result in a Material Adverse Effect;


 


(e)          (i)
the occurrence of any event of default beyond any applicable cure period, or (ii) to the extent notice has not been delivered under
clause (i), the receipt by Borrower or any of its Subsidiaries of any written notice of an alleged event of default beyond
any applicable cure period, with respect to any Material Indebtedness of the Borrower or any of its Subsidiaries; and


 


(f)          any
change in the information provided in the Beneficial Ownership Certification that would result in a change to the list of beneficial
owners identified in parts (c) or (d) of such certification.


 


Each notice delivered
under this Section 6.02 shall be accompanied by a written statement of a Responsible Officer setting forth the details of
the event or development requiring such notice and any action taken or proposed to be taken with respect thereto.


 


6.03      Existence;
Conduct of Business. Do or cause to be done all things necessary to preserve, renew and maintain in full force and effect its
legal existence and its respective rights, licenses, permits, privileges, franchises, patents, copyrights, trademarks and trade
names applicable to the conduct of its business and will continue to engage in the same business as presently conducted or such
other businesses that are reasonably related thereto, except as would not reasonably be expected to result in a Material Adverse
Effect; provided, that nothing in this Section 6.03 shall prohibit any merger, consolidation, liquidation or dissolution
permitted under Section 7.03.


 


6.04      Compliance
with Laws, Etc. Comply with all Laws applicable to its business and properties, including without limitation, all Environmental
Laws, ERISA and OSHA, except where the failure to do so, either individually or in the aggregate, would not reasonably be expected
to result in a Material Adverse Effect and shall conduct its businesses in compliance with the United States Foreign Corrupt Practices
Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other jurisdictions, and maintain policies
and procedures designed to promote and achieve compliance with such laws.


 


6.05      Payment
of Obligations. Pay and discharge at or before maturity, all of its Material Indebtedness or other obligations or liabilities
in excess of $25,000,000 and all taxes, assessments and other governmental charges, levies and all other claims that could result
in a statutory Lien before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being
contested in good faith by appropriate proceedings, (b) the Borrower or such Subsidiary has set aside on its books adequate reserves
with respect thereto in accordance with GAAP or (c) the failure to make payment pending such contest would not reasonably be expected
to result in a Material Adverse Effect.


 




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6.06      Books
and Records. Keep proper books of record and account in which full, true and correct entries shall be made of all dealings
and transactions in relation to its business and activities to the extent necessary to prepare the consolidated financial statements
of Borrower in conformity with GAAP.


 


6.07      Visitation,
Inspection, Etc. Permit any representative of the Administrative Agent or any Lender, to visit and inspect its properties,
to examine its books and records and to make copies and take extracts therefrom, and to discuss its affairs, finances and accounts
with any of its officers and with its independent certified public accountants (with the Borrower being given a reasonable opportunity
to be present in any such discussion), all at such reasonable times and as often as the Administrative Agent or any Lender may
reasonably request after reasonable prior written notice to the Borrower; provided, however, (i) so long as no Event of
Default has occurred and is continuing, (x) such visits and inspections shall only be conducted up to two (2) times in any calendar
year and (y) the Borrower shall not be required to pay the expenses associated with such visits and inspections of any Lender other
than the Lender serving as Administrative Agent and (ii) if an Event of Default has occurred and is continuing any of the foregoing
shall be at the reasonable expense of the Borrower during normal business hours. In addition to the foregoing, no sooner than thirty
(30) days of the Amendment No. 3 Effectiveness Date and no later than sixty (60) days of the Amendment No. 3 Effectiveness Date,
the Administrative Agent shall be permitted to conduct an inspection of the books and records of the Borrower at its applicable
office for the purpose of confirming the Accounts of the Loan Parties, after reasonable prior written notice to the Borrower and
conducted according to procedures agreed to by the Borrower and the Administrative Agent (such agreement not to be unreasonably
withheld, conditioned or delayed by either party) (the “2016 Field Exam”), which such inspection shall be at
the reasonable expense of the Borrower.


 


6.08      Maintenance
of Properties; Insurance. (a) Except with respect to property no longer used or no longer useful in the business of Borrower
or its Subsidiaries, keep and maintain all property material to the conduct of its business in good working order and condition,
ordinary wear and tear excepted, and (b) maintain with financially sound and reputable insurance companies, insurance with respect
to its properties and business, and the properties and business of its Subsidiaries, against loss or damage of the kinds customarily
insured against by companies in the same or similar businesses operating in the same or similar locations, and comply with all
insurance requirements in any Security Instrument.


 


6.09      Use
of Proceeds and Letters of Credit. Use the proceeds of all Loans to refinance existing Indebtedness and pay related closing
costs on the Closing Date, and thereafter to finance working capital needs and Capital Expenditures and for other general corporate
purposes of the Borrower and its Subsidiaries, specifically including, but not limited to, the financing of the acquisitions permitted
pursuant to Section 7.14 and the financing of the acquisition of inventory to be sold or leased by Borrower and its Subsidiaries
in the ordinary course of their business. No part of the proceeds of any Loan will be used, whether directly or indirectly, for
any purpose that would violate any rule or regulation of the FRB, including Regulations T, U or X or otherwise be in contravention
of any Law. All Letters of Credit will be used for general corporate purposes and not contravention of any Law.


 




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6.10      Additional
Subsidiaries.


 


(a)          If
any Subsidiary becomes a Material Domestic Subsidiary after the Closing Date, or any Material Domestic Subsidiary is acquired or
formed after the Closing Date, promptly notify the Administrative Agent and the Lenders thereof and, within thirty (30) days after
any such Subsidiary becomes a Material Domestic Subsidiary, or such Material Domestic Subsidiary is acquired or formed, will cause
such Material Domestic Subsidiary to become a Subsidiary Loan Party.


 


(b)          The
Borrower may elect at any time to have any Domestic Subsidiary become an additional Subsidiary Loan Party as provided in clause
(c) below.


 


(c)          A
Subsidiary shall become an additional Subsidiary Loan Party by executing and delivering to the Administrative Agent a Subsidiary
Guaranty Joinder Agreement and a Security Joinder Agreement, accompanied by (i) certified copies of certificates or articles of
incorporation or organization, by-laws, membership operating agreements or other applicable Organization Documents, appropriate
authorizing resolutions of the board of directors of such Subsidiaries, and opinions of counsel comparable to those delivered pursuant
to Section 4.01(a)(v), and (ii) such other documents as the Administrative Agent may reasonably request. No Subsidiary that
becomes a Subsidiary Loan Party shall thereafter cease to be a Subsidiary Loan Party or be entitled to be released or discharged
from its obligations under the Subsidiary Guaranty Agreement; provided, however, that if (x) the Borrower certifies to the
Administrative Agent that a Subsidiary Loan Party is no longer a Material Domestic Subsidiary and requests that such Subsidiary
Loan Party be released from the Subsidiary Guaranty Agreement and each other Security Instrument to which it is party, and (y)
no Default or Event of Default is then continuing, then the Administrative Agent shall promptly release such Subsidiary Loan Party
from the Subsidiary Guaranty Agreement and each other Security Instrument to which it is party pursuant to a release in form and
substance reasonably satisfactory to Administrative Agent and at the expense of Borrower.


 


(d)          At
any time upon request of the Administrative Agent or any Lender through the Administrative Agent, (i) correct any material defect
or error that may be discovered in any Loan Document or in the execution, acknowledgment, filing or recordation thereof, and (ii)
do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds,
certificates, assurances and other instruments as the Administrative Agent, or any Lender through the Administrative Agent, may
reasonably require from time to time in order to (w) carry out more effectively the purposes of the Loan Documents, (x) to the
fullest extent permitted by applicable Law, subject any Loan Party’s properties, assets, rights or interests intended to
be covered by any of the Security Instruments to the Lien created under such agreements, (y) subject to the limitations on perfecting
and protecting Liens set forth herein and in the other Loan Documents, perfect and maintain the validity, effectiveness and priority
of any of the Collateral Documents and any of the Liens intended to be created thereunder and (z) assure, grant, preserve, protect
and confirm more effectively unto the Secured Parties the rights granted or now or hereafter intended to be granted to the Secured
Parties under any Loan Document or under any other instrument executed in connection with any Loan Document to which any Loan Party
is or is to be a party.


 




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Notwithstanding the foregoing,
in no event shall any assets of any Subsidiary be included in the Borrowing Base unless such Subsidiary has joined the Loan Documents
as a Loan Party as required hereby.


 


ARTICLE
VII.         NEGATIVE COVENANTS


 


So long as any Lender
shall have any Commitment hereunder, any Loan or other Obligation (except to the extent such Obligations consist solely of contingent
indemnity obligations not yet due and payable or Obligations with respect to any Related Cash Management Agreement) hereunder shall
remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall not, nor shall it permit any
Subsidiary to, directly or indirectly:


 


7.01      Indebtedness
and Preferred Equity. Create, incur, assume or suffer to exist any Indebtedness, except:


 


(a)          Indebtedness
created pursuant to the Loan Documents;


 


(b)          Indebtedness
of the Borrower and its Subsidiaries existing on the date hereof and set forth on Schedule 7.01 and extensions, renewals
and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving
effect to such extension, renewal or replacement) or shorten the maturity or the weighted average life thereof;


 


(c)          Investments
made by the Borrower in or to any Subsidiary Loan Party and by any Subsidiary Loan Party to the Borrower or in or to another Subsidiary
Loan Party;


 


(d)          Guarantees
by the Borrower of Indebtedness of any Subsidiary Loan Party and by any Subsidiary Loan Party of Indebtedness of the Borrower or
any other Subsidiary Loan Party;


 


(e)          Hedging
Obligations permitted by Section 7.10;


 


(f)          Indebtedness
not otherwise permitted by this Section 7.01 which is in an aggregate principal amount that does not exceed at any time
outstanding an amount equal to 25% of Consolidated Total Assets; provided that (i) no Default or Event of Default shall
have occurred and be continuing either immediately prior to or immediately after giving effect to the incurrence of such Indebtedness,
(ii) after giving pro forma effect to the incurrence of such Indebtedness, the Borrower is in compliance with the financial covenants
set forth in Section 7.15; and


 


(g)          Indebtedness
under any Related Cash Management Agreements.


 


Borrower will not, and will not permit any
Subsidiary to, issue any preferred stock or other preferred equity interests that (i) matures or is mandatorily redeemable pursuant
to a sinking fund obligation or otherwise, (ii) is or may become redeemable or repurchaseable by Borrower or such Subsidiary at
the option of the holder thereof, in whole or in part or (iii) is convertible or exchangeable at the option of the holder thereof
for Indebtedness or preferred stock or any other preferred equity interests described in this paragraph, on or prior to, in the
case of clause (i), (ii) or (iii), the first anniversary of the Maturity Date.


 




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7.02      Negative
Pledge. Create, incur, assume or suffer to exist any Lien on any of its assets or property now owned or hereafter acquired
or, except:


 


(a)          (i)
Liens securing payment of the Obligations and (ii) Permitted Encumbrances;


 


(b)          any
Liens on any property or asset of the Borrower or any Subsidiary existing on the Closing Date set forth on Schedule 7.02;
provided, that such Lien shall not apply to any other property or asset of the Borrower or any Subsidiary;


 


(c)          any
Lien (i) existing on any asset of any Person at the time such Person becomes a Subsidiary of the Borrower, (ii) existing on any
asset of any Person at the time such Person is merged with or into the Borrower or any Subsidiary of the Borrower or (iii) existing
on any asset prior to the acquisition thereof by the Borrower or any Subsidiary of the Borrower; provided, that with respect
to this clause (iii) (A) such Lien secures Indebtedness permitted by Section 7.01(f), (B) any such Lien was not created
in the contemplation of any of the foregoing and (C) any such Lien secures only those obligations which it secures on the date
that such Person becomes a Subsidiary or the date of such merger or the date of such acquisition;


 


(d)          extensions,
renewals, or replacements of any Lien referred to in subsections (a) through (c) of this Section 7.02; provided,
that the principal amount of the Indebtedness secured thereby is not increased and that any such extension, renewal or replacement
is limited to the assets originally encumbered thereby; and


 


(e)          in
addition to Liens permitted by the foregoing clauses (a) through (d), other Liens securing Indebtedness, provided that in
no event will the aggregate unpaid principal amount of Indebtedness secured by such other Liens exceed at any time an amount equal
to 5% of Consolidated Total Assets.


 


7.03      Fundamental
Changes.


 


(a)          Merge
into or consolidate into any other Person, or permit any other Person to merge into or consolidate with it, or sell, lease, transfer
or otherwise dispose of (in a single transaction or a series of transactions) all or substantially all of its assets (in each case,
whether now owned or hereafter acquired) or all or substantially all of the stock of any of its Subsidiaries (in each case, whether
now owned or hereafter acquired) or liquidate or dissolve; provided, that if at the time thereof and immediately after giving
effect thereto, no Default or Event of Default shall have occurred and be continuing (i) the Borrower or any Subsidiary may merge
with a Person if the Borrower (or such Subsidiary if the Borrower is not a party to such merger) is the surviving Person, (ii)
any Subsidiary may merge into another Subsidiary; provided, that if any party to such merger is a Subsidiary Loan Party, the Subsidiary
Loan Party shall be the surviving Person (except in the event of a merger among Subsidiary Loan Parties, in which case any single
Subsidiary Loan Party shall be the surviving Person), (iii) (x) any Subsidiary may sell, transfer, lease or otherwise dispose of
all or substantially all of its assets to the Borrower or to a Subsidiary Loan Party, (y) provided that the conditions of Section
6.10 have been met (and substantially simultaneously with such sale, disposition, transfer, lease or other dispositions will
be met), any Domestic Subsidiary that is not a Loan Party may sell, transfer, lease or otherwise dispose of all or substantially
all of its assets to any other Domestic Subsidiary and (z) any Foreign Subsidiary may sell, transfer, lease or otherwise dispose
of all or substantially all of its assets to any other Foreign Subsidiary and (iv) any Subsidiary (other than a Subsidiary Loan
Party) may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best interests
of the Borrower and is not materially disadvantageous to the Lenders; provided, that any such merger involving a Person
that is not a wholly-owned Subsidiary immediately prior to such merger shall not be permitted unless also permitted by Section
7.04.


 




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(b)          Engage
in any business other than businesses of the type conducted by the Borrower and its Subsidiaries on the date hereof, businesses
reasonably related thereto and ancillary or complementary lines of business thereto.


 


7.04      Investments,
Loans, Etc. Purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly-owned Subsidiary
prior to such merger), any common stock, evidence of indebtedness or other securities (including any option, warrant, or other
right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make
or permit to exist any investment or any other interest in, any other Person (all of the foregoing being collectively called “Investments”),
except:


 


(a)          Investments
(other than Permitted Investments) existing on the date hereof and set forth on Schedule 7.04 (including Investments in
Subsidiaries);


 


(b)          Permitted
Investments, cash and cash equivalents;


 


(c)          Guarantees
constituting Indebtedness permitted by Section 7.01(c) and (d);


 


(d)          Investments
made by the Borrower in or to any Subsidiary Loan Party and by any Subsidiary Loan Party to the Borrower or in or to another Subsidiary
Loan Party;


 


(e)          loans
or advances to employees, officers or directors of the Borrower or any Subsidiary in the ordinary course of business for travel,
relocation and related expenses; provided, however, that the aggregate amount of all such loans and advances does not exceed
$1,000,000 at any time outstanding;


 


(f)          Hedging
Transactions permitted by Section 7.10;


 


(g)          Redemptions
and repurchases of Borrower’s common stock permitted by Section 7.05;


 


(h)          Acquisitions
permitted by Section 7.14; and


 


(i)          Other
Investments which in the aggregate do not exceed 15% of Consolidated Total Assets at any time; provided that no Default
or Event of Default shall have occurred and be continuing either immediately prior to or immediately after giving effect to such
Investment.


 




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7.05      Restricted
Payments. Declare or make, or agree to pay or make, directly or indirectly, any dividend on any class of its stock, or make
any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, retirement,
defeasance or other acquisition of, any shares of common stock or Indebtedness subordinated to the Obligations of the Borrower
or any Guarantee thereof or any options, warrants, or other rights to purchase such common stock or such Indebtedness, whether
now or hereafter outstanding (each, a “Restricted Payment”), except for


 


(i)          dividends
payable by the Borrower solely in shares of any class of its Capital Stock,


 


(ii)         Restricted
Payments made by any Subsidiary to the Borrower or to another Subsidiary, on at least a pro rata basis with any other shareholders
if such Subsidiary is not wholly owned by the Borrower and other wholly owned Subsidiaries,


 


(iii)        Restricted
Payments paid in cash in an unlimited amount at any time when the Consolidated Leverage Ratio before and after giving pro forma
effect to such Restricted Payments (determined as of the end of the most recently then ended fiscal quarter for which a Compliance
Certificate has been delivered pursuant to Section 6.01(c) and including any Indebtedness incurred in connection therewith),
does not and would not exceed 1.50:1.0 (the satisfaction of such condition, the “RP Leverage Condition”) and
so long as before and after giving pro forma effect to such Restricted Payments (determined as described above), no Default or
Event of Default has occurred and is continuing or would result therefrom;


 


(iv)        at
any time when the RP Leverage Condition described in clause (iii) above is not satisfied, Restricted Payments paid in cash in an
aggregate amount for all such Restricted Payments permitted by this clause (iv) in any fiscal year of up to $125,000,000 so long
as, before and after giving pro forma effect to such Restricted Payments (determined as of the end of the most recently then ended
fiscal quarter for which a Compliance Certificate has been delivered pursuant to Section 6.01(c) and including any Indebtedness
incurred in connection therewith), no Default or Event of Default has occurred and is continuing or would result therefrom.


 


7.06      Sale
of Assets. Convey, sell, lease, assign, transfer or otherwise dispose of, any of its assets, business or property, whether
now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital
Stock to any Person other than to the Borrower or any Subsidiary Loan Party (or to qualify directors if required by applicable
law), except:


 


(a)          the
sale or other disposition of obsolete or worn out property or other property no longer used or useful in the conduct of Borrower’s
business in the ordinary course of business;


 


(b)          the
sale of inventory and, except as prohibited pursuant to Section 7.04, cash equivalents and Permitted Investments in the
ordinary course of business;


 




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(c)          leases
and licenses (including Subleases and Sublicenses) of equipment in the ordinary course of business, and losses of equipment resulting
from the failure of customers to return equipment to Borrower or its Subsidiary; and


 


(d)          sales,
transfers and dispositions permitted by Sections 7.02, 7.03, 7.05 and 7.09;


 


(e)          dispositions
resulting from any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar
proceeding of, any property or asset of a Loan Party or any Subsidiary;


 


(f)          dispositions
of accounts receivable and instruments in connection with the collection or compromise thereof in the ordinary course of business;


 


(g)          the
sale or other disposition of less than all or less than substantially all of their respective assets (i) to the Borrower or any
Subsidiary Loan Party, (ii) provided that the conditions of Section 6.10 have been met (and will be met substantially simultaneously
with such sale or disposition), by any Domestic Subsidiary that is not a Loan Party to any other Domestic Subsidiary that is not
a Loan Party and (iii) by any Foreign Subsidiary to any other Foreign Subsidiary; and


 


(h)          other
sales, leases, assigns, transfers or other dispositions of such assets or property which in an aggregate do not exceed 10% of Consolidated
Net Tangible Assets in any Fiscal Year; provided that no Default or Event of Default shall have occurred and be continuing
either immediately prior to or immediately after giving effect to the incurrence of such dispositions..


 


7.07       Transactions
with Affiliates. Sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property
or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except (a) transactions in the ordinary
course of business at prices and on terms and conditions not less favorable to the Borrower or such Subsidiary than could be obtained
on an arm’s-length basis from unrelated third parties, (b) transactions between or among the Borrower and any Subsidiary
Loan Party not involving any other Affiliates, (c) any Restricted Payment permitted by Section 7.05, (d) to the extent not
specifically prohibited elsewhere in this Agreement and provided that the conditions of Section 6.10 have been met (and
will be met substantially simultaneously with such transactions), transactions between or among Loan Parties and Subsidiaries that
are not Loan Parties, at prices and on terms and conditions not less favorable to such Loan Parties than could be obtained on an
arm’s-length basis from unrelated third parties and (e) provided that the conditions of Section 6.10 have been met
(and will be met substantially simultaneously with such transactions), transactions between or among Subsidiaries that are not
Loan Parties.


 




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7.08      Restrictive
Agreements. Directly or indirectly, enter into, incur or permit to exist any agreement that (a) prohibits, restricts or imposes
any condition upon (i) the ability of the Borrower or any Subsidiary to create, incur or permit any Lien upon any of its assets
or properties, whether now owned or hereafter acquired, or (ii) (1) the ability of any Subsidiary to pay dividends or other distributions
with respect to its common stock, to make or repay loans or advances to the Borrower or any other Subsidiary, or (2) the ability
of any Subsidiary Loan Party to Guarantee Indebtedness of the Borrower or any other Subsidiary Loan Party or to transfer any of
its property or assets to the Borrower or any Subsidiary Loan Party; provided, that (A) the foregoing shall not apply to restrictions
or conditions imposed by law or by this Agreement or any other Loan Document, (B) the foregoing shall not apply to instruments
governing Indebtedness or Capital Stock of a Person or property acquired by a Borrower or a Subsidiary (except to the extent such
Indebtedness was incurred in contemplation of such acquisition) so long as such Indebtedness is terminated or such restriction
is removed within 90 days of such acquisition, (C) the foregoing shall not apply to customary restrictions and conditions contained
in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the
Subsidiary that is sold and such sale is permitted hereunder, (D) clause (i) shall not apply to restrictions or conditions
imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions and conditions apply
only to the property or assets securing such Indebtedness, and (E) clause (i) shall not apply to customary provisions in
contracts, leases and license agreements entered into in the ordinary course of business restricting the assignment thereof; or
(b) with respect to agreements with obligations owing thereunder of the Borrower or any Subsidiary Loan Party greater than $5,000,000,
requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to secure another obligation of such Person.


 


7.09      Sale
and Leaseback Transactions. Enter into any arrangement, directly or indirectly, whereby it shall sell or transfer any property,
real or personal, used or useful in its business, whether now owned or hereinafter acquired, and thereafter rent or lease such
property or other property that it intends to use for substantially the same purpose or purposes as the property sold or transferred
unless the book value for all property so sold and leased pursuant to such sale-leaseback transactions shall not exceed $20,000,000
in any Fiscal Year; provided that no Default or Event of Default shall have occurred and be continuing either immediately
prior to or immediately after giving effect to such transaction.


 


7.10      Hedging
Transactions. Enter into any Hedging Transaction, other than Hedging Transactions entered into in the ordinary course of business
to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management
of its liabilities. Solely for the avoidance of doubt, the Borrower acknowledges that a Hedging Transaction entered into for speculative
purposes or of a speculative nature (which shall be deemed to include any Hedging Transaction under which the Borrower or any of
the Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by any third party of any common
stock or any Indebtedness or (ii) as a result of changes in the market value of any common stock or any Indebtedness) is not a
Hedging Transaction entered into in the ordinary course of business to hedge or mitigate risks.


 


7.11      Amendment
to Material Documents. Amend, modify or waive any of its rights in a manner materially adverse to the Lenders under its Organization
Documents.


 


7.12      [Intentionally
Omitted.].


 


7.13      Accounting
Changes; Changes in Fiscal Year. Make any significant change in accounting treatment or reporting practices, except as required
by GAAP, or change the fiscal year of the Borrower or of any of its Subsidiaries, except to change the fiscal year of a Subsidiary
to conform its fiscal year to that of the Borrower.


 




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7.14      Acquisitions.
Make any Acquisition, or take any action to solicit the tender of securities or proxies in respect thereof in order to effect any
Acquisition, unless (i) the Person to be (or whose assets are to be) acquired does not oppose such Acquisition and the material
line or lines of business of the Person to be acquired are substantially the same as one or more line or lines of business conducted
by the Borrower and its Subsidiaries, or substantially related or incidental thereto, (ii) no Default or Event of Default shall
have occurred and be continuing either immediately prior to or immediately after giving effect to such Acquisition, (iii) after
giving pro forma effect to such Acquisition, the Borrower would be in compliance with the covenant set forth in Section 7.15(a),
(iv) the Person acquired shall be a wholly-owned Subsidiary, or be merged into the Borrower or a wholly-owned Subsidiary, immediately
upon consummation of the Acquisition (or if assets are being acquired, the acquiror shall be the Borrower or a wholly-owned Subsidiary),
and (v) after the consummation of such Acquisition, the Borrower or any applicable Subsidiary shall have complied with the provisions
of Section 6.10, if applicable.


 


7.15      Financial
Covenants..


 


(a)          Maximum
Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio at any time during a Consolidated EBITDA < $50 Million
Non-Test Period to be greater than 2.50:1.00.


 


(b)          Minimum
Debt Service Coverage Ratio. Permit the Consolidated Debt Service Coverage Ratio as of the end of any Fiscal Quarter occurring
at any time during a Consolidated EBITDA < $50 Million Non-Test Period to be less than 2.00:1.00.


 


(c)          Minimum
Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth at any time during a Consolidated EBITDA < $50 Million
Test Period to be less than $600,000,000.


 


7.16      Sanctions.
Directly or indirectly, use any Credit Extension or the proceeds of any Credit Extension, or lend, contribute or otherwise make
available such Credit Extension or the proceeds of any Credit Extension to any Person, to fund any activities of or business with
any Person, or in any Designated Jurisdiction, that, at the time of such funding, is the subject of Sanctions, or in any other
manner that will result in a violation of any Sanctions applicable to any party hereto.


 


7.17      Borrowing
Base.


 


(a)          Permit
at any time the sum of the Total Outstandings to exceed the Advance Limit, unless the Borrower shall have immediately complied
with Section 2.05(c) with respect to such excess.


 


(b)          Substantially
change the method of valuation of the Eligible Accounts with respect to the Borrowing Base from that used by the Borrower and its
Subsidiaries on the Amendment No. 3 Effectiveness Date.


 




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ARTICLE
VIII.    EVENTS OF DEFAULT AND REMEDIES


 


8.01      Events
of Default. Any of the following shall constitute an Event of Default:


 


(a)          Non-Payment
of Loans or L/C Obligations. The Borrower shall fail to pay any principal of any Loan or L/C Obligation when and as the same
shall become due and payable, whether at the due date thereof or at a date fixed for prepayment or otherwise


 


(b)          Non-Payment
of Other Items The Borrower or any other Loan Party shall fail to pay any interest on any Loan or any fee or any other amount
(other than an amount payable under Section 8.01(a)) payable under this Agreement or any other Loan Document, when and as
the same shall become due and payable, and such failure shall continue unremedied for a period of three (3) Business Days; or


 


(c)          Representations
and Warranties. Any representation or warranty made or deemed made by or on behalf of the Borrower or any Subsidiary in or
in connection with this Agreement or any other Loan Document (including the Schedules attached thereto) and any amendments or modifications
hereof or waivers hereunder, or in any certificate, report, financial statement or other document submitted to the Administrative
Agent or the Lenders by any Loan Party or any representative of any Loan Party pursuant to or in connection with this Agreement
or any other Loan Document shall prove to be incorrect in any material respect when made or deemed made or submitted; or


 


(d)          Specific
Covenants. The Borrower shall fail to observe or perform any covenant or agreement contained in Section 6.02(a), Section
6.03 (with respect to the Borrower’s existence) or Articles VII; or the Borrower shall fail to observe or perform
any covenant or agreement contained in Section 6.01, and such failure in respect of Section 6.01 shall remain unremedied
for 5 Business Days after the earlier of (i) any Responsible Officer of the Borrower becomes aware of such failure, or (ii) notice
thereof shall have been given to the Borrower by the Administrative Agent or any Lender; or


 


(e)          Other
Defaults. Any Loan Party shall fail to observe or perform any covenant or agreement contained in this Agreement (other than
those referred to in clauses (a) through (d) above) or any other Loan Document, and such failure shall remain unremedied
for 30 days after the earlier of (i) any Responsible Officer of the Borrower becomes aware of such failure, or (ii) notice thereof
shall have been given to the Borrower by the Administrative Agent or any Lender; or


 


(f)          Cross-Default.
The Borrower or any Subsidiary (whether as primary obligor or as guarantor or other surety) shall fail to pay any principal of,
or premium or interest on, any Material Indebtedness that is outstanding, when and as the same shall become due and payable (whether
at scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable
grace period, if any, specified in the agreement or instrument evidencing or governing such Material Indebtedness; or any other
event shall occur or condition shall exist under any agreement or instrument relating to such Material Indebtedness and shall continue
after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition
is to accelerate, or permit the acceleration of, the maturity of such Material Indebtedness; or any such Indebtedness shall be
declared to be due and payable, or required to be prepaid or redeemed (other than by a regularly scheduled required prepayment
or redemption), purchased or defeased, or any offer to prepay, redeem, purchase or defease such Material Indebtedness shall be
required to be made, in each case prior to the stated maturity thereof; or


 




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(g)          Voluntary
Insolvency Proceedings, Etc. The Borrower, any Material Domestic Subsidiary or any Subsidiary Loan Party shall (i) commence
a voluntary case or other proceeding or file any petition seeking liquidation, reorganization or other relief under any Debtor
Relief Law or seeking the appointment of a custodian, trustee, receiver, liquidator or other similar official of it or any substantial
part of its property, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding
or petition described in clause (i) of this Section 8.01, (iii) apply for or consent to the appointment of a custodian,
trustee, receiver, liquidator or other similar official for the Borrower, any such Material Domestic Subsidiary or any such Subsidiary
Loan Party or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed
against it in any such proceeding, (v) make a general assignment for the benefit of creditors, or (vi) take any action for the
purpose of effecting any of the foregoing; or


 


(h)          Involuntary
Insolvency Proceedings, Etc. An involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking
(i) liquidation, reorganization or other relief in respect of the Borrower, any such Material Domestic Subsidiary, any such Subsidiary
Loan Party, or its debts, or any substantial part of its assets, under any Debtor Relief Law or (ii) the appointment of a custodian,
trustee, receiver, liquidator or other similar official for the Borrower, any Material Domestic Subsidiary or any Subsidiary Loan
Party or for a substantial part of its assets, and in any such case, such proceeding or petition shall remain undismissed for a
period of 60 days or an order or decree approving or ordering any of the foregoing shall be entered; or


 


(i)          Inability
to Pay Debts; Attachment. (i) The Borrower, any Material Domestic Subsidiary or any Subsidiary Loan Party shall become unable
to pay, shall admit in writing its inability to pay, or shall fail to pay, its debts as they become due or (ii) any writ or warrant
of attachment or execution or similar process is issued or levied against all or any material part of the property of any such
Person and is not released, vacated or fully bonded within 30 days after its issue or levy; or


 


(j)          ERISA.
(i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or would reasonably be expected
to result in a Material Adverse Effect, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration
of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under
a Multiemployer Plan in an aggregate amount which would reasonably be expected to result in a Material Adverse Effect; or


 


(k)          Monetary
Judgments. Any judgment or order for the payment of money in excess of $25,000,000 in any Fiscal Year or in excess of $50,000,000
in the aggregate (except to the extent covered by insurance with a financially sound insurance carrier rated at least A- by A.M.
Best, that has acknowledged coverage of the relevant claim) in the aggregate shall be rendered against the Borrower or any Subsidiary,
and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order or (ii) there shall
be a period of 30 consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal
or otherwise, shall not be in effect; or


 




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(l)          Non-Monetary
Judgments. Any non-monetary judgment or order shall be rendered against the Borrower or any Subsidiary that would reasonably
be expected to have a Material Adverse Effect, and there shall be a period of 30 consecutive days during which a stay of enforcement
of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; or


 


(m)          Change
of Control. A Change in Control shall occur or exist; or


 


(n)          Invalidity
of Loan Documents. Any provision of any Loan Document shall for any reason cease to be valid and binding on, or enforceable
against, any Loan Party, or any Loan Party shall so state in writing, or any Loan Party purports to revoke, terminate or rescind
any Loan Document, or any Security Instrument after delivery thereof shall for any reason (other than the failure of the Administrative
Agent to file UCC financing statements or continuation thereof or to maintain possession of collateral requiring possession thereof
under the UCC for perfection or otherwise pursuant to the terms thereof) cease to create a valid and perfected first priority Lien
(subject to Permitted Encumbrances) on the Collateral purported to be covered thereby.


 


8.02      Remedies
Upon Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of,
or may, with the consent of, the Required Lenders, take any or all of the following actions:


 


(a)          declare
the commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated,
whereupon such commitments and obligation shall be terminated;


 


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


 


(c)          require
that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and


 


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


 


provided, however,
that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy
Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit
Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts
as aforesaid shall automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations
as aforesaid shall automatically become effective, in each case without further act of the Administrative Agent or any Lender.


 




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8.03      Application
of Funds. After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become
immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in
the proviso to Section 8.02) or if at any time insufficient funds are received by and available to the Administrative Agent
to pay fully all Obligations then due hereunder, any amounts received on account of the Obligations shall, subject to the provisions
of Sections 2.16 and 2.17, be applied by the Administrative Agent in the following order:


 


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


 


Second, to payment
of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter
of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective
Lenders and the L/C Issuer (including fees and time charges for attorneys who may be employees of any Lender or the L/C Issuer)
arising under the Loan Documents and amounts payable under Article III, ratably among them in proportion to the respective
amounts described in this clause Second payable to them;


 


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


 


Fourth, to payment
of that portion of the Obligations constituting unpaid principal of the Loans, L/C Borrowings and Obligations then owing under
Related Hedging Obligations and Related Cash Management Agreements, ratably among the Lenders, the L/C Issuer, the Hedge Banks
and the Cash Management Banks in proportion to the respective amounts described in this clause Fourth held by them;


 


Fifth, to the
Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the
aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections
2.03 and 2.16; and


 


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


 


Subject to Sections
2.03(c) and 2.16, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause
Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit
as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied
to the other Obligations, if any, in the order set forth above.


 




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Notwithstanding the foregoing,
Related Hedging Obligations shall be excluded from the application described above if the Administrative Agent has not received
written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the applicable
Hedge Bank. Excluded Hedging Obligations with respect to any Loan Party shall not be paid with amounts received from such Loan
Party, but appropriate adjustments shall be made with respect to payments from other Loan Parties to preserve the allocation to
Obligations otherwise set forth above in this Section.


 


ARTICLE
IX.     ADMINISTRATIVE AGENT


 


9.01      Appointment
and Authority. Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to act on its behalf as the
Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions
on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together
with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of
the Administrative Agent, the Lenders and the L/C Issuer, and the Borrower shall not have rights as a third party beneficiary of
any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents
(or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied
(or express) obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom,
and is intended to create or reflect only an administrative relationship between contracting parties. The Administrative Agent
shall also act as the “collateral agent” under the Loan Documents, and each of the Lenders (including in its
capacities as a potential Hedge Bank and a potential Cash Management Bank) and the L/C Issuers hereby irrevocably appoints and
authorizes the Administrative Agent to act as the agent of such Lender and such L/C Issuer for purposes of acquiring, holding and
enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such
powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as “collateral
agent” and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 9.05
for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents,
or for exercising any rights and remedies thereunder at the direction of the Administrative Agent), shall be entitled to the benefits
of all provisions of this Article IX and Article X (including Section 10.04(c), as though such co-agents,
sub-agents and attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full herein
with respect thereto.


 


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


 




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


 


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


 


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


 


(c)          shall
not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for
the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained
by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.


 


Neither the Administrative
Agent nor any of its Related Parties shall be liable for any action taken or not taken by the Administrative Agent under or in
connection with this Agreement or any other Loan Document or the transactions contemplated hereby or thereby (i) with the consent
or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative
Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 10.01 and 8.02)
or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by
final and nonappealable judgment. Any such action taken or failure to act pursuant to the foregoing shall be binding on all Lenders.
The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is
given to the Administrative Agent by the Borrower, a Lender or the L/C Issuer.


 


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


 




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9.04      Reliance
by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall be fully protected in relying and
shall not incur any liability for relying upon, any notice, request, certificate, communication, consent, statement, instrument,
document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed
by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also
may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person and shall
be fully protected in relying, and shall not incur any liability for relying thereon. In determining compliance with any condition
hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must
be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative Agent may presume that such condition is satisfactory
to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or
the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult
with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not
be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.


 


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


 


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


 




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If the Person serving
as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the Required Lenders may, to the
extent permitted by applicable Law, by notice in writing to the Borrower and such Person remove such Person as Administrative Agent
and, in consultation with the Borrower, appoint a successor. If no such successor shall have been so appointed by the Required
Lenders and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders)
(the "Removal Effective Date"), then such removal shall nonetheless become effective in accordance with such notice
on the Removal Effective Date.


 


With effect from the
Resignation Effective Date or the Removal Effective Date (as applicable) (i) the retiring or removed Administrative Agent shall
be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral
security held by the Administrative Agent on behalf of the Lenders or the L/C Issuers under any of the Loan Documents, the retiring
or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent
is appointed) and (ii) except for any indemnity payments or other amounts then owed to the retiring or removed Administrative Agent,
all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be
made by or to each Lender and the L/C Issuer directly, until such time as the Required Lenders appoint a successor Administrative
Agent as provided for above in this Section. Upon the acceptance of a successor's appointment as Administrative Agent hereunder,
such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or removed)
Administrative Agent (other than as provided in Section 3.01(g) and other than any rights to indemnity payments or other
amounts owed to the retiring or removed Administrative Agent as of the Resignation Effective Date or the Removal Effective Date,
as applicable), and the retiring or removed Administrative Agent shall be discharged from all of its duties and obligations hereunder
or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by
the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed
between the Borrower and such successor. After the retiring or removed Administrative Agent's resignation or removal hereunder
and under the other Loan Documents, the provisions of this Article and Section 10.04 shall continue in effect for the benefit
of such retiring or removed Administrative Agent, its sub agents and their respective Related Parties in respect of any actions
taken or omitted to be taken by any of them while the retiring or removed Administrative Agent was acting as Administrative Agent
and (ii) after such resignation or removal for as long as any of them continues to act in any capacity hereunder or under the other
Loan Documents, including (a) acting as collateral agent or otherwise holding any collateral security on behalf of any of the Lenders
and (b) in respect of any actions taken in connection with transferring the agency to any successor Administrative Agent. .


 




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Any resignation by
Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as an L/C Issuer and Swing
Line Lender. If Bank of America resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of the
L/C Issuer hereunder with respect to all Letters of Credit issued by it and outstanding as of the effective date of its resignation
as L/C Issuer and all L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans
or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c). If Bank of America resigns as Swing Line
Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by
it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans
or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the acceptance of a successor’s
appointment as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring L/C Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender shall
be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (c) the successor
L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession
or make other arrangements reasonably satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring
L/C Issuer with respect to such Letters of Credit.


 


9.07      Non-Reliance
on Administrative Agent and Other Lenders. Each Lender and the L/C Issuer acknowledges that it has, independently and without
reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information
as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer
also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of
their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make
its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement
or any document furnished hereunder or thereunder.


 


9.08      No
Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the Bookrunners, Arrangers, or Syndication Agents
listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan
Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the L/C Issuer hereunder.


 


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


 


(a)          to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations
and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order
to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and
counsel and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent under Sections 2.03(h) and (i),
2.09 and 10.04) allowed in such judicial proceeding; and


 




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


 


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


 


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


 


The Secured Parties
hereby irrevocably authorize the Administrative Agent, at the direction of the Required Lenders, to credit bid all or any portion
of the Obligations (including accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant
to a deed in lieu of foreclosure or otherwise) and in such manner purchase (either directly or through one or more acquisition
vehicles) all or any portion of the Collateral (a) at any sale thereof conducted under the provisions of the Bankruptcy Code of
the United States, including under Sections 363, 1123 or 1129 of the Bankruptcy Code of the United States, or any similar Laws
in any other jurisdictions to which a Loan Party is subject, (b) at any other sale or foreclosure or acceptance of collateral in
lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial action or
otherwise) in accordance with any applicable Law. In connection with any such credit bid and purchase, the Obligations owed to
the Secured Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent
or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that would vest upon the liquidation
of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent
interests) in the asset or assets so purchased (or in the Equity Interests or debt instruments of the acquisition vehicle or vehicles
that are used to consummate such purchase). In connection with any such bid (i) the Administrative Agent shall be authorized to
form one or more acquisition vehicles to make a bid, (ii) to adopt documents providing for the governance of the acquisition vehicle
or vehicles (provided that any actions by the Administrative Agent with respect to such acquisition vehicle or vehicles, including
any disposition of the assets or Equity Interests thereof shall be governed, directly or indirectly, by the vote of the Required
Lenders, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the Required
Lenders contained in clauses (a) through (g) of Section 10.01 of this Agreement, (iii) the Administrative
Agent shall be authorized to assign the relevant Obligations to any such acquisition vehicle pro rata by the Lenders, as a result
of which each of the Lenders shall be deemed to have received a pro rata portion of any equity interests and/or debt instruments
issued by such an acquisition vehicle on account of the assignment of the Obligations to be credit bid, all without the need for
any Secured Party or acquisition vehicle to take any further action, and (iv) to the extent that Obligations that are assigned
to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better,
because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of debt credit bid by the acquisition
vehicle or otherwise), such Obligations shall automatically be reassigned to the Lenders pro rata and the equity interests and/or
debt instruments issued by any acquisition vehicle on account of the Obligations that had been assigned to the acquisition vehicle
shall automatically be cancelled, without the need for any Secured Party or any acquisition vehicle to take any further action.


 




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9.10      Collateral
and Guaranty Matters. Without limiting the provisions of Section 9.09, the Lenders and the L/C Issuer irrevocably authorize
the Administrative Agent, at its option and in its discretion, (a) to release any Lien on any property granted to or held by the
Administrative Agent under any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all Obligations
(other than contingent indemnification obligations) and the expiration or termination of all Letters of Credit (other than Letters
of Credit as to which other arrangements reasonably satisfactory to the Administrative Agent and the L/C Issuer shall have been
made), (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale
or other disposition permitted hereunder or under any other Loan Document, or (iii) subject to Section 10.01, if approved,
authorized or ratified in writing by the Required Lenders; and (b) to release any Subsidiary Loan Party from its obligations under
the Subsidiary Guaranty Agreement or the Security Instruments if such Person ceases to be a Subsidiary as a result of a transaction
permitted hereunder.


 


Upon request by the
Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release
any Subsidiary Loan Party from its obligations under the Subsidiary Guaranty Agreement or the Security Instruments pursuant to
this Section 9.10. The Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any
representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection
of the Administrative Agent’s Lien thereon, or any certificate prepared by any Loan Party in connection therewith, nor shall
the Administrative Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.


 


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


 




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ARTICLE
X.     MISCELLANEOUS


 


10.01    Amendments,
Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure
by the Borrower or any other Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders and the
Borrower or the applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent (and to the extent such
acknowledgement would be solely administrative in nature, shall not be unreasonably withheld or delayed in such capacity), and
each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided,
however, that no such amendment, waiver or consent shall:


 


(a)          waive
any condition set forth in Section 4.01(a) without the written consent of each Lender;


 


(b)          extend
or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without the written
consent of such Lender;


 


(c)          postpone
any date fixed by this Agreement or any other Loan Document for any payment of principal, interest, fees or other amounts due to
the Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each Lender directly affected
thereby;


 


(d)          reduce
the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (iv) of
the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan Document without
the written consent of each Lender directly affected thereby; provided, however, that only the consent of the Required
Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of the Borrower
to pay interest or Letter of Credit Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined
term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or
to reduce any fee payable hereunder;


 


(e)          change
Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the written consent
of each Lender;


 


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


 


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


 




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and, provided further,
that (i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required
above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit
issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender
in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no
amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required
above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; and (iv) the Fee
Letters may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto. Notwithstanding
anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent
hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender
may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any
Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or modification
requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than
other affected Lenders shall require the consent of such Defaulting Lender.


 


For the avoidance of
doubt and notwithstanding any provision herein to the contrary, this Agreement may be amended with the written consent of the Required
Lenders, the Administrative Agent and the Borrower (i) to add one or more additional revolving credit facilities to this Agreement,
in each case subject to the limitations in Section 2.15, and to permit the extensions of credit and all related obligations
and liabilities arising in connection therewith from time to time outstanding to share ratably (or on a basis subordinated to the
existing facilities hereunder) in the benefits of this Agreement and the other Loan Documents with the obligations and liabilities
from time to time outstanding in respect of the existing facilities hereunder, and (ii) in connection with the foregoing, to permit,
as deemed appropriate by the Administrative Agent and approved by the Required Lenders, the Lenders providing such additional credit
facilities to participate in any required vote or action required to be approved by the Required Lenders or by any other number,
percentage or class of Lenders hereunder.


 


10.02    Notices;
Effectiveness; Electronic Communication.


 


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


 


(i)          if
to the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line Lender, to the address, telecopier number, electronic
mail address or telephone number specified for such Person on Schedule 10.02; and


 




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


 


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


 


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


 


Unless the Administrative
Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the
sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication
is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at
the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet
or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described
in the foregoing clause (i) of notification that such notice or communication is available and identifying the website
address therefor.


 


(c)          The
Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW)
DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY
FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE
DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative
Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower,
any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort,
contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials
through the Internet, telecommunications, electronic or other information transmission systems, except to the extent that such
losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable
judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event
shall any Agent Party have any liability to any Borrower, any Lender, any L/C Issuer or any other Person for indirect, special,
incidental, consequential or punitive damages (as opposed to direct or actual damages).


 




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


 


(e)          Reliance
by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuer and the Lenders shall be entitled
to rely and act upon any notices (including telephonic Committed Loan Notices and Swing Line Loan Notices) purportedly given by
or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded
or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from
any confirmation thereof. The Borrower shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the Related Parties
of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly
given by or on behalf of the Borrower. All telephonic notices to and other telephonic communications with the Administrative Agent
may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording.


 


10.03    No
Waiver; Cumulative Remedies; Enforcement. No failure by any Lender, the L/C Issuer or the Administrative Agent to exercise,
and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof;
nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise
thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.


 




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Notwithstanding anything
to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under
the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings
at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance
with Section 8.02 for the benefit of all the Lenders and the L/C Issuer; provided, however, that the foregoing
shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit
(solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer or the Swing
Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer or Swing Line
Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance
with Section 10.08 (subject to the terms of Section 2.13), or (d) any Lender from filing proofs of claim or appearing
and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law;
and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under
the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant
to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding
proviso and subject to Section 2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies
available to it and as authorized by the Required Lenders.


 


10.04    Expenses;
Indemnity; Damage Waiver.


 


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


 




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(b)          Indemnification
by the Borrower. The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and the L/C
Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including
the fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee
by any third party or by the Borrower or any other Loan Party arising out of, in connection with, or as a result of (i) the
execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby,
the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation of the transactions
contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties
only, the administration of this Agreement and the other Loan Documents (including in respect of any matters addressed in Section
3.01), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by
the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand
do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous
Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability
related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation
or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third
party or by the Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party thereto, IN ALL CASES,
WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE;
provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment
to have resulted from (A) the gross negligence or willful misconduct of such Indemnitee or (B) disputes solely between Indemnitees
and not (1) involving any action or inaction by any Loan Party or any of their subsidiaries or (2) relating to any action of such
Indemnitee in its capacity as Administrative Agent, Arranger or Lender, (y) result from a claim brought by the Borrower or
any other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any
other Loan Document, if the Borrower or such other Loan Party has obtained a final and nonappealable judgment in its favor on such
claim as determined by a court of competent jurisdiction. This Section 10.04(b) shall not apply with respect to Taxes other
than Taxes that represent losses, claims, damages, liabilities or expenses arising from any non-Tax claim


 


(c)          Reimbursement
by Lenders. To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under subsection (a)
or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any Related
Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the L/C
Issuer or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the
applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that the unreimbursed expense
or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative
Agent (or any such sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party of any of the foregoing acting
for the Administrative Agent (or any such sub-agent) or L/C Issuer in connection with such capacity. The obligations of the Lenders
under this subsection (c) are subject to the provisions of Section 2.12(d).


 




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(d)          Waiver
of Consequential Damages, Etc. Without limitation of the Borrower’s obligations under Section 10.04(a) or (b),
and to the fullest extent permitted by applicable law, neither the Borrower nor any Indemnitee shall assert, and each hereby waives,
any claim against any other party hereto, on any theory of liability, for special, indirect, consequential or punitive damages
(as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter
of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages
arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by
such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement
or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting
from the gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court
of competent jurisdiction.


 


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


 


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


 


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


 




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10.06    Successors
and Assigns.


 


(a)          Successors
and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any
of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender
may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions
of subsection (b) of this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section,
or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section (and
any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or
implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby,
the Related Parties of each of the Administrative Agent, the L/C Issuer and the Lenders) any legal or equitable right, remedy or
claim under or by reason of this Agreement.


 


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


 


(i)          Minimum
Amounts.


 


(A)         in
the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing
to it or in the case of an assignment to a Lender, no minimum amount need be assigned; and


 


(B)         in
any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this purpose
includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans
of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption,
as of the Trade Date, shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Event of Default
has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed);
provided, however, that concurrent assignments to members of an Assignee Group and concurrent assignments from members
of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated
as a single assignment for purposes of determining whether such minimum amount has been met.


 




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


 


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


 


(A)         the
consent of the Borrower (such consent not to be unreasonably withheld) shall be required unless (1) an Event of Default has occurred
and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved
Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto
by written notice to the Administrative Agent within ten (10) Business Days after having received notice thereof;


 


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


 


(C)         the
consent of the L/C Issuer (such consent not to be unreasonably withheld or delayed) shall be required for any assignment that increases
the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding);
and


 


(D)         the
consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for any assignment.


 


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


 


(v)         No
Assignment to Certain Persons. No such assignment shall be made (A) to the Borrower or any of the Borrower’s Affiliates
or Subsidiaries, or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder,
would constitute any of the foregoing Persons described in this clause (B), or (C) to a natural person.


 




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(vi)        Certain
Additional Payments. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such
assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the
assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution
thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata
share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the
Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full
pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its Applicable Percentage.
Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall
become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest
shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.


 


Subject to acceptance
and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective date
specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the
assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its
obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to
the benefits of Sections 3.01, 3.04, 3.05, and 10.04 with respect to facts and circumstances occurring
prior to the effective date of such assignment. Upon request, the Borrower (at its expense) shall execute and deliver a Note to
the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply
with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights
and obligations in accordance with subsection (d) of this Section.


 


(c)          Register.
The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency being solely for tax purposes),
shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register
for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest)
of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).
The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent and the Lenders may 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. In addition, the Administrative Agent shall maintain on the Register information regarding the designation,
and revocation of designation, of any Lender as a Defaulting Lender.
The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon
reasonable prior notice.


 




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(d)          Participations.
Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations
to any Person (other than a natural person, or a holding company, investment vehicle or trust for, or owned and operated for the
primary benefit of a natural Person, a Defaulting Lender or the Borrower or any of the Borrower’s Affiliates or Subsidiaries)
(each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement
(including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations
and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this Agreement shall
remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations and (iii) the Borrower, the Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely
and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance
of doubt, each Lender shall be responsible for the indemnity under Section 10.04(c) without regard to the existence of any
participation.


 


Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement
or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or
other modification described in the first proviso to Section 10.01 that affects such Participant. Subject to subsection
(e) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04
and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b)
of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08
as though it were a Lender, provided such Participant agrees to be subject to Section 2.13 as though it were a Lender.
Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a register on
which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s
interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided
that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of
any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its
other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that
such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States
Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall
treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this
Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as
Administrative Agent) shall have no responsibility for maintaining a Participant Register.


 


(e)          Limitations
upon Participant Rights. A Participant shall not be entitled to receive any greater payment under Section 3.01 or 3.04
than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless
the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would
be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the Borrower is
notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply
with Section 3.01(e) as though it were a Lender.


 




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(f)          Certain
Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement
(including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations
to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.


 


(g)          Resignation
as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding anything to the contrary contained herein, if at any time
Bank of America assigns all of its Commitment and Loans pursuant to subsection (b) above, Bank of America may, (i) upon 30 days’
notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon 30 days’ notice to the Borrower, resign as
Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing Line Lender, the Borrower shall be entitled to appoint
from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure
by the Borrower to appoint any such successor shall affect the resignation of Bank of America as L/C Issuer or Swing Line Lender,
as the case may be. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of
the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer
and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Committed Loans or fund
risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). If Bank of America resigns as Swing Line Lender,
it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and
outstanding as of the effective date of such resignation, including the right to require the Lenders to make Eurodollar Rate Committed
Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the appointment of a
successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the successor L/C Issuer shall
issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other
arrangements reasonably satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to
such Letters of Credit.


 




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10.07    Treatment
of Certain Information; Confidentiality. Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain
the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to
its and its Affiliates’ respective partners, directors, officers, employees, agents, trustees, advisors and representatives
(it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information
and instructed to keep such Information confidential), who have a reasonable business need to know such information, (b) to the
extent requested by any regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority,
such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by
any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder
or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement
of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section,
to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under
this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.15(c) or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and its obligations, (g) on a confidential
basis to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other
market identifiers with respect to the credit facilities provided hereunder, (h) with the consent of the Borrower or (i) to the
extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available
to the Administrative Agent, any Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a
source other than the Borrower. In addition, the Administrative Agent and the Lenders may disclose the existence of this Agreement
and information about this Agreement to market data collectors, similar service providers to the lending industry and service providers
to the Agents and the Lenders in connection with the administration of this Agreement, the other Loan Documents, and the Commitments.
For purposes of this Section, “Information” means all information received from the Borrower or any Subsidiary relating
to the Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to the
Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary,
provided that, in the case of information received from the Borrower or any Subsidiary after the date hereof, such information
is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information
as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the
same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.


 


Each of the Administrative
Agent, the Lenders and the L/C Issuer acknowledges that (a) the Information may include material non-public information concerning
the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public
information and (c) it will handle such material non-public information in accordance with applicable Law, including United States
Federal and state securities Laws.


 


10.08    Right
of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their respective
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off
and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held
and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the
credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this
Agreement or any other Loan Document to such Lender or the L/C Issuer, irrespective of whether or not such Lender or the L/C Issuer
shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower may be
contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer different from the branch or office
holding such deposit or obligated on such indebtedness; provided, that in the event that any Defaulting Lender shall exercise any
such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application
in accordance with the provisions of Section 2.17 and, pending such payment, shall be segregated by such Defaulting Lender
from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting
Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to
such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the L/C Issuer and their respective
Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender,
the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Borrower and the Administrative
Agent promptly after any such setoff and application, provided that the failure to give such notice shall not affect the
validity of such setoff and application.


 




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


 


10.10    Counterparts;
Integration; Effectiveness.  This Agreement may be executed in counterparts (and by different parties hereto in different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement
and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede
any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided
in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and
when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of
the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic
imaging means shall be effective as delivery of a manually executed counterpart of this Agreement.


 


10.11    Survival
of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document or other
document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof
and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender,
regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall
continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any
Letter of Credit shall remain outstanding.


 




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10.12    Severability.
If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality,
validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or
impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable
provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction. Without limiting the foregoing provisions of this Section 10.12, if and to the extent that the
enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined
in good faith by the Administrative Agent, the L/C Issuer or the Swing Line Lender, as applicable, then such provisions shall be
deemed to be in effect only to the extent not so limited.


 


10.13    Replacement
of Lenders. 


 


(a)          If
(i) any Lender requests compensation under Section 3.04, (ii) the Borrower is required to pay any additional amount to any
Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, (iii) any Lender is a Defaulting
Lender, or (iv) any Lender fails to approve any amendment, waiver or consent requested by the Borrower pursuant to Section
10.01 that has received the written approval of not less than the Required Lenders but also requires the approval of such Lender,
then the Borrower may elect, by delivering written notice to such Lender and the Administrative Agent, to either replace such Lender
at its sole expense and effort in accordance with subsection (b) below or, solely in the case of clauses (i), (ii)
or (iv) above, terminate all of the Commitments of such Lender in accordance with subsection (c) below.


 


(b)          If
the Borrower elects to replace a Lender in accordance with subsection (a) above, such Lender shall be required to assign
and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section
10.06), within 10 Business Days after receipt by such Lender of the Borrower’s written notice of such election, all of
its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee identified by the Borrower
that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided
that:


 


(i)          the
Borrower shall have paid to the Administrative Agent the assignment fee specified in Section 10.06(b);


 


(ii)         such
Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans and L/C Advances, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any
amounts under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and fees)
or the Borrower (in the case of all other amounts);


 


(iii)        in
the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments required to be made
pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter;


 




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(iv)        in
the case of any such assignment resulting from the refusal of a Lender to approve a requested amendment, waiver or consent, the
Person to whom such assignment is being made has agreed to approve such amendment, waiver or consent; and


 


(v)         such
assignment does not conflict with applicable Laws;


 


A Lender shall not
be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply


 


(c)          If
the Borrower elects to terminate the Commitments of a Lender in accordance with subsection (a)(i), (ii) or (iv) above, all
of the Commitments of such Lender shall be terminated immediately (with the Aggregate Commitments reduced in a like amount on a
non-pro rata basis) upon the later of (i) the date of the receipt by the Administrative Agent and such Lender of the Borrower’s
written notice of such election and (ii) the date that the Borrower has repaid all outstanding principal of its Loans and L/C Advances
of such Lender, together with accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the
other Loan Documents (including any amounts under Section 3.05) (which payments may be applied to the Loans, interest, fees
and other obligations of such Lender on a non-pro rata basis with payments made to the other Lenders, notwithstanding the provisions
of Section 2.13 to the contrary); provided, that the Borrower may not terminate the Commitments of a Lender pursuant
to this subsection (c) if, after giving effect to such termination and the repayment of Loans of such Lender required hereby,
the Total Outstandings minus the amount of any Cash Collateral that the Borrower has provided to secure outstanding L/C
Obligations prior to or concurrently with such termination would exceed the Advance Limit.


 


10.14    Governing
Law; Jurisdiction; Etc.


 


(a)          GOVERNING
LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF GEORGIA.


 


(b)          SUBMISSION
TO JURISDICTION. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION
OF THE COURTS OF THE STATE OF GEORGIA SITTING IN FULTON COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE NORTHERN DISTRICT
OF GEORGIA, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY
AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH GEORGIA STATE COURT OR,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT
IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY
OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE
AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT AGAINST THE BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.


 




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(c)          WAIVER
OF VENUE. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION
THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION
OR PROCEEDING IN ANY SUCH COURT.


 


(d)          SERVICE
OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02.
NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE
LAW.


 


10.15    Waiver
of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT,
TORT OR ANY OTHER THEORY). This waiver of right to trial by jury is separately giveN, knowingly and voluntarily by the undersigned,
and this waiver is intended to encompass individually each instance and each issue as to which the right to trial by jury would
otherwise accrue. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER
LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.
Each party is hereby authorized and requested to submit this Agreement to any court in the state of Georgia having jurisdiction
over the subject matter and the parties hereto, so as to serve as conclusive evidence of the undersigned’s waiver of the
right to trial by jury.


 




    	-118-



     


    

 


10.16    No
Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including in
connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and
agrees, and acknowledges its Affiliates’ understanding, that: (i) (A) the arranging and other services regarding this Agreement
provided by the Administrative Agent and the Arrangers, are arm’s-length commercial transactions between the Borrower and
its Affiliates, on the one hand, and the Administrative Agent and the Arrangers, on the other hand, (B) the Borrower has consulted
its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the Borrower is capable
of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the
other Loan Documents; (ii) (A) the Administrative Agent and the Arrangers each is and has been acting solely as a principal and,
except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent
or fiduciary for the Borrower or any of its Affiliates, or any other Person and (B) neither the Administrative Agent nor any Arranger
has any obligation to the Borrower or any of its Affiliates with respect to the transactions contemplated hereby except those obligations
expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent and the Arrangers and their respective
Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower and its
Affiliates, and neither the Administrative Agent nor any Arranger has any obligation to disclose any of such interests to the Borrower
or its Affiliates. To the fullest extent permitted by law, the Borrower hereby waives and releases any claims that it may have
against the Administrative Agent and the Arrangers with respect to any breach or alleged breach of agency or fiduciary duty in
connection with any aspect of any transaction contemplated hereby.


 


10.17    Electronic
Execution of Assignments and Certain Other Documents. The words “execute,” “execution,” “signed,”
“signature,” and words of like import in or related to any document to be signed in connection with this Agreement
and the transactions contemplated hereby (including without limitation Assignment and Assumptions, amendments or other modifications,
Committed Loan Notices, Swingline Loan Notices, any Assignment and Assumption or in any amendment or other modification hereof
(including waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms
and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form,
each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic
Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar
state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to
the contrary the Administrative Agent is under no obligation to agree to accept electronic signatures in any form or in any format
unless expressly agreed to by the Administrative Agent pursuant to procedures reasonably approved by it.


 


10.18    USA
PATRIOT Act. Each Lender that is subject to the PATRIOT Act (as hereinafter defined) and the Administrative Agent (for itself
and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III
of Pub. L. 107-56 (signed into law October 26, 2001)) (the “PATRIOT Act”), it is required to obtain, verify
and record information that identifies the Borrower, which information includes the name and address of the Borrower and other
information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with
the PATRIOT Act. The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation
and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under
applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act.


 




    	-119-



     


    

 


10.19    ENTIRE
AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED
BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG
THE PARTIES.


 


10.20    Keepwell.
The Borrower, at the time the liability of any Specified Loan Party (or the Guarantee or the grant of a Lien under the Loan Documents,
in each case, by any Specified Loan Party), becomes effective with respect to any Hedging Obligation and to the extent the Borrower
is a Qualified ECP Loan Party at such time, hereby absolutely, unconditionally and irrevocably undertakes to provide such funds
or other support to each Specified Loan Party with respect to such Hedging Obligation as may be needed by such Specified Loan Party
from time to time to honor all of its obligations under the Loan Documents in respect of such Hedging Obligation (but, in each
case, only up to the maximum amount of such liability that can be hereby incurred without rendering the Borrower’s obligations
and undertakings under this Section 10.20 voidable under applicable law relating to fraudulent conveyance or fraudulent
transfer, and not for any greater amount). The obligations and undertakings of the Borrower under this Section shall remain in
full force and effect until the Obligations have been indefeasibly paid and performed in full. The Borrower intends this Section
to constitute, and this Section shall be deemed to constitute, a guarantee of the obligations of, and a “keepwell, support
or other agreement” for the benefit of, each Specified Loan Party for all purposes of the Commodity Exchange Act.


 


10.21    Acknowledgement
and Consent to Bail-In of EEA Financial Institutions. Solely to the extent any Lender or L/C Issuer that is an EEA Financial
Institution is a party to this Agreement and notwithstanding anything to the contrary in any Loan Document or in any other agreement,
arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender or L/C Issuer
that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject
to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees
to be bound by:


 


(a)          the
application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which
may be payable to it by any Lender or L/C Issuer that is an EEA Financial Institution; and


 


(b)          the
effects of any Bail-In Action on any such liability, including, if applicable:


 


(i)          a
reduction in full or in part or cancellation of any such liability;


 




    	-120-



     


    

 


(ii)         a
conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution,
its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or
other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement
or any other Loan Document; or


 


(iii)        the
variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution
Authority.


 


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


 


(i)          such
Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of
ERISA) of one or more Benefit Plans in connection with the Loans, the Letters of Credit or the Commitments,


 


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


 


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


 


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


 




    	-121-



     


    

 


(b)          In
addition, unless sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or such Lender has not
provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a),
such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants,
from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit
of, the Administrative Agent and each Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for
the benefit of the Borrower or any other Loan Party, that:


 


(i)          none
of the Administrative Agent or any Arranger or any of their respective Affiliates is a fiduciary with respect to the assets of
such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement,
any Loan Document or any documents related to hereto or thereto), and


 


(ii)          no
fee or other compensation is being paid directly to the Administrative Agent or any Arranger or any their respective Affiliates
for investment advice (as opposed to other services) in connection with the Loans, the Letters of Credit, the Commitments or this
Agreement.


 


(c)          The
Administrative Agent and each Arranger hereby informs the Lenders that each such Person is not undertaking to provide impartial
investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that
such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof (i) may
receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments and this Agreement, (ii) may
recognize a gain if it extended the Loans, the Letters of Credit or the Commitments for an amount less than the amount being paid
for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other payments
in connection with the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment
fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral
agent fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees,
amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or
fees similar to the foregoing.


 


[Signature Pages Removed
for Purposes of Amendment No. 4]


 




    	-122-



     


    

 


SCHEDULE
2.01


 


(Amended
with Amendment No. 4)


 


COMMITMENTS

AND APPLICABLE PERCENTAGES


 


	Lender	 	Commitment	 	 	Applicable
 Percentage	 
	Bank of America, N.A.	 	$	25,862,068.96	 	 	 	20.689655168	%
	SunTrust Bank	 	$	25,862,068.96	 	 	 	20.689655168	%
	PNC Bank, National Association	 	$	25,862,068.96	 	 	 	20.689655168	%
	Branch Banking & Trust Company	 	$	17,241,379.32	 	 	 	13.793103456	%
	Wells Fargo Bank, National Association	 	$	17,241,379.32	 	 	 	13.793103456	%
	First Commercial Bank, a division of Synovus Bank	 	$	12,931,034.48	 	 	 	10.344827584	%
	Total	 	$	125,000,000.00	 	 	 	100.000000000	%



 


Schedule 2.01 to Amendment No. 4 to Credit
Agreement


 




     


     


    

 


EXHIBIT D


 


(Amended with Amendment
No. 4)


 


form
of COMPLIANCE CERTIFICATE


 


Financial Statement Date:
_______,


 


		To:	Bank of America, N.A., as Administrative Agent



 


Ladies and
Gentlemen:


 


Reference is made to
that certain Credit Agreement, dated as of August 31, 2010 (as amended, restated, extended, supplemented or otherwise modified
in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined),
among RPC, Inc., a Delaware corporation (the “Borrower”), the Lenders from time to time party thereto, and Bank
of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender.


 


The undersigned Responsible
Officer hereby certifies as of the date hereof that he/she is the Chief Financial Officer of the Borrower, and that, as such, he/she
is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Borrower, and that:


 


[Use following paragraph
1 for fiscal year-end financial statements]


 


1.            The
Borrower has delivered the year-end audited financial statements required by Section 6.01(a) of the Agreement for the fiscal
year of the Borrower ended as of the above date, together with the report and opinion of an independent certified public accountant
required by such section.


 


[Use following paragraph 1 for fiscal
quarter-end financial statements]


 


1.            The
Borrower has delivered the unaudited financial statements required by Section 6.01(b) of the Agreement for the fiscal quarter
of the Borrower ended as of the above date. Such financial statements fairly present the financial condition, results of operations
and cash flows of the Borrower and its Subsidiaries in accordance with GAAP as at such date and for such period, subject only to
normal year-end audit adjustments and the absence of footnotes.


 


2.            The
undersigned has reviewed and is familiar with the terms of the Agreement and has made, or has caused to be made under his/her supervision,
a detailed review of the transactions and condition (financial or otherwise) of the Borrower during the accounting period covered
by such financial statements.


 


3.           A
review of the activities of the Borrower during such fiscal period has been made under the supervision of the undersigned with
a view to determining whether during such fiscal period the Borrower performed and observed all its Obligations under the Loan
Documents, and


 


Exhibit D to Amendment No. 4 to Credit Agreement


 




     


     


    

 


[select
one:]


 


[to the best knowledge
of the undersigned, during such fiscal period the Borrower performed and observed each covenant and condition of the Loan Documents
applicable to it, and no Default has occurred and is continuing.]


 


—or—


 


[to the best knowledge
of the undersigned, during such fiscal period the following covenants or conditions have not been performed or observed and the
following is a list of each such Default and its nature and status:]


 


4.            The
representations and warranties of the Borrower contained in Article V of the Agreement, and any representations and warranties
of the Borrower that are contained in any document furnished at any time under or in connection with the Loan Documents, are true
and correct on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an
earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Compliance
Certificate, the representations and warranties contained in Section 5.04 of the Agreement shall be deemed to refer to the
most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Agreement, including
the statements in connection with which this Compliance Certificate is delivered.


 


5.            The
financial covenant analyses and information set forth on Schedule 1 attached hereto are true and accurate on and as of the
date of this Certificate.


 


(Signature page
follows)


 


Exhibit D to Amendment No. 4 to Credit Agreement


 




     


     


    

 


IN WITNESS WHEREOF,
the undersigned has executed this Certificate as of                                  ,
              .


 


	 	RPC, INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 


 


Exhibit D to Amendment No. 4 to Credit Agreement


 




     


     


    

 


For the Quarter/Year ended ___________________(“Statement
Date”)


 


SCHEDULE 1


to the Compliance Certificate


($ in 000’s)


 


		I.	Section 7.15 (a) – Consolidated Leverage Ratio. 



 


(Tested
at any time during a Consolidated EBITDA < $50 Million Non-Test Period)


 


	 	A.	Consolidated Total Debt at Statement Date:	$___________
	 	 	 	 
	 	B.	Consolidated EBITDA for four consecutive fiscal quarters ending on above date (“Subject Period”):	 


 


	 	1.	Consolidated Net Income for Subject Period:	$___________
	 	 	 	 
	 	2.	Consolidated Interest Expense for Subject Period:	$___________
	 	 	 	 
	 	3.	Income taxes expenses for Subject Period:	$___________
	 	 	 	 
	 	4.	Depreciation expenses for Subject Period:	$___________
	 	 	 	 
	 	5.	Amortization expenses for Subject Period:	$___________
	 	 	 	 
	 	6.	Other non-cash charges:	$___________
	 	 	 	 
	 	7.	Consolidated EBITDA (Lines I.B.1 + 2 + 3 + 4 + 5 + 6):	$___________


 


	 	C.	Consolidated Leverage Ratio (Line I.A  ̧ Line I.B.7):	_________ to 1
	 	 	 	 
	 	 	Maximum permitted:	2.5 to 1.0


 


	II.	Section 7.15 (b) – Consolidated Debt Service Coverage Ratio.
	 	 
	 	(Tested at any time during a Consolidated EBITDA < $50 Million Non-Test Period)


 


	 	A.	Consolidated EBITDA for Subject Period (Line I.B.7 above):	$___________
	 	 	 	 
	 	B.	All scheduled payments of principal on funded Indebtedness of the Borrower and its Subsidiaries permitted by Section 7.01(b) or Section 7.01(f) of the Credit Agreement paid or required to be paid during the Subject Period (other than payments in an amount in excess of 25% of the original amount of such Indebtedness which constitute the maturity balance of such Indebtedness):	$___________
	 	 	 	 
	 	C.	Consolidated Interest Expense for Subject Period:	$___________
	 	 	 	 
	 	D.	Consolidated Interest Coverage Ratio (Line II.A  ̧	 
	 	 	(Line II.B + Line II.C)):	_________ to 1
	 	 	 	 
	 	 	Minimum required:	2.0 to 1.0


 


Exhibit D to Amendment No. 4 to Credit Agreement


 




     


     


    

 


	III.	Section 7.15 (c) – Consolidated Tangible Net Worth. 
	 	 
	 	(Tested at any time during a Consolidated EBITDA < $50 Million Test Period)


 


	 	A.	Shareholders’ Equity of the Borrower and its Subsidiaries at Statement Date:	$___________
	 	 	 	 
	 	B.	Intangible Assets of the Borrower and its Subsidiaries at Statement Date:	$___________
	 	 	 	 
	 	C.	Consolidated Tangible Net Worth (Line III.A - Line III.B)):	$___________
	 	 	 	 
	 	 	Minimum required:	$600,000,000


 


Exhibit D to Amendment No. 4 to Credit Agreement