Exhibit 10.1


 


EXECUTION VERSION


 





	 	CUSIP: 929159AW1
	 	CUSIP: 929159AX9 (Revolver)
	 	CUSIP: 929159AY7 (DDTL)







 


CREDIT AGREEMENT


 


dated
as of December 21, 2016,


 


among


 


VULCAN MATERIALS COMPANY,

as the Borrower,


 


The
GUARANTORS FROM TIME TO TIME PARTY HERETO,


 


The
LENDERS FROM TIME TO TIME PARTY HERETO,


 


SUNTRUST BANK,

as the Administrative Agent,


 


with


 


SUNTRUST ROBINSON
HUMPHREY, INC.,

as Left Lead Arranger and Bookrunner,


 


and


 


WELLS
FARGO SECURITIES, LLC,

as Joint Lead Arranger and Bookrunner,


 


and


 


U.S.
BANK NATIONAL ASSOCIATION,


as
Joint Lead Arranger and Bookrunner and Co-Syndication Agent,


 


and


 


WELLS
FARGO BANK, NATIONAL ASSOCIATION,


as
Co-Syndication Agent,


 


and


 


BANK
OF AMERICA, N.A.,


as
Co-Documentation Agent,


 


and


 


REGIONS
BANK,


as
Co-Documentation Agent


 




     


     


    

 


Table
of Contents


 


	 	 	Page
	 	 	 
	ARTICLE 1	DEFINITIONS, ACCOUNTING PRINCIPLES AND OTHER INTERPRETIVE MATTERS	1
	 	 	 
	Section 1.1	Definitions	1
	 	 	 
	Section 1.2	Uniform Commercial Code	24
	 	 	 
	Section 1.3	Accounting Principles	24
	 	 	 
	Section 1.4	Other Interpretive Matters	25
	 	 	 
	ARTICLE 2	THE LOANS AND THE LETTERS OF CREDIT	25
	 	 	 
	Section 2.1	Revolving Loans, Swing Loans and DDTL Loans	25
	 	 	 
	Section 2.2	Letters of Credit	26
	 	 	 
	Section 2.3	Manner of Borrowing and Disbursement of Loans	30
	 	 	 
	Section 2.4	Interest	33
	 	 	 
	Section 2.5	Fees	34
	 	 	 
	Section 2.6	Prepayment/Cancellation of Commitments	35
	 	 	 
	Section 2.7	Repayment	36
	 	 	 
	Section 2.8	Notes; Loan Accounts	37
	 	 	 
	Section 2.9	Manner of Payment	38
	 	 	 
	Section 2.10	Reimbursement	42
	 	 	 
	Section 2.11	Pro Rata Treatment	42
	 	 	 
	Section 2.12	Application of Payments	43
	 	 	 
	Section 2.13	All Obligations to Constitute One Obligation	44
	 	 	 
	Section 2.14	Maximum Rate of Interest	44
	 	 	 
	Section 2.15	Defaulting Lenders	45
	 	 	 
	Section 2.16	Extension of Maturity Date	48
	 	 	 
	Section 2.17	Incremental Revolving Loan Commitment	51
	 	 	 
	ARTICLE 3	GUARANTY	52
	 	 	 
	Section 3.1	Guaranty	52
	 	 	 
	Section 3.2	Special Provisions Applicable to New Guarantors	55
	 	 	 
	ARTICLE 4	CONDITIONS PRECEDENT	56
	 	 	 
	Section 4.1	Conditions Precedent to Initial Loan	56
	 	 	 
	Section 4.2	Conditions Precedent to Each Loan and Issuance of a Letter of Credit	58


 




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Table
of Contents


(continued)


 


	 	 	Page
	 	 	 
	ARTICLE 5	REPRESENTATIONS AND WARRANTIES	59
	 	 	 
	Section 5.1	General Representations and Warranties	59
	 	 	 
	Section 5.2	Survival of Representations and Warranties, etc	63
	 	 	 
	ARTICLE 6	INFORMATION AND GENERAL COVENANTS	63
	 	 	 
	Section 6.1	Quarterly Financial Statements and Information	63
	 	 	 
	Section 6.2	Annual Financial Statements and Information	63
	 	 	 
	Section 6.3	Compliance Certificates	64
	 	 	 
	Section 6.4	Additional Reports	64
	 	 	 
	Section 6.5	Preservation of Existence and Similar Matters	65
	 	 	 
	Section 6.6	Compliance with Applicable Law	65
	 	 	 
	Section 6.7	Maintenance of Properties	65
	 	 	 
	Section 6.8	Accounting Methods and Financial Records	65
	 	 	 
	Section 6.9	Insurance	65
	 	 	 
	Section 6.10	Guarantors	66
	 	 	 
	Section 6.11	Payment of Taxes and Claims	66
	 	 	 
	Section 6.12	Visits and Inspections	66
	 	 	 
	Section 6.13	Further Assurances	67
	 	 	 
	Section 6.14	Indemnity; Limitation on Damages	67
	 	 	 
	Section 6.15	Environmental Matters	67
	 	 	 
	Section 6.16	Anti-Corruption Laws; Sanctions	68
	 	 	 
	ARTICLE 7	NEGATIVE COVENANTS	68
	 	 	 
	Section 7.1	Liens	68
	 	 	 
	Section 7.2	Investments	68
	 	 	 
	Section 7.3	Affiliate Transactions	69
	 	 	 
	Section 7.4	Mergers and Consolidations; Sale of Substantially all Assets; Conduct of Business; Acquisitions	69
	 	 	 
	Section 7.5	Amendment and Waiver	70
	 	 	 
	Section 7.6	Restrictive Agreements	70
	 	 	 
	Section 7.7	Use of Proceeds	70
	 	 	 
	Section 7.8	Accounting Changes	70


 




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Table
of Contents


(continued)


 


	 	 	Page
	 	 	 
	Section 7.9	Government Regulation	70
	 	 	 
	Section 7.10	Financial Covenants	70
	 	 	 
	ARTICLE 8	DEFAULT	71
	 	 	 
	Section 8.1	Events of Default	71
	 	 	 
	Section 8.2	Remedies	72
	 	 	 
	ARTICLE 9	THE ADMINISTRATIVE AGENT	73
	 	 	 
	Section 9.1	Appointment of the Administrative Agent	73
	 	 	 
	Section 9.2	Nature of Duties of the Administrative Agent	74
	 	 	 
	Section 9.3	Lack of Reliance on the Administrative Agent	74
	 	 	 
	Section 9.4	Certain Rights of the Administrative Agent	75
	 	 	 
	Section 9.5	Reliance by the Administrative Agent	75
	 	 	 
	Section 9.6	The Administrative Agent in its Individual Capacity	75
	 	 	 
	Section 9.7	Successor Administrative Agent	75
	 	 	 
	Section 9.8	Withholding Tax	76
	 	 	 
	Section 9.9	The Administrative Agent May File Proofs of Claim	76
	 	 	 
	Section 9.10	Indemnification	77
	 	 	 
	Section 9.11	Authorization to Execute Other Loan Documents	77
	 	 	 
	Section 9.12	Guaranty Matters	77
	 	 	 
	Section 9.13	Syndication Agents	78
	 	 	 
	Section 9.14	Right to Enforce Guarantee	78
	 	 	 
	Section 9.15	Bank Products Obligations	78
	 	 	 
	ARTICLE 10	MISCELLANEOUS	78
	 	 	 
	Section 10.1	Notices	78
	 	 	 
	Section 10.2	Expenses	80
	 	 	 
	Section 10.3	Waivers	81
	 	 	 
	Section 10.4	Set-Off	81
	 	 	 
	Section 10.5	Assignment	82
	 	 	 
	Section 10.6	Counterparts	84
	 	 	 
	Section 10.7	Under Seal; Governing Law	84
	 	 	 
	Section 10.8	Severability	84


 




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Table
of Contents


(continued)


 


	 	 	Page
	 	 	 
	Section 10.9	Headings	84
	 	 	 
	Section 10.10	Source of Funds	84
	 	 	 
	Section 10.11	Entire Agreement	85
	 	 	 
	Section 10.12	Amendments and Waivers	85
	 	 	 
	Section 10.13	Other Relationships	86
	 	 	 
	Section 10.14	Pronouns	86
	 	 	 
	Section 10.15	Disclosure	87
	 	 	 
	Section 10.16	Replacement of Lender	87
	 	 	 
	Section 10.17	Confidentiality; Material Non-Public Information	87
	 	 	 
	Section 10.18	Revival and Reinstatement of Obligations	88
	 	 	 
	Section 10.19	Contribution Obligations	88
	 	 	 
	Section 10.20	No Advisory or Fiduciary Responsibility	89
	 	 	 
	Section 10.21	Qualified ECP Keepwell	89
	 	 	 
	Section 10.22	Patriot Act	90
	 	 	 
	Section 10.23	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	90
	 	 	 
	ARTICLE 11	YIELD PROTECTION	90
	 	 	 
	Section 11.1	Eurodollar Rate Basis Determination	90
	 	 	 
	Section 11.2	Illegality	91
	 	 	 
	Section 11.3	Increased Costs	91
	 	 	 
	Section 11.4	Effect On Other Loans	92
	 	 	 
	Section 11.5	Capital Adequacy	92
	 	 	 
	ARTICLE 12	JURISDICTION, VENUE AND WAIVER OF JURY TRIAL	93
	 	 	 
	Section 12.1	Jurisdiction and Service of Process	93
	 	 	 
	Section 12.2	Consent to Venue	93
	 	 	 
	Section 12.3	Waiver of Jury Trial	94
	 	 	 
	Section 12.4	Flood Provisions	94


 




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Table
of Contents


(continued)


 


	EXHIBITS	 	 
	 	 	 
	Exhibit A	-	Form of Administrative Questionnaire
	Exhibit B	-	Form of Assignment and Acceptance
	Exhibit C	-	Form of Compliance Certificate
	Exhibit D	-	Form of Notice of Conversion/Continuation
	Exhibit E 	-	Form of Request for Loan
	Exhibit F	-	Form of Request for Letter of Credit
	Exhibit G	-	Form of Revolving Loan Note
	Exhibit H	-	Form of DDTL Loan Note
	Exhibit I	-	Form of Joinder Supplement


 




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Table
of Contents


(continued)


 


	SCHEDULES	 
	 	 
	Annex I	Pricing Grid
	Schedule 1.1(a)	Commitment Percentages
	Schedule 1.1(b)	Permitted Liens
	Schedule 1.1(c)	Existing Letters of Credit 
	Schedule 5.1(c)-1	Subsidiaries
	Schedule 5.1(c)-2	Guarantors
	Schedule 5.1(l)	ERISA
	Schedule 5.1(t)	Environmental Matters
	Schedule 7.2	Permitted Investments


 




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CREDIT AGREEMENT


 


THIS CREDIT AGREEMENT (this
“Agreement”) dated as of December 21, 2016, is by and among VULCAN MATERIALS COMPANY, a New Jersey corporation
(the “Borrower”), the Persons party hereto from time to time as Guarantors, the financial institutions party
hereto from time to time as Lenders, SUNTRUST BANK, as an Issuing Bank, and SUNTRUST BANK, as the Administrative Agent, with SUNTRUST
ROBINSON HUMPHREY, INC., as Left Lead Arranger and Bookrunner, WELLS FARGO SECURITIES, LLC, as a Joint Lead Arranger and Bookrunner,
U.S. BANK NATIONAL ASSOCIATION, as a Joint Lead Arranger and Bookrunner and a Co-Syndication Agent, WELLS FARGO BANK, NATIONAL
ASSOCIATION, as a Co-Syndication Agent, BANK OF AMERICA, N.A., as a Co-Documentation Agent, and REGIONS BANK, as a Co-Documentation
Agent.


 


WITNESSETH:


 


WHEREAS, the Borrower has
requested that the Administrative Agent, the Issuing Bank and the Lenders make available to it the Commitments, Loans, and other
financial accommodations set forth herein on the terms and conditions set forth herein; and  


 


WHEREAS, the Administrative
Agent, the Issuing Bank and the Lenders are willing to make the requested Commitments, Loans and other financial accommodations
available to the Borrower upon the terms and conditions set forth herein.


 


NOW, THEREFORE, in consideration
of the premises and the covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto hereby agree as follows:


 


ARTICLE
1



DEFINITIONS, ACCOUNTING PRINCIPLES AND

OTHER INTERPRETIVE MATTERS


 


Section 1.1           Definitions.  For
the purposes of this Agreement:


 


“2007 Indenture”
shall mean that certain Senior Debt Indenture dated as of December 11, 2007, by and among the Borrower and Wilmington Trust Company,
a corporation duly organized and existing under the laws of the State of Delaware, as initial trustee (succeeded by Regions Bank,
an Alabama banking corporation), supplemented by that certain First Supplemental Indenture, dated as of December 11, 2007, that
certain Second Supplemental Indenture, dated as of June 20, 2008, that certain Third Supplemental Indenture dated as of February
3, 2009, that certain Fourth Supplemental Indenture dated as of June 14, 2011, and that certain Fifth Supplemental Indenture dated
as of March 30, 2015.  


 


“Account Debtor”
shall mean any Person who is obligated to make payments in respect of an Account.


 


“Accounts”
shall mean all “accounts,” as such term is defined in the UCC, of each Credit Party whether now existing or hereafter
created or arising.


 


“Acquisition Consideration”
shall mean the total consideration paid or payable (including, without limitation, any earn-out obligations and all Indebtedness
assumed) with respect to an Acquisition.  


 




     


     


    

 


“Acquisition”
shall mean (whether by purchase, exchange, merger or any other method) any acquisition of (a) any other Person, which Person shall
then become consolidated with the Borrower or any Subsidiary of the Borrower, (b) all or substantially all of the assets of any
other Person, or (c) assets that constitute a division or operating unit of any Person.


 


“Administrative
Agent” shall mean SunTrust Bank, acting as administrative agent for the Lender Group, and any successor Administrative
Agent appointed pursuant to Section 9.7.


 


“Administrative
Agent Indemnified Person” shall have the meaning specified in Section 9.10.


 


“Administrative
Agent’s Office” shall mean the office of the Administrative Agent located at 303 Peachtree Street, 23rd
Floor, Atlanta, Georgia 30308, Attention: Portfolio Manager, or such other office as may be designated by the Administrative Agent
pursuant to the provisions of Section 10.1.


 


“Administrative
Questionnaire” shall mean a questionnaire substantially in the form of Exhibit A.


 


“Affiliate”
shall mean, with respect to any Person, any other Person that, directly or indirectly, is in control of, is controlled by, or is
under common control with such Person, or that is a director, officer, manager or partner of such Person.  For purposes
of this definition, “control”, when used with respect to any Person, includes, without limitation, the direct or indirect
beneficial ownership of ten percent (10%) or more of the outstanding Equity Interests of such Person or the power to direct or
cause the direction of the management and policies of such Person whether by contract or otherwise.


 


“Aggregate Revolving
Credit Obligations” shall mean, as of any particular time, the sum of (a) all Revolving Loans, (b) all Swing Loans, and
(c) all Letter of Credit Obligations.


 


“Aggregates”
shall mean all stone, sand, gravel, limestone and similar minerals.


 


“Agreement”
shall mean this Credit Agreement, together with all Exhibits and Schedules hereto in each case, as amended, restated, supplemented,
or otherwise modified from time to time.


 


“Anti-Corruption
Laws” shall mean all laws, rules, and regulations of any jurisdiction applicable to any Credit Party or any Subsidiary
of a Credit Party from time to time concerning or relating to bribery or corruption.


 


“Applicable Law”
shall mean, in respect of any Person, all provisions of constitutions, statutes, rules, regulations, and orders of Governmental
Authorities applicable, whether by law or by virtue of contract, to such Person, and all orders and decrees of all courts and arbitrators
in proceedings or actions to which the Person in question is a party or by which it is bound.


 


“Applicable Margin”
shall mean, with respect to Base Rate Loans, Eurodollar Loans, the Commitment Fee and the Ticking Fee, the percentages designated
in the “Pricing Grid” attached hereto as Annex I, based on the Borrower’s Ratings.  


 


The Applicable Margin shall
be based on the higher of the two highest Ratings so long as such two Ratings are within one level of each other; if such two Ratings
differ by more than one level, the Applicable Margin shall be based on the Rating that is one level lower than the highest Rating.  If
only one Rating Agency is providing a Rating, the Applicable Margin shall be determined by such Rating.  Each change
in the Applicable Margin resulting from a change in any Rating shall be effective as of the second Business Day following the date
on which it is first announced by the applicable Rating Agency.


 




    	 	2	 



     


    

 


If (i) all of the Rating
Agencies shall cease to be in the business of rating corporate debt obligations or (ii) the Administrative Agent or the Borrower
reasonably requests due to a material change in the rating system of a Rating Agency that is then providing a Rating, the Borrower,
the Administrative Agent and the Lenders shall negotiate in good faith to amend this definition and, pending the effectiveness
of any such amendment, the Applicable Margin shall be determined by reference to the Rating(s) most recently in effect prior to
such cessation or change.


 


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


 


“Assignment and
Acceptance” shall mean an Assignment and Acceptance entered into by a Lender and an Eligible Assignee, and accepted by
the Administrative Agent, in substantially the form of Exhibit B, or any other form approved by the Administrative Agent.


 


“Authorized Signatory”
shall mean, with respect to any Credit Party, such senior personnel of such Credit Party as may be duly authorized and designated
in writing to the Administrative Agent by such Credit Party to execute documents, agreements, and instruments on behalf of such
Credit Party.


 


“Availability
Period” means the period from the Closing Date through the earliest of (a) the Revolving Loan Maturity Date and (b) the
date of expiration or termination of the Revolving Loan Commitments.


 


“Available DDTL
Commitment” shall mean, as of any date, the amount by which (a) the DDTL Commitment exceeds (b) all DDTL Loans.


 


“Bail-In Action”
shall mean 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”
shall mean, 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 Products”
shall mean all banking, financial, and other similar or related products and services extended to any Credit Party by any Bank
Products Provider (other than Revolving Loans, DDTL Loans, Swing Loans and Letters of Credit), including, without limitation, (a)
merchant card services, credit or stored value cards, debit cards, and corporate purchasing cards; (b) cash management services
and treasury management services, including, without limitation, remote deposit, electronic funds transfer, e-payable, stop payment,
account reconciliation, lockbox, depository and checking, overdraft and related liabilities, information reporting, deposit accounts,
securities accounts, controlled disbursement, and wire transfer; (c) bankers’ acceptances, drafts, letters of credit and
foreign currency exchange; and (d) Hedge Transactions.


 


“Bank Products
Documents” shall mean all instruments, agreements and other documents entered into from time to time by the Credit Parties
in connection with any of the Bank Products.  


 


“Bank Products
Obligations” shall mean all obligations, fees, or expenses owing by any Credit Party to any Bank Products Provider pursuant
to or evidenced by a Bank Products Document and irrespective of whether for the payment of money, whether direct or indirect, absolute
or contingent, due or to become due, now existing or hereafter arising.


 




    	 	3	 



     


    

 


“Bank Products
Provider” shall mean any Person that, at the time it provides any Bank Products to any Credit Party, is a Lender or an
Affiliate of a Lender.  In no event shall any Bank Products Provider acting in such capacity be deemed a Lender to the
extent of and as to Bank Products except that each reference to the term “Lender” in Article 9 shall be deemed to include
such Bank Products Provider.  


 


“Bankruptcy Code”
shall mean the United States Bankruptcy Code (11 U.S.C. § 101 et seq.), as now or hereafter amended, and any successor statute.


 


“Base Rate”
shall mean the highest rate, determined on a daily basis (any changes in such rates to be effective as of the date of such changes)
of (a) the Administrative Agent’s per annum “prime lending rate”, (b) the Federal Funds Rate plus one-half of
one percent (0.50%) per annum and (c) the Eurodollar Rate for a Eurodollar Loan Period of one (1) month (or if such day is not
a Business Day, the immediately preceding Business Day) plus one percent (1.00%) per annum; provided that if the Eurodollar
Rate is unavailable and Base Rate determined in accordance with the foregoing would otherwise be less than zero percent (0.00%),
such rate shall be deemed to be zero percent (0.00%) for purposes of this Agreement.  The Administrative Agent’s
“prime lending rate” is a reference rate and does not necessarily represent the lowest or best rate actually charged
to any customer. The Administrative Agent may make loans at rates of interest at, above, or below the Administrative Agent’s
“prime lending rate”. Each change in the Administrative Agent’s “prime lending rate” shall be effective
from and including the date such change is publicly announced as being effective.


 


“Base Rate Loan”
shall mean a Loan that bears interest determined by reference to the Base Rate.


 


“Borrower”
shall have the meaning specified in the preamble.


 


“Business Day”
shall mean any day excluding Saturday, Sunday and any day which is a legal holiday under the laws of the State of Georgia or the
State of New York or is a day on which banking institutions located in such state are closed; provided, however,
that when used with reference to a Eurodollar Loan (including the making, continuing, prepaying or repaying of any Eurodollar Loan),
the term “Business Day” shall also exclude any day in which banks are not open for dealings in deposits of Dollars
on the London interbank market.


 


“Cash Collateralize”
shall mean, in respect of any obligations, to provide and pledge (as a first priority perfected security interest) cash collateral
for such obligations in Dollars, with the Administrative Agent pursuant to documentation in form and substance reasonably satisfactory
to the Administrative Agent (and “Cash Collateralization” has a corresponding meaning).


 


“Cash Equivalents”
shall mean short-term investments made in conformity with the Borrower’s investment policies delivered to the Administrative
Agent on or prior to the Closing Date, with such changes thereto as the board of directors of the Borrower (or any designee to
whom such approval right may have been delegated by such board of directors) may approve from time to time.


 


“CFC”
shall mean (a) each Person that is a “controlled foreign corporation” for purposes of the Code, (b) each subsidiary
of any such controlled foreign corporation and (c) any Foreign Subsidiary which is an entity disregarded as separate from its owner
under Treasury Regulation 301.7701-3.  


 




    	 	4	 



     


    

 


“Change in Control”
shall mean the occurrence of one or more of the following events:  (a) any “person” or “group”
(within the meaning of Sections 13(d) and 14(d) of the SEA), becomes the beneficial owner (as defined in Rule 13d-3 under the SEA),
directly or indirectly, of 30%, or more, of the Equity Interests of the Borrower having the right to vote for the election of members
of the board of directors of the Borrower; (b) as of any date a majority of the board of directors of the Borrower consists (other
than vacant seats) of individuals who were not either (i) directors of the Borrower as of the Closing Date, (ii) selected, nominated
or approved to become directors by the board of directors of the Borrower of which a majority consisted of individuals described
in clause (i), or (iii) selected or nominated to become directors by the board of directors of the Borrower of which a majority
consisted of individuals described in clause (i) and individuals described in clause (ii), or (c) any “change of control”
occurs under any document evidencing any Indebtedness of any Credit Party with an outstanding principal amount in excess of $100,000,000,
other than any “change of control” resulting from any “dead hand proxy put” provision.


 


“Change in Law”
shall mean the occurrence, after the Closing Date or, in the case of an assignee of a Lender or a Person that becomes a Lender
pursuant to Section 2.16 or 2.17 (a “New Lender”), after the date on which such assignee or New Lender becomes
a party to this Agreement and, in the case of a Participant, after the date on which it acquires its participation, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation
or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (c) the making or issuance
of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided
that notwithstanding anything herein to the contrary, to the extent not prohibited by Applicable Law, (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”
shall mean December 21, 2016.


 


“Code”
shall mean the Internal Revenue Code of 1986, as amended from time to time.


 


“Commercial Letter
of Credit” shall mean a documentary Letter of Credit issued by the Issuing Bank in respect of the purchase of goods or
services by the Borrower or a Subsidiary in the ordinary course of its business.


 


“Commitment Fee”
shall have the meaning specified in Section 2.5(b).


 


“Commitment Percentage”
shall mean, with respect to each Lender, the percentage equivalent of the ratio which such Lender’s portion of the Commitments
bears to the Commitments (as each may be adjusted from time to time as provided herein); provided that, if the Commitments
have terminated or expired, the Commitment Percentages shall be determined based upon the Commitments most recently in effect,
giving effect to any assignments.  As of the Closing Date, the Commitment Percentage of each Lender is as set forth (together
with Dollar amount thereof) on Schedule 1.1(a).


 


“Commitments”
shall mean, collectively, the Revolving Loan Commitment, which includes the Letter of Credit Commitment, and the DDTL Commitment.


 


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


 


“Compliance Certificate”
shall mean a certificate executed by the chief financial officer or treasurer of the Borrower as required by Section 6.3 substantially
in the form of Exhibit C.


 




    	 	5	 



     


    

 


“Consolidated
Net Tangible Assets” shall mean, with respect to the Borrower and its Subsidiaries on a consolidated basis as of the
last day of the most recent fiscal quarter for which financial statements have been delivered pursuant to Section 6.1 or 6.2, (a)
the book value of all assets minus (b) (i) the book value of all goodwill, trade names, trademarks, patents, unamortized
debt discount and expense and other like intangibles and (ii) all current liabilities.


 


“Credit Parties”
shall mean, collectively, the Borrower and the Guarantors; and “Credit Party” shall mean any one of the Credit
Parties.


 


“Date of Issue”
shall mean the date on which the Issuing Bank issues a Letter of Credit pursuant to Section 2.2 and, subject to the terms of Section
2.2(a), the date on which any such Letter of Credit is renewed.


 


“DDTL Commitment”
shall mean, as of any date of determination, the several obligations of the Lenders to make advances to the Borrower, in accordance
with their respective DDTL Commitment Percentages.  As of the Closing Date, the DDTL Commitment is $250,000,000. 


 


“DDTL Commitment
Percentage” shall mean, with respect to each Lender, the percentage equivalent of the ratio which such Lender’s
portion of the DDTL Commitment bears to the DDTL Commitment (as each may be adjusted from time to time as provided herein); provided,
that if the DDTL Commitment has terminated or expired, the DDTL Commitment Percentages shall be determined based upon the DDTL
Commitment most recently in effect, giving effect to any assignments.  As of the Closing Date, the DDTL Commitment Percentage
of each Lender is as set forth (together with Dollar amount thereof) on Schedule 1.1(a).


 


“DDTL Commitment
Termination Date” shall mean June 21, 2017.


 


“DDTL Extension
Effective Date” shall have the meaning set forth in Section 2.16(b).


 


“DDTL Extension
Request Date” shall have the meaning set forth in Section 2.16(b).


 


“DDTL Loan Notes”
shall mean, collectively, those certain promissory notes, dated as of the Closing Date, issued to each of the Lenders with a DDTL
Commitment who requests such a promissory note by the Borrower, and any other promissory note issued by the Borrower to evidence
the DDTL Loans pursuant to this Agreement, each substantially in the form of Exhibit H attached hereto, and any extensions,
renewals, or amendments to, or replacements of, the foregoing.


 


“DDTL Loans”
shall mean, collectively, the amounts advanced by the Lenders to the Borrower under the DDTL Commitment.


 


“DDTL Maturity
Date” shall mean the earlier to occur of (a) December 21, 2021, or with respect to a Lender, such later date to which
such Lender has agreed pursuant to Section 2.16(b) and (b) such earlier date as payment in full of the DDTL Loans shall be due
(whether by acceleration or otherwise).


 


“Declining DDTL
Lender” shall have the meaning set forth in Section 2.16(b).


 


“Declining Revolving
Loan Lender” shall have the meaning set forth in Section 2.16(a).


 


“Default”
shall mean an event, condition or default which, with the giving of notice, the passage of time or both would become an Event of
Default.


 




    	 	6	 



     


    

 


“Default Rate”
shall mean a simple per annum interest rate equal to, with respect to all outstanding Obligations, the sum of (a) the applicable
Interest Rate Basis, if any, with respect to the applicable Obligation, plus (b) the Applicable Margin for such Interest Rate Basis,
plus (c) two percent (2.00%); provided, however, that (i) as to any Eurodollar Loan outstanding on the date that
the Default Rate becomes applicable, the Default Rate shall be based on the then applicable Eurodollar Basis until the end of the
current Eurodollar Loan Period and thereafter the Default Rate shall be based on the Base Rate as in effect from time to time,
and (ii) as to any Base Rate Loan outstanding on the date that the Default Rate becomes applicable, the Default Rate shall be based
on the Base Rate as in effect from time to time.


 


“Defaulting Lender”
shall mean, subject to Section 2.15, any Lender that (a) has failed to (i) fund all or any portion of the Loans within two (2)
Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent
and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent
to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such
writing) has not been satisfied, or (ii) pay to the Administrative Agent, the Issuing Bank, the Swing Bank or any other Lender
any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit and Swing
Loans) within two (2) Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent or the Issuing
Bank or Swing Bank in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement
to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and
states that such position is based on such Lender’s determination that a condition precedent to funding (which condition
precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be
satisfied), (c) has failed, within three (3) Business Days after written request by the Administrative Agent or the Borrower, to
confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder
(provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written
confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, at
any time after the Closing Date, (i) become the subject of a proceeding under the Bankruptcy Code or any other bankruptcy law,
(ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or
similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation
or any other state or federal regulatory authority acting in such a capacity or (iii) become the subject of a Bail-In Action; provided
that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that
Lender or any direct or indirect parent company thereof by a governmental entity 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 entity) to reject, repudiate, disavow or disaffirm
any contracts or agreements made with such Lender.  Any determination by the Administrative Agent and the Borrower that
a Lender is a Defaulting Lender under clauses (a) through (d) above shall be conclusive and binding absent manifest error, and
such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.15) upon delivery by the Administrative Agent of written
notice of such determination to the Borrower, the Issuing Bank, the Swing Bank and each Lender.


 


“Disqualified
Equity Interests” shall mean, with respect to any Person, any Equity Interest that by its terms (or by the terms of any
other Equity Interest into which it is convertible or exchangeable) or otherwise (a) matures (other than as a result of a voluntary
redemption or repurchase by the issuer of such Equity Interest) or is subject to mandatory redemption or repurchase (other than
solely for Equity Interests that are not Disqualified Equity Interests) pursuant to a sinking fund obligation or otherwise, including
at the option of the holder thereof (except as a result of a change of control or asset sale so long as any rights of the holder
thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior payment in full of the Obligations
(other than any Obligations which expressly survive termination) and termination of the Commitments); or (b) is convertible into
or exchangeable or exercisable for Indebtedness or any Disqualified Equity Interest at the option of the holder thereof, in each
case specified in (a) or (b) above on or prior to the date that is one hundred twenty (120) days after the Maturity Date; or (c)
provides for mandatory payments of dividends to be made in cash.


 




    	 	7	 



     


    

 


“Dollars”
or “$” shall mean the lawful currency of the United States of America.


 


“Domestic Subsidiary”
shall mean any direct or indirect Subsidiary of any Credit Party that is organized and existing under the laws of the US or any
state or commonwealth thereof or under the laws of the District of Columbia.


 


“EBITDA”
shall mean, as determined for any period on a consolidated basis for the Borrower and its Subsidiaries, an amount equal to the
sum of (a) net income plus (b) to the extent deducted in determining net income, and without duplication, the sum of (i)
any non-recurring losses/charges (including, without limitation, those related to the modification or extinguishment of debt),
(ii) Interest Expense and non-cash interest expense, (iii) income tax expense (but not benefit), and (iv) depreciation, depletion,
accretion and amortization expense minus (c) to the extent added in determining net income, (i) any non-recurring gains
and (ii) income tax benefit.  


 


Notwithstanding the foregoing,
(a) EBITDA shall exclude any equity interest in the losses or unremitted earnings of any person that is not a Subsidiary, and (b)
the maximum amount of non-recurring cash losses and/or charges that may be added to EBITDA shall not exceed ten percent (10%) of
EBITDA (determined without giving effect to the addition of any non-recurring cash losses/charges in the calculation thereof).


 


“EEA Financial
Institution” shall mean (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”
shall mean any of the member states of the European Union, Iceland, Liechtenstein, and Norway.


 


“EEA Resolution
Authority” shall mean 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 Assignee”
shall mean (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved Fund; or (d) any other Person approved by (i) the Administrative
Agent, (ii) with respect to any proposed assignee of all or any portion of the Revolving Loan Commitments, the Issuing Bank and
(iii) unless an Event of Default exists, the Borrower, such approvals not to be unreasonably withheld or delayed; provided,
however, that if the consent of the Borrower is required hereunder (including a consent to an assignment which does not
meet the minimum assignment thresholds specified in Section 10.5(b)), the Borrower shall be deemed to have given its consent five
(5) Business Days after the date notice thereof has been delivered by the assigning Lender (through the Administrative Agent) unless
such consent is expressly refused by the Borrower prior to such fifth Business Day; provided, further, that in no event shall an
“Eligible Assignee” include (A) any of the Credit Parties, any of their Subsidiaries or any of their Affiliates, (B)
any Defaulting Lender, or (C) a natural Person (or a holding company, investment vehicle or trust for, or owned and operated for
the primary benefit of, a natural Person).


 




    	 	8	 



     


    

 


“Environmental
Laws” shall mean, collectively, any and all applicable Federal, state, local or municipal laws, rules, orders, regulations,
statutes, ordinances, codes, decrees or requirements of any Governmental Authority regulating, relating to or imposing liability
or standards of conduct or requirements concerning environmental protection matters, including without limitation, Hazardous Materials
and their effects on human health, as now or may at any time during the term of this Agreement be in effect, including, without
limitation, the Clean Air Act, 42 U.S.C. Section 7401 et seq.; the Clean Water Act, 33 U.S.C. Section 1251 et seq. and the Water
Quality Act of 1987; the Federal Insecticide, Fungicide, and Rodenticide Act, 7 U.S.C. Section 136 et seq.; the Marine Protection,
Research and Sanctuaries Act, 33 U.S.C. Section 1401 et seq.; the National Environmental Policy Act, 42 U.S.C. Section 4321 et
seq.; the Noise Control Act, 42 U.S.C. Section 4901 et seq.; those portions of the Occupational Safety and Health Act, 29 U.S.C.
Section 651 et seq. concerning Hazardous Materials exposure; the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901
et seq., as amended by the Hazardous and Solid Waste Amendments of 1984; the Safe Drinking Water Act, 42 U.S.C. Section 300f et
seq.; the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. Section 9601 et seq., as amended by the
Superfund Amendments and Reauthorization Act, the Emergency Planning and Community Right to Know Act (“CERCLA”), the
Hazardous Materials Transportation Act, 49 U.S.C. Section 5101 et seq., and Radon Gas and Indoor Air Quality Research Act; the
Toxic Substances Control Act, 15 U.S.C. Section 2601 et seq.; the Atomic Energy Act, 42 U.S.C. Section 2011 et seq., and the Nuclear
Waste Policy Act of 1982, 42 U.S.C. Section 10101 et seq.


 


“Environmental
or Mining Permit” shall mean any permit, license, approval, consent or other authorization by or from a Governmental
Authority required for surface or subsurface mining, quarrying, dredging, drilling and similar or related operations and activities,
or reclamation or otherwise required under Environmental Laws or Mining Laws.


 


“Equity Interests”
shall mean, as applied to any Person, any capital stock, membership interests, partnership interests or other equity interests
of such Person, regardless of class or designation, and all warrants, options, purchase rights, conversion or exchange rights,
voting rights, calls or claims of any character  (including, without limitation, “put” rights) with respect
thereto.


 


“ERISA”
shall mean the Employee Retirement Income Security Act of 1974, as in effect on the Closing Date and as such Act may be amended
thereafter from time to time.


 


“ERISA Affiliate”
shall mean, with respect to any Credit Party, any trade or business (whether or not incorporated) that together with such Credit
Party, are treated as a single employer under Section 414 of the Code.


 


“ERISA Event”
shall mean, with respect to any Credit Party or any ERISA Affiliate, (i) the imposition of a Lien by the PBGC under Section 4068
of ERISA against any Credit Party or any ERISA Affiliate; (ii) the failure of any Credit Party or any ERISA Affiliate to pay when
due any amount which it shall have become liable to pay to the PBGC, to a Title IV Plan under Title IV of ERISA or to a Multiemployer
Plan; (iii) the filing of a notice of intent to terminate a Title IV Plan or a Multiemployer Plan under Sections 4041 or 4041A
of ERISA;  or (iv) the occurrence of an event or condition which constitutes grounds under Section 4042 of ERISA for
the termination of, or the appointment of a trustee to administer, any Title IV Plan or Multiemployer Plan.


 


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


 




    	 	9	 



     


    

 


“Eurodollar Basis”
shall mean, with respect to each Eurodollar Loan Period, a simple per annum interest rate equal to the quotient of (a) the Eurodollar
Rate divided by (b) one (1) minus the Eurodollar Reserve Percentage, stated as a decimal.  The Eurodollar Basis shall
remain unchanged during the applicable Eurodollar Loan Period, except for changes to reflect adjustments in the Eurodollar Reserve
Percentage.


 


“Eurodollar Loan”
shall mean a Loan that bears interest determined by reference to the Eurodollar Rate (other than pursuant to clause (c) of the
definition of “Base Rate”).


 


“Eurodollar Loan
Period” shall mean, for each Eurodollar Loan, each one (1), two (2), three (3), six (6) month period, or to the extent
agreed by each Lender of such Eurodollar Loan, nine (9) or twelve (12) month period, as selected by the Borrower pursuant to Section
2.3, during which the applicable Eurodollar Rate (but not the Applicable Margin) shall remain unchanged.  Notwithstanding
the foregoing, however, (a) any applicable Eurodollar Loan Period which would otherwise end on a day which is not a Business Day
shall be extended to the next succeeding Business Day, unless such Business Day falls in another calendar month, in which case
such Eurodollar Loan Period shall end on the next preceding Business Day; (b) any applicable Eurodollar Loan Period which begins
on a day for which there is no numerically corresponding day in the calendar month during which such Eurodollar Loan Period is
to end shall (subject to clause (i) above) end on the last day of such calendar month; and (c) no Eurodollar Loan Period shall
extend beyond the Maturity Date or such earlier date as would interfere with the repayment obligations of the Borrower under Section
2.7.


 


“Eurodollar Rate”
shall mean, with respect to any Eurodollar Loan for any Eurodollar Loan Period, the rate per annum determined by the Administrative
Agent at approximately 11:00 a.m. (London time) on the date that is two (2) Business Days prior to the commencement of such Eurodollar
Loan Period by reference to the ICE Benchmark Administration (or any successor thereto) Interest Settlement Rates for deposits
in Dollars (as set forth by any service selected by the Administrative Agent that has been nominated by the ICE Benchmark Administration
(or any successor thereto) as an authorized information vendor for the purpose of displaying such rates) for a period equal to
such Eurodollar Loan Period; provided that (x) to the extent that an interest rate is not ascertainable pursuant to the
foregoing provisions of this definition, the “Eurodollar Rate” shall be the interest rate per annum determined by the
Administrative Agent to be the average of the rates per annum at which deposits in Dollars are offered for such relevant Eurodollar
Loan Period to major banks in the London interbank market in London, England by the Administrative Agent at approximately 11:00
a.m. (London time) on the date that is two (2) Business Days prior to the beginning of such Eurodollar Loan Period, and (y) if
the interest rate for any Eurodollar Loan determined pursuant to this definition is less than zero, then the Eurodollar Rate for
such Eurodollar Loan shall be deemed to equal zero.


 


“Eurodollar Reserve
Percentage” shall mean the aggregate of the maximum reserve percentages (including, without limitation, any emergency,
supplemental, special or other marginal reserves) expressed as a decimal (rounded upwards to the next one one-hundredth of one
percent (1/100th of 1%)) in effect on any day to which the Administrative Agent is subject with respect to the Eurodollar Basis,
pursuant to regulations issued by the Board of Governors of the Federal Reserve System (or any Governmental Authority succeeding
to any of its principal functions) (“Regulation D”) with respect to Eurocurrency Liabilities (as that term is
defined in Regulation D).  Eurodollar Loans shall be deemed to constitute Eurocurrency Liabilities and to be subject
to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time
to time to the Administrative Agent under Regulation D.  The Eurodollar Reserve Percentage shall be adjusted automatically
on and as of the effective date of any change in any reserve percentage.  The Eurodollar Basis for any Eurodollar Loan
shall be adjusted as of the effective date of any changes in the Eurodollar Reserve Percentage.


 


“Event of Default”
shall mean any of the events specified in Section 8.1.


 




    	 	10	 



     


    

 


“Excluded Hedge
Obligation” shall mean, with respect to any Credit Party, any Hedge Obligation if, and to the extent that, all or a portion
of any Guaranty by such Credit Party of such Hedge Obligation (or any Guaranty thereof) is or becomes illegal under the Commodity
Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation
thereof) by virtue of such Credit Party’s failure for any reason to constitute an “eligible contract participant”
as defined in the Commodity Exchange Act and the regulations thereunder at the time the Guaranty by such Credit Party becomes effective
with respect to such Hedge Obligation.  If a Hedge Obligation arises under a master agreement governing more than one
swap, such exclusion shall apply only to the portion of such Hedge Obligation that is attributable to swaps for which such Guaranty
is or becomes illegal.


 


“Excluded Subsidiary”
shall mean (a) any Subsidiary that is not a wholly-owned Subsidiary of the Borrower, (b) (i) any Subsidiary that is a CFC and (ii)
any Domestic Subsidiary whose only material assets consist of Equity Interests of a CFC or CFCs, (c) any Subsidiary that is prohibited
by Applicable Law from guaranteeing the Obligations, (d) any Subsidiary that is prohibited by any contractual obligation existing
on the Closing Date or on the date such Subsidiary is acquired (but not entered into in contemplation of such Acquisition) from
guaranteeing the Obligations, and (e) any other Subsidiary excused from becoming a Credit Party pursuant to the last paragraph
of this definition; provided that (i) any Subsidiary shall cease to be an Excluded Subsidiary at such time as none of clauses
(a) through (e) above apply to it and (ii) no Subsidiary that is a co-borrower, or guarantor or other co-obligor of any Indebtedness
for borrowed money incurred by a Credit Party shall constitute an Excluded Subsidiary (unless the provision by such Subsidiary
of a Guaranty of the Obligations would reasonably be expected to result in material adverse tax consequences to the Borrower and
the Subsidiaries, including any potential Section 956 impact).


 


Notwithstanding the foregoing
provisions of this definition or anything in this Agreement or any other Loan Document to the contrary, the Administrative Agent
shall not require the provision of a Guaranty by any Subsidiary, if, and for so long as the Administrative Agent and the Borrower
reasonably agree in writing that the cost of providing such Guaranty (including, without limitation, any adverse tax consequences
to the Borrower and the Subsidiaries, including any potential Section 956 impact), shall be excessive in view of the benefits to
be obtained by the Lenders of the Guaranty, as applicable, to be afforded thereby.


 


“Excluded Taxes”
shall mean any of the following taxes imposed on or with respect to a 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 applicable lending office located in, the jurisdiction imposing such tax (or any political subdivision
thereof) or (ii) that are Other Connection Taxes, (b) taxes described in Section 2.9(b)(vii), (c) taxes attributable to such recipient’s
failure to comply with Section 2.9(b)(vi) and (d) any U.S. federal withholding taxes imposed under FATCA.


 


“Existing Letters
of Credit” shall mean the letters of credit issued and outstanding under the Prior Credit Agreement as set forth on Schedule
1.1(c).


 


“Extending DDTL
Lender” shall have the meaning set forth in Section 2.16(b).


 


“Extending Revolving
Loan Lender” shall have the meaning set forth in Section 2.16(a).


 


“FATCA”
shall mean 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 and any agreement entered into pursuant to Section 1471(b)(1) of the Code.


 




    	 	11	 



     


    

 


“Federal Funds
Rate” shall mean, for any day, the rate set forth in the weekly statistical release designated as H.15(519), or any successor
publication, published by the Federal Reserve Bank of New York (including any such successor, “H.15(519)”) on the preceding
Business Day opposite the caption “Federal Funds (Effective)”; or, if for any relevant day such rate is not so published
on any such preceding Business Day, the rate for such day will be the arithmetic mean as determined by the Administrative Agent
of the rates for the last transaction in overnight Federal funds arranged prior to 12:00 noon (Atlanta, Georgia time) on that day
by each of three (3) leading brokers of Federal funds transactions in New York, New York selected by the Administrative Agent;
provided that if the Federal Funds Rate determined in accordance with the foregoing would otherwise be less than zero percent
(0.00%), such rate shall be deemed to be zero percent (0.00%) for purposes of this Agreement.


 


“Financial Covenants”
shall mean the financial covenants set forth in Section 7.10.


 


“Fitch”
shall mean Fitch, Inc., or any successor thereto.


 


“Flood Insurance
Laws” shall mean, collectively, (a) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor
statute thereto, (b) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statute thereto,
(c) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto and (d) the
Flood Insurance Reform Act of 2004 as now or hereafter in effect of any successor statute thereto, in each case, together with
all statutory and regulatory provisions consolidating, amending, replacing, supplementing, implementing  or interpreting
any of the foregoing, as amended or modified from time to time.


 


“Foreign Lender”
shall have the meaning specified in Section 2.9(b)(vi).


 


“Foreign Plan”
shall mean any employee benefit plan maintained or contributed to by any Credit Party or any Subsidiary of a Credit Party that
provides pension benefits to employees employed outside the United States.


 


“Foreign Subsidiary”
shall mean any Subsidiary that is not a Domestic Subsidiary.


 


“Fronting Exposure”
means, at any time there is a Defaulting Lender, (a) with respect to any Issuing Bank, such Defaulting Lender’s Revolving
Commitment Percentage of the outstanding Letter of Credit Obligations other than Letter of Credit Obligations with respect to Letters
of Credit issued by such Issuing Bank 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 Bank, such Defaulting
Lender’s Revolving Commitment Percentage of outstanding Swing Loans other than Swing Loans as to which such Defaulting Lender’s
participation obligation has been reallocated to other Lenders.


 


“Fund”
shall mean any Person that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions
of credit in the ordinary course of its business.


 


“GAAP”
shall mean generally accepted accounting principles and practices in effect from time to time.


 




    	 	12	 



     


    

 


“Governmental
Authority” shall mean any nation or government, any state or other political subdivision thereof and any entity exercising
executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government.


 


“Guarantors”
shall mean, collectively, each Subsidiary (other than an Excluded Subsidiary) of the Borrower required by, or that elects under,
Section 6.10 to guarantee the Obligations and deliver a Joinder Supplement including, without limitation, each Subsidiary of the
Borrower that is not an Excluded Subsidiary that is a party to this Agreement as a Guarantor on the Closing Date.  


 


“Guaranty”
or “guaranteed,” as applied to an obligation (a “primary obligation”), shall mean (a) any guaranty,
direct or indirect, in any manner, of any part or all of such primary obligation, and (b) any agreement, direct or indirect, contingent
or otherwise, the practical effect of which is to assure in any way the payment or performance (or payment of damages in the event
of non-performance) of any part or all of such primary obligation, including, without limiting the foregoing, any obligation of
any Person, whether or not contingent, (i) to purchase any such primary obligation or any property or asset constituting direct
or indirect security therefor, (ii) to advance or supply funds (A) for the purchase or payment of such primary obligation or (B)
to maintain working capital, equity capital or the net worth, cash flow, solvency or other balance sheet or income statement condition
of any other Person, (iii) to purchase property, assets, securities or services primarily for the purpose of assuring the owner
or holder of any primary obligation of the ability of the primary obligor with respect to such primary obligation to make payment
thereof or (iv) otherwise to assure or hold harmless the owner or holder of such primary obligation against loss in respect thereof.  All
references in this Agreement to “this Guaranty” shall be to the Guaranty provided for pursuant to the terms of Article
3.  The amount of any Guaranty shall be the maximum amount for which the guarantor may be liable pursuant to the terms
of such Guaranty instrument; and if such amounts are not determinable, the maximum reasonably anticipated liability in respect
thereof, as determined by such guarantor in good faith.


 


“Hazardous Materials”
shall mean any hazardous materials, hazardous wastes, hazardous constituents, hazardous or toxic substances, petroleum products
(including crude oil or any fraction thereof), and friable asbestos containing materials defined or regulated as such in or under
any Environmental Law.


 


“Hedge Obligations”
shall mean any and all obligations or liabilities, whether absolute or contingent, due or to become due, of any Credit Party in
respect of Hedge Transactions entered into with one or more of the Bank Products Providers.


 


“Hedge Transaction”
shall mean any transaction entered into between any Credit Party and any other Person which provides for an interest rate, credit
or equity swap, cap, floor, collar, forward currency transaction, currency swap, cross currency rate swap, currency option, commodity
hedges or any combination of, or option with respect to, these or similar transactions.


 


“Immaterial Subsidiary”
shall mean any Subsidiary of the Borrower whose assets constitute less than one percent (1%) of Consolidated Net Tangible Assets;
provided that no Subsidiary that is a co-borrower, guarantor or other co-obligor of any Indebtedness for borrowed
money incurred by a Credit Party shall constitute an Immaterial Subsidiary.


 


“Increase Notice”
shall have the meaning specified in Section 2.17(a).


 


“Increase Effective
Date” shall have the meaning specified in Section 2.17(d).


 




    	 	13	 



     


    

 


“Indebtedness”
of any Person shall mean, without duplication, (a) any obligation for borrowed money, including, without limitation, the Obligations,
(b) any obligation evidenced by bonds, debentures, notes or other similar instruments, (c) any obligation in respect of the deferred
purchase price of property or services (other than trade payables incurred in the ordinary course of business on terms customary
in the trade), (d) any obligation under any conditional sale or other title retention agreement(s) relating to property acquired,
(e) any capitalized lease obligations, (f) any obligation in respect of drawn letters of credit, acceptances, or similar extensions
of credit which have not been reimbursed and surety bonds (including, without limitation, reclamation bonds) for which a claim
has been paid by the applicable surety and reimbursement of such claim remains outstanding, (g) any Guaranty of the type of indebtedness
described in clauses (a) through (f) above, (h) 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, (i) any obligations, contingent or otherwise, to purchase,
redeem, retire or otherwise acquire for value any Disqualified Equity Interests, (j) any off-balance sheet obligation created,
in lieu of borrowing money, through asset securitization programs, synthetic leases, or other similar transactions, and (k) any
obligation under any Hedge Transaction (calculated as the amount of net payments such Person would have to make if an early termination
thereof occurred on the date the Indebtedness of such Person was being determined); provided, however, that, notwithstanding
anything in GAAP to the contrary, the amount of all obligations shall be the full face amount of such obligations, except with
respect to the obligations in clause (k), which shall be calculated in the manner set forth in clause (k).


 


“Indemnified Person”
shall mean each Administrative Agent Indemnified Person, each member of the Lender Group, each Affiliate thereof, each of their
respective employees, representatives, officers, members, partners, directors, agents, consultants, counsel, accountants, and advisors,
and each of their respective successors and assigns.


 


“Indemnified Taxes”
shall have the meaning set forth in Section 2.9(b).


 


“Intellectual
Property” shall mean all intellectual and similar Property including (a) inventions, designs, patents, patent applications,
copyrights, trademarks, service marks, trade names, trade secrets, confidential or proprietary information, customer lists, know-how,
software, and databases; (b) all embodiments or fixations thereof and all related documentation, applications, registrations, and
franchises; (c) all licenses or other rights to use any of the foregoing; and (d) all books and records relating to the foregoing.


 


“Interest Coverage
Ratio” shall mean the ratio, for the four (4) consecutive fiscal quarters most recently ended, of (a) EBITDA to (b) Interest
Expense.


 


“Interest Expense”
shall mean, as determined for any period on a consolidated basis for the Borrower and its Subsidiaries, net cash interest expense
plus (i) capitalized interest and (ii) Letter of Credit fees.


 


“Interest Rate
Basis” shall mean the Base Rate or the Eurodollar Basis, as applicable.


 


“Investment”
shall mean, with respect to any Person, (i) Cash Equivalents, (ii) any loan, advance or extension of credit to, or any Guaranty
with respect to the Indebtedness or other obligations of, any other Person (other than intercompany loans, advances or extensions
of credit arising in connection with intercompany cash pooling arrangements, intercompany asset transfers, and the intercompany
provision of goods and services, in each case, in the ordinary course of business and on an arm’s-length basis), or (iii)
any purchase or other acquisition of any Equity Interests of any other Person, other than any Acquisition.  In determining
the aggregate amount of Investments outstanding at any particular time, (a) the amount of any Guaranty shall be the maximum amount
for which the guarantor may be liable pursuant to the terms of the applicable Guaranty instrument; and if such amounts are not
determinable, the maximum reasonably anticipated liability in respect thereof, as determined in good faith by the Person providing
such Guaranty, (b) there shall be deducted in respect of each such Investment any amount received as a return of principal or capital,
(c) there shall not be deducted in respect of any Investment any amounts received as earnings, whether as dividends, interest or
otherwise and (d) there shall not be deducted from or added to any Investments any decrease or increase, as the case may be, in
the market value thereof.


 




    	 	14	 



     


    

 


“Issuing Bank”
shall mean SunTrust Bank, Wells Fargo Bank, National Association, U.S. Bank National Association, Bank of America, N.A., Regions
Bank, and any other Lender designated by the Borrower and approved by the Administrative Agent that hereafter may be designated
as an Issuing Bank.  As used herein, the term “the Issuing Bank” shall mean “each Issuing Bank”
or “the applicable Issuing Bank,” or, collectively, “the Issuing Banks”, as the context may require.


 


“Joinder Supplement”
shall have the meaning specified in Section 6.10.


 


“Lead Arrangers”
shall mean SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC, and U.S. Bank National Association.


 


“Lender Group”
shall mean, collectively, the Administrative Agent, the Issuing Bank, the Swing Bank, and the Lenders and, solely as used in Article
III, any Affiliates of a Lender party to a Bank Products Document.


 


“Lenders”
shall mean those lenders whose names are set forth on the signature pages to this Agreement under the heading “Lenders”,
any Persons who hereafter become parties hereto as Lenders pursuant to Section 2.16 or 2.17 and any assignees of the Lenders who
hereafter become parties hereto pursuant to and in accordance with Section 10.5 or 10.16; and “Lender” shall mean any
one of the foregoing Lenders.


 


“Letter of Credit
Commitment” shall mean, as of any date of determination, the obligation of the Issuing Bank to issue Letters of Credit.  As
of the Closing Date, the Letter of Credit Commitment is $250,000,000.


 


“Letter of Credit
Issuance Limit” shall mean with respect to each Issuing Bank, $50,000,000 or any lesser amount to be agreed to in writing
among such Issuing Bank, the Borrower, and the Administrative Agent.


 


“Letter of Credit
Obligations” shall mean, at any time, the sum of (a) the aggregate undrawn and unexpired stated amount (including the
amount to which any such Letter of Credit can be reinstated pursuant to its terms) of the Letters of Credit, and (b) the aggregate
unreimbursed drawings of any Letters of Credit.


 


“Letter of Credit
Reserve Account” shall mean any account maintained by the Administrative Agent the proceeds of which shall be applied
as provided in Section 8.2(d).


 


“Letters of Credit”
shall mean either Standby Letters of Credit or Commercial Letters of Credit issued by the Issuing Bank from time to time in accordance
with Section 2.2 and the Existing Letters of Credit.


 




    	 	15	 



     


    

 


“Lien”
shall mean, with respect to any property, any mortgage, lien, pledge, negative pledge agreement, assignment, charge, option, security
interest, title retention agreement, levy, execution, seizure, attachment, garnishment, or other encumbrance of any kind (including
as a result of a third party’s ownership interest or other right with respect to any property that is commingled with such
property) in respect of such property, whether or not choate, vested, or perfected; provided that, anything in the Loan
Documents to the contrary notwithstanding, any encumbrance arising as a result of a VPP Purchaser’s ownership interest or
other right with respect to any property that is commingled with property of a Credit Party or Subsidiary in connection with a
VPP Transaction shall not be a Lien pursuant to this definition.


 


“Loan Documents”
shall mean this Agreement, any Revolving Loan Notes, any DDTL Loan Notes, the Joinder Supplements, all Compliance Certificates,
all Requests for Loan, all Requests for Letters of Credit, all Notices of Conversion/Continuation, all fee letters executed in
connection with this Agreement, and all other documents, instruments, certificates, and agreements executed or delivered in connection
with this Agreement (excluding any agreements other than this Agreement relating to Letters of Credit issued hereunder), all of
the foregoing, as amended, restated, supplemented or otherwise modified from time to time; provided, however, that,
notwithstanding the foregoing, none of the Bank Products Documents shall constitute Loan Documents.


 


“Loans”
shall mean, collectively, the Revolving Loans, the Swing Loans and DDTL Loans.


 


“Margin Stock”
shall have the meaning specified in Section 5.1(q).


 


“Material Contracts”
shall mean all contracts (other than the Loan Documents) to which any Credit Party is or becomes a party as to which the breach,
cancellation or failure to renew by any party thereto could reasonably be expected to have a Materially Adverse Effect.


 


“Materially Adverse
Effect” shall mean, with respect to any event, act, condition or occurrence of whatever nature, a material adverse effect
on (a) the business, financial condition, results of operations, or Properties of the Credit Parties and their Subsidiaries, taken
as a whole, (b) the ability of the Credit Parties, taken as a whole, to perform any of their obligations under any Loan Document,
or (c) the rights, remedies or benefits available to the Administrative Agent, the Issuing Bank or any Lender under any Loan Document.


 


“Maturity Date”
shall mean the Revolving Loan Maturity Date or the DDTL Maturity Date, as appropriate.


 


“Maximum Guaranteed
Amount” shall have the meaning specified in Section 3.1(g).


 


“Mining Laws”
shall mean any and all Applicable Laws governing surface or subsurface mining, quarrying, dredging, drilling and similar or related
operations and activities.


 


“MNPI”
shall have the meaning specified in Section 10.17(a).


 


“Moody’s”
shall mean Moody’s Investor Service, Inc., or any successor thereto.


 


“MSHA”
shall have the meaning specified in Section 5.1(u).


 


“Multiemployer
Plan” shall mean a “multiemployer plan” as defined in Section 4001(a)(3) of ERISA, and to which any Credit
Party or ERISA Affiliate is making, is obligated to make or has made or been obligated to make, contributions.


 




    	 	16	 



     


    

 


“Necessary Authorizations”
shall mean all authorizations, consents, permits, approvals, licenses, and exemptions from, and all filings and registrations with,
and all reports to, any Governmental Authority whether Federal, state, local, and all agencies thereof, which are required for
the incurrence or maintenance of the Obligations and the performance by the Credit Parties of their obligations under the Loan
Documents and the conduct of the businesses and the ownership (or lease) of the properties and assets of the Credit Parties, including,
without limitation, Environmental or Mining Permits.


 


“New DDTL Lender”
shall have the meaning set forth in Section 2.16(b).


 


“New Revolving
Loan Lender” shall have the meaning set forth in Section 2.16(a).


 


“Non-Defaulting
Lender” shall mean, at any time, a Lender that is not a Defaulting Lender.


 


“Notice of Conversion/Continuation”
shall mean a notice in substantially the form of Exhibit D.


 


“Obligations”
shall mean (a) all payment and performance obligations existing from time to time of the Credit Parties to the Lender Group, or
any of them, under this Agreement and the other Loan Documents (including any interest, fees and expenses that, but for the provisions
of the Bankruptcy Code, would have accrued) and (b) any Bank Products Obligations.  Anything in the foregoing to the
contrary notwithstanding, Excluded Hedge Obligations of any Credit Party shall not constitute Obligations.


 


“OFAC”
shall mean the U.S. Department of the Treasury’s Office of Foreign Assets Control.


 


“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”
shall have the meaning specified in Section 2.9(b)(ii).


 


“Participant”
shall have the meaning specified in Section 10.5.


 


“Participant Register”
has the meaning specified in Section 10.5(d).


 


“Patriot Act”
shall mean the USA PATRIOT Improvement and Reauthorization Act of 2005 (Pub. L. 109-177 (signed into law March 9, 2006)), as amended
and in effect from time to time.


 


“Payment Date”
shall mean the last day of each Eurodollar Loan Period.


 


“PBGC”
shall mean the Pension Benefit Guaranty Corporation or any entity succeeding to any or all of its functions under ERISA.


 


“Permitted Acquisition”
shall mean any Acquisition by any Credit Party so long as:


 


(a)          any
Person or assets acquired pursuant to such Acquisition shall be engaged in a line of business substantially similar, ancillary
or related to, or a reasonable extension of, the businesses conducted by the Borrower and its Subsidiaries on the Closing Date;


 


(b)          such
Acquisition was not preceded by, or consummated pursuant to, an unsolicited tender offer or proxy contest initiated by or on behalf
of any Credit Party;


 




    	 	17	 



     


    

 


(c)          the
aggregate Acquisition Consideration incurred in connection with Acquisitions of Excluded Subsidiaries after the Closing Date, together
with all Investments in Excluded Subsidiaries made after the Closing Date oustanding at any time, shall not exceed $250,000,000;
and


 


(d)          no
Default or Event of Default shall exist or result therefrom.


 


“Permitted Liens”
shall mean:


 


(a)          any
Lien in favor of the Administrative Agent or any other member of the Lender Group on cash collateral to support Letter of Credit
Obligations;


 


(b)          Liens
for taxes, assessments, judgments, governmental charges or levies, or claims not yet delinquent or the non-payment of which is
being diligently contested in good faith by appropriate proceedings and for which adequate reserves (in accordance with GAAP) have
been accrued so long as the unpaid taxes, interest and penalties secured by such Liens do not exceed $100,000,000 in the aggregate;


 


(c)          Liens
of landlords, carriers, warehousemen, mechanics, laborers, suppliers, workers, repairmen and materialmen arising by operation of
law and incurred in the ordinary course of business for sums not overdue by more than sixty (60) days or being diligently contested
in good faith by appropriate proceedings and for which adequate reserves (in accordance with GAAP) have been accrued;


 


(d)          Liens
incurred in the ordinary course of business in connection with worker’s compensation and unemployment insurance or other
types of social security benefits or retirement benefits;


 


(e)          easements,
rights-of-way, restrictions (including zoning or deed restrictions), and other similar encumbrances on the use of real property
which do not interfere in any material respect with the ordinary conduct of the business of such Person or materially impair the
value of such real property;


 


(f)          Liens
to secure the performance of bids, trade contracts, statutory or regulatory obligations, surety bonds, appeal bonds, performance
bonds, reclamation bonds, and other obligations of a like nature, incurred in the ordinary course of business which are not past
due, so long as such Liens secure obligations that in a face amount do not exceed $400,000,000 in the aggregate;


 


(g)          Liens
on assets of the Credit Parties existing as of the Closing Date which are set forth on Schedule 1.1(b);


 


(h)          Negative
pledges permitted under Section 7.6;


 


(i)          deposits
of cash or Cash Equivalents to secure bids, trade contracts, tenders, sales, leases, statutory or regulatory obligations, surety
bonds, appeal bonds, performance bonds, reclamation bonds, and other obligations of a like nature in amount not to exceed $50,000,000
in the aggregate at any time;


 


(j)          (i)
banker’s liens, rights of setoff or similar rights and remedies as to deposit accounts or other funds maintained with depository
institutions arising as a matter of law; provided that such deposit accounts or funds are not established or deposited for the
purpose of providing collateral for any Indebtedness and are not subject to restrictions on access by the Borrower or any Subsidiary
in excess of those required by applicable banking regulations and (ii) Liens of a depositary, securities intermediary or other
financial institution arising in the ordinary course of business under customary terms encumbering deposit or other funds maintained
with such financial institutions that are within the general parameters customary in the applicable industry;


 




    	 	18	 



     


    

 


(k)          Liens
arising by virtue of precautionary Uniform Commercial Code financing statement filings (or similar filings under Applicable Law)
regarding operating leases entered into in the ordinary course of business;


 


(l)          Liens
securing judgments not constituting an Event of Default under clause (i) of Section 8.1;


 


(m)          Liens
representing any interest or title of a licensor, lessor or sub licensor or sub lessor, or a licensee, lessee or sublicense or
sub lessee, in the property subject to any lease, license or sublicense or concession agreement and entered into in the ordinary
course of business;


 


(n)          Liens
securing Indebtedness that is assumed in connection with a Permitted Acquisition; provided that (i) such Indebtedness is
not created in contemplation of such Permitted Acquisition and (ii) the aggregate principal amount of such Indebtedness shall not
exceed $50,000,000 at any time;


 


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


 


(p)          Liens
not otherwise permitted by the foregoing clauses (a) through (o) securing obligations in an aggregate outstanding principal amount
not in excess of (determined at the time each such secured obligation is incurred, provided that secured obligations outstanding
on the Closing Date not justified by the foregoing clauses (a) through (o) but justified under this clause (p) shall be deemed
to be incurred as of the Closing Date) the greater of (i) 12.5% of Consolidated Net Tangible Assets or (ii) $300,000,000.


 


“Person”
shall mean an individual, corporation, partnership, trust, joint stock company, limited liability company, unincorporated organization,
other legal entity or joint venture or a government or any agency or political subdivision thereof.


 


“Plan”
shall mean an employee benefit plan within the meaning of Section 3(3) of ERISA that any Credit Party or ERISA Affiliate maintains,
contributes to or has an obligation to contribute to or has maintained, contributed to or had an obligation to contribute to at
any time within the past six (6) years.


 


“Platform”
shall mean Interlinks/Interagency, SyndTrak or another relevant website approved by the Administrative Agent.


 


“Prior Credit
Agreement” shall mean that certain Credit Agreement dated as of June 19, 2015 (as amended, restated or otherwise modified
from time to time prior to the date hereof), by and among the Borrower, each of the Persons party thereto as guarantors, the Administrative
Agent, and certain of the Lenders.


 


“Prior Loan Documents”
shall mean the “Loan Documents” as defined in the Prior Credit Agreement.


 




    	 	19	 



     


    

 


“Pro Forma Basis”
shall mean the financial calculations of the Borrower and its consolidated Subsidiaries for the four (4) fiscal quarter period
most recently ended adjusted as if any of the following transactions that occurred during such period had been consummated on the
day prior to such period (based on historical results accounted for in accordance with GAAP, adjusted for any credit for acquisition
related costs and savings to the extent expressly permitted pursuant to Article 11 of Securities and Exchange Commission Regulation
S-X):


 


(a)          Permitted
Acquisitions;


 


(b)          all
material asset dispositions other than (i) any involuntary loss, damage or destruction of assets, (ii) any condemnation, seizure
or taking of assets or other similar matters and (iii) dispositions between Credit Parties;  


 


(c)          Indebtedness
as described in clauses (a) and (b) of the definition of “Indebtedness” (other than Revolving Loans and Indebtedness
among Credit Parties) incurred or assumed; and


 


(d)          Indebtedness
as described in clauses (a) and (b) of the definition of “Indebtedness” (other than Revolving Loans and Indebtedness
among Credit Parties) that is repaid or retired (at maturity or otherwise).


 


“Property”
shall mean any real property or personal property, plant, building, facility, structure, underground storage tank or unit, equipment,
inventory or other asset owned, leased or operated by the Credit Parties or their Subsidiaries (including, without limitation,
any surface water thereon or adjacent thereto, and soil and groundwater thereunder).


 


“Qualified ECP
Guarantor” shall mean, in respect of any Hedge Obligation, each Credit Party that has total assets exceeding $10,000,000
at the time the relevant Guaranty becomes effective with respect to such Hedge Obligation or such other person as constitutes an
“eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can
cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell under
Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.


 


“Rating”
shall mean on any date, the Borrower’s corporate family ratings (or the equivalent thereof) as most recently publicly announced
by a Rating Agency.


 


“Rating Agency”
shall mean each of Moody’s, S&P and Fitch.


 


“Real Property”
shall mean any right, title or interest in and to real property, including any fee interest, leasehold interest, easement or license
and any other right to use or occupy real property, including any right arising by contract.


 


“Related Parties”
shall mean, with respect to any specified Person, such Person’s Affiliates and the respective managers, administrators, trustees,
partners, directors, officers, employees, agents, advisors, legal counsel, consultants or other representatives of such Person
and such Person’s Affiliates.


 


“Request for Letter
of Credit” shall mean any certificate signed by an Authorized Signatory of the Borrower requesting that the Issuing Bank
issue a Letter of Credit, which certificate shall be in substantially the form of Exhibit F.


 




    	 	20	 



     


    

 


“Request for Loan”
shall mean any certificate signed by an Authorized Signatory of the Borrower requesting a Loan, which certificate shall be in substantially
the form of Exhibit E.


 


“Required DDTL
Lenders” shall mean, as of any date of calculation, Lenders the sum of whose unutilized portion of the DDTL Commitment
plus DDTL Loans exceeds fifty percent (50%) of the sum of all unutilized portions of the DDTL Commitment plus all
DDTL Loans; provided that to the extent that any Lender is a Defaulting Lender, such Defaulting Lender’s DDTL Loans
and unutilized portion of the DDTL Commitment shall be excluded for purposes of determining Required DDTL Lenders.


 


“Required Lenders”
shall mean, as of any date of calculation, Lenders the sum of whose unutilized portions of the Commitments, plus Loans (other
than Swing Loans) plus participation interests in Letter of Credit Obligations and Swing Loans exceeds fifty percent (50%) of the
sum of all unutilized portions of the Commitments plus all Loans (other than Swing Loans) plus participation interests
in Letter of Credit Obligations and Swing Loans; provided that to the extent that any Lender is a Defaulting Lender, such
Defaulting Lender’s Loans and unutilized portion of the Commitments shall be excluded for purposes of determining Required
Lenders.


 


“Required Revolving
Lenders” shall mean, as of any date of calculation, Lenders the sum of whose unutilized portion of the Revolving Loan
Commitment plus Revolving Loans (other than Swing Loans) plus participation interests in Letter of Credit Obligations
and Swing Loans exceeds fifty percent (50%) of the sum of all unutilized portions of the Revolving Loan Commitment plus
all Revolving Loans (other than Swing Loan) plus participation interests in Letter of Credit Obligations and Swing Loans;
provided that to the extent that any Lender is a Defaulting Lender, such Defaulting Lender’s Revolving Loans and unutilized
portion of the Revolving Loan Commitment shall be excluded for purposes of determining Required Revolving Lenders.


 


“Responsible Officer”
shall mean each president, executive vice president, chief executive officer, chief financial officer, treasurer, secretary, general
counsel or assistant general counsel, or any Person having comparable responsibilities with respect to such offices, of the Borrower.


 


“Revolving Commitment
Percentage” shall mean, with respect to each Lender, the percentage equivalent of the ratio which such Lender’s
portion of the Revolving Loan Commitment bears to the Revolving Loan Commitment (as each may be adjusted from time to time as provided
herein); provided, that if the Revolving Loan Commitment has terminated or expired, the Revolving Commitment Percentages
shall be determined based upon the Revolving Loan Commitment most recently in effect, giving effect to any assignments.  As
of the Closing Date, the Revolving Commitment Percentage of each Lender is as set forth (together with Dollar amount thereof) on
Schedule 1.1(a).  


 


“Revolving Credit
Obligations” shall mean, with respect to any Lender at any time, the sum of such Lender’s Revolving Loans and pro
rata share (based on its Revolving Commitment Percentage) of the Letter of Credit Obligations and the Swing Loans.


 


“Revolving Loan
Commitment” shall mean, as of any date of determination, the several obligations of the Lenders to make advances to the
Borrower, in accordance with their respective Revolving Commitment Percentages.  As of the Closing Date, the Revolving
Loan Commitment is $750,000,000.


 


“Revolving Loan
Extension Effective Date” shall have the meaning set forth in Section 2.16(a).


 


“Revolving Loan
Extension Request Date” shall have the meaning set forth in Section 2.16(a).


 




    	 	21	 



     


    

 


“Revolving Loan
Maturity Date” shall mean the earlier to occur of (a) December 21, 2021 or, with respect to a Lender, such later date
to which such Lender has agreed pursuant to Section 2.16(a) and (b) such earlier date as payment of the Revolving Loans in full
shall be due (whether by acceleration or otherwise).


 


“Revolving Loan
Notes” shall mean, collectively, those certain promissory notes, dated as of the Closing Date, issued to each of the
Lenders with a Revolving Loan Commitment who requests such a promissory note by the Borrower, and any other promissory note issued
by the Borrower to evidence the Revolving Loans pursuant to this Agreement, each substantially in the form of Exhibit G
attached hereto, and any extensions, renewals, or amendments to, or replacements of, the foregoing.


 


“Revolving Loans”
shall mean, collectively, the amounts (other than Swing Loans) advanced by the Lenders to the Borrower under the Revolving Loan
Commitment.


 


“S&P”
shall mean Standard & Poor’s Ratings Group, a division of McGraw-Hill, Inc., or any successor thereto.


 


“Sanctioned Country”
shall mean, at any time, a country or territory that is, or whose government is, the subject or target of any Sanctions.


 


“Sanctioned Person”
shall mean, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by OFAC, the U.S.
Department of State, the United Nations Security Council, the European Union or any EU member state, (b) any Person located, organized
or resident in a Sanctioned Country or (c) any Person controlled by any such Person.


 


“Sanctions”
shall mean economic or financial sanctions or trade embargoes administered or enforced from time to time by (a) the U.S. government,
including those administered by OFAC or the U.S. Department of State or (b) the United Nations Security Council, the European Union
or Her Majesty’s Treasury of the United Kingdom.


 


“SEA”
shall mean the Securities and Exchange Act of 1934 and the rules promulgated thereunder by the Securities and Exchange Commission,
as amended from time to time or any similar Federal law then in force.


 


“Securities Act”
shall mean the Securities Act of 1933, as amended, or any similar Federal law then in force.


 


“Solvent”
shall mean, as to any Person, that (a) the property of such Person, at a fair valuation on a going concern basis, will exceed its
debt, (b) the capital of such Person will not be unreasonably small to conduct its business, and (c) no such Person will have incurred
debts beyond its ability to pay such debts as they mature or will have intended to incur debts beyond its ability
to pay such debts as they mature.  For purposes of this definition, “debt” shall mean any liability on a
claim, and “claim” shall mean (i) the right to payment, whether or not such right is reduced to judgment, liquidated,
unliquidated, fixed, contingent, matured, unmatured, undisputed, legal, equitable, secured or unsecured, or (ii) the right to an
equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable
remedy is reduced to judgment, fixed, contingent, matured, unmatured, undisputed, secured or unsecured.


 


“Standby Letter
of Credit” shall mean a Letter of Credit issued to support obligations of the Borrower or a Subsidiary incurred in the
ordinary course of its business, and which is not a Commercial Letter of Credit.


 




    	 	22	 



     


    

 


“Subsidiary”
shall mean, as applied to any Person, (a) any corporation of which more than fifty percent (50%) of the outstanding stock (other
than directors’ qualifying shares) having ordinary voting power to elect a majority of its board of directors, regardless
of the existence at the time of a right of the holders of any class or classes of securities of such corporation to exercise such
voting power by reason of the happening of any contingency, or any partnership or limited liability company of which more than
fifty percent (50%) of the outstanding partnership interests or membership interests, as the case may be, is at the time owned
by such Person, or by one or more Subsidiaries of such Person, or by such Person and one or more Subsidiaries of such Person, and
(b) any other entity which is controlled or capable of being controlled by such Person, or by one or more Subsidiaries of such
Person, or by such Person and one or more Subsidiaries of such Person.  For the avoidance of doubt, unless the context
otherwise requires, the term “Subsidiary” shall include all direct and indirect Subsidiaries of any Person.  Unless
otherwise indicated, all references to “Subsidiary” hereunder shall mean a Subsidiary of the Borrower.


 


“Swing Bank”
shall mean SunTrust Bank, or any other Lender who shall agree with the Administrative Agent and the Borrower to act as Swing Bank.


 


“Swing Loans”
shall mean, collectively, the amounts advanced from time to time by the Swing Bank to the Borrower under the Revolving Loan Commitment
in accordance with Section 2.3(d).


 


“Swing Rate”
shall mean, for any period, the rate per annum offered by the Swing Bank and accepted by the Borrower.  


 


“Ticking Fee”
shall have the meaning specified in Section 2.5(d).


 


“Title IV Plan”
shall mean a Plan, other than a Multiemployer Plan, that is an “employee pension benefit plan,” within the meaning
of Section 3(2) of ERISA, that is covered by Title IV of ERISA or the minimum funding standard of Section 302 of ERISA or Section
412 of the Code and is sponsored or maintained by any Credit Party or any ERISA Affiliate or to which any Credit Party or any ERISA
Affiliate contributes or has an obligation to contribute or in the case of a multiple employer or other plan described in Section
4064(a) of ERISA, has made contributions at any time during the immediately preceding five (5) plan years.


 


“Total Debt”
shall mean, as of any date, all Indebtedness of the Borrower and its Subsidiaries on a consolidated basis (excluding (a) Indebtedness
of the type described in subsection (k) of the definition thereof and (b) any intercompany Indebtedness that is consolidated in
accordance with GAAP).


 


“Total Leverage
Ratio” shall mean the ratio of (a) Total Debt as of such date to (b) EBITDA for the four (4) consecutive fiscal
quarters most recently ended.


 


“UCC”
shall mean the Uniform Commercial Code as the same may, from time to time, be enacted and in effect in the State of New York; provided,
that to the extent that the UCC is used to define any term herein and such term is defined differently in different Articles or
Divisions of the UCC, the definition of such term contained in Article or Division 9 shall govern.


 


“Uniform Customs”
shall mean the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication
No. 500, as the same may be amended from time to time.


 


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


 




    	 	23	 



     


    

 


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


 


“VPP Purchaser”
shall mean the Persons party to a VPP Transaction that are not Credit Parties or Subsidiaries of Credit Parties, in each case,
together with their respective successors and assigns.


 


“VPP Transaction”
shall mean any volumetric production payment transaction or similar transaction, including any transaction structured as a sale
of property interests (including mineral reserves) in exchange for long-term periodic payments made by a Credit Party or a Subsidiary.


 


“Write-Down and
Conversion Powers” shall mean, 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.


 


Section 1.2           Uniform
Commercial Code.  Any term used in this Agreement which is defined in the UCC and not otherwise defined in this Agreement
or in any other Loan Document shall have the meaning given such term in the UCC.


 


Section 1.3           Accounting
Principles.  (a)  The classification, character and amount of all assets, liabilities, capital accounts
and reserves and of all items of income and expense to be determined, and any consolidation or other accounting computation to
be made, and the interpretation of any definition containing any financial term, pursuant to this Agreement shall be determined
and made in accordance with GAAP consistently applied.  All accounting terms used herein without definition shall be
used as defined under GAAP.  All financial calculations hereunder shall, unless otherwise stated, be determined for the
Borrower on a consolidated basis with its Subsidiaries.  Notwithstanding the foregoing, all financial covenants contained
herein shall be calculated without giving effect to (i) any election under Statement of Financial Accounting Standards 159 (or
any similar accounting principle) permitting a Person to value its financial liabilities at the fair value thereof or (ii) any
change in accounting for leases pursuant to GAAP resulting from the implementation of Financial Accounting Standards Board ASU
No. 2016-02, Leases (Topic 842), to the extent such adoption would require treating any lease (or similar arrangement conveying
the right to use) as a capital lease where such lease (or similar arrangement) would not have been required to be so treated under
GAAP as in effect on December 31, 2015.


 


(b)          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 a Credit Party or the Required Lenders shall so request, the Administrative Agent, the Required 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;
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 the adjustments and reconciliations
necessary to enable the Administrative Agent and each Lender to determine compliance with each of the Financial Covenants before
and after giving effect to such change in GAAP.


 


(c)          For
the purposes of this Agreement and the other Loan Documents, the Total Leverage Ratio and the Interest Coverage Ratio shall be
calculated on a Pro Forma Basis.


 




    	 	24	 



     


    

 


Section 1.4           Other
Interpretive Matters.  The terms “herein,” “hereof,” and “hereunder” and other
words of similar import refer to this Agreement as a whole and not to any particular section, paragraph, or subdivision.  Any
pronoun used shall be deemed to cover all genders.  In the computation of periods of time from a specified date to a
later specified date, the word “from” means “from and including” and the words “to” and “until”
each means “to but excluding.”  The section titles, table of contents, and list of exhibits appear as a matter
of convenience only and shall not affect the interpretation of this Agreement or any Loan Document.  All schedules, exhibits,
annexes, and attachments referred to herein are hereby incorporated herein by this reference.  All references to (a)
statutes and related regulations shall include all related rules and implementing regulations and any amendments of same and any
successor statutes, rules, and regulations; (b) “including” and “include” shall mean “including,
without limitation,” regardless of whether “without limitation” is included in some instances and not in others
(and, for purposes of each Loan Document, the parties agree that the rule of ejusdem generis shall not be applicable to
limit a general statement, which is followed by or referable to an enumeration of specific matters to matters similar to the matters
specifically mentioned); and (c) all references to dates and times shall mean the date and time at the Administrative Agent’s
notice address determined under Section 10.1, unless otherwise specifically stated.  All calculations of value of any
Property, fundings of Loans, issuances of Letters of Credit and payments of Obligations shall be in Dollars and, unless the context
otherwise requires, all determinations (including calculations of Financial Covenants) made from time to time under the Loan Documents
shall be made in light of the circumstances existing at such time.  No provision of any Loan Documents shall be construed
or interpreted to the disadvantage of any party hereto by reason of such party’s having, or being deemed to have, drafted,
structured, or dictated such provision.  A Default or Event of Default, if one occurs, shall “exist”, “continue”
or be “continuing” until such Default or Event of Default, as applicable, has been waived in writing in accordance
with Section 10.12. All terms used herein which are defined in Article 9 of the UCC and which are not otherwise defined herein
shall have the same meanings herein as set forth therein.  


 


ARTICLE
2




THE LOANS AND THE LETTERS OF CREDIT


 


Section 2.1           Revolving
Loans, Swing Loans and DDTL Loans.  


 


(a)          Revolving
Loans.  Subject to the terms and conditions of this Agreement, each Lender with a Revolving Loan Commitment agrees
severally to make Revolving Loans from time to time on any Business Day prior to the Maturity Date in an amount that will not result
in the following:


 


(i)          the
Revolving Credit Obligations of such Lender exceeding such Lender’s Revolving Loan Commitment; or


 


(ii)         the
Aggregate Revolving Credit Obligations exceeding the Revolving Loan Commitment.


 


Subject to the terms and
conditions hereof, prior to the Maturity Date, Revolving Loans may be repaid and reborrowed from time to time so long as all conditions
set forth in Section 4.2 have been satisfied unless waived by the Required Revolving Lenders in accordance with Section 10.12.


 


(b)          Swing
Loans.  Subject to the terms and conditions of this Agreement, the Swing Bank, in its sole and absolute discretion,
may from time to time on any Business Day prior to the Maturity Date, make Swing Loans in an aggregate amount not to exceed $25,000,000
at any time.


 


(c)          Delayed
Draw Term Loan.  Subject to the terms and conditions of this Agreement, each Lender with a DDTL Commitment agrees
severally to make DDTL Loans in an amount not exceeding such Lender’s DDTL Commitment on any Business Day through the DDTL
Commitment Termination Date; provided, that the undrawn portion thereof shall automatically be cancelled at the close of
business on the DDTL Commitment Termination Date.  The Borrower may request as many as three (3) draws on the DDTL Commitment
and the amount of each draw shall not be less than $50,000,000.  Once repaid, DDTL Loans may not be reborrowed. The DDTL
Commitment shall automatically terminate when the Available DDTL Commitment equals zero.  There shall be a dollar for
dollar reduction of the Available DDTL Commitment equal to the amount of each DDTL Loan.


 




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Section 2.2           Letters
of Credit.


 


(a)          Subject
to the terms and conditions of this Agreement, each Issuing Bank, on behalf of the Lenders, and in reliance on the agreements of
the Lenders set forth in Section 2.2(c) below, hereby agrees to issue one or more Letters of Credit, from time to time on any Business
Day prior to the date that is thirty (30) days prior to the Maturity Date, up to an aggregate face amount equal to the Letter of
Credit Issuance Limit; provided, however, that, except as described in the last sentence of Section 4.2, the Issuing
Bank shall not issue any Letter of Credit unless the conditions precedent to the issuance thereof set forth in Section 4.2 have
been satisfied.  Each Letter of Credit shall (i) be denominated in Dollars, and (ii) expire no later than the earlier
to occur of (A) the date ten (10) days prior to the Maturity Date, and (B) three hundred sixty (360) days after its date of issuance
(but may contain provisions for automatic renewal provided that no Default or Event of Default exists on the renewal date
or would be caused by such renewal and provided that no such renewal shall extend beyond the date ten (10) days prior to
the Maturity Date).  With respect to each Letter of Credit, (i) the rules of the International Standby Practices, ICC
Publication No. 590, or any subsequent revision or restatement thereof adopted by the ICC and in use by the Issuing Bank, shall
apply to each Standby Letter of Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most
recently published by the International Chamber of Commerce at the time of issuance shall apply to each Commercial Letter of Credit,
and, to the extent not inconsistent therewith, the laws of the State of New York.  The Issuing Bank shall not at any
time be obligated to issue, or cause to be issued, any Letter of Credit if such issuance would conflict with, or cause the Issuing
Bank to exceed any limits imposed by, any Applicable Law.


 


(b)          The
Borrower may from time to time request that the Issuing Bank issue a Letter of Credit.  The Borrower shall execute and
deliver to the Administrative Agent and the Issuing Bank a Request for Letter of Credit for each Letter of Credit to be issued
by the Issuing Bank, not later than 12:00 noon (Atlanta, Georgia time) on the third (3rd) Business Day preceding the date on which
the requested Letter of Credit is to be issued, or such shorter notice as may be acceptable to the Issuing Bank and the Administrative
Agent.  Upon receipt of any such Request for Letter of Credit, subject to satisfaction of all conditions precedent thereto
as set forth in Section 4.2 or waiver of such conditions pursuant to the last sentence of Section 4.2, the Issuing Bank shall process
such Request for Letter of Credit and the certificates, documents and other papers and information delivered to it in connection
therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested thereby.  The
Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower and the Administrative Agent following the issuance
thereof.  In addition to the fees payable pursuant to Section 2.5(c)(ii), the Borrower shall pay or reimburse the Issuing
Bank for normal and customary costs and expenses incurred by the Issuing Bank in issuing, effecting payment under, amending or
otherwise administering the Letters of Credit.


 


(c)          On
the Closing Date with respect to all Existing Letters of Credit and, with respect to all other Letters of Credit, immediately upon
the issuance by the Issuing Bank of a Letter of Credit and in accordance with the terms and conditions of this Agreement, the Issuing
Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed irrevocably and unconditionally
to have purchased and received from the Issuing Bank, without recourse or warranty, an undivided interest and participation, to
the extent of such Lender’s Revolving Commitment Percentage, in such Letter of Credit and the obligations of the Borrower
with respect thereto (including, without limitation, all Letter of Credit Obligations with respect thereto).  The Issuing
Bank shall promptly notify the Administrative Agent of any draw under a Letter of Credit.  At such time as the Administrative
Agent shall be notified by the Issuing Bank that the beneficiary under any Letter of Credit has drawn on the same, the Administrative
Agent shall promptly notify the Borrower and the Swing Bank (or, at its option, all Lenders), by telephone or telecopy, of the
amount of the draw and, in the case of each Lender, such Lender’s portion of such draw amount as calculated in accordance
with its Revolving Commitment Percentage.


 




    	 	26	 



     


    

 


(d)          The
Borrower hereby agrees to immediately reimburse the Issuing Bank for amounts paid by the Issuing Bank in respect of draws under
each Letter of Credit.  In order to facilitate such repayment, the Borrower hereby irrevocably requests the Lenders,
and the Lenders hereby severally agree, on the terms and conditions of this Agreement (other than as provided in Article 2 with
respect to the amounts of, the timing of requests for, and the repayment of Loans hereunder and in Article 4 with respect to conditions
precedent to Loans hereunder), to make a Base Rate Loan on each day on which a draw is made under any Letter of Credit and in the
amount of such draw, and to pay the proceeds of such Loan directly to the Issuing Bank to reimburse the Issuing Bank for the amount
paid by it upon such draw.  Each Lender shall pay its share of such Base Rate Loan to the Administrative Agent in accordance
with Section 2.3(f) and its Revolving Commitment Percentage, without reduction for any set-off or counterclaim of any nature whatsoever
and regardless of whether any Default or Event of Default exists or would be caused thereby.  The disbursement of funds
in connection with a draw under a Letter of Credit pursuant to this Section 2.2 shall be subject to the terms and conditions of
Section 2.3(f).  The obligation of each Lender to make payments to the Administrative Agent, for the account of the Issuing
Bank, in accordance with this Section 2.2 shall be absolute and unconditional and no Lender shall be relieved of its obligations
to make such payments by reason of noncompliance by any other Person with the terms of the Letter of Credit or for any other reason.  The
Administrative Agent shall promptly remit to the Issuing Bank the amounts so received from the other Lenders.  Any overdue
amounts payable by the Lenders to the Issuing Bank in respect of a draw under any Letter of Credit shall bear interest, payable
on demand, (x) for the first two (2) Business Days, at the Federal Funds Rate, and (y) thereafter, at the Base Rate.  Notwithstanding
the foregoing, at the request of the Administrative Agent, the Swing Bank may, at its option and subject to the conditions set
forth in Section 2.3(d) other than the condition that the applicable conditions precedent set forth in Article 4 be satisfied,
make Swing Loans to reimburse the Issuing Bank for amounts drawn under Letters of Credit.


 


(e)          The
Borrower agrees that each Loan by the Lenders to reimburse the Issuing Bank for draws under any Letter of Credit, shall, for all
purposes hereunder, unless and until converted into a Eurodollar Loan pursuant to Section 2.3(b)(ii), be deemed to be a Base Rate
Loan.


 


(f)          The
Borrower agrees that any action taken or omitted to be taken by the Issuing Bank in connection with any Letter of Credit, except
for such actions or omissions as shall constitute gross negligence or willful misconduct on the part of such Issuing Bank as determined
by a final non-appealable judgment of a court of competent jurisdiction, shall be binding on the Borrower as between the Borrower
and the Issuing Bank, and shall not result in any liability of the Issuing Bank to the Borrower.  The obligation of the
Borrower to reimburse the Issuing Bank for a drawing under any Letter of Credit or the Lenders for Loans made by them to the Issuing
Bank on account of draws made under the Letters of Credit shall be absolute, unconditional and irrevocable, and shall be paid strictly
in accordance with the terms of this Agreement under all circumstances whatsoever, including, without limitation, the following
circumstances:


 


(i)          Any
lack of validity or enforceability of any Loan Document;


 


(ii)         Any
amendment or waiver of or consent to any departure from any or all of the Loan Documents;


 




    	 	27	 



     


    

 


(iii)        Any
improper use which may be made of any Letter of Credit or any improper acts or omissions of any beneficiary or transferee of any
Letter of Credit in connection therewith;


 


(iv)        The
existence of any claim, set-off, defense or any right which the Borrower may have at any time against any beneficiary or any transferee
of any Letter of Credit (or Persons for whom any such beneficiary or any such transferee may be acting), any Lender or any other
Person, whether in connection with any Letter of Credit, any transaction contemplated by any Letter of Credit, this Agreement,
or any other Loan Document, or any unrelated transaction;


 


(v)         Any
statement or any other documents presented under any Letter of Credit proving to be insufficient, forged, fraudulent or invalid
in any respect or any statement therein being untrue or inaccurate in any respect whatsoever;


 


(vi)        The
insolvency of any Person issuing any documents in connection with any Letter of Credit;


 


(vii)       Any
breach of any agreement between the Borrower and any beneficiary or transferee of any Letter of Credit;


 


(viii)      Any
irregularity in the transaction with respect to which any Letter of Credit is issued, including any fraud by the beneficiary or
any transferee of such Letter of Credit;


 


(ix)         Any
errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph, wireless or
otherwise, whether or not they are in code;


 


(x)          Any
act, error, neglect or default, omission, insolvency or failure of business of any of the correspondents of the Issuing Bank;


 


(xi)         Any
other circumstances arising from causes beyond the control of the Issuing Bank;


 


(xii)        Payment
by the Issuing Bank under any Letter of Credit against presentation of a sight draft or a certificate which does not comply with
the terms of such Letter of Credit, provided that such payment shall not have constituted gross negligence or willful misconduct
of the Issuing Bank as determined by a final non-appealable judgment of a court of competent jurisdiction; and


 


(xiii)       Any
other circumstance or happening whatsoever, whether or not similar to any of the foregoing;


 


provided that the
foregoing shall not be construed to excuse the Issuing Bank from liability to the Borrower suffered by the Borrower that is caused
by the Issuing Bank’s failure to exercise care when determining whether drafts and other documents presented under a Letter
of Credit comply with the terms thereof.  The parties hereto expressly agree that, in the absence of gross negligence
or willful misconduct on the part of the Issuing Bank as determined by a final non-appealable judgment of a court of competent
jurisdiction, the Issuing Bank shall be deemed to have exercised all requisite care in each such determination. In furtherance
of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which
appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in good faith,
either accept and make payment upon such documents without responsibility for further investigation or refuse to accept and make
payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit.


 




    	 	28	 



     


    

  





(g)          [Reserved].


 


(h)          Each Lender shall
be responsible (to the extent the Issuing Bank is not reimbursed by the Borrower) for its pro rata share (based on such Lender’s
Revolving Commitment Percentage) of any and all reasonable out-of-pocket expenses (including reasonable attorneys’ fees)
which may be incurred or made by the Issuing Bank in connection with the collection of any amounts due under, the administration
of, or the presentation or enforcement of any rights conferred by any Letter of Credit, the Borrower’s or any Guarantor’s
obligations to reimburse draws thereunder or otherwise. In the event the Borrower shall fail to pay such expenses of the Issuing
Bank (to the extent such expenses are required to be reimbursed by the Borrower pursuant to Section 10.2) within fifteen (15) days
of demand for payment by the Issuing Bank, each Lender shall thereupon pay to the Issuing Bank its pro rata share (based on such
Lender’s Revolving Commitment Percentage) of such expenses within ten (10) days from the date of the Issuing Bank’s
notice to the Lenders of the Borrower’s failure to pay; provided, however, that if the Borrower shall thereafter
pay such expenses, the Issuing Bank will repay to each Lender the amounts received from such Lender hereunder.


 


(i)          Subject to the
appointment and acceptance of a successor issuer below in the event there is only one Issuing Bank, any Issuing Bank may resign
as Issuing Bank upon sixty (60) days’ prior written notice to the Administrative Agent, the Lenders and the Borrower. If
any Issuing Bank shall resign as Issuing Bank under this Agreement, then the Borrower may appoint from among the Lenders a successor
issuer of Letters of Credit, whereupon, subject to acceptance of such appointment by such successor issuer, such successor issuer
shall succeed to the rights, powers and duties of such resigning Issuing Bank, and the term “Issuing Bank” shall include
such successor issuer effective upon such appointment. At the time such resignation shall become effective, the Borrower shall
pay to the resigning Issuing Bank all accrued fees pursuant to Section 2.5(c)(ii) hereof. The acceptance of any appointment as
an Issuing Bank hereunder by a successor Lender shall be evidenced by an agreement entered into by such successor, in a form satisfactory
to the Borrower and the Administrative Agent and, from and after the effective date of such agreement, such successor Issuing Bank
shall have all the rights and obligations of the previous Issuing Bank under this Agreement and the other Loan Documents. In the
event there is only one Issuing Bank and none of the other Lenders accepts such appointment within ninety (90) days after any Issuing
Bank submitted its notice of resignation, such Issuing Bank’s resignation shall still be effective if such Issuing Bank determines
in good faith that it is either unable or that it is commercially unreasonable for it to continue to issue Letters of Credit hereunder.
After the resignation of any Issuing Bank hereunder, the resigning Issuing Bank shall remain a party hereto and shall continue
to have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents with respect to Letters
of Credit issued by it prior to such resignation, but shall not be required to issue additional Letters of Credit. After any retiring
Issuing Bank’s resignation as Issuing Bank, the provisions of this Agreement relating to such Issuing Bank shall inure to
its benefit as to any actions taken or omitted to be taken by it (i) while it was Issuing Bank under this Agreement or (ii) at
any time with respect to Letters of Credit issued by such Issuing Bank. For the avoidance of doubt, any resignation by an Issuing
Bank shall not affect the Letters of Credit issued by such Issuing Bank prior to such resignation.


 


(j)          Any Issuing Bank
which ceases to be a Lender pursuant to Section 10.12(b) or 10.16 shall also cease to be an Issuing Bank hereunder.


 




    	 	29	 



     


    

 


Section 2.3          Manner
of Borrowing and Disbursement of Loans.


 


(a)          Choice of Interest
Rate, etc. Any Loan (including any initial Loan made on the Closing Date but excluding Swing Loans) shall, at the option of
the Borrower, be made either as a Base Rate Loan or as a Eurodollar Loan; provided, however, that (i) if the Borrower
fails to give the Administrative Agent written notice specifying whether a Eurodollar Loan is to be repaid, continued or converted
on a Payment Date, such Eurodollar Loan shall be converted to a Base Rate Loan on the Payment Date in accordance with Section 2.4(a)(iii)
and (ii) the Borrower may not select a Eurodollar Loan (A) with respect to a Loan, the proceeds of which are to reimburse the Issuing
Bank pursuant to Section 2.2 or (B) if, at the time of such Loan or at the time of the continuation of, or conversion to, a Eurodollar
Loan pursuant to Section 2.3(c), an Event of Default exists unless the Required Lenders so consent in writing. Any notice given
to the Administrative Agent in connection with a requested Loan hereunder shall be given to the Administrative Agent prior to 12:00
noon (Atlanta, Georgia, time) in order for such Business Day to count toward the minimum number of Business Days required.


 


(b)          Base Rate Loans.


 


(i)          Initial
and Subsequent Loans. The Borrower shall give the Administrative Agent in the case of Base Rate Loans irrevocable notice by
telephone not later than 12:00 noon (Atlanta, Georgia, time) on the date of such Loan and shall immediately confirm any such telephone
notice with a written Request for Loan; provided, however, that the failure by the Borrower to confirm any notice
by telephone with a written Request for Loan shall not invalidate any notice so given.


 


(ii)          Repayments
and Conversions. The Borrower may (A) subject to Section 2.6, at any time without prior notice repay a Base Rate Loan or (B)
upon at least three (3) Business Days irrevocable prior written notice to the Administrative Agent in the form of a Notice of Conversion/Continuation,
convert all or a portion of any Base Rate Loan to one or more Eurodollar Loans. Upon the date indicated by the Borrower, such Base
Rate Loan shall be so repaid or converted.


 


(iii)          Miscellaneous.
Notwithstanding any term or provision of this Agreement which may be construed to the contrary, each Base Rate Loan shall be in
an amount of no less than $1,000,000 and in an integral multiple of $100,000 in excess thereof.


 


(c)          Eurodollar
Loans.


 


(i)          Initial
and Subsequent Loans. The Borrower shall give the Administrative Agent in the case of Eurodollar Loans irrevocable notice by
telephone not later than 12:00 noon (Atlanta, Georgia, time) three (3) days prior to the date of such Eurodollar Loan and shall
immediately confirm any such telephone notice with a written Request for Loan; provided, however, that the failure
by the Borrower to confirm any notice by telephone with a written Request for Loan shall not invalidate any notice so given.


 


(ii)          Repayments,
Continuations and Conversions. At least three (3) Business Days prior to each Payment Date for a Eurodollar Loan, the Borrower
shall give the Administrative Agent written notice in the form of a Notice of Conversion/Continuation specifying whether all or
a portion of such Eurodollar Loan is to be continued as one or more new Eurodollar Loans and also specifying the new Eurodollar
Loan Period applicable to each such new Eurodollar Loan (and subject to the provisions of this Agreement, upon such Payment Date,
such Eurodollar Loan shall be so continued). Upon such Payment Date, any Eurodollar Loan (or portion thereof) not so continued
shall be converted to a Base Rate Loan or be repaid.


 




    	 	30	 



     


    

 


(iii)        Miscellaneous.
Notwithstanding any term or provision of this Agreement which may be construed to the contrary, each Eurodollar Loan shall be in
an amount of no less than $1,000,000 and in an integral multiple of $1,000,000 in excess thereof, and at no time shall the aggregate
number of all Eurodollar Loans then outstanding exceed eight (8).


 


(d)          Swing Loans.


 


(i)          Initial
and Subsequent Loans. The Borrower shall give the Swing Bank notice by telephone no later than 12:00 noon (Atlanta, Georgia,
time) on the date on which the Borrower wishes to receive a Swing Loan. If the Swing Bank, in its sole and absolute discretion,
elects to make the requested Swing Loan, the Swing Bank shall provide an interest rate quote to the Borrower. If such interest
rate is acceptable to the Borrower, the Borrower shall provide a Request for Loan to the Swing Bank, with a copy to the Administrative
Agent, which specifies (i) the amount of the requested Swing Loan, (ii) the length of the requested Swing Loan (which shall not
exceed one week), (iii) the Swing Rate, and (iv) instructions for the disbursement of the proceeds of the Swing Loan; provided,
however, that the failure by the Borrower to confirm any notice by telephone with a written Request for Loan shall not invalidate
any notice so given.


 


Each Swing Loan
shall be subject to all the terms and conditions applicable to Revolving Loans, except that all payments thereon shall be payable
to the Swing Bank solely for its own account. The Swing Bank shall not make any Swing Loans if the Swing Bank has received written
notice from any Lender (or the Swing Bank has actual knowledge) that one or more applicable conditions precedent set forth in Section
4.2 will not be satisfied (or waived pursuant to the last sentence of Section 4.2) on the requested Loan date. In the event that
the Swing Bank elects to make any requested Swing Loan, the Swing Bank shall make the proceeds of such Swing Loan available to
the Borrower pursuant to the disbursement instructions in the applicable Request for Loan by no later than 2:00 p.m. (Atlanta,
Georgia time) on the date that Borrower requests such Swing Loan.


 


(ii)          Repayments
and Conversions. The Swing Bank shall notify the Administrative Agent, and the Administrative Agent shall notify each Lender,
each Friday by 3:00 p.m. (Atlanta, Georgia, time) of the amount of all Swing Loans outstanding. Each Lender shall before 12:00
noon (Atlanta, Georgia, time) on the next Business Day make available to the Administrative Agent, in immediately available funds,
the amount of its pro rata share (based on its Revolving Commitment Percentage) of such Swing Loans. Upon such payment by a Lender,
such Lender shall be deemed to have made a Revolving Loan that is a Base Rate Loan, notwithstanding any failure of the Borrower
to satisfy the conditions in Section 4.2. The Administrative Agent shall use such funds to repay the Swing Loans to the Swing Bank.
Additionally, if at any time any Swing Loans exist, any of the events described in clauses (g) or (h) of Section 8.1 shall have
occurred, then each Lender shall automatically and without any action on the part of the Swing Bank, the Borrower, the Administrative
Agent or the Lenders, be deemed to have purchased an undivided participation in the Swing Loans in an amount equal to such Lender’s
Revolving Commitment Percentage and each Lender shall, notwithstanding such Event of Default, immediately pay to the Administrative
Agent for the account of the Swing Bank in immediately available funds, the amount of such Lender’s participation (and upon
receipt thereof, the Swing Bank shall deliver to such Lender a loan participation certificate dated the date of receipt of such
funds in such amount). The disbursement of funds in connection with the settlement of Swing Loans hereunder shall be subject to
the terms and conditions of Section 2.3(f).


 




    	 	31	 



     


    

 


 


(e)          Notification
of Lenders. Upon receipt of a (i) Request for Loan or a telephone or telecopy request for Loan, (ii) notification from the
Issuing Bank that a draw has been made under any Letter of Credit (unless the Issuing Bank will be reimbursed through the funding
of a Swing Loan), or (iii) notice from the Borrower with respect to the prepayment of any outstanding Eurodollar Loan prior to
the Payment Date for such Loan, the Administrative Agent shall promptly notify each Lender by telephone or telecopy of the contents
thereof and the amount of each Lender’s portion of any such Loan. Each Lender shall, not later than 2:00 p.m. (Atlanta,
Georgia, time) on the date specified for such Loan (under clause (i) or (ii) above) in such notice, make available to the Administrative
Agent at the Administrative Agent’s Office, or at such account as the Administrative Agent shall designate, the amount of
such Lender’s portion of the Loan in immediately available funds.


 


(f)          Disbursement.
Prior to 4:00 p.m. (Atlanta, Georgia, time) on the date of a Loan hereunder, the Administrative Agent shall, subject to the satisfaction
of the conditions set forth in Article 4, disburse the amounts made available to the Administrative Agent by the Lenders in like
funds by (i) transferring the amounts so made available by wire transfer to a deposit account maintained by the Borrower with the
Administrative Agent or, at the Borrower’s option by effecting a wire transfer of such amounts to another deposit account
designated by the Borrower to the Administrative Agent in a written Request for Loan or (ii) in the case of a Loan the proceeds
of which are to reimburse the Issuing Bank pursuant to Section 2.2, transferring such amounts to such Issuing Bank. Unless the
Administrative Agent shall have received notice from a Lender prior to 1:00 p.m. (Atlanta, Georgia, time) on the date of any Loan
that such Lender will not make available to the Administrative Agent such Lender’s ratable portion of such Loan, the Administrative
Agent may assume that such Lender has made or will make such portion available to the Administrative Agent on the date of such
Loan and the Administrative Agent may, in its sole and absolute discretion and in reliance upon such assumption, make available
to the applicable Borrower or the Issuing Bank, as applicable, on such date a corresponding amount. If and to the extent such Lender
shall not have so made such ratable portion available to the Administrative Agent by 1:00 p.m. (Atlanta, Georgia time) on the date
of any Loan, such Lender agrees to repay to the Administrative Agent forthwith on demand such corresponding amount together with
interest thereon, for each day from the date such amount is made available to the applicable Borrower or the Issuing Bank, as applicable,
until the date such amount is repaid to the Administrative Agent, (x) for the first two (2) Business Days, at the Federal Funds
Rate for such Business Days, and (y) thereafter, at the Base Rate. If such Lender shall repay to the Administrative Agent such
corresponding amount, such amount so repaid shall constitute such Lender’s portion of the applicable Loan for purposes of
this Agreement and if both such Lender and the Borrower shall pay and repay such corresponding amount, the Administrative Agent
shall promptly relend to the applicable Borrower such corresponding amount. If such Lender does not repay such corresponding amount
immediately upon the Administrative Agent’s demand therefor, the Administrative Agent shall notify the Borrower and the Borrower
shall immediately pay such corresponding amount to the Administrative Agent. The failure of any Lender to fund its portion of any
Loan shall not relieve any other Lender of its obligation, if any, hereunder to fund its respective portion of the Loan on the
date of such borrowing, but no Lender shall be responsible for any such failure of any other Lender.


 




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(g)          Deemed Requests
for Loan. Unless payment is otherwise timely made by the Borrower, the becoming due of any Obligation (other than any Bank
Products Obligations) shall be deemed irrevocably to be a Request for Loan on the due date of, and in an aggregate amount required
to pay such Obligation (other than any Bank Products Obligations), and the proceeds of a Revolving Loan that is a Base Rate Loan
made pursuant thereto may be disbursed by way of direct payment of the relevant Obligation. The Lenders shall have no obligation
to the Borrower to honor any deemed Request for Loan under this Section 2.3(g) unless, subject to the funding requirements of the
Lenders under Sections 2.2(d) and 2.3(b)(ii), all the conditions set forth in Section 4.2 have been satisfied, but, with the consent
of the Lenders required under the last sentence of Section 4.2, may do so in their sole and absolute discretion and without regard
to the existence of, and without being deemed to have waived, any Default or Event of Default and without regard to the failure
by the Borrower to satisfy any of the conditions set forth in Section 4.2. No further authorization, direction or approval by the
Borrower shall be required for any deemed Request for Loan under this Section 2.3(g). The Administrative Agent shall promptly provide
to the Borrower written notice of any Loan made pursuant to this Section 2.3(g).


 


Section 2.4          Interest.


 


(a)          On Loans.
Interest on the Loans, subject to Sections 2.4(b) and (c), shall be payable as follows:


 


(i)          On
Base Rate Loans. Interest on each Base Rate Loan shall be computed on the basis of a hypothetical year of three hundred sixty
(360) days for the actual number of days elapsed and shall be payable quarterly in arrears on the last day of each calendar quarter
and on the Maturity Date (or the date of any earlier prepayment in full of the Obligations). Interest shall accrue and be payable
on each Base Rate Loan at the simple per annum interest rate equal to the sum of (A) the Base Rate and (B) the Applicable Margin
for Base Rate Loans.


 


(ii)          On
Eurodollar Loans. Interest on each Eurodollar Loan shall be computed on the basis of a hypothetical year of three hundred sixty
(360) days for the actual number of days elapsed and shall be payable in arrears on (x) the Payment Date, and (y) if the Eurodollar
Loan Period is greater than three (3) months, on the last day of each three (3) month period ending prior to the Payment Date and
on the Payment Date. Interest on Eurodollar Loans shall also be payable on the Maturity Date (or the date of any earlier prepayment
in full of the Obligations). Interest shall accrue and be payable on each Eurodollar Loan at a rate per annum equal to the sum
of (A) the Eurodollar Basis applicable to such Eurodollar Loan and (B) the Applicable Margin for Eurodollar Loans.


 


(iii)          If
No Notice of Selection of Interest Rate. If the Borrower fails to give the Administrative Agent timely notice of its selection
of the Base Rate or a Eurodollar Basis, or if for any reason a determination of a Eurodollar Basis for any Loan is not timely concluded,
the Base Rate shall apply to such Loan. If the Borrower fails to elect to continue any Eurodollar Loan prior to the last Payment
Date applicable thereto in accordance with the provisions of Section 2.3, as applicable, the Base Rate shall apply to such Loan
commencing on and after such Payment Date.


 


(iv)          On
Swing Loans. Interest on each Swing Loan shall be computed on the basis of a hypothetical year of three hundred sixty (360)
days for the actual number of days elapsed and shall be payable quarterly in arrears on the last day of each calendar quarter and
on the Maturity Date (or the date of any earlier prepayment in full of the Obligations). Interest shall accrue and be payable on
each Swing Loan at the Swing Rate.


 




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(b)          Upon Default.
During the existence of an Event of Default, interest on the Obligations shall, at the written request of the Required Lenders,
accrue at the Default Rate; provided, however, that the Default Rate shall automatically be deemed to have been invoked
at all times when the Obligations have been accelerated or deemed accelerated pursuant to Section 8.2(g) or Section 8.2(h). Interest
accruing at the Default Rate shall be payable on demand and in any event on the Maturity Date (or the date of any earlier prepayment
in full of the Obligations) and shall accrue until the earliest to occur of (i) waiver of the applicable Event of Default in accordance
with Section 10.12, (ii) agreement by the Required Lenders to rescind the charging of interest at the Default Rate, or (iii) payment
in full of the Obligations. The Lenders shall not be required to (A) accelerate the maturity of the Loans, (B) terminate the Commitments,
or (C) exercise any other rights or remedies under the Loan Documents in order to charge interest hereunder at the Default Rate.


 


(c)          Computation
of Interest. In computing interest on any Loan, the date of making the Loan shall be included and the date of payment shall
be excluded; provided, however, that if a Loan is repaid on the date that it is made, one (1) day’s interest
shall be due with respect to such Loan.


 


Section 2.5          Fees.


 


(a)          Fee Letters.
The Borrower agrees to pay any and all fees that are set forth in any fee letter executed in connection with this Agreement at
the times specified therein.


 


(b)          Commitment
Fee. The Borrower agrees to pay to the Administrative Agent, for the account of the Lenders in accordance with their respective
Revolving Commitment Percentages, a commitment fee (“Commitment Fee”) on the amount by which the Revolving Loan
Commitment exceeded the average daily amount of Aggregate Revolving Credit Obligations (other than with respect to any Swing Loans)
during the Availability Period, at the per annum rate determined daily in accordance with Annex I. Such Commitment Fee shall
be computed on the basis of a hypothetical year of three hundred sixty (360) days for the actual number of days elapsed, shall
be payable in arrears on the last day of each calendar quarter and, if then unpaid, on the last day of the Availability Period.


 


(c)          Letter of Credit
Fees.


 


(i)          The
Borrower shall pay to the Administrative Agent for the account of the Lenders, in accordance with their respective Revolving Commitment
Percentages, a fee on the stated amount of each Letter of Credit for each day from the Date of Issue through the expiration date
of each Letter of Credit (whether such date is the stated expiration date of such Letter of Credit at the time of the original
issuance thereof or the stated expiration date of such Letter of Credit upon any renewal thereof) at a rate per annum equal to
the Applicable Margin in effect from time to time with respect to Eurodollar Loans plus, at all times when the Default Rate is
in effect, 2.00%. Such Letter of Credit fee shall be computed on the basis of a hypothetical year of three hundred sixty (360)
days for the actual number of days elapsed, shall be payable in arrears on the last day of each calendar quarter and, if then unpaid,
on the Maturity Date (or the date of any earlier prepayment in full of the Obligations).


 


(ii)          The
Borrower shall also pay to the Administrative Agent, for the account of the Issuing Bank, (A) a fee on the stated amount of each
Letter of Credit for each day from the Date of Issue through the stated expiration date of each such Letter of Credit (whether
such date is the stated expiration date of such Letter of Credit at the time of the original issuance thereof or the stated expiration
date of such Letter of Credit upon any renewal thereof) at a rate of 0.175% per annum, which fee shall be computed on the basis
of a hypothetical year of three hundred sixty (360) days for the actual number of days elapsed, and (B) any reasonable and customary
fees charged by the Issuing Bank for issuance and administration of such Letters of Credit, which fees, in each case, shall be
payable in arrears on the last day of each calendar quarter and, if then unpaid, on the Maturity Date (or the date of any earlier
prepayment in full of the Obligations).


 




    	 	34	 



     


    

  


(d)          Ticking Fee.
The Borrower agrees to pay to the Administrative Agent, for the account of the Lenders in accordance with their respective DDTL
Commitment Percentages, from the date that is thirty (30) days after the Closing Date through the earlier of (i) the date on which
the Available DDTL Commitment equals zero and (ii) the DDTL Commitment Termination Date, a ticking fee (“Ticking Fee”)
on the daily Available DDTL Commitment, at the per annum rate determined daily in accordance with Annex I. Such Ticking Fee shall
be computed on the basis of a hypothetical year of three hundred sixty (360) days for the actual number of days elapsed, shall
be payable in arrears on the last day of each calendar quarter and, if then unpaid, on the DDTL Commitment Termination Date.


 


(e)          Computation
of Fees; Additional Terms Relating to Fees. In computing any fees payable under this Section 2.5, the first day of the applicable
period shall be included and the date of the payment shall be excluded. All fees payable under or in connection with this Agreement
and the other Loan Documents shall be deemed fully earned when and as they become due and payable and, once paid, shall be non-refundable,
in whole or in part.


 


Section 2.6          Prepayment/Cancellation
of Commitments.


 


(a)          Any Base Rate
Loan may be repaid in full or in part at any time, without premium, penalty or prior notice; and any Eurodollar Loan may be prepaid
without premium or penalty prior to the Payment Date, upon three (3) Business Days prior written notice to the Administrative Agent,
provided, that the Borrower shall reimburse each Lender, to the extent requested by such Lender, for any loss or reasonable
out-of-pocket expense incurred by such Lender in connection with such prepayment, in accordance with Section 2.10. Each notice
of prepayment of any Eurodollar Loan shall be irrevocable, and each prepayment shall include the accrued interest on the amount
so prepaid. Upon receipt of any notice of repayment or prepayment, the Administrative Agent shall promptly notify each Lender of
the contents thereof by telephone or telecopy and of such Lender’s portion of the repayment or prepayment. Notwithstanding
the foregoing, the Borrower shall not make any repayment or prepayment of the Revolving Loans unless there are no Swing Loans.
Except as provided in Section 2.6(b), any repayment or prepayment of Revolving Loans shall not reduce the Revolving Loan Commitment.
All DDTL Loan prepayments shall be applied as directed by the Borrower at the time of such prepayment (or, in the absence of such
direction, in the direct order of maturity).


 


(b)          The Borrower shall
have the right, at any time, upon at least three (3) Business Days prior written notice to the Administrative Agent, without premium
or penalty, to cancel or reduce permanently all or a portion of the Revolving Loan Commitment on a pro rata basis among the Lenders
in accordance with their respective Revolving Commitment Percentages; provided, that (i) any such partial reduction shall
be made in an amount not less than (x) $25,000,000 or (y) if the Revolving Loan Commitment is less than $25,000,000 on the date
of such partial reduction, the amount of the Revolving Loan Commitment on such date, (ii) the Revolving Loan Commitment may not
be reduced to an amount below the Letter of Credit Obligations (unless the Revolving Loan Commitment is cancelled and the Letter
of Credit Obligations are cash collateralized as set forth below), and (iii) in connection with any partial reduction in the Revolving
Loan Commitment, the Letter of Credit Commitment shall be automatically reduced on a pro rata basis with the Revolving Loan Commitment.
As of the date of cancellation or reduction set forth in such notice, the Revolving Loan Commitment shall be permanently canceled
or reduced to the amount stated in the Borrower’s notice for all purposes herein, and the Borrower shall immediately (1)
pay to the Administrative Agent for the account of the Lenders the amount necessary to repay in full the Loans or reduce the Loans
to not more than the amount of the Revolving Loan Commitment as so reduced, together with accrued interest on the amount so prepaid
and the Commitment Fee set forth in Section 2.5(b) accrued through the date of the reduction, with respect to the amount reduced,
or cancellation, (2) reimburse each Lender, to the extent requested by such Lender, for any loss or out-of-pocket expense incurred
by such Lender in connection with such payment in accordance with Section 2.10 and (3) if such cancellation or reduction results
in the Revolving Loan Commitment being less than the Letter of Credit Obligations, secure the Letter of Credit Obligations through
the delivery of cash collateral, or, in the sole and absolute discretion of the applicable Issuing Bank that provided the Letter
of Credit in connection with such Letter of Credit Obligations and the Administrative Agent, a “back-stop” letter of
credit, in form and substance satisfactory to the applicable Issuing Bank that provided the Letter of Credit in connection with
such Letter of Credit Obligations and the Administrative Agent, in an amount equal to one hundred three percent (103%) of the excess
Letter of Credit Obligations.


 




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(c)          The Borrower shall
have the right, at any time, upon at least three (3) Business Days prior written notice to the Administrative Agent, without premium
or penalty, to cancel or reduce permanently all or a portion of the DDTL Commitment on a pro rata basis among the Lenders in accordance
with their respective DDTL Commitment Percentages; provided, that any such partial reduction shall be made in an amount
not less than (i) $25,000,000 or (ii) if the Available DDTL Commitment is less than $25,000,000 on the date of such partial reduction,
the amount of the Available DDTL Commitment on such date. As of the date of cancellation or reduction set forth in such notice,
the DDTL Commitment shall be permanently canceled or reduced to the amount stated in the Borrower’s notice for all purposes
herein, and the Borrower shall immediately pay to the Administrative Agent for the account of the Lenders the Ticking Fee set forth
in Section 2.5(d) accrued through the date of the reduction, with respect to the amount reduced, or cancellation.


 


(d)          Upon at least
three (3) Business Days’ prior written notice to Administrative Agent, the Borrower may terminate (on a non-ratable basis)
the unused amount of the Revolving Loan Commitment or DDTL Commitment of a Defaulting Lender, and in such event the provisions
of Section 2.15 will apply to all amounts thereafter paid by the Borrower for the account of any such Defaulting Lender under this
Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided, that such termination
will not be deemed to be a waiver or release of any claim that the Borrower, the Administrative Agent, the Issuing Bank, the Swing
Bank or any other Lender may have against such Defaulting Lender.


 


Section 2.7          Repayment.


 


(a)          The Revolving
Loans. The Revolving Loans shall be due and payable in full in cash on the Revolving Loan Maturity Date.


 


(b)          DDTL Loans.


 


(i)          The
DDTL Loans shall be repaid on the last day of each fiscal quarter prior to the DDTL Maturity Date, commencing with the fiscal quarter
ending March 31, 2018, in such amounts as set forth below:


 


	Repayment Date	 	Percentage of the
    DDTL Loans on
 the DDTL Commitment
 Termination
    Date	 
	Quarters 5 (March 31, 2018) -8	 	 	0.625	%
	Quarters 9-12	 	 	1.25	%
	Quarters 13-19	 	 	1.875	%
	Quarters 20-27 (as applicable)	 	 	1.875	%



 




    	 	36	 



     


    

 


(ii)          If
the DDTL Maturity Date is extended pursuant to Section 2.16(b), (a) the unpaid DDTL Loans of the Declining DDTL Lenders shall be
due and payable on the non-extended DDTL Maturity Date and (b) the DDTL Loans of each Extending DDTL Lender shall be repaid consistent
with clause (i) above.


 


(iii)         The
unpaid DDTL Loans shall be due and payable on the DDTL Maturity Date.


 


(c)          Mandatory Repayment.
If at any time the Aggregate Revolving Credit Obligations exceeds the Revolving Loan Commitment, as reduced pursuant to Section
2.6 or otherwise, the Borrower shall immediately repay the Swing Loans and the Revolving Loans in an amount equal to such excess,
together with all accrued interest on such excess amount and any amounts due under Section 2.10. Each prepayment shall be applied
as follows: first, to the Swing Loans to the full extent thereof; second, to the Base Rate Loans to the full extent thereof; and
third, to the Eurodollar Loans to the full extent thereof. If, after giving effect to prepayment of all Swing Loans and Revolving
Loans, the Aggregate Revolving Credit Obligations exceeds the Revolving Loan Commitment, the Borrower shall Cash Collateralize
its reimbursement obligations with respect to all Letters of Credit in an amount equal to such excess plus any accrued fees thereon.


 


Section 2.8          Notes;
Loan Accounts.


 


(a)          This Agreement
evidences the obligation of the Borrower to repay the Loans and it is not necessary for a promissory note to be issued, however,
upon request by any Lender, the Loans may be evidenced by a Revolving Loan Note and DDTL Loan Note.


 


(b)          The Administrative
Agent shall open and maintain on its books in the name of the Borrower a loan account with respect to the Loans and interest thereon
(the “Loan Account”). The Administrative Agent shall debit such Loan Account for the principal amount of each
Loan made by it on behalf of the Lenders, accrued interest thereon, and all other amounts which shall become due from the Borrower
pursuant to this Agreement and shall credit the Loan Account for each payment which the Borrower shall make in respect to the Obligations.
The records of the Administrative Agent with respect to such Loan Account shall be conclusive evidence of the Loans and accrued
interest thereon, absent manifest error.


 




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Section 2.9          Manner
of Payment.


 


(a)          When Payments
Due.


 


(i)          Each
payment (including any prepayment) by the Borrower on account of the principal, interest, fees, and any other amount owed to any
member of the Lender Group under this Agreement or the other Loan Documents shall be made not later than 1:00 p.m. (Atlanta, Georgia,
time) on the date specified for payment under this Agreement or any other Loan Document to the Administrative Agent at the Administrative
Agent’s Office, for the account of the Lenders, the Issuing Bank or the Administrative Agent, as the case may be, in Dollars
in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (Atlanta, Georgia, time) shall
be deemed received on the next Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will
promptly thereafter distribute the amount so received in like funds to such Lender. In the case of a payment for the account of
the Issuing Bank, the Administrative Agent will promptly thereafter distribute the amount so received in like funds to the Issuing
Bank. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent
will promptly notify the Lenders accordingly.


 


(ii)          Except
as provided in the definition of “Eurodollar Loan Period”, if any payment under this Agreement or any other Loan Document
shall be specified to be made on a day which is not a Business Day, it shall be made on the next succeeding day which is a Business
Day, and such extension of time shall in such case be included in computing interest and fees, if any, in connection with such
payment.


 


(b)          No Deduction.


 


(i)          Any
and all payments of principal and interest, fees, indemnity or expense reimbursements, and any other amounts by any Credit Party
hereunder or under any other Loan Documents (the “Credit Party Payments”) shall be made without setoff or counterclaim
and free and clear of and without deduction for any and all current or future taxes, levies, imposts, deductions, charges or withholdings
with respect to such Credit Party Payments and all interest, penalties or similar liabilities with respect thereto (excluding any
Excluded Taxes, collectively, “Indemnified Taxes”). If any Credit Party shall be required to deduct any Indemnified
Taxes from or in respect of any sum payable to any member of the Lender Group hereunder or under any other Loan Document, (x) the
sum payable shall be increased by the amount (an “additional amount”) necessary so that after making all required
deductions (including deductions applicable to additional sums payable under this Section 2.9(b)(i)), such member of the Lender
Group shall receive an amount equal to the sum it would have received had no such deductions been made, (y) the applicable Credit
Party shall make such deductions, and (z) the applicable Credit Party shall pay the full amount deducted to the relevant Governmental
Authority in accordance with Applicable Law.


 


(ii)          In
addition, the Credit Parties shall pay to the relevant Governmental Authority in accordance with Applicable Law any current or
future stamp or documentary taxes or any other excise or property taxes, charges or similar levies that arise from any payment
made hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Agreement or any other Loan
Document excluding, however, such taxes, charges or levies imposed as a result of an assignment or participation (other than an
assignment that occurs as a result of a request by the Borrower unless such Lender is being replaced due to its status as a Defaulting
Lender) (such taxes being “Other Taxes”).


 




    	 	38	 



     


    

 


(iii)          The
Credit Parties shall indemnify the members of the Lender Group for the full amount of Indemnified Taxes and Other Taxes with respect
to Credit Party Payments paid by such Person, and any liability (including penalties, interest and expenses (including reasonable
attorney’s fees and expenses)) arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other
Taxes were correctly or legally asserted by the relevant Governmental Authority; provided, that the Credit Parties shall
not be required to indemnify the Administrative Agent, any Lender, or the Issuing Bank for any amount pursuant to this Section
2.9(b) incurred more than six months prior to the date the Administrative Agent, such Lender, or such Issuing Bank notifies such
Credit Party in writing of such amounts. A certificate setting forth and containing an explanation in reasonable detail of the
manner in which such amount shall have been determined and the amount of such payment or liability prepared by a member of the
Lender Group or the Administrative Agent on its behalf, absent manifest error, shall be final, conclusive and binding for all purposes.
Such indemnification shall be made within thirty (30) days after the date the Administrative Agent or such member, as the case
may be, makes written demand therefor. If, in the reasonable determination of the Credit Parties, any such Indemnified Taxes or
Other Taxes are incorrectly or illegally imposed or asserted by the relevant Governmental Authority, the members of the Lender
Group shall, at the Credit Parties’ expense, use commercially reasonable efforts to cooperate with the Credit Parties to
recover such Indemnified Taxes or Other Taxes, provided that no Lender Group member shall be required to do so if doing
so would place such Lender Group member in a less favorable net after-tax position than such Lender Group member would otherwise
have been in. If any Indemnified Taxes or Other Taxes for which the Administrative Agent or any member of the Lender Group has
received indemnification from a Credit Party hereunder shall be finally determined to have been incorrectly or illegally asserted
and are refunded to the Administrative Agent or such member, the Administrative Agent or such member, as the case may be, shall
promptly forward to the applicable Credit Party any such refunded amount (after deduction of any Indemnified Tax or Other Tax paid
or payable by any member of the Lender Group as a result of such refund), not exceeding the increased amount paid by the applicable
Credit Party pursuant to this Section 2.9(b).


 


(iv)          Each
Lender and Issuing Bank shall severally indemnify the Administrative Agent, within ten (10) days after demand therefor, for (i)
any Indemnified Taxes attributable to such Lender or Issuing Bank (but only to the extent that a Credit Party has not already indemnified
the Administrative Agent for such Indemnified Taxes and without limiting the obligation of any Credit Party to do so), (ii) any
taxes attributable to such Lender’s failure to maintain a Participant Register as required by Section 10.5 and (iii) any
Excluded Taxes attributable to such Lender or Issuing Bank, in each case, that are payable or paid by the Administrative Agent
in connection with any Loan Document and any reasonable expenses arising therefrom or with respect thereto, whether or not such
taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such
payment or liability delivered to any Lender or Issuing Bank by the Administrative Agent or the Borrower, as applicable, shall
be conclusive absent manifest error. Each Lender and Issuing Bank hereby authorizes the Administrative Agent to set off and apply
any and all amounts at any time owing to such Lender or Issuing Bank under any Loan Document or otherwise payable by the Administrative
Agent to the Lender or Issuing Bank from any other source against any amount due to the Administrative Agent under this paragraph
(iv).


 




    	 	39	 



     


    

 


(v)          As soon
as practicable after the date of any payment of Indemnified Taxes or Other Taxes by a Credit Party to the relevant Governmental
Authority, the applicable Credit Party will deliver to the Administrative Agent, at its address, the original or a certified copy
of a receipt issued by such Governmental Authority evidencing payment thereof.


 


(vi)         Any
Lender that is entitled to an exemption from or reduction of withholding tax with respect to payments made under any Loan Document
shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative
Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will
permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably
requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably
requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether
or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary
in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set
forth in Sections 2.9(b)(vi)(A)- (C) 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. Without limiting the generality of the foregoing:


 


(A)          On
or prior to the Closing Date (or, in the case of any Lender that becomes a party to this Agreement pursuant to an Assignment and
Acceptance or pursuant to Section 2.16 or 2.17, on or prior to the effective date of such Assignment and Acceptance or joinder
pursuant to Section 2.16 or 2.17, each Lender which is organized in a jurisdiction other than the United States or a political
subdivision thereof (a “Foreign Lender”) shall provide each of the Administrative Agent and the Borrower with
either (A) two (2) properly executed originals of Form W-8ECI, Form W-8BEN, and Form W-8BEN-E (or any successor forms) prescribed
by the Internal Revenue Service or other documents satisfactory to the Borrower and the Administrative Agent, as the case may be,
certifying (1) as to such Foreign Lender’s status for purposes of determining exemption from United States withholding taxes
with respect to all payments to be made to such Foreign Lender hereunder and under any other Loan Documents or Bank Products Documents
or (2) that all payments to be made to such Foreign Lender hereunder and under any other Loan Documents and Bank Products Documents
are subject to such taxes at a rate reduced to zero by an applicable tax treaty, or (B)(1) a certificate executed by such Lender
certifying that such Lender is not a “bank” and that such Lender qualifies for the portfolio interest exemption under
Section 881(c) of the Code, and (2) two (2) properly executed originals of Internal Revenue Service Form W-8BEN or Form W-8BEN-E
(or any successor form), in each case, certifying such Lender’s entitlement to an exemption from United States withholding
tax with respect to payments of interest to be made hereunder or under any other Loan Documents or Bank Products Documents.


 




    	 	40	 



     


    

 


(B)          Any
Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative
Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax. Each such
Lender agrees to provide the Administrative Agent and the Borrower with new forms prescribed by the Internal Revenue Service upon
the expiration or obsolescence of any previously delivered form, or after the occurrence of any event requiring a change in the
most recent forms delivered by it to the Administrative Agent and the Borrower.


 


(C)          In
addition, if a payment made to a Lender, Administrative Agent, or Issuing Bank (and, in each case, any financial institution through
which any payment is made subject to such recipient) under any Loan Document would be subject to United States federal withholding
imposed by FATCA if such Lender, Administrative Agent, or Issuing Bank were to fail to comply with the applicable reporting requirements
of FATCA, such Lender, Administrative Agent, or Issuing Bank shall deliver to the Administrative Agent and the Borrower such forms
or other documents as shall be prescribed by Applicable Law, if any, or as otherwise reasonably requested, as may be necessary
for the Administrative Agent or the Borrower, as applicable, to determine that such payment is exempt from withholding under FATCA.


 


(vii)         The
Credit Parties shall not be required to indemnify any Lender, or to pay any additional amounts to such Lender pursuant to Section
2.9(b)(i) or (b)(iii) above to the extent that the obligation to withhold amounts with respect to United States Federal, state
or local withholding tax existed on the date such Lender became a party to this Agreement (or, in the case of an assignee, on the
effective date of the Assignment and Acceptance pursuant to which such assignee became a Lender) or, with respect to payments to
a new lending office, the date such Lender designated such new lending office; provided, however, that this clause
shall not apply to any Lender that became a Lender or new lending office that became a new lending office as a result of an assignment
or designation made at the request of the Borrower; and provided further, however, that this clause shall
not apply to the extent the indemnity payment or additional amounts, if any, that any member of the Lender Group through a new
lending office would be entitled to receive (without regard to this clause) do not exceed the indemnity payment or additional amounts
that the Person making the assignment or transfer to such member of the Lender Group making the designation of such new lending
office would have been entitled to receive in the absence of such assignment, transfer or designation.


 


(viii)         Nothing
contained in this Section 2.9(b) shall require any member of the Lender Group to make available to any Credit Party any of its
tax returns (or any other information) that it deems confidential or proprietary.


 


(ix)          If
any member of the Lender Group determines, in its sole discretion exercised in good faith, that it has received a refund of any
Indemnified Taxes as to which it has been indemnified pursuant to this Section 2.9(b) (including additional amounts paid pursuant
to this Section 2.9(b)), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity
payments made under this Section 2.9(b) with respect to the Indemnified Taxes giving rise to such refund), net of all out-of-pocket
expenses (including any Indemnified Taxes) of such member of the Lender Group and without interest (other than any interest paid
by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified
party, shall repay to such indemnified party the amount paid over pursuant to this Section 2.9(b)(ix) (plus any penalties, interest
or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay
such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 2.9(b)(ix), in no event will
the indemnified party be required to pay any amount to an indemnifying party pursuant to this Section 2.9(b)(ix) the payment of
which would place the indemnified party in a less favorable net after-tax position than the indemnified party would have been in
if the tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the
indemnification payments or additional amounts with respect to such tax had never been paid. This paragraph shall not be construed
to require any indemnified party to make available its tax returns (or any other information relating to its Indemnified Taxes
that it deems confidential) to the indemnifying party or any other Person.


 




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Section 2.10          Reimbursement.
Whenever any Lender shall sustain or incur any losses or out-of-pocket expenses as a result of (a) failure by the Borrower to borrow
or continue any Eurodollar Loan, or convert any Base Rate Loan to a Eurodollar Loan, in each case, after having given notice of
its intention to do so in accordance with Section 2.3 (whether by reason of the election of the Borrower not to proceed or the
non-fulfillment of any of the conditions set forth in this Agreement), or (b) prepayment of any Eurodollar Loan in whole or in
part for any reason other than at the end of the applicable Eurodollar Loan Period for such Eurodollar Loan or (c) failure by the
Borrower to prepay any Eurodollar Loan after giving notice of its intention to prepay such Eurodollar Loan, the Borrower agrees
to pay to such Lender, promptly upon such Lender’s demand therefor, an amount sufficient to compensate such Lender for all
such losses and out-of-pocket expenses. Such Lender’s good faith determination of the amount of such losses and out-of-pocket
expenses, absent manifest error, shall be binding and conclusive. Losses subject to reimbursement hereunder shall include, without
limitation, expenses incurred by any Lender or any participant of such Lender permitted hereunder in connection with the re-deployment
of funds prepaid, repaid, not borrowed, or paid, as the case may be, over the remainder of the Eurodollar Loan Period for such
prepaid Loan. For purposes of calculating amounts payable to a Lender under this paragraph, each applicable Lender shall be deemed
to have actually funded its relevant Eurodollar Loan through the purchase of a deposit bearing interest at the Eurodollar Rate
in an amount equal to the amount of that Eurodollar Loan and having a maturity and repricing characteristics comparable to the
relevant Eurodollar Loan Period; provided, however, that each applicable Lender may fund each of its Eurodollar Loans
in any manner it sees fit, and the foregoing assumption shall be utilized only for the calculation of amounts payable under this
Section.


 


Section 2.11         Pro
Rata Treatment.


 


(a)          Loans.
Each Loan under the Revolving Loan Commitment and DDTL Commitment, as applicable, shall be made pro rata by the Lenders on the
basis of the respective Revolving Commitment Percentages and DDTL Commitment Percentages.


 


(b)          Payments.
Each payment and prepayment of the Loans, and each payment of interest on the Loans received from the Borrower, shall be made by
the Administrative Agent to the Lenders pro rata on the basis of their respective Revolving Commitment Percentages or DDTL Commitment
Percentages, as applicable (except (i) in cases when a Lender’s right to receive payments is restricted pursuant to Section
2.15 and (ii) as permitted by Sections 2.6(d) and 2.16). If any Lender shall obtain any payment (whether involuntary, through the
exercise of any right of set-off or otherwise) on account of the Loans in excess of its ratable share of Loans based on its Revolving
Commitment Percentage or DDTL Commitment Percentage, as applicable (or in violation of any restriction set forth in Section 2.15),
such Lender shall forthwith purchase from the other Lenders such participations in the Loans made by them as shall be necessary
to cause such purchasing Lender to share the excess payment ratably with each of them; provided, however, that if
all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender shall
be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the extent of such recovery without interest
thereon unless the Lender obligated to repay such amount is required to pay interest. The Borrower agrees that any Lender so purchasing
a participation from another Lender pursuant to this Section 2.11(b) may, to the fullest extent permitted by law, exercise all
its rights of payment (including the right of set-off) with respect to such participation as fully as if such Lender were the direct
creditor of the Borrower in the amount of such participation.


 




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Section 2.12         Application
of Payments.


 


(a)          Prior to the exercise
of remedies pursuant to Section 8.2, including acceleration of the Obligations, all amounts received by the Administrative Agent
from the Borrower (other than payments specifically earmarked for application to certain principal, interest, fees or expenses
hereunder or payments made pursuant to Section 2.7(c) (which shall be applied as earmarked or, with respect to payments under Section
2.7(c), as set forth in Section 2.7(c)) shall be distributed by the Administrative Agent in the following order of priority:


 


FIRST, to the payment of out-of-pocket
expenses (including, without limitation, reasonable attorneys’ fees) of the Administrative Agent with respect to enforcing
the rights of the Lenders under the Loan Documents, in each case to the extent required to be reimbursed by the Borrower pursuant
to Section 10.2;


 


SECOND, to the payment of any
fees owed to the Administrative Agent, the Issuing Bank or the Swing Bank under the Loan Documents;


 


THIRD, to the payment of all
accrued fees and interest payable to the Lenders under this Agreement;


 


FOURTH, to the payment of principal
then due and payable on the Swing Loans;


 


FIFTH, to the payment of principal
then due and payable on the Revolving Loans and DDTL Loans; 


 


SIXTH, to the payment of the
Bank Products Obligations then due and payable;


 


SEVENTH, to the payment of all
other Obligations not otherwise referred to in this Section 2.12(a) then due and payable; and


 


EIGHTH, upon satisfaction in
full of all Obligations, to the applicable Credit Party or such other Person who may be lawfully entitled thereto.


 


(b)          Notwithstanding
anything in this Agreement or any other Loan Documents which may be construed to the contrary, subsequent to the exercise of remedies
pursuant to Section 8.2, including acceleration of the Obligations, payments and prepayments with respect to the Obligations made
to the Administrative Agent for the benefit of the Lenders, the Lender Group, or any of them, or otherwise received by any member
of the Lender Group shall be distributed in the following order of priority (subject to Section 2.11):


 




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FIRST, to the payment of out-of-pocket
expenses (including without limitation indemnification and reasonable attorneys’ fees) of the Administrative Agent with respect
to enforcing the rights of the Lenders under the Loan Documents, in each case to the extent required to be reimbursed by the Borrower
pursuant to Section 10.2;


 


SECOND, to the payment of any
fees owed to the Administrative Agent, the Issuing Bank or the Swing Bank under the Loan Documents;


 


THIRD, to the payment of out-of-pocket
expenses (including without limitation indemnification and reasonable attorneys’ fees) of the Lenders with respect to enforcing
their rights under the Loan Documents, in each case to the extent required to be reimbursed by the Borrower pursuant to Section
10.2;


 


FOURTH, to the payment of all
accrued fees and interest payable to the Lenders under this Agreement;


 


FIFTH, to the payment of the
principal of the Swing Loans then outstanding;


 


SIXTH, pro rata, to (i) the payment
of principal on the Revolving Loans; (ii) the payment of principal on the DDTL Loans, (iii) the Letter of Credit Reserve Account
to the extent of one hundred three percent (103%) of any Letter of Credit Obligations; and (iv) to the Bank Products Obligations;
provided, however, that no proceeds realized from any Guaranty of a Credit Party who is not a Qualified ECP Guarantor
shall be applied to the payment of Hedge Obligations;


 


SEVENTH, to any other Obligations
not otherwise referred to in this Section 2.12(b); and


 


EIGHTH, upon satisfaction in
full of all Obligations, to the applicable Credit Party or such other Person who may be lawfully entitled thereto.


 


Section 2.13         All
Obligations to Constitute One Obligation. All Obligations shall constitute one general obligation of the Borrower.


 


Section 2.14          Maximum
Rate of Interest. The Borrower and the Lender Group hereby agree and stipulate that the only charges imposed upon the Borrower
for the use of money in connection with this Agreement are and shall be the specific interest and fees described in this Article
2 and in any other Loan Document. Notwithstanding the foregoing, the Borrower and the Lender Group further agree and stipulate
that all closing fees, agency fees, syndication fees, facility fees, underwriting fees, default charges, late charges, funding
or “breakage” charges, increased cost charges, attorneys’ fees and reimbursement for costs and expenses paid
by any member of the Lender Group to third parties or for damages incurred by the Lender Group, or any of them, are charges to
compensate the Lender Group for underwriting and administrative services and costs or losses performed or incurred, and to be performed
and incurred, by the Lender Group in connection with this Agreement and the other Loan Documents and shall under no circumstances
be deemed to be charges for the use of money pursuant to any Applicable Law. In no event shall the amount of interest and other
charges for the use of money payable under this Agreement exceed the maximum amounts permissible under any law that a court of
competent jurisdiction shall, in a final determination, deem applicable. The Borrower and the Lender Group, in executing and delivering
this Agreement, intend legally to agree upon the rate or rates of interest and other charges for the use of money and manner of
payment stated within it; provided, however, that, anything contained herein to the contrary notwithstanding, if
the amount of such interest and other charges for the use of money or manner of payment exceeds the maximum amount allowable under
Applicable Law, then, ipso facto as of the Closing Date, the Borrower is and shall be liable only for the payment
of such maximum as allowed by law, and payment received from the Borrower in excess of such legal maximum, whenever received, shall
be applied to reduce the principal balance of the Loans to the extent of such excess.


 




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Section 2.15         Defaulting
Lenders.


 


(a)          Cash Collateral.


 


(i)          At any
time that there shall exist a Defaulting Lender, within three (3) Business Days following the written request of the Administrative
Agent or the Issuing Bank (with a copy to the Administrative Agent) the Borrower shall Cash Collateralize the Letter of Credit
Obligations in an amount equal to the portion of such Letter of Credit Obligations with respect to such Defaulting Lender (determined
after giving effect to Section 2.15(b)(v) and any cash collateral provided by such Defaulting Lender) in an amount not less
than 103% of the portion of the Letter of Credit Obligations of such Defaulting Lender.


 


(ii)          The
Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants to the Administrative Agent,
for the benefit of the Issuing Bank, and agrees to maintain, a first priority security interest in all such cash collateral as
security for the Defaulting Lender’s obligation to fund participations in respect of Letters of Credit, to be applied pursuant
to clause (iii) below. If at any time the Administrative Agent determines that such cash collateral is subject to any right or
claim of any Person other than the Administrative Agent and the Issuing Bank as herein provided, or that the total amount of such
cash collateral is less than the minimum amount required pursuant to clause (i) above, the Borrower will, promptly upon demand
by the Administrative Agent, pay or provide to the Administrative Agent additional cash collateral in an amount sufficient to eliminate
such deficiency (after giving effect to any cash collateral provided by the Defaulting Lender).


 


(iii)          Notwithstanding
anything to the contrary contained in this Agreement, cash collateral provided under this Section 2.15(a) or Section 2.15(b) in
respect of Letters of Credit shall be applied to the satisfaction of the Defaulting Lender’s obligation to fund participations
in respect of Letters of Credit or Letter of Credit Obligations (including, as to cash collateral provided by a Defaulting Lender,
any interest accrued on such obligation) for which the cash collateral was so provided, prior to any other application of such
property as may otherwise be provided for herein.


 


(iv)          Cash
collateral (or the appropriate portion thereof) provided to secure any Letter of Credit Obligations shall no longer be required
pursuant to this Section 2.15(a) following the earliest to occur of (A) the elimination of the applicable Letter of Credit Obligations
(including by the termination of Defaulting Lender status of the applicable Lender), (B) the determination by the Administrative
Agent and the Issuing Bank that there exists excess cash collateral and (C) the determination that the applicable Defaulting Lender
is no longer a Defaulting Lender; provided that, subject to Section 2.15(b) through (d) the Person providing cash collateral
and each Issuing Bank may agree that cash collateral shall be held to support future anticipated Letter of Credit Obligations or
other obligations.


 




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


 


(i)          Such
Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall
be restricted as set forth in the definition of “Required Lenders” and in Section 10.12.


 


(ii)          Any
payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Section 2.12 or otherwise) or received by the Administrative Agent from
a Defaulting Lender pursuant to Section 10.4 shall be applied at such time or times as may be determined by the Administrative
Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder;
second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the Issuing Bank or Swing Bank
hereunder; third, to Cash Collateralize the Letter of Credit Obligations with respect to such Defaulting Lender in accordance
with Section 2.15(a); fourth, as the Borrower may request (so long as no Event of Default exists), to the funding of any
Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined
by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a deposit
account and released pro rata in order to (x) satisfy such Defaulting Lender’s potential future funding obligations with
respect to Loans under this Agreement and (y) Cash Collateralize future Letter of Credit Obligations with respect to such Defaulting
Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.15(a); sixth,
to the payment of any amounts owing to the Lenders, the Issuing Bank or the Swing Bank as a result of any judgment of a court of
competent jurisdiction obtained by any Lender, the Issuing Bank or the Swing Bank against such Defaulting Lender as a result of
such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of
Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction
obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations
under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction;
provided that if (x) such payment is a payment of any Loans or Letter of Credit Obligations in respect of which such Defaulting
Lender has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at
a time when the conditions set forth in Section 4.2 were satisfied or waived, such payment shall be applied solely to pay the Loans
of, and Letter of Credit Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment
of any Loans of, or Letter of Credit Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded
participations in Letter of Credit Obligations and Swing Loans are held by the Lenders pro rata in accordance with the Revolving
Loan Commitments without giving effect to sub-section (iv) below. Any payments, prepayments or other amounts paid or payable to
a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to
this Section 2.15(b)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents
hereto.


 




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(iii)          No
Defaulting Lender shall be entitled to receive any Commitment Fee or Ticking Fee pursuant to Section 2.5 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). Each Defaulting Lender shall be entitled to receive Letter of Credit
fees pursuant to Section 2.5(c) for any period during which that Lender is a Defaulting Lender only to the extent allocable to
its Revolving Commitment Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant
to Section 2.15(a).


 


(iv)          With
respect to any Commitment Fee, Ticking Fee or Letter of Credit fee not required to be paid to any Defaulting Lender pursuant to
clause (iii) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any Commitment Fee or Letter of Credit
fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in Letters of Credit
or Swing Loans that has been reallocated to such Non-Defaulting Lender pursuant to clause (v) below, (y) to the extent any portion
of such Defaulting Lender’s participation in Letters of Credit or Swing Loans cannot be so reallocated, pay to each Issuing
Bank and Swing Bank, as applicable, the amount of any Commitment Fee or Letter of Credit fee otherwise payable to such Defaulting
Lender to the extent allocable to such Issuing Bank’s or Swing Bank’s Fronting Exposure to such Defaulting Lender,
and (z) not be required to pay the remaining amount of any such Commitment Fee, Ticking Fee or Letter of Credit fee.


 


(v)          All
or any part of such Defaulting Lender’s participation in Letters of Credit and Swing Loans shall be reallocated among the
Non-Defaulting Lenders in accordance with their respective pro rata shares (based on its Revolving Commitment Percentage) of the
Revolving Loan Commitment (calculated without regard to such Defaulting Lender’s portion of the Revolving Loan Commitment)
but only to the extent that such reallocation does not cause the Revolving Credit Obligations of any Non-Defaulting Lender to exceed
such Non-Defaulting Lender’s portion of the Revolving Loan Commitment. Subject to Section 10.23, no reallocation hereunder
shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having
become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased
exposure following such reallocation.


 


(vi)          If
the reallocation described in clause (v) above cannot, or can only partially, be effected, the Borrower shall, without prejudice
to any right or remedy available to it hereunder or under law, (x) first, prepay Swing Loans in an amount equal to the Swing Loans
with respect to such Defaulting Lender and (y) second, Cash Collateralize the Letter of Credit Obligations with respect to such
Defaulting Lender in accordance with the procedures set forth in Section 2.15(a).


 


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


 




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(d)          New Swing Loans/Letters
of Credit. So long as any Lender is a Defaulting Lender, (i) the Swing Bank shall not be required to fund any Swing Loans unless
it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Loan and (ii) no Issuing Bank shall be
required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure
after giving effect thereto.          


 


Section 2.16         Extension
of Maturity Date.


 


(a)          Revolving Loan
Maturity Date.


 


(i)          After
the first anniversary of the Closing Date, but at least forty-five (45) days prior to the Revolving Loan Maturity Date then in
effect, the Borrower may, by written notice to the Administrative Agent, request that the Revolving Loan Maturity Date then in
effect be extended by one calendar year, effective as of a date selected by the Borrower (the “Revolving Loan Extension
Effective Date”); provided, that (i) the Borrower may only make one such request in any calendar year and no more
than two such requests during the term of this Agreement and (ii) the Revolving Loan Extension Effective Date shall be at least
forty-five (45) days, but not more than 60 days, after the date such extension request is received by the Administrative Agent
(the “Revolving Loan Extension Request Date”). Upon receipt of the extension request, the Administrative Agent
shall promptly notify each Lender of such request. If a Lender agrees, in its sole discretion, to so extend the Revolving Loan
Maturity Date applicable to its Revolving Loan Commitment (a “Extending Revolving Loan Lender”), it shall deliver
to the Administrative Agent a written notice of its agreement to do so no later than fifteen (15) days after the Revolving Loan
Extension Request Date (or such later date to which the Borrower and the Administrative Agent shall agree), and the Administrative
Agent shall promptly thereafter notify the Borrower of such Extending Revolving Loan Lender's agreement to extend the Revolving
Loan Maturity Date applicable to such Lender’s Revolving Loan Commitment (and such agreement shall be irrevocable). The Revolving
Loan Commitment of any Lender that fails to accept or respond to the Borrower’s request for an extension of the Revolving
Loan Maturity Date (a “Declining Revolving Loan Lender”) shall be terminated on the Revolving Loan Maturity
Date then in effect for such Lender (without regard to any extension by other Lenders) and on such Revolving Loan Maturity Date
the Borrower shall pay in full the Revolving Loans owing to such Declining Revolving Loan Lender, together with all accrued interest
thereon and all accrued Commitment Fees and Letter of Credit fees owing to such Declining Revolving Loan Lender under this Agreement
and (to the extent that such Declining Revolving Loan Lender shall cease to be a Lender under this Agreement as of such date) all
other amounts due to such Declining Revolving Loan Lender under this Agreement.


 




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(ii)          The
Administrative Agent shall promptly notify each Extending Revolving Loan Lender of the aggregate Revolving Loan Commitments of
the Declining Revolving Loan Lenders. Each Extending Revolving Loan Lender may offer to increase its respective Revolving Loan
Commitment by an amount not to exceed the aggregate amount of the Declining Revolving Loan Lenders' Revolving Loan Commitments,
and such Extending Revolving Loan Lender shall deliver to the Administrative Agent a notice of its offer to so increase its Revolving
Loan Commitment no later than thirty (30) days after the Revolving Loan Extension Request Date (or such later date to which the
Borrower and the Administrative Agent shall agree), and such offer shall be irrevocable. To the extent the aggregate amount of
additional Revolving Loan Commitments that the Extending Revolving Loan Lenders offer pursuant to the preceding sentence exceeds
the aggregate amount of the Declining Revolving Loan Lenders' Revolving Loan Commitments, such additional Revolving Loan Commitments
shall be reduced on a pro rata basis. To the extent the aggregate amount of Revolving Loan Commitments that the Extending Revolving
Loan Lenders have so offered to extend is less than the aggregate amount of Revolving Loan Commitments that the Borrower has so
requested to be extended, the Borrower shall have the right to seek additional Revolving Loan Commitments from other Eligible Assignees.
Once the Borrower has obtained offers to provide the full amount of any Declining Revolving Loan Lender’s Commitments (whether
from Extending Revolving Loan Lenders or other Persons), the Borrower shall have the right but not the obligation to require any
Declining Revolving Loan Lender to (and any such Declining Revolving Loan Lender shall) assign in full its rights and obligations
under this Agreement to one or more Eligible Assignees (which may be, but need not be, one or more of the Extending Revolving Loan
Lenders) which at the time agree to, in the case of any such Person that is an Extending Revolving Loan Lender, increase its Revolving
Loan Commitment and in the case of any other such Person (a “New Revolving Loan Lender”) become a party to this
Agreement; provided that (i) such assignment is otherwise in compliance with Section 10.5, (ii) such Declining Revolving
Loan Lender receives payment in full of the Revolving Loans owing to such Declining Revolving Loan Lender, together with all accrued
interest thereon and all Commitment Fees and Letter of Credit fees accrued under this Agreement and (to the extent that such Declining
Revolving Loan Lender shall cease to be a Lender under this Agreement as of such date) all other amounts due to such Declining
Revolving Loan Lender under this Agreement and (iii) any such assignment shall be effective on the date on or before such Revolving
Loan Extension Effective Date as may be specified by the Borrower and agreed to by the respective New Revolving Loan Lenders and
Extending Revolving Loan Lenders, as the case may be, and the Administrative Agent.


 


(iii)          If,
but only if, Extending Revolving Loan Lenders and New Revolving Loan Lenders, as the case may be, with aggregate Revolving Commitment
Percentages greater than 50% have agreed to extend the Revolving Loan Maturity Date and the conditions precedent in Section 4.2
are met, the Revolving Loan Maturity Date in effect with respect to the Revolving Loan Commitments of such Extending Revolving
Loan Lenders and New Revolving Loan Lenders shall be extended by twelve (12) months.


 


(b)          DDTL Maturity
Date.


 


(i)          After
the first anniversary of the Closing Date, but at least forty-five (45) days prior to the DDTL Maturity Date then in effect, the
Borrower may, by written notice to the Administrative Agent, request that the DDTL Maturity Date then in effect be extended by
one calendar year, effective as of a date selected by the Borrower (the “DDTL Extension Effective Date”); provided,
that (i) the Borrower may only make one such request in any calendar year and no more than two such requests during the term of
this Agreement and (ii) the DDTL Extension Effective Date shall be at least forty-five (45) days, but not more than 60 days, after
the date such extension request is received by the Administrative Agent (the “DDTL Extension Request Date”).
Upon receipt of the extension request, the Administrative Agent shall promptly notify each Lender of such request. If a Lender
agrees, in its sole discretion, to so extend the DDTL Maturity Date applicable to its DDTL Commitment (an “Extending DDTL
Lender”), it shall deliver to the Administrative Agent a written notice of its agreement to do so no later than fifteen
(15) days after the DDTL Extension Request Date (or such later date to which the Borrower and the Administrative Agent shall agree),
and the Administrative Agent shall promptly thereafter notify the Borrower of such Extending DDTL Lender's agreement to extend
the DDTL Maturity Date applicable to such Lender’s DDTL Commitment (and such agreement shall be irrevocable). The DDTL Commitment
of any Lender that fails to accept or respond to the Borrower’s request for an extension of the DDTL Maturity Date (a “Declining
DDTL Lender”) shall be terminated on the DDTL Maturity Date then in effect for such Lender (without regard to any extension
by other Lenders) and on such DDTL Maturity Date the Borrower shall pay in full the DDTL Loans owing to such Declining DDTL Lender,
together with all accrued interest thereon and all accrued Ticking Fees owing to such Declining DDTL Lender under this Agreement
and (to the extent that such Declining DDTL Lender shall cease to be a Lender under this Agreement as of such date) all other amounts
due to such Declining DDTL Lender under this Agreement.


 




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(ii)          The
Administrative Agent shall promptly notify each Extending DDTL Lender of the aggregate DDTL Loans of the Declining DDTL Lenders.
Each Extending DDTL Lender may offer to increase its respective DDTL Loan by an amount not to exceed the aggregate amount of the
Declining DDTL Lenders' DDTL Loans, and such Extending DDTL Lender shall deliver to the Administrative Agent a notice of its offer
to so increase its DDTL Loan no later than 30 days after the DDTL Extension Request Date (or such later date to which the Borrower
and the Administrative Agent shall agree), and such offer shall be irrevocable. To the extent the aggregate amount of additional
DDTL Loans that the Extending DDTL Lenders offer pursuant to the preceding sentence exceeds the aggregate amount of the Declining
DDTL Lenders' DDTL Loans, such additional DDTL Loans shall be reduced on a pro rata basis. To the extent the aggregate amount of
DDTL Loans that the Extending DDTL Lenders have so offered to extend is less than the aggregate amount of DDTL Loans that the Borrower
has so requested to be extended, the Borrower shall have the right to seek additional DDTL Loans from other Eligible Assignees.
Once the Borrower has obtained offers to provide the full amount of any Declining DDTL Lender’s Loans (whether from Extending
DDTL Lenders or other Persons), the Borrower shall have the right but not the obligation to require any Declining DDTL Lender to
(and any such Declining DDTL Lender shall) assign in full its rights and obligations under this Agreement to one or more Eligible
Assignees (which may be, but need not be, one or more of the Extending DDTL Lenders) which at the time agree to, in the case of
any such Person that is an Extending DDTL Lender, increase its DDTL Loan and in the case of any other such Person (a “New
DDTL Lender”) become a party to this Agreement; provided that (i) such assignment is otherwise in compliance with
Section 10.5, (ii) such Declining DDTL Lender receives payment in full of the DDTL Loans owing to such Declining DDTL Lender, together
with all accrued interest thereon and all Ticking Fees accrued under this Agreement and (to the extent that such Declining DDTL
Lender shall cease to be a Lender under this Agreement as of such date) all other amounts due to such Declining DDTL Lender under
this Agreement and (iii) any such assignment shall be effective on the date on or before such DDTL Extension Effective Date as
may be specified by the Borrower and agreed to by the respective New DDTL Lenders and Extending DDTL Lenders, as the case may be,
and the Administrative Agent.


 




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(iii)          If,
but only if, Extending DDTL Lenders and New DDTL Lenders, as the case may be, with aggregate DDTL Commitment Percentages greater
than 50% have agreed to extend the DDTL Maturity Date and the conditions precedent in Section 4.2 are met, the DDTL Maturity Date
in effect with respect to the DDTL Commitments of such Extending DDTL Lenders and New DDTL Lenders shall be extended by twelve
(12) months.


 


Section 2.17         Incremental
Revolving Loan Commitment.


 


(a)          Request for
Increase. Provided that no Default or Event of Default shall have occurred and be continuing at such time or would result therefrom,
upon written notice (the “Increase Notice”) to the Administrative Agent (which shall promptly notify the Lenders
and provide the Lenders with a copy of the Increase Notice), the Borrower may, at any time, request up to four (4) increases in
the Revolving Loan Commitment in an amount not less than $25,000,000 per increase and not more than $500,000,000 in the aggregate.
The Borrower (in consultation with the Administrative Agent) shall specify in the Increase Notice (A) the time period within which
each Lender is requested to respond (which shall in no event be less than ten (10) Business Days from the date on which the Increase
Notice was provided to such Lenders by the Administrative Agent); (B) the amount of the requested increase in the Revolving Loan
Commitment; and (C) the date on which such increase is requested to become effective. For the avoidance of doubt, the parties hereto
acknowledge and agree that any increase in the Revolving Loan Commitment provided pursuant to this Section 2.17 shall be deemed
to be Revolving Loan Commitments made hereunder and shall have the same terms and conditions as the existing Revolving Loan Commitments
hereunder including, without limitation, the same Maturity Date and Applicable Margin.


 


(b)          Lender Elections
to Increase. None of the Lenders nor the Issuing Bank shall have any obligation to provide any additional amounts requested
by the Borrower. If any Lender wishes to increase its portion of the Revolving Loan Commitment, such Person must provide to the
Administrative Agent, within the time period specified in the Increase Notice, a written commitment for the amount of such Lender’s
requested allocation of the additional portion of the Revolving Loan Commitment specified in the Increase Notice. Any Lender that
does not provide its written commitment within the time period specified in the Increase Notice shall be deemed to have declined
to increase its portion of the Revolving Loan 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 under Section 2.17(b). If the aggregate increase provided by the existing Lenders is less than the requested
increase, subject to the approval of the Administrative Agent (such approval not to be unreasonably withheld), the Borrower may
invite additional Eligible Assignees to become Lenders, pursuant to a joinder agreement in form and substance satisfactory to the
Administrative Agent and its counsel.


 


(d)          Effective Date
and Allocations. If the Revolving Loan Commitment is increased in accordance with this Section 2.17, the Administrative Agent
and the Borrower shall determine the effective date (the “Increase Effective Date”) and the final allocation
of such increase, but in no event will the allocation be greater than the participating Lender’s Revolving Commitment Percentage
without such Lender’s consent. The Administrative Agent shall promptly notify the Borrower and the Lenders, including any
proposed new lenders, of the final allocation of such increase and the Increase Effective Date. From and after the Increase Effective
Date, subject to the satisfaction of the conditions specified in Section 2.17(e) below, the Revolving Loan Commitment shall be
increased and the new lenders shall be Lenders for all purposes under this Agreement. On the Increase Effective Date, the Borrower,
each Lender that is increasing its portion of the Revolving Loan Commitment, each additional Eligible Assignee that is becoming
an additional Lender and the Credit Parties shall execute and deliver to the Administrative Agent such documentation as the Administrative
Agent shall reasonably specify (including any Assignments and Acceptances and new or replacement Revolving Loan Notes, as requested
by the Lenders) to give effect to any such increase in the Revolving Loan Commitment. This Agreement shall be deemed amended to
the extent (but only to the extent) necessary to increase the Revolving Loan Commitment in accordance with this Section 2.17.


 




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(e)          Conditions
to Effectiveness of Increase. As a condition precedent to such increase, all conditions precedent in Section 4.2 must be satisfied
and the Borrower shall deliver to the Administrative Agent a certificate of each Credit Party (A) dated as of the Increase Effective
Date (with sufficient copies for each Lender if requested by the Administrative Agent) signed by the chief financial officer, treasurer
or an officer with similar responsibilities of the Borrower approving or consenting to such increase, (B) certifying that (1) the
resolutions authorizing such increase are true, correct, and effective as of the Increase Effective Date and, before and after
giving effect to such increase, the representations and warranties contained in Article 5 and the other Loan Documents are true
and correct in all material respects on and as of the Increase Effective Date, except to the extent that such representations and
warranties expressly relate solely to an earlier date in which case such representations and warranties shall have been true and
correct in all material respects on and as of such earlier date, and except that for purposes of this Section 2.17, the representations
and warranties contained in Section 5.1(i) shall be deemed to refer to the most recent statements furnished pursuant to Sections
6.1 or 6.2, (2) no Default or Event of Default exists and is continuing, and (3) both before and after giving effect to such increase,
as evidenced by a Compliance Certificate, the Borrower is in compliance with the Financial Covenants for the four (4) fiscal quarter
period immediately preceding the Increase Effective Date for which financial statements for the Borrower have been delivered pursuant
to Sections 6.1 or 6.2. The Borrower shall, at the request of the Administrative Agent, deliver such opinions of counsel as the
Administrative Agent may request in its reasonable discretion. In the event of an increase in the Revolving Loan Commitment in
accordance with this Section 2.17, the Borrower shall prepay any Revolving Loans outstanding on the Increase Effective Date to
the extent necessary to keep the outstanding Revolving Loans ratable with any revised Revolving Commitment Percentages arising
from any nonratable increase in the Lenders’ respective portions of the Revolving Loan Commitment under this Section (and
Borrower shall be liable for any costs under Section 2.10 to the extent requested by a Lender in accordance with Section 2.10).


 


(f)          The parties hereto
hereby acknowledge and agree that any increase in the Revolving Loan Commitment in accordance with this Section 2.17 shall not
increase the Letter of Credit Commitment.


 


(g)          This Section 2.17
shall supersede any provisions in Section 2.11 to the contrary.


 


ARTICLE
3




GUARANTY


 


Section 3.1          Guaranty.


 


(a)          Each Guarantor
hereby, jointly and severally, guarantees to the Administrative Agent, for the benefit of the Lender Group, the full and prompt
payment of the Obligations, including, without limitation, any interest therein (including, without limitation, interest as provided
in this Agreement, accruing after the filing of a petition initiating any insolvency proceedings, whether or not such interest
accrues or is recoverable against the Borrower after the filing of such petition for purposes of the Bankruptcy Code or is an allowed
claim in such proceeding), plus reasonable attorneys’ fees and expenses (to the extent such fees and expenses are required
to be reimbursed by the Borrower pursuant to Section 10.2) if the obligations represented by this Guaranty are collected by law,
through an attorney-at-law, or under advice therefrom.


 




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(b)          Regardless of
whether any proposed guarantor or any other Person shall become in any other way responsible to the Lender Group, or any of them,
for or in respect of the Obligations or any part thereof, and regardless of whether or not any Person now or hereafter responsible
to the Lender Group, or any of them, for the Obligations or any part thereof, whether under this Guaranty or otherwise, shall cease
to be so liable, each Guarantor hereby declares and agrees that this Guaranty shall be a joint and several obligation, shall be
a continuing guaranty and shall be operative and binding until the Obligations shall have been indefeasibly paid in full in cash
(or in the case of Letter of Credit Obligations, secured through delivery of cash collateral in an amount equal to one hundred
and three percent (103%) of the Letter of Credit Obligations) and the Commitments shall have been terminated.


 


(c)          Each Guarantor
absolutely, unconditionally and irrevocably waives any and all right to assert any defense (other than the defense of payment in
cash in full, to the extent of its obligations hereunder, or a defense that such Guarantor’s liability is limited as provided
in Section 3.1(g)), set-off, counterclaim or cross-claim of any nature whatsoever with respect to this Guaranty or the obligations
of the Guarantors under this Guaranty or the obligations of any other Person or party (including, without limitation, the Borrower)
relating to this Guaranty or the obligations of any of the Guarantors under this Guaranty or otherwise with respect to the Obligations
in any action or proceeding brought by the Administrative Agent or any other member of the Lender Group to collect the Obligations
or any portion thereof, or to enforce the obligations of any of the Guarantors under this Guaranty.


 


(d)          The Lender Group,
or any of them, may from time to time, without exonerating or releasing any Guarantor in any way under this Guaranty, (i) take
such security or securities for the Obligations or any part thereof as they may deem proper, or (ii) release, discharge, abandon
or otherwise deal with or fail to deal with any Guarantor of the Obligations or any security or securities therefor or any part
thereof now or hereafter held by the Lender Group, or any of them, or (iii) amend, modify, increase, extend, accelerate or waive
in any manner any of the provisions, terms, or conditions of the Loan Documents, all as they may consider expedient or appropriate
in their sole and absolute discretion. Without limiting the generality of the foregoing, or of Section 3.1(e), it is understood
that the Lender Group, or any of them, may, without exonerating or releasing any Guarantor, give up, modify or abstain from perfecting
or taking advantage of any security for the Obligations and accept or make any compositions or arrangements, and realize upon any
security for the Obligations when, and in such manner, and with or without notice, all as such Person may deem expedient.


 


(e)          Each Guarantor
acknowledges and agrees that no change in the nature or terms of the Obligations or any of the Loan Documents, or other agreements,
instruments or contracts evidencing, related to or attendant with the Obligations (including any novation), shall discharge all
or any part of the liabilities and obligations of such Guarantor pursuant to this Guaranty; it being the purpose and intent of
the Guarantors and the Lender Group that the covenants, agreements and all liabilities and obligations of each Guarantor hereunder
are absolute, unconditional and irrevocable under any and all circumstances. Without limiting the generality of the foregoing,
each Guarantor agrees that until the performance of and payment in full in cash of the Obligations (without possibility of recourse,
whether by operation of law or otherwise) and the termination of the Commitments, such Guarantor’s undertakings hereunder
shall not be released, in whole or in part, by any action or thing which might, but for this paragraph of this Guaranty, be deemed
a legal or equitable discharge of a surety or guarantor, or by reason of any waiver, omission of the Lender Group, or any of them,
or their failure to proceed promptly or otherwise, or by reason of any action taken or omitted by the Lender Group, or any of them,
whether or not such action or failure to act varies or increases the risk of, or affects the rights or remedies of, such Guarantor
or by reason of any further dealings between the Borrower, on the one hand, and any member of the Lender Group, on the other hand,
or any other guarantor or surety, and such Guarantor hereby expressly waives and surrenders any defense to its liability hereunder,
or any right of counterclaim or offset of any nature or description which it may have or may exist based upon, and shall be deemed
to have consented to, any of the foregoing acts, omissions, things, agreements or waivers.


 




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(f)          The Lender Group,
or any of them, may, without demand or notice of any kind upon or to any Guarantor, at any time or from time to time when any amount
shall be due and payable hereunder by any Guarantor, if the Borrower shall not have timely paid any of the Obligations (or in the
case of Letter of Credit Obligations, secured through delivery of cash collateral in an amount equal to one hundred and three percent
(103%) of the Letter of Credit Obligations), set-off and appropriate and apply to any portion of the Obligations hereby guaranteed,
and in such order of application as the Administrative Agent may from time to time elect in accordance with this Agreement, any
deposits, property, balances, credit accounts or moneys of any Guarantor in the possession of any member of the Lender Group or
under their respective control for any purpose. If and to the extent that any Guarantor makes any payment to the Administrative
Agent or any other Person pursuant to or in respect of this Guaranty, any claim which such Guarantor may have against the Borrower
by reason thereof shall be subject and subordinate to the prior payment in full in cash of the Obligations to the satisfaction
of the Lender Group and the termination of the Commitments.


 


(g)          The creation or
existence from time to time of Obligations in excess of the amount committed to or outstanding on the date of this Guaranty is
hereby authorized, without notice to any Guarantor, and shall in no way impair or affect this Guaranty or the rights of the Lender
Group herein. It is the intention of each Guarantor and the Administrative Agent that each Guarantor’s obligations hereunder
shall be, but not in excess of, the Maximum Guaranteed Amount (as herein defined). The “Maximum Guaranteed Amount”
with respect to any Guarantor, shall mean the maximum amount which could be paid by such Guarantor without rendering this Guaranty
void or voidable as would otherwise be held or determined by a court of competent jurisdiction in any action or proceeding involving
any state or Federal bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws relating to
the insolvency of debtors.


 


(h)          Upon the bankruptcy
or winding up or other distribution of assets of the Borrower, or of any surety or guarantor (other than the applicable Guarantor)
for any Obligations of the Borrower to the Lender Group, or any of them, the rights of the Administrative Agent against any Guarantor
shall not be affected or impaired by the omission of any member of the Lender Group to prove its claim, or to prove the full claim,
as appropriate, against the Borrower, or any such other guarantor or surety, and the Administrative Agent may prove such claims
as it sees fit and may refrain from proving any claim and in its discretion may value as it sees fit or refrain from valuing any
security held by it without in any way releasing, reducing or otherwise affecting the liability to the Lender Group of each of
the Guarantors.


 


(i)          Each Guarantor
hereby absolutely, unconditionally and irrevocably expressly waives, except to the extent such waiver would be expressly prohibited
by Applicable Law, the following: (i) notice of acceptance of this Guaranty, (ii) notice of the existence or creation of all or
any of the Obligations, (iii) presentment, demand, notice of dishonor, protest and all other notices whatsoever (other than notices
expressly required hereunder or under any other Loan Document to which any Guarantor is a party), (iv) all diligence in collection
or protection of or realization upon the Obligations or any part thereof or any security for any of the Obligations, (v) all rights
to enforce any remedy which the Lender Group, or any of them, may have against the Borrower, (vi) until the Obligations shall have
been paid in full in cash (or in the case of a Letter of Credit Obligations, secured through delivery of cash collateral in an
amount equal to one hundred and three percent (103%) of the Letter of Credit Obligations), and all Commitments have been terminated,
all rights of subrogation, indemnification, contribution and reimbursement from the Borrower for amounts paid hereunder and any
benefit of, or right to participate in, any collateral or security now or hereinafter held by the Lender Group, or any of them,
in respect of the Obligations, and (vii) any and all rights under any Applicable Law governing guaranties or sureties. If a claim
is ever made upon any member of the Lender Group for the repayment or recovery of any amount or amounts received by such Person
in payment of any of the Obligations and such Person repays all or part of such amount by reason of (A) any judgment, decree or
order of any court or administrative body having jurisdiction over such Person or any of its property, or (B) any settlement or
compromise of any such claim effected by such Person with any such claimant, including the Borrower, then in such event each Guarantor
agrees that any such judgment, decree, order, settlement or compromise shall be binding upon such Guarantor, notwithstanding any
revocation hereof or the cancellation of any promissory note or other instrument evidencing any of the Obligations, and such Guarantor
shall be and remain obligated to such Person hereunder for the amount so repaid or recovered to the same extent as if such amount
had never originally been received by such Person.


 




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(j)         This Guaranty
is a continuing guaranty of the Obligations and all liabilities to which it applies under the terms hereof and shall be conclusively
presumed to have been created in reliance hereon. No failure or delay by any member of the Lender Group in the exercise of any
right, power, privilege or remedy shall operate as a waiver thereof, and no single or partial exercise by the Administrative Agent
of any right or remedy shall preclude other or further exercise thereof or the exercise of any other right or remedy and no course
of dealing between any Guarantor and any member of the Lender Group shall operate as a waiver thereof. No action by any member
of the Lender Group permitted hereunder shall in any way impair or affect this Guaranty. For the purpose of this Guaranty, the
Obligations shall include, without limitation, all Obligations of the Borrower to the Lender Group, notwithstanding any right or
power of any third party, individually or in the name of the Borrower and the Lender Group, or any of them, to assert any claim
or defense as to the invalidity or unenforceability of any such Obligation, and no such claim or defense shall impair or affect
the obligations of any Guarantor hereunder.


 


(k)         This is a guaranty
of payment and not of collection. In the event the Administrative Agent makes a demand upon any Guarantor in accordance with the
terms of this Guaranty, such Guarantor shall be held and bound to the Administrative Agent directly as debtor in respect of the
payment of the amounts hereby guaranteed.


 


(l)          Each Guarantor
is a direct or indirect wholly-owned Domestic Subsidiary of the Borrower. Each Guarantor expressly represents and acknowledges
that any financial accommodations by the Lender Group to the Borrower, including, without limitation, the extension of credit,
are and will be of direct interest, benefit and advantage to such Guarantor.


 


(m)         The payment obligation
of a Guarantor to any other Guarantor under any Applicable Law regarding contribution rights among co-obligors or otherwise shall
be subordinate and subject in right of payment to the prior payment in full of the obligations of such Guarantor under the other
provisions of this Guaranty, and such Guarantor shall not exercise any right or remedy with respect to such rights until payment
and satisfaction in full of all such obligations.


 


Section 3.2          Special
Provisions Applicable to New Guarantors. Pursuant to Section 6.10 of this Agreement, any new Domestic Subsidiary (other than
Excluded Subsidiaries and Immaterial Subsidiaries) of the Borrower may be required to enter into this Agreement as a Guarantor
by executing and delivering to the Administrative Agent a Joinder Supplement. Upon the execution and delivery of a Joinder Supplement
by such new Domestic Subsidiary, such new Domestic Subsidiary shall become a Guarantor and Credit Party hereunder with the same
force and effect as if originally named as a Guarantor or Credit Party herein. The execution and delivery of any Joinder Supplement
(or any joinder to any other applicable Loan Document) adding an additional Guarantor as a party to this Agreement (or any other
applicable Loan Document) shall not require the consent of any other party hereto. The rights and obligations of each party hereunder
shall remain in full force and effect notwithstanding the addition of any new Guarantor hereunder.


 




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ARTICLE
4




CONDITIONS PRECEDENT


 


Section 4.1          Conditions
Precedent to Initial Loan. The obligations of the Lenders to make Loans, and the obligation of the Issuing Bank to issue any
Letter of Credit, are subject to the fulfillment of each of the following conditions on or before December 21, 2016:


 


(a)          The Administrative
Agent shall have received each of the following, in form and substance satisfactory to the Lender Group:


 


(i)          This
Agreement duly executed by the Borrower, the Guarantors, the Lenders, and the Administrative Agent;


 


(ii)          Any
Revolving Loan Notes and DDTL Loan Notes requested by any Lender duly executed by the Borrower;


 


(iii)         Customary
legal opinions of Womble Carlyle Sandridge & Rice, LLP, counsel to the Credit Parties, as well as any local counsel to the
Credit Parties (if reasonably requested by the Administrative Agent), addressed to the Lender Group, covering the transactions
contemplated by the Loan Documents;


 


(iv)         If
Loans are to be made on the Closing Date, a duly executed Request for Loan with disbursement instructions attached thereto;


 


(v)          A certificate
signed by an Authorized Signatory of each Credit Party, including a certificate of incumbency with respect to each Authorized Signatory
of such Person, together with appropriate attachments which shall include the following: (A) a copy of the certificate of incorporation
or formation, articles of organization, or similar organizational document of such Person certified to be true, complete and correct
by the Secretary of State (or relevant equivalent office) of the State of such Person’s incorporation or formation, (B) a
true, complete and correct copy of the bylaws, operating agreement, partnership agreement, limited liability company agreement,
or similar organizational document of such Person, (C) a true, complete and correct copy of the resolutions (including, without
limitation, board resolutions and shareholder resolutions, as applicable) of such Person authorizing the execution, delivery and
performance by such Person of the Loan Documents, and with respect to the Borrower, authorizing the borrowings hereunder, and (D)
certificates of good standing, existence, or similar appellation from each jurisdiction in which such Person is organized and,
to the extent failure to be so qualified in any other jurisdiction could reasonably be expected to have a Materially Adverse Effect,
foreign qualifications in those jurisdictions in which such Person is required to be qualified to do business; provided
that if a document referenced in clause (A) or (B) was delivered in connection with the Prior Credit Agreement or not required
to be delivered in connection with the Prior Credit Agreement, then delivery of such document shall not be required so long as
the applicable Credit Party delivers an officer’s certificate certifying that no changes have been made to such document,
and such document remains in full force and effect;


 




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(vi)         An
officer’s certificate executed by the treasurer of the Borrower certifying (A) the solvency of the Credit Parties, taken
as a whole, as of the Closing Date, (B) that as of the Closing Date, both before and after the effectiveness of this Agreement
and the other Loan Documents (x) all of the representations and warranties of the Credit Parties under this Agreement and the other
Loan Documents are true and correct in all material respects (provided that if any representation or warranty already includes
a materiality or material adverse effect qualifier, such representation or warranty is true and correct in all respects and if
any such representation or warranty expressly relates to a prior date, such representation or warranty shall be so true and correct
on and as of such prior date) and (y) no Default or an Event of Default is in existence, (C) that there has been no materially
adverse change to the financial information previously delivered to the Administrative Agent under Section 4.1(d) below, (D) that
no change in the business, financial condition, results of operations, liabilities (contingent or otherwise), or properties of
the Borrower and its Subsidiaries (taken as a whole) shall have occurred since December 31, 2015, which change has had or would
be reasonably expected to have a Materially Adverse Effect, and (E) that (x) all material Necessary Authorizations are in full
force and effect, are not subject to any pending or threatened reversal or cancellation, and all applicable waiting periods have
expired, and that there is no ongoing investigation or inquiry by any Governmental Authority regarding the Loans or the Loan Documents
and (y) attached thereto are true, correct, and complete copies of all such material Necessary Authorizations, if any;


 


(vii)         Payment
of all fees payable to the Administrative Agent, the Affiliates of the Administrative Agent, and the Lenders in connection with
the execution and delivery of this Agreement, and payment of fees and expenses of counsel to the Administrative Agent;


 


(viii)        Out-of-state
affidavits for each Credit Party organized under the laws of the State of Florida;


 


(ix)          Mutually
acceptable payoff letter duly executed by the parties thereto evidencing the repayment of the indebtedness under the Prior Credit
Agreement and Prior Loan Documents and each parties’ obligations under the Prior Credit Agreement and Prior Loan Documents
shall terminate on the Closing Date; and


 


(x)          All
such other documents as the Administrative Agent may reasonably request, certified by an appropriate governmental official or an
Authorized Signatory if so requested.


 


(b)          The Lead Arrangers
and the Administrative Agent shall have completed their financial, regulatory, and legal due diligence of the Credit Parties, and
all credit investigations and background checks, and the results, form, and substance of each of the foregoing items shall be satisfactory
to the Administrative Agent.


 


(c)          The Lead Arrangers
and the Administrative Agent shall be satisfied that no change in the business, financial condition, results of operations, liabilities
(contingent or otherwise), or properties of the Borrower and its Subsidiaries (taken as a whole) shall have occurred since December
31, 2015, which change has had or would be reasonably expected to have a Materially Adverse Effect.


 




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(d)          The Lead Arrangers
shall have received and be satisfied with (i) the financial statements (including balance sheets, statements of income, and statements
of cash flows) described in Section 5.1(i) and (ii) the Borrower’s 2016 financial performance and condition estimate.


 


(e)          The Administrative
Agent shall have received a Compliance Certificate calculated as of the last day of the fiscal quarter ended September 30, 2016,
demonstrating that the Borrower is in compliance with the Financial Covenants;


 


(f)          The Administrative
Agent shall have received all documentation and information required by any Governmental Authority under any applicable “know
your customer” and anti-money laundering rules and regulations, including the Patriot Act, no later than five (5) Business
Days prior to the Closing Date; and


 


(g)          The Administrative
Agent shall have received from the Lenders all tax forms and certificates required by Section 2.9.


 


Section 4.2          Conditions
Precedent to Each Loan and Issuance of a Letter of Credit. The obligation of the Lenders to make each Loan and of the Issuing
Bank to issue any Letter of Credit, including any initial Loan or any initial Letter of Credit hereunder (but excluding Loans,
the proceeds of which are to reimburse (a) the Swing Bank for Swing Loans or (b) the Issuing Bank for amounts drawn under a Letter
of Credit), is subject to the fulfillment of each of the following conditions immediately prior to or contemporaneously with such
Loan or such Letter of Credit:


 


(a)          All of the representations
and warranties of the Credit Parties under this Agreement and the other Loan Documents, which, pursuant to Section 5.2, are made
at and as of the time of such Loan or such Letter of Credit, shall be true and correct in all material respects at such time, both
before and after giving effect to such Loan or such Letter of Credit (provided that if any representation or warranty already
includes a materiality or material adverse effect qualifier, such representation or warranty shall be true and correct in all respects
and except (i) in the case of any such representation or warranty that expressly relates to a prior date, in which case such representation
or warranty shall be so true and correct on and as of such prior date and (ii) the representations and warranties set forth in
Sections 5.1(j) and 5.1(k));


 


(b)          There shall not
exist on the date of such Loan or such Letter of Credit and after giving effect thereto, a Default or an Event of Default; and


 


(c)          With respect to
any Letter of Credit, all other applicable conditions precedent set forth in Section 2.2 shall have been satisfied.


 


The Borrower hereby agrees that the delivery
of any Request for Loan or Request for Letter of Credit hereunder or any telephonic request hereunder shall be deemed to be the
certification of the Authorized Signatory thereof that all of the conditions set forth in this Section 4.2 have been satisfied.
Notwithstanding the foregoing, if any of the conditions set forth above are not satisfied, such conditions may be waived by the
Required DDTL Lenders, with respect to DDTL Loans and Required Revolving Lenders, with respect to Revolving Loans, as applicable.


 




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ARTICLE
5



REPRESENTATIONS AND WARRANTIES


 


Section 5.1          General
Representations and Warranties. In order to induce the Lender Group to enter into this Agreement and to extend the Loans and
issue the Letters of Credit to the Borrower, each Credit Party hereby represents and warrants that:


 


(a)          Organization;
Power; Qualification. Each Credit Party (i) is a corporation, partnership or limited liability company duly organized, validly
existing, and in good standing under the laws of its state of incorporation or formation, (ii) has the corporate or other company
power and authority to own or lease and operate its properties and to carry on its business as now being and hereafter proposed
to be conducted, except where the failure to do so could not reasonably be expected to have a Materially Adverse Effect and (iii)
is duly qualified and is in good standing as a foreign corporation or other company, and authorized to do business, in each jurisdiction
in which the character of its properties or the nature of its business requires such qualification or authorization, except where
the failure to so qualify or be authorized to do business could not reasonably be expected to have a Materially Adverse Effect.


 


(b)          Authorization;
Enforceability. Each Credit Party has the power and has taken all necessary action, corporate or otherwise, to authorize it
to execute, deliver, and perform this Agreement and each of the other Loan Documents to which it is a party in accordance with
the terms thereof and to consummate the transactions contemplated hereby and thereby. Each of this Agreement and each other Loan
Document to which a Credit Party is a party has been duly executed and delivered by such Credit Party, and is a legal, valid and
binding obligation of such Credit Party, enforceable in accordance with its terms, except to the extent that the enforceability
thereof may be limited by applicable bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditor’s
rights generally or by general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity
or at law).


 


(c)          Partnerships;
Joint Ventures; Subsidiaries; Guarantors. Except as disclosed on Schedule 5.1(c)-1, no Credit Party has any Subsidiaries
as of the Closing Date. Schedule 5.1(c)-1 sets forth, for each Person set forth thereon and, with respect to clause (iii)
below, the Borrower, a complete and accurate statement of (i) the percentage ownership of each such Person by the applicable Credit
Party or Subsidiary of a Credit Party as of the Closing Date, and (iii) the state or other jurisdiction of incorporation or
formation, as appropriate, of each such Person as of the Closing Date. As of the Closing Date (A) all Guarantors are set forth
on Schedule 5.1(c)-2 and (B) the assets of all Immaterial Subsidiaries and Excluded Subsidiaries do not exceed ten percent
(10%) of the Consolidated Net Tangible Assets.


 


(d)          Compliance
with Law, Loan Documents, and Contemplated Transactions. The execution, delivery, and performance of this Agreement and each
of the other Loan Documents in accordance with their respective terms and the consummation of the transactions contemplated hereby
and thereby do not and will not (i) violate any Applicable Law in any material respect or (ii) conflict with in any material respect,
result in a material breach of, or constitute a material default under the certificate of incorporation or formation or by-laws,
partnership agreement or operating agreement of any Credit Party or under any Material Contract to which any Credit Party is a
party.


 


(e)          Necessary Authorizations.
Each Credit Party has obtained all Necessary Authorizations, and all such Necessary Authorizations are in full force and effect,
except to the extent the failure to obtain such Necessary Authorizations or the failure to keep such Necessary Authorizations in
full force and effect could not reasonably be expected to have a Materially Adverse Effect.


 




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(f)          Title to Properties.
Each Credit Party has good, marketable, and legal title to, or a valid license or leasehold interest in, all of its Property material
to the operation of such Credit Party’s business (except for minor defects in title that do not interfere with its ability
to conduct its business as currently conducted or to utilize such properties for their intended purposes), except where the failure
to do so could not reasonably be expected to have a Materially Adverse Effect, and none of such Property is subject to any Liens,
other than Permitted Liens.


 


(g)          Labor Matters.
(i) There are no strikes, lockouts or other material labor disputes or grievances against any Credit Party, or, to the Borrower’s
knowledge, threatened against or affecting any Credit Party, and (ii) no significant unfair labor practice charges or grievances
are pending against any Credit Party, or, to the Borrower’s knowledge, threatened against any of them before any Governmental
Authority, except, in the case of clauses (i) and (ii), to the extent that such events could not reasonably be expected to have
a Materially Adverse Effect.


 


(h)          Taxes.
Each Credit Party has timely filed or caused to be filed all tax returns and reports required to have been filed and has paid or
caused to be paid all material taxes required to have been paid by it, except where (a) (i) the validity or amount thereof is being
contested in good faith by appropriate proceedings and (ii) for which adequate reserves (in accordance with GAAP) have been accrued
or (b) the failure to make such filing or payment could not reasonably be expected to have a Materially Adverse Effect.


 


(i)          Financial Statements.
The Credit Parties have furnished, or caused to be furnished, to the Lenders audited consolidated financial statements of the Borrower
and its Subsidiaries for the fiscal year ended on or about December 31, 2015, including the balance sheets and income and cash
flow statements, prepared by independent certified public accountants of recognized national standing which are complete and correct
in all material respects and present fairly in accordance with GAAP the financial position of the Borrower and its Subsidiaries
as of such dates, as applicable, and the results of operations for the fiscal years then ended, as applicable. Except as disclosed
in such financial statements, neither the Borrower nor any consolidated Subsidiary has any material liabilities, contingent or
otherwise, and there are no material unrealized or anticipated losses of the Borrower or any consolidated Subsidiary which have
not heretofore been disclosed in writing to the Lenders. The Credit Parties maintain reserves to the extent required by GAAP for
future costs associated with any retiree and health care benefits, any reclamation and any other potential claims under Environmental
Laws or Mining Laws.


 


(j)          No Adverse
Change. Since December 31, 2015, there has occurred no event which has had or could reasonably be expected to have a Materially
Adverse Effect.


 


(k)          Litigation.
There is no litigation, legal or administrative proceeding, investigation, or other action of any nature pending or, to the knowledge
of the Credit Parties, threatened against or affecting any Credit Party, any Subsidiary or any of their respective properties which
could reasonably be expected to have a Materially Adverse Effect.


 


(l)          ERISA.
Schedule 5.1(l) lists, as of the Closing Date, all Multiemployer Plans and Title IV Plans. Except as would not reasonably
be expected to result in a Materially Adverse Effect, (i) the Credit Parties and their ERISA Affiliates have fulfilled their obligations
under the minimum funding standards of ERISA and the Code with respect to each Title IV Plan and have not incurred any liability
to the PBGC or a Title IV Plan under Title IV of ERISA in connection with the termination of a Plan, and (ii) each Title IV Plan
is in compliance in all material respects with the presently applicable provisions of ERISA and the Code.


 




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(m)          Intellectual
Property. (i) Each Credit Party owns, or is licensed or otherwise has the right to use, all Intellectual Property material
to its business, and (ii) the use thereof by the Credit Parties does not infringe in any material respect on the rights of any
other Person, except in each case with respect to clauses (i) and (ii), as could not reasonably be expected to result in a Materially
Adverse Effect.


 


(n)          Compliance
with Law; Absence of Default. Each Credit Party is in compliance (i) with all Applicable Laws, except where the failure to
so comply could not reasonably be expected to have a Materially Adverse Effect, and (ii) in all material respects with the provisions
of its certificate of incorporation or formation and by-laws or other governing documents. No event has occurred or has failed
to occur which has not been remedied or waived, the occurrence or non-occurrence of which constitutes (i) a Default or an Event
of Default or (ii) a default under any (A) Material Contract or (B) judgment, decree, or order to which such Credit Party is a
party or by which such Credit Party or any of their respective properties may be bound, except, in each case under this clause
(ii), except for any default which could not reasonably be expected to have a Materially Adverse Effect.


 


(o)          Casualties;
Taking of Properties, etc.  Since December 31, 2015, neither the business nor the properties of the Credit Parties has been
affected as a result of any fire, explosion, earthquake, flood, drought, windstorm, accident, strike or other labor disturbance,
embargo, requisition or taking of property or cancellation of contracts, permits or concessions by any domestic or foreign government
or any agency thereof, riot, activities of armed forces, or acts of God or of any public enemy in a manner that could reasonably
be expected to have a Materially Adverse Effect.


 


(p)          Accuracy and
Completeness of Information. All written information, reports, other papers and data relating to the Credit Parties and their
Subsidiaries furnished by or at the direction of the Credit Parties to the Lender Group were, taken as a whole, at the time furnished,
complete and correct in all material respects. No document furnished or written statement made to the Lender Group by or at the
direction of any Credit Party in connection with the negotiation, preparation or execution of this Agreement or any of the Loan
Documents contains or will contain any untrue statement of a fact material to the creditworthiness of the Credit Parties taken
as a whole or omits or will omit to state a material fact necessary in order to make the statements contained therein not materially
misleading as of the time when made or delivered. With respect to projections, estimates and forecasts given to the Lender Group,
such projections, estimates and forecasts are based on the Credit Parties’ good faith assessment of the future of the business
at the time made. The Credit Parties had a reasonable basis for such assessment at the time made.


 


(q)          Compliance
with Regulations T, U, and X. No Credit Party is engaged principally in or has as one of its important activities in the business
of extending credit for the purpose of purchasing or carrying, and no Credit Party owns or presently intends to acquire, any “margin
security” or “margin stock” as defined in Regulations T, U and X of the Board of Governors of the Federal Reserve
System (herein called “Margin Stock”). None of the proceeds of the Loans will be used, directly or indirectly,
for the purpose of purchasing or carrying any Margin Stock or for the purpose of reducing or retiring any Indebtedness which was
originally incurred to purchase or carry Margin Stock or for any other purpose which might constitute this transaction a “purpose
credit” within the meaning of said Regulations T, U and X. None of any Credit Party or any bank acting on its behalf has
taken or will take any action which might cause this Agreement or any other Loan Documents to violate Regulation T, U or X or any
other regulation of the Board of Governors of the Federal Reserve System or to violate the SEA, in each case as now in effect or
as the same may hereafter be in effect. If so requested by the Administrative Agent, the Credit Parties will furnish the Administrative
Agent with (i) a statement or statements in conformity with the requirements of Federal Reserve Form U-1 referred to in Regulation
U of said Board of Governors and (ii) other documents evidencing its compliance with the margin regulations, including without
limitation an opinion of counsel in form and substance satisfactory to the Administrative Agent. Neither the making of the Loans
nor the use of proceeds thereof will violate, or be inconsistent with, the provisions of Regulation T, U or X of said Board of
Governors.


 




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(r)          Solvency.
The Borrower and the other Credit Parties, taken as a whole, are and will continue to be Solvent, including, without limitation,
after giving effect to the transactions contemplated by the Loan Documents and the rights of subrogation and contribution among
the Credit Parties.


 


(s)          [Reserved]


 


(t)          Environmental
Matters.


 


(i)          Each
Credit Party is in compliance with all applicable Environmental Laws except where the failure to so comply could not reasonably
be expected to have a Materially Adverse Effect. There is no violation of any Environmental Law or contamination which could interfere
with the continued operation of any of the Properties which in each case above could reasonably be expected to have a Materially
Adverse Effect.


 


(ii)          As
of the Closing Date, except as set forth on Schedule 5.1(t), no Credit Party has received from any Governmental Authority
any complaint, or notice of violation, alleged violation, investigation or advisory action or notice of potential liability regarding
matters of environmental protection or permit compliance under applicable Environmental Laws or Mining Laws with regard to the
Properties, nor is any Credit Party aware that any such notice is pending, including, without limitation, any such notice in respect
of the reclamation, or alleged need for reclamation, of any current or former Property, except, in each case, which could not reasonably
be expected to have a Materially Adverse Effect.


 


(iii)          No
Credit Party or any Subsidiary is barred from receiving surface or underground Environmental or Mining Permits pursuant to the
permit block provisions of Mining Laws except in each case as could not reasonably be expected to have a Materially Adverse Effect.


 


(u)          MSHA. All
of the Credit Parties’ operations are conducted in compliance with all applicable rules and regulations promulgated by the
Occupational Safety and Health Administration of the United States Department of Labor and the Mine Safety and Health Administration
of the United States Department of Labor “MSHA”), except where such failure to comply could not reasonably be
expected to result in a Materially Adverse Effect.


 


(v)          Investment
Company Act. No Credit Party is required to register under the provisions of the Investment Company Act of 1940, as amended,
and neither the entering into or performance by the Credit Parties of this Agreement nor the issuance of any Revolving Loan Notes
or DDTL Loan Notes violates any provision of such Act or requires any consent, approval, or authorization of, or registration with,
any governmental or public body or authority pursuant to any of the provisions of such Act.


 


(w)          Anti-Corruption
Laws; Sanctions. Each Credit Party has implemented and maintains in effect policies and procedures designed to ensure compliance
by each Credit Party, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws
and applicable Sanctions, and each Credit Party, its Subsidiaries and their respective officers and employees and, to the knowledge
of each Credit Party, its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material
respects. None of (i) any Credit Party or, to the knowledge of any Credit Party or any Subsidiary of a Credit Party, any of their
respective directors, officers or employees, or (ii) to the knowledge of any Credit Party, any agent of any Credit Party or any
Subsidiary of any Credit Party that will act in any capacity in connection with or benefit from the credit facility established
hereby, in each case, is a Sanctioned Person. No Loan or Letter of Credit, use of proceeds thereof or other transaction contemplated
by this Agreement will violate Anti-Corruption Laws or applicable Sanctions.


 




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Section 5.2          Survival
of Representations and Warranties, etc. All representations and warranties made under this Agreement and the other Loan Documents
shall be deemed to be made, and shall be true and correct in all material respects (provided that if any representation
or warranty already includes a materiality or material adverse effect qualifier, such representation or warranty shall be true
and correct in all respects), at and as of the Closing Date and (other than the representations and warranties set forth in Sections
5.1(j) and 5.1(k)) the date of each Loan or Letter of Credit hereunder, except to the extent made with respect to a specific, earlier
date, in which case such representation and warranty shall have been true and correct as of such earlier date. All representations
and warranties made under this Agreement and the other Loan Documents shall survive, and not be waived by, the execution hereof
by the Lender Group, or any of them, any investigation or inquiry by any member of the Lender Group, or the making of any Loan
or the issuance of any Letter of Credit under this Agreement.


 


ARTICLE
6




INFORMATION AND GENERAL COVENANTS


 


Until the later of
the date the Obligations (other than contingent indemnification obligations as to which no claim is pending) are repaid in full
in cash and the date the Commitments are terminated:


 


Section 6.1          Quarterly
Financial Statements and Information. The Borrower shall deliver to the Administrative Agent (and the Administrative Agent
shall deliver to each of the Lenders) within forty-five (45) days after the last day of each of the first three fiscal quarters
of the Borrower, the consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, the
related consolidated income statement for such fiscal quarter and fiscal year to date period, and the related consolidated statement
of cash flows for such fiscal year to date period. Such financial statements shall (i) set forth in comparative form the figures
as at the end of such quarter and year to date period of the previous fiscal year, as applicable and (ii) be certified by an Authorized
Signatory of the Borrower to be, in his or her opinion, complete and correct in all material respects and to present fairly in
accordance with GAAP the financial position of the Borrower and its consolidated Subsidiaries, as at the end of such period and
the results of operations for such periods (it being acknowledged and agreed that quarterly financial statements are not audited
and are subject to normal audit and year-end adjustments).


 


Section 6.2          Annual
Financial Statements and Information. The Borrower shall deliver to the Administrative Agent (and the Administrative Agent
shall deliver to each of the Lenders) within ninety (90) days after the end of each fiscal year of the Borrower (or, so long as
the Borrower shall be subject to periodic reporting obligations under the SEC, by the date that the Annual Report on Form 10-K
of the Borrower for such fiscal year would be required to be filed under the rules and regulations of the SEC, giving effect to
any automatic extension available thereunder for the filing of such form), the audited consolidated balance sheet of the Borrower
and its Subsidiaries as at the end of such year and the related audited consolidated income statement, audited consolidated statement
of shareholders equity and audited consolidated statement of cash flows for such fiscal year. Such financial statements shall (i)
set forth in comparative form the figures as at the end of and for the previous year, and (ii) be accompanied by an unqualified
opinion of independent certified public accountants of recognized national standing (which opinion shall be without (A) a “going
concern” or like qualification or exception or (B) any qualification or exception as to the scope of such audit), stating
that such financial statements are prepared in all material respects in accordance with GAAP, and present fairly the financial
position of the Borrower and its consolidated Subsidiaries as at the end of such year.


 




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Section 6.3          Compliance
Certificates. At the time the financial statements are delivered pursuant to Section 6.1 or 6.2, the Borrower shall deliver
to the Administrative Agent (and the Administrative Agent shall deliver to each of the Lenders) a Compliance Certificate:


 


(a)          Setting
forth as at the end of the applicable fiscal quarter, subject to Section 1.3(b), the arithmetical calculations required to establish
whether or not the Borrower was in compliance with the Financial Covenants;


 


(b)          Stating
that, to the best of the Authorized Signatory’s knowledge, no Default or Event of Default has occurred, or, if a Default
or Event of Default has occurred, disclosing each such Default or Event of Default and its nature, when it occurred, whether it
is continuing, and specifying the action the Borrower has taken or proposes to take with respect thereto; and


 


(c)          Setting
forth any Domestic Subsidiary formed or acquired during the applicable fiscal quarter that became a Credit Party pursuant to Section
6.10.


 


Section 6.4          Additional
Reports.


 


(a)          On
or before the last day of January of each fiscal year (or such later date as the Administrative Agent may approve in its sole discretion),
commencing with fiscal year 2017, the Borrower shall deliver to the Administrative Agent its consolidated current year forecasted
income statement, balance sheet, cash flow statement, and Financial Covenant calculations on a quarterly basis;


 


(b)          Within
five (5) Business Days (or such longer period as the Administrative Agent may approve in its sole discretion) of any Responsible
Officer obtaining knowledge of any event that could reasonably be expected to result in a Materially Adverse Effect, the Borrower
shall notify the Administrative Agent of the occurrence thereof, and shall provide such additional information with respect to
such matters as the Lender Group, or any of them, may reasonably request;


 


(c)          Immediately
following any Default or Event of Default under any Loan Document, the Borrower shall notify the Administrative Agent of the occurrence
thereof giving in each case the details thereof and specifying the action proposed to be taken with respect thereto;


 


(d)          Within
five (5) Business Days (or such longer period as the Administrative Agent may approve in its sole discretion), of the filing thereof
or otherwise becoming publicly available, copies of (i) all financial statements, annual, quarterly and special reports, proxy
statements and notices sent or made publicly available by the Borrower to its public security holders, (ii) all registration statements
and prospectuses filed with any securities exchange or with the Securities and Exchange Commission, and (iii) all press releases
and other statements made publicly available containing material developments in the business or financial condition of the Borrower
and the other Credit Parties;


 


(e)          Within
five (5) Business Days (or such longer period as the Administrative Agent may approve in its sole discretion) after the chief financial
officer or treasurer of the Borrower obtains knowledge that any Rating Agency shall have announced a change in any Rating, the
Borrower shall provide the Administrative Agent with written notice of such change; and


 




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(f)          With
reasonable promptness, the Borrower shall deliver to the Administrative Agent such other information relating to any Credit Party’s
performance of this Agreement or its business or financial condition as may reasonably be requested from time to time by the Administrative
Agent at the request of any member of the Lender Group; provided that the Credit Parties shall not be required to disclose,
or allow inspection of, any document or information that (i) constitutes non-financial trade secrets or non-financial proprietary
information, (ii) in respect of which disclosure to the Administrative Agent or any Lender is prohibited by law or would violate
any contractual confidentiality obligations to a third party if such obligations were not entered into in contemplation of this
Agreement or (iii) is subject to attorney-client or similar privilege or constitutes attorney work-product.


 


Information required to
be delivered pursuant to Sections 6.1, 6.2 and 6.4(d) shall be deemed to have been delivered and certified if such information
shall have been timely posted on the Borrower’s website on the internet (currently www.vulcanmaterials.com) or shall be available
on the website of the Securities and Exchange Commission at http://www.sec.gov.


 


Section 6.5           Preservation
of Existence and Similar Matters. Each Credit Party will preserve, renew and maintain in full force and effect (a) its legal
existence in its jurisdiction of incorporation and (b) all of its rights, privileges and franchises necessary in the normal conduct
of its business, except, in each case with respect to clauses (a) and (b), (i) as permitted under Section 7.4 or (ii) to the extent
that failure to do so would not reasonably be expected to have a Materially Adverse Effect.


 


Section 6.6           Compliance
with Applicable Law. Each Credit Party will comply with all laws, rules, regulations and requirements of any Governmental Authority
applicable to its business and properties, including, without limitation, all Environmental Laws, ERISA and MSHA, except where
the failure to do so, either individually or in the aggregate, could not reasonably be expected to have a Materially Adverse Effect.


 


Section 6.7           Maintenance
of Properties. Each Credit Party will keep and maintain all property material to the conduct of its business in good working
order and condition, ordinary wear and tear excepted, except where the failure to do so could not, individually or in the aggregate,
reasonably be expected to have a Materially Adverse Effect.


 


Section 6.8           Accounting
Methods and Financial Records. The Borrower, for itself and on behalf of its Subsidiaries, will 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 the Borrower in conformity with GAAP.


 


Section 6.9           Insurance.
The Borrower for itself and its Subsidiaries will (a) maintain with financially sound and reputable insurance companies insurance
with respect to its properties and business against loss or damage of the kinds and in amounts which are reasonable (taking into
account industry business practices, including self-insurance) and (b) upon request, furnish to the Administrative Agent at reasonable
intervals a certificate of a Responsible Officer setting forth the nature and extent of all insurance maintained in accordance
with this Section.


 




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Section 6.10        Guarantors.


 


(a)          Subject
to Section 6.10(b), within thirty (30) days (or such longer period as the Administrative Agent may agree to in its sole discretion)
following the end of each fiscal quarter of the Borrower, the Borrower shall cause each non-Credit Party Domestic Subsidiary that
is not an Immaterial Subsidiary or an Excluded Subsidiary to provide to the Administrative Agent, for the benefit of the Lender
Group, (i) a joinder supplement to this Agreement substantially in the form of Exhibit I (each, a “Joinder Supplement”),
pursuant to which each such Domestic Subsidiary shall agree to join as a Guarantor and as a Credit Party under this Agreement,
and (ii) all other documentation, including opinion(s) of counsel as reasonably requested by the Administrative Agent, which
in its reasonable opinion is appropriate with respect to such Domestic Subsidiary, if applicable, and the execution and delivery
of the applicable documentation referred to above, and all documentation requested by the Lenders to comply with their “know
your customer” obligations under the Patriot Act or otherwise imposed by OFAC. Any document, agreement or instrument executed
or issued pursuant to this Section 6.10 shall be a “Loan Document” for purposes of this Agreement.


 


(b)          Immaterial
Subsidiaries shall not be required to become Credit Parties pursuant to Section 6.10(a), provided, that if the assets of
all such Immaterial Subsidiaries and all Excluded Subsidiaries at any time of determination exceeds ten percent (10%) of Consolidated
Net Tangible Assets, the Borrower shall cause non-Credit Party Immaterial Subsidiaries that are not Excluded Subsidiaries to become
Credit Parties in accordance with Section 6.10(a) until either (A) the matter described in the proviso above ceases to be true
or (B) all Immaterial Subsidiaries that are not Excluded Subsidiaries are Credit Parties.


 


(c)          The
Borrower may designate any Immaterial Subsidiary that is not a Credit Party as a Credit Party from time to time, so long as such
Immaterial Subsidiary shall have provided to the Administrative Agent, for the benefit of the Lender Group, the items specified
in Section 6.10(a).


 


Section 6.11        Payment
of Taxes and Claims. Each Credit Party will pay and discharge all federal and material state income and other material taxes,
assessments and governmental charges and levies before the same shall become delinquent or in default, except where (a) (i) the
validity or amount thereof is being contested in good faith by appropriate proceedings and (ii) for which adequate reserves (in
accordance with GAAP) have been accrued or (b) the failure to make such payment could not reasonably be expected to result in a
Materially Adverse Effect.


 


Section 6.12        Visits
and Inspections. The Borrower will permit representatives of the Administrative Agent and the Lender Group (in a single group
coordinated through the Administrative Agent), once per calendar year at the expense of the Administrative Agent and the Lender
Group, upon reasonable prior notice to the Borrower, to (a) inspect the properties of the Borrower and/or any of its Subsidiaries,
(b) examine the books and records (and make copies thereof) of the Borrower and/or any of its Subsidiaries, and (c) discuss with
their officers and independent certified public accountants their financial position and results of operations; provided,
that if an Event of Default has occurred and is continuing, such visits (i) shall require no prior notice, (ii) shall not be limited
in number per calendar year and (iii) shall be at the expense of the Borrower. Notwithstanding anything to the contrary in this
Section 6.12, the Borrower and its Subsidiaries shall not be required to disclose, or allow inspection of, any document or information
that (x) constitutes non-financial trade secrets or non-financial proprietary information, (y) in respect of which disclosure to
the Administrative Agent or any Lender is prohibited by law or would violate any contractual confidentiality obligations to a third
party if such obligations were not entered into in contemplation of this Agreement or (z) is subject to attorney-client or similar
privilege or constitutes attorney work-product.


 




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Section 6.13        Further
Assurances. Upon the reasonable request of the Administrative Agent, each Credit Party will promptly cure, or cause to be cured,
defects in the creation and issuance of any Revolving Loan Notes and DDTL Loan Notes and the execution and delivery of the Loan
Documents (including this Agreement), resulting from any act or failure to act by any Credit Party or any employee or officer thereof.
Each Credit Party at its expense will promptly execute and deliver, or cause to be executed and delivered, to the Administrative
Agent and the Lenders, all such other and further documents, agreements, and instruments in compliance with or accomplishment of
the covenants and agreements of the Credit Parties in the Loan Documents, or to correct any omissions, or more fully to state the
obligations set out herein or in any of the Loan Documents, or to obtain any consents, all as may be necessary or appropriate in
connection therewith.


 


Section 6.14        Indemnity;
Limitation on Damages. Each Credit Party will indemnify and hold harmless each Indemnified Person from and against any and
all claims, liabilities, investigations, losses, damages, actions, demands, penalties, judgments, suits, litigation, other proceedings
and expenses (including fees and expenses of experts, agents, consultants and counsel but limited, in the case of legal fees and
expenses, to the fees and expenses of one counsel for all Indemnified Persons absent a conflict of interest and, in the event of
a conflict of interest, one additional counsel for the Indemnified Persons subject to such conflict), in each case, of any kind
or nature (whether or not the Indemnified Person or any Credit Party is a party to any such action, suit or investigation) whatsoever
which may be imposed on, incurred by, or asserted against an Indemnified Person by any third party or by the Borrower or any other
Credit Party, arising out of or in connection with this Agreement or the other Loan Documents, the Commitments, the use of the
proceeds of the Loans or Letters of Credit or any related transaction (collectively, “Losses”) provided that
the Credit Parties shall not be liable to an Indemnified Person pursuant to this Section 6.14 for any Loss to the extent that a
court of competent jurisdiction shall have determined by a final and non-appealable judgment that such Loss resulted from the gross
negligence of, willful misconduct of or material breach of this Agreement or any other Loan Document by such Indemnified Person.
NO PARTY TO THIS AGREEMENT SHALL BE RESPONSIBLE OR LIABLE TO ANY OTHER PARTY TO ANY LOAN DOCUMENT, ANY SUCCESSOR, ASSIGNEE OR THIRD
PARTY BENEFICIARY OR SUCH PERSON OR ANY OTHER PERSON ASSERTING CLAIMS DERIVATIVELY THROUGH SUCH PARTY, FOR INDIRECT, SPECIAL, PUNITIVE,
EXEMPLARY OR CONSEQUENTIAL DAMAGES WHICH MAY BE ALLEGED AS A RESULT OF CREDIT HAVING BEEN EXTENDED, SUSPENDED OR TERMINATED UNDER
ANY LOAN DOCUMENT OR AS A RESULT OF ANY OTHER TRANSACTION CONTEMPLATED HEREUNDER OR UNDER ANY OTHER LOAN DOCUMENT; PROVIDED, FOR
THE AVOIDANCE OF DOUBT, THAT THE BORROWER WILL INDEMNIFY FOR PUNITIVE DAMAGES OWED BY AN INDEMNIFIED PERSON TO A THIRD PARTY TO
THE EXTENT OTHERWISE PERMITTED BY THIS SECTION 6.14. This Section 6.14 shall survive termination of this Agreement.


 


Section 6.15        Environmental
Matters.


 


(a)          Each
Credit Party shall at all times indemnify and hold harmless each Indemnified Person against and from any and all claims, suits,
actions, debts, damages, costs, losses, obligations, judgments, charges, and expenses, of any nature whatsoever (but limited, in
the case of legal fees and expenses, to the fees and expenses of one counsel for all Indemnified Persons absent a conflict of interest
and, in the event of a conflict of interest, one additional counsel for the Indemnified Persons subject to such conflict) under
or on account of the Environmental Laws, except to the extent resulting from the gross negligence or willful misconduct of such
Indemnified Person or material breach by such Indemnified Person of its obligations under this Agreement or any other Loan Document
as determined by a final non-appealable judgment of a court of competent jurisdiction, including the assertion of any lien thereunder
with respect to:


 


(i)          any
discharge, threat of a discharge or the presence of any Hazardous Materials on the Properties that originates or emanates from
the Properties;


 




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(ii)         any
costs of removal or remedial action incurred by the US government or any costs incurred by any other person or damages from injury
to, destruction of, or loss of natural resources, including reasonable costs of assessing such injury, destruction or loss incurred
pursuant to any Environmental Laws in each case relating to the business of the Credit Parties or their Properties;


 


(iii)        liability
for personal injury or property damage arising under any statutory or common law tort theory (including without limitation damages
assessed) for the maintenance of a public or private environmental nuisance or for the carrying on of an abnormally dangerous activity
at or caused by any Credit Party or Subsidiary or near the Properties; and/or


 


(iv)        any
other environmental matter affecting the Properties within the jurisdiction of the Environmental Protection Agency, any other Federal
agency, or any state, local, or foreign environmental agency.


 


(b)          All
of the representations, warranties, covenants and indemnities of this Section 6.15 and Section 5.1(t) shall survive the termination
of this Agreement and the repayment of the Obligations and shall survive the transfer of any or all right, title and interest in
and to the Properties by the Credit Parties or any of their Subsidiaries to any party, whether or not affiliated with the Credit
Parties.


 


Section 6.16         Anti-Corruption
Laws; Sanctions. The Borrower will not request any Loan or Letter of Credit, and the Borrower shall not use, and the Borrower
shall ensure that none of the other Credit Parties and its or their respective directors, officers, employees and agents shall
use, the proceeds of any Loan or Letter of Credit (i) in furtherance of an offer, payment, promise to pay, or authorization of
the payment or giving of money, or anything else of value, to any person in violation of any Anti-Corruption Laws, (ii) for the
purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any
Sanctioned Country or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto.


 


ARTICLE
7




NEGATIVE COVENANTS


 


Until the later of the
date the Obligations (other than contingent indemnification obligations as to which no claim is pending) are repaid in full in
cash and the date the Commitments are terminated:


 


Section 7.1           Liens.
No Credit Party will create, incur, assume or suffer to exist any Lien on any of its assets, except for Permitted Liens.  


 


Section 7.2           Investments.
No Credit Party will make Investments, except:


 


(a)          Cash
Equivalents;


 


(b)          Investments
in existence on the Closing Date and described on Schedules 5.1(c)-1, 5.1(c)-2, and 7.2;


 


(c)          Investments
in any Credit Party;


 




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(d)          Investments
arising out of Hedge Transactions entered into in the ordinary course of business;


 


(e)          Investments
received in connection with a bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers
and suppliers, in each case in the ordinary course of business, including without limitation the conversion of any of its Accounts
into notes or Equity Interests from the applicable Account Debtor;


 


(f)          loans
or advances to the employees, officers or directors of the Credit Parties and their Subsidiaries in the ordinary course of business
for travel, relocation and related expenses;


 


(g)          Investments
consisting of noncash consideration received from an asset disposition; and


 


(h)          Investments
not otherwise included in the foregoing clauses of this Section 7.2 which, when made (it being agreed that any Investments outstanding
on the Closing Date and not justified by the foregoing clauses of this Section 7.2 but justified under this clause (h) shall be
deemed to be made as of the Closing Date) and aggregated with then outstanding Investments made pursuant to this clause (h) after
the Closing Date, do not exceed the greater of (x) $500,000,000 and (y) fifteen percent (15%) of Consolidated Net Tangible Assets;
provided, that the aggregate amount of Investments made after the Closing Date outstanding at any time in, and Acquisitions
made after the Closing Date of, Excluded Subsidiaries does not exceed $250,000,000.


 


Section 7.3           Affiliate
Transactions. No Credit Party will engage in any transactions with any of its Affiliates, except: (a) on an arm’s-length
basis; (b) between or among Credit Parties not involving any other Affiliates; (c) any Investment in a Subsidiary that is not a
Credit Party permitted by Section 7.2 and (d) (i) direct or indirect distributions, dividends, or payments to any Person on account
of any Equity Interests of any Credit Party or any of their Subsidiaries and (ii) any redemption, retirement, sinking fund or other
payment, purchase or other acquisition for value, direct or indirect, of any Equity Interests issued by any Credit Party.


 


Section 7.4           Mergers
and Consolidations; Sale of Substantially all Assets; Conduct of Business; Acquisitions.


 


(a)          No
Credit Party will (i) merge or consolidate into any other Person that is not a Credit Party unless the Credit Party is the surviving
Person, or (ii) liquidate or dissolve, unless the Borrower determines in good faith that such liquidation or dissolution is in
the best interest of the Borrower and is not materially disadvantageous to the Lenders; provided, that the Borrower shall
not liquidate or dissolve itself or merge out of existence.


 


(b)          No
Credit Party will engage in any business other than businesses substantially similar, ancillary or related to, and reasonable extensions
of, the businesses conducted by the Borrower and its Subsidiaries on the Closing Date.


 


(c)          No
Credit Party will make any Acquisition except for Permitted Acquisitions.


 


(d)          The
Borrower will not sell, lease, transfer or otherwise dispose of substantially all of its assets to any Person (other than to another
Credit Party). The Credit Parties will not sell, lease, transfer or otherwise dispose of substantially all of the assets of the
Credit Parties, taken as a whole, to any Person.


 




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(e)          The
Borrower will not change its jurisdiction of organization to a jurisdiction located outside of the United States.


 


Section 7.5           Amendment
and Waiver. No Credit Party will amend, modify or waive any of its rights under its certificate of incorporation, bylaws or
other organizational documents in a manner which could reasonably be expected to have a Materially Adverse Effect.


 


Section 7.6           Restrictive
Agreements. No Credit Party will, directly or indirectly, enter into after the Closing Date any agreement that prohibits, restricts
or imposes any condition upon (a) its ability to create, incur or permit any Lien upon any of its assets, or (b) the ability of
any of its Subsidiaries to pay dividends or other distributions with respect to its Equity Interests, to make or repay loans or
advances to any Credit Party, to Guarantee Indebtedness of any Credit Party or to transfer any of its assets to any Credit Party;
provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any
other Loan Document, (ii) the foregoing shall not apply to (A) customary restrictions and conditions contained in agreements relating
to the sale of a Subsidiary or assets pending such sale, provided such restrictions and conditions apply only to the Subsidiary
or the assets being sold and such sale is permitted hereunder or (B) customary restrictions and conditions contained in agreements
with depositaries, securities intermediaries and other financial institutions relating to accounts maintained by a Credit Party,
(iii) clause (a) 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 assets securing such Indebtedness, (iv) clause (a) shall
not apply to customary provisions in leases restricting the assignment thereof and (v) clauses (a) and (b) shall not apply to Indebtedness
incurred after the Closing Date so long as restrictions contained in such Indebtedness are not more restrictive, taken as a whole,
than the restrictions in the 2007 Indenture as in effect on the Closing Date.


 


Section 7.7           Use
of Proceeds. No Credit Party shall use the proceeds of the Loans or Letters of Credit for any purpose other than for general
corporate purposes, and for such other purposes to the extent not inconsistent with the provisions of this Agreement. No part of
the proceeds of any Loan or Letter of Credit will be used by the Credit Parties, whether directly or indirectly, to purchase or
carry Margin Stock or for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve
System, including Regulations T, U or X, or in any other manner that would violate Section 5.1(q).


 


Section 7.8           Accounting
Changes. No Credit Party will make any significant change in accounting treatment or reporting practices, except as required
by GAAP, or change its fiscal year.


 


Section 7.9           Government
Regulation. The Borrower will not, and will not permit any other Credit Party to, (a) be or become subject at any time to any
law, regulation or list of any Governmental Authority of the United States (including, without limitation, the OFAC list) that
prohibits or limits the Lenders or the Administrative Agent from making any advance or extension of credit to the Borrower or from
otherwise conducting business with the Credit Parties, or (b) fail to provide documentary and other evidence of the identity of
the Credit Parties as may be requested by the Lenders or the Administrative Agent at any time to enable the Lenders or the Administrative
Agent to verify the identity of the Credit Parties or to comply with any applicable law or regulation, including, without limitation,
Section 326 of the Patriot Act at 31 U.S.C. Section 5318.


 


Section 7.10         Financial
Covenants.


 


(a)          The
Borrower shall not permit the Total Leverage Ratio as of the last day of any fiscal quarter to be greater than 3.50 to 1.00;
provided, that if any Credit Party consummates an Acquisition for which the Acquisition Consideration is $75,000,000 or
greater, then the maximum Total Leverage Ratio as of the last day of the three (3) fiscal quarters ending thereafter (including
the fiscal quarter in which such Acquisition occurred) shall be 3.75 to 1.00.


 




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(b)          The
Borrower shall not permit the Interest Coverage Ratio as of the last day of any fiscal quarter to be less than 3.00 to 1.00.


 


ARTICLE
8




DEFAULT


 


Section 8.1           Events
of Default. Each of the following shall constitute an Event of Default:


 


(a)          Any
representation or warranty made by any Credit Party under this Agreement or any other Loan Document shall prove incorrect or misleading
in any material respect (provided that if any representation or warranty already includes a materiality or material adverse
effect qualifier, such representation or warranty shall be true and correct in all respects) when made or deemed to have been made
pursuant to Section 5.2; or


 


(b)          (i)
Any payment of principal under this Agreement or under the other Loan Documents, or any reimbursement obligations with respect
to any Letter of Credit, shall not be received by the Administrative Agent on the date such payment is due, or (ii) any payment
of interest, fees, or other amounts (other than principal) under this Agreement or under the other Loan Documents shall not be
received by the Administrative Agent or Lender, as applicable, on or before five (5) Business Days after the due date thereof;
or


 


(c)          Any
Credit Party shall default in the performance or observance of any agreement or covenant contained in (i) Section 6.4(b), 6.4(c),
6.4(d), 6.5(a), 6.10, 6.12, 6.13, or Article 7 or (ii) Sections 6.1, 6.2, 6.3, 6.4(a), 6.4(e) or 6.4(f) and, with respect to this
clause (ii) only, such default shall not be cured within the earlier of (x) ten (10) days from the date that the Borrower knew
of the occurrence of such default, or (y) ten (10) days after written notice of such default is given to the Borrower; or


 


(d)          Any
Credit Party shall default in the performance or observance of any other agreement or covenant contained in this Agreement or any
other Loan Document not specifically referred to elsewhere in this Section 8.1, and such default shall not be cured within the
earlier of (i) thirty (30) days from the date that the Borrower knew of the occurrence of such default, or (ii) thirty (30) days
after written notice of such default is given to the Borrower; or


 


(e)          [reserved];
or


 


(f)          Any
Change in Control shall occur; or


 


(g)          (i)
There shall be entered a decree or order for relief in respect of any Credit Party under the Bankruptcy Code, or any other applicable
Federal or state bankruptcy law or other similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator,
or similar official of any Credit Party or of any substantial part of its properties, or ordering the winding-up or liquidation
of the affairs of any Credit Party, or (ii) an involuntary petition shall be filed against any Credit Party and a temporary stay
entered and (A) such petition and stay shall not be diligently contested, or (B) any such petition and stay shall continue undismissed
for a period of sixty (60) consecutive days; or


 




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(h)          Any
Credit Party shall (i) commence an insolvency proceeding or consent to the institution of an insolvency proceeding or to the appointment
or taking of possession of a receiver, liquidator, assignee, trustee, custodian, sequestrator, or other similar official of such
Credit Party or of any substantial part of its properties, (ii) fail generally to pay its debts as they become due, or (iii) take
any action in furtherance of any such action; or


 


(i)          (i)
One or more judgments, orders or awards (excluding any amounts paid or covered by insurance as to which the insurance company has
not disputed coverage) shall be entered by any court against any Credit Party for the payment of money which exceeds, together
with all such other judgments, orders, or awards, $100,000,000 in the aggregate, or (ii) a warrant of attachment or execution or
similar process shall be issued or levied against property of any Credit Party pursuant to any judgment which, together with all
other property of the Credit Parties and their Subsidiaries subject to other such processes, exceeds $100,000,000 in the aggregate,
excluding any amounts paid or covered by insurance as to which the insurance company has not disputed coverage; or


 


(j)          one
or more ERISA Events shall have occurred that, in the opinion of the Required Lenders, could reasonably be expected to, individually
or in the aggregate, result in a payment obligation of any Credit Party in an amount exceeding $100,000,000; or


 


(k)          (i)
any event or condition shall occur which results in the acceleration of the maturity of Indebtedness of any Credit Party (other
than the Obligations) in excess of $100,000,000 (individually or in the aggregate with other Indebtedness) or (ii) failure to make
any payment beyond the applicable grace period, if any (whether scheduled maturity, required prepayment, acceleration, demand or
otherwise) in respect of any Indebtedness of any Credit Party (other than the Obligations) in excess of $100,000,000 (individually
or in the aggregate with other Indebtedness) or (iii) any Credit Party shall default under any Hedge Transaction which results
in a payment obligation of any Credit Party in excess of $100,000,000; or


 


(l)          All
or any material portion of any Loan Document shall at any time and for any reason be declared to be null and void (other than as
expressly permitted in this Agreement or as a result of the actions or omissions of the Administrative Agent or any Lender), or
a proceeding shall be commenced by any Credit Party, or by any Governmental Authority having jurisdiction over the Credit Parties,
seeking to establish the invalidity or unenforceability thereof (exclusive of questions of interpretation of any provision thereof),
or any Credit Party shall deny that it has any liability or obligation for the payment of any Obligation purported to be created
under any Loan Document.


 


Section 8.2           Remedies.
If an Event of Default shall have occurred and be continuing, in addition to the rights and remedies set forth elsewhere in this
Agreement, the other Loan Documents or under Applicable Law:


 


(a)          With
the exception of an Event of Default specified in Section 8.1(g) or (h), the Administrative Agent may in its discretion (unless
otherwise instructed by the Required Lenders) or shall at the direction of the Required Lenders, (i) terminate the Commitments,
or (ii) declare the principal of and interest on the Loans and all other Obligations (other than any Bank Products Obligations)
to be forthwith due and payable without presentment, demand, protest, or notice of any kind, all of which are hereby expressly
waived, anything in this Agreement or in any other Loan Document to the contrary notwithstanding, or both.


 




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(b)          Upon
the occurrence and continuance of an Event of Default specified in Sections 8.1(g) or (h), such principal, interest, and other
Obligations (other than any Bank Products Obligations) shall thereupon and concurrently therewith become due and payable, and the
Commitments shall forthwith terminate, all without any action by the Lender Group, or any of them and without presentment, demand,
protest, or other notice of any kind, all of which are expressly waived, anything in this Agreement or in any other Loan Document
to the contrary notwithstanding.


 


(c)          The
Administrative Agent may in its discretion (unless otherwise instructed by the Required Lenders) or shall at the direction of the
Required Lenders exercise all of the post-default rights granted to the Lender Group, or any of them, under the Loan Documents
or under Applicable Law.


 


(d)          In
regard to all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of any acceleration
of the Obligations pursuant to the provisions of this Section 8.2 or, upon the request of the Administrative Agent, after the occurrence
of an Event of Default and prior to acceleration, the Borrower shall promptly upon demand by the Administrative Agent deposit in
a Letter of Credit Reserve Account opened by the Administrative Agent for the benefit of the Lender Group an amount equal to one
hundred and three percent (103%) of the aggregate then undrawn and unexpired amount of such Letter of Credit Obligations. Amounts
held in such Letter of Credit Reserve Account shall be applied by the Administrative Agent to the payment of drafts drawn under
such Letters of Credit, and the unused portion thereof after such Letters of Credit shall have expired or been fully drawn upon,
if any, shall be applied to repay other Obligations in the manner set forth in Section 2.12. Pending the application of such deposit
to the payment of the reimbursement obligations of the Borrower under Section 2.2(c), the Administrative Agent shall, to the extent
reasonably practicable, invest such deposit in an interest bearing open account or similar available savings deposit account and
all interest accrued thereon shall be held with such deposit as security for the Letter of Credit Obligations. After all such Letters
of Credit shall have expired or been fully drawn upon, all the reimbursement obligations of the Borrower under Section 2.2(c) shall
have been satisfied, and all other Letter of Credit Obligations shall have been paid in full, the balance, if any, in such Letter
of Credit Reserve Account shall be returned to the Borrower. Except as expressly provided hereinabove, presentment, demand, protest
and all other notices of any kind are hereby expressly waived by the Borrower.


 


(e)          The
rights and remedies of the Lender Group hereunder shall be cumulative, and not exclusive.


 


ARTICLE
9




THE ADMINISTRATIVE AGENT


 


Section 9.1           Appointment
of the Administrative Agent.


 


(a)          Each
Lender irrevocably appoints SunTrust Bank as the Administrative Agent and authorizes it to take such actions on its behalf and
to exercise such powers as are delegated to the Administrative Agent under this Agreement and the other Loan Documents, together
with all such actions and powers that are reasonably incidental thereto. The Administrative Agent may perform any of its duties
hereunder or under the other Loan Documents by or through any one or more sub-agents or attorneys-in-fact appointed by the Administrative
Agent. The Administrative Agent and any such sub-agent or attorney-in-fact may perform any and all of its duties and exercise its
rights and powers through their respective Related Parties. The exculpatory provisions set forth in this Article shall apply to
any such sub-agent, attorney-in-fact or Related Party and shall apply to their respective activities in connection with the syndication
of the credit facilities provided for herein as well as activities as the Administrative Agent.


 




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(b)          The
Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated
therewith until such time and except for so long as the Administrative Agent may agree at the request of the Required Lenders to
act for the Issuing Bank with respect thereto; provided that the Issuing Bank shall have all the benefits and immunities
(i) provided to the Administrative Agent in this Article with respect to any acts taken or omissions suffered by the Issuing Bank
in connection with Letters of Credit issued by it or proposed to be issued by it and the application and agreements for letters
of credit pertaining to the Letters of Credit as fully as if the term “Administrative Agent” as used in this Article
included the Issuing Bank with respect to such acts or omissions and (ii) as additionally provided in this Agreement with respect
to the Issuing Bank.


 


Section 9.2           Nature
of Duties of the Administrative Agent. The Administrative Agent shall not have any duties or obligations except those expressly
set forth in this Agreement and the other Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative
Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or an Event of Default has
occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any
discretionary powers, except those discretionary rights and powers expressly contemplated by the Loan Documents that the Administrative
Agent is required to exercise in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 10.12), 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 the Bankruptcy Code or any other bankruptcy law or that may effect a forfeiture, modification or termination
of property of a Defaulting Lender in violation of the Bankruptcy Code or any other bankruptcy law; and (c) except as expressly
set forth in the Loan Documents, the Administrative Agent shall not 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 Subsidiaries that is communicated to or obtained by
the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action
taken or not taken by it, its sub-agents or its attorneys-in-fact with the consent or at the request of the Required Lenders (or
such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.12) or in
the absence of its own gross negligence or willful misconduct. The Administrative Agent shall not be responsible for the negligence
or misconduct of any sub-agents or attorneys-in-fact selected by it with reasonable care. The Administrative Agent shall not be
deemed to have knowledge of any Default or Event of Default unless and until written notice thereof (which notice shall include
an express reference to such event being a “Default” or “Event of Default” hereunder) is given to the Administrative
Agent by the Borrower or any Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or
inquire into (i) any statement, warranty or representation made in or in connection with any 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 and conditions set forth in any Loan Document, (iv) the validity,
enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction
of any condition set forth in Article 4 or elsewhere in any Loan Document, other than to confirm receipt of items expressly required
to be delivered to the Administrative Agent. The Administrative Agent may consult with legal counsel (including counsel for the
Borrower) concerning all matters pertaining to such duties.


 


Section 9.3           Lack
of Reliance on the Administrative Agent. Each of the Lenders, the Swing Bank and the Issuing Bank acknowledges that it has,
independently and without reliance upon the Administrative Agent, the Issuing Bank or any other Lender 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 of the
Lenders, the Swing Bank and the Issuing Bank also acknowledges that it will, independently and without reliance upon the Administrative
Agent, the Issuing Bank or any other Lender and based on such documents and information as it has deemed appropriate, continue
to make its own decisions in taking or not taking any action under or based on this Agreement, any related agreement or any document
furnished hereunder or thereunder.


 




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Section 9.4           Certain
Rights of the Administrative Agent. If the Administrative Agent shall request instructions from the Required Lenders with respect
to any action or actions (including the failure to act) in connection with this Agreement, the Administrative Agent shall be entitled
to refrain from such act or taking such act unless and until it shall have received instructions from such Lenders, and the Administrative
Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender shall have
any right of action whatsoever against the Administrative Agent as a result of the Administrative Agent acting or refraining from
acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of this Agreement.


 


Section 9.5           Reliance
by the Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic
message, posting or other distribution) believed by it to be genuine and to have been signed, sent or made by the proper Person.
The Administrative Agent may also rely upon any statement made to it orally or by telephone and believed by it to be made by the
proper Person and shall not incur any liability for relying thereon. The Administrative Agent may consult with legal counsel (including
counsel for the Borrower), independent public 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 such counsel, accountants or experts.


 


Section 9.6           The
Administrative Agent in its Individual Capacity. The bank serving as the Administrative Agent shall have the same rights and
powers under this Agreement and any other Loan Document in its capacity as a Lender as any other Lender and may exercise or refrain
from exercising the same as though it were not the Administrative Agent; and the terms “Lenders”, “Required Lenders”,
“Required Revolving Lenders”, “Required DDTL Lenders” or any similar terms shall, unless the context clearly
otherwise indicates, include the Administrative Agent in its individual capacity. The bank acting as the Administrative Agent and
its Affiliates may accept deposits from, lend money to, and generally engage in any kind of business with the Borrower or any Subsidiary
or Affiliate of the Borrower as if it were not the Administrative Agent hereunder.


 


Section 9.7           Successor
Administrative Agent.


 


(a)          The
Administrative Agent may resign at any time by giving notice thereof to the Lenders and the Borrower. Upon any such resignation,
the Required Lenders shall have the right to appoint a successor Administrative Agent, subject to approval by the Borrower provided
that no Default or Event of Default shall exist at such time. If no successor Administrative Agent shall have been so appointed,
and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of resignation,
then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent which shall be a
commercial bank organized under the laws of the United States or any state thereof or a bank which maintains an office in the United
States.


 




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(b)          Upon
the acceptance of its appointment as the Administrative Agent hereunder by a successor, such successor Administrative Agent shall
thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent,
and the retiring  Administrative Agent shall be discharged from its duties and obligations under this Agreement and the
other Loan Documents. If, within forty-five (45) days after written notice is given of the retiring Administrative Agent’s
resignation under this Section, no successor Administrative Agent shall have been appointed and shall have accepted such appointment,
then on such 45th day (i) the retiring Administrative Agent’s resignation shall become effective, (ii) the retiring
Administrative Agent shall thereupon be discharged from its duties and obligations under the Loan Documents and (iii) the Required
Lenders shall thereafter perform all duties of the retiring Administrative Agent under the Loan Documents until such time as the
Required Lenders appoint a successor Administrative Agent as provided above. After any retiring Administrative Agent’s resignation
hereunder, the provisions of this Article shall continue in effect for the benefit of such retiring or removed Administrative Agent
and its representatives and agents in respect of any actions taken or not taken by any of them while it was serving as the Administrative
Agent. 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.


 


(c)          In
addition to the foregoing, if a Lender becomes, and during the period it remains, a Defaulting Lender, and if any Default has arisen
from a failure of the Borrower to comply with Section 2.15, then the Issuing Bank and the Swing Bank may, upon prior written notice
to the Borrower and the Administrative Agent, resign as Issuing Bank or as Swing Bank, as the case may be, effective at the close
of business Atlanta, Georgia time on a date specified in such notice (which date may not be less than five (5) Business Days after
the date of such notice).


 


Section 9.8           Withholding
Tax. To the extent required by any Applicable Law, the Administrative Agent may withhold from any interest payment to any Lender
an amount equivalent to any applicable withholding tax. If the Internal Revenue Service or any authority of the United States or
any other jurisdiction asserts a claim that the Administrative Agent did not properly withhold tax from amounts paid to or for
the account of any Lender (because the appropriate form was not delivered or was not properly executed, or because such Lender
failed to notify the Administrative Agent of a change in circumstances that rendered the exemption from, or reduction of, withholding
tax ineffective, or for any other reason), such Lender shall indemnify the Administrative Agent (to the extent that the Administrative
Agent has not already been reimbursed by the Borrower and without limiting the obligation of the Borrower to do so) fully for all
amounts paid, directly or indirectly, by the Administrative Agent as tax or otherwise, including penalties and interest, together
with all expenses incurred, including legal expenses, allocated staff costs and any out of pocket expenses.


 


Section 9.9           The
Administrative Agent May File Proofs of Claim.


 


(a)          In
case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition
or other judicial proceeding relative to any Credit Party, the Administrative Agent (irrespective of whether any Obligations shall
then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent
shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise:


 


(i)          to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the 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 Issuing Bank and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Lenders, the Issuing Bank and the Administrative Agent and its agents and counsel and all other amounts due the
Lenders, the Issuing Bank and the Administrative Agent under Article 6 and 10.2) allowed in such judicial proceeding; and


 


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


 




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(b)          Any
custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby
authorized by each Lender and the Issuing Bank to make such payments to the Administrative Agent and, if the Administrative Agent
shall consent to the making of such payments directly to the Lenders and the Issuing Bank, 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 Article 6 and 10.2.


 


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 Issuing Bank any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of
any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.


 


Section 9.10        Indemnification.
The Lenders shall indemnify (to the extent not reimbursed by the Borrower) and hold harmless the Administrative Agent and each
of its employees, representatives, officers, directors, agents, consultants, counsel, accountants, and advisors (each an “Administrative
Agent Indemnified Person”) pro rata in accordance with their Commitment Percentages from and against any and all claims,
liabilities, investigations, losses, damages, actions, demands, penalties, judgments, suits, investigations, costs, expenses (including
fees and expenses of experts, agents, consultants and counsel) and disbursements, in each case, of any kind or nature (whether
or not an Administrative Agent Indemnified Person or any such Lender is a party to any such action, suit or investigation) whatsoever
which may be imposed on, incurred by, or asserted against an Administrative Agent Indemnified Person resulting from any breach
or alleged breach by the Credit Parties of any representation or warranty made hereunder, or otherwise in any way relating to or
arising out of the Commitments, this Agreement, the other Loan Documents or any other document contemplated by this Agreement or
any action taken or omitted by the Administrative Agent under this Agreement, any other Loan Document, or any other document contemplated
by this Agreement (other than Bank Products Documents), the making, administration or enforcement of the Loan Documents and the
Loans or any transaction contemplated hereby or any related matters unless, with respect to any of the above, such Administrative
Agent Indemnified Person is determined by a final non-appealable judgment of a court of competent jurisdiction to have acted or
failed to act with gross negligence or willful misconduct. This Section 9.10 is for the benefit of each Administrative Agent Indemnified
Person and shall not in any way limit the obligations of the Credit Parties under Article 6. The provisions of this Section 9.10
shall survive the termination of this Agreement.


 


Section 9.11        Authorization
to Execute Other Loan Documents. Each Lender hereby authorizes the Administrative Agent to execute on behalf of all Lenders
all Loan Documents other than this Agreement.


 


Section 9.12         Guaranty
Matters.


 


(a)          Subject
to Section 6.10(b), a Guarantor shall automatically be released from its obligations under the Loan Documents upon the consummation
of any transaction permitted by this Agreement as a result of which such Guarantor ceases to be a Subsidiary.


 


(b)          Upon
request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s
authority to release any Credit Party from its obligations hereunder or under the applicable Loan Documents pursuant to this Section.
In each case as specified in this Section, the Administrative Agent is authorized, at the Borrower’s expense, to execute
and deliver to the applicable Credit Party such documents as such Credit Party may reasonably request to release such Credit Party
from its obligations under the applicable Loan Documents (including any Guarantor from its obligations under the Guaranty), in
each case in accordance with the terms of the Loan Documents and this Section. Any execution and delivery of documents pursuant
to this Section 9.12 shall be without recourse to or warranty by the Administrative Agent.


 




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Section 9.13         Syndication
Agents. Each Lender hereby designates Wells Fargo Bank, National Association, and U.S. Bank National Association as Co-Syndication
Agents and agrees that the Syndication Agents shall have no duties or obligations under any Loan Documents in their respective
capacities as Co-Syndication Agents to any Lender or any Credit Party.


 


Section 9.14         Right
to Enforce Guarantee. Anything contained in any of the Loan Documents to the contrary notwithstanding, the Borrower, the Administrative
Agent and each Lender hereby agree that no Lender shall have any right individually to enforce the Loan Documents, it being understood
and agreed that all powers, rights and remedies hereunder and under the Loan Documents may be exercised solely by the Administrative
Agent.


 


Section 9.15         Bank
Products Obligations. No Bank Products Provider that obtains the benefits of Section 2.12 by virtue of the provisions hereof
or of any other Loan Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder
or under any other Loan Document 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 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, Bank Products 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 Bank Products Provider, as the case may be.


 


ARTICLE
10



MISCELLANEOUS


 


Section 10.1         Notices.


 


(a)          All
notices and other communications under this Agreement shall be in writing and shall be deemed to have been given five (5) days
after deposit in the mail, designated as certified mail, return receipt requested, postage-prepaid, or one (1) day after being
entrusted to a reputable commercial overnight delivery service, or when sent out (with receipt confirmed) by facsimile (or to the
extent specifically permitted under Section 10.1(c) only, when sent out by electronic means) addressed to the party to which such
notice is directed at its address determined as in this Section 10.1. All notices and other communications under this Agreement
shall be given to the parties hereto at the following addresses:


 


		(i)	If to any Credit Party, to such Credit Party in care
of the Borrower at:



 


Vulcan Materials Company


1200 Urban Center Drive


Birmingham, Alabama 35242


Attn: Treasury Services


Telecopy No.: 205-298-2962


 


With a copy to
(which shall not constitute notice):


 


Vulcan Materials Company


1200 Urban Center Drive


Birmingham, Alabama 35242


Attn: Sam Todd, Esq.


 




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		(ii)	If to the Administrative Agent, to it at:



 


SunTrust Bank


3333 Peachtree Road NE, 8th Floor


Atlanta, GA 30326


Telecopy No.: 404-439-7409


Attention: Portfolio Manager


 


With a copy to
(which shall not constitute notice):


 


Jones Day


Suite 800


Atlanta, Georgia 30309


Attn: Aldo LaFiandra, Esq.


Telecopy No: 404-581-8330


 


(iii)        If
to the Lenders, to them at the addresses set forth on the signature pages of this Agreement or in any Assignment and Acceptance
pursuant to which such Lender became a Lender hereunder; and


 


(iv)        If
to the Issuing Bank, at the address set forth on the signature pages of this Agreement.


 


(b)          Any
party hereto may change the address to which notices shall be directed under this Section 10.1 by giving five (5) Business Days’
prior written notice of such change to the other parties.


 


(c)          (i)
Notices and other communications to the Lender Group hereunder may be delivered or furnished by electronic communication (including
email 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 Group member pursuant to ‎Article 2 if such Lender Group member,
as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Section by electronic
communication. The Administrative Agent or 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, (x) notices and other
communications sent to an email 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 email 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 (y) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed
receipt by the intended recipient at its email address as described in the foregoing clause (x) of notification that such notice
or communication is available and identifying the website address therefor.


 




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(ii)         Each
of the Credit Parties understands that the distribution of material through an electronic medium is not necessarily secure and
that there are confidentiality and other risks associated with such distribution and agrees and assumes the risks associated with
such electronic distribution, except to the extent caused by the willful misconduct or gross negligence of the Administrative Agent
as determined by a final, nonappealable court of competent jurisdiction.


 


(iii)        The
Platform is provided “as is” and “as available.” Neither of the Administrative Agent nor any of its officers,
directors, employees, agents, advisors or representatives warrant the accuracy, adequacy, or completeness of the Platform and each
expressly disclaims liability for errors or omissions in the Platform. 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 the Affiliates of the Administrative Agent in connection with the Platform.


 


(iv)        Each
of the Credit Parties, the Lenders and the Issuing Banks agree that the Administrative Agent may, but shall not be obligated to,
(A) store any electronic communications received in connection with this Agreement on the Platform in accordance with the Administrative
Agent’s customary document retention procedures and policies and (B) deliver any information required to be delivered to
the Lenders under Article 6 by posting such information on the Platform.


 


Section 10.2         Expenses.
The Borrower agrees to promptly pay or promptly reimburse:


 


(a)          All
reasonable out-of-pocket expenses of the Administrative Agent and its Affiliates in connection with the preparation, negotiation,
execution, delivery and syndication of this Agreement, and the other Loan Documents and the transactions contemplated hereunder
and thereunder, including, but not limited to, the reasonable fees and disbursements of counsel, advisors, and consultants for
the Administrative Agent and its Affiliates;


 


(b)          All
reasonable out-of-pocket expenses of the Administrative Agent and its Affiliates in connection with the administration of the transactions
contemplated in this Agreement, and the other Loan Documents, and the preparation, negotiation, execution, and delivery of any
waiver, amendment, or consent and all due diligence and audits related thereto by the Lenders relating to this Agreement, or the
other Loan Documents, including, but not limited to the reasonable fees and disbursements of counsel, advisors, and consultants
for the Administrative Agent and its Affiliates;


 


(c)          All
reasonable out-of-pocket expenses incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension
of any Letter of Credit or any demand for payment thereunder; and


 


(d)          All
out-of-pocket expenses of the Administrative Agent and its Affiliates, the Issuing Bank, the Swing Bank, and any Lender in connection
with any restructuring, refinancing, or “work out” of the transactions contemplated by this Agreement, and of obtaining
performance and enforcing their rights under this Agreement, and the other Loan Documents, and all out-of-pocket expenses of collection
if default is made in the payment of the Obligations, which in each case shall include the fees and out-of-pocket expenses of counsel
for the Administrative Agent, the Issuing Bank, the Swing Bank, any Lender and their respective Affiliates but limited, in the
case of legal fees and expenses, to the fees and expenses of one counsel for all parties absent a conflict of interest (and, in
the event of a conflict of interest, one additional counsel for the parties subject to such conflict) and the fees and out-of-pocket
expenses of any experts, consultants, agents, or advisors engaged by the Administrative Agent (on behalf of the Issuing Bank, the
Swing Bank, the Lenders, and any of their respective Affiliates).


 




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Section 10.3         Waivers.
The rights and remedies of the Lender Group under this Agreement, and the other Loan Documents shall be cumulative and not exclusive
of any rights or remedies which they would otherwise have. No failure or delay by the Lender Group, or any of them, or the Required
Lenders in exercising any right shall operate as a waiver of such right. The Lender Group expressly reserves the right to require
strict compliance with the terms of this Agreement in connection with any funding of a request for a Loan. In the event the Lenders
decide to fund a request for a Loan at a time when the Borrower is not in strict compliance with the terms of this Agreement, such
decision by the Lenders shall not be deemed to constitute an undertaking by the Lenders to fund any further requests for Loans
or preclude the Lenders from exercising any rights available to the Lenders under the Loan Documents or at law or equity. Any waiver
or indulgence granted by the Lenders, the Required Revolving Lenders, Required DDTL Lenders or the Required Lenders shall not constitute
a modification of this Agreement, except to the extent expressly provided in such waiver or indulgence, or constitute a course
of dealing by the Lenders at variance with the terms of the Agreement such as to require further notice by the Lenders of the Lenders’
intent to require strict adherence to the terms of the Agreement in the future. Any such actions shall not in any way affect the
ability of the Lenders, in their discretion, to exercise any rights available to them under this Agreement or under any other agreement,
whether or not the Lenders are party, relating to the Borrower.


 


Section 10.4         Set-Off.
In addition to any rights now or hereafter granted under Applicable Law and not by way of limitation of any such rights, except
to the extent limited by Applicable Law, at any time that an Event of Default exists, each member of the Lender Group and each
subsequent holder of the Obligations is hereby authorized by the Credit Parties at any time or from time to time, without notice
to the Credit Parties or to any other Person, any such notice being hereby expressly waived, to set-off and to appropriate and
apply any and all deposits (general or special, time or demand, including, but not limited to, Indebtedness evidenced by certificates
of deposit, in each case whether matured or unmatured, but not including any amounts held by any member of the Lender Group or
any of its Affiliates in any escrow account) and any other Indebtedness at any time held or owing by any member of the Lender Group
or any such holder to or for the credit or the account of any Credit Party, against and on account of the obligations and liabilities
of the Credit Parties, to any member of the Lender Group or any such holder under this Agreement, any Revolving Loan Notes, any
DDTL Loan Notes and any other Loan Document, including, but not limited to, all claims of any nature or description arising out
of or connected with this Agreement, any Revolving Loan Notes, any DDTL Loan Notes or any other Loan Document, irrespective of
whether or not (a) the Lender Group shall have made any demand hereunder or (b) the Lender Group shall have declared the Obligations
(other than Bank Products Obligations) to be due and payable as permitted by Section 8.2 and although said obligations and liabilities,
or any of them, shall be contingent or unmatured; provided that in the event that any Defaulting Lender shall exercise any
such right of set-off, (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 2.15 and, pending such payment, shall be segregated by such Defaulting Lender from
its other funds and deemed held in trust for the benefit of the Administrative Agent, the Issuing Bank, 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 set-off. Any sums obtained by any member of the Lender Group
or by any subsequent holder of the Obligations shall be subject to the application of payments provisions of Article 2.


 




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Section 10.5         Assignment.


 


(a)          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 no Credit Party may assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of each Lender (and any attempted assignment or transfer by any Credit Party without such consent
shall be null and void); provided that nothing in this Section shall prohibit any merger, consolidation, liquidation or
dissolution permitted under Section 7.4. 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 and, to the extent expressly contemplated
hereby, the Affiliates of the Administrative Agent) any legal or equitable right, remedy or claim under or by reason of this Agreement.


 


(b)          Any
Lender (and any Lender that is an Issuing Bank) may assign to one or more Eligible Assignees all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitments and Loans and, if applicable, all or a portion
of its portion of the Letter of Credit Commitment and excluding rights and obligations with respect to Bank Products Documents);
provided that (i) except in the case of an assignment of the entire remaining amount of the assigning Lender’s portion
of the Commitments and the Loans, the portion of the Commitments of the assigning Lender subject to each such assignment (determined
as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent), shall not
be less than $1,000,000, (ii) except in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund with
respect to a Lender, any assignment shall require the prior written consent of the Administrative Agent and, so long as no Default
or Event of Default exists, the Borrower (each such consent not to be unreasonably withheld or delayed); provided, however,
that if the consent of the Borrower to an assignment or to an Eligible Assignee is required hereunder (including a consent to an
assignment which does not meet the minimum assignment thresholds specified in this Section), the Borrower shall be deemed to have
given its consent five (5) Business Days after the date notice thereof has been delivered by the assigning Lender (through the
Administrative Agent) unless such consent is expressly refused by the Borrower prior to such fifth Business Day, (iii) each assignment
of Commitments and Loans shall be made on a ratable basis, between Revolving Commitments and DDTL Commitments, and between Revolving
Loans and DDTL Loans, and (iv) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment
and Acceptance, together with a processing and recordation fee of $3,500, and the Eligible Assignee, if it shall not be a Lender,
shall deliver to the Administrative Agent an Administrative Questionnaire. Not in limitation of the foregoing, 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, the Issuing Bank, the Swing Bank
and each other 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 Loans; provided, that, 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 sentence, 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 paragraph (c) of this Section, from and after the effective date specified in each Assignment and Acceptance,
the Eligible Assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Acceptance,
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 Acceptance, be released from its obligations under this Agreement (and, in the case of
an Assignment and Acceptance 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 2.9(b), 2.10, 6.14, 6.15, 11.3 and
11.5); provided that, except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting
Lender will constitute a waiver or release of any claim of any party hereunder arising from such Lender’s having been a Defaulting
Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph
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 paragraph (d) of this Section.


 




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(c)          The
Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at the Administrative Agent’s
Office a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of
the Lenders, and the portion of the Commitments of, and principal amount (and stated interest) of the Loans owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive,
absent manifest error, and the Borrower, the Administrative Agent and the Lenders 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. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time upon reasonable
prior notice.


 


(d)          Any
Lender may, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to one or more
banks or other entities (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 Commitments and/or Loans); 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, (iii) the Borrower and the Lender Group shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this Agreement and (iv) in no event shall
any Credit Party or any Affiliate of any Credit Party be a Participant. 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, to the extent the Participant is adversely effected
thereby, agree to any amendment, modification or waiver with respect to any extensions, postponements or delays of the applicable
Maturity Date or the scheduled date of payment of interest or principal or fees, any reduction of principal (without a corresponding
payment with respect thereto), or reduction in the rate of interest (other than a waiver in respect of application of the Default
Rate) or fees due to the Lender hereunder or any other Loan Documents. Subject to paragraph (e) of this Section, the Borrower agrees
that each Participant shall be entitled to the benefits of Sections 2.9(b), 2.10, 6.14, 6.15 and 11.3 to the same extent as if
it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted
by law, each Participant also shall be entitled to the benefits of Section 10.4 as though it were a Lender, provided such
Participant agrees to be subject to Sections 2.11(b) and 10.16 as though it were a Lender. Each Lender that sells a participation
agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the
provisions of Section 10.16 with respect to any Participant. Each Lender that sells a participation shall, acting solely for this
purpose as a non-fiduciary 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.


 




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(e)          A
Participant shall not be entitled to the benefits of Section 2.9(b) 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 2.9(b) as though it were
a Lender.


 


(f)          A
Participant shall not be entitled to receive any greater payment under Section 2.9(b) or Section 11.3 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.


 


(g)          Any
Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure
obligations of such Lender, including without limitation (i) any pledge or assignment to secure obligations to a Federal Reserve
Bank and (ii) in the case of any Lender that is a Fund, any pledge or assignment of all or any portion of such Lender’s rights
under this Agreement to any holders of obligations owed, or securities issued, by such Lender as security for such obligations
or securities, or to any trustee for, or any other representative of, such holders, and this Section shall not apply to any such
pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release
a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.


 


Section 10.6         Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such separate
counterparts shall together constitute but one and the same instrument. In proving this Agreement or any other Loan Document in
any judicial proceedings, it shall not be necessary to produce or account for more than one such counterpart signed by the party
against whom such enforcement is sought. Any signatures delivered by a party by facsimile transmission or by e-mail transmission
of an electronic file in Adobe Corporation’s Portable Document Format or PDF file shall be deemed an original signature hereto.
The foregoing shall apply to each other Loan Document mutatis mutandis.


 


Section 10.7         Under
Seal; Governing Law. This Agreement and the other Loan Documents are intended to take effect as sealed instruments and shall
be construed in accordance with and governed by the laws of the State of New York, without regard to the conflict of laws principles
thereof, except to the extent otherwise provided in the Loan Documents.


 


Section 10.8         Severability.
Any provision of this Agreement which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity or enforceability
of such provision in any other jurisdiction.


 


Section 10.9         Headings.
Headings used in this Agreement are for convenience only and shall not be used in connection with the interpretation of any provision
hereof.


 


Section 10.10       Source
of Funds. Notwithstanding the use by the Lenders of the Base Rate and the Eurodollar Rate as reference rates for the determination
of interest on the Loans, the Lenders shall be under no obligation to obtain funds from any particular source in order to charge
interest to the Borrower at interest rates tied to such reference rates.


 




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Section 10.11     Entire
Agreement. THIS WRITTEN AGREEMENT, TOGETHER WITH THE OTHER LOAN DOCUMENTS, REPRESENTS THE FINAL AGREEMENT BETWEEN 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 BETWEEN THE PARTIES. Each Credit Party represents and warrants to the Lender Group that it has read the provisions
of this Section 10.11 and discussed the provisions of this Section 10.11 and the rest of this Agreement with counsel for such Credit
Party, and such Credit Party acknowledges and agrees that the Lender Group is expressly relying upon such representations and warranties
of such Credit Party (as well as the other representations and warranties of such Credit Party set forth in this Agreement and
the other Loan Documents) in entering into this Agreement.


 


Section 10.12       Amendments
and Waivers.


 


(a)          Neither
this Agreement nor any other Loan Document may be amended or waived orally but instead may only be amended or waived by an instrument
in writing signed by the Required Lenders, or in the case of Loan Documents executed by the Administrative Agent (and not the other
members of the Lender Group), signed by the Administrative Agent and approved by the Required Lenders and, in the case of an amendment,
also by the Borrower, except that: (i) (A) except as provided in Sections 9.12 and 9.15, the consent of each of the Lenders shall
be required for any release of all or substantially all of the value of the Guaranty under Article 3, or any contractual
subordination of the payment of the Obligations to any other Indebtedness, (B) the consent of each of the Lenders affected thereby
shall be required for any extensions, postponements or delays of the Maturity Date or the scheduled date of payment of interest
or principal or fees, or any reduction of principal (without a corresponding payment with respect thereto), or reduction in the
rate of interest or fees due to the Lenders hereunder or under any other Loan Documents (other than a waiver in respect of matters
related to the Default Rate, which shall require the approval of only the Required Lenders), or any amendment or modification of
the definition of “Applicable Margin” or the definition of any component thereof if the effect thereof is to reduce
the rate of interest or fees due to the Lenders hereunder or under any other Loan Documents, (C) the consent of each of the Lenders
affected thereby shall be required for any amendment of this Section 10.12 or of the definition of “Required Lenders”
or “Required Revolving Lenders” or “Required DDTL Lenders” or any other provision of the Loan Documents
specifying the number or percentage of Lenders required to waive, amend or modify any rights thereunder or make any determination
or grant any consent thereunder; (D) the Commitments of a Lender may not be increased without the consent of such Lender; and (E)
the consent of each of the Lenders shall be required for any amendment to Section 2.11 or 2.12; (ii) the consent of the Issuing
Bank shall be required for any amendment to Section 2.2, Section 2.15 (as it relates to the issuance of any Letter of Credit),
or the definition of “Letter of Credit Commitment”; (iii) the consent of the Guarantors and the Required Lenders shall
be required for any amendment to Article 3; (iv) the consent of the Swing Bank shall be required for any amendment to Section 2.1(b),
Section 2.3(d), or Section 2.15 (as it relates to the making of any Swing Loan); (v) the consent of the Administrative Agent only
shall be required to amend Schedule 1.1(a) to reflect assignments of all or any portion of the Commitments and Loans in
accordance with this Agreement; (vi) the consent of the Required Revolving Lenders shall be required to waive any condition set
forth in Section 4.2, with respect to any borrowing of Revolving Loans; and (vii) the consent of the Required DDTL Lenders shall
be required to waive any condition set forth in Section 4.2, with respect to the making of any DDTL Loan; provided that
any amendment or waiver under this Agreement or the other Loan Documents which by its terms requires the consent of all Lenders
or each affected Lender may be accomplished without the consent of any Defaulting Lender except that (a) the Commitments of such
Defaulting Lender may not be increased or extended without the consent of such Defaulting Lender and (b) 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. In addition to the required consents
set forth above, if any Credit Party has entered into a Hedge Transaction with SunTrust Bank or any of its Affiliates while SunTrust
Bank was the Administrative Agent, and if SunTrust Bank is no longer the Administrative Agent, the consent of SunTrust Bank or
such Affiliate of SunTrust Bank, as applicable, shall be required for any amendment to Section 2.12 or any amendment described
in clause (i)(A) above. Any amendment, modification, waiver, consent, termination or release of any Bank Products Documents may
be effected by the parties thereto without the consent of the Lender Group. Notwithstanding anything contained herein to the contrary,
this Agreement may be amended and restated without the consent of any Lender (but with the consent of the Borrower and the Administrative
Agent) if, upon giving effect to such amendment and restatement, such Lender shall no longer be a party to this Agreement (as so
amended and restated), the portion of the Revolving Loan Commitment, DDTL Commitment and Letter of Credit Commitment, if applicable,
of such Lender shall have terminated (but such Lender shall be entitled to the benefit of Article 11 and Section 10.2),
such Lender shall have no other commitment or other obligation hereunder and shall have been paid in full all principal, interest
and other amounts owing to it or accrued for its account under this Agreement. Any provision of this Agreement or any other Loan
Document may be amended by an agreement in writing entered into by the Borrower and the Administrative Agent to cure any ambiguity,
omission, defect or inconsistency and to reflect entity name changes and organizational restructurings permitted hereunder so long
as, in each case, the Lenders shall have received at least five (5) Business Days’ prior written notice thereof and the Administrative
Agent shall not have received, within five Business Days of the date of such notice to the Lenders, a written notice from the Required
Lenders stating that the Required Lenders object to such amendment.


 




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(b)         Each
Lender grants to the Administrative Agent the right to purchase all (but not less than all) of such Lender’s portion of the
Commitments, the Letter of Credit Commitment, the Loans and Letter of Credit Obligations and any Revolving Loan Notes and DDTL
Loan Notes held by it and all of its rights and obligations hereunder and under the other Loan Documents at a price equal to the
par value of the Obligations (other than Bank Products Obligations) owed to such Lender under the Loan Documents plus the amount
necessary to cash collateralize any Letters of Credit issued by such Lender, which right may be exercised by the Administrative
Agent if such Lender for whatever reason fails to execute and deliver any amendment, waiver or consent which requires the written
consent of all of the Lenders and to which the Required Lenders, the Administrative Agent and the Borrower have agreed, within
five (5) Business Days of the date the execution version thereof was delivered to such Lender. Each Lender agrees that if the Administrative
Agent exercises its option hereunder, it shall promptly (but, in any event, within three (3) Business Days) execute and deliver
an Assignment and Acceptance and other agreements and documentation necessary to effectuate such assignment. The Administrative
Agent may assign its purchase rights hereunder to any assignee if such assignment complies with the requirements of Section 10.5(b).


 


(c)          If
any fees are paid to the Lenders as consideration for amendments, waivers or consents with respect to this Agreement, at the Administrative
Agent’s election, such fees may be paid only to those Lenders that agree to such amendments, waivers or consents within the
time specified for submission thereof.


 


Section 10.13       Other
Relationships. No relationship created hereunder or under any other Loan Document shall in any way affect the ability of any
member of the Lender Group to enter into or maintain business relationships with the Borrower, or any of its Affiliates, beyond
the relationships specifically contemplated by this Agreement and the other Loan Documents.


 


Section 10.14       Pronouns.
The pronouns used herein shall include, when appropriate, either gender and both singular and plural, and the grammatical construction
of sentences shall conform thereto.


 




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Section 10.15       Disclosure.
The Administrative Agent, with the consent of the Borrower, shall have the right to issue press releases regarding the making of
the Loans and issuance of Letters of Credit and the Commitments to the Borrower pursuant to the terms of this Agreement.


 


Section 10.16      Replacement
of Lender. In the event that a Replacement Event (as defined below) occurs and is continuing with respect to any Lender, the
Borrower may designate another financial institution (such financial institution being herein called a “Replacement Lender”)
acceptable to the Administrative Agent, and which is not the Borrower or an Affiliate of the Borrower, to assume such Lender’s
Commitments hereunder, to purchase the Loans and participations of such Lender and such Lender’s rights hereunder and (if
such Lender is the Issuing Bank) to issue Letters of Credit in substitution for all Letters of Credit issued by such Lender, without
recourse to or representation or warranty by, or expense to, such Lender for a purchase price equal to the par value of the Obligations
owed to such Lender under the Loan Documents plus amounts necessary to cash collateralize any Letters of Credit issued by such
Lender, and upon such assumption, purchase and substitution, and subject to the execution and delivery to the Administrative Agent
by the Replacement Lender of documentation satisfactory to the Administrative Agent (pursuant to which such Replacement Lender
shall assume the obligations of such original Lender under this Agreement), the Replacement Lender shall succeed to the rights
and obligations of such Lender hereunder and such Lender shall no longer be a party hereto or have any rights hereunder provided
that the obligations of the Borrower to indemnify such Lender with respect to any event occurring or obligations arising before
such replacement shall survive such replacement. The Administrative Agent is hereby irrevocably appointed as attorney-in-fact to
execute any such documentation on behalf of any Replacement Lender if such Replacement Lender fails to execute same within five
(5) Business Days after being presented with such documentation. “Replacement Event” shall mean, with respect
to any Lender, (a) the commencement of or the taking of possession by, a receiver, custodian, conservator, trustee or liquidator
of such Lender, or the declaration by the appropriate regulatory authority that such Lender is insolvent; (b) the making of any
claim by any Lender under Section 2.9(b), 11.2, 11.3 or 11.5, unless the changing of the lending office by such Lender would obviate
the need of such Lender to make future claims under such Sections; (c) such Lender’s becoming a Defaulting Lender; or (d)
such Lender refuses to consent to a proposed amendment, modification, waiver or other action requiring consent of the holders of
100% of the Commitments or 100% of the affected Lenders under Section 10.12 that is consented to by the Required Lenders prior
to the replacement of any such Lenders in connection therewith.


 


Section 10.17       Confidentiality;
Material Non-Public Information.


 


(a)          No
member of the Lender Group shall disclose any material non-public confidential information (“MNPI”) regarding
the Credit Parties or their Subsidiaries without the consent of the Borrower, other than (i) to any Related Party of any member
of the Lender Group (it being understood that such Related Parties will be informed of the confidential nature of such information
and instructed to keep such information confidential), (ii) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, (iii) to the extent requested by any regulatory agency or authority purporting to have jurisdiction
over it (including any self-regulatory authority such as the National Association of Insurance Commissioners), (iv) to the extent
that such information becomes publicly available other than as a result of a breach of this Section, or which becomes available
to it on a non-confidential basis from a source other than the Credit Parties or any of their Subsidiaries, (v) in connection with
the exercise of any remedy hereunder or under any other Loan Documents or any suit, action or proceeding relating to this Agreement
or any other Loan Documents or the enforcement of rights hereunder or thereunder, (vi) to any assignee of or Participant in, or
any prospective assignee of or Participant in, any of its rights or obligations under this Agreement (subject to the acknowledgment
and acceptance by such assignee or participant that such MNPI is being disseminated on a confidential basis (on substantially the
terms set forth in this paragraph) in accordance with the standard processes of the Administrative Agent or customary market standards
for dissemination of such type of information (including “click-through” agreements), (vii) on a confidential basis
to any rating agency and (viii) on a confidential basis to the CUSIP Service Bureau or any similar organization.


 




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(b)          The
parties hereto agree that, except as provided in the immediately following sentence, all reports, notices, communications and other
information or materials provided or delivered by, or on behalf of, the Credit Parties or their Subsidiaries hereunder (collectively,
the “Borrower Materials”) shall be deemed to contain MNPI for purposes of US federal and state securities laws;
provided that, upon the request of the Administrative Agent from time to time, the Credit Parties shall be entitled to require
the Borrower to confirm whether any Borrower Materials that have been provided or delivered hereunder do not contain MNPI. The
Credit Parties represent, warrant, acknowledge and agree that the following documents and materials shall be deemed to be PUBLIC,
whether or not so marked, and do not contain any MNPI: (A) the Loan Documents, including the exhibits attached thereto, but excluding
the schedules attached thereto, (B) administrative materials of a customary nature prepared by the Credit Parties or Administrative
Agent (including, Request for Loan, Notices of Conversion/Continuation, Request for Letter of Credit, Swing Loan requests and any
similar requests or notices), and (C) information which has been filed by the Credit Parties with the Securities and Exchange Commission
or publicly disclosed by the Credit Parties. Before distribution of any Borrower Materials, at the request of the Administrative
Agent, the Credit Parties agree to execute and deliver to the Administrative Agent a letter authorizing distribution of the evaluation
materials to prospective Lenders and their employees willing to receive MNPI, and a separate letter authorizing distribution of
evaluation materials that do not contain MNPI and represent that no MNPI is contained therein.


 


Section 10.18       Revival
and Reinstatement of Obligations. If the incurrence or payment of the Obligations by the Borrower or any other Credit Party,
or the transfer to the Lender Group of any property, should for any reason subsequently be declared to be void or voidable under
any state or Federal law relating to creditors’ rights, including provisions of the Bankruptcy Code relating to fraudulent
conveyances, preferences or other voidable or recoverable payments of money or transfers of property (collectively, a “Voidable
Transfer”), and if the Lender Group, or any of them, is required to repay or restore, in whole or in part, any such Voidable
Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof
that the Lender Group, or any of them, is required or elects to repay or restore, and as to all reasonable costs, expenses and
attorneys fees of the Lender Group related thereto, the liability of the Borrower or such other Credit Party, as applicable, automatically
shall be revived, reinstated and restored and shall exist as though such Voidable Transfer had never been made.


 


Section 10.19       Contribution
Obligations.


 


(a)          Each
Credit Party hereby subordinates any claims, including any right of payment, subrogation, contribution and indemnity, that it may
have from or against any other Credit Party, and any successor or assign of any other Credit Party, including any trustee, receiver
or debtor-in-possession, howsoever arising, due or owing or whether heretofore, now or hereafter existing, to the prior payment
in full of all of the Obligations (other than contingent indemnification obligations for which no claim has been made) in cash
and termination of all Commitments; provided, unless an Event of Default shall then exist, the foregoing shall not prevent
or prohibit the repayment of intercompany accounts and loans, or intercompany asset transfers, among the Credit Parties in the
ordinary course of business.


 




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(b)          Notwithstanding
any provision to the contrary contained herein or in any other of the Loan Documents, to the extent the joint obligations of any
Credit Party shall be adjudicated to be invalid or unenforceable for any reason (including, without limitation, because of any
applicable state or Federal law relating to fraudulent conveyances or transfers) then the obligations of each Credit Party hereunder
shall be limited to the maximum amount that is permissible under applicable law (whether Federal or state and including, without
limitation, the Bankruptcy Code), after taking into account, among other things, such Credit Party’s right of contribution
and indemnification from each other Credit Party under this Agreement or applicable law.


 


(c)          The
provisions of this Section 10.19 are made for the benefit of the Lenders and their respective successors and permitted assigns,
and may be enforced by any such Person from time to time against any of the Credit Parties as often as occasion therefor may arise
and without requirement on the part of any Lender first to marshal any of its claims or to exercise any of its rights against any
of the other Credit Parties or to exhaust any remedies available to it against any of the other Credit Parties or to resort to
any other source or means of obtaining payment of any of the Obligations or to elect any other remedy. The provisions of this Section
10.19 shall remain in effect until the payment in full of all of the Obligations (other than contingent indemnification obligations
for which no claim has been made) in cash and termination of all Commitments. If at any time, any payment, or any part thereof,
made in respect of any of the Obligations, is rescinded or must otherwise be restored or returned by any Lender upon the insolvency,
bankruptcy or reorganization of any of the Credit Parties, or otherwise, the provisions of this Section 10.19 will forthwith be
reinstated in effect, as though such payment had not been made.


 


Section 10.20      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), each Credit Party acknowledges
and agrees that: (a) (i) the arranging and other services regarding this Agreement provided by the Lender Group members are arm’s-length
commercial transactions between such Credit Party and its Affiliates, on the one hand, and the Lender Group members, on the other
hand, (ii) such Credit Party has consulted its own legal, accounting, regulatory, and tax advisors to the extent it has deemed
appropriate, and (iii) such Credit Party is capable of evaluating, and understands and accepts, the terms, risks, and conditions
of the transactions contemplated hereby and by the other Loan Documents; (b) (i) each of the Lender Group members 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 any Credit Party or any of its Affiliates, or any other Person and (B) no
Lender Group member has any obligation to any Credit Party 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 (c) each of the Lender Group members
and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of
such Credit Party and its Affiliates, and no Lender Group member has any obligation to disclose any of such interests to such Credit
Party or its Affiliates. To the fullest extent permitted by law, each Credit Party hereby waives and releases any claims that it
may have against each of the Lender Group members with respect to any breach or alleged breach of agency or fiduciary duty in connection
with any aspect of any transaction contemplated hereby.


 


Section 10.21      Qualified
ECP Keepwell. Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes
to provide such funds or other support as may be needed from time to time by each other Credit Party to honor all of such Credit
Party’s obligations under its Guaranty hereunder in respect of Hedge Obligations (provided, however, that each
Qualified ECP Guarantor shall only be liable under this Section 10.21 for the maximum amount of such liability that can be hereby
incurred without rendering its obligations under this Section 10.21 or otherwise under its Guaranty hereunder, as it relates to
such other Credit Party, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any
greater amount). The obligations of each Qualified ECP Guarantor under this Section 10.21 shall remain in full force and effect
until termination of all 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 any Letter of Credit for which the Letter of Credit Obligations
have been Cash Collateralized or as to which other arrangements satisfactory to the Administrative Agent and the applicable Issuing
Bank shall have been made). Each Qualified ECP Guarantor intends that this Section 10.21 constitute, and this Section 10.21 shall
be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Credit Party for all
purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.


 




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Section 10.22     Patriot
Act. The Administrative Agent and each Lender hereby notifies the Credit Parties that, pursuant to the requirements
of the Patriot Act, it is required to obtain, verify and record information that identifies each Credit Party, which information
includes the name and address of such Credit Party and other information that will allow such Lender or the Administrative Agent,
as applicable, to identify such Credit Party in accordance with the Patriot Act.


 


Section 10.23      Acknowledgement
and Consent to Bail-In of EEA Financial Institutions. 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
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 party hereto 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;


 


(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.


 


ARTICLE
11




YIELD PROTECTION


 


Section 11.1        Eurodollar
Rate Basis Determination. Notwithstanding anything contained herein which may be construed to the contrary, if with respect
to any proposed Eurodollar Loan for any Eurodollar Loan Period, the Administrative Agent determines that deposits in Dollars (in
the applicable amount) are not being offered to leading banks in the London interbank market for such Eurodollar Loan Period, the
Administrative Agent shall forthwith give notice thereof to the Borrower and the Lenders, whereupon until the Administrative Agent
notifies the Borrower that the circumstances giving rise to such situation no longer exist, the obligations of the Lenders to make
Eurodollar Loans shall be suspended.


 




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Section 11.2         Illegality.
If any Change in Law shall make it unlawful or impossible for any Lender to make, maintain, or fund its Eurodollar Loans, such
Lender shall so notify the Administrative Agent, and the Administrative Agent shall forthwith give notice thereof to the other
Lenders and the Borrower. Before giving any notice to the Administrative Agent pursuant to this Section 11.2, such Lender shall
designate a different lending office if such designation will avoid the need for giving such notice and will not, in the judgment
of such Lender, be otherwise disadvantageous to such Lender. Upon receipt of such notice, notwithstanding anything contained in
Article 2, the Borrower shall repay in full the amount of each affected Eurodollar Loan of such Lender, together with accrued interest
thereon, either (a) on the last day of the then current Eurodollar Loan Period applicable to such Eurodollar Loan if such Lender
may lawfully continue to maintain and fund such Eurodollar Loan to such day or (b) immediately if such Lender may not lawfully
continue to fund and maintain such Eurodollar Loan to such day. Concurrently with repaying each affected Eurodollar Loan of such
Lender, notwithstanding anything contained in Article 2, the Borrower shall borrow a Base Rate Loan from such Lender, and such
Lender shall make such Base Rate Loan in an amount such that the amount of the Loans held by such Lender shall equal the amount
of such Loans immediately prior to such repayment.


 


Section 11.3         Increased
Costs.


 


(a)          If
any Change in Law:


 


(i)          Shall
subject any Lender to any tax, duty, or other charge with respect to its obligation to make Eurodollar Loans or its Eurodollar
Loans (other than Indemnified Taxes or Excluded Taxes);


 


(ii)         Shall
impose, modify, or deem applicable any reserve (including, without limitation, any imposed by the Board of Governors of the Federal
Reserve System, but excluding any included in an applicable Eurodollar Reserve Percentage), special deposit, assessment, or similar
requirement or condition against assets of, deposits (other than as described in Section 11.5) with or for the account of, or commitments
or credit extended by any Lender, or shall impose on any Lender or the Eurodollar interbank borrowing market any other condition
affecting its obligation to make such Eurodollar Loans or its Eurodollar Loans;


 


(iii)        Shall
subject the Issuing Bank or any Lender to any tax, duty or other charge with respect to the obligation to issue Letters of Credit,
maintain Letters of Credit or participate in Letters of Credit (other than Indemnified Taxes or Excluded Taxes); or


 


(iv)        Shall
impose, modify, or deem applicable any reserve (including, without limitation, any imposed by the Board of Governors of the Federal
Reserve System), special deposit, assessment, or similar requirement or condition against assets of, deposits (other than as described
in Section 11.5) with or for the account of, or commitments or credit extended by the Issuing Bank, or shall impose on the Issuing
Bank or any Lender any other condition affecting the obligation to issue Letters of Credit, maintain Letters of Credit or participate
in Letters of Credit


 


and the result of any of
the foregoing shall be to increase the cost to such Lender or Issuing Bank of making or maintaining any Loan, or to increase the
cost to such Lender or such Issuing Bank of participating in, issuing or maintaining any Letter of Credit and such increase is
not given effect in the determination of the Eurodollar Rate, or to reduce the amount of any sum received or receivable by such
Lender or such Issuing Bank hereunder, then promptly upon demand, which demand shall be accompanied by the certificate described
in Section 11.3(b), by such Lender or Issuing Bank, the Borrower agrees to pay, without duplication of amounts due under Section
2.9(b), to such Lender or Issuing Bank such additional amount or amounts as will compensate such Lender or Issuing Bank for such
increased costs. Each Lender or Issuing Bank will promptly notify the Borrower and the Administrative Agent of any event of which
it has knowledge, occurring after the date hereof, which will entitle such Lender or the Issuing Bank to compensation pursuant
to this Section 11.3 and will designate a different lending office if such designation will avoid the need for, or reduce the amount
of, such compensation and will not, in the sole judgment of such Lender or the Issuing Bank, be otherwise disadvantageous to such
Lender or the Issuing Bank.


 




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(b)          A
certificate of any Lender or the Issuing Bank claiming compensation under this Section 11.3 and setting forth the additional amount
or amounts to be paid to it hereunder and calculations therefor shall be conclusive in the absence of manifest error. In determining
such amount, such Lender or the Issuing Bank may use any reasonable averaging and attribution methods. If any Lender demands compensation
under this Section 11.3, the Borrower may at any time, upon at least three (3) Business Days prior notice to such Lender, prepay
in full the then affected Eurodollar Loans of such Lender, together with accrued interest thereon to the date of prepayment, along
with any reimbursement required under Section 2.10. Concurrently with prepaying such Eurodollar Loans, the Borrower shall borrow
a Base Rate Loan, or a Eurodollar Loan not so affected, from such Lender, and such Lender shall make such Loan in an amount such
that the amount of the Loans held by such Lender shall equal the amount of such Loans immediately prior to such prepayment.


 


(c)          The
Issuing Bank and each Lender shall endeavor to notify the Borrower of any event occurring after the date of this Agreement entitling
the Issuing Bank or such Lender, as the case may be, to compensation under this Section 11.3 within one hundred eighty (180) days
after the Issuing Bank or such Lender, as the case may be, obtains actual knowledge thereof; provided that the Issuing Bank
or such Lender, as the case may be, shall, with respect to compensation payable pursuant to this Section 11.3 in respect of any
costs resulting from such event, only be entitled to payment under this Section 11.3 for costs incurred from and after the date
one hundred eighty (180) days prior to the date that the Issuing Bank or such Lender, as the case may be, gives notice to the Borrower
of such event.


 


Section 11.4         Effect
On Other Loans. If notice has been given pursuant to Sections 11.1, 11.2 or 11.3 suspending the obligation of any Lender to
make any Eurodollar Loan, or requiring Eurodollar Loans of any Lender to be repaid or prepaid, then, unless and until such Lender
(or, in the case of Section 11.1, the Administrative Agent) notifies the Borrower that the circumstances giving rise to such repayment
no longer apply, all Loans which would otherwise be made by such Lender as to the Eurodollar Loans affected shall, at the option
of the Borrower, be made instead as Base Rate Loans.


 


Section 11.5         Capital
Adequacy. If any Lender or Issuing Bank (or any holding company of the foregoing) shall have reasonably determined that a Change
in Law has or would have the effect of reducing the rate of return on such Lender’s or Issuing Bank’s (or any holding
company of the foregoing) capital or liquidity as a consequence of such Lender’s or Issuing Bank’s portion of the Commitments
or obligations hereunder to a level below that which it could have achieved but for such Change in Law (taking into consideration
such Lender’s or Issuing Bank’s (or any holding company of the foregoing) policies with respect to capital adequacy
or liquidity immediately before such Change in Law and assuming that such Lender’s or Issuing Bank’s (or any holding
company of the foregoing) capital was fully utilized prior to such adoption, change or compliance), then, promptly upon demand,
which demand shall be accompanied by the certificate described in the last sentence of this Section 11.5, by such Lender or Issuing
Bank, the Borrower shall immediately pay to such Lender or Issuing Bank such additional amounts as shall be sufficient to compensate
such Lender or Issuing Bank for any such reduction actually suffered; provided, however, that there shall be no duplication
of amounts paid to a Lender pursuant to this sentence and Section 11.3. A certificate of such Lender or Issuing Bank setting forth
the amount to be paid to such Lender or Issuing Bank by the Borrower as a result of any event referred to in this paragraph shall,
absent manifest error, be conclusive. The Issuing Bank and each Lender shall endeavor to notify the Borrower of any event occurring
after the date of this Agreement entitling the Issuing Bank or such Lender, as the case may be, to compensation under this Section
11.5 within one hundred eighty (180) days after the Issuing Bank or such Lender, as the case may be, obtains actual knowledge thereof;
provided that the Issuing Bank or such Lender, as the case may be, shall, with respect to compensation payable pursuant
to this Section 11.5 in respect of any costs resulting from such event, only be entitled to payment under this Section 11.5 for
costs incurred from and after the date one hundred eighty (180) days prior to the date that the Issuing Bank or such Lender, as
the case may be, gives notice to the Borrower of such event.


 




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ARTICLE
12




JURISDICTION, VENUE AND WAIVER OF JURY TRIAL


 


Section 12.1         Jurisdiction
and Service of Process. FOR PURPOSES OF ANY LEGAL ACTION OR PROCEEDING BROUGHT BY ANY MEMBER OF THE LENDER GROUP WITH RESPECT
TO THIS AGREEMENT, OR ANY OTHER LOAN DOCUMENT, EACH CREDIT PARTY HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE
FEDERAL AND STATE COURTS SITTING IN THE STATE OF NEW YORK AND HEREBY IRREVOCABLY DESIGNATES AND APPOINTS, AS ITS AUTHORIZED AGENT
FOR SERVICE OF PROCESS, THE BORROWER, OR SUCH OTHER PERSON AS SUCH CREDIT PARTY SHALL DESIGNATE HEREAFTER BY WRITTEN NOTICE GIVEN
TO THE ADMINISTRATIVE AGENT. THE LENDER GROUP SHALL FOR ALL PURPOSES AUTOMATICALLY, AND WITHOUT ANY ACT ON THEIR PART, BE ENTITLED
TO TREAT SUCH DESIGNEE OF EACH CREDIT PARTY AS THE AUTHORIZED AGENT TO RECEIVE FOR AND ON BEHALF OF SUCH CREDIT PARTY SERVICE OF
WRITS, OR SUMMONS OR OTHER LEGAL PROCESS, WHICH SERVICE SHALL BE DEEMED EFFECTIVE PERSONAL SERVICE ON SUCH CREDIT PARTY SERVED
WHEN DELIVERED, WHETHER OR NOT SUCH AGENT GIVES NOTICE TO SUCH CREDIT PARTY; AND DELIVERY OF SUCH SERVICE TO ITS AUTHORIZED AGENT
SHALL BE DEEMED TO BE MADE WHEN PERSONALLY DELIVERED OR THREE (3) BUSINESS DAYS AFTER MAILING BY REGISTERED OR CERTIFIED MAIL ADDRESSED
TO SUCH AUTHORIZED AGENT. EACH CREDIT PARTY FURTHER IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING
BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL TO SUCH CREDIT PARTY AT THE ADDRESS SET FORTH ABOVE, SUCH SERVICE
TO BECOME EFFECTIVE THREE (3) BUSINESS DAYS AFTER SUCH MAILING. IN THE EVENT THAT, FOR ANY REASON, SUCH AGENT OR ITS SUCCESSORS
SHALL NO LONGER SERVE AS AGENT OF EACH CREDIT PARTY TO RECEIVE SERVICE OF PROCESS, EACH CREDIT PARTY SHALL SERVE AND ADVISE THE
ADMINISTRATIVE AGENT THEREOF SO THAT AT ALL TIMES EACH CREDIT PARTY WILL MAINTAIN AN AGENT TO RECEIVE SERVICE OF PROCESS ON BEHALF
OF SUCH CREDIT PARTY WITH RESPECT TO THIS AGREEMENT, ALL OTHER LOAN DOCUMENTS AND THE BANK PRODUCTS DOCUMENTS. IN THE EVENT THAT,
FOR ANY REASON, SERVICE OF LEGAL PROCESS CANNOT BE MADE IN THE MANNER DESCRIBED ABOVE, SUCH SERVICE MAY BE MADE IN SUCH MANNER
AS PERMITTED BY LAW.


 


Section 12.2         Consent
to Venue. EACH CREDIT PARTY AND EACH MEMBER OF THE LENDER GROUP HEREBY IRREVOCABLY WAIVES ANY OBJECTION IT WOULD MAKE NOW OR
HEREAFTER FOR THE LAYING OF VENUE OF ANY SUIT, ACTION, OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR ANY OTHER
LOAN DOCUMENT BROUGHT IN THE FEDERAL COURTS OF THE UNITED STATES SITTING IN NEW YORK COUNTY, NEW YORK, AND HEREBY IRREVOCABLY WAIVES
ANY CLAIM THAT ANY SUCH SUIT, ACTION, OR PROCEEDING HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.


 




    	 	93	 



     


    

 


Section 12.3         Waiver
of Jury Trial. EACH CREDIT PARTY AND EACH MEMBER OF THE LENDER GROUP TO THE EXTENT PERMITTED BY APPLICABLE LAW WAIVES, AND
OTHERWISE AGREES NOT TO REQUEST, A TRIAL BY JURY IN ANY COURT AND IN ANY ACTION, PROCEEDING OR COUNTERCLAIM OF ANY TYPE IN WHICH
ANY CREDIT PARTY, ANY MEMBER OF THE LENDER GROUP OR ANY OF THEIR RESPECTIVE SUCCESSORS OR ASSIGNS IS A PARTY, AS TO ALL MATTERS
AND THINGS ARISING DIRECTLY OR INDIRECTLY OUT OF THIS AGREEMENT, THE OTHER LOAN DOCUMENTS AND THE RELATIONS AMONG THE PARTIES LISTED
IN THIS ARTICLE 12.


 


Section 12.4         Flood
Provisions. For the avoidance of doubt, as of the Closing Date, no mortgages or any other similar security instruments are
being entered into, provided, however, if at any time after the Closing Date, the Administrative Agent and Borrower agree
to require any of the Credit Parties to provide a mortgage or any other similar security instrument in favor of the Administrative
Agent for the benefit of the Lenders, then with respect to any such real property for which the Administrative Agent has a mortgage
or any other similar security instrument in its favor (the “Mortgaged Property”), the following requirements
must be satisfied:


 


(a)          the
Credit Party shall provide, prior to the effective date of any such requirement, with respect to each Mortgaged Property that is
located in an area identified by the Federal Emergency Management Agency (or any successor agency) as a “special flood hazard
area” with respect to which flood insurance has been made available under Flood Insurance Laws, the applicable Credit Party
(i) has obtained and will maintain, with financially sound and reputable insurance companies (except to the extent that any insurance
company insuring the property of the Borrower and each Subsidiary ceases to be financially sound and reputable after the effective
date, in which case, the Borrower shall promptly replace such insurance company with a financially sound and reputable insurance
company), such flood insurance in such total amount as is sufficient to comply with all applicable rules and regulations promulgated
pursuant to the Flood Insurance Laws or as otherwise reasonably required by the Administrative Agent or any Lender and (ii) promptly
upon request of the Administrative Agent or any Lender, will deliver to the Administrative Agent and the Lenders, evidence of such
compliance in form and substance reasonably acceptable to the Administrative Agent and the Lenders, including, without limitation,
evidence of annual renewals of such insurance;


 


(b)          in
the event such requirements are put in place, any increase, extension or renewal of the Commitments shall be subject to (and conditioned
upon): (i) the prior delivery of all flood hazard determination certifications, acknowledgements and evidence of flood insurance
and other flood-related documentation with respect to such Mortgaged Properties as required by Flood Insurance Law and (ii) the
Administrative Agent shall have received confirmation from the Lenders that flood insurance due diligence and flood insurance compliance
reasonably satisfactory to all Lenders (such confirmation not to be unreasonably withheld, conditioned or delayed) has been completed;
and


 


(c)          notwithstanding
the foregoing, the Administrative Agent shall not enter into any mortgage or any other similar security instrument in respect of
any real property acquired by the Borrower or any other Credit Party after the Closing Date until (i) the date that occurs fourteen
(14) days after the Administrative Agent has delivered to the Lenders (which may be delivered electronically) the following documents
in respect of such real property: (A) a completed flood hazard determination from a third party vendor; (B) if such real property
is located in a “special flood hazard area”, (1) a notification to the Borrower of that fact and (if applicable) notification
to the Borrower that flood insurance coverage is not available and (2) evidence of the receipt by the Borrower of such notice;
(ii) if such notice is required to be provided to the Borrower and flood insurance is available in the community in which such
real property is located, evidence of required flood insurance and (iii) the Administrative Agent shall have received confirmation
from the Lenders that flood insurance due diligence and flood insurance compliance reasonably satisfactory to all Lenders (such
confirmation not to be unreasonably withheld, conditioned or delayed) has been completed.


 


[Signatures on following pages.]


 




    	 	94	 



     


    

 


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


 


	BORROWER:	VULCAN MATERIALS COMPANY, 
	 	as the Borrower
	 	 	 	 
	 	By:	 	/s/ C. Wes Burton, Jr.
	 	 	Name:	C. Wes Burton, Jr.
	 	 	Title:	Vice President and Treasurer


 


[VULCAN – CREDIT AGREEMENT]


 




     


     


    

 


	
        GUARANTORS:

         

         
	
        ARUNDEL COMPANY, LLC

        FLORIDA ROCK INDUSTRIES, INC.

        HARPER BROTHERS, LLC

        LEGACY VULCAN, LLC

        MARYLAND STONE, LLC

        S & G CONCRETE COMPANY, LLC

        TCS MATERIALS, LLC

        VIRGINIA CONCRETE COMPANY, LLC

        VULCAN AGGREGATES COMPANY, LLC

        VULCAN CONSTRUCTION MATERIALS, LLC



 


	 	By:	 	/s/ C. Wes Burton, Jr.
	 	 	Name:	C. Wes Burton, Jr.
	 	 	Title:	Vice President and Treasurer
	 	 	 	 
	 	BRISA ACQUISITIONS, LLC
	 	FULTON CONCRETE COMPANY, LLC
	 	 	 	 
	 	By:	 	/s/ C. Wes Burton, Jr.
	 	 	Name:	C. Wes Burton, Jr.
	 	 	Title:	Vice President and Assistant
	 	 	 	Treasurer
	 	 	 	 
	 	CALMAT CO.
	 	TRIANGLE ROCK PRODUCTS, LLC
	 	 	 	 
	 	By:	 	/s/ C. Wes Burton, Jr.
	 	 	Name:	C. Wes Burton, Jr.
	 	 	Title:	Assistant Treasurer
	 	 	 	 
	 	AZUSA ROCK, LLC
	 	VULCAN LANDS, INC.
	 	 
	 	By:	 	/s/ C. Wes Burton, Jr.
	 	 	Name:	C. Wes Burton, Jr.
	 	 	Title:	Assistant Secretary and Assistant
	 	 	 	Treasurer


 


[VULCAN – CREDIT AGREEMENT]


 




     


     


    

 


	ADMINISTRATIVE AGENT

    AND LENDERS:	SUNTRUST BANK, as the Administrative
    Agent

    and a Lender 
	 	 	 	 
	 	By:	 	/s/ Chris Hursey
	 	 	Name:	Chris Hursey
	 	 	Title:	Director


 


[VULCAN – CREDIT AGREEMENT]


 




     


     


    

 


	 	BANK OF AMERICA, N.A., as a Lender 
	 	 
	 	By:	 	/s/ David B. Jackson
	 	 	Name:	David B. Jackson
	 	 	Title:	Senior Vice President
	 	 	 	 
	 	WELLS FARGO BANK, N.A., as a Lender
	 	 	 	 
	 	By:	 	/s/ Andrew G. Payne
	 	 	Name:	Andrew G. Payne
	 	 	Title:	Director
	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, N.A., as a Lender
	 	 	 	 
	 	By:	 	/s/ Jonathan F. Lindvall
	 	 	Name:	Jonathan F. Lindvall
	 	 	Title:	Senior Vice President
	 	 	 	 
	 	REGIONS BANK, as a Lender
	 	 	 	 
	 	By:	 	/s/ Brook H. Balogh
	 	 	Name:	Brook H. Balogh
	 	 	Title:	Senior Vice President
	 	 	 	 
	 	THE NORTHERN TRUST COMPANY, as a Lender
	 	 	 	 
	 	By:	 	/s/ Kimberly A. Crotty
	 	 	Name:	Kimberly A. Crotty
	 	 	Title:	VP


 


[VULCAN – CREDIT AGREEMENT]


 




     


     


    

 


	 	GOLDMAN SACHS BANK USA, as a Lender 
	 	 	 	 
	 	By:	 	/s/ Ryan Durkin
	 	 	Name:	Ryan Durkin
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	FIRST TENNESSEE BANK, as a Lender
	 	 	 	 
	 	By:	 	/s/ Jay W. Dale
	 	 	Name:	Jay W. Dale
	 	 	Title:	Senior Vice President
	 	 	 	 
	 	SYNOVUS BANK, as a Lender
	 	 	 	 
	 	By:	 	/s/ Anne H. Lovette
	 	 	Name:	Anne H. Lovette
	 	 	Title:	Director
	 	 	 	 
	 	ATLANTIC CAPITAL BANK, N.A., as a Lender
	 	 	 	 
	 	By:	 	/s/ Preston McDonald
	 	 	Name:	Preston McDonald
	 	 	Title:	Vice President


 


[VULCAN – CREDIT AGREEMENT]


 




     


     


    

 


EXHIBIT A


 


FORM OF ADMINISTRATIVE QUESTIONNAIRE


 


	Borrower’s Information
	 	 
	Borrower:	Vulcan Materials Company 
	Amount and Facility:	$750,000,000 Revolving Loan; $250,000,000 DDTL Loan 	 
	Closing Date:	December 21, 2016
	Tax ID#:	20-8579133
	Participant Information
	 	 
	Institution:	 
	 	(As it will appear in documents and subsequent announcements)
	Institution Tax ID#:	 
	 	 
	Is institution a foreign entity?	
         ̈   Yes.
        Please include the applicable W-8 BEN or W-8 ECI withholding form (or any successor form) for your entity.

         

         ̈   No.
        Please include the W-9 withholding form (or any successor form) for your entity.





 


	 	Credit Contact	 	Admin/Operations Contact
	 	 	 	 
	Primary Contact:	 	 	 
	Title:	 	 	 
	Street Address:	 	 	 
	City/State/Zip:	 	 	 
	Telephone Number:	 	 	 
	Fax Number:	 	 	 
	E-mail Address:	 	 	 


 


	 	Compliance Contact	 	Letter of Credit Contact
	 	 	 	 
	Primary Contact:	 	 	 
	Title:	 	 	 
	Street Address:	 	 	 
	City/State/Zip:	 	 	 
	Telephone Number:	 	 	 
	Fax Number:	 	 	 
	E-mail Address:	 	 	 


 




     


     


    

 


	

 Wire Routing Instructions
	 	 
	Bank Name:	 
	ABA Number:	 	 
	City/State:	 	 
	Account Name (OBI):	 
	Account Number:	 
	Beneficiary (BNF)	 
	Ref:	 


 





	Administrative Agent Information
	 
	Operations	 	Wire Instructions	 
	 	 	 	 	 	 
	Primary Contact:	 	 	Bank:	SunTrust Bank	 
	Telephone Number:	 	 	City/State	Atlanta, Georgia	 
	Fax Number:	 	 	ABA #:	061000104	 
	Address:	 	 	
         

         

        Credit:
	 	 
	 	 	 	Account #:	 	 
	 	 	 	Attention:	 	 
	 	 	 	Reference:	Vulcan Materials Company	 
	E-mail Address:	 	 	 	 	 




 


PLEASE COMPLETE THIS FORM AND FAX TO SUNTRUST BANK AT 404-439-7409


 




    	 	2	 



     


    

 


EXHIBIT B


 


FORM OF ASSIGNMENT AND ACCEPTANCE


 


Reference is made to that
certain Credit Agreement dated as of December 21, 2016 (as amended, restated, supplemented or otherwise modified from time to time,
the “Credit Agreement”; capitalized terms used herein without definitions shall have the meanings ascribed thereto
in the Credit Agreement), by and among Vulcan Materials Company, a New Jersey corporation (the “Borrower”),
the Persons party thereto from time to time as Guarantors, the financial institutions party thereto from time to time as lenders
(the “Lenders”), and SunTrust Bank, as the Administrative Agent (together with its successors and assigns, in
such capacity, the “Administrative Agent”).


 


The “Assignor”
and the “Assignee” referred to herein and listed on Schedule 1 hereto agree as follows:


 


1.          In
accordance with the terms and conditions of Section 10.5 of the Credit Agreement, the Assignor hereby sells and assigns to the
Assignee without recourse, and the Assignee hereby purchases and assumes from the Assignor, an interest in and to the Assignor’s
rights and obligations under the Credit Agreement as of the date hereof equal to the percentage interest specified on Schedule 1
of all outstanding rights and obligations under the Credit Agreement. After giving effect to such sale and assignment, the Assignee’s
portion of the Commitment, portion of the Letter of Credit Commitment, the amount of the Loans owing to the Assignee and participations
in outstanding Letters of Credit will be as set forth on Schedule 1.


 


2.          The
Assignor (a) represents and warrants that it is the legal and beneficial owner of the interest being assigned by it hereunder and
that such interest is free and clear of any adverse claim; (b) makes no representation or warranty and assumes no responsibility
with respect to any statements, warranties or representations made in or in connection with the Loan Documents or the execution,
legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any other instrument or document
furnished pursuant thereto; and (c) makes no representation or warranty and assumes no responsibility with respect to the
financial condition of the Credit Parties or the performance or observance by the Credit Parties of any of their obligations under
the Loan Documents or any other instrument or document furnished pursuant thereto.


 


3.          The
Assignee (a) confirms that it has received a copy of the Credit Agreement, together with copies of the most recent financial statements
delivered thereunder and such other documents and information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Assignment and Acceptance; (b) agrees that it will, independently and without reliance upon the Administrative
Agent, the Assignor or any other member of the Lender Group and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (c) confirms
that it is an Eligible Assignee; (d) appoints and authorizes the Administrative Agent to take such action as agents on its behalf
and to exercise such powers and discretion under the Credit Agreement and the other Loan Documents as are delegated to such agents,
by the terms thereof, together with such powers and discretion as are reasonably incidental thereto; (e) agrees that it will perform
in accordance with their terms all of the obligations that by the terms of the Credit Agreement and the other Loan Documents are
required to be performed by it as a Lender; and (f) attaches any U.S. Internal Revenue Service forms required under Section 2.9(b)(vi)
of the Credit Agreement and such other documents as may be required to be delivered by it under the Credit Agreement.


 




    	 	1	 



     


    

 


4.          Following
the execution hereof, the Assignor and the Assignee shall deliver this Assignment and Acceptance, along with (a) a processing and
recordation fee of $3,500 payable by the Assignee to the Administrative Agent and (b) if the Assignee is not a Lender, a completed
Administrative Questionnaire for acceptance and recording by the Administrative Agent. The effective date for this Assignment and
Acceptance (the “Effective Date”) shall be the latest to occur of (a) the date of the execution and delivery
hereof by the Assignor, the Assignee and the other parties whose consent to such assignment is required for such Assignee to constitute
an Eligible Assignee or is required pursuant to the terms of the Section 10.5 of the Credit Agreement, (b) the date of acceptance
and approval hereof in writing by the Administrative Agent and (c) the date specified on Schedule 1.


 


5.          Upon
such acceptance by the Administrative Agent and recording by the Administrative Agent, as of the Effective Date, (a) the Assignee
shall be a party to the Credit Agreement and, to the extent provided in this Assignment and Acceptance and the Credit Agreement,
shall have the rights and obligations of a Lender under the Credit Agreement and the other Loan Documents, and (b) the Assignor
shall, to the extent provided in this Assignment and Acceptance and the Credit Agreement, relinquish its rights and be released
from its obligations under the Credit Agreement and the other Loan Documents; provided, however, that nothing contained herein
shall release any assigning Lender from obligations that expressly survive the termination of the Credit Agreement.


 


6.          From
and after the Effective Date, the Administrative Agent shall make all payments in respect of the interest assigned hereby (including
payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective
Date and to the Assignee for amounts which have accrued from and after the Effective Date. Notwithstanding the foregoing, the Administrative
Agent shall make all payments of interest, fees or other amounts paid or payable in kind from and after the Effective Date to the
Assignee.


 


7.          This
Assignment and Acceptance shall be governed by, and construed in accordance with, the laws of the State of New York.


 


8.          This
Assignment and Acceptance may be executed in any number of counterparts, each of which shall be deemed to be an original, but all
such separate counterparts shall together constitute but one and the same agreement. In proving this Assignment and Acceptance
in any judicial proceedings, it shall not be necessary to produce or account for more than one such counterpart signed by the party
against whom such enforcement is sought. Any signatures delivered by a party by facsimile transmission or by e-mail transmission
of a file in Adobe Corporation’s portable document format (also known as PDF file) shall be deemed an original signature
hereto.


 


[Remainder of this page intentionally left blank]


 




    	 	2	 



     


    

 


IN WITNESS WHEREOF, the
Assignor and the Assignee have caused this Assignment and Acceptance to be executed by their authorized signatory as of the date
specified thereon.


 


	 	[NAME OF ASSIGNOR], as the Assignor
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 
	 	Date: [_________ __, 2___]
	 	 
	 	[NAME OF ASSIGNEE], as the Assignee
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 
	 	Date: [_________ __, 2___]


 


VULCAN-ASSIGNMENT AND ACCEPTANCE


 




     


     


    

 


	ACCEPTED AND APPROVED AS OF	 
	[_______________ ___, 2____]:	 
	 	 
	[SUNTRUST BANK, as the Administrative Agent]1	 
	 	 	 
	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 
	[VULCAN MATERIALS COMPANY,	 
	a New Jersey corporation]2	 
	 	 	 
	By:	 	 
	 	Name:	 	 
	 	Title:	 	 


 





 



1 If required by the Credit Agreement.


 


2 If required by the Credit Agreement.


 


VULCAN-ASSIGNMENT AND ACCEPTANCE


 




     


     


    

 


SCHEDULE 1


ASSIGNMENT AND ACCEPTANCE


 


ASSIGNOR:   [_________________________]


 


ASSIGNEE:    [_________________________]


 


	[Revolving Loan Commitment] [DDTL Commitment] of the Assignor prior to assignment [(including the Letter of Credit Commitment)]:	[Revolving Loan Commitment] [DDTL Commitment]: $[___________]
	 	 
	Amount of [Revolving Loan Commitment] [DDTL Commitment] assigned to the Assignee:	[Revolving Loan Commitment] [DDTL Commitment]: $[___________]
	 	 
	[Revolving Loan Commitment] [DDTL Commitment] of the Assignor after assignment [(including Letter of Credit Commitment)]:	[Revolving Loan Commitment] [DDTL Commitment]: $[___________]
	 	 
	The Assignee’s [Revolving Loan Commitment] [DDTL Commitment] Percentage after assignment:	[Revolving Loan Commitment] [DDTL Commitment] Percentage: [___________]%


 


	The Assignee’s domestic lending office:	
        [_____________________________

        _____________________________

        _____________________________]

         

	The Assignee’s Eurodollar lending office:	
        [_____________________________

        _____________________________

        _____________________________]

         

	Effective Date (if other than date of acceptance by the Administrative Agent):	[_______________, 2____]


 


VULCAN-ASSIGNMENT AND ACCEPTANCE


 




     


     


    

 


EXHIBIT c


 


FORM OF COMPLIANCE
CERTIFICATE


 


The undersigned hereby
certifies to the Administrative Agent that he or she is the [Chief Financial Officer] [Treasurer] of VULCAN MATERIALS COMPANY,
a New Jersey corporation (the “Borrower”). In connection with that certain Credit Agreement dated as of December
21, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
by and among the Borrower, the Persons party thereto from time to time as Guarantors, the financial institutions party thereto
from time to time as Lenders (the “Lenders”), and SunTrust Bank, as the Administrative Agent (together with
its successors and assigns in such capacity, the “Administrative Agent”), the undersigned, as the Borrower,
does hereby further certify to the Administrative Agent in the undersigned’s capacity as [Chief Financial Officer] [Treasurer]
of the Borrower and not in the undersigned’s individual capacity that:


 


1.          The
arithmetical calculations required to establish whether or not the Credit Parties are in compliance with the requirements of the
Financial Covenants as at the end of the applicable fiscal quarter (the “Specified Period”) are set forth on
Schedule 1 attached hereto (with detailed calculations attached hereto as Annex 1);


 


2.          To
the best of the undersigned’s knowledge, no Default or Event of Default has occurred as at the end of the Specified Period
[, except as described on Schedule 2 attached hereto (which schedule describes the nature of such Default or Event of Default,
when it occurred, whether it is continuing and specifies what action the Borrower has taken or propose to take with respect thereto)];
and


 


3.          Each
existing Domestic Subsidiary that became a Credit Party pursuant to Section 6.10 of the Credit Agreement is set forth on Schedule
3 attached hereto.


 


Capitalized terms used
herein and not otherwise defined are used as defined in the Credit Agreement.


 


[Signatures on following page.]


 




    	 	1	 



     


    

 


IN WITNESS WHEREOF, the
undersigned, in the undersigned’s capacity as [Chief Financial Officer] [Treasurer] of the Borrower, and not in the
undersigned’s individual capacity, has caused this Compliance Certificate to be executed on behalf the Borrower as of [__________,
20__].


 


	 	VULCAN MATERIALS COMPANY
	 	 	 
	 	By:	 
	 	Name:
	 	Title: [Chief Financial Officer] [Treasurer]


 


[VULCAN – COMPLIANCE CERTIFICATE]


 




     


     


    

 


SCHEDULE 1


 


[ATTACH DETAILED FINANCIAL
CALCULATIONS]


 


VULCAN-COMPLIANCE CERTIFICATE


 




     


     


    

 


[SCHEDULE 2


 


EVENTS OF DEFAULT]


 


VULCAN-COMPLIANCE CERTIFICATE


 




     


     


    

 


SCHEDULE 3


 


NON-CREDIT PARTY SUBSIDIARIES
THAT BECAME CREDIT PARTIES


 


VULCAN-COMPLIANCE CERTIFICATE


 




     


     


    

 


EXHIBIT D


 


FORM OF NOTICE OF CONVERSION/CONTINUATION


 


[_____________ ___, 2___]


 


I, [____________________________],
the [___________________] and an Authorized Signatory of VULCAN MATERIALS COMPANY, a New Jersey corporation (the “Borrower”),
do hereby certify on behalf of the Borrower, and not in my individual capacity, pursuant to the provisions of that certain Credit
Agreement dated as of December 21, 2016 (as amended, restated, supplemented, or otherwise modified from time to time, the “Credit
Agreement”; capitalized terms used herein without definitions shall have the meanings ascribed thereto in the Credit
Agreement), by and among the Borrower, the Persons party thereto from time to time as Guarantors, the financial institutions party
thereto from time to time as Lenders (the “Lenders”), and SunTrust Bank, as the Administrative Agent (together
with its successors in such capacity the “Administrative Agent”), that, with respect to the existing outstanding
[Base Rate / Eurodollar] Loan under the [Revolving Loan Commitment/DDTL Commitment] in the original principal amount of
$[__________],


 


(a)          such
[Base Rate / Eurodollar] Loan shall be converted or continued as follows:


 


(i)          $[__________]
of such amount shall be converted to a Base Rate Loan, effective [__________, ____ ];


 


(ii)         $[__________]
of such amount shall be [converted to /continued as] a Eurodollar Loan with a Eurodollar Loan Period of [____] months, effective
[____________, ____];


 


(iii)        $[__________]
of such amount shall be repaid on [____________, ____];


 


(b)          [after
giving effect to the foregoing, the number of Eurodollar Loans outstanding will not exceed eight (8); and]


 


(c)          [no
Event of Default exists at the time of the requested continuation of or conversion to a Eurodollar Loan specified above] [an Event
of Default exists at the time of the requested continuation of or conversion to a Eurodollar Loan specified above, but the Required
Lenders have not elected that continuations of or conversions to Eurodollar Loans be prohibited]. 1


 


The foregoing instructions
shall be irrevocable. This Notice of Conversion/Continuation shall be a Loan Document.


 





 



1 To be included in the case of a requested continuation
of or conversion to Eurodollar Loans.


 




    	 	1	 



     


    

 


IN WITNESS WHEREOF, the
undersigned in its capacity as the Borrower, acting through an Authorized Signatory, has caused this Notice of Conversion/Continuation
to executed, as of the date first written above.


 


	 	VULCAN MATERIALS COMPANY, a New Jersey corporation
	 	 	 
	 	By:	 
	 	Name:
	 	Title:


 


VULCAN – NOTICE OF CONVERSION/CONTINUATION


 




     


     


    

 


EXHIBIT E


 


FORM OF REQUEST FOR LOAN


 


I, [____________________________],
the [___________________] and an Authorized Signatory of VULCAN MATERIALS COMPANY, a New Jersey corporation (the “Borrower”),
do hereby certify on behalf of the Borrower, and not in my individual capacity, pursuant to the provisions of that certain Credit
Agreement dated as of December 21, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”; capitalized terms used herein without definitions shall have the meanings ascribed thereto in the Credit
Agreement), by and among the Borrower, the Persons party thereto from time to time as Guarantors, the financial institutions party
thereto from time to time as Lenders (the “Lenders”), and SunTrust Bank, as the Administrative Agent (together
with its successors and assigns in such capacity, the “Administrative Agent”), that:


 


1.           The
Borrower hereby requests [a Eurodollar Loan in the amount of $[____________] with a Eurodollar Loan Period of [____] months][a
Base Rate Loan in the amount of $______________], under the [Revolving Loan Commitment] [DDTL Commitment] [in the
form of a Swing Loan]. The proceeds of the Loan should be wired on behalf of the Borrower as set forth below. The foregoing
instructions shall be irrevocable.


 


Bank Name:


Bank Address:


ABA#:


Account Name:


Account Number:


Federal Tax I.D. #:


 


2.           After
giving effect to the foregoing, the number of Eurodollar Loans outstanding will not exceed eight (8).


 


3.           All
of the representations and warranties of the Credit Parties under the Credit Agreement and the other Loan Documents, which, pursuant
to Section 5.2 of the Credit Agreement, are made at and as of the time of the Loans requested hereby, are true and correct in all
material respects (provided that if any representation or warranty already includes a materiality or material adverse effect qualifier,
such representation or warranty shall be true and correct in all respects and except (i) in the case of any such representation
or warranty that expressly relates to a prior date, in which case such representation or warranty shall be so true and correct
on and as of such prior date and (ii) the representations and warranties set forth in Section 5.1(j) and Section 5.1(k) of the
Credit Agreement), both before and after giving effect to such Loan, and all applicable conditions set forth in Section 4.1 (solely
in the case of the initial borrowing on the Closing Date) and Section 4.2 of the Credit Agreement have been satisfied or waived.


 


4.           On
the date of the Loan requested hereby and after giving effect thereto, no Default or Event of Default exists.


 


[Remainder of Page Intentionally Left Blank]


 




    	 	2	 



     


    

 


IN WITNESS WHEREOF, the
undersigned in its capacity as the Borrower acting through an Authorized Signatory, has caused this Request for Loan to be executed
on the ________ day of _________________, 20___.


 


	 	VULCAN MATERIALS COMPANY, a New Jersey corporation
	 	 	 
	 	By:	 
	 	Name:
	 	Title:


 


VULCAN – REQUEST FOR LOAN


 




     


     


    

 


EXHIBIT F


 


FORM OF REQUEST FOR ISSUANCE OF LETTER
OF CREDIT


 


I, [_____________________],
the [___________________] and an Authorized Signatory of VULCAN MATERIALS COMPANY, a New Jersey corporation (the “Borrower”),
do hereby certify on behalf of the Borrower in the capacity of the Borrower, and not in my individual capacity, pursuant to the
provisions of that certain Credit Agreement dated as of December 21, 2016 (as amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”; capitalized terms used herein without definitions shall have the
meanings ascribed thereto in the Credit Agreement), by and among the Borrower, the Persons party thereto from time to time as Guarantors,
the financial institutions party thereto from time to time as Lenders (the “Lenders”), and SunTrust Bank, as
the Administrative Agent (together with its successors and assigns in such capacity, the “Administrative Agent”),
that:


 


1.          The
Borrower hereby requests that [_____________], as Issuing Bank (the “Specified Issuing Bank”), issue a [Commercial][Standby]
Letter of Credit under the Letter of Credit Commitment in the amount of $[_______________] to be issued on [_________________,
20__] (the “Effective Date”) for the account of [the Borrower] [__________, a subsidiary of the Borrower]and
for the benefit of [________________] (the “Beneficiary”) to expire on [___________________].


 


2.          Attached
hereto as Exhibit A is a duly completed Letter of Credit application.


 


3.          As
of the Effective Date, the issuance of the Letter of Credit requested hereby will not result in (a) the Aggregate Revolving Credit
Obligations exceeding the Revolving Loan Commitments or (b) the outstanding amount of the Letter of Credit Obligations with respect
to Letters of Credit issued by the Specified Issuing Bank to exceed the Specified Issuing Bank’s Letter of Credit Issuance
Limit.


 


4.          All
of the representations and warranties of the Credit Parties under the Credit Agreement and the other Loan Documents, which, pursuant
to Section 5.2 of the Credit Agreement, are made at and as of the time of the issuance of the Letter of Credit requested hereby,
are true and correct in all material respects (provided that if any representation or warranty already includes a materiality or
material adverse effect qualifier, such representation or warranty shall be true and correct in all respects and except (i) in
the case of any such representation or warranty that expressly relates to a prior date, in which case such representation or warranty
shall be so true and correct on and as of such prior date and (ii) the representations and warranties set forth in Section 5.1(j)
of the Credit Agreement and the second sentence of Section 5.1(k) of the Credit Agreement), both before and after giving effect
to the issuance of such Letter of Credit, and all applicable conditions set forth in Section 4.1 (solely in the case of the any
Letter of Credit issued on the Closing Date) and Section 4.2 of the Credit Agreement have been satisfied or waived.


 


5.          On
the date of the issuance of the Letter of Credit requested hereby and after giving effect thereto, no Default or Event of Default
exists.


 


[Remainder of Page Intentionally Left Blank]


 




     


     


    

 


IN WITNESS WHEREOF, the
undersigned in its capacity as the Borrower acting through an Authorized Signatory, has caused this Request for Issuance of Letter
of Credit to be executed on the ________ day of _________________, 20___.


 


	 	VULCAN MATERIALS COMPANY, a New Jersey corporation
	 	 	 
	 	By:	 
	 	Name:
	 	Title:


 


[VULCAN – REQUEST FOR ISSUANCE OF LETTER OF CREDIT]


 




     


     


    

 


Exhibit A


 


[Attach Letter of Credit Application]


 




     


     


    

  


EXHIBIT G



FORM OF REVOLVING LOAN NOTE


 





	US $	 	 	[DATE]







 


FOR VALUE RECEIVED,
the undersigned, VULCAN MATERIALS COMPANY, a New Jersey corporation (the “Borrower”), hereby promises to pay
to the order of [                        ]
(hereinafter, together with its successors and permitted assigns, the “Lender”), at the office of the Administrative
Agent (as defined below), in immediately available funds, the principal sum of [                           
and            ]/100 DOLLARS ($[                        ])
of United States funds, or, if less, the aggregate unpaid principal amount of the Revolving Loans advanced by the Lender to the
Borrower under the Credit Agreement, plus interest as hereinafter provided, in accordance with the terms of the Credit Agreement.


 


This Revolving Loan
Note (this “Note”) is one of the Revolving Loan Notes referred to in that certain Credit Agreement dated as
of December 21, 2016 (as amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”),
by and among the Borrower, the Persons party thereto from time to time as Guarantors, the financial institutions party thereto
from time to time as Lenders, and SunTrust Bank, as the Administrative Agent (together with its successors and assigns in such
capacity, the “Administrative Agent”). All capitalized terms used herein shall have the meanings ascribed to
such terms in the Credit Agreement except to the extent such capitalized terms are otherwise defined herein.


 


All Revolving Loans
and accrued interest shall be due and payable in full on the Revolving Loan Maturity Date, or such earlier date as the Revolving
Loans shall be due and payable in full, in cash, whether by acceleration or otherwise, pursuant to the Credit Agreement. The principal
hereunder is also subject to repayment and prepayment from time to time as provided in the Credit Agreement.


 


The Borrower shall
be entitled to borrow, repay and re-borrow funds hereunder pursuant to the terms and conditions of the Credit Agreement. Prepayment
of the principal amount of any Revolving Loan may be made only as provided in the Credit Agreement.


 


The Borrower hereby
promises to pay interest on the unpaid principal amount hereof at the rates and at such times and in such manner as are provided
under the Credit Agreement.


 


In no event shall the
amount of interest and other charges for the use of money payable hereunder exceed the maximum amounts permissible under any law
that a court of competent jurisdiction shall, in a final determination, deem applicable. Anything contained herein to the contrary
notwithstanding, if the amount of such interest and other charges for the use of money payable hereunder or manner of payment exceeds
the maximum amount allowable under Applicable Law, then, ipso facto as of the Closing Date, the Borrower is and shall be liable
only for the payment of such maximum as allowed by law, and payment received from the Borrower in excess of such legal maximum,
whenever received, shall be applied first, to reduce the principal balance of the Loans in accordance with the terms of the Credit
Agreement and second, returned to the Borrower, to the extent of such excess. It is the express intent hereof that the Borrower
not pay, and the Lender not receive, directly or indirectly, in any manner whatsoever, interest in excess of that which may legally
be paid by the Borrower under Applicable Law.


 




    	 	1	 



     


    

 


All parties now or
hereafter liable with respect to this Note, whether the Borrower, any Guarantor, endorser or any other Person, hereby waive any
presentment for payment, demand, notice of non-payment or dishonor, protest and notice of protest whatsoever.


 


No failure or delay
on the part of the Lender or any holder hereof in exercising any right under this Note shall operate as a waiver of such right.
Any waiver or indulgence granted by the Lenders, the Required Lenders, or the Required Revolving Lenders, as applicable, shall
not constitute a modification of the Credit Agreement, except to the extent expressly provided in such waiver or indulgence, or
constitute a course of dealing by the Lenders at variance with the terms of the Credit Agreement such as to require further notice
by the Lenders of the Lenders’ intent to require strict adherence to the terms of the Credit Agreement in the future. Any
such actions shall not in any way affect the ability of the Lenders, in their discretion, to exercise any rights available to them
under the Credit Agreement or under any other agreement, whether or not the Lenders are party, relating to the Borrower.


 


Time is of the essence
in this Note.


 


This Note evidences
the Lender’s portion of the Revolving Loans under, and is entitled to the benefits and subject to the terms of, the Credit
Agreement and the other Loan Documents, which contains provisions with respect to the acceleration of the maturity of this Note
upon the happening of certain stated events, and provisions for prepayment and repayment.


 


This Note may not be
transferred or assigned or pledged except pursuant to and in accordance with the provisions of Section 10.5 of the Credit Agreement.


 


This Note is subject
to the terms and provisions of the Credit Agreement, which are hereby incorporated herein by reference.


 


This Note shall be
construed in accordance with and governed by the laws of the State of New York, without regard to the conflict of laws principles
thereof.


 


[Remainder of this page intentionally left
blank.]


 




    	 	2	 



     


    

  


IN WITNESS WHEREOF,
the undersigned has caused this Note to be executed as of the day and year first above written.


 


	 	VULCAN MATERIALS COMPANY, a New Jersey corporation
	 	 
	 	By:	 
	 		Name:	 
	 		 Title:	 


 


VULCAN – REVOLVING LOAN NOTE


 




     


     


    

 


EXHIBIT H


 


FORM OF
DDTL Loan NOTE





	US $	 	 	[DATE]







 


FOR VALUE RECEIVED,
the undersigned, VULCAN MATERIALS COMPANY, a New Jersey corporation (the “Borrower”), hereby promises to pay
to the order of [                        ]
(hereinafter, together with its successors and permitted assigns, the “Lender”), at the office of the Administrative
Agent (as defined below), in immediately available funds, the principal sum of [                                
and        ]/100 DOLLARS ($[                        ])
of United States funds, or, if less, the aggregate unpaid principal amount of the DDTL Loans advanced by the Lender to the Borrower
under the Credit Agreement, plus interest as hereinafter provided, in accordance with the terms of the Credit Agreement.


 


This DDTL Loan Note
(this “Note”) is one of the DDTL Loan Notes referred to in that certain Credit Agreement dated as of December
21, 2016 (as amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”),
by and among the Borrower, the Persons party thereto from time to time as Guarantors, the financial institutions party thereto
from time to time as Lenders, and SunTrust Bank, as the Administrative Agent (together with its successors and assigns in such
capacity, the “Administrative Agent”). All capitalized terms used herein shall have the meanings ascribed to
such terms in the Credit Agreement except to the extent such capitalized terms are otherwise defined herein.


 


All DDTL Loans and
accrued interest shall be due and payable in full on the DDTL Maturity Date, or such earlier date as the DDTL Loans shall be due
and payable in full, in cash, whether by acceleration or otherwise, pursuant to the Credit Agreement. The principal hereunder is
also subject to repayment and prepayment from time to time as provided in the Credit Agreement. Prepayment of the principal amount
of any DDTL Loan may be made only as provided in the Credit Agreement. The Borrower hereby promises to pay interest on the unpaid
principal amount hereof at the rates and at such times and in such manner as are provided under the Credit Agreement.


 


In no event shall the
amount of interest and other charges for the use of money payable hereunder exceed the maximum amounts permissible under any law
that a court of competent jurisdiction shall, in a final determination, deem applicable. Anything contained herein to the contrary
notwithstanding, if the amount of such interest and other charges for the use of money payable hereunder or manner of payment exceeds
the maximum amount allowable under Applicable Law, then, ipso facto as of the Closing Date, the Borrower is and shall be liable
only for the payment of such maximum as allowed by law, and payment received from the Borrower in excess of such legal maximum,
whenever received, shall be applied first, to reduce the principal balance of the Loans in accordance with the terms of the Credit
Agreement and second, returned to the Borrower, to the extent of such excess. It is the express intent hereof that the Borrower
not pay, and the Lender not receive, directly or indirectly, in any manner whatsoever, interest in excess of that which may legally
be paid by the Borrower under Applicable Law.


 




     


     


    

 


All parties now or
hereafter liable with respect to this Note, whether the Borrower, any Guarantor, endorser or any other Person, hereby waive any
presentment for payment, demand, notice of non-payment or dishonor, protest and notice of protest whatsoever.


 


No failure or delay
on the part of the Lender or any holder hereof in exercising any right under this Note shall operate as a waiver of such right.
Any waiver or indulgence granted by the Lenders, the Required Lenders, or the Required DDTL Lenders, as applicable, shall not constitute
a modification of the Credit Agreement, except to the extent expressly provided in such waiver or indulgence, or constitute a course
of dealing by the Lenders at variance with the terms of the Credit Agreement such as to require further notice by the Lenders of
the Lenders’ intent to require strict adherence to the terms of the Credit Agreement in the future. Any such actions shall
not in any way affect the ability of the Lenders, in their discretion, to exercise any rights available to them under the Credit
Agreement or under any other agreement, whether or not the Lenders are party, relating to the Borrower.


 


Time is of the essence
in this Note.


 


This Note evidences
the Lender’s portion of the DDTL Loans under, and is entitled to the benefits and subject to the terms of, the Credit Agreement
and the other Loan Documents, which contains provisions with respect to the acceleration of the maturity of this Note upon the
happening of certain stated events, and provisions for prepayment and repayment.


 


This Note may not be
transferred or assigned or pledged except pursuant to and in accordance with the provisions of Section 10.5 of the Credit Agreement.


 


This Note is subject
to the terms and provisions of the Credit Agreement, which are hereby incorporated herein by reference.


 


This Note shall be
construed in accordance with and governed by the laws of the State of New York, without regard to the conflict of laws principles
thereof.


 




     


     


    

IN WITNESS WHEREOF,
the undersigned has caused this Note to be executed as of the day and year first above written.


 


	 	VULCAN MATERIALS COMPANY, a New Jersey corporation
	 	 
	 	By:	 
	 		Name:	 
	 		Title:	 


 




     


     


    

 


LOANS AND
PAYMENTS WITH RESPECT THERETO


 


	
         

        Date
	 	Amount of 

DDTL Loan 

Made	 	End of

 Interest 

Period	 	Amount of 

Principal or 

Interest

 Paid This 

Date	 	Outstanding 

Principal 

Balance This 

Date	 	Notation 

Made By
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 


 




     


     


    

 


EXHIBIT I


 


FORM OF JOINDER SUPPLEMENT


 


Reference is made to
that certain Credit Agreement dated as of December 21, 2016 (as amended, restated, supplemented, or otherwise modified from time
to time, the “Credit Agreement”; capitalized terms used herein without definitions shall have the meanings ascribed
thereto in the Credit Agreement), by and among VULCAN MATERIALS COMPANY, a New Jersey corporation (the “Borrower”),
the Persons party thereto from time to time as Guarantors, the financial institutions party thereto from time to time as lenders
(the “Lenders”), and SunTrust Bank, as the Administrative Agent (together with its successors and assigns in
such capacity, the “Administrative Agent”).


 


WHEREAS, pursuant
to Section 6.10 of the Credit Agreement, certain Subsidiaries of the Borrower are required to join the Credit Agreement as Guarantors
and become Credit Parties, by executing and delivering in favor of the Administrative Agent, for the benefit of the Lender Group,
this Joinder Supplement. Upon the execution and delivery of this Joinder Supplement by the undersigned (the “New Credit
Party”), such New Credit Party shall become a Guarantor and a Credit Party under the Credit Agreement and the other Loan
Documents with the same force and effect as if originally named as a Guarantor and a Credit Party, therein, as applicable.


 


NOW, THEREFORE,
for and in consideration of the above premises and the mutual covenants and agreements contained herein and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:


 


1.          In
accordance with Section 6.10 of the Credit Agreement, the New Credit Party, by its signature below, becomes a Guarantor and a Credit
Party under the Credit Agreement with the same force and effect as if originally named therein as a Guarantor and as a Credit Party
and the New Credit Party (a) hereby agrees to all of the terms and provisions of the Credit Agreement applicable to it as a Guarantor
and as a Credit Party thereunder and (b) represents and warrants that the representations and warranties made by it as a Guarantor
and a Credit Party thereunder are true and correct in all material respects (except that such materiality qualifier shall not be
applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof and
except for the representations and warranties set forth in Section 5.1(j) and Section 5.1(k) of the Credit Agreement) with respect
to such New Credit Party and its Subsidiaries, as applicable, on and as of the date hereof. In furtherance of the foregoing,
subject to the limitations set forth in Section 3.1(g) of the Credit Agreement, the New Credit Party hereby jointly and severally
with the other Guarantors guarantees to the Administrative Agent, for the benefit of the Lender Group, the full and prompt payment
of the Obligations, including, without limitation, (i) any interest thereon (including, without limitation, interest, as provided
in the Credit Agreement, accruing after the filing of a petition initiating any insolvency proceedings, whether or not such interest
accrues or is recoverable against any other Credit Party after the filing of such petition for purposes of the Bankruptcy Code
or is an allowed claim in such proceeding), plus (ii) out-of-pocket expenses and reasonable attorney’s fees if the obligations
represented by the Credit Agreement are collected by law, through an attorney-at-law, or under advice therefrom, in each case with
respect to clause (ii) to the extent required by Section 10.2 of the Credit Agreement. Each reference to a Guarantor and Credit
Party as applicable in the Credit Agreement and each other Loan Document shall be deemed to include the New Credit Party. The terms
and provisions of the Credit Agreement are hereby incorporated herein by reference.


 




     


     


    

 


2.          The
New Credit Party acknowledges and confirms that it has received a copy of the Credit Agreement, and the other Loan Documents and,
in each case, all schedules and exhibits thereto.


 


3.          The
New Credit Party agrees that at any time and from time to time, upon the written request of the Administrative Agent, it will execute
and deliver such further documents and do such further acts and things as the Administrative Agent may reasonably request in order
to effect the purposes of this Joinder Supplement.


 


4.          The
New Credit Party represents and warrants to the Administrative Agent (for itself and on behalf of the Lender Group) that this Joinder
Supplement has been duly executed and delivered by the New Credit Party and is a legal, valid and binding obligation of the New
Credit Party, enforceable against the New Credit Party in accordance with its terms, except to the extent that the enforceability
thereof may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws affecting the enforcement of creditors’
rights generally or by general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity
or at law).


 


5.          This
Joinder Supplement may be executed in any number of counterparts and by different parties on separate counterparts, each of which,
when executed and delivered shall be deemed to be an original, but all such separate counterparts shall, when taken together constitute
but one and the same agreement. In proving this Joinder Supplement in any judicial proceedings, it shall not be necessary to produce
or account for more than one such counterpart signed by the party against whom such enforcement is sought. Any signatures delivered
by a party by facsimile transmission or by e-mail transmission of an Adobe file format document (also known as PDF file) shall
be deemed an original signature hereto.


 


6.          Except
as expressly supplemented hereby, the Credit Agreement shall remain in full force and effect.


 


7.          The
provisions of this Joinder Supplement shall be construed and interpreted, and all rights and obligations of the parties hereto
determined, in accordance with the laws of the State of New York, without regard to conflicts of law principles that cause the
application of the laws of any other jurisdiction.


 


8.          This
Joinder Supplement shall be considered a Loan Document for all purposes.


 


[Remainder of this Page Intentionally Left
Blank]


 




     


     


    

 


IN WITNESS WHEREOF,
the New Credit Party has caused this Joinder Supplement to be executed as of the day and year first above written.


 





	 	NEW CREDIT PARTY:
	 	 
	 	 	 
	 	By:	
	 	 	Name:	 
	 	 	Title:	 




 







     


     


    

 


	ACKNOWLEDGED AND AGREED	 
	ON [                              , 20     ]	 
	 	 
	SUNTRUST BANK, as Administrative Agent	 
	 	 
	By:	 	 
	Name:	 
	Title:	 


 




     


     


    

  


ANNEX I


 


PRICING GRID


 


	Level	 	Ratings	 	Applicable Margin
 for Eurodollar
 Loans/Letter of
 Credit fees	 	 	Applicable
 Margin for Base

Rate Loans	 	 	Commitment
 Fee/Ticking Fee	 
	I	 	≤ Ba1/BB+/BB+	 	 	1.75	%	 	 	0.75	%	 	 	0.25	%
	II	 	Baa3/BBB-/BBB-	 	 	1.50	%	 	 	0.50	%	 	 	0.20	%
	III	 	Baa2/BBB/BBB	 	 	1.25	%	 	 	0.25	%	 	 	0.15	%
	IV	 	Baa1/BBB+/BBB+	 	 	1.125	%	 	 	0.125	%	 	 	0.125	%
	V	 	≥ A3/A-/A-	 	 	1.00	%	 	 	0.00	%	 	 	0.10	%



  




     


     


    

  


Schedule 1.1(a)


 


Commitment Percentages


 


	Lender	 	Revolving
                                         Loan
 Commitment
	 	 	Revolving
                                         
 Commitment
                                         
 Percentage
	 	 	DDTL
 Commitment
	 	 	DDTL
                                         
 Commitment
                                         
 Percentage
	 	 	Total
                                         
 Commitment
	 	 	Commitment
                                         
 Percentage
	 
	SunTrust Bank	 	$	120,000,000.00	 	 	 	16	%	 	$	40,000,000.00	 	 	 	16	%	 	$	160,000,000.00	 	 	 	16	%
	Wells Fargo Bank, National Association	 	$	120,000,000.00	 	 	 	16	%	 	$	40,000,000.00	 	 	 	16	%	 	$	160,000,000.00	 	 	 	16	%
	U.S. Bank National Association	 	$	120,000,000.00	 	 	 	16	%	 	$	40,000,000.00	 	 	 	16	%	 	$	160,000,000.00	 	 	 	16	%
	Bank of America, N.A.	 	$	105,000,000.00	 	 	 	14	%	 	$	35,000,000.00	 	 	 	14	%	 	$	140,000,000.00	 	 	 	14	%
	Regions Bank	 	$	105,000,000.00	 	 	 	14	%	 	$	35,000,000.00	 	 	 	14	%	 	$	140,000,000.00	 	 	 	14	%
	The Northern Trust Company	 	$	56,250,000.00	 	 	 	7.5	%	 	$	18,750,000.00	 	 	 	7.5	%	 	$	75,000,000.00	 	 	 	7.5	%
	Goldman Sachs Bank USA	 	$	56,250,000.00	 	 	 	7.5	%	 	$	18,750,000.00	 	 	 	7.5	%	 	$	75,000,000.00	 	 	 	7.5	%
	First Tennessee Bank National Association	 	$	37,500,000.00	 	 	 	5	%	 	$	12,500,000.00	 	 	 	5	%	 	$	50,000,000.00	 	 	 	5	%
	Synovus Bank	 	$	18,750,000.00	 	 	 	2.5	%	 	$	6,250,000.00	 	 	 	2.5	%	 	$	25,000,000.00	 	 	 	2.5	%
	Atlantic Capital Bank	 	$	11,250,000.00	 	 	 	1.5	%	 	$	3,750,000.00	 	 	 	1.5	%	 	$	15,000,000.00	 	 	 	1.5	%
	Totals	 	$	750,000,000.00	 	 	 	100.000	%	 	$	250,000,000.00	 	 	 	100.000	%	 	$	100,000,000.00	 	 	 	100.000	%



 




     1


     


    

 


Schedule 1.1(b)


 


Permitted Liens 


 


VULCAN MATERIALS COMPANY


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	Vulcan Materials Company	 	
        Applied Industrial

        Technologies-Dixie, Inc.
	 	
        UCC

         

        Continuation

        4/7/08

         

        Continuation

        4/10/13
	 	04/14/03	 	21538926	 	New Jersey	 	
        For equipment located at Raburn Quarry,

        Kelly’s Creek Road, Raburn, Georgia.

        Purchase
        Money Security Interest in and to all Consignee’s now held or hereafter

        acquired equipment consigned or shipped

        by Consignee by or on behalf of Consignor

        pursuant to the certain Consignment

        Agreement between the parties dated

        11/15/02 and as amended from time to

        time, whether manufactured by
        Consignor or others and under any product name, including all additions and accessions thereto and substitutions therefor and

        products thereof.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	Carter Machinery Co., Inc.	 	UCC	 	11/15/12	 	26282916	 	New Jersey	 	
        Equipment

        1-CAT 259B3

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	
        Caterpillar Financial

        Services Corporation
	 	UCC	 	11/21/12	 	50384372	 	New Jersey	 	
        Equipment

        One Caterpillar TL1055C 

        Telehandler S/N: KDE00345

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	Peterson Tractor Co.	 	UCC	 	12/04/12	 	50392751	 	New Jersey	 	
        Equipment

        New JLG 400S Manlift S/N 

        0300166308 Caterpillar TL

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	CIT Finance LLC	 	UCC	 	04/22/13	 	26358086	 	New Jersey	 	
        Equipment

        Plus all other types of office equipment

        and products, computers, security
        systems and other items of equipment now and hereafter leased to and or financed for Debtor/Lessee by Secured Party/Lessor



  






     2


     


    

  


	Vulcan Materials Company	 	
        Great America Financial

        Services Corporation
	 	UCC	 	
        07/31/14

        10/30/14
	 	
        26582627

         

        2708646 (Used to Add Collateral)
	 	New Jersey	 	
        PNL702BC Sharp 70” Digital Aquos

        Board S/N 30100263

        D5133NT Sharp Digital Power Filter –

        120 Volt, 15 Amps, 2 Outlet

        S/N 21210468

        PNZB01 Sharp Input/Output Expansion

        Board for Digital White Board

        S/N 45003854

        PNSR760M Sharp Rolling Flat Panel Cart

        for Digital White Board S/N 21210515

        PNSL01SPC Sharp Touch Display Link

        Software Aquos Board

        S/N AE2L-HABXEB-XXXX

        PNTPC2W7A Sharp Digital White Board

        PC Windows 7 S/N 58-11901

        PNL802B Sharp 80” Digital Aquos Board

        S/N 44002053

        D5133NT Sharp Digital Power Filter –

        129 Volt, 15 Amps, 2 Outlet

        S/N 21207340

        PNZ801 Sharp Input/Output Expansion

        Board for Digital White Board

        S/N 45003024

        PNTPC17W7 Sharp Digital White Board

        PC Windows 7 Intel Core 17 2.5 GHz

        Duel Processor S/N 59-11148

        PNSS01 Sharp Digital Signage Software

        S/N SS01-11100649

        XTMU Chief XTMU Display Mount

        S/N Vulcan

        PNSL01SPC Sharp Touch Display Link

        Software Aquos Board



  






     3


     


    

  


	Vulcan Materials Company	 	
        EverBank Commercial

        Finance, Inc.
	 	UCC	 	02/11/15	 	51081140	 	 	 	
        All items of personal property leased

        pursuant to that certain Lease Agreement

        dated 12/12/14 by and between EverBank

        Commercial Finance, Inc. as lessor, rentor

        or owner and Vulcan Materials Company

        as lessee or customer, as more specifically

        described below and/or in attachments

        hereto, together with all related software

        (embedded therein or otherwise), all

        additions, attachments, accessories and

        accessions thereto, whether or not

        furnished by the supplier thereof; and any

        and all substitutions, replacements or

        exchanges for any such item of equipment

        and any and all insurance and/or other proceeds
        thereof.

        1 Konica Minolta Bizhub C754E

        2 Konica Minolta Bizhub C554E
        1 Konica Minolta Bizhub 554E 1 Konica Minolta Bizhub 454E

        1 Konica Minolta Bizhub C364E

        2 Konica Minolta Bizhub 364E

        3 Konica Minolta Bizhub C284E



   






     4


     


    




 


	Vulcan Materials Company	 	
        Thompson Tractor Co.,

        Inc.
	 	UCC	 	08/06/14	 	50915662	 	New Jersey	 	
        Caterpillar P33000 SN T39A10075

        Proceeds of the collateral are also covered

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	
        Thompson Tractor Co.,

        Inc.
	 	UCC	 	10/29/14	 	50991150	 	New Jersey	 	
        Caterpillar D6T SN ZJB01412

        Proceeds of the collateral are also covered

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	
        Applied Industrial

        Technologies, Inc.
	 	UCC	 	02/05/14	 	50739947	 	New Jersey	 	
        Purchase Money Security Interest in and
        to

        all Consignee’s now held or hereafter

        acquired equipment consigned or shipped

        to Consignee by or on behalf of Consignor

        pursuant to that certain Consignment

        Agreement between the parties. And as

        amended from time to time, whether

        manufactured by Consignor or others and

        under any product name, including all

        additions and accessions thereto and

        substitutions therefor and products thereof.

        Equipment will be located at address

        referenced above.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	Wagner Equipment Company	 	UCC	 	02/16/15	 	51085142	 	New Jersey	 	Caterpillar D9T Serial Number 0REX00319 and additions, replacements, attachments, substitutions and accessions thereto now owned or hereafter acquired and proceeds thereof. This is an information filing only. The foregoing item is owned by Wagner Equipment Co and rented to Vulcan Materials Company
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	Wagner Equipment Company	 	UCC	 	06/01/15	 	51193683	 	New Jersey	 	
        Caterpillar D9T Serial Number 0TWG00363

        and additions, replacements, attachments,
        substitutions and accessions thereto now owned or hereafter acquired and proceeds thereof. This is an information filing only.
        The foregoing item is owned by Wagner Equipment Co and rented to Vulcan Materials Company

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	Thompson Tractor Co., Inc.	 	UCC	 	06/05/15	 	51230962	 	New Jersey	 	
        Caterpillar D6T SN ZJB01475

        Proceeds of the collateral are also covered



  






     5


     


    




 


	Vulcan Materials Company	 	Wagner Equipment Company	 	UCC	 	06/13/15	 	51240325	 	New Jersey	 	Caterpillar 324EL LR Serial Number 0PNW00886 and additions, replacements, attachments, substitutions and accessions thereto now owned or hereafter acquired and proceeds thereof. This is an information filing only. The foregoing item is owned by Wagner Equipment Co and rented to Vulcan Materials Company
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	Peterson Tractor Co.	 	UCC	 	06/16/15	 	5125443	 	New Jersey	 	New Caterpillar 730C Truck SN TFF00769 with all attachments and accessories
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	Peterson Tractor Co.	 	UCC	 	08/04/15	 	51270940	 	New Jersey	 	New Caterpillar 730C Truck SN TFF00767 with all attachments and accessories
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	GreatAmerica Financial Services Corporation	 	UCC	 	
        09/11/15

         

        02/08/16 (adding collateral)
	 	51321307	 	New Jersey	 	
        Various Toshiba equipment and all products,
        proceeds and attachments. This UCC-1 is filed pursuant to Section 9-505 of the Uniform Commercial Code for informational purposes
        only. This transaction is intended by the Lessee and lessor to be a lease.

         

        Amended to add collateral 02/08/16: Various
        Francotyp Postalia mailing equipment and all products, proceeds and attachments

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	Thompson Tractor Co., Inc.	 	UCC	 	09/28/15	 	51344085	 	New Jersey	 	
        Caterpillar D6T SN ZJB01322

        Proceeds of the collateral are also covered

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	Konica Minolta Premier Finance	 	UCC	 	10/26/15	 	51383350	 	New Jersey	 	The collateral described as: (1) Konica Minolta Bizhub Press 1250P, S/N: A4EX011040054; (1) Konica Minolta Bizhub Press C1100, S/N: ASAW011000442, including all components, additions, upgrades, attachments, accessions, substitutions, replacements and proceeds of such collateral.  This filing is for precautionary purposes in connection with an equipment transaction and is not to be construed as indicating that the transaction is other than a true lease.



 






     6


     


    




 


	Vulcan Materials Company	 	RDO Equipment Co.	 	UCC	 	11/21/15	 	51423243	 	New Jersey	 	2015 John Deere 210K S/N 178210KXKFE892208, 2014 Woods/Gannon/Central Fab Ganedge S/N 172872, including all accessions thereto and all spare parts and special tools for such machinery and equipment
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Materials Company	 	Wagner Equipment Company	 	UCC	 	06/24/16	 	51744696	 	New Jersey	 	Caterpillar 324EL LR Serial Number 0PNW0C639 and additions, replacements, attachments, substitutions and accessions thereto now owned or hereafter acquired and proceeds thereof.  This is an information filing only.  The foregoing item is owned by Wagner Equipment Co and rented to Vulcan Materials Company 


  


ARUNDEL COMPANY, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 


AZUSA ROCK, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 


BRISA ACQUISITIONS, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 




     7


     


    

 


CALMAT CO.


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date 

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	CalMat Co.	 	Mt. Adams Holdings, LLC	 	UCC	 	09/21/15	 	20154188461	 	Delaware	 	Any interest owned by Debtor owned or acquired in certain land in Sandoval County, New Mexico described in a lease executed July 19, 2015 between Debtor and Secured Party, any interest owned or acquired in personal property in connection with such lease and any proceeds and products of the foregoing.


 


FLORIDA ROCK INDUSTRIES, INC.


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 


FULTON CONCRETE COMPANY, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 


HARPER BROTHERS, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 


LEGACY VULCAN, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 




     8


     


    

 


MARYLAND STONE, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 


S & G CONCRETE COMPANY, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 


TCS MATERIALS, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 


TRIANGLE ROCK PRODUCTS, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 


VIRGINIA CONCRETE COMPANY, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 


VULCAN AGGREGATES COMPANY, LLC


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	None	 	 	 	 	 	 	 	 	 	 	 	 


 




     9


     


    

 


VULCAN CONSTRUCTION MATERIALS, LLC 


(formerly Vulcan Construction Materials,
LP) 


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Construction Materials, LP	 	Deere Credit, Inc.	 	
        UCC

        Continuation

        05/09/13
	 	08/04/08	 	20082656088	 	Delaware	 	
        Equipment

        John Deere 850DL Excavator with 90”

        Bucket

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Construction Materials, LP	 	
        Caterpillar Financial

        Services Corporation
	 	UCC	 	02/08/13	 	20130527573	 	Delaware	 	
        Equipment

        One Caterpillar 140H Motor Grader

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Construction Materials, LP	 	
        Brownsville Navigation

        District of Cameron

        County, Texas
	 	
        UCC

        Continuation

        03/06/12
	 	03/08/07	 	070007886006	 	Texas	 	
        All furniture, fixtures, equipment,

        inventory and other property of Debtor

        now or hereafter located on Debtor’s
        lease

        premises at the Port of Brownsville,

        Cameron County, Texas such Lease being

        dated 12/18/2003 and covering 5.36 acres

        of land owned by The Brownsville

        Navigation District of Cameron County,

        Texas

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Construction Materials, LP	 	
        Plum Creek Timberlands, L.P.

        L.P.
	 	UCC	 	12/31/12	 	20130000704	 	Delaware	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Construction Materials, LP	 	Highland Resources, Inc.	 	UCC	 	12/31/12	 	20130000738	 	Delaware	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Construction Materials, LP	 	Highland Resources, Inc.	 	UCC	 	10/02/13	 	20133987477	 	Delaware	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Construction Materials, LP	 	
        PC Natural Resources,

        LLC
	 	UCC	 	10/02/13	 	20133987949	 	Delaware	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof




  




     10


     


    

 





	Vulcan Construction Materials, LP	 	Highland Resources, Inc.	 	UCC	 	10/15/13	 	20134046745	 	Delaware	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Construction Materials, LP	 	
        PC Natural Resources,

        LLC
	 	UCC	 	10/15/13	 	20134046695	 	Delaware	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Construction Materials, LP	 	GreatAmerica Financial Services Corporation	 	UCC	 	02/06/16	 	20160930642	 	Delaware	 	Various Francotyp Postalia Mailing Equipment and all products proceeds and attachments


  


VULCAN LANDS, INC.


 


	Debtor Name	 	Secured Party	 	Type of Search	 	
        Date 

        Filed
	 	File Number	 	Jurisdiction	 	Collateral
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Lands, Inc.	 	Highland Resources, Inc.	 	UCC	 	01/02/13	 	26299945	 	New Jersey	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Lands, Inc.	 	Plum Creek Timberlands, L.P.	 	UCC	 	01/02/13	 	26300016	 	New Jersey	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Lands, Inc.	 	PC Natural Resources LLC	 	UCC	 	10/03/13	 	26450186	 	New Jersey	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Lands, Inc.	 	Highland Resources, Inc.	 	UCC	 	10/03/13	 	26450193	 	New Jersey	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Lands, Inc.	 	Highland Resources, Inc.	 	UCC	 	10/16/13	 	26453149	 	New Jersey	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Vulcan Lands, Inc.	 	PC Natural Resources, LLC	 	UCC	 	10/16/13	 	26453156	 	New Jersey	 	
        Limited term royalty interest in aggregates,

        including rights appurtenant or incident

        thereto and proceeds thereof



 




     11


     


    

 


Schedule 1.1(c) 


 


Existing Letters of Credit


 


	# of LCs	 	LC Issuers	 	LC Beneficiaries	 	LCs Total $	 
	 	 	 	 	 	 	 	 	 
	28	 	Several banks	 	Various	 	$	39.5 million	 



 




     12


     


    

 


Schedule 5.1(c)


 


Subsidiaries and
Guarantors


 


Schedule 5.1(c)-1: Subsidiaries


 


	Subsidiary	 	
        Credit Party or Credit Party Subsidiary

        % Ownership
	 	
        Jurisdiction of 

        incorporation

	 	 	 	 	 
	1.     Borrower	 	 	 	 
	 	 	 	 	 
	Vulcan Materials Company	 	Publicly Traded	 	NJ
	 	 	 	 	 
	2.     Subsidiaries	 	 	 	 
	 	 	 	 	 
	Allied Crushed Stone Company1	 	100% Vulcan Lands, Inc.	 	AL
	 	 	 	 	 
	Arundel Company, LLC	 	100% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Atlantic Granite Company	 	66-2/3% Legacy Vulcan, LLC; 33-1/3% Lott Family	 	SC
	 	 	 	 	 
	Azusa Rock, LLC	 	100% CalMat Co.	 	DE
	 	 	 	 	 
	Black Point Aggregates Incorporated	 	100% VGCM, LLC	 	Nova Scotia
	 	 	 	 	 
	Brisa Acquisitions, LLC2	 	100% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Brooksville Quarry, LLC	 	50% Florida Rock Industries, Inc.; 50% Florida Rock Properties	 	FL
	 	 	 	 	 
	Calizas lndustriales del Carmen, S.A. de C.V.	 	99.999% VGCM, LLC; 0.001% Vulcan Gulf Coast Materials, LLC	 	Mexico
	 	 	 	 	 
	CalMat Co.	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	CalMat Leasing Company, LLC	 	100% CalMat Co.	 	DE
	 	 	 	 	 
	Chesapeake Marine Partnership	 	56% Salisbury Towing, LLC; 44% TCS Materials, LLC	 	MD
	 	 	 	 	 
	D C Materials, Inc.	 	100% Florida Rock Industries, Inc.	 	DC
	 	 	 	 	 
	Enterprise Logistics, LLC	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Florida Cement, LLC	 	100% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Florida Rock Industries, Inc.	 	100% Vulcan Materials Company	 	FL
	 	 	 	 	 
	Freeport Aggregates Limited	 	100% FRI Bahamas Ltd.	 	Bahamas
	 	 	 	 	 
	FRI Bahamas Ltd.	 	100% Florida Rock Industries, Inc.	 	Bahamas
	 	 	 	 	 
	Fulton Concrete Company, LLC	 	95.3% Vulcan Aggregates Company, LLC; 4.7% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Harper Brothers, LLC	 	100% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Heritage Logistics, LLC	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Legacy Vulcan, LLC	 	100% Vulcan Materials Company	 	DE
	 	 	 	 	 
	Maryland Rock Industries, LLC	 	100% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Maryland Stone, LLC	 	100% Arundel Company, LLC	 	DE
	 	 	 	 	 
	Mountain West Logistics, LLC	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	North Field Extension, L.L.C.	 	50% Legacy Vulcan, LLC; 50% C.P. Chemicals, Inc. and Phibo Animal Health Corporation	 	NJ
	 	 	 	 	 
	Rancho Piedra Caliza, S.A. de C.V.	 	99% Calizas lndustriales del Carmen; 1% Servicios Integrates, Gestoria	 	Mexico



 





 



1
VMC plans to dissolve entity 12/31/2016.


2
VMC plans to dissolve entity 12/31/2016.






 






     13


     


    




 


	
        Rapica Servicios Tecnicos Y Administrativos, S.A. de
C.V.
	 	99.998% Calizas lndustriales del Carmen; 0.002% Servicios Integrates, Gestoria	 	Mexico
	 	 	 	 	 
	RECO Transportation, LLC	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	S & G Concrete Company, LLC	 	100% Arundel Company, LLC	 	DE
	 	 	 	 	 
	S & G Prestress Company, LLC	 	100% Arundel Company, LLC	 	DE
	 	 	 	 	 
	Salisbury Towing, LLC	 	100% Arundel Company, LLC	 	DE
	 	 	 	 	 
	Servicios Integrales, Gestoria Y Administracion, S.A. de C.V.	 	99.999% VGCM, LLC; 0.001% Vulcan Gulf Coast Materials, LLC	 	Mexico
	 	 	 	 	 
	
        Soportes Tecnicos Y Administrativos, S.A. de C.V.
	 	99.998% Calizas Industriales del Carmen; 0.002% Servicios Integrates, Gestoria	 	Mexico
	 	 	 	 	 
	Southeast Division Logistics, LLC	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Southern Gulf Coast Division Logistics, LLC	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Southwest Gulf Railroad Company	 	95% Legacy Vulcan, LLC; 5% Subsidiary Directors	 	TX
	 	 	 	 	 
	Statewide Transport, LLC	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	TCS Materials, LLC	 	90% Arundel Company, LLC; 10% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Triangle Rock Products, LLC	 	100% CalMat Co.	 	DE
	 	 	 	 	 
	VCA Shipping Services, LLC	 	100% VGCM, LLC	 	DE
	 	 	 	 	 
	VGCM, LLC	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Virginia Concrete Company, LLC	 	100% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Vulcan Aggregates Company, LLC	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Vulcan Asphalt, LLC	 	100% CalMat Co.	 	DE
	 	 	 	 	 
	Vulcan Concrete, LLC	 	100% CalMat Co.	 	DE
	 	 	 	 	 
	Vulcan Construction Materials, LLC	 	95.3% Vulcan Aggregates Company, LLC; 4.7% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Vulcan Gulf Coast Materials, LLC	 	100% VGCM, LLC	 	NC
	 	 	 	 	 
	Vulcan Lands, Inc.	 	100% Legacy Vulcan, LLC	 	NJ
	 	 	 	 	 
	Vulica Shipping Company, Limited	 	99.998% VGCM, LLC; 0.002% Legacy Vulcan, LLC	 	Bahamas


  




     14


     


    

 


Schedule 5.1(c)-2: Guarantors


 


	Guarantor	 	
        Credit Party or Credit Party 

        Subsidiary % Ownership
	 	
        Jurisdiction of 

        Incorporation

	 	 	 	 	 
	Arundel Company, LLC	 	100% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Azusa Rock, LLC	 	100% CalMat Co.	 	DE
	 	 	 	 	 
	Brisa Acquisitions, LLC3	 	100% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	CalMat Co.	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Florida Rock Industries, Inc.	 	100% Vulcan Materials Company	 	FL
	 	 	 	 	 
	Fulton Concrete Company, LLC	 	95.3% Vulcan Aggregates Company, LLC; 4.7% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Harper Brothers, LLC	 	100% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Legacy Vulcan, LLC	 	100% by Vulcan Materials Company	 	DE
	 	 	 	 	 
	Maryland Stone, LLC	 	100% Arundel Company, LLC	 	DE
	 	 	 	 	 
	S & G Concrete Company, LLC	 	100% Arundel Company, LLC	 	DE
	 	 	 	 	 
	TCS Materials, LLC	 	90% Arundel Company, LLC; 10% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Triangle Rock Products, LLC	 	100% CalMat Co.	 	DE
	 	 	 	 	 
	Virginia Concrete Company, LLC	 	100% Florida Rock Industries, Inc.	 	DE
	 	 	 	 	 
	Vulcan Aggregates Company, LLC	 	100% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Vulcan Construction Materials, LLC	 	95.3% Vulcan Aggregates Company, LLC; 4.7% Legacy Vulcan, LLC	 	DE
	 	 	 	 	 
	Vulcan Lands, Inc.	 	100% Legacy Vulcan, LLC	 	NJ


 


 



3
VMC plans to dissolve entity 12/31/2016.


 




     15


     


    

 


Schedule 5.1(l)


 


ERISA


Multiemplover Pension Plans


 


Automobile Mechanics Local 701 Pension Fund


Central Pension Fund of the IUOE and Participating Employers


Central States Southeast and Southwest Areas Pension Plan


IAM National Pension Fund


IBEW District No. 9 Pension Plan


Laborers Trust Funds for Northern California


LIUNA National Industrial Pension Fund


Local 786 Building Material Pension Trust


Midwest Operating Engineers Pension Trust Fund


Operating Engineers Trust Funds — Local 3


Operating Engineers Trust Funds — Local 12


Suburban Teamsters of Northern Illinois Pension Plan


Teamsters Local No. 142 Pension Trust Fund


Western Conference of Teamsters Pension Trust Fund


 


Qualified Retirement Plans


 


Retirement Income Plan for Salaried Employees of Vulcan Materials
Company (Salaried Employees Hired Prior to 07-15-2007; Benefit accruals curtailed as of 12-31-2013)


 


Pension Plan for Hourly Employees of the Construction Materials
Division (Hourly Employees Hired Prior to 07-15-2007)


 


Retirement Income Plan for Hourly Employees of the Chemicals
Division (Union Employees of the Former Chemicals Division and hourly employees of the Arundel Pension Plan)


 


Vulcan 401(k) Plan (Merger 1-1-2014 of the Vulcan Materials
Company 401(k) and Profit Sharing Retirement Plan Employees and the Thrift Plan for Salaried Employees of Vulcan Materials Company)


 


Construction Materials Divisions Hourly Employees Savings Plan
(Non-union Hourly Employees Hired Prior to 07-15-2007)


 


Non-Qualified Deferred Compensation and Retirement Plans


 


Executive Deferred Compensation Plan —
Non-qualified deferred compensation plan for a select group of management employees.


 


Unfunded Supplemental Benefit Plan — Non-qualified Restoration
Plan that provides defined contribution and defined benefit accruals that are otherwise not allowed under the qualified plans due
to IRC pay and benefit limitations.


 


Supplemental Executive Retirement Agreement — Non-qualified
Top Hat Plan that provides supplemental defined benefit accruals for the CEO.


 


Retiree Welfare Plans


 


Background: I he Health and Welfare Benefit Plan of Vulcan
Materials Company includes all active and inactive health and welfare programs including active benefit plans and inactive (retiree)
benefit plans. The inactive plans provide for the extension of coverage from early retirement until Medicare eligibility. Included
in retiree health coverage based on the eligibility as described below is medical, dental and behavioral health coverage. There
is no retiree life insurance coverage except for the salaried group as shown.


 




     16


     


    

 


Active Health and Welfare Plans Include:


 


Medical


Prescription Drugs


Behavioral Health


Employee Assistance Program


Dental


Vision Care


Health Care Flexible Spending Account


Dependent Care Flexible Spending Account


Health Savings Account (new for 2017)


Short Term Disability


Long Term Disability


Survivor Benefits (Life and ADD&D Insurance


Tobacco Cessation Program


 


Inactive Salaried Health Benefits Plan (grandfathered group)
- Covers retired salaried employees that were age 55 or older with age + service equal to or greater than 70 on January I, 2001


 


Inactive Salaried Health Benefits Plan (non-grandfathered group)
— Covers retired salaried employees not grandfathered under the salaried plan above. Employees that were age 50 or over or
had 20 or more years of service as of July 15, 2007 are eligible at age 55 if age + service equal to or greater than 70. Otherwise,
eligible at age 62 if age + service equal to or greater than 70.


 


Inactive Hourly Health Benefits Plan (grandfathered group) —
Covers retired hourly employees that were age 50 or over as of January I, 1998 and in the Southeast, Mideast or Chattanooga Divisions.
Employees in the grandfathered group are eligible at age 55 if age + service is equal to or greater than 70.


 


Inactive Hourly Health Benefits Plan (non-grandfathered group)
- Covers retired hourly employees that were not grandfathered under the hourly plan above age 62 or older with age + service equal
to or greater than 70.


 


Inactive Group Life Insurance — Retired salaried employees
receive fully paid up $5,000 term life policy.


 




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Schedule 5.1(t)


 


Environmental Matters


 


NONE


 




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Schedule 7.2


 


Permitted Investments


 


	Form	 	Lender	 	Borrower	 	Amount	 
	 	 	 	 	 	 	 	 	 
	Promissory Note4	 	Legacy Vulcan Corp.	 	Black Point Aggregates Incorporated5	 	$	5,000,000	 



 


 



4
Loans can be made under the Black Point Promissory Note for amounts up to a maximum of $5mm USD


5
Black Point Aggregates Incorporated is an Excluded Subsidiary.


 




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