Exhibit 10.2


 


GUARANTY AND SECURITY AGREEMENT


 


dated as of July 31, 2013


 


made by


 


BIOSCRIP, INC. 

as Borrower


 


and


 


The other
Grantors From Time to Time Party Hereto


 


in favor of


 


SUNTRUST BANK

as Administrative Agent


 






    	 



    	 



    

 


Table
of Contents




 





	 	 	 	Page
	 	 	 	 
	ARTICLE I	Definitions	1
	 	 	 	 
	 	Section 1.1	Definitions	1
	 	 	 	 
	 	Section 1.2	Other Definitional Provisions; References	5
	 	 	 	 
	ARTICLE II	Guarantee	5
	 	 	 	 
	 	Section 2.1	Guarantee	5
	 	 	 	 
	 	Section 2.2	Payments	7
	 	 	 	 
	ARTICLE III	Grant of Security Interest	7
	 	 	 	 
	 	Section 3.1	Grant of Security Interest	7
	 	 	 	 
	 	Section 3.2	Transfer of Pledged Securities	9
	 	 	 	 
	 	Section 3.3	Grantors Remain Liable under Accounts, Chattel Paper and Payment Intangibles	9
	 	 	 	 
	ARTICLE IV	Acknowledgments, Waivers and Consents	9
	 	 	 	 
	 	Section 4.1	Acknowledgments, Waivers and Consents	9
	 	 	 	 
	 	Section 4.2	No Subrogation, Contribution or Reimbursement	12
	 	 	 	 
	ARTICLE V	Representations and Warranties	12
	 	 	 	 
	 	Section 5.1	Confirmation of Representations in Credit Agreement	13
	 	 	 	 
	 	Section 5.2	Benefit to the Guarantors	13
	 	 	 	 
	 	Section 5.3	Pledged Securities; Promissory Notes	13
	 	 	 	 
	 	Section 5.4	First Priority Liens	13
	 	 	 	 
	 	Section 5.5	Legal Name, Organizational Status, Chief Executive Office	13
	 	 	 	 
	 	Section 5.6	Prior Names, Prior Chief Executive Offices	13
	 	 	 	 
	 	Section 5.7	Chattel Paper	14
	 	 	 	 
	 	Section 5.8	Truth of Information; Accounts	14
	 	 	 	 
	 	Section 5.9	Governmental Obligors	14
	 	 	 	 
	 	Section 5.10	Copyrights, Patents and Trademarks	14
	 	 	 	 
	ARTICLE VI	Covenants	14
	 	 	 	 
	 	Section 6.1	Covenants in Credit Agreement	14
	 	 	 	 
	 	Section 6.2	Maintenance of Perfected Security Interest; Further Documentation	15
	 	 	 	 
	 	Section 6.3	Maintenance of Records	15
	 	 	 	 
	 	Section 6.4	Right of Inspection	15
	 	 	 	 
	 	Section 6.5	Further Identification of Collateral	16
	 	 	 	 
	 	Section 6.6	Changes in Names, Locations	16
	 	 	 	 
	 	Section 6.7	Pledged Securities	16



 






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(continued)




 


	 	 	 	Page
	 	 	 	 
	 	Section 6.8	Limitations on Modifications, Waivers, Extensions of Agreements Giving Rise to Accounts	17
	 	 	 	 
	 	Section 6.9	Instruments and Tangible Chattel Paper	18
	 	 	 	 
	 	Section 6.10	Copyrights, Patents and Trademarks	18
	 	 	 	 
	 	Section 6.11	Commercial Tort Claims	19
	 	 	 	 
	ARTICLE VII	Remedial Provisions	19
	 	 	 	 
	 	Section 7.1	Pledged Securities	19
	 	 	 	 
	 	Section 7.2	Collections on Accounts	20
	 	 	 	 
	 	Section 7.3	Proceeds	21
	 	 	 	 
	 	Section 7.4	UCC and Other Remedies	21
	 	 	 	 
	 	Section 7.5	Private Sales of Pledged Securities	22
	 	 	 	 
	 	Section 7.6	Deficiency	23
	 	 	 	 
	 	Section 7.7	Non-Judicial Enforcement	23
	 	 	 	 
	ARTICLE VIII	The Administrative Agent	23
	 	 	 	 
	 	Section 8.1	The Administrative Agent’s Appointment as Attorney-in-Fact	23
	 	 	 	 
	 	Section 8.2	Duty of the Administrative Agent	24
	 	 	 	 
	 	Section 8.3	Filing of Financing Statements	25
	 	 	 	 
	 	Section 8.4	Authority of the Administrative Agent	25
	 	 	 	 
	ARTICLE IX	Subordination of Indebtedness	25
	 	 	 	 
	 	Section 9.1	Subordination of All Guarantor Claims	25
	 	 	 	 
	 	Section 9.2	Claims in Bankruptcy	26
	 	 	 	 
	 	Section 9.3	Payments Held for Benefit of Administrative Agent	26
	 	 	 	 
	 	Section 9.4	Liens Subordinate	26
	 	 	 	 
	 	Section 9.5	Notation of Records	26
	 	 	 	 
	ARTICLE X	Miscellaneous	27
	 	 	 	 
	 	Section 10.1	Waiver	27
	 	 	 	 
	 	Section 10.2	Notices	27
	 	 	 	 
	 	Section 10.3	Payment of Expenses, Indemnities	27
	 	 	 	 
	 	Section 10.4	Amendments in Writing	28
	 	 	 	 
	 	Section 10.5	Successors and Assigns	28
	 	 	 	 
	 	Section 10.6	Severability	28
	 	 	 	 
	 	Section 10.7	Counterparts	28
	 	 	 	 
	 	Section 10.8	Survival	28



 






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	 	 	 	Page
	 	 	 	 
	 	Section 10.9	Captions	28
	 	 	 	 
	 	Section 10.10	No Oral Agreements	29
	 	 	 	 
	 	Section 10.11	Governing Law; Submission to Jurisdiction	29
	 	 	 	 
	 	Section 10.12	WAIVER OF JURY TRIAL	29
	 	 	 	 
	 	Section 10.13	Acknowledgments	30
	 	 	 	 
	 	Section 10.14	Additional Grantors	30
	 	 	 	 
	 	Section 10.15	Set-Off	31
	 	 	 	 
	 	Section 10.16	Releases	31
	 	 	 	 
	 	Section 10.17	Reinstatement	31
	 	 	 	 
	 	Section 10.18	Acceptance	32
	 	 	 	 
	 	Section 10.17	[Intentionally Omitted]	32
	 	 	 	 
	 	Section 10.20	Relation to Other Loan Documents	32
	 	 	 	 
	 	Section 10.21	Intercreditor Agreement	32




 






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	Schedules	 	 	 
	 	Schedule 1 	-	Notice Addresses 
	 	Schedule 2 	-	Pledged Securities; Promissory Notes
	 	Schedule 3	-	Filings and Other Actions Required to Perfect Security Interests
	 	Schedule 4	-	Legal Name, Organizational Status, Chief Executive Office
	 	Schedule 5	-	Prior Names and Prior Chief Executive Offices
	 	Schedule 6	-	Records Locations
	 	Schedule 7	-	Patents and Patent Licenses
	 	Schedule 8	-	Trademarks and Trademark Licenses
	 	Schedule 9	-	Copyrights and Copyright Licenses
	 	Schedule 10	-	Commercial Tort Claims
	 	 	 	 
	Annexes	 	 	 
	 	Annex I	-	Form of Joinder Agreement
	 	Annex II	-	Form of Intellectual Property Security Agreement
	 	Annex III	-	Form of Acknowledgment and Consent




 






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GUARANTY
AND SECURITY AGREEMENT


 


THIS GUARANTY AND
SECURITY AGREEMENT, dated as of July 31, 2013, is made by BIOSCRIP, INC., a Delaware corporation (the “Borrower”),
and certain Subsidiaries of the Borrower identified on the signature pages hereto as “Guarantors” (together with the
Borrower and any other Subsidiary of the Borrower that becomes a party hereto from time to time after the date hereof, each, a
“Grantor” and, collectively, the “Grantors”), in favor of SUNTRUST BANK, as administrative
agent (in such capacity, together with its successors and assigns, the “Administrative Agent”) for the Secured
Parties (as defined below).


 


WHEREAS, the
Borrower is entering into that certain Credit Agreement dated as of the date hereof (as amended, restated, supplemented,
or otherwise modified from time to time, the “Credit Agreement”) by and among the Borrower, the several banks
and other financial institutions and lenders from time to time party thereto (collectively, the “Lenders”),
and the Administrative Agent, providing for, among other things, revolving credit and term loan facilities subject to the terms
set forth therein; and


 


WHEREAS, it
is a condition precedent to the obligations of the Lenders, the Issuing Bank and the Administrative Agent under the Loan Documents
that the Grantors enter into this Agreement, pursuant to which, subject to the terms and conditions herein, the Grantors (other
than the Borrower) shall guaranty all Obligations of the Borrower and the Grantors (including the Borrower) shall grant Liens on
substantially all of their personal property to the Administrative Agent, on behalf of the Secured Parties, to secure the Grantors’
respective Obligations.


 


NOW, THEREFORE,
in consideration of the premises and to induce the Administrative Agent, the Lenders and the Issuing Bank to enter into the Credit
Agreement and to induce the Lenders and the Issuing Bank to make their respective extensions of credit to the Borrower thereunder,
each Grantor hereby agrees with the Administrative Agent, for the ratable benefit of the Secured Parties, as follows:


 


ARTICLE
I


 


Definitions


 


Section 1.1            
Definitions.(a)               
 Each term defined above shall have the meaning set forth above for all purposes of this Agreement. Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings assigned to such terms in the Credit Agreement,
and the terms “Account Debtor”, “Account”, “Certificated Security”, “Chattel Paper”,
“Commercial Tort Claim”, “Deposit Account”, “Document”, “Electronic Chattel Paper”,
“Equipment”, “Fixture”, “General Intangible”, “Goods”, “Instrument”,
“Inventory”, “Investment Property”, “Letter-of-Credit Right”, “Payment Intangible”,
“Proceeds”, “Securities Account”, “Security”, “Security Entitlement”, “Supporting
Obligations”, and “Tangible Chattel Paper” shall have the meanings assigned to such terms in the UCC as in effect
in the State of New York on the date hereof:


 


(b)              
The following terms shall have the following meanings:


 


“Agreement”
shall mean this Guaranty and Security Agreement, as amended, restated, supplemented or otherwise modified from time to time.


 


“Avoidance
Provisions” shall have the meaning set forth in Section 2.1(d).


 


“Bankruptcy
Code” shall have the meaning set forth in Section 2.1(c)(i).


 






    	 



    	 



    

 


“Collateral”
shall have the meaning set forth in Section 3.1.


 


“Copyright
Licenses” shall mean any and all present and future agreements with respect to which a Grantor is a party providing for
the granting of any right in or to Copyrights (whether the applicable Grantor is licensee or licensor thereunder). As of the Closing
Date, all Copyright Licenses of the Grantors are set forth on Schedule 9.


 


“Copyrights”
shall mean, collectively, with respect to each Grantor, all copyrights, whether registered or unregistered, owned by
or assigned to such Grantor and all registrations and applications for the foregoing (whether by statutory or common law, whether
established or registered in the United States, any State thereof, or any other country or any political subdivision thereof and,
in each case, whether owned by or licensed to such Grantor), and all goodwill associated therewith, now existing or hereafter adopted
or acquired, together with any and all (i) rights and privileges arising under applicable law with respect to such Grantor’s
use of any copyrights, (ii) reissues, continuations, extensions and renewals thereof and amendments thereto, (iii) income,
fees, royalties, damages and payments now and hereafter due and/or payable thereunder and with respect thereto, including damages,
claims and payments for past, present or future infringements thereof, (iv) rights corresponding thereto throughout the world
and (v) rights to sue for past, present or future infringements thereof. As of the Closing Date, all Copyrights of the Grantors
are set forth on Schedule 9.


 


“Excluded
Capital Stock” shall mean (i) any Capital Stock or Stock Equivalent of any Subsidiary of any Grantor that is not a wholly-owned
Subsidiary of such Grantor and of any joint venture, in each case, to the extent a pledge thereof is not permitted by the terms
of such Person’s organizational documents or joint venture documents and (ii) any Capital Stock of any Foreign Subsidiary
owned by any Grantor in excess of 65% of the issued and outstanding voting Capital Stock of such Foreign Subsidiary; provided,
that “Excluded Capital Stock” shall not include any proceeds, products, substitutions or replacements of Excluded Capital
Stock (unless such proceeds, products, substitutions or replacements would otherwise constitute Excluded Capital Stock).


 


“Excluded
Property” shall mean (i) any fee-owned Real Estate with a fair market value of less than $5,000,000 (as of the date of
the acquisition of such Real Estate) and all Real Estate constituting leasehold interests; (ii) any motor vehicles and other assets
subject to certificates of title to the extent that a security interest therein cannot be perfected by the filing of a UCC financing
statement; (iii) any Letter-of-Credit Rights (except to the extent constituting a support obligation for other Collateral as to
which the perfection of security interests in such other Collateral and the support obligation is accomplished solely by the filing
of a UCC financing statement) and Commercial Tort Claims, in each case, with a value of less than $1,000,000; (iv) Excluded Capital
Stock; (v) any license, Instrument, agreement or other General Intangible (other than Proceeds and Accounts thereof) to the extent,
and so long as, the pledge thereof as Collateral would violate the terms thereof or result in a breach by any Grantor of any agreement
related thereto, but only to the extent, and only for so long as, such prohibition is not terminated or rendered unenforceable
or otherwise deemed ineffective by the UCC, the Bankruptcy Code or any other Requirement of Law and such prohibition is not prohibited
under Section 7.8 of the Credit Agreement (provided, that such assets shall cease to be Excluded Property at such time as
such prohibition or restriction is terminated, rendered unenforceable, or deemed ineffective or otherwise ceases to be in effect
and, upon such prohibition or restriction being terminated, rendered unenforceable, deemed ineffective or otherwise ceasing to
be in effect, the Lien granted herein shall be deemed to have automatically attached to such assets); (vi) Excluded Accounts; (vii)
any United States intent-to-use trademark applications and any other assets to the extent the pledge thereof is prohibited by any
Requirement of Law (other than Proceeds and Accounts thereof), but only to the extent, and for so long as, such prohibition is
not terminated or rendered unenforceable or otherwise deemed ineffective by the UCC, the Bankruptcy Code or any other Requirement
of Law (provided, that such assets shall cease to be Excluded Property at such time as such prohibition is terminated, rendered
unenforceable, or deemed ineffective or otherwise ceases to be in effect and, upon such prohibition being terminated, rendered
unenforceable, deemed ineffective or otherwise ceasing to be in effect, the Lien granted herein shall be deemed to have automatically
attached to such assets); (viii) those assets of the Grantors as to which the Administrative Agent shall reasonably determine that
the costs of obtaining or perfecting such security interest are excessive in relation to the value of the security to the Secured
Parties to be afforded thereby; and (ix) such other assets of the Grantors as may be reasonably agreed by the Administrative Agent;
provided, that “Excluded Property” shall not include any proceeds, products, substitutions or replacements of
Excluded Property (unless such proceeds, products, substitutions or replacements would otherwise constitute Excluded Property).


 






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“Guaranteed
Obligations” shall have the meaning set forth in Section 2.1(a).


 


“Guarantors”
shall mean, collectively, each Grantor other than the Borrower.


 


“Issuers”
shall mean, collectively, each issuer of a Pledged Security.


 


“Note”
shall mean an instrument within the description of “promissory note” as defined in Article 9 of the UCC.


 


“Patent Licenses”
shall mean any and all present and future agreements with respect to which a Grantor is a party providing for the granting of any
right in or to Patents (whether the applicable Grantor is licensee or licensor thereunder). As of the Closing Date, all Patent
Licenses of the Grantors are set forth on Schedule 7.


 


“Patents”
shall mean, collectively, with respect to each Grantor, all letters patent owned by or issued or assigned to, and all patent applications
and registrations made by, such Grantor (whether established or registered or recorded in the United States, any State thereof
or any other country or any political subdivision thereof and, in each case, whether owned by or licensed to such Grantor), and
all goodwill associated therewith, now existing or hereafter adopted or acquired, together with any and all (i) rights and privileges
arising under applicable law with respect to such Grantor’s use of any patents, (ii) inventions and improvements described
and claimed therein, (iii) reissues, divisions, continuations, renewals, extensions and continuations-in-part thereof and amendments
thereto, and rights to obtain any of the foregoing, (iv) income, fees, royalties, damages, claims and payments now or hereafter
due and/or payable thereunder and with respect thereto including damages and payments for past, present or future infringements
thereof, (v) rights corresponding thereto throughout the world and (vi) rights to sue for past, present or future infringements
thereof. As of the Closing Date, all Patents of the Grantors are set forth on Schedule 7.


 


“Pledged Certificated
Stock” shall mean all Certificated Securities and any other Capital Stock or Stock Equivalent of any Person, other than
Excluded Property, evidenced by a certificate, instrument or other similar document, in each case, now owned or at any time hereafter
acquired by any Grantor, and any dividend or distribution of cash, instruments or other property made on, in respect of or in exchange
for the foregoing from time to time. As of the Closing Date, all Pledged Certificated Stock of the Grantors is set forth on Schedule 2.


 


“Pledged Securities”
shall mean, collectively, all Pledged Certificated Stock and all Pledged Uncertificated Stock.


 


“Pledged Uncertificated
Stock” shall mean any Capital Stock or Stock Equivalent of any Person, other than Pledged Certificated Stock and Excluded
Property, in each case now owned or at any time hereafter acquired by any Grantor, including all right, title and interest of any
Grantor as a limited or general partner in any partnership or as a member of any limited liability company not constituting Pledged
Certificated Stock, all right, title and interest of any Grantor in, to and under any organizational document of any partnership
or limited liability company to which it is a party, and any dividend or distribution of cash, instruments, or other property made
on, in respect of, or in exchange for the foregoing from time to time. As of the Closing Date, all Pledged Uncertificated Stock
of the Grantors is set forth on Schedule 2.


 






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“Qualified
ECP Guarantor” shall mean, in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10,000,000
at the time the relevant Guarantee or grant of the relevant security interest becomes effective with respect to such Swap Obligation
or such other person as constitutes an “eligible contract participant” as defined in the Commodity Exchange Act or
any regulations promulgated thereunder and can cause another person to qualified 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.


 


“Secured Obligations”
shall have the meaning set forth in Section 3.1.


 


“Secured Parties”
shall mean, collectively, the Administrative Agent, the Lenders, the Issuing Bank, the Swingline Lender, the Lender-Related Hedge
Providers and the Bank Product Providers.


 


“Securities
Act” shall mean the Securities Act of 1933, as amended and in effect from time to time.


 


“Stock Equivalents”
shall mean all Securities convertible into or exchangeable for Capital Stock or any other Stock Equivalent and all warrants, options
or other rights to purchase, subscribe for or otherwise acquire any Capital Stock or any other Stock Equivalent, whether or not
presently convertible, exchangeable or exercisable.


 


“Swap Obligations”
shall mean any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap”
within the meaning of section 1a(47) of the Commodity Exchange Act.


 


“Termination
Date” shall have the meaning set forth in Section 10.16(a).


 


“Trademark
Licenses” shall mean any and all present and future agreements with respect to which a Grantor is a party providing for
the granting of any right in or to Trademarks (whether the applicable Grantor is licensee or licensor thereunder). As of the Closing
Date, all Trademark Licenses of the Grantors are set forth on Schedule 8.


 


“Trademarks”
shall mean, collectively, with respect to each Grantor, all trademarks, service marks, slogans, logos, certification
marks, trade dress, uniform resource locations (URL’s), domain names, corporate names, trade names and other source or business
identifiers, whether registered or unregistered, owned by or assigned to such Grantor and all registrations and applications for
the foregoing (whether by statutory or common law, whether established or registered in the United States, any State thereof, or
any other country or any political subdivision thereof and, in each case, whether owned by or licensed to such Grantor), and all
goodwill associated therewith, now existing or hereafter adopted or acquired, together with any and all (i) rights and privileges
arising under applicable law with respect to such Grantor’s use of any trademarks, (ii) reissues, continuations, extensions
and renewals thereof and amendments thereto, (iii) income, fees, royalties, damages and payments now and hereafter due and/or
payable thereunder and with respect thereto, including damages, claims and payments for past, present or future infringements thereof,
(iv) rights corresponding thereto throughout the world and (v) rights to sue for past, present or future infringements
thereof. As of the Closing Date, all Trademarks of the Grantors are set forth on Schedule 8.


 






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“UCC”
shall mean the Uniform Commercial Code as in effect from time to time in the State of New York.


 


Section 1.2            
Other Definitional Provisions; References. The definition of terms herein shall apply equally to the singular
and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine,
feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed
to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same
meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition of or reference to
any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document
as from time to time amended, restated, amended and restated, supplemented or otherwise modified (subject to any restrictions on
such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include
such Person’s successors and assigns, (c) the words “herein”, “hereof” and “hereunder”,
and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision
hereof, (d) all references herein to Articles, Sections, Exhibits, Schedules and Annexes shall, unless otherwise stated, be construed
to refer to Articles and Sections of, and Exhibits, Schedules and Annexes to, this Agreement and (e) the words “asset”
and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights. Where the context requires, terms relating to
the Collateral or any part thereof, when used in relation to a Grantor, shall refer to such Grantor’s Collateral or the relevant
part thereof. The words “knowledge of any Grantor” or any like term shall mean the actual knowledge of a Responsible
Officer of any Grantor.


 


ARTICLE
II


 


Guarantee


 


Section 2.1            
Guarantee.


 


(a)               
Each Guarantor unconditionally guarantees, jointly with the other Guarantors and severally, as a primary obligor and not
merely as a surety, (i) the due and punctual payment of all Obligations of the Borrower and the other Loan Parties including
(A) the principal of and premium, if any, and interest (including interest accruing during the pendency of any bankruptcy,
insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans,
when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (B) each payment
required to be made by the Borrower under the Credit Agreement in respect of any Letter of Credit, when and as due, including payments
in respect of reimbursement or disbursements, interest thereon and obligations to provide cash collateral, and (C) all other
monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or
otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar
proceeding, regardless of whether allowed or allowable in such proceeding), of the Loan Parties to the Administrative Agent, the
Lenders, the Swingline Lender and the Issuing Bank under the Credit Agreement and the other Loan Documents; (ii) the due and
punctual performance of all covenants, agreements, obligations and liabilities of the Loan Parties under or pursuant to the Credit
Agreement and the other Loan Documents; (iii) the due and punctual payment of all Bank Product Obligations; and (iv) the due
and punctual payment and performance of all Hedging Obligations owed by any Loan Party to any Lender-Related Hedge Provider (other
than any Excluded Swap Obligations with respect to such Guarantor) (all the monetary and other obligations referred to in the preceding
clauses (i) through (iv) being collectively called the “Guaranteed Obligations”). Each Guarantor
further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice to or further assent
from such Guarantor, and that such Guarantor will remain bound by its guarantee notwithstanding any extension or renewal of any
Guaranteed Obligations made in accordance with the Credit Agreement.


 






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(b)              
Each Guarantor further agrees that its guarantee constitutes a joint and several obligation and a guarantee of payment when
due and not of collection, and waives any right to require that any resort be had by the Administrative Agent or any Secured Party
to any of the security held for payment of the Guaranteed Obligations or to any balance of any deposit account or credit on the
books of the Administrative Agent or any Secured Party in favor of the Borrower or any other Guarantor.


 


(c)               
It is the intent of each Guarantor and the Administrative Agent that the maximum obligations of the Guarantors hereunder
shall be, but not in excess of:


 


(i)                
in a case or proceeding commenced by or against any Guarantor under the provisions of Title 11 of the United States Code,
11 U.S.C. §§101 et seq., as amended and in effect from time to time (the “Bankruptcy Code”),
on or within one year from the date on which any of the Guaranteed Obligations are incurred, the maximum amount which would not
otherwise cause the Guaranteed Obligations to be avoidable or unenforceable against such Guarantor under (A) Section 548 of the
Bankruptcy Code or (B) any state fraudulent transfer or fraudulent conveyance act or statute applied in any such case or proceeding
by virtue of Section 544 of the Bankruptcy Code; or


 


(ii)              
in a case or proceeding commenced by or against any Guarantor under the Bankruptcy Code subsequent to one year from the
date on which any of the Guaranteed Obligations are incurred, the maximum amount which would not otherwise cause the Guaranteed
Obligations to be avoidable or unenforceable against such Guarantor under any state fraudulent transfer or fraudulent conveyance
act or statute applied in any such case or proceeding by virtue of Section 544 of the Bankruptcy Code; or


 


(iii)            
in a case or proceeding commenced by or against any Guarantor under any law, statute or regulation other than the Bankruptcy
Code (including, without limitation, any other bankruptcy, reorganization, arrangement, moratorium, readjustment of debt, dissolution,
liquidation or similar debtor relief laws), the maximum amount which would not otherwise cause the Guaranteed Obligations to be
avoidable or unenforceable against such Guarantor under such law, statute or regulation, including, without limitation, any state
fraudulent transfer or fraudulent conveyance act or statute applied in any such case or proceeding.


 


(d)              
The substantive laws under which the possible avoidance or unenforceability of the Guaranteed Obligations as may be determined
in any case or proceeding shall hereinafter be referred to as the “Avoidance Provisions”. To the extent set
forth in subsections (c)(i), (ii) and (iii) of this Section, but only to the extent that the Guaranteed Obligations would otherwise
be subject to avoidance or found unenforceable under the Avoidance Provisions, if any Guarantor is not deemed to have received
valuable consideration, fair value or reasonably equivalent value for the Guaranteed Obligations, or if the Guaranteed Obligations
would render such Guarantor insolvent, or leave such Guarantor with an unreasonably small capital to conduct its business, or cause
such Guarantor to have incurred debts (or to have intended to have incurred debts) beyond its ability to pay such debts as they
mature, in each case as of the time any of the Guaranteed Obligations are deemed to have been incurred under the Avoidance Provisions
and after giving effect to the contribution rights set forth in Section 2.1(g) hereof and any other indemnifications payments
due to such Guarantor by any other Guarantor, the maximum Guaranteed Obligations for which such Guarantor shall be liable hereunder
shall be reduced to that amount which, after giving effect thereto, would not cause the Guaranteed Obligations, as so reduced,
to be subject to avoidance or unenforceability under the Avoidance Provisions (such maximum amount, the “Allocable Amount”).


 






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(e)               
This Section is intended solely to preserve the rights of the Administrative Agent and the Secured Parties hereunder to
the maximum extent that would not cause the Guaranteed Obligations of such Guarantor to be subject to avoidance or unenforceability
under the Avoidance Provisions, and neither the Grantors nor any other Person shall have any right or claim under this Section
as against the Administrative Agent or any Secured Party that would not otherwise be available to such Person under the Avoidance
Provisions.


 


(f)               
Each Guarantor agrees that if the maturity of any of the Guaranteed Obligations is accelerated by bankruptcy or otherwise,
such maturity shall also be deemed accelerated for the purpose of this guarantee without demand or notice to such Guarantor. The
guarantee contained in this Article shall remain in full force and effect until the earlier of (i) the Termination Date and (ii)
in respect of any Guarantor, the release of such Guarantor from this Agreement in accordance with the provisions of Section
10.16(b) hereof.


 


(g)               To the extent that any Guarantor shall make a payment under this guarantee of all or any of the Guaranteed Obligations (a
“Guarantor Payment”) which, taking into account all other Guarantor Payments then previously or concurrently
made by such Guarantor, exceeds the amount which such Guarantor would otherwise have paid if each Guarantor had paid the aggregate
Guaranteed Obligations satisfied by such Guarantor Payment in the same proportion that such Guarantor’s Allocable Amount
(in effect immediately prior to such Guarantor Payment) bore to the aggregate Allocable Amounts of all of the Guarantors in effect
immediately prior to the making of such Guarantor Payment, then, following payment in full of the Guaranteed Obligations (other
than Hedging Obligations owed by any Loan Party to any Lender-Related Hedge Provider, Bank Product Obligations and indemnities
and other contingent obligations not then due and payable and as to which no claim has been made), such Guarantor shall be entitled
to receive contribution and indemnification payments from, and be reimbursed by, each of the other Guarantors for the amount of
such excess, pro rata based upon their respective Allocable Amounts in effect immediately prior to such Guarantor Payment. This
Section 2.1(g) is intended only to define the relative rights of Guarantors and nothing set forth in this Section 2.1(g)
is intended to or shall impair the obligations of the Guarantors, jointly and severally, to pay any amounts as and when the same
shall become due and payable in accordance with the terms of this Agreement.


 


Section 2.2            
Payments. Each Guarantor hereby agrees and guarantees that payments hereunder will be paid to the Administrative
Agent without set-off or counterclaim in Dollars at the office of the Administrative Agent specified pursuant to the Credit Agreement.


 


ARTICLE
III


 


Grant of Security Interest


 


Section 3.1            
Grant of Security Interest. Each Grantor hereby pledges and grants to the Administrative Agent, for the ratable
benefit of the Secured Parties, a security interest in and lien on all right, title and interest of such Grantor in all of the
following property, wherever located and whether now owned or at any time hereafter acquired by such Grantor or in which such Grantor
now has or at any time in the future may acquire any right, title or interest and whether now existing or hereafter coming into
existence (collectively, the “Collateral”), as collateral security for the prompt and complete payment and performance
when due (whether at the stated maturity, by acceleration or otherwise) of the Obligations, other than any Excluded Swap Obligation
with respect to such Grantor (collectively, the “Secured Obligations”):


 






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(a)               
all Accounts, including, without limitation, all Accounts owing by any Governmental Authority (including, without limitation,
any and all accounts arising or reimbursable under Medicare, Medicaid or any other Governmental Payor Arrangement), and Chattel
Paper;


 


(b)              
all Copyrights and Copyright Licenses;


 


(c)               
all Commercial Tort Claims including, without limitation, those described on Schedule 10 hereto;


 


(d)              
all contracts together with all contract rights arising thereunder;


 


(e)               
all money, cash, cash equivalents, Deposit Accounts, Securities Accounts, commodities accounts and lockboxes and all money,
cash, Securities and other Investment Property deposited therein;


 


(f)               
all Documents;


 


(g)               
all General Intangibles;


 


(h)              
all Goods (including, without limitation, all Inventory, all Equipment and all Fixtures);


 


(i)                
all Instruments;


 


(j)                
all Investment Property;


 


(k)              
all Letter-of-Credit Rights;


 


(l)                
all Notes (including, without limitation, all intercompany Notes) and all other intercompany obligations between the Loan
Parties;


 


(m)            
all Patents and Patent Licenses;


 


(n)              
all Pledged Securities;


 


(o)              
all Trademarks and Trademark Licenses;


 


(p)              
all books and records, Supporting Obligations and related letters of credit or other claims and causes of action, in each
case to the extent pertaining to the Collateral; and


 


(q)              
to the extent not otherwise included, substitutions, replacements, accessions, products and other Proceeds (whether tangible
or intangible and including, without limitation, insurance proceeds, licenses, royalties, income, payments, claims, damages and
proceeds of suit) of any or all of the foregoing and all collateral security, guarantees and other Supporting Obligations given
with respect to any of the foregoing;


 


provided that,
notwithstanding the foregoing, no Lien or security interest is hereby granted on, and the Collateral shall not include, any Excluded
Property, and, to the extent that any Collateral later becomes Excluded Property, the Lien granted hereunder will automatically
be deemed to have been released; provided, further, that if and when any property shall cease to be Excluded Property,
a Lien on and security interest in such property shall automatically be deemed granted therein.


 






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Section 3.2            
Transfer of Pledged Securities. All certificates and instruments representing or evidencing the Pledged Certificated
Stock shall be delivered to the Administrative Agent or a Person designated by the Administrative Agent in accordance with the
terms of the Credit Agreement and shall be held pursuant hereto by the Administrative Agent or a Person designated by the Administrative
Agent and, in the case of an instrument or certificate in registered form, shall be duly indorsed to the Administrative Agent or
in blank by an effective endorsement (whether on the certificate or instrument or on a separate writing), and accompanied by any
required transfer tax stamps to effect the pledge of the Pledged Securities to the Administrative Agent. Notwithstanding the preceding
sentence, all Pledged Certificated Stock must be delivered or transferred in such manner, and each Grantor shall take all such
further action as may be reasonably requested by the Administrative Agent, as to permit the Administrative Agent to be a “protected
purchaser” to the extent of its security interest as provided in Section 8-303 of the UCC.


 


Section 3.3            
Grantors Remain Liable under Accounts, Chattel Paper and Payment Intangibles. Anything herein to the contrary
notwithstanding, each Grantor shall remain liable under each of the Accounts, Chattel Paper and Payment Intangibles owned or held
by it to observe and perform all of the conditions and obligations to be observed and performed by it thereunder, all in accordance
with the terms of any agreement giving rise to each such Account, Chattel Paper or Payment Intangible. Neither the Administrative
Agent nor any other Secured Party shall have any obligation or liability under any Account, Chattel Paper or Payment Intangible
(or any agreement giving rise thereto) by reason of or arising out of this Agreement or the receipt by the Administrative Agent
or any such other Secured Party of any payment relating to such Account, Chattel Paper or Payment Intangible pursuant hereto, nor
shall the Administrative Agent or any other Secured Party be obligated in any manner to perform any of the obligations of any Grantor
under or pursuant to any Account, Chattel Paper or Payment Intangible (or any agreement giving rise thereto) to make any payment,
to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance
by any party under any Account, Chattel Paper or Payment Intangible (or any agreement giving rise thereto), to present or file
any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned
to it or to which it may be entitled at any time or times.


 


ARTICLE
IV


 


Acknowledgments, Waivers and Consents


 


Section 4.1            
Acknowledgments, Waivers and Consents.


 


(a)               
Each Guarantor acknowledges and agrees that the obligations undertaken by it under this Agreement involve the guarantee
of, and each Grantor acknowledges and agrees that the obligations undertaken by it under this Agreement involve the provision of
security in the Collateral for, obligations of Persons other than such Grantor and that such Grantor’s guarantee and provision
of security in the Collateral for the Secured Obligations are absolute, irrevocable and unconditional under any and all circumstances
(subject to the terms of this Agreement and the other Loan Documents and subject to any Requirements of Law). In full recognition
and furtherance of the foregoing, each Grantor understands and agrees, to the fullest extent permitted under applicable law and
except as may otherwise be expressly and specifically provided in the Loan Documents, that each Grantor shall remain obligated
hereunder (including with respect to each Guarantor, the guarantee made by it herein and, with respect to each Grantor, the security
in the Collateral provided by such Grantor herein), and the enforceability and effectiveness of this Agreement and the liability
of such Grantor, and the rights, remedies, powers and privileges of the Administrative Agent and the other Secured Parties under
this Agreement and the other Loan Documents, shall not be affected, limited, reduced, discharged or terminated in any way:


 






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(i)                
notwithstanding that, without any reservation of rights against any Grantor and without notice to or further assent by any
Grantor, in each case, subject to and in accordance with the terms of the Loan Documents, (A) any demand for payment of any of
the Secured Obligations made by the Administrative Agent or any other Secured Party may be rescinded by the Administrative Agent
or such other Secured Party and any of the Secured Obligations continued; (B) the Secured Obligations, the liability of any other
Person upon or for any part thereof or any collateral security or guarantee therefor or right of offset with respect thereto may,
from time to time, in whole or in part, be renewed, extended, amended, restated, modified, accelerated, compromised, waived, surrendered
or released by, or any indulgence or forbearance in respect thereof granted by, the Administrative Agent or any other Secured Party;
(C) the Credit Agreement, the other Loan Documents and all other documents executed and delivered in connection therewith or in
connection with Hedging Obligations and Bank Product Obligations included as Obligations may be amended, restated, modified, supplemented
or terminated, in whole or in part, as the Administrative Agent (or the Required Lenders, all Lenders, or the other parties thereto,
as the case may be) may deem advisable from time to time; (D) the Borrower, any Guarantor or any other Person may from time to
time accept or enter into new or additional agreements, security documents, guarantees or other instruments in addition to, in
exchange for or relative to any Loan Document, all or any part of the Secured Obligations or any Collateral now or in the future
serving as security for the Secured Obligations; (E) any collateral security, guarantee or right of offset at any time held by
the Administrative Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived,
surrendered or released; and (F) any other event shall occur which constitutes a defense or release of sureties generally (other
than a defense of payment or performance in full of all Guaranteed Obligations and Secured Obligations (other than Hedging Obligations
owed by any Loan Party to any Lender-Related Hedge Provider, Bank Product Obligations and indemnities and other contingent obligations
not then due and payable and as to which no claim has been made)); and


 


(ii)              
regardless of, and each Grantor hereby expressly waives to the fullest extent permitted by law, any defense now or in the
future arising by reason of, (A) the illegality, invalidity or unenforceability of the Credit Agreement, any other Loan Document,
any of the Secured Obligations or any other security in the Collateral therefor or guarantee or right of offset with respect thereto
at any time or from time to time held by the Administrative Agent or any other Secured Party (other than any such illegality, invalidity
or unenforceability that occurs solely as a result of any action or inaction on the part of the Administrative Agent or any other
Secured Party); (B) any defense, set-off or counterclaim which may at any time be available to or be asserted by any Grantor or
any other Person against the Administrative Agent or any other Secured Party; (C) the insolvency, bankruptcy arrangement, reorganization,
adjustment, composition, liquidation, disability, dissolution or lack of corporate or other organizational power of any Grantor
or any other Person at any time liable for the payment of all or part of the Secured Obligations or the failure of the Administrative
Agent or any other Secured Party to file or enforce a claim in bankruptcy or other proceeding with respect to any Person, or any
sale, lease or transfer of any or all of the assets of any Grantor, or any changes in the shareholders of any Grantor; (D) the
fact that any Collateral or Lien contemplated or intended to be given, created or granted as security for the repayment of the
Secured Obligations shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other
Lien (other than solely as a result of any action or inaction on the part of the Administrative Agent or any other Secured Party),
it being recognized and agreed by each of the Grantors that it is not entering into this Agreement in reliance on, or in contemplation
of the benefits of, the validity, enforceability, collectability or value of any of the Collateral for the Secured Obligations;
(E) any failure of the Administrative Agent or any other Secured Party to marshal assets in favor of any Grantor or any other Person,
to exhaust any Collateral for all or any part of the Secured Obligations, to pursue or exhaust any right, remedy, power or privilege
it may have against any Grantor or any other Person or to take any action whatsoever to mitigate or reduce any Grantor’s
liability under this Agreement or any other Loan Document; (F) any law which provides that the obligation of a surety or guarantor
must neither be larger in amount nor in other respects more burdensome than that of the principal or which reduces a surety’s
or guarantor’s obligation in proportion to the principal obligation (but subject to Section 2.1(c)-(g) hereof); (G)
the possibility that the Secured Obligations may at any time and from time to time exceed the aggregate liability of such Grantor
under this Agreement; or (H) any other circumstance or act whatsoever, including any action or omission of the type described in
subsection (a)(i) of this Section (with or without notice to or knowledge of any Grantor), which constitutes, or might be construed
to constitute, an equitable or legal discharge or defense of the Borrower for the Obligations, or of such Guarantor under the guarantee
contained in Article II, or with respect to the collateral security provided by such Grantor herein, or which might be available
to a surety or guarantor, in bankruptcy or in any other instance (other than, in the case of clauses (A) through (H) hereof, (x) a
defense of payment or performance in full of all Guaranteed Obligations and Secured Obligations (other than Hedging Obligations
owed by any Loan Party to any Lender-Related Hedge Provider, Bank Product Obligations and indemnities and other contingent obligations
not then due and payable and as to which no claim has been made) or (y) a defense that an Event of Default has not occurred under
the Credit Agreement or any other Loan Document).


 






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(b)              
Each Grantor hereby waives to the extent permitted by law and, in each case, except as expressly provided otherwise in any
Loan Document, (i) all notices to such Grantor, or to any other Person, including, but not limited to, notices of the acceptance
of this Agreement, the guarantee contained in Article II or the provision of security in the Collateral provided herein,
or the creation, renewal, extension, modification or accrual of any Secured Obligations, or notice of or proof of reliance by the
Administrative Agent or any other Secured Party upon the guarantee contained in Article II or upon the security in the Collateral
provided herein, or of default in the payment or performance of any of the Secured Obligations owed to the Administrative Agent
or any other Secured Party and enforcement of any right or remedy with respect thereto, or notice of any other matters relating
thereto; the Secured Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or
renewed, extended, amended or waived, in reliance upon the guarantee contained in Article II and the security in the Collateral
provided herein and no notice of creation of the Secured Obligations or any extension of credit already or hereafter contracted
by or extended to the Borrower need be given to any Grantor, and all dealings between the Borrower and any of the Grantors, on
the one hand, and the Administrative Agent and the other Secured Parties, on the other hand, likewise shall be conclusively presumed
to have been had or consummated in reliance upon the guarantee contained in Article II and on the security in the Collateral
provided herein; (ii) diligence and demand of payment, presentment, protest, dishonor and notice of dishonor; (iii) any statute
of limitations affecting any Grantor’s liability hereunder or the enforcement thereof; (iv) all rights of revocation with
respect to the Secured Obligations, the guarantee contained in Article II and the provision of security in the Collateral
herein; and (v) all principles or provisions of law which conflict with the terms of this Agreement and which can, as a matter
of law, be waived.


 


(c)               
When making any demand hereunder or otherwise pursuing its rights and remedies hereunder against any Grantor, the Administrative
Agent or any other Secured Party may, but shall be under no obligation to (unless expressly required to do so by the Required Lenders),
join or make a similar demand on or otherwise pursue or exhaust such rights and remedies as it may have against the Borrower, any
other Grantor or any other Person or against any collateral security or guarantee for the Secured Obligations or any right of offset
with respect thereto, and any failure by the Administrative Agent or any other Secured Party to make any such demand, to pursue
such other rights or remedies or to collect any payments from the Borrower, any other Grantor or any other Person or to realize
upon any such collateral security or guarantee or to exercise any such right of offset, or any release of the Borrower, any other
Grantor or any other Person or any such collateral security, guarantee or right of offset, shall not relieve any Grantor of any
obligation or liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available
as a matter of law, of the Administrative Agent or any other Secured Party against any Grantor. For the purposes hereof, “demand”
shall include the commencement and continuance of any legal proceedings. Neither the Administrative Agent nor any other Secured
Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured
Obligations or for the guarantee contained in Article II or any property subject thereto.


 






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Section 4.2            
No Subrogation, Contribution or Reimbursement. Until all Secured Obligations are satisfied in full (other than
Hedging Obligations owed by any Loan Party to any Lender-Related Hedge Provider, Bank Product Obligations and indemnities and other
contingent obligations not then due and payable and as to which no claim has been made) and all Commitments of each Secured Party
under the Credit Agreement or any other Loan Document have been terminated, notwithstanding any payment made by any Grantor hereunder
or any set-off or application of funds of any Grantor by the Administrative Agent or any other Secured Party, each Grantor’s
right of subrogation to any of the rights of the Administrative Agent or any other Secured Party against the Borrower or any other
Grantor or any collateral security or guarantee or right of offset held by the Administrative Agent or any other Secured Party
for the payment of the Secured Obligations shall be subordinated, and no Grantor shall seek or be entitled to seek any indemnity,
exoneration, participation, contribution or reimbursement from the Borrower or any other Grantor in respect of payments made by
such Grantor hereunder, and each Grantor hereby expressly agrees not to exercise any or all such rights of subrogation, reimbursement,
indemnity and contribution until the payment in full in cash of the Secured Obligations (other than Hedging Obligations owed by
any Loan Party to any Lender-Related Hedge Provider, Bank Product Obligations and indemnities and other contingent obligations
not then due and payable and as to which no claim has been made). Each Grantor further agrees that to the extent that such waiver
and release set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of
subrogation, reimbursement, indemnity and contribution such Grantor may have against the Borrower or any other Grantor or against
any collateral or security or guarantee or right of offset held by the Administrative Agent or any other Secured Party shall be
junior and subordinate to any rights the Administrative Agent and the other Secured Parties may have against the Borrower and such
Grantor and to all right, title and interest the Administrative Agent and the other Secured Parties may have in such collateral
or security or guarantee or right of offset. In accordance with the terms hereof, the Administrative Agent, for the benefit of
the Secured Parties, may use, sell or dispose of any item of Collateral or security as it sees fit without regard to any subrogation
rights any Grantor may have, and upon any disposition or sale of such Collateral by the Administrative Agent in accordance with
the terms hereof, any rights of subrogation any Grantor may have that specifically attach to such Collateral shall terminate.


 


ARTICLE
V


 


Representations and Warranties


 


To induce the Administrative
Agent and the other Secured Parties to enter into the Credit Agreement and the other Loan Documents, to induce the Lenders and
the Issuing Bank to make their respective extensions of credit to the Borrower thereunder and to induce the Lender-Related Hedge
Providers and the Bank Product Providers to enter into Hedging Obligations and Bank Product Obligations with the Grantors, each
Grantor represents and warrants to the Administrative Agent and each other Secured Party as follows:


 






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Section 5.1            
Confirmation of Representations in Credit Agreement. Each Grantor represents and warrants to the Secured Parties
that the representations and warranties set forth in Article IV of the Credit Agreement that specifically relate to such Grantor
(in its capacity as a Loan Party or a Subsidiary of the Borrower, as the case may be) are true and correct in all material respects
(or if already qualified by materiality or Material Adverse Effect, in all respects); provided that each reference in each
such representation and warranty to the Borrower’s knowledge shall, for the purposes of this Section, be deemed to be a reference
to such Guarantor’s knowledge.


 


Section 5.2            
Benefit to the Guarantors. As of the Closing Date, the Borrower is a member of an affiliated group of companies
that includes each Guarantor, and the Borrower and the Guarantors are engaged in related businesses permitted pursuant to Section
5.3 of the Credit Agreement. Each Guarantor is a Subsidiary of the Borrower, and the guaranty and surety obligations of
each Guarantor pursuant to this Agreement reasonably may be expected to benefit, directly or indirectly, such Guarantor; and each
Guarantor has determined that this Agreement is necessary and convenient to the conduct and promotion of the business of such Guarantor
and the Borrower.


 


Section 5.3            
Pledged Securities; Promissory Notes. As of the Closing Date, Schedule 2 correctly sets forth (a) all
duly authorized, issued and outstanding Capital Stock of each Guarantor and each other Person that is beneficially owned by each
Grantor and (b) all Notes held by each Grantor, in each case as of the Closing Date. As of the Closing Date, no Pledged Security
issued by a limited liability company or a limited partnership is a “Security” within the meaning of Article 8 of the
UCC, unless such Pledged Security is evidenced by a certificate.


 


Section 5.4            
First Priority Liens. The Liens granted to the Administrative Agent, for the benefit of the Secured Parties,
pursuant to this Agreement shall be valid, fully perfected Liens on, and security interests in, all right, title and interest of
the Grantors in the Collateral and the proceeds thereof, as security for the Secured Obligations, prior to and superior to any
other Person (except for Specified Permitted Liens) upon the occurrence of the following with respect to such Collateral: (i) in
the case of Pledged Certificated Stock, when certificates representing such Pledged Certificated Stock are delivered to the Administrative
Agent or its designee, (ii) in the case of deposit accounts (other than Excluded Accounts) or Investment Property, when an Account
Control Agreement is executed and delivered by all parties thereto with respect to such deposit accounts or Investment Property,
(iii) in the case of Copyrights, when the filings in subsection (iv) of this Section are made and when, if applicable, the Copyright
Security Agreements in the form attached hereto as Annex II are filed in the United States Copyright Office, and (iv) in the case
of the other Collateral described in this Agreement in which a Lien may be perfected by the filing of a financing statement, when
UCC financing statements are filed in the appropriate filing offices as specified in Article 9 of the UCC (which, as of the Closing
Date, for each of the Grantors is the filing office set forth for each Grantor on Schedule 3).


 


Section 5.5            
Legal Name, Organizational Status, Chief Executive Office. As of the Closing Date, the correct legal name of
such Grantor, such Grantor’s jurisdiction of organization, organizational identification number (if any), federal taxpayer
identification number and the location of such Grantor’s chief executive office or sole place of business are specified on
Schedule 4.


 


Section 5.6            
Prior Names, Prior Chief Executive Offices. Schedule 5 correctly sets forth (a) all names and trade names
that such Grantor has used in the five years preceding the Closing Date and (b) each chief executive office of such Grantor in
the five years preceding the Closing Date (if different from that which is set forth in Schedule 4); provided that, with
respect to any Grantor that was acquired during such five-year period preceding the Closing Date, the information set forth on
Schedule 5 hereto shall be correct to the best of such Grantor’s knowledge.


 






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Section 5.7            
Chattel Paper. No Collateral constituting Chattel Paper in excess of $1,000,000 or Instruments contains any statement
therein to the effect that such Collateral has been assigned to an identified party other than the Administrative Agent, and the
grant of a security interest in such Collateral in favor of the Administrative Agent hereunder does not violate the rights of any
other Person as a secured party.


 


Section 5.8            
Truth of Information; Accounts. All written information with respect to the Collateral set forth in any schedule,
certificate or other writing (other than the Projections, the Profit Plans and other forward-looking information (which shall be
subject solely to the representation set forth in the last sentence of Section 4.4(a) of the Credit Agreement), information regarding
third parties and general economic or industry information ) furnished by or on behalf of such Grantor to the Administrative Agent
or any other Secured Party (as modified or supplemented by any other information so furnished), is or will be, when furnished and
taken as a whole, complete and correct in all material respects and does not or will not, when furnished and taken as a whole,
contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained
therein not materially misleading in light of the circumstances under which such statements are made. As of the Closing Date, the
locations where each Grantor keeps its books and records concerning any Accounts, Chattel Paper and Payment Intangibles that constitute
Collateral are set forth on Schedule 6.


 


Section 5.9            
Governmental Obligors. Except as disclosed to the Administrative Agent from time to time, none of the Account
Debtors on such Grantor’s Accounts, Chattel Paper or Payment Intangibles is a Governmental Authority, except to the extent
such Accounts, Chattel Paper or Payment Intangibles have an aggregate value of less than $1,000,000 at any time outstanding.


 


Section 5.10        
Copyrights, Patents and Trademarks. Schedule 7 sets forth all Patents and Patent Licenses owned by such
Grantor in its own name as of the Closing Date. Schedule 8 sets forth all Trademarks and Trademark Licenses owned by such
Grantor in its own name as of the Closing Date. Schedule 9 sets forth all Copyrights and Copyright Licenses owned by such
Grantor in its own name as of the Closing Date. To the best of each such Grantor’s knowledge, each such Patent and Trademark
is valid, subsisting, unexpired and enforceable and has not been abandoned. Except as set forth in either such Schedule, none of
such Patents, Trademarks and Copyrights is the subject of any licensing or franchise agreement. No holding, decision or judgment
has been rendered by any Governmental Authority which would limit, cancel or question the validity of any Patent, Trademark or
Copyright. No action or proceeding is pending (i) seeking to limit, cancel or question the validity of any Patent, Trademark
or Copyright, or (ii) which, if adversely determined, would have a material adverse effect on the value of any Patent, Trademark
or Copyright.


 


ARTICLE
VI


 


Covenants


 


Each Grantor covenants
and agrees with the Administrative Agent and the other Secured Parties that, so long as any Lender has a Commitment under the Credit
Agreement or any Secured Obligation remains unpaid or outstanding (other than Hedging Obligations owed by any Loan Party to any
Lender-Related Hedge Provider, Bank Product Obligations and indemnities and other contingent obligations not then due and payable
and as to which no claim has been made):


 


Section 6.1            
Covenants in Credit Agreement. In the case of each Guarantor, such Guarantor shall take, or shall refrain from
taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no Default or Event
of Default is caused by the failure to take such action or to refrain from taking such action by such Guarantor or any of its Subsidiaries.


 






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Section 6.2            
Maintenance of Perfected Security Interest; Further Documentation.


 


(a)               
Such Grantor shall maintain the security interest created by this Agreement as a perfected security interest having at least
the priority described in Section 5.4 and shall defend such security interest against the claims and demands of all Persons
whomsoever, except for Liens permitted by Section 7.2 of the Credit Agreement.


 


(b)              
Such Grantor will execute any and all further documents, financing statements, agreements and instruments, and take all
such further actions (including the filing and recording of financing statements, fixture filings, Mortgages and other documents),
which may be required under any applicable law, or which the Administrative Agent or the Required Lenders may reasonably request,
to effectuate the transactions contemplated by the Loan Documents or to grant, preserve, protect or perfect the Liens created by
this Agreement and the other Collateral Documents or the validity or priority of any such Lien, all at the expense of the Grantors.
Such Grantor also agrees to provide to the Administrative Agent, from time to time upon request, evidence reasonably satisfactory
to the Administrative Agent as to the perfection and priority of the Liens created or intended to be created by this Agreement
and the other Collateral Documents.


 


(c)               
Without limiting the obligations of the Grantors under subsection (b) of this Section, (i) upon the reasonable request of
the Administrative Agent, such Grantor shall take or cause to be taken all actions (other than any actions required to be taken
by the Administrative Agent) reasonably requested by the Administrative Agent to cause the Administrative Agent to (A) have
“control” (within the meaning of Sections 9-104, 9-105, 9-106, and 9-107 of the UCC) over any Collateral constituting
Deposit Accounts, Electronic Chattel Paper, Investment Property (including the Pledged Securities), or Letter-of-Credit Rights,
including, without limitation, executing and delivering any agreements, in form and substance reasonably satisfactory to the Administrative
Agent, with securities intermediaries, issuers or other Persons in order to establish “control”, and each Grantor shall
promptly notify the Administrative Agent and the other Secured Parties of such Grantor’s acquisition of any such Collateral,
and (B) be a “protected purchaser” (as defined in Section 8-303 of the UCC); (ii) with respect to Collateral other
than Pledged Certificated Stock and Goods covered by a Document in the possession of a Person other than such Grantor, the Administrative
Agent (or any designee of the Administrative Agent) or any other Secured Party, such Grantor shall use its commercially reasonable
efforts to obtain written acknowledgment that such Person holds possession for the Administrative Agent’s benefit; and (iii)
with respect to any Collateral constituting Goods with a value in excess of $1,000,000 that are in the possession of a bailee,
such Grantor shall provide prompt notice to the Administrative Agent and the other Secured Parties of any such Collateral then
in the possession of such bailee, and such Grantor shall take or cause to be taken all actions (other than any actions required
to be taken by the Administrative Agent or any other Secured Party or any action required to be taken by such bailee) necessary
or reasonably requested by the Administrative Agent to cause the Administrative Agent to have a perfected security interest in
such Collateral under applicable law.


 


Section 6.3            
Maintenance of Records. Such Grantor will keep and maintain at its own cost and expense proper books and records
with respect to the Collateral, including, without limitation, a record of all payments received and all credits granted with respect
to the Accounts comprising any part of the Collateral. For the Administrative Agent’s and the other Secured Parties’
further security, the Administrative Agent, for the ratable benefit of the Secured Parties, shall have a security interest
in all of such Grantor’s books and records pertaining to the Collateral.


 


Section 6.4            
Right of Inspection. Such Grantor will permit any representative of the Administrative Agent to visit and inspect
its properties, to examine its books and records and to make copies and take extracts therefrom, and to discuss its affairs, finances
and accounts with any of its officers and with its independent certified public accountants (provided that such Grantor
is provided reasonable prior notice of any discussion with its auditors or accountants and is afforded an opportunity to participate
in such discussions), all at such reasonable times and subject to reasonable prior notice to such Grantor; provided that,
so long as no Event of Default has occurred and is continuing, visits and inspections under this Section 6.4 shall be limited
to one time per Fiscal Year. Any Secured Party may accompany the Administrative Agent on any visit or inspection pursuant to this
Section 6.4, at such Secured Party’s expense. Any Related Party of the Administrative Agent or any Secured Party that
attends or participates in any such visit or inspection shall, prior to such attendance or participation, expressly agree to be
subject to and bound by the confidentiality provisions of the Credit Agreement or shall otherwise be bound by professional ethics
rules to maintain such confidentiality.


 






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Section 6.5            
Further Identification of Collateral. Such Grantor will furnish to the Administrative Agent from time to time
(but no more than two (2) times during any twelve month period when no Event of Default has occurred and is continuing), at such
Grantor’s sole cost and expense, statements and schedules further identifying and describing the Collateral and such other
reports in connection with the Collateral as the Administrative Agent may reasonably request, all in reasonable detail.


 


Section 6.6            
Changes in Names, Locations. Such Grantor recognizes that financing statements pertaining to the Collateral have
been or may be filed where such Grantor is organized. Without limitation of any other covenant herein, such Grantor will not cause
or permit (i) any change to be made in its legal name, identity or corporate, limited liability company, or limited partnership
structure or (ii) any change to (A) the identity of any warehouseman, common carrier, other third party transporter, bailee or
any agent or processor in possession or control of any Collateral with a value in excess of $1,000,000 or (B) such Grantor’s
jurisdiction of organization, unless such Grantor shall have first (1) notified the Administrative Agent (who shall notify each
other Secured Party) of such change at least 30 days prior to the date of such change, and (2) taken all action reasonably requested
by the Administrative Agent or any other Secured Party for the purpose of maintaining the perfection and priority of the Administrative
Agent’s security interests under this Agreement, and unless such Grantor shall otherwise be in compliance with Section 7.3
of the Credit Agreement. In any notice furnished pursuant to this Section, such Grantor will expressly state in a conspicuous manner
that the notice is required by this Agreement and contains facts that may require additional filings of financing statements or
other notices for the purposes of continuing perfection of the Administrative Agent’s security interest in the Collateral.


 


Section 6.7            
Pledged Securities.


 


(a)               
If such Grantor shall become entitled to receive or shall receive any stock certificate or other instrument (including,
without limitation, any certificate or instrument representing a dividend or a distribution in connection with any reclassification,
increase or reduction of capital or any certificate or instrument issued in connection with any reorganization), option or rights
in respect of the Capital Stock of any Issuer of Pledged Securities, whether in addition to, in substitution of, as a conversion
of, or in exchange for, any shares (or such other interests) of the Pledged Securities, or otherwise in respect thereof, except
as otherwise provided herein or in the Credit Agreement, such Grantor shall accept the same for the benefit of the Administrative
Agent, hold the same on behalf of and for the benefit of the Administrative Agent and deliver the same forthwith to the Administrative
Agent in the exact form received, duly indorsed by such Grantor to the Administrative Agent, if required, together with an undated
stock power or other equivalent instrument of transfer reasonably acceptable to the Administrative Agent covering such certificate
or instrument duly executed in blank by such Grantor and with, if the Administrative Agent so requests, signature guaranteed, to
be held by the Administrative Agent, subject to the terms hereof, as additional collateral security for the Secured Obligations.


 






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(b)              
Without the prior written consent of the Administrative Agent, except to the extent permitted by the Credit Agreement (or
pursuant to or in connection with a transaction permitted by the Credit Agreement), such Grantor will not (i) vote to enable, or
take any other action to cause, any Issuer of Pledged Securities to issue any Capital Stock or to issue any other securities or
interests convertible into or granting the right to purchase or exchange for any Capital Stock of any Issuer (unless such Grantor
complies with the terms of the Loan Documents with respect to any such additional issuance), (ii) sell, assign, transfer, exchange
or otherwise dispose of, or grant any option with respect to, the Pledged Securities or Proceeds thereof, (iii) create, incur or
permit to exist any Lien or option in favor of, or any claim of any Person with respect to, any of the Pledged Securities or Proceeds
thereof, or any interest therein, or (iv) enter into any agreement or undertaking restricting the right or ability of such Grantor
or the Administrative Agent to sell, assign or transfer any of the Pledged Securities or Proceeds thereof.


 


(c)               
In the case of each Grantor which is an Issuer, and each other Issuer that executes the Acknowledgment and Consent in the
form of Annex III (which the applicable Grantor shall use its commercially reasonable efforts to obtain from each such other
Issuer), such Issuer agrees that (i) it will be bound by the terms of this Agreement relating to the Pledged Securities issued
by it and will comply with such terms insofar as such terms are applicable to it, (ii) it will notify the Administrative Agent
promptly in writing of the occurrence of any of the events described in subsection (a) of this Section with respect to the Pledged
Securities issued by it and (iii) the terms of Section 7.1(c) and Section 7.5 shall apply to it, mutatis mutandis,
with respect to all actions that may be required of it pursuant to Section 7.1(c) or Section 7.5 with respect to
the Pledged Securities issued by it.


 


(d)              
Such Grantor shall furnish to the Administrative Agent such powers and other equivalent instruments of transfer as may be
reasonably required by the Administrative Agent to assure the transferability of and the perfection of the security interest in
the Pledged Securities when and as often as may be reasonably requested by the Administrative Agent.


 


(e)               
[Reserved].


 


(f)               
Each Grantor acknowledges and agrees that, to the extent any interest in any limited liability company or limited partnership
constituting Pledged Securities hereunder is a “Security” within the meaning of Article 8 of the UCC and is governed
by Article 8 of the UCC, such interest shall be represented by a certificate. Each Grantor further acknowledges and agrees that
with respect to any interest in any limited liability company or limited partnership constituting Pledged Securities hereunder
that is not a “Security” within the meaning of Article 8 of the UCC, such Grantor shall at no time elect to treat any
such interest as a “Security” within the meaning of Article 8 of the UCC, unless such election and such interest is
thereafter represented by a certificate that is promptly delivered to the Administrative Agent pursuant to the terms hereof.


 


(g)               
If any Grantor acquires any Capital Stock or Stock Equivalents that do not constitute Excluded Capital Stock after executing
this Agreement, such Capital Stock and Stock Equivalents shall automatically constitute Collateral and, upon the reasonable request
of the Administrative Agent, such Grantor shall promptly deliver a revised Schedule 2 which shall replace the then existing
Schedule 2 to this Agreement.


 


Section 6.8            
Limitations on Modifications, Waivers, Extensions of Agreements Giving Rise to Accounts. Such Grantor will not
(i) amend, modify, terminate or waive any provision of any Chattel Paper, Instrument or any agreement giving rise to an Account
or Payment Intangible comprising a portion of the Collateral, or (ii) fail to exercise promptly and diligently each and every right
which it may have under any Chattel Paper, Instrument and each agreement giving rise to an Account or Payment Intangible comprising
a portion of the Collateral (other than any right of termination), except where such action or failure to act, individually or
in the aggregate, could not reasonably be expected to have a Material Adverse Effect.


 






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Section 6.9            
Instruments and Tangible Chattel Paper. If any amount payable under or in connection with any of the Collateral
shall be or become evidenced by any Instrument or Tangible Chattel Paper and the value of such Instruments and Tangible Chattel
Paper in the aggregate is $1,000,000 or more, each such Instrument or Tangible Chattel Paper, shall be delivered to the Administrative
Agent as soon as practicable, duly endorsed in a manner reasonably satisfactory to the Administrative Agent to be held as Collateral
pursuant to this Agreement.


 


Section 6.10        
Copyrights, Patents and Trademarks.


 


(a)               
Such Grantor (either itself or through licensees) will, except with respect to any Trademark that such Grantor shall reasonably
determine is immaterial or as is permitted by Section 7.6 of the Credit Agreement, (i) maintain as in the past the quality of services
offered under such Trademark, (ii) maintain such Trademark in full force and effect, free from any claim of abandonment for non-use,
(iii) employ such Trademark with the appropriate notice of registration, and (iv) not (and not permit any licensee or sublicensee
thereof to) do any act or knowingly omit to do any act whereby any Trademark may become invalidated.


 


(b)              
Such Grantor will not, except with respect to any Patent that such Grantor shall reasonably determine is immaterial or as
is permitted by Section 7.6 of the Credit Agreement, do any act, or omit to do any act, whereby any Patent may become abandoned
or dedicated.


 


(c)               
Such Grantor will not, except with respect to any Copyright that such Grantor shall reasonably determine is immaterial or
as is permitted by Section 7.6 of the Credit Agreement, do any act, or omit to do any act, whereby any Copyright may become abandoned
or dedicated.


 


(d)              
Such Grantor will notify the Administrative Agent promptly if it knows, or has reason to know, that any application or registration
relating to any Copyright, Patent or Trademark may become abandoned or dedicated (except with respect to any Copyright, Patent
or Trademark that such Grantor shall reasonably determine is immaterial or as is permitted by Section 7.6 of the Credit Agreement),
or of any adverse determination or development (including, without limitation, the institution of, or any such determination or
development in, any proceeding in the United States Patent and Trademark Office, the United States Copyright Office or any court
or tribunal in any country) regarding such Grantor’s ownership of any Copyright, Patent or Trademark or its right to register
the same or to keep and maintain the same.


 


(e)               
Whenever a Grantor, either by itself or through any agent, employee, licensee or designee, shall file an application for
the registration of any Copyright, Patent or Trademark with the United States Copyright Office, the United States Patent and Trademark
Office or any similar office or agency in any other country or any political subdivision thereof, such Grantor shall report such
filing to the Administrative Agent within five (5) Business Days after the last day of the fiscal quarter in which such filing
occurs. Upon the reasonable request of the Administrative Agent, such Grantor shall execute and deliver an Intellectual Property
Security Agreement substantially in the form of Annex II, and any and all other agreements, instruments, documents,
and papers as the Administrative Agent may reasonably request to evidence the Administrative Agent’s security interest in
any Copyright, Patent or Trademark and the goodwill and General Intangibles of such Grantor relating thereto or represented thereby.


 






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(f)               
Such Grantor will take all reasonable and necessary steps, including, without limitation, in any proceeding before the United
States Copyright Office, the United States Patent and Trademark Office, or any similar office or agency in any other country or
any political subdivision thereof, to maintain and pursue each application (and to obtain the relevant registration) and to maintain
each registration of the Copyrights, Patents and Trademarks, including, without limitation, filing of applications for renewal,
affidavits of use and affidavits of incontestability.


 


(g)               
In the event that any Copyright, Patent or Trademark included in the Collateral is infringed, misappropriated or diluted
by a third party, such Grantor shall promptly notify the Administrative Agent after it learns thereof and shall, unless such Grantor
shall reasonably determine that such Copyright, Patent or Trademark is immaterial to such Grantor, promptly take actions to remedy
or address such infringement, misappropriation or dilution, including to seek injunctive relief where appropriate and to recover
any and all damages for such infringement, misappropriation or dilution, or take such other actions as such Grantor shall reasonably
deem appropriate under the circumstances to protect such Copyright, Patent or Trademark.


 


Section 6.11        
Commercial Tort Claims. If such Grantor shall at any time hold or acquire a Commercial Tort Claim that satisfies
the requirements of the following sentence, such Grantor shall, within 30 days after such Commercial Tort Claim satisfies such
requirements, notify the Administrative Agent in a writing signed by such Grantor containing a brief description thereof, and granting
to the Administrative Agent (for the benefit of the Secured Parties) in such writing a security interest therein and in the Proceeds
thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Administrative
Agent. The provisions of the preceding sentence shall apply only to a Commercial Tort Claim that satisfies the following requirements:
(i) the monetary value claimed by or payable to the relevant Grantor in connection with such Commercial Tort Claim shall exceed
$1,000,000, and (ii) either (A) such Grantor shall have filed a law suit or counterclaim or otherwise commenced legal proceedings
(including, without limitation, arbitration proceedings) against the Person against whom such Commercial Tort Claim is made, or
(B) such Grantor and the Person against whom such Commercial Tort Claim is asserted shall have entered into a settlement agreement
with respect to such Commercial Tort Claim. In addition, to the extent that the existence of any Commercial Tort Claim held or
acquired by any Grantor is disclosed by such Grantor in any public filing with the Securities Exchange Commission or any successor
thereto or analogous Governmental Authority, or to the extent that the existence of any such Commercial Tort Claim is disclosed
in any press release issued by any Grantor, then, upon the reasonable request of the Administrative Agent, the relevant Grantor
shall, within 30 days after such request is made, transmit to the Administrative Agent a writing signed by such Grantor containing
a brief description of such Commercial Tort Claim and granting to the Administrative Agent (for the benefit of the Secured Parties)
in such writing a security interest therein and in the Proceeds thereof, all upon the terms of this Agreement, with such writing
to be in form and substance reasonably satisfactory to the Administrative Agent.


 


ARTICLE
VII


 


Remedial Provisions


 


Section 7.1            
Pledged Securities.


 


(a)               
Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given one (1) Business
Day’s prior written notice to the relevant Grantor of the Administrative Agent’s intent to exercise its corresponding
rights pursuant to subsection (b) of this Section, each Grantor shall be permitted to receive all cash dividends paid in respect
of the Pledged Securities paid in the normal course of business of the relevant Issuer, to the extent permitted by the Credit Agreement,
and to exercise all voting and corporate rights with respect to the Pledged Securities.


 






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(b)              
If an Event of Default shall occur and be continuing, then at any time in the Administrative Agent’s discretion, upon
one (1) Business Day’s prior written notice to the relevant Grantor, (i) the Administrative Agent shall have the right to
receive any and all cash dividends, payments or other Proceeds paid in respect of the Pledged Securities and make application thereof
to the Obligations in accordance with Section 2.12(d) of the Credit Agreement, and (ii) any or all of the Pledged Securities shall
be registered in the name of the Administrative Agent or its nominee, and the Administrative Agent or its nominee may thereafter
exercise (x) all voting, corporate and other rights pertaining to such Pledged Securities at any meeting of shareholders (or other
equivalent body) of the relevant Issuer or Issuers or otherwise and (y) any and all rights of conversion, exchange and subscription
and any other rights, privileges or options pertaining to such Pledged Securities as if it were the absolute owner thereof (including,
without limitation, the right to exchange at its discretion any and all of the Pledged Securities upon the merger, consolidation,
reorganization, recapitalization or other fundamental change in the organizational structure of any Issuer, or upon the exercise
by any Grantor or the Administrative Agent of any right, privilege or option pertaining to such Pledged Securities, and in connection
therewith, the right to deposit and deliver any and all of the Pledged Securities with any committee, depositary, transfer agent,
registrar or other designated agency upon such terms and conditions as the Administrative Agent may determine), all without liability
except to account for property actually received by it, but the Administrative Agent shall have no duty to any Grantor to exercise
any such right, privilege or option and shall not be responsible for any failure to do so or delay in so doing.


 


(c)               
Each Grantor hereby authorizes and instructs each Issuer of any Pledged Securities pledged by such Grantor hereunder (and
each Issuer party hereto hereby agrees) to comply with any instruction received by it from the Administrative Agent in writing
(including any instruction to pay any dividends or other payments with respect to such Pledged Securities directly to the Administrative
Agent), in each case, (i) after an Event of Default has occurred and is continuing (so long as the Administrative Agent has complied
with the notice provisions of subsection (b) above) and (ii) that is otherwise in accordance with the terms of this Agreement,
without any other or further instructions from such Grantor, and each Grantor agrees that each Issuer shall be fully protected
in so complying.


 


(d)              
After the occurrence and during the continuance of an Event of Default, upon one (1) Business Day’s prior written
notice to the relevant Grantor, if the Issuer of any Pledged Securities is the subject of bankruptcy, insolvency, receivership,
custodianship or other proceedings under the supervision of any Governmental Authority, then all rights of the Grantor in respect
thereof to exercise the voting and other consensual rights which such Grantor would otherwise be entitled to exercise with respect
to the Pledged Securities issued by such Issuer shall cease, and all such rights shall thereupon become vested in the Administrative
Agent who shall thereupon have the sole right to exercise such voting and other consensual rights, but the Administrative Agent
shall have no duty to exercise any such voting or other consensual rights and shall not be responsible for any failure to do so
or delay in so doing.


 


Section 7.2            
Collections on Accounts. The Administrative Agent hereby authorizes each Grantor to collect upon the Accounts,
Instruments, Chattel Paper and Payment Intangibles until the occurrence and during the continuance of an Event of Default. Upon
the request of the Administrative Agent, at any time after the occurrence and during the continuance of an Event of Default, each
Grantor shall notify the applicable Account Debtors that the applicable Accounts, Chattel Paper and Payment Intangibles have been
assigned to the Administrative Agent for the ratable benefit of the Secured Parties and that payments in respect thereof shall
be made directly to the Administrative Agent. Upon the occurrence of and during the continuance of an Event of Default, the Administrative
Agent may in its own name or in the name of the applicable Grantor communicate with the applicable Account Debtors to verify with
them to its satisfaction the existence, amount and terms of any applicable Accounts, Chattel Paper or Payment Intangibles; provided
that the applicable Grantor shall have a reasonable opportunity to be present for or participate in any such communications between
the Account Debtor and the Administrative Agent.


 






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Section 7.3            
Proceeds. If required by the Administrative Agent at any time after the occurrence and during the continuance
of an Event of Default, any payments of Accounts, Instruments, Chattel Paper and Payment Intangibles comprising a portion of the
Collateral, when collected or received by each Grantor, and any other cash or non-cash Proceeds received by each Grantor upon the
sale or other disposition of any Collateral, shall be forthwith (and, in any event, within two (2) Business Days) deposited by
such Grantor in the exact form received, duly indorsed by such Grantor to the Administrative Agent in a special collateral account
maintained by the Administrative Agent subject to withdrawal by the Administrative Agent for the ratable benefit of the Secured
Parties only, as hereinafter provided, and, until so turned over, shall be held by such Grantor on behalf of and for the benefit
of the Administrative Agent for the ratable benefit of the Secured Parties segregated from other funds of any such Grantor. Each
deposit of any such Proceeds shall be accompanied by a report identifying in detail the nature and source of the payments included
in the deposit. All Proceeds of the Collateral (including, without limitation, Proceeds constituting collections of Accounts, Chattel
Paper, Instruments or Payment Intangibles comprising a portion of the Collateral) while held by the Administrative Agent (or by
any Grantor on behalf of and for the benefit of the Administrative Agent for the ratable benefit of the Secured Parties) shall
continue to be collateral security for all of the Secured Obligations and shall not constitute payment thereof until applied as
hereinafter provided. At such intervals as may be agreed upon by each Grantor and the Administrative Agent, or, if an Event of
Default shall have occurred and be continuing, at any time at the Administrative Agent’s election, the Administrative Agent
shall apply all or any part of the Proceeds on deposit in said special collateral account on account of the Secured Obligations
in the order set forth in Section 8.2 of the Credit Agreement, and any part of such Proceeds which the Administrative Agent elects
not so to apply and deems not required as collateral security for the Secured Obligations shall be paid over from time to time
by the Administrative Agent to each Grantor or to whomsoever may be lawfully entitled to receive the same.


 


Section 7.4            
UCC and Other Remedies.


 


(a)               
If an Event of Default shall occur and be continuing, the Administrative Agent, on behalf of the Secured Parties, may exercise
in its discretion, in addition to all other rights, remedies, powers and privileges granted to them in this Agreement, the other
Loan Documents, and in any other instrument or agreement securing, evidencing or relating to the Secured Obligations, all rights,
remedies, powers and privileges of a secured party under the UCC (regardless of whether the UCC is in effect in the jurisdiction
where such rights, remedies, powers or privileges are asserted) or any other applicable law or otherwise available at law or equity.
Without limiting the generality of the foregoing, the Administrative Agent, without demand of performance or other demand, presentment,
protest, advertisement or notice of any kind (except any notice required by law referred to below or required by the Loan Documents)
to or upon any Grantor or any other Person (all and each of which demands, presentments, protests, advertisements and notices are
hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part
thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the
Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales,
at any exchange, broker’s board or office of the Administrative Agent or elsewhere upon such terms and conditions as it may
deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit
risk. The Administrative Agent shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon
any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption
in any Grantor, which right or equity is hereby waived and released. If an Event of Default shall occur and be continuing, each
Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative
Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere.
Any such sale or transfer by the Administrative Agent either to itself or to any other Person shall be absolutely free from any
claim of right by any Grantor, including any equity or right of redemption, stay or appraisal which such Grantor has or may have
under any rule of law, regulation or statute now existing or hereafter adopted. Upon any such sale or transfer, the Administrative
Agent shall have the right to deliver, assign and transfer to the purchaser or transferee thereof the Collateral so sold or transferred.
The Administrative Agent shall apply the net proceeds of any action taken by it pursuant to this Section, after deducting all reasonable
and documented out-of-pocket costs and expenses incurred in connection therewith or incidental to the care or safekeeping of any
of the Collateral or in any way relating to the Collateral or the rights of the Administrative Agent hereunder, including, without
limitation, reasonable and documented out-of-pocket attorneys’ fees and disbursements, to the payment in whole or in part
of the Obligations, in accordance with Section 8.2 of the Credit Agreement, and only after such application and after the payment
by the Administrative Agent of any other amount required by any provision of law, including, without limitation, Section 9-615
of the UCC, need the Administrative Agent account for the surplus, if any, to any Grantor. To the extent permitted by applicable
law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent arising out of the exercise
by them of any rights hereunder. If any notice of a proposed sale or other disposition of Collateral shall be required by law,
such notice shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition.


 






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(b)              
In the event that the Administrative Agent elects not to sell the Collateral, the Administrative Agent retains its rights
to dispose of or utilize the Collateral or any part or parts thereof in any manner authorized or permitted by law or in equity
and to apply the proceeds of the same towards payment of the Secured Obligations. Each and every method of disposition of the Collateral
described in this Agreement shall constitute disposition in a commercially reasonable manner. The Administrative Agent may appoint
any Person as agent to perform any act or acts necessary or incident to any sale or transfer of the Collateral.


 


Section 7.5            
Private Sales of Pledged Securities. Each Grantor recognizes that the Administrative Agent may be unable to effect
a public sale of any or all the Pledged Securities, by reason of certain prohibitions contained in the Securities Act and applicable
state securities laws or otherwise, and may be compelled to resort to one or more private sales thereof to a restricted group of
purchasers which will be obliged to agree, among other things, to acquire such securities for their own account for investment
and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that any such private sale may
result in prices and other terms less favorable than if such sale were a public sale and, notwithstanding such circumstances, agrees
that any such private sale shall be deemed to have been made in a commercially reasonable manner. The Administrative Agent shall
be under no obligation to delay a sale of any of the Pledged Securities for the period of time necessary to permit the Issuer thereof
to register such securities for public sale under the Securities Act, or under applicable state securities laws, even if such Issuer
would agree to do so. Each Grantor agrees to use its best efforts to do or cause to be done all such other acts as may reasonably
be necessary to make such sale or sales of all or any portion of the Pledged Securities pursuant to this Section valid and binding
and in compliance with any and all other applicable Requirements of Law. Each Grantor further agrees that a breach of any of the
covenants contained in this Section will cause irreparable injury to the Administrative Agent and the other Secured Parties, that
the Administrative Agent and the other Secured Parties have no adequate remedy at law in respect of such breach and, as a consequence,
that each and every covenant contained in this Section shall be specifically enforceable against such Grantor, and such Grantor
hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants.


 






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Section 7.6            
Deficiency. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition
of the Collateral are insufficient to pay its Obligations or Guaranteed Obligations, as the case may be, and the reasonable and
documented out-of-pocket fees and disbursements of any attorneys employed by the Administrative Agent or any other Secured Party
to collect such deficiency.


 


Section 7.7            
Non-Judicial Enforcement. The Administrative Agent may enforce its rights hereunder without prior judicial process
or judicial hearing, and, to the extent permitted by law, each Grantor expressly waives any and all legal rights which might otherwise
require the Administrative Agent to enforce its rights by judicial process (to the extent permitted to be waived by applicable
law).


 


ARTICLE
VIII


 


The Administrative Agent


 


Section 8.1            
The Administrative Agent’s Appointment as Attorney-in-Fact.


 


(a)               
Each Grantor hereby irrevocably constitutes and appoints the Administrative Agent, after the occurrence and during the continuance
of an Event of Default, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and
authority in the place and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying
out the terms of this Agreement, to take any and all reasonably appropriate action and to execute any and all documents and instruments
which may be reasonably necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality
of the foregoing, each Grantor hereby gives the Administrative Agent the power and right, on behalf of such Grantor, without notice
to or assent by such Grantor, after the occurrence and during the continuance of an Event of Default, to do any or all of the following:


 


(i)                
pay or discharge Taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or any insurance
called for by the terms of this Agreement and pay all or any part of the premiums therefor and the costs thereof;


 


(ii)              
execute, in connection with any sale provided for in Section 7.4 or Section 7.5, any endorsements, assignments
or other instruments of conveyance or transfer with respect to the Collateral; and


 


(iii)            
(A) direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to
become due thereunder directly to the Administrative Agent or as the Administrative Agent shall direct; (B) take possession of
and indorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Account,
Instrument, General Intangible, Chattel Paper or Payment Intangible constituting Collateral or with respect to any other Collateral,
and to file any claim or to take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by
the Administrative Agent for the purpose of collecting any or all such moneys due under any Account, Instrument or General Intangible
constituting Collateral or with respect to any other Collateral whenever payable; (C) ask or demand for, collect, and receive payment
of and receipt for any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of
any Collateral; (D) sign and indorse any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts
against debtors, assignments, verifications, notices and other documents in connection with any of the Collateral; (E) receive,
change the address for delivery, open and dispose of mail addressed to any Grantor, and execute, assign and indorse negotiable
and other instruments for the payment of money, documents of title or other evidences of payment, shipment or storage for any form
of Collateral on behalf of and in the name of any Grantor; (F) commence and prosecute any suits, actions or proceedings at law
or in equity in any court of competent jurisdiction to collect the Collateral or any portion thereof and to enforce any other right
in respect of any Collateral; (G) defend any suit, action or proceeding brought against such Grantor with respect to any Collateral;
(H) settle, compromise or adjust any such suit, action or proceeding and, in connection therewith, give such discharges or releases
as the Administrative Agent may deem appropriate; (I) assign any Patent or Trademark (along with the goodwill of the business to
which any such Trademark pertains) throughout the world for such term or terms, on such conditions, and in such manner as the Administrative
Agent shall in its sole discretion determine; and (J) generally, sell, transfer, pledge and make any agreement with respect to
or otherwise deal with any of the Collateral as fully and completely as though the Administrative Agent were the absolute owner
thereof for all purposes, and do, at the Administrative Agent’s option and such Grantor’s expense, at any time, or
from time to time, all acts and things which the Administrative Agent deems necessary to protect, preserve or realize upon the
Collateral and the Administrative Agent’s and the other Secured Parties’ security interests therein and to effect the
intent of this Agreement, all as fully and effectively as such Grantor might do.


 






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Other than as required
by Section 7.1, the Administrative Agent shall give the relevant Grantor notice of any action taken pursuant to this subsection
when reasonably practicable; provided that the Administrative Agent shall have no liability for the failure to provide any
such notice.


 


(b)              
If any Grantor fails to perform or comply with any of its agreements contained herein within the applicable grace periods,
the Administrative Agent, at its option, but without any obligation so to do, may perform or comply, or otherwise cause performance
or compliance, with such agreement, in accordance with the terms hereof.


 


(c)               
The reasonable and documented out-of-pocket expenses of the Administrative Agent incurred in connection with actions undertaken
as provided in this Section shall be payable by such Grantor to the Administrative Agent on demand.


 


(d)              
Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof and in compliance
herewith, subject in all respects to the terms hereof. All powers, authorizations and agencies contained in this Agreement are
coupled with an interest and are irrevocable until this Agreement is terminated and the security interests created hereby are released.


 


Section 8.2            
Duty of the Administrative Agent. The Administrative Agent’s sole duty with respect to the custody, safekeeping
and physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to deal with
it in the same manner as the Administrative Agent deals with similar property for its own account and the Administrative Agent
shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if the Collateral
is accorded treatment substantially equal to that which comparable secured parties accord comparable collateral. Neither the Administrative
Agent, any other Secured Party nor any of their respective officers, directors, employees or agents shall be liable for failure
to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to sell
or otherwise dispose of any Collateral upon the request of any Grantor or any other Person or to take any other action whatsoever
with regard to the Collateral or any part thereof. The powers conferred on the Administrative Agent hereunder are solely to protect
the Administrative Agent’s and the other Secured Parties’ interests in the Collateral and shall not impose any duty
upon the Administrative Agent to exercise any such powers. The Administrative Agent and the other Secured Parties shall be accountable
only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers,
directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except, with respect
to any Secured Party, as determined by a court of competent jurisdiction in a final and non-appealable judgment to have resulted
from (a) its own bad faith, gross negligence or willful misconduct or (b) a material breach by such Secured Party of any of its
undertakings, obligations or commitments under this Agreement or any other Loan Document. To the fullest extent permitted by applicable
law and except as required by this Agreement, the Administrative Agent shall be under no duty whatsoever to make or give any presentment,
notice of dishonor, protest, demand for performance, notice of non-performance, notice of intent to accelerate, notice of acceleration,
or other notice or demand in connection with any Collateral, or to take any steps necessary to preserve any rights against any
Grantor or other Person or ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or
other matters relative to any Collateral, whether or not it has or is deemed to have knowledge of such matters. Each Grantor, to
the extent permitted by applicable law, waives any right of marshaling in respect of any and all Collateral, and waives any right
to require the Administrative Agent or any other Secured Party to proceed against any Grantor or other Person, exhaust any Collateral
or enforce any other remedy which the Administrative Agent or any other Secured Party now has or may hereafter have against any
Grantor or other Person.


 






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Section 8.3            
Filing of Financing Statements. Pursuant to the UCC and any other applicable law, each Grantor authorizes the
Administrative Agent, its counsel or its representative, at any time and from time to time, to file or record financing statements,
continuation statements, amendments thereto and other filing or recording documents or instruments with respect to the Collateral
without the signature of such Grantor in such form and in such offices as the Administrative Agent reasonably determines appropriate
to perfect the security interests of the Administrative Agent under this Agreement. Additionally, each Grantor authorizes the Administrative
Agent, its counsel or its representative, at any time and from time to time, to file or record such financing statements that describe
the collateral covered thereby as “all assets of the Grantor”, “all personal property of the Grantor” or
words of similar effect. A photographic or other reproduction of this Agreement shall be sufficient as a financing statement or
other filing or recording document or instrument for filing or recording in any jurisdiction.


 


Section 8.4            
Authority of the Administrative Agent. Each Grantor acknowledges that the rights and responsibilities of the
Administrative Agent under this Agreement with respect to any action taken by the Administrative Agent or the exercise or non-exercise
by the Administrative Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting
or arising out of this Agreement shall, as between the Administrative Agent and the other Secured Parties, be governed by the Credit
Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Administrative
Agent and the Grantors, the Administrative Agent shall be conclusively presumed to be acting as agent for the Secured Parties with
full and valid authority so to act or refrain from acting, and no Grantor shall be under any obligation, or entitlement, to make
any inquiry respecting such authority.


 


ARTICLE
IX


 


Subordination of Indebtedness


 


Section 9.1            
Subordination of All Guarantor Claims. As used herein, the term “Guarantor Claims” shall mean all
debts and obligations of the Borrower or any Grantor owing to any other Grantor, whether such debts and obligations now exist or
are hereafter incurred or arise, or whether the obligation of the debtor thereon be direct, contingent, primary, secondary, several,
joint and several, or otherwise, and irrespective of whether such debts or obligations be evidenced by note, contract, open account,
or otherwise, and irrespective of the manner in which they have been or may hereafter be acquired. After the occurrence and during
the continuation of an Event of Default, no Grantor shall receive or collect, directly or indirectly, from any obligor in respect
thereof any amount on account of the Guarantor Claims.


 






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Section 9.2            
Claims in Bankruptcy. In the event of receivership, bankruptcy, reorganization, arrangement, debtor’s relief
or other insolvency proceedings involving any Grantor, the Administrative Agent on behalf of the Secured Parties shall have the
right to prove their claim in any proceeding, so as to establish their rights hereunder and receive directly from the receiver,
trustee or other court custodian payments which would otherwise be payable upon the Guarantor Claims. After the occurrence and
during the continuance of an Event of Default, each Grantor hereby assigns such payments to the Administrative Agent for the benefit
of the Secured Parties for application against the Secured Obligations as provided under Section 8.2 of the Credit Agreement.
Should the Administrative Agent or any other Secured Party receive, for application upon the Secured Obligations, any such payment
which is otherwise payable to any Grantor, and which, as between such Grantor, shall constitute a credit upon the Guarantor Claims,
then upon payment in full of the Secured Obligations (other than Hedging Obligations owed by any Loan Party to any Lender-Related
Hedge Provider, Bank Product Obligations, and indemnities and other contingent obligations not then due and payable and as to which
no claim has been made) and termination of all Commitments, the intended recipient shall become subrogated to the rights of the
Administrative Agent and the other Secured Parties to the extent that such payments to the Administrative Agent and the other Secured
Parties on the Guarantor Claims have contributed toward the liquidation of the Secured Obligations, and such subrogation shall
be with respect to that proportion of the Secured Obligations which would have been unpaid if the Administrative Agent and the
other Secured Parties had not received payments upon the Guarantor Claims.


 


Section 9.3            
Payments Held for Benefit of Administrative Agent. In the event that, notwithstanding Section 9.1 and
Section 9.2, any Grantor should receive any funds, payments, claims or distributions which are prohibited by such Sections,
then it agrees (a) to hold on behalf of and for the benefit of the Administrative Agent and the other Secured Parties an amount
equal to the amount of all funds, payments, claims or distributions so received, (b) that it shall have absolutely no dominion
over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent for the
benefit of the Secured Parties, and (c) to promptly pay the same to the Administrative Agent for the benefit of the Secured Parties.


 


Section 9.4            
Liens Subordinate.  Each Grantor agrees that, until the Termination Date, any Liens securing payment of
the Guarantor Claims shall be and remain inferior and subordinate to any Liens securing payment of the Secured Obligations, regardless
of whether such encumbrances in favor of such Grantor, the Administrative Agent or any other Secured Party presently exist or are
hereafter created or attach. Without the prior written consent of the Administrative Agent, until the Termination Date, no Grantor
shall (a) exercise or enforce any creditor’s right it may have against any debtor in respect of the Guarantor Claims, or
(b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceeding (judicial or otherwise, including,
without limitation, the commencement of or joinder in any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency
proceeding) to enforce any Lien held by it.


 


Section 9.5            
Notation of Records. Upon the request of the Administrative Agent, all promissory notes and all accounts receivable
ledgers or other evidence of the Guarantor Claims accepted by or held by any Grantor shall contain a specific written notice thereon
that the indebtedness evidenced thereby is subordinated under the terms of this Agreement.


 






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ARTICLE
X


 


Miscellaneous


 


Section 10.1        
Waiver. No failure on the part of the Administrative Agent or any other Secured Party to exercise and no delay
by any such Person in exercising, and no course of dealing with respect to, any right, remedy, power or privilege under any of
the Loan Documents shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy power or privilege
under any of the Loan Documents preclude any other or further exercise thereof or the exercise of any other right, remedy, power
or privilege. The rights, remedies, powers and privileges provided herein are cumulative and not exclusive of any rights, remedies,
powers and privileges provided by law. The exercise by the Administrative Agent of any one or more of the rights, powers and remedies
herein shall not be construed as a waiver of any other rights, powers and remedies, including, without limitation, any rights of
set-off.


 


Section 10.2        
Notices. All notices and other communications provided for herein shall be given in the manner and subject to
the terms of Section 10.1 of the Credit Agreement; provided that any such notice, request or demand to or upon any Guarantor
shall be addressed to such Guarantor at its notice address set forth on Schedule 1.


 


Section 10.3        
Payment of Expenses, Indemnities.


 


(a)               
Each Grantor agrees to pay or promptly reimburse the Administrative Agent and each other Secured Party for all documented
advances, charges, costs and expenses (including, without limitation, all documented costs and expenses of holding, preparing for
sale and selling, collecting or otherwise realizing upon the Collateral and all documented fees, disbursements, and expenses of
one outside counsel to each such party (and any required special or local counsel to each such party) and court costs) incurred
by any Secured Party in connection with the enforcement or protection of its rights in connection with this Agreement, including,
without limitation, in connection with (i) the preservation of the Lien of, or the rights of the Administrative Agent or any other
Secured Party under, this Agreement, (ii) any actual or attempted sale, lease, disposition, exchange, collection, compromise, settlement
or other realization in respect of, or care of, the Collateral, including all such costs and expenses incurred in any bankruptcy,
reorganization, workout or other similar proceeding, or (iii) collecting against such Grantor under the guarantee contained in
Article II or otherwise enforcing or preserving any rights under this Agreement and the other Loan Documents to which such
Grantor is a party.


 


(b)              
Each Grantor shall indemnify each Indemnitee against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and expenses (including the fees, disbursements, and expenses of any counsel for any Indemnitee), and shall
reimburse each Indemnitee upon demand for any legal or other expenses incurred in connection with investigating or defending any
of the following, incurred by any Indemnitee or asserted against any Indemnitee by any third party or by any Grantor or any of
their Subsidiaries or Affiliates arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement,
the performance by the parties hereto of their respective obligations hereunder or the consummation of the transactions contemplated
hereby, (ii) the Collateral (including any exercise of rights or remedies in connection therewith), or (iii) any actual or prospective
suit, claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other
theory, whether brought by a third party or by any Grantor or any Grantor’s equity holders, Affiliates or creditors, and
regardless of whether any Indemnitee or such Grantor is a party thereto; provided that such indemnity shall not, as to any
Indemnitee, be available to the extent that such losses, claims, damages, liabilities or other expenses are determined by a court
of competent jurisdiction by final and non-appealable judgment to have resulted from (x) the bad faith, gross negligence or willful
misconduct of such Indemnitee or (y) a material breach by such Indemnitee of any of its undertakings, obligations or commitments
under this Agreement.


 






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(c)               
To the extent permitted by applicable law, the Grantors shall not assert, and hereby waive, any claim against any Indemnitee,
on any theory of liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to actual or direct
damages) arising out of, in connection with or as a result of this Agreement, any other Loan Document or any agreement or instrument
contemplated hereby, the transactions contemplated therein.


 


(d)              
All amounts for which any Grantor is liable pursuant to this Section shall be due and payable by such Grantor to the Administrative
Agent or any Secured Party upon demand.


 


Section 10.4        
Amendments in Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented
or otherwise modified except in accordance with Section 10.2 of the Credit Agreement.


 


Section 10.5        
Successors and Assigns. This Agreement shall be binding upon the successors and assigns of each Grantor and shall
inure to the benefit of the Administrative Agent and the other Secured Parties and their respective successors and permitted assigns;
provided that no Grantor may assign, transfer or delegate any of its rights or Secured Obligations under this Agreement
without the prior written consent of the Administrative Agent and the Lenders.


 


Section 10.6        
Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting
the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a
particular jurisdiction shall not invalidate such provision in any other jurisdiction.


 


Section 10.7        
Counterparts.  This Agreement may be executed in any number of counterparts, all of which taken together
shall constitute one and the same instrument, and any of the parties hereto may execute this Agreement by signing any such counterpart.
Delivery of an executed counterpart to this Agreement by facsimile transmission or by electronic mail in pdf format shall be as
effective as delivery of a manually executed counterpart hereof.


 


Section 10.8        
Survival. The obligations of the parties under Section 10.3 shall survive the repayment of the Secured
Obligations and the termination of the Credit Agreement, the Letters of Credit, the Commitments, the Hedging Obligations and the
Bank Product Obligations. To the extent that any payments on the Secured Obligations or proceeds of any Collateral are subsequently
invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, debtor in possession,
receiver or other Person under any bankruptcy law, common law or equitable cause, then, to such extent, the Secured Obligations
so satisfied shall be revived and continue as if such payment or proceeds had not been received and the Administrative Agent’s
and the other Secured Parties’ Liens, security interests, rights, powers and remedies under this Agreement and each other
applicable Collateral Document shall continue in full force and effect. In such event, each applicable Collateral Document shall
be automatically reinstated and each Grantor shall take such action as may be reasonably requested by the Administrative Agent
and the other Secured Parties to effect such reinstatement.


 


Section 10.9        
Captions. Captions and section headings appearing herein are included solely for convenience of reference
and are not intended to affect the interpretation of any provision of this Agreement.


 






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Section 10.10    
No Oral Agreements. The Loan Documents embody the entire agreement and understanding between the parties and
supersede all other agreements and understandings between such parties relating to the subject matter hereof and thereof. The Loan
Documents represent 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.


 


Section 10.11    
Governing Law; Submission to Jurisdiction.


 


(a)               
This Agreement and the other Loan Documents any claims, controversy, dispute or cause of action (whether in contract or
tort or otherwise) based upon, arising out of or relating to this Agreement or any other Loan Document (except, as to any other
Loan Document, as expressly set forth therein) and the transactions contemplated hereby and thereby shall be construed in accordance
with and be governed by the law (without giving effect to the conflict of law principles thereof) of the State of New York.


 


(b)              
Each Grantor hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction
of the United States District Court for the Southern District of New York, and of the Supreme Court of the State of New York sitting
in New York county, and of any appellate court from any thereof, in any action or proceeding arising out of or relating to this
Agreement or any other Loan Document or the transactions contemplated hereby or thereby, or for recognition or enforcement of any
judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action
or proceeding may be heard and determined in such District Court or such New York state court or, to the extent permitted by applicable
law, such appellate court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement
or any other Loan Document shall affect any right that the Administrative Agent, the Issuing Bank or any Lender may otherwise have
to bring any action or proceeding relating to this Agreement or any other Loan Document against the Borrower or its properties
in the courts of any jurisdiction.


 


(c)               
Each Grantor irrevocably and unconditionally waives any objection which it may now or hereafter have to the laying
of venue of any such suit, action or proceeding described in subsection (b) of this Section and brought in any court referred to
in subsection (b) of this Section. Each of the parties hereto irrevocably waives, to the fullest extent permitted by applicable
law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.


 


(d)              
Each party to this Agreement irrevocably consents to the service of process in the manner provided for notices in Section
10.2. Nothing in this Agreement or in any other Loan Document will affect the right of any party hereto to serve process in
any other manner permitted by law.


 


Section 10.12    
WAIVER OF JURY TRIAL. EACH PARTY HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, AND (B) ACKNOWLEDGES THAT IT AND
THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.


 






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Section 10.13    
Acknowledgments.


 


(a)               
Each Grantor hereby acknowledges that:


 


(i)                
it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents
to which it is a party;


 


(ii)              
neither the Administrative Agent nor any other Secured Party has any fiduciary relationship with or duty to any Grantor
arising out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Grantors,
on the one hand, and the Administrative Agent and the other Secured Parties, on the other hand, in connection herewith or therewith
is solely that of debtor and creditor; and


 


(iii)            
no joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated
hereby among the Secured Parties or among the Grantors and the Lenders.


 


(b)              
Each of the parties hereto specifically agrees that it has a duty to read this Agreement and the other Loan Documents to
which it is a party and agrees that it is charged with notice and knowledge of the terms of this Agreement and the other Loan Documents
to which it is a party; that it has in fact read this Agreement and the other Loan Documents to which it is a party and is fully
informed and has full notice and knowledge of the terms, conditions and effects of this Agreement and the other Loan Documents
to which it is a party; that it has been represented by independent legal counsel of its choice throughout the negotiations preceding
its execution of this Agreement and the other Loan Documents to which it is party; and has received the advice of its attorney
in entering into this Agreement and the other Loan Documents to which it is a party; and that it recognizes that certain of the
terms of this Agreement and other Loan Documents to which it is a party result in one party assuming the liability inherent in
some aspects of the transaction and relieving the other party of its responsibility for such liability. Each Grantor agrees and
covenants that it will not contest the validity or enforceability of any exculpatory provision of this Agreement or the other Loan
Documents to which it is a party on the basis that such Grantor had no notice or knowledge of such provision or that the provision
is not “conspicuous”.


 


(c)               
Each Grantor warrants and agrees that each of the waivers and consents set forth in this Agreement are made voluntarily
and unconditionally after consultation with outside legal counsel and with full knowledge of their significance and consequences,
with the understanding that events giving rise to any defense or right waived may diminish, destroy or otherwise adversely affect
rights which such Grantor otherwise may have against any other Grantor, the Administrative Agent, the other Secured Parties or
any other Person or against any Collateral. If, notwithstanding the intent of the parties that the terms of this Agreement shall
control in any and all circumstances, any such waivers or consents are determined to be unenforceable under applicable law, such
waivers and consents shall be effective to the maximum extent permitted by law.


 


Section 10.14    
Additional Grantors. Each Person that is required to become a party to this Agreement pursuant to Section 5.12
of the Credit Agreement and is not a signatory hereto shall become a Grantor for all purposes of this Agreement upon execution
and delivery by such Person of a Joinder Agreement in the form of Annex I.


 






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Section 10.15    
Set-Off. Each Grantor agrees that, in addition to (and without limitation of) any right of set-off, bankers’
lien or counterclaim a Secured Party may otherwise have, each Secured Party shall have the right and be entitled (after consultation
with the Administrative Agent), at its option, to offset (i) balances held by it or by any of its Affiliates for account of any
Grantor or any of its Subsidiaries at any of its offices, in dollars or in any other currency, and (ii) Obligations then due and
payable to such Secured Party (or any Affiliate of such Secured Party), which are not paid when due, in which case it shall promptly
notify the Borrower and the Administrative Agent thereof, provided that such Secured Party’s failure to give such
notice shall not affect the validity thereof.


 


Section 10.16    
Releases.


 


(a)               
Release Upon Payment in Full. Upon the complete payment in full of all Secured Obligations (other than Hedging Obligations
owed by any Loan Party to any Lender-Related Hedge Provider, Bank Product Obligations, indemnities and other contingent obligations
not then due and payable and as to which no claim has been made, or Letters of Credit that are either Cash Collateralized or backstopped
with a letter of credit, in form and substance reasonably acceptable to the Issuing Bank) and the termination of the Credit Agreement,
the Letters of Credit (unless Cash Collateralized or backstopped with a letter of credit, in form and substance reasonably acceptable
to the applicable Issuing Bank) and all Commitments thereunder (the “Termination Date”), this Agreement shall
be of no further force and effect and the Administrative Agent, at the written request and expense of the Borrower, shall promptly
execute and deliver to such Grantor all releases or other documents and reassign, release, transfer or deliver the Collateral then
in the possession of the Administrative Agent to the Grantors, without recourse, representation, warranty or other assurance of
any kind.


 


(b)              
Further Assurances. If any of the Collateral shall be sold, transferred or otherwise disposed of by any Grantor in
a transaction permitted by the Credit Agreement, then the Administrative Agent, at the request and sole expense of such Grantor,
shall promptly execute and deliver to such Grantor all releases or other documents reasonably necessary for the release of the
Liens created hereby on such Collateral and the Capital Stock of such Grantor, made without recourse, representation, warranty
or other assurance of any kind. At the request and sole expense of the Borrower, a Grantor shall be released from its obligations
hereunder in the event that all the Capital Stock of such Grantor shall be sold, transferred or otherwise disposed of in a transaction
permitted by the Credit Agreement; provided that the Borrower shall have delivered to the Administrative Agent, at least
10 Business Days prior to the date of the proposed release, a written request for release identifying the relevant Grantor and
the terms of the sale or other disposition in reasonable detail, including the price thereof and any expenses in connection therewith,
together with a certification by the Borrower stating that such transaction is in compliance with the Credit Agreement and the
other Loan Documents.


 


(c)               
Retention in Satisfaction. Except as may be expressly applicable pursuant to Section 9-620 of the UCC, no action
taken or omission to act by the Administrative Agent or the other Secured Parties hereunder, including, without limitation, any
exercise of voting or consensual rights or any other action taken or inaction, shall be deemed to constitute a retention of the
Collateral in satisfaction of the Secured Obligations or otherwise to be in full satisfaction of the Secured Obligations, and the
Secured Obligations shall remain in full force and effect, until the Administrative Agent and the other Secured Parties shall have
applied payments (including, without limitation, collections from Collateral) towards the Secured Obligations in the full amount
then outstanding or until such subsequent time as is provided in subsection (a) of this Section.


 


Section 10.17    
Reinstatement. The obligations of each Grantor under this Agreement (including, without limitation, with respect
to the guarantee contained in Article II and the provision of collateral herein) shall continue to be effective, or be reinstated,
as the case may be, if at any time payment, or any part thereof, of any of the Obligations is rescinded or must otherwise be restored
or returned by the Administrative Agent or any other Secured Party upon the insolvency, bankruptcy, dissolution, liquidation or
reorganization of the Borrower or any other Grantor, or upon or as a result of the appointment of a receiver, intervenor or conservator
of, or trustee or similar officer for, the Borrower or any other Grantor or any substantial part of its property, or otherwise,
all as though such payments had not been made.


 






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Section 10.18    
Acceptance. Each Grantor hereby expressly waives notice of acceptance of this Agreement, acceptance on the part
of the Administrative Agent and the other Secured Parties being conclusively presumed by their request for this Agreement and delivery
of the same to the Administrative Agent.


 


Section 10.19    
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 Loan Party to honor all of such
Loan Party’s obligations under its Guarantee under the Loan Documents in respect of Swap Obligations (provided, however,
that each Qualified ECP Guarantor shall only be liable under this Section 10.19 for the maximum amount of such liability
that can be hereby incurred without rendering its obligations under this Section 10.19, or otherwise under its Guarantee,
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 10.19 shall remain in full force and effect until termination of all
Commitments and payment in full of all Obligations (other than any obligations or rights which according to the Credit Agreement
shall survive the termination of the Commitments) and the expiration or termination of all Letters of Credit (other than any Letter
of Credit for which the LC Exposure has been Cash Collateralized in accordance with the terms of the Credit Agreement or as to
which other arrangements satisfactory to the Administrative Agent and the Issuing Bank shall have been made). Each Qualified ECP
Guarantor intends that this Section 10.19 constitute, and this Section 10.19 shall be deemed to constitute, a “keepwell,
support, or other agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the
Commodity Exchange Act.


 


Section 10.20    
Relation to Other Loan Documents. The provisions of this Agreement shall be read and construed with the other
Loan Documents referred to below in the manner so indicated.


 


(a)               
Credit Agreement. In the event of any conflict between any provision in this Agreement and a provision in the Credit
Agreement, such provision of the Credit Agreement shall control.


 


(b)              
Patent, Trademark, Copyright Security Agreements. The provisions of any Intellectual Property Security Agreement
are supplemental to the provisions of this Agreement, and nothing contained in any Intellectual Property Security Agreement shall
limit any of the rights or remedies of Administrative Agent hereunder.


 


Section 10.21    
Intercreditor Agreement. Notwithstanding anything herein to the contrary, each Grantor and the Administrative
Agent (on behalf of each Secured Party) agrees that the Lien and security interest granted to the Administrative Agent pursuant
to this Agreement and the exercise of any right or remedy by the Administrative Agent hereunder, after the execution and delivery
thereof, are subject to the provisions of the ABDC Intercreditor Agreement and each other intercreditor agreement entered into
by the Administrative Agent with respect to the Secured Obligations. In the event of any conflict between the terms of the ABDC
Intercreditor Agreement or any other intercreditor agreement entered into by the Administrative Agent with respect to the Secured
Obligations and the terms of this Agreement (other than Article II hereof), the terms of the ABDC Intercreditor Agreement or such
other intercreditor agreement shall govern and control at any time that the ABDC Intercreditor Agreement or such other intercreditor
agreement is in effect. Notwithstanding anything to the contrary contained herein, the Administrative Agent acknowledges and agrees
that no Grantor shall be required to take or refrain from taking any action at the request of the Administrative Agent with respect
to the Collateral if such action or inaction would be inconsistent with the terms of the ABDC Intercreditor Agreement or other
intercreditor agreement entered into by the Administrative Agent with respect to the Secured Obligations.


 


 






    	32



    	 



    

 


[THE REMAINDER OF THIS PAGE IS INTENTIONALLY
LEFT BLANK.]


 






    	33



    	 



    

 





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


 


	 	BORROWER:
	 	 
	 	BIOSCRIP, INC.
	 	 
	 	By:  	/s/ Kimberlee C. Seah
	 	 	Name: 	Kimberlee C. Seah
	 	 	Title: 	Senior Vice President, Secretary and General Counsel




 






    	 



    	 



    

 


	 	 	GUARANTORS:
	 	 	 
	BIOSCRIP, INC.	 	APPLIED HEALTH CARE, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	BIOSCRIP INFUSION MANAGEMENT, LLC	 	BIOSCRIP INFUSION SERVICES, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	BIOSCRIP INFUSION SERVICES, LLC	 	BIOSCRIP
    Medical Supply SERVICES, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	BIOSCRIP NURSING SERVICES, LLC	 	BIOSCRIP PBM SERVICES, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	BIOSCRIP PHARMACY (NY), INC.	 	BIOSCRIP PHARMACY (PUERTO RICO), INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	BIOSCRIP PHARMACY SERVICES, INC.	 	BIOSCRIP PHARMACY, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel




 






    	 



    	 



    

 


	BRADHURST SPECIALTY PHARMACY, INC.	 	CEDAR CREEK HOME HEALTH CARE AGENCY, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	CHRONIMED, LLC	 	CHS HOLDINGS, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	CRITICAL HOMECARE SOLUTIONS, INC.	 	DEACONESS ENTERPRISES, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	DEACONESS HOMECARE, LLC	 	EAST GOSHEN PHARMACY, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	ELK VALLEY HEALTH SERVICES, LLC	 	ELK VALLEY HOME HEALTH CARE AGENCY, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	ELK VALLEY PROFESSIONAL AFFILIATES, INC.	 	GERICARE, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	HOMECHOICE PARTNERS, INC.	 	INFUCENTERS, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel



 






    	 



    	 



    

 


	INFUSAL PARTNERS	 	INFUSCIENCE HHA, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	INFUSCIENCE, INC.	 	INFUSCIENCE SOUTH CAROLINA, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	INFUSCIENCE SUB, INC.	 	INFUSION PARTNERS, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	INFUSION PARTNERS OF BRUNSWICK, LLC	 	INFUSION PARTNERS OF MELBOURNE, LLC
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	INFUSION SOLUTIONS, INC.	 	INFUSION THERAPY SPECIALISTS, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	KNOXVILLE HOME THERAPIES, LLC	 	NATIONAL HEALTH INFUSION, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	NATURAL LIVING, INC.	 	NEW ENGLAND HOME THERAPIES, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel



 






    	 



    	 



    

 


	OPTION HEALTH, LTD.	 	PROFESSIONAL HOME CARE SERVICES, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	REGIONAL AMBULATORY DIAGNOSTICS, INC.	 	SCOTT-WILSON, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	SOUTH MISSISSIPPI HOME HEALTH, INC.	 	SOUTH MISSISSIPPI HOME HEALTH, INC. - REGION I
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	SOUTH MISSISSIPPI HOME HEALTH, INC. – REGION II	 	SOUTH MISSISSIPPI HOME HEALTH, INC. – REGION III
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	SPECIALTY PHARMA, INC.	 	WILCOX MEDICAL, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel
	 	 	 
	NUTRI USA INC.	 	PHCS ACQUISITION CO, INC.
	 	 	 
	By:	/s/ Kimberlee C. Seah	 	By:	/s/ Kimberlee C. Seah
	 	Name: Kimberlee C. Seah	 	 	Name: Kimberlee C. Seah
	 	Title: Senior Vice President, Secretary andGeneral Counsel	 	 	Title: Senior Vice President, Secretary andGeneral Counsel



 










    	 



    	 



    

 





Acknowledged and Agreed to as of the date
hereof:


 


ADMINISTRATIVE AGENT:


 


	SUNTRUST BANK
	 	 
	By:   	/s/ Ben Cumming____
	 	Name: Ben Cumming
	 	Title: Director




 







    	 



    	 



    

 


ANNEX I


 


Form of Joinder Agreement


 


THIS JOINDER AGREEMENT,
dated as of [_____] (this “Joinder Agreement”), is made by [name
of new Subsidiary], a [__________] (the “Additional Grantor”), in favor of SUNTRUST BANK,
as administrative agent (in such capacity, together with its successors and assigns, the “Administrative Agent”)
for the Secured Parties (as defined in the Guaranty and Security Agreement referred to below). All capitalized terms not defined
herein shall have the meanings assigned to them in the Guaranty and Security Agreement.


 


WHEREAS, BioScrip,
Inc., a Delaware corporation (the “Borrower”) has entered into that certain Credit Agreement dated as of July
31, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
by and among the Borrower, the several banks and other financial institutions and lenders from time to time party thereto, and
the Administrative Agent, providing for, among other things, revolving credit and term loan facilities subject to the terms set
forth therein;


 


WHEREAS, in
connection with the Credit Agreement, the Borrower and certain of its Subsidiaries have entered into that certain Guaranty and
Security Agreement dated as of July 31, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the “Guaranty
and Security Agreement”), in favor of the Administrative Agent for the benefit of the Secured Parties;


 


WHEREAS, the
Credit Agreement requires the Additional Grantor to become a party to the Guaranty and Security Agreement; and


 


WHEREAS, the
Additional Grantor has agreed to execute and deliver this Joinder Agreement in order to become a party to the Guaranty and Security
Agreement;


 


NOW, THEREFORE,
it is agreed:


 


SECTION 1. Guaranty
and Security Agreement. By executing and delivering this Joinder Agreement, the Additional Grantor, as provided in Section
10.14 of the Guaranty and Security Agreement, hereby becomes a party to the Guaranty and Security Agreement as a Grantor thereunder
with the same force and effect as if originally named therein as a Grantor and, without limiting the generality of the foregoing,
hereby expressly assumes all obligations and liabilities of a Grantor thereunder and hereby pledges and grants to the Administrative
Agent, for the ratable benefit of the Secured Parties, a security interest in and lien on all right, title and interest of the
Additional Grantor in all property of such Additional Grantor that constitutes Collateral, wherever located and whether now owned
or at any time hereafter acquired by the Additional Grantor, or in which the Additional Grantor now has or at any time in the future
may acquire any right, title or interest and whether now existing or hereafter coming into existence, as collateral security for
the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the
Secured Obligations (other than any Excluded Swap Obligation with respect to such Grantor). The information set forth in Schedule
A hereto is hereby added to the information set forth in Schedules 1 through 9 to the Guaranty and Security Agreement and the
Additional Grantor represents and warrants that all information set forth on Schedule A is true, correct and complete in
all respects as of the date hereof. The Additional Grantor hereby represents and warrants that each of the representations and
warranties contained in Article V of the Guaranty and Security Agreement is true and correct in all material respects (or if already
qualified by materiality or Material Adverse Effect, in all respects) on and as of the date hereof (after giving effect to this
Joinder Agreement) as if made by such Additional Grantor on and as of the date hereof. Not in limitation of the foregoing, the
Additional Grantor hereby confirms that by execution of this Joinder Agreement, it is jointly and severally liable with the other
Guarantors for all Guaranteed Obligations (other than any Excluded Swap Obligation with respect to such Grantor), whether now existing
or hereafter arising, in accordance with and subject to the terms of the Guaranty and Security Agreement. Each reference to a “Grantor”
or a “Guarantor” in the Guaranty and Security Agreement shall be deemed to include the Additional Grantor.


 






    	 



    	 



    

 


SECTION 2. Governing
Law. THIS JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE
OF NEW YORK (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF).


 


SECTION 3. Acknowledgement.
The Additional Grantor acknowledges and confirms that it has received a copy of the Credit Agreement, the Guaranty and Security
Agreement, and the other Loan Documents and, in each case, all schedules and exhibits thereto.


 


SECTION 4. Further
Assurances. The Additional Grantor 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 Agreement in accordance with and subject to the terms of the Guaranty and
Security Agreement.


 


SECTION 5. Counterparts.
This Joinder Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and
the same instrument, and any of the parties hereto may execute this Joinder Agreement by signing any such counterpart. Delivery
of an executed counterpart to this Joinder Agreement by facsimile transmission or by electronic mail in pdf format shall be as
effective as delivery of a manually executed counterpart hereof.


 


SECTION 6. Loan
Document. Except as expressly supplemented hereby, the Loan Documents shall remain in full force and effect. For avoidance
of doubt, the Additional Grantor and the Administrative Agent hereby acknowledge and agree that this Joinder Agreement is a Loan
Document.


 


[THE REMAINDER OF THIS PAGE IS INTENTIONALLY
LEFT BLANK.]


 






    	Annex I



    	 



    

 





IN WITNESS WHEREOF,
the undersigned has caused this Joinder Agreement to be duly executed and delivered as of the date first above written.


 


	 	 	[NAME OF ADDITIONAL GRANTOR]
	 	 	 	 
	 	 	By:	 
	 	 	 	Name:
	 	 	 	Title:
	 	 	 	 
	Acknowledged and Agreed to as of the date hereof:	 	 
	 	 	 	 
	ADMINISTRATIVE AGENT:	 	 
	 	 	 	 
	SUNTRUST BANK	 	 
	 	 	 	 
	By:	 	 	 
	 	Name:	 	 
	 	Title:	 	 




 






    	 



    	 



    

 





SCHEDULE A


 


Supplement to Schedules of


Guaranty
and Security Agreement


 






    	Annex I



    	 



    

 





ANNEX II


 


Form of Intellectual Property Security
Agreement


 


THIS [COPYRIGHT][PATENT][TRADEMARK]
SECURITY AGREEMENT, dated as of [_____] (this “Security Agreement”), is made by [name
of Grantor], a [__________] (the “Grantor”), in favor of SunTrust
Bank, as administrative agent (in such capacity, together with its successors and assigns, the “Administrative
Agent”) for the Secured Parties (as defined in the Guaranty and Security Agreement referred to below).


 


WHEREAS, BioScrip,
Inc., a Delaware corporation (the “Borrower”) has entered into that certain Credit Agreement dated as of July
31, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
by and among the Borrower the several banks and other financial institutions and lenders from time to time party thereto, and the
Administrative Agent, providing for, among other things, revolving credit and term loan facilities subject to the terms set forth
therein;


 


WHEREAS, in
connection with the Credit Agreement, the Borrower and certain of its Subsidiaries have entered into that certain Guaranty and
Security Agreement dated as of July 31, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the “Guaranty
and Security Agreement”), in favor of the Administrative Agent for the benefit of the Secured Parties; and


 


WHEREAS, the
Guaranty and Security Agreement requires the Grantor to execute and deliver this Security Agreement;


 


NOW, THEREFORE,
in consideration of the premises and in order to ensure compliance with the Credit Agreement, the Grantor hereby agrees as follows:


 


SECTION 1.Defined
Terms. Capitalized terms used herein without definition are used as defined in the Guaranty and Security Agreement.


 


SECTION 2.Grant
of Security Interest in [Copyright][Patent][Trademark] Collateral. The Grantor, as collateral security for the prompt and
complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Secured Obligations
(other than any Excluded Hedging Obligation with respect to such Grantor), hereby pledges and grants to the Administrative Agent,
for the ratable benefit of the Secured Parties, a security interest in and lien on all right, title and interest of the Grantor
in, to and under the following Collateral (the “[Copyright][Patent][Trademark] Collateral”):


 


[(a)all of its
Copyrights and all Copyright Licenses;


 


(b)all renewals,
reversions and extensions of the foregoing; and


 


(c)all income,
royalties, proceeds and liabilities at any time due or payable or asserted under and with respect to any of the foregoing, including,
without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement, misappropriation,
dilution, violation or other impairment thereof.]


 


[(a)all of its Patents and all Patent
Licenses;


 






    	 



    	 



    

 


(b)all reissues,
reexaminations, continuations, continuations-in-part, divisions, renewals and extensions of the foregoing; and


 


(c)all income,
royalties, proceeds and liabilities at any time due or payable or asserted under and with respect to any of the foregoing, including,
without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement, misappropriation,
dilution, violation or other impairment thereof.]


 


[(a)all of its
Trademarks and all Trademark Licenses;


 


(b)all renewals
and extensions of the foregoing;


 


(c)all goodwill
of the business connected with the use of, and symbolized by, each such Trademark; and


 


(d)all income,
royalties, proceeds and liabilities at any time due or payable or asserted under and with respect to any of the foregoing, including,
without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement, misappropriation,
dilution, violation or other impairment thereof.]


 


As of the date of this
Security Agreement, all of the Grantor’s [Copyright][Patent][Trademark] Collateral is set forth on Schedule I hereto.


 


SECTION 3.Guaranty
and Security Agreement. The security interest granted pursuant to this Security Agreement is granted in conjunction with
the security interest granted to the Administrative Agent pursuant to the Guaranty and Security Agreement, and the Grantor hereby
acknowledges and agrees that the rights and remedies of the Administrative Agent with respect to the security interest in the [Copyright][Patent][Trademark]
Collateral made and granted hereby are more fully set forth in the Guaranty and Security Agreement, the terms and provisions of
which are incorporated by reference herein as if fully set forth herein. In the event of any conflict or inconsistency between
this Security Agreement and the Guaranty and Security Agreement (or any portion hereof or thereof), the terms of the Guaranty and
Security Agreement shall prevail.


 


SECTION 4.Termination.
This Security Agreement shall terminate and the Lien on and security interest in the [Copyright] [Patent] [Trademark] Collateral
shall be released in accordance with Section 10.16 of the Guaranty and Security Agreement. Upon the termination of this Security
Agreement, the Administrative Agent shall, at the sole cost and expense of the Loan Parties, promptly execute all documents, make
all filings, take all other actions reasonably requested by the Grantors to evidence and record the release of the Lien on and
security interests in the [Copyright] [Patent] [Trademark] Collateral granted herein.


 


SECTION 5.Grantor
Remains Liable. The Grantor hereby agrees that, anything herein to the contrary notwithstanding, the Grantor shall retain
full and complete responsibility for the prosecution, defense, enforcement or any other necessary or desirable actions in connection
with its [Copyrights][Patents][Trademarks] and [Copyright][Patent][Trademark] Licenses subject to a security interest hereunder.


 


SECTION 6.Governing
Law. THIS SECURITY AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE
OF NEW YORK (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF).


 






    	Annex II



    	 



    

 


SECTION 7.Counterparts.
This Security Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the
same instrument, and any of the parties hereto may execute this Security Agreement by signing any such counterpart. Delivery of
an executed counterpart to this Security Agreement by facsimile transmission or by electronic mail in pdf format shall be as effective
as delivery of a manually executed counterpart hereof.


 


SECTION 8.Loan
Document.  For avoidance of doubt, the Grantor and the Administrative Agent hereby acknowledge and agree that this Security
Agreement is a Loan Document.


 


[THE REMAINDER OF THIS PAGE IS INTENTIONALLY
LEFT BLANK.]


  






    	Annex I



    	 



    

 





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


 


	 	 	[NAME OF ADDITIONAL GRANTOR]
	 	 	 	 
	 	 	By:	 
	 	 	 	Name:
	 	 	 	Title:
	 	 	 	 
	Acknowledged and Agreed to as of the date hereof:	 	 
	 	 	 	 
	ADMINISTRATIVE AGENT:	 	 
	 	 	 	 
	SUNTRUST BANK	 	 
	 	 	 	 
	By:	 	 	 
	 	Name:	 	 
	 	Title:	 	 


 






    	Annex II



    	 



    

 





SCHEDULE I


 


[Copyrights][Patents][Trademarks]
and [Copyright][Patent][Trademark] Licenses


 


		I.	REGISTERED [COPYRIGHTS][PATENTS][TRADEMARKS]



 


[Include registration number and date]


 


		II.	[COPYRIGHT][PATENT][TRADEMARK] APPLICATIONS



 


[Include application number and date]


 


		III.	[COPYRIGHT][PATENT][TRADEMARK] LICENSES



 


[Include complete legal description of agreement (name
of agreement, parties and date)]


 






    	 



    	 



    

 





ANNEX III


 


Form of Acknowledgment and Consent


 


The undersigned hereby
acknowledges receipt of a copy of that certain Guaranty and Security Agreement, dated as of July 31, 2013 (as amended, restated,
supplemented or otherwise modified from time to time, the “Agreement”), made by BIOSCRIP, INC., a Delaware corporation
and the other Grantors party thereto for the benefit of SUNTRUST BANK, as administrative agent (in such capacity, together with
its successors and assigns, the “Administrative Agent”). The undersigned agrees for the benefit of the Administrative
Agent and the Secured Parties defined therein as follows:


 


1.The undersigned
will be bound by the terms of the Agreement relating to the Pledged Securities issued by the undersigned and will comply with such
terms insofar as such terms are applicable to the undersigned.


 


2.The terms of
Sections 7.1(c) and 7.5 of the Agreement shall apply to it, mutatis mutandis, with respect to all actions that may be required
of it pursuant to Sections 7.1(c) or 7.5 of the Agreement with respect to the Pledged Securities issued by the undersigned.


 


	 	[NAME OF ISSUER]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	Address for Notices:
	 	[_____]
	 	[_____]
	 	Attention: [_____]
	 	Telecopy Number: [_____]