Exhibit
4.2


 


Execution
Version


  


SECOND
AMENDED AND RESTATED


 


CREDIT
AND GUARANTY AGREEMENT


 


dated
as of April 20, 2018


 


among


 


MERIDIAN
WASTE OPERATIONS, INC.,


MOBILE
SCIENCE TECHNOLOGIES, INC.,


ATTIS
HEALTHCARE, LLC,


ADVANCED
LIGNIN BIOCOMPOSITES LLC,


INTEGRITY
LAB SOLUTIONS, LLC,


RED
X MEDICAL LLC,


WELNESS
BENEFITS, LLC,


LGMG,
LLC,


ATTIS
INNOVATIONS, LLC,


ATTIS
ENVICARE MEDICAL WASTE, LLC, 


ATTIS
GENETICS, LLC,


ATTIS
FEDERAL LABS, LLC,


and


ATTIS
COMMERCIAL LABS, LLC,


as
Companies


 


MERIDIAN
WASTE SOLUTIONS, INC.,


as
Holdings,


 


VARIOUS
LENDERS


 


and


 


GOLDMAN
SACHS SPECIALTY LENDING GROUP, L.P.


as
Administrative Agent, Collateral Agent, and Sole Lead Arranger


 





 



 


$8,158,333.79
Senior Secured Credit Facilities


 





 









 






     


     


    

 


TABLE
OF CONTENTS


 


	 	 	Page
	SECTION
    1. DEFINITIONS AND INTERPRETATION	2
	 	1.1.
    Definitions	2
	 	1.2.
    Accounting Terms	30
	 	1.3.
    Interpretation, etc.	30
	 	 	 
	SECTION
    2. LOANS	31
	 	2.1.
    Term Loans.	31
	 	2.2.
    Reserved	31
	 	2.3.
    Reserved.	31
	 	2.4.
    Reserved.	31
	 	2.5.
    Use of Proceeds	31
	 	2.6.
    Evidence of Debt; Register; Lenders’ Books and Records; Notes.	32
	 	2.7.
    Interest on Loans.	32
	 	2.8.
    Conversion/Continuation.	33
	 	2.9.
    Default Interest	34
	 	2.10.
    Fees.	34
	 	2.11.
    Scheduled Payments.	34
	 	2.12.
    Voluntary Prepayments/Commitment Reductions.	35
	 	2.13.
    Mandatory Prepayments/Commitment Reductions.	36
	 	2.14.
    Application of Prepayments/Reductions.	38
	 	2.15.
    General Provisions Regarding Payments.	39
	 	2.16.
    Ratable Sharing	40
	 	2.17.
    Making or Maintaining LIBOR Rate Loans.	41
	 	2.18.
    Increased Costs; Capital Adequacy.	43
	 	2.19.
    Taxes; Withholding, etc.	44
	 	2.20.
    Obligation to Mitigate	45
	 	2.21.
    Defaulting Lenders	46
	 	2.22.
    Removal or Replacement of a Lender	46
	 	 	
	SECTION
    3. CONDITIONS PRECEDENT	47
	 	3.1.
    Restatement Date	47
	 	3.2.
    Reserved.	50
	 	3.3.
    Conditions Subsequent to the Restatement Date	50
	 	 	 
	SECTION
    4. REPRESENTATIONS AND WARRANTIES	51
	 	4.1.
    Organization; Requisite Power and Authority; Qualification	51
	 	4.2.
    Capital Stock and Ownership	51
	 	4.3.
    Due Authorization	51
	 	4.4.
    No Conflict	51
	 	4.5.
    Governmental Consents	52
	 	4.6.
    Binding Obligation	52
	 	4.7.
    Contingent Liabilities	52
	 	4.8.
    Projections	52
	 	4.9.
    No Material Adverse Change	52



 






    	i 



     


    

 


	 	4.10.
    No Restricted Junior Payments	53
	 	4.11.
    Adverse Proceedings, etc.	53
	 	4.12.
    Payment of Taxes	53
	 	4.13.
    Properties.	53
	 	4.14.
    Environmental Matters	54
	 	4.15.
    No Defaults	54
	 	4.16.
    Material Contracts	54
	 	4.17.
    Governmental Regulation	55
	 	4.18.
    Margin Stock	55
	 	4.19.
    Employee Matters	55
	 	4.20.
    Employee Benefit Plans	55
	 	4.21.
    Certain Fees	56
	 	4.22.
    Solvency	56
	 	4.23.
    Related Agreements.	56
	 	4.24.
    Compliance with Statutes, Franchises, Permits, etc.	56
	 	4.25.
    Disclosure	56
	 	4.26.
    Patriot Act	57
	 	 	 
	SECTION
    5. AFFIRMATIVE COVENANTS	58
	 	5.1.
    Financial Statements and Other Reports	58
	 	5.2.
    Existence	62
	 	5.3.
    Payment of Taxes and Claims	62
	 	5.4.
    Maintenance of Properties	63
	 	5.5.
    Insurance	63
	 	5.6.
    Inspections	63
	 	5.7.
    Lenders Meetings	63
	 	5.8.
    Compliance with Laws	63
	 	5.9.
    Environmental.	64
	 	5.10.
    Subsidiaries	65
	 	5.11.
    Additional Material Real Estate Assets	65
	 	5.12.
    Reserved	66
	 	5.13.
    Further Assurances	66
	 	5.14.
    Miscellaneous Business Covenants	66
	 	5.15.
    Post Closing Matters	67
	 	 	 
	SECTION
    6. NEGATIVE COVENANTS	67
	 	6.1.
    Indebtedness	67
	 	6.2.
    Liens	69
	 	6.3.
    Equitable Lien	70
	 	6.4.
    No Further Negative Pledges	70
	 	6.5.
    Restricted Junior Payments	71
	 	6.6.
    Restrictions on Subsidiary Distributions	71
	 	6.7.
    Investments	71
	 	6.8.
    Financial Covenants.	72
	 	6.9.
    Fundamental Changes; Disposition of Assets; Acquisitions	73
	 	6.10.
    Disposal of Subsidiary Interests	74



 






    	ii 



     


    

 


	 	6.11.
    Sales and Lease-Backs	74
	 	6.12.
    Transactions with Shareholders and Affiliates	74
	 	6.13.
    Conduct of Business; Foreign Subsidiaries	75
	 	6.14.
    Permitted Activities of Holdings	75
	 	6.15.
    Amendments or Waivers of Certain Related Agreements	75
	 	6.17.
    Fiscal Year	75
	 	6.18.
    Deposit Accounts	76
	 	6.19.
    Amendments to Organizational Agreements and Material Contracts	76
	 	6.20.
    Prepayments of Certain Indebtedness	76
	 	 	 
	SECTION
    7. GUARANTY	76
	 	7.1.
    Guaranty of the Obligations	76
	 	7.2.
    Contribution by Credit Parties	77
	 	7.3.
    Payment by Credit Parties	77
	 	7.4.
    Liability of Credit Parties Absolute	78
	 	7.5.
    Waivers by Credit Parties	79
	 	7.6.
    Credit Parties’ Rights of Subrogation, Contribution, etc.	80
	 	7.7.
    Subordination of Other Obligations	80
	 	7.8.
    Continuing Guaranty	80
	 	7.9.
    Authority of Credit Parties	80
	 	7.10.
    Financial Condition of Credit Parties	81
	 	7.11.
    Bankruptcy, etc.	81
	 	7.12.
    Discharge of Guaranty Upon Sale of Guarantor	82
	 	7.13.
    Qualified ECP Credit Party.	82
	 	 	 
	SECTION
    8. EVENTS OF DEFAULT	82
	 	8.1.
    Events of Default	82
	 	 	 
	SECTION
    9. AGENTS	85
	 	9.1.
    Appointment of Agents	85
	 	9.2.
    Powers and Duties	85
	 	9.3.
    General Immunity.	85
	 	9.4.
    Agents Entitled to Act as Lender	86
	 	9.5.
    Lenders’ Representations, Warranties and Acknowledgment	87
	 	9.6.
    Right to Indemnity	87
	 	9.7.
    Successor Administrative Agent and Collateral Agent.	88
	 	9.8.
    Collateral Documents and Guaranty.	88
	 	 	 
	SECTION
    10. MISCELLANEOUS	89
	 	10.1.
    Notices	89
	 	10.2.
    Expenses	89
	 	10.3.
    Indemnity.	90
	 	10.4.
    Set-Off	90
	 	10.5.
    Amendments and Waivers.	90
	 	10.6.
    Successors and Assigns; Participations.	92
	 	10.7.
    Independence of Covenants	95
	 	10.8.
    Survival of Representations, Warranties and Agreements	95
	 	10.9.
    No Waiver; Remedies Cumulative	95
	 	10.10.
    Marshalling; Payments Set Aside	95
	 	10.11.
    Severability	96
	 	10.12.
    Obligations Several; Actions in Concert	96
	 	10.13.
    Headings	96
	 	10.14.
    APPLICABLE LAW	96
	 	10.15.
    CONSENT TO JURISDICTION	96
	 	10.16.
    WAIVER OF JURY TRIAL	97
	 	10.17.
    Confidentiality	97
	 	10.18.
    Usury Savings Clause	97
	 	10.19.
    Counterparts	98
	 	10.20.
    Effectiveness	98
	 	10.21.
    Patriot Act	98
	 	10.22.
    Amendment and Restatement.	98


 






    	iii 



     


    

 


	APPENDICES:	B	Notice
    Addresses
	 	 	 
	SCHEDULES:	1.1(a)   	Non-Management
    Shareholders
	 	1.1(b)	Certain
    Material Real Estate Assets
	 	4.1	Jurisdictions
    of Organization and Qualification
	 	4.2	Capital
    Stock and Ownership
	 	4.13	Real
    Estate Assets
	 	4.16	Material
    Contracts
	 	5.15	Certain
    Post Closing Matters
	 	6.1	Certain
    Indebtedness
	 	6.2	Certain
    Liens
	 	6.7	Certain
    Investments
	 	6.12	Certain
    Affiliate Transactions
	 	10.22	Specified
    Events of Default
	 	 	 
	EXHIBITS:	A-1	Funding
    Notice
	 	A-2	Conversion/Continuation
    Notice
	 	B-1	Term
    Loan Note
	 	C	Compliance
    Certificate
	 	D	[Reserved]
	 	E	Assignment
    Agreement
	 	F	Certificate
    Regarding Non-bank Status
	 	G-1	Restatement
    Date Certificate
	 	G-2	Solvency
    Certificate
	 	H	Counterpart
    Agreement
	 	I	Pledge
    and Security Agreement
	 	J	Mortgage
	 	K	Landlord
    Collateral Access Agreement





 






    	iv 



     


    

 


SECOND
AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT


 


This
SECOND AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT, dated as of April 20, 2018, is entered into by and among MERIDIAN
WASTE OPERATIONS, INC., a New York corporation (“Operations”), MOBILE SCIENCE TECHNOLOGIES, INC.,
a Georgia corporation (“Mobile”), ATTIS HEALTHCARE, LLC, a South Carolina limited liability company
(“Healthcare”), INTEGRITY LAB SOLUTIONS, LLC, an Oklahoma limited liability company (“Integrity”),
RED X MEDICAL LLC, a Georgia limited liability company (“Red X”), WELNESS BENEFITS, LLC, an Oklahoma
limited liability company (“Welness”), LGMG, LLC, an Oklahoma limited liability company (“LGMG”),
ATTIS INNOVATIONS, LLC, a Georgia limited liability company (“Innovations”), and ADVANCED LIGNIN
BIOCOMPOSITES LLC, a Minnesota limited liability company (“Advanced Lignin”), ATTIS ENVICARE MEDICAL
WASTE, LLC, a Georgia limited liability company (“Envicare”), ATTIS GENETICS, LLC, a Georgia limited liability
company (“Genetics”), ATTIS FEDERAL LABS, LLC, an Oklahoma limited liability company (“Federal Labs”),
ATTIS COMMERCIAL LABS, LLC, an Oklahoma limited liability company (“Commercial Labs”, and together with
Operations, Mobile, Healthcare, Integrity, Red X, Welness, LGMG, Innovations, Advanced Lignin, Envicare, Genetics, and Federal
Labs the “Companies” and each, a “Company”), MERIDIAN WASTE SOLUTIONS, INC., a New
York corporation (“Holdings”) and CERTAIN SUBSIDIARIES OF HOLDINGS, as Guarantors, the Lenders party
hereto from time to time and GOLDMAN SACHS SPECIALTY LENDING GROUP, L.P. (“GSSLG”), as Administrative
Agent (in such capacity, “Administrative Agent”), Collateral Agent (in such capacity, “Collateral
Agent”), and Lead Arranger.


 


RECITALS:


 


WHEREAS,
capitalized terms used in these Recitals shall have the respective meanings set forth for such terms in Section 1.1 hereof;


 


WHEREAS,
pursuant to that certain Credit and Guaranty Agreement, dated as of December 22, 2015, by and among certain Companies, Holdings,
the other Credit Parties and other borrowers party thereto, the lenders party thereto and GSSLG as Administrative Agent, Collateral
Agent and Lead Arranger (as amended, restated, supplemented or otherwise modified prior to February 15, 2017, the “Original
Credit Agreement”), the Lenders extended certain credit facilities to certain of the Companies and other borrowers party
thereto;


 


WHEREAS,
pursuant to that certain Amended and Restated Credit and Guaranty Agreement, dated as of February 15, 2017, by and among certain
Companies, Holdings, the other Credit Parties and other borrowers party thereto, the lenders party thereto from time to time thereto
and GSSLG as Administrative Agent, Collateral Agent and Lead Arranger (as amended, restated, supplemented or otherwise modified
prior to the date hereof, the “Prior Credit Agreement”), the Lenders increased the credit facilities to an
aggregate amount equal to $89,100,000;


 


WHEREAS,
Companies have requested that Administrative Agent and the Lenders amend and restate the Prior Credit Agreement in the form
of this Agreement and make certain other modifications as set forth herein, and, subject to the terms and conditions set forth
herein, the Lenders are willing to do so; and


 






     


     


    

 


NOW,
THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto
agree that the Prior Credit Agreement is amended and restated as follows:


 


SECTION
1. DEFINITIONS AND INTERPRETATION


 


1.1.
Definitions. The following terms used herein, including in the preamble, recitals, exhibits and schedules hereto, shall have
the following meanings:


 


“Accounts”
means all “accounts” (as defined in the UCC) of Holdings and its Subsidiaries (or, if referring to another Person,
of such Person), including, without limitation, accounts, accounts receivable, monies due or to become due and obligations in
any form (whether arising in connection with contracts, contract rights, instruments, general intangibles, or chattel paper),
in each case whether arising out of goods sold or services rendered or from any other transaction and whether or not earned by
performance, now or hereafter in existence, and all documents of title or other documents representing any of the foregoing, and
all collateral security and guaranties of any kind, now or hereafter in existence, given by any Person with respect to any of
the foregoing.


 


“Act”
as defined in Section 4.26.


 


“Adjusted
LIBOR Rate” means, for any Interest Rate Determination Date with respect to an Interest Period for a LIBOR Rate Loan,
the greater of (i) the rate per annum obtained by dividing (a) (1) the rate per annum equal to the rate determined by Administrative
Agent to be the London interbank offered rate administered by the ICE Benchmark Administration (or any other Person that takes
over the administration of that rate) for deposits (for delivery on the first day of such period) with a term equivalent to such
period in Dollars displayed on the ICE LIBOR USD page of the Reuters Screen (or any replacement Reuters page that displays such
rate) or on the appropriate page of any other information service that publishes that rate from time to time in place of Reuters,
determined as of approximately 11:00 a.m. (London, England time) on such Interest Rate Determination Date (the rate referenced
in this clause (1), the “Eurodollar Screen Rate”), or (2) in the event the Eurodollar Screen Rate is not available,
the rate per annum equal to the offered rate, truncated at five decimal digits, that is set forth on or in such other available
quotation page or service as is acceptable to Administrative Agent in its sole discretion and that provides an average ICE Benchmark
Administration Limited Interest Settlement Rate or another London interbank offered rate administered by any other Person that
takes over the administration of such rate for deposits (for delivery on the first day of the relevant period) with a term equivalent
to such period in Dollars, determined as of approximately 11:00 a.m. (London, England time) on such Interest Rate Determination
Date, or (3) in the event the rates referenced in the preceding clauses (1) and (2) are not available or if such information,
in the reasonable judgment of Administrative Agent shall cease to accurately reflect the rate offered by leading banks in the
London interbank market as reported by any publicly available source of similar market data selected by Administrative Agent,
the rate per annum equal to the rate determined by Administrative Agent to be the offered rate, truncated at five decimal digits,
to first class banks in the London interbank market for deposits (for delivery on the first day of the relevant period) with a
term equivalent to such Interest Period in Dollars, determined as of approximately 11:00 a.m. (London, England time) on such Interest
Rate Determination Date, by (b) an amount equal to (1) one, minus (2) the Applicable Reserve Requirement or (ii) 1.00% per annum.


 






    	 	2	 



     


    

 


Notwithstanding
anything contained herein to the contrary, and without limiting the provisions of Section 2.17 (Making or Maintaining LIBOR Rate
Loans), in the event that the Administrative Agent shall have determined (which determination shall be final and conclusive and
binding upon all parties hereto) that there exists, at such time, a broadly accepted market convention for determining a rate
of interest for syndicated loans in the United States in lieu of the Eurodollar Screen Rate, and the Administrative Agent shall
have given notice of such determination to Company Representative and each Lender (it being understood that the Administrative
Agent shall have no obligation to make such determination and/or to give such notice), then the Administrative Agent and Company
Representative shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related
changes to this Agreement as may be applicable. Notwithstanding anything to the contrary in Section 10.5 (Amendments and Waivers),
such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the
Lenders shall have received at least five Business Days’ prior written notice thereof and the Administrative Agent shall
not have received, within five Business Days of the date of such notice to the Lenders, a written notice from the Required Lenders
stating that the Required Lenders object to such amendment. Until an alternate rate of interest shall be determined in accordance
with this paragraph (but only to the extent the Eurodollar Screen Rate for the applicable Interest Period is not available or
published at such time on a current basis), (x) no Loans may be made as, or converted to, LIBOR Rate Loans, and (y) any Funding
Notice or Conversion/Continuation Notice given by Company Representative with respect to LIBOR Rate Loans shall be deemed to be
rescinded by Company Representative.


 


“Adjustment
Event” as defined in the definition of Applicable Margin.


 


“Administrative
Agent” as defined in the preamble hereto.


 


“Adverse
Proceeding” means any action, suit, proceeding (whether administrative, judicial or otherwise), governmental investigation
or arbitration (whether or not purportedly on behalf of Holdings or any of its Subsidiaries) at law or in equity, or before or
by any Governmental Authority, domestic or foreign (including any Environmental Claims), whether pending or, to the knowledge
of Holdings or any of its Subsidiaries, threatened in writing against or affecting Holdings or any of its Subsidiaries or any
property of Holdings or any of its Subsidiaries.


 


“Affected
Lender” as defined in Section 2.17(b).


 


“Affected
Loans” as defined in Section 2.17(b).


 






    	 	3	 



     


    

 


“Affiliate”
means, as applied to any Person, any other Person directly or indirectly controlling (including any member of the senior management
group of such Person), controlled by, or under common control with, that Person. For the purposes of this definition, “control”
(including, with correlative meanings, the terms “controlling,” “controlled by” and “under common
control with”), as applied to any Person, means the possession, directly or indirectly, of the power (i) to vote 5% or more
of the total voting power of Securities having ordinary voting power for the election of directors of such Person (provided, that
so long any Non-Management Shareholder does not (together with its Affiliates) have 15% or more of the total voting power of Holdings,
such Non-Management Shareholder and its controlled Affiliates shall not be deemed to be Affiliates of the Credit Parties solely
due to the operation of this clause (i)) or (ii) to direct or cause the direction of the management and policies of that Person,
whether through the ownership of voting securities or by contract or otherwise. Notwithstanding anything in this definition to
the contrary, neither Goldman Sachs & Co. LLC nor any of its affiliates shall be considered an “Affiliate” of
any Credit Party or of any Subsidiary of any Credit Party.


 


“Agent”
means each of Administrative Agent and Collateral Agent.


 


“Aggregate
Amounts Due” as defined in Section 2.16.


 


“Aggregate
Payments” as defined in Section 7.2.


 


“Agreement”
means this Second Amended and Restated Credit and Guaranty Agreement, dated as of April 20, 2018, as it may be amended, restated,
supplemented or otherwise modified from time to time.


 


“Anti-Corruption
and Anti-Bribery Laws” means any and all requirements of law related to anti-bribery or anti-corruption matters, including
the United States Foreign Corrupt Practices Act of 1977.


 


“Anti-Terrorism
and Anti-Money Laundering Laws” means any and all requirements of law related to engaging in, financing, or facilitating
terrorism or money laundering, including the PATRIOT Act, The Currency and Foreign Transactions Reporting Act (also known as the
“Bank Secrecy Act”, 31 U.S.C. §§5311-5330 and 12 U.S.C. §§1818(s), 1820(b) and 1951-1959), Trading
With the Enemy Act (50 U.S.C. §1 et seq.), Executive Order 13224 (effective September 24, 2001) and each of the laws, regulations,
and executive orders administered by OFAC (31 C.F.R., Subtitle B, Chapter V).


 


“Applicable
Margin” means with respect to Term Loans, (i) with respect to Loans that are LIBOR Rate Loans, a percentage per
annum equal to 8.00% and (ii) with respect to Loans that are Base Rate Loans, a percentage per annum equal to 7.00%.


 






    	 	4	 



     


    

 


“Applicable
Reserve Requirement” means, at any time, for any LIBOR Rate Loan, the maximum rate, expressed as a decimal, at which
reserves (including, without limitation, any basic marginal, special, supplemental, emergency or other reserves) are required
to be maintained with respect thereto against “Eurocurrency liabilities” (as such term is defined in Regulation D)
under regulations issued from time to time by the Board of Governors of the Federal Reserve System or other applicable banking
regulator. Without limiting the effect of the foregoing, the Applicable Reserve Requirement shall reflect any other reserves required
to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to
which the applicable Adjusted LIBOR Rate or any other interest rate of a Loan is to be determined, or (ii) any category of extensions
of credit or other assets which include LIBOR Rate Loans. A LIBOR Rate Loan shall be deemed to constitute Eurocurrency liabilities
and as such shall be deemed subject to reserve requirements without benefits of credit for proration, exceptions or offsets that
may be available from time to time to the applicable Lender. The rate of interest on LIBOR Rate Loans shall be adjusted automatically
on and as of the effective date of any change in the Applicable Reserve Requirement.


 


“Asset
Sale” means a sale, lease or sub lease (as lessor or sublessor), sale and leaseback, assignment, conveyance, transfer,
license or other disposition to, or any exchange of property with, any Person (other than to or with a Credit Party which is not
Holdings), in one transaction or a series of transactions, of all or any part of any Credit Party’s or any of its Subsidiary’s
businesses, assets or properties of any kind, whether real, personal, or mixed and whether tangible or intangible, whether now
owned or hereafter acquired, including, without limitation, the Capital Stock of any Credit Party or Subsidiary thereof, other
than inventory sold or leased in the ordinary course of business. For purposes of clarification, “Asset Sale” shall
include (x) the sale or other disposition for value of any contracts, (y) the early termination or modification of any contract
resulting in the receipt by any Credit Party or any of its Subsidiaries of a cash payment or other consideration in exchange for
such event (other than payments in the ordinary course for accrued and unpaid amounts due through the date of termination or modification)
and (z), any sale of merchant accounts (or any rights thereto (including, without limitation, any rights to any residual payment
stream with respect thereto)) by any Credit Party or any of its Subsidiaries.


 


“Asset
Sale Reinvestment Amounts” has the meaning given to such term in Section 2.13(a).


 


“Assignment
Agreement” means an Assignment and Assumption Agreement substantially in the form of Exhibit E, with such amendments
or modifications as may be approved by Administrative Agent.


 


“Authorized
Officer” means, as applied to any Person, any individual holding the position of chairman of the board (if an officer),
chief executive officer, president or one of its vice presidents (or the equivalent thereof), and such Person’s chief financial
officer or treasurer.


 


“Bankruptcy Code”
means Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or any successor
statute.


 


“Base
Rate” means, for any day, a rate per annum equal to the greatest of (i) the Prime Rate in effect on such day, (ii) the
Federal Funds Effective Rate in effect on such day plus 1⁄2 of 1%, (iii) the sum of (A) the Adjusted LIBOR Rate for a period
of one month and (B) the excess of the Applicable Margin for LIBOR Rate Loans over the Applicable Margin for Base Rate Loans,
in each instance, as of such day, and (iv) 4.25%. Any change in the Base Rate due to a change in the Prime Rate or the Federal
Funds Effective Rate shall be effective on the effective day of such change in the Prime Rate or the Federal Funds Effective Rate,
respectively.


 






    	 	5	 



     


    

 


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


 


“Beneficiary”
means each Agent, Lender and Lender Counterparty.


 


“Business
Day” means (i) any day excluding Saturday, Sunday and any day which is a legal holiday under the laws of the State of
New York or the State of Texas or is a day on which banking institutions located in either such state are authorized or required
by law or other governmental action to close, and (ii) with respect to all notices, determinations, fundings and payments in connection
with the Adjusted LIBOR Rate or any LIBOR Rate Loans, the term “Business Day” shall mean any day which is a
Business Day described in clause (i) and which is also a day for trading by and between banks in Dollar deposits in the London
interbank market.


 


“Capital
Lease” means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person (i)
as lessee that, in conformity with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person
or (ii) as lessee which is a transaction of a type commonly known as a “synthetic lease” (i.e., a transaction that
is treated as an operating lease for accounting purposes but with respect to which payments of rent are intended to be treated
as payments of principal and interest on a loan for Federal income tax purposes).


 


“Capital
Stock” means any and all shares, interests, participations or other equivalents (however designated) of capital stock
of a corporation, any and all equivalent ownership interests in a Person (other than a corporation), including, without limitation,
partnership interests and membership interests, and any and all warrants, rights or options to purchase or other arrangements
or rights to acquire any of the foregoing.


 


“Cash”
means money, currency or a credit balance in any demand or Deposit Account; provided, however, that notwithstanding anything
to the contrary contained herein, for purposes of calculating compliance with the requirements of Sections 3 and 6 hereof “Cash”
shall exclude any amounts that would not be considered “cash” under GAAP or “cash” as recorded on the
books of the Companies and the Guarantors.


 


“Cash
Equivalents” means, as at any date of determination, (i) marketable securities (a) issued or directly and unconditionally
guaranteed as to interest and principal by the United States Government, or (b) issued by any agency of the United States the
obligations of which are backed by the full faith and credit of the United States, in each case maturing within one year after
such date; (ii) marketable direct obligations issued by any state of the United States of America or any political subdivision
of any such state or any public instrumentality thereof, in each case maturing within one year after such date and having, at
the time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from Moody’s; (iii) commercial
paper maturing no more than one year from the date of creation thereof and having, at the time of the acquisition thereof, a rating
of at least A-1 from S&P or at least P-1 from Moody’s; (iv) certificates of deposit or bankers’ acceptances maturing
within one year after such date and issued or accepted by any Lender or by any commercial bank organized under the laws of the
United States of America or any state thereof or the District of Columbia that (a) is at least “adequately capitalized”
(as defined in the regulations of its primary Federal banking regulator), and (b) has Tier 1 capital (as defined in such regulations)
of not less than $100,000,000; and (v) shares of any money market mutual fund that (a) has substantially all of its assets invested
continuously in the types of investments referred to in clauses (i) and (ii) above, (b) has net assets of not less than $500,000,000,
and (c) has the highest rating obtainable from either S&P or Moody’s.


 






    	 	6	 



     


    

 


“Certificate
Regarding Non-Bank Status” means a certificate substantially in the form of Exhibit F.


 


“Change
of Control” means, at any time, (i) the Equity Investors shall cease to beneficially own and control at least 51% on
a fully diluted basis of the voting interests, and at least 30% on a fully diluted basis of the economic interests, in the Capital
Stock of Holdings; (ii) any Person or “group” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act)
other than the Equity Investors (a) shall have acquired beneficial ownership of 30% or more on a fully diluted basis of the
voting and/or economic interest in the Capital Stock of Holdings or (b) shall have obtained the power (whether or not exercised)
to elect a majority of the members of the board of directors (or similar governing body) of Holdings; (iii) Holdings shall cease
to beneficially own and control 100% on a fully diluted basis of the economic and voting interest in the Capital Stock of any
Company; (iv) the majority of the seats (other than vacant seats) on the board of directors (or similar governing body) of Holdings
cease to be occupied by Persons who either (a) were members of the board of directors of Holdings on the Restatement Date, or
(b) were nominated for election by the board of directors of Holdings, a majority of whom were directors on the Restatement Date
or whose election or nomination for election was previously approved by a majority of such directors; or (v) any event, transaction
or occurrence as a result of which the Person holding the office of chief executive officer (or any other title with responsibilities
similar to those typically held by the chief executive officer) of the Credit Parties shall for any reason cease to be actively
engaged in the day-to-day management of the Credit Parties with the role and responsibility typically associated with such title,
unless a permanent successor reasonably acceptable to Administrative Agent and the Requisite Lenders is appointed within sixty
days following the date such Person ceases to be actively engaged in such capacity.


 


“Class”
means with respect to Lenders, Lenders having Term Loan Exposure and with respect to Loans, the following class of Loans:
Term Loans.


 


“Closing
Date” means December 22, 2015.


 


“Collateral”
means, collectively, all of the real, personal and mixed property (including Capital Stock) in which Liens are purported to
be granted pursuant to the Collateral Documents as security for the Obligations.


 


“Collateral
Agent” as defined in the preamble hereto.


 


“Collateral
Assignment of Key Man Life Insurance” means the Collateral Assignment of Key Man Life Insurance Policy, entered into
after the Closing Date, executed by Holdings, as beneficiary of the Key Man Life Insurance Policy, and acknowledged and agreed
by Lincoln Financial Group, as the issuer of the Key Man Life Insurance Policy.


 






    	 	7	 



     


    

 


“Collateral
Documents” means the Pledge and Security Agreement, the Mortgages, the Collateral Assignment of Key Man Life Insurance,
the Landlord Collateral Access Agreements, if any, and all other instruments, documents and agreements delivered by any Credit
Party pursuant to this Agreement or any of the other Credit Documents in order to grant to Collateral Agent, for the benefit of
Secured Parties, a Lien on any real, personal or mixed property of that Credit Party as security for the Obligations.


 


“Collateral
Questionnaire” means a certificate in form satisfactory to Collateral Agent that provides information with respect to
the real, personal or mixed property of each Credit Party and each of its Subsidiaries.


 


“Commitment”
means any Term Loan Commitment.


 


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


 


“Company”
and “Companies” as defined in the preamble hereto.


 


“Company
Guaranteed Obligations” as defined in Section 7.1.


 


“Company
Representative” means Holdings, in its capacity as representative of the Companies.


 


“Compliance
Certificate” means a compliance certificate substantially in the form of Exhibit C, with such modifications as
may be approved by Administrative Agent.


 


“Consolidated
Adjusted EBITDA” means, for any period, an amount determined for Holdings and its Subsidiaries on a consolidated basis
equal to (i) the sum, without duplication, of the amounts for such period of (a) Consolidated Net Income, plus (b) Consolidated
Interest Expense, plus (c) provisions for taxes based on income, plus (d) total depreciation expense, plus (e) total amortization
expense, plus (f) Consolidated Corporate Overhead, plus (g) other non-Cash items reducing Consolidated Net Income (excluding any
such non-Cash item to the extent that it represents an accrual or reserve for potential Cash items in any future period or amortization
of a prepaid Cash item that was paid in a prior period), plus (h) any other amounts approved by the Administrative Agent in its
sole discretion, minus (ii) the sum, without duplication of the amounts for such period of (a) other non-Cash items increasing
Consolidated Net Income for such period (excluding any such non Cash item to the extent it represents the reversal of an accrual
or reserve for potential Cash item in any prior period), plus (b) interest income, plus (c) other income, plus (d) if positive,
any portion of Consolidated Adjusted EBITDA attributable to LGMG.


 


“Consolidated
Capital Expenditures” means, for any period, the aggregate of all expenditures of Holdings and its Subsidiaries during
such period determined on a consolidated basis that, in accordance with GAAP, are or should be included in “purchase of
property and equipment or which should otherwise be capitalized” or similar items reflected in the consolidated statement
of cash flows of Holdings and its Subsidiaries.


 






    	 	8	 



     


    

 


“Consolidated
Corporate Overhead” means, for any period, the aggregate of all expenditures of Holdings and its Subsidiaries during
such period determined on a consolidated basis in accordance with GAAP including, without limitation, all expenditures associated
with the compensation and benefits of the corporate officers and staff of Holdings and its Subsidiaries (including the chief executive
officers, chief financial officers and chief operating officers thereof) and legal, audit, insurance and accounting costs and
expenses associated with the corporate compliance of Holdings and its Subsidiaries and excluding such other expenditures that,
in accordance with GAAP, (i) are or should be included in Consolidated Interest Expense, (ii) are taxes based on income, (iii)
are capitalized expenditures, (iv) are operating expenses, and (v) are other non-Cash or non-recurring items consented to by Administrative
Agent in writing in its sole discretion.


 


“Consolidated
Current Assets” means, as at any date of determination, the total assets of Holdings and its Subsidiaries on a consolidated
basis that may properly be classified as current assets in conformity with GAAP, excluding Cash and Cash Equivalents.


 


“Consolidated
Current Liabilities” means, as at any date of determination, the total liabilities of Holdings and its Subsidiaries
on a consolidated basis that may properly be classified as current liabilities in conformity with GAAP, excluding the current
portion of long term debt.


 


“Consolidated
Excess Cash Flow” means, for any period, an amount (if positive) determined for Holdings and its Subsidiaries on a consolidated
basis equal to: (i) the sum, without duplication, of the amounts for such period of (a) Consolidated Adjusted EBITDA,
plus (b) interest income, plus (c) other income (excluding any gains or losses attributable to Asset Sales), plus (d) any amounts
deducted in the calculation of Consolidated Adjusted EBITDA pursuant to clause (ii)(d) of such definition, plus (e) the Consolidated
Working Capital Adjustment, minus (ii) the sum, without duplication, of the amounts for such period of (a) voluntary
and scheduled repayments of Consolidated Total Debt, plus (b) Consolidated Capital Expenditures (net of any proceeds of (x)
Net Asset Sale Proceeds to the extent reinvested in accordance with Section 2.13(a), (y) Net Insurance/Condemnation Proceeds to
the extent reinvested in accordance with Section 2.13(b), and (z) any proceeds of related financings with respect to such expenditures),
plus (c) Consolidated Cash Interest Expense, plus (d) provisions for current taxes based on income of Holdings and its
Subsidiaries and payable in cash with respect to such period, plus (e) Consolidated Corporate Overhead paid or payable in cash
during such period (to the extent not in excess of the limit with respect to such period set forth in Section 6.8), plus (f) other
cash amounts added back to Consolidated Net Income in the calculation of Consolidated Adjusted EBITDA, in each case, to the extent
satisfactory to Administrative Agent in its sole discretion.


 


“Consolidated
Interest Expense” means, for any period, total interest expense (including that portion attributable to Capital Leases
in accordance with GAAP and capitalized interest) of Holdings and its Subsidiaries on a consolidated basis with respect to all
outstanding Consolidated Total Debt, including all commissions, discounts and other fees and charges owed with respect to letters
of credit and net costs under Interest Rate Agreements.


 






    	 	9	 



     


    

 


“Consolidated
Liquidity” means, as of any date of determination, an amount determined for Holdings and its Subsidiaries on a consolidated
basis equal to (i) Cash of Holdings and its Subsidiaries in which the Collateral Agent has a first priority perfected Lien, minus
(ii) all accounts payable of any Credit Party that are overdue by more than 90 days.


 


“Consolidated
Net Income” means, for any period, (i) the net income (or loss) of Holdings and its Subsidiaries on a consolidated
basis for such period taken as a single accounting period determined in conformity with GAAP, minus (ii) the sum of (a)
the income (or loss) of any Person (other than a Subsidiary of Holdings) in which any other Person (other than Holdings or any
of its Subsidiaries) has a joint interest, plus (b) the income (or loss) of any Person accrued prior to the date it becomes
a Subsidiary of Holdings or is merged into or consolidated with Holdings or any of its Subsidiaries or that Person’s assets
are acquired by Holdings or any of its Subsidiaries, plus (c) the income of any Subsidiary of Holdings to the extent that
the declaration or payment of dividends or similar distributions by that Subsidiary of that income is not at the time permitted
by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental
regulation applicable to that Subsidiary, plus (d) any gains or losses attributable to Asset Sales or returned surplus assets
of any Pension Plan, plus (e) (to the extent not included in clauses (a) through (d) above) any net extraordinary gains
or net extraordinary losses.


 


“Consolidated
Total Debt” means, as at any date of determination, the aggregate amount of all Indebtedness of Holdings and its Subsidiaries
determined on a consolidated basis.


 


“Consolidated
Working Capital” means, as at any date of determination, the excess or deficiency of Consolidated Current Assets over
Consolidated Current Liabilities.


 


“Consolidated
Working Capital Adjustment” means, for any period of determination on a consolidated basis, the amount (which may be
a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated
Working Capital as of the end of such period.


 


“Contractual
Obligation” means, as applied to any Person, any provision of any Security issued by that Person or of any indenture,
mortgage, deed of trust, contract, undertaking, agreement or other instrument to which that Person is a party or by which it or
any of its properties is bound or to which it or any of its properties is subject.


 


“Contributing
Credit Party” as defined in Section 7.2.


 


“Controlled
Account” means a Deposit Account of a Credit Party which is subject to the control within the meaning of the UCC of
the Collateral Agent, for the benefit of the Secured Parties, in accordance with the terms of the Pledge and Security Agreement.


 


“Conversion/Continuation
Date” means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation
Notice.


 






    	 	10	 



     


    

 


“Conversion/Continuation
Notice” means a Conversion/Continuation Notice substantially in the form of Exhibit A-2.


 


“Counterpart
Agreement” means a Counterpart Agreement substantially in the form of Exhibit H delivered by a Credit Party pursuant
to Section 5.10.


 


“Credit
Date” means the date of a Credit Extension.


 


“Credit
Document” means any of this Agreement, the Notes, if any, the Collateral Documents, the Fee Letter and all other documents,
instruments or agreements executed and delivered by a Credit Party for the benefit of any Agent or any Lender in connection herewith.


 


“Credit
Extension” means the making of a Loan.


 


“Credit
Party” means the Companies and Holdings.


 


“Default”
means a condition or event that, after notice or lapse of time or both, would constitute an Event of Default.


 


“Default
Excess” means, with respect to any Defaulting Lender, the excess, if any, of such Defaulting Lender’s Pro Rata
Share of the aggregate outstanding principal amount of Loans of all Lenders (calculated as if all Defaulting Lenders (other than
such Defaulting Lender) had funded all of their respective Defaulted Loans) over the aggregate outstanding principal amount of
all Loans of such Defaulting Lender.


 


“Default
Period” means, with respect to any Defaulting Lender, the period commencing on the date of the applicable Funding Default,
or violation of Section 9.5(c), and ending on the earliest of the following dates: (i) the date on which all Commitments are cancelled
or terminated and/or the Obligations are declared or become immediately due and payable, (ii) the date on which (a) the Default
Excess with respect to such Defaulting Lender shall have been reduced to zero (whether by the funding by such Defaulting Lender
of any Defaulted Loans of such Defaulting Lender or by the non-pro rata application of any voluntary or mandatory prepayments
of the Loans in accordance with the terms of Section 2.12 or Section 2.13 or by a combination thereof), and (b) such Defaulting
Lender shall have delivered to the Company Representative and Administrative Agent a written reaffirmation of its intention to
honor its obligations hereunder with respect to its Commitments, (iii) the date on which Company Representative, Administrative
Agent and Requisite Lenders waive all Funding Defaults of such Defaulting Lender in writing, and (iv) to the extent such Defaulting
Lender is a Defaulting Lender solely due to a violation of Section 9.5(c), the date on which Administrative Agent shall have waived
all violations of Section 9.5(c) by such Defaulting Lender in writing.


 


“Defaulted
Loan” as defined in Section 2.21.


 


“Defaulting
Lender” as defined in Section 2.21.


 


“Default
Rate” means the interest rate applicable pursuant to Section 2.9.


 






    	 	11	 



     


    

 


“Deposit
Account” means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union
or like organization, other than an account evidenced by a negotiable certificate of deposit.


 


“Disqualified
Stock” means any Capital Stock which, by its terms (or by the terms of any security into which it is convertible or
for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of an optional
redemption by the issuer thereof) or is mandatorily redeemable, in whole or in part, or required to be repurchased or redeemed,
in whole or in part, in each case other than for common Capital Stock of Holdings, pursuant to a sinking fund obligation or otherwise,
on or prior to 180 days after the latest possible maturity date of the Loans, (b) is or becomes convertible into or exchangeable
(unless at the sole option of the issuer thereof) for (i) debt securities or (ii) any Capital Stock of Holdings or any of its
Subsidiaries that would constitute Disqualified Stock, in each case at any time on or prior to 180 days after the latest possible
maturity date of the Loans, (c) contains any mandatory repurchase obligation which may come into effect on or prior to 180 days
after the latest possible maturity date of the Loans or (d) provides for the scheduled payments of dividends in Cash on or prior
to 180 days after the latest possible maturity date of the Loans.


 


“Dollars”
and the sign “$” mean the lawful money of the United States of America.


 


“Domestic
Subsidiary” means any Subsidiary organized under the laws of the United States of America, any State thereof or the
District of Columbia.


 


“Eligible
Assignee” means (i) in the case of the Term Loans, (a) any Lender, any Affiliate of any Lender and any Related
Fund (any two or more Related Funds being treated as a single Eligible Assignee for all purposes hereof), and (b) any commercial
bank, insurance company, investment or mutual fund or other entity that is an “accredited investor” (as defined in
Regulation D under the Securities Act) and which extends credit or buys loans as one of its businesses, and (ii) any
other Person (other than a natural Person) approved by the Administrative Agent; provided, neither (A) Holdings nor any
Affiliate of Holdings nor (B) the Equity Investors nor any Affiliate of the Equity Investor shall, in any event, be an Eligible
Assignee, and (y) no Person owning or controlling any trade debt or Indebtedness of any Credit Party other than the Obligations
or any Capital Stock of any Credit Party (in each case, unless approved by the Administrative Agent) shall, in any event, be an
Eligible Assignee.


 


“Employee
Benefit Plan” means any “employee benefit plan” as defined in Section 3(3) of ERISA which is or was sponsored,
maintained or contributed to by, or required to be contributed by, Holdings, any of its Subsidiaries or any of their respective
ERISA Affiliates.


 


“Environmental
Claim” means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order
or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (i) pursuant
to or in connection with any actual or alleged violation of any Environmental Law; (ii) in connection with any Hazardous Material
or any actual or alleged Hazardous Materials Activity; or (iii) in connection with any actual or alleged damage, injury, threat
or harm to health, safety, natural resources or the environment.


 






    	 	12	 



     


    

 


“Environmental
Laws” means any and all current or future foreign or domestic, federal or state (or any subdivision of either of them),
statutes, ordinances, orders, rules, regulations, judgments, Governmental Authorizations, or any other requirements of Governmental
Authorities relating to (i) environmental matters, including those relating to any Hazardous Materials Activity; (ii) the
generation, use, storage, transportation or disposal of Hazardous Materials; or (iii) occupational safety and health, industrial
hygiene, land use or the protection of human, plant or animal health or welfare, in any manner applicable to Holdings or any of
its Subsidiaries or any Facility.


 


“Equity
Investors” means, collectively, Jeffrey Cosman and his estate (including any trust established for estate planning purposes),
heirs, spouse or former spouses.


 


“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any successor thereto.


 


“ERISA
Affiliate” means, as applied to any Person, (i) any corporation which is a member of a controlled group of corporations
within the meaning of Section 414(b) of the Internal Revenue Code of which that Person is a member; (ii) any trade or business
(whether or not incorporated) which is a member of a group of trades or businesses under common control within the meaning of
Section 414(c) of the Internal Revenue Code of which that Person is a member; and (iii) any member of an affiliated service group
within the meaning of Section 414(m) or (o) of the Internal Revenue Code of which that Person, any corporation described in clause
(i) above or any trade or business described in clause (ii) above is a member. Any former ERISA Affiliate of Holdings or any of
its Subsidiaries shall continue to be considered an ERISA Affiliate of Holdings or any such Subsidiary within the meaning of this
definition with respect to the period such entity was an ERISA Affiliate of Holdings or such Subsidiary and with respect to liabilities
arising after such period for which Holdings or such Subsidiary could be liable under the Internal Revenue Code or ERISA.


 


“ERISA
Event” means (i) a “reportable event” within the meaning of Section 4043 of ERISA and the regulations issued
thereunder with respect to any Pension Plan (excluding those for which the provision for thirty day notice to the PBGC has been
waived by regulation); (ii) the failure to meet the minimum funding standard of Section 412 of the Internal Revenue Code with
respect to any Pension Plan (whether or not waived in accordance with Section 412(c) of the Internal Revenue Code) or the failure
to make by its due date a required installment under Section 430(j) of the Internal Revenue Code with respect to any Pension Plan
or the failure to make any required contribution to a Multiemployer Plan; (iii) the provision by the administrator of any Pension
Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate such plan in a distress termination described
in Section 4041(c) of ERISA; (iv) the withdrawal by Holdings, any of its Subsidiaries or any of their respective ERISA Affiliates
from any Pension Plan with two or more contributing sponsors or the termination of any such Pension Plan resulting in liability
to Holdings, any of its Subsidiaries or any of their respective Affiliates pursuant to Section 4063 or 4064 of ERISA; (v) the
institution by the PBGC of proceedings to terminate any Pension Plan, or the occurrence of any event or condition which might
constitute grounds under ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (vi) the
imposition of liability on Holdings, any of its Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4062(e)
or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (vii) the withdrawal of Holdings, any of its Subsidiaries
or any of their respective ERISA Affiliates in a complete or partial withdrawal (within the meaning of Sections 4203 and 4205
of ERISA) from any Multiemployer Plan if there is any potential liability therefor, or the receipt by Holdings, any of its Subsidiaries
or any of their respective ERISA Affiliates of notice from any Multiemployer Plan that it is in reorganization or insolvency pursuant
to Section 4241 or 4245 of ERISA, or that it intends to terminate or has terminated under Section 4041A or 4042 of ERISA; (viii)
the occurrence of an act or omission which could give rise to the imposition on Holdings, any of its Subsidiaries or any of their
respective ERISA Affiliates of fines, penalties, taxes or related charges under Chapter 43 of the Internal Revenue Code or under
Section 409, Section 502(c), (i) or (l), or Section 4071 of ERISA in respect of any Employee Benefit Plan; (ix) the assertion
of a material claim (other than routine claims for benefits) against any Employee Benefit Plan other than a Multiemployer Plan
or the assets thereof, or against Holdings, any of its Subsidiaries or any of their respective ERISA Affiliates in connection
with any Employee Benefit Plan; (x) receipt from the Internal Revenue Service of notice of the failure of any Pension Plan (or
any other Employee Benefit Plan intended to be qualified under Section 401(a) of the Internal Revenue Code) to qualify under Section
401(a) of the Internal Revenue Code, or the failure of any trust forming part of any Pension Plan to qualify for exemption from
taxation under Section 501(a) of the Internal Revenue Code; or (xi) the imposition of a Lien pursuant to Section 430(k) of the
Internal Revenue Code or pursuant to Section 303(k) of ERISA with respect to any Pension Plan.


 






    	 	13	 



     


    

 


“Event
of Default” means each of the conditions or events set forth in Section 8.1.


 


“Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time, and any successor statute.


 


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


 


“Existing
Loans” as defined in Section 2.1(a).


 






    	 	14	 



     


    

 


“Facility”
means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or heretofore
owned, leased, operated or used by Holdings or any of its Subsidiaries or any of their respective predecessors or Affiliates.


 


“Fair
Share Contribution Amount” as defined in Section 7.2.


 


“Fair
Share” as defined in Section 7.2.


 


“FATCA”
means (a) Sections 1471 through 1474 of the Internal Revenue Code, as of the date of this Agreement (or any amended or successor
version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or
official interpretations thereof and any agreement entered into pursuant to Section 1471(b)(1) of the Internal Revenue Code, (b)
any treaty, law, regulation or other official guidance enacted in any jurisdiction, or relating to an intergovernmental agreement
between the United States and any other jurisdiction, with the purpose (in either case) of facilitating the implementation of
clause (a) above, or (c) any agreement pursuant to the implementation of clauses (a) or (b) above with the United States Internal
Revenue Service, the United States government or any governmental or taxation authority.


 


“Federal
Funds Effective Rate” means for any day, the rate per annum (expressed, as a decimal, rounded upwards, if necessary,
to the next higher 1/100 of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with members
of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York
on the Business Day next succeeding such day; provided, (i) if such day is not a Business Day, the Federal Funds Effective
Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding
Business Day, and (ii) if no such rate is so published on such next succeeding Business Day, the Federal Funds Effective Rate
for such day shall be the average rate charged to GSSLH or any other Lender selected by Administrative Agent on such day on such
transactions as determined by Administrative Agent.


 


“Fee
Letter” means the amended and restated letter agreement, dated the Restatement Date, between Companies and Administrative
Agent.


 


“Financial
Officer Certification” means, with respect to the financial statements for which such certification is required, the
certification of the chief financial officer of Holdings that such financial statements fairly present, in all material respects,
the financial condition of Holdings and its Subsidiaries as at the dates indicated and the results of their operations and their
cash flows for the periods indicated, subject to changes resulting from audit and normal year-end adjustments.


 


“Financial
Plan” as defined in Section 5.1(i).


 


“First
Priority” means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document,
that such Lien is the only Lien to which such Collateral is subject, other than any Permitted Lien.


 


“First
Restatement Date” means February 15, 2017.


 






    	 	15	 



     


    

 


“Fiscal
Quarter” means a fiscal quarter of any Fiscal Year.


 


“Fiscal
Year” means the fiscal year of Holdings and its Subsidiaries ending on December 31 of each calendar year.


 


“Flood
Hazard Property” means any Real Estate Asset subject to a mortgage in favor of Collateral Agent, for the benefit of
the Secured Parties, and located in an area designated by the Federal Emergency Management Agency as having special flood or mud
slide hazards.


 


“Foreign
Subsidiary” means any Subsidiary that is not a Domestic Subsidiary.


 


“Funding
Default” as defined in Section 2.21.


 


“Funding
Credit Parties” as defined in Section 7.2.


 


“Funding
Notice” means a notice substantially in the form of Exhibit A-1.


 


“GAAP”
means, subject to the limitations on the application thereof set forth in Section 1.2, United States generally accepted accounting
principles in effect as of the date of determination thereof.


 


“Governmental
Authority” means any federal, state, municipal, national or other government, governmental department, commission, board,
bureau, court, agency or instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative,
judicial, regulatory or administrative functions of or pertaining to any government or any court, in each case whether associated
with a state of the United States, the United States, or a foreign entity or government.


 


“Governmental
Authorization” means any permit, license, authorization, plan, directive, consent order or consent decree of or from
any Governmental Authority.


 


“Grantor”
as defined in the Pledge and Security Agreement.


 


“GSSLG”
as defined in the preamble hereto.


 


“GSSLH”
means Goldman Sachs Specialty Lending Holdings, Inc., a Delaware corporation.


 


“Guaranteed
Obligations” as defined in Section 7.1.


 


“Guarantor”
means each of Holdings and any other Person that joins this Agreement as a “guarantor”.


 


“Guaranty”
means the guaranty of the Guarantors, and the cross-guaranty of the Companies, set forth in Section 7.


 


“Hazardous
Materials” means any chemical, material or substance, exposure to which is prohibited, limited or regulated by any Governmental
Authority or which may or could pose a hazard to the health and safety of the owners, occupants or any Persons in the vicinity
of any Facility or to the indoor or outdoor environment.


 






    	 	16	 



     


    

 


“Hazardous
Materials Activity” means any past, current, proposed or threatened activity, event or occurrence involving any Hazardous
Materials, including the use, manufacture, possession, storage, holding, presence, existence, location, Release, threatened Release,
discharge, placement, generation, transportation, processing, construction, treatment, abatement, removal, remediation, disposal,
disposition or handling of any Hazardous Materials, and any corrective action or response action with respect to any of the foregoing.


 


“Highest
Lawful Rate” means the maximum lawful interest rate, if any, that at any time or from time to time may be contracted
for, charged, or received under the laws applicable to any Lender which are presently in effect or, to the extent allowed by law,
under such applicable laws which may hereafter be in effect and which allow a higher maximum nonusurious interest rate than applicable
laws now allow.


 


“Holdings”
as defined in the preamble hereto.


 


“Increased
Amount Date” as defined in Section 2.23.


 


“Increased-Cost
Lenders” as defined in Section 2.22.


 


“Indebtedness,”
as applied to any Person, means, without duplication, (i) all indebtedness for borrowed money; (ii) that portion
of obligations with respect to Capital Leases that is properly classified as a liability on a balance sheet in conformity with
GAAP; (iii) notes payable and drafts accepted representing extensions of credit whether or not representing obligations for
borrowed money; (iv) any obligation owed for all or any part of the deferred purchase price of property or services (excluding
any such obligations incurred under ERISA); (v) all indebtedness secured by any Lien on any property or asset owned or held
by that Person regardless of whether the indebtedness secured thereby shall have been assumed by that Person or is nonrecourse
to the credit of that Person; (vi) the face amount of any letter of credit issued for the account of that Person or as to
which that Person is otherwise liable for reimbursement of drawings; (vii) the direct or indirect guaranty, endorsement (otherwise
than for collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse
by such Person of the obligation of another; (viii) any obligation of such Person the primary purpose or intent of which is to
provide assurance to an obligee that the obligation of the obligor thereof will be paid or discharged, or any agreement relating
thereto will be complied with, or the holders thereof will be protected (in whole or in part) against loss in respect thereof;
(ix) any liability of such Person for an obligation of another through any agreement (contingent or otherwise) (a) to purchase,
repurchase or otherwise acquire such obligation or any security therefor, or to provide funds for the payment or discharge of
such obligation (whether in the form of loans, advances, stock purchases, capital contributions or otherwise) or (b) to maintain
the solvency or any balance sheet item, level of income or financial condition of another if, in the case of any agreement described
under subclauses (a) or (b) of this clause (ix), the primary purpose or intent thereof is as described in clause (viii) above;
(x) all obligations of such Person in respect of any exchange traded or over the counter derivative transaction, including, without
limitation, any Interest Rate Agreement, whether entered into for hedging or speculative purposes and (xi) all Disqualified Stock
issued by such Person, with the amount of Indebtedness represented by such Disqualified Stock being equal to the greater of its
voluntary or involuntary liquidation preference and its maximum fixed repurchase price (for purposes hereof, the “maximum
fixed repurchase price” of any Disqualified Stock that does not have a fixed repurchase price shall be calculated in accordance
with the terms of such Disqualified Stock as if such Disqualified Stock were purchased on any date on which Indebtedness shall
be required to be determined pursuant to this Agreement, and if such price is based upon, or measured by, the fair market value
of such Disqualified Stock).


 






    	 	17	 



     


    

 


“Indemnified
Liabilities” means, collectively, any and all liabilities, obligations, losses, damages (including natural resource
damages), penalties, claims (including Environmental Claims), costs (including the costs of any investigation, study, sampling,
testing, abatement, cleanup, removal, remediation or other response action necessary to remove, remediate, clean up or abate any
Hazardous Materials Activity), expenses and disbursements of any kind or nature whatsoever (including the reasonable fees and
disbursements of counsel for Indemnitees in connection with any investigative, administrative or judicial proceeding commenced
or threatened by any Person, whether or not any such Indemnitee shall be designated as a party or a potential party thereto, and
any fees or expenses incurred by Indemnitees in enforcing this indemnity), whether direct, indirect or consequential and whether
based on any federal, state or foreign laws, statutes, rules or regulations (including securities and commercial laws, statutes,
rules or regulations and Environmental Laws), on common law or equitable cause or on contract or otherwise, that may be imposed
on, incurred by, or asserted against any such Indemnitee, in any manner relating to or arising out of (i) this Agreement or the
other Credit Documents or the transactions contemplated hereby or thereby (including the Lenders’ agreement to make Credit
Extensions or the use or intended use of the proceeds thereof, or any enforcement of any of the Credit Documents (including any
sale of, collection from, or other realization upon any of the Collateral or the enforcement of the Guaranty)); (ii) the statements
contained in any commitment letter delivered by any Lender to any Company or any of its Affiliates with respect to the transactions
contemplated by the Prior Credit Agreement and this Agreement; or (iii) any Environmental Claim or any Hazardous Materials Activity
relating to or arising from, directly or indirectly, any past or present activity, operation, land ownership, or practice of Holdings
or any of its Subsidiaries.


 


“Indemnitee”
as defined in Section 10.3.


 


“Indemnitee
Agent Party” as defined in Section 9.6.


 


“Installment”
as defined in Section 2.11(a).


 


“Installment
Date” as defined in Section 2.11(a).


 


“Interest
Payment Date” means with respect to (i) any Base Rate Loan, (a) the last day of each month, commencing on the first
such date to occur after the Restatement Date, and (b) the final maturity date of such Loan; and (ii) any LIBOR Rate Loan, (a)
the last day of each month commencing on the first such date to occur after the Restatement Date, and (b) the last day of each
Interest Period applicable to such Loan.


 






    	 	18	 



     


    

 


“Interest
Period” means, in connection with a LIBOR Rate Loan, an interest period of one-, two-, three- or six-months, as selected
by the Company Representative in the applicable Funding Notice or Conversion/Continuation Notice, (i) initially, commencing on
the Credit Date or Conversion/Continuation Date thereof, as the case may be; and (ii) thereafter, commencing on the day on which
the immediately preceding Interest Period expires; provided, (a) if an Interest Period would otherwise expire on a day
that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day unless no further Business Day
occurs in such month, in which case such Interest Period shall expire on the immediately preceding Business Day; (b) any Interest
Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day
in the calendar month at the end of such Interest Period) shall, subject to clause (c), of this definition, end on the last Business
Day of a calendar month; (c) no Interest Period with respect to any portion of any Class of Term Loans shall extend beyond such
Class’s Term Loan Maturity Date.


 


“Interest
Rate Agreement” means any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement,
interest rate hedging agreement or other similar agreement or arrangement, each of which is (i) for the purpose of hedging the
interest rate exposure associated with Holdings’ and its Subsidiaries’ operations, (ii) approved by Administrative
Agent, and (iii) not for speculative purposes.


 


“Interest
Rate Determination Date” means, with respect to any Interest Period, the date that is two Business Days prior to the
first day of such Interest Period.


 


“Internal
Revenue Code” means the Internal Revenue Code of 1986, as amended to the date hereof and from time to time hereafter,
and any successor statute.


 


“Investment”
means (i) any direct or indirect purchase or other acquisition by Holdings or any of its Subsidiaries of, or of a beneficial
interest in, any of the Securities of any other Person (other than a Company); (ii) any direct or indirect redemption, retirement,
purchase or other acquisition for value, by any Subsidiary of Holdings from any Person (other than Holdings or any Company), of
any Capital Stock of such Person; and (iii) any direct or indirect loan, advance (other than advances to employees for moving,
entertainment and travel expenses, drawing accounts and similar expenditures in the ordinary course of business) or capital contributions
by Holdings or any of its Subsidiaries to any other Person (other than Holdings or any Company), including all indebtedness and
accounts receivable from that other Person that are not current assets or did not arise from sales to that other Person in the
ordinary course of business. The amount of any Investment shall be the original cost of such Investment plus the cost of all additions
thereto, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect to
such Investment.


 


“Joint
Venture” means a joint venture, partnership or other similar arrangement, whether in corporate, partnership or other
legal form; provided, in no event shall any corporate Subsidiary of any Person be considered to be a Joint Venture to which
such Person is a party.


 


“Key
Man Life Insurance Policy” as defined in Section 5.5(b).


 






    	 	19	 



     


    

 


“Landlord
Consent and Estoppel” means, with respect to any Leasehold Property, an agreement in writing from the lessor under the
related lease, pursuant to which, among other things, the landlord consents to the granting of a Mortgage on such Leasehold Property
by the Credit Party tenant, such Landlord Consent and Estoppel to be in form and substance acceptable to Collateral Agent in its
reasonable discretion, but in any event sufficient for Collateral Agent to obtain a Title Policy with respect to such Mortgage.


 


“Landlord
Collateral Access Agreement” means a landlord agreement substantially in the form of Exhibit K with such amendments
or modifications as may be approved by Collateral Agent.


 


“Lead
Arranger” as defined in the preamble hereto.


 


“Leasehold
Property” means any leasehold interest of Holdings or any of its Subsidiaries as lessee under any lease of real property,
other than any such leasehold interest designated from time to time by Collateral Agent in its sole discretion as not being required
to be included in the Collateral.


 


“Lender”
means each financial institution listed on the signature pages hereto as a Lender, and any other Person that becomes a party
hereto pursuant to an Assignment Agreement.


 


“Lender
Counterparty” means each Lender or any Affiliate of a Lender counterparty to an Interest Rate Agreement (including any
Person who is a Lender (and any Affiliate thereof) at the time such Interest Rate Agreement was entered into but subsequently,
ceases to be a Lender) including, each such Affiliate that enters into a joinder agreement with Collateral Agent.


 


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


 


“Lien”
means (i) any lien, mortgage, pledge, assignment, security interest, charge or encumbrance of any kind (including any agreement
to give any of the foregoing, any conditional sale or other title retention agreement, and any lease in the nature thereof) and
any option, trust or other preferential arrangement having the practical effect of any of the foregoing, and (ii) in the case
of Securities, any purchase option, call or similar right of a third party with respect to such Securities.


 


“Loan”
means a Term Loan.


 


“Margin
Stock” as defined in Regulation U of the Board of Governors of the Federal Reserve System as in effect from time
to time.


 


“Material
Adverse Effect” means a material adverse effect on and/or material adverse developments with respect to (i) the business
operations, properties, assets, condition (financial or otherwise) or prospects of Holdings and its Subsidiaries taken as a whole;
(ii) the ability of any Credit Party to fully and timely perform its Obligations; (iii) the legality, validity, binding effect,
or enforceability against a Credit Party of a Credit Document to which it is a party; or (iv) the rights, remedies and benefits
available to, or conferred upon, any Agent and any Lender or any Secured Party under any Credit Document; provided, that “Material
Adverse Effect” shall not include any of the following: (w) the Restatement Date Disposition, (x) the Specified Events of
Default, (y) any events, effect or developments relating solely to the assets and Persons disposed of in the Restatement Date
Disposition or (z) any other events, effects or developments occurring prior to the Restatement Date and arising out of the events
described in the foregoing clauses (x), (y) and (z) to the extent that the Credit Parties have provided written notice to the
Administrative Agent of such events, effects or developments prior to the Restatement Date.


 






    	 	20	 



     


    

 


“Material
Contract” means any contract or other arrangement to which Holdings or any of its Subsidiaries is a party (other than
the Credit Documents) for which breach, nonperformance, cancellation or failure to renew could reasonably be expected to have
a Material Adverse Effect together with and those contracts and arrangements listed on Schedule 4.16, in each case, as amended
prior to the Restatement Date and as amended in accordance with this Agreement.


 


“Material
Real Estate Asset” means (i) (a) any fee-owned Real Estate Asset having a fair market value in excess of $500,000 as
of the date of the acquisition thereof, and (b) any Leasehold Property for which the aggregate payments under the term of the
lease are at least $500,000 per annum, (ii) any Real Estate Asset that the Requisite Lenders have determined is material to the
business, operations, properties, assets, condition (financial or otherwise) or prospects of Holdings or any Subsidiary thereof,
including Company and (iii) the Real Estate Assets listed on Schedule 1.1(b).


 


“Moody’s”
means Moody’s Investor Services, Inc.


 


“Mortgage”
means a Mortgage substantially in the form of Exhibit J, as it may be amended, supplemented or otherwise modified from
time to time.


 


“Mortgaged
Property” as defined in the definition of “Real Estate Mortgage Requirements”. 


 


“Multiemployer
Plan” means any Employee Benefit Plan which is a “multiemployer plan” as defined in Section 3(37) of ERISA.


 


“NAIC”
means The National Association of Insurance Commissioners, and any successor thereto.


 


“Net
Asset Sale Proceeds” means, with respect to any Asset Sale, an amount equal to: (i) Cash payments received by Holdings
or any of its Subsidiaries from such Asset Sale, minus (ii) any bona fide direct costs incurred in connection with
such Asset Sale to the extent paid or payable to non-Affiliates, including (a) income or gains taxes payable by the seller as
a result of any gain recognized in connection with such Asset Sale during the tax period the sale occurs, (b) payment of the outstanding
principal amount of, premium or penalty, if any, and interest on any Indebtedness (other than the Loans) that is secured by a
Permitted Lien (provided that such Lien is not subordinated to the Collateral Agent’s Lien) on the stock or assets in question
and that is required to be repaid under the terms thereof as a result of such Asset Sale, and (c) a reasonable reserve for any
indemnification payments (fixed or contingent) attributable to seller’s indemnities and representations and warranties to
purchaser in respect of such Asset Sale undertaken by Holdings or any of its Subsidiaries in connection with such Asset Sale;
provided that upon release of any such reserve, the amount released shall be considered Net Asset Sale Proceeds.


 






    	 	21	 



     


    

 


“Net
Insurance/Condemnation Proceeds” means an amount equal to: (i) any Cash payments or proceeds received by Holdings
or any of its Subsidiaries (a) under any casualty, business interruption or “key man” insurance policies in respect
of any covered loss thereunder, or (b) as a result of the taking of any assets of Holdings or any of its Subsidiaries by any Person
pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with
such power under threat of such a taking, minus (ii) (a) any actual and reasonable costs incurred by Holdings or any
of its Subsidiaries in connection with the adjustment or settlement of any claims of Holdings or such Subsidiary in respect thereof,
and (b) any bona fide direct costs incurred in connection with any sale of such assets as referred to in clause (i)(b) of this
definition to the extent paid or payable to non-Affiliates, including income taxes payable as a result of any gain recognized
in connection therewith.


 


“Non-Management
Shareholder” means each shareholder of Holdings listed on Schedule 1.1(a).


 


“Non-US
Lender” as defined in Section 2.19(c).


 


“Note”
means a Term Loan Note.


 


“Notice”
means a Funding Notice or a Conversion/Continuation Notice.


 


“Obligations”
means all obligations of every nature of each Credit Party from time to time owed to the Agents (including former Agents),
the Lenders, Goldman Sachs & Co. or any of them and Lender Counterparties, under any Credit Document or Interest Rate Agreement
(including, without limitation, with respect to an Interest Rate Agreement, obligations owed thereunder to any person who was
a Lender or an Affiliate of a Lender at the time such Interest Rate Agreement was entered into), whether for principal, interest
(including interest which, but for the filing of a petition in bankruptcy with respect to such Credit Party, would have accrued
on any Obligation, whether or not a claim is allowed against such Credit Party for such interest in the related bankruptcy proceeding),
payments for early termination of Interest Rate Agreements, fees, expenses, indemnification or otherwise; provided, however, that
the definition of “Obligations” shall not create any guarantee by any Credit Party of (or grant of security interest
by any Credit Party to support, as applicable) any Excluded Swap Obligations of such Credit Party for purposes of determining
any obligations of any Credit Party.


 


“Obligee
Credit Party” as defined in Section 7.7.


 


“Organizational
Documents” means (i) with respect to any corporation, its certificate or articles of incorporation or organization,
as amended, and its by-laws, as amended, (ii) with respect to any limited partnership, its certificate of limited partnership,
as amended, and its partnership agreement, as amended, (iii) with respect to any general partnership, its partnership agreement,
as amended, and (iv) with respect to any limited liability company, its articles of organization, as amended, and its operating
agreement, as amended. In the event any term or condition of this Agreement or any other Credit Document requires any Organizational
Document to be certified by a secretary of state or similar governmental official, the reference to any such “Organizational
Document” shall only be to a document of a type customarily certified by such governmental official.


 






    	 	22	 



     


    

 


“PBGC”
means the Pension Benefit Guaranty Corporation or any successor thereto.


 


“Pension
Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, which is subject to Section 412 of the Internal
Revenue Code or Section 302 of ERISA.


 


“Permitted
Acquisition” means any acquisition by any Company, whether by purchase, merger or otherwise, of all or substantially
all of the assets of, all of the Capital Stock of, or a business line or unit or a division of, any Person; provided,


 


(i)
immediately prior to, and after giving effect thereto, no Default or Event of Default shall have occurred and be continuing
or would result therefrom;


 


(ii)
all transactions in connection therewith shall be consummated, in all material respects, in accordance with all applicable
laws and in conformity with all applicable Governmental Authorizations;


 


(iii)
in the case of the acquisition of Capital Stock, all of the Capital Stock (except for any such Securities in the nature of
directors’ qualifying shares required pursuant to applicable law) acquired or otherwise issued by such Person in
connection with such acquisition shall be owned 100% by a Company, and the Companies shall have taken, or caused to be taken,
as of the date such Person becomes a Subsidiary of any Company, each of the actions set forth in Sections 5.10 and/or 5.11,
as applicable;


 


(iv)
Holdings and its Subsidiaries shall be in compliance with the financial covenants set forth in Section 6.8 on a pro forma basis
after giving effect to such acquisition as of the last day of the Fiscal Quarter most recently ended, (as determined in accordance
with Section 6.8(g));


 


(v)
Company Representative shall have delivered to Administrative Agent at least 30 Business Days prior to such proposed
acquisition, a Compliance Certificate evidencing compliance with Section 6.8 as required under clause (iv) above,
together with all relevant financial information with respect to such acquired assets (including recent financial statements
for the target or assets to be acquired through the period that ends not more than 90 days prior to the Restatement Date (or
such earlier date as the Administrative Agent shall agree), including, without limitation, the aggregate consideration for
such acquisition and any other information required to demonstrate compliance with Section 6.8;


 






    	 	23	 



     


    

 


(vi)
any Person or assets or division as acquired in accordance herewith (y) shall be in the same line or lines of business as the
businesses in which the Credit Parties are engaged on the Restatement Date and (z) for the four quarter period most recently ended
prior to the date of such acquisition, shall have generated positive earnings before income taxes, depreciation, and amortization
during such period (calculated in substantially the same manner as Consolidated Adjusted EBITDA is calculated); and


 


(vii)
the acquisition shall have been approved by the board of directors or other governing body or controlling Person of the
Person acquired or the Person from whom such assets or division is acquired.


 


“Permitted
Liens” means each of the Liens permitted pursuant to Section 6.2.


 


“Person”
means and includes natural persons, corporations, limited partnerships, general partnerships, limited liability companies,
limited liability partnerships, joint stock companies, Joint Ventures, associations, companies, trusts, banks, trust companies,
land trusts, business trusts or other organizations, whether or not legal entities, and Governmental Authorities.


 


“Pledge
and Security Agreement” means the Pledge and Security Agreement to be executed by each Company and Holdings substantially
in the form of Exhibit I, as it may be amended, supplemented or otherwise modified from time to time.


 


“Prime
Rate” means the rate of interest quoted in The Wall Street Journal, Money Rates Section as the Prime Rate (currently
defined as the base rate on corporate loans posted by at least 70% of the nation’s ten (10) largest banks), as in effect
from time to time. The Prime Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged
to any customer. Agent or any other Lender may make commercial loans or other loans at rates of interest at, above or below the
Prime Rate.


 


“Principal
Office” means, for Administrative Agent, such Person’s “Principal Office” as set forth on Appendix
B, or such other office as such Person may from time to time designate in writing to the Company Representative, Administrative
Agent and each Lender; provided, however, that for the purpose of making any payment on the Obligations or any other amount due
hereunder or any other Credit Document, the Principal Office of Administrative Agent shall be 200 West Street, New York, New York,
10282 (or such other location within the City and State of New York as Administrative Agent may from time to time designate in
writing to the Company Representative and each Lender).


 


“Prior
Credit Agreement” as defined in the recitals hereto.


 


“Projections”
as defined in Section 4.8.


 


“Pro
Rata Share” means with respect to all payments, computations and other matters relating to the Term Loan of any Lender,
the percentage obtained by dividing (a) the Term Loan Exposure of that Lender, by (b) the aggregate Term Loan Exposure
of all Lenders.


 






    	 	24	 



     


    

 


“Qualified
Capital Stock” means any Capital Stock other than Disqualified Stock.


 


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


 


“Real
Estate Asset” means, at any time of determination, any interest (fee, leasehold or otherwise) then owned by any Credit
Party or Subsidiary thereof in any real property.


 


“Real
Estate Mortgage Requirements” means, with respect to Real Estate Assets, the following:


 


(i)
fully executed and notarized Mortgages, in proper form for recording in all appropriate places in all applicable jurisdictions,
encumbering each Real Estate Asset listed in Schedule 3.1(i) (each, a “Mortgaged Property”);


 


(ii)
in the case of each Leasehold Property that is a Mortgaged Property, (a) a Landlord Consent and Estoppel and (b) evidence that
such Leasehold Property is a Recorded Leasehold Interest;


 


(iii)
(a) with respect to all fee-simple Real Estate Assets, ALTA mortgagee title insurance policies or unconditional commitments therefor
issued by one or more title companies reasonably satisfactory to Collateral Agent with respect to each Mortgaged Property (each,
a “Title Policy”), in amounts not less than the reasonably estimated fair market value of each Mortgaged Property,
together with a title report issued by a title company with respect thereto, dated not more than thirty days prior to the date
of issuance of such Title Policy, (b) with respect to each Leasehold Property that is a Mortgaged Property, a title report reasonably
satisfactory to Collateral Agent issued by a title company with respect thereto, dated not more than thirty days prior to the
date of issuance of such Title Policy and issued by a title company reasonably satisfactory to Collateral Agent, (c) copies of
all recorded documents listed as exceptions to title or otherwise referred to therein, each in form and substance reasonably satisfactory
to Collateral Agent and (d) evidence satisfactory to Collateral Agent that such Credit Party has paid to the title company or
to the appropriate Governmental Authorities all expenses and premiums of the title company and all other sums required in connection
with the issuance of each Title Policy and all recording and stamp taxes (including mortgage recording and intangible taxes) payable
in connection with recording the Mortgages for each Mortgaged Property in the appropriate real estate records;


 


(iv)
evidence of flood insurance with respect to each Flood Hazard Property that is located in a community that participates in
the National Flood Insurance Program, in each case in compliance with any applicable regulations of the Board of Governors of
the Federal Reserve System, in form and substance reasonably satisfactory to Collateral Agent; and


 






    	 	25	 



     


    

 


(v)
ALTA surveys of all Mortgaged Properties, certified to Collateral Agent and dated not more than thirty days prior to the date
of the issuance of the Title Policy.


 


“Record
Document” means, with respect to any Leasehold Property, (i) the lease evidencing such Leasehold Property or a memorandum
thereof, executed and acknowledged by the owner of the affected real property, as lessor, or (ii) if such Leasehold Property was
acquired or subleased from the holder of a Recorded Leasehold Interest, the applicable assignment or sublease document, executed
and acknowledged by such holder, in each case in form sufficient to give such constructive notice upon recordation and otherwise
in form reasonably satisfactory to Collateral Agent.


 


“Recorded
Leasehold Interest” means a Leasehold Property with respect to which a Record Document has been recorded in all places
necessary or desirable, in Administrative Agent’s reasonable discretion, to give constructive notice of such Leasehold Property
to third-party purchasers and encumbrances of the affected real property.


 


“Register”
as defined in Section 2.6(b).


 


“Regulation D”
means Regulation D of the Board of Governors of the Federal Reserve System, as in effect from time to time.


 


“Related
Fund” means, with respect to any Lender that is an investment fund, any other investment fund that invests in commercial
loans and that is managed or advised by the same investment advisor as such Lender or by an Affiliate of such investment advisor.


 


“Release”
means any release, spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal, discharge, dispersal,
dumping, leaching or migration of any Hazardous Material into the indoor or outdoor environment (including the abandonment or
disposal of any barrels, containers or other closed receptacles containing any Hazardous Material), including the movement of
any Hazardous Material through the air, soil, surface water or groundwater.


 


“Replacement
Lender” as defined in Section 2.22.


 


“Required
Prepayment Date” as defined in Section 2.14(c).


 


“Requisite
Class Lenders” means, at any time of determination, but subject to the provisions of Section 2.21, (i) for the
Class of Lenders having Term Loan Exposure, Lenders holding more than 50% of the aggregate Term Loan Exposure of all Lenders.


 


“Requisite
Lenders” means one or more Lenders having or holding Term Loan Exposure and representing more than 50% of the sum of
the aggregate Term Loan Exposure of all Lenders.


 






    	 	26	 



     


    

 


“Restatement
Date” means April 20, 2018.


 


“Restatement
Date Certificate” means a Restatement Date Certificate substantially in the form of Exhibit G-1.


 


“Restatement
Date Disposition” means the disposition of certain assets and Persons contemplated by that certain Equity Securities
Purchase Agreement dated February 20, 2018, by and among Holdings, Meridian Waste Operations, Inc., Meridian Waste Acquisitions,
LLC and Jeffrey S. Cosman


 


“Restricted
Junior Payment” means (i) any dividend or other distribution, direct or indirect, on account of any shares of any
class of Capital Stock of Holdings or any of its Subsidiaries now or hereafter outstanding, except a dividend payable solely in
shares of that class of Capital Stock to the holders of that class; (ii) any redemption, retirement, sinking fund or similar
payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of Capital Stock of Holdings
or any of its Subsidiaries now or hereafter outstanding; (iii) any payment made to retire, or to obtain the surrender of,
any outstanding warrants, options or other rights to acquire shares of any class of Capital Stock of Holdings or any of its Subsidiaries
now or hereafter outstanding; (iv) management or similar fees payable to any Equity Investor or any of its Affiliates; (v) payment
of any earn-out payment or other deferred portion of the purchase price for any Permitted Acquisitions (other than payments made
solely in Qualified Capital Stock of Holdings) and (vi) any payment or prepayment of principal of, premium, if any, or interest
on, or redemption, purchase, retirement, defeasance (including in-substance or legal defeasance), sinking fund or similar payment
with respect to, the Subordinated Debt or any other Indebtedness that is subordinated to the Obligations, or secured by Liens
subordinated to the Obligations.


 


“S&P”
means Standard & Poor’s Ratings Group, a division of The McGraw Hill Corporation.


 


“Sanctioned
Country” means, at any time, a country, territory or region that is, or whose government is, the subject or target of
any Sanctions, including, as of the Closing Date, the Crimea region of Ukraine, Cuba, Iran, North Korea, Sudan, and Syria.


 


“Sanctioned
Person” means, at any time, any Person with whom dealings are restricted or prohibited under Sanctions, including (i)
any Person listed in any Sanctions-related list of designated Persons maintained by the U.S. (including by OFAC, the U.S. Department
of the Treasury, or the U.S. Department of State), or by the United Nations Security Council, the European Union or any EU member
state, Her Majesty’s Treasury of the United Kingdom or any other relevant sanctions authority, (ii) any Person located,
operating, organized or resident in a Sanctioned Country or (iii) any Person owned or controlled, directly or indirectly, by any
such Person described in clause (i) or (ii) of this definition.


 


“Sanctions”
means sanctions or trade embargoes enacted, imposed, administered or enforced from time to time by (i) the U.S. government,
including those administered by OFAC, U.S. Department of State, or U.S. Department of Commerce, (ii) the United Nations Security
Council, the European Union or any of its member states, Her Majesty’s Treasury of the United Kingdom, or (iii) any other
relevant sanctions authority.


 






    	 	27	 



     


    

 


“Secured
Parties” has the meaning assigned to that term in the Pledge and Security Agreement.


 


“Securities”
means any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any
profit-sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured
or unsecured, convertible, subordinated or otherwise, or in general any instruments commonly known as “securities”
or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition
of, or any right to subscribe to, purchase or acquire, any of the foregoing.


 


“Securities
Act” means the Securities Act of 1933, as amended from time to time, and any successor statute.


 


“Solvency
Certificate” means a Solvency Certificate of the chief financial officer of Holdings substantially in the form of Exhibit
G-2.


 


“Solvent”
means, with respect to any Credit Party, that as of the date of determination, both (i) (a) the sum of such Credit Party’s
debt (including contingent liabilities) does not exceed the present fair saleable value of such Credit Party’s present assets;
(b) such Credit Party’s capital is not unreasonably small in relation to its business as contemplated on the Restatement
Date and reflected in the Projections or with respect to any transaction contemplated or undertaken after the Restatement Date;
and (c) such Person has not incurred and does not intend to incur, or believe (nor should it reasonably believe) that it will
incur, debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise); and (ii) such Person
is “solvent” within the meaning given that term and similar terms under applicable laws relating to fraudulent transfers
and conveyances. For purposes of this definition, the amount of any contingent liability at any time shall be computed as the
amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be
expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual
under Statement of Financial Accounting Standard No. 5).


 


“Specified
Events of Default” as defined in Section 10.22.


 


“Subject
Transaction” as defined in Section 6.8(i).


 


“Subordinated
Debt” means (i) that certain Promissory Note dated May 15, 2014, issued by Here To Serve Holding Corp., a Delaware corporation,
as assumed by Holdings, in the principal amount of $491,666.67, payable to the order of Charles E. Barcom, Jr., as amended per
instrument dated December 18, 2015, (ii) that certain Promissory Note dated May 15, 2014, issued by Here To Serve Holding Corp,
a Delaware corporation, as assumed by Holdings, in the principal amount of $491,666.67, payable to the order of Edward Kniep,
IV as amended per instrument dated December 18, 2015, and (iii) Promissory Note dated May 15, 2014, issued by Here To Serve Holding
Corp, a Delaware corporation, as assumed by Holdings, in the principal amount of $491,666.67, payable to the order of Joseph D.
Reich as amended per instrument dated December 18, 2015.


 






    	 	28	 



     


    

 


“Subsidiary”
means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or
other business entity of which more than 50% of the total voting power of shares of stock or other ownership interests entitled
(without regard to the occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, managers,
trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management and
policies thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries
of that Person or a combination thereof; provided, in determining the percentage of ownership interests of any Person controlled
by another Person, no ownership interest in the nature of a “qualifying share” of the former Person shall be deemed
to be outstanding.


 


“Swap
Obligation” means, with respect to any Credit Party, 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.


 


“Tax”
means any present or future tax, levy, impost, duty, assessment, charge, fee, deduction or withholding of any nature and whatever
called, by whomsoever, on whomsoever and wherever imposed, levied, collected, withheld or assessed; provided, “Tax
on the overall net income” of a Person shall be construed as a reference to a tax imposed by the jurisdiction in which that
Person is organized or in which that Person’s applicable principal office (and/or, in the case of a Lender, its lending
office) is located or in which that Person (and/or, in the case of a Lender, its lending office) is deemed to be doing business
on all or part of the net income, profits or gains (whether worldwide, or only insofar as such income, profits or gains are considered
to arise in or to relate to a particular jurisdiction, or otherwise) of that Person (and/or, in the case of a Lender, its applicable
lending office).


 


“Term
Loan” means the Existing Loans as restructured pursuant to Section 2.1 of this Agreement.


 


“Term
Loan Commitment” means the commitment of a Lender to make or otherwise fund a Term Loan and “Term Loan Commitments”
means such commitments of all Lenders in the aggregate, which commitments terminated on the First Restatement Date.


 


“Term
Loan Exposure” means, with respect to any Lender, as of any date of determination, the outstanding principal amount
of the Term Loans of such Lender.


 


“Term
Loan Maturity Date” means the earlier of (i) December 22, 2020, and (ii) the date that all Term Loans shall become due
and payable in full hereunder, whether by acceleration or otherwise.


 


“Term
Loan Note” means a promissory note in the form of Exhibit B-1, as it may be amended, supplemented or otherwise
modified from time to time.


 


“Terminated
Lender” as defined in Section 2.22.


 






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“Third
Amendment” means that certain Third Amendment to Amended and Restated Credit and Guaranty Agreement, dated as of the
Third Amendment Effective Date, by and among the Administrative Agent, Holdings and the Companies.


 


“Third
Amendment Effective Date” means January 5, 2018.


 


“Title
Policy” as defined in the definition of “Real Estate Mortgage Requirements”.


 


“Transaction
Costs” means the fees, costs and expenses payable by Holdings or any Company on or before the Restatement Date in connection
with the transactions contemplated by the Credit Documents, to the extent approved in writing by Administrative Agent.


 


“Type
of Loan” means with respect to Term Loans, a Base Rate Loan or a LIBOR Rate Loan.


 


“UCC”
means the Uniform Commercial Code (or any similar or equivalent legislation) as in effect in any applicable jurisdiction.


 


1.2.
Accounting Terms. Except as otherwise expressly provided herein, all accounting terms not otherwise defined herein shall have
the meanings assigned to them in conformity with GAAP. Financial statements and other information required to be delivered by
Holdings to Lenders pursuant to Section 5.1(a), 5.1(b) and 5.1(c) shall be prepared in accordance with GAAP as in effect at the
time of such preparation (and delivered together with the reconciliation statements provided for in Section 5.1(e), if applicable).
Subject to the foregoing, calculations in connection with the definitions, covenants and other provisions hereof shall utilize
accounting principles and policies in conformity with those used to prepare the financial statements for the Fiscal Year ending
December 31, 2016. Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation
of any financial covenant) contained herein, Indebtedness of the Credit Parties shall be deemed to be carried at 100% of the outstanding
principal amount thereof and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities shall be disregarded. For
purposes of determining pro forma compliance with any financial covenant as of any date prior to the first date on which such
financial covenant is to be tested hereunder, the level of any such financial covenant shall be deemed to be the covenant level
for such first test date.


 


1.3.
Interpretation, etc. Any of the terms defined herein may, unless the context otherwise requires, be used in the singular or
the plural, depending on the reference. References herein to any Section, Appendix, Schedule or Exhibit shall be to a Section,
an Appendix, a Schedule or an Exhibit, as the case may be, hereof unless otherwise specifically provided. The use herein of the
word “include” or “including,” when following any general statement, term or matter, shall not be construed
to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar
items or matters, whether or not non limiting language (such as “without limitation” or “but not limited to”
or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters
that fall within the broadest possible scope of such general statement, term or matter. References to agreements and other contractual
instruments shall be deemed to include subsequent amendments, assignments and other modifications thereto, but only to the extent
such amendments, assignments and other modifications are not prohibited by the terms of this Agreement or any other Credit Document.
References to Persons include their respective permitted successors and assigns. References to statutes and related regulations
shall include any amendments of the same and any successor statutes and regulations.


 






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SECTION
2. LOANS


 


2.1.
Term Loans.


 


The
Companies, Agents and Lenders acknowledge and agree that (A) as of the Restatement Date, the aggregate outstanding principal amount
of the loans outstanding under the Prior Credit Agreement before giving effect to the amendment and restatement contemplated by
this Agreement is equal to $82,938,249.24 (the “Existing Loans”), (B) on the Restatement Date, the Existing
Loans are being prepaid in an aggregate amount equal to $75,810,000 (consisting of a cash prepayment in an amount equal to $70,810,000
and the issuance of $5,000,000 of Series A Preferred Units in Meridian Waste Holdings, LLC, a Delaware limited liability company),
(C) interest accrued but unpaid for the Interest Periods ending on February 28, 2018 and March 31, 2018 in an aggregate amount
equal to $1,030,084.55 shall be paid in kind by adding the amount of such accrued interest to the outstanding principal amount
of the Loans and (D) the remaining outstanding balance of such Existing Loans and such accrued interest paid in kind shall be
restructured as Term Loans hereunder with an aggregate outstanding principal balance of $8,158,333.79 and shall continue to be
outstanding hereunder.


 


2.2.
Reserved.


 


2.3.
Reserved.


 


2.4.
Reserved.


 


2.5.
Use of Proceeds. No portion of the proceeds of any Credit Extension shall be used in any manner that causes or might cause
such Credit Extension or the application of such proceeds to violate Regulation T, Regulation U or Regulation X
of the Board of Governors of the Federal Reserve System or any other regulation thereof or to violate the Exchange Act. The Credit
Parties will not, directly or indirectly, use the proceeds of the Loans, or lend, contribute or otherwise make available such
proceeds to any subsidiary, joint venture partner or other Person, (i) to fund any activities or business of or with any Person,
or in any country or territory, that, at the time of such funding, is, or whose government is, the subject of Sanctions, (ii)
in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loans,
whether as underwriter, advisor, investor, or otherwise) or (iii) in furtherance of an offer, payment, promise to pay, or authorization
of the payment or giving of money, or anything else of value, to any Person in violation of any Sanctions or Anti-Corruption Laws.


 






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2.6.
Evidence of Debt; Register; Lenders’ Books and Records; Notes.


 


(a)
Lenders’ Evidence of Debt. Each Lender shall maintain on its internal records an account or accounts evidencing the
Obligations of the Companies to such Lender, including the amounts of the Loans made by it and each repayment and prepayment in
respect thereof. Any such recordation shall be conclusive and binding on the Companies, absent manifest error; provided,
that the failure to make any such recordation, or any error in such recordation, shall not affect the Companies’ Obligations
in respect of any applicable Loans; and provided further, in the event of any inconsistency between the Register and any
Lender’s records, the recordations in the Register shall govern.


 


(b)
Register. Administrative Agent shall maintain at its Principal Office a register for the recordation of the names and addresses
of Lenders and Loans of each Lender from time to time (the “Register”). The Register shall be available for
inspection by any Company or any Lender at any reasonable time and from time to time upon reasonable prior notice. Administrative
Agent shall record in the Register the Loans, and each repayment or prepayment in respect of the principal amount of the Loans,
and any such recordation shall be conclusive and binding on each Company and each Lender, absent manifest error; provided,
failure to make any such recordation, or any error in such recordation, shall not affect any Company’s Obligations in respect
of any Loan. Each Company hereby designates the entity serving as Administrative Agent to serve as such Company’s agent
solely for purposes of maintaining the Register as provided in this Section 2.6, and each Company hereby agrees that, to the extent
such entity serves in such capacity, the entity serving as Administrative Agent and its officers, directors, employees, agents
and affiliates shall constitute “Indemnitees.”


 


(c)
Notes. If so requested by any Lender by written notice to the Company Representative (with a copy to Administrative Agent)
at least two Business Days prior to the Restatement Date, or at any time thereafter, the Companies shall execute and deliver to
such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant
to Section 10.6) on the Restatement Date (or, if such notice is delivered after the Restatement Date, promptly after Company Representative’s
receipt of such notice) a Note or Notes to evidence such Lender’s Term Loan.


 


2.7.
Interest on Loans.


 


(a)
Except as otherwise set forth herein, each Class of Loan shall bear interest on the unpaid principal amount thereof from the date
made through repayment (whether by acceleration or otherwise) as follows:


 


(i)
if a Base Rate Loan, at the Base Rate plus the Applicable Margin; and


 


(ii)
if a LIBOR Rate Loan, at the Adjusted LIBOR Rate plus the Applicable Margin.


 


(b)
The basis for determining the rate of interest with respect to any Loan, and the Interest Period with respect to any LIBOR Rate
Loan, shall be selected by the Company Representative and notified to Administrative Agent and Lenders pursuant to the applicable
Funding Notice or Conversion/Continuation Notice, as the case may be. If on any day a Loan is outstanding with respect to which
a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms
hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate
Loan.


 






    	 	32	 



     


    

 


(c)
In connection with LIBOR Rate Loans there shall be no more than five (5) Interest Periods outstanding at any time. In the event
the Company Representative fails to specify between a Base Rate Loan or a LIBOR Rate Loan in the applicable Funding Notice or
Conversion/Continuation Notice, such Loan (if outstanding as a LIBOR Rate Loan) will be automatically converted into a Base Rate
Loan on the last day of the then-current Interest Period for such Loan (or if outstanding as a Base Rate Loan will remain as,
or (if not then outstanding) will be made as, a Base Rate Loan). In the event the Company Representative fails to specify an Interest
Period for any LIBOR Rate Loan in the applicable Funding Notice or Conversion/Continuation Notice, the Company Representative
shall be deemed to have selected an Interest Period of one month. As soon as practicable after 10:00 a.m. (New York City time)
on each Interest Rate Determination Date, Administrative Agent shall determine (which determination shall, absent manifest error,
be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Rate Loans for which an interest
rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone
confirmed in writing) to the Company Representative and each Lender.


 


(d)
Interest payable pursuant to Section 2.7(a) shall be computed on the basis of a 360-day year, in each case for the actual number
of days elapsed in the period during which it accrues. In computing interest on any Loan, the date of the making of such Loan
or the first day of an Interest Period applicable to such Loan or, with respect to a Base Rate Loan being converted from a LIBOR
Rate Loan, the date of conversion of such LIBOR Rate Loan to such Base Rate Loan, as the case may be, shall be included, and the
date of payment of such Loan or the expiration date of an Interest Period applicable to such Loan or, with respect to a Base Rate
Loan being converted to a LIBOR Rate Loan, the date of conversion of such Base Rate Loan to such LIBOR Rate Loan, as the case
may be, shall be excluded; provided, if a Loan is repaid on the same day on which it is made, one day’s interest
shall be paid on that Loan.


 


(e)
Except as otherwise set forth herein, interest on each Loan shall be payable in arrears on and to (i) each Interest Payment Date
applicable to that Loan; (ii) upon any prepayment of that Loan, whether voluntary or mandatory, to the extent accrued on the amount
being prepaid; and (iii) at maturity, including final maturity.


 


(f)
Notwithstanding any of the foregoing to the contrary, accrued interest on the Term Loans will be payable in cash. 


 


2.8.
Conversion/Continuation.


 


(a)
Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, the Companies
shall have the option:


 


(i)
to convert at any time all or any part of any Term Loan equal to $500,000 and integral multiples of $100,000 in excess of that
amount from one Type of Loan to another Type of Loan; provided, a LIBOR Rate Loan may only be converted on the expiration
of the Interest Period applicable to such LIBOR Rate Loan unless the Companies shall pay all amounts due under Section 2.17 in
connection with any such conversion; or


 






    	 	33	 



     


    

 


(ii)
upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal
to $500,000 and integral multiples of $100,000 in excess of that amount as a LIBOR Rate Loan.


 


(b)
The Company Representative shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New
York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate
Loan) and at least three Business Days in advance of the proposed Conversion/Continuation Date (in the case of a conversion to,
or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion
to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related
Interest Rate Determination Date, and the Companies shall be bound to effect a conversion or continuation in accordance therewith.


 


2.9.
Default Interest. Upon the occurrence and during the continuance of an Event of Default, the principal amount of all Loans
outstanding and, to the extent permitted by applicable law, any interest payments on the Loans or any fees or other amounts owed
hereunder, shall thereafter bear interest (including post-petition interest in any proceeding under the Bankruptcy Code or other
applicable bankruptcy laws) payable on demand at a rate that is 2.00% per annum in excess of the interest rate otherwise payable
hereunder with respect to the applicable Loans (or, in the case of any such fees and other amounts, at a rate which is 2.00% per
annum in excess of the interest rate otherwise payable hereunder for Base Rate Loans); provided, any LIBOR Rate Loans may
be converted to Base Rate Loans at the election of the Administrative Agent at any time after the occurrence of such Event of
Default (irrespective of whether the Interest Period in effect at the time of such conversion has expired) and thereupon shall
become Base Rate Loans and shall thereafter bear interest payable upon demand at a rate which is 2.00% per annum in excess of
the interest rate otherwise payable hereunder for Base Rate Loans. Payment or acceptance of the increased rates of interest provided
for in this Section 2.9 is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default
or otherwise prejudice or limit any rights or remedies of Administrative Agent or any Lender.


 


2.10.
Fees.


 


Each
Company agrees to pay to Agents such other fees in the amounts and at the times separately agreed upon, including without limitation,
the fees set forth in the Fee Letter;


 


2.11.
Scheduled Payments.


 


(a)
Scheduled Installments. The principal amounts of the Term Loans shall be repaid in consecutive quarterly installments of
$350,000 (each, an “Installment”) on the last day of each Fiscal Quarter (each, an “Installment Date”),
commencing on June 30, 2018. Notwithstanding the foregoing, (x) such Installments shall be reduced in connection with any voluntary
or mandatory prepayments of the Term Loans, in accordance with Sections 2.12 and 2.13, as applicable; and (y) the Term Loans,
together with all other amounts owed hereunder with respect thereto, shall be paid in full no later than the Term Loan Maturity
Date.


 






    	 	34	 



     


    

 


2.12.
Voluntary Prepayments/Commitment Reductions.


 


(a)
Voluntary Prepayments.


 


(i)
Any time and from time to time:


 


(1)
with respect to Base Rate Loans, the Companies may prepay any such Loans on any Business Day in whole or in part, in an
aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess of that amount; and


 


(2)
with respect to LIBOR Rate Loans, the Companies may prepay any such Loans on any Business Day in whole or in part (together
with any amounts due pursuant to Section 2.17(c)) in an aggregate minimum amount of $500,000 and integral multiples of
$100,000 in excess of that amount.


 


(ii)
All such prepayments shall be made:


 


(1)
upon not less than one Business Day’s prior written or telephonic notice in the case of Base Rate Loans; and


 


(2)
upon not less than three Business Days’ prior written or telephonic notice in the case of LIBOR Rate Loans,


 


in
each case given by the Company Representative to Administrative Agent by 12:00 p.m. (New York City time) on the date required
and, if given by telephone, promptly confirmed in writing to Administrative Agent (and Administrative Agent will promptly transmit
such telephonic or original notice for Term Loans by telefacsimile or telephone to each Lender). Upon the giving of any such notice,
the principal amount of the Loans specified in such notice shall become due and payable on the prepayment date specified therein.
Any such voluntary prepayment shall be applied as specified in Section 2.14(b) with respect to Term Loans.


 






    	 	35	 



     


    

 


(b)
Voluntary Commitment Reductions.


 


(i)
The Companies may, upon not less than three Business Days’ prior written or telephonic notice from the Company Representative
confirmed in writing to Administrative Agent (which original written or telephonic notice Administrative Agent will promptly transmit
by telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently
reduce in part any unused portion of the Term Loan Commitments; provided, any such partial reduction of the Term Loan Commitments
shall be in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess of that amount.


 


(ii)
The Company Representative’s notice to Administrative Agent shall designate the date (which shall be a Business Day) of
such termination or reduction and the amount of any partial reduction.


 


2.13.
Mandatory Prepayments/Commitment Reductions.


 


(a)
Asset Sales. No later than the first Business Day following the date of receipt by any Credit Party of any Net Asset Sale
Proceeds in excess of $250,000 in the aggregate since the Restatement Date (excluding, for the avoidance of doubt, any proceeds
of the Restatement Date Disposition), the Companies shall prepay the Loans as set forth in Section 2.14(b) in an aggregate amount
equal to such Net Asset Sale Proceeds; provided, so long as no Default or Event of Default shall have occurred and be continuing,
upon delivery of a written notice to Administrative Agent, the Companies shall have the option, directly or through one or more
Subsidiaries, to invest Net Asset Sale Proceeds (the “Asset Sale Reinvestment Amounts”) in (1) long-term productive
assets of the general type used in the business of the Companies if such assets are purchased or constructed within one hundred
eighty (180) days following receipt of such Net Asset Sale Proceeds (and so long as any such individual or aggregate investment
in the amount of $250,000 or more has been consented to by Administrative Agent and Requisite Lenders) or (2) Permitted Acquisitions
if (x) a definitive purchase agreement with respect to such Permitted Acquisition is executed within one hundred twenty (120)
days following receipt of such Net Asset Proceeds and (y) the transaction contemplated by such purchase agreement is consummated
within one hundred eighty (180) days of receipt thereof; provided further, pending any such reinvestment all Asset Sale
Reinvestment Amounts shall be held at all times prior to such reinvestment, in a Controlled Account in form and substance reasonably
acceptable to Administrative Agent. In the event that the Asset Sale Reinvestment Amounts are not reinvested by the Companies
prior to the earliest of (i) the last day of such one hundred twenty (120) day period (if a definitive purchase agreement with
respect to a Permitted Acquisition has not been executed in accordance with the other provisions of this Agreement), (ii) the
last day of such one hundred eighty (180) day period (if a definitive purchase agreement with respect to a Permitted Acquisition
has been executed but the transactions contemplated thereby have not been consummated in accordance with the other provisions
of this Agreement), and (iii) the date of the occurrence of an Event of Default, Administrative Agent may apply such Asset Sale
Reinvestment Amounts to the Obligations as set forth in Section 2.14(b).


 






    	 	36	 



     


    

 


(b)
Insurance/Condemnation Proceeds. No later than the first Business Day following the date of receipt by Holdings or any
of its Subsidiaries, or Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds, the Companies shall prepay
the Loans as set forth in Section 2.14(b) in an aggregate amount equal to such Net Insurance/Condemnation Proceeds; provided,
(i) so long as no Default or Event of Default shall have occurred and be continuing, and (ii) to the extent that aggregate Net
Insurance/Condemnation Proceeds from the Restatement Date through the applicable date of determination do not exceed $250,000,
the Companies shall have the option, directly or through one or more of its Subsidiaries to invest such Net Insurance/Condemnation
Proceeds within one hundred eighty days of receipt thereof in long term productive assets of the general type used in the business
of Holdings and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets
thereof; provided further, pending any such reinvestment all Net Insurance/Condemnation Proceeds shall be held at all times
prior to such reinvestment, in a Controlled Account in form and substance reasonably acceptable to Administrative Agent. In the
event that the Net Insurance/Condemnation Proceeds are not reinvested by the Companies prior to the earlier of (i) the last day
of such one hundred (180) day period and (ii) date of the occurrence of an Event of Default, Administrative Agent may apply such
Net Insurance/Condemnation Proceeds to the Obligations as set forth in Section 2.14(b).


 


(c)
Issuance of Equity Securities. On the date of receipt by Holdings of any Cash proceeds from a capital contribution to,
or the issuance of any Capital Stock of, Holdings or any of its Subsidiaries (other than Capital Stock of Holdings issued (i)
pursuant to any employee stock or stock option compensation plan, (ii) for purposes approved in writing by Administrative Agent),
the Companies shall prepay the Loans as set forth in Section 2.14(b) in an aggregate amount equal to 50% of such proceeds, net
of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, in each case, paid to
non-Affiliates, including reasonable legal fees and expenses.


 


(d)
Issuance of Debt. On the date of receipt by Holdings or any of its Subsidiaries of any Cash proceeds from the incurrence
of any Indebtedness of Holdings or any of its Subsidiaries (other than with respect to any Indebtedness permitted to be incurred
pursuant to Section 6.1), the Companies shall prepay the Loans as set forth in Section 2.14(b) in an aggregate amount equal to
100% of such proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith,
in each case, paid to non-Affiliates, including reasonable legal fees and expenses.


 


(e)
Consolidated Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing
with Fiscal Year ending December 31, 2016), the Companies shall, no later than 120 days after the end of such Fiscal Year, prepay
the Loans as set forth in Section 2.14(b) in an aggregate amount equal to 50% of such Consolidated Excess Cash Flow. 


 


(f)
Reserved. 


 


(g)
Reserved.


 






    	 	37	 



     


    

 


(h)
Tax Refunds. On the date of receipt by Holdings or any of its Subsidiaries of any tax refunds in excess of $250,000 in
the aggregate in any Fiscal Year, the Companies shall prepay Loans as set forth in Section 2.14(b) in the amount of such tax refunds
in excess of $250,000.


 


(i)
Payments for Acquisitions. On the date of receipt, on or after the Restatement Date, by Holdings or any of its Subsidiaries
of any payment in connection with any acquisition (including, but not limited to, all proceeds from releases of any escrowed amounts
and all payments received in respect of any indemnification obligation but excluding any working capital adjustments and any amounts
that are applied for the purpose of remedying any condition or event giving rise to the underlying payment (whether for indemnification
or otherwise)), the Companies shall prepay Loans as set forth in Section 2.14(b) in the amount of 100% of such payments.


 


(j)
Prepayment Certificate. Concurrently with any prepayment of the Loans pursuant to Sections 2.13(a) through 2.13(e), the
Company Representative shall deliver to Administrative Agent a certificate of an Authorized Officer demonstrating the calculation
of the amount of the applicable net proceeds or Consolidated Excess Cash Flow and compensation owing to Lenders under Section
2.12(c) or (d), if any, as the case may be. In the event that the Companies shall subsequently determine that the actual amount
received exceeded the amount set forth in such certificate, the Companies shall promptly make an additional prepayment of the
Loans in an amount equal to such excess, and the Company Representative shall concurrently therewith deliver to Administrative
Agent a certificate of an Authorized Officer demonstrating the derivation of such excess.


 


2.14.
Application of Prepayments/Reductions.


 


(a)
Reserved.  


 


(b)
Application of Prepayments by Type of Loans. Any voluntary prepayments of Term Loans pursuant to Section 2.12 and any mandatory
prepayment of any Loan pursuant to Section 2.13 shall be applied as follows:


 


first,
to the payment of all fees, including any fees and amounts payable pursuant to the Fee Letter, and all expenses specified in Section
10.2, to the full extent thereof;


 


second,
to the payment of any accrued interest at the Default Rate, if any;


 


third,
to the payment of any accrued interest (other than Default Rate interest);


 


fourth,
to prepay Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof) and shall be
further applied in inverse order of maturity to reduce the remaining scheduled installments of principal of the Term Loans;


 






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Notwithstanding
the foregoing, no amounts received from any Credit Party (or proceeds of any such Credit Party’s property) shall be applied
to any Obligations under any Interest Rate Agreement the guaranty of which by such Credit Party is an Excluded Swap Obligation.


 


(c)
Application of Prepayments of Loans to Base Rate Loans and LIBOR Rate Loans. Considering each Class of Loans being prepaid
separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to
LIBOR Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by the Companies pursuant
to Section 2.17(c).


 


2.15.
General Provisions Regarding Payments.


 


(a)
All payments by Companies of principal, interest, fees and other Obligations shall be made in Dollars in immediately available
funds, without defense, recoupment, setoff or counterclaim, free of any restriction or condition, and delivered to Administrative
Agent not later than 12:00 p.m. (New York City time) on the date due by wire transfer to an account designated by Administrative
Agent from time to time that is maintained by Administrative Agent or its Affiliates for the account of the Lenders or Administrative
Agent; provided that payments required to be made directly to Issuing Bank shall be so made. For purposes of computing interest
and fees, funds received by Administrative Agent after that time on such due date shall be deemed to have been paid by Companies
on the next Business Day  


 


(b)
All payments in respect of the principal amount of any Loan shall be accompanied by payment of accrued interest on the principal
amount being repaid or prepaid, and all such payments (and, in any event, any payment received in respect of any Loan on a date
when interest or premium is due and payable with respect to such Loan) shall be applied to the payment of interest and premium
then due and payable before application to principal.


 


(c)
Administrative Agent shall promptly distribute to each Lender at such address as such Lender shall indicate in writing, such Lender’s
applicable Pro Rata Share of all payments and prepayments of principal and interest due hereunder, together with all other amounts
due with respect thereto, including, without limitation, all fees payable with respect thereto, to the extent received by Administrative
Agent.


 


(d)
Notwithstanding the foregoing provisions hereof, if any Conversion/Continuation Notice is withdrawn as to any Affected Lender
or if any Affected Lender makes Base Rate Loans in lieu of its Pro Rata Share of any LIBOR Rate Loans, Administrative Agent shall
give effect thereto in apportioning payments received thereafter.


 


(e)
Subject to the provisos set forth in the definition of “Interest Period,” whenever any payment to be made hereunder
shall be stated to be due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day
and such extension of time shall be included in the computation of the payment of interest hereunder or of the commitment fees
hereunder.


 


(f)
Reserved.


 






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(g)
Administrative Agent shall deem any payment by or on behalf of the Companies hereunder that is not made in same day funds prior
to 12:00 p.m. (New York City time) to be a non-conforming payment. Any such payment shall not be deemed to have been received
by Administrative Agent until the later of (i) the time such funds become available funds, and (ii) the applicable next Business
Day. Administrative Agent shall give prompt telephonic notice to the Company Representative and each applicable Lender (confirmed
in writing) if any payment is non-conforming. Any non-conforming payment may constitute or become a Default or Event of Default
in accordance with the terms of Section 8.1(a). Interest shall continue to accrue on any principal as to which a non-conforming
payment is made until such funds become available funds (but in no event less than the period from the date of such payment to
the next succeeding applicable Business Day) at the Default Rate determined pursuant to Section 2.9 from the date such amount
was due and payable until the date such amount is paid in full.


 


(h)
If an Event of Default shall have occurred and not otherwise been waived, and the Obligations shall have become due and payable
in full hereunder, whether by acceleration, maturity or otherwise, all payments or proceeds received by any Agent hereunder or
under any Collateral Document in respect of any of the Obligations (including, but not limited to, Obligations arising under any
Interest Rate Agreement that are owing to any Lender or Lender Counterparty), including, but not limited to all proceeds received
by any Agent in respect of any sale, any collection from, or other realization upon all or any part of the Collateral, shall be
applied in full or in part as follows: first, to the payment of all costs and expenses of such sale, collection or other
realization, including reasonable compensation to each Agent and its agents and counsel, and all other expenses, liabilities and
advances made or incurred by any Agent in connection therewith, and all amounts for which any Agent is entitled to indemnification
hereunder or under any Collateral Document (in its capacity as an Agent and not as a Lender) and all advances made by any Agent
under any Collateral Document for the account of the applicable Grantor, and to the payment of all costs and expenses paid or
incurred by any Agent in connection with the exercise of any right or remedy hereunder or under any Collateral Document, all in
accordance with the terms hereof or thereof; second, to the extent of any excess of such proceeds, to the payment of all
other Obligations for the ratable benefit of the Lenders and the Lender Counterparties; and third, to the extent of any
excess of such proceeds, to the payment to or upon the order of such Grantor or to whosoever may be lawfully entitled to receive
the same or as a court of competent jurisdiction may direct.


 


2.16.
Ratable Sharing. Lenders hereby agree among themselves that, except as otherwise provided in the Collateral Documents with
respect to amounts realized from the exercise of rights with respect to Liens on the Collateral or in the Fee Letter, if any of
them shall, whether by voluntary payment (other than a voluntary prepayment of Loans made and applied in accordance with the terms
hereof), through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement
of any right under the Credit Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under
the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, fees and other
amounts then due and owing to such Lender hereunder or under the other Credit Documents (collectively, the “Aggregate
Amounts Due” to such Lender) which is greater than the proportion received by any other Lender in respect of the Aggregate
Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall (a) notify Administrative
Agent and each other Lender of the receipt of such payment and (b) apply a portion of such payment to purchase participations
(which it shall be deemed to have purchased from each seller of a participation simultaneously upon the receipt by such seller
of its portion of such payment) in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts
Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided, if all or part of such
proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy
or reorganization of any Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such participations
shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest. Each Company expressly
consents to the foregoing arrangement and agrees that any holder of a participation so purchased may exercise any and all rights
of banker’s lien, set-off or counterclaim with respect to any and all monies owing by any Company to that holder with respect
thereto as fully as if that holder were owed the amount of the participation held by that holder.


 






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2.17.
Making or Maintaining LIBOR Rate Loans.


 


(a)
Inability to Determine Applicable Interest Rate. In the event that Administrative Agent shall have determined (which determination
shall be final and conclusive and binding upon all parties hereto), on any Interest Rate Determination Date with respect to any
LIBOR Rate Loans, that by reason of circumstances affecting the London interbank market adequate and fair means do not exist for
ascertaining the interest rate applicable to such LIBOR Rate Loans on the basis provided for in the definition of Adjusted LIBOR
Rate, Administrative Agent shall on such date give notice (by telefacsimile or by telephone confirmed in writing) to the Company
Representative and each Lender of such determination, whereupon (i) no Loans may be made as, or converted to, LIBOR Rate
Loans until such time as Administrative Agent notifies the Company Representative and Lenders that the circumstances giving rise
to such notice no longer exist, and (ii) any Funding Notice or Conversion/Continuation Notice given by the Company Representative
with respect to the Loans in respect of which such determination was made shall be deemed to be rescinded by the Company Representative.


 


(b)
Illegality or Impracticability of LIBOR Rate Loans. In the event that on any date any Lender shall have determined (which
determination shall be final and conclusive and binding upon all parties hereto but shall be made only after consultation with
the Company Representative and Administrative Agent) that the making, maintaining or continuation of its LIBOR Rate Loans (i)
has become unlawful as a result of compliance by such Lender in good faith with any law, treaty, governmental rule, regulation,
guideline or order (or would conflict with any such treaty, governmental rule, regulation, guideline or order not having the force
of law even though the failure to comply therewith would not be unlawful), or (ii) has become impracticable, as a result of contingencies
occurring after the date hereof which materially and adversely affect the London interbank market or the position of such Lender
in that market, then, and in any such event, such Lender shall be an “Affected Lender” and it shall on that
day give notice (by telefacsimile or by telephone confirmed in writing) to the Company Representative and Administrative Agent
of such determination (which notice Administrative Agent shall promptly transmit to each other Lender). Thereafter (1) the obligation
of the Affected Lender to make Loans as, or to convert Loans to, LIBOR Rate Loans shall be suspended until such notice shall be
withdrawn by the Affected Lender, (2) to the extent such determination by the Affected Lender relates to a LIBOR Rate Loan then
being requested by the Company Representative pursuant to a Funding Notice or a Conversion/Continuation Notice, the Affected Lender
shall make such Loan as (or continue such Loan as or convert such Loan to, as the case may be) a Base Rate Loan, (3) the Affected
Lender’s obligation to maintain its outstanding LIBOR Rate Loans (the “Affected Loans”) shall be terminated
at the earlier to occur of the expiration of the Interest Period then in effect with respect to the Affected Loans or when required
by law, and (4) the Affected Loans shall automatically convert into Base Rate Loans on the date of such termination. Notwithstanding
the foregoing, to the extent a determination by an Affected Lender as described above relates to a LIBOR Rate Loan then being
requested by the Company Representative pursuant to a Funding Notice or a Conversion/Continuation Notice, the Company Representative
shall have the option, subject to the provisions of Section 2.17(c), to rescind such Funding Notice or Conversion/Continuation
Notice as to all Lenders by giving notice (by telefacsimile or by telephone confirmed in writing) to Administrative Agent of such
rescission on the date on which the Affected Lender gives notice of its determination as described above (which notice of rescission
Administrative Agent shall promptly transmit to each other Lender). Except as provided in the immediately preceding sentence,
nothing in this Section 2.17(b) shall affect the obligation of any Lender other than an Affected Lender to make or maintain Loans
as, or to convert Loans to, LIBOR Rate Loans in accordance with the terms hereof.


 






    	 	41	 



     


    

 


(c) Compensation
for Breakage or Non-Commencement of Interest Periods. The Companies shall compensate each Lender, upon written request by
such Lender (which request shall set forth the basis for requesting such amounts), for all reasonable losses, expenses and
liabilities (including any interest paid or calculated to be due and payable by such Lender to lenders of funds borrowed
by it to make or carry its LIBOR Rate Loans and any loss, expense or liability sustained by such Lender in connection with
the liquidation or re-employment of such funds but excluding loss of anticipated profits) which such Lender may sustain: (i)
if for any reason (other than a default by such Lender) a borrowing of any LIBOR Rate Loan does not occur on a date specified
therefor in a Funding Notice or a telephonic request for borrowing, or a conversion to or continuation of any LIBOR Rate Loan
does not occur on a date specified therefor in a Conversion/Continuation Notice or a telephonic request for conversion or
continuation; (ii) if any prepayment or other principal payment of, or any conversion of, any of its LIBOR Rate Loans
occurs on any day other than the last day of an Interest Period applicable to that Loan (whether voluntary, mandatory,
automatic, by reason of acceleration, or otherwise); or (iii) if any prepayment of any of its LIBOR Rate Loans is not
made on any date specified in a notice of prepayment given by the Company Representative.


 


(d)
Booking of LIBOR Rate Loans. Any Lender may make, carry or transfer LIBOR Rate Loans at, to, or for the account of any
of its branch offices or the office of an Affiliate of such Lender.


 


(e)
Assumptions Concerning Funding of LIBOR Rate Loans. Calculation of all amounts payable to a Lender under this Section 2.17
and under Section 2.18 shall be made as though such Lender had actually funded each of its relevant LIBOR Rate Loans through the
purchase of a LIBOR deposit bearing interest at the rate obtained pursuant to clause (i) of the definition of Adjusted LIBOR Rate
in an amount equal to the amount of such LIBOR Rate Loan and having a maturity comparable to the relevant Interest Period and
through the transfer of such LIBOR deposit from an offshore office of such Lender to a domestic office of such Lender in the United
States of America; provided, however, each Lender may fund each of its LIBOR Rate Loans in any manner it sees fit
and the foregoing assumptions shall be utilized only for the purposes of calculating amounts payable under this Section 2.17 and
under Section 2.18.


 






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2.18.
Increased Costs; Capital Adequacy.


 


(a)
Compensation For Increased Costs and Taxes. Subject to the provisions of Section 2.19 (which shall be controlling with
respect to the matters covered thereby), in the event that any Lender shall determine (which determination shall, absent manifest
error, be final and conclusive and binding upon all parties hereto) that any law, treaty or governmental rule, regulation or order,
or any change therein or in the interpretation, administration or application thereof (including the introduction of any new law,
treaty or governmental rule, regulation or order), or any determination of a court or Governmental Authority, in each case that
becomes effective after the date hereof, or compliance by such Lender with any guideline, request or directive issued or made
after the date hereof by any central bank or other Governmental Authority or quasi-Governmental Authority (whether or not having
the force of law): (i) subjects such Lender (or its applicable lending office) to any additional Tax (other than any Tax on the
overall net income of such Lender) with respect to this Agreement or any of the other Credit Documents or any of its obligations
hereunder or thereunder or any payments to such Lender (or its applicable lending office) of principal, interest, fees or any
other amount payable hereunder; (ii) imposes, modifies or holds applicable any reserve (including any marginal, emergency, supplemental,
special or other reserve), special deposit, compulsory loan, FDIC insurance or similar requirement against assets held by, or
deposits or other liabilities in or for the account of, or advances or loans by, or other credit extended by, or any other acquisition
of funds by, any office of such Lender (other than any such reserve or other requirements with respect to LIBOR Rate Loans that
are reflected in the definition of Adjusted LIBOR Rate); or (iii) imposes any other condition (other than with respect to a Tax
matter) on or affecting such Lender (or its applicable lending office) or its obligations hereunder or the London interbank market;
and the result of any of the foregoing is to increase the cost to such Lender of agreeing to make, making or maintaining Loans
hereunder or to reduce any amount received or receivable by such Lender (or its applicable lending office) with respect thereto;
then, in any such case, the Companies shall promptly pay to such Lender, upon receipt of the statement referred to in the next
sentence, such additional amount or amounts (in the form of an increased rate of, or a different method of calculating, interest
or otherwise as such Lender in its sole discretion shall determine) as may be necessary to compensate such Lender for any such
increased cost or reduction in amounts received or receivable hereunder. Such Lender shall deliver to the Company Representative
(with a copy to Administrative Agent) a written statement, setting forth in reasonable detail the basis for calculating the additional
amounts owed to such Lender under this Section 2.18(a), which statement shall be conclusive and binding upon all parties hereto
absent manifest error.


 


(b)
Capital Adequacy Adjustment. In the event that any Lender shall have determined (which determination shall, absent manifest
error, be final and conclusive and binding upon all parties hereto) that (A) the adoption, effectiveness, phase-in or applicability
of any law, rule or regulation (or any provision thereof) regarding capital adequacy or liquidity, or any change therein or in
the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the
interpretation or administration thereof, or (B) compliance by any Lender (or its applicable lending office) or any company
controlling such Lender with any guideline, request or directive regarding capital adequacy or liquidity (whether or not having
the force of law) of any such Governmental Authority, central bank or comparable agency, in each case after the Restatement Date,
has or would have the effect of reducing the rate of return on the capital of such Lender or any company controlling such Lender
as a consequence of, or with reference to, such Lender’s Loans or other obligations hereunder with respect to the Loans
to a level below that which such Lender or such controlling company could have achieved but for such adoption, effectiveness,
phase-in, applicability, change or compliance (taking into consideration the policies of such Lender or such controlling company
with regard to capital adequacy or liquidity), then from time to time, within five (5) Business Days after receipt by the Company
Representative from such Lender of the statement referred to in the next sentence, the Companies shall pay to such Lender such
additional amount or amounts as will compensate such Lender or such controlling company on an after-tax basis for such reduction.
Such Lender shall deliver to the Company Representative (with a copy to Administrative Agent) a written statement, setting forth
in reasonable detail the basis for calculating the additional amounts owed to Lender under this Section 2.18(b), which statement
shall be conclusive and binding upon all parties hereto absent manifest error. For the avoidance of doubt, subsections (a) and
(b) of this Section 2.18 shall apply to all requests, rules, guidelines or directives concerning liquidity and capital adequacy
issued by any United States regulatory authority (i) under or in connection with the implementation of the Dodd-Frank Wall Street
Reform and Consumer Protection Act and (ii) in connection with the implementation of the recommendations of the Bank for International
Settlements or the Basel Committee on Banking Regulations and Supervisory Practices (or any successor or similar authority) or
the United States or foreign regulatory authorities, in each case pursuant to Basel III, regardless of the date adopted, issued,
promulgated or implemented (which determination shall, absent manifest error, be final and conclusive and binding upon all parties
hereto).


 






    	 	43	 



     


    

 


2.19.
Taxes; Withholding, etc.


 


(a)
Payments to Be Free and Clear. All sums payable by any Credit Party hereunder and under the other Credit Documents shall
(except to the extent required by law) be paid free and clear of, and without any deduction or withholding on account of, any
Tax (other than a Tax on the overall net income of any Lender) imposed, levied, collected, withheld or assessed by or within the
United States of America or any political subdivision in or of the United States of America or any other jurisdiction from or
to which a payment is made by or on behalf of any Credit Party or by any federation or organization of which the United States
of America or any such jurisdiction is a member at the time of payment.


 


(b)
Withholding of Taxes. If any Credit Party or any other Person is required by law to make any deduction or withholding on
account of any such Tax from any sum paid or payable by any Credit Party to Administrative Agent or any Lender under any of the
Credit Documents: (i) Company Representative shall notify Administrative Agent of any such requirement or any change in any such
requirement as soon as any Company becomes aware of it; (ii) Companies shall pay any such Tax before the date on which penalties
attach thereto, such payment to be made (if the liability to pay is imposed on any Credit Party) for its own account or (if that
liability is imposed on Administrative Agent or such Lender, as the case may be) on behalf of and in the name of Administrative
Agent or such Lender; (iii) the sum payable by such Credit Party in respect of which the relevant deduction, withholding or payment
is required shall be increased to the extent necessary to ensure that, after the making of that deduction, withholding or payment,
Administrative Agent or such Lender, as the case may be, receives on the due date a net sum equal to what it would have received
had no such deduction, withholding or payment been required or made; and (iv) within thirty days after paying any sum from which
it is required by law to make any deduction or withholding, and within thirty days after the due date of payment of any Tax which
it is required by clause (ii) above to pay, the Company Representative shall deliver to Administrative Agent evidence satisfactory
to the other affected parties of such deduction, withholding or payment and of the remittance thereof to the relevant taxing or
other authority; provided, no such additional amount shall be required to be paid to any Lender under clause (iii) above except
to the extent that any change after the date hereof (in the case of each Lender listed on the signature pages hereof on the Restatement
Date) or after the effective date of the Assignment Agreement pursuant to which such Lender became a Lender (in the case of each
other Lender) in any such requirement for a deduction, withholding or payment as is mentioned therein shall result in an increase
in the rate of such deduction, withholding or payment from that in effect at the date hereof or at the date of such Assignment
Agreement, in respect of payments to such Lender.


 


(c)
Evidence of Exemption From U.S. Withholding Tax. Each Lender that is not a United States Person (as such term is defined
in Section 7701(a)(30) of the Internal Revenue Code) for U.S. federal income tax purposes (a “Non-US Lender”)
shall deliver to Administrative Agent for transmission to the Company Representative on or prior to the Restatement Date (in the
case of each Lender listed on the signature pages hereof on the Restatement Date) or on or prior to the date of the Assignment
Agreement pursuant to which it becomes a Lender (in the case of each other Lender), and at such other times as may be necessary
in the determination of the Company Representative or Administrative Agent (each in the reasonable exercise of its discretion),
(i) two original copies of Internal Revenue Service Form W-8BEN, Form W-8BEN-E or W-8ECI (or any successor forms), properly completed
and duly executed by such Lender, and such other documentation required under the Internal Revenue Code and reasonably requested
by the Company Representative to establish that such Lender is not subject to deduction or withholding of United States federal
income tax with respect to any payments to such Lender of principal, interest, fees or other amounts payable under any of the
Credit Documents, or (ii) if such Lender is not a “bank” or other Person described in Section 881(c)(3) of the
Internal Revenue Code and cannot deliver Internal Revenue Service Form W-8ECI pursuant to clause (i) above, a Certificate Regarding
Non-Bank Status together with two original copies of Internal Revenue Service Form W-8BEN or Form W-8BEN-E (or any successor form),
properly completed and duly executed by such Lender, and such other documentation required under the Internal Revenue Code and
reasonably requested by the Company Representative to establish that such Lender is not subject to deduction or withholding of
United States federal income tax with respect to any payments to such Lender of interest payable under any of the Credit Documents.
Each Lender required to deliver any forms, certificates or other evidence with respect to United States federal income tax withholding
matters pursuant to this Section 2.19(c) hereby agrees, from time to time after the initial delivery by such Lender of such forms,
certificates or other evidence, whenever a lapse in time or change in circumstances renders such forms, certificates or other
evidence obsolete or inaccurate in any material respect, that such Lender shall promptly deliver to Administrative Agent for transmission
to the Company Representative two new original copies of Internal Revenue Service Form W-8BEN, Form W-8BEN-E or W-8ECI, or a Certificate
Regarding Non-Bank Status and two original copies of Internal Revenue Service Form W-8BEN or Form W-8BEN-E (or any successor form),
as the case may be, properly completed and duly executed by such Lender, and such other documentation required under the Internal
Revenue Code and reasonably requested by the Company Representative to confirm or establish that such Lender is not subject to
deduction or withholding of United States federal income tax with respect to payments to such Lender under the Credit Documents,
or notify Administrative Agent and the Company Representative of its inability to deliver any such forms, certificates or other
evidence. The Companies shall not be required to pay any additional amount to any Non-US Lender under Section 2.19(b)(iii) if
such Lender shall have failed (1) to deliver the forms, certificates or other evidence referred to in the second sentence of this
Section 2.19(c), or (2) to notify Administrative Agent and the Company Representative of its inability to deliver any such forms,
certificates or other evidence, as the case may be; provided, if such Lender shall have satisfied the requirements of the
first sentence of this Section 2.19(c) on the Restatement Date or on the date of the Assignment Agreement pursuant to which it
became a Lender, as applicable, nothing in this last sentence of Section 2.19(c) shall relieve the Companies of their obligation
to pay any additional amounts pursuant this Section 2.19 in the event that, as a result of any change in any applicable law, treaty
or governmental rule, regulation or order, or any change in the interpretation, administration or application thereof, such Lender
is no longer properly entitled to deliver forms, certificates or other evidence at a subsequent date establishing the fact that
such Lender is not subject to withholding as described herein.


 






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(d)
Taxes Imposed under FATCA; FATCA Covenant. 


 


(i)
Notwithstanding anything to the contrary, the Borrowers shall not be required to pay any additional amount pursuant to Section
2.19(b) with respect to any United States federal withholding tax imposed under FATCA.


 


(ii)
If any payment made to a Lender would be subject to U.S. federal withholding tax imposed by FATCA if such Lender were to fail
to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the
Internal Revenue Code, as applicable), such Lender shall deliver to Administrative Agent, at the time or times prescribed by law
and at such time or times reasonably requested by Administrative Agent, such documentation prescribed by applicable law (including
as prescribed by Section 1471(b)(3)(C)(i) of the Internal Revenue Code) and such additional documentation reasonably requested
by Administrative Agent as may be necessary for Administrative Agent to comply with its obligations under FATCA, to determine
that such Lender has or has not complied with such Lender’s obligations under FATCA or to determine the amount to deduct
and withhold from such payment. Solely for purposes of this clause (ii), “FATCA” shall include any amendments made
to FATCA after the date of this Agreement.


 


2.20.
Obligation to Mitigate. Each Lender agrees that, as promptly as practicable after the officer of such Lender responsible for
administering its Loans becomes aware of the occurrence of an event or the existence of a condition that would cause such Lender
to become an Affected Lender or that would entitle such Lender to receive payments under Section 2.17, 2.18 or 2.19, it will,
to the extent not inconsistent with the internal policies of such Lender and any applicable legal or regulatory restrictions,
use reasonable efforts to (a) make, issue, fund or maintain its Credit Extensions, including any Affected Loans, through another
office of such Lender, or (b) take such other measures as such Lender may deem reasonable, if as a result thereof the circumstances
which would cause such Lender to be an Affected Lender would cease to exist or the additional amounts which would otherwise be
required to be paid to such Lender pursuant to Section 2.17, 2.18 or 2.19 would be materially reduced and if, as determined
by such Lender in its sole discretion, the making, issuing, funding or maintaining of such Loans through such other office or
in accordance with such other measures, as the case may be, would not otherwise adversely affect such Loans or the interests of
such Lender; provided, such Lender will not be obligated to utilize such other office pursuant to this Section 2.20 unless
the Companies agree to pay all incremental expenses incurred by such Lender as a result of utilizing such other office as described
above. A certificate as to the amount of any such expenses payable by Companies pursuant to this Section 2.20 (setting forth in
reasonable detail the basis for requesting such amount) submitted by such Lender to the Company Representative (with a copy to
Administrative Agent) shall be conclusive absent manifest error.


 






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2.21.
Defaulting Lenders. Anything contained herein to the contrary notwithstanding, in the event that any Lender violates any provision
of Section 9.5(c), or, other than at the direction or request of any regulatory agency or authority, defaults (in each case, a
“Defaulting Lender”) in its obligation to fund (a “Funding Default”) any Term Loan (in each
case, a “Defaulted Loan”), then (a) during any Default Period with respect to such Defaulting Lender,
such Defaulting Lender shall be deemed not to be a “Lender” for purposes of voting on any matters (including the granting
of any consents or waivers) with respect to any of the Credit Documents; and (b) to the extent permitted by applicable law,
until such time as the Default Excess, if any, with respect to such Defaulting Lender shall have been reduced to zero, (i) any
voluntary prepayment of the Term Loans shall, if Administrative Agent so directs at the time of making such voluntary prepayment,
be applied to the Term Loans of other Lenders as if such Defaulting Lender had no Term Loans outstanding and the outstanding Term
Loan Loans of such Defaulting Lender were zero, and (ii) any mandatory prepayment of the Term Loans shall, if Administrative
Agent so directs at the time of making such mandatory prepayment, be applied to the Term Loans of other Lenders (but not to Term
Loans of such Defaulting Lender) as if such Defaulting Lender had funded all Defaulted Loans of such Defaulting Lender, it being
understood and agreed that any portion of any mandatory prepayment of the Term Loans that is not paid to such Defaulting Lender
solely as a result of the operation of the provisions of this clause (b) shall be paid to the non-Defaulting Lenders on a ratable
basis. No Term Loan Commitment of any Lender shall be increased or otherwise affected, and, except as otherwise expressly provided
in this Section 2.21, performance by Companies of their respective obligations hereunder and the other Credit Documents shall
not be excused or otherwise modified as a result of any Funding Default or the operation of this Section 2.21. The rights and
remedies against a Defaulting Lender under this Section 2.21 are in addition to other rights and remedies which Companies may
have against such Defaulting Lender with respect to any Funding Default and which Administrative Agent or any Lender may have
against such Defaulting Lender with respect to any Funding Default or violation of Section 9.5(c).


 


2.22.
Removal or Replacement of a Lender. Anything contained herein to the contrary notwithstanding, in the event that: (a) (i)
any Lender (an “Increased-Cost Lender”) shall give notice to the Company Representative that such Lender is
an Affected Lender or that such Lender is entitled to receive payments under Section  2.18, 2.19 or 2.20, (ii) the circumstances
which have caused such Lender to be an Affected Lender or which entitle such Lender to receive such payments shall remain in effect,
and (iii) such Lender shall fail to withdraw such notice within five Business Days after Company Representative’s request
for such withdrawal; or (b) (i) any Lender shall become a Defaulting Lender, (ii) the Default Period for such Defaulting Lender
shall remain in effect, and (iii) such Defaulting Lender shall fail to cure the default as a result of which it has become a Defaulting
Lender within five Business Days after Company Representative’s request that it cure such default; or (c) in connection
with any proposed amendment, modification, termination, waiver or consent with respect to any of the provisions hereof as contemplated
by Section 10.5(b), the consent of Administrative Agent shall have been obtained but the consent of one or more of such other
Lenders (each a “Non-Consenting Lender”) whose consent is required shall not have been obtained; then, with
respect to each such Increased-Cost Lender, Defaulting Lender or Non-Consenting Lender (the “Terminated Lender”),
Administrative Agent may (which, in the case of an Increased-Cost Lender, only after receiving written request from Company Representative
to remove such Increased-Cost Lender), by giving written notice to the Company Representative and any Terminated Lender of its
election to do so, elect to cause such Terminated Lender (and such Terminated Lender hereby irrevocably agrees) to assign its
outstanding Loans in full to one or more Eligible Assignees (each a “Replacement Lender”) in accordance with
the provisions of Section 10.6 and Terminated Lender shall pay any fees payable thereunder in connection with such assignment;
provided, (1) on the date of such assignment, the Replacement Lender shall pay to Terminated Lender an amount equal
to the sum of (A) an amount equal to the principal of, and all accrued interest on, all outstanding Loans of the Terminated Lender
and (B) an amount equal to all accrued, but theretofore unpaid fees owing to such Terminated Lender pursuant to Section 2.10;
(2) on the date of such assignment, the Companies shall pay any amounts payable to such Terminated Lender pursuant to Section
2.18 or 2.19; and (3) in the event such Terminated Lender is a Non-Consenting Lender, each Replacement Lender shall consent, at
the time of such assignment, to each matter in respect of which such Terminated Lender was a Non-Consenting Lender. Each Lender
agrees that if Administrative Agent exercises its option to cause an assignment by such Lender as a Terminated Lender, such Lender
shall, promptly after receipt of written notice of such option, execute and deliver all documentation necessary to effectuate
such assignment in accordance with Section 10.6. In the event that the Terminated Lender fails to execute an Assignment Agreement
pursuant to Section 10.6 within five Business Days after receipt by the Terminated Lender of notice of replacement pursuant
to this Section 2.22 and presentation to such Terminated Lender of an Assignment Agreement evidencing an assignment pursuant
to this Section 2.22, the Terminated Lender shall be deemed to have executed and delivered such Assignment Agreement, and
upon the execution and delivery of Assignment Agreement by the Replacement Lender and Administrative Agent, shall be effective
for purposes of this Section 2.22 and Section 10.6.  Upon the prepayment of all amounts owing to any Terminated
Lender and the termination of such Terminated Lender’s Commitments, if any, such Terminated Lender shall no longer constitute
a “Lender” for purposes hereof; provided, any rights of such Terminated Lender to indemnification hereunder
shall survive as to such Terminated Lender.


 






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SECTION
3. CONDITIONS PRECEDENT


 


3.1.
Restatement Date. The amendment and restatement of the Prior Credit Agreement as provided herein and the obligation of each
Lender to make a Credit Extension on the Restatement Date are subject to the satisfaction, or waiver in accordance with Section
10.5, of the following conditions on or before the Restatement Date, except as otherwise provided by Section 5.15:


 


(a)
Credit Documents. Administrative Agent shall have received sufficient copies of (i) this Agreement, (ii) the Pledge and
Security Agreement, (iii) the Fee Letter, (iv) each Mortgage to be executed on the Restatement Date and (v) each other Credit
Document to be executed on the Restatement date, in each case, executed and delivered by each applicable Credit Party for each
Lender.


 


(b)
Organizational Documents; Incumbency. Administrative Agent shall have received (i) sufficient copies of each Organizational
Document executed and delivered by each Credit Party, as applicable, and, to the extent applicable, certified as of a recent date
by the appropriate governmental official, for each Lender, each dated the Restatement Date or a recent date prior thereto; (ii)
signature and incumbency certificates of the officers of such Person executing the Credit Documents to which it is a party; (iii)
resolutions of the Board of Directors or similar governing body of each Credit Party approving and authorizing the execution,
delivery and performance of this Agreement and the other Credit Documents to which it is a party or by which it or its assets
may be bound as of the Restatement Date, certified as of the Restatement Date by its secretary or an assistant secretary as being
in full force and effect without modification or amendment; (iv) a good standing certificate from the applicable Governmental
Authority of each Credit Party’s jurisdiction of incorporation, organization or formation and in each jurisdiction in which
it is qualified as a foreign corporation or other entity to do business, each dated a recent date prior to the Restatement Date;
and (v) such other documents as Administrative Agent may reasonably request.


 


(c)
Organizational and Capital Structure. The organizational structure and capital structure of Holdings and its Subsidiaries
shall be as set forth on Schedule 4.2.


 


(d)
Representations and Warranties. As of the Restatement Date and after giving effect to this Agreement, the Restatement Date
Disposition and the other transactions contemplated by this Agreement to occur on the Restatement Date, the representations and
warranties contained herein and in the other Credit Documents shall be true and correct in all material respects on and as of
the Restatement Date, except to the extent such representations and warranties specifically relate to an earlier date, in which
case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date.


 


(e)
No Default. As of the Restatement Date and after giving effect to this Agreement, the Restatement Date Disposition and
the other transactions contemplated by this Agreement to occur on the Restatement Date, no event shall have occurred and be continuing
or would result from the consummation of the applicable Credit Extension that would constitute an Event of Default or a Default.


 






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(f)
Existing Indebtedness. On the Restatement Date , after giving effect to the transactions contemplated by this Agreement,
Holdings and its Subsidiaries shall have no Indebtedness and Liens other than those permitted under Sections 6.1 and 6.2, respectively.


 


(g)
Transaction Costs. On or prior to the Restatement Date, the Company Representative shall have delivered to Administrative
Agent its reasonable best estimate of the Transaction Costs (other than fees payable to any Agent).


 


(h)
Governmental Authorizations and Consents. Each Credit Party shall have obtained all Governmental Authorizations and
all consents of other Persons, in each case that are necessary or advisable in connection with the transactions contemplated by
the Credit Documents. Each of the foregoing shall be in full force and effect and in form and substance reasonably satisfactory
to Administrative Agent. All applicable waiting periods shall have expired without any action being taken or threatened by any
competent authority which would restrain, prevent or otherwise impose adverse conditions on the transactions contemplated by the
Credit Documents and no action, request for stay, petition for review or rehearing, reconsideration, or appeal with respect to
any of the foregoing shall be pending, and the time for any applicable agency to take action to set aside its consent on its own
motion shall have expired.


 


(i)
Reserved. 


 


(j)
Personal Property Collateral. In order to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid,
perfected First Priority security interest in the personal property Collateral, Collateral Agent shall have received: 


 


(i)
evidence satisfactory to Collateral Agent of the compliance by each Credit Party of their obligations under the Pledge and Security
Agreement and the other Collateral Documents (including, without limitation, their obligations to authorize or execute, as the
case may be, and deliver UCC financing statements, originals of securities, instruments and chattel paper and any agreements governing
deposit and/or securities accounts as provided therein); and


 


(ii)
evidence that each Credit Party shall have taken or caused to be taken any other action, executed and delivered or caused to be
executed and delivered any other agreement, document and instrument (including without limitation, any intercompany notes evidencing
Indebtedness permitted to be incurred pursuant to Section 6.1(b)) and made or caused to be made any other filing and recording
(other than as set forth herein) reasonably required by Collateral Agent.


 


(k)
Environmental Reports. To the extent requested by Administrative Agent, Administrative Agent shall have received reports
and other information, in form, scope and substance satisfactory to Administrative Agent, regarding environmental matters relating
to the Facilities.


 


(l)
Financial Statements; Projections. Lenders shall have received from Holdings (i) pro forma consolidated and consolidating
balance sheets of Holdings and its Subsidiaries as at the Restatement Date, and reflecting the consummation of the transactions
contemplated by the transactions contemplated by the Credit Documents to occur on or prior to the Restatement Date, which pro
forma financial statements shall be in form and substance satisfactory to Administrative Agent, (ii) pro forma consolidated and
consolidating income statements of Holdings and its Subsidiaries as at the Restatement Date, and reflecting the consummation of
the transactions contemplated by the transactions contemplated by the Credit Documents to occur on or prior to the Restatement
Date, and (iii) the Projections.


 






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(m)
Evidence of Insurance. Collateral Agent shall have received a certificate from Companies’ insurance broker or other
evidence satisfactory to it that all insurance required to be maintained pursuant to Section 5.5 is in full force and effect,
together with endorsements naming the Collateral Agent, for the benefit of Secured Parties, as additional insured and loss payee
thereunder to the extent required under Section 5.5.


 


(n)
Opinions of Counsel to Credit Parties. Lenders and their respective counsel shall have received originally executed copies
of the favorable written opinions of Cozen O’Conner PC, each special counsel to the Credit Parties, in form and substance
satisfactory to the Administrative Agent and covering such matters as Administrative Agent may reasonably request (including the
creation and perfection of security interests), each dated as of the Restatement Date and otherwise in form and substance reasonably
satisfactory to Administrative Agent (and each Credit Party hereby instructs such counsel to deliver such opinions to Agents and
Lenders).


 


(o)
Fees and Expenses. The Companies shall have paid to Administrative Agent the fees payable on the Restatement Date referred
to in Section 2.10(e) and shall have paid, or reimbursed directly, the Administrative Agent and its affiliates for all of their
expenses (including reasonable fees, charges and disbursements of counsel to the Administrative Agent) required to be reimbursed
in connection with the transactions contemplated hereby.


 


(p)
Solvency Certificate. On the Restatement Date, Administrative Agent shall have received a Solvency Certificate from Holdings
dated as of the Restatement Date and addressed to Administrative Agent and Lenders, and in form, scope and substance satisfactory
to Administrative Agent, with appropriate attachments and demonstrating that after giving effect to the consummation of the Restatement
Date Disposition and the other transaction contemplated by this Agreement to occur on or prior to the Restatement Date, such Credit
Party is and will be Solvent.


 


(q)
Restatement Date Certificate. The Credit Parties shall have delivered to Administrative Agent an originally executed Restatement
Date Certificate, together with all attachments thereto.


 


(r)
No Litigation. There shall not exist any action, suit, investigation, litigation or proceeding or other legal or regulatory
developments, pending or threatened (in writing) in any court or before any arbitrator or Governmental Authority that, in the
reasonable discretion of Administrative Agent, singly or in the aggregate, materially impairs the Restatement Date Disposition
or any of the other transactions contemplated by the Credit Documents, or that could have a Material Adverse Effect.


 






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(s)
Due Diligence. The Administrative Agent shall have completed its due diligence review of the Companies and their respective
Subsidiaries and the results of such review shall be satisfactory to the Administrative Agent, including, without limitation,
(i) satisfactory completion and review of third party accounting due diligence report focused on Consolidated Adjusted EBITDA
verification, (ii) market due diligence, (iii) business due diligence, (iv) management background checks, (v) environmental reviews
and (vi) legal review. 


 


(t)
Minimum Liquidity. The Companies shall demonstrate in form and substance reasonably satisfactory to Administrative Agent
that on the Restatement Date and immediately after giving effect to any Credit Extensions to be made on the Restatement Date,
including the payment of all Transaction Costs required to be paid in Cash, the Companies shall have at least $500,000 of Cash.


 


(u)
No Material Adverse Change. Since December 31, 2016, no event, circumstance or change shall have occurred that has caused
or evidences, either in any case or in the aggregate, a Material Adverse Effect.


 


(v)
Completion of Proceedings. All partnership, corporate and other proceedings taken or to be taken in connection with the
transactions contemplated hereby and all documents incidental thereto not previously found acceptable by Administrative Agent
and its counsel shall be satisfactory in form and substance to Administrative Agent and such counsel, and Administrative Agent,
and such counsel shall have received all such counterpart originals or certified copies of such documents as Administrative Agent
may reasonably request.


 


(w)
Service of Process. On the Restatement Date, Administrative Agent shall have received evidence that each Credit Party has
appointed an agent in New York City for the purpose of service of process in New York City and such agent shall agree in writing
to give Administrative Agent notice of any resignation of such service agent or other termination of the agency relationship.
The Companies shall have paid the fees for such service of process for all Credit Parties through the term of this Agreement.


 


(x)
Prepayment of Loans Outstanding. On the Restatement Date, the Administrative Agent shall have received a prepayment for
loans outstanding under the Prior Credit Agreement in an aggregate principal amount at least equal to $75,810,000 (consisting
of a cash prepayment in an amount equal to $70,810,000 and the issuance of $5,000,000 of Series A Preferred Units in Meridian
Waste Holdings, LLC, a Delaware limited liability company). 


 


Each
Lender, by delivering its signature page to this Agreement and funding a Loan on the Restatement Date, shall be deemed to have
acknowledged receipt of, and consented to and approved, each Credit Document and each other document required to be approved by
any Agent, Requisite Lenders or Lenders, as applicable on the Restatement Date.


 


3.2.
Reserved.


 


3.3.
Conditions Subsequent to the Restatement Date. The Companies shall fulfill, on or before the date applicable thereto (which
date can be extended in writing by the Administrative Agent in its sole discretion), each of the conditions subsequent specified
in Section 5.15.


 






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SECTION
4. REPRESENTATIONS AND WARRANTIES


 


In
order to induce Agents and Lenders to enter into this Agreement and to make each Credit Extension to be made thereby, each Credit
Party represents and warrants to each Agent and Lender, on the Restatement Date and on each Credit Date, that the following statements
are true and correct (it being understood and agreed that the representations and warranties made on the Restatement Date are
deemed to be made concurrently with the consummation of the Restatement Date Disposition):


 


4.1.
Organization; Requisite Power and Authority; Qualification. Each of Holdings and its Subsidiaries (a) is duly organized, validly
existing and in good standing under the laws of its jurisdiction of organization, (b) has all requisite power and authority to
own and operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into the Credit
Documents to which it is a party and to carry out the transactions contemplated thereby, and (c) is qualified to do business and
in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations,
except in jurisdictions where the failure to be so qualified or in good standing has not had, and could not be reasonably expected
to have, a Material Adverse Effect. As of the Restatement Date, the jurisdiction of organization or incorporation of Holdings
and its Subsidiaries is set forth on Schedule 4.1.


 


4.2.
Capital Stock and Ownership. The Capital Stock of each of Holdings and its Subsidiaries has been duly authorized and validly
issued and is fully paid and non-assessable. Except as set forth on Schedule 4.2, as of the date hereof, there is no existing
option, warrant, call, right, commitment or other agreement to which Holdings or any of its Subsidiaries is a party requiring,
and there is no membership interest or other Capital Stock of Holdings or any of its Subsidiaries outstanding which upon conversion
or exchange would require, the issuance by Holdings or any of its Subsidiaries of any additional membership interests or other
Capital Stock of Holdings or any of its Subsidiaries or other Securities convertible into, exchangeable for or evidencing the
right to subscribe for or purchase, a membership interest or other Capital Stock of Holdings or any of its Subsidiaries. Schedule 4.2
correctly sets forth the ownership interest of Holdings and each of its Subsidiaries in their respective Subsidiaries as of the
Restatement Date after giving effect to the Restatement Date Disposition.


 


4.3.
Due Authorization. The execution, delivery and performance of the Credit Documents have been duly authorized by all necessary
action on the part of each Credit Party that is a party thereto.


 


4.4.
No Conflict. Except as set forth on Schedule 4.4 the execution, delivery and performance by Credit Parties of the Credit Documents
to which they are parties and the consummation of the transactions contemplated by the Credit Documents do not and will not (a)
violate any provision of any law or any governmental rule or regulation applicable to Holdings or any of its Subsidiaries, any
of the Organizational Documents of Holdings or any of its Subsidiaries, or any order, judgment or decree of any court or other
agency of government binding on Holdings or any of its Subsidiaries; (b) conflict with, result in a breach of or constitute
(with due notice or lapse of time or both) a default under any material Contractual Obligation of Holdings or any of its Subsidiaries;
(c) result in or require the creation or imposition of any Lien upon any of the properties or assets of Holdings or any of its
Subsidiaries (other than any Liens created under any of the Credit Documents in favor of Collateral Agent, on behalf of Secured
Parties); or (d) require any approval of stockholders, members or partners or any approval or consent of any Person under any
Contractual Obligation of Holdings or any of its Subsidiaries, except for such approvals or consents which will be obtained on
or before the Restatement Date and disclosed in writing to Lenders.


 






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4.5.
Governmental Consents. The execution, delivery and performance by Credit Parties of the Credit Documents to which they are
parties and the consummation of the transactions contemplated by the Credit Documents do not and will not require any registration
with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority except filings with the
Securities and Exchange Commission as required by Holdings under the Securities Exchange Act of 1934, as amended, and for filings
and recordings with respect to the Collateral to be made, or otherwise delivered to Collateral Agent for filing and/or recordation,
as of the Restatement Date.


 


4.6.
Binding Obligation. Each Credit Document has been duly executed and delivered by each Credit Party that is a party thereto
and is the legally valid and binding obligation of such Credit Party, enforceable against such Credit Party in accordance with
its respective terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating
to or limiting creditors’ rights generally or by equitable principles relating to enforceability.


 


4.7.
Contingent Liabilities. As of the Restatement Date, neither Holdings nor any of its Subsidiaries has any contingent liability
or liability for taxes, long-term lease or unusual forward or long-term commitment that is not reflected in the financial statements
most recently delivered under Section 5.1 or the notes thereto and which in any such case is material in relation to the business,
operations, properties, assets, condition (financial or otherwise) or prospects of Holdings and any of its Subsidiaries taken
as a whole.


 


4.8.
Projections. On and as of the Restatement Date, the Projections of Holdings and its Subsidiaries for the period of Fiscal
Year 2018 through and including Fiscal Year 2020, including quarterly projections for each consecutive three-month period during
the Fiscal Year in which the Restatement Date takes place, (the “Projections”) are based on good faith estimates
and assumptions made by the management of Holdings; provided, the Projections are not to be viewed as facts and that actual
results during the period or periods covered by the Projections may differ from such Projections and that the differences may
be material; provided further, as of the Restatement Date, management of Holdings believed that the Projections were reasonable
and attainable.


 


4.9.
No Material Adverse Change. Since December 31, 2016, no event, circumstance or change has occurred that has caused or evidences,
either in any case or in the aggregate, a Material Adverse Effect.


 






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4.10.
No Restricted Junior Payments. Since December 31, 2016, neither Holdings nor any of its Subsidiaries has directly or indirectly
declared, ordered, paid or made, or set apart any sum or property for, any Restricted Junior Payment or agreed to do so except
as permitted pursuant to Section 6.5.


 


4.11.
Adverse Proceedings, etc. There are no Adverse Proceedings, individually or in the aggregate, that could reasonably be expected
to have a Material Adverse Effect. Neither Holdings nor any of its Subsidiaries (a) is in violation of any applicable laws
(including Environmental Laws) that, individually or in the aggregate, could reasonably be expected to have a Material Adverse
Effect, or (b) is subject to or in default with respect to any final judgments, writs, injunctions, decrees, rules or regulations
of any court or any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality,
domestic or foreign, that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.


 


4.12.
Payment of Taxes. Except as otherwise permitted under Section 5.3, all tax returns and reports of Holdings and its Subsidiaries
required to be filed by any of them have been timely filed, and all taxes shown on such tax returns to be due and payable and
all assessments, fees and other governmental charges upon Holdings and its Subsidiaries and upon their respective properties,
assets, income, businesses and franchises which are due and payable have been paid when due and payable. No Credit Party knows
of any proposed tax assessment against Holdings or any of its Subsidiaries which is not being actively contested by Holdings or
such Subsidiary in good faith and by appropriate proceedings; provided, such reserves or other appropriate provisions,
if any, as shall be required in conformity with GAAP shall have been made or provided therefor.


 


4.13.
Properties.


 


(a)
Title. Each of Holdings and its Subsidiaries has (i) good, sufficient and legal title to (in the case of fee interests
in real property), (ii) valid leasehold interests in (in the case of leasehold interests in real or personal property), and (iii)
good title to (in the case of all other personal property), all of their respective properties and assets reflected in in the
most recent financial statements delivered pursuant to Section 5.1, in each case except for assets disposed of since the date
of such financial statements in the ordinary course of business or as otherwise permitted under Section 6.9. Except as permitted
by this Agreement, all such properties and assets are free and clear of Liens.


 


(b)
Real Estate. As of the Restatement Date, Schedule 4.13 contains a true, accurate and complete list of (i) all Real
Estate Assets, and (ii) all leases, subleases or assignments of leases (together with all amendments, modifications, supplements,
renewals or extensions of any thereof) affecting each Real Estate Asset of any Credit Party or any of its Subsidiaries, regardless
of whether such Credit Party or such Subsidiary thereof is the landlord or tenant (whether directly or as an assignee or successor
in interest) under such lease, sublease or assignment. Each agreement listed in clause (ii) of the immediately preceding sentence
is in full force and effect and no Credit Party has any knowledge of any default that has occurred and is continuing thereunder,
and each such agreement constitutes the legally valid and binding obligation of each applicable Credit Party or Subsidiary thereof,
enforceable against such Credit Party or Subsidiary in accordance with its terms, except as enforcement may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable
principles.


 






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(c)
Intellectual Property. Each of Holdings and its Subsidiaries possesses all franchises, licenses and permits, patents, copyrights,
trademarks and trade names, and rights in respect of the foregoing, material and necessary to the conduct of its business without
known conflict with any rights of others. 


 


4.14.
Environmental Matters. Neither Holdings nor any of its Subsidiaries nor any of their respective Facilities or operations are
subject to any outstanding written order, consent decree or settlement agreement with any Person relating to any Environmental
Law, any Environmental Claim, or any Hazardous Materials Activity that, individually or in the aggregate, could reasonably be
expected to have a Material Adverse Effect. Neither Holdings nor any of its Subsidiaries has received any letter or request
for information under Section 104 of the Comprehensive Environmental Response, Compensation, and Liability Act (42 U.S.C.
§ 9604) or any comparable state law. There are and, to each Credit Party’s knowledge, have been, no conditions,
occurrences, or Hazardous Materials Activities which could reasonably be expected to form the basis of an Environmental Claim
against Holdings or any of its Subsidiaries that, individually or in the aggregate, could reasonably be expected to have a Material
Adverse Effect. Neither Holdings nor any of its Subsidiaries nor, to any Credit Party’s knowledge, any predecessor of Holdings
or any of its Subsidiaries has filed any notice under any Environmental Law indicating past or present treatment of Hazardous
Materials at any Facility, and none of Holdings’ or any of its Subsidiaries’ operations involves the generation, transportation,
treatment, storage or disposal of hazardous waste, as defined under 40 C.F.R. Parts 260-270 or any state equivalent. Compliance
with all current or reasonably foreseeable future requirements pursuant to or under Environmental Laws could not be reasonably
expected to have, individually or in the aggregate, a Material Adverse Effect. No event or condition has occurred or is occurring
with respect to Holdings or any of its Subsidiaries relating to any Environmental Law, any Release of Hazardous Materials, or
any Hazardous Materials Activity which individually or in the aggregate has had, or could reasonably be expected to have, a Material
Adverse Effect.


 


4.15.
No Defaults. Neither Holdings nor any of its Subsidiaries is in default in the performance, observance or fulfillment of any
of the obligations, covenants or conditions contained in any of its Contractual Obligations, and no condition exists which, with
the giving of notice or the lapse of time or both, could constitute such a default, except where the consequences, direct or indirect,
of such default or defaults, if any, could not reasonably be expected to have a Material Adverse Effect.


 


4.16.
Material Contracts. Schedule 4.16 contains a true, correct and complete list of all the Material Contracts in effect
on the Restatement Date, which, together with any updates provided pursuant to Section 5.1(l), all such Material Contracts are
in full force and effect and no defaults currently exist thereunder (other than as described in Schedule 4.16 or in such updates).
True, correct and complete copies of all Material Contracts listed on Schedule 4.16 have been delivered to the Administrative
Agent.


 






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4.17.
Governmental Regulation. Neither Holdings nor any of its Subsidiaries is subject to regulation under the Public Utility Holding
Company Act of 2005, the Federal Power Act or the Investment Company Act of 1940 or under any other federal or state statute or
regulation which may limit its ability to incur Indebtedness or which may otherwise render all or any portion of the Obligations
unenforceable. Neither Holdings nor any of its Subsidiaries is a “registered investment company” or a company “controlled”
by a “registered investment company” or a “principal underwriter” of a “registered investment company”
as such terms are defined in the Investment Company Act of 1940.


 


4.18.
Margin Stock. Neither Holdings nor any of its Subsidiaries is engaged principally, or as one of its important activities,
in the business of extending credit for the purpose of purchasing or carrying any Margin Stock. No part of the proceeds of the
Loans made to the Companies will be used to purchase or carry any such Margin Stock or to extend credit to others for the purpose
of purchasing or carrying any such Margin Stock or for any purpose that violates, or is inconsistent with, the provisions of Regulation
T, U or X of the Board of Governors of the Federal Reserve System.


 


4.19.
Employee Matters. Neither Holdings nor any of its Subsidiaries is engaged in any unfair labor practice that could reasonably
be expected to have a Material Adverse Effect. There is (a) no unfair labor practice complaint pending against Holdings or any
of its Subsidiaries, or to the best knowledge of the Credit Parties, threatened against any of them before the National Labor
Relations Board and no grievance or arbitration proceeding arising out of or under any collective bargaining agreement that is
so pending against Holdings or any of its Subsidiaries or to the best knowledge of the Credit Parties, threatened against any
of them, (b) no strike or work stoppage in existence or threatened (in writing) involving Holdings or any of its Subsidiaries,
and (c) to the best knowledge of the Credit Parties, no union representation question existing with respect to the employees of
Holdings or any of its Subsidiaries and, to the best knowledge of the Credit Parties, no union organization activity that is taking
place, except (with respect to any matter specified in clause (a), (b) or (c) above, either individually or in the aggregate)
such as is not reasonably likely to have a Material Adverse Effect.


 


4.20.
Employee Benefit Plans. Except as listed on Schedule 4.20, Holdings, each of its Subsidiaries and each of their respective
ERISA Affiliates are in compliance with all applicable provisions and requirements of ERISA and the Internal Revenue Code and
the regulations and published interpretations thereunder with respect to each Employee Benefit Plan, and have performed all their
obligations under each Employee Benefit Plan. Each Employee Benefit Plan which is intended to qualify under Section 401(a) of
the Internal Revenue Code has received a favorable determination letter from the Internal Revenue Service indicating that such
Employee Benefit Plan is so qualified and nothing has occurred subsequent to the issuance of such determination letter which would
cause such Employee Benefit Plan to lose its qualified status. No liability to the PBGC (other than required premium payments),
the Internal Revenue Service, any Employee Benefit Plan or any trust established under Title IV of ERISA has been or is expected
to be incurred by Holdings, any of its Subsidiaries or any of their ERISA Affiliates. No ERISA Event has occurred or is reasonably
expected to occur. Except to the extent required under Section 4980B of the Internal Revenue Code or similar state laws, no Employee
Benefit Plan provides health or welfare benefits (through the purchase of insurance or otherwise) for any retired or former employee
of Holdings, any of its Subsidiaries or any of their respective ERISA Affiliates. The present value of the aggregate benefit liabilities
under each Pension Plan sponsored, maintained or contributed to by Holdings, any of its Subsidiaries or any of their ERISA Affiliates
(determined as of the end of the most recent plan year on the basis of the actuarial assumptions specified for funding purposes
in the most recent actuarial valuation for such Pension Plan), did not exceed the aggregate current value of the assets of such
Pension Plan. As of the most recent valuation date for each Multiemployer Plan for which the actuarial report is available, the
potential liability of Holdings, its Subsidiaries and their respective ERISA Affiliates for a complete withdrawal from such Multiemployer
Plan (within the meaning of Section 4203 of ERISA), when aggregated with such potential liability for a complete withdrawal from
all Multiemployer Plans, based on information available pursuant to Section 4221(e) of ERISA is zero. Holdings, each of its Subsidiaries
and each of their ERISA Affiliates have complied with the requirements of Section 515 of ERISA with respect to each Multiemployer
Plan and are not in material “default” (as defined in Section 4219(c)(5) of ERISA) with respect to payments to a Multiemployer
Plan.


 






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4.21.
Certain Fees. No broker’s or finder’s fee or commission will be payable with respect hereto or any of the transactions
contemplated hereby.


 


4.22.
Solvency. Each Credit Party is and, upon the incurrence of any Credit Extension by such Credit Party on any date on which
this representation and warranty is made, will be, Solvent.


 


4.23.
Reserved.


 


4.24.
Compliance with Statutes, Franchises, Permits, etc. Each of Holdings and its Subsidiaries is in compliance with all applicable
statutes, regulations and orders of, and all applicable restrictions imposed by, all Governmental Authorities, in respect of the
conduct of its business and the ownership of its property (including compliance with all applicable Environmental Laws with respect
to any Real Estate Asset or governing its business and the requirements of any permits issued under such Environmental Laws with
respect to any such Real Estate Asset or the operations of Holdings or any of its Subsidiaries), except such non-compliance that,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. Each Credit Party possesses
all franchises, licenses and permits, patents, copyrights, trademarks and trade names, and rights in respect of the foregoing,
material and necessary to the conduct of its business without known conflict with any rights of others. Without limiting the foregoing,
on or prior to the Restatement Date, Holdings has made all filings with the Securities and Exchange Commission required under
the Securities Act, Exchange Act or the rules and regulations thereunder with respect to transactions contemplated by this Agreement
to have occurred on or prior to the Restatement Date, in each case, on or prior to the date required thereunder (without giving
effect to any extension or possible extension of such dates permitted thereunder).


 


4.25.
Disclosure. No representation or warranty of any Credit Party contained in any Credit Document or in any other documents,
certificates or written statements furnished to Lenders by or on behalf of Holdings or any of its Subsidiaries for use in connection
with the transactions contemplated hereby contains any untrue statement of a material fact or omits to state a material fact (known
to the Credit Parties, in the case of any document not furnished by either of them) necessary in order to make the statements
contained herein or therein not misleading in light of the circumstances in which the same were made. Any projections and pro
forma financial information contained in such materials are based upon good faith estimates and assumptions believed by the Credit
Parties to be reasonable at the time made, it being recognized by Lenders that such projections as to future events are not to
be viewed as facts and that actual results during the period or periods covered by any such projections may differ from the projected
results. There are no facts known (or which should upon the reasonable exercise of diligence be known) to the Credit Parties (other
than matters of a general economic nature) that, individually or in the aggregate, could reasonably be expected to result in a
Material Adverse Effect and that have not been disclosed herein or in such other documents, certificates and statements furnished
to Lenders for use in connection with the transactions contemplated hereby.


 






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4.26.
Patriot Act. To the extent applicable, each Credit Party is in compliance, in all material respects, with the (i) Trading
with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31
C.F.R., Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii) Uniting
and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot Act of 2001)
(the “Act”). No part of the proceeds of the Loans will be used, directly or indirectly, for any payments to
any governmental official or employee, political party, official of a political party, candidate for political office, or anyone
else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation
of the United States Foreign Corrupt Practices Act of 1977, as amended.


 


4.27 
Sanctions; Anti-Corruption Laws and Anti-Bribery Laws; Anti-Terrorism and Anti-Money Laundering Laws; Etc.


 


(a)
None of Holdings, any of its Subsidiaries, any Affiliate of any such Person, or any of their respective Directors, officers
or, to the knowledge of any Credit Party, employees, agents, advisors or other Affiliates is a Sanctioned Person. Each of
Holdings and its Subsidiaries and their respective Directors, officers and, to the knowledge of any Credit Party, employees,
agents, advisors and Affiliates is in compliance with and has not violated (i)  Sanctions, (ii) Anti-Corruption and
Anti-Bribery Laws, and (iii)  Anti-Terrorism and Anti-Money Laundering Laws. No part of the proceeds of any Credit
Extension has or will be used, directly or indirectly, (A) for the purpose of financing any activities or business of or with
any Sanctioned Person or in any Sanctioned Country, (B) in furtherance of an offer, payment, promise to pay, or authorization
of the payment or giving of money, or anything else of value to any Person in violation of any Anti-Corruption and
Anti-Bribery Laws, or (C) otherwise in any manner that would result in a violation of Sanctions, Anti-Terrorism and
Anti-Money Laundering Laws, or Anti-Corruption and Anti-Bribery Laws by any Person.


 


(b)
Holdings and its Subsidiaries have established and currently maintain policies, procedures and controls that are designed
(and otherwise comply with applicable law) to ensure that each of Holdings, its Subsidiaries, and each Controlled Entity, and
each of their respective Directors, officers, employees and agents, is and will continue to be in compliance with all
applicable current and future Sanctions, Anti-Terrorism and Anti-Money Laundering Laws, and Anti-Corruption and Anti-Bribery
Laws.


 






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SECTION
5. AFFIRMATIVE COVENANTS


 


Each
Credit Party covenants and agrees that so long as any Commitment is in effect and until payment in full of all Obligations, each
Credit Party shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this Section 5.


 


5.1.
Financial Statements and Other Reports. Unless otherwise provided below, Holdings will deliver to Administrative Agent and
Lenders:


 


(a)
Monthly Reports. As soon as available, and in any event within 30 days after the end of each other month (including months
which began prior to the Restatement Date) (in each case, including the fourth Fiscal Quarter) (or such later date consented to
by the Administrative Agent in writing (which may be by email or other electronic transmission) so long as such later date is
not more than ten days following the date that such financial statements would otherwise be required to be delivered), the consolidated
and consolidating balance sheet of Holdings and its Subsidiaries as at the end of such month and the related consolidated and
consolidating statements of income, consolidated statements of stockholders’ equity and consolidated statements of cash
flows of Holdings and its Subsidiaries for such month and for the period from the beginning of the then current Fiscal Year to
the end of such month, and setting forth in each case in comparative form the corresponding figures for the corresponding periods
of the previous Fiscal Year and the corresponding figures from the Financial Plan for the current Fiscal Year, all in reasonable
detail, together with a schedule of reconciliations for any reclassifications with respect to prior months or periods (and, in
connection therewith, copies of any restated financial statements for any impacted month or period) a Financial Officer Certification,
and any operating reports prepared by management for such period;


 


(b)
Quarterly Financial Statements. As soon as available, and in any event within 45 days after the end of each Fiscal Quarter
of each Fiscal Year ending (in each case, including the fourth Fiscal Quarter) (or such later date consented to by the Administrative
Agent in writing (which may be by email or other electronic transmission) so long as such later date is not more than ten days
following the date that such financial statements would otherwise be required to delivered), the consolidated and consolidating
balance sheets of Holdings and its Subsidiaries as at the end of such Fiscal Quarter and the related consolidated (and with respect
to statements of income, consolidating) statements of income, stockholders’ equity and cash flows of Holdings and its Subsidiaries
for such Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter,
setting forth in each case in comparative form the corresponding figures for the corresponding periods of the previous Fiscal
Year and the corresponding figures from the Financial Plan for the current Fiscal Year, all in reasonable detail, together with
a Financial Officer Certification;


 


(c)
Annual Financial Statements. As soon as available, and in any event within 120 days after the end of each Fiscal Year,
(i) the consolidated and consolidating balance sheets of Holdings and its Subsidiaries as at the end of such Fiscal Year
and the related consolidated (and with respect to statements of income, consolidating) statements of income, stockholders’
equity and cash flows of Holdings and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the
corresponding figures for the previous Fiscal Year and the corresponding figures from the Financial Plan for the Fiscal Year covered
by such financial statements, in reasonable detail, together with a Financial Officer Certification with respect thereto; and
(ii) with respect to such consolidated financial statements a report thereon of independent certified public accountants
of recognized national standing selected by Holdings that is reasonably satisfactory to Administrative Agent (which report shall
be unqualified as to going concern and scope of audit, and shall state that such consolidated financial statements fairly present,
in all material respects, the consolidated financial position of Holdings and its Subsidiaries as at the dates indicated and the
results of their operations and their cash flows for the periods indicated in conformity with GAAP applied on a basis consistent
with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in
connection with such consolidated financial statements has been made in accordance with generally accepted auditing standards)
together with a written statement by such independent certified public accountants stating (1) that their audit examination has
included a review of the terms of the Credit Documents, (2) whether, in connection therewith, any condition or event that constitutes
a Default or an Event of Default has come to their attention and, if such a condition or event has come to their attention, specifying
the nature and period of existence thereof, and (3) that nothing has come to their attention that causes them to believe that
the information contained in any Compliance Certificate is not correct or that the matters set forth in such Compliance Certificate
are not stated in accordance with the terms hereof (such report shall also include (x) a detailed summary of any audit adjustments;
(y) a reconciliation of any audit adjustments or reclassifications to the previously provided monthly or quarterly financials;
and (z) restated monthly or quarterly financials for any impacted periods);


 






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(d)
Compliance Certificate; Reconciliation Statement. Together with each delivery of financial statements of Holdings and its
Subsidiaries pursuant to Sections 5.1(a), 5.1(b) and 5.1(c), a duly executed and completed Compliance Certificate;


 


(e)
Statements of Reconciliation after Change in Accounting Principles. If, as a result of any change in accounting principles
and policies from those used in the preparation of the annual financial statements for the Fiscal Year ended December 31, 2016,
the consolidated financial statements of Holdings and its Subsidiaries delivered pursuant to Section 5.1(b) or 5.1(c) will differ
in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions
had no such change in accounting principles and policies been made, then, together with the first delivery of such financial statements
after such change, one or more statements of reconciliation for all such prior financial statements in form and substance satisfactory
to Administrative Agent;


 


(f)
Notice of Default. Promptly upon any officer of any Credit Party obtaining knowledge (i) of any condition or event that
constitutes a Default or an Event of Default or that notice has been given to any Credit Party with respect thereto; (ii) that
any Person has given any notice to Holdings or any of its Subsidiaries or taken any other action with respect to any event or
condition set forth in Section 8.1(b); or (iii) of the occurrence of any event or change that has caused or evidences, either
in any case or in the aggregate, a Material Adverse Effect, a certificate of its Authorized Officers specifying the nature and
period of existence of such condition, event or change, or specifying the notice given and action taken by any such Person and
the nature of such claimed Event of Default, Default, default, event or condition, and what action the Credit Parties have taken,
are taking and propose to take with respect thereto;


 






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(g)
Notice of Litigation. Promptly upon any officer of any Credit Party obtaining knowledge of (i) the institution of, or threat
in writing of, any Adverse Proceeding not previously disclosed in writing by the Credit Parties to Lenders, or (ii) any material
development in any Adverse Proceeding that, in the case of either clause (i) or (ii) if adversely determined, could be reasonably
expected to have a Material Adverse Effect, or seeks to enjoin or otherwise prevent the consummation of, or to recover any damages
or obtain relief as a result of, the transactions contemplated hereby, written notice thereof together with such other information
as may be reasonably available to the Credit Parties to enable Lenders and their counsel to evaluate such matters;


 


(h)
ERISA. (i) Promptly upon becoming aware of the occurrence of or forthcoming occurrence of any ERISA Event, a written notice
specifying the nature thereof, what action Holdings, any of its Subsidiaries or any of their respective ERISA Affiliates has taken,
is taking or proposes to take with respect thereto and, when known, any action taken or threatened by the Internal Revenue Service,
the Department of Labor or the PBGC with respect thereto; and (ii) with reasonable promptness, copies of (1) each Schedule B
(Actuarial Information) to the annual report (Form 5500 Series) filed by Holdings, any of its Subsidiaries or any of their respective
ERISA Affiliates with the Internal Revenue Service with respect to each Pension Plan; (2) all notices received by Holdings, any
of its Subsidiaries or any of their respective ERISA Affiliates from a Multiemployer Plan sponsor concerning an ERISA Event; and
(3) copies of such other documents or governmental reports or filings relating to any Employee Benefit Plan as Administrative
Agent shall reasonably request;


 


(i)
Financial Plan. As soon as practicable and in any event no later than thirty days prior to the beginning of each Fiscal
Year, a consolidated plan and financial forecast for such Fiscal Year and each Fiscal Year (or portion thereof) through the final
maturity date of the Loans (a “Financial Plan”), including (i) a forecasted consolidated balance sheet and
forecasted consolidated statements of income and cash flows of Holdings and its Subsidiaries for each such Fiscal Year, together
with pro forma Compliance Certificates for each such Fiscal Year and an explanation of the assumptions on which such forecasts
are based, (ii) forecasted consolidated statements of income and cash flows of Holdings and its Subsidiaries for each month
of each such Fiscal Year, (iii) forecasts demonstrating projected compliance with the requirements of Section 6.8 through the
final maturity date of the Loans, and (iv) forecasts demonstrating adequate liquidity through the final maturity date of the Loans,
together, in each case, with an explanation of the assumptions on which such forecasts are based all in form and substance reasonably
satisfactory to Agents; notwithstanding the foregoing, it is understood and agreed that with respect to the Fiscal Year ending
December 31, 2018, the Projections shall constitute the Financial Plan for such year; 


 


(j)
Insurance Report. As soon as practicable and in any event by the last day of each Fiscal Year, a report in form and substance
satisfactory to Administrative Agent outlining all material insurance coverage maintained as of the date of such report by Holdings
and its Subsidiaries and all material insurance coverage planned to be maintained by Holdings and its Subsidiaries in the immediately
succeeding Fiscal Year;


 






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(k)
Notice of Change in Board of Directors. With reasonable promptness, written notice of any change in the board of directors
(or similar governing body) of any Credit Party;


 


(l)
Notice Regarding Material Contracts. Promptly, and in any event within ten Business Days (i) after any Material Contract
of Holdings or any of its Subsidiaries is terminated or amended in a manner that is materially adverse to Holdings or such Subsidiary,
as the case may be, or (ii) any new Material Contract is entered into, a written statement describing such event, with copies
of such material amendments or new contracts, delivered to Administrative Agent (to the extent such delivery is permitted by the
terms of any such Material Contract, provided, no such prohibition on delivery shall be effective if it were bargained for by
Holdings or its applicable Subsidiary with the intent of avoiding compliance with this Section 5.1(l)), and an explanation of
any actions being taken with respect thereto;


 


(m)
Environmental Reports and Audits. As soon as practicable following receipt thereof, copies of all environmental audits
and reports with respect to environmental matters at any Facility or which relate to any environmental liabilities of Holdings
or its Subsidiaries which, in any such case, individually or in the aggregate, could reasonably be expected to result in a Material
Adverse Effect; 


 


(n)
Information Regarding Collateral. (a) The Credit Parties will furnish to Collateral Agent prior written notice of any change
(i) in any Credit Party’s corporate name, (ii) in any Credit Party’s identity or corporate structure, or (iii) in
any Credit Party’s Federal Taxpayer Identification Number. Each Credit Party agrees not to effect or permit any change referred
to in the preceding sentence unless all filings have been made under the UCC or otherwise that are required in order for Collateral
Agent to continue at all times following such change to have a valid, legal and perfected security interest in all the Collateral
and for the Collateral at all times following such change to have a valid, legal and perfected security interest as contemplated
in the Collateral Documents. Each Credit Party also agrees promptly to notify Collateral Agent if any material portion of the
Collateral is damaged or destroyed;


 


(o)
Annual Collateral Verification. Each year, at the time of delivery of annual financial statements with respect to the preceding
Fiscal Year pursuant to Section 5.1(c), the Credit Parties shall deliver to Collateral Agent an Officer’s Certificate (i)
either confirming that there has been no change in such information since the date of the Collateral Questionnaire delivered on
the Restatement Date or the date of the most recent certificate delivered pursuant to this Section and/or identifying such changes,
or (ii) certifying that all UCC financing statements (including fixtures filings, as applicable) or other appropriate filings,
recordings or registrations, have been filed of record in each governmental, municipal or other appropriate office in each jurisdiction
identified in the Collateral Questionnaire or pursuant to clause (i) above to the extent necessary to protect and perfect the
security interests under the Collateral Documents for a period of not less than 18 months after the date of such certificate (except
as noted therein with respect to any continuation statements to be filed within such period);


 


(p)
Aging Reports. Together with each delivery of financial statements of Holdings and each other Credit Party pursuant to
Sections 5.1(a), 5.1(b), and 5.1(c), (i) a summary of the accounts receivable aging report of each Credit Party as of the end
of such period, and (ii) a summary of accounts payable aging report of each Credit Party as of the end of such period; 


 






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(q)
Tax Returns. As soon as practicable and in any event within fifteen (15) days following the filing thereof, copies of each
federal income tax return filed by or on behalf of any Credit Party; and


 


(r)
Other Information. (A) Promptly upon their becoming available, copies of (i) all financial statements, reports, notices
and proxy statements sent or made available generally by Holdings to its security holders acting in such capacity or by any Subsidiary
of Holdings to its security holders other than Holdings or another Subsidiary of Holdings, and (ii) all press releases and
other statements made available generally by Holdings or any of its Subsidiaries to the public concerning material developments
in the business of Holdings or any of its Subsidiaries, and (B) such other information and data with respect to Holdings or any
of its Subsidiaries as from time to time may be reasonably requested by Administrative Agent.


 


To
the extent practical, together with any delivery of financial information required under this Section 5.1, the Credit Parties
shall deliver to the Administrative Agent an Excel spreadsheet containing such financial information.


 


5.2.
Existence. Except as otherwise permitted under Section 6.9, each Credit Party will, and will cause each of its Subsidiaries
to, at all times preserve and keep in full force and effect its existence and all rights and franchises, licenses and permits
material to its business; provided, no Credit Party or any of its Subsidiaries shall be required to preserve any such existence,
right or franchise, licenses and permits if such Person’s board of directors (or similar governing body) shall determine
that the preservation thereof is no longer desirable in the conduct of the business of such Person, and that the loss thereof
is not disadvantageous in any material respect to such Person or to Lenders.


 


5.3.
Payment of Taxes and Claims. Each Credit Party will, and will cause each of its Subsidiaries to, pay all Taxes imposed upon
it or any of its properties or assets or in respect of any of its income, businesses or franchises before any penalty or fine
accrues thereon, and all claims (including claims for labor, services, materials and supplies) for sums that have become due and
payable and that by law have or may become a Lien upon any of its properties or assets, prior to the time when any penalty or
fine shall be incurred with respect thereto; provided, no such Tax or claim need be paid if it is being contested in good
faith by appropriate proceedings promptly instituted and diligently conducted, so long as (a) adequate reserve or other appropriate
provision, as shall be required in conformity with GAAP shall have been made therefor, and (b) in the case of a Tax or claim which
has or may become a Lien against any of the Collateral, such contest proceedings conclusively operate to stay the sale of any
portion of the Collateral to satisfy such Tax or claim. No Credit Party will, nor will it permit any of its Subsidiaries to, file
or consent to the filing of any consolidated income tax return with any Person (other than Holdings or any of its Subsidiaries).
In addition, each Company agrees to pay to the relevant Governmental Authority in accordance with applicable law any current or
future stamp or documentary taxes or any other excise or property taxes, charges or similar levies (including, without limitation,
mortgage recording taxes, transfer taxes and similar fees) imposed by any Governmental Authority that arise from any payment made
hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Agreement.


 






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5.4.
Maintenance of Properties. Each Credit Party will, and will cause each of its Subsidiaries to, maintain or cause to be maintained
in good repair, working order and condition, ordinary wear and tear excepted, all material properties used or useful in the business
of Holdings and its Subsidiaries and from time to time will make or cause to be made all appropriate repairs, renewals and replacements
thereof.


 


5.5.
Insurance. Holdings will maintain or cause to be maintained, with financially sound and reputable insurers, (i) business
interruption insurance reasonably satisfactory to Administrative Agent, and (ii) casualty insurance, such public liability
insurance, third party property damage insurance with respect to liabilities, losses or damage in respect of the assets, properties
and businesses of Holdings and its Subsidiaries as may customarily be carried or maintained under similar circumstances by Persons
of established reputation engaged in similar businesses, in each case in such amounts (giving effect to self-insurance), with
such deductibles, covering such risks and otherwise on such terms and conditions as shall be customary for such Persons. Without
limiting the generality of the foregoing, Holdings will maintain or cause to be maintained (a) flood insurance with respect to
each Flood Hazard Property that is located in a community that participates in the National Flood Insurance Program, in each case
in compliance with any applicable regulations of the Board of Governors of the Federal Reserve System, and (b) replacement value
casualty insurance on the Collateral under such policies of insurance, with such insurance companies, in such amounts, with such
deductibles, and covering such risks as are at all times carried or maintained under similar circumstances by Persons of established
reputation engaged in similar businesses. Each such policy of insurance shall (i) name Collateral Agent, on behalf of Lenders
as an additional insured thereunder as its interests may appear, and (ii) in the case of each casualty insurance policy, contain
a loss payable clause or endorsement, satisfactory in form and substance to Collateral Agent, that names Collateral Agent, on
behalf of Secured Parties as the loss payee thereunder and provides for at least thirty days’ prior written notice to Collateral
Agent of any modification or cancellation of such policy.


 


5.6.
Inspections. Each Credit Party will, and will cause each of its Subsidiaries to, permit any authorized representatives designated
by any Agent or any Lender to visit and inspect any of the properties of any Credit Party and any of its respective Subsidiaries,
to inspect, copy and take extracts from its and their financial and accounting records, and to discuss its and their affairs,
finances and accounts with its and their officers and independent public accountants, all upon reasonable notice and at such reasonable
times during normal business hours and as often as may reasonably be requested.


 


5.7.
Lenders Meetings. Holdings and the Companies will, upon the request of Administrative Agent or Requisite Lenders, participate
in a meeting of Administrative Agent and Lenders once during each Fiscal Year to be held at Company’s corporate offices
(or at such other location as may be agreed to by the Company Representative and Administrative Agent) at such time as may be
agreed to by the Company Representative and Administrative Agent.


 


5.8.
Compliance with Laws. Each Credit Party will comply, and shall cause each of its Subsidiaries and all other Persons, if any,
on or occupying any Facilities to comply, with (i) the requirements of all applicable laws, rules, regulations and orders of any
Governmental Authority (including all Environmental Laws) in all material respects (it being understood, in the case of any laws,
rules, regulations, and orders specifically referred to any other provision of this Agreement, the Credit Parties shall also be
required to represent and/or comply with, as applicable, the express terms of such provision), and (ii) all Sanctions, Anti-Corruption
and Anti-Bribery Laws, and Anti-Terrorism and Anti-Money Laundering Laws in accordance with Section 4.26(a). Each Credit Party
shall, and shall cause each of its Subsidiaries to, maintain the policies and procedures described in Section 4.26(b).


 






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5.9.
Environmental.


 


(a)
Environmental Disclosure. Holdings will deliver to Administrative Agent and Lenders:


 


(i)
as soon as practicable following receipt thereof, copies of all environmental audits, investigations, analyses and reports
of any kind or character, whether prepared by personnel of Holdings or any of its Subsidiaries or by independent consultants,
Governmental Authorities or any other Persons, with respect to significant environmental matters at any Facility or with
respect to any Environmental Claims;


 


(ii)
promptly upon obtaining actual knowledge of the occurrence thereof, written notice describing in reasonable detail (1) any Release
required to be reported to any federal, state or local governmental or regulatory agency under any applicable Environmental Laws,
(2) any remedial action taken by Holdings or any other Person in response to (A) any Hazardous Materials Activities
the existence of which has a reasonable possibility of resulting in one or more Environmental Claims having, individually or in
the aggregate, a Material Adverse Effect, or (B) any Environmental Claims that, individually or in the aggregate, have a
reasonable possibility of resulting in a Material Adverse Effect, and (3) any Credit Party’s discovery of any occurrence
or condition on any real property adjoining or in the vicinity of any Facility that could cause such Facility or any part thereof
to be subject to any material restrictions on the ownership, occupancy, transferability or use thereof under any Environmental
Laws;


 


(iii)
as soon as practicable following the sending or receipt thereof by Holdings or any of its Subsidiaries, a copy of any and all
written communications with respect to (1) any Environmental Claims that, individually or in the aggregate, have a reasonable
possibility of giving rise to a Material Adverse Effect, (2) any Release required to be reported to any Governmental Authority,
and (3) any request for information from any Governmental Authority that suggests such agency is investigating whether Holdings
or any of its Subsidiaries may be potentially responsible for any Hazardous Materials Activity;


 


(iv)
prompt written notice describing in reasonable detail (1) any proposed acquisition of stock, assets, or property by Holdings
or any of its Subsidiaries that could reasonably be expected to (A) expose Holdings or any of its Subsidiaries to, or result in,
Environmental Claims that could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or
(B) affect the ability of Holdings or any of its Subsidiaries to maintain in full force and effect all material Governmental Authorizations
required under any Environmental Laws for their respective operations and (2) any proposed action to be taken by Holdings
or any of its Subsidiaries to modify current operations in a manner that could reasonably be expected to subject Holdings or any
of its Subsidiaries to any additional material obligations or requirements under any Environmental Laws; and


 






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(v)
with reasonable promptness, such other documents and information as from time to time may be reasonably requested by Administrative
Agent in relation to any matters disclosed pursuant to this Section 5.9(a).


 


(b)
Hazardous Materials Activities, Etc. Each Credit Party shall promptly take, and shall cause each of its Subsidiaries promptly
to take, any and all actions necessary to (i) cure any violation of applicable Environmental Laws by such Credit Party or its
Subsidiaries that could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, and (ii)
make an appropriate response to any Environmental Claim against such Credit Party or any of its Subsidiaries and discharge any
obligations it may have to any Person thereunder where failure to do so could reasonably be expected to have, individually or
in the aggregate, a Material Adverse Effect.


 


5.10.
Subsidiaries. In the event that any Person becomes a Subsidiary of Holdings, the Credit Parties shall (a) concurrently with
such Person becoming a Domestic Subsidiary cause such Subsidiary to become a Company hereunder by executing and delivering to
Administrative Agent and Collateral Agent a Counterpart Agreement, and a Grantor under the Pledge and Security Agreement by executing
and delivering to Administrative Agent and Collateral Agent a Counterpart Agreement; and (b) take all such actions and execute
and deliver, or cause to be executed and delivered, all such documents, instruments, agreements, and certificates as are similar
to those described in Sections 3.1(b), 3.1(i), 3.1(j), 3.1(k), and 3.1(n). With respect to each such Subsidiary, the Company Representative
shall promptly send to Administrative Agent written notice setting forth with respect to such Person (i) the date on which such
Person became a Subsidiary of Holdings, and (ii) all of the data required to be set forth in Schedules 4.1 and 4.2 with respect
to all Subsidiaries of Holdings; provided, such written notice shall be deemed to supplement Schedule 4.1 and 4.2 for all purposes
hereof.


 


5.11.
Additional Material Real Estate Assets. In the event that any Credit Party acquires or leases a Material Real Estate Asset
after the Restatement Date or a Real Estate Asset owned or leased becomes a Material Real Estate Asset after the Restatement Date
and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for
the benefit of Secured Parties, then such Credit Party, contemporaneously with acquiring such Material Real Estate Asset, or promptly
after a Real Estate Asset owned or leased becomes a Material Real Estate Asset (and in any event within 30 days or such longer
period approved by the Administrative Agent in writing), shall deliver the Real Estate Mortgage Requirements and take all such
actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements,
opinions and certificates similar to those described in Sections 3.1(j), 3.1(k) and 3.1(n) with respect to each such Material
Real Estate Asset that Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured
Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in
such Material Real Estate Assets. In addition to the foregoing, the Credit Parties shall, at the request of Requisite Lenders,
deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets
with respect to which Collateral Agent has been granted a Lien.


 






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5.12.
Reserved.


 


5.13.
Further Assurances. At any time or from time to time upon the request of Administrative Agent, each Credit Party will, at
its expense, promptly execute, acknowledge and deliver such further documents and do such other acts and things as Administrative
Agent or Collateral Agent may reasonably request in order to effect fully the purposes of the Credit Documents, including providing
Lenders with any information reasonably requested pursuant to Section 10.21. In furtherance and not in limitation of the foregoing,
each Credit Party shall take such actions as Administrative Agent or Collateral Agent may reasonably request from time to time
to ensure that the Obligations remain the joint and several obligations of each and all Companies, remain guaranteed by the Guarantors
and are secured by substantially all of the assets of Holdings, and its Subsidiaries and all of the outstanding Capital Stock
of the Companies and their respective Subsidiaries. No Credit Party (other than Holdings) shall, nor shall it permit any of its
Subsidiaries to, issue any Capital Stock after the Restatement Date unless concurrently with such issuance, the Credit Parties
shall cause such Capital Stock to be subject to a perfected First Priority Lien in favor of the Collateral Agent for the benefit
of the Secured Parties, and shall deliver all such documents, opinions, filings, searches and other deliverables as the Collateral
Agent shall require in connection therewith.


 


5.14.
Miscellaneous Business Covenants. Unless otherwise consented to by Agents and Requisite Lenders:


 


(a) Non-Consolidation.
Holdings will and will cause each of its Subsidiaries to: (i) maintain entity records and books of account separate from
those of any other entity which is an Affiliate of such entity; (ii) not commingle its funds or assets with those of any
other entity which is an Affiliate of such entity; and (iii) provide that its board of directors or other analogous governing
body will hold all appropriate meetings to authorize and approve such entity’s actions, which meetings will be separate
from those of other entities.


 


(b) Cash
Management Systems. Holdings and its Subsidiaries shall establish and maintain cash management systems reasonably
acceptable to Administrative Agent, including, without limitation, with respect to blocked account arrangements.


 


(c) Communication
with Accountants. Each Credit Party executing this Agreement authorizes Administrative Agent to communicate directly
with such Credit Party’s independent certified public accountants and authorizes and shall instruct those accountants
to communicate (including the delivery of audit drafts and letters to management) with Administrative Agent and each Lender
information relating to any Credit Party with respect to the business, results of operations and financial condition of any
Credit Party; provided however, that Administrative Agent or the applicable Lender, as the case may be, shall provide such
Credit Party with notice at least two (2) Business Days prior to first initiating any such communication.


 






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(d)
Activities of Management. Each member of the senior management team of each Credit Party shall devote all or substantially
all of his or her professional working time, attention, and energies to the management of the businesses of the Credit Parties.


 


5.15.
Post Closing Matters. The Companies shall, and shall cause each of the Credit Parties to, satisfy the requirements set
forth on Schedule 5.15 on or before the date specified for such requirement or such later date to be determined by the
Agent.


 


SECTION
6. NEGATIVE COVENANTS


 


Each
Credit Party covenants and agrees that, so long as any Commitment is in effect and until payment in full of all Obligations, such
Credit Party shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this Section 6.


 


6.1.
Indebtedness. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, create, incur,
assume or guaranty, or otherwise become or remain directly or indirectly liable with respect to any Indebtedness, except:


 


(a)
the Obligations;


 


(b)
Indebtedness of any Company to any other Company; provided, (i) all such Indebtedness shall be evidenced by promissory notes and
all such notes shall be subject to a First Priority Lien pursuant to the Pledge and Security Agreement, (ii) all such Indebtedness
shall be unsecured and subordinated in right of payment to the payment in full of the Obligations pursuant to the terms of the
applicable promissory notes or an intercompany subordination agreement that in any such case, is reasonably satisfactory to Administrative
Agent, and (iii) any payment by any such Company under any guaranty of the Obligations shall result in a pro tanto reduction of
the amount of any Indebtedness owed by such Subsidiary to such Company or to any of its Subsidiaries for whose benefit such payment
is made;


 


(c)
Indebtedness incurred by any Company or any of its Subsidiaries arising from agreements providing for indemnification or from
guaranties or letters of credit, surety bonds or performance bonds securing the performance of any Company or any such Subsidiary
pursuant to such agreements, in connection with Permitted Acquisitions or permitted dispositions of any business, assets or Subsidiary
of Holdings or any of its Subsidiaries;


 


(d)
Indebtedness which may be deemed to exist pursuant to any guaranties, performance, surety, statutory or appeal bonds or similar
obligations incurred in the ordinary course of business;


 


(e)
Indebtedness in respect of netting services, overdraft protections and otherwise in connection with Deposit Accounts;


 


(f)
guaranties in the ordinary course of business of the obligations of suppliers, customers, franchisees and licensees of any Company
and its Subsidiaries;


 






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(g)
guaranties by any Company of Indebtedness of another Company or guaranties by a Subsidiary of any Company of Indebtedness of such
Company with respect, in each case, to Indebtedness otherwise permitted to be incurred pursuant to this Section 6.1; provided,
that if the Indebtedness that is being guarantied is unsecured and/or subordinated to the Obligations, the guaranty shall also
be unsecured and/or subordinated to the Obligations; 


 


(h)
Indebtedness described in Schedule 6.1, but not any extensions, renewals or replacements of such Indebtedness except (i)
renewals and extensions expressly provided for in the agreements evidencing any such Indebtedness as the same are in effect on
the date of this Agreement, and (ii) refinancings and extensions of any such Indebtedness if the terms and conditions thereof
are not less favorable to the obligor thereon or to the Lenders than the Indebtedness being refinanced or extended, and the average
life to maturity thereof is greater than or equal to that of the Indebtedness being refinanced or extended; provided, such
Indebtedness permitted under the immediately preceding clause (i) or (ii) above shall not (A) include Indebtedness of an obligor
that was not an obligor with respect to the Indebtedness being extended, renewed or refinanced, (B) exceed in a principal amount
the Indebtedness being renewed, extended or refinanced, or (C) be incurred, created or assumed if any Default or Event of Default
has occurred and is continuing or would result therefrom;


 


(i)
Indebtedness in an aggregate amount not to exceed at any time $1,000,000 with respect to (x) Capital Leases and (y) purchase money
Indebtedness (including any Indebtedness acquired in connection with a Permitted Acquisition); provided, in the case of clause
(x), that any such Indebtedness shall be secured only by the asset subject to such Capital Lease, and, in the case of clause (y),
that any such Indebtedness shall (i) be secured only by the asset acquired in connection with the incurrence of such Indebtedness
and (ii) constitute not less than 85% of the aggregate consideration paid with respect to such asset; 


 


(j)
Subordinated Debt in an aggregate principal amount not to exceed $1,500,000 at any time outstanding (other than any interest paid
in kind in accordance with the subordination terms applicable to such Subordinated Debt); 


 


(k)
Indebtedness of any Person that became a Subsidiary of Holdings after the Closing Date and prior to the Restatement Date in an
aggregate principal amount not to exceed $3,000,000 at any time outstanding; provided, that (x) no Credit Party shall be obligated
with respect to such Indebtedness (whether as a borrower, guarantor or otherwise) except for the original obligor with respect
thereto and (y) such Indebtedness existed at the time such Person became a Subsidiary of Holdings and was not created in anticipation
thereof; and


 


(l)
other unsecured Indebtedness of the Companies and their Subsidiaries other than the types listed in Section 6.1(a) – (k),
which is unsecured and subordinated to the Obligations in a manner satisfactory to Administrative Agent in an aggregate amount
not to exceed at any time $250,000.


 


No
Credit Party shall, nor shall it permit any of its Subsidiaries to, issue any Capital Stock other than Qualified Capital Stock.
To the extent any other Capital Stock of the issuing Credit Party or Subsidiary is pledged to secure the Obligations, such additional
Capital Stock shall also be pledged to secure the Obligations pursuant to the Pledge and Security Agreement.


 






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6.2.
Liens. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, create, incur, assume
or permit to exist any Lien on or with respect to any property or asset of any kind (including any document or instrument in respect
of goods or accounts receivable) of Holdings or any of its Subsidiaries, whether now owned or hereafter acquired, or any income
or profits therefrom, or file or permit the filing of, or permit to remain in effect, any financing statement or other similar
notice of any Lien with respect to any such property, asset, income or profits under the UCC of any State or under any similar
recording or notice statute, except:


 


(a)
Liens in favor of Collateral Agent for the benefit of Secured Parties granted pursuant to any Credit Document;


 


(b)
Liens for Taxes if obligations with respect to such Taxes are being contested in good faith by appropriate proceedings promptly
instituted and diligently conducted (in a manner that causes the enforcement of any such Lien to be stayed) so long as the aggregate
amount of such Taxes does not exceed $250,000;


 


(c)
statutory Liens of landlords, banks (and rights of set-off), of carriers, warehousemen, mechanics, repairmen, workmen and materialmen,
and other Liens imposed by law (other than any such Lien imposed pursuant to Section 401 (a)(29) or 412(n) of the Internal Revenue
Code or by ERISA), in each case incurred in the ordinary course of business (i) for amounts not yet overdue, or (ii) for amounts
that are overdue and that (in the case of any such amounts overdue for a period in excess of five days) are being contested in
good faith by appropriate proceedings instituted and diligently conducted (in a manner that causes the enforcement of any such
Lien to be stayed), so long as such reserves or other appropriate provisions, if any, as shall be required by GAAP shall have
been made for any such contested amounts;


 


(d)
Liens incurred in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other
types of social security, or to secure the performance of tenders, statutory obligations, surety and appeal bonds, bids, leases,
government contracts, trade contracts, performance and return-of-money bonds and other similar obligations (exclusive of obligations
for the payment of borrowed money or other Indebtedness), so long as no foreclosure, sale or similar proceedings have been commenced
with respect to any portion of the Collateral on account thereof; provided, that the aggregate amount secured by Liens
in connection with surety bonds and to secure the performance of tenders shall not exceed the sum of (x) $250,000 and (y) with
respect to bonds posted in connection with customer contracts or the Credit Parties’ closure and post-closure obligations
with respect to any landfill site, the minimum amount required by the bonding company (which shall be nationally or regionally
recognized and reasonably acceptable to the Administrative Agent) with respect to such bond; 


 


(e)
easements, rights-of-way, restrictions, encroachments, and other minor defects or irregularities in title, in each case which
do not and will not interfere in any material respect with the ordinary conduct of the business of Holdings or any of its Subsidiaries;


 


(f)
any interest or title of a lessor or sublessor under any lease of real estate permitted hereunder;


 






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(g)
Liens solely on any cash earnest money deposits made by Holdings or any of its Subsidiaries in connection with any letter of intent
or purchase agreement permitted hereunder;


 


(h)
purported Liens evidenced by the filing of precautionary UCC financing statements relating solely to operating leases of personal
property entered into in the ordinary course of business;


 


(i)
Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection
with the importation of goods;


 


(j)
any zoning or similar law or right reserved to or vested in any governmental office or agency to control or regulate the use of
any real property;


 


(k)
licenses of patents, trademarks and other intellectual property rights granted by any Company or any of its Subsidiaries in the
ordinary course of business and not interfering in any respect with the ordinary conduct of the business of such Company or such
Subsidiary;


 


(l)
Liens existing as of the Restatement Date and described in Schedule 6.2; 


 


(m)
Liens securing Indebtedness permitted pursuant to Section 6.1(i); provided, any such Lien shall encumber only the asset
acquired with the proceeds of such Indebtedness; and


 


(n)
Liens on assets of Credit Parties acquired after the Closing Date and prior to the Restatement Date securing Indebtedness permitted
under Section 6.1(j); provided, that such Lien (i) existed prior to the date such Person became a Subsidiary of Holdings, (ii)
such Lien was not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary of Holdings,
(iii) such Lien does shall not apply to any other asset of Holdings or any of its Subsidiaries, and (iv) such Lien secures only
those obligations that it secured on the date such Person became a Subsidiary of Holdings; and


 


(o)
other Liens on assets other than the Collateral and other than the types listed in Section 6.2(a) – (n) securing
Indebtedness in an aggregate amount not to exceed $250,000 at any time outstanding.


 


6.3.
Equitable Lien. If any Credit Party or any of its Subsidiaries shall create or assume any Lien upon any of its properties
or assets, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions
whereby the Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness secured thereby as
long as any such Indebtedness shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be
construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.


 


6.4.
No Further Negative Pledges. Except with respect to (a) specific property encumbered to secure payment of particular Indebtedness
or to be sold pursuant to an executed agreement with respect to a permitted Asset Sale, (b) restrictions by reason of customary
provisions restricting assignments, subletting or other transfers contained in leases, licenses and similar agreements entered
into in the ordinary course of business (provided that such restrictions are limited to the property or assets secured by such
Liens or the property or assets subject to such leases, licenses or similar agreements, as the case may be) and (c) agreements
with respect to Liens permitted pursuant to Section 6.2(m) (provided that such restrictions are limited to the property or assets
secured by such Liens), no Credit Party nor any of its Subsidiaries shall enter into any agreement prohibiting the creation or
assumption of any Lien upon any of its properties or assets, whether now owned or hereafter acquired.


 






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6.5.
Restricted Junior Payments. No Credit Party shall, nor shall it permit any of its Subsidiaries or Affiliates through any manner
or means or through any other Person to, directly or indirectly, declare, order, pay, make or set apart, or agree to declare,
order, pay, make or set apart, any sum for any Restricted Junior Payment except that so long as no Default or Event of Default
shall have occurred and be continuing or shall be caused thereby, the Companies may make Restricted Junior Payments (i) to Holdings
in an aggregate amount not to exceed $250,000 in any trailing twelve month period, to the extent necessary to permit Holdings
to pay general administrative costs and expenses, (ii) to Holdings to the extent necessary to permit Holdings to discharge the
consolidated tax liabilities of Holdings and its Subsidiaries, in each case so long as Holdings applies the amount of any such
Restricted Junior Payment for such purpose, (iii) by any Credit Party to any Credit Party other than Holdings, and (iv) so long
as no Default or Event of Default has occurred and is continuing and such payment is otherwise permitted under the applicable
subordination terms, regularly scheduled interest payments on Subordinated Debt at a rate not to exceed 8.00% per annum. Notwithstanding
anything herein to the contrary, no amount shall be permitted to be distributed by any Credit Party to pay, or otherwise in connection
with, any Tax resulting from the cancellation or discharge of Indebtedness.


 


6.6.
Restrictions on Subsidiary Distributions. Except as provided herein, no Credit Party shall, nor shall it permit any of its
Subsidiaries to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of
any kind on the ability of any Subsidiary of Holdings to (a) pay dividends or make any other distributions on any of such Subsidiary’s
Capital Stock owned by Holdings or any of its other Subsidiaries, (b) repay or prepay any Indebtedness owed by such Subsidiary
to Holdings or any of its other Subsidiaries, (c) make loans or advances to any Credit Party, or (d) transfer any of its property
or assets to any Credit Party other than restrictions (i) in agreements evidencing purchase money Indebtedness permitted by Section
6.1(j) that impose restrictions on the property so acquired, (ii) by reason of customary provisions restricting assignments, subletting
or other transfers contained in leases, licenses, joint venture agreements and similar agreements entered into in the ordinary
course of business, and (iii) that are or were created by virtue of any transfer of, agreement to transfer or option or right
with respect to any property, assets or Capital Stock not otherwise prohibited under this Agreement.


 


6.7.
Investments. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, make or own any
Investment in any Person, including without limitation any Joint Venture and any Foreign Subsidiary, except:


 


(a)
Investments in Cash and Cash Equivalents;


 






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(b)
equity Investments owned as of the Restatement Date in any Subsidiary and Investments made after the Restatement Date in any wholly
owned Subsidiary of Holdings that becomes a Company as required hereunder;


 


(c)
Investments in deposits, prepayments and other credits to suppliers made in the ordinary course of business consistent with the
past practices of Holdings and its Subsidiaries;


 


(d)
intercompany loans to the extent permitted under Section 6.1(b);


 


(e)
Consolidated Capital Expenditures permitted by Section 6.8(e);


 


(f)
loans and advances to employees of Holdings and its Subsidiaries (i) made in the ordinary course of business and described on
Schedule 6.7, and (ii) any refinancings of such loans after the Restatement Date in an aggregate amount not to exceed $250,000;


 


(g)
Investments made in connection with Permitted Acquisitions permitted pursuant to Section 6.9;


 


(h)
Investments described in Schedule 6.7; and


 


(i)
other Investments in an aggregate amount not to exceed at any time $250,000.


 


Notwithstanding
the foregoing, in no event shall any Credit Party or any Subsidiary of a Credit Party make any Investment which results in or
facilitates in any manner any Restricted Junior Payment not otherwise permitted under the terms of Section 6.5.


 


6.8.
Financial Covenants.


 


(a)
Consolidated Adjusted EBITDA. Holdings shall not permit Consolidated Adjusted EBITDA as at the end of any Fiscal Quarter,
beginning with the Fiscal Quarter ending September 30, 2018, for the four Fiscal Quarter period then ended to be less than the
correlative amount indicated:


 


	Fiscal Quarter	 	Consolidated Adjusted EBITDA	 
	September 30, 2018	 	$	0	 
	December 31, 2018	 	$	500,000	 
	March 31, 2019	 	$	1,000,000	 
	June 30, 2019	 	$	2,000,000	 
	September 30, 2019	 	$	3,000,000	 
	December 31, 2019 and each Fiscal Quarter ending thereafter	 	$	4,000,000	 



 






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(b)
Minimum Consolidated Liquidity. Holdings shall not permit Consolidated Liquidity on any date to be less than $500,000.



 


(c)
Certain Calculations. With respect to any period during which a Permitted Acquisition or an Asset Sale has occurred (each,
a “Subject Transaction”), for purposes of determining compliance with the financial covenants set forth in this Section
6.8 (but not for purposes of determining the Applicable Margin), Consolidated Adjusted EBITDA shall be calculated with respect
to such period on a pro forma basis (including pro forma adjustments approved by Administrative Agent in its sole discretion)
using the historical financial statements of any business so acquired or to be acquired or sold or to be sold and the consolidated
financial statements of Holdings and its Subsidiaries which shall be reformulated as if such Subject Transaction, and any Indebtedness
incurred or repaid in connection therewith, had been consummated or incurred or repaid at the beginning of such period (and assuming
that such Indebtedness bears interest during any portion of the applicable measurement period prior to the relevant acquisition
at the weighted average of the interest rates applicable to outstanding Loans incurred during such period. 


 


(d)
For the purposes of determining compliance with the covenant set forth at Section 6.8(c) following consummation of a Permitted
Acquisition, each of the minimum Consolidated Adjusted EBITDA amounts set forth in Section 6.8(c) shall be increased by 100%
of EBITDA of the entity or assets being acquired for the four quarter period most recently ended prior to the consummation of
such Permitted Acquisition.


 


6.9.
Fundamental Changes; Disposition of Assets; Acquisitions. No Credit Party shall, nor shall it permit any of its Subsidiaries
to, enter into any transaction of merger or consolidation, or liquidate, wind-up or dissolve itself (or suffer any liquidation
or dissolution), or convey, sell, lease or sub-lease (as lessor or sublessor), exchange, transfer or otherwise dispose of, in
one transaction or a series of transactions, all or any part of its business, assets or property of any kind whatsoever, whether
real, personal or mixed and whether tangible or intangible, whether now owned or hereafter acquired, or acquire by purchase or
otherwise (other than purchases or other acquisitions of inventory, materials and equipment and Capital Expenditures in the ordinary
course of business) the business, property or fixed assets of, or stock or other evidence of beneficial ownership of, any Person
or any division or line of business or other business unit of any Person, except:


 


(a)
any Subsidiary of Holdings may be merged with or into any Company, or be liquidated, wound up or dissolved, or all or any part
of its business, property or assets may be conveyed, sold, leased, transferred or otherwise disposed of, in one transaction or
a series of transactions, to any Company; provided, in the case of such a merger, such Company shall be the continuing or surviving
Person;


 


(b)
sales or other dispositions of assets that do not constitute Asset Sales;


 


(c)
Asset Sales, the proceeds of which (i) are less than $150,000 with respect to any single Asset Sale or series of related Asset
Sales, and (ii) when aggregated with the proceeds of all other Asset Sales made within the trailing twelve month period, are less
than $250,000; provided (1) the consideration received for such assets shall be in an amount at least equal to the fair
market value thereof (determined in good faith by the board of directors of the applicable Company or Subsidiary (or similar governing
body)), (2) no less than 100% thereof shall be paid in Cash, and (3) the Net Asset Sale Proceeds thereof shall be applied as required
by Section 2.13(a);


 






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(d)
disposals of obsolete or worn out property;


 


(e)
Permitted Acquisitions, the aggregate consideration (including without limitation, all transaction costs, assumed Indebtedness
and other liabilities and deferred payments, including earnouts) for which constitutes less than (i) $1,000,000 with respect to
any single Permitted Acquisition, and (iii) $3,000,000 in any trailing twelve month period; and


 


(f)
Investments made in accordance with Section 6.7.


 


6.10.
Disposal of Subsidiary Interests. Except for any sale of all of its interests in the Capital Stock of any of its Subsidiaries
in compliance with the provisions of Section 6.9, no Credit Party shall, nor shall it permit any of its Subsidiaries to, (a) directly
or indirectly sell, assign, pledge or otherwise encumber or dispose of any Capital Stock of any of its Subsidiaries, except to
qualify directors if required by applicable law; or (b) permit any of its Subsidiaries directly or indirectly to sell, assign,
pledge or otherwise encumber or dispose of any Capital Stock of any of its Subsidiaries, except to another Credit Party (subject
to the restrictions on such disposition otherwise imposed hereunder), or to qualify directors if required by applicable law.


 


6.11.
Sales and Lease-Backs. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, become
or remain liable as lessee or as a guarantor or other surety with respect to any lease of any property (whether real, personal
or mixed), whether now owned or hereafter acquired, which such Credit Party (a) has sold or transferred or is to sell or to transfer
to any other Person (other than Holdings or any of its Subsidiaries), or (b) intends to use for substantially the same purpose
as any other property which has been or is to be sold or transferred by such Credit Party to any Person (other than Holdings or
any of its Subsidiaries) in connection with such lease.


 


6.12.
Transactions with Shareholders and Affiliates. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly
or indirectly, enter into, permit to exist or fail to enforce any transaction (including the purchase, sale, lease or exchange
of any property or the rendering of any service) with any holder of 5% or more of any class of Capital Stock of Holdings or any
of its Subsidiaries (or any Affiliate of such holder) or with any Affiliate of Holdings (solely for purposes of this Section 6.12,
including each Non-Management Shareholder) or of any such holder; provided, however, that the Credit Parties and their Subsidiaries
may enter into or permit to exist any such transaction if both (x) the Administrative Agent has consented thereto in writing prior
to the consummation thereof and (y) the terms of such transaction are not less favorable to Holdings or that Subsidiary, as the
case may be, than those that might be obtained at the time from a Person who is not such a holder or Affiliate; further, provided,
that the foregoing restrictions shall not apply to (a) any transaction between and among any Company and any other Company; (b)
reasonable and customary fees paid to members of the board of directors (or similar governing body) of Holdings and its Subsidiaries;
(c) compensation arrangements for officers and other employees of Holdings and its Subsidiaries entered into in the ordinary course
of business; and (d) transactions described in Schedule 6.12. The Credit Parties shall disclose in writing each transaction with
any holder of 5% or more of any class of Capital Stock of Holdings or any of its Subsidiaries or with any Affiliate of Holdings
or of any such holder to Administrative Agent.


 






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6.13.
Conduct of Business; Foreign Subsidiaries. From and after the Restatement Date, no Credit Party shall, nor shall it permit
any of its Subsidiaries to, engage in any business other than the businesses engaged in by any Credit Party on the Restatement
Date. No Credit Party shall form, create, or incorporate any Foreign Subsidiary.


 


6.14.
Permitted Activities of Holdings. Holdings shall not (a) incur, directly or indirectly, any Indebtedness or any other obligation
or liability whatsoever other than the Indebtedness and obligations under the Credit Documents; (b) create or suffer to exist
any Lien upon any property or assets now owned or hereafter acquired by it other than the Liens created under the Collateral Documents
to which it is a party or permitted pursuant to Section 6.2; (c) engage in any business or activity or own any assets other than
(i) holding 100% of the Capital Stock of the Companies; (ii) performing its obligations and activities incidental thereto under
the Credit Documents; and (iii) making Restricted Junior Payments and Investments to the extent permitted by this Agreement; (d)
consolidate with or merge with or into, or convey, transfer or lease all or substantially all its assets to, any Person; (e) sell
or otherwise dispose of any Capital Stock of any of its Subsidiaries; (f) create or acquire any Subsidiary or make or own any
Investment in any Person other than the Credit Parties; (g) issue any Capital Stock after the Restatement Date, other than common
shares of Capital Stock; or (h) fail to hold itself out to the public as a legal entity separate and distinct from all other Persons.


 


6.15.
Amendments or Waivers of Certain Material Agreements. No Credit Party shall nor shall it permit any of its Subsidiaries to,
agree to any material amendment, restatement, supplement or other modification to, or waiver of, any of its material rights under
any material agreement without in each case obtaining the prior written consent of Administrative Agent and Requisite Lenders
to such amendment, restatement, supplement or other modification or waiver.


 


6.16.
Compliance with Reporting Requirements. From and after the Restatement Date, to the extent applicable to Holdings, Holdings
shall comply with the Securities Act, Exchange Act, the rules and regulations promulgated thereunder and each other law, rule
and regulation applicable to Holdings due to its status as a publicly traded company. Holdings shall at all times maintain systems
of internal controls and corporate governance standards consistent with best practices for a publicly traded company of its size.
Without limiting the foregoing, Holdings shall ensure that all filings with the Securities and Exchange Commission required under
the Securities Act, Exchange Act or the rules and regulations thereunder are made on or prior to the date required thereunder
without giving effect to any extension or possible extension of such dates permitted thereunder.


 


6.17.
Fiscal Year. No Credit Party shall, nor shall it permit any of its Subsidiaries to change its Fiscal Year-end from December
31.


 






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6.18.
Deposit Accounts. Subject to Section 5.15, no Credit Party shall establish or maintain a Deposit Account that is not a Controlled
Account and no Credit Party will deposit proceeds in a Deposit Account which is not a Controlled Account.


 


6.19.
Amendments to Organizational Agreements and Material Contracts. No Credit Party shall (a) amend or permit any amendments to
any Credit Party's Organizational Documents; or (b) amend or permit any amendments to, or terminate or waive any provision of,
any Material Contract if such amendment, termination, or waiver would be adverse to Administrative Agent or the Lenders.


 


6.20.
Prepayments of Certain Indebtedness. No Credit Party shall, nor shall it permit any of its Affiliates to, directly or indirectly,
purchase, redeem, defease or prepay any principal of, premium, if any, interest or other amount payable in respect of any Indebtedness
prior to its scheduled maturity, other than (i) the Obligations, and (ii) Indebtedness secured by a Permitted Lien if the asset
securing such Indebtedness has been sold or otherwise disposed of in accordance with Section 6.9.


 


6.21
Limitations on LGMG. Notwithstanding anything to the contrary herein, unless and until all Indebtedness set forth on Schedule
6.1 shall have been paid in full and all Liens securing such Indebtedness shall have been released, no Credit Party shall make
any Investment in LGMG or transfer any assets to LGMG.


 


SECTION
7. GUARANTY


 


7.1.
Guaranty of the Obligations.


 


(a)
Subject to the provisions of Section 7.2, each Company, jointly and severally, hereby irrevocably and unconditionally guarantees
to Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment in full of all Obligations of
the other Companies when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration,
demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a)
of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Company Guaranteed Obligations”) and agrees
that all Obligations, including all interest, fees and expenses with respect thereto and all indemnity and reimbursement obligations
hereunder, constitute one joint and several direct and general obligation of all Companies. Notwithstanding anything to the contrary
contained herein, each Company shall be jointly and severally, with each other Company, directly and unconditionally, liable for
all Obligations, it being understood that the advances to each Company inure to the benefit of all Companies, and that the Administrative
Agent and the Lenders are relying on the joint and several liability of the Companies as co-makers in extending the Loans hereunder.
Each Company hereby unconditionally and irrevocably agrees that upon default in the payment when due (whether at stated maturity,
by acceleration or otherwise) of any principal of, or interest on, any Obligation, it will forthwith pay the same, without notice
or demand, unless such payment is then prohibited by applicable law.


 






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(b)
Each Guarantor hereby irrevocably and unconditionally guaranty to Administrative Agent for the ratable benefit of the Beneficiaries
the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required
prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the
automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively with the Company Guaranteed
Obligations, the “Guaranteed Obligations”).


 


7.2.
Contribution by Credit Parties. All Credit Parties desire to allocate among themselves (collectively, the “Contributing
Credit Parties”), in a fair and equitable manner, their obligations arising under this Guaranty. Accordingly, in the
event any payment or distribution is made on any date by any Credit Party, as applicable (a “Funding Credit Party”)
under this Guaranty such that its Aggregate Payments exceeds its Fair Share as of such date, such Funding Credit Party shall be
entitled to a contribution from each of the other Contributing Credit Parties in an amount sufficient to cause each Contributing
Credit Party’s Aggregate Payments to equal its Fair Share as of such date. “Fair Share” means, with respect
to a Contributing Credit Party as of any date of determination, an amount equal to (a) the ratio of (i) the Fair Share Contribution
Amount with respect to such Contributing Credit Party, to (ii) the aggregate of the Fair Share Contribution Amounts with respect
to all Contributing Credit Parties multiplied by, (b) the aggregate amount paid or distributed on or before such date by all Funding
Credit Parties under this Guaranty in respect of the obligations Guaranteed. “Fair Share Contribution Amount” means,
with respect to a Contributing Credit Party as of any date of determination, the maximum aggregate amount of the obligations of
such Contributing Credit Party under this Guaranty that would not render its obligations hereunder subject to avoidance as a fraudulent
transfer or conveyance under Section 548 of Title 11 of the United States Code or any comparable applicable provisions of state
law; provided, solely for purposes of calculating the “Fair Share Contribution Amount” with respect to any
Contributing Credit Party for purposes of this Section 7.2, any assets or liabilities of such Contributing Credit Party arising
by virtue of any rights to subrogation, reimbursement or indemnification or any rights to or obligations of contribution hereunder
shall not be considered as assets or liabilities of such Contributing Credit Party. “Aggregate Payments” means, with
respect to a Contributing Credit Party as of any date of determination, an amount equal to (1) the aggregate amount of all payments
and distributions made on or before such date by such Contributing Credit Party in respect of this Guaranty (including, without
limitation, in respect of this Section 7.2), minus (2) the aggregate amount of all payments received on or before such date by
such Contributing Credit Party from the other Contributing Credit Parties as contributions under this Section 7.2. The amounts
payable as contributions hereunder shall be determined as of the date on which the related payment or distribution is made by
the applicable Funding Credit Party. The allocation among Contributing Credit Parties of their obligations as set forth in this
Section 7.2 shall not be construed in any way to limit the liability of any Contributing Credit Party hereunder. Each Credit Party
is a third party beneficiary to the contribution agreement set forth in this Section 7.2.


 


7.3.
Payment by Credit Parties. Subject to Section 7.2, the Credit Parties hereby jointly and severally agree, in furtherance of
the foregoing and not in limitation of any other right which any Beneficiary may have at law or in equity against any Credit Party
by virtue hereof, that upon the failure of any Credit Party to pay any of the Guaranteed Obligations when and as the same shall
become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts
that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. §
362(a)), the other Credit Parties will upon demand pay, or cause to be paid, in Cash, to Administrative Agent for the ratable
benefit of Beneficiaries, an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then due as
aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including interest which, but for any Credit Party’s
becoming the subject of a case under the Bankruptcy Code, would have accrued on such Guaranteed Obligations, whether or not a
claim is allowed against any Credit Party for such interest in the related bankruptcy case) and all other Guaranteed Obligations
then owed to Beneficiaries as aforesaid.


 






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7.4.
Liability of Credit Parties Absolute. Each Credit Party agrees that its obligations hereunder are irrevocable, absolute, independent
and unconditional and shall not be affected by any circumstance which constitutes a legal or equitable discharge of a guarantor
or surety other than payment in full of the Guaranteed Obligations. In furtherance of the foregoing and without limiting the generality
thereof, each Credit Party agrees as follows:


 


(a)
this Guaranty is a guaranty of payment when due and not of collectability. This Guaranty is a primary obligation of each Credit
Party and not merely a contract of surety;


 


(b)
Administrative Agent may enforce this Guaranty upon the occurrence of an Event of Default notwithstanding the existence of any
dispute between Company and any Beneficiary with respect to the existence of such Event of Default;


 


(c)
the obligations of each Credit Party hereunder are independent of the obligations of the other Credit Parties and the obligations
of any other guarantor of the obligations of the Companies, and a separate action or actions may be brought and prosecuted against
such Credit Party whether or not any action is brought against any other Credit Party or any of such other guarantors and whether
or not any Credit Party is joined in any such action or actions;


 


(d)
payment by any Credit Party of a portion, but not all, of the Guaranteed Obligations shall in no way limit, affect, modify or
abridge any Credit Party's liability for any portion of the Guaranteed Obligations which has not been paid. Without limiting the
generality of the foregoing, if Administrative Agent is awarded a judgment in any suit brought to enforce any Credit Party's covenant
to pay a portion of the Guaranteed Obligations, such judgment shall not be deemed to release such Credit Party from its covenant
to pay the portion of the Guaranteed Obligations that is not the subject of such suit, and such judgment shall not, except to
the extent satisfied by such Credit Party, limit, affect, modify or abridge any other Credit Party's liability hereunder in respect
of the Guaranteed Obligations;


 


(e)
any Beneficiary, upon such terms as it deems appropriate, without notice or demand and without affecting the validity or enforceability
hereof or giving rise to any reduction, limitation, impairment, discharge or termination of any Credit Party's liability hereunder,
from time to time may (i) renew, extend, accelerate, increase the rate of interest on, or otherwise change the time, place, manner
or terms of payment of the Guaranteed Obligations; (ii) settle, compromise, release or discharge, or accept or refuse any offer
of performance with respect to, or substitutions for, the Guaranteed Obligations or any agreement relating thereto and/or subordinate
the payment of the same to the payment of any other obligations; (iii) request and accept other guaranties of the Guaranteed Obligations
and take and hold security for the payment hereof or the Guaranteed Obligations; (iv) release, surrender, exchange, substitute,
compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration, any security for payment of the
Guaranteed Obligations, any other guaranties of the Guaranteed Obligations, or any other obligation of any Person (including any
other Credit Party) with respect to the Guaranteed Obligations; (v) enforce and apply any security now or hereafter held by or
for the benefit of such Beneficiary in respect hereof or the Guaranteed Obligations and direct the order or manner of sale thereof,
or exercise any other right or remedy that such Beneficiary may have against any such security, in each case as such Beneficiary
in its discretion may determine consistent herewith or the applicable Interest Rate Agreement and any applicable security agreement,
including foreclosure on any such security pursuant to one or more judicial or nonjudicial sales, whether or not every aspect
of any such sale is commercially reasonable, and even though such action operates to impair or extinguish any right of reimbursement
or subrogation or other right or remedy of any Credit Party against any other Credit Party or any security for the Guaranteed
Obligations; and (vi) exercise any other rights available to it under the Credit Documents or Interest Rate Agreements; and


 






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(f)
this Guaranty and the obligations of Credit Parties hereunder shall be valid and enforceable and shall not be subject to any reduction,
limitation, impairment, discharge or termination for any reason (other than payment in full of the Guaranteed Obligations), including
the occurrence of any of the following, whether or not any Credit Party shall have had notice or knowledge of any of them: (i)
any failure or omission to assert or enforce or agreement or election not to assert or enforce, or the stay or enjoining, by order
of court, by operation of law or otherwise, of the exercise or enforcement of, any claim or demand or any right, power or remedy
(whether arising under the Credit Documents or any Interest Rate Agreement, at law, in equity or otherwise) with respect to the
Guaranteed Obligations or any agreement relating thereto, or with respect to any other guaranty of or security for the payment
of the Guaranteed Obligations; (ii) any rescission, waiver, amendment or modification of, or any consent to departure from, any
of the terms or provisions (including provisions relating to events of default) hereof, any of the other Credit Documents, any
of the Interest Rate Agreements or any agreement or instrument executed pursuant thereto, or of any other guaranty or security
for the Guaranteed Obligations, in each case whether or not in accordance with the terms hereof or such Credit Document, such
Interest Rate Agreement or any agreement relating to such other guaranty or security; (iii) the Guaranteed Obligations, or any
agreement relating thereto, at any time being found to be illegal, invalid or unenforceable in any respect; (iv) the application
of payments received from any source (other than payments received pursuant to the other Credit Documents or any of the Interest
Rate Agreements or from the proceeds of any security for the Guaranteed Obligations, except to the extent such security also serves
as collateral for indebtedness other than the Guaranteed Obligations) to the payment of indebtedness other than the Guaranteed
Obligations, even though any Beneficiary might have elected to apply such payment to any part or all of the Guaranteed Obligations;
(v) any Beneficiary's consent to the change, reorganization or termination of the corporate structure or existence of Holdings
or any of its Subsidiaries and to any corresponding restructuring of the Guaranteed Obligations; (vi) any failure to perfect or
continue perfection of a security interest in any collateral which secures any of the Guaranteed Obligations; (vii) any defenses,
set offs or counterclaims which any Credit Party may allege or assert against any Beneficiary in respect of the Guaranteed Obligations,
including failure of consideration, breach of warranty, payment, statute of frauds, statute of limitations, accord and satisfaction
and usury; and (viii) any other act or thing or omission, or delay to do any other act or thing, which may or might in any manner
or to any extent vary the risk of any Credit Party as an obligor in respect of the Guaranteed Obligations.


 


7.5.
Waivers by Credit Parties. Each Credit Party hereby waives, for the benefit of Beneficiaries: (a) any right to require any
Beneficiary, as a condition of payment or performance by such Credit Party, to (i) proceed against any Credit Party, any other
guarantor of the Guaranteed Obligations or any other Person, (ii) proceed against or exhaust any security held from any Credit
Party, any such other guarantor or any other Person, (iii) proceed against or have resort to any balance of any Deposit Account
or credit on the books of any Beneficiary in favor of any Credit Party or any other Person, or (iv) pursue any other remedy in
the power of any Beneficiary whatsoever; (b) any defense arising by reason of the incapacity, lack of authority or any disability
or other defense of any Credit Party including any defense based on or arising out of the lack of validity or the unenforceability
of the Guaranteed Obligations or any agreement or instrument relating thereto or by reason of the cessation of the liability of
any Credit Party from any cause other than payment in full of the Guaranteed Obligations; (c) any defense based upon any statute
or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome
than that of the principal; (d) any defense based upon any Beneficiary’s errors or omissions in the administration of the
Guaranteed Obligations, except behavior which amounts to bad faith; (e) (i) any principles or provisions of law, statutory or
otherwise, which are or might be in conflict with the terms hereof and any legal or equitable discharge of such Credit Party’s
obligations hereunder, (ii) the benefit of any statute of limitations affecting such Credit Party’s liability hereunder
or the enforcement hereof, (iii) any rights to set offs, recoupments and counterclaims, and (iv) promptness, diligence and any
requirement that any Beneficiary protect, secure, perfect or insure any security interest or lien or any property subject thereto;
(f) notices, demands, presentments, protests, notices of protest, notices of dishonor and notices of any action or inaction, including
acceptance hereof, notices of default hereunder, the Interest Rate Agreements or any agreement or instrument related thereto,
notices of any renewal, extension or modification of the Guaranteed Obligations or any agreement related thereto, notices of any
extension of credit to any Company and notices of any of the matters referred to in Section 7.4 and any right to consent to any
thereof; and (g) any defenses or benefits that may be derived from or afforded by law which limit the liability of or exonerate
guarantors or sureties, or which may conflict with the terms hereof.


 






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7.6.
Credit Parties’ Rights of Subrogation, Contribution, etc. Until the Guaranteed Obligations shall have been indefeasibly
paid in full and all Letters of Credit shall have expired or been cancelled, each Credit Party hereby waives any claim, right
or remedy, direct or indirect, that such Guarantor now has or may hereafter have against any other Credit Party or any of its
assets in connection with this Guaranty or the performance by such Credit Party of its obligations hereunder, in each case whether
such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without
limitation (a) any right of subrogation, reimbursement or indemnification that such Credit Party now has or may hereafter have
against any other Credit Party with respect to the Guaranteed Obligations, (b) any right to enforce, or to participate in, any
claim, right or remedy that any Beneficiary now has or may hereafter have against any other Credit Party, and (c) any benefit
of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary. In addition, until the
Guaranteed Obligations shall have been indefeasibly paid in full and all Letters of Credit shall have expired or been cancelled,
each Credit Party shall withhold exercise of any right of contribution such Credit Party may have against any other obligor (including
any other Credit Party) of the Guaranteed Obligations, including, without limitation, any such right of contribution as contemplated
by Section 7.2. Each Credit Party further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights
of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction
to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Credit Party may have
against any other Credit Party or against any collateral or security, and any rights of contribution such Credit Party may have
against any such other guarantor, shall be junior and subordinate to any rights any Beneficiary may have against any Credit Party,
to all right, title and interest any Beneficiary may have in any such collateral or security, and to any right any Beneficiary
may have against such other guarantor. If any amount shall be paid to any Credit Party on account of any such subrogation, reimbursement,
indemnification or contribution rights at any time when all Guaranteed Obligations shall not have been finally and indefeasibly
paid in full, such amount shall be held in trust for Administrative Agent on behalf of Beneficiaries and shall forthwith be paid
over to Administrative Agent for the benefit of Beneficiaries to be credited and applied against the Guaranteed Obligations, whether
matured or unmatured, in accordance with the terms hereof.


 


7.7.
Subordination of Other Obligations. Any Indebtedness of any Credit Party now or hereafter held by any other Credit Party (the
“Obligee Credit Party”) is hereby subordinated in right of payment to the Guaranteed Obligations, and any such
indebtedness collected or received by the Obligee Credit Party after an Event of Default has occurred and is continuing shall
be held in trust for Administrative Agent on behalf of Beneficiaries and shall forthwith be paid over to Administrative Agent
for the benefit of Beneficiaries to be credited and applied against the Guaranteed Obligations but without affecting, impairing
or limiting in any manner the liability of the Obligee Credit Party under any other provision hereof.


 


7.8.
Continuing Guaranty. This Guaranty is a continuing guaranty and shall remain in effect until all of the Guaranteed Obligations
shall have been indefeasibly paid in full. Each Guarantor hereby irrevocably waives any right to revoke this Guaranty as to future
transactions giving rise to any Guaranteed Obligations.


 


7.9.
Authority of Credit Parties. It is not necessary for any Beneficiary to inquire into the capacity or powers of any Credit
Party or the officers, directors or any agents acting or purporting to act on behalf of any of them.


 






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7.10.
Financial Condition of Credit Parties. Any Credit Extension may be made to any Company or continued from time to time, and
any Interest Rate Agreements may be entered into from time to time, in each case without notice to or authorization from any other
Credit Party regardless of the financial or other condition of any Credit Party at the time of any such grant or continuation
or at the time such Interest Rate Agreement is entered into, as the case may be. No Beneficiary shall have any obligation to disclose
or discuss with any Credit Party its assessment, or any Credit Party’s assessment, of the financial condition of any other
Credit Party. Each Credit Party has adequate means to obtain information from each other Credit Party on a continuing basis concerning
the financial condition of such Credit Party and its ability to perform its obligations under the Credit Documents and the Interest
Rate Agreements, and each Credit Party assumes the responsibility for being and keeping informed of the financial condition of
each other Credit Party and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Credit
Party hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to
the business, operations or conditions of any other Credit Party now known or hereafter known by any Beneficiary.


 


7.11.
Bankruptcy, etc. (a)  So long as any Guaranteed Obligations remain outstanding, no Credit Party shall,
without the prior written consent of Administrative Agent acting pursuant to the instructions of Requisite Lenders, commence or
join with any other Person in commencing any bankruptcy, reorganization or insolvency case or proceeding of or against any other
Credit Party. The obligations of the Credit Parties hereunder shall not be reduced, limited, impaired, discharged, deferred, suspended
or terminated by any case or proceeding, voluntary or involuntary, involving the bankruptcy, insolvency, receivership, reorganization,
liquidation or arrangement of any other Credit Party or by any defense which any other Credit Party may have by reason of the
order, decree or decision of any court or administrative body resulting from any such proceeding.


 


(b)
Each Credit Party acknowledges and agrees that any interest on any portion of the Guaranteed Obligations which accrues after the
commencement of any case or proceeding referred to in clause (a) above (or, if interest on any portion of the Guaranteed Obligations
ceases to accrue by operation of law by reason of the commencement of such case or proceeding, such interest as would have accrued
on such portion of the Guaranteed Obligations if such case or proceeding had not been commenced) shall be included in the Guaranteed
Obligations because it is the intention of the Credit Parties and Beneficiaries that the Guaranteed Obligations which are guaranteed
by the Credit Parties pursuant hereto should be determined without regard to any rule of law or order which may relieve any Credit
Party of any portion of such Guaranteed Obligations. The Credit Parties will permit any trustee in bankruptcy, receiver, debtor
in possession, assignee for the benefit of creditors or similar person to pay Administrative Agent, or allow the claim of Administrative
Agent in respect of, any such interest accruing after the date on which such case or proceeding is commenced.


 


(c)
In the event that all or any portion of the Guaranteed Obligations are paid by any Credit Party, the obligations of the other
Credit Parties hereunder shall continue and remain in full force and effect or be reinstated, as the case may be, in the event
that all or any part of such payment(s) are rescinded or recovered directly or indirectly from any Beneficiary as a preference,
fraudulent transfer or otherwise, and any such payments which are so rescinded or recovered shall constitute Guaranteed Obligations
for all purposes hereunder.


 






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7.12.
Discharge of Guaranty Upon Sale of Guarantor. If all of the Capital Stock of any Credit Party or any of its successors in
interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms
and conditions hereof, the Guaranty of such Credit Party or such successor in interest, as the case may be, hereunder shall automatically
be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such
Asset Sale.


 


7.13.
Qualified ECP Credit Party. Each Qualified ECP Credit Party hereby jointly and severally absolutely, unconditionally and irrevocably
undertakes to provide such funds or other support as may be needed from time to time by each other Credit Party to honor all of
its obligations under this Guaranty in respect of Swap Obligations (provided, however, that each Qualified ECP Credit Party shall
only be liable under this Section 7.13 for the maximum amount of such liability that can be hereby incurred without rendering
its obligations under this Section 7.13 or otherwise under this Guaranty voidable under applicable law relating to fraudulent
conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Credit Party under this
Section 7.13 shall remain in full force and effect until a payment in full in Cash of the Guaranteed Obligations. Each Qualified
ECP Credit Party intends that this Section 7.13 constitute, and this Section 7.13 shall be deemed to constitute, a “keepwell,
support, or other agreement” for the benefit of each other Credit Party for all purposes of Section 1a(18)(A)(v)(II) of
the Commodity Exchange Act.


 


SECTION
8. EVENTS OF DEFAULT


 


8.1.
Events of Default. If any one or more of the following conditions or events shall occur:


 


(a)
Failure to Make Payments When Due. Failure by Companies to pay (i) when due the principal of and premium, if any, on any
Loan whether at stated maturity, by acceleration or otherwise; (ii) when due any installment of principal of any Loan, by notice
of voluntary prepayment, by mandatory prepayment or otherwise; or (iii) within one Business Day of when due any interest on any
Loan or any fee or any other amount due hereunder or under any other Credit Document.


 


(b)
Default in Other Agreements. (i) Failure of any Credit Party or any of its Subsidiaries to pay when due any principal of
or interest on or any other amount payable in respect of one or more items of (x) the Subordinated Debt or (y) any other Indebtedness
(other than Indebtedness referred to in Section 8.1(a)) in an individual principal amount of $50,000 or more or with an aggregate
principal amount of $100,000 or more, in each case beyond the grace period, if any, provided therefor; or (ii) breach or default
by any Credit Party or any of its Subsidiaries with respect to any other material term of (1) one or more items of Subordinated
Debt or other Indebtedness in the individual or aggregate principal amounts referred to in clause (i) above, or (2) any loan
agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness, in each case beyond the grace period,
if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders of that Indebtedness
(or a trustee on behalf of such holder or holders), to cause, that Indebtedness to become or be declared due and payable (or subject
to a compulsory repurchase or redeemable) prior to its stated maturity or the stated maturity of any underlying obligation, as
the case may be; or


 






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(c)
Breach of Certain Covenants. Failure of any Credit Party to perform or comply with any term or condition contained in Section
2.5, Section 5.1, Section 5.2, Section 5.3, Section 5.4, Section 5.5, Section 5.6, Section 5.7, Section 5.8, Section 5.9, Section
5.10, Section 5.11, Section 5.14, Section 5.15 or Section 6; or


 


(d)
Breach of Representations, etc. Any representation, warranty, certification or other statement made or deemed made by any
Credit Party in any Credit Document or in any statement or certificate at any time given by any Credit Party or any of its Subsidiaries
in writing pursuant hereto or thereto or in connection herewith or therewith shall be false in any material respect as of the
date made or deemed made; or


 


(e)
Other Defaults Under Credit Documents. Any Credit Party shall default in the performance of or compliance with any term
contained herein or any of the other Credit Documents, other than any such term referred to in any other Section of this Section 8.1,
and such default shall not have been remedied or waived within thirty days after the earlier of (i) an officer of such Credit
Party becoming aware of such default, or (ii) receipt by the Company of notice from Administrative Agent or any Lender of such
default; or


 


(f)
Involuntary Bankruptcy; Appointment of Receiver, etc. (i) A court of competent jurisdiction shall enter a decree or order
for relief in respect of Holdings or any of its Subsidiaries in an involuntary case under the Bankruptcy Code or under any other
applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other
similar relief shall be granted under any applicable federal or state law; or (ii) an involuntary case shall be commenced
against Holdings or any of its Subsidiaries under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or
similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment
of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings or any of its
Subsidiaries, or over all or a substantial part of its property, shall have been entered; or there shall have occurred the involuntary
appointment of an interim receiver, trustee or other custodian of Holdings or any of its Subsidiaries for all or a substantial
part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial
part of the property of Holdings or any of its Subsidiaries, and any such event described in this clause (ii) shall continue for
sixty days without having been dismissed, bonded or discharged; or


 


(g)
Voluntary Bankruptcy; Appointment of Receiver, etc. (i) Holdings or any of its Subsidiaries shall have an order for relief
entered with respect to it or shall commence a voluntary case under the Bankruptcy Code or under any other applicable bankruptcy,
insolvency or similar law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case,
or to the conversion of an involuntary case to a voluntary case, under any such law, or shall consent to the appointment of or
taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; or Holdings or any
of its Subsidiaries shall make any assignment for the benefit of creditors; or (ii) Holdings or any of its Subsidiaries shall
be unable, or shall fail generally, or shall admit in writing its inability, to pay its debts as such debts become due; or the
board of directors (or similar governing body) of Holdings or any of its Subsidiaries (or any committee thereof) shall adopt any
resolution or otherwise authorize any action to approve any of the actions referred to herein or in Section 8.1(f); or


 






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(h)
Judgments and Attachments. Any money judgment, writ or warrant of attachment or similar process involving (i) in any
individual case an amount in excess of $100,000 or (ii) in the aggregate at any time an amount in excess of $200,000 (in
either case to the extent not adequately covered by insurance as to which a solvent and unaffiliated insurance company has acknowledged
coverage) shall be entered or filed against Holdings or any of its Subsidiaries or any of their respective assets and shall remain
undischarged, unvacated, unbonded or unstayed for a period of sixty days (or in any event later than five days prior to the date
of any proposed sale thereunder); or


 


(i)
Dissolution. Any order, judgment or decree shall be entered against any Credit Party or any of its Subsidiaries decreeing
the dissolution or split up of such Credit Party or any of its Subsidiaries and such order shall remain undischarged or unstayed
for a period in excess of thirty days; or


 


(j)
Employee Benefit Plans. (i) There shall occur one or more ERISA Events which individually or in the aggregate results in
or might reasonably be expected to result in liability of Holdings, any of its Subsidiaries or any of their respective ERISA Affiliates
in excess of $100,000 during the term hereof; or (ii) there exists any fact or circumstance that reasonably could be expected
to result in the imposition of a Lien or security interest under Section 430(k) of the Internal Revenue Code or under Section
303(k) of ERISA; or


 


(k)
Change of Control. A Change of Control shall occur; or


 


(l)
Guaranties, Collateral Documents and other Credit Documents. At any time after the execution and delivery thereof, (i)
the Guaranty for any reason, other than the satisfaction in full of all Obligations, shall cease to be in full force and effect
(other than in accordance with its terms) or shall be declared to be null and void or any Guarantor shall repudiate its obligations
thereunder, (ii) this Agreement or any Collateral Document ceases to be in full force and effect (other than by reason of a release
of Collateral in accordance with the terms hereof or thereof or the satisfaction in full of the Obligations in accordance with
the terms hereof) or shall be declared null and void, or Collateral Agent shall not have or shall cease to have a valid and perfected
Lien in any Collateral purported to be covered by the Collateral Documents with the priority required by the relevant Collateral
Document, in each case for any reason other than the failure of Collateral Agent or any Secured Party to take any action within
its control, or (iii) any Credit Party shall contest the validity or enforceability of any Credit Document in writing or deny
in writing that it has any further liability, including with respect to future advances by Lenders, under any Credit Document
to which it is a party; or


 


(m)
Termination of Material Contract. At any time any Material Contract is terminated by the counterparty thereto prior to
the stated expiration or termination date of such Material Contract (other than a termination without cause by such counterparty
which constitutes a breach of the applicable Material Contract);


 






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THEN,
(1) upon the occurrence of any Event of Default described in Section 8.1(f) or 8.1(g), automatically, and (2) upon the occurrence
of any other Event of Default, at the request of (or with the consent of) Requisite Lenders, upon notice to the Company Representative
by Administrative Agent, (A) the Commitments, if any, of each Lender having such Commitments shall immediately terminate;
(B) each of the following shall immediately become due and payable, in each case without presentment, demand, protest or other
requirements of any kind, all of which are hereby expressly waived by each Credit Party: (I) the unpaid principal amount of and
accrued interest on the Loans and (II) all other Obligations; and (C) Administrative Agent may cause Collateral Agent to
enforce any and all Liens and security interests created pursuant to Collateral Documents.


 


SECTION
9. AGENTS


 


9.1.
Appointment of Agents. GSSLG is hereby appointed Administrative Agent and Collateral Agent hereunder and under the other Credit
Documents and each Lender hereby authorizes GSSLG, in such capacity, to act as its agent in accordance with the terms hereof and
the other Credit Documents. Each Agent hereby agrees to act upon the express conditions contained herein and the other Credit
Documents, as applicable. The provisions of this Section 9 are solely for the benefit of Agents and Lenders and no Credit Party
shall have any rights as a third party beneficiary of any of the provisions thereof. In performing its functions and duties hereunder,
each Agent shall act solely as an agent of Lenders and does not assume and shall not be deemed to have assumed any obligation
towards or relationship of agency or trust with or for Holdings or any of its Subsidiaries.


 


9.2.
Powers and Duties. Each Lender irrevocably authorizes each Agent to take such action on such Lender’s behalf and to
exercise such powers, rights and remedies hereunder and under the other Credit Documents as are specifically delegated or granted
to such Agent by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto.
Each Lender further irrevocably authorizes each of the Administrative Agent and Collateral Agent to execute and deliver the Credit
Documents to which it is a party and to exercise its rights and remedies thereunder. Each Agent shall have only those duties and
responsibilities that are expressly specified herein and the other Credit Documents. Each Agent may exercise such powers, rights
and remedies and perform such duties by or through its agents or employees. No Agent shall have, by reason hereof or any of the
other Credit Documents, a fiduciary relationship in respect of any Lender; and nothing herein or any of the other Credit Documents,
expressed or implied, is intended to or shall be so construed as to impose upon any Agent any obligations in respect hereof or
any of the other Credit Documents except as expressly set forth herein or therein.


 


9.3.
General Immunity.


 


(a)
No Responsibility for Certain Matters. No Agent shall be responsible to any Lender for the execution, effectiveness, genuineness,
validity, enforceability, collectability or sufficiency hereof or any other Credit Document or for any representations, warranties,
recitals or statements made herein or therein or made in any written or oral statements or in any financial or other statements,
instruments, reports or certificates or any other documents furnished or made by any Agent to Lenders or by or on behalf of any
Credit Party to any Agent or any Lender in connection with the Credit Documents and the transactions contemplated thereby or for
the financial condition or business affairs of any Credit Party or any other Person liable for the payment of any Obligations,
nor shall any Agent be required to ascertain or inquire as to the performance or observance of any of the terms, conditions, provisions,
covenants or agreements contained in any of the Credit Documents or as to the use of the proceeds of the Loans or as to the existence
or possible existence of any Event of Default or Default or to make any disclosures with respect to the foregoing. Anything contained
herein to the contrary notwithstanding, Administrative Agent shall not have any liability arising from confirmations of the amount
of outstanding Loans or the component amounts thereof.


 






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(b)
Exculpatory Provisions. No Agent nor any of its officers, partners, directors, employees or agents shall be liable to Lenders
for any action taken or omitted by any Agent under or in connection with any of the Credit Documents except to the extent caused
by such Agent’s gross negligence or willful misconduct, as determined by a court of competent jurisdiction in a final, non-appealable
order. Each Agent shall be entitled to refrain from any act or the taking of any action (including the failure to take an action)
in connection herewith or any of the other Credit Documents or from the exercise of any power, discretion or authority vested
in it hereunder or thereunder unless and until such Agent shall have received instructions in respect thereof from Requisite Lenders
(or such other Lenders as may be required to give such instructions under Section 10.5) and, upon receipt of such instructions
from Requisite Lenders (or such other Lenders, as the case may be), such Agent shall be entitled to act or (where so instructed)
refrain from acting, or to exercise such power, discretion or authority, in accordance with such instructions. Without prejudice
to the generality of the foregoing, (i) each Agent shall be entitled to rely, and shall be fully protected in relying, upon
any communication, instrument or document believed by it to be genuine and correct and to have been signed or sent by the proper
Person or Persons, and shall be entitled to rely and shall be protected in relying on opinions and judgments of attorneys (who
may be attorneys for Holdings and its Subsidiaries), accountants, experts and other professional advisors selected by it; and
(ii) no Lender shall have any right of action whatsoever against any Agent as a result of such Agent acting or (where so
instructed) refraining from acting hereunder or any of the other Credit Documents in accordance with the instructions of Requisite
Lenders (or such other Lenders as may be required to give such instructions under Section 10.5).


 


9.4.
Agents Entitled to Act as Lender. The agency hereby created shall in no way impair or affect any of the rights and powers
of, or impose any duties or obligations upon, any Agent in its individual capacity as a Lender hereunder. With respect to its
participation in the Loans, each Agent shall have the same rights and powers hereunder as any other Lender and may exercise the
same as if it were not performing the duties and functions delegated to it hereunder, and the term “Lender” shall,
unless the context clearly otherwise indicates, include each Agent in its individual capacity. Any Agent and its Affiliates may
accept deposits from, lend money to, own Securities of, and generally engage in any kind of banking, trust, financial advisory
or other business with Holdings or any of its Affiliates as if it were not performing the duties specified herein, and may accept
fees and other consideration from Company for services in connection herewith and otherwise without having to account for the
same to Lenders.


 






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9.5.
Lenders’ Representations, Warranties and Acknowledgment.


 


(a)
Each Lender represents and warrants that it has made its own independent investigation of the financial condition and affairs
of Holdings and its Subsidiaries in connection with Credit Extensions hereunder and that it has made and shall continue to make
its own appraisal of the creditworthiness of Holdings and its Subsidiaries. No Agent shall have any duty or responsibility, either
initially or on a continuing basis, to make any such investigation or any such appraisal on behalf of Lenders or to provide any
Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the
Loans or at any time or times thereafter, and no Agent shall have any responsibility with respect to the accuracy of or the completeness
of any information provided to Lenders.


 


(b)
[reserved].


 


(c)
Each Lender (i) represents and warrants that as of the Restatement Date neither such Lender nor its Affiliates or Related Funds
owns or controls, or owns or controls any Person owning or controlling, any trade debt or Indebtedness of any Credit Party other
than the Obligations or any Capital Stock of any Credit Party (other than the Capital Stock held by Goldman Sachs & Co.) and
(ii) covenants and agrees that from and after the Restatement Date neither such Lender nor its Affiliates and Related Funds shall
purchase any trade debt or Indebtedness of any Credit Party other than the Obligations or Capital Stock described in clause (i)
above without the prior written consent of the Administrative Agent.


 


9.6.
Right to Indemnity. Each Lender, in proportion to its Pro Rata Share, severally agrees to indemnify each Agent, their Affiliates
and their respective officers, partners, directors, trustees, employees and agents of each Agent (each, an “Indemnitee
Agent Party”), to the extent that such Indemnitee Agent Party shall not have been reimbursed by any Credit Party, for
and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including
counsel fees and disbursements) or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted
against such Indemnitee Agent Party in exercising its powers, rights and remedies or performing its duties hereunder or under
the other Credit Documents or otherwise in its capacity as such Indemnitee Agent Party in any way relating to or arising out of
this Agreement or the other Credit Documents, in all cases, whether or not caused by
or arising, in whole or in part, out of the comparative, contributory, or sole negligence of such INDEMNITEE Agent PARTY;
provided, no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses or disbursements resulting from such Indemnitee Agent Party’s gross negligence or willful
misconduct, as determined by a court of competent jurisdiction in a final, non-appealable order. If any indemnity furnished to
any Indemnitee Agent Party for any purpose shall, in the opinion of such Indemnitee Agent Party, be insufficient or become impaired,
such Indemnitee Agent Party may call for additional indemnity and cease, or not commence, to do the acts indemnified against until
such additional indemnity is furnished; provided, in no event shall this sentence require any Lender to indemnify any Indemnitee
Agent Party against any liability, obligation, loss, damage, penalty, action, judgment, suit, cost, expense or disbursement in
excess of such Lender’s Pro Rata Share thereof; and provided further, this sentence shall not be deemed to require
any Lender to indemnify any Indemnitee Agent Party against any liability, obligation, loss, damage, penalty, action, judgment,
suit, cost, expense or disbursement described in the proviso in the immediately preceding sentence.


 






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9.7.
Successor Administrative Agent and Collateral Agent.


 


(a)
Administrative Agent and Collateral Agent may resign at any time by giving thirty days’ prior written notice thereof to
Lenders and the Company Representative. Upon any such notice of resignation, Requisite Lenders shall have the right, upon five
Business Days’ notice to the Company Representative, to appoint a successor Administrative Agent and Collateral Agent. If,
after 30 days after the date of the retiring Agent’s notice of resignation, no successor Agent has been appointed by the
Requisite Lenders that has accepted such appointment, then the retiring Agent may, on behalf of the Lenders, appoint a successor
Agent from among the Lenders. Upon the acceptance of any appointment as Administrative Agent and Collateral Agent hereunder by
a successor Administrative Agent and Collateral Agent, that successor Administrative Agent and Collateral Agent shall thereupon
succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent and Collateral
Agent and the retiring Administrative Agent and Collateral Agent shall promptly (i) transfer to such successor Administrative
Agent and Collateral Agent all sums, Securities and other items of Collateral held under the Collateral Documents, together with
all records and other documents necessary or appropriate in connection with the performance of the duties of the successor Administrative
Agent and Collateral Agent under the Credit Documents, and (ii) execute and deliver to such successor Administrative Agent and
Collateral Agent such amendments to financing statements, and take such other actions, as may be necessary or appropriate in connection
with the assignment to such successor Administrative Agent and Collateral Agent of the security interests created under the Collateral
Documents, whereupon such retiring Administrative Agent and Collateral Agent shall be discharged from its duties and obligations
hereunder. After any retiring Administrative Agent’s and Collateral Agent’s resignation hereunder as Administrative
Agent and Collateral Agent, the provisions of this Section 9 shall inure to its benefit as to any actions taken or omitted to
be taken by it while it was Administrative Agent and Collateral Agent hereunder.


 


(b)
Notwithstanding anything herein to the contrary, Administrative Agent and Collateral Agent may assign their rights and duties
as Administrative Agent and Collateral Agent hereunder to an Affiliate of GSSLG without the prior written consent of, or prior
written notice to, the Company Representative or the Lenders; provided that the Credit Parties and the Lenders may deem and treat
such assigning Administrative Agent and Collateral Agent as the Administrative Agent and Collateral Agent for all purposes hereof,
unless and until such assigning Administrative Agent or Collateral Agent, as the case may be, provides written notice to the Company
Representative and the Lenders of such assignment. Upon such assignment such Affiliate shall succeed to and become vested with
all rights, powers, privileges and duties as Administrative Agent and Collateral Agent hereunder and under the other Credit Documents.


 


9.8.
Collateral Documents and Guaranty.


 


(a)
Agents under Collateral Documents and Guaranty. Each Lender hereby further authorizes Administrative Agent or Collateral
Agent, as applicable, on behalf of and for the benefit of Lenders, to be the agent for and representative of Lenders with respect
to the Guaranty, the Collateral and the Collateral Documents. Subject to Section 10.5, without further written consent or authorization
from Lenders, Administrative Agent or Collateral Agent, as applicable may execute any documents or instruments necessary to (i) release
any Lien encumbering any item of Collateral that is the subject of a sale or other disposition of assets permitted hereby or to
which Requisite Lenders (or such other Lenders as may be required to give such consent under Section 10.5) have otherwise consented,
or (ii) release any Credit Party from the Guaranty pursuant to Section 7.12 or with respect to which Requisite Lenders (or
such other Lenders as may be required to give such consent under Section 10.5) have otherwise consented.


 






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(b)
Right to Realize on Collateral and Enforce Guaranty. Anything contained in any of the Credit Documents to the contrary
notwithstanding, each Credit Party, Administrative Agent, Collateral Agent and each Lender hereby agree that (i) no Lender shall
have any right individually to realize upon any of the Collateral or to enforce the Guaranty, it being understood and agreed that
all powers, rights and remedies hereunder may be exercised solely by Administrative Agent, on behalf of Lenders in accordance
with the terms hereof and all powers, rights and remedies under the Collateral Documents may be exercised solely by Collateral
Agent, and (ii) in the event of a foreclosure by Collateral Agent on any of the Collateral pursuant to a public or private sale,
Collateral Agent or any Lender may be the purchaser of any or all of such Collateral at any such sale and Collateral Agent, as
agent for and representative of Secured Parties (but not any Lender or Lenders in its or their respective individual capacities
unless Requisite Lenders shall otherwise agree in writing) shall be entitled, for the purpose of bidding and making settlement
or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of
the Obligations as a credit on account of the purchase price for any collateral payable by Collateral Agent at such sale.


 


SECTION
10. MISCELLANEOUS


 


10.1.
Notices. Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to
be given to a Credit Party, Collateral Agent or Administrative Agent shall be sent to such Person’s address as set forth
on Appendix B or in the other relevant Credit Document, and in the case of any Lender, the address as indicated on Appendix B
or otherwise indicated to Administrative Agent in writing. Each notice hereunder shall be in writing and may be personally served,
telexed or sent by telefacsimile or United States mail or courier service and shall be deemed to have been given when delivered
in person or by courier service and signed for against receipt thereof, upon receipt of telefacsimile or telex, or three Business
Days after depositing it in the United States mail with postage prepaid and properly addressed; provided, no notice to
any Agent shall be effective until received by such Agent.


 


10.2.
Expenses. Whether or not the transactions contemplated hereby shall be consummated, the Companies agree to pay promptly (a)
all the Administrative Agent’s actual and reasonable costs and expenses of preparation of the Credit Documents and any consents,
amendments, waivers or other modifications thereto; (b) all the Agents’ costs of furnishing all opinions by counsel for
the Credit Parties; (c) all the reasonable fees, expenses and disbursements of counsel to Agents in connection with the negotiation,
preparation, execution and administration of the Credit Documents and any consents, amendments, waivers or other modifications
thereto and any other documents or matters requested by any Company; (d) all the actual costs and reasonable expenses of creating
and perfecting Liens in favor of Collateral Agent, for the benefit of Secured Parties, including filing and recording fees, expenses
and taxes, stamp or documentary taxes, search fees, title insurance premiums and reasonable fees, expenses and disbursements of
counsel to each Agent and of counsel providing any opinions that any Agent or Requisite Lenders may request in respect of the
Collateral or the Liens created pursuant to the Collateral Documents; (e) all the Administrative Agent’s actual costs and
reasonable fees, expenses for, and disbursements of any of Administrative Agent’s, auditors, accountants, consultants or
appraisers whether internal or external, and all reasonable attorneys’ fees (including allocated costs of internal counsel
and expenses and disbursements of outside counsel) incurred by Administrative Agent; (f) all the actual costs and reasonable expenses
(including the reasonable fees, expenses and disbursements of any appraisers, consultants, advisors and agents employed or retained
by Collateral Agent and its counsel) in connection with the custody or preservation of any of the Collateral; (g) all other actual
and reasonable costs and expenses incurred by each Agent in connection with the syndication of the Loans and Commitments and the
negotiation, preparation and execution of the Credit Documents and any consents, amendments, waivers or other modifications thereto
and the transactions contemplated thereby; and (h) after the occurrence of a Default or an Event of Default, all costs and expenses,
including reasonable attorneys’ fees (including allocated costs of internal counsel) and costs of settlement, incurred by
any Agent and Lenders in enforcing any Obligations of or in collecting any payments due from any Credit Party hereunder or under
the other Credit Documents by reason of such Default or Event of Default (including in connection with the sale of, collection
from, or other realization upon any of the Collateral or the enforcement of the Guaranty) or in connection with any refinancing
or restructuring of the credit arrangements provided hereunder in the nature of a “work out” or pursuant to any insolvency
or bankruptcy cases or proceedings.


 






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10.3.
Indemnity.


 


(a)
In addition to the payment of expenses pursuant to Section 10.2, whether or not the transactions contemplated hereby shall be
consummated, each Credit Party agrees to defend (subject to Indemnitees’ selection of counsel), indemnify, pay and hold
harmless, each Agent and Lender, their Affiliates and their respective officers, partners, directors, trustees, employees and
agents of each Agent and each Lender (each, an “Indemnitee”), from and against any and all Indemnified Liabilities,
in all cases, whether or not caused by or arising, in whole or in part, out of the
comparative, contributory, or sole negligence of such INDEMNITEE; provided, no Credit Party shall have any obligation
to any Indemnitee hereunder with respect to any Indemnified Liabilities to the extent such Indemnified Liabilities arise from
the gross negligence or willful misconduct, as determined by a court of competent jurisdiction in a final, non-appealable order,
of that Indemnitee. To the extent that the undertakings to defend, indemnify, pay and hold harmless set forth in this Section
10.3 may be unenforceable in whole or in part because they are violative of any law or public policy, the applicable Credit Party
shall contribute the maximum portion that it is permitted to pay and satisfy under applicable law to the payment and satisfaction
of all Indemnified Liabilities incurred by Indemnitees or any of them. 


 


(b)
To the extent permitted by applicable law, no Credit Party shall assert, and each Credit Party hereby waives, any claim against
Lenders, Agents and their respective Affiliates, directors, employees, attorneys or agents, on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages) (whether or not the claim therefor is based
on contract, tort or duty imposed by any applicable legal requirement) arising out of, in connection with, as a result of, or
in any way related to, this Agreement or any Credit Document or any agreement or instrument contemplated hereby or thereby or
referred to herein or therein, the transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof or
any act or omission or event occurring in connection therewith, and each Credit Party hereby waives, releases and agrees not to
sue upon any such claim or any such damages, whether or not accrued and whether or not known or suspected to exist in its favor.


 


10.4.
Set-Off. In addition to any rights now or hereafter granted under applicable law and not by way of limitation of any such
rights, upon the occurrence of any Event of Default each Lender and its Affiliates each of is hereby authorized by each Credit
Party at any time or from time to time subject to the consent of Administrative Agent (such consent not to be unreasonably withheld
or delayed), without notice to any Credit Party or to any other Person (other than Administrative Agent), any such notice being
hereby expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, including Indebtedness
evidenced by certificates of deposit, whether matured or unmatured, but not including trust accounts (in whatever currency)) and
any other Indebtedness at any time held or owing by such Lender to or for the credit or the account of any Credit Party (in whatever
currency) against and on account of the obligations and liabilities of any Credit Party to such Lender hereunder, and under the
other Credit Documents, including all claims of any nature or description arising out of or connected hereto or with any other
Credit Document, irrespective of whether or not (a) such Lender shall have made any demand hereunder, (b) the principal of or
the interest on the Loans or any other amounts due hereunder shall have become due and payable pursuant to Section 2 and
although such obligations and liabilities, or any of them, may be contingent or unmatured or (c) such obligation or liability
is owed to a branch or office of such Lender different from the branch or office holding such deposit or obligation or such Indebtedness.


 


10.5.
Amendments and Waivers.


 


(a)
Requisite Lenders’ Consent. Subject to Sections 10.5(b) and 10.5(c), no amendment, modification, termination or waiver
of any provision of the Credit Documents (other than the Fee Letter), or consent to any departure by any Credit Party therefrom,
shall in any event be effective without the written concurrence of Administrative Agent and the Requisite Lenders.


 


(b)
Affected Lenders’ Consent. Without the written consent of each Lender (other than a Defaulting Lender) that would
be affected thereby, no amendment, modification, termination of, or any consent to departure from, any of the Credit Documents
(other than the Fee Letter) shall be effective if the effect thereof would:


 


(i)
extend the scheduled final maturity of any Loan or Note;


 






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(ii)
waive, reduce or postpone any scheduled repayment (but not prepayment);


 


(iii)
reduce the rate of interest on any Loan (other than any waiver of any increase in the interest rate applicable to any Loan pursuant
to Section 2.9) or any fee payable hereunder;


 


(iv)
extend the time for payment of any such interest or fees;


 


(v)
reduce the principal amount of any Loan;


 


(vi)
amend, modify, terminate or waive any provision of this Section 10.5(b) or Section 10.5(c);


 


(vii)
amend the definition of “Requisite Lenders” or “Pro Rata Share”; provided, with the
consent of Administrative Agent and the Requisite Lenders, additional extensions of credit pursuant hereto may be included in
the determination of “Requisite Lenders” or “Pro Rata Share” on substantially the same basis
as the Term Loan Commitments and the Term Loans are included on the Restatement Date;


 


(viii)
release all or substantially all of the Collateral or all or substantially all of the Credit Parties from the Guaranty except
as expressly provided in the Credit Documents; or


 


(ix)
consent to the assignment or transfer by any Credit Party of any of its rights and obligations under any Credit Document.


 


(c)
Other Consents. No amendment, modification, termination or waiver of any provision of the Credit Documents (other than
the Fee Letter), or consent to any departure by any Credit Party therefrom, shall:


 


(i)
[reserved];


 


(ii)
amend the definition of “Requisite Class Lenders without the consent of Requisite Class Lenders of each Class; provided,
with the consent of Administrative Agent and the Requisite Lenders, additional extensions of credit pursuant hereto may be included
in the determination of such “Requisite Class Lenders” on substantially the same basis as the Term Loan Commitments
and the Term Loans are included on the Restatement Date;


 


(iii)
amend, modify, terminate or waive any provision of Section 3.2(a) with regard to any Credit Extension without the consent of Requisite
Class Lenders of the affected Class;


 


(iv)
alter the required application of any repayments or prepayments as between Classes pursuant to Section 2.14 without the consent
of Requisite Class Lenders of each Class which is being allocated a lesser repayment or prepayment as a result thereof; provided,
Administrative Agent and the Requisite Lenders may waive, in whole or in part, any prepayment so long as the application, as between
Classes, of any portion of such prepayment which is still required to be made is not altered; or


 






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(v)
amend, modify, terminate or waive any provision of Section 9 as the same applies to any Agent, or any other provision hereof as
the same applies to the rights or obligations of any Agent, in each case without the consent of such Agent.


 


(d)
Execution of Amendments, etc. Administrative Agent may, but shall have no obligation to, with the concurrence of any Lender,
execute amendments, modifications, waivers or consents on behalf of such Lender. Any waiver or consent shall be effective only
in the specific instance and for the specific purpose for which it was given. No notice to or demand on any Credit Party in any
case shall entitle any Credit Party to any other or further notice or demand in similar or other circumstances. Any amendment,
modification, termination, waiver or consent effected in accordance with this Section 10.5 shall be binding upon each Lender at
the time outstanding, each future Lender and, if signed by a Credit Party, on such Credit Party.


 


10.6.
Successors and Assigns; Participations.


 


(a)
Generally. This Agreement shall be binding upon the parties hereto and their respective successors and assigns and shall
inure to the benefit of the parties hereto and the successors and assigns of the Lenders. No Credit Party’s rights or obligations
hereunder nor any interest therein may be assigned or delegated by any Credit Party without the prior written consent of all Lenders.
Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto,
Indemnitee Agent Parties under Section 9.6, Indemnitees under Section 10.3, their respective successors and assigns permitted
hereby and, to the extent expressly contemplated hereby, Affiliates of each of the Agents and Lenders) any legal or equitable
right, remedy or claim under or by reason of this Agreement.


 


(b)
Register. The Companies, Administrative Agent and Lenders shall deem and treat the Persons listed as Lenders in the Register
as the holders and owners of the corresponding Commitments and Loans listed therein for all purposes hereof, and no assignment
or transfer of any such Commitment or Loan shall be effective, in each case, unless and until an Assignment Agreement effecting
the assignment or transfer thereof shall have been delivered to and accepted by Administrative Agent and recorded in the Register
as provided in Section 10.6(e). Prior to such recordation, all amounts owed with respect to the applicable Commitment or Loan
shall be owed to the Lender listed in the Register as the owner thereof, and any request, authority or consent of any Person who,
at the time of making such request or giving such authority or consent, is listed in the Register as a Lender shall be conclusive
and binding on any subsequent holder, assignee or transferee of the corresponding Commitments or Loans.


 






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(c)
Right to Assign. Each Lender shall have the right at any time to sell, assign or transfer all or a portion of its rights
and obligations under this Agreement, including, without limitation, all or a portion of its Commitment or Loans owing to it or
other Obligations (provided, however, that each such assignment shall be of a uniform, and not varying, percentage
of all rights and obligations under and in respect of any Loan and any related Commitments):


 


(i)
to any Person meeting the criteria of clause (i)(a) or clause (ii)(a) of the definition of the term of “Eligible Assignee”
upon the giving of notice to Administrative Agent; and


 


(ii)
to any Person otherwise constituting an Eligible Assignee with the consent of Administrative Agent; provided, each such
assignment pursuant to this Section 10.6(c)(ii) shall be in an aggregate amount of not less than $1,000,000 (or such lesser amount
as may be agreed to by the Company Representative and Administrative Agent or as shall constitute the aggregate amount of the
Term Loan of the assigning Lender) with respect to the assignment of Term Loans.


 


(d)
Mechanics. The assigning Lender and the assignee thereof shall execute and deliver to Administrative Agent an Assignment
Agreement, together with such forms, certificates or other evidence, if any, with respect to United States federal income tax
withholding matters as the assignee under such Assignment Agreement may be required to deliver to Administrative Agent pursuant
to Section 2.19(c).


 


(e)
Notice of Assignment. Upon its receipt and acceptance of a duly executed and completed Assignment Agreement, any forms,
certificates or other evidence required by this Agreement in connection therewith, Administrative Agent shall record the information
contained in such Assignment Agreement in the Register, shall give prompt notice thereof to the Company Representative and shall
maintain a copy of such Assignment Agreement.


 


(f)
Representations and Warranties of Assignee. Each Lender, upon execution and delivery hereof or upon executing and delivering
an Assignment Agreement, as the case may be, represents and warrants as of the Restatement Date or as of the applicable Effective
Date (as defined in the applicable Assignment Agreement) that (i) it is an Eligible Assignee; (ii) it has experience and expertise
in the making of or investing in commitments or loans such as the applicable Commitments or Loans, as the case may be; (iii) it
will make or invest in, as the case may be, its Commitments or Loans for its own account in the ordinary course of its business
and without a view to distribution of such Commitments or Loans within the meaning of the Securities Act or the Exchange Act or
other federal securities laws (it being understood that, subject to the provisions of this Section 10.6, the disposition of such
Loans or any interests therein shall at all times remain within its exclusive control); and (iv) such Lender does not own or control,
or own or control any Person owning or controlling, any trade debt or Indebtedness of any Credit Party other than the Obligations
or any Capital Stock of any Credit Party.


 


(g)
Effect of Assignment. Subject to the terms and conditions of this Section 10.6, as of the “Effective Date”
specified in the applicable Assignment Agreement: (i) the assignee thereunder shall have the rights and obligations of a “Lender”
hereunder to the extent such rights and obligations hereunder have been assigned to it pursuant to such Assignment Agreement and
shall thereafter be a party hereto and a “Lender” for all purposes hereof; (ii) the assigning Lender thereunder shall,
to the extent that rights and obligations hereunder have been assigned thereby pursuant to such Assignment Agreement, relinquish
its rights (other than any rights which survive the termination hereof under Section 10.8) and be released from its obligations
hereunder (and, in the case of an Assignment Agreement covering all or the remaining portion of an assigning Lender’s rights
and obligations hereunder, such Lender shall cease to be a party hereto; provided, anything contained in any of the Credit
Documents to the contrary notwithstanding such assigning Lender shall continue to be entitled to the benefit of all indemnities
hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender
hereunder); (iii) the Commitments shall be modified to reflect the Commitment of such assignee and any Commitment of such assigning
Lender, if any; and (iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon
the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to Administrative
Agent for cancellation, and thereupon Companies shall issue and deliver new Notes, if so requested by the assignee and/or assigning
Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding
Loans of the assignee and/or the assigning Lender.


 






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(h)
Participations. Each Lender shall have the right at any time to sell one or more participations to any Person (other than
Holdings, any of its Subsidiaries or any of its Affiliates) in all or any part of its Commitments, Loans or in any other Obligation.
The holder of any such participation, other than an Affiliate of the Lender granting such participation, shall not be entitled
to require such Lender to take or omit to take any action hereunder except with respect to any amendment, modification or waiver
that would (i) extend the final scheduled maturity of any Loan or Note in which such participant is participating, or reduce the
rate or extend the time of payment of interest or fees thereon (except in connection with a waiver of applicability of any post-default
increase in interest rates) or reduce the principal amount thereof, or increase the amount of the participant’s participation
over the amount thereof then in effect (it being understood that a waiver of any Default or Event of Default or of a mandatory
reduction in the Commitment shall not constitute a change in the terms of such participation, and that an increase in any Commitment
or Loan shall be permitted without the consent of any participant if the participant’s participation is not increased as
a result thereof), (ii) consent to the assignment or transfer by any Credit Party of any of its rights and obligations under this
Agreement, or (iii) release all or substantially all of the Collateral under the Collateral Documents or all or substantially
all of the Credit Parties from the Guaranty (in each case, except as expressly provided in the Credit Documents) supporting the
Loans hereunder in which such participant is participating. The Companies agrees that each participant shall be entitled to the
benefits of Sections 2.17(c), 2.18 and 2.19 to the same extent as if it were a Lender and had acquired its interest by assignment
pursuant to clause (c) of this Section; provided, (i) a participant shall not be entitled to receive any greater payment
under Section 2.18 or 2.19 than the applicable Lender would have been entitled to receive with respect to the participation sold
to such participant, unless the sale of the participation to such participant is made with the Company Representative’s
prior written consent, and (ii) a participant that would be a Non-US Lender if it were a Lender shall not be entitled to the benefits
of Section 2.19 unless the Company Representative is notified of the participation sold to such participant and such participant
agrees, for the benefit of the Companies, to comply with Section 2.19 as though it were a Lender. To the extent permitted by law,
each participant also shall be entitled to the benefits of Section 10.4 as though it were a Lender, provided such Participant
agrees to be subject to Section 2.16 as though it were a Lender.


 


(i)
Certain Other Assignments. In addition to any other assignment permitted pursuant to this Section 10.6, any Lender may
assign, pledge and/or grant a security interest in, all or any portion of its Loans, the other Obligations owed by or to such
Lender, and its Notes, if any, to secure obligations of such Lender including, without limitation, any Federal Reserve Bank as
collateral security pursuant to Regulation A of the Board of Governors of the Federal Reserve System and any operating circular
issued by such Federal Reserve Bank; provided, no Lender, as between Companies and such Lender, shall be relieved of any
of its obligations hereunder as a result of any such assignment and pledge, and provided further, in no event shall the
applicable Federal Reserve Bank, pledgee or trustee be considered to be a “Lender” or be entitled to require the assigning
Lender to take or omit to take any action hereunder.


 






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10.7.
Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action or condition
is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or would otherwise be within
the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken
or condition exists.


 


10.8.
Survival of Representations, Warranties and Agreements. All representations, warranties and agreements made herein shall survive
the execution and delivery hereof and the making of any Credit Extension. Notwithstanding anything herein or implied by law to
the contrary, the agreements of each Credit Party set forth in Sections 2.17(c), 2.18, 2.19, 10.2, 10.3, 10.4, and 10.10 and the
agreements of Lenders set forth in Sections 2.16, 9.3(b) and 9.6 shall survive the payment of the Loans, and the termination
hereof.


 


10.9.
No Waiver; Remedies Cumulative. No failure or delay on the part of any Agent or any Lender in the exercise of any power, right
or privilege hereunder or under any other Credit Document shall impair such power, right or privilege or be construed to be a
waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege
preclude other or further exercise thereof or of any other power, right or privilege. The rights, powers and remedies given to
each Agent and each Lender hereby are cumulative and shall be in addition to and independent of all rights, powers and remedies
existing by virtue of any statute or rule of law or in any of the other Credit Documents or any of the Interest Rate Agreements.
Any forbearance or failure to exercise, and any delay in exercising, any right, power or remedy hereunder shall not impair any
such right, power or remedy or be construed to be a waiver thereof, nor shall it preclude the further exercise of any such right,
power or remedy.


 


10.10.
Marshalling; Payments Set Aside. Neither any Agent nor any Lender shall be under any obligation to marshal any assets in favor
of any Credit Party or any other Person or against or in payment of any or all of the Obligations. To the extent that any Credit
Party makes a payment or payments to Administrative Agent or Lenders (or to Administrative Agent, on behalf of Lenders), or Administrative
Agent, Collateral Agent or Lenders enforce any security interests or exercise their rights of setoff, and such payment or payments
or the proceeds of such enforcement or setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential,
set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, any other state or
federal law, common law or any equitable cause, then, to the extent of such recovery, the obligation or part thereof originally
intended to be satisfied, and all Liens, rights and remedies therefor or related thereto, shall be revived and continued in full
force and effect as if such payment or payments had not been made or such enforcement or setoff had not occurred.


 






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10.11.
Severability. In case any provision in or obligation hereunder or any Note or other Credit Document shall be invalid, illegal
or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or
of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.


 


10.12.
Obligations Several; Actions in Concert. The obligations of Lenders hereunder are several and no Lender shall be
responsible for the obligations or Commitment of any other Lender hereunder. Nothing contained herein or in any other Credit
Document, and no action taken by Lenders pursuant hereto or thereto, shall be deemed to constitute Lenders as a partnership,
an association, a joint venture or any other kind of entity. Anything in this Agreement or any other Credit Document to the
contrary notwithstanding, each Lender hereby agrees with each other Lender that no Lender shall take any action to protect or
enforce its rights arising out of this Agreement or any Note or otherwise with respect to the Obligations without first
obtaining the prior written consent of the Administrative Agent or Requisite Lenders (as applicable), it being the intent of
Lenders that any such action to protect or enforce rights under this Agreement and any Note or otherwise with respect to the
Obligations shall be taken in concert and at the direction or with the consent of Administrative Agent or Requisite Lenders
(as applicable).


 


10.13.
Headings. Section headings herein are included herein for convenience of reference only and shall not constitute a part
hereof for any other purpose or be given any substantive effect.


 


10.14.
APPLICABLE LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER (INCLUDING ANY CLAIMS SOUNDING IN CONTRACT
LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF AND ANY DETERMINATIONS WITH RESPECT TO POST-JUDGMENT INTEREST) SHALL
BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT
OF LAWS PRINCIPLES (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW) THEREOF.


 


10.15.
CONSENT TO JURISDICTION. SUBJECT TO CLAUSE (V) OF THE FOLLOWING SENTENCE, ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY PARTY ARISING
OUT OF OR RELATING HERETO OR ANY OTHER CREDIT DOCUMENT, OR ANY OF THE OBLIGATIONS, SHALL BE BROUGHT IN ANY FEDERAL COURT OF THE
U.S. SITTING IN THE BOROUGH OF MANHATTAN OR, IF THAT COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, IN ANY STATE COURT LOCATED
IN THE CITY AND COUNTY OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH CREDIT PARTY, FOR ITSELF AND IN CONNECTION
WITH ITS PROPERTIES, IRREVOCABLY (I) ACCEPTS GENERALLY AND UNCONDITIONALLY THE EXCLUSIVE (SUBJECT TO CLAUSE (V) BELOW) JURISDICTION
AND VENUE OF SUCH COURTS; (II) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; (III) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH
PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE CREDIT PARTY
AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 10.1; (IV) AGREES THAT SERVICE AS PROVIDED IN CLAUSE (III) ABOVE IS SUFFICIENT
TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE CREDIT PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES
EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (V) AGREES THAT AGENTS, ISSUING BANK, AND LENDERS RETAIN THE RIGHT TO SERVE
PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST ANY CREDIT PARTY IN THE COURTS OF ANY OTHER JURISDICTION
IN CONNECTION WITH THE EXERCISE OF ANY RIGHTS UNDER ANY CREDIT DOCUMENT OR AGAINST ANY COLLATERAL OR THE ENFORCEMENT OF ANY JUDGMENT,
AND HEREBY SUBMITS TO THE JURISDICTION OF, AND CONSENTS TO VENUE IN, ANY SUCH COURT.


 






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10.16.
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER CREDIT DOCUMENTS OR ANY DEALINGS BETWEEN THEM RELATING
TO THE SUBJECT MATTER OF THIS LOAN TRANSACTION OR THE LENDER/BORROWER RELATIONSHIP THAT IS BEING ESTABLISHED. THE SCOPE OF THIS
WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT
MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY
CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH
HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED
FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND
THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE,
MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING
TO THIS SECTION 10.16 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS,
SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER CREDIT DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE
LOANS MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.


  


10.17.
Confidentiality. Each Lender shall hold all non-public information regarding Companies and their respective Subsidiaries and
their businesses identified as such by the Company Representative and obtained by such Lender pursuant to the requirements hereof
in accordance with such Lender’s customary procedures for handling confidential information of such nature, it being understood
and agreed by Companies that, in any event, a Lender may make (i) disclosures of such information to Affiliates of such Lender
and to their agents and advisors (and to other Persons authorized by a Lender or Agent to organize, present or disseminate such
information in connection with disclosures otherwise made in accordance with this Section 10.17), (ii) disclosures of such information
reasonably required by any bona fide or potential assignee, transferee or participant in connection with the contemplated assignment,
transfer or participation by such Lender of any Loans or any participations therein or by any direct or indirect contractual counterparties
(or the professional advisors thereto) in Interest Rate Agreements (provided, such counterparties and advisors are advised of
and agree to be bound by the provisions of this Section 10.17), (iii) disclosure to any rating agency when required by it, provided
that, prior to any disclosure, such rating agency shall undertake in writing to preserve the confidentiality of any confidential
information relating to the Credit Parties received by it from any of the Agents or any Lender, (iv) disclosure to any Lender’s
financing sources, provided that prior to any disclosure, such financing source is informed of the confidential nature
of the information, and (v) disclosures required or requested by any Governmental Authority or representative thereof or by the
NAIC or pursuant to legal or judicial process or other legal proceeding; provided, unless specifically prohibited by applicable
law or court order, each Lender shall make reasonable efforts to notify Company Representative of any request by any Governmental
Authority or representative thereof (other than any such request in connection with any examination of the financial condition
or other routine examination of such Lender by such Governmental Authority) for disclosure of any such non-public information
prior to disclosure of such information. Notwithstanding the foregoing, on or after the Restatement Date, Administrative Agent
may, at its own expense issue news releases and publish “tombstone” advertisements and other announcements relating
to this transaction in newspapers, trade journals and other appropriate media (which may include use of logos of one or more of
the Credit Parties)(collectively, “Trade Announcements”). No Credit Party shall issue any Trade Announcement
except (i) disclosures required by applicable law, regulation, legal process or the rules of the Securities and Exchange Commission
or (ii) with the prior approval of Administrative Agent.


 


10.18.
Usury Savings Clause. Notwithstanding any other provision herein, the aggregate interest rate charged or agreed to be paid
with respect to any of the Obligations, including all charges or fees in connection therewith deemed in the nature of interest
under applicable law shall not exceed the Highest Lawful Rate. If the rate of interest (determined without regard to the preceding
sentence) under this Agreement at any time exceeds the Highest Lawful Rate, the outstanding amount of the Loans made hereunder
shall bear interest at the Highest Lawful Rate until the total amount of interest due hereunder equals the amount of interest
which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect.
In addition, if when the Loans made hereunder are repaid in full the total interest due hereunder (taking into account the increase
provided for above) is less than the total amount of interest which would have been due hereunder if the stated rates of interest
set forth in this Agreement had at all times been in effect, then to the extent permitted by law, the Companies shall pay to Administrative
Agent an amount equal to the difference between the amount of interest paid and the amount of interest which would have been paid
if the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of Lenders and
the Companies to conform strictly to any applicable usury laws. Accordingly, if any Lender contracts for, charges, or receives
any consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically
and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of the Loans made hereunder
or be refunded to the Companies. In determining whether the interest contracted for, charged, or received by Administrative Agent
or a Lender exceeds the Highest Lawful Rate, such Person may, to the extent permitted by applicable law, (a) characterize any
payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects
thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest, throughout the
contemplated term of the Obligations hereunder.


 






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10.19.
Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall
be deemed an original, but all such counterparts together shall constitute but one and the same instrument. Signatures by facsimile
or other electronic transmission (including by emailed “.pdf” file) to this Agreement and any other Credit Document
shall bind the parties hereto and thereto to the same extent as would a manually executed counterpart.


 


10.20.
Effectiveness. This Agreement shall become effective upon the execution of a counterpart hereof by each of the parties hereto
and receipt by Companies and Administrative Agent of written or telephonic notification of such execution and authorization of
delivery thereof.


 


10.21.
Patriot Act. Each Lender and Administrative Agent (for itself and not on behalf of any Lender) hereby notifies each Credit
Party that pursuant to the requirements of the Act, it is required to obtain, verify and record information that identifies such
Credit Party, which information includes the name and address of such Credit Party and other information that will allow such
Lender or Administrative Agent, as applicable, to identify such Credit Party in accordance with the Act.


 


10.22.
Amendment and Restatement.


 


(a)
Effective upon satisfaction of the conditions set forth in Section 3.1, this Agreement amends, restates, supersedes and
replaces the Prior Credit Agreement in its entirety. This Agreement constitutes an amendment and restatement of the Prior
Credit Agreement and is not, and is not intended by the parties to be, a novation of the Prior Credit Agreement. All rights
and obligations of the parties shall continue in effect, except as otherwise expressly set forth herein. Without limiting the
foregoing, except as expressly set forth herein, no Default or Event of Default existing under the Prior Credit Agreement as
of the Restatement Date shall be deemed waived or cured by this amendment and restatement thereof, except to the extent that
such Default or Event of Default would not otherwise be a Default or Event of Default hereunder after giving effect to the
provisions hereof. After giving effect to this amendment and restatement, as of the Restatement Date, the Term Loan
Commitments of the Lenders under this Agreement are set forth on Appendix A. All references in the other Credit Documents to
the Prior Credit Agreement shall be deemed to refer to and mean this Agreement, as the same may be further amended,
supplemented, and restated from time to time. In addition to the foregoing, each Collateral Document, as amended or amended
and restated as contemplated herein, shall remain in full force and effect and shall continue to secure the
Obligations.


 






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(b)
Each Credit Party ratifies and confirms the terms of the Credit Documents executed prior to the date hereof, and its
obligations hereunder and thereunder, after giving effect to the amendment and restatement of this Agreement and the
modifications contemplated hereby. Each Guarantor acknowledges that, notwithstanding anything to the contrary contained
herein or in any other document evidencing any indebtedness of Companies to the Lenders or any other obligation of the
Companies, or any actions now or hereafter taken by the Lenders with respect to any obligation of the Companies, the
obligations of the Guarantors under Article 7 of this Agreement (i) are and shall continue to be a primary obligation of the
Guarantors, (ii) are and shall continue to be an absolute, unconditional, joint and several, continuing and irrevocable
guaranty of payment, and (iii) are and shall continue to be in full force and effect in accordance with their terms. Nothing
contained herein to the contrary shall release, discharge, modify, change or affect the original liability of the Guarantors
under Article 7 of this Agreement. Each Credit Party hereby reaffirms the security interests and liens granted under the
Credit Documents and acknowledges that, as of the date hereof and after giving effect to the transactions contemplated by
this Agreement, the security interests and liens granted to the Agents and the other Secured Parties under the Credit
Documents are in full force and effect, are properly perfected and are enforceable in accordance with the terms of
this Agreement and the other Credit Documents.


 


(c)
As of the date hereof, the Events of Default set forth on Schedule 10.22 (the “Specified Events of
Default”) have occurred and are continuing. The Lenders hereby waive the Specified Events of Default. Nothing
herein, nor any communications among Administrative Agent, any Lender or any Credit Party shall be deemed a waiver with
respect to any Events of Default (other than the Specified Events of Default), or any future failure of any Credit Party to
comply fully with any provision of this Agreement or any provision of any other Credit Document (including, but not limited
to, any possible future Event of Default of which the Administrative Agent or any Lender may have been advised).


 


(d)
On the date hereof, each of MOBILE SCIENCE TECHNOLOGIES, INC., a Georgia corporation, ATTIS HEALTHCARE, LLC, a South Carolina
limited liability company, INTEGRITY LAB SOLUTIONS, LLC, an Oklahoma limited liability company, RED X MEDICAL LLC, a Georgia
limited liability company, WELNESS BENEFITS, LLC, an Oklahoma limited liability company, LGMG, LLC, an Oklahoma limited
liability company, ATTIS INNOVATIONS, LLC, a Georgia limited liability company, and ADVANCED LIGNIN BIOCOMPOSITES LLC, a
Minnesota limited liability company, ATTIS ENVICARE MEDICAL WASTE, LLC, a Georgia limited liability company, ATTIS GENETICS,
LLC, a Georgia limited liability company, ATTIS FEDERAL LABS, LLC, an Oklahoma limited liability company, ATTIS COMMERCIAL
LABS, LLC, an Oklahoma limited liability company, hereby confirms that (i) by the execution and delivery hereof, the
undersigned becomes a Credit Party under this Agreement and agrees to be bound by all of the terms thereof; (ii) represents
and warrants that each of the representations and warranties set forth in this Agreement and each other Credit Document and
applicable to the undersigned is true and correct after giving effect to this Agreement, except to the extent that any such
representation and warranty relates solely to any earlier date, in which case such representation and warranty is true and
correct as of such earlier date; (iii) after giving effect to the amendment and restatement of the Prior Credit Agreement
pursuant to this Agreement, no event has occurred or is continuing as of the date hereof, or will result from the
transactions contemplated hereby on the date hereof, that would constitute an Event of Default or a Default; (iv) agrees to
irrevocably and unconditionally guaranty the due and punctual payment in full of all Obligations when the same shall become
due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts
that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C.
§ 362(a)) and in accordance with Section 7 of the Credit Agreement; and (v) further agrees that it will comply with all
the terms and conditions of the Pledge and Security Agreement as if it were an original signatory thereto, grants
to Collateral Agent a security interest in all of such Person’s right, title and interest in and to all
“Collateral” (as such term is defined in the Pledge and Security Agreement), in each case whether now or
hereafter existing or in which such Person now has or hereafter acquires an interest and wherever the same may be located.
All such Collateral shall be deemed to be part of the “Collateral” and hereafter subject to each of the terms and
conditions of the Pledge and Security Agreement.


 


(e)
Notwithstanding the terms of this Agreement or the Collateral Documents to the contrary, it is understood and agreed that the
Lien created under the Collateral Documents shall not attach to the assets of LGMG that are subject to a Lien in favor of
FirstStar Bank unless and until the earliest of (x) FirstStar Bank’s consent to such Lien, (ii) the repayment of all
Indebtedness owed to FirstStar Bank and (iii) the date that the documents evidencing the Lien in favor of FirstStar Bank
permit the grant by LGMG of a Lien in its assets to secure the Obligations.


 


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


 


	 	MERIDIAN
    WASTE SOLUTIONS, INC., as Holdings
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Chief Executive Officer
	 	 	 
	 	MERIDIAN
    WASTE OPERATIONS, INC.
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Chief Executive Officer
	 	 	 
	 	MOBILE
    SCIENCE TECHNOLOGIES, INC.
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Vice President
	 	 	 
	 	ATTIS
    HEALTHCARE, LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager
	 	 	 
	 	ADVANCED
    LIGNIN BIOCOMPOSITES LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager


 


[Signature
Page to Second Amended and Restated Credit and Guaranty Agreement]


 






     


     


    

 


	 	INTEGRITY
    LAB SOLUTIONS, LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager
	 	 	 
	 	RED
    X MEDICAL LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager
	 	 	 
	 	WELNESS
    BENEFITS, LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager
	 	 	 
	 	LGMG,
    LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager
	 	 	 
	 	ATTIS
    INNOVATIONS, LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager
	 	 	 
	 	ATTIS
    COMMERCIAL LABS, LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager


 


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	 	ATTIS
    FEDERAL LABS, LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager
	 	 	 
	 	ATTIS
    ENVICARE MEDICAL WASTE, LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager
	 	 	 
	 	ATTIS
    GENETICS, LLC
	 	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:
    Jeffrey S. Cosman
	 	 	Title:
    Manager


  


 


 


 


[Signature
Page to Second Amended and Restated Credit and Guaranty Agreement]


 






     


     


    

 


	 	GOLDMAN
    SACHS SPECIALTY LENDING GROUP, L.P.,
	 	as
    Administrative Agent, Lead Arranger and Collateral Agent
	 	 	 
	 	By:	/s/
    Justin Betzen
	 	 	Name:
    Justin Betzen
	 	 	Title:
    Senior Vice President
	 	 	 
	 	GOLDMAN
    SACHS SPECIALTY LENDING HOLDINGS, INC., 
	 	as
    a Lender
	 	 	 
	 	By:	/s/
    Justin Betzen
	 	 	Name:
    Justin Betzen
	 	 	Title:
    Senior Vice President


 





 


 


 


 


[Signature
Page to Second Amended and Restated Credit and Guaranty Agreement]