# EDGAR Filing Document

**Accession Number:** 0002007855
**File Stem:** 0002007855-25-000066
**Filing Date:** 2025-11
**Character Count:** 3911667
**Document Hash:** 5ce7f8bb8a7bcbacd763022ee5d9f114
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002007855-25-000066.hdr.sgml**: 20251110

**ACCESSION NUMBER**: 0002007855-25-000066

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 122

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251110

**DATE AS OF CHANGE**: 20251110

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Venture Global, Inc.
- **CENTRAL INDEX KEY:** 0002007855
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATURAL GAS DISTRIBUTION [4924]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 933539083
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42486
- **FILM NUMBER:** 251464176

**BUSINESS ADDRESS:**
- **STREET 1:** 1001 19TH STREET NORTH, SUITE 1500
- **CITY:** ARLINGTON
- **STATE:** VA
- **ZIP:** 22209
- **BUSINESS PHONE:** (202) 759 6740

**MAIL ADDRESS:**
- **STREET 1:** 1001 19TH STREET NORTH, SUITE 1500
- **CITY:** ARLINGTON
- **STATE:** VA
- **ZIP:** 22209

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Venture Global Holdings, Inc.
- **DATE OF NAME CHANGE:** 20240111

?xml version='1.0' encoding='ASCII'? vg-20250930

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM 10-Q**

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** For the quarterly period ended September 30, 2025

**OR**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** For the transition period from to .

**Commission file number 001-42486**

![Logo.gif](vg-20250930_g1.gif)

 **VENTURE GLOBAL, INC.**

(Exact Name of Registrant as Specified in Its Charter)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Delaware** | | | | **95-3539083** |
| (State or Other Jurisdiction of Incorporation or Organization) |  |  |  | (I.R.S. Employer Identification Number) |
|  | **1001 19th Street North, Suite 1500**<br>**Arlington, Virginia 22209** | **1001 19th Street North, Suite 1500**<br>**Arlington, Virginia 22209** | **1001 19th Street North, Suite 1500**<br>**Arlington, Virginia 22209** |  |
| (Address of Principal Executive Offices) | (Address of Principal Executive Offices) | (Address of Principal Executive Offices) | (Address of Principal Executive Offices) | (Address of Principal Executive Offices) |
|  | **(202) 759-6740** | **(202) 759-6740** | **(202) 759-6740** |  |
| (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) |
| Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: |
| <u>Title of Each Class</u> | <u>Title of Each Class</u> | <u>Trading Symbol</u> | <u>Name of Each Exchange on Which Registered</u> | <u>Name of Each Exchange on Which Registered</u> |
| Class A common stock, $0.01 par value | Class A common stock, $0.01 par value | VG | New York Stock Exchange | New York Stock Exchange |
| Securities registered pursuant to Section 12(g) of the Act: **None** | Securities registered pursuant to Section 12(g) of the Act: **None** | Securities registered pursuant to Section 12(g) of the Act: **None** | Securities registered pursuant to Section 12(g) of the Act: **None** | Securities registered pursuant to Section 12(g) of the Act: **None** |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☐ Accelerated filer ☐ Smaller reporting company ☐ <br> Non-accelerated filer ☒ (Do not check if a smaller reporting company) Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of October 30, 2025, the number of shares of the registrant's Class A common stock outstanding was 479,506,138, and the number of shares of the registrant's Class B common stock outstanding was 1,968,604,458.

------

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| | <u>Page</u> |
| <u>[Glossary of Key Terms](#i8663892622c74fa088d0b8333ce09ea9_10)</u> | <u>[1](#i8663892622c74fa088d0b8333ce09ea9_10)</u> |
| <u>[Cautionary Statement Regarding Forward-Looking Statements](#i8663892622c74fa088d0b8333ce09ea9_13)</u> | <u>[4](#i8663892622c74fa088d0b8333ce09ea9_13)</u> |
| <u>[PART I](#i8663892622c74fa088d0b8333ce09ea9_16)</u> |  |
| &nbsp;&nbsp;<u>[Item 1. Financial Statements](#i8663892622c74fa088d0b8333ce09ea9_19)</u> | <u>[7](#i8663892622c74fa088d0b8333ce09ea9_19)</u> |
| &nbsp;&nbsp;<u>[Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](#i8663892622c74fa088d0b8333ce09ea9_103)</u> | <u>[37](#i8663892622c74fa088d0b8333ce09ea9_103)</u> |
| &nbsp;&nbsp;<u>[Item 3. Quantitative and Qualitative Disclosures about Market Risk](#i8663892622c74fa088d0b8333ce09ea9_151)</u> | <u>[58](#i8663892622c74fa088d0b8333ce09ea9_151)</u> |
| &nbsp;&nbsp;<u>[Item 4. Controls and Procedures](#i8663892622c74fa088d0b8333ce09ea9_154)</u> | <u>[58](#i8663892622c74fa088d0b8333ce09ea9_154)</u> |
| <u>[PART II](#i8663892622c74fa088d0b8333ce09ea9_157)</u> |  |
| <u>[Item 1. Legal Proceedings](#i8663892622c74fa088d0b8333ce09ea9_160)</u> | <u>[59](#i8663892622c74fa088d0b8333ce09ea9_160)</u> |
| <u>[Item 1A. Risk Factors](#i8663892622c74fa088d0b8333ce09ea9_163)</u> | <u>[60](#i8663892622c74fa088d0b8333ce09ea9_163)</u> |
| <u>[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#i8663892622c74fa088d0b8333ce09ea9_166)</u> | <u>[60](#i8663892622c74fa088d0b8333ce09ea9_166)</u> |
| <u>[Item 3. Defaults Upon Senior Securities](#i8663892622c74fa088d0b8333ce09ea9_169)</u> | <u>[61](#i8663892622c74fa088d0b8333ce09ea9_169)</u> |
| <u>[Item 4. Mine Safety Disclosure](#i8663892622c74fa088d0b8333ce09ea9_172)</u> | <u>[61](#i8663892622c74fa088d0b8333ce09ea9_172)</u> |
| <u>[Item 5. Other Information](#i8663892622c74fa088d0b8333ce09ea9_175)</u> | <u>[61](#i8663892622c74fa088d0b8333ce09ea9_175)</u> |
| <u>[Item 6. Exhibits](#i8663892622c74fa088d0b8333ce09ea9_178)</u> | <u>[63](#i8663892622c74fa088d0b8333ce09ea9_178)</u> |
| <u>[Signatures](#i8663892622c74fa088d0b8333ce09ea9_181)</u> | <u>[64](#i8663892622c74fa088d0b8333ce09ea9_181)</u> |

---

------

<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**GLOSSARY OF KEY TERMS**

Unless otherwise indicated or the context otherwise requires, as used in this Form 10-Q:

*◦ Blackfin* means Blackfin Pipeline, LLC, a joint venture between the Company, through its wholly-owned subsidiary Venture Global Midstream Holdings, LLC, and WhiteWater Development LLC, which is engaged in the development and construction of the Blackfin pipeline;

*◦ Blackfin Credit Facilities* means the project financing obtained by Blackfin, consisting of a senior secured term loan facility, or the Blackfin TLB Facility, a senior secured construction term loan facility, or the Blackfin TLA Facility, and a senior secured working capital facility, or the Blackfin Working Capital Facility;

*◦ Blackfin pipeline,* an approximately 3.3 Bcf/d natural gas pipeline system linking Colorado County to Jasper County in Texas under development by Blackfin;

*◦ Calcasieu Funding* means Calcasieu Pass Funding, LLC;

◦ *Calcasieu Holdings* means Calcasieu Pass Holdings, LLC;

*◦ Calcasieu Pass Credit Facilities* means project financing obtained by VGCP consisting of a construction term loan, or the Calcasieu Pass Construction Term Loan, and a working capital facility, or the Calcasieu Pass Working Capital Facility;

*◦ Class A common stock* means our Class A common stock, par value $0.01 per share, entitled to one vote per share;

◦ *Class B common stock* means our Class B common stock, par value $0.01 per share, entitled to ten votes per share;

◦ *COD* means the commercial operations date, which is the first day of commercial operations at a project or a phase of a project, as applicable, as specifically defined in the relevant post-COD SPAs, and which does not occur unless and until: (i) all of the facilities comprising the relevant project, or phase thereof, have been completed and commissioned, including any ramp up period, (ii) the project or phase thereof is capable of delivering LNG in sufficient quantities and necessary quality to perform all of its obligations under such post-COD SPAs, and (iii) the applicable project company has notified the customer under the post-COD SPAs;

◦ *CODM* means our chief operating decision maker, who is our Chief Executive Officer;

◦ *commercial operations* means the production period commencing after the occurrence of COD at a project or a phase of a project, as applicable;

◦ *commissioning* or *commissioning phase* means, with respect to our LNG projects, the phase of development where our facilities undergo certain required performance and reliability testing, which includes: (i) the sequential start-up and testing of certain key equipment (e.g., liquefaction trains) as it is installed during construction and (ii) the testing and tuning of the full integrated LNG project after all key equipment and modules have passed their individual performance tests;

◦ *commissioning cargos* means the LNG cargos produced by us during the commissioning phase of an LNG project, which commences once a project produces its first quantities of LNG and ends once a project, or phase thereof, achieves COD. Proceeds from the sale of commissioning cargos are recognized in our financial statements as a reduction to the cost basis of construction in progress until assets are placed in service from an accounting perspective, the timing of which may differ from COD. After assets are placed in service from an accounting perspective, the proceeds are recognized through revenue;

◦ *Company, we, our, us* or similar terms mean Venture Global, Inc. and its subsidiaries, collectively;

◦ *Commodity fees* means the volume weighted average portion of the fees associated with LNG sold during a relevant period indexed to Henry Hub;

*◦ CP Funding Redeemable Preferred Units* means the nine million redeemable preferred units issued by Calcasieu Funding;

*◦ CP Holdings Convertible Preferred Units* means the four million convertible preferred units issued by Calcasieu Holdings;

◦ *CP2* means Venture Global CP2 LNG, LLC;

*◦ CP2 Bridge Facilities* means the secured bridge credit facilities, consisting of a $2.8 billion bridge loan facility and a $175 million three-year interest reserve facility, entered into by CP2 to fund a portion of project costs for the CP2 Project;

*◦ CP2 Holdings EBL Facilities* means the secured equity bridge credit facilities, consisting of a $2.8 billion secured equity bridge credit facility, and a $191 million three-year secured interest reserve credit facility;

------

<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

*◦ CP2 Holdings* means CP2 LNG Holdings, LLC;

*◦ CP2 Procurement* means CP2 Procurement, LLC;

*◦ CP2 Credit Facilities* means project financing obtained by CP2, consisting of a senior secured construction term loan facility, or the CP2 Construction Term Loan, and a senior secured working capital facility, or the CP2 Working Capital Facility;

*◦ CP3* means Venture Global CP3 LNG, LLC;

◦ *CP Express* means Venture Global CP Express, LLC;

◦ *Delta* means Venture Global Delta LNG, LLC;

◦ *DOE* means the United States Department of Energy;

◦ *DS&S* means our direct sales and shipping business through VG Commodities;

*◦ FERC* means the Federal Energy Regulatory Commission;

*◦ FID* means the final investment decision with respect to the development of a project or a phase thereof, which, with respect to an LNG project, requires that the project has secured (i) all of the debt and equity financing arrangements necessary to fully construct, commission, and operate such project or phase thereof and (ii) all of the necessary permits to construct, operate, and export LNG;

*◦ Fixed liquefaction fee* means the volume weighted average of the fixed liquefaction fees associated with LNG sold during a relevant period, excluding variable commodity fees;

*◦ FOB* means free on board which, with respect to LNG SPAs, requires the seller to deliver and load LNG onto the buyer's LNG tankers at the seller's export terminal;

◦ *FTA* means a free trade agreement;

*◦ GAAP* means generally accepted accounting principles in the United States of America;

*◦ Gator Express* means Venture Global Gator Express, LLC;

◦ *Henry Hub* means the final settlement price (in $ per MMBtu) for the New York Mercantile Exchange's Henry Hub natural gas futures contract for the month in which a relevant cargo's delivery window is scheduled to begin;

◦ *IPO* means our initial public offering of Class A common stock, par value $0.01 per share, that we completed on January 27, 2025;

◦ *IPO Grants* means the Company's grant of stock options in January 2025 to purchase Class A common stock to certain of its employees in connection with the IPO;

*◦ Kagami 1* means Project Kagami 1 Limited;

◦ *Kagami 2* means Project Kagami 2 Limited;

◦ *Kagami Companies* means Kagami 1 and Kagami 2, jointly;

◦ *liquefaction train* or *train* means a liquefaction production unit that cools natural gas to a liquid state;

◦ *LNG* means liquefied natural gas, or methane, supercooled to -260°F and converted into a liquid state, which reduces it to 1/600<sup>th</sup> of its original volume, enabling large quantities of natural gas to be loaded and shipped by LNG tankers;

◦ *LNG Commissioning Sales Agreements* means short- or mid-term sales agreements under which commissioning cargos are sold at prevailing market prices when executed;

◦ *LNG volumes exported* means LNG volumes that departed our LNG facilities;

*◦ LNG volumes sold* means LNG delivered to customers and recognized in results of operations;

*◦ MMBtu* means million British thermal units;

◦ *nameplate capacity* means, unless the context otherwise requires, the conservative measure of LNG production capability, based on vendor guaranteed LNG output of each of our facilities;

◦ *natural gas* means any hydrocarbons that are gaseous at standard temperature and pressure;

◦ *natural gas supply contracts* means natural gas forward purchase contracts for the supply of feed gas to the Calcasieu Project and the Plaquemines Project;

*◦ NPNS* means normal purchases and normal sales scope exception, a rule under GAAP;

◦ *Omnibus Incentive Plan* means the Venture Global, Inc. 2025 Omnibus Incentive Plan;

*◦ Plaquemines Credit Facilities* means project financing obtained by VGPL consisting of a term loan facility, or the Plaquemines Construction Term Loan, and a working capital revolving facility, or the Plaquemines Working Capital Facility;

*◦ post-COD SPA* means an SPA for the sale and purchase of LNG after COD has occurred for a particular project or phase thereof;

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

◦ *regasification* means the process of heating LNG to convert it from a liquid to gaseous state after the LNG is offloaded from an LNG carrier;

*◦ SEC* means the Securities and Exchange Commission;

*◦ SOFR* means the U.S. Secured Overnight Financing Rate;

*◦ SPA* means LNG sales and purchase agreement;

◦ *Stock Split* means the approximately 4,520.3317-for-one forward stock split of our Class A common stock, which we effected in connection with our IPO;

*◦ TBtu* means trillion British thermal units;

◦ *TCP* means TransCameron Pipeline, LLC;

*◦ Test LNG sales* means proceeds from the sale of test LNG generated during the early commissioning of an LNG project;

*◦ Total Project Costs* means the costs to complete a project, including EPC contractor profit and contingency, owners' costs and financing costs, excluding costs for operations, maintenance, and extended commissioning and start up activities;

*◦ Venture Global* means Venture Global, Inc., but not its subsidiaries;

◦ *VG Commodities* means Venture Global Commodities, LLC;

◦ *VG Partners* means Venture Global Partners II, LLC, our controlling shareholder;

◦ *VGCP* means Venture Global Calcasieu Pass, LLC;

◦ *VGCP Senior Secured Notes* means the VGCP 2029 Notes, VGCP 2030 Notes, VGCP 2031 Notes and VGCP 2033 Notes, collectively;

*◦ VGLNG* or *Venture Global LNG* means Venture Global LNG, Inc.;

◦ *VGLNG Senior Secured Notes* means the VGLNG 2028 Notes, VGLNG 2029 Notes, VGLNG 2030 Notes, VGLNG 2031 Notes and VGLNG 2032 Notes, collectively;

*◦ VGLNG Series A Preferred Shares* means the three million shares of Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock issued by VGLNG;

◦ *VGPL* means Venture Global Plaquemines LNG, LLC;

◦ *VGPL Senior Secured Notes* means the VGPL 2033 Notes, VGPL 2034 Notes, VGPL 2035 Notes and VGPL 2036 Notes, collectively;

*◦ VIE* means variable interest entity; and

◦ *Weighted average price of LNG volumes sold* means contracted sales prices, generally consisting of a liquefaction fee and a commodity fee.

------

<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS**

This Form 10-Q contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements, other than statements of historical facts, included herein are "forward-looking statements." In some cases, forward-looking statements can be identified by terminology such as "may," "might," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursue," "target," "continue," the negative of such terms or other comparable terminology.

These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, expectations regarding the development, construction, commissioning and completion of our projects, estimates of the cost of our projects and schedule to construct and commission our projects, our anticipated growth strategies and anticipated trends impacting our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our potential inability to maintain profitability, maintain positive operating cash flow and ensure adequate liquidity in the future, including as a result of the significant uncertainty in our ability to generate proceeds and the amount of proceeds that will regularly be received from sales of uncontracted commissioning cargos and excess cargos due to volatility and variability in the LNG markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our need for significant additional capital to construct and complete future projects and related assets, and our potential inability to secure such financing on acceptable terms, or at all;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our potential inability to construct or operate all of our proposed LNG facilities or pipelines or any additional LNG facilities or pipelines beyond those currently planned, including any of the bolt-on expansion opportunities which we have identified, and to produce LNG in excess of our nameplate capacity, which could limit our growth prospects, including as a result of delays in obtaining regulatory approvals or inability to obtain requisite regulatory approvals to complete construction during our estimated development periods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• significant operational risks related to our natural gas liquefaction and export projects, including the Calcasieu Project, the Plaquemines Project, the CP2 Project, the CP3 Project, the Delta Project, any potential bolt-on expansions, any future projects we develop, our pipelines, our LNG tankers, and our regasification terminal usage rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our potential inability to accurately estimate costs for our projects, and the risk that the construction and operations of natural gas pipelines and pipeline connections for our projects suffer cost overruns and delays related to obtaining regulatory approvals, development risks, labor costs, unavailability of skilled workers, operational hazards and other risks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the uncertainty regarding the future of global trade dynamics, international trade agreements and the United States' position on international trade, including the effects of tariffs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our potential inability to enter into the necessary contracts to construct the second phase of the CP2 Project, the CP3 Project, the Delta Project, or any potential bolt-on expansion, on a timely basis or on terms that are acceptable to us;

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our potential inability to enter into post-COD SPAs with customers for, or to otherwise sell, an adequate portion of the total expected nameplate capacity at the second phase of the CP2 Project, the CP3 Project, the Delta Project, any potential bolt-on expansions, or any future projects we develop;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our dependence on our EPC and other contractors for the successful completion of our projects and delivery of our LNG tankers, including the potential inability of our contractors to perform their obligations under their contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• various economic and political factors, including opposition by environmental or other public interest groups, or the lack of local government and community support required for our projects, which could negatively affect the permitting status, timing or overall development, construction and operation of our projects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effects of FERC regulation on our interstate natural gas pipelines and their FERC gas tariffs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the risk that the natural gas liquefaction system and mid-scale design we utilize at our projects will not achieve the level of performance or other benefits that we anticipate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potential additional risks arising from the duration of and the phased commissioning start-up of our projects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the potential risk that our customers or we may terminate our SPAs if certain conditions are not met or for other reasons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potential decreases in the price of natural gas and its related impact on our ability to pay the cost of gas transportation, the payment of a premium by us for feed gas relative to the contractual price we charge our customers, or other impacts to the price of natural gas resulting from inflationary pressures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the potential negative impacts of seasonal fluctuations on our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our current and potential involvement in disputes and legal proceedings, including the arbitrations and other proceedings currently pending against us and the possibility and magnitude of negative outcomes in any such dispute or proceeding and the potential impact thereof on our results of operations, liquidity and our existing contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the risks related to the development and/or contracting for additional gas transportation capacity to support the operation and expansion capacity of our LNG projects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the risks related to the management and operation of our LNG tanker fleet and our future regasification terminal usage rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the potential effects of existing and future environmental and similar laws and governmental regulations on compliance costs, operating and/or construction costs and restrictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risks related to other factors discussed under Item 1A.—*Risk Factors* of our annual report on Form 10-K for the year ended December 31, 2024.

In addition, new risks emerge from time to time as we operate in a very competitive and rapidly changing business environment. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Given these uncertainties, you should not place undue reliance on these forward-looking statements.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

All such factors are difficult to predict, contain uncertainties that may materially affect actual results and may be beyond our control. New factors emerge from time to time, and it is not possible for management to predict all such factors or to assess the impact of each such factor on us.

Any forward-looking statement speaks only as of the date on which such statement is made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made except as required by the federal securities laws. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of our forward-looking statements. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**PART I**

**ITEM 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL STATEMENTS**

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**CONDENSED CONSOLIDATED BALANCE SHEETS** 

(in millions, except share information)

(unaudited)

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| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| **ASSETS** | | |
| Current assets |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1879 | $3608 |
| &nbsp;&nbsp;&nbsp;Restricted cash | 334 | 169 |
| &nbsp;&nbsp;&nbsp;Accounts receivable | 633 | 364 |
| &nbsp;&nbsp;&nbsp;Inventory, net | 227 | 171 |
| &nbsp;&nbsp;&nbsp;Derivative assets | 90 | 154 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 95 | 93 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 3258 | 4559 |
| Property, plant and equipment, net | 43258 | 34675 |
| Right-of-use assets | 760 | 602 |
| Noncurrent restricted cash | 1329 | 837 |
| Deferred financing costs | 510 | 384 |
| Noncurrent derivative assets | 384 | 1482 |
| Other noncurrent assets | 580 | 952 |
| **TOTAL ASSETS** | $50079 | $43491 |
| **LIABILITIES AND EQUITY** |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $947 | $1536 |
| &nbsp;&nbsp;&nbsp;Accrued and other liabilities | 2120 | 1816 |
| &nbsp;&nbsp;&nbsp;Current portion of long-term debt, net | 856 | 190 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 3923 | 3542 |
| Long-term debt, net | 31743 | 29086 |
| Noncurrent operating lease liabilities | 708 | 536 |
| Deferred tax liabilities, net | 2024 | 1637 |
| Other noncurrent liabilities | 860 | 794 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 39258 | 35595 |
| Commitments and contingencies (Note 14) |  |  |
| Redeemable stock of subsidiary | 1650 | 1529 |
| Equity |  |  |
| &nbsp;&nbsp;&nbsp;Venture Global, Inc. stockholders' equity |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A common stock, par value $0.01 per share (477 million and 2,350 million shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively) | 4 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class B common stock, par value $0.01 per share (1,969 million and 0 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively) | 20 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid in capital | 2214 | 512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 3694 | 2611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (240) | (249) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Venture Global, Inc. stockholders' equity | 5692 | 2897 |
| &nbsp;&nbsp;&nbsp;Non-controlling interests | 3479 | 3470 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total equity | 9171 | 6367 |
| **TOTAL LIABILITIES AND EQUITY** | $50079 | $43491 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

(in millions, except per share information)

(unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| **REVENUE** | $3329 | $926 | $9324 | $3448 |
| **OPERATING EXPENSE** |  |  |  |  |
| &nbsp;&nbsp;Cost of sales (exclusive of depreciation and amortization shown separately below) | 1388 | 272 | 3866 | 937 |
| &nbsp;&nbsp;Operating and maintenance expense | 245 | 143 | 714 | 378 |
| &nbsp;&nbsp;General and administrative expense | 105 | 77 | 313 | 224 |
| &nbsp;&nbsp;Development expense | 53 | 156 | 292 | 511 |
| &nbsp;&nbsp;Depreciation and amortization | 218 | 89 | 701 | 229 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expense | 2009 | 737 | 5886 | 2279 |
| **INCOME FROM OPERATIONS** | 1320 | 189 | 3438 | 1169 |
| **OTHER INCOME (EXPENSE)** |  |  |  |  |
| &nbsp;&nbsp;Interest income | 27 | 53 | 121 | 187 |
| &nbsp;&nbsp;Interest expense, net | (421) | (128) | (1007) | (467) |
| &nbsp;&nbsp;Gain (loss) on interest rate swaps | (144) | (480) | (448) | 70 |
| &nbsp;&nbsp;Loss on financing transactions | (141) | (6) | (204) | (14) |
| &nbsp;&nbsp;Loss on foreign currency transactions | (4) |  | (4) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other income (expense), net | (683) | (561) | (1542) | (224) |
| **INCOME (LOSS) BEFORE INCOME TAX EXPENSE<br> (BENEFIT)** | 637 | (372) | 1896 | 945 |
| &nbsp;&nbsp;Income tax expense (benefit) | 87 | (78) | 354 | 189 |
| **NET INCOME (LOSS)** | 550 | (294) | 1542 | 756 |
| Less: Net income attributable to redeemable stock of subsidiary | 44 | 37 | 121 | 107 |
| Less: Net income attributable to non-controlling interests | 10 | 15 | 26 | 44 |
| Less: Dividends on VGLNG Series A Preferred Shares | 67 | 1 | 202 | 1 |
| **NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS** | $429 | $(347) | $1193 | $604 |
| **BASIC EARNINGS (LOSS) PER SHARE** |  |  |  |  |
| &nbsp;&nbsp;Net income (loss) attributable to common stockholders per share—basic | $0.18 | $(0.15) | $0.49 | $0.26 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average number of shares of common stock <br>outstanding—basic<sup>(a)</sup>  | 2433 | 2350 | 2418 | 2350 |
| **DILUTED EARNINGS (LOSS) PER SHARE** |  |  |  |  |
| &nbsp;&nbsp;Net income (loss) attributable to common stockholders per share—diluted | $0.16 | $(0.15) | $0.45 | $0.23 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average number of shares of common stock <br>outstanding—diluted<sup>(a)</sup> | 2641 | 2350 | 2639 | 2577 |

---

____________

<sup>(a)</sup> See *Note 1 – General* for further discussion regarding the 4,520.3317-for-one forward stock split in connection with the Company's IPO.

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME**

(in millions)

(unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| **NET INCOME (LOSS)** | $550 | $(294) | $1542 | $756 |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash flow hedges, net |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reclassification to earnings, net of income tax expense of $0, $1, $2 and $2, respectively | 3 | 2 | 9 | 8 |
| **COMPREHENSIVE INCOME (LOSS)** | 553 | (292) | 1551 | 764 |
| &nbsp;&nbsp;&nbsp;Less: Comprehensive income attributable to redeemable stock of subsidiary | 44 | 37 | 121 | 107 |
| &nbsp;&nbsp;&nbsp;Less: Comprehensive income attributable to non-controlling interests | 11 | 15 | 26 | 44 |
| &nbsp;&nbsp;&nbsp;Less: Dividends on VGLNG Series A Preferred Shares | 67 | 1 | 202 | 1 |
| **COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS** | $431 | $(345) | $1202 | $612 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY**

(in millions)

(unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Stockholders' equity | Stockholders' equity | Stockholders' equity | Stockholders' equity | Stockholders' equity | Stockholders' equity | Stockholders' equity | Stockholders' equity | |
| | Common stock | Common stock | Common stock | Common stock | Additional paid in capital | Retained <br>earnings | Accumulated other comprehensive loss | Total stockholders' equity | Non-controlling interests |
| | Class A | Class A | Class B | Class B | Additional paid in capital | Retained <br>earnings | Accumulated other comprehensive loss | Total stockholders' equity | Non-controlling interests |
| | Shares | Par value | Shares | Par value | Additional paid in capital | Retained <br>earnings | Accumulated other comprehensive loss | Total stockholders' equity | Non-controlling interests |
| **BALANCE AT DECEMBER 31, 2024** | 2350 | $23 |  | $— | $512 | $2611 | $(249) | $2897 | $3470 |
| &nbsp;&nbsp;Net income |  |  |  |  |  | 396 |  | 396 | 83 |
| &nbsp;&nbsp;Stock-based compensation |  |  |  |  | (17) |  |  | (17) |  |
| &nbsp;&nbsp;Subsidiary dividends and distributions |  |  |  |  |  | (68) |  | (68) | (82) |
| &nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 3 | 3 |  |
| &nbsp;&nbsp;Conversion of Class A common stock to Class B common stock | (1969) | (20) | 1969 | 20 |  |  |  |  |  |
| &nbsp;&nbsp;Issuance of Class A common stock, net | 70 | 1 |  |  | 1669 |  |  | 1670 |  |
| **BALANCE AT MARCH 31, 2025** | 451 | $4 | 1969 | $20 | $2164 | $2939 | $(246) | $4881 | $3471 |
| &nbsp;&nbsp;Net income |  |  |  |  |  | 368 |  | 368 | 68 |
| &nbsp;&nbsp;Stock-based compensation | 5 |  |  |  | 16 |  |  | 16 |  |
| &nbsp;&nbsp;Subsidiary distributions |  |  |  |  |  |  |  |  | (2) |
| &nbsp;&nbsp;Other comprehensive income (loss) |  |  |  |  |  |  | 4 | 4 | (1) |
| **BALANCE AT JUNE 30, 2025** | 456 | $4 | 1969 | $20 | $2180 | $3307 | $(242) | $5269 | $3536 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  |  | 429 |  | 429 | 77 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 21 |  |  |  | 34 |  |  | 34 |  |
| &nbsp;&nbsp;&nbsp;Dividends declared on common stock |  |  |  |  |  | (42) |  | (42) |  |
| &nbsp;&nbsp;&nbsp;Subsidiary distributions |  |  |  |  |  |  |  |  | (135) |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 2 | 2 | 1 |
| **BALANCE AT SEPTEMBER 30, 2025** | 477 | $4 | 1969 | $20 | $2214 | $3694 | $(240) | $5692 | $3479 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Stockholders' equity | Stockholders' equity | Stockholders' equity | Stockholders' equity | Stockholders' equity | Stockholders' equity | Stockholders' equity | Stockholders' equity | |
| | Common stock | Common stock | Common stock | Common stock | Additional paid in capital | Retained <br>earnings | Accumulated other comprehensive loss | Total stockholders' equity | Non-controlling interests |
| | Class A | Class A | Class B | Class B | Additional paid in capital | Retained <br>earnings | Accumulated other comprehensive loss | Total stockholders' equity | Non-controlling interests |
| | Shares | Par value | Shares | Par value | Additional paid in capital | Retained <br>earnings | Accumulated other comprehensive loss | Total stockholders' equity | Non-controlling interests |
| **BALANCE AT DECEMBER 31, 2023** | 2350 | $23 |  | $— | $519 | $1228 | $(260) | $1510 | $575 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  |  | 648 |  | 648 | 15 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  | (13) |  |  | (13) |  |
| &nbsp;&nbsp;&nbsp;Subsidiary distributions |  |  |  |  |  |  |  |  | (15) |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 3 | 3 |  |
| **BALANCE AT MARCH 31, 2024** | 2350 | $23 |  | $— | $506 | $1876 | $(257) | $2148 | $575 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  |  | 303 |  | 303 | 14 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  | (4) |  |  | (4) |  |
| &nbsp;&nbsp;&nbsp;Subsidiary distributions |  |  |  |  |  |  |  |  | (14) |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 3 | 3 |  |
| **BALANCE AT JUNE 30, 2024** | 2350 | $23 |  | $— | $502 | $2179 | $(254) | $2450 | $575 |
| &nbsp;&nbsp;&nbsp;Net income (loss) |  |  |  |  |  | (346) |  | (346) | 15 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation |  |  |  |  | 6 |  |  | 6 |  |
| &nbsp;&nbsp;&nbsp;Dividends declared on common stock |  |  |  |  |  | (160) |  | (160) |  |
| &nbsp;&nbsp;&nbsp;Subsidiary distributions |  |  |  |  |  |  |  |  | (15) |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 2 | 2 |  |
| &nbsp;&nbsp;&nbsp;Issuance of VGLNG Preferred Shares,<br> net |  |  |  |  |  |  |  |  | 2900 |
| **BALANCE AT SEPTEMBER 30, 2024** | 2350 | $23 |  | $— | $508 | $1673 | $(252) | $1952 | $3475 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

(in millions)

(unaudited)

---

| | | |
|:---|:---|:---|
| | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** |
| **OPERATING ACTIVITIES** |  |  |
| &nbsp;&nbsp;Net income | $1542 | $756 |
| &nbsp;&nbsp;Adjustments to reconcile net income to net cash from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;(Gain) loss on derivatives, net | 539 | (70) |
| &nbsp;&nbsp;&nbsp;Cash from settlement of derivatives, net | 994 | 160 |
| &nbsp;&nbsp;&nbsp;Loss on financing transactions | 204 | 14 |
| &nbsp;&nbsp;&nbsp;Deferred taxes | 350 | 186 |
| &nbsp;&nbsp;&nbsp;Non-cash interest expense | 101 | 55 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 701 | 229 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 34 | 18 |
| &nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (279) | 169 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory | (56) | (129) |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | (9) | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | 345 | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other, net | (11) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash from operating activities | 4455 | 1476 |
| **INVESTING ACTIVITIES** |  |  |
| &nbsp;&nbsp;Purchases of property, plant and equipment | (9740) | (10058) |
| &nbsp;&nbsp;Other investing activities | 163 | (378) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used by investing activities | (9577) | (10436) |
| **FINANCING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from issuance of debt | 6500 | 1584 |
| &nbsp;&nbsp;&nbsp;Proceeds from project credit facilities | 4890 | 5410 |
| &nbsp;&nbsp;&nbsp;IPO issuance of Class A common stock | 1750 |  |
| &nbsp;&nbsp;&nbsp;Proceeds from issuance of VGLNG Series A Preferred Shares |  | 3000 |
| &nbsp;&nbsp;&nbsp;Repayment of debt | (7697) | (859) |
| &nbsp;&nbsp;&nbsp;Payments of financing and issuance costs | (898) | (95) |
| &nbsp;&nbsp;&nbsp;Payments of dividends and subsidiary distributions | (423) | (83) |
| &nbsp;&nbsp;&nbsp;Other financing activities | (72) | (234) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash from financing activities | 4050 | 8723 |
| Net decrease in cash, cash equivalents and restricted cash | (1072) | (237) |
| Cash, cash equivalents and restricted cash at beginning of period | 4614 | 5872 |
| **CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD** | $3542 | $5635 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**Note 1 – General**

**The Company**

Venture Global is a Delaware corporation formed by the managing members of VG Partners on September 19, 2023. As used in these condensed consolidated financial statements, unless the context otherwise requires, references to the "Company," "we," "us," and "our" refer to Venture Global and its consolidated subsidiaries.

The Company sells LNG and is engaged in the operation, construction, and development of natural gas liquefaction and export facilities in North America ("LNG projects"). Each LNG project includes a liquefaction facility and export terminal and one or more associated pipelines that interconnect with several interstate and intrastate pipelines for delivery of natural gas into the associated liquefaction facility and export terminal. Our current LNG projects include the Calcasieu Project, the Plaquemines Project, the CP2 Project, the CP3 Project, and the Delta Project.

The Company is also engaged in the acquisition and operation of LNG tankers to deliver its LNG directly to customers through its direct sales and shipping business ("DS&S") and is pursuing opportunities to secure additional LNG regasification capacity. In addition, the Company is engaged in the development and construction of pipeline infrastructure projects to establish complementary gas transportation for its LNG projects.

**Basis of presentation and consolidation**

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments considered necessary for fair presentation, have been included. Interim results are not necessarily indicative of results for a full year. The accompanying condensed consolidated financial statements are unaudited and should be read in conjunction with the 2024 audited consolidated financial statements and notes thereto, which are included in the Company's Annual Report on Form 10-K filed with the SEC on March 6, 2025 (the "2024 Form 10-K"). Except for per share amounts or as otherwise specified, dollar amounts presented within tables are stated in millions.

The accompanying unaudited condensed consolidated financial statements include the accounts of Venture Global, Inc. and its controlled subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to current period presentation.

**Stock Split**

On January 27, 2025, and in connection with the completion of its IPO, the Company effectuated an approximately 4,520.3317-for-one forward stock split of its Class A common stock. All Class A common stock share and per share amounts in these condensed consolidated financial statements have been retroactively adjusted to reflect the impact of the stock split. See *Note 15 – Equity* for further discussion of the IPO.

**Use of estimates**

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and the accompanying notes. While management believes that the estimates and assumptions used in the preparation of the condensed consolidated financial statements are appropriate, actual results could differ from those estimates.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**Note 2 – Restricted Cash**

The following table summarizes the components of restricted cash:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| Current restricted cash |  |  |
| &nbsp;&nbsp;Debt service reserves | $190 | $141 |
| &nbsp;&nbsp;Other project reserves | 144 | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current restricted cash | $334 | $169 |
| Noncurrent restricted cash |  |  |
| &nbsp;&nbsp;Construction reserves | $1224 | $611 |
| &nbsp;&nbsp;Debt service reserves | 105 | 226 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noncurrent restricted cash | $1329 | $837 |

---

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the condensed consolidated statements of cash flows:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| Cash and cash equivalents | $1879 | $3608 |
| Current restricted cash | 334 | 169 |
| Noncurrent restricted cash | 1329 | 837 |
| &nbsp;&nbsp;Cash, cash equivalents, and restricted cash per the condensed consolidated statements of cash flows | $3542 | $4614 |

---

**Note 3 – Revenue from Contracts with Customers**

The Company has entered into numerous contracts for the sale of LNG to third-party customers. The Company's customers generally purchase LNG for a price which includes a fixed liquefaction fee per MMBtu of LNG (a portion of which is subject to annual adjustment for inflation) plus a variable commodity fee per MMBtu of LNG indexed to Henry Hub. The fixed liquefaction fee component under the Company's post-COD SPAs is the amount owed to the Company regardless of a cancellation or suspension of LNG cargo deliveries by its customers. The variable commodity fee component is the amount generally payable to the Company only upon delivery of LNG. The Company's LNG sales agreements include provisions for contingent payments for non-performance, delays, or other damages, which may be due from the Company, and represent variable consideration. Any estimates for contingent payments are based on either the Company's best estimate of the most likely outcome or the expected value, depending on which method best predicts the total net consideration to which the Company will be entitled over the term of the LNG sales agreement. Payments, and estimates for contingent payments, are recognized as a reduction to the transaction price (as an adjustment to the fixed liquefaction fee) as LNG is delivered to customers over the term of the LNG sales agreement.

Liabilities associated with estimates for contingent payments are limited to any rights to payment from customers (i.e., for satisfied performance obligations) that are in excess of the recognized transaction price until the uncertainty around the obligation, including its value, is resolved. A liability is not recognized for estimates of contingent payments until the earlier of when consideration received from a customer exceeds the transaction price allocated to satisfied performance obligations, or a contingent payment becomes a fixed financial obligation.

LNG produced prior to the relevant project or phase thereof reaching COD is sold under short- or mid-term LNG Commissioning Sales Agreements at prevailing market prices when executed. LNG Commissioning Sales Agreements are contracted with customers through the Company's LNG projects and its DS&S business.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

On April 15, 2025, the Calcasieu Project declared COD and commenced the sale of LNG to its customers under its post-COD SPAs. Under the post-COD SPAs, customers purchase LNG for a price consisting of a fixed liquefaction fee plus a variable commodity fee per MMBtu of LNG. The Calcasieu Project post-COD SPAs are delivered on a FOB basis, which means that the title to the LNG will transfer at the time our customers take delivery at our facility.

The following table summarizes the disaggregation of revenue earned from contracts with customers:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| LNG revenue | $3309 | $921 | $9269 | $3431 |
| Other revenue | 20 | 5 | 55 | 17 |
| &nbsp;&nbsp;&nbsp;Total revenue | $3329 | $926 | $9324 | $3448 |

---

*Transaction price allocated to future performance obligations* 

Because many of the Company's sales contracts have long-term durations, the Company is contractually entitled to significant future consideration which it has not yet recognized as revenue. The following table discloses the aggregate amount of the transaction price, including variable consideration, that is allocated to performance obligations for legally enforceable sales agreements that have not yet been satisfied, excluding all performance obligations that are part of contracts that have an expected duration of one year or less (dollar amounts in billions):

---

| | | |
|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** |
| | Unsatisfied transaction price<sup>(a)</sup> | Weighted average recognition timing <br>(in years) |
| LNG revenue | $270.8 | 19.6 years |

---

_____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>&nbsp;&nbsp;&nbsp;&nbsp;A portion of the transaction price is based on the forecasted Henry Hub index as of period end.

Significant judgments were made when estimating the transaction price allocated to future performance obligations. These include i) the best estimate of when the Company's respective projects will reach COD and the post-COD SPAs will commence, which is currently expected to occur in 2026 and 2027 for the first and second phases of the Plaquemines Project, respectively, and 2029 for the first phase of the CP2 Project, and ii) reductions to the transaction price to reflect management's best estimate of variable consideration. This variable consideration relates to the five pending disputes with Calcasieu Project post-COD SPA customers who are asserting that the Calcasieu Project was delayed in declaring COD under the respective post-COD SPAs.

On October 8, 2025, the Company was notified that a partial final award had been issued in the arbitration proceedings with BP Gas Marketing Limited ("BP"). Remedies were not addressed in the partial final award and will be determined in a separate damages hearing. A final award is expected to be issued following the damages portion of the hearing. Based on the terms of the partial final award, the Company does not anticipate that the final award will be subject to the seller aggregate liability limitation in the BP post-COD SPA. The remedies sought by BP include damages in excess of $1.0 billion, as well as interest, costs and attorneys' fees. Four of the Calcasieu Project's other customers are disputing whether the liability limitations in the Company's post-COD SPAs are applicable, and therefore are claiming damages, including amounts in excess of the liability limitations. The Company believes the disputes with these other customers are subject to the aggregate liability limitations of $765 million under the applicable post-COD SPAs.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**Note 4 – Inventory**

The following table summarizes the components of inventory:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| Spare parts and materials | $138 | $89 |
| LNG | 33 | 36 |
| LNG in-transit | 41 | 36 |
| Other | 15 | 10 |
| &nbsp;&nbsp;&nbsp;Total inventory | $227 | $171 |

---

**Note 5 – Property, Plant and Equipment**

The following table presents the components of property, plant and equipment, net and their estimated useful lives (in years):

---

| | | | |
|:---|:---|:---|:---|
| | **Estimated useful life** | **September 30,<br>2025** | **December 31,<br>2024** |
| Terminal and interconnected pipeline facilities<sup>(a)</sup> | 7-47 | $30843 | $18698 |
| Construction in progress | N/A | 6955 | 10773 |
| Advanced equipment and construction payments | N/A | 4790 | 4733 |
| LNG tankers | 25 | 1504 | 630 |
| Other<sup>(b)</sup> | 2-35 | 661 | 633 |
| &nbsp;&nbsp;&nbsp;Total property, plant and equipment at cost |  | 44753 | 35467 |
| Accumulated depreciation |  | (1495) | (792) |
| &nbsp;&nbsp;&nbsp;Total property, plant and equipment, net |  | $43258 | $34675 |

---

____________

<sup>(a)&nbsp;&nbsp;&nbsp;&nbsp;</sup>During the nine months ended September 30, 2025, the Company extended the probable remaining terms of certain land leases and therefore extended the estimated useful lives of the terminal assets previously constrained by the terms of the land lease to which they are affixed. This resulted in a $88 million reduction to depreciation expense, or $0.04 and $0.03 increase in basic and diluted earnings per share, respectively, for the three and nine months ended September 30, 2025. See *Note 6 – Leases* for further discussion.&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(b) &nbsp;&nbsp;&nbsp;&nbsp;</sup>Includes land, which does not depreciate, buildings, and finance lease assets. See *Note 6 – Leases* for further discussion.

During the nine months ended September 30, 2025, the CP2 Project was deemed probable of construction and completion. Subsequent costs associated with the development and construction of the terminal and associated pipeline, including capitalizable interest, have been capitalized as construction in progress or advanced equipment payments.

In May 2025 and July 2025, the Company acquired the remaining equity ownership interests in Kagami 1 and Kagami 2, respectively. The purchases of Kagami 1 and Kagami 2 were recognized prospectively as asset acquisitions of the LNG tankers named Venture Acadia and Venture Creole, respectively. See *Note 7 – Equity Method Investments* for further discussion.

During the nine months ended September 30, 2025, the Company recognized $62 million of net proceeds, after deducting the cost of feed gas, from Test LNG sales as a reduction to the cost basis of the Plaquemines Project LNG terminal.

As of September 30, 2025, $23.2 billion, which represents a portion of the Plaquemines Project's property, plant and equipment, has been placed in service in accordance with the applicable accounting guidance. The Plaquemines Project remains under construction and is undergoing its planned commissioning program to satisfy the requirements necessary for achieving commercial operations as defined under the applicable contracts. Costs associated with these efforts will be either capitalized or expensed in accordance with the applicable accounting guidance.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

The following table presents depreciation expense recognized on the condensed consolidated statements of operations:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Depreciation expense | $216 | $87 | $693 | $224 |

---

**Note 6 – Leases**

Operating leases consist primarily of leased land, LNG tankers, and office space and facilities. Finance leases consist primarily of leased marine vessels and a bridge.

During the nine months ended September 30, 2025, the Company determined that it was reasonably certain to exercise certain options to renew various land leases thereby extending the probable remaining lease terms. This was recognized as a lease modification and resulted in an increase in right-of-use assets in exchange for operating lease liabilities of $88 million.

The following table presents the line item classification of right-of-use assets and lease liabilities on the condensed consolidated balance sheets:

---

| | | | |
|:---|:---|:---|:---|
| | **Line item** | **September 30,<br>2025** | **December 31,<br>2024** |
| Right-of-use assets—operating | Right-of-use assets | $760 | $602 |
| Right-of-use assets—finance | Property, plant and equipment, net | 285 | 279 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total right-of-use assets |  | $1045 | $881 |
| Current operating lease liabilities | Accrued and other liabilities | $78 | $81 |
| Current finance lease liabilities | Accrued and other liabilities | 9 | 10 |
| Noncurrent operating lease liabilities | Noncurrent operating lease liabilities | 708 | 536 |
| Noncurrent finance lease liabilities | Other noncurrent liabilities | 250 | 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total lease liabilities |  | $1045 | $875 |

---

The Company's lease costs are presented in various line items consistent with the underlying nature of the lease. The following table presents the components of total lease costs included in the condensed consolidated statements of operations.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Operating lease cost | $37 | $28 | $98 | $69 |
| Finance lease cost | 7 | 8 | 26 | 20 |
| &nbsp;&nbsp;Total lease cost | $44 | $36 | $124 | $89 |

---

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**Note 7 – Equity Method Investments**

The following table presents equity method investment ownership interests and carrying values:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** |
| **Equity method investment** | **Ownership <br>interest** | **Carrying** <br>**value**<sup>(a)</sup> | **Ownership <br>interest** | **Carrying <br>value** |
| Kagami 1 | 100% | $— | 39% | $164 |
| Kagami 2 | 100% |  | 39% | 163 |
| &nbsp;&nbsp;Total |  | $— |  | $327 |

---

_____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>As of September 30, 2025, the LNG tankers held by Kagami 1 and Kagami 2 are recognized as property, plant and equipment. See *Note 5 – Property, Plant and Equipment* for further discussion.

*Kagami Companies*

In 2023, the Company began acquiring equity interests in Kagami 1 and Kagami 2. The Kagami Companies each purchased one LNG tanker. The equity method investments were recognized within other noncurrent assets and held by the DS&S reportable segment.

In May 2025 and July 2025, the Company completed the acquisitions of the full equity ownership interests in Kagami 1 and Kagami 2, respectively, through a series of transactions, for a total purchase price of $540 million. Prior to the acquisitions, Kagami 1 and Kagami 2 were VIEs in which the Company was not the primary beneficiary since it lacked the power to make significant decisions, and were accordingly recognized as equity method investments. See *Note 5 – Property, Plant and Equipment* for further discussion.

**Note 8 – Accrued and Other Liabilities**

Components of accrued and other liabilities included:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| Accrued construction and equipment costs | $714 | $620 |
| Accrued interest | 427 | 361 |
| Accrued natural gas purchases | 487 | 267 |
| Accrued compensation | 218 | 191 |
| Accrued dividends and distributions |  | 95 |
| Other | 274 | 282 |
| &nbsp;&nbsp;Total accrued and other liabilities | $2120 | $1816 |

---

**Note 9 – Asset Retirement Obligations**

During the nine months ended September 30, 2025, the Company extended the probable remaining terms of certain land leases. In connection with the extension, the Company revised the estimated settlement dates for certain asset retirement obligations resulting in an aggregate reduction of $339 million to the corresponding asset and liability. The total obligation as of September 30, 2025, and December 31, 2024, was $199 million and $502 million, respectively. See *Note 6 – Leases* for further discussion.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**Note 10 – Debt**

The following table summarizes outstanding debt:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Maturity** | **Interest rate** | **September 30,<br>2025** | **December 31,<br>2024** |
| **Fixed rate:** | | | | |
| &nbsp;&nbsp;**VGLNG Senior Secured Notes** | | | | |
| &nbsp;&nbsp;&nbsp;VGLNG 2028 Notes | June 1, 2028 | 8.125% | $2250 | $2250 |
| &nbsp;&nbsp;&nbsp;VGLNG 2029 Notes<sup>(a)</sup> | February 1, 2029 | 9.500% | 3000 | 3000 |
| &nbsp;&nbsp;&nbsp;VGLNG 2030 Notes | January 15, 2030 | 7.000% | 1500 | 1500 |
| &nbsp;&nbsp;&nbsp;VGLNG 2031 Notes | June 1, 2031 | 8.375% | 2250 | 2250 |
| &nbsp;&nbsp;&nbsp;VGLNG 2032 Notes<sup>(b)</sup> | February 1, 2032 | 9.875% | 2000 | 2000 |
| &nbsp;&nbsp;**VGCP Senior Secured Notes** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;VGCP 2029 Notes | August 15, 2029 | 3.875% | 1250 | 1250 |
| &nbsp;&nbsp;&nbsp;VGCP 2030 Notes | January 15, 2030 | 6.250% | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;VGCP 2031 Notes | August 15, 2031 | 4.125% | 1250 | 1250 |
| &nbsp;&nbsp;&nbsp;VGCP 2033 Notes | November 1, 2033 | 3.875% | 1250 | 1250 |
| &nbsp;&nbsp;**VGPL Senior Secured Notes** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;VGPL 2033 Notes | May 1, 2033 | 7.500% | 1250 |  |
| &nbsp;&nbsp;&nbsp;VGPL 2034 Notes | January 15, 2034 | 6.500% | 2000 |  |
| &nbsp;&nbsp;&nbsp;VGPL 2035 Notes | May 1, 2035 | 7.750% | 1250 |  |
| &nbsp;&nbsp;&nbsp;VGPL 2036 Notes | January 15, 2036 | 6.750% | 2000 |  |
| &nbsp;&nbsp;Other fixed rate debt<sup>(c)</sup> | September 5, 2029 | 7.600% | 84 | 84 |
| **Variable rate:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Calcasieu Pass Construction Term Loan |  |  | 855 | 997 |
| &nbsp;&nbsp;&nbsp;Plaquemines Construction Term Loan |  |  | 5701 | 12635 |
| &nbsp;&nbsp;&nbsp;Plaquemines Working Capital Facility |  |  | 154 | 85 |
| &nbsp;&nbsp;&nbsp;CP2 Construction Term Loan |  |  | 100 |  |
| &nbsp;&nbsp;&nbsp;CP2 Holdings EBL Facilities |  |  | 3000 |  |
| &nbsp;&nbsp;&nbsp;Blackfin TLA Facility |  |  | 54 |  |
| &nbsp;&nbsp;Blackfin TLB Facility<sup>(d)</sup> |  |  | 1050 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total outstanding debt |  |  | 33248 | 29551 |
| &nbsp;&nbsp;Less: Unamortized debt discount, premium<br>&nbsp;&nbsp;&nbsp;&nbsp; and issuance costs |  |  | (649) | (275) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total outstanding debt, net |  |  | 32599 | 29276 |
| &nbsp;&nbsp;Less: Current portion of long-term debt, net |  |  | (856) | (190) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total long-term debt, net |  |  | $31743 | $29086 |

---

____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>Issued at 100.167% of par.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(b)</sup>Issued at 99.661% of par.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(c)</sup>Secured by a first priority interest in corporate property.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(d)</sup>Issued at 99.500% of par.

***Fixed rate debt***

*VGLNG Senior Secured Notes*

The VGLNG Senior Secured Notes are secured on a pari passu basis by a first-priority security interest in substantially all of the existing and future assets of VGLNG and the future guarantors, if any. In addition, VGLNG has pledged its membership interests in certain material direct subsidiaries as collateral to secure its obligations under the VGLNG Senior Secured Notes. VGLNG may redeem all or part of the VGLNG Senior Secured Notes at specified prices set forth in the respective governing indenture, plus accrued interest, if any, as of the date of the redemption.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

*VGCP Senior Secured Notes*

The obligations of VGCP under the VGCP Senior Secured Notes are guaranteed by TCP and secured on a pari passu basis by a first-priority security interest in the assets that secure the Calcasieu Pass Credit Facilities. VGCP may redeem all or part of the VGCP Senior Secured Notes at specified prices set forth in the respective governing indenture, plus accrued interest, if any, as of the date of the redemption.

*VGPL Senior Secured Notes*

In April 2025, VGPL issued $2.5 billion aggregate principal amount of senior secured notes, which were issued in two series: (i) a series of 7.500% senior secured notes due 2033 in an aggregate principal amount of $1.25 billion (the "VGPL 2033 Notes") and (ii) a series of 7.750% senior secured notes due 2035 in an aggregate amount of $1.25 billion ("the VGPL 2035 Notes"). In July 2025, VGPL issued $4.0 billion aggregate principal amount of senior secured notes, which were issued in two series: (i) a series of 6.500% senior secured notes due 2034 in an aggregate principal amount of $2.0 billion (the "VGPL 2034 Notes") and (ii) a series of 6.750% senior secured notes due 2036 in an aggregate principal amount of $2.0 billion (the "VGPL 2036 Notes"). In connection with the issuance of the VGPL Senior Secured Notes, Plaquemines incurred debt issuance costs of $134 million primarily related to lender fees which will be amortized over the term of the notes.

In connection with the issuances, VGPL settled a pro rata portion of its interest rate swaps that hedged the variable interest on the Plaquemines Credit Facilities for cash proceeds of $869 million. See *Note 11 – Derivatives* for further discussion. The net proceeds from the issuances and swap breakage proceeds were used to prepay $7.2 billion outstanding under the Plaquemines Construction Term Loan and to pay costs incurred in connection with the offerings. The prepayments were accounted for as partial extinguishments resulting in a $163 million loss on financing transactions during the nine months ended September 30, 2025.

The obligations of VGPL under the VGPL Senior Secured Notes are guaranteed by Gator Express and secured on a pari passu basis by a first-priority security interest in the assets that secure the Plaquemines Credit Facilities. VGPL may redeem all or part of the VGPL Senior Secured Notes at specified prices set forth in the respective governing indenture, plus accrued interest, if any, as of the date of the redemption.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

***Variable rate debt — LNG projects***

Below is a summary of committed credit facilities outstanding for our LNG projects as of September 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Calcasieu Pass** <br>**Credit Facilities**<sup>(a)</sup> | **Calcasieu Pass** <br>**Credit Facilities**<sup>(a)</sup> | **Plaquemines** <br>**Credit Facilities**<sup>(b)</sup> | **Plaquemines** <br>**Credit Facilities**<sup>(b)</sup> | **CP2 Credit Facilities**<sup>(c)</sup> | **CP2 Credit Facilities**<sup>(c)</sup> | |
| | **Calcasieu Pass Construction Term Loan** | **Calcasieu Pass Working Capital Facility** | **Plaquemines Construction Term Loan** | **Plaquemines Working Capital Facility** | **CP2 Construction Term Loan** | **CP2 <br>Working Capital Facility** | **CP2 Holdings EBL Facilities**<sup>(d)</sup> |
| Original facility size | $| 300 | $| 1100 | 11250 | 850 | $|
| Incremental commitments |  | 255 | 4489 | 1000 |  |  |  |
| Less: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Outstanding balances | 855 |  | 5701 | 154 | 100 |  | 3000 |
| &nbsp;&nbsp;Commitments prepaid<br> or terminated | 4622 |  | 7247 |  |  |  |  |
| &nbsp;&nbsp;Letters of credit issued |  | 299 |  | 1337 |  | 110 |  |
| Available commitments | $| 256 | $| 609 | 11150 | 740 | $|
| Priority ranking | Senior <br>secured | Senior <br>secured | Senior <br>secured | Senior <br>secured | Senior <br>secured | Senior <br>secured | Senior <br>secured |
| Interest rate on outstanding balances | &nbsp;&nbsp;&nbsp;&nbsp; SOFR + | &nbsp;&nbsp;&nbsp;&nbsp; SOFR + | &nbsp;&nbsp;&nbsp;&nbsp; SOFR + | &nbsp;&nbsp;&nbsp;&nbsp; SOFR + | &nbsp;&nbsp;&nbsp;&nbsp; SOFR + | &nbsp;&nbsp;&nbsp;&nbsp; SOFR + | &nbsp;&nbsp;&nbsp;&nbsp; SOFR + |
| Interest rate on outstanding balances | 2.375% <br> to <br>2.875% | 2.375% <br>to <br>2.875% | 1.975% <br>to <br>2.625% | 1.975% <br>to <br>2.625% | 2.250% <br>to <br>2.750% | 2.250% <br>to <br>2.750% | 3.500% |
| Interest rate on outstanding balances | or | or | or | or | or | or | or |
| Interest rate on outstanding balances | base rate + | base rate + | base rate + | base rate + | base rate + | base rate + | base rate + |
| Interest rate on outstanding balances | 1.375% <br>to <br>1.875% | 1.375% <br>to <br>1.875% | 0.875% <br>to <br>1.375% | 0.875% <br>to <br>1.375% | 1.250% <br>to <br>1.750% | 1.250% <br>to <br>1.750% | 2.500% |
| Commitment fees on undrawn balance | 0.831% | 1.006% | 0.656% | 0.656% | 0.788%<br>to <br>0.963% | 0.788%<br>to <br>0.963% | N/A |
| Maturity date | August 19, 2026 | August 19, 2026 | May 25, 2029 | May 25, 2029 | July 28, 2032 | July 28, 2032 | July 28, 2028 |

---

____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>The obligations of VGCP as the borrower are guaranteed by TCP and secured by a first-priority lien on substantially all of the assets of VGCP and TCP, as well as all of the membership interests in those companies.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(b)</sup>The obligations of VGPL as the borrower are guaranteed by Gator Express and secured by a first-priority lien on substantially all of the assets of VGPL and Gator Express, as well as all of the membership interests in those companies.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(c)</sup>The obligations of CP2 as the borrower are guaranteed by CP2 Procurement and CP Express and secured by a first-priority lien on substantially all of the assets of CP2, CP2 Procurement and CP Express, as well as all of the membership interests in those companies.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(d)</sup>CP2 Holdings as the borrower has pledged all its assets as collateral to secure its obligations under the CP2 Holdings EBL Facilities.

*CP2 Bridge Facilities*

In May 2025, CP2 as borrower, and CP2 Procurement and CP Express as guarantors, entered into the $3.0 billion CP2 Bridge Facilities, consisting of a $2.8 billion delayed draw bridge loan facility (the "CP2 Bridge Loan Facility") and a $175 million interest reserve facility (the "CP2 Interest Reserve Facility"). Borrowings under the CP2 Bridge Facilities bear interest at a set margin rate over the debt term, plus, at the Company's election, either a SOFR or base rate. The set margin rate for SOFR-based loans is 3.500% and the set margin rate for base rate loans is 2.500%. The Company also incurred commitment fees of 35% of the set margin rate on the undrawn available commitments of the CP2 Bridge Facilities. In connection with the issuance of the CP2 Bridge Facilities, CP2 incurred debt issuance costs of $95 million primarily related to lender fees which will be amortized over the term of the credit facility.

In July 2025, the Company prepaid in full the $1.1 billion outstanding balance under the CP2 Bridge Facilities using proceeds from the CP2 Holdings EBL Facilities entered into in connection with FID for the first phase of the CP2

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

Project, discussed below. Of the total prepayment, $308 million was accounted for as a debt extinguishment and $777 million was accounted for as a debt modification. This resulted in the write-off of $25 million of previously capitalized deferred issuance costs and $16 million in fees paid to the extinguished lenders recognized as loss on financing transactions in the condensed consolidated statements of operations during the nine months ended September 30, 2025.

*FID for the first phase of the CP2 Project*

In July 2025, the first phase of the CP2 Project achieved FID and the Company obtained $15.1 billion in project financing. The Company, through its subsidiary CP2 Holdings, entered into the $3.0 billion CP2 Holdings EBL Facilities. Furthermore, CP2, as borrower, and CP2 Procurement and CP Express, as guarantors, entered into the $12.1 billion aggregate senior secured CP2 Credit Facilities. Additional details regarding these transactions follows.

*CP2 Holdings EBL Facilities*

In July 2025, CP2 Holdings, as borrower, entered into $3.0 billion aggregate secured credit facilities, consisting of a $2.8 billion secured equity bridge credit facility (the "CP2 Equity Bridge Facility") and a $191 million three-year secured interest reserve credit facility (the "CP2 Interest Reserve Facility", and together with the CP2 Equity Bridge Facility, the "CP2 Holdings EBL Facilities"). In connection with the issuance of the CP2 Holdings EBL Facilities, CP2 Holdings incurred debt issuance costs of $95 million primarily related to new and modified lender fees which are amortized over the term of the credit facility. A portion of the proceeds from the project financing was used to prepay the outstanding CP2 Bridge Facilities in full and pay costs incurred in connection with the project financing. The remaining proceeds from the project financing will be used to fund the costs of financing, developing, constructing, and placing in service the first phase of the CP2 Project.

The CP2 Holdings EBL Facilities are subject to mandatory prepayment provisions, including provisions which would require prepayment with the proceeds of additional indebtedness or prepayment upon receipt of certain net proceeds from the sale of commissioning cargos generated by the Plaquemines Project. The CP2 Holdings EBL Facilities can be voluntarily prepaid at any time without premium or penalty.

*CP2 Credit Facilities*

In July 2025, CP2, as borrower, and CP2 Procurement and CP Express, as guarantors, entered into $12.1 billion aggregate senior secured credit facilities, consisting of the $11.3 billion CP2 Construction Term Loan and the $850 million CP2 Working Capital Facility. In connection with the issuance of the CP2 Credit Facilities, CP2 incurred debt issuance costs of $460 million primarily related to lender fees which are amortized over the term of the credit facility. Proceeds from the CP2 Credit Facilities will be used to fund the costs of financing, developing, constructing, and placing in service the first phase of the CP2 Project.

The CP2 Credit Facilities can be voluntarily prepaid at any time without premium or penalty.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

***Variable rate debt — pipeline infrastructure projects***

Below is a summary of committed credit facilities outstanding for the Company's pipeline infrastructure projects as of September 30, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Blackfin Credit Facilities**<sup>(a)</sup> | **Blackfin Credit Facilities**<sup>(a)</sup> | **Blackfin Credit Facilities**<sup>(a)</sup> | **Blackfin Credit Facilities**<sup>(a)</sup> | **Blackfin Credit Facilities**<sup>(a)</sup> |
| | **Blackfin TLA Facility** | **Blackfin TLA Facility** | **Blackfin TLB Facility** | **Blackfin Working Capital Facility** | **Blackfin Working Capital Facility** |
| Original facility size | $| 425 | $| $| 75 |
| Less: |  |  |  |  |  |
| &nbsp;&nbsp;Outstanding balances | 54 | 54 | 1050 |  |  |
| Available commitments | $| 371 | $| $| 75 |
| Priority ranking | Senior secured | Senior secured | Senior secured | Senior secured | Senior secured |
| Interest rate on outstanding balances | SOFR + 2.250% | SOFR + 2.250% | SOFR + 3.000% | SOFR + 2.250% | SOFR + 2.250% |
| Interest rate on outstanding balances | or | or | or | or | or |
| Interest rate on outstanding balances | base rate + 1.250% | base rate + 1.250% | base rate + 2.000% | base rate + 1.250% | base rate + 1.250% |
| Commitment fees on undrawn balance | 0.438% to 0.875% | 0.438% to 0.875% | N/A | 0.438% to 0.875% | 0.438% to 0.875% |
| Maturity date | September 29, 2030 | September 29, 2030 | September 29, 2032 | September 29, 2030 | September 29, 2030 |

---

____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>Blackfin, as borrower, has pledged all its assets as collateral to secure its obligations under the Blackfin Credit Facilities.

*Blackfin Credit Facilities*

In September 2025, Blackfin, as borrower, entered into $1.6 billion aggregate senior secured facilities, consisting of a $1.1 billion secured term loan facility (the "Blackfin TLB Facility") and a $425 million secured construction term loan facility (the "Blackfin TLA Facility") and a $75 million secured revolving loan and letter of credit facility (the "Blackfin Working Capital Facility", and together with the Blackfin TLA Facility and the Blackfin TLB Facility, the "Blackfin Credit Facilities"). In connection with the issuance of the Blackfin Credit Facilities, Blackfin incurred debt issuance costs of $41 million primarily related to lender fees which will be amortized over the term of the credit facility. Proceeds from the Blackfin Credit Facilities were used to reimburse $859 million to VGLNG for prior expenditures related to the development and construction of the Blackfin pipeline, and pay certain costs incurred in connection with the project financing. The remaining proceeds will be used to fund a portion of the costs to develop, construct and manage the Blackfin pipeline.

The Blackfin Credit Facilities can be voluntarily prepaid at any time without penalty.

***Interest expense on debt***

The following table presents the total interest expense incurred on debt and other instruments:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Stated interest | $582 | $503 | $1650 | $1375 |
| Amortization of debt discounts, premiums and issuance costs | 48 | 34 | 118 | 106 |
| Other interest and fees | 32 | 15 | 61 | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest cost | 662 | 552 | 1829 | 1536 |
| Capitalized interest | (241) | (424) | (822) | (1069) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense, net | $421 | $128 | $1007 | $467 |

---

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**Note 11 – Derivatives** 

*Interest rate swaps*

The Company has entered into interest rate swaps to mitigate its exposure to variability in interest payments associated with certain variable rate debt. None of the Company's interest rate swaps was designated as cash flow hedges as of September 30, 2025 or December 31, 2024.

During the nine months ended September 30, 2025, the Company settled a pro rata portion of the interest rate swaps associated with the Plaquemines Credit Facilities and received $869 million of cash proceeds. See *Note 10 – Debt* for further discussion.

The following table summarizes outstanding interest rate swaps:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Outstanding notional** | **Outstanding notional** |
| **Debt instrument** | **Latest maturity** | | **Receive<br>variable rate** | **Pay**<br>**fixed rate**<sup>(d)</sup> | **Maximum notional** | **September 30,<br>2025** | **December 31,<br>2024** |
| Plaquemines Credit Facilities | 2046 | <sup>(a)</sup> | Compounding SOFR | 2.46% | $4633 | $4633 | $8089 |
| Calcasieu Pass Credit Facilities | 2036 | <sup>(b)</sup> | Compounding SOFR | 2.56% | 831 | 831 | 969 |
| CP2 Credit Facilities | 2049 | <sup>(c)</sup> | Compounding SOFR | 4.04% | 9527 | 84 |  |
| &nbsp;&nbsp;&nbsp;Total notional |  |  |  |  | $14991 | $5548 | $9058 |

---

____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>Subject to mandatory early termination provisions under which certain interest rate swaps will settle at fair value in May 2029.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(b)</sup>Subject to mandatory early termination provisions under which certain interest rate swaps will settle at fair value in August 2026.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(c)</sup>Subject to mandatory early termination provisions under which certain interest rate swaps will settle at fair value in July 2032.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(d)</sup>Represents a weighted-average fixed rate based on the maximum notional.

*Natural gas supply contracts*

The Company has entered into natural gas supply contracts for the supply of feed gas to the Calcasieu Project and the Plaquemines Project. Those natural gas supply contracts not designated or qualifying as NPNS are recognized as either derivative assets or liabilities and measured at fair value. None of the Company's natural gas supply contracts was designated as NPNS as of September 30, 2025.

None of the Company's natural gas supply contracts was designated as hedges as of September 30, 2025 or December 31, 2024.

The following table summarizes outstanding natural gas supply contracts recognized as derivatives (notional amount in millions of MMBtus):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** |
| **Natural gas supply contracts** | **Total notional** | **Latest maturity** | **Total notional** | **Latest maturity** |
| Natural gas | 3365 | 2039 | 2048 | 2031 |

---

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

The following table summarizes the fair value and classification of derivatives on the condensed consolidated balance sheets:

---

| | | | |
|:---|:---|:---|:---|
| | **Balance sheet location** | **September 30,<br>2025** | **December 31,<br>2024** |
| **Assets** | | | |
| &nbsp;&nbsp;&nbsp;Interest rate swaps | Derivative assets | $70 | $150 |
| &nbsp;&nbsp;&nbsp;Natural gas supply contracts | Derivative assets | 20 | 4 |
| &nbsp;&nbsp;&nbsp;Interest rate swaps | Noncurrent derivative assets | 359 | 1459 |
| &nbsp;&nbsp;&nbsp;Natural gas supply contracts | Noncurrent derivative assets | 25 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets |  | $474 | $1636 |
| **Liabilities** |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest rate swaps | Accrued and other liabilities | $17 | $1 |
| &nbsp;&nbsp;&nbsp;Natural gas supply contracts | Accrued and other liabilities | 38 | 12 |
| &nbsp;&nbsp;&nbsp;Interest rate swaps | Other noncurrent liabilities | 242 | 2 |
| &nbsp;&nbsp;&nbsp;Natural gas supply contracts | Other noncurrent liabilities | 95 | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities |  | $392 | $27 |

---

The following table presents the pre-tax effects of derivative instruments recognized in earnings:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **Line item** | **2025** | **2024** | **2025** | **2024** |
| Natural gas supply contracts | Cost of sales | $(24) | $— | $91 | $— |
| Interest rate swaps | Gain (loss) on interest rate swaps | (144) | (480) | (448) | 70 |

---

The following table presents the gross and net fair value of outstanding derivatives:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Gross balance** | **Balance subject to netting** | **Net balance** | **Gross balance** | **Balance subject to netting** | **Net balance** |
| Derivative assets | $477 | $(3) | $474 | $1648 | $(12) | $1636 |
| Derivative liabilities | (395) | 3 | (392) | (39) | 12 | (27) |

---

**Credit-risk related contingent features**

*Interest rate swaps*

The interest rate swap agreements contain cross default provisions whereby if the Company were to default on certain indebtedness, it could also be declared in default on its derivative obligations and may be required to net settle the outstanding derivative liability positions with its counterparties. As of September 30, 2025, the Company had not posted any collateral related to these agreements and was not in breach of any agreement provisions. The aggregate fair value of the Company's interest rate swap derivative instruments with credit-risk related contingent features in a net liability position was $259 million as of September 30, 2025.

*Natural gas supply contracts*

Certain natural gas supply contracts contain credit risk-related contingent features which stipulate that if the Company's credit ratings were to change, it could be required to provide additional collateral. As of September 30, 2025, the Company would not be required to post any collateral related to these contracts if the credit-risk related

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

contingent features were triggered, as the delivery of the underlying commodity had not yet commenced. The aggregate fair value of the Company's natural gas supply contracts with credit-risk related contingent features in a net liability position was $62 million as of September 30, 2025.

**Note 12 – Fair Value Measurements** 

The following table presents financial assets and liabilities measured at fair value on a recurring basis and indicates their levels within the fair value hierarchy:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets** | | | | | | | | |
| &nbsp;&nbsp;Money market funds<sup>(a)</sup> | $347 | $— | $— | $347 | $1373 | $— | $— | $1373 |
| &nbsp;&nbsp;Interest rate swaps<sup>(b)</sup> |  | 429 |  | 429 |  | 1609 |  | 1609 |
| &nbsp;&nbsp;Natural gas supply contracts<sup>(b)</sup> |  | 1 | 47 | 48 |  |  | 39 | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $347 | $430 | $47 | $824 | $1373 | $1609 | $39 | $3021 |
| **Liabilities** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Interest rate swaps<sup>(c)</sup> | $— | $259 | $— | $259 | $— | $3 | $— | $3 |
| &nbsp;&nbsp;Natural gas supply contracts<sup>(c)</sup> |  | 15 | 121 | 136 |  | 3 | 33 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $— | $274 | $121 | $395 | $— | $6 | $33 | $39 |

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____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>Included in cash and cash equivalents on the condensed consolidated balance sheets.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(b)</sup>Included in derivative assets and noncurrent derivative assets on the condensed consolidated balance sheets.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(c)</sup>Included in accrued and other liabilities and other noncurrent liabilities on the condensed consolidated balance sheets.

*Interest rate swaps*

The fair values of the Company's interest rate swaps associated with the Plaquemines Credit Facilities, the Calcasieu Pass Credit Facilities, and the CP2 Credit Facilities are classified as Level 2 and determined using a discounted cash flow method that incorporates observable inputs. The fair value calculation includes a credit valuation adjustment and forward interest rate curves for the same periods of the future maturity dates of the interest rate swaps. For further discussion, see *Note 11 – Derivatives*.

*Level 3 unobservable inputs*

The Company values its natural gas supply contracts using an income or options-based approach. This incorporates present value techniques using a risk free rate of return, observable forward commodity price curves, and other significant unobservable inputs. Significant unobservable inputs include implied forward curves at illiquid delivery locations and, if an option pricing model is used, volatility assumptions derived from observed historical market data adjusted for evolving industry conditions and market trends as of the balance sheet date as well as counterparty credit risk adjustments.

Due to the uncertainty surrounding these inputs, certain natural gas supply contracts are classified as Level 3 in the fair value hierarchy. Changes in these inputs can have a significant impact on the valuation of the Company's natural gas supply contracts, which can result in a significantly higher or lower estimated fair value. See *Note 11 – Derivatives* for further discussion.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

The following table includes quantitative information for the unobservable inputs for Level 3 natural gas supply contracts as of September 30, 2025 (natural gas price amounts in dollars):

---

| | | | |
|:---|:---|:---|:---|
| **Valuation approach** | **Significant unobservable input** | **Range of significant unobservable input** | **Arithmetic average of significant unobservable input** |
| Discounted cash flow | Forward natural gas price per MMBtu<sup>(a)</sup> | $1.62 to $5.34 | $3.47 |
| Option pricing model | Volatility | 23.1% to 88.6% | 30.5% |

---

____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>&nbsp;&nbsp;&nbsp;&nbsp;At illiquid delivery locations.

The following table sets forth a reconciliation of changes in the fair value of derivative instruments measured at fair value on a recurring basis using Level 3 inputs for the three and nine months ended September 30, 2025. There were no derivative instruments measured at fair value using Level 3 inputs for the three and nine months ended September 30, 2024.

---

| | |
|:---|:---|
| | **Natural gas supply contracts** |
| Beginning balance as of July 1, 2025 | $(102) |
| &nbsp;&nbsp;Total realized and unrealized loss included in earnings |  |
| &nbsp;&nbsp;Settlements | 27 |
| &nbsp;&nbsp;Transfer out of Level 3 | 1 |
| Ending balance as of September 30, 2025 | $(74) |
| Unrealized gain included in earnings | $27 |

---

---

| | |
|:---|:---|
| | **Natural gas supply contracts** |
| Beginning balance as of January 1, 2025 | $6 |
| &nbsp;&nbsp;Total realized and unrealized loss included in earnings | (141) |
| &nbsp;&nbsp;Settlements | 60 |
| &nbsp;&nbsp;Transfer out of Level 3 | 1 |
| Ending balance as of September 30, 2025 | $(74) |
| Unrealized loss included in earnings | $(81) |

---

*Other financial instruments*

The following table presents the fair value of outstanding debt instruments in the condensed consolidated balance sheets:

---

| | | | |
|:---|:---|:---|:---|
| | **Level** | **September 30,<br>2025** | **December 31,<br>2024** |
| Fixed rate debt | 1 | $23314 | $16085 |
| Variable and other fixed rate debt<sup>(a)</sup> | 2 | 10993 | 13801 |

---

____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>&nbsp;&nbsp;&nbsp;&nbsp;Carrying value approximates estimated fair value.

**Note 13 – Income Taxes**

The Company's provision for income taxes is based on an estimated annual effective tax rate, plus discrete items. The Company's effective tax rate was 13.7% and 18.7% for the three and nine months ended September 30, 2025, respectively, and was different from the statutory income tax rate due to a combination of factors including stock option windfall tax benefits, non-deductible expenses, and valuation allowance adjustments caused by a change in the realizability of certain deferred tax assets.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

The Company's effective tax rate was 21.0% and 20.0% for the three and nine months ended September 30, 2024, respectively, and was different from the statutory income tax rate due to a combination of factors including guaranteed payments to non-controlling interests and non-deductible expenses.

As of September 30, 2025, VGLNG and Calcasieu Holdings, subsidiaries of the Company, were under exam by the Internal Revenue Service for the 2022 tax year.

In July 2025, the One Big Beautiful Bill Act ("the Act") was signed into law in the U.S. The Act contains several provisions related to corporate income taxes, including the extension of many expiring provisions from the Tax Cuts and Jobs Act of 2017 and modifications to the international tax framework. The changes introduced by the Act did not have a material impact on the Company's annual effective tax rate for 2025.

**Note 14 – Commitments and Contingencies**

*Litigation*

The Company is involved in certain claims, suits, and legal proceedings in the normal course of business. The Company accrues for litigation and claims when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. There can be no assurance that these accrued liabilities will be adequate to cover all existing and future claims or that the Company will have the liquidity to pay such claims as they arise.

Where no accrued liability has been recognized, it is reasonably possible that some matters could be decided unfavorably to the Company. This could require the Company to pay damages or make expenditures in amounts that could be material but could not be estimated as of September 30, 2025.

Disputes with certain customers under the Calcasieu Project's post-COD SPAs are accounted for under ASC 606, *Revenue from Contracts with Customers*. See *Note 3 – Revenue from Contracts with Customers* for discussion of certain disputes with customers.

*Credit arrangements*

The Company has entered into certain credit arrangements to secure the transportation of natural gas. As of September 30, 2025, the maximum undiscounted potential exposure associated with these arrangements was $110 million. This amount is not currently recognized as a liability on our condensed consolidated balance sheet. To date, no amounts have been drawn against these arrangements.

**Note 15 – Equity**

*IPO and related transactions*

On January 27, 2025, the Company completed its IPO in which it issued and sold 70 million shares of Class A common stock, par value $0.01, at a public offering price of $25.00 per share. The Company received proceeds of $1.7 billion, net of underwriting discounts and commissions of $70 million and offering expenses of $10 million.

In connection with the IPO, the Company effectuated an approximately 4,520.3317-for-one forward stock split of its Class A common stock. These condensed consolidated financial statements have been retrospectively adjusted to reflect the impact of the Stock Split of the Class A common stock. Subsequent to the Stock Split, and prior to the completion of the IPO, all shares of Class A common stock held by VG Partners, approximately 1.97 billion shares, were converted into an equal number of shares of Class B common stock.

Upon the effectiveness of the registration statement for the IPO, the Company's board of directors and stockholders adopted the Omnibus Incentive Plan, under which it granted stock options to purchase approximately 14 million shares of its Class A common stock with an exercise price of $25.00 per share to certain of its employees. The IPO

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

Grants have a 10-year contractual term and vest in equal quarterly installments over a four-year period. The total number of shares of Class A common stock authorized for issuance under the Omnibus Incentive Plan, including the IPO Grants, is approximately 172 million, and is subject to annual automatic evergreen increases thereafter.

*Preferred and common stock*

The Company's Class A common stock has one vote per share and its Class B common stock has ten votes per share. The par value of the Class A common stock and the Class B common stock is $0.01 per share. The following table summarizes the number of shares of the Company's preferred stock and common stock authorized for issuance:

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| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| Preferred stock | 200 | 1 |
| Class A common stock | 4,400 | 4,520 |
| Class B common stock | 3,000 | 1 |

---

*Dividends* 

On September 9, 2025, the Company's board of directors declared a dividend of $0.02 per share to holders of its outstanding common stock, which was paid on September 30, 2025 in the amount of $42 million.

In September 2024, the Company's board of directors declared the payment of cash dividends to holders of the Company's outstanding common stock in an aggregate amount of $160 million that were paid on a pro rata basis in four equal installments of $40 million over four consecutive calendar quarters on the last business day of each such calendar quarter, commencing on September 30, 2024.

**Note 16 – Redeemable Stock of Subsidiary** 

The following table summarizes the change in redeemable stock of subsidiary on the condensed consolidated balance sheets:

---

| | | |
|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** |
| | **2025** | **2024** |
| Beginning balance as of July 1 | $1606 | $1455 |
| &nbsp;&nbsp;Paid-in-kind distributions<sup>(a)</sup> | 44 | 37 |
| Ending balance as of September 30, 2025 | $1650 | $1492 |

---

---

| | | |
|:---|:---|:---|
| | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** |
| Beginning balance as of January 1 | $1529 | $1385 |
| &nbsp;&nbsp;Paid-in-kind distributions<sup>(a)</sup> | 121 | 107 |
| Ending balance as of September 30, 2025 | $1650 | $1492 |

---

____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>Presented as net income attributable to redeemable stock of subsidiary on the condensed consolidated statements of operations.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

On April 15, 2025, the Calcasieu Project declared COD. Following COD of the Calcasieu Project through August 19, 2027, no distributions of available cash are permitted from Calcasieu Funding to Venture Global or its affiliates until all accrued distributions on the CP Funding Redeemable Preferred Units have been fully settled in cash. Further, on and after August 19, 2027, no distributions of available cash will be permitted from Calcasieu Funding to Venture Global or its affiliates until the CP Funding Redeemable Preferred Units have been fully redeemed in cash. In this context, available cash means funds in excess of cash deemed necessary by management to fund the Calcasieu Project's operating costs, including debt service requirements, during the relevant period. As of September 30, 2025, the CP Funding Redeemable Preferred Units had a redemption value of $1.7 billion of which $750 million was related to accrued distributions.

**Note 17 – Non-Controlling Interests**

*VGLNG Series A Preferred Shares*

In September 2024, VGLNG, a direct controlled subsidiary of the Company, issued 3 million VGLNG Series A Preferred Shares which represent third-party ownership in the net assets of VGLNG and have a cumulative net balance of $2.9 billion. The annual dividend rate on the VGLNG Series A Preferred Shares is currently 9.000%. Cumulative cash dividends on the VGLNG Series A Preferred Shares are payable semiannually, in arrears, when, and if, declared by the VGLNG board of directors.

During the three and nine months ended September 30, 2025, the Company accumulated $67 million, or $22.50 per share, and $202 million, or $67.50 per share, respectively, of dividends on the VGLNG Series A Preferred Shares. During the three and nine months ended September 30, 2025, the Company declared and paid $135 million, or $45.00 per share, and $270 million, or $90.00 per share, respectively. The balance of accumulated but undeclared dividends was $1 million, or $0.25 per share and $68 million, or $22.75 per share, as of September 30, 2025 and December 31, 2024, respectively.

*Calcasieu Holdings*

In August 2019, Calcasieu Holdings, an indirect controlled subsidiary of the Company, issued the CP Holdings Convertible Preferred Units, which represent third-party ownership in the net assets of Calcasieu Holdings. Upon COD of the Calcasieu Project in April 2025, the CP Holdings Convertible Preferred Units converted into Class B common units of Calcasieu Holdings, equal to approximately 23% of the total outstanding common units of Calcasieu Holdings (the "Calcasieu Holdings Common Units"), reducing the Company's common equity interest in the Calcasieu Project to approximately 77%. Prior to COD, the CP Holdings Convertible Preferred Units paid a cumulative quarterly distribution recognized as net income attributable to non-controlling interests. Subsequent to COD, the Class B common units of Calcasieu Holdings are adjusted by the amount of earnings or other comprehensive income (loss) attributable to the Class B common unit ownership.

The following table summarizes the changes in the third-party ownership in the net assets of Calcasieu Holdings:

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| | | |
|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** |
| | **2025** | **2024** |
| Beginning balance as of July 1 | $572 | $575 |
| &nbsp;&nbsp;Net income attributable to non-controlling interests | 10 | 15 |
| &nbsp;&nbsp;Other comprehensive income | 1 |  |
| &nbsp;&nbsp;Distributions |  | (15) |
| Ending balance as of September 30, 2025 | $583 | $575 |

---

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

---

| | | |
|:---|:---|:---|
| | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** |
| Beginning balance as of January 1 | $575 | $575 |
| &nbsp;&nbsp;Net income attributable to non-controlling interests | 26 | 44 |
| &nbsp;&nbsp;Distributions | (18) | (44) |
| Ending balance as of September 30, 2025 | $583 | $575 |

---

**Note 18 – Earnings (Loss) per Share**

Earnings (Loss) per share is calculated using the two-class method and presented on a combined basis since the Class A common stock and the Class B common stock have identical rights and privileges, except for voting rights. The following table sets forth the computation of net income (loss) per share attributable to the Class A and the Class B common stock outstanding (amounts in millions, except per share amounts):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Net income (loss) | $550 | $(294) | $1542 | $756 |
| &nbsp;&nbsp;&nbsp;Less: Net income attributable to redeemable stock of subsidiary | 44 | 37 | 121 | 107 |
| &nbsp;&nbsp;&nbsp;Less: Net income attributable to non-controlling interests | 10 | 15 | 26 | 44 |
| &nbsp;&nbsp;&nbsp;Less: Dividends on VGLNG Series A preferred shares | 67 | 1 | 202 | 1 |
| Net income (loss) attributable to common stockholders | $429 | $(347) | $1193 | $604 |
| Weighted average shares of common stock outstanding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 2433 | 2350 | 2418 | 2350 |
| &nbsp;&nbsp;&nbsp;Dilutive stock options outstanding | 208 |  | 221 | 227 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 2641 | 2350 | 2639 | 2577 |
| Net income (loss) attributable to common stockholders per share—basic<sup>(a)</sup> | $0.18 | $(0.15) | $0.49 | $0.26 |
| Net income (loss) attributable to common stockholders per share—diluted<sup>(a)</sup> | $0.16 | $(0.15) | $0.45 | $0.23 |

---

____________

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>&nbsp;&nbsp;&nbsp;&nbsp;Earnings (Loss) per share may not recalculate exactly due to rounding.

As of September 30, 2025, 14 million outstanding stock options to purchase the Company's Class A common stock were excluded from the calculation of diluted net income attributable to common stockholders for the three and nine months ended September 30, 2025, because their effect would have been anti-dilutive.

As of September 30, 2024, 223 million and 1 million outstanding stock options to purchase the Company's Class A common stock were excluded from the calculation of diluted net income (loss) attributable to common stockholders for the three and nine months ended September 30, 2024, respectively, because their effect would have been anti-dilutive.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**Note 19 – Supplemental Cash Flow Information**

The following table sets forth supplemental disclosure of cash flow information:

---

| | | |
|:---|:---|:---|
| | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** |
| | **2025** | **2024** |
| Accrued purchases of property, plant and equipment | $1661 | $1863 |
| Cash paid for interest, net of amounts capitalized | 728 | 292 |
| Conversion of equity method investment to property, plant and equipment | 327 | 319 |
| Accrued dividends and distributions |  | 135 |
| Paid-in-kind distribution on redeemable stock of subsidiary | 121 | 107 |
| Right-of-use assets in exchange for new finance lease liabilities | 6 | 178 |
| Right-of-use assets in exchange for new operating lease liabilities | 224 | 180 |
| Asset retirement obligation additions | 17 | 56 |
| Cash paid for operating leases | 98 | 58 |
| Conversion of mitigation credits to property, plant and equipment | 30 |  |
| Accrued financing and issuance costs | 4 | 40 |
| Cash paid for income taxes | 1 | 9 |

---

**Note 20 – Segment Information**

The Company has multiple operating segments, including the Company's five LNG projects, its DS&S business, and its pipeline activities. Each LNG project operating segment includes activity of both the respective liquefaction facility and export terminal and the associated pipeline(s) that will supply the natural gas to that facility.

The Company has four reportable segments. Operating segments that are not quantitatively material for reporting purposes have been combined with corporate activities as corporate, other and eliminations. Activities reported in corporate, other and eliminations include immaterial operating segments, costs which are overhead in nature and not directly associated with the operating segments, including certain general and administrative and marketing expenses, and inter-segment eliminations. Prior period presentations have been recast to conform to the current segment reporting structure to separately disclose our DS&S business that is now quantitatively material.

The following tables present financial information by segment, including significant segment expenses regularly provided to the CODM, and a reconciliation of segment income (loss) from operations to income (loss) before income tax expense on the condensed consolidated statements of operations for the periods indicated.

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended September 30, 2025** | **Three months ended September 30, 2025** | **Three months ended September 30, 2025** | **Three months ended September 30, 2025** | **Three months ended September 30, 2025** | **Three months ended September 30, 2025** |
| | **Calcasieu <br>Project** | **Plaquemines Project** | **CP2 <br>Project** | **DS&S** | **Corporate, other and eliminations** | **Total** |
| Revenue | $711 | $2525 | $— | $688 | $(595) | $3329 |
| Operating expense |  |  |  |  |  |  |
| &nbsp;&nbsp;Cost of sales | 463 | 973 |  | 556 | (604) | 1388 |
| &nbsp;&nbsp;Operating and maintenance expense | 82 | 99 | 10 | 61 | (7) | 245 |
| &nbsp;&nbsp;General and administrative expense | 3 | 16 | 13 | 2 | 71 | 105 |
| &nbsp;&nbsp;Development expense |  | 13 | 22 |  | 18 | 53 |
| &nbsp;&nbsp;Depreciation and amortization | 46 | 142 |  | 13 | 17 | 218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expense | 594 | 1243 | 45 | 632 | (505) | 2009 |
| Income (loss) from operations | $117 | $1282 | $(45) | $56 | $(90) | $1320 |
| &nbsp;&nbsp;Interest income |  |  |  |  |  | 27 |
| &nbsp;&nbsp;Interest expense, net |  |  |  |  |  | (421) |
| &nbsp;&nbsp;Loss on interest rate swaps |  |  |  |  |  | (144) |
| &nbsp;&nbsp;Loss on financing transactions |  |  |  |  |  | (141) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on foreign currency <br>transactions |  |  |  |  |  | (4) |
| Income before income tax expense |  |  |  |  |  | $637 |

---

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended September 30, 2024** | **Three months ended September 30, 2024** | **Three months ended September 30, 2024** | **Three months ended September 30, 2024** | **Three months ended September 30, 2024** | **Three months ended September 30, 2024** |
| | **Calcasieu <br>Project** | **Plaquemines Project** | **CP2 <br>Project** | **DS&S** | **Corporate, other and eliminations** | **Total** |
| Revenue | $1024 | $— | $— | $29 | $(127) | $926 |
| Operating expense |  |  |  |  |  |  |
| &nbsp;&nbsp;Cost of sales | 297 |  |  | 28 | (53) | 272 |
| &nbsp;&nbsp;Operating and maintenance expense | 105 | 26 |  | 26 | (14) | 143 |
| &nbsp;&nbsp;General and administrative expense | 4 | 16 | 4 | 5 | 48 | 77 |
| &nbsp;&nbsp;Development expense | 1 | 14 | 101 |  | 40 | 156 |
| &nbsp;&nbsp;Depreciation and amortization | 77 | 1 | 1 | 5 | 5 | 89 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expense | 484 | 57 | 106 | 64 | 26 | 737 |
| Income (loss) from operations | $540 | $(57) | $(106) | $(35) | $(153) | $189 |
| &nbsp;&nbsp;Interest income |  |  |  |  |  | 53 |
| &nbsp;&nbsp;Interest expense, net |  |  |  |  |  | (128) |
| &nbsp;&nbsp;Loss on interest rate swaps |  |  |  |  |  | (480) |
| &nbsp;&nbsp;Loss on financing transactions |  |  |  |  |  | (6) |
| Loss before income tax expense |  |  |  |  |  | $(372) |

---

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** |
| | **Calcasieu <br>Project** | **Plaquemines Project** | **CP2 <br>Project** | **DS&S** | **Corporate, other and eliminations** | **Total** |
| Revenue | $3284 | $5806 | $1 | $1657 | $(1424) | $9324 |
| Operating expense |  |  |  |  |  |  |
| &nbsp;&nbsp;Cost of sales | 1595 | 2395 |  | 1317 | (1441) | 3866 |
| &nbsp;&nbsp;Operating and maintenance expense | 300 | 264 | 10 | 157 | (17) | 714 |
| &nbsp;&nbsp;General and administrative expense | 11 | 47 | 34 | 4 | 217 | 313 |
| &nbsp;&nbsp;Development expense |  | 32 | 193 |  | 67 | 292 |
| &nbsp;&nbsp;Depreciation and amortization | 176 | 450 |  | 27 | 48 | 701 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expense | 2082 | 3188 | 237 | 1505 | (1126) | 5886 |
| Income (loss) from operations | $1202 | $2618 | $(236) | $152 | $(298) | $3438 |
| &nbsp;&nbsp;Interest income |  |  |  |  |  | 121 |
| &nbsp;&nbsp;Interest expense, net |  |  |  |  |  | (1007) |
| &nbsp;&nbsp;Loss on interest rate swaps |  |  |  |  |  | (448) |
| &nbsp;&nbsp;Loss on financing transactions |  |  |  |  |  | (204) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on foreign currency <br>transactions |  |  |  |  |  | (4) |
| Income before income tax expense |  |  |  |  |  | $1896 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Nine months ended September 30, 2024** | **Nine months ended September 30, 2024** | **Nine months ended September 30, 2024** | **Nine months ended September 30, 2024** | **Nine months ended September 30, 2024** | **Nine months ended September 30, 2024** |
| | **Calcasieu <br>Project** | **Plaquemines Project** | **CP2 <br>Project** | **DS&S** | **Corporate, other and eliminations** | **Total** |
| Revenue | $3546 | $— | $— | $29 | $(127) | $3448 |
| Operating expense |  |  |  |  |  |  |
| &nbsp;&nbsp;Cost of sales | 964 |  |  | 28 | (55) | 937 |
| &nbsp;&nbsp;Operating and maintenance expense | 296 | 73 |  | 28 | (19) | 378 |
| &nbsp;&nbsp;General and administrative expense | 11 | 47 | 12 | 13 | 141 | 224 |
| &nbsp;&nbsp;Development expense | 5 | 41 | 383 | 1 | 81 | 511 |
| &nbsp;&nbsp;Depreciation and amortization | 204 | 2 | 1 | 5 | 17 | 229 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expense | 1480 | 163 | 396 | 75 | 165 | 2279 |
| Income (loss) from operations | $2066 | $(163) | $(396) | $(46) | $(292) | $1169 |
| &nbsp;&nbsp;Interest income |  |  |  |  |  | 187 |
| &nbsp;&nbsp;Interest expense, net |  |  |  |  |  | (467) |
| &nbsp;&nbsp;Gain on interest rate swaps |  |  |  |  |  | 70 |
| &nbsp;&nbsp;Loss on financing transactions |  |  |  |  |  | (14) |
| Income before income tax expense |  |  |  |  |  | $945 |

---

------

<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Capital expenditures** | **Capital expenditures** | **Total assets** | **Total assets** |
| | **Nine months ended September 30,** | **Nine months ended September 30,** | **September 30,** | **December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| &nbsp;&nbsp;Calcasieu Project | $72 | $184 | $6830 | $7181 |
| &nbsp;&nbsp;Plaquemines Project | 4783 | 7077 | 26285 | 24627 |
| &nbsp;&nbsp;CP2 Project | 2835 | 1386 | 8684 | 3643 |
| &nbsp;&nbsp;DS&S | 545 | 97 | 2115 | 1473 |
| &nbsp;&nbsp;Corporate, other and eliminations | 1569 | 1512 | 6165 | 6567 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $9804 | $10256 | $50079 | $43491 |

---

**Note 21 – Recent Accounting Pronouncements**

The following table provides a description of recently issued accounting pronouncements that have not yet been adopted as of September 30, 2025. Accounting pronouncements not listed below were assessed and determined to not have a material impact to the condensed consolidated financial statements.

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| | | |
|:---|:---|:---|
| **Standard** | **Description** | **Effect on the Company's condensed consolidated financial statements** |
| ASU 2023-09, *Income Taxes (Topic 740)* | In December 2023, the FASB issued ASU 2023-09, which enhances tax-related disclosures by requiring public business entities to disclose a tabular reconciliation, using both percentages and amounts, broken into specific categories with certain reconciling items at or above 5% of the statutory (i.e., expected) tax, further broken out by nature and/or jurisdiction; for all other entities, qualitative disclosure of the nature and effect of significant reconciling items by specific categories and individual jurisdictions; and income taxes paid (net of refunds received), broken out between federal (national), state/local and foreign, and amounts paid to an individual jurisdiction when 5% or more of the total income taxes paid. <br>The standard is effective for fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025. Early adoption is permitted. The standard should be applied on a prospective basis, and retrospective application is permitted. | The Company is currently evaluating the impact on the financial statement disclosures. |
| ASU 2024-03, *Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)* | In November 2024, the FASB issued ASU 2024-03, which enhances income statement disclosures. This requires public business entities to provide a tabular disclosure of relevant expense captions disaggregated into categories such as purchases of inventory, employee compensation, depreciation, intangible asset amortization, and amounts that are already required to be disclosed under current GAAP, a qualitative description of the amounts remaining in the relevant expense captions that are not separately disaggregated and the total amount of selling expenses and, in annual periods, an entity's definition of selling expenses. <br>The standard is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The standard should be applied on a prospective basis, and retrospective application is permitted. | The Company is currently evaluating the impact on the financial statement disclosures.  |

---

**Note 22 – Subsequent Events**

In October 2025, the Company was notified that a partial final award had been issued in the arbitration proceedings with BP. See *Note 3 – Revenue from Contracts with Customers* for further discussion.

On November 7, 2025, VGLNG entered into a revolving credit agreement (the "Credit Agreement"). The Credit Agreement provides for a senior secured revolving credit facility (the "VGLNG Facility") under which VGLNG may borrow up to $2.0 billion with the option to increase the commitments or establish one or more incremental term facilities under the Credit Agreement in an amount that, together with all loans and unfunded commitments outstanding under the Credit Agreement, shall not exceed 7.500% of the consolidated total assets of VGLNG. The Credit Agreement and all borrowings thereunder will mature on November 7, 2030. The potential proceeds from

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<u>[Table of contents](#i8663892622c74fa088d0b8333ce09ea9_7)</u>

**VENTURE GLOBAL, INC.** 

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

future borrowings under the VGLNG Facility are available to be used for general corporate purposes of VGLNG and its subsidiaries. No borrowings were made under the VGLNG Facility on the signing date.

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**ITEM 2. &nbsp;&nbsp;&nbsp;&nbsp;MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

The condensed consolidated financial statements and the accompanying notes thereto, included in <u>[Item 1.—](#i8663892622c74fa088d0b8333ce09ea9_19)</u>*<u>[Financial Statements](#i8663892622c74fa088d0b8333ce09ea9_19)</u>* of this Form 10-Q, and discussion and analysis of our financial condition and results of operations should be read in conjunction with our 2024 Form 10-K. In addition to historical condensed consolidated financial information, this Form 10-Q contains forward-looking statements that reflect our plans, estimates, and beliefs that involve significant risks and uncertainties. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to those differences include those discussed below and in the Cautionary Statement on Forward Looking Statements in this Form 10-Q and elsewhere in Item 1A.—*Risk Factors* of our 2024 Form 10-K. Except for per share, per MMBtu, volumetric amounts, or as otherwise specified, dollar amounts presented within tables are stated in millions.

**Executive Summary**

**Our Financial Results***.* 

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended September 30,** | **Three months ended September 30,** | **Nine months ended September 30,** | **Nine months ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Income from operations | $1320 | $189 | $3438 | $1169 |
| LNG volumes exported |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cargos | 100 | 31 | 252 | 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;TBtu | 371.8 | 110.4 | 936.3 | 384.0 |
| LNG volumes sold (TBtu) | 373.0 | 100.0 | 930.5 | 373.0 |
| Weighted average price of LNG volumes sold (per MMBtu) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed liquefaction fee | $5.38 | $6.67 | $6.23 | $6.76 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commodity fee | 3.54 | 2.54 | 3.86 | 2.44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted average price of LNG volumes sold | $8.92 | $9.21 | $10.09 | $9.20 |

---

Our income from operations for the three months ended September 30, 2025 increased compared to the corresponding period in the prior year primarily due to higher sales volumes at our Plaquemines Project from the commencement of LNG production in December 2024 and continued ramp up of LNG production during 2025, partially offset by lower weighted average LNG sales prices at the Calcasieu Project due to the commencement of LNG sales under its post-COD SPAs and the higher cost of feed gas.

Our income from operations for the nine months ended September 30, 2025 increased compared to the corresponding period in the prior year primarily due to higher sales volumes at our Plaquemines Project from the commencement of LNG production in December 2024 and continued ramp up of LNG production during 2025 and higher weighted average LNG sales prices at the Calcasieu Project prior to COD in April 2025 offset by lower LNG sales prices after COD in April 2025, partially offset by the higher cost of feed gas.

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**Our LNG Projects**

***Calcasieu Project***. Our initial LNG export facility declared COD and commenced the sale of LNG to its customers under our post-COD SPAs on April 15, 2025. Prior to COD, the Calcasieu Project sold LNG under LNG Commissioning Sales Agreements. In August 2025, the DOE approved our request to increase the authorized level of LNG exports from the Calcasieu Project to Non-FTA Nations from 12.0 mtpa to 12.4 mtpa.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Calcasieu Project** | **Calcasieu Project** | **Calcasieu Project** | **Calcasieu Project** |
| | **Three months ended September 30,** | **Three months ended September 30,** | **Nine months ended September 30,** | **Nine months ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| LNG volumes exported |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cargos | 36 | 31 | 108 | 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;TBtu | 133.0 | 110.4 | 399.2 | 384.0 |
| LNG volumes sold (TBtu) | 133.0 | 111.1 | 398.4 | 384.1 |
| Weighted average price of LNG volumes sold (per MMBtu) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed liquefaction fee | $1.76 | $6.67 | $4.29 | $6.76 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commodity fee | 3.53 | 2.51 | 3.90 | 2.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted average price of LNG volumes sold | $5.29 | $9.18 | $8.19 | $9.19 |

---

***Plaquemines Project***. Production and sales of LNG from our second LNG export facility increased during the period while physical construction and the commissioning program of the project continued to advance. During the nine months ended September 30, 2025, we incurred $3.3 billion of project costs, the majority of which were capitalized, and we placed an additional $11.7 billion of assets in service in accordance with the applicable accounting guidance.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Plaquemines Project** | **Plaquemines Project** | **Plaquemines Project** | **Plaquemines Project** |
| | **Three months ended September 30,** | **Three months ended September 30,** | **Nine months ended September 30,** | **Nine months ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| LNG volumes exported |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cargos | 64 |  | 144 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;TBtu | 238.8 |  | 537.1 |  |
| LNG volumes sold (TBtu) | 245.6 |  | 543.8 |  |
| Weighted average price of LNG volumes sold (per MMBtu) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed liquefaction fee | $6.79 | $— | $6.99 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Commodity fee | 3.52 |  | 3.82 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted average price of LNG volumes sold | $10.31 | $— | $10.81 | $— |

---

***CP2 Project***. In June 2025, we commenced site work on the first phase of our third LNG export facility, following receipt of final approval and notices to proceed with on-site construction from the FERC. In October 2025, CP2 received the final authorization from the DOE to export LNG to Non-FTA Nations. During the nine months ended September 30, 2025, we incurred $4.0 billion of project costs primarily associated with equipment procurement, off-site manufacturing work, and engineering and design, of which $3.8 billion was capitalized and $193 million was expensed.

In April 2025 and July 2025, CP2 entered into two SPAs for an additional 3.0 mtpa of LNG and increased the volumes sold under two existing SPAs by a combined 1.25 mtpa of LNG, increasing the total mtpa contracted for sale from the CP2 Project under long term post-COD SPAs from 9.25 mtpa as of December 31, 2024 to 13.5 mtpa of LNG as of September 30, 2025.

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**Our Strategic Developments***.* We took delivery of the Venture Acadia, Venture Creole, and Venture Pelican LNG tankers during the nine months ended September 30, 2025. This brought our total owned fleet of LNG tankers to five with an additional four LNG tankers that we have contracted to construct. In 2025, we used our LNG tankers to transport 38 cargos from our LNG facilities.

In April 2025, the FERC approved our request to enter into the FERC's pre-filing environmental review process for the planned additional facilities at the Plaquemines Project for 18.6 mtpa of incremental bolt-on expansion peak production capacity (the "Plaquemines Expansion Project"). In May 2025, we submitted a request to the FERC to increase the capacity for the Plaquemines Expansion Project from 18.6 mtpa to 24.8 mtpa. In June 2025, we withdrew our Delta Project from the FERC pre-filing environmental review process to focus on the Plaquemines Expansion Project.

In November 2025, we entered into a 20-year SPA with Naturgy of Spain for the sale of 1.0 mtpa of LNG from the second phase of the CP2 Project. Additionally, we entered into a 20-year SPA with Atlantic-SEE LNG Trade of Greece for the sale of a minimum of 0.5 mtpa of LNG commencing in 2030.

**Our Sources of Capital**. In January 2025, we completed our IPO, issuing 70 million shares of our Class A common stock at a public offering price of $25.00 per share for total net proceeds of $1.7 billion. In connection with the IPO, we effectuated a 4,520.3317-for-one forward stock split of our Class A common stock.

In April 2025 and July 2025, VGPL issued $2.5 billion and $4.0 billion, respectively, of aggregate senior secured notes, and concurrently settled a pro rata portion of its interest rate swaps for aggregate cash proceeds of $869 million. Net proceeds from these issuances and the swap breakage proceeds were used to prepay $7.2 billion of principal outstanding under the Plaquemines Construction Term Loan.

In May 2025, CP2 entered into the CP2 Bridge Facilities totaling $3.0 billion. The net proceeds from the CP2 Bridge Facilities were used to fund a portion of the development and construction costs, including interest, of the CP2 Project prior to closing the full project debt and equity financing for the first phase of the CP2 Project.

In July 2025, the first phase of the CP2 Project achieved FID. We obtained $15.1 billion in project financing to fund the development and construction of the first phase of the CP2 Project. A portion of the proceeds from the project financing were used to prepay the outstanding CP2 Bridge Facilities in full and pay costs incurred in connection with the project financing. The remaining proceeds from the project financing will be used to fund the costs of financing, developing, constructing, and placing in service the first phase of the CP2 Project.

In September 2025, Blackfin entered into the Blackfin Credit Facilities totaling $1.6 billion. Proceeds from the Blackfin Credit Facilities were used to reimburse $859 million to VGLNG for prior expenditures related to the development and construction of the Blackfin pipeline, and pay certain costs incurred in connection with the project financing. The remaining proceeds will be used to fund a portion of the costs to develop, construct and manage the Blackfin pipeline.

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**Results of Operations**

***Three months ended September 30, 2025 compared to three months ended September 30, 2024***

The following table shows a summary of our results of operations for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** | **Change** | **Change** |
| | **2025** | **2024** | **($)** | **(%)** |
| **REVENUE** | $3329 | $926 | $2403 | 260% |
| **OPERATING EXPENSE** |  |  |  |  |
| &nbsp;&nbsp;Cost of sales (exclusive of depreciation and amortization shown separately below) | 1388 | 272 | 1116 | NM |
| &nbsp;&nbsp;Operating and maintenance expense | 245 | 143 | 102 | 71% |
| &nbsp;&nbsp;General and administrative expense | 105 | 77 | 28 | 36% |
| &nbsp;&nbsp;Development expense | 53 | 156 | (103) | (66)% |
| &nbsp;&nbsp;Depreciation and amortization | 218 | 89 | 129 | 145% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expense | 2009 | 737 | 1272 | 173% |
| **INCOME FROM OPERATIONS** | 1320 | 189 | 1131 | NM |
| **OTHER INCOME (EXPENSE)** |  |  |  |  |
| &nbsp;&nbsp;Interest income | 27 | 53 | (26) | (49)% |
| &nbsp;&nbsp;Interest expense, net | (421) | (128) | (293) | 229% |
| &nbsp;&nbsp;Loss on interest rate swaps | (144) | (480) | 336 | (70)% |
| &nbsp;&nbsp;Loss on financing transactions | (141) | (6) | (135) | NM |
| &nbsp;&nbsp;Loss on foreign currency transactions | (4) |  | (4) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other income (expense), net | (683) | (561) | (122) | 22% |
| **INCOME (LOSS) BEFORE INCOME TAX EXPENSE<br> (BENEFIT)** | 637 | (372) | 1009 | NM |
| &nbsp;&nbsp;Income tax expense (benefit) | 87 | (78) | 165 | NM |
| **NET INCOME (LOSS)** | 550 | (294) | 844 | NM |
| &nbsp;&nbsp;Less: Net income attributable to redeemable stock of subsidiary | 44 | 37 | 7 | 19% |
| &nbsp;&nbsp;Less: Net income attributable to non-controlling interests | 10 | 15 | (5) | (33)% |
| &nbsp;&nbsp;Less: Dividends on VGLNG Series A Preferred Shares | 67 | 1 | 66 | NM |
| &nbsp;&nbsp;**NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS** | $429 | $(347) | $776 | NM |

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____________

NM&nbsp;&nbsp;&nbsp;&nbsp;Percentage not meaningful.

***Revenue***

Revenue was $3.3 billion for the three months ended September 30, 2025, a $2.4 billion, or 260%, increase from $926 million for the three months ended September 30, 2024. This increase was primarily due to $2.9 billion from higher LNG sales volumes, primarily at the Plaquemines Project. All of the Calcasieu Project facility assets and a portion of the Plaquemines Project facility assets were in service from an accounting perspective and generating revenue for the three months ended September 30, 2025, as compared to only the Calcasieu Project facility assets being in service from an accounting perspective and therefore generating revenue for the three months ended September 30, 2024. This increase was partially offset by lower LNG sales prices of $517 million at the Calcasieu Project due to the commencement of LNG sales under its post-COD SPAs in April 2025.

------

The gross proceeds, before deducting the cost of natural gas, attributable to Test LNG sales generated prior to the Plaquemines Project facilities being in service from an accounting perspective, and therefore recognized as an adjustment to construction in progress and not as revenue, were $18 million for the three months ended September 30, 2025.

***Operating Expense***

*Cost of Sales*

Cost of sales was $1.4 billion for the three months ended September 30, 2025, a $1.1 billion increase from $272 million for the three months ended September 30, 2024. This increase was primarily due to $1.0 billion from higher LNG sales volumes, primarily at the Plaquemines Project. All of the Calcasieu Project facility assets and a portion of the Plaquemines Project facility assets were in service from an accounting perspective and incurring cost of sales for the three months ended September 30, 2025, as compared to only the Calcasieu Project facility assets being in service from an accounting perspective for the three months ended September 30, 2024. Cost of sales further increased $128 million due to higher costs for the purchase of feed gas at the Calcasieu Project. These increases were partially offset by a $24 million favorable change in the fair value of our natural gas supply contracts.

The costs attributable to the production of Test LNG sales, primarily consisting of the cost of feed gas, incurred prior to the Plaquemines Project facilities being in service from an accounting perspective, and therefore recognized as an adjustment to construction in progress and not as cost of sales, was $7 million for the three months ended September 30, 2025.

*Operating and Maintenance Expense*

Operating and maintenance expense was $245 million for the three months ended September 30, 2025, a $102 million, or 71%, increase from $143 million for the three months ended September 30, 2024. This increase was primarily due to $73 million in higher operating costs in support of the ramp up of LNG production at the Plaquemines Project primarily due to an increase in non-capitalizable personnel costs, commissioning work, and operational insurance costs, as well as a $35 million increase in operating costs primarily for our LNG tankers. These were partially offset by a decrease of $23 million in operating costs at the Calcasieu Project primarily due to lower commissioning and remediation work and legal costs.

*General and Administrative Expense*

General and administrative expense was $105 million for the three months ended September 30, 2025, a $28 million, or 36%, increase from $77 million for the three months ended September 30, 2024. This increase was primarily due to increased personnel costs of $14 million due to compensation increases and higher employee headcount.

*Development Expense*

Development expense was $53 million for the three months ended September 30, 2025, a $103 million, or 66%, decrease from $156 million for the three months ended September 30, 2024. This decrease was primarily due to lower development costs that were expensed of $79 million for the CP2 Project, which was deemed probable during the nine months ended September 30, 2025, and $26 million for our pipeline infrastructure projects primarily related to the Blackfin pipeline, which was deemed probable in the second half of 2024, resulting in the capitalization of more of the costs for the projects.

*Depreciation and Amortization* 

Depreciation and amortization was $218 million for the three months ended September 30, 2025, a $129 million, or 145%, increase from $89 million for the three months ended September 30, 2024. This increase was primarily attributable to an increase of $141 million due to placing $23.2 billion of property, plant and equipment at the Plaquemines Project in service from an accounting perspective as of September 30, 2025 compared to no

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Plaquemines Project assets being depreciated as of September 30, 2024. This increase was partially offset by a decrease of $31 million at the Calcasieu Project primarily due to an extension of the estimated useful lives of certain LNG facility assets in 2025.

***Income from Operations***

Income from operations was $1.3 billion for the three months ended September 30, 2025, a $1.1 billion increase from $189 million for the three months ended September 30, 2024. This increase was primarily the result of higher sales volumes, primarily at the Plaquemines Project, and decreased development expense, partially offset by lower weighted average LNG sales prices at the Calcasieu Project subsequent to COD in April 2025, higher cost of feed gas, and higher depreciation expense, as discussed above.

***Other Income or Expense***

*Interest Income*

Interest income was $27 million for the three months ended September 30, 2025, a $26 million, or 49%, decrease from $53 million for the three months ended September 30, 2024. This decrease was primarily due to lower average cash balances and interest rates during the three months ended September 30, 2025, compared to the same period in 2024.

*Interest Expense, Net*

Interest expense, net was $421 million for the three months ended September 30, 2025, a $293 million, or 229%, increase from $128 million for the three months ended September 30, 2024. This increase was primarily due to higher non-capitalizable interest costs due to placing a portion of the Plaquemines Project assets in service in accordance with the applicable accounting guidance and an increase in our outstanding debt.

*Loss on Interest Rate Swaps*

Loss on interest rate swaps was $144 million for the three months ended September 30, 2025, a $336 million, or 70%, decrease from $480 million for the three months ended September 30, 2024. This decrease was primarily due to smaller decreases in the forward interest rate curves during the three months ended September 30, 2025, as compared to the same period in 2024, resulting in the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a $467 million favorable change on the Plaquemines Project interest rate swaps, which were partially settled during the three months ended September 30, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a $21 million favorable change on the Calcasieu Project interest rate swaps; partially offset by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a loss of $153 million on the CP2 Project interest rate swaps, which were entered into in 2025.

*Loss on Financing Transactions*

Loss on financing transactions was $141 million for the three months ended September 30, 2025, a $135 million increase from $6 million for the three months ended September 30, 2024. This increase was due to the write-off of debt issuance costs associated with the partial prepayment of the Plaquemines Construction Term Loan and the prepayment of CP2 Bridge Facilities during the three months ended September 30, 2025, as compared to the write-off of debt issuance costs associated with the full prepayment of the Plaquemines Equity Bridge Facility during the three months ended September 30, 2024.

*Loss on Foreign Currency Transactions*

Loss on foreign currency transactions was $4 million for the three months ended September 30, 2025.

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***Income (Loss) before Income Tax Expense (Benefit)***

Income before income tax expense was $637 million for the three months ended September 30, 2025, a $1.0 billion increase from a loss before income tax benefit of $372 million for the three months ended September 30, 2024. This increase was primarily the result of higher income from operations and a favorable change in the fair value of interest rate swaps, partially offset by higher interest expense and loss on financing transactions, as discussed above.

*Income Tax Expense (Benefit)*

Income tax expense was $87 million for the three months ended September 30, 2025, a $165 million increase from an income tax benefit of $78 million for the three months ended September 30, 2024. This was primarily driven by an increase in income before income tax expense, discussed above. Our effective tax rate was 13.7% for the three months ended September 30, 2025, as compared to 21.0% for the three months ended September 30, 2024. The 2025 effective tax rate was different from the statutory income tax rate primarily due to the recognition of stock option windfall tax benefits.

***Net Income (Loss)***

Net income was $550 million for the three months ended September 30, 2025, a $844 million increase from a net loss of $294 million for the three months ended September 30, 2024. This increase was primarily the result of an increase in income before income tax expense, partially offset by higher income tax expense, as discussed above.

*Net Income Attributable to Redeemable Stock of Subsidiary* 

Net income attributable to redeemable stock of subsidiary was $44 million for the three months ended September 30, 2025, a $7 million, or 19%, increase from $37 million for the three months ended September 30, 2024. This increase was from higher paid-in-kind distributions on the CP Funding Redeemable Preferred Units.

*Net Income Attributable to Non-controlling Interests* 

Net income attributable to non-controlling interests was $10 million for the three months ended September 30, 2025, a $5 million, or 33%, decrease from $15 million for the three months ended September 30, 2024. This decrease was primarily due to the allocation of earnings to the Calcasieu Holdings Class B common unit holders based on ownership interests subsequent to COD of the Calcasieu Project.

*Dividends on VGLNG Series A Preferred Shares* 

Dividends on VGLNG Series A Preferred Shares were $67 million for the three months ended September 30, 2025, a $66 million increase from $1 million for the three months ended September 30, 2024. This increase was due to the issuance of the VGLNG Series A Preferred Shares in late September 2024 and the corresponding difference in the accumulation of dividends.

***Net Income (Loss) Attributable to Common Stockholders***

Net income attributable to common stockholders was $429 million for the three months ended September 30, 2025, a $776 million increase from a net loss attributable to common stockholders of $347 million for the three months ended September 30, 2024. This increase was primarily the result of the changes discussed above.

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***Nine months ended September 30, 2025 compared to nine months ended September 30, 2024***

The following table shows a summary of our results of operations for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Nine months ended<br>September 30,** | **Nine months ended<br>September 30,** | **Change** | **Change** |
| | **2025** | **2024** | **($)** | **(%)** |
| **REVENUE** | $9324 | $3448 | $5876 | 170% |
| **OPERATING EXPENSE** |  |  |  |  |
| &nbsp;&nbsp;Cost of sales (exclusive of depreciation and amortization shown separately below) | 3866 | 937 | 2929 | NM |
| &nbsp;&nbsp;Operating and maintenance expense | 714 | 378 | 336 | 89% |
| &nbsp;&nbsp;General and administrative expense | 313 | 224 | 89 | 40% |
| &nbsp;&nbsp;Development expense | 292 | 511 | (219) | (43)% |
| &nbsp;&nbsp;Depreciation and amortization | 701 | 229 | 472 | 206% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expense | 5886 | 2279 | 3607 | 158% |
| **INCOME FROM OPERATIONS** | 3438 | 1169 | 2269 | 194% |
| **OTHER INCOME (EXPENSE)** |  |  |  |  |
| &nbsp;&nbsp;Interest income | 121 | 187 | (66) | (35)% |
| &nbsp;&nbsp;Interest expense, net | (1007) | (467) | (540) | 116% |
| &nbsp;&nbsp;Gain (loss) on interest rate swaps | (448) | 70 | (518) | NM |
| &nbsp;&nbsp;Loss on financing transactions | (204) | (14) | (190) | NM |
| &nbsp;&nbsp;Loss on foreign currency transactions | (4) |  | (4) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other income (expense), net | (1542) | (224) | (1318) | NM |
| **INCOME BEFORE INCOME TAX EXPENSE** | 1896 | 945 | 951 | 101% |
| &nbsp;&nbsp;Income tax expense | 354 | 189 | 165 | 87% |
| **NET INCOME**  | 1542 | 756 | 786 | 104% |
| &nbsp;&nbsp;Less: Net income attributable to redeemable stock of subsidiary | 121 | 107 | 14 | 13% |
| &nbsp;&nbsp;Less: Net income attributable to non-controlling interests | 26 | 44 | (18) | (41)% |
| &nbsp;&nbsp;Less: Dividends on VGLNG Series A Preferred Shares | 202 | 1 | 201 | NM |
| &nbsp;&nbsp;**NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS** | $1193 | $604 | $589 | 98% |

---

____________

NM&nbsp;&nbsp;&nbsp;&nbsp;Percentage not meaningful.

***Revenue***

Revenue was $9.3 billion for the nine months ended September 30, 2025, a $5.9 billion, or 170%, increase from $3.4 billion for the nine months ended September 30, 2024. This increase was primarily due to $6.2 billion from higher LNG sales volumes, primarily at the Plaquemines Project. All of the Calcasieu Project facility assets and a portion of the Plaquemines Project facility assets were in service from an accounting perspective and generating revenue for the nine months ended September 30, 2025, as compared to only the Calcasieu Project facility assets being in service from an accounting perspective and therefore generating revenue for the nine months ended September 30, 2024. This increase was partially offset by lower LNG sales prices of $398 million at the Calcasieu Project after COD in April 2025, partially offset by higher LNG sales prices prior to COD in April 2025.

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The gross proceeds, before deducting the cost of natural gas, attributable to Test LNG sales generated prior to the Plaquemines Project facilities being in service from an accounting perspective, and therefore recognized as an adjustment to construction in progress and not as revenue, were $120 million for the nine months ended September 30, 2025.

***Operating Expense***

*Cost of Sales*

Cost of sales was $3.9 billion for the nine months ended September 30, 2025, a $2.9 billion increase from $937 million for the nine months ended September 30, 2024. This increase was due to $2.3 billion from higher LNG sales volumes, primarily at the Plaquemines Project. All of the Calcasieu Project facility and a portion of the Plaquemines Project facility assets were in service from an accounting perspective and incurring cost of sales for the nine months ended September 30, 2025, as compared to only the Calcasieu Project being in service from an accounting perspective for the nine months ended September 30, 2024. Cost of sales further increased $568 million due to higher costs for the purchase of feed gas at the Calcasieu Project and a $91 million unfavorable change in the fair value of our natural gas supply contracts.

The costs attributable to the production of Test LNG sales, primarily consisting of the cost of feed gas, incurred prior to the Plaquemines Project facilities being in service from an accounting perspective, and therefore recognized as an adjustment to construction in progress and not as cost of sales, was $59 million for the nine months ended September 30, 2025.

*Operating and Maintenance Expense*

Operating and maintenance expense was $714 million for the nine months ended September 30, 2025, a $336 million, or 89%, increase from $378 million for the nine months ended September 30, 2024. This increase was primarily due to $191 million in higher operating costs in support of the ramp up of LNG production at the Plaquemines Project primarily due to an increase in non-capitalizable personnel costs, commissioning work, and operational insurance costs, as well as $129 million in operating costs primarily for our LNG tankers.

*General and Administrative Expense*

General and administrative expense was $313 million for the nine months ended September 30, 2025, an $89 million, or 40%, increase from $224 million for the nine months ended September 30, 2024. This increase was primarily due to increased personnel costs of $59 million due to compensation increases and higher employee headcount, as well as $31 million primarily due to increases in legal and other professional service fees, IT and insurance costs.

*Development Expense*

Development expense was $292 million for the nine months ended September 30, 2025, a $219 million, or 43%, decrease from $511 million for the nine months ended September 30, 2024. This decrease was primarily due to lower development costs that were expensed of $190 million for the CP2 Project, which was deemed probable during the nine months ended September 30, 2025, and $32 million for our pipeline infrastructure projects primarily related to the Blackfin pipeline, which was deemed probable in the second half of 2024, resulting in the capitalization of more of the costs for the projects.

*Depreciation and Amortization* 

Depreciation and amortization was $701 million for the nine months ended September 30, 2025, a $472 million, or 206%, increase from $229 million for the nine months ended September 30, 2024. This increase was primarily due to an increase of $448 million due to placing $23.2 billion of property, plant and equipment at the Plaquemines Project in service from an accounting perspective as of September 30, 2025, compared to no Plaquemines Project

------

assets being depreciated as of September 30, 2024 and an increase of $22 million at DS&S due to placing additional LNG tankers in service in 2025. This increase was partially offset by a decrease of $28 million at the Calcasieu Project primarily due to an extension of the estimated useful lives of certain LNG facility assets in 2025.

***Income from Operations***

Income from operations was $3.4 billion for the nine months ended September 30, 2025, a $2.3 billion, or 194%, increase from $1.2 billion for the nine months ended September 30, 2024. This increase was primarily a result of higher sales volumes, primarily at the Plaquemines Project, partially offset by lower weighted average LNG sales prices at the Calcasieu Project subsequent to COD in April 2025, higher cost of feed gas, depreciation expense, and operating and maintenance expense, as discussed above.

***Other Income or Expense***

*Interest Income*

Interest income was $121 million for the nine months ended September 30, 2025, a $66 million, or 35%, decrease from $187 million for the nine months ended September 30, 2024. This decrease was primarily due to lower average cash balances and interest rates during the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024.

*Interest Expense, Net*

Interest expense, net was $1.0 billion for the nine months ended September 30, 2025, a $540 million, or 116%, increase from $467 million for the nine months ended September 30, 2024. This increase was primarily due to higher non-capitalizable interest costs due to placing a portion of the Plaquemines Project assets in service in accordance with the applicable accounting guidance and an increase in our outstanding debt.

*Gain (Loss) on Interest Rate Swaps*

Loss on interest rate swaps was $448 million for the nine months ended September 30, 2025, a $518 million decrease from a gain on interest rate swaps of $70 million for the nine months ended September 30, 2024. This decrease was primarily due a decrease in the forward interest rate curves during the nine months ended September 30, 2025, compared to an increase in the nine months ended September 30, 2024, resulting in the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a $253 million loss on the CP2 Project interest rate swaps, which were entered into in 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a $252 million unfavorable change on the Plaquemines Project interest rate swaps, which were partially settled during the nine months ended September 30, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a $14 million unfavorable change on the Calcasieu Project interest rate swaps.

*Loss on Financing Transactions*

Loss on financing transactions was $204 million for the nine months ended September 30, 2025, a $190 million increase from $14 million for the nine months ended September 30, 2024. This increase was due to the write-off of debt issuance costs associated with the partial prepayment of the Plaquemines Construction Term Loan and the prepayment of CP2 Bridge Facilities during the nine months ended September 30, 2025, as compared to the write-off of debt issuance costs associated with the full prepayment of the Plaquemines Equity Bridge Facility during the nine months ended September 30, 2024.

*Loss on Foreign Currency Transactions*

Loss on foreign currency transactions was $4 million for the nine months ended September 30, 2025.

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***Income before Income Tax Expense***

Income before income tax expense was $1.9 billion for the nine months ended September 30, 2025, a $951 million, or 101%, increase from $945 million for the nine months ended September 30, 2024. This increase was primarily a result of an increase in income from operations, partially offset by higher interest expense and an unfavorable change in the gain (loss) on interest rate swaps, as discussed above.

*Income Tax Expense*

Income tax expense was $354 million for the nine months ended September 30, 2025, a $165 million, or 87%, increase from $189 million for the nine months ended September 30, 2024, primarily driven by an increase in income before income tax expense, discussed above. Our effective tax rate was 18.7% for the nine months ended September 30, 2025, compared to 20.0% for the nine months ended September 30, 2024. The 2025 effective tax rate was impacted primarily by the recognition of stock option windfall tax benefits as well as a combination of non-deductible expenses and changes in the valuation allowance against certain deferred tax assets.

***Net Income***

Net income was $1.5 billion for the nine months ended September 30, 2025, a $786 million, or 104%, increase from $756 million for the nine months ended September 30, 2024. This increase was primarily the result of an increase in income before tax expense, partially offset by higher income tax expense, as discussed above.

*Net Income Attributable to Redeemable Stock of Subsidiary* 

Net income attributable to redeemable stock of subsidiary was $121 million for the nine months ended September 30, 2025, a $14 million, or 13%, increase from $107 million for the nine months ended September 30, 2024. This increase was due to higher paid-in-kind distributions on the CP Funding Redeemable Preferred Units.

*Net Income Attributable to Non-controlling Interests* 

Net income attributable to non-controlling interests was $26 million for the nine months ended September 30, 2025, a $18 million, or 41%, decrease from $44 million for the nine months ended September 30, 2024. This decrease was primarily due to the allocation of earnings to the Calcasieu Holdings Class B common unit holders based on ownership interests subsequent to COD of the Calcasieu Project.

*Dividends on VGLNG Series A Preferred Shares* 

Dividends on VGLNG Series A Preferred Shares were $202 million for the nine months ended September 30, 2025, a $201 million increase from $1 million for the nine months ended September 30, 2024. This increase was due to the issuance of the VGLNG Series A Preferred Shares in late September 2024 and the corresponding difference in the accumulation of dividends.

***Net Income Attributable to Common Stockholders***

Net income attributable to common stockholders was $1.2 billion for the nine months ended September 30, 2025, a $589 million, or 98%, increase from $604 million for the nine months ended September 30, 2024. This increase was primarily the result of the changes discussed above.

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**Segment Results of Operations**

We have four reportable segments, which consist of the Calcasieu Project, the Plaquemines Project, the CP2 Project, and the DS&S business. Each LNG project includes activity of both the respective liquefaction and export terminal and the associated pipeline facilities that will supply the natural gas to that export terminal. The DS&S business is engaged in the sale and delivery of LNG to our customers and includes the operating costs associated with our fleet of LNG tankers. Activities reported in corporate, other and eliminations include immaterial operating segments, overhead costs not directly associated with our reportable segments (for example, general and administrative and marketing expenses), and inter-segment eliminations. Prior period presentations have been recast to conform to the current segment reporting structure to separately disclose our DS&S business that is now quantitatively material.

***Three months ended September 30, 2025 compared to three months ended September 30, 2024***

The following table shows a summary of our segment income (loss) from operations for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended<br>September 30,** | **Three months ended<br>September 30,** | **Change** | **Change** |
| | **2025** | **2024** | **($)** | **(%)** |
| &nbsp;&nbsp;&nbsp;Calcasieu Project | $117 | $540 | $(423) | (78)% |
| &nbsp;&nbsp;&nbsp;Plaquemines Project | 1282 | (57) | 1339 | NM |
| &nbsp;&nbsp;&nbsp;CP2 Project | (45) | (106) | 61 | (58)% |
| &nbsp;&nbsp;&nbsp;DS&S | 56 | (35) | 91 | NM |
| &nbsp;&nbsp;Corporate, other and eliminations | (90) | (153) | 63 | (41)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1320 | $189 | $1131 | NM |

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____________

NM&nbsp;&nbsp;&nbsp;&nbsp;Percentage not meaningful.

*Calcasieu Project*

For the three months ended September 30, 2025, the Calcasieu Project had income from operations of $117 million, a $423 million, or 78%, decrease from $540 million for the three months ended September 30, 2024.

This decrease was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a decrease in revenue of $313 million due to a decrease in LNG sales prices of $517 million upon commencement of LNG sales under our post-COD SPAs effective April 15, 2025, partially offset by an increase in LNG sales volumes of $202 million; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in cost of sales of $166 million primarily due to an increase in the average costs for the purchase of feed gas of $128 million and an increase in LNG sales volumes of $53 million.

These decreases were partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a decrease in depreciation and amortization expense of $31 million primarily due to an extension of the estimated useful lives of certain LNG facility assets in 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a decrease in operating and maintenance expense of $23 million primarily due to the completion of commissioning and remediation work prior to COD and lower legal costs.

*Plaquemines Project*

For the three months ended September 30, 2025, the Plaquemines Project had income from operations of $1.3 billion, a $1.3 billion increase from a loss of $57 million for the three months ended September 30, 2024.

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This increase was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in revenue of $2.5 billion due to the sale of LNG produced by the Plaquemines Project compared to no revenue for the corresponding period in 2024.

This increase was partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in cost of sales of $973 million, due to the sale of LNG produced by the Plaquemines Project, compared to no cost of sales for the comparative period in 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in depreciation and amortization of $141 million from placing a portion, or $23.2 billion, of the facility's assets in service from an accounting perspective as of September 30, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in operating and maintenance expense of $73 million primarily due to higher operating costs in support of LNG production including higher non-capitalizable personnel costs, commissioning work, and operational insurance costs.

*CP2 Project*

For the three months ended September 30, 2025, the CP2 Project had a loss from operations of $45 million, a $61 million, or 58%, decrease from $106 million for the three months ended September 30, 2024. This decrease was primarily driven by lower engineering and development costs that were expensed of $79 million as a result of the CP2 Project being declared probable during 2025.

*DS&S*

For the three months ended September 30, 2025, DS&S had income from operations of $56 million, a $91 million increase from a loss from operations of $35 million for the three months ended September 30, 2024.

This increase was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• revenue of $659 million generated from the sale of LNG produced by our LNG facilities and delivered by DS&S with no corresponding activity in 2024.

This increase was partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cost of sales of $528 million, primarily due to the cost of LNG purchased from our LNG facilities and delivered by DS&S with no corresponding activity in 2024; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in operating and maintenance expense of $35 million, primarily due to operating costs for our LNG tankers.

*Corporate, other and eliminations*

For the three months ended September 30, 2025, corporate, other and eliminations had a loss from operations of $90 million, a $63 million, or 41%, decrease from $153 million for the three months ended September 30, 2024.

This decrease was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a favorable impact of inter-segment eliminations of $59 million for intercompany purchases and sales of LNG between DS&S and our LNG facilities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a decrease in development expense of $26 million for our pipeline infrastructure projects primarily related to the Blackfin pipeline, which was deemed probable in the second half of 2024.

These decreases were partially offset by an increase in general and administrative expense of $24 million primarily due to higher personnel costs from compensation increases and higher employee headcount.

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***Nine months ended September 30, 2025 compared to nine months ended September 30, 2024***

The following table shows a summary of our segment income (loss) from operations for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Nine months ended September 30,** | **Nine months ended September 30,** | **Change** | **Change** |
| | **2025** | **2024** | **($)** | **(%)** |
| &nbsp;&nbsp;&nbsp;Calcasieu Project | $1202 | $2066 | $(864) | (42)% |
| &nbsp;&nbsp;&nbsp;Plaquemines Project | 2618 | (163) | 2781 | NM |
| &nbsp;&nbsp;&nbsp;CP2 Project | (236) | (396) | 160 | (40)% |
| &nbsp;&nbsp;&nbsp;DS&S | 152 | (46) | 198 | NM |
| &nbsp;&nbsp;Corporate, other and eliminations | (298) | (292) | (6) | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $3438 | $1169 | $2269 | 194% |

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____________

NM &nbsp;&nbsp;&nbsp;&nbsp;Percentage not meaningful.

*Calcasieu Project*

For the nine months ended September 30, 2025, the Calcasieu Project had income from operations of $1.2 billion, a $864 million, or 42%, decrease from $2.1 billion for the nine months ended September 30, 2024.

This decrease was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in cost of sales of $631 million primarily due to an increase in the average costs for the purchase of feed gas of $568 million, an increase in LNG sales volumes of $33 million, and an unfavorable change in fair value of natural gas supply contracts of $30 million; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a decrease in revenue of $262 million primarily due to a net decrease of $398 million due to lower LNG sales prices after COD in April 2025 offset by higher LNG sales prices prior to COD in April 2025, partially offset by an increase in sales volumes of $132 million.

These decreases were partially offset by a decrease in depreciation and amortization of $28 million due to an extension of the estimated useful lives of certain LNG facility assets in 2025.

*Plaquemines Project*

For the nine months ended September 30, 2025, the Plaquemines Project had income from operations of $2.6 billion, a $2.8 billion increase from a loss from operations of $163 million for the nine months ended September 30, 2024.

This increase was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in revenue of $5.8 billion due to the sale of LNG produced by the Plaquemines Project compared to no revenue for the corresponding period in 2024.

This increase was partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in cost of sales of $2.4 billion, due to the sale of LNG produced by the Plaquemines Project compared to no cost of sales for the comparative period in 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in depreciation and amortization expense of $448 million from placing a portion, or $23.2 billion, of the facility's assets in service from an accounting perspective as of September 30, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in operating and maintenance expense of $191 million primarily due to higher operating costs in support of LNG production including higher non-capitalizable personnel costs, commissioning work, and operational insurance costs.

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*CP2 Project*

For the nine months ended September 30, 2025, the CP2 Project had a loss from operations of $236 million, a $160 million, or 40%, decrease from $396 million for the nine months ended September 30, 2024. This decrease was primarily driven by lower engineering and development costs that were expensed of $190 million as a result of the CP2 Project being declared probable during 2025.

*DS&S*

For the nine months ended September 30, 2025, DS&S had income from operations of $152 million, a $198 million increase from a loss from operations of $46 million for the nine months ended September 30, 2024.

This increase was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• revenue of $1.6 billion generated from the sale of LNG produced by our LNG facilities and delivered by DS&S with no corresponding activity in 2024.

This increase was partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cost of sales of $1.3 billion, primarily due to the cost of LNG purchased from our LNG facilities and delivered by DS&S with no corresponding activity in 2024; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in operating and maintenance expense of $129 million, primarily due to operating costs for our LNG tankers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in depreciation and amortization expense of $22 million due to placing additional LNG tankers in service in 2025.

*Corporate, other and eliminations*

For the nine months ended September 30, 2025, corporate, other and eliminations had a loss from operations of $298 million, a $6 million, or 2%, increase from $292 million for the nine months ended September 30, 2024.

This increase was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in general and administrative expense of $78 million primarily due to compensation increases and higher employee headcount, as well as increases in legal and other professional service fees, IT and insurance costs.

This increase was offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a decrease in development expense of $32 million for our pipeline infrastructure projects primarily related to the Blackfin pipeline, which was deemed probable in the second half of 2024; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a favorable impact of inter-segment eliminations of $27 million for intercompany purchases and sales of LNG between DS&S and our LNG facilities.

**Liquidity and Capital Resources**

***General***

We have been generating proceeds from the sale of LNG since the first quarter of 2022. We may incur significant costs as we continue to develop our existing and other potential natural gas liquefaction and export projects, pipeline infrastructure projects, and other complementary gas transportation projects and activities.

***Sources and Uses of Cash***

We expect to meet our short-term cash requirements using operating cash flows and available liquidity, consisting of cash and cash equivalents, restricted cash, and available borrowing capacity under our existing credit facilities. Additionally, we expect to meet our long-term cash requirements by using operating cash flows and other future potential sources of liquidity, which may include debt and equity offerings by us or our subsidiaries.

------

The following table provides a summary of our cash and available borrowing capacity under existing credit facilities as of September 30, 2025:

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| | |
|:---|:---|
| | **September 30, 2025** |
| Cash and cash equivalents | $1879 |
| Restricted cash | 1663 |
| Available borrowing capacity under our credit facilities<sup>(1)</sup>: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Calcasieu Pass Working Capital Facility | 256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Plaquemines Working Capital Facility | 609 |
| &nbsp;&nbsp;&nbsp;&nbsp;CP2 Construction Term Loan | 11150 |
| &nbsp;&nbsp;&nbsp;&nbsp;CP2 Working Capital Facility | 740 |
| &nbsp;&nbsp;&nbsp;&nbsp;Blackfin TLA Facility | 371 |
| &nbsp;&nbsp;&nbsp;&nbsp;Blackfin Working Capital Facility | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total available borrowing capacity under our credit facilities | 13201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cash and available borrowing capacity | $16743 |

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__________

<sup>(1)</sup> Available borrowing capacity represents total borrowing capacity less outstanding borrowings and letters of credit under each of our credit facilities as of September 30, 2025.

The Company has entered into certain credit arrangements to secure the transportation of natural gas. As of September 30, 2025, the maximum undiscounted potential exposure associated with these arrangements was $110 million. This amount is not currently recognized as a liability on our condensed consolidated balance sheet. To date, no amounts have been drawn against these arrangements.

On April 15, 2025, the Calcasieu Project declared COD. Following COD of the Calcasieu Project through August 19, 2027, no distributions of available cash are permitted from Calcasieu Funding to Venture Global or its affiliates until all accrued distributions on the CP Funding Redeemable Preferred Units have been fully settled in cash. Further, on and after August 19, 2027, no distributions of available cash will be permitted from Calcasieu Funding to Venture Global or its affiliates until the CP Funding Redeemable Preferred Units have been fully redeemed in cash. In this context, available cash means funds in excess of cash deemed necessary by management to fund Calcasieu Pass's operating costs, including debt service requirements, during this period. As of September 30, 2025, the CP Funding Redeemable Preferred Units had a redemption value of $1.7 billion of which $750 million was related to accrued distributions. For the risk factors related to our business, see Item 1.—*Business* and Item 1A.— *Risk Factor*s on our 2024 Form 10-K.

We commence production at our LNG projects on a sequential basis, with each liquefaction train being brought online as it is commissioned. During the nine months ended September 30, 2025, the Calcasieu Project and the Plaquemines Project generated $969 million and $4.2 billion of cash flow from operations, respectively.

***Material Financings***

*Project Debt Financing*

**Plaquemines Project.** In April 2025, our subsidiary, VGPL issued $2.5 billion aggregate principal amount of senior secured notes, consisting of $1.25 billion of senior secured notes due 2033, or the VGPL 2033 notes, and $1.25 billion of senior secured notes due 2035, or the VGPL 2035 notes. The VGPL 2033 notes bear interest at a rate of 7.500% per annum and the VGPL 2035 notes bear interest at a rate of 7.750% per annum, with interest on each series of notes payable semi-annually in arrears on May 1 and November 1 of each year. The VGPL 2033 notes will mature on May 1, 2033 and the VGPL 2035 notes will mature on May 1, 2035. The proceeds from this issuance, along with swap breakage proceeds, were used to prepay $2.7 billion outstanding under the Plaquemines Construction Term Loan.

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In July 2025, VGPL issued $4.0 billion aggregate principal amount of senior secured notes, consisting of $2.0 billion of senior secured notes due 2034, or the VGPL 2034 notes, and $2.0 billion of senior secured notes due 2036, or the VGPL 2036 notes. The VGPL 2034 notes bear interest at a rate of 6.500% per annum and the VGPL 2036 notes bear interest at a rate of 6.750% per annum, with interest on each series of notes payable semi-annually in arrears on January 15 and July 15 of each year. The VGPL 2034 notes will mature on January 15, 2034 and the VGPL 2036 notes will mature on January 15, 2036. The proceeds from this issuance, along with swap breakage proceeds, were used to prepay $4.5 billion outstanding under the Plaquemines Construction Term Loan.

We currently estimate that the Total Project Costs for the Plaquemines Project will be approximately $24.0 billion to $24.5 billion of which approximately $23.1 billion was paid for as of September 30, 2025. This estimate incorporates our most recent cost projections factoring in increased cost estimates associated with the completion of the LNG facility's power island components.

**CP2 Project.** In May 2025, our subsidiary, CP2, entered into the CP2 Bridge Facilities, a $3.0 billion secured credit facility to fund a portion of the project costs for the CP2 Project prior to the closing of the full project financing for the first phase of the CP2 Project. Borrowings under the CP2 Bridge Facilities bear interest at a set margin rate over the debt term, plus, at the Company's election, either a SOFR or base rate. The set margin rate for SOFR-based loans is 3.500% and the set margin rate for base rate loans is 2.500%. The Company also incurred commitment fees on the undrawn available commitments of the CP2 Bridge Facilities.

In July 2025, the first phase of the CP2 Project achieved FID and we obtained $15.1 billion in project financing to fund the development and construction of the first phase of the CP2 Project. CP2 Holdings entered into the $3.0 billion secured CP2 Holdings EBL Facilities, due July 28, 2028. Borrowings under the CP2 Holdings EBL Facilities bear interest at a set margin rate over the debt term plus, at the Company's election, either a SOFR or base rate. The set margin rate for SOFR-based loans is 3.500% and the set margin rate for base rate loans is 2.500%. Interest on SOFR-based loans is due and payable at the end of each interest period (but at least every three months) and interest on base rate loans is due and payable at the end of each calendar quarter. CP2, as borrower, and CP2 Procurement and CP Express, as guarantors, entered into the $12.1 billion senior secured CP2 Credit Facilities, due July 28, 2032. Borrowings under the CP2 Credit Facilities bear interest at a set margin rate over the debt term, plus, at the Company's election, either a SOFR or base rate. The set margin rate for the SOFR-based loans ranges from 2.250% to 2.750% and the set margin rate for the base rate loans ranges from 1.250% to 1.750%. The Company also incurs commitment fees from 0.788% to 0.963% of the undrawn available commitments of the CP2 Working Capital Facility. Interest on SOFR-based loans is due and payable at the end of each interest period (but at least every three months) and interest on base rate loans is due and payable at the end of each calendar quarter.

A portion of the proceeds from the project financing was used to prepay the outstanding CP2 Bridge Facilities in full and pay costs incurred in connection with the project financing. The remaining proceeds from the project financing will be used to fund the costs of financing, developing, constructing, and placing in service the first phase of the CP2 Project.

We currently estimate the Total Project Costs for the first and second phase of the CP2 Project will range between approximately $28.5 billion and $29.5 billion, of which approximately $7.6 billion was paid for as of September 30, 2025. This estimate incorporates our most recent cost projections for the first and second phase of the CP2 Project, factoring in expected increases associated with project financing, recent tariff developments, increasing labor competition in the region, and design accommodations for future brownfield expansions of the overall CP2 Project.

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**Pipeline infrastructure projects.** In September 2025, our subsidiary, Blackfin, entered into the $1.6 billion senior secured Blackfin Credit Facilities. Under the Blackfin Credit Facilities, the Blackfin TLA Facility and Blackfin Working Capital Facility are due September 29, 2030 and the Blackfin TLB Facility is due September 29, 2032 . Borrowings under the Blackfin TLA Facility and Blackfin TLB Facility bear interest at a set margin over the debt term, plus, at the Company's election, either a SOFR or base rate. The set margin rate for the Blackfin TLA Facility for SOFR-based loans is 2.250% and the set margin rate for base rate loans is 1.250%, subject to future increases. The set margin rate for the Blackfin TLB Facility for SOFR-based loans is 3.000% and the set margin rate for base rate loans is 2.000%. The Company also incurs commitment fees from 0.438% to 0.875% of the undrawn available commitments under the Blackfin TLA Facility and Blackfin Working Capital Facility. Interest on SOFR-based loans is due and payable at the end of each interest period (but at least every three months) and interest on base rate loans is due and payable at the end of each calendar quarter.

Proceeds from the Blackfin Credit Facilities were used to reimburse $859 million to VGLNG for prior expenditures related to the development and construction of the Blackfin pipeline, and pay certain costs incurred in connection with the project financing. The remaining proceeds will be used to fund a portion of the costs to develop, construct and manage the Blackfin pipeline.

See *Note 10 – Debt* in <u>[Item 1](#i8663892622c74fa088d0b8333ce09ea9_19)</u>*<u>[.—Financial Statements](#i8663892622c74fa088d0b8333ce09ea9_19)</u>* of this Form 10-Q for additional discussion of material financing activity.

**Cash Flows**

***Nine months ended September 30, 2025 compared to nine months ended September 30, 2024***

The following table shows a summary of our condensed consolidated cash flows for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Nine months ended September 30,** | **Nine months ended September 30,** | **Change** | **Change** |
| | **2025** | **2024** | **($)** | **(%)** |
| Net cash from operating activities | $4455 | $1476 | $2979 | 202% |
| Net cash used by investing activities | (9577) | (10436) | 859 | (8)% |
| Net cash from financing activities | 4050 | 8723 | (4673) | (54)% |

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*Operating activities*

Net cash from operating activities for the nine months ended September 30, 2025 was $4.5 billion, a $3.0 billion, or 202%, increase from $1.5 billion for the nine months ended September 30, 2024.

The increase in net cash inflows was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase of $5.5 billion of cash received for the sale of LNG; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase of $834 million of cash received from the settlement of derivatives.

These increases in net cash inflows from operating activities were partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase of $2.5 billion of cash paid for costs of sales, primarily for the purchase of feed gas;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase of $312 million of cash paid for operating expenses; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase of $426 million of cash paid for interest expense.

*Investing activities*

Net cash used by investing activities for the nine months ended September 30, 2025 was $9.6 billion, a $859 million, or 8%, decrease from $10.4 billion for the nine months ended September 30, 2024.

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The decrease in net cash outflows was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a decrease of $318 million of cash paid for purchases of property, plant and equipment primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ a decrease of $2.3 billion of cash paid at the Plaquemines Project,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ which was partially offset by an increase of $1.5 billion of cash paid at the CP2 Project for the ramp up of construction and $544 million of cash paid at DS&S primarily for the purchase of LNG tankers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a decrease of $267 million due to cash outflows from investments in interest bearing deposits during the nine months ended September 30, 2024 as compared to cash inflows from the redemption of certificates of deposit during the nine months ended September 30, 2025.

*Financing activities*

Net cash from financing activities for the nine months ended September 30, 2025 was $4.1 billion, a $4.7 billion, or 54%, decrease from $8.7 billion for the nine months ended September 30, 2024.

The decrease in net cash inflows was primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in debt principal payments of $6.8 billion due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ $7.7 billion repayments during the nine months ended September 30, 2025 for the prepayment of $7.2 billion outstanding under the Plaquemines Construction Term Loan, the repayment of $308 million outstanding under the CP2 Bridge Facilities, and repayments of $142 million outstanding under the Calcasieu Pass Construction Term Loan; as compared to

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ $859 million repayments during the nine months ended September 30, 2024 due to the prepayment of $727 million outstanding under the Plaquemines Equity Bridge Facility and repayments of $132 million outstanding under the Calcasieu Pass Construction Term Loan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proceeds from the issuance of VGLNG Series A Preferred Shares of $3.0 billion during the nine months ended September 30, 2024, with no similar activity during the same period in 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in payments of financing and issuance costs of $803 million, due to $898 million of payments during the nine months ended September 30, 2025, as compared to payments of $95 million during the same period in 2024; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in dividend payments and subsidiary distributions of $340 million due primarily due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ $270 million of subsidiary distributions paid on the VGLNG Series A Preferred Shares as compared to no similar activity during the same period in 2024; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ $121 million of dividends paid on the Company's outstanding common stock as compared to $39 million of dividends paid during the same period in 2024.

These decreases to net cash inflows were partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proceeds from the issuance of the VGPL Senior Secured Notes of $6.5 billion, as compared to the proceeds from the issuance of the VGLNG 2030 Notes of $1.5 billion during the same period in 2024; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proceeds from the issuance of Class A Common Stock of $1.8 billion in connection with our IPO in January 2025, with no similar activity during the same period in 2024.

**VGLNG Information**

There are no material differences between the financial information presented in this Form 10-Q and VGLNG's financial information other than (i) certain presentational differences related to the accounting for the VGLNG Series A Preferred Shares, and (ii) stockholders' equity of Venture Global, including the Class A and Class B common stock and any dividends payable thereon.

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**Key Trends and Uncertainties** 

During 2025 and beyond, we expect to face the following uncertainties related to our business. Management expects that, in the near term, growth from increased LNG production volumes and associated revenues, as construction and commissioning progresses at the Plaquemines Project, may lessen or offset these uncertainties. If this does not occur, or if the challenges described below or elsewhere impact us to a greater degree than we currently anticipate, it may have a material impact on our financial condition, results of operations and/or cash flows. We continue to monitor our operations and address challenges as they arise. For the risk factors related to our business, see Item 1.—*Business* and Item 1A.— *Risk Factor*s on our 2024 Form 10-K.

***Macroeconomic***

General macroeconomic uncertainty may result in conditions that could exacerbate some of the risks that affect our business. This includes evolving tariff structures and any potential impact on global economic activity, potential labor shortages, heightened inflation, capital market volatility, and exchange rate and interest rate fluctuations.

*Tariffs* — The global trade landscape is currently highly volatile. Various countries have announced plans for and/or have already implemented new or modified tariffs. In April 2025, the United States announced broad reciprocal tariffs on imports from all countries. This included a 10% baseline tariff and higher country-specific tariffs, and resulted in some countries announcing additional retaliatory tariffs, or plans for retaliatory tariffs. Various bilateral trade negotiations are ongoing and additional negotiations may take place, any of which could result in further changes to country-specific trade policies and tariffs. For example, the United States announced a framework trade deal in July 2025 pursuant to which certain European Union goods entering the United States would be subject to a 15% tariff, and the European Union would commit to make $750 billion of strategic energy purchases, covering oil, LNG and nuclear technology, during President Trump's term in office. There can be no assurance as to the outcome of any ongoing or additional negotiations, or as to the final terms of the trade deal with the European Union. The European Union is the largest provider of foreign-sourced equipment for our LNG construction projects by dollar value. Global economic uncertainty and any related reduction in economic activity or capital investment may slow growth in global GDP or lead to global recession. Accordingly, these tariffs and any retaliatory actions from other countries could have a material impact on our financial condition, results of operations and/or cash flows through reduced demand and competitiveness for both our long-term and short-term contract sales in countries that may be affected by those policies, and increased project costs for future imported equipment and materials. The Company continues to monitor this dynamic situation.

*Labor market —* A recent shortage in the labor pool of skilled workers to construct LNG facilities and other major infrastructure projects could make it more difficult to attract and retain qualified personnel for future projects. In addition, competition for skilled labor from other LNG projects under development in Louisiana could exacerbate this shortage, potentially increasing labor retention costs. This could materially increase our estimated project costs, which include significant labor costs, and could have a material impact on our financial condition, results of operations and/or cash flows.

*Capital markets and interest rates* — Capital markets have experienced recent volatility and liquidity constraints due to uncertainty around the global economic impact of tariffs and inflation. Such volatility may adversely impact access to the market for corporate or project lending or lead to higher borrowing costs. We aim to mitigate our exposure to interest rate volatility through interest rate swaps, but we will not be able to mitigate all interest rate risk. Additionally, we may sometimes prioritize access to capital or capital recycling over interest rates when determining when to access capital markets.

***Geopolitical***

The future geopolitical environment is uncertain. Changes in the geopolitical environment could affect the demand and market prices for our products. This includes reduced demand globally for LNG should geopolitical uncertainty result in reduced global trade and economic activity, increased competition in European markets from the potential reintroduction of Russian sourced natural gas, implications of increased conflict and uncertainty in the

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Middle East, trade negotiations with customers in politically sensitive regions, potential selective sourcing of LNG by the People's Republic of China, and other potential implications. The Company continues to monitor the impact these trends and uncertainties could have on our financial condition, results of operations and/or cash flows.

***Regulatory***

Recent shifts in U.S. environmental and energy policy have resulted in increased opportunities to continue the development of our various projects. This includes the DOE lifting its pause on new authorizations to export LNG to Non-FTA Nations, the DOE's completion of the 2024 LNG export study and concluding that the authorizations of export of LNG from the US should resume and continue, the final approval of the CP2 Project by the FERC in May 2025, the DOE's final authorization for LNG exports from the CP2 Project to Non-FTA Nations in October 2025, and the US Supreme Court ruling that federal district courts likely lack the authority to issue universal injunctions. While we cannot predict whether these trends will continue or whether our applications, approvals or permits will attract significant opposition in the permitting processes, we intend to continue to progress our projects through the various permitting and regulatory channels over their expected timelines. Any future significant changes in this trend could have a material impact on our financial condition, results of operations and/or cash flows.

***Post-COD SPAs***

The Calcasieu Project is involved in disputes and arbitration proceedings with its post-COD SPA customers. Such customers are asserting, among other claims, that the Calcasieu Project was delayed in achieving COD under its post-COD SPAs. The remedies originally sought by these customers included damages ranging between $6.7 billion and $7.4 billion. Following the positive resolution of two arbitration proceedings, the Calcasieu Project remains involved in arbitration proceedings with five of its post-COD SPA customers. The remedies sought by these customers include damages ranging between $4.8 billion and $5.5 billion.

We were notified in October 2025 that a partial final award had been issued in the arbitration proceedings with BP. The award issued by the arbitration tribunal found that the Calcasieu Project had breached its obligations to declare COD of the Calcasieu Project in a timely manner and act as a "Reasonable and Prudent Operator" pursuant to the BP post-COD SPA, along with certain other obligations. Remedies were not addressed in the partial final award and will be determined in a separate damages hearing, but we do not anticipate that the final award will be subject to the seller aggregate liability limitation in the BP post-COD SPA. The remedies sought by BP include damages in excess of $1.0 billion, as well as interest, costs and attorneys' fees.

The remedies sought by the remaining four Calcasieu Project post-COD customers in arbitration proceedings include damages ranging between $3.8 billion and $4.5 billion in the aggregate, rather than the termination of the post-COD SPA. We believe these disputes are subject to the relevant seller aggregate liability limitation under the applicable post-COD SPA, which amount to $765 million in the aggregate. However, these customers are also disputing whether the liability limitations in such post-COD SPAs are applicable, and therefore are claiming damages in excess of the liability limitations.

For further discussion, see Item 1A.—Risk Factors—Risks Relating to Regulation and Litigation—*If we are unsuccessful in any current or potential future arbitration proceedings with customers, the amounts that we are required to pay may be substantial or certain of our post-COD SPAs may be terminated, which may lead to an acceleration of all our debt for the relevant project* of our 2024 Form 10-K, *Note 3 – Revenue from Contracts with Customers* in <u>[Item 1](#i8663892622c74fa088d0b8333ce09ea9_19)[.](#i8663892622c74fa088d0b8333ce09ea9_19)[—](#i8663892622c74fa088d0b8333ce09ea9_19)</u>*<u>[Financi](#i8663892622c74fa088d0b8333ce09ea9_19)[al](#i8663892622c74fa088d0b8333ce09ea9_19)[Statements](#i8663892622c74fa088d0b8333ce09ea9_19)</u>* of this Form 10-Q, and Part II <u>[Item 1.—](#i8663892622c74fa088d0b8333ce09ea9_160)</u>*<u>[Legal](#i8663892622c74fa088d0b8333ce09ea9_160)[Proceeding](#i8663892622c74fa088d0b8333ce09ea9_160)</u>s* of this Form 10-Q.

**Critical Accounting Estimates**

***Use of Estimates***

The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated

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financial statements and accompanying notes. We evaluate our assumptions on an ongoing basis. While we believe the estimates used in the preparation of the condensed consolidated financial statements are appropriate, actual results could differ from these estimates.

***Recent Accounting Pronouncements***

For a summary of recent accounting pronouncements, see *Note 21 – Recent Accounting Pronouncements* in <u>[Item 1](#i8663892622c74fa088d0b8333ce09ea9_19)</u>*<u>[.—Financial Statements](#i8663892622c74fa088d0b8333ce09ea9_19)</u>* of this Form 10-Q.

**ITEM 3.&nbsp;&nbsp;&nbsp;&nbsp;QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

There have been no material changes to the market risks disclosed in our 2024 Form 10-K.

**ITEM 4.&nbsp;&nbsp;&nbsp;&nbsp;CONTROLS AND PROCEDURES**

**Evaluation of Disclosure Controls and Procedures**

Our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) are designed to ensure that information required to be disclosed by us in reports we file or submit under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the appropriate time periods, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely discussions regarding required disclosure.

We, under the supervision of and with participation of our management, including our Chief Executive Officer and Chief Financial Officer, have evaluated the effectiveness of our disclosure controls and procedures. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of September 30, 2025.

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**PART II**

**ITEM 1.&nbsp;&nbsp;&nbsp;&nbsp;LEGAL PROCEEDINGS**

We are involved, and in the future may become involved, in various claims, lawsuits, and other proceedings incidental to the ordinary course of our business from time to time. We regularly analyze current information and, as necessary, provide accruals for probable liabilities on the eventual disposition of these matters.

On February 17, 2025, a putative securities class action complaint naming Venture Global, our directors and certain of our officers was filed in the U.S. District Court for the Southern District of New York. The complaint asserts claims under Sections 11 and 15 of the Securities Act on behalf of a putative class of all persons and entities who purchased or otherwise acquired our Class A common stock pursuant and/or traceable to the registration statement for the IPO. It contends that certain statements made by the Company and certain of its officers and directors in the registration statement and prospectus for the IPO were allegedly false or misleading and seeks unspecified damages on behalf of the putative class. The complaint was voluntarily dismissed with prejudice on April 24, 2025.

Further, on April 15, 2025, a putative securities class action complaint naming Venture Global, our directors and certain of our officers and our underwriters, as well as Venture Global Partners II, LLC, was filed in the U.S. District Court for the Eastern District of Virginia. The complaint, as subsequently amended on September 15, 2025, asserts claims under Sections 11, 12, and 15 of the Securities Act on behalf of a putative class of all persons and entities who purchased or otherwise acquired our Class A common stock pursuant and/or traceable to the registration statement for the IPO. It contends that certain statements made by the Company and certain of its officers and directors in the registration statement and prospectus for the IPO were allegedly false or misleading and seeks unspecified damages on behalf of the putative class. The Company believes these claims are without merit and intends to defend itself vigorously.

Further, on May 7, 2025, a putative shareholder derivative action complaint naming Venture Global, our directors, certain of our officers and certain of our underwriters was filed in the U.S. District Court for the Eastern District of Virginia. The complaint contends that certain statements made by the Company and certain of its officers and directors in the registration statement and prospectus for the IPO were allegedly false or misleading. The complaint asserts breaches of fiduciary duties, gross mismanagement, waste of corporate assets, unjust enrichment, and aiding and abetting, and seeks unspecified damages for such breaches. Three additional putative shareholder derivative action complaints naming Venture Global, our directors, certain of our officers and certain of our underwriters, were filed in the U.S. District Court for the Southern District of New York on June 10, 2025, June 27, 2025 and June 30, 2025, respectively. Each of these three complaints contains substantially similar allegations to those described above. All four shareholder derivative action complaints have been stayed pending resolution of our forthcoming motion to dismiss the amended securities class action complaint that was filed on September 15, 2025. The Company believes all of the foregoing claims are without merit and intends to defend itself vigorously.

On August 12, 2025, the International Chamber of Commerce, International Court of Arbitration informed VGCP, an indirect subsidiary of Venture Global, that a partial final award had been issued in the previously disclosed arbitration proceedings with Shell NA LNG LLC ("Shell"). Pursuant to the award, it was determined that VGCP had not breached its obligations under the post-COD SPA relating to the Calcasieu Project with Shell and, consequently, the tribunal determined that VGCP had no liability to Shell for their claims under the arbitration proceedings. Among other remedies, Shell was seeking damages of approximately $1.7 billion. We expect an award with respect to the allocation of costs in connection with the arbitration proceedings to be notified to us before the end of 2025.

On September 2, 2025, VGCP entered into a settlement agreement in respect of previously disclosed arbitration proceedings with another customer regarding its post-COD SPA relating to the Calcasieu Project. Among other remedies, this customer was seeking damages of approximately $200 million. The settlement resolved the arbitration in its entirety and had no material impact on Venture Global.

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On October 8, 2025, the International Chamber of Commerce, International Court of Arbitration informed VGCP that a partial final award had been issued in the previously disclosed arbitration proceedings with BP regarding LNG sales from the Calcasieu Project under the post-COD SPA entered into by VGCP and BP. The award issued by the arbitration tribunal found that VGCP had breached its obligations to declare COD of the Calcasieu Project in a timely manner and act as a "Reasonable and Prudent Operator" pursuant to the post-COD SPA, along with certain other obligations. Remedies were not addressed in the partial final award and will be determined in a separate damages hearing, which has not been scheduled but is anticipated to occur in 2026. A final award is expected to be issued following the damages portion of the hearing. Based on the terms of the award, the Company does not anticipate that the final award will be subject to the seller aggregate liability limitation in the BP post-COD SPA. The remedies sought by BP include damages in excess of $1.0 billion, as well as interest, costs and attorneys' fees.

In addition to the proceedings described above, VGCP is also currently involved in previously disclosed arbitration proceedings with four other customers regarding their respective post-COD SPAs relating to the Calcasieu Project. Such customers are asserting, among other claims, that the Calcasieu Project was delayed in achieving COD under its post-COD SPAs. The remedies sought by these customers include damages ranging between $3.8 billion and $4.5 billion in the aggregate, rather than the termination of the post-COD SPA. We believe these disputes are subject to the relevant seller aggregate liability limitation under the applicable post-COD SPA, which aggregate to $765 million across the relevant post-COD SPAs. These customers are also disputing whether the liability limitations in the Calcasieu Project's post-COD SPAs are applicable, and therefore are claiming damages, including amounts in excess of the liability limitations.

For further discussion, see Item 1A.—Risk Factors—Risks Relating to Regulation and Litigation—*If we are unsuccessful in any current or potential future arbitration proceedings with customers, the amounts that we are required to pay may be substantial or certain of our post-COD SPAs may be terminated, which may lead to an acceleration of all our debt for the relevant project.* on our Annual Report on Form 10-K for the year ended December 31, 2024.

**ITEM 1A. &nbsp;&nbsp;&nbsp;&nbsp;RISK FACTORS**

There have been no material changes with respect to the risk factors disclosed in our 2024 Form 10-K.

**ITEM 2.&nbsp;&nbsp;&nbsp;&nbsp;UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**

**Purchase of Equity Securities by the Issuer and Affiliated Purchasers**

The following table contains information about purchases of our equity securities by affiliated purchasers as defined in Rule 10b-18 under the Exchange Act during the three months ended September 30, 2025.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Period** | **Total number of shares purchased**<sup>(1)</sup> | **Average price** <br>**paid per share** | **Total number of**<br>**shares purchased as**<br>**part of publicly**<br>**announced plans or programs** | **Maximum number**<br>**of shares that may**<br>**yet be purchased**<br>**under the plans or**<br>**programs** |
| July 1, 2025 - July 31, 2025 |  | $— |  |  |
| August 1, 2025 - August 31, 2025 |  |  |  |  |
| September 1, 2025 - September 30, 2025 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |  | $— |  |  |

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__________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>All such purchases during the three months ended September 30, 2025 occurred in open market transactions.

We did not purchase any of our equity securities during the three months ended September 30, 2025.

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**ITEM 3. &nbsp;&nbsp;&nbsp;&nbsp;DEFAULTS UPON SENIOR SECURITIES**

Not applicable.

**ITEM 4.&nbsp;&nbsp;&nbsp;&nbsp;MINE SAFETY DISCLOSURES**

Not applicable.

**ITEM 5. &nbsp;&nbsp;&nbsp;&nbsp;OTHER INFORMATION**

**VGLNG Revolving Credit Agreement**

The information included in this "Part II—Item 5. Other Information" of this Form 10-Q is provided in lieu of filing such information on a Current Report on Form 8-K under "Item 1.01 Entry into a Material Definitive Agreement" and "Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant."

On November 7, 2025, VGLNG entered into a revolving credit agreement (the "Credit Agreement") with the lenders and issuing banks party thereto, and Sumitomo Mitsui Banking Corporation, as administrative agent.

The Credit Agreement provides for a senior secured revolving credit facility (the "VGLNG Facility") under which VGLNG may borrow up to $2.0 billion with the option to increase the commitments or establish one or more incremental term facilities under the Credit Agreement in an amount that, together with all loans and unfunded commitments outstanding under the Credit Agreement, shall not exceed 7.5% of the consolidated total assets of VGLNG and its restricted subsidiaries. The Credit Agreement and all borrowings thereunder will mature on November 7, 2030.

The potential proceeds from future borrowings under the VGLNG Facility are available to be used for general corporate purposes of VGLNG and its subsidiaries. No borrowings were made under the VGLNG Facility on the signing date.

The VGLNG Facility is secured by a first-priority perfected security interest in, subject to certain exceptions, substantially all of the existing and future assets of VGLNG and any future guarantors, if any. As of the signing date, there are no guarantors. If certain of VGLNG's subsidiaries incur or guarantee certain amounts of indebtedness in the future, then they will be required to guarantee the VGLNG Facility.

The Credit Agreement contains certain restrictive and maintenance covenants that, among other things, limit or restrict the ability of, or require, as applicable, VGLNG, any future guarantors and certain of VGLNG's subsidiaries, to (i) make restricted payments, (ii) incur additional indebtedness or issue preferred stock, (iii) guarantee the obligations of others, (iv) assume, incur, permit or suffer to exist liens on VGLNG's or their respective assets, (v) create or permit to exist or become effective any consensual encumbrance on the ability of a restricted subsidiary to pay dividends, pay indebtedness owed to VGLNG, any future guarantors or any of VGLNG's other restricted subsidiaries, make loans or advances to VGLNG, any future guarantors or VGLNG's other restricted subsidiaries, or sell, lease or transfer any properties or assets to VGLNG, any future guarantors or any of VGLNG's other restricted subsidiaries, (vi) consolidate, merge or sell substantially all of VGLNG's or their respective assets or properties, (vii) make certain investments, loans or advances, and (viii) enter into certain transactions or agreements with or for the benefit of VGLNG's or their respective affiliates. The Credit Agreement covenants are subject to a number of important limitations and exceptions. The Credit Agreement also contains customary events of default and remedies, including, but not limited to, (i) failure to pay principal or interest on any borrowings under the VGLNG Facility when due and payable; (ii) failure to comply with certain covenants or agreements in the Credit Agreement if not cured or waived as provided in the Credit Agreement, as applicable, and (iii) certain events of bankruptcy, insolvency, or reorganization.

Borrowings under the Credit Agreement bear interest at either the SOFR or base rate, plus an applicable margin, at VGLNG's election. The applicable margin rate (i) for SOFR-based loans is 2.50% per annum and (ii) for base rate

------

loans is 1.50% per annum, and are subject to reductions by up to 1.00% per annum based on achieving certain ratings requirements. Interest on term SOFR loans is due and payable at the end of each interest period (but at least every three months) and interest on base rate loans is due and payable at the end of each calendar quarter. VGLNG may prepay any amounts borrowed prior to the maturity date without any premium or penalty.

The description set forth in this Item 5 does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement, which will be filed as an exhibit to our Annual Report on Form 10-K for fiscal year ending December 31, 2025.

**Executive Officer or Director Rule 10b5-1(c) Trading Plans**

On August 21, 2025, Sari Granat, one of the Company's directors, entered into a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c). The plan provides for the purchase/sale of 452,032 shares of the Company's common stock. The plan will expire on August 17, 2026.

------

**ITEM 6. &nbsp;&nbsp;&nbsp;&nbsp;EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 3.1† | [Second Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed on January 27, 2025)](https://www.sec.gov/Archives/edgar/data/2007855/000119312525004922/d146310dex31.htm) |
| 3.2† | [Amended and Restated By-Laws (incorporated by reference to Exhibit 3.2 to the Registrant's Annual Report on Form 10-K filed on March 6, 2025)](https://www.sec.gov/Archives/edgar/data/2007855/000200785525000010/vg-ex32xamendedrestatedbyl.htm) |
| 4.1† | [Form of Class A Common Stock Certificate (incorporated by reference to Exhibit 4.1 to the Registrant's Registration Statement on Form S-1 filed on December 20, 2024)](https://www.sec.gov/Archives/edgar/data/2007855/000119312524282957/d146310dex41.htm) |
| 10.1§ | [First Supplemental Indenture, dated as of July 3, 2025, by and between Venture Global Plaquemines LNG, LLC, as Issuer, Venture Global Gator Express, LLC, as Guarantor, and Regions Bank, as Trustee, relating to the Indenture dated as of April 21, 2025](exhibit101-q32025.htm) |
| 10.2§ | [Common Terms Agreement for the Loans, dated as of July 28, 2025, by and between Venture Global CP2 LNG, LLC, as Borrower, Venture Global CP Express, LLC and CP2 Procurement, LLC, as Guarantors, MUFG Bank, Ltd., as Credit Facility Agent and Intercreditor Agent, and each other facility agent that may become party thereto from time to time](exhibit102-q32025.htm) |
| 10.3§ | [Credit Agreement, dated as of July 28, 2025, by and between CP2 LNG Holdings, LLC, as Borrower, the several lenders party thereto from time to time and the Bank of Nova Scotia, Houston Branch, as Administrative Agent](exhibit103-q32025.htm) |
| 10.4§ | [Credit Facility Agreement, dated as of July 28, 2025, by and between Venture Global CP2 LNG, LLC, as Borrower, Venture Global CP Express, LLC and CP2 Procurement, LLC, as Guarantors, the lenders party thereto from time to time, the issuing banks party thereto from time to time, MUFG Bank, Ltd., as Credit Facility Agent, and Sumitomo Mitsui Banking Corporation, as Collateral Agent](exhibit104-q32025.htm) |
| 10.5§ | [Change Order No. 4, dated as of August 15, 2025, under the Purchase Order Contract for the Sale of Liquefaction Train System, dated as of August 5, 2022, by and between Venture Global Plaquemines LNG, LLC and Baker Hughes Energy](exhibit105-q32025.htm) |
| 10.6§ | [Amendment No. 1 to Third Amended and Restated Engineering, Procurement and Construction Agreement, dated as of August 29, 2025, by and between Venture Global Plaquemines LNG, LLC and KZJV LLC](exhibit106-q32025.htm) |
| 10.7 | [Credit Agreement, dated as of September 29, 2025, among Blackfin Pipeline, LLC, as Borrower, Blackfin Pipeline Pledgor, LLC, as Parent, Blackfin Supply LLC, as Permitted Subsidiary, MUFG Bank, Ltd., as Administrative Agent, Sumitomo Mitsui Banking Corporation, as Collateral Agent, and the lenders party thereto from time to time](exhibit107-q32025.htm) |
| 10.8 | [Credit Agreement, dated as of September 29, 2025, among Blackfin Pipeline, LLC, as Borrower, Blackfin Pipeline Pledgor, LLC, as Parent, Blackfin Supply LLC, as Permitted Subsidiary, MUFG Bank, Ltd., as Administrative Agent, Sumitomo Mitsui Banking Corporation, as Collateral Agent, and the lenders party thereto from time to time](exhibit108-q32025.htm) |
| 10.9 | [Amendment No. 1 to TLA/Revolver Credit Agreement, dated as of October 10, 2025, among Blackfin Pipeline, LLC, as Borrower, Blackfin Pipeline Pledgor, LLC, as Parent, Blackfin Supply LLC, as Permitted Subsidiary, MUFG Bank, Ltd., as Administrative Agent, Sumitomo Mitsui Banking Corporation, as Collateral Agent, and the lenders party thereto from time to time](exhibit109-q32025.htm) |
| 10.10 | [Amendment No. 1 to TLB Credit Agreement, dated as of October 10, 2025, among Blackfin Pipeline, LLC, as Borrower, Blackfin Pipeline Pledgor, LLC, as Parent, Blackfin Supply LLC, as Permitted Subsidiary, MUFG Bank, Ltd., as Administrative Agent, Sumitomo Mitsui Banking Corporation, as Collateral Agent, and the lenders party thereto from time to time](exhibit1010-q32025.htm) |
| 31.1 | [Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](exhibit311-q32025.htm) |
| 31.2 | [Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](exhibit312-q32025.htm) |
| 32.1 | [Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](exhibit321-q32025.htm) |
| 32.2 | [Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](exhibit322-q32025.htm) |
| 101.INS | Inline XBRL Instance Document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

† Incorporated by reference. <br> § Portions of this exhibit have been omitted in compliance with Regulation S-K, Item 601(a)(6) and/or Item 601(b)(10)(iv).

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: November 10, 2025

---

| | |
|:---|:---|
| **VENTURE GLOBAL, INC.** | **VENTURE GLOBAL, INC.** |
| By: | /s/ Jonathan Thayer |
|  | Name: Jonathan Thayer |
|  | Title: Chief Financial Officer (on behalf of the registrant and as principal financial officer) |

---

---

| | |
|:---|:---|
| By: | /s/ Sarah Blake |
|  | Name: Sarah Blake |
|  | Title: Chief Accounting Officer (on behalf of the registrant and as principal accounting officer) |

---

## Exhibit 10.1

**Exhibit 10.1**

*Execution Version*

**Certain identified information has been omitted from this document because (i) it is not material and is the type that the Company customarily and actually treats as private or confidential, and/or (ii) if disclosure would constitute a clearly unwarranted invasion of personal privacy and has been marked with "[\*\*\*]" to indicate where omissions have been made.**

<u><br>VENTURE GLOBAL PLAQUEMINES LNG, LLC,as Issuer,andVENTURE GLOBAL GATOR EXPRESS, LLC,as the Guarantor,__________________FIRST SUPPLEMENTAL INDENTUREDated as of July 3, 2025TO THE INDENTURE Dated as of April 21, 2025__________________REGIONS BANK,as Trustee</u>

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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**TABLE OF CONTENTS**

<u>Page</u>

---

| | |
|:---|:---|
| [ARTICLE 1<br>INTERPRETATION](#iea7d6dedc90842ae877991518f742646) | [2](#iea7d6dedc90842ae877991518f742646) |
| [Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;To Be Read With the Base Indenture.](#i1ef9fb458cf442bd9ce85217ca7698b1) | [2](#i1ef9fb458cf442bd9ce85217ca7698b1) |
| [Section 1.02&nbsp;&nbsp;&nbsp;&nbsp;Capitalized Terms.](#icb0e50a97bf7481e9cc579e2ee798967) | [2](#icb0e50a97bf7481e9cc579e2ee798967) |
| [ARTICLE 2<br>ADDITIONAL NOTES](#i00453179141a4a83bddcef1f169940e9) | [2](#i00453179141a4a83bddcef1f169940e9) |
| [Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;The Additional Notes.](#i1417313d2f06428181d9a941bcf66ba7) | [2](#i1417313d2f06428181d9a941bcf66ba7) |
| [Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;Maturity Date.](#ia89e2dc2cef64afca9e3269a95de5201) | [2](#ia89e2dc2cef64afca9e3269a95de5201) |
| [Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;Form; Payment of Interest.](#i7744928331e3420ebb745757dc710e53) | [3](#i7744928331e3420ebb745757dc710e53) |
| [Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;Execution and Authentication of the New Notes.](#i91525b926ad94c34a2733068ea596e14) | [3](#i91525b926ad94c34a2733068ea596e14) |
| [ARTICLE 3<br>REDEMPTION; AMENDMENTS TO THE INDENTURE](#i6b38bf21168542cfbfd4d6597adc6d1f) | [3](#i6b38bf21168542cfbfd4d6597adc6d1f) |
| [Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;Redemption.](#i77651e46f24f4bb18cb01f3e26b62ffb) | [3](#i77651e46f24f4bb18cb01f3e26b62ffb) |
| [Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;Changes to the Base Indenture.](#icb319333711346189deb7858beb31787) | [6](#icb319333711346189deb7858beb31787) |
| [ARTICLE 4<br>SECURITY DOCUMENTS](#id0304a3ca71341bab6a1a06b921e035b) | [6](#id0304a3ca71341bab6a1a06b921e035b) |
| [Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;Security Documents.](#i4c66fbb9c9ad424a8c0bb65931428051) | [6](#i4c66fbb9c9ad424a8c0bb65931428051) |
| [ARTICLE 5<br>MISCELLANEOUS](#i1174f92fffc44d29a25c1ad5a008478e) | [7](#i1174f92fffc44d29a25c1ad5a008478e) |
| [Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;Ratification of the Indenture.](#i8e0e3140e14a4708b5c94722f986642f) | [7](#i8e0e3140e14a4708b5c94722f986642f) |
| [Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;Governing Law.](#i97d1c1a790624839bf9d28974cbc3244) | [7](#i97d1c1a790624839bf9d28974cbc3244) |
| [Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;Counterpart Originals.](#i04805cd14dfa4d318d3bca0566ce2d51) | [7](#i04805cd14dfa4d318d3bca0566ce2d51) |
| [Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;**Table of Contents**, Headings, etc.](#i26b72de737a849da8713bb9552e42d4b) | [8](#i26b72de737a849da8713bb9552e42d4b) |
| [Section 5.05&nbsp;&nbsp;&nbsp;&nbsp;The Trustee.](#i7fd7384984554b86b902a37fdc526527) | [8](#i7fd7384984554b86b902a37fdc526527) |

---

EXHIBITS

Exhibit A-1&nbsp;&nbsp;&nbsp;&nbsp;FORM OF 2034 NOTE

Exhibit A-2&nbsp;&nbsp;&nbsp;&nbsp;FORM OF 2034 REGULATION S TEMPORARY GLOBAL NOTE

Exhibit A-3&nbsp;&nbsp;&nbsp;&nbsp;FORM OF 2036 NOTE

Exhibit A-4&nbsp;&nbsp;&nbsp;&nbsp;FORM OF 2036 REGULATION S TEMPORARY GLOBAL NOTE

i

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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FIRST SUPPLEMENTAL INDENTURE dated as of July 3, 2025 (the "*First Supplemental Indenture*") between Venture Global Plaquemines LNG, LLC, a Delaware limited liability company (the "*Company*"), Venture Global Gator Express, LLC (the "*Guarantor*") and Regions Bank, as Trustee under the Indenture referred to below (the "*Trustee*").

WHEREAS, the Company, the Guarantor and the Trustee previously have entered into an indenture, dated as of April 21, 2025 (the "*Base Indenture*", as supplemented by this First Supplemental Indenture, and any further amendments or supplements thereto, the "*Indenture*"), providing for the issuance of 7.50% Senior Secured Notes due 2033 and 7.75% Senior Secured Notes due 2035 (collectively, the "*Original Notes*");

WHEREAS, pursuant to Section 9.01(12) of the Base Indenture, the Company, the Guarantor and the Trustee may, without the consent of Holders of the outstanding Original Notes, enter into one or more indentures supplemental to the Base Indenture to provide for the issuance of Additional Notes in accordance with Section 2.01(d) and <u>Exhibit F</u> thereof;

WHEREAS, the Base Indenture provides that Additional Notes may be issued as provided in Exhibit F thereof, including that the terms and conditions of any Additional Notes shall be established in one or more Supplemental Indentures approved pursuant to a Board Resolution;

WHEREAS, pursuant to a Board Resolution dated as of June 27, 2025, the Company has authorized the issuance of Additional Notes of $2,000,000,000 aggregate principal amount of its 6.50% Senior Secured Notes due 2034 (the "*2034 Notes*") and $2,000,000,000 aggregate principal amount of its 6.75% Senior Secured Notes due 2036 (the "*2036 Notes*" and, together with the 2034 Notes, the "*New Notes*");

WHEREAS, pursuant to Section 2.01(d) of the Base Indenture and <u>Exhibit F</u> thereof, the Company wishes to provide for the issuance of the New Notes, the form, terms and conditions thereof to be set forth as provided in this First Supplemental Indenture;

WHEREAS, the Company has requested that the Trustee join in the execution of this First Supplemental Indenture and has delivered to the Trustee and Officer's Certificate and an Opinion of Counsel pursuant to Sections 2.01(d), 7.02, 9.01, 9.07, 13.04 and 13.05 of the Indenture; and

WHEREAS, all things necessary to make this First Supplemental Indenture a valid agreement of the parties and a valid supplement to the Base Indenture have been done.

NOW, THEREFORE, for and in consideration of the premises and the mutual covenants contained herein and in the Indenture and for other good and valuable consideration, the receipt and sufficiency of which are herein acknowledged, the Company, the Guarantor and the Trustee hereby agree, for the equal and ratable benefit of all Holders, as follows:<br>

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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ARTICLE 1<br>INTERPRETATION

Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;*To Be Read With the Base Indenture.*

This First Supplemental Indenture is supplemental to the Base Indenture, and the Base Indenture and this First Supplemental Indenture shall hereafter be read together and shall have effect, so far as practicable, with respect to the New Notes as if all the provisions of the Base Indenture and this First Supplemental Indenture were contained in one instrument.

Section 1.02&nbsp;&nbsp;&nbsp;&nbsp;*Capitalized Terms.*

All capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Base Indenture.

ARTICLE 2<br>ADDITIONAL NOTES

Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;*The Additional Notes.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Section 2.01(d) and <u>Exhibit F</u> of the Base Indenture, the Company hereby creates and issues a series of Notes designated as (1) "6.50% Senior Secured Notes due 2034," initially limited in aggregate principal amount to $2,000,000,000 and (2) "6.75% Senior Secured Notes due 2036," initially limited in aggregate principal amount to $2,000,000,000; *provided that* the Company may, at any time and from time to time, create and issue additional 2034 Notes and 2036 Notes in an unlimited principal amount which will be part of the same series as the 2034 Notes or the 2036 Notes, as applicable, and which will have the same terms (except for the issue date, issue price and, in some cases, the first Interest Payment Date) as the 2034 Notes or the 2036 Notes, as applicable. The 2034 Notes and the 2036 Notes will have the same terms as the Original Notes other than as provided in this First Supplemental Indenture. All 2034 Notes and 2036 Notes issued under the Indenture will, once issued, be considered Notes for all purposes thereunder and will be subject to and take the benefit of all the terms, conditions and provisions of the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The authorized minimum denominations of the New Notes shall be $2,000 or integral multiples of $1,000 in excess thereof.

Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;*Maturity Date.*

The maturity date of the 2034 Notes is January 15, 2034 and the maturity date of the 2036 Notes is January 15, 2036.

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;*Form; Payment of Interest.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;With respect to the 2034 Notes, the Notes shall be substantially in the form set forth on <u>Exhibit A-1</u> or <u>Exhibit A-2</u> to this First Supplemental Indenture, which is hereby incorporated into this First Supplemental Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;With respect to the 2036 Notes, the Notes shall be substantially in the form set forth on <u>Exhibit A-3</u> or <u>Exhibit A-4</u> to this First Supplemental Indenture, which is hereby incorporated into this First Supplemental Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The New Notes shall be issuable only in fully registered form, without coupons, and will initially be registered in the name of the Depositary, or its nominee who is hereby designated as "Depositary" under the Base Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Company will pay interest on the 2034 Notes semi-annually in arrears on January 15 and July 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day. Interest on the 2034 Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from July 3, 2025. The first Interest Payment Date with respect to the 2034 Notes shall be January 15, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Company will pay interest on the 2036 Notes semi-annually in arrears on January 15 and July 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day. Interest on the 2036 Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from July 3, 2025. The first Interest Payment Date with respect to the 2036 Notes shall be January 15, 2026.

Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;*Execution and Authentication of the New Notes.*

As provided in and pursuant to Section 2.02 of the Base Indenture, the Trustee shall, pursuant to an Authentication Order, authenticate the New Notes.

ARTICLE 3<br>REDEMPTION; AMENDMENTS TO THE INDENTURE

Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;*Redemption.*

*Optional Redemption.*

The following redemption provisions shall apply to the 2034 Notes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;At any time or from time to time prior to July 15, 2033 (the "*2034 Call Date*"), the Company may, at its option, redeem all or a part of the 2034 Notes at a redemption price equal to the 2034 Make-Whole Price plus accrued and unpaid interest on such 2034 Notes, if any, up to but excluding the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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"*2034 Make-Whole Price*" with respect to any 2034 Notes to be redeemed, means an amount equal to the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;100% of the principal amount of such 2034 Notes, without any premium, penalty or charge; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;an amount equal to the sum of the present values of the remaining scheduled payments of principal and interest from the redemption date to the 2034 Call Date (assuming the principal amount is scheduled to be paid on the 2034 Call Date and not including any portion of such payments of interest accrued and paid on the redemption date) discounted back to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;At any time or from time to time, on or after the 2034 Call Date, the Company may, at its option, redeem all or a part of the 2034 Notes, at a redemption price equal to 100% of the principal amount of the 2034 Notes to be redeemed, plus accrued and unpaid interest up to but excluding the redemption date, without any premium, penalty or charge (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).

The following redemption provisions shall apply to the 2036 Notes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;At any time or from time to time prior to July 15, 2035 (the "*2036 Call Date*"), the Company may, at its option, redeem all or a part of the 2036 Notes at a redemption price equal to the 2036 Make-Whole Price plus accrued and unpaid interest on such 2036 Notes, if any, up to but excluding the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).

"*2036 Make-Whole Price*" with respect to any 2036 Notes to be redeemed, means an amount equal to the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;100% of the principal amount of such 2036 Notes, without any premium, penalty or charge; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;an amount equal to the sum of the present values of the remaining scheduled payments of principal and interest from the redemption date to the 2036 Call Date (assuming the principal amount is scheduled to be paid on the 2036 Call Date and not including any portion of such payments of interest accrued and paid on the redemption date) discounted back to the redemption date on a semi-annual basis (assuming a 360-day year

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;At any time or from time to time, on or after the 2036 Call Date, the Company may, at its option, redeem all or a part of the 2036 Notes, at a redemption price equal to 100% of the principal amount of the 2036 Notes to be redeemed, plus accrued and unpaid interest up to but excluding the redemption date, without any premium, penalty or charge (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).

"*Treasury Rate*" means, as of any redemption date, the yield to maturity as of the earlier of (a) such redemption date or (b) the date on which obligations under the Indenture are defeased or satisfied and discharged of United States Treasury securities with a constant maturity (as compiled and published in the most recent Selected Interest Rates (Daily) H.15 which has become publicly available at least two Business Days (but not more than five Business Days) prior to such redemption date (or, if such release is not so published or available, any publicly available source of similar market data selected by the Company in good faith)) most nearly equal to the period from such date to the 2034 Call Date or the 2036 Call Date, as applicable, on which the principal of the New Notes of the applicable series being redeemed will be paid in full; provided, however, that if the period from such date to such 2034 Call Date or 2036 Call Date, as applicable, is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from such date to such 2034 Call Date or 2036 Call Date, as applicable, is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used.

The notice of redemption with respect to the foregoing redemption need not set forth the 2034 Make-Whole Price or 2036 Make-Whole Price, as applicable, but only the manner of calculation thereof. The Company will determine the redemption price (including any 2034 Make-Whole Price or 2036 Make-Whole Price, as applicable) and will notify the Trustee of the redemption price (including any 2034 Make-Whole Price or 2036 Make-Whole Price, as applicable) with respect to any redemption promptly, and the Trustee shall not be responsible for such calculation or determination or for verification thereof.

In the event the Company elects to redeem the 2034 Notes or the 2036 Notes, as provided above, any such redemption shall comply with Sections 3.01 through Section 3.06 of the Base Indenture.

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Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;*Changes to the Base Indenture.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Section 9.01 shall be deleted in its entirety and replaced with the following: "Notwithstanding Section 9.02, the Company, the Guarantors and the Trustee may amend or supplement the Notes, this Indenture or the Note Guarantees, or the Accession Agreement without the consent of any Holder or any Rating Reaffirmation".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;The following parenthetical shall be added to 9.01(12): "(including, without limitation amendments to the Accession Agreement)".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) &nbsp;&nbsp;&nbsp;&nbsp;References to the "Accession Agreement" in the Indenture shall be deemed to be references to the "A&R Accession Agreement" referred to in Section 4.01(b) of this First Supplemental Indenture (as such A&R Accession Agreement may be further amended or amended and restated from time to time).

ARTICLE 4<br>SECURITY DOCUMENTS

Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;*Security Documents*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;The New Notes, upon issuance and the execution and delivery of the A&R Accession Agreement, will be Senior Debt for purposes of the A&R CSAA and the Security Documents. The Trustee shall be the Senior Creditor Group Representative for the New Notes. The Holders shall be Senior Noteholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Upon the execution and delivery of the Amended and Restated Senior Creditor Group Representative A&R Accession Agreement (which document shall be substantially in the form attached as Schedule D-1 to the A&R CSAA and shall amend and restate the Accession Agreement that was delivered in connection with the Original Notes (the "*A&R Accession Agreement*")), each Holder of the New Notes, by its acceptance of the New Notes instructs and directs the Trustee to execute and deliver the A&R Accession Agreement, to which the Trustee and the Collateral Agent will be a party on the date hereof, the Notes will constitute Additional Senior Debt (as used in the A&R Accession Agreement) and Senior Debt Obligations that is *pari passu* with all other Senior Debt Obligations and will be secured by the Collateral equally and ratably with all the other Senior Debt Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each Holder of the New Notes (i) appoints the Trustee as Senior Creditor Group Representative of the Holders hereunder for purposes of the A&R Accession Agreement and each Finance Document to which the Trustee is party on behalf of the Holders, (ii) confirms that the Trustee, as Senior Creditor Group Representative is entitled to vote and give instructions to the Collateral Agent on behalf of the Holders and (iii) authorizes the Trustee, as Senior Creditor Group Representative to make the agreements set forth in the A&R Accession Agreement on behalf of such Holder.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &nbsp;&nbsp;&nbsp;&nbsp;The Trustee is hereby authorized and directed by each Holder of the New Notes to exercise all the rights and perform all the obligations of a Senior Creditor Group Representative set out in the applicable Finance Documents, including, without limitation, making, on behalf of the Holders, any amendments or modifications as described in Section 9.03 of the Base Indenture and the agreements expressed to be made by Senior Creditors under the Finance Documents. In the execution of and performance under the A&R Accession Agreement, the Trustee shall enjoy the rights, benefits, protections, immunities and indemnities granted to it under the Indenture.

ARTICLE 5<br>MISCELLANEOUS

Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;*Ratification of the Indenture*.

This First Supplemental Indenture is a supplement to the Base Indenture. The Base Indenture as supplemented by this First Supplemental Indenture is in all respects ratified and confirmed, and the Base Indenture and this First Supplemental Indenture shall together constitute one and the same instrument.

Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;*Governing Law.*

THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS FIRST SUPPLEMENTAL INDENTURE, THE NEW NOTES AND ANY NOTE GUARANTEES RELATED TO THE NEW NOTES WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;*Counterpart Originals.*

The parties may manually or electronically sign any number of copies of this First Supplemental Indenture. Each signed copy will be an original, but all of them together represent the same agreement. The exchange of copies of this First Supplemental Indenture and of signature pages by facsimile or electronic format (i.e., "pdf" or "tif") transmission shall constitute effective execution and delivery of this First Supplemental Indenture as to the parties hereto and may be used in lieu of the original First Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format (i.e., "pdf" or "tif") shall be deemed to be their original signatures for all purposes. Delivery of an executed First Supplemental Indenture by one party to any other party may be made by facsimile, electronic mail (including any electronic signature complying with the New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable law), including DocuSign, or other transmission method, and the parties hereto agree that any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

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Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;*Table of Contents, Headings, etc.*

The **Table of Contents** and Headings of the Articles and Sections of this First Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions hereof and will not affect the construction hereof.

Section 5.05&nbsp;&nbsp;&nbsp;&nbsp;*The Trustee.*

The recitals contained herein shall be taken as statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this First Supplemental Indenture. The Trustee shall not be accountable for the use or application by the Company of the New Notes or the proceeds thereof.

[Signatures on following page]

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SIGNATURES

Dated as of July 3, 2025

**VENTURE GLOBAL PLAQUEMINES LNG, LLC** 

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Leah Woodward</u> <br>Name: Leah Woodward<br>Title: Treasurer<br>

**VENTURE GLOBAL GATOR EXPRESS, LLC** 

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Leah Woodward</u> <br>Name: Leah Woodward<br>Title: Treasurer

**REGIONS BANK, as Trustee**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Kristine Prall</u> <br>Name: Kristine Prall<br>Title: Vice President

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| | |
|:---|:---|
| EXHIBIT A-1<br>[Face of Note] | EXHIBIT A-1<br>[Face of Note] |
| CUSIP: 922966 AC0<br>ISIN: US922966AC03 | CUSIP: 922966 AC0<br>ISIN: US922966AC03 |
| 6.50% Senior Secured Notes due 2034 | 6.50% Senior Secured Notes due 2034 |
| No. _____ | $_________ |

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VENTURE GLOBAL PLAQUEMINES LNG, LLC

promises to pay to ________ or registered assigns, the principal sum of <br>___________________________________________ DOLLARS on January 15, 2034.

Interest Payment Dates: January 15 and July 15, commencing January 15, 2026

Record Dates: January 1 and July 1

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Dated: July 3, 2025

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| |
|:---|
| VENTURE GLOBAL PLAQUEMINES LNG, LLC |
| By: |
| Name: |
| Title: |

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| |
|:---|
| This is one of the Notes referred to<br>in the within-mentioned Indenture: |
| REGIONS BANK,<br>&nbsp;&nbsp;&nbsp;&nbsp;as Trustee |
| By:  |
| Authorized Signatory |

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[Back of Note]<br>6.50% Senior Secured Notes due 2034

[*Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture*]

[*Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture*]

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;*Interest*. Venture Global Plaquemines LNG, LLC, a Delaware limited liability company (the "*Company*"), promises to pay interest on the principal amount of this Note (as defined herein) at 6.50% per annum from July 3, 2025 until maturity. The Company will pay interest semi-annually in arrears on January 15 and July 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an "*Interest Payment Date*"). Interest on the 6.50% Senior Secured Notes due 2034 (the "*Notes*") will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; *provided* that if there is no existing Unmatured Event of Default or Event of Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; *provided further* that the first Interest Payment Date shall be January 15, 2026. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 0.50% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate equal to 0.50% per annum in excess of the then applicable interest rate on the Notes of such series to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;*Method of Payment*. The Company will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes at the close of business on the January 1 or July 1 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in <u>Section 2.12</u> of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium and interest at the office or agency of the Paying Agent or Registrar maintained for such purpose within the continental United States, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders; *provided* that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium on, all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;*Paying Agent and Registrar*. Initially, Regions Bank, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;*Indenture and Security Documents*. The Company issued the Notes under an Indenture dated as of April 21, 2025, as supplemented by a first supplemental indenture dated July 3, 2025 (the "*Indenture*") among the Company, the Guarantor and the Trustee. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are secured obligations of the Company. The Notes are secured by a pledge of Collateral (as defined in the Indenture) pursuant to the Security Documents referred to in the Indenture. The Indenture does not limit the aggregate principal amount of Notes that may be issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;*Optional Redemption*.

At any time or from time to time, prior to July 15, 2033 (the "*2034 Call Date*"), the Company may, at its option, redeem all or a part of the 2034 Notes at a redemption price equal to the 2034 Make-Whole Price plus accrued and unpaid interest on such 2034 Notes, if any, up to but excluding the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).

"*2034 Make-Whole Price*" with respect to any 2034 Notes to be redeemed, means an amount equal to the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;100% of the principal amount of such 2034 Notes, without any premium, penalty or charge; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;an amount equal to the sum of the present values of the remaining scheduled payments of principal and interest from the redemption date to the 2034 Call Date (assuming the principal amount is scheduled to be paid on the 2034 Call Date and not including any portion of such payments of interest accrued and paid on the redemption date) discounted back to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 basis points.

&nbsp;&nbsp;&nbsp;&nbsp;At any time or from time to time, on or after the 2034 Call Date, the Company may, at its option, redeem all or a part of the 2034 Notes, at a redemption price equal to 100% of the principal amount of the 2034 Notes to be redeemed, plus accrued and unpaid interest up to but excluding the redemption date, without any premium, penalty or charge (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date without duplication).

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"*Treasury Rate*" means, as of any redemption date, the yield to maturity as of the earlier of (a) such redemption date or (b) the date on which obligations under the Indenture are defeased or satisfied and discharged, of United States Treasury securities with a constant maturity (as compiled and published in the most recent Selected Interest Rates (Daily) H.15 which has become publicly available at least two Business Days (but not more than five Business Days) prior to such date (or, if such release is not so published or available, any publicly available source of similar market data selected by the Company in good faith)) most nearly equal to the period from such date to the 2034 Call Date on which the principal of the 2034 Notes being redeemed will be paid in full; provided, however, that if the period from such date to such 2034 Call Date is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from such date to such 2034 Call Date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used.

The notice of redemption with respect to the foregoing redemption need not set forth the 2034 Make-Whole Price, but only the manner of calculation thereof. The Company will determine the redemption price (including any 2034 Make-Whole Price) and will notify the Trustee of the redemption price (including any 2034 Make-Whole Price) with respect to any redemption promptly, and the Trustee shall not be responsible for such calculation or determination or for verification thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;&nbsp;*Mandatory Redemption*.

The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;&nbsp;*Repurchase at the Option of Holder*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Upon the occurrence of a Change of Control, the Company will make an offer (a "*Change of Control Offer*") of payment (a "*Change of Control Payment*") to each Holder to repurchase all or any part (equal to $2,000 and integral multiples of $1,000 in excess thereof) of that Holder's Notes at a purchase price in cash equal to not less than 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest if any, to the date of repurchase (the "*Change of Control Payment Date*," which date will be no earlier than the date of the corresponding Change of Control). No later than 30 days following any Change of Control, the Company will deliver a notice to each Holder with a copy to the Trustee setting forth the procedures governing the Change of Control Offer as required by the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Company will be required to make an Asset Sale Offer, Excess Loss Proceeds Offer, PLD Excess Proceeds Offer or the LNG SPA Mandatory Offer to the extent provided in <u>Sections 4.12</u>, <u>4.19</u>, <u>4.20</u> and <u>4.21</u>, respectively, of the Indenture.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;&nbsp;*Notice of Redemption*. Notice of redemption will be mailed at least 10 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be delivered more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes of a series or a satisfaction or discharge of the Indenture. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000 in excess thereof, unless all of the Notes held by a Holder are to be redeemed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;&nbsp;*Denominations, Transfer, Exchange*. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;&nbsp;&nbsp;&nbsp;*Persons Deemed Owners*. The registered Holder of a Note may be treated as its owner for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)&nbsp;&nbsp;&nbsp;&nbsp;*Trustee Dealings with Company*. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12)&nbsp;&nbsp;&nbsp;&nbsp;*No Recourse Against Others*. No past, present or future director, manager, officer, employee, incorporator, member, partner, Affiliate or stockholder of the Company or any Guarantor (in each case other than the Company and the Guarantors) or the Sponsor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture, the Note Guarantees, the Security Documents, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13)&nbsp;&nbsp;&nbsp;&nbsp;*Authentication*. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14)&nbsp;&nbsp;&nbsp;&nbsp;*Abbreviations*. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15)&nbsp;&nbsp;&nbsp;&nbsp;*CUSIP Numbers*. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the CUSIP numbers may be used in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16)&nbsp;&nbsp;&nbsp;&nbsp;*Governing Law*. THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES.

The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to:

Venture Global Plaquemines LNG, LLC

c/o Venture Global LNG, Inc. <br>1001 19th Street North, Suite 1500 <br>Arlington, VA 22209 <br>Facsimile No.: [\*\*\*]<br>Attention: [\*\*\*]

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Assignment Form

To assign this Note, fill in the form below:<br>(I) or (we) assign and transfer this Note to:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;(Insert assignee's legal name)

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| |
|:---|
| (Insert assignee's soc. sec. or tax I.D. no.) |
| (Print or type assignee's name, address and zip code) |

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and irrevocably <u>&nbsp;&nbsp;&nbsp;&nbsp;</u><br> appoint to transfer this Note on the books of the Company. The agent may substitute another to act for him.

Date:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Your Signature: <u>&nbsp;&nbsp;&nbsp;&nbsp;</u> <br>(Sign exactly as your name appears on the face of this Note)

<br>Signature Guarantee\*:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>

\*&nbsp;&nbsp;&nbsp;&nbsp;Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

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Option of Holder to Elect Purchase

If you want to elect to have this Note purchased by the Company pursuant to <u>Section 4.12</u>, <u>Section 4.17</u>, <u>Section 4.19</u>, <u>Section 4.20</u>, <u>Section 4.21</u> of the Indenture, check the appropriate box below:

□ Section 4.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.19 &nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

□ Section 4.21

If you want to elect to have only part of the Note purchased by the Company pursuant to <u>Section 4.12</u>, <u>Section 4.17</u>, <u>Section 4.19</u>, <u>Section 4.20</u>, <u>Section 4.21</u> of the Indenture, state the amount you elect to have purchased:

$_____________

Date: ________________

Your Signature: ___________________________

(Sign exactly as your name appears on the face of this Note)

Tax Identification No: ______________________

Signature Guarantee\*: ____________________________

_________________

\*&nbsp;&nbsp;&nbsp;&nbsp;Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

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Schedule of Exchanges of Interests in the Global Note

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this Global Note, have been made:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Date of Exchange** | **Amount of decrease in Principal Amount [at maturity] of this Global Note** | **Amount of increase in Principal Amount [at maturity] of this Global Note** | **Principal Amount [at maturity] of this Global Note following such decrease (or increase)** | **Signature of authorized signatory of Trustee or Custodian** |

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|:---|:---|
| EXHIBIT A-2<br>[Face of Regulation S Temporary Global Note] | EXHIBIT A-2<br>[Face of Regulation S Temporary Global Note] |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CUSIP: U91913 AC4<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ISIN: USU91913AC46 |
| 6.50% Senior Secured Notes due 2034 | 6.50% Senior Secured Notes due 2034 |
| No. _____ | $_________ |

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VENTURE GLOBAL PLAQUEMINES LNG, LLC

promises to pay to ________or registered assigns, the principal sum of<br> ___________________________________________ DOLLARS on January 15, 2034.

Interest Payment Dates: January 15 and July 15, commencing January 15, 2026

Record Dates: January 1 and July 1

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Dated: July 3, 2025

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| |
|:---|
| VENTURE GLOBAL PLAQUEMINES LNG, LLC |
| By: |
| Name: |
| Title: |

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| |
|:---|
| This is one of the Notes referred to<br>in the within-mentioned Indenture: |
| REGIONS BANK,<br> as Trustee |
| By:  |
| Authorized Signatory |

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[Back of Regulation S Temporary Global Note]<br>6.50% Senior Secured Notes due 2034

THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN). NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS REGULATION S TEMPORARY GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON.

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) ("*DTC*"), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "*SECURITIES ACT*"), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER AGREES FOR THE BENEFIT OF VENTURE GLOBAL PLAQUEMINES LNG, LLC THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER

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THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT IN ACCORDANCE WITH THE SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ONLY (A) TO VENTURE GLOBAL PLAQUEMINES LNG, LLC, (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, (C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (D) IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL " ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501(a)(1), (2), (3), (7), (8), (9), (12) OR (13) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSES (C), (D) OR (E) ABOVE, A DULY COMPLETED AND SIGNED CERTIFICATE (THE FORM OF WHICH MAY BE OBTAINED FROM THE TRUSTEE) MUST BE DELIVERED TO THE TRUSTEE. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (F) ABOVE, VENTURE GLOBAL PLAQUEMINES LNG, LLC RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY RULE 144 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;*Interest*. Venture Global Plaquemines LNG, LLC, a Delaware limited liability company (the "*Company*"), promises to pay interest on the principal amount of this Note (as defined herein) at 6.50% per annum from July 3, 2025 until maturity. The Company will pay interest semi-annually in arrears on January 15 and July 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an "*Interest Payment Date*"). Interest on the 6.50% Senior Secured Notes due 2034 (the "*Notes*") will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; *provided* that if there is no existing Unmatured Event of Default or Event of Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest

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Payment Date, interest shall accrue from such next succeeding Interest Payment Date; *provided further* that the first Interest Payment Date shall be January 15, 2026. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 0.50% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate equal to 0.50% per annum in excess of the then applicable interest rate on the Notes of such series to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.

Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Holder hereof shall not be entitled to receive payments of interest hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to the same benefits as other Notes under the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;*Method of Payment*. The Company will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes at the close of business on the January 1 or July 1 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in <u>Section 2.12</u> of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium and interest at the office or agency of the Paying Agent or Registrar maintained for such purpose within the continental United States, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders; *provided* that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium on, all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;*Paying Agent and Registrar*. Initially, Regions Bank, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;*Indenture and Security Documents*. The Company issued the Notes under an Indenture dated as of April 21, 2025, as supplemented by a first supplemental indenture dated July 3, 2025 (the "*Indenture*") among the Company, the Guarantor and the Trustee. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are secured obligations of the Company. The Notes are secured by a pledge of Collateral (as defined in the Indenture) pursuant to the Security Documents referred to in

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the Indenture. The Indenture does not limit the aggregate principal amount of Notes that may be issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;*Optional Redemption*.

At any time or from time to time, prior to July 15, 2033 (the "*2034 Call Date*"), the Company may, at its option, redeem all or a part of the 2034 Notes at a redemption price equal to the 2034 Make-Whole Price plus accrued and unpaid interest on such 2034 Notes, if any, up to but excluding the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).

"*2034 Make-Whole Price*" with respect to any 2034 Notes to be redeemed, means an amount equal to the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;100% of the principal amount of such 2034 Notes, without any premium, penalty or charge; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;an amount equal to the sum of the present values of the remaining scheduled payments of principal and interest from the redemption date to the 2034 Call Date (assuming the principal amount is scheduled to be paid on the 2034 Call Date and not including any portion of such payments of interest accrued and paid on the redemption date) discounted back to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 basis points.

&nbsp;&nbsp;&nbsp;&nbsp;At any time or from time to time, on or after the 2034 Call Date, the Company may, at its option, redeem all or a part of the 2034 Notes, at a redemption price equal to 100% of the principal amount of the 2034 Notes to be redeemed, plus accrued and unpaid interest up to but excluding the redemption date, without any premium, penalty or charge (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date without duplication).

"*Treasury Rate*" means, as of any redemption date, the yield to maturity as of the earlier of (a) such redemption date or (b) the date on which obligations under the Indenture are defeased or satisfied and discharged, of United States Treasury securities with a constant maturity (as compiled and published in the most recent Selected Interest Rates (Daily) H.15 which has become publicly available at least two Business Days (but not more than five Business Days) prior to such date (or, if such release is not so published or available, any publicly available source of similar market data selected by the Company in good faith)) most nearly equal to the period from such date to the 2034 Call Date on which the principal of the 2034 Notes being redeemed will be paid in full; provided, however, that if the period from such date to such 2034 Call Date is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States

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Treasury securities for which such yields are given, except that if the period from such date to such 2034 Call Date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used.

The notice of redemption with respect to the foregoing redemption need not set forth the 2034 Make-Whole Price, but only the manner of calculation thereof. The Company will determine the redemption price (including any 2034 Make-Whole Price) and will notify the Trustee of the redemption price (including any 2034 Make-Whole Price) with respect to any redemption promptly, and the Trustee shall not be responsible for such calculation or determination or for verification thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;&nbsp;*Mandatory Redemption*.

The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;&nbsp;*Repurchase at the Option of Holder*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Upon the occurrence of a Change of Control, the Company will make an offer (a "*Change of Control Offer*") of payment (a "*Change of Control Payment*") to each Holder to repurchase all or any part (equal to $2,000 and integral multiples of $1,000 in excess thereof) of that Holder's Notes at a purchase price in cash equal to not less than 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest if any, to the date of repurchase (the "*Change of Control Payment Date*," which date will be no earlier than the date of the corresponding Change of Control). No later than 30 days following any Change of Control, the Company will deliver a notice to each Holder with a copy to the Trustee setting forth the procedures governing the Change of Control Offer as required by the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Company will be required to make an Asset Sale Offer, Excess Loss Proceeds Offer, PLD Excess Proceeds Offer or the LNG SPA Mandatory Offer to the extent provided in <u>Sections 4.12</u>, <u>4.19</u>, <u>4.20</u> and <u>4.21</u>, respectively, of the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;&nbsp;*Notice of Redemption*. Notice of redemption will be mailed at least 10 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be delivered more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes of a series or a satisfaction or discharge of the Indenture. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000 in excess thereof, unless all of the Notes held by a Holder are to be redeemed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;&nbsp;*Denominations, Transfer, Exchange*. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things,

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to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;&nbsp;&nbsp;&nbsp;*Persons Deemed Owners*. The registered Holder of a Note may be treated as its owner for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)&nbsp;&nbsp;&nbsp;&nbsp;*Trustee Dealings with Company*. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12)&nbsp;&nbsp;&nbsp;&nbsp;*No Recourse Against Others*. No past, present or future director, manager, officer, employee, incorporator, member, partner, Affiliate or stockholder of the Company or any Guarantor (in each case other than the Company and the Guarantors) or the Sponsor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture, the Note Guarantees, the Security Documents, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13)&nbsp;&nbsp;&nbsp;&nbsp;*Authentication*. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14)&nbsp;&nbsp;&nbsp;&nbsp;*Abbreviations*. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15)&nbsp;&nbsp;&nbsp;&nbsp;*CUSIP Numbers*. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the CUSIP numbers may be used in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16)&nbsp;&nbsp;&nbsp;&nbsp;*Governing Law*. THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES.

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&nbsp;&nbsp;&nbsp;&nbsp;The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to:

Venture Global Plaquemines LNG, LLC

c/o Venture Global LNG, Inc.

1001 19th Street North, Suite 1500

Arlington, VA 22209

Facsimile No.: [\*\*\*]

Attention: [\*\*\*]

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Assignment Form

To assign this Note, fill in the form below:<br>(I) or (we) assign and transfer this Note to:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;(Insert assignee's legal name)

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| |
|:---|
| (Insert assignee's soc. sec. or tax I.D. no.) |
| (Print or type assignee's name, address and zip code) |

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and irrevocably <u>&nbsp;&nbsp;&nbsp;&nbsp;</u><br> appoint to transfer this Note on the books of the Company. The agent may substitute another to act for him.

Date:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Your Signature: <u>&nbsp;&nbsp;&nbsp;&nbsp;</u> <br>(Sign exactly as your name appears on the face of this Note)

<br>Signature Guarantee\*:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>

\*&nbsp;&nbsp;&nbsp;&nbsp;Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

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Option of Holder to Elect Purchase

If you want to elect to have this Note purchased by the Company pursuant to <u>Section 4.12</u>, <u>Section 4.17</u>, <u>Section 4.19</u>, <u>Section 4.20</u>, <u>Section 4.21</u> of the Indenture, check the appropriate box below:

□ Section 4.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.19 &nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

□ Section 4.21

If you want to elect to have only part of the Note purchased by the Company pursuant to <u>Section 4.12</u>, <u>Section 4.17</u>, <u>Section 4.19</u>, <u>Section 4.20</u>, <u>Section 4.21</u> of the Indenture, state the amount you elect to have purchased:

$_____________

Date: ________________

Your Signature: ___________________________

(Sign exactly as your name appears on the face of this Note)

Tax Identification No: ______________________

Signature Guarantee\*: ____________________________

_________________

\*&nbsp;&nbsp;&nbsp;&nbsp;Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

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Schedule of Exchanges of Interests in the Regulation S<br>Temporary Global Note

The following exchanges of a part of this Regulation S Temporary Global Note for an interest in another Global Note, or exchanges of a part of another other Restricted Global Note for an interest in this Regulation S Temporary Global Note, have been made:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Date of Exchange** | **Amount of decrease in Principal Amount [at maturity] of this Global Note** | **Amount of increase in Principal Amount [at maturity] of this Global Note** | **Principal Amount<br>[at maturity] of this Global Note following such decrease (or increase)** | **Signature of authorized signatory of Trustee or Custodian** |

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| | |
|:---|:---|
| EXHIBIT A-3<br>[Face of Note] | EXHIBIT A-3<br>[Face of Note] |
|  | CUSIP: 922966 AD8<br>ISIN: US922966AD85 |
| 6.75% Senior Secured Notes due 2036 | 6.75% Senior Secured Notes due 2036 |
| No. _____ $_________ |  |

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VENTURE GLOBAL PLAQUEMINES LNG, LLC

promises to pay to ________ or registered assigns, the principal sum of <br>___________________________________________ DOLLARS on January 15, 2036.

Interest Payment Dates: January 15 and July 15, commencing January 15, 2026

Record Dates: January 1 and July 1

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Dated: July 3, 2025

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|:---|
| VENTURE GLOBAL PLAQUEMINES LNG, LLC |
| By: |
| Name: |
| Title: |

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|:---|
| This is one of the Notes referred to<br>in the within-mentioned Indenture: |
| REGIONS BANK,<br>&nbsp;&nbsp;&nbsp;&nbsp;as Trustee |
| By:  |
| Authorized Signatory |

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[Back of Note]<br>6.75% Senior Secured Notes due 2036

[*Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture*]

[*Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture*]

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;*Interest*. Venture Global Plaquemines LNG, LLC, a Delaware limited liability company (the "*Company*"), promises to pay interest on the principal amount of this Note (as defined herein) at 6.75% per annum from July 3, 2025 until maturity. The Company will pay interest semi-annually in arrears on January 15 and July 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an "*Interest Payment Date*"). Interest on the 6.75% Senior Secured Notes due 2036 (the "*Notes*") will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; *provided* that if there is no existing Unmatured Event of Default or Event of Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; *provided further* that the first Interest Payment Date shall be January 15, 2026. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 0.50% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate equal to 0.50% per annum in excess of the then applicable interest rate on the Notes of such series to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;*Method of Payment*. The Company will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes at the close of business on the January 1 or July 1 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in <u>Section 2.12</u> of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium and interest at the office or agency of the Paying Agent or Registrar maintained for such purpose within the continental United States, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders; *provided* that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium on, all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such

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payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;*Paying Agent and Registrar*. Initially, Regions Bank, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;*Indenture and Security Documents*. The Company issued the Notes under an Indenture dated as of April 21, 2025, as supplemented by a first supplemental indenture dated July 3, 2025 (the "*Indenture*") among the Company, the Guarantor and the Trustee. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are secured obligations of the Company. The Notes are secured by a pledge of Collateral (as defined in the Indenture) pursuant to the Security Documents referred to in the Indenture. The Indenture does not limit the aggregate principal amount of Notes that may be issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;*Optional Redemption*.

At any time or from time to time, prior to July 15, 2035 (the "*2036 Call Date*"), the Company may, at its option, redeem all or a part of the 2036 Notes at a redemption price equal to the 2036 Make-Whole Price plus accrued and unpaid interest on such 2036 Notes, if any, up to but excluding the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).

"*2036 Make-Whole Price*" with respect to any 2036 Notes to be redeemed, means an amount equal to the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;100% of the principal amount of such 2036 Notes, without any premium, penalty or charge; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;an amount equal to the sum of the present values of the remaining scheduled payments of principal and interest from the redemption date to the 2036 Call Date (assuming the principal amount is scheduled to be paid on the 2036 Call Date and not including any portion of such payments of interest accrued and paid on the redemption date) discounted back to the redemption date on a semi-annual basis

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(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 basis points.

&nbsp;&nbsp;&nbsp;&nbsp;At any time or from time to time, on or after the 2036 Call Date, the Company may, at its option, redeem all or a part of the 2036 Notes, at a redemption price equal to 100% of the principal amount of the 2036 Notes to be redeemed, plus accrued and unpaid interest up to but excluding the redemption date, without any premium, penalty or charge (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).

"*Treasury Rate*" means, as of any redemption date, the yield to maturity as of the earlier of (a) such redemption date or (b) the date on which obligations under the Indenture are defeased or satisfied and discharged, of United States Treasury securities with a constant maturity (as compiled and published in the most recent Selected Interest Rates (Daily) H.15 which has become publicly available at least two Business Days (but not more than five Business Days) prior to such date (or, if such release is not so published or available, any publicly available source of similar market data selected by the Company in good faith)) most nearly equal to the period from such date to the 2036 Call Date on which the principal of the 2036 Notes being redeemed will be paid in full; provided, however, that if the period from such date to such 2036 Call Date is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from such date to such 2036 Call Date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used.

The notice of redemption with respect to the foregoing redemption need not set forth the 2036 Make-Whole Price, but only the manner of calculation thereof. The Company will determine the redemption price (including any 2036 Make-Whole Price) and will notify the Trustee of the redemption price (including any 2036 Make-Whole Price) with respect to any redemption promptly, and the Trustee shall not be responsible for such calculation or determination or for verification thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;&nbsp;*Mandatory Redemption*.

The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;&nbsp;*Repurchase at the Option of Holder*.

Upon the occurrence of a Change of Control, the Company will make an offer (a "*Change of Control Offer*") of payment (a "*Change of Control Payment*") to each Holder to repurchase all or any part (equal to $2,000 and integral multiples of $1,000 in excess thereof) of that Holder's Notes at a purchase price in cash equal to not less than 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest if any, to

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the date of repurchase (the "*Change of Control Payment Date*," which date will be no earlier than the date of the corresponding Change of Control). No later than 30 days following any Change of Control, the Company will deliver a notice to each Holder with a copy to the Trustee setting forth the procedures governing the Change of Control Offer as required by the Indenture.

The Company will be required to make an Asset Sale Offer, Excess Loss Proceeds Offer, PLD Excess Proceeds Offer or the LNG SPA Mandatory Offer to the extent provided in <u>Sections 4.12</u>, <u>4.19</u>, <u>4.20</u> and <u>4.21</u>, respectively, of the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;&nbsp;*Notice of Redemption*. Notice of redemption will be mailed at least 10 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be delivered more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes of a series or a satisfaction or discharge of the Indenture. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000 in excess thereof, unless all of the Notes held by a Holder are to be redeemed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;&nbsp;*Denominations, Transfer, Exchange*. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;&nbsp;&nbsp;&nbsp;*Persons Deemed Owners*. The registered Holder of a Note may be treated as its owner for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)&nbsp;&nbsp;&nbsp;&nbsp;*Trustee Dealings with Company*. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12)&nbsp;&nbsp;&nbsp;&nbsp;*No Recourse Against Others*. No past, present or future director, manager, officer, employee, incorporator, member, partner, Affiliate or stockholder of the Company or any Guarantor (in each case other than the Company and the Guarantors) or the Sponsor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture, the Note Guarantees, the Security Documents, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13)&nbsp;&nbsp;&nbsp;&nbsp;*Authentication*. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14)&nbsp;&nbsp;&nbsp;&nbsp;*Abbreviations*. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15)&nbsp;&nbsp;&nbsp;&nbsp;*CUSIP Numbers*. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the CUSIP numbers may be used in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16)&nbsp;&nbsp;&nbsp;&nbsp;*Governing Law*. THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES.

The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to:

Venture Global Plaquemines LNG, LLC

c/o Venture Global LNG, Inc. <br>1001 19th Street North, Suite 1500 <br>Arlington, VA 22209 <br>Facsimile No.: [\*\*\*]<br>Attention: [\*\*\*]

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Assignment Form

To assign this Note, fill in the form below:<br>(I) or (we) assign and transfer this Note to:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;(Insert assignee's legal name)

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| |
|:---|
| (Insert assignee's soc. sec. or tax I.D. no.) |
| (Print or type assignee's name, address and zip code) |

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and irrevocably <u>&nbsp;&nbsp;&nbsp;&nbsp;</u><br> appoint to transfer this Note on the books of the Company. The agent may substitute another to act for him.

Date:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Your Signature: <u>&nbsp;&nbsp;&nbsp;&nbsp;</u> <br>(Sign exactly as your name appears on the face of this Note)

<br>Signature Guarantee\*:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>

\*&nbsp;&nbsp;&nbsp;&nbsp;Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

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Option of Holder to Elect Purchase

If you want to elect to have this Note purchased by the Company pursuant to <u>Section 4.12</u>, <u>Section 4.17</u>, <u>Section 4.19</u>, <u>Section 4.20</u>, <u>Section 4.21</u> of the Indenture, check the appropriate box below:

□ Section 4.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.19 &nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

□ Section 4.21

If you want to elect to have only part of the Note purchased by the Company pursuant to <u>Section 4.12</u>, <u>Section 4.17</u>, <u>Section 4.19</u>, <u>Section 4.20</u>, <u>Section 4.21</u> of the Indenture, state the amount you elect to have purchased:

$_____________

Date: ________________

Your Signature: ___________________________

(Sign exactly as your name appears on the face of this Note)

Tax Identification No: ______________________

Signature Guarantee\*: ____________________________

_________________

\*&nbsp;&nbsp;&nbsp;&nbsp;Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

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Schedule of Exchanges of Interests in the Global Note

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this Global Note, have been made:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Date of Exchange** | **Amount of decrease in Principal Amount [at maturity] of this Global Note** | **Amount of increase in Principal Amount [at maturity] of this Global Note** | **Principal Amount [at maturity] of this Global Note following such decrease (or increase)** | **Signature of authorized signatory of Trustee or Custodian** |

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| | |
|:---|:---|
| EXHIBIT A-4<br>[Face of Regulation S Temporary Global Note] | EXHIBIT A-4<br>[Face of Regulation S Temporary Global Note] |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CUSIP: U91913 AD2<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ISIN: USU91913AD29 |
| 6.75% Senior Secured Notes due 2036 | 6.75% Senior Secured Notes due 2036 |
| No. _____ | $_________ |

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VENTURE GLOBAL PLAQUEMINES LNG, LLC

promises to pay to ________or registered assigns, the principal sum of<br> ___________________________________________ DOLLARS on January 15, 2036.

Interest Payment Dates: January 15 and July 15, commencing January 15, 2026

Record Dates: January 1 and July 1

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Dated: July 3, 2025

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|:---|
| VENTURE GLOBAL PLAQUEMINES LNG, LLC |
| By: |
| Name: |
| Title: |

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|:---|
| This is one of the Notes referred to<br>in the within-mentioned Indenture: |
| REGIONS BANK,<br> as Trustee |
| By:  |
| Authorized Signatory |

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[Back of Regulation S Temporary Global Note]<br>6.75% Senior Secured Notes due 2036

THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN). NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS REGULATION S TEMPORARY GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON.

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) ("*DTC*"), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "*SECURITIES ACT*"), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER AGREES FOR THE BENEFIT OF VENTURE GLOBAL PLAQUEMINES LNG, LLC THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER

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THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT IN ACCORDANCE WITH THE SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ONLY (A) TO VENTURE GLOBAL PLAQUEMINES LNG, LLC, (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, (C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (D) IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL " ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501(a)(1), (2), (3), (7), (8), (9), (12) OR (13) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSES (C), (D) OR (E) ABOVE, A DULY COMPLETED AND SIGNED CERTIFICATE (THE FORM OF WHICH MAY BE OBTAINED FROM THE TRUSTEE) MUST BE DELIVERED TO THE TRUSTEE. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (F) ABOVE, VENTURE GLOBAL PLAQUEMINES LNG, LLC RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY RULE 144 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;*Interest*. Venture Global Plaquemines LNG, LLC, a Delaware limited liability company (the "*Company*"), promises to pay interest on the principal amount of this Note (as defined herein) at 6.75% per annum from July 3, 2025 until maturity. The Company will pay interest semi-annually in arrears on January 15 and July 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an "*Interest Payment Date*"). Interest on the 6.75% Senior Secured Notes due 2036 (the "*Notes*") will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; *provided* that if there is no existing Unmatured Event of Default or Event of Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest

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Payment Date, interest shall accrue from such next succeeding Interest Payment Date; *provided further* that the first Interest Payment Date shall be January 15, 2026. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 0.50% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate equal to 0.50% per annum in excess of the then applicable interest rate on the Notes of such series to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.

Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Holder hereof shall not be entitled to receive payments of interest hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to the same benefits as other Notes under the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;*Method of Payment*. The Company will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes at the close of business on the January 1 or July 1 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in <u>Section 2.12</u> of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium and interest at the office or agency of the Paying Agent or Registrar maintained for such purpose within the continental United States, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders; *provided* that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium on, all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;*Paying Agent and Registrar*. Initially, Regions Bank, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;*Indenture and Security Documents*. The Company issued the Notes under an Indenture dated as of April 21, 2025, as supplemented by a first supplemental indenture dated July 3, 2025 (the "*Indenture*") among the Company, the Guarantor and the Trustee. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express

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provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are secured obligations of the Company. The Notes are secured by a pledge of Collateral (as defined in the Indenture) pursuant to the Security Documents referred to in the Indenture. The Indenture does not limit the aggregate principal amount of Notes that may be issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;*Optional Redemption*.

At any time or from time to time prior to July 15, 2035 (the "*2036 Call Date*"), the Company may, at its option, redeem all or a part of the 2036 Notes at a redemption price equal to the 2036 Make-Whole Price plus accrued and unpaid interest on such 2036 Notes, if any, up to but excluding the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).

"*2036 Make-Whole Price*" with respect to any 2036 Notes to be redeemed, means an amount equal to the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;100% of the principal amount of such 2036 Notes, without any premium, penalty or charge; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;an amount equal to the sum of the present values of the remaining scheduled payments of principal and interest from the redemption date to the 2036 Call Date (assuming the principal amount is scheduled to be paid on the 2036 Call Date and not including any portion of such payments of interest accrued and paid on the redemption date) discounted back to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 basis points.

&nbsp;&nbsp;&nbsp;&nbsp;At any time or from time to time, on or after the 2036 Call Date, the Company may, at its option, redeem all or a part of the 2036 Notes, at a redemption price equal to 100% of the principal amount of the 2036 Notes to be redeemed, plus accrued and unpaid interest up to but excluding the redemption date, without any premium, penalty or charge (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).

"*Treasury Rate*" means, as of any redemption date, the yield to maturity as of the earlier of (a) such redemption date or (b) the date on which obligations under the Indenture are defeased or satisfied and discharged, of United States Treasury securities with a constant maturity (as compiled and published in the most recent Selected Interest Rates (Daily) H.15 which has become publicly available at least two Business Days (but not more than five Business Days)

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prior to such date (or, if such release is not so published or available, any publicly available source of similar market data selected by the Company in good faith)) most nearly equal to the period from such date to the 2036 Call Date on which the principal of the 2036 Notes being redeemed will be paid in full; *provided, however*, that if the period from such date to such 2036 Call Date is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from such date to such 2036 Call Date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used.

The notice of redemption with respect to the foregoing redemption need not set forth the 2036 Make-Whole Price, but only the manner of calculation thereof. The Company will determine the redemption price (including any 2036 Make-Whole Price) and will notify the Trustee of the redemption price (including any 2036 Make-Whole Price) with respect to any redemption promptly, and the Trustee shall not be responsible for such calculation or determination or for verification thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;&nbsp;*Mandatory Redemption*.

The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;&nbsp;*Repurchase at the Option of Holder*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Upon the occurrence of a Change of Control, the Company will make an offer (a "*Change of Control Offer*") of payment (a "*Change of Control Payment*") to each Holder to repurchase all or any part (equal to $2,000 and integral multiples of $1,000 in excess thereof) of that Holder's Notes at a purchase price in cash equal to not less than 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest if any, to the date of repurchase (the "*Change of Control Payment Date*," which date will be no earlier than the date of the corresponding Change of Control). No later than 30 days following any Change of Control, the Company will deliver a notice to each Holder with a copy to the Trustee setting forth the procedures governing the Change of Control Offer as required by the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Company will be required to make an Asset Sale Offer, Excess Loss Proceeds Offer, PLD Excess Proceeds Offer or the LNG SPA Mandatory Offer to the extent provided in <u>Sections 4.12</u>, <u>4.19</u>, <u>4.20</u> and <u>4.21</u>, respectively, of the Indenture.

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;&nbsp;*Notice of Redemption*. Notice of redemption will be mailed at least 10 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be delivered more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes of a series or a satisfaction or discharge of the Indenture. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000 in excess thereof, unless all of the Notes held by a Holder are to be redeemed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;&nbsp;*Denominations, Transfer, Exchange*. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;&nbsp;&nbsp;&nbsp;*Persons Deemed Owners*. The registered Holder of a Note may be treated as its owner for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)&nbsp;&nbsp;&nbsp;&nbsp;*Trustee Dealings with Company*. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12)&nbsp;&nbsp;&nbsp;&nbsp;*No Recourse Against Others*. No past, present or future director, manager, officer, employee, incorporator, member, partner, Affiliate or stockholder of the Company or any Guarantor (in each case other than the Company and the Guarantors) or the Sponsor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture, the Note Guarantees, the Security Documents, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13)&nbsp;&nbsp;&nbsp;&nbsp;*Authentication*. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14)&nbsp;&nbsp;&nbsp;&nbsp;*Abbreviations*. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15)&nbsp;&nbsp;&nbsp;&nbsp;*CUSIP Numbers*. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the CUSIP numbers may be used in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16)&nbsp;&nbsp;&nbsp;&nbsp;*Governing Law*. THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES.

&nbsp;&nbsp;&nbsp;&nbsp;The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to:

Venture Global Plaquemines LNG, LLC

c/o Venture Global LNG, Inc.

1001 19th Street North, Suite 1500

Arlington, VA 22209

Facsimile No.: [\*\*\*]

Attention: [\*\*\*]

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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Assignment Form

To assign this Note, fill in the form below:<br>(I) or (we) assign and transfer this Note to:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;(Insert assignee's legal name)

---

| |
|:---|
| (Insert assignee's soc. sec. or tax I.D. no.) |
| (Print or type assignee's name, address and zip code) |

---

and irrevocably <u>&nbsp;&nbsp;&nbsp;&nbsp;</u><br> appoint to transfer this Note on the books of the Company. The agent may substitute another to act for him.

Date:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Your Signature: <u>&nbsp;&nbsp;&nbsp;&nbsp;</u> <br>(Sign exactly as your name appears on the face of this Note)

<br>Signature Guarantee\*:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>

\*&nbsp;&nbsp;&nbsp;&nbsp;Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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Option of Holder to Elect Purchase

If you want to elect to have this Note purchased by the Company pursuant to <u>Section 4.12</u>, <u>Section 4.17</u>, <u>Section 4.19</u>, <u>Section 4.20</u>, <u>Section 4.21</u> of the Indenture, check the appropriate box below:

□ Section 4.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.19 &nbsp;&nbsp;&nbsp;&nbsp;□ Section 4.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

□ Section 4.21

If you want to elect to have only part of the Note purchased by the Company pursuant to <u>Section 4.12</u>, <u>Section 4.17</u>, <u>Section 4.19</u>, <u>Section 4.20</u>, <u>Section 4.21</u> of the Indenture, state the amount you elect to have purchased:

$_____________

Date: ________________

Your Signature: ___________________________

(Sign exactly as your name appears on the face of this Note)

Tax Identification No: ______________________

Signature Guarantee\*: ____________________________

_________________

\*&nbsp;&nbsp;&nbsp;&nbsp;Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

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Schedule of Exchanges of Interests in the Regulation S<br>Temporary Global Note

The following exchanges of a part of this Regulation S Temporary Global Note for an interest in another Global Note, or exchanges of a part of another other Restricted Global Note for an interest in this Regulation S Temporary Global Note, have been made:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date of Exchange** | **Amount of decrease in Principal Amount [at maturity] of this Global Note** | **Amount of increase in Principal Amount [at maturity] of this Global Note** | **Principal Amount<br>[at maturity] of this Global Note following such decrease (or increase)** | **Signature of authorized signatory of Trustee or Custodian** |

---

#100795054v3&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 10.2

**Exhibit 10.2**

*Execution Version*

**Certain identified information has been omitted from this document because (i) it is not material and is the type that the Company customarily and actually treats as private or confidential, and/or (ii) if disclosure would constitute a clearly unwarranted invasion of personal privacy and has been marked with "[\*\*\*]" to indicate where omissions have been made.**

**COMMON TERMS AGREEMENT**

**FOR THE LOANS**

among

**__________________________**

VENTURE GLOBAL CP2 LNG, LLC,

as **Borrower**,

**__________________________**

VENTURE GLOBAL CP EXPRESS, LLC,

and

CP2 PROCUREMENT, LLC,

as **Guarantors**,

**__________________________**

MUFG BANK, LTD.,

as the **Credit Facility Agent** on behalf of itself and the Credit Facility Lender Parties,

Each other **Facility Agent** that is Party hereto from time to time on behalf of itself and the <br>Facility Lenders under its Facility Agreement

and

MUFG BANK, LTD.,

as **Intercreditor Agent** for the Facility Lenders

**__________________________**

Dated as of July 28, 2025

\|US-DOCS\159270050.40\|\|

#100795240v3&nbsp;&nbsp;&nbsp;&nbsp;

------

**CONTENTS**

**Page**

---

| | |
|:---|:---|
| **[1.&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS AND INTERPRETATION](#i3af4ac2b77cc495984143a45722394f7)** | **[-1-](#i3af4ac2b77cc495984143a45722394f7)** |
| **[2.&nbsp;&nbsp;&nbsp;&nbsp;GENERAL PRINCIPLES OF THE LOANS](#if570351d4dd2401faf7497e487a75609)** | **[-1-](#if570351d4dd2401faf7497e487a75609)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[2.1&nbsp;&nbsp;&nbsp;&nbsp;Purpose and Scope of the Loans](#iefbe549a6b4241959233db4b9bbdf616) | [-1-](#iefbe549a6b4241959233db4b9bbdf616) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[2.2&nbsp;&nbsp;&nbsp;&nbsp;Sequence of Advances of Senior Debt](#i430dfbf7f6ca487fa7ba1805eda2f084) | [-2-](#i430dfbf7f6ca487fa7ba1805eda2f084) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[2.3&nbsp;&nbsp;&nbsp;&nbsp;Loan Disbursement and Letter of Credit Issuance Procedures](#iace1ae63a24341598ced289223ed3596) | [-2-](#iace1ae63a24341598ced289223ed3596) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[2.4&nbsp;&nbsp;&nbsp;&nbsp;Pro Rata Advances](#icf288f9c3217488198bbb4d5ff19b486) | [-3-](#icf288f9c3217488198bbb4d5ff19b486) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[2.5&nbsp;&nbsp;&nbsp;&nbsp;Interest](#i0c2bc458ac15484db90198984ea7d4ff) | [-4-](#i0c2bc458ac15484db90198984ea7d4ff) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[2.6&nbsp;&nbsp;&nbsp;&nbsp;Currency](#id1eb4df8ae1944da916d27639c0f46dc) | [-4-](#id1eb4df8ae1944da916d27639c0f46dc) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[2.7&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement and Consent to Bail-In of Affected Financial Institutions](#ia6d58fbb8c8f41279ca25547c88c63c9) | [-4-](#ia6d58fbb8c8f41279ca25547c88c63c9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[2.8&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement Regarding Any Supported QFCs](#ice7bae9277054015bbd697496fbc9c13) | [-5-](#ice7bae9277054015bbd697496fbc9c13) |
| **[3.&nbsp;&nbsp;&nbsp;&nbsp;REPAYMENT, PREPAYMENT AND CANCELLATION](#i0367bdc191154589b756160a91879953)** | **[-7-](#i0367bdc191154589b756160a91879953)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3.1&nbsp;&nbsp;&nbsp;&nbsp;CTA Payment Dates](#ibff0007e996245b3bd7a42bf0e787786) | [-7-](#ibff0007e996245b3bd7a42bf0e787786) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3.2&nbsp;&nbsp;&nbsp;&nbsp;Right of Repayment and Cancellation in Relation to a Single Facility Lender](#i52c0a11537b54ea5a788959bc0779fc9) | [-8-](#i52c0a11537b54ea5a788959bc0779fc9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3.3&nbsp;&nbsp;&nbsp;&nbsp;No Repayments or Prepayments](#ief7112c1f9904abaa276dc355a28ddda) | [-8-](#ief7112c1f9904abaa276dc355a28ddda) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3.4&nbsp;&nbsp;&nbsp;&nbsp;Mandatory Prepayments](#ieb540057cc6742bca0db5002030a0379) | [-9-](#ieb540057cc6742bca0db5002030a0379) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3.5&nbsp;&nbsp;&nbsp;&nbsp;Voluntary Prepayments](#id6ec31fe54f64c31ab2191995b583c95) | [-12-](#id6ec31fe54f64c31ab2191995b583c95) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3.6&nbsp;&nbsp;&nbsp;&nbsp;Prepayment Fees and Funding Losses](#i64c5f232cf1b474cb4afcd51a51b9f26) | [-13-](#i64c5f232cf1b474cb4afcd51a51b9f26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3.7&nbsp;&nbsp;&nbsp;&nbsp;Pro Rata Payment](#i60e95b21a8464523b02c3c015af537dc) | [-14-](#i60e95b21a8464523b02c3c015af537dc) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3.8&nbsp;&nbsp;&nbsp;&nbsp;Reductions and Cancellations of Facility Debt Commitments](#i96555b2edfcf4e9381edb9cfaf856721) | [-15-](#i96555b2edfcf4e9381edb9cfaf856721) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3.9&nbsp;&nbsp;&nbsp;&nbsp;Late Payments](#i515038776e3744d2b0a3862bb76f0d82) | [-16-](#i515038776e3744d2b0a3862bb76f0d82) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3.10&nbsp;&nbsp;&nbsp;&nbsp;No Borrowing or Reinstatement](#id2d1fb64106b47f7b1f5df4a0461cc24) | [-16-](#id2d1fb64106b47f7b1f5df4a0461cc24) |
| **[4.&nbsp;&nbsp;&nbsp;&nbsp;CONDITIONS PRECEDENT](#id59db3d4c2df4b9692988052d7c5d2eb)** | **[-16-](#id59db3d4c2df4b9692988052d7c5d2eb)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[4.1&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Closing Date and Initial Advance](#i013aca72ca454fbcbe2626b62e9bd3b3) | [-16-](#i013aca72ca454fbcbe2626b62e9bd3b3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[4.2&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Each Term Loan Advance](#ifc5e769b68aa45818a78a037e37ab486) | [-28-](#ifc5e769b68aa45818a78a037e37ab486) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[4.3&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Each Advance under the Working Capital Facility](#i7bbee7740dea401cb772bdd52fd942dd) | [-32-](#i7bbee7740dea401cb772bdd52fd942dd) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[4.4&nbsp;&nbsp;&nbsp;&nbsp;Satisfaction of Conditions](#i81abe4d82f65456384c2cac251312220) | [-32-](#i81abe4d82f65456384c2cac251312220) |
| **[5.&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS AND WARRANTIES OF THE OBLIGORS](#i434c00dfc2b24b4393c7ab895480a0f1)** | **[-33-](#i434c00dfc2b24b4393c7ab895480a0f1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[5.1&nbsp;&nbsp;&nbsp;&nbsp;Initial Representations and Warranties of the Obligors](#i34375a8323c5469591e038174ebdb54b) | [-33-](#i34375a8323c5469591e038174ebdb54b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[5.2&nbsp;&nbsp;&nbsp;&nbsp;Repeated Representations and Warranties of the Obligors](#i3c9627e5eaf84eb2b0e5db8144fc50ca) | [-43-](#i3c9627e5eaf84eb2b0e5db8144fc50ca) |
| **[6.&nbsp;&nbsp;&nbsp;&nbsp;INCURRENCE OF ADDITIONAL SENIOR DEBT](#ic751e713b54847d8a120c49d777f9428)** | **[-51-](#ic751e713b54847d8a120c49d777f9428)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[6.1&nbsp;&nbsp;&nbsp;&nbsp;Permitted Senior Debt](#iaca6fac84cf84006aa28d8e3bf414de8) | [-51-](#iaca6fac84cf84006aa28d8e3bf414de8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[6.2&nbsp;&nbsp;&nbsp;&nbsp;Working Capital Debt](#ia54682882b3b4914a3f1c782b10d0e8f) | [-51-](#ia54682882b3b4914a3f1c782b10d0e8f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[6.3&nbsp;&nbsp;&nbsp;&nbsp;Replacement Debt](#ifef9157c88b64d8582f3f8065722448f) | [-54-](#ifef9157c88b64d8582f3f8065722448f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[6.4&nbsp;&nbsp;&nbsp;&nbsp;Project Phase 2 Development Debt](#ib0a3d57444054133bb866170be48b59a) | [-57-](#ib0a3d57444054133bb866170be48b59a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[6.5&nbsp;&nbsp;&nbsp;&nbsp;Permitted Internal Expansion Debt](#i16e4fb2eca40434a9626c86bde594deb) | [-59-](#i16e4fb2eca40434a9626c86bde594deb) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[6.6&nbsp;&nbsp;&nbsp;&nbsp;Supplemental Debt](#i48dcf3272b7c432188a7b2a3fa00a33b) | [-61-](#i48dcf3272b7c432188a7b2a3fa00a33b) |
| **[7.&nbsp;&nbsp;&nbsp;&nbsp;PERMITTED DEVELOPMENT EXPENDITURES/EXPANSIONS](#i45866cba32ab4d47b5d12b21b68740f3)** | **[-67-](#i45866cba32ab4d47b5d12b21b68740f3)** |

---

-i-

CP2 - Common Terms Agreement

\|US-DOCS\159270050.40\|\|

#100795240v3&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[7.1&nbsp;&nbsp;&nbsp;&nbsp;Permitted Development Expenditures](#i443a25e73794452d94e79b3e2bd1a487) | [-67-](#i443a25e73794452d94e79b3e2bd1a487) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[7.2&nbsp;&nbsp;&nbsp;&nbsp;Expansion Contracts](#i04733ee10ea7470aa8d225d82f89dc16) | [-68-](#i04733ee10ea7470aa8d225d82f89dc16) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[7.3&nbsp;&nbsp;&nbsp;&nbsp;Project Phase 2 Development](#i7d9e7853e9914886bd048199d0d940f7) | [-69-](#i7d9e7853e9914886bd048199d0d940f7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[7.4&nbsp;&nbsp;&nbsp;&nbsp;Permitted Internal Expansion](#i5beb927b4123482da28bead2ef673ca8) | [-73-](#i5beb927b4123482da28bead2ef673ca8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[7.5&nbsp;&nbsp;&nbsp;&nbsp;External Expansions](#icaa057dad22c46e9812b54d2e6841972) | [-77-](#icaa057dad22c46e9812b54d2e6841972) |
| **[8.&nbsp;&nbsp;&nbsp;&nbsp;LNG SPA COVENANTS](#i8c90a0583626477ebc3f89ecd08aea88)** | **[-78-](#i8c90a0583626477ebc3f89ecd08aea88)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[8.1&nbsp;&nbsp;&nbsp;&nbsp;LNG SPA Maintenance](#id7493b3173894c0585097577854e11f6) | [-78-](#id7493b3173894c0585097577854e11f6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[8.2&nbsp;&nbsp;&nbsp;&nbsp;LNG SPA Mandatory Prepayment](#ib44b6696edad4e8f8e85d8f87f88312d) | [-80-](#ib44b6696edad4e8f8e85d8f87f88312d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[8.3&nbsp;&nbsp;&nbsp;&nbsp;Amendment of LNG SPAs](#i747be42745c64ffc8c66a9e2dbeda45b) | [-83-](#i747be42745c64ffc8c66a9e2dbeda45b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[8.4&nbsp;&nbsp;&nbsp;&nbsp;Sale of Supplemental Quantity](#i6214f5c834e14f85b2950f1fbadd98e0) | [-84-](#i6214f5c834e14f85b2950f1fbadd98e0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[8.5&nbsp;&nbsp;&nbsp;&nbsp;Sale of Pre-Completion Quantities](#ifef2f6ae5c674225bdc309e2ddd75294) | [-85-](#ifef2f6ae5c674225bdc309e2ddd75294) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[8.6&nbsp;&nbsp;&nbsp;&nbsp;Payment of LNG Sales Proceeds](#i3c846e9b3ca74dad8b7c4668f8cf01ea) | [-86-](#i3c846e9b3ca74dad8b7c4668f8cf01ea) |
| **[9.&nbsp;&nbsp;&nbsp;&nbsp;MATERIAL CONSTRUCTION CONTRACTS](#ibed75048553d4608b0f40800dd32933b)** | **[-86-](#ibed75048553d4608b0f40800dd32933b)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[9.1&nbsp;&nbsp;&nbsp;&nbsp;Change Orders](#i1eb98d65708b46b49b2d85c60899c77b) | [-86-](#i1eb98d65708b46b49b2d85c60899c77b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[9.2&nbsp;&nbsp;&nbsp;&nbsp;UOP Pre-Treatment Systems](#i5eace29c79cc49839a18b160e351a199) | [-87-](#i5eace29c79cc49839a18b160e351a199) |
| **[10.&nbsp;&nbsp;&nbsp;&nbsp;REPORTING BY THE BORROWER](#i86267c646a6649ba95b897bc8d94eb90)** | **[-88-](#i86267c646a6649ba95b897bc8d94eb90)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[10.1&nbsp;&nbsp;&nbsp;&nbsp;Accounting, Financial and Other Information](#i7184b2d543f647deb85208be6e2b97f4) | [-88-](#i7184b2d543f647deb85208be6e2b97f4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[10.2&nbsp;&nbsp;&nbsp;&nbsp;Quarterly Historical DSCR Certificate](#i5321a2bd5a7c4cd4994c2fdbc6f2c361) | [-89-](#i5321a2bd5a7c4cd4994c2fdbc6f2c361) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[10.3&nbsp;&nbsp;&nbsp;&nbsp;Notices](#i40a7094ef0374d8baf9514f9e65654cb) | [-90-](#i40a7094ef0374d8baf9514f9e65654cb) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[10.4&nbsp;&nbsp;&nbsp;&nbsp;Construction Reports](#i51d9fe9c399d499fbc3d675314f5ca69) | [-92-](#i51d9fe9c399d499fbc3d675314f5ca69) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[10.5&nbsp;&nbsp;&nbsp;&nbsp;Operating Budget](#i4f11367ad89545a7b55202b37fc00744) | [-96-](#i4f11367ad89545a7b55202b37fc00744) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[10.6&nbsp;&nbsp;&nbsp;&nbsp;Operating Statements and Reports](#ie6ed5958901548c983a895bdb749c3a7) | [-96-](#ie6ed5958901548c983a895bdb749c3a7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[10.7&nbsp;&nbsp;&nbsp;&nbsp;Insurance Reporting](#i7e30cb4e2ba440b280b4728cd86d11d0) | [-98-](#i7e30cb4e2ba440b280b4728cd86d11d0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[10.8&nbsp;&nbsp;&nbsp;&nbsp;Copies of Finance Documents](#ied078bf3a1294c83859cef4165d695ca) | [-100-](#ied078bf3a1294c83859cef4165d695ca) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[10.9&nbsp;&nbsp;&nbsp;&nbsp;Early Cargo Projections](#ie189cacd12ef43cd946d401b14aee8f1) | [-100-](#ie189cacd12ef43cd946d401b14aee8f1) |
| **[11.&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTED PAYMENTS](#i14164877ca544558afd14312b9ed553d)** | **[-101-](#i14164877ca544558afd14312b9ed553d)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[11.1&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Restricted Payments](#ie8e1eb7d99f94cefa8b37fafe0c58daf) | [-101-](#ie8e1eb7d99f94cefa8b37fafe0c58daf) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[11.2&nbsp;&nbsp;&nbsp;&nbsp;Certain Restricted Payments](#ifeb89e364576440c8b130239e7f7569a) | [-102-](#ifeb89e364576440c8b130239e7f7569a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[11.3&nbsp;&nbsp;&nbsp;&nbsp;Pre-Completion Revenue Restricted Payments](#ie46dd0e2418448229fe0a09271f4eed8) | [-103-](#ie46dd0e2418448229fe0a09271f4eed8) |
| **[12.&nbsp;&nbsp;&nbsp;&nbsp;OBLIGOR COVENANTS](#i077c2c7eaf2f49ef97195414ff293fc4)** | **[-104-](#i077c2c7eaf2f49ef97195414ff293fc4)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.1&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds](#id6ea1e8343b34cd2845e78abc7e114e3) | [-105-](#id6ea1e8343b34cd2845e78abc7e114e3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.2&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Existence, Franchises, Etc.](#i16bf45c977c14f4b885636ec395d92fd) | [-105-](#i16bf45c977c14f4b885636ec395d92fd) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.3&nbsp;&nbsp;&nbsp;&nbsp;Project Construction; Maintenance of Properties](#i6b0720d6f37d4cdc83d63f60ef43ed7f) | [-105-](#i6b0720d6f37d4cdc83d63f60ef43ed7f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.4&nbsp;&nbsp;&nbsp;&nbsp;Books and Records; Inspection Rights](#i4ed8c80bdde341c3bf5e562891b186b8) | [-106-](#i4ed8c80bdde341c3bf5e562891b186b8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.5&nbsp;&nbsp;&nbsp;&nbsp;Material Project Agreements](#i9c330894815942e69045ae0f844d2ad8) | [-106-](#i9c330894815942e69045ae0f844d2ad8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.6&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Law](#i86d46433ed0a412b915f75959dc1ec62) | [-112-](#i86d46433ed0a412b915f75959dc1ec62) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.7&nbsp;&nbsp;&nbsp;&nbsp;Environmental Compliance](#i55d5543753e04f4d8391e5d45abd8588) | [-114-](#i55d5543753e04f4d8391e5d45abd8588) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.8&nbsp;&nbsp;&nbsp;&nbsp;Permits](#i1fb946bd971b4bf6a360e5fdb2a1a938) | [-115-](#i1fb946bd971b4bf6a360e5fdb2a1a938) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.9&nbsp;&nbsp;&nbsp;&nbsp;Export Authorizations](#i53688561a6234d3aa66e6eb86c43327b) | [-115-](#i53688561a6234d3aa66e6eb86c43327b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.10&nbsp;&nbsp;&nbsp;&nbsp;FERC Order](#i5fc9509922ea422b991abe088bc370db) | [-115-](#i5fc9509922ea422b991abe088bc370db) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.11&nbsp;&nbsp;&nbsp;&nbsp;Witnessing Performance Tests and Lenders' Reliability Tests; Settlement of Liquidated Damages](#i1266bf6f7b6340cfb9da0d8628091689) | [-116-](#i1266bf6f7b6340cfb9da0d8628091689) |

---

-ii-

CP2 - Common Terms Agreement

\|US-DOCS\159270050.40\|\|

#100795240v3&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.12&nbsp;&nbsp;&nbsp;&nbsp;Inspection Rights](#ie511315956d04a6085eff891e76092d2) | [-116-](#ie511315956d04a6085eff891e76092d2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.13&nbsp;&nbsp;&nbsp;&nbsp;Taxes](#i97bffb7cd6c743f5a4787bd7a83f96a3) | [-116-](#i97bffb7cd6c743f5a4787bd7a83f96a3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.14&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Indebtedness](#ia7ed7239f634452ba1dbeca0c5791670) | [-116-](#ia7ed7239f634452ba1dbeca0c5791670) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.15&nbsp;&nbsp;&nbsp;&nbsp;Guarantees](#iacbfccb4afc2412f846602d5a87f22fc) | [-118-](#iacbfccb4afc2412f846602d5a87f22fc) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.16&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Liens](#i53f303e8cafe4665923192d14eb563ee) | [-119-](#i53f303e8cafe4665923192d14eb563ee) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.17&nbsp;&nbsp;&nbsp;&nbsp;Sale of Project Property](#iee448c2ff10a4f848385c42d0cf99611) | [-119-](#iee448c2ff10a4f848385c42d0cf99611) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.18&nbsp;&nbsp;&nbsp;&nbsp;Merger, Division, Liquidation and Sale of All Assets](#i8db8231ad87749e5866eada8cc1bb67d) | [-120-](#i8db8231ad87749e5866eada8cc1bb67d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.19&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Investments and Loans](#i4761da8818824e4b99107aa6c87c4b50) | [-120-](#i4761da8818824e4b99107aa6c87c4b50) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.20&nbsp;&nbsp;&nbsp;&nbsp;Nature of Business](#i3d1096d5b00a4b80a6ec24e1e1d30f4f) | [-121-](#i3d1096d5b00a4b80a6ec24e1e1d30f4f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.21&nbsp;&nbsp;&nbsp;&nbsp;Transactions with Affiliates](#i6b7ceefd121d41c7b169da90966f3f6b) | [-122-](#i6b7ceefd121d41c7b169da90966f3f6b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.22&nbsp;&nbsp;&nbsp;&nbsp;Hedging Arrangements](#i5895bc14c80c4e38b03e0748a12bdd72) | [-123-](#i5895bc14c80c4e38b03e0748a12bdd72) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.23&nbsp;&nbsp;&nbsp;&nbsp;Accounts](#ie8a52c6039cb4d1d89aca1e77308cebd) | [-124-](#ie8a52c6039cb4d1d89aca1e77308cebd) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.24&nbsp;&nbsp;&nbsp;&nbsp;Separateness](#i91923d4a975d4d0c86c652bacd00ed8f) | [-124-](#i91923d4a975d4d0c86c652bacd00ed8f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.25&nbsp;&nbsp;&nbsp;&nbsp;Historical DSCR](#id0d9627b24b84c9a80e18108df6ed6ae) | [-126-](#id0d9627b24b84c9a80e18108df6ed6ae) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.26&nbsp;&nbsp;&nbsp;&nbsp;Auditors](#ied48e77ae8f7454388a06582eb05a108) | [-126-](#ied48e77ae8f7454388a06582eb05a108) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.27&nbsp;&nbsp;&nbsp;&nbsp;Gas Supply Arrangements](#i9a34d58d0640468686dc4f13f19d5035) | [-126-](#i9a34d58d0640468686dc4f13f19d5035) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.28&nbsp;&nbsp;&nbsp;&nbsp;Insurance Covenant](#ibeccedba69fe4f299b2013a161ceac66) | [-127-](#ibeccedba69fe4f299b2013a161ceac66) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.29&nbsp;&nbsp;&nbsp;&nbsp;Certain Real Property Rights; Real Property Documents; Leases](#ia0fa5bd9f8ff4861a775349aad9b295d) | [-128-](#ia0fa5bd9f8ff4861a775349aad9b295d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.30&nbsp;&nbsp;&nbsp;&nbsp;Margin Regulation](#ib2d4e320fe56498d8264790d07be6bbe) | [-128-](#ib2d4e320fe56498d8264790d07be6bbe) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.31&nbsp;&nbsp;&nbsp;&nbsp;Further Assurances](#i640d1db153844731a30ff7e5bdab0cad) | [-128-](#i640d1db153844731a30ff7e5bdab0cad) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.32&nbsp;&nbsp;&nbsp;&nbsp;As-Built Survey](#i0904f7452c4e4e1692bdcff34c91e19b) | [-129-](#i0904f7452c4e4e1692bdcff34c91e19b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.33&nbsp;&nbsp;&nbsp;&nbsp;ERISA](#id3c89dfc0e0743f1b695d45b8f7c6aab) | [-129-](#id3c89dfc0e0743f1b695d45b8f7c6aab) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[12.34&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing Real Estate Covenant](#i5e47e42c39574e418929e55bc7d44604) | [-129-](#i5e47e42c39574e418929e55bc7d44604) |
| **[13.&nbsp;&nbsp;&nbsp;&nbsp;CONSULTANTS](#ie3ad81148e544e7c89e7618f85881e36)** | **[-130-](#ie3ad81148e544e7c89e7618f85881e36)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[13.1&nbsp;&nbsp;&nbsp;&nbsp;Appointment of Consultants](#ia1c4842e27fd4427bf7320e6b140d300) | [-130-](#ia1c4842e27fd4427bf7320e6b140d300) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[13.2&nbsp;&nbsp;&nbsp;&nbsp;Replacement and Fees](#ic0029881638747e889ae88f561ec8c98) | [-130-](#ic0029881638747e889ae88f561ec8c98) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[13.3&nbsp;&nbsp;&nbsp;&nbsp;Access](#i019e5750edaf42cfb69067717e84c174) | [-131-](#i019e5750edaf42cfb69067717e84c174) |
| **[14.&nbsp;&nbsp;&nbsp;&nbsp;CONDITIONS TO PROJECT PHASE 1 COMPLETION; PROJECT PHASE 1 COMPLETION DATE WATERFALL](#i561c85a0518a42b4b186896267f250c8)** | **[-132-](#i561c85a0518a42b4b186896267f250c8)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[14.1&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Occurrence of the Project Phase 1 Completion Date](#ia0c67e144cf24ed1a3916230a6b08f97) | [-132-](#ia0c67e144cf24ed1a3916230a6b08f97) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[14.2&nbsp;&nbsp;&nbsp;&nbsp;Project Phase 1 Completion Date Waterfall](#i2a350680efdd4a0797e2104b18290970) | [-137-](#i2a350680efdd4a0797e2104b18290970) |
| **[15.&nbsp;&nbsp;&nbsp;&nbsp;LOAN FACILITY EVENTS OF DEFAULT](#i1a80611c45374a56932663288565020d)** | **[-139-](#i1a80611c45374a56932663288565020d)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[15.1&nbsp;&nbsp;&nbsp;&nbsp;Loan Facility Events of Default](#i40d212a2492043ebb105beddbb53202b) | [-139-](#i40d212a2492043ebb105beddbb53202b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[15.2&nbsp;&nbsp;&nbsp;&nbsp;Declaration of Loan Facility Declared Default](#ie2d101e5c3f440278239ce8812fe85ef) | [-146-](#ie2d101e5c3f440278239ce8812fe85ef) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[15.3&nbsp;&nbsp;&nbsp;&nbsp;Cessation of Loan Facility Declared Default](#idb1df48e56a74ac99951bac4e8b1df69) | [-146-](#idb1df48e56a74ac99951bac4e8b1df69) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[15.4&nbsp;&nbsp;&nbsp;&nbsp;Instruction to Intercreditor Agent](#i4987d5728d6e4bba88e8589667036a00) | [-146-](#i4987d5728d6e4bba88e8589667036a00) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[15.5&nbsp;&nbsp;&nbsp;&nbsp;Excluded Lenders](#i07c3bd96e535494ca38bdd3cf44feb67) | [-147-](#i07c3bd96e535494ca38bdd3cf44feb67) |
| **[16.&nbsp;&nbsp;&nbsp;&nbsp;COMMON REMEDIES AND ENFORCEMENT](#ibbf93371b0f94d47976b0777dadcd825)** | **[-147-](#ibbf93371b0f94d47976b0777dadcd825)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[16.1&nbsp;&nbsp;&nbsp;&nbsp;Facility Lender Remedies for Loan Facility Declared Events of Default](#i0e4663d9327d43b2b7f0bc19b01aa8d2) | [-147-](#i0e4663d9327d43b2b7f0bc19b01aa8d2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[16.2&nbsp;&nbsp;&nbsp;&nbsp;Remedies for Events of Default under Facility Agreements](#i8e3eda35c8884881bf056286c54fe87a) | [-148-](#i8e3eda35c8884881bf056286c54fe87a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[16.3&nbsp;&nbsp;&nbsp;&nbsp;Permitted Actions under Common Security and Account Agreement](#i1414014215df4b4a8b35e366300c4d83) | [-148-](#i1414014215df4b4a8b35e366300c4d83) |

---

-iii-

CP2 - Common Terms Agreement

\|US-DOCS\159270050.40\|\|

#100795240v3&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| **[17.&nbsp;&nbsp;&nbsp;&nbsp;INTERCREDITOR ARRANGEMENTS](#iccde82c3595f4586877f872addf28862)** | **[-149-](#iccde82c3595f4586877f872addf28862)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[17.1&nbsp;&nbsp;&nbsp;&nbsp;Facility Agents; Facility Lender Action](#i305650ab6e204e08a8d875060df78e35) | [-149-](#i305650ab6e204e08a8d875060df78e35) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[17.2&nbsp;&nbsp;&nbsp;&nbsp;Agreement to Comply with Intercreditor Agreement](#if1fbf7eb57714f228f1b03a63687ab39) | [-150-](#if1fbf7eb57714f228f1b03a63687ab39) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[17.3&nbsp;&nbsp;&nbsp;&nbsp;Agreement Not to Amend Entrenched Intercreditor Provisions](#ica2849e3f8e644d797d8bfcd0ec92da5) | [-150-](#ica2849e3f8e644d797d8bfcd0ec92da5) |
| **[18.&nbsp;&nbsp;&nbsp;&nbsp;THE INTERCREDITOR AGENT](#i91e3b97d15814848845a9709b29ac44b)** | **[-151-](#i91e3b97d15814848845a9709b29ac44b)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[18.1&nbsp;&nbsp;&nbsp;&nbsp;Intercreditor Agreement](#ib73da2c132214a0690ed0845aa7f0bd2) | [-151-](#ib73da2c132214a0690ed0845aa7f0bd2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[18.2&nbsp;&nbsp;&nbsp;&nbsp;Relationship](#i8f16e3fcfe4246ab9ea58fc8797e5f7a) | [-151-](#i8f16e3fcfe4246ab9ea58fc8797e5f7a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[18.3&nbsp;&nbsp;&nbsp;&nbsp;Delivery of Documentation](#ic037afe639054915940a91d2568860b0) | [-151-](#ic037afe639054915940a91d2568860b0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[18.4&nbsp;&nbsp;&nbsp;&nbsp;Liability](#ie6feddcb26c646a7987a45a14a0936c6) | [-152-](#ie6feddcb26c646a7987a45a14a0936c6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[18.5&nbsp;&nbsp;&nbsp;&nbsp;Exoneration](#ia472ef2ed5d04b338d07b9d4a691c7c2) | [-152-](#ia472ef2ed5d04b338d07b9d4a691c7c2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[18.6&nbsp;&nbsp;&nbsp;&nbsp;Reliance](#i4e879c7cd7a64317aebcb561fbc1aa96) | [-152-](#i4e879c7cd7a64317aebcb561fbc1aa96) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[18.7&nbsp;&nbsp;&nbsp;&nbsp;Resignation and Succession](#i1079428c75c048f4b57ef9075a5d5461) | [-153-](#i1079428c75c048f4b57ef9075a5d5461) |
| **[19.&nbsp;&nbsp;&nbsp;&nbsp;CHANGES TO THE PARTIES](#i2c0e333b33134537a55e6c1de21d7edc)** | **[-153-](#i2c0e333b33134537a55e6c1de21d7edc)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[19.1&nbsp;&nbsp;&nbsp;&nbsp;Represented Parties; Successors and Assigns](#i7af789fe142f45868b814652505d9d86) | [-153-](#i7af789fe142f45868b814652505d9d86) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[19.2&nbsp;&nbsp;&nbsp;&nbsp;Transfers by the Obligors](#i8bc323e18db74618b68e524f2130ad58) | [-153-](#i8bc323e18db74618b68e524f2130ad58) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[19.3&nbsp;&nbsp;&nbsp;&nbsp;Replacement of Facility Agents](#i5ebd4924decc42a6b9edbd140bc48190) | [-154-](#i5ebd4924decc42a6b9edbd140bc48190) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[19.4&nbsp;&nbsp;&nbsp;&nbsp;Accession in the Event of Additional Senior Debt Incurred Under the Common Terms Agreement](#ib1b534798d404429adbca5dd1bef29cc) | [-155-](#ib1b534798d404429adbca5dd1bef29cc) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[19.5&nbsp;&nbsp;&nbsp;&nbsp;Mitigation Obligations; Replacement of Lenders](#ia65a89f4ee6249f1a96d16661b1990d5) | [-156-](#ia65a89f4ee6249f1a96d16661b1990d5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[19.6&nbsp;&nbsp;&nbsp;&nbsp;Transfers by a Facility Lender](#i7243df00992c447eace5448239340d8e) | [-159-](#i7243df00992c447eace5448239340d8e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[19.7&nbsp;&nbsp;&nbsp;&nbsp;Register](#ib19cd5a71d3c4ff1bdb76d26bf9f4bae) | [-160-](#ib19cd5a71d3c4ff1bdb76d26bf9f4bae) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[19.8&nbsp;&nbsp;&nbsp;&nbsp;Resulting Increased Costs](#i4e629777805a4110b10b7f3d44b4e895) | [-160-](#i4e629777805a4110b10b7f3d44b4e895) |
| **[20.&nbsp;&nbsp;&nbsp;&nbsp;SUBORDINATION](#i4e1d01011b184ed7b0aec14f36f8d610)** | **[-160-](#i4e1d01011b184ed7b0aec14f36f8d610)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[20.1&nbsp;&nbsp;&nbsp;&nbsp;Subordination](#ie12b387ecf9848d59b76ff2bda688a1d) | [-160-](#ie12b387ecf9848d59b76ff2bda688a1d) |
| **[21.&nbsp;&nbsp;&nbsp;&nbsp;TAX GROSS-UP AND INDEMNITIES](#i99097c6b89254302961048a00eb82a5f)** | **[-161-](#i99097c6b89254302961048a00eb82a5f)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[21.1&nbsp;&nbsp;&nbsp;&nbsp;Withholding Tax Gross-Up](#i212171cd653942a689bf0923fae0a320) | [-161-](#i212171cd653942a689bf0923fae0a320) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[21.2&nbsp;&nbsp;&nbsp;&nbsp;Payment of Other Taxes](#iaacfb82481b84558abee85275f90105d) | [-161-](#iaacfb82481b84558abee85275f90105d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[21.3&nbsp;&nbsp;&nbsp;&nbsp;Indemnification by the Borrower](#ib3d6e4892c6b442d8c5c301f9dc02c7c) | [-162-](#ib3d6e4892c6b442d8c5c301f9dc02c7c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[21.4&nbsp;&nbsp;&nbsp;&nbsp;Indemnification by the Facility Lenders](#iec5b99b1b2f7408f8f4ec9202f186007) | [-162-](#iec5b99b1b2f7408f8f4ec9202f186007) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[21.5&nbsp;&nbsp;&nbsp;&nbsp;Status of Facility Lenders and Facility Agents](#i092baa9982584bb385acd34ed97611d0) | [-163-](#i092baa9982584bb385acd34ed97611d0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[21.6&nbsp;&nbsp;&nbsp;&nbsp;Refunds](#idc24acc742bf414299881f6f66e3a546) | [-166-](#idc24acc742bf414299881f6f66e3a546) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[21.7&nbsp;&nbsp;&nbsp;&nbsp;Evidence of Payments](#ie7eff17c51b34d34b4634d1085b1f5ee) | [-166-](#ie7eff17c51b34d34b4634d1085b1f5ee) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[21.8&nbsp;&nbsp;&nbsp;&nbsp;Survival](#i522aceba6aee44e3b8a0a773399accf5) | [-167-](#i522aceba6aee44e3b8a0a773399accf5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[21.9&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms](#i923a8ef7b4f0433ba739d6d9f05b1083) | [-167-](#i923a8ef7b4f0433ba739d6d9f05b1083) |
| **[22.&nbsp;&nbsp;&nbsp;&nbsp;INCREASED COSTS](#i44a79dc242e64908a1afbd1cfadb17fe)** | **[-167-](#i44a79dc242e64908a1afbd1cfadb17fe)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[22.1&nbsp;&nbsp;&nbsp;&nbsp;Increased Costs](#icf020cfe6aa049949e570fc8edc09041) | [-167-](#icf020cfe6aa049949e570fc8edc09041) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[22.2&nbsp;&nbsp;&nbsp;&nbsp;Relationship Between Increased Costs and Taxes](#if12167b281d147039f6a74c1d16ceede) | [-169-](#if12167b281d147039f6a74c1d16ceede) |
| **[23.&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS](#ic79853ad96dc4923ab1fd126561ad536)** | **[-169-](#ic79853ad96dc4923ab1fd126561ad536)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.1&nbsp;&nbsp;&nbsp;&nbsp;Termination](#i1eda8e2eb017442da13d74f214d260a3) | [-169-](#i1eda8e2eb017442da13d74f214d260a3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.2&nbsp;&nbsp;&nbsp;&nbsp;Right of Set-Off](#i5b6fbf373a184495bce8679d108c2424) | [-170-](#i5b6fbf373a184495bce8679d108c2424) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.3&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Immunity](#ie2be3fe69a09481cb3eaf73ae1345e2c) | [-171-](#ie2be3fe69a09481cb3eaf73ae1345e2c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.4&nbsp;&nbsp;&nbsp;&nbsp;Expenses](#i6adb79d8d0fb4d8c8ee30f4ab3279a20) | [-171-](#i6adb79d8d0fb4d8c8ee30f4ab3279a20) |

---

-iv-

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---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.5&nbsp;&nbsp;&nbsp;&nbsp;Calculation of Floating Rate Obligations](#i4903e0b285514cdeb606b150d2bf4da0) | [-173-](#i4903e0b285514cdeb606b150d2bf4da0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.6&nbsp;&nbsp;&nbsp;&nbsp;Severability](#ic2d2950bb4ea410389a07b6ea5aa637c) | [-173-](#ic2d2950bb4ea410389a07b6ea5aa637c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.7&nbsp;&nbsp;&nbsp;&nbsp;Confidentiality](#i892920aa306b4b0f90d5243c05d7123e) | [-173-](#i892920aa306b4b0f90d5243c05d7123e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.8&nbsp;&nbsp;&nbsp;&nbsp;Notices](#i7cf2f46a6fab407aaa99554de5011c17) | [-174-](#i7cf2f46a6fab407aaa99554de5011c17) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.9&nbsp;&nbsp;&nbsp;&nbsp;Successors and Assigns; Benefits of Agreement](#i534bf1b675974855a19539c41bdc4af7) | [-176-](#i534bf1b675974855a19539c41bdc4af7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.10&nbsp;&nbsp;&nbsp;&nbsp;Remedies](#i51f7b2ba52ce469a94d60b8e6e241b52) | [-177-](#i51f7b2ba52ce469a94d60b8e6e241b52) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.11&nbsp;&nbsp;&nbsp;&nbsp;Execution in Counterparts; E-Signature](#i8597f58e2b43426c8d116ed795a48fb3) | [-178-](#i8597f58e2b43426c8d116ed795a48fb3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.12&nbsp;&nbsp;&nbsp;&nbsp;Governing Law](#i1b47f3cd38fa4d4da6d084f4f02fcd9e) | [-178-](#i1b47f3cd38fa4d4da6d084f4f02fcd9e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.13&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Jury Trial](#i623e1e6b00a240538414aaa74ff61b0e) | [-179-](#i623e1e6b00a240538414aaa74ff61b0e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.14&nbsp;&nbsp;&nbsp;&nbsp;Consent to Jurisdiction](#i485743e6ba9342308041e10e522f9942) | [-179-](#i485743e6ba9342308041e10e522f9942) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.15&nbsp;&nbsp;&nbsp;&nbsp;Amendments](#i01049d34f0f64aa7be1879deec0e7f0a) | [-179-](#i01049d34f0f64aa7be1879deec0e7f0a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.16&nbsp;&nbsp;&nbsp;&nbsp;Conflicts](#ie5ac0c6b8bd3479397c9379909de10b9) | [-181-](#ie5ac0c6b8bd3479397c9379909de10b9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.17&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness](#ia19583b83f1d4bcea057d9c2d361a89a) | [-181-](#ia19583b83f1d4bcea057d9c2d361a89a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.18&nbsp;&nbsp;&nbsp;&nbsp;Limitations on Liability](#ie15fe1c2eb504b638ec4565214b1ab99) | [-181-](#ie15fe1c2eb504b638ec4565214b1ab99) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.19&nbsp;&nbsp;&nbsp;&nbsp;Survival of Obligations](#i0c2e5ae9f1d3450792cf4638c6b2f1b6) | [-181-](#i0c2e5ae9f1d3450792cf4638c6b2f1b6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.20&nbsp;&nbsp;&nbsp;&nbsp;No Fiduciary Duty](#iacd6845ea18c4998b4f075f928474636) | [-182-](#iacd6845ea18c4998b4f075f928474636) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.21&nbsp;&nbsp;&nbsp;&nbsp;USA Patriot Act Notice](#ic60c3b4854f9481e8c361edbf5bcbcc0) | [-182-](#ic60c3b4854f9481e8c361edbf5bcbcc0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.22&nbsp;&nbsp;&nbsp;&nbsp;Limited Recourse](#i1972da81e22c43fdafe6f3ded707402d) | [-183-](#i1972da81e22c43fdafe6f3ded707402d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.23&nbsp;&nbsp;&nbsp;&nbsp;Entire Agreement](#i4a06e0b3a5d64c7492ecb5507bd5e161) | [-184-](#i4a06e0b3a5d64c7492ecb5507bd5e161) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[23.24&nbsp;&nbsp;&nbsp;&nbsp;Tax Treatment](#i5a00a4ead8d4445a92c6462b24ee3c2d) | [-185-](#i5a00a4ead8d4445a92c6462b24ee3c2d) |

---

**SCHEDULES**

**Schedule 5.1(f)(ii)** Prior Locations&nbsp;&nbsp;&nbsp;&nbsp;5.1(f)(ii)-1

**Schedule 5.2(m)** Real Property Interests&nbsp;&nbsp;&nbsp;&nbsp;5.2(m)-1

**Schedule A** Common Definitions and Rules of Interpretation&nbsp;&nbsp;&nbsp;&nbsp;A-1

**Schedule B – 1** Disbursement Request Form (Term Loans)&nbsp;&nbsp;&nbsp;&nbsp;B-1

**Schedule B – 2** Disbursement Request Form (Working Capital Loans)&nbsp;&nbsp;&nbsp;&nbsp;B-2

**Schedule B – 3** Issuance Request Form (Letters of Credit)&nbsp;&nbsp;&nbsp;&nbsp;B-1

**Schedule C – 1** Table of Requirements for Legal Opinions – Conditions to Closing&nbsp;&nbsp;&nbsp;&nbsp;C-1

**Schedule C – 2** Table of Requirements for Legal Opinions – Conditions to <br>Project Phase 2 Development&nbsp;&nbsp;&nbsp;&nbsp;C-2

**Schedule C – 3** Table of Requirements for Legal Opinions – Conditions to <br>Permitted Internal Expansion&nbsp;&nbsp;&nbsp;&nbsp;C-3

**Schedule D – 1** Construction Budget and Schedule – Construction Budget&nbsp;&nbsp;&nbsp;&nbsp;D-1

**Schedule D – 2** Construction Budget and Schedule – Construction Schedule&nbsp;&nbsp;&nbsp;&nbsp;D-2

**Schedule E** Know Your Customer Documentation&nbsp;&nbsp;&nbsp;&nbsp;E-1

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**Schedule F** Material Permits&nbsp;&nbsp;&nbsp;&nbsp;F-1

**Schedule G** Disclosure Schedule&nbsp;&nbsp;&nbsp;&nbsp;G-1

**Schedule H** Material Project Agreements and Certain Other Contracts&nbsp;&nbsp;&nbsp;&nbsp;H-1

**Schedule I** Change Orders&nbsp;&nbsp;&nbsp;&nbsp;I-1

**Schedule J** Transactions With Affiliates&nbsp;&nbsp;&nbsp;&nbsp;J-1

**Schedule K** [Reserved]&nbsp;&nbsp;&nbsp;&nbsp;K-1

**Schedule L** Schedule of Minimum Insurance&nbsp;&nbsp;&nbsp;&nbsp;L-1

**Schedule M** Independent Insurance Experts&nbsp;&nbsp;&nbsp;&nbsp;M-1

**Schedule N** Senior Creditors' Advisors and Consultants&nbsp;&nbsp;&nbsp;&nbsp;N-1

**Schedule O** Phase 1 Lenders' Reliability Test Criteria&nbsp;&nbsp;&nbsp;&nbsp;O-1

**Schedule P – 1** Replacement Facility Agent Accession Agreement&nbsp;&nbsp;&nbsp;&nbsp;P-1

**Schedule P – 2** New Facility Agent Accession Agreement (Additional Senior Debt)&nbsp;&nbsp;&nbsp;&nbsp;P-2

**Schedule Q – 1** Addresses For Notices To Obligors&nbsp;&nbsp;&nbsp;&nbsp;Q-1

**Schedule Q – 2** Addresses For Notices To Facility Agents And Facility Lenders&nbsp;&nbsp;&nbsp;&nbsp;Q-2

**Schedule R** Base Case Forecast&nbsp;&nbsp;&nbsp;&nbsp;R-1

**Schedule S – 1** Form of General Subordination Agreement&nbsp;&nbsp;&nbsp;&nbsp;S-1

**Schedule S – 2** Form of Obligor Subordination Agreement&nbsp;&nbsp;&nbsp;&nbsp;S-2

**Schedule T** Knowledge Parties&nbsp;&nbsp;&nbsp;&nbsp;T-1

**Schedule U** Real Property Documents&nbsp;&nbsp;&nbsp;&nbsp;U-1

**Schedule V** Schedule of Certain Real Property Rights&nbsp;&nbsp;&nbsp;&nbsp;V-1

**Schedule W** Form of Disbursement Endorsement&nbsp;&nbsp;&nbsp;&nbsp;W-1

**Schedule X** Phase I Environmental Assessments&nbsp;&nbsp;&nbsp;&nbsp;X-1

**Schedule Y** Disqualified Institutions&nbsp;&nbsp;&nbsp;&nbsp;Y-1

**Schedule Z** Disqualified Advisors&nbsp;&nbsp;&nbsp;&nbsp;Z-1

**Schedule AA** Survey Endorsements&nbsp;&nbsp;&nbsp;&nbsp;AA-1

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**COMMON TERMS AGREEMENT**

**FOR THE LOANS**

This **COMMON TERMS AGREEMENT FOR THE LOANS**, dated as of July 28, 2025 (the "*Common Terms Agreement*" or this "*Agreement*"), is made among:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.&nbsp;&nbsp;&nbsp;&nbsp;**VENTURE GLOBAL CP2 LNG, LLC**, a limited liability company organized under the laws of the State of Delaware (the "*Borrower*"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.&nbsp;&nbsp;&nbsp;&nbsp;**VENTURE GLOBAL CP EXPRESS, LLC**, a limited liability company organized under the laws of the State of Delaware (the "*Pipeline Company*"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.&nbsp;&nbsp;&nbsp;&nbsp;**CP2 PROCUREMENT, LLC**, a limited liability company organized under the laws of the State of Delaware ("*Procurement Company*" and, together with the Pipeline Company, the "*Guarantors*" and each a "*Guarantor*"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.&nbsp;&nbsp;&nbsp;&nbsp;**MUFG BANK, LTD.**, as the Facility Agent for the Credit Facility Lender Parties under the Credit Facility Agreement on behalf of itself and the Credit Facility Lender Parties (the "*Credit Facility Agent*"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.&nbsp;&nbsp;&nbsp;&nbsp;each other Facility Agent that is Party hereto from time to time in accordance with this Agreement and the other Finance Documents on behalf of itself and the Facility Lenders under its Facility Agreement, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi.&nbsp;&nbsp;&nbsp;&nbsp;**MUFG BANK, LTD.**, as the intercreditor agent for the Facility Lenders on the terms and conditions set forth in the Intercreditor Agreement (in such capacity, the "*Intercreditor Agent*").

**1.&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS AND INTERPRETATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise expressly provided herein, capitalized terms used in this Agreement and its Schedules shall have the meanings assigned to them in Section 1.3 of Schedule A (*Common Definitions and Rules of Interpretation* – *Definitions*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In this Agreement and the Schedules hereto, except as otherwise expressly provided herein, the interpretation provisions contained in Section 1.2 of Schedule A (*Common Definitions and Rules of Interpretation – Interpretation*) shall apply.

**2.&nbsp;&nbsp;&nbsp;&nbsp;GENERAL PRINCIPLES OF THE LOANS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1&nbsp;&nbsp;&nbsp;&nbsp;Purpose and Scope of the Loans**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall use the proceeds of the Initial Senior Debt solely in accordance with Section 12.1 (*Use of Proceeds*).

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall use the proceeds of any Senior Debt other than the Initial Senior Debt for the respective purposes specified in the relevant Facility Agreement or other applicable Senior Debt Instrument or Permitted Senior Debt Hedging Instrument pursuant to which such Senior Debt is incurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;No Facility Lender or Facility Agent or the Intercreditor Agent is bound to monitor or verify the application of any amount borrowed by the Borrower pursuant to this Agreement or any other Finance Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2&nbsp;&nbsp;&nbsp;&nbsp;Sequence of Advances of Senior Debt**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the satisfaction (or waiver) of the applicable conditions in Article 4 (*Conditions Precedent*) and during the Term Loan Availability Period and/or Working Capital Loan Availability Period, as applicable, Advances by the Credit Facility Lenders under the Credit Facility Agreement in respect of Term Loan Commitments shall be made after (or, in the case of the Advance to be made on the Closing Date, concurrently with) the funding to the Borrower and the Guarantors in full of all of the proceeds of the Equity Funding made on the Closing Date pursuant to the Contribution Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The sequencing of Advances under any Senior Debt (including Additional Senior Debt) other than Initial Senior Debt shall be as set forth in the Senior Debt Instrument for such Senior Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3&nbsp;&nbsp;&nbsp;&nbsp;Loan Disbursement and Letter of Credit Issuance Procedures**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All disbursements of Loans shall be made to the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Disbursements of Loans and, as applicable, issuances of letters of credit shall be requested by the Borrower in a duly completed Disbursement Request substantially in the form set forth in Schedule B-1 (*Disbursement Request Form (Term Loans)*), Schedule B-2 (*Disbursement Request Form (Working Capital Loans)*) or Schedule B-3 (*Issuance Request Form (Letters of Credit)*) (or in such other form as may be required pursuant to a Facility Agreement) and, with respect to Loans, may be requested no more frequently than twice in any calendar month, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;as required for payment of interest and commitment fees during the Availability Period; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;as otherwise provided in the relevant Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall request disbursements of Loans by delivering to the Intercreditor Agent and each Facility Agent in respect of the Loans being

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requested a Disbursement Request in accordance with Section 2.4 (*Pro Rata Advances*) and the terms of the relevant Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each Disbursement Request shall be irrevocable and the obligation of each Facility Lender to make an Advance under its Facility Agreement shall be subject to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;with respect to the Initial Advance of the Term Loans and the issuance of any letters of credit under the Working Capital Facility required to be issued as of the Closing Date, the prior satisfaction or waiver of each of the common conditions precedent set forth in Section 4.1 (*Conditions to Closing Date and Initial Advance*) and Section 4.2 (*Conditions to Each Term Loan Advance*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any Advance of the Term Loans following the Initial Advance, the prior satisfaction or waiver of each of the common conditions precedent set forth in Section 4.2 (*Conditions to Each Term Loan Advance*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any Advance under the Working Capital Facility, including issuance of letters of credit thereunder (other than the issuance of any letters of credit under the Working Capital Facility required to be issued as of the Closing Date), the prior satisfaction or waiver of each of the common conditions precedent set forth in Section 4.3 (*Conditions to Each Advance under the Working Capital Facility*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any Advance made under any other Facility Agreement, the prior satisfaction of each of the conditions precedent to such Advance set forth in such Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4&nbsp;&nbsp;&nbsp;&nbsp;Pro Rata Advances** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except with respect to (i) any Facility Debt Commitments that have been suspended pursuant to any Facility Agreement, (ii) Loans the proceeds of which are to be used for specified purposes, including Working Capital Debt, as specified in the applicable Facility Agreements, and (iii) Advances to pay interest and commitment fees during the Availability Period under a respective Facility Agreement (which shall be borrowed pursuant to the terms of such respective Facility Agreement), for the Project Phase 1 Development, the Borrower shall borrow concurrently under each of the Facility Agreements whose Facility Debt Commitments have not been fully borrowed or cancelled and shall borrow *pro rata* in the proportion that the unborrowed portion of each Facility Lender's Facility Debt Commitment bears to the total of the unborrowed portion of the Senior Debt Commitments of all relevant Facility Lenders under the

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applicable Facility Agreements. If Advances cannot be made exactly *pro rata* due solely to minimum disbursement amounts and required integral multiples of disbursements under any Facility Agreement, Advances shall be made in amounts as near to such exactly proportionate amounts as possible, to the extent reasonably practicable and in a manner that is consistent, fair and equitable across affected Facility Agreements, and shall be deemed to be Advances in compliance with this Section 2.4 (*Pro Rata Advances*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall promptly notify the Intercreditor Agent (providing reasonably sufficient details) if funds are not received from any Facility Lender by the close of business on the next succeeding Business Day after the date on which any such disbursement is due to be received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5&nbsp;&nbsp;&nbsp;&nbsp;Interest**

Interest shall accrue on each Loan at the times and in the amounts specified in the relevant Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.6&nbsp;&nbsp;&nbsp;&nbsp;Currency**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall only submit a Disbursement Request denominated in whole US Dollars except in the case of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the final Advance under a Facility Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any Advance, in whole or in part, in respect of the payment of interest or commitment fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;All Loans shall be stated, made and disbursed in US Dollars.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The portion of any Advance comprising funds under any Facility Agreement shall not exceed the available Facility Debt Commitment under such Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The minimum quantum of any Advance under a Facility Agreement shall be as specified in such Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall make all payments of any amount with respect to the Loans (whether comprising fees, interest, principal, premium, if any, or Funding Losses) in US Dollars.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement and Consent to Bail-In of Affected Financial Institutions**

Notwithstanding anything to the contrary in any Finance Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution

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arising under any Finance Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the effects of any Bail-in Action on any such liability, including, if applicable:

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.8&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement Regarding Any Supported QFCs**

To the extent that the Finance Documents provide support, through a guarantee or otherwise, for Permitted Hedging Instruments or any other agreement or instrument that is a QFC (such support, "*QFC Credit Support*" and each such QFC a "*Supported QFC*"), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the "*U.S. Special Resolution Regimes*") in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Finance Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In the event a Covered Entity that is party to a Supported QFC (each, a "*Covered Party*") becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such

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Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Finance Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Finance Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;As used in this Section 2.8 (*Acknowledgement Regarding Any Supported QFC*s), the following terms have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;"*BHC Act Affiliate*" of a party means an "affiliate" (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;"*Covered Entity*" means any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;a "covered entity" as that term is defined in, and interpreted in accordance with, 12 C.F.R. §252.82(b);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;a "covered bank" as that term is defined in, and interpreted in accordance with, 12 C.F.R. §47.3(b); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;a "covered FSI" as that term is defined in, and interpreted in accordance with, 12 C.F.R. §382.2(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;"*Default Right*" has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;"*QFC*" has the meaning assigned to the term "qualified financial contract" in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).

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**3.&nbsp;&nbsp;&nbsp;&nbsp;REPAYMENT, PREPAYMENT AND CANCELLATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1&nbsp;&nbsp;&nbsp;&nbsp;CTA Payment Dates**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the relevant Facility Agreement, the Borrower shall pay the interest, and repay the principal on each Loan made available to it under each Facility Agreement in installments, which shall be payable on each CTA Payment Date up to and including the Final Maturity Date under such Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall ensure that any Senior Debt Instrument (other than any Indenture) provides that the dates for payment of principal under each such Senior Debt Instrument coincide with the Quarterly Payment Dates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The interest periods, date of first payment of interest and date of first repayment of principal in respect of Loans shall be as specified in the Facility Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The amount of Senior Debt Obligations payable by the Borrower on any CTA Payment Date shall be calculated in accordance with the provisions of the Senior Debt Instrument or Permitted Senior Debt Hedging Instrument pursuant to which such Senior Debt was incurred as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;in respect of principal payments, based on the Amortization Schedule or other principal repayment requirements applicable under the applicable Facility Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;in respect of interest payments, in accordance with the provisions of the applicable Facility Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;in respect of Permitted Senior Debt Hedging Liabilities, in accordance with the provisions of the applicable Permitted Senior Debt Hedging Instrument; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;in respect of all other Senior Debt Obligations, in accordance with the applicable Senior Debt Instrument and the Finance Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall repay on the Final Maturity Date set forth under each Facility Agreement the full amount of the Loans then outstanding under each such Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;If any payment due under a Loan or any other amount owed to any Facility Lender falls due on a day which is not a "business day" under the terms of the applicable Facility Agreement, the due date for such payment shall be determined in accordance with the terms of such Facility Agreement, except in the case of the Final Maturity Date under a Facility Agreement, in which case the due date for such payment with respect to

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such Facility Agreement shall be the immediately preceding Business Day; *provided* that, in each case, if the due date for any payment under a Loan is extended or shortened as a result of such determination, such extended or shortened period, as the case may be, shall be used in the computation of the amount of interest owed on such extended or shortened due date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2&nbsp;&nbsp;&nbsp;&nbsp;Right of Repayment and Cancellation in Relation to a Single Facility Lender**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in the relevant Facility Agreement, if any of the circumstances in Section 19.5(c) (*Mitigation Obligations; Replacement of Lenders*) occurs (other than an Illegality Event, which is addressed under Section 3.4(a)(vi) (*Mandatory Prepayments - Illegality*)), the Borrower shall have the right (but not the obligation) to give the Intercreditor Agent and the relevant Facility Lender at least three Business Days' written notice of its intention to cancel the Facility Debt Commitments and repay the Loans of the Facility Lender affected by the relevant circumstance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;On receipt of a notice referred to in clause (a) above:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Facility Debt Commitment of such Facility Lender shall immediately be reduced to zero; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall, subject to Section 3.5(c) (*Voluntary Prepayments*) repay (on a non-*pro rata* basis) all Senior Debt Obligations owed to such Facility Lender on the last day of the Relevant Interest Period which ends after the Borrower has given notice under clause (a) above (or, if earlier, the date specified by the Borrower in such notice or as required by law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Such repayment may be made with the proceeds of Replacement Debt incurred in accordance with Section 6.3 (*Replacement Debt*) or with other funds then available to the Borrower and permitted under the Finance Documents to be used for such purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3&nbsp;&nbsp;&nbsp;&nbsp;No Repayments or Prepayments**

No repayments or prepayments of any Loan may be made other than the repayments or prepayments expressly required or permitted by this Article 3 (*Repayment, Prepayment and Cancellation*) and, with respect to each Loan, the applicable Facility Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4&nbsp;&nbsp;&nbsp;&nbsp;Mandatory Prepayments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except in the following circumstances, no mandatory prepayments of the Loans are required to be made by the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Insurance and Condemnation Proceeds*

The Borrower shall make any prepayments of the Loans required to be made with respect to certain Insurance Proceeds and Condemnation Proceeds in accordance with Section 5.2 (*Insurance and Condemnation Proceeds*) of the Common Security and Account Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;*Performance Liquidated Damages*

Any Performance Liquidated Damages in excess of $20 million (in the aggregate across the Material Construction Contracts) that are paid to any Obligor pursuant to a Material Construction Contract shall be deposited into the Additional Proceeds Prepayment Account(s) and applied by the Borrower to make prepayments of the Loans, except to the extent such amounts are applied to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;complete or repair the Project Facilities in respect of which the Performance Liquidated Damages were paid or to pay Project Costs in respect of the Project Facilities within 180 days following receipt thereof (plus up to an additional 90 days if a commitment to complete, repair, refurbish or improve such Project Facilities or to pay such Project Costs is entered into within 180 days following the receipt of such proceeds); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;repay or reimburse providers of Equity Funding to the extent such Equity Funding was used to complete or repair the Project Facilities in respect of which the Performance Liquidated Damages were paid or to pay Project Costs in respect of the Project Facilities; *provided* that, in no event shall any Equity Contribution be repaid or reimbursed pursuant to this clause (B)". 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;*LNG SPA Prepayment Events*

The Borrower shall make prepayments (if any) of Loans and cancel Senior Debt Commitments as may be required upon the occurrence of an LNG SPA Prepayment Event in accordance with Section 8.2 (*LNG SPA Mandatory Prepayment*).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;*Termination Payments*

In the event that the Borrower receives any termination payments or proceeds in connection with the termination of any Material Project Agreement, such amounts shall be deposited into the Additional Proceeds Prepayment Account(s) to make prepayments of the Loans, except to the extent such amounts are applied to any Replacement Material Contract within 60 days following termination of such Material Project Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;*Net Cash Proceeds from the Sale of Project Property*

To the extent that Net Cash Proceeds are received by an Obligor from the sale of Project Property (other than asset sales permitted under Section 12.17 (*Sale of Project Property*)), and those Net Cash Proceeds are not used to purchase replacement assets for the then-applicable Project Property within 270 days following receipt thereof, the Borrower shall make prepayments of the Loans in the amount of those unused proceeds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;*Illegality*

Except as otherwise provided in a Facility Agreement in respect of Advances based on SOFR, upon the Intercreditor Agent providing notice to the Borrower of an Illegality Event with respect to a Facility Lender (together with the related information about such illegality described in Section 19.5 (*Mitigation Obligations; Replacement of Lenders*)), and subject to Section 19.5 (*Mitigation Obligations; Replacement of Lenders*):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the Facility Debt Commitment of such Facility Lender shall be suspended until such date during the applicable Availability Period that such Facility Lender notifies its Facility Agent that the circumstances giving rise to such determination no longer exist; *provided* that, if the Borrower notifies the affected Facility Lender and the Intercreditor Agent that it intends to exercise its rights under Section 19.5 (*Mitigation Obligations; Replacement of Lenders*) to require an assignment of the Facility Lender's rights, interests and commitments as a result of the Illegality Event, the Facility Debt Commitments of such Facility Lender shall be transferred to the assignee Facility Lender and not suspended as set forth herein; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall repay any principal and interest outstanding in respect of such Facility Lender's Loans on the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;the next succeeding Quarterly Payment Date falling at least 60 days after the date on which the Intercreditor Agent has provided such notice to the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;the date (if any) required under applicable law.

For the avoidance of doubt, the Borrower may also require the Facility Lender to assign its rights, interests and obligations in accordance with Section 19.5 (*Mitigation Obligations; Replacement of Lenders*) upon the occurrence of an Illegality Event, which assignment shall extinguish the need for this mandatory prepayment if it occurs prior to the date such mandatory prepayment is required to have occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;*Restricted Payments*

Except if a Loan Facility Declared Default has occurred and is Continuing following the delivery of the notice provided under Section 4.6(b) (*Control and Investment of Funds in Accounts*) of the Common Security and Account Agreement (in which case the cash waterfall provided in Section 4.8 (*Accounts During the Continuance of a Declared Event of Default*) of the Common Security and Account Agreement shall apply), if, at any time after the end of the quarter in which the Project Phase 1 Completion Date occurs, the Borrower has not met the conditions to make a Restricted Payment pursuant to Section 11.1 (*Conditions to Restricted Payments*) for four consecutive quarters (other than as a result of a failure to meet the condition in Section 11.1(f) (*Conditions to Restricted Payments*), which is addressed instead by the mandatory prepayment in sub-clause (iii) (*LNG SPA Prepayment Events*) above), but solely to the extent such mandatory prepayment was in fact made in connection with such event, and for as long as such failure to meet such conditions is continuing, on each Quarterly Payment Date during such period the Borrower shall make a mandatory prepayment with the amount that (x) has been unavailable for a Restricted Payment for four consecutive fiscal quarters and (y) would otherwise have been available for a Restricted Payment in accordance with Section 4.5(n)(ii) (*Deposits and Withdrawals – Distribution Account*) of the Common Security and Account Agreement *less* any amounts reasonably estimated to be due and payable at any higher level of

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the cash waterfall within the 30 day period following such Quarterly Payment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;*[Reserved]*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;*[Reserved]*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;*Replacement Debt* 

The Borrower shall use the proceeds of any Replacement Debt (and Indebtedness not permitted to be incurred under the Finance Documents), in each case, after accounting for any related Hedging Termination Amount and related fees and expenses, to prepay or repay Senior Debt and/or replace all or part of the Facility Debt Commitments in accordance with Section 6.3 (*Replacement Debt*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Mandatory prepayments to Facility Lenders will be made with accrued interest on the amount so prepaid, and upon the prior written notice to each Facility Agent required by the applicable Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in Section 3.7 (*Pro Rata Payment*), mandatory prepayments will be applied first, *pro rata* among each Senior Creditor Group under this Agreement (and in the case of outstanding Term Loans, *pro rata*) based on the Loans outstanding on the date of such prepayment and second, *pro rata* to the cash collateralization of any outstanding Letters of Credit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Except for a mandatory prepayment in accordance with sub-clause 3.4(a)(ii) (*Mandatory Prepayments – Performance Liquidated Damages*) above and/or incurrence of Replacement Debt pursuant to Section 6.3 (*Replacement Debt*) below, which shall be applied *pro rata* against subsequent scheduled payments, all mandatory prepayments under this Section 3.4 (*Mandatory Prepayments*) shall be paid and applied in inverse order of maturity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5&nbsp;&nbsp;&nbsp;&nbsp;Voluntary Prepayments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in any applicable Facility Agreement with respect to voluntary prepayments, the Borrower shall have the right, upon not less than three Business Days' (or in the case of a voluntary prepayment in connection with the incurrence of Replacement Debt, two Business Days) prior written notice to the Intercreditor Agent and each Facility Agent and, to the extent such voluntary prepayment is to be made with the net proceeds received in respect of any Replacement Debt, upon delivery of the certifications required pursuant to Section 6.3 (*Replacement Debt*) with the advanced notice contemplated therein to the

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Intercreditor Agent and each Facility Agent, to make voluntary prepayments of Loans, in multiples of $1,000,000, or in such other amounts related to the net proceeds received in respect of any Replacement Debt, in each case either in whole or in part, at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each notice of voluntary prepayment shall be irrevocable, except that a notice of voluntary prepayment may state that such notice is conditioned upon the effectiveness of other credit facilities or debt instruments in respect of Replacement Debt, in which case such notice may be revoked by the Borrower (by written notice to the Intercreditor Agent and each Facility Agent on or prior to the specified effective date) if such condition is not satisfied. Within 30 days after the revocation of the notice of voluntary prepayment in accordance with the provisions of this clause (b), the Borrower shall pay any Funding Losses incurred by any Facility Lender as a result of such notice and revocation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In the case of a partial voluntary prepayment, the Borrower may not make such voluntary prepayment with respect to Term Loans prior to the Project Phase 1 Completion Date unless it certifies to the Intercreditor Agent (and the Independent Engineer concurs with such certification in writing; *provided* that, no such confirmation will be required for any reduction with respect to any Replacement Debt) that after giving effect to such voluntary prepayment, the Borrower shall satisfy the In-Construction Sufficiency Condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in Section 3.7 (*Pro Rata Payment*), voluntary prepayments will be applied *pro rata* among each Senior Creditor Group under this Agreement (and in the case of outstanding Term Loans, *pro rata*, except as otherwise provided in the Credit Facility Agreement) based on the Loans outstanding on the date of such prepayment and otherwise as directed by the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6&nbsp;&nbsp;&nbsp;&nbsp;Prepayment Fees and Funding Losses**

Any prepayment (whether a mandatory prepayment or voluntary prepayment) of Loans or cancellation of Facility Debt Commitments, including prepayments or cancellations made in accordance with this Article 3 (*Repayment, Prepayment and Cancellation*), Section 6.3 (*Replacement Debt*) or Section 19.5 (*Mitigation Obligations; Replacement of Lenders*) shall, in each case, be made without any prepayment charges, fees, premium, penalty or other charges other than (a) Funding Losses incurred (if any are required to be paid pursuant to the terms of the applicable Facility Agreement) and (b) prepayment fees, premia, penalties or charges specified in any Facility Agreement, including for Working Capital Debt. Unless otherwise specified in an individual Facility Agreement, Funding Losses (if any) with respect to any prepayment shall be payable only if such prepayment is made on a date other than a CTA Payment Date.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.7&nbsp;&nbsp;&nbsp;&nbsp;Pro Rata Payment**

Except as specified in Section 6.3(a)(viii) (*Replacement Debt*) or to the extent that any Facility Lender waives or declines receipt of its Pro Rata Payment of any prepayment in accordance with the terms of any Senior Debt Instrument to which it is a party, at any time the Borrower makes a payment or prepayment in whole or in part of the Senior Debt Obligations owed to one or more Facility Lenders, the Borrower shall make a Pro Rata Payment to all other Facility Lenders (and in the case of outstanding Term Loans, *pro rata*); *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;except as otherwise provided in any individual Facility Agreement, the mandatory prepayments described in Section 3.4(a)(vi) (*Mandatory Prepayments – Illegality*) will be applied *pro rata* only to the affected Loans and not *pro rata* to each Loan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) a voluntary prepayment of Loans made under the Credit Facility Agreement or any other Facility Agreement for Loans that are not Working Capital Debt may be made without a *pro rata* repayment of Loans under any Facility Agreement for Working Capital Debt (and, conversely, a voluntary prepayment of Loans under any Facility Agreement for Working Capital Debt may be made without a voluntary prepayment of Loans under any other Facility Agreement) and (ii) only the mandatory prepayments set forth in Section 3.4(a)(iii) (*Mandatory Prepayments* – *LNG SPA Prepayment Events*) (but only to the extent set forth in, and subject to the requirements of, Section 8.2 (*LNG SPA Mandatory Prepayment*)) will be applied *pro rata* with respect to any Working Capital Debt; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the following prepayments will not be subject to the *pro rata* payment requirement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;a voluntary or mandatory prepayment of Loans to Facility Lenders under a Facility Agreement, whose Loans thereunder have been amended and extended in accordance with its terms, to the extent such Facility Lenders have agreed to a non *pro rata* prepayment, in which case prepayments to such Facility Lenders shall be made on the basis set forth in the relevant Facility Agreement, as amended and extended, in accordance with the terms of such agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a voluntary prepayment of Loans to only certain affected Facility Lenders or only Facility Lenders under certain affected Facility Agreements made pursuant to Section 3.2 (*Right of Repayment and Cancellation in Relation to a Single Facility Lender*) or Section 19.5 (*Mitigation Obligations; Replacement of Lenders*) or comparable provisions to those described in Section 3.2 (*Right of Repayment and Cancellation in Relation to a Single Facility* 

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*Lender*) or Section 19.5 (*Mitigation Obligations; Replacement of Lenders*) under a Facility Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;a voluntary prepayment that is financed with proceeds of Replacement Debt; *provided* that, such prepayment will be *pro rata* across all then-outstanding Loans (other than Working Capital Debt), except as otherwise required by Section 6.3(a)(i)(C) (*Replacement Debt*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;a payment or prepayment to a Senior Creditor if such payment or prepayment is made in the applicable circumstances set forth in sub-clauses (B), (C), (D) and (E) of Section 2.3(a)(ii) (*Payments and Prepayments – Pro Rata Payment of Senior Debt Obligations*) of the Common Security and Account Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.8&nbsp;&nbsp;&nbsp;&nbsp;Reductions and Cancellations of Facility Debt Commitments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may cancel Facility Debt Commitments, in whole or in part, in multiples of $5,000,000, *pro rata* among each Facility Lender (except, in each case, in the case of a cancellation of Facility Debt Commitments in accordance with the Facility Agreement, as specified in Section 6.3(a)(viii) (*Replacement Debt*) or otherwise in the case where the Borrower is entitled to make a non-*pro rata* cancellation or prepayment pursuant to Section 3.2 (*Right of Repayment and Cancellation in Relation to a Single Facility Lender*) and Section 3.7 (*Pro Rata Payment*)), subject to any minimum cancellation amounts required under the Facility Agreement, by giving at least three Business Days' prior written notice to the Intercreditor Agent and the applicable Facility Agent or such other notice period required under the applicable Facility Agreement; *provided* that, a notice of cancellation may state that such notice is conditioned upon the effectiveness of other credit facilities or debt instruments in respect of Replacement Debt, in which case such notice may be revoked by the Borrower (by written notice to the Intercreditor Agent and the applicable Facility Agent on or prior to the specified effective date) if such condition is not satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Within 30 days of the date of the notice of cancellation delivered in accordance with sub-clause (a) above, the Borrower shall pay any Funding Losses incurred by any Facility Lender as a result of such notice and revocation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may not make a voluntary cancellation under this Section 3.8 (*Reductions and Cancellations of Facility Debt Commitments*) with respect to the Term Loan Commitments prior to the Project Phase 1 Completion Date unless it certifies to the Intercreditor Agent (and the Independent Engineer concurs with such certification in writing; *provided* 

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that, no such confirmation will be required for any cancellation with respect to any Replacement Debt) that, after giving effect to such voluntary cancellation, the Borrower shall satisfy the In-Construction Sufficiency Condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in this Section 3.8 (*Reductions and Cancellations of Facility Debt Commitments*) to the contrary, the procedure for cancellation related to a mandatory prepayment pursuant to Section 3.4 (*Mandatory Prepayments*) shall be subject to the terms of the applicable mandatory prepayment in Section 3.4 (*Mandatory Prepayments*) or elsewhere in the Finance Documents and not this Section 3.8 (*Reductions and Cancellations of Facility Debt Commitments*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.9&nbsp;&nbsp;&nbsp;&nbsp;Late Payments**

Except as otherwise provided under any Facility Agreement, if any amounts required to be paid by the Borrower under this Agreement or the other Finance Documents (including principal or interest payable on any disbursement and any fees and other amounts otherwise payable to any Secured Party) remain unpaid after such amounts are due (whether at stated maturity, by acceleration or otherwise), the Borrower shall pay interest on the overdue amount (including, to the extent allowable under applicable law, on overdue interest) from the date due until such past due amounts are paid in full at a per annum rate equal to the Default Rate and such interest shall be payable on demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.10&nbsp;&nbsp;&nbsp;&nbsp;No Borrowing or Reinstatement**

No amounts of Loans which have been cancelled, repaid or prepaid in accordance with this Article 3 (*Repayment, Prepayment and Cancellation*) and the relevant Facility Agreement may be reborrowed; *provided* that, Working Capital Debt may be repaid and reborrowed in accordance with the terms of its applicable Facility Agreement.

**4.&nbsp;&nbsp;&nbsp;&nbsp;CONDITIONS PRECEDENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Closing Date and Initial Advance**

The Closing and the obligation of each Facility Lender to make available its Initial Advance shall be subject to the satisfaction or waiver by each of the Facility Lenders of each of the following, and no other, common conditions precedent, in each case in form and substance reasonably satisfactory to, each of the Facility Lenders, and, where applicable, with sufficient copies for, each Facility Agent acting on the instructions of the Facility Lenders under the applicable Facility Agreement:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Execution and Delivery of the Finance Documents*. Receipt by the Facility Lenders, Collateral Agent and the Intercreditor Agent of true, complete and correct copies of the Finance Documents (other than Direct Agreements, which are addressed in clause (b) (*Delivery of Material Project Agreements; Direct Agreements*) below) and by the Account Bank of the Common Security and Account Agreement, executed and delivered by the parties thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Delivery of Material Project Agreements; Direct Agreements*. Receipt by the Facility Lenders and the Intercreditor Agent of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Initial LNG SPAs (all of which, as of the Closing Date, constitute Required LNG SPAs), each of which shall have been duly authorized, executed and delivered by the parties thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;as to which, in respect of the Required LNG SPAs, (1) all conditions precedent thereunder shall have been satisfied or waived by or concurrently with the CP Satisfaction Date, (2) the CP Satisfaction Date shall occur on or prior to the date of the Initial Advance, (3) no event of LNG SPA Force Majeure shall have occurred and be continuing and (4) no default, event of default or other event or condition shall have occurred and be continuing that provides the applicable LNG Buyer the right to cancel or terminate such Required LNG SPA in accordance with the terms thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Obligor that is party to such agreement certifying that (1) the copy of such agreement provided to the Facility Lenders is a true, correct and complete copy of such document, and (2) such agreement is in full force and effect and no term or condition of such agreement has been amended from the form thereof delivered to the Facility Lenders prior to the Closing Date (other than amendments in accordance with the Finance Documents and provided to the Intercreditor Agent); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any Required LNG SPA, a Direct Agreement, substantially in the form attached as Schedule G (*Forms of Direct Agreement*) of the Common Security and Account Agreement (or otherwise reasonably acceptable to the Facility Lenders);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;with respect to each Phase 1 Material Project Agreement (other than any Subsequent Material Project Agreement or any Replacement Material Contract and other than as provided in sub-clause (i) above with respect to the LNG SPAs):

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;a copy of such agreement (other than any Restricted Document which shall be delivered in accordance with the requirements of Section 12.6(c) (*Confidentiality*) of the Common Security and Account Agreement and Section 23.7 (*Confidentiality*) below), which shall have been duly authorized, executed and delivered by the parties thereto, as to which no force majeure event (as defined in each such Phase 1 Material Project Agreement) has occurred and is continuing except as set forth on Schedule H (*Material Project Agreements and Certain Other Contracts*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Obligor that is party to such agreement certifying that (1) the copy of such agreement provided to the Facility Lenders is a true, correct and complete copy of such document, and (2) such agreement is in full force and effect and no term or condition of such agreement has been amended from the last form thereof delivered to the Facility Lenders prior to the Closing Date (other than amendments in accordance with the Finance Documents and provided to the Intercreditor Agent); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;a Direct Agreement, either substantially in the form attached as Schedule G (*Forms of Direct Agreement*) of the Common Security and Account Agreement (or otherwise reasonably acceptable to the Collateral Agent), with each counterparty to such agreement, to the extent such Direct Agreement is required to be delivered by the Closing Date pursuant to Section 3.4 (*Direct Agreements*) of the Common Security and Account Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;a notice of collateral assignment reasonably acceptable to the Collateral Agent, delivered to each counterparty with respect to the following agreements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;Fabrication and Assembly Agreement No. 10214 (CP2 Phase 1 HRSG OFF-SITE ASSEMBLY), dated as of May 13, 2025, by and between PCI and the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;Engineering, Procurement, and Fabrication Agreement (Phase 1), dated as of May 17, 2024, by and between Shaw USA, LLC and the Procurement Company (as assignee of Venture Global Operations Support, LLC pursuant to that certain Assignment and Assumption Agreement dated as of Mary 17, 2024), as supplement by that certain Change Order No.1, dated as of July 10, 2025); and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;any Phase 1 Material Project Document for which the applicable Obligor must use commercially reasonable efforts to obtain, prior to or concurrently with Closing (and, if not obtained prior to Closing, following the Closing Date), Direct Agreements with the Collateral Agent pursuant to Section 3.4(ii) (*Direct Agreements*) of the Common Security and Account Agreement which are not obtained to prior to Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;with respect to each Phase 1 Material Project Agreement (other than any Subsequent Material Project Agreement or any Replacement Material Contract), a copy of all performance security, letters of credit and guarantees (A) required to be delivered under each Phase 1 Material Project Agreement by the Phase 1 Material Project Counterparties as of the Closing Date and (B) delivered by one or more parent companies of the Pledgor to Phase 1 Material Project Counterparties (all of which, for the avoidance of doubt, will be replaced by Letters of Credit following the Closing) and a certificate of each Obligor that copies of all such performance security, letters of credit and guarantees required to be delivered pursuant to this clause (iv) have been provided to the Facility Lenders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;all Material Project Agreements (or any amendments thereto) that were made available for viewing to the Facility Lenders after the date of the Commitment Letter shall be in form and substance satisfactory to the Facility Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Material Project Agreement Default*. As of the Closing Date, no material default or event of default of any Obligor, and to the Knowledge of each Obligor, no material default or event of default of any counterparty exists under any Phase 1 Material Project Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*FERC Order*. The FERC Order:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;has been obtained by the Borrower with respect to the LNG Facility and by the Pipeline Company with respect to the CP Express Pipeline;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;is final and in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;satisfies the Permit Appeal Qualification; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;is free from conditions and requirements:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the compliance with which could reasonably be expected to have a Material Adverse Effect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;that the applicable Obligor does not expect to be able to satisfy on or prior to the commencement of the relevant stage of Project Phase 1 Development except to the extent that failure to satisfy such condition or requirement could not reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Export Authorizations*. Each of the FTA Authorization and the Non-FTA Authorization:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;has been obtained by the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;satisfies the Permit Appeal Qualification; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;is free from conditions or requirements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the compliance with which could reasonably be expected to have a Material Adverse Effect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;that the Borrower does not expect to be able to satisfy on or prior to the commencement of the relevant stage of the Project Phase 1 Development except to the extent that failure to so satisfy such condition could not reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Opinions from Counsel*. Receipt by the Intercreditor Agent and the Credit Facility Secured Parties of the legal opinions and reliance letters set forth in Schedule C - 1 (*Table of Requirements for Legal Opinions – Conditions to Closing*) and in accordance with the requirements therein, with such changes thereto as may be in form and substance reasonably satisfactory to the Intercreditor Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;*Project Development*. Receipt by the Intercreditor Agent of true, complete and correct copies of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Obligors attaching the Construction Budget and Schedule with respect to the Project Phase 1 Development, substantially in the form attached as Schedule D - 1 (*Construction Budget and Schedule – Construction Budget*) and Schedule D - 2 (*Construction Budget and Schedule – Construction Schedule*) hereto, which shall include a list or schedule of the amount of Project Costs paid by the Obligors prior to the Closing Date, and

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certifying that: (A) such budget and schedule is the best reasonable estimate of the information set forth therein as of the date of such certificate; (B) such budget and schedule is based on assumptions made in good faith and believed reasonable at the time made in light of the legal and factual circumstances then applicable to the Project Phase 1 Development and is consistent with the requirements of the Transaction Documents as of the Closing Date; and (C) the sum of (1) the Term Loan Commitments in effect as of the Closing Date, (2) the proceeds of the Equity Contribution that are not applied to repay in full the Bridge Loan and (3) the Phase 1 Minimum Assumed Commissioning Cargo Proceeds, as determined as of the Closing Date, equals or exceeds the remaining Project Costs (including contingency set forth in the Construction Budget and Schedule and the final report of the Independent Engineer contemplated by clause (iii) below) necessary for the Project to achieve the Phase 1 Project Completion Date on or prior to the Phase 1 LNG Facility Date Certain;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Obligors attaching the Base Case Forecast as of the Closing Date, which demonstrates compliance as of the Closing Date with the Base Case Sizing Criteria, and certifying that: (A) the projections in the Base Case Forecast were made in good faith; and (B) the assumptions on the basis of which such projections were made were believed by the Borrower (when made and delivered) to be reasonable and consistent with the Construction Budget and Schedule and the Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;a final report of the Independent Engineer (including certifications and discussions therein relating to the adequacy of the contingency (in an amount equal to not less than the Contingency Reserve Amount) relating to the Project to satisfy potential cost overruns with respect to the Project Phase 1 Development), together with a reliance letter from the Independent Engineer in form and substance reasonably satisfactory to the Credit Facility Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;a final report of the CCRA Consultant, together with a reliance letter from the CCRA Consultant in form and substance reasonably satisfactory to the Credit Facility Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;a final report prepared by each Market Consultant, together with a reliance letter from such Market Consultant in form and substance reasonably satisfactory to the Credit Facility Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;final reports prepared by the Phase 1 Environmental Assessment Consultant, described on Schedule X (*Phase I Environmental* 

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*Assessments*) hereto, together with a reliance letter from such Phase 1 Environmental Assessment Consultant in form and substance reasonably satisfactory to the Credit Facility Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Independent Engineer (A) concurring with the Borrower's certification in sub-clause (i) above and (B) validating the Obligors' list or schedule of the amount of Project Costs paid by the Borrower prior to the Closing Date referred to in sub-clause (i) above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;a final report prepared by the Environmental Consultant, together with a reliance letter from such Environmental Consultant in form and substance reasonably satisfactory to the Credit Facility Agent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;a final report prepared by the Compliance Assessment Consultant, together with a reliance letter from such Compliance Assessment Consultant in form and substance reasonably satisfactory to the Credit Facility Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;*Financial Statements*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Receipt by the Intercreditor Agent of a certified copy of (A) the most recent pro forma balance sheet of each Obligor and (B) (x) the unaudited consolidating balance sheet of the Obligors as of March 31, 2025, (y) the unaudited consolidating statement of operations of the Obligors for the quarter ended on March 31, 2025 and the portion of the fiscal year through the end of such quarter, and (z) the unaudited statement of cash flows of the Obligors for the portion of the fiscal year through the end of such quarter; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;to the extent (A) delivered to the Borrower or any Guarantor under any Material Project Agreement and (B) requested (prior to the Closing Date) by the Credit Facility Agent or any Credit Facility Lender, financial statements of the Phase 1 Material Project Counterparties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Insurance*. Receipt by the Intercreditor Agent of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;a report from the Insurance Advisor, prepared in accordance with generally accepted consulting practices together with a certificate of the Insurance Advisor confirming that the insurance policies to be provided in compliance with Section 12.28 (*Insurance Covenant*) conform to the requirements specified in the Finance Documents and are in accordance with Prudent Industry Practices; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a reliance letter from the Insurance Advisor in form and substance reasonably satisfactory to the Credit Facility Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;*Real Property*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Receipt by the Collateral Agent of (A) a Survey and (B) a Title Policy (with respect only to the LNG Facility Site on which the Phase 1 LNG Facility will be located) conforming to the requirements specified in the definition of each such term; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Receipt by the Collateral Agent of an estoppel certificate from (A) the lessor for each Lease, and (B) the grantor for each Access License Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;*Bank Regulatory Requirements*. Receipt by the Intercreditor Agent and each other Finance Party that is a party to this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;at least three Business Days prior to the Closing Date, with respect to each of the Collateral Parties, of a certified electronic copy of each of the documents listed in Schedule E (*Know Your Customer Documentation*) that are required in order for each Facility Lender to carry out all necessary "know your customer" or similar requirements and such other information as may be reasonably required by such Facility Lender to address such requirement, including those reasonably required to ensure compliance with anti-money laundering procedures (including the USA Patriot Act) in its relevant jurisdiction, in each case to the extent not otherwise delivered to the relevant Finance Party at or prior to the Closing Date (and provided that any subsequent changes in such documents or updates to information contained therein shall be so delivered in accordance with this clause (k)(i)); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;at least three Business Days prior to the Closing Date, a Beneficial Ownership Certification from the Borrower if it qualifies as a "legal entity customer" under the Beneficial Ownership Regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;*Officer's Certificates*. Receipt by the Intercreditor Agent of a copy of a duly executed certificate of each of the Collateral Parties and, with respect to sub-clauses (i) - (iii) below, of each Affiliated Service Counterparty:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;attaching a copy of the Constitutional Documents of each of the Collateral Parties and each Affiliated Service Counterparty, together with any amendments thereto (and certifying that such Constitutional Documents have not been revoked or amended since the date of the attached Constitutional Documents);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;attaching copies of resolutions approving the Collateral Parties' and the Affiliated Service Counterparties' entry into the Finance Documents and Phase 1 Material Project Agreements, as applicable (and certifying that such resolutions have not been revoked or amended since the date of adoption thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;attaching incumbency certificates in respect of signatories; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;certifying that the conditions in clauses (c) (*Material Project Agreement Default*) and (m) (*Representations and Warranties*) of this Section 4.1 (*Conditions to Closing Date and Initial Advance*) have been met;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;*Representations and Warranties*. Each of the representations and warranties of the Obligors as set forth under Article 5 (*Representations and Warranties of the Obligors*) of this Agreement is true and correct in all material respects (except for those qualified by materiality or Material Adverse Effect, each of which shall be true and correct in all respects) as to such Obligor on and as of the Closing Date as if made on and as of the Closing Date (or if stated to have been made solely as of an earlier date, as of such earlier date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;*Establishment of Accounts*. Receipt by the Collateral Agent (with a copy to the Intercreditor Agent) of evidence that each of the Accounts required to be in existence as of the Closing Date has been established as required pursuant to the Common Security and Account Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;*Lien Search; Perfection of Security*. Receipt by the Collateral Agent of copies or evidence, as the case may be, of the following actions in connection with the perfection of the Collateral:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;completed requests for information or copies of the UCC search reports and tax lien, judgment and litigation search reports for the State of Delaware, the State of Texas and the State of Louisiana, and any other jurisdiction reasonably requested by any of the Facility Agents that name each Obligor or the Pledgor as debtor, together with copies of each UCC financing statement, fixture filing or other filings listed therein, which evidences no Liens on the Collateral, other than Permitted Liens; all dated within 15 Business Days prior to the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;UCC financing statements, fixture filings or other filings reflecting the Liens granted pursuant to the Common Security and Account Agreement and the other Security Documents that any of the Facility Agents may deem necessary or desirable in order to

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perfect the first priority Liens (subject to Permitted Liens) created thereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the Collateral is subject to the perfected first priority Lien (subject only to Permitted Liens) established pursuant to the Security Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;*Fees; Expenses*. Irrevocable instructions for the payment to each of the Facility Agents for its own account, or for the account of the relevant Facility Lender entitled thereto, of all fees due and payable as of the Closing Date pursuant to the Finance Documents, and all costs and expenses (including reasonable costs, fees and expenses of legal counsel and Consultants) payable thereunder for which reasonably detailed invoices have been presented to the Borrower at least three Business Days prior to the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;*Authority to Conduct Business*. Receipt by the Intercreditor Agent of satisfactory evidence, including certificates of good standing, dated no more than five Business Days prior to the Closing Date, from the Secretary of the State of Louisiana, the Secretary of State of the State of Delaware and the Secretary of State of the State of Texas, as applicable, of the authority of each Collateral Party and Affiliated Service Counterparty to carry on its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;*Total Capitalization*. The aggregate Term Loan Commitments are not more than 75% of the then-current estimate of Project Costs projected in the Construction Budget and Schedule as of the Closing Date to be incurred by the Obligors for the Project Phase 1 Development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;*Lien Waivers*. Receipt by the Intercreditor Agent of Lien Waivers as have then been required pursuant to each of the Phase 1 Material Construction Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;*Flood Insurance.* Receipt by each of the Facility Lenders of the following flood coverage documents from the Borrower, in each case to be satisfactory to each of the Facility Lenders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;a completed "Standard Flood Hazard Determination Form" of the Federal Emergency Management Agency and any successor Governmental Authority performing a similar function (a "*Flood Certificate*") with respect to the anticipated real property comprising the LNG Facility Site (including leasehold interests therein) expected to be included in the Collateral ("*Mortgaged Property*"), which Flood Certificate shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;be addressed to the Credit Facility Agent;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;provide for "life of loan" monitoring; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if the Flood Certificate states that any structure comprising a portion of the anticipated Mortgaged Property will be located in a special flood hazard area (as defined pursuant to applicable flood insurance regulations), the Borrower's written acknowledgment of receipt of written notification from the Credit Facility Agent and any Facility Lender requesting the same:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;as to the existence of such Mortgaged Property; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;as to whether the community in which such Mortgaged Property will be located is participating in the Flood Program;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;*Notes*. Receipt of copies of the notes requested by the Facility Lenders pursuant to their Facility Agreement, as applicable, duly authorized, executed and delivered by the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;*Litigation; Regulatory Action.* There are no actions, suits, proceedings, investigations or similar actions pending or, to the knowledge of each Obligor, threatened (in writing) against such Obligor that have had or could reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;*Releases under Bridge Loan*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Receipt by the Intercreditor Agent of a release letter, in form and substance reasonably satisfactory to the Intercreditor Agent, confirming that all security interests, pledges, encumbrances, and/or other Liens on the Pledgor's Equity Interests in the Obligors securing the Bridge Loan have been released or shall be released, concurrently with the consummation of the transactions contemplated by the Transaction Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Obligors shall have repaid, or made arrangements to repay, all outstanding Indebtedness and other obligations incurred and outstanding in connection with the Bridge Loan, substantially concurrently with the Closing Date, in accordance with the Funds Flow Memorandum delivered in accordance with Section 4.1(dd)

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(*Conditions to Closing Date and Initial Advance* – *Funds Flow Memorandum)*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;*Assignment of Sponsor Intercompany Loan and Mortgage*. Receipt by the Intercreditor Agent of assignment agreements, in form and substance reasonably satisfactory to the Intercreditor Agent, assigning the Sponsor Intercompany Loan to the Credit Facility Agent and assigning the Mortgage to the Collateral Agent, concurrently with the consummation of the transactions contemplated by the Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;*No Force Majeure*. To the knowledge of the Obligors, no event of force majeure (as defined under the applicable Phase 1 Material Project Agreement) has occurred and is continuing under any Phase 1 Material Project Agreement the consequences of which could reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;*Absence of Default*. No Unmatured Loan Facility Event of Default or Loan Facility Event of Default has occurred and is Continuing on such date or could reasonably be expected to result from the consummation of the transactions contemplated by the Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;&nbsp;&nbsp;&nbsp;*Minimum Funded Amount*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;CP2 EBL Borrower shall have made, or made arrangements to indirectly make, substantially concurrently with the Closing Date, an Equity Funding in an aggregate amount equal to at least $2,809,000,000 pursuant to the Contribution Agreement in accordance with the Funds Flow Memorandum delivered in accordance with Section 4.1(dd) (*Conditions to Closing Date and Initial Advance* – *Funds Flow Memorandum*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Senior Debt/Equity Ratio shall be no greater than 75:25 after giving effect to any Equity Funding and borrowing of Term Loans on the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb)&nbsp;&nbsp;&nbsp;&nbsp;*Notice to Proceed*. Issuance by the Borrower, the Pipeline Company and the Procurement Company, as applicable, of the "Notice to Proceed" or "FNTP", as applicable, under and in accordance with each of the Phase 1 EPC Contract, the Phase 1 Pipeline Construction Contracts and the Phase 1 Procurement, Supply and Construction Contracts, as determined as being necessary as of the Closing Date by the Borrower in its sole discretion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc)&nbsp;&nbsp;&nbsp;&nbsp;*Delivery of Material Permits.* The Intercreditor Agent has received a copy of each material Permit (including the FERC Order, the FTA Authorization and Non-FTA Authorization) required for the applicable

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stage of development/construction the Project Phase 1 Development as of the Closing Date; 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd)&nbsp;&nbsp;&nbsp;&nbsp;*Funds Flow Memorandum*. Delivery by the Borrower of the memorandum setting forth the flow of funds on the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee)&nbsp;&nbsp;&nbsp;&nbsp;*Equator Principles*. Reasonable satisfaction of customary Lender diligence in respect of Equator Principles matters, and implementation (to the extent required as of the Closing Date) in all material respects of the "Equator Principles Action Plan" (as described in the Independent Engineer's final report); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff)&nbsp;&nbsp;&nbsp;&nbsp;*Insurance*. Receipt by each Lender of satisfactory documentary evidence that the Borrower's flood insurance policy is in full force and effect as of the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Each Term Loan Advance** 

Except as specified in Section 14.2(b) (*Project Phase 1 Completion Date Waterfall – Final Advance of Term Loans*), the obligation of each Facility Lender (other than the Working Capital Lenders) to make available any Advance of Term Loans is subject to the satisfaction or waiver of the following (and, in the case of any Advance of Term Loans other than the Initial Advance, no other) common conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Disbursement Request*. Receipt by the applicable Facility Agent of a Disbursement Request substantially in the form set forth in Schedule B-1 (*Disbursement Request Form (Term Loans)*) (and in such form as required pursuant to each Facility Agreement), which shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;be for an amount that does not exceed (A) Project Costs reasonably expected to be due or incurred within the next 45 days succeeding the date of the proposed Advance *minus* (B) the amount estimated to be on deposit in the Construction Account on the date of such Advance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;include a certification from the Borrower (and, in the case of the certifications set forth in sub-clauses (A), (B), (C) and (D) below, to which the Independent Engineer reasonably concurs):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;that the Independent Engineer has received from the Borrower (1) a detailed breakdown of the Project Costs to be funded pursuant to such Advance and (2) copies of or access to each invoice related to Project Costs incurred since the most recent Advance (or in the case of the first Advance after the Closing Date, since Closing) that is for

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more than $500,000 (excluding any invoices related to Permitted Hedging Instruments, Senior Debt or any Permitted Finance Costs and non-construction transaction costs and expenses) and, to the extent necessary, additional invoices so that the Independent Engineer has received invoices with respect to each prior Advance representing at least 90% of the applicable Project Costs (excluding any invoices related to Permitted Hedging Instruments, Senior Debt or any Permitted Finance Costs and non-construction transaction costs and expenses) incurred since the most recent Advance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;that the amount of the Advance being requested (1) is supported by such information provided by the Obligors to the Independent Engineer and certified by the Borrower as true, correct and complete with respect to the matter under review or (2) with respect to any evidence that constitutes estimated information, is based on reasonable good faith projections reasonably satisfactory to the Independent Engineer; *provided* that, the Independent Engineer will not be required to evaluate the reasonableness of the projections with respect to funds used or funds related to payments under Permitted Hedging Instruments, Senior Debt, any Permitted Finance Costs and non-construction transaction costs or expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;(1) that the construction of the Phase 1 Project Facilities is proceeding substantially in accordance with the construction schedule set out in the Construction Budget and Schedule or, if not so proceeding, any delays shall not be reasonably expected to cause the Project Phase 1 Completion Date to otherwise not be achieved by the Phase 1 LNG Facility Date Certain, (2) as to the current utilization of previous Advances and (3) the In-Construction Sufficiency Condition is satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;that the Independent Engineer has received evidence that the full amount of the proceeds of the last preceding Advance has been either (1) paid in accordance with the Finance Documents or (2) retained in the Construction Account;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;that construction reports that are then due pursuant to Section 10.4 (*Construction Reports*) have been provided to the Intercreditor Agent;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;that the Borrower reasonably believes that the Project Phase 1 Completion Date shall occur on or prior to the Phase 1 LNG Facility Date Certain;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G)&nbsp;&nbsp;&nbsp;&nbsp;that each of the conditions in clauses (b) (*Representations and Warranties*), (c) (*Absence of Default*), (d) (*Permits*), (e) (*Collateral*), (i) (*Senior Debt/Equity Ratio*) and (j) (*Export Authorizations*) below have been met;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H)&nbsp;&nbsp;&nbsp;&nbsp;none of the Construction Contractors has sought a Change Order to which such Construction Contractor is entitled for any EPC Change in Law as contemplated under Section 12 (*Changes in the Work*) of the Phase 1 EPC Contract or the corresponding provision of any Phase 1 Material Construction Contract that would reasonably be expected to, taking into account the increase in the contract price thereunder, cause the condition set forth in sub-clause (C) above not to be satisfied; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I)&nbsp;&nbsp;&nbsp;&nbsp;as to compliance with the Senior Debt/Equity Ratio specified in clause (i) of this Section 4.2 (*Conditions to Each Term Loan Advance*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;include either (A) a list of all Change Orders for more than $20 million not theretofore submitted to the Intercreditor Agent, together with a statement by the Borrower that copies of the same have been submitted to the Independent Engineer prior to the date of the applicable Disbursement Request or (B) a Borrower statement that all Change Orders for more than $20 million have previously been submitted to the Intercreditor Agent and the Independent Engineer; 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Representations and Warranties*. Each of the Repeated Representations made by such Obligor is true and correct in all material respects, except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects, as to such Obligor on and as of the date of such Advance as if made on and as of such date (or, if stated to have been made solely as of an earlier date, as of such earlier date); 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Absence of Default*. No Unmatured Loan Facility Event of Default or Loan Facility Event of Default has occurred and is Continuing on such date or could reasonably be expected to result from the consummation of the transactions contemplated by the Transaction Documents;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Permits.* The Intercreditor Agent shall have received a copy of each material Permit to the extent required as of such date for the Project Phase 1 Development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Collateral.* The Collateral is subject to the perfected first priority Lien (subject only to Permitted Liens) in accordance with the requirements of, and established pursuant to, the Security Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Real Property*. Receipt by the Collateral Agent of a Disbursement Endorsement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;*Lien Waivers*. Receipt by the Intercreditor Agent of Lien Waivers as have then been required pursuant to each of the Phase 1 Material Construction Contracts (and, following the Project Phase 2 FID Conditions Satisfaction Date, each other Material Construction Contract);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;*Fees; Expenses*. Receipt by each of the Facility Agents for its own account, or for the account of the relevant Facility Lender entitled thereto, of, or issuance of irrevocable instructions to pay from the proceeds of the Advance, all fees due and payable on and as of the date of the Advance pursuant to the Finance Documents, and all costs and expenses (including reasonable costs, fees and expenses of legal counsel and Consultants) payable thereunder for which reasonably detailed invoices have been presented to the Borrower at least three Business Days prior to the Advance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Senior Debt/Equity Ratio*. The Senior Debt/Equity Ratio shall be no greater than 75:25, as confirmed by the Borrower (or, if the Senior Debt/Equity Ratio is greater than 75:25, a corresponding amount of Equity Funding shall be made concurrently with the applicable Advance to cause the Senior Debt/Equity Ratio to be no greater than 75:25);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;*Export Authorizations*. No Impairment of any Required Export Authorization with respect to any Required LNG SPA has occurred and is continuing that could reasonably be expected to result in a Material Adverse Effect. For the avoidance of doubt, if such an Impairment ceases to be continuing, whether as a result of an Export Authorization Remediation or otherwise, this condition will be deemed fulfilled; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;*Equity Funding*. The Borrower has fully funded, or will cause to be concurrently fully funded, all of the proceeds of the Equity Contribution pursuant to the Contribution Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Each Advance under the Working Capital Facility**

The obligation of each Working Capital Lender to make available any Advance of Initial Senior Debt is subject to the satisfaction or waiver of the following (and no other) common conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Disbursement Request*. If such disbursement request is a request for Working Capital Loans, receipt by the Credit Facility Agent of a Disbursement Request substantially in the form set forth in Schedule B-2 (*Disbursement Request Form (Working Capital Loans)*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Issuance Request.* If such disbursement request is a request for Letters of Credit, receipt by the Credit Facility Agent of an Issuance Request substantially in the form set forth in Schedule B-3 (*Issuance Request Form (Letters of Credit)*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Absence of Default*. No Unmatured Loan Facility Event of Default or Loan Facility Event of Default has occurred and is Continuing on such date or could reasonably be expected to result from the consummation of the transactions contemplated by the Transaction Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Representations and Warranties*. Each of the Repeated Representations made by each Obligor is true and correct in all material respects, except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects, as to such Obligor on and as of the date of such Advance as if made on and as of such date (or, if stated to have been made solely as of an earlier date, as of such earlier date).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4&nbsp;&nbsp;&nbsp;&nbsp;Satisfaction of Conditions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In relation to the Closing and the Initial Advance:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if each of the conditions precedent set forth in Section 4.1 (*Conditions to Closing Date and Initial Advance*) and Section 4.2 (*Conditions to Each Term Loan Advance*) has been satisfied or waived, (x) the Borrower shall deliver to the Intercreditor Agent a certificate to such effect (such certificate, the "*Closing Conditions Certificate*") and (y) the Intercreditor Agent shall deliver the Closing Conditions Certificate to the Credit Facility Agent and unless a separate instrument effecting any such waiver has been signed by each of the relevant Parties, the Intercreditor Agent shall countersign the Closing Conditions Certificate and deliver the same to the Credit Facility Agent, solely for the purpose of acknowledging receipt of the Closing Conditions Certificate and confirming such waivers (if any), and deliver such countersigned

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certificate to the Borrower or otherwise provide the Borrower with a written confirmation of its receipt of the Borrower's Closing Conditions Certificate (such countersigned Closing Conditions Certificate, or such Closing Conditions Certificate together with the Intercreditor Agent's written confirmation of receipt thereof, is collectively referred to as the "*Closing Notice*"). The occurrence of the Closing and the obligation of each Term Lender (as defined in the Credit Facility Agreement) to make the Initial Advance is subject to the Intercreditor Agent's delivery of the Closing Notice to the Borrower prior to or concurrently with the Closing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Disbursement Request with respect to the Initial Advance may be delivered by the Borrower at any time on or following (and in no event prior to) the delivery of the Closing Notice, which notice must be delivered no later than 11:00 a.m., New York City time, on the Business Day prior to the proposed Advance and otherwise in accordance with the applicable requirements set forth in the Credit Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In relation to each Advance made under any Additional Senior Debt such Advance shall be subject to satisfaction or waiver of such conditions precedent as may be set forth in the Facility Agreement for such Additional Senior Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In relation to each Advance under a Facility Agreement, the Intercreditor Agent may waive one or more conditions precedent set out in this Article 4 (*Conditions Precedent*) or any additional conditions to disbursements under the applicable Facility Agreement upon receiving instructions regarding any such waiver from the Facility Agent under the Facility Agreement related to such Advance and the Intercreditor Agent shall promptly notify the Borrower of such waiver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The conditions precedent in this Article 4 (*Conditions Precedent*) and under any Facility Agreement shall be interpreted to permit a single certificate from a Party certifying as to matters required by multiple sections and subsections of this Article 4 (*Conditions Precedent*).

**5.&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS AND WARRANTIES OF THE OBLIGORS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1&nbsp;&nbsp;&nbsp;&nbsp;Initial Representations and Warranties of the Obligors**

Each Obligor makes the following, and no other, common representations and warranties to each Facility Lender (*provided* that, if making any representation and warranty in clauses (c) and (g) of this Section 5.1 (*Initial Representations and Warranties of the Obligors*), in each case, insofar such representation or warranty relates to Sanctions, would result in any Excluded Lender breaching the Blocking

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Regulation, that representation and warranty is deemed not to be given to the Excluded Lender but only to the extent of the breach and no Excluded Lender is entitled to the benefit of, nor may rely on, that representation and warranty to that extent). Each such representation and warranty is made at the Closing Date only:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Conduct of Business*

In respect of each Obligor, it is not engaged in any business other than the Development as contemplated by its Constitutional Documents and the Transaction Documents then in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Material Permits*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;All material Permits (other than the FERC Order and the Export Authorizations) necessary for the Development are set forth in Schedule F (*Material Permits*) hereto, and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;as to those identified as such in the relevant schedule, (1) have been duly obtained, were validly issued, are in full force and effect, (2) satisfies the Permit Appeal Qualification, and (3) all applicable fixed time periods for appeal set forth in the Government Rules pursuant to which such Permits were issued have expired or are Permits that do not have limits on appeal periods; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;as to those identified as such in the relevant schedule, are expected by the Obligors to be obtained in the ordinary course by the time they are necessary for the Development; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;in the case of the Permits described in sub-clause (A) above, are, or, in the case of the Permits described in sub-clause (B) above, are reasonably expected to be, free from conditions or requirements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;the compliance with which could reasonably be expected to have a Material Adverse Effect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;which the Obligors do not expect to be able to satisfy on or prior to the commencement of the relevant stage of Development for which such Permit is necessary, except to the extent that a failure to so satisfy such condition or requirement could not reasonably be expected to have a Material Adverse Effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;In respect of each Obligor, to its Knowledge, there is no action, suit or proceeding pending with respect to any material Permit set forth in Schedule F (*Material Permits*) attached hereto (not including the FERC Order or any Export Authorization) that could reasonably be expected to result in a Material Adverse Effect or satisfies the Permit Appeal Qualification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Compliance with Laws*

Except to the extent already contemplated under this Article 5 (*Representations and Warranties of the Obligors*) hereof, each Obligor is in material compliance with all material applicable Government Rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*No Employees*

None of the Obligors has any current or former employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Labor Matters*

In respect of each Obligor, no strikes, lockouts or slowdowns in connection with it or the Project Facilities exist or, to its Knowledge, are threatened that could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Legal Name and Place of Business*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The full and correct legal name, type of organization and jurisdiction of organization of each of the Obligors is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;Venture Global CP2 LNG, LLC, a limited liability company organized under the laws of the State of Delaware;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;Venture Global CP Express, LLC, a limited liability company organized under the laws of the State of Delaware; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;CP2 Procurement, LLC, a limited liability company organized under the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth on Schedule 5.1(f)(ii) (*Prior Locations*), no Obligor has ever changed its name or location (as defined in Section 9-307 of the UCC); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;On the Closing Date, the chief executive offices of the Obligors are located at 1001 19<sup>th</sup> Street North, Suite 1500, Arlington, VA 22209.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;*Sanctions, Anti-Corruption Laws and USA Patriot Act*

The use of the proceeds of the Loans does not violate, and will not cause a violation by any person of, any Applicable Anti-Corruption Laws, Anti-Terrorism and Money Laundering Laws, or Sanctions, and none of the Obligors, the Sponsor or any of their respective Affiliates, nor, to the Knowledge of the Obligors, any of their respective directors, officers or employees, is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the target of Sanctions administered by the United States, including by OFAC and by the US Department of State, the European Union, any EU member state, or His Majesty's Treasury of the United Kingdom;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a Person listed in any Sanctions-related list of sanctioned Persons maintained by the United States, including by OFAC and the U.S. Department of State, by the United Nations Security Council, the European Union, any EU member state, or the His Majesty's Treasury of the United Kingdom;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;a Person located, organized or resident in a country, territory, or region that is, or whose government is, the target of Sanctions under OFAC or by the US Department of State, the European Union, any EU member state, or His Majesty's Treasury or the United Kingdom (as of the date of this Agreement, Cuba, Iran, North Korea, Syria, the Crimea region of Ukraine, the so-called Donetsk People's Republic and the so-called Luhansk People's Republic);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;a Person owned or controlled by a Person or Persons, country, territory, or region in (i) through (iii) (each such person in (i) through (iv), a "*Sanctioned Person*"); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the subject of any action or investigation by any Governmental Authority with respect to any actual or alleged violation of any Applicable Anti-Corruption Laws, Anti-Terrorism and Money Laundering Laws, or Sanctions.

The Obligors and the Sponsor, and, to the Knowledge of the Obligors, their respective Affiliates, directors, officers and employees, (A) are in material compliance with Applicable Anti-Corruption Laws, Anti-Terrorism and Money Laundering Laws, and Sanctions, and (B) have not committed, in the last five years prior to the Closing Date, any breach of any Sanctions, Applicable Anti-Corruption Laws or Anti-Terrorism and Money Laundering Laws.

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The Obligors and the Sponsor and, to the Knowledge of the Obligors, their respective Affiliates have instituted and maintain policies and procedures reasonably designed to promote compliance with Applicable Anti-Corruption Laws, Anti-Terrorism and Money Laundering Laws, and Sanctions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;*Financial Condition*

In respect of each Obligor, there has been no change in its financial condition, operations or business since the date of the financial statements referred to in Section 4.1(h) (*Conditions to Closing Date and Initial Advance – Financial Statements*) that could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Information; Projections*

In respect of each Obligor, except as otherwise disclosed by it in writing, no information furnished in writing to the Senior Creditors by or on behalf of it in connection with the transactions contemplated by the Transaction Documents or delivered to the Collateral Agent, any Consultant or a Facility Agent in connection therewith (or their counsel), when taken as a whole, contains, as of the date of such information, any untrue statement of a material fact pertaining to it or the Development or omits to state a material fact pertaining to it or the Development necessary to make the statements contained herein or therein not misleading in any material respect (*provided* that, no representation or warranty is made with respect to any forecast, estimate, forward-looking information, information of a general economic or general industry nature or pro forma calculation made in the Construction Budget and Schedule, this Agreement or Base Case Forecast, including with respect to the start of operations of the Project Facilities, the Project Phase 1 Completion Date, the Project Phase 2 Completion Date, final capital costs or operating costs of the Development, oil prices, Gas prices, LNG prices, electricity prices, Gas reserves, rates of production, Gas market supplies, LNG market demand, exchange rates or interest rates, rates of taxation, rates of inflation, transportation volumes or any other forecasts, projections, assumptions, estimates or pro forma calculations, except that they are based on assumptions made in good faith and believed reasonable at the time made in light of the legal and factual circumstances then applicable to the Development, and it makes no representation as to the actual attainability of any projections set forth in the Base Case Forecast or Construction Budget and Schedule, or any such other items listed in this proviso). Without limiting the generality of the foregoing, no representation or warranty shall be made by any Obligor as to any information or material

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provided by a Consultant (except to the extent such information or material originated with such Obligor).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;*Environmental and Social*

Except as set forth in Schedule G (*Disclosure Schedule*) hereto:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;except as could not reasonably be expected to result in a Material Adverse Effect, each Obligor and the Project Facilities are, and have been, in compliance with all applicable Environmental Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;there are no past or present facts, circumstances, conditions, events or occurrences, including Releases of Hazardous Materials by the Obligors or with respect to the Project Facilities or any Real Estate on which any Project Facilities are located, that could reasonably be expected to give rise to any Environmental Claims that could reasonably be expected to have a Material Adverse Effect or cause the Project Facilities to be subject to any restrictions on ownership, occupancy, use or transferability under any Environmental Laws that could reasonably be expected to have a Material Adverse Effect (excluding restrictions on the transferability of Permits upon the transfer of ownership of assets subject to such Permit);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Hazardous Materials have not at any time been Released at, on, under or from the Project Facilities, or any Real Estate on which they are situated, by an Obligor or, to the Knowledge of such Obligor, other Persons, other than in material compliance at all times with all applicable Environmental Laws or in such manner as otherwise could not reasonably be expected to result in a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;there have been no material environmental investigations, studies, audits, reviews or other analyses relating to environmental site conditions that individually or in the aggregate could reasonably be expected to have a Material Adverse Effect and that have been conducted by, or that are in the possession or control of, the Obligors in relation to the Project Facilities, or any Real Estate on which they are situated, that have not been provided to the Collateral Agent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the Obligors have not received any letter or written request for information under Section 104 of CERCLA, or comparable state laws, and to the Knowledge of the Obligors, none of the operations of the Obligors is the subject of any investigation by a Governmental Authority evaluating whether any remedial action is needed to respond to a Release or threatened Release of any

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Hazardous Materials relating to the Project Facilities, or any Real Estate on which they are situated, or at any other location, including any location to which the Obligors have transported, or arranged for the transportation of, any Hazardous Materials with respect to the Development, which, in each case above, could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;*Taxes*

In respect of each Obligor, it (or, for the purposes of this clause (k) as it relates to U.S. federal income taxes, if it is a disregarded entity for U.S. federal income tax purposes, its first regarded owner for U.S. federal income tax purposes) has timely filed or caused to be filed all income tax returns that are required to be filed by or in respect of such Obligor and all other material tax returns that are required to be filed, and has paid (i) all Taxes shown to be due and payable on such returns or on any material assessments made against or in respect of such Obligor or any of its property and (ii) all other material Taxes imposed on or in respect of such Obligor or its property by any Governmental Authority (other than Taxes that are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves are being maintained in accordance with GAAP), and no tax Liens (other than Permitted Liens) have been filed and no claims are being asserted with respect to any such Taxes (other than claims which are being contested in good faith).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;*Regulatory Matters*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;None of the Obligors is subject to regulation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;under Section 3 of the Natural Gas Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;as a "natural-gas company" as such term is defined in the Natural Gas Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;under PUHCA; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;under the Louisiana or Texas Government Rules as a "public utility," a "gas company" or a "gas utility;"

*provided* that, the Borrower is subject to the provisions of Section 3 of the Natural Gas Act (1) for the siting, construction, expansion, and operation of the LNG Facility and (2) with respect to the export of LNG from the LNG Facility; and *provided further* that, the Pipeline Company is subject to Section 7 of the Natural Gas Act with respect to the construction and operation of the CP Express Pipeline, and each of the Obligors will become subject to

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provisions of the Natural Gas Act as a "natural-gas company" at such time as the Obligors, as applicable, engage in the transportation of "natural gas" (as such term is defined in the Natural Gas Act) in interstate commerce or the sale in interstate commerce of natural gas for resale; however, the Borrower will be subject to regulation as a "natural-gas company" under the Natural Gas Act only to the extent of natural gas sales pursuant to Part 284, Subpart L of FERC's regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;None of the Collateral Agent nor the Senior Creditors, solely by virtue of the execution and delivery of the Finance Documents, the consummation of the transactions contemplated thereby, or the performance of obligations thereunder, shall be or become subject to the provisions of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;Section 3 of the Natural Gas Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the Natural Gas Act as a "natural-gas company" as such term is defined in such Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;PUHCA; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;the Louisiana or Texas Government Rules as a "public utility," a "gas company" or a "gas utility."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;*Transactions with Affiliates*

In respect of each Obligor, it has not entered into any material agreement (other than the Material Project Agreements and any other agreements permitted by Section 12.21 (*Transactions with Affiliates*)) with the Sponsor or any of its Affiliates on terms and conditions which, in the aggregate, are less favorable to it than those that would be applicable in a comparable agreement with independent parties acting at arm's length (or, if there is no comparable arm's-length transaction, then on terms reasonably determined by such Obligor (acting through its board of managers, if applicable) to be fair and reasonable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;*Solvency*

In respect of each Obligor, it is and, upon the incurrence of any Senior Debt Obligations, and after giving effect to the transactions and the incurrence of Indebtedness in connection therewith, shall be Solvent.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;*Ranking of Senior Debt Obligations*

Subject to Section 3.7 (*Pro Rata Payment*), the Senior Debt Obligations of each Obligor in respect of each Secured Party that is party to the Common Terms Agreement shall rank:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*pari passu* in right of payment and otherwise with its Senior Debt Obligations to each other Secured Party under the Finance Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;*pari passu* or senior in right of payment to all other Indebtedness of the Borrower whether now existing or hereafter outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;*Operating Responsibilities*

The administrative and operational responsibilities delegated to the Manager, the Operator and the Pipeline Operator, as applicable, pursuant to the Administrative Services Agreements and the O&M Agreements, collectively, constitute all the administrative and operational responsibilities necessary to comply with the obligations of the Obligors pursuant to the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;*Material Project Agreements*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;A list of each Phase 1 Material Project Agreement existing on the Closing Date, is attached as Schedule H (*Material Project Agreements and Certain Other Contracts*) hereto. The Schedule contains details of all amendments, amendments and restatements, supplements, waivers and interpretations modifying or clarifying any of the above. True, correct and complete copies of each of the aforementioned contracts have been delivered to the Intercreditor Agent and certified by the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;to the Knowledge of each Obligor, all Material Project Agreements are in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;as of the Closing Date, no material default or event of default of any Obligor and, to the Knowledge of each Obligor, no material default or event of default of any counterparty exists under any Material Project Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;to the Knowledge of each Obligor, as of the Closing Date, the representations and warranties of the Material Project Counterparties under the Material Project Agreements are true and accurate in all material respects;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;as of the Closing Date, (A) except as set forth on Schedule H (*Material Project Agreements and Certain Other Contracts*), no event of force majeure (as defined under the applicable Material Project Agreement) in respect of which a Material Project Counterparty has sought or would reasonably be expected to seek relief from performance under a Material Project Agreement has occurred and is continuing under any Material Project Agreement or (B) no other circumstance exists that would entitle a Material Project Counterparty to terminate a Material Project Agreement or suspend its performance thereunder has occurred and is continuing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;except as set forth on Schedule H (*Material Project Agreements and Certain Other Contracts*) hereto, none of the Material Project Agreements has been terminated or otherwise amended, modified, supplemented, transferred, impaired or, to the applicable Obligor's Knowledge, assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;*Equator Principles*

As of the Closing Date, the Obligors are in compliance in all material respects with the Equator Principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;*Litigation*

Except as set forth on Schedule G (*Disclosure Schedule*) hereto, there are no actions, suits, proceedings, investigations or similar actions pending or, to the knowledge of the Obligors, threatened in writing against the Borrower or any Guarantor that would reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;*Flood Insurance*

The Borrower has complied with the covenant in Section 12.28(c) (*Insurance Covenant*) and otherwise obtained flood insurance for each portion of the Mortgaged Property located in a special flood hazard area (as defined pursuant to applicable flood insurance regulations) and such insurance is in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;*Liabilities*

Except as set forth in Schedule G (*Disclosure Schedule*) hereto, other than liabilities incurred in connection with the consummation of the transactions contemplated by the Transaction Documents, there are no material liabilities of any Obligor of any kind whatsoever, whether accrued, contingent, absolute, determined, determinable or otherwise that

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would be required to be reflected on a balance sheet of such Obligor prepared in accordance with GAAP other than those liabilities arising in the ordinary course of business and permitted under the Finance Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;*Beneficial Ownership Certification*

The information included in the Beneficial Ownership Certification is true and correct in all respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;*No Event of Loss or Event of Taking*

As of the Closing Date, no material Event of Loss or material Event of Taking has occurred or is, to the Borrower's Knowledge, threatened or pending.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;*Due Authorization*

The execution, delivery and performance of the Finance Documents have been duly authorized by all necessary action on the part of each Obligor that is a party thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;*No Indebtedness*

In respect of each Obligor, it has no Indebtedness other than Indebtedness incurred in accordance with Section 12.14 (*Limitation on Indebtedness*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2&nbsp;&nbsp;&nbsp;&nbsp;Repeated Representations and Warranties of the Obligors**

Each Obligor makes the following representations and warranties to each Facility Lender (*provided* that, if making any representation and warranty in clauses (d)(ii) and (o) of this Section 5.2 (*Repeated Representations and Warranties of the Obligors*), in each case, insofar such representation or warranty relates to Sanctions, would result in any Excluded Lender breaching the Blocking Regulation, that representation and warranty is deemed not to be given to the Excluded Lender but only to the extent of the breach and no Excluded Lender is entitled to the benefit of, nor may rely on, that representation and warranty to that extent). Unless otherwise indicated below, each such representation and warranty is made at the Closing Date, on the date of each Advance, on the Project Phase 1 Completion Date, on the Project Phase 2 FID Conditions Satisfaction Date, and on the date of incurrence of Project Phase 2 Development Debt, Permitted Internal Expansion Debt, Permitted Relevering Debt, Permitted Completion Senior Debt and PDE Senior Debt:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Organization*

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Each of the Obligors is a limited liability company duly organized validly existing and in good standing under the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Financial Statements*

The financial statements of the Obligors most recently furnished to the Intercreditor Agent (whether pursuant to Section 4.1(h) (*Conditions to Closing Date and Initial Advance – Financial Statements*) or Section 10.1(a) (*Accounting, Financial and Other Information*)) present fairly in all material respects its financial condition as at the date thereof in accordance with GAAP (subject to normal year-end adjustments and except to the extent any notes to the financial statements would not be required thereunder) consistently applied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Power and Authority and Qualification*

Each Obligor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;has the power and authority to execute, deliver, perform and incur obligations under the Transaction Documents then in effect to which it is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;has the power and authority to make the assignment and grant the Lien and Security Interest granted in the Collateral pursuant to the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;has the power and authority for the execution, delivery and performance of each of the Transaction Documents to which it is a party, each of the Transaction Documents has been duly authorized by it, and (assuming the due execution and delivery by the counterparties to the Obligors thereto) each of the Transaction Documents to which it is a party is in full force and effect and constitutes a legal, valid and binding obligation of it, enforceable against it in accordance with its terms, except as limited by general principles of equity and bankruptcy, insolvency and similar laws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;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.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*No Conflicts*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;In respect of each of the Obligors, its Constitutional Documents do not conflict with or prevent execution or delivery or performance by it of the Transaction Documents then in effect to which it is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;neither (x) any material law applicable to it, or agreement to which it is a party, nor (y) any order, judgment or decree to which it or any of its assets are subject conflict in any material respect with, or prevent execution or delivery or performance by it of, the Transaction Documents then in effect to which it is a party or conflict in any material respect with its Constitutional Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;in respect of each of the Obligors, the Material Project Agreements then in effect to which it is a party do not conflict with or prevent execution or delivery or performance by it of the Finance Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the execution or delivery or performance by it of the Transaction Documents does not result in the creation or imposition of any Lien upon or with respect to any of its property or its assets now owned or hereafter acquired, other than Liens created under the Security Documents and other Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Regulatory Matters*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The FERC Order: (a) has been obtained by the Borrower with respect to the LNG Facility and by the Pipeline Company with respect to the CP Express Pipeline and (b) satisfies the Permit Appeal Qualification;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Obligors are in material compliance with the FERC Order, and the FERC Order is free from conditions and requirements: (a) the compliance with which could reasonably be expected to have a Material Adverse Effect, or (b) that the applicable Obligor does not expect to be able to satisfy on or prior to the commencement of the relevant stage of Development except to the extent that failure to satisfy such condition or requirement could not reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;each of the FTA Authorization and the Non-FTA Authorization: (a) has been obtained by the Borrower and (b) satisfies the Permit Appeal Qualification; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower is in material compliance with each of the FTA Authorization and the Non-FTA Authorization, and each of the FTA Authorization and the Non-FTA Authorization is free from conditions and requirements: (a) the compliance with which could reasonably be expected to have a Material Adverse Effect, or (b) that the Borrower does not expect to be able to satisfy on or prior to the commencement of the relevant stage of Development except to the extent that failure to satisfy such condition or requirement could not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*ERISA*

In respect of each Obligor, it:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;does not sponsor or participate in, or have any obligation to contribute to, or any liability under, any Plan or Multiemployer Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;no ERISA Event has occurred or is reasonably expected to occur.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;*Title*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise permitted under the Finance Documents and other than with respect to real property (which is covered under clause (m) (*Real Property*) below), each Obligor owns good and valid title to all of its property and assets included in the Collateral, free and clear of all Liens other than Permitted Liens, and the Security Documents are effective to create a legal, valid and enforceable Lien on, and security interest in, all of the Collateral, and the Secured Parties have a first priority perfected security interest in the Collateral (subject to Permitted Liens); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;no previous assignment of, or security interest in, any Obligor's right, title and interest in any of the Collateral has been made or granted by any Obligor that remains in effect or is otherwise effective other than pursuant to the Finance Documents to which the Obligor is a party or in respect of Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;*Subsidiaries*

The Pledgor has no Subsidiaries other than the Obligors and none of the Obligors has any Subsidiaries (except, with respect to the Borrower, following the formation thereof in accordance with Section 7.5 (*External Expansions*), CFCo).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Investment Company Act (Obligors)*

In respect of each Obligor, it is not, and after giving effect to the issuance of the Senior Debt and the application of proceeds of the Senior Debt in accordance with the provisions of the Finance Documents shall not be, an "investment company" required to be registered under the Investment Company Act of 1940.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;*Margin Stock*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;No part of the proceeds of any Advance shall be used for the purpose of buying or carrying any Margin Stock or to extend credit to others for such purpose; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;in respect of each Obligor, it is not engaged in the business of extending credit for the purpose of purchasing or carrying Margin Stock, and no proceeds of any Senior Debt shall be used for any purpose that violates, or would be inconsistent with, Regulations T, U or X of the Federal Reserve Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;*Minimum Insurance*

Except as otherwise approved by the Insurance Advisor, any Minimum Insurances applicable to each of the Obligors are in full force and effect if required to be in effect at such time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;*No Loan Facility Declared Default or Event of Default*

No Unmatured Loan Facility Event of Default, Loan Facility Event of Default or Loan Facility Declared Default has occurred and is Continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;*Real Property*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors collectively have good, legal and valid real property interests in the applicable portion of the Site pursuant to the Real Property Documents, in each case as is necessary for the Development at the time this representation and warranty is made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Obligors do not have any real property interests other than with respect to the Site or except as set forth on Schedule 5.2(m) (*Real Property Interests*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;no action has been commenced or is pending to terminate, restate or replace any Lease; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;to the Knowledge of each Obligor, there is no default or existing condition which with the giving of notice or passage of time or

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both would cause a default under a Lease, and all rents due under the Leases have been timely paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;*Intellectual Property*

The Obligors collectively own or have obtained and hold in full force and effect all material Intellectual Property that is necessary for carrying out the Development except for such items which are not required in light of the applicable stage of Development, and reasonably believe that they shall be able to obtain such items that are not owned or have not been obtained as of the date on which this representation and warranty is made or deemed repeated on or prior to the relevant stage of Development, *provided* that, any such items shall not contain any material condition or material requirement that they do not expect to be able to satisfy without cost that could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;*Anti-Corruption Laws*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;None of the Obligors, or any of their Affiliates, nor, to the Knowledge of any of these entities, the Sponsor or any of its Affiliates, any of their respective directors, officers, agents, employees or other persons acting on behalf of them, is aware of or has taken any action, directly or indirectly, that would result in a violation by such entity of the Applicable Anti-Corruption Laws, Anti-Terrorism and Money Laundering Laws or Sanctions applicable to such Person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Obligors have instituted and maintain policies and procedures reasonably designed to ensure compliance therewith in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;*Collateral*

The Collateral is subject to the perfected first priority Lien (subject only to Permitted Liens) established pursuant to the Security Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;*No Material Adverse Effect.*

Since December 31, 2024, no event, circumstance or change has occurred (other than matters of a general economic nature) that has caused or evidenced, or could reasonably be expected to result in, a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;*Accounts*

Other than Authorized Investments held in accordance with the Common Security and Account Agreement, in respect of each Obligor, it does not

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have, and is not the beneficiary of, any bank account other than the Local Accounts, the Accounts and the Excluded Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;*Material Project Agreements*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Material Project Agreements to which any Obligor is a party is in full force and effect to the Obligors' Knowledge, and none of such Material Project Agreements has been terminated or otherwise amended, modified, supplemented, transferred, impaired or, to the Obligors' Knowledge, assigned, except as permitted by the terms of the Finance Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;(A) no material default or event of default of any Obligor or, (B) to the Knowledge of each Obligor, no default or event of default of any counterparty, in each case have occurred and are continuing under any Material Project Agreement (except in the case of clause (B), to the extent such default or event of default of any such counterparty could not reasonably be expected to have a Material Adverse Effect).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;*In-Construction Sufficiency Condition*

The Borrower is in compliance with the In-Construction Sufficiency Condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;*Equity Interests and Ownership*

The Equity Interests of each Obligor have been duly authorized and validly issued. There is no existing option, warrant, call, right, commitment or other agreement to which any Obligor is a party requiring, and there is no membership interest or other Equity Interests of Obligor outstanding which upon conversion or exchange would require, the issuance by any Obligor of any additional membership interests or other Equity Interests of any Obligor or other securities convertible into, exchangeable for or evidencing the right to subscribe for or purchase, a membership interest or other Equity Interests of any Obligor. The Obligors do not own any Equity Interests in any Person (except, with respect to the Borrower, following the formation thereof in accordance with Section 7.5 (*External Expansions*), CFCo).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;*Environmental Claims; Permit Notices*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in Schedule G (*Disclosure Schedule*) hereto, there is:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;no Environmental Claim now pending or, to the Knowledge of each Obligor, threatened against it or the Project Facilities, or expressly with respect to its Permits or the Development, that in each case could reasonably be expected to have a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;no existing default by it under any applicable order, writ, injunction or decree of any Governmental Authority or arbitral tribunal with respect to Environmental Claims that could reasonably be expected to have a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;In respect of each Obligor, it has not received any notice from any Governmental Authority asserting that any information set forth in any application submitted by or on behalf of it in connection with any material Permit that has been obtained as of the date this representation is made or deemed repeated was inaccurate or incomplete at the time of submission that could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;*Tax Status*

In respect of each Obligor, it is a limited liability company that is treated as a partnership for U.S. federal income tax purposes or an entity disregarded for U.S. federal income tax purposes as separate from its owner and not an association taxable as a corporation, and neither the execution or delivery of any Transaction Document nor the consummation of any of the transactions contemplated thereby shall affect such status.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;*Easements; Utilities; Services*

All easements, leasehold and other real property interests, and all utility and other services, means of transportation, facilities, other materials and other related rights, that are necessary for the operation and maintenance of the Project Facilities, as currently conducted (and in light of the current status of Development), in accordance in all material respects with all applicable Government Rules and the Transaction Documents (including, to the extent applicable, gas, electrical, water and sewage services and facilities) are available to the applicable Obligor or, if not then available, are reasonably expected to be available to the applicable Obligor as and when needed for the operation and maintenance of the Project Facilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;*Development*

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No other material contracts are necessary for the Development of the Project Facilities at their respective current stages of development other than the Material Project Agreements in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;*Affected Financial Institutions*

As of the Closing Date, no Obligor is an Affected Financial Institution.

**6.&nbsp;&nbsp;&nbsp;&nbsp;INCURRENCE OF ADDITIONAL SENIOR DEBT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1&nbsp;&nbsp;&nbsp;&nbsp;Permitted Senior Debt**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may from time to time enter into agreements to incur, and may incur, Senior Debt Obligations in addition to the Initial Senior Debt Obligations that, for so long as the Common Terms Agreement remains in effect in accordance with its terms, consist only of Working Capital Debt, Replacement Debt, Project Phase 2 Development Debt, Permitted Internal Expansion Debt, Permitted Relevering Debt, Permitted Completion Senior Debt, PDE Senior Debt and/or Restoration Debt (and shall satisfy the requirements of this Article 6 (*Incurrence of Additional Senior Debt*) applicable to such category of Senior Debt).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Senior Creditor Group Representative (on behalf of the Senior Creditors providing Additional Senior Debt) must accede to the Common Security and Account Agreement pursuant to, and in accordance with, the conditions set forth in Section 2.7 (*Accession of Senior Creditor Group Representatives*) of the Common Security and Account Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Incurrence of Additional Senior Debt under one Section of this Article 6 (*Incurrence of Additional Senior Debt*) shall not preclude the incurrence of Additional Senior Debt under any other Section of this Article 6 (*Incurrence of Additional Senior Debt*), and the failure of the proposed Additional Senior Debt to meet the requirements of one Section of this Article 6 (*Incurrence of Additional Senior Debt*) shall not preclude the incurrence of such Additional Senior Debt if permitted under other Sections of this Article 6 (*Incurrence of Additional Senior Debt*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Additional Senior Debt under this Article 6 (*Incurrence of Additional Senior Debt*) may be incurred under this Agreement and/or any other Senior Debt Instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2&nbsp;&nbsp;&nbsp;&nbsp;Working Capital Debt**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may incur senior secured, subordinate or unsecured Indebtedness (which, if secured on a *pari passu* basis, shall constitute

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Senior Debt) not exceeding an amount outstanding at any one time equal to the sum of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;an aggregate principal amount not to exceed the amount of the Working Capital Facility as of the Closing Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;$500,000,000;

in each case outstanding in the aggregate at any one time under one or more working capital and/or letter of credit facilities (including the Working Capital Facility) (collectively, the "*Working Capital Debt*") (u) to satisfy the Obligors' obligations related to purchases of natural gas and any costs and expenses related to the supply or transport of natural gas by the Obligors (including for testing or operations) including credit support (and mark to market) obligations in connection therewith, (w) to fund reserve requirements, (x) the payment of transaction fees and expenses, (y) working capital purposes and (z) other general corporate purposes (subject, in the case of this clause (z), to a cap of $400,000,000), as the case may be, so long as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) &nbsp;&nbsp;&nbsp;&nbsp;the all-in yield (whether in the form of interest rate margins, original issue discount ("*OID*") or upfront fees) applicable to any additional Working Capital Facility will not be more than 0.25% higher than the corresponding all-in yield (giving effect to interest rate margins, OID, upfront fees and interest rate floors) for the then-existing Working Capital Facility unless the interest rate margins with respect to such then-existing Working Capital Facility are increased by an amount equal to the difference between the all-in yield with respect to the additional Working Capital Facility and the corresponding all-in yield on the then-existing Working Capital Facility; *provided further* that, in determining the all-in yield applicable to the foregoing (x) customary arrangement, underwriting, amendment or commitment fees payable to one or more arrangers shall be excluded, (y) OID and upfront fees paid to the lenders shall be included (with OID and upfront fees being equated to interest based on assumed four-year life to maturity or, if shorter, the actual weighted average life to maturity), and (z) if the new Working Capital Facility includes an interest rate floor greater than the applicable interest rate floor under the then-existing Working Capital Facility, such differential between interest rate floors shall be equated to an increase in the applicable interest rate margin with respect to such Working Capital Facilities for purposes of determining whether an increase to the interest rate margin under the existing Working Capital Facility shall be required, but only to the extent an increase in the

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interest rate floor in the existing Working Capital Facility would cause an increase in the interest rate then in effect thereunder, and in such case the interest rate floor (but not the interest rate margin) applicable to the existing Working Capital Facility shall be increased to the extent of such differential between interest rate floors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(II) &nbsp;&nbsp;&nbsp;&nbsp;the Borrower certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;no Event of Default or Unmatured Event of Default:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;has occurred and is Continuing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;could reasonably be expected to occur after giving effect to the incurrence of the Working Capital Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;any Senior Debt Instrument governing the Working Capital Debt shall require the Borrower to reduce the principal amount relating to any revolving Loans thereunder to $0 for a period of at least five (5) consecutive Business Days at least once per calendar year; *provided* that, this requirement shall not apply to letters of credit outstanding or Loans outstanding as a result of a draw under a letter of credit; *provided further* that amounts may not be borrowed under any one Facility Agreement for Working Capital Debt in order to meet this requirement under any other Facility Agreement for Working Capital Debt (it being acknowledged and agreed that the foregoing shall not limit the utilization by the Borrower of other Indebtedness that is permitted to be incurred pursuant to Section 12.14 (*Limitation on Indebtedness*) for such purposes to the extent the terms and conditions of such Indebtedness permit such utilization); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(III)&nbsp;&nbsp;&nbsp;&nbsp;the Intercreditor Agent has received, at least three Business Days before the incurrence of any such Working Capital Debt, a certificate from the Borrower that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;identifies each Senior Creditor Group Representative for, and each holder of, any such Working Capital Debt; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;attaches a copy of each proposed Senior Debt Instrument relating to any such Working Capital Debt.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Any provider of Working Capital Debt (or a Senior Creditor Group Representative on its behalf) that is secured shall accede as a Senior Creditor to the Common Security and Account Agreement, the Intercreditor Agreement and this Agreement, and shall share *pari passu* in the Collateral.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;For the avoidance of doubt, Working Capital Debt shall not be used to make Restricted Payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3&nbsp;&nbsp;&nbsp;&nbsp;Replacement Debt**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;At any time and from time to time, the Borrower may incur additional senior secured, subordinate or unsecured Indebtedness (which, if secured on a *pari passu* basis, shall constitute Senior Debt) or enter into agreements with Persons who commit to provide additional Indebtedness in order to prepay or repay Senior Debt and/or replace all or part of the Facility Debt Commitments under one or more Loans ("*Replacement Debt*"), as the case may be, so long as and provided that the Borrower certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Replacement Debt, taken as a whole:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;has a weighted average life no less than the then-remaining weighted average life of that of the Senior Debt or the Facility Debt Commitments being prepaid or replaced, taken as a whole;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;has a Final Maturity Date no earlier than the Senior Debt or the Facility Debt Commitments being prepaid or replaced; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;may not be voluntarily prepaid or redeemed prior to having repaid the then-outstanding Term Loans in full and having cancelled all outstanding Term Loan Commitments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Replacement Debt is incurred solely for the permitted prepayment, in whole or in part, of existing Senior Debt (and provisions, costs, prepayment premiums, fees or expenses associated with the Replacement Debt or the prepaid Senior Debt, as applicable (including, without duplication, (A) any Hedging Termination Amount with respect to any Permitted Hedging Instrument subject to the refinancing with the proposed Replacement Debt; (B) any amounts required to be deposited in a debt service reserve or similar reserve (or any interest during construction) account in connection with the issuance of such Replacement Debt; (C) upfront fees and/or original issue discount

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on, and transaction expenses relating to, such Replacement Debt and (D) any incremental carrying costs of such Replacement Debt (including any increased interest during construction) associated with any such cancellation, prepayment or redemption, or incurred in connection with the proposed Replacement Debt)) or the permitted replacement of existing unutilized commitments of a Senior Creditor Group (or, within a Senior Creditor Group, of any Facility Lender);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate principal amount of Replacement Debt incurred or committed and then available does not exceed the aggregate amount of the Senior Debt or the Facility Debt Commitments being prepaid or replaced, together with any premiums, costs, fees or expenses associated with the Replacement Debt (including those described in sub-clause (ii) above and clause (b) below);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower will have demonstrated by delivery of an updated Base Case Forecast (prepared in accordance with the Base Case Sizing Criteria) that the incurrence of the Replacement Debt shall not result in a Fixed Projected DSCR of less than the Sizing Case DSCR commencing on the first CTA Payment Date following such prepayment (but in all cases, after the First Repayment Date) for each twelve (12) month period thereafter (including any stub period) through the Qualifying Term of the Qualifying LNG SPAs then in effect (with such ratio being calculated on a *pro forma* basis giving effect to the incurrence of the Replacement Debt and the prepayment or repayment of the existing Senior Debt or cancellation of the Facility Debt Commitments);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the Replacement Debt (A) is ranked *pari passu* and is treated *pro rata* in all respects with Senior Debt, and does not benefit from any security or guarantee from the Collateral Parties that is in addition to any security or guarantee from such Persons provided in respect of any then-outstanding Senior Debt (including any Senior Debt Commitments thereunder) unless such security or guarantee is provided for the equal and ratable benefit of each Senior Creditor or (B) is subordinated or unsecured;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;the Replacement Debt does not benefit from any material covenants or terms (excluding pricing or optional prepayment or redemption terms) that are materially more restrictive on the Obligors than those included in this Agreement unless such covenants or terms are provided for the benefit of all Facility Lenders;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;simultaneously with the incurrence of any Replacement Debt that occurs on or after the date by which the Borrower is required to fund the Senior Facilities Debt Service Reserve Account in accordance with Section 4.5(i) (*Deposits and Withdrawals – Senior Facilities Debt Service Reserve Account*) of the Common Security and Account Agreement, the Borrower shall use a portion of the proceeds of such Replacement Debt to fund any increase in the then-applicable Senior Facilities Debt Service Reserve Amount or, if such Replacement Debt does not constitute Facility Debt Obligations, fund any Additional Debt Service Reserve Account opened by the Borrower in accordance with the Common Security and Account Agreement that was established for such Replacement Debt in an amount as required by such Replacement Debt; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;the Intercreditor Agent has received (A) at least three Business Days prior to the incurrence of such Replacement Debt, (1) a notice describing the then-anticipated principal terms and conditions of the proposed Replacement Debt (other than, in the case of Replacement Debt comprised of Senior Notes, the pricing and amortization schedule of such Senior Notes, which shall be provided when they become available) and (2) the substantially agreed forms of the finance documents relating to any proposed Replacement Debt (other than in the case of Replacement Debt comprised of Senior Notes) and (B) on the date of the incurrence of such Replacement Debt, (1) an updated notice describing the final principal terms and conditions of the Replacement Debt (including, in the case of Replacement Debt comprised of Senior Notes, the pricing and amortization schedule of such Senior Notes), (2) copies of the executed finance documents relating to the Replacement Debt and (3) an officer's certificate of the Obligors certifying to the matters set forth in clauses (i) through (vii) above;

*provided* that, in each case, no Loan Facility Event of Default or Unmatured Loan Facility Event of Default has occurred and is Continuing or could reasonably be expected to occur after giving effect to the incurrence of the Replacement Debt. Any provider of Replacement Debt (or a Senior Creditor Group Representative on its behalf) shall accede as a Senior Creditor to the Common Security and Account Agreement and, if a Facility Lender, the Intercreditor Agreement and this Agreement, and shall share *pari passu* or on a junior basis in the Collateral or on an unsecured basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Within 30 days after the first Advance of any Replacement Debt, the Borrower shall pay, from the proceeds of the Replacement Debt or other

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cash flow available for such purpose, any Funding Losses and/or other amounts required to be paid in accordance with Section 3.6 (*Prepayment Fees and Funding Losses*) and the applicable Facility Agreement with respect to the Facility Debt Commitments being replaced.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4&nbsp;&nbsp;&nbsp;&nbsp;Project Phase 2 Development Debt**

At any time following the Project Phase 2 FID Conditions Satisfaction Date, the Borrower may incur additional senior secured, subordinate or unsecured Indebtedness (which, if secured on a *pari passu* basis, shall constitute Senior Debt) or enter into agreements with Persons who commit to provide additional Indebtedness in connection with Project Phase 2 Development ("*Project Phase 2 Development Debt*"), subject to the satisfaction or waiver (unless as otherwise noted below) of each of the following, and no other, conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Project Phase 2 Development Debt (A) is ranked *pari passu* and is treated *pro rata* in all respects with Senior Debt, and does not benefit from any security or guarantee from the Collateral Parties that is in addition to any security or guarantee from such Persons provided in respect of any then-outstanding Senior Debt (including any Senior Debt Commitments thereunder) unless such security or guarantee is provided for the equal and ratable benefit of each Senior Creditor or (B) is subordinated or unsecured;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the net cash proceeds of the Project Phase 2 Development Debt are used solely (i) to pay project costs in connection with the Project Phase 2 Development and/or (ii) for working capital and reserve needs in respect of the Project Phase 2 Development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Senior Debt/Equity Ratio, immediately after giving effect to any incurrence of Project Phase 2 Development Debt, is no greater than 75:25, as certified by the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower will have demonstrated by delivery of an updated Base Case Forecast (prepared in accordance with the Base Case Sizing Criteria) that the incurrence of the Project Phase 2 Development Debt shall not result in a Fixed Projected DSCR (including, for avoidance of doubt, any LNG SPAs that are Qualifying LNG SPAs relating to the Project Phase 2 Development) of less than the Sizing Case DSCR commencing on (i) with respect to the Phase 1 LNG Facility, the First Repayment Date, (ii) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (iii) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion, in each case, for each 12 month period thereafter (including any stub period) through the Maturity Date, based on Cash Flow Available for Debt Service from the Fixed Facility Charge

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under the Qualifying LNG SPAs for the Project that are then in full force and effect (including, for the avoidance of doubt, any additional LNGs SPAs with respect to the Phase 2 LNG Facility that would qualify as Qualifying LNG SPAs following the Project Phase 2 FID Conditions Satisfaction Date) and on a 20-year amortization profile (commencing on (A) with respect to the Phase 1 LNG Facility, the First Repayment Date, (B) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (iii) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion), assuming no lifting and no merchant sales;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;no Event of Default or Unmatured Event of Default (i) has occurred and is Continuing or (ii) could reasonably be expected to occur after giving effect to the incurrence of the Project Phase 2 Development Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;each of the Repeated Representations of the Obligors is true and correct in all material respects, except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects, as to such Obligor immediately after giving effect to the Project Phase 2 Development Debt (or, if stated to have been made solely as of an earlier date, as of such earlier date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the Project Phase 2 Development Debt has a weighted average life no less than the then-remaining weighted average life of that of the Senior Debt or the Facility Debt Commitments following the incurrence of the Project Phase 2 Development Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;the Project Phase 2 Development Debt has a maturity date of no earlier than the Maturity Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if secured, the Senior Creditor Group Representative (on behalf of the Senior Creditors providing Project Phase 2 Development Debt) shall have acceded to (A) the Common Security and Account Agreement pursuant to, and in accordance with, the conditions set forth in Section 2.7 (*Accession of Senior Creditor Group Representatives*) of the Common Security and Account Agreement and (B) if such Senior Creditors are Facility Lenders, the Intercreditor Agreement pursuant to and in accordance with, the conditions set forth in Section 7.6(c) (*Successors and Assigns*) of the Intercreditor Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;the Intercreditor Agent has received (i) at least three Business Days prior to the incurrence of such Project Phase 2 Development Debt, (A) a notice describing the then-anticipated principal terms and conditions of the proposed Project Phase 2 Development Debt (other than, in the case of

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Project Phase 2 Development Debt comprised of Senior Notes, the pricing and amortization schedule of such Senior Notes, which shall be provided when they become available) and (B) the substantially agreed forms of the finance documents relating to any proposed Project Phase 2 Development Debt (other than in the case of Project Phase 2 Development Debt comprised of Senior Notes), and (ii) on the date of the incurrence of such Project Phase 2 Development Debt, (A) an updated notice describing the final principal terms and conditions of the Project Phase 2 Development Debt (including, in the case of Project Phase 2 Development Debt comprised of Senior Notes, the pricing and amortization schedule of such Senior Notes), (B) copies of the executed finance documents relating to the Project Phase 2 Development Debt and (C) the Intercreditor Agent has received an officer's certificate of the Obligors certifying to the matters set forth in clauses (a) through (i) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.5&nbsp;&nbsp;&nbsp;&nbsp;Permitted Internal Expansion Debt**

At any time following the Permitted Internal Expansion FID Conditions Satisfaction Date for any Permitted Internal Expansion, the Borrower may incur senior secured, subordinate or unsecured Indebtedness (which, if secured on a *pari passu* basis, shall constitute Senior Debt) or enter into agreements with Persons who commit to provide additional Indebtedness in connection with such Permitted Internal Expansion (excluding the Project Phase 2 Development) ("*Permitted Internal Expansion Debt*"), subject to the satisfaction or waiver (unless as otherwise noted below) of each of the following, and no other, conditions: 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Permitted Internal Expansion Debt (A) is ranked *pari passu* and is treated *pro rata* in all respects with Senior Debt, and does not benefit from any security or guarantee from the Collateral Parties that is in addition to any security or guarantee from such Persons provided in respect of any then-outstanding Senior Debt (including any Senior Debt Commitments thereunder) unless such security or guarantee is provided for the equal and ratable benefit of each Senior Creditor or (B) is subordinated or unsecured;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the net cash proceeds of the Permitted Internal Expansion Debt are used solely to pay Project Costs in connection with the Permitted Internal Expansion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Senior Debt/Equity Ratio, immediately after giving effect to any incurrence of the Permitted Internal Expansion Debt, is no greater than 75:25;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower will have demonstrated by delivery of an updated Base Case Forecast (prepared in accordance with the Base Case Sizing Criteria) that the incurrence of the Permitted Internal Expansion Debt shall not result in

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a Fixed Projected DSCR of less than the Sizing Case DSCR commencing on (i) with respect to the Phase 1 LNG Facility, the First Repayment Date, (ii) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (iii) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion, in each case, for each 12 month period thereafter (including any stub period) through the Maturity Date, based on Cash Flow Available for Debt Service from the Fixed Facility Charge under the Qualifying LNG SPAs for the Project that are then in full force and effect and on a 20-year amortization profile (commencing on (A) with respect to the Phase 1 LNG Facility, the First Repayment Date, (B) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (C) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;no Event of Default or Unmatured Event of Default (i) has occurred and is Continuing or (ii) could reasonably be expected to occur after giving effect to the incurrence of such Permitted Internal Expansion Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;each of the Repeated Representations of the Obligors is true and correct in all material respects, except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects, as to such Obligor immediately after giving effect to such Permitted Internal Expansion Debt (or, if stated to have been made solely as of an earlier date, as of such earlier date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the Permitted Internal Expansion Debt has a weighted average life no less than the then-remaining weighted average life of that of the Senior Debt or the Facility Debt Commitments following the incurrence of the Permitted Internal Expansion Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;such Permitted Internal Expansion Debt has a maturity date of no earlier than the Maturity Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if secured, the Senior Creditor Group Representative (on behalf of the Senior Creditors providing the Permitted Internal Expansion Debt) shall have acceded to (A) the Common Security and Account Agreement pursuant to, and in accordance with, the conditions set forth in Section 2.7 (*Accession of Senior Creditor Group Representatives*) of the Common Security and Account Agreement and (B) if such Senior Creditors are Facility Lenders, the Intercreditor Agreement pursuant to and in accordance with, the conditions set forth in Section 7.6(c) (*Successors and Assigns*) of the Intercreditor Agreement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;in the event that any assets or material contracts related to the Permitted Internal Expansion being developed with the proceeds of the Permitted Internal Expansion Debt are not part of the Collateral, the Borrower will deliver (or procure that the Obligors deliver) such additional agreements and supplements to the Security Documents, as are necessary or advisable in order to subject such assets or contracts to the Security Interests, at the time the Permitted Internal Expansion Debt is incurred (subject to exclusions for Excluded Assets, as set forth in the Common Security and Account Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate principal amount of Permitted Internal Expansion Debt incurred or committed in respect of such Permitted Internal Expansion shall not exceed seventy-five percent (75)% of the amount of estimated capital costs of such Permitted Internal Expansion in the Construction Budget and Schedule submitted pursuant to Section 7.4(f)(i) (*Permitted Internal Expansion*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;the Intercreditor Agent has received (i) at least five Business Days prior to the incurrence of such Permitted Internal Expansion Debt, (A) a notice describing the then-anticipated principal terms and conditions of the proposed Permitted Internal Expansion Debt (other than, in the case of Permitted Internal Expansion Debt comprised of Senior Notes, the pricing and amortization schedule of such Senior Notes, which shall be provided when they become available) and (B) the substantially agreed forms of the finance documents relating to any proposed Permitted Internal Expansion Debt (other than in the case of Permitted Internal Expansion Debt comprised of Senior Notes), and (ii) on the date of the incurrence of such Permitted Internal Expansion Debt, (A) an updated notice describing the final principal terms and conditions of the Permitted Internal Expansion Debt (including, in the case of Permitted Internal Expansion Debt comprised of Senior Notes, the pricing and amortization schedule of such Senior Notes), (B) copies of the executed finance documents relating to the Permitted Internal Expansion Debt and (C) an officer's certificate of the Obligors certifying to the matters set forth in clauses (a) through (k) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6&nbsp;&nbsp;&nbsp;&nbsp;Supplemental Debt**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may incur senior secured, subordinate or unsecured Indebtedness (which, if secured on a *pari passu* basis, shall constitute Senior Debt) or enter into agreements with Persons who commit to provide additional Indebtedness ("*Supplemental Debt*"), so long as and provided that the Borrower certifies that such Supplemental Debt meets all of the conditions set forth in any one of sub-clause (i) (*Permitted Relevering Debt*) (such Supplemental Debt, "*Permitted Relevering Debt*"),

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sub-clause (ii) (*Permitted Completion Senior Debt*) (such Supplemental Debt, "*Permitted Completion Senior Debt*"), sub-clause (iii) (*PDE Senior Debt*) (such Supplemental Debt, "*PDE Senior Debt*") or sub-clause (iv) (*Restoration Debt*) (such Supplemental Debt, "*Restoration Debt*") below (with the incurrence of such Senior Debt under one such clause not being preclusive of the later permitted incurrence of such Senior Debt under the same or other such clauses assuming compliance with sub-clauses (i) through (iv), as applicable);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Permitted Relevering Debt*

Such Permitted Relevering Debt:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;is incurred at any time on or after the Project Phase 1 Completion Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;(I) is ranked *pari passu* and is treated pro rata in all respects with Senior Debt, and does not benefit from any security or guarantee from the Collateral Parties that is in addition to any security or guarantee from such Persons provided in respect of any then-outstanding Senior Debt (including Senior Debt Commitments thereunder) unless such security or guarantee is provided for the equal and ratable benefit of each Senior Creditor or (II) is subordinated or unsecured;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower will have demonstrated by delivery of an updated Base Case Forecast (prepared in accordance with the Base Case Sizing Criteria) that the incurrence of such Supplemental Debt, shall not result in a Fixed Projected DSCR of less than the Sizing Case DSCR commencing on (x) with respect to the Phase 1 LNG Facility, the First Repayment Date, (y) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (z) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion, in each case, for each 12 month period thereafter (including any stub period) through the Maturity Date, based on Cash Flow Available for Debt Service from the Fixed Facility Charge under the Qualifying LNG SPAs for the Project that are then in full force and effect and on a 20-year amortization profile (measured commencing on (1) with respect to the Phase 1 LNG Facility, the First Repayment Date, (2) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project

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Phase 2 Completion Date, and (3) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;the Senior Debt/Equity Ratio, immediately after giving effect to any incurrence of such Supplemental Debt, is no greater than 75:25;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;no Event of Default or Unmatured Event of Default (I) has occurred and is Continuing or (II) could reasonably be expected to occur after giving effect to the incurrence of such Supplemental Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;each of the Repeated Representations of the Obligors is true and correct in all material respects, except for representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects, as to such Obligor immediately after giving effect to such Supplemental Debt (or, if stated to have been made solely as of an earlier date, as of such earlier date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G)&nbsp;&nbsp;&nbsp;&nbsp;such Supplemental Debt has a weighted average life no less than the then-remaining weighted average life of that of the Senior Debt or the Facility Debt Commitments following the incurrence of the Supplemental Debt; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H)&nbsp;&nbsp;&nbsp;&nbsp;such Supplemental Debt has a maturity date of no earlier than the Maturity Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;*Permitted Completion Senior Debt*

Such Permitted Completion Senior Debt:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;is incurred prior to the Project Phase 1 Completion Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the net cash proceeds of such Permitted Completion Senior Debt are used solely to pay (x) Project Costs and (y) transaction expenses associated with the incurrence of such Permitted Completion Senior Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;(I) is ranked *pari passu* and is treated pro rata in all respects with Senior Debt, and does not benefit from any security or guarantee from the Collateral Parties that is in addition to

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any security or guarantee from such Persons provided in respect of any then-outstanding Senior Debt (including Senior Debt Commitments thereunder) unless such security or guarantee is provided for the equal and ratable benefit of each Senior Creditor or (II) is subordinated or unsecured;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower will have demonstrated by delivery of an updated Base Case Forecast (prepared in accordance with the Base Case Sizing Criteria) that the incurrence of such Supplemental Debt, shall not result in a Fixed Projected DSCR of less than the Sizing Case DSCR commencing on (x) with respect to the Phase 1 LNG Facility, the First Repayment Date, (y) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (z) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion, in each case, for each 12 month period thereafter (including any stub period) through the Maturity Date, based on Cash Flow Available for Debt Service from the Fixed Facility Charge under the Qualifying LNG SPAs for the Project that are then in full force and effect and on a 20-year amortization profile (commencing on (1) with respect to the Phase 1 LNG Facility, the First Repayment Date, (2) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (3) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;the Senior Debt/Equity Ratio, immediately after giving effect to any incurrence of such Supplemental Debt, is no greater than 75:25;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;no Event of Default or Unmatured Event of Default (I) has occurred and is Continuing or (II) could reasonably be expected to occur after giving effect to the incurrence of such Supplemental Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G)&nbsp;&nbsp;&nbsp;&nbsp;each of the Repeated Representations of the Obligors is true and correct in all material respects, except for representations and warranties that are qualified by

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materiality or Material Adverse Effect, which shall be true and correct in all respects, as to such Obligor immediately after giving effect to such Supplemental Debt (or, if stated to have been made solely as of an earlier date, as of such earlier date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H)&nbsp;&nbsp;&nbsp;&nbsp;such Supplemental Debt has a weighted average life no less than the then-remaining weighted average life of that of the Senior Debt or the Facility Debt Commitments following the incurrence of the Supplemental Debt; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I)&nbsp;&nbsp;&nbsp;&nbsp;such Supplemental Debt has a maturity date of no earlier than the Maturity Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;*PDE Senior Debt*

Such PDE Senior Debt:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;may be incurred at any time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;is incurred for the purpose of funding Permitted Development Expenditures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;any assets or material contracts related to the facilities being developed with the proceeds of such PDE Senior Debt that are not part of the Collateral shall be added to the Collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;(I) is ranked *pari passu* and is treated pro rata in all respects with Senior Debt, and does not benefit from any security or guarantee from the Collateral Parties that is in addition to any security or guarantee from such Persons provided in respect of any then-outstanding Senior Debt (including Senior Debt Commitments thereunder) unless such security or guarantee is provided for the equal and ratable benefit of each Senior Creditor or (II) is subordinated or unsecured;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower will have demonstrated by delivery of an updated Base Case Forecast (prepared in accordance with the Base Case Sizing Criteria) that (I) the incurrence of such Supplemental Debt, and (II) the use of proceeds of such Supplemental Debt, in each case shall not result in a Fixed Projected DSCR of less than the Sizing Case DSCR commencing on (x) with respect to the Phase 1 LNG Facility, the First Repayment Date, (y) with respect to the Phase 2 LNG Facility, the first Payment Date occurring

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after the Project Phase 2 Completion Date, and (z) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion, in each case, for each 12 month period thereafter (including any stub period) through the Maturity Date, based on Cash Flow Available for Debt Service from the Fixed Facility Charge under the Qualifying LNG SPAs for the Project that are then in full force and effect and on a 20-year amortization profile (commencing on (1) with respect to the Phase 1 LNG Facility, the First Repayment Date, (2) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (3) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;the Senior Debt/Equity Ratio, immediately after giving effect to any incurrence of such Supplemental Debt, is no greater than 75:25;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G)&nbsp;&nbsp;&nbsp;&nbsp;no Event of Default or Unmatured Event of Default (I) has occurred and is Continuing or (II) could reasonably be expected to occur after giving effect to the incurrence of such Supplemental Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H)&nbsp;&nbsp;&nbsp;&nbsp;each of the Repeated Representations of the Obligors is true and correct in all material respects, except for representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects, as to such Obligor immediately after giving effect to such Supplemental Debt (or, if stated to have been made solely as of an earlier date, as of such earlier date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I)&nbsp;&nbsp;&nbsp;&nbsp;such Supplemental Debt has a weighted average life no less than the then-remaining weighted average life of that of the Senior Debt or the Facility Debt Commitments following the incurrence of the Supplemental Debt; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(J)&nbsp;&nbsp;&nbsp;&nbsp;such Supplemental Debt has a maturity date of no earlier than the Maturity Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;*Restoration Debt*

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Such Restoration Debt:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;may be incurred at any time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;not exceeding an amount outstanding at any one time equal to $250 million; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;is incurred for the purpose of financing the restoration of the Project following damage, loss or destruction of all or a material portion of the Project or an Event of Taking, including any permitted refinancing thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall deliver to the Intercreditor Agent (i) at least five Business Days prior to the incurrence of such Supplemental Debt, (A) a notice describing the then-anticipated principal terms and conditions of the proposed Supplemental Debt (other than, in the case of Supplemental Debt comprised of Senior Notes, the pricing and amortization schedule of such Senior Notes, which shall be provided when they become available) and (B) the substantially agreed forms of the finance documents relating to any proposed Supplemental Debt (other than in the case of Supplemental Debt comprised of Senior Notes) and (ii) on the date of the incurrence of such Supplemental Debt, (A) an updated notice describing the final principal terms and conditions of the Supplemental Debt (including, in the case of Supplemental Debt comprised of Senior Notes, the pricing and amortization schedule of such Senior Notes), (B) copies of the executed finance documents relating to the Supplemental Debt and (C) an officer's certificate of the Obligors certifying to satisfaction of the applicable conditions set forth in clause (a) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;To the extent any Supplemental Debt is incurred on a *pari passu* basis, any provider of such Supplemental Debt (or a Senior Creditor Group Representative on its behalf) shall accede as a Senior Creditor to the Common Security and Account Agreement pursuant to, and in accordance with, the conditions set forth in Section 2.7 (*Accession of Senior Creditor Group Representatives*) of the Common Security and Account Agreement and, if a Facility Lender, the Intercreditor Agreement and this Agreement, and shall share *pari passu* in the Collateral pursuant to and in accordance with, the conditions set forth in Section 7.6(c) (*Successors and Assigns*) of the Intercreditor Agreement.

**7.&nbsp;&nbsp;&nbsp;&nbsp;PERMITTED DEVELOPMENT EXPENDITURES/EXPANSIONS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1&nbsp;&nbsp;&nbsp;&nbsp;Permitted Development Expenditures**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall not make, or provide (following the formation thereof in accordance with Section 7.5 (*External Expansions*)) CFCo with funds

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to make, any Development Expenditures that do not qualify as Permitted Development Expenditures. Assets or property built or acquired with Development Expenditures shall constitute Collateral except as provided in the Security Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;For the avoidance of doubt, (i) Permitted Development Expenditures may be made prior to the Project Phase 1 Completion Date to the extent permitted under Article 9 (*Material Construction Contracts*) and (ii) Permitted Development Expenditures may also be made in relation to an Expansion to the extent permitted under Section 7.2 (*Expansion Contracts*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2&nbsp;&nbsp;&nbsp;&nbsp;Expansion Contracts**

The Obligors shall not enter into a construction contract or contracts with respect to the development of any mixed refrigerant liquefaction blocks, modules and supporting facilities in addition to the Project Facilities (including, prior to the Project Phase 2 FID Conditions Satisfaction Date, in respect of the Project Phase 2 Development and prior to any Permitted Internal Expansion FID Conditions Satisfaction Date, in respect of such Permitted Internal Expansion) (an "*Expansion*") without the prior consent of the Intercreditor Agent acting at the instruction of the Requisite Intercreditor Parties (not to be unreasonably withheld, conditioned or delayed); *provided* that, without such consent the Obligors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;conduct front-end engineering, development and design work using Equity Funding not otherwise committed to other expenditures for the Development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;prepare and submit applications for Permits related to any such Expansion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;undertake pre-construction activities and early works activities associated with an Expansion; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;enter into one or more contracts or agreements that either (i) are not Material Project Agreements and relate (A) to the Project Phase 2 Development prior to the Project Phase 2 FID Conditions Satisfaction Date, so long as (x) such agreements are for Permitted Development Expenditures and (y) either (1) the Obligors do not have any material obligations under such agreements until Project Phase 2 FID Conditions Satisfaction Date or (2) any material obligations thereunder can be suspended without material financial cost by the Obligors, in their sole discretion, under the terms of such contracts or agreements, and (B) to any Permitted Internal Expansion prior to the Permitted Internal Expansion FID Conditions Satisfaction Date relating thereto, so long as (x) such agreements are for Permitted Development Expenditures and (y) either (1) the Obligors do not have any material obligations under such agreements

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until the Permitted Internal Expansion FID Conditions Satisfaction Date or (2) any material obligations thereunder can be suspended without material financial cost by the Obligors, in their sole discretion, under the terms of such contracts or agreements, or (ii) Material Project Agreements relating to Permitted Development Expenditures subject, in each case, to the terms and conditions relating thereto;

*provided* that, the cost of all obligations and liabilities in respect of any Expansion and the activities described in sub-clauses (a) through (d) above that are undertaken by the Obligors (or in respect of which an Obligor has obligations or liabilities) shall be funded (x) directly by the Sponsor or its Affiliates on behalf of the appliable Obligor or (y) with cash equity funded into the Excess Equity Proceeds Account in accordance with the Common Security and Account Agreement, Insurance Proceeds or any Retained Excess Cash Flow, in each case, other than any such funds used to satisfy the In-Construction Sufficiency Condition, as expressly permitted under the Finance Documents and which use for the contemplated development could not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3&nbsp;&nbsp;&nbsp;&nbsp;Project Phase 2 Development**

Except as otherwise permitted under Section 7.2 (*Expansion Contracts*), the Borrower shall not be permitted to undertake the Project Phase 2 Development unless each of the following conditions (the "*Project Phase 2 Development Conditions*") is satisfied or waived:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;if the Borrower will incur indebtedness in connection with the Project Phase 2 Development, the conditions specified in Section 6.4 (*Project Phase 2 Development Debt*) have been satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;no Event of Default or Unmatured Event of Default (i) has occurred and is Continuing or (ii) could reasonably be expected to occur after giving effect to the Project Phase 2 Development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;no actual LNG SPA Prepayment Event or Unmatured LNG SPA Prepayment Event (i) has occurred and is Continuing or (ii) could reasonably be expected to occur after giving effect to the Project Phase 2 Development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Intercreditor Agent of (x) Qualifying LNG SPAs constituting the Required LNG SPAs with respect to the Project (after giving effect to any Project Phase 2 Development Debt) and (y) without limitation of the foregoing clause (x), at least [\*\*\*] MTPA of 1.30x Sizing LNG SPAs with respect to the Project Phase 2 Development, in each case:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;subject to the Delivered Basis Capacity Limitation in clause (B) of the definition thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;each of which shall have been duly authorized, executed and delivered by the parties thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;as to which (1) all conditions precedent thereunder shall have been satisfied or waived, (2) no event of LNG SPA Force Majeure shall have occurred and be continuing and (3) no default, event of default or other event or condition shall have occurred and be continuing that provides the applicable LNG Buyer the right to cancel or terminate such Required LNG SPA in accordance with the terms thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall have entered into sufficient construction contracts for the development, engineering, procurement and construction of the Project Phase 2 Development that the Independent Engineer has certified are reasonably expected to be available to the Borrower for a price not to exceed the assumed pricing in the updated Base Case Forecast referenced in clause (h) and the Intercreditor Agent shall have received a copy of each such contract (other than any Restricted Document which shall be delivered in accordance with the requirements of Section 12.6(c) (*Confidentiality*) of the Common Security and Account Agreement and Section 23.7 (*Confidentiality*) below), which shall have been duly authorized, executed and delivered by the parties thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;if applicable, the Intercreditor Agent shall have received a Direct Agreement in respect of any Subsequent Material Project Agreement with respect to the Phase 2 LNG Facility to the extent required pursuant to Section 3.4 (*Direct Agreements*) of the Common Security and Account Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Intercreditor Agent of true, complete and correct copies of the following documents, in each case taking into account the Project Phase 2 Development and, in each case, in a customary form and not subject to approval or consent by the Intercreditor Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Borrower attaching an updated Construction Budget and Schedule, certifying that (A) such budget and schedule is the best reasonable estimate of the information set forth therein as of the date of such certificate; and (B) such budget and schedule is consistent with the requirements of the Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Borrower attaching an updated Base Case Forecast meeting the requirements specified in clause (h) below and certifying that (A) the projections in the updated Base Case

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Forecast were made in good faith; and (B) the assumptions on the basis of which such projections were made were believed by the Borrower (when made and delivered) to be reasonable and consistent with the updated Construction Budget and Schedule and the Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Borrower certifying that (A) the Project Phase 2 Development could not reasonably be expected to have a Material Adverse Effect or material adverse impact on the construction, operation or maintenance of the Project Phase 1 Development (as in effect prior to giving effect to the Project Phase 2 Development), (B) all material Permits necessary for the Project Phase 2 Development have been duly obtained, were validly issued, satisfy the Permit Appeal Qualification, or are reasonably anticipated to be obtained when required, (C) a description, in reasonable detail of the Project Phase 2 Development, the scheduled date for commencement and proposed date for completion of the Project Phase 2 Development, (D) all insurance necessary for the Project Phase 2 Development has either been obtained or is reasonably anticipated to be obtained when needed, and (E) the satisfaction of the other conditions set forth in this Section 7.3 (*Project Phase 2 Development*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;a certification by the Independent Engineer that the Project Phase 2 Development could not reasonably be expected to have a material adverse impact on the construction, operation or maintenance of the Project Phase 1 Development (as in effect prior to giving effect to the Project Phase 2 Development);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;a due diligence report of the Independent Engineer reviewing (A) the technical and economic feasibility of the Project Phase 2 Development and the environmental compliance and environmental risks relating to the Project Phase 2 Development; (B) the reasonableness and consistency of the updated Construction Budget and Schedule (and concurring with the Borrower's certification in sub-clause (i) above), the relevant construction contract and the assumptions related to the costs and operating performance of the Phase 2 LNG Facility; and (C) the reasonableness of the assumptions underlying the updated Base Case Forecast with respect to assumptions that are within the scope of the Independent Engineer's role under relevant construction contract and this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;an updated final due diligence report of the Market Consultant and the Facility Lenders' common New York counsel with respect to

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each of the Qualifying LNG SPAs in respect of the Project Phase 2 Development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Intercreditor Agent of an updated Base Case Forecast (prepared in accordance with the Base Case Sizing Criteria) (i) that demonstrates (A) that the consummation of the transactions contemplated with respect to the Project Phase 2 Development shall not result in a Fixed Projected DSCR (including, for the avoidance of doubt, any LNG SPAs that are Qualifying LNG SPAs relating to the Project Phase 2 Development) of less than the Sizing Case DSCR commencing on (x) with respect to the Phase 1 LNG Facility, the First Repayment Date, (y) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (z) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion, in each case, for each 12 month period thereafter (including any stub period) through the Qualifying Term of the Qualifying LNG SPAs then in effect and (B) a Senior Debt/Equity Ratio no greater than 75:25, in each case, based on Cash Flow Available for Debt Service from the Fixed Facility Charge under the Qualifying LNG SPAs that are then in full force and effect and on a 20 year amortization profile (commencing on (x) with respect to the Phase 1 LNG Facility, the First Repayment Date, (y) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (z) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion), and assuming no lifting and no merchant sales; (ii) if the Borrower incurs any Project Phase 2 Development Debt, such updated Base Case Forecast has been approved by the lenders providing such Project Phase 2 Development Debt; and (iii) confirmation from the Independent Engineer as to the reasonableness of the assumptions underlying the updated Base Case Forecast with respect to assumptions that are within the scope of the Independent Engineer's role under relevant construction contracts and this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;there shall be binding arrangements (where applicable) in respect of an equity commitment (and related backstop in the form of Acceptable Credit Support) and funding of such equity commitment, either through cash, assumed commissioning cargo proceeds with respect to the Project Phase 2 Development during the commissioning period for the Project Phase 2 Development (in compliance with the requirements for such assumed commissioning cargo proceeds set forth in sub-clause (j) below), in such amount required to maintain a Senior Debt/Equity Ratio of no greater than 75:25;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Intercreditor Agent of evidence that the sum of (i) committed Project Phase 2 Development Debt (if applicable) *plus* (ii) the equity arrangements contemplated by clause (i) above *plus* (iii) any Retained Excess Cash Flow (including any assumed commissioning cargo proceeds with respect to the Project Phase 2 Development during the commissioning period for the Project Phase 2 Development accepted by the lenders under the Project Phase 2 Development Debt and, if there is no Project Phase 2 Development Debt, as determined by the Borrower) shall, in the aggregate, be sufficient to achieve the Project Phase 2 Completion Date by any required date for the achievement of the Project Phase 2 Completion Date (as determined by the providers of Project Phase 2 Development Debt, or if no Project Phase 2 Development Debt is being incurred, the Borrower (in its reasonable discretion and consistent with report of the Independent Engineer delivered pursuant to sub-clause (g)(v) above));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;a certification of the Borrower as to the matters in sub-clause (j) above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;confirmation of the Independent Engineer as to the matters in sub-clause (j) above; *provided* that, with respect to sub-clause (j)(ii), such matters shall be confirmed by the Independent Engineer as reasonable and consistent with the underlying assumptions in the "conservative case" used to determine the Phase 1 Minimum Assumed Commissioning Cargo Proceeds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Intercreditor Agent of the legal opinions set forth in Schedule C-2 (*Table of Requirements for Legal Opinions – Conditions to Project Phase 2 Development*) and in accordance with the requirements therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Phase 2 FID has occurred; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;the Obligors collectively have good, legal and valid real property interests in the applicable portion of the Site pursuant to the Real Property Documents, in each case, as is necessary for the Project Phase 2 Development.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4&nbsp;&nbsp;&nbsp;&nbsp;Permitted Internal Expansion**

Except as otherwise permitted under Section 7.2 (*Expansion Contracts*) or in respect of the Project Phase 2 Development in accordance with Section 7.3 (*Project Phase 2 Development*), the Obligors shall not be permitted to undertake an Expansion of the Project Facilities (including the addition to the Project Facilities of (1) any mixed refrigerant liquefaction blocks, trains, modules, pretreatment facilities and supporting facilities (including power facilities) in addition to the LNG Facility and related storage, transportation, loading,

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unloading and other facilities and equipment, (2) other facilities for producing, storing, loading or unloading LNG or other products required for or associated with the production of LNG, (3) expansion of existing pipelines or construction of new pipelines, and related infrastructure, (4) other additions or modifications of then-existing Project Facilities; and (5) compression to, a looping project relating to, or another expansion of, the CP Express Pipeline), in addition to the Development then in operation or under construction (a "*Permitted Internal Expansion*") unless each of the following conditions (the "*Permitted Internal Expansion Conditions*") is satisfied or waived:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Borrower will incur indebtedness in connection with the Permitted Internal Expansion, the conditions specified in Section 6.5 (*Permitted Internal Expansion Debt*) have been satisfied or (ii) if the Borrower does not incur indebtedness in connection with the Permitted Internal Expansion, the Borrower utilizes (x) the proceeds of cash flows available in the Revenue Account at the *seventh* level of the cash waterfall in Section 4.7 (*Cash Waterfall*) of the Common Security and Account Agreement or (y) voluntary equity contributions (including assumed commissioning cargo proceeds related to such Permitted Internal Expansion) to pay the costs associated with the Permitted Internal Expansion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;no Event of Default or Unmatured Event of Default (i) has occurred and is Continuing or (ii) could reasonably be expected to occur after giving effect to the Permitted Internal Expansion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;no actual LNG SPA Prepayment Event or Unmatured LNG SPA Prepayment Event (i) has occurred and is Continuing or (ii) could reasonably be expected to occur after giving effect to the Permitted Internal Expansion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall have entered into sufficient construction contracts for the development, engineering, procurement and construction of the Permitted Internal Expansion as certified by the Independent Engineer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;if applicable, the Intercreditor Agent shall have received a Direct Agreement in respect of any Subsequent Material Project Agreement to the extent required pursuant to Section 3.4 (*Direct Agreements*) of the Common Security and Account Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Intercreditor Agent of true, complete and correct copies of the following documents, in each case taking into account the Permitted Internal Expansion and, in each case, in a customary form and not subject to approval or consent by the Intercreditor Agent:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Borrower attaching an updated Construction Budget and Schedule, certifying that (A) such budget and schedule is the best reasonable estimate of the information set forth therein as of the date of such certificate; and (B) such budget and schedule is consistent with the requirements of the Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Borrower attaching an updated Base Case Forecast meeting the requirements specified in clause (g) below and certifying that (A) the projections in the updated Base Case Forecast were made in good faith; and (B) the assumptions on the basis of which such projections were made were believed by the Borrower (when made and delivered) to be reasonable and consistent with the updated Construction Budget and Schedule and the Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Borrower certifying that (A) the Permitted Internal Expansion could not reasonably be expected to have a Material Adverse Effect or material adverse impact on the construction, operation or maintenance of the Development (as in effect prior to giving effect to the Permitted Internal Expansion), (B) all material Permits necessary for the Permitted Internal Expansion have been duly obtained, were validly issued, are in full force and effect, satisfy the Permit Appeal Qualification, or are reasonably anticipated to be obtained when required, (C) a description, in reasonable detail, of the proposed Permitted Internal Expansion, the scheduled date for commencement and proposed date for completion of the Permitted Internal Expansion, (D) all insurance necessary for the Permitted Internal Expansion has either been obtained or is reasonably anticipated to be obtained when needed and (E) the other conditions set forth in this Section 7.4 (*Permitted Internal Expansion*) have been satisfied or waived;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;a certification by the Independent Engineer that the Permitted Internal Expansion could not reasonably be expected to have a material adverse impact on the construction, operation or maintenance of the Project Phase 1 Development (as in effect prior to giving effect to the Permitted Internal Expansion);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;a due diligence report of the Independent Engineer reviewing (A) the technical and economic feasibility of the Permitted Internal Expansion and the environmental compliance and environmental risks relating to the Permitted Internal Expansion; (B) the reasonableness and consistency of the updated Construction Budget and Schedule (and concurring with the Borrower's certification in sub-clause (i) above), the relevant construction

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contract and the assumptions related to the costs and operating performance of the Permitted Internal Expansion; and (C) the reasonableness of the assumptions underlying the updated Base Case Forecast with respect to assumptions that are within the scope of the Independent Engineer's role under relevant construction contracts and this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;an updated final due diligence report of the Market Consultant with respect to the Permitted Internal Expansion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Intercreditor Agent of an updated Base Case Forecast (prepared in accordance with the Base Case Sizing Criteria) that demonstrates (i) that the consummation of the transactions contemplated with respect to the Permitted Internal Expansion shall not result in a Fixed Projected DSCR of less than the Sizing Case DSCR commencing on (A) with respect to the Phase 1 LNG Facility, the First Repayment Date, (B) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (C) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion, in each case, for each 12 month period thereafter (including any stub period) through the Qualifying Term of the Qualifying LNG SPAs then in effect and (ii) a Senior Debt/Equity Ratio no greater than 75:25, in each case, based on Cash Flow Available for Debt Service from the Fixed Facility Charge under the Qualifying LNG SPAs for the Permitted Internal Expansion that are then in full force and effect and on a 20 year amortization profile (commencing on (A) with respect to the Phase 1 LNG Facility, the First Repayment Date, (B) with respect to the Phase 2 LNG Facility, the first Payment Date occurring after the Project Phase 2 Completion Date, and (C) with respect to any Permitted Internal Expansion, the first Payment Date occurring after the date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;there shall be binding arrangements (where applicable) in respect of an equity commitment (and related backstop in the form of Acceptable Credit Support) and funding of such equity commitment, either through cash, assumed commissioning cargo proceeds with respect to the Permitted Internal Expansion during the commissioning period for the Permitted Internal Expansion, in such amount required to maintain a Senior Debt/Equity Ratio of no greater than 75:25;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Intercreditor Agent of evidence that the sum of (A) committed Permitted Internal Expansion Debt *plus* (B) the equity arrangements contemplated by clause (h) above *plus* (C) any Retained

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Excess Cash Flow (including any assumed commissioning cargo proceeds with respect to the Permitted Internal Expansion during the commissioning period for the Permitted Internal Expansion accepted by the lenders under the Permitted Internal Expansion Debt and, if there is no Permitted Internal Expansion Debt, as determined by the Borrower shall, in the aggregate, be sufficient to achieve "substantial completion" in respect of such Permitted Internal Expansion by any required date for the achievement of the "substantial completion" in respect of such Permitted Internal Expansion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;a certification of the Borrower as to the matters in sub-clause (i) above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;confirmation of the Independent Engineer as to the matters in sub-clause (i) above; *provided* that, with respect to sub-clause (i)(ii), such matters shall be confirmed by the Independent Engineer as reasonable and consistent with the underlying assumptions in the "conservative case" used to determine the Phase 1 Minimum Assumed Commissioning Cargo Proceeds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;receipt by the Intercreditor Agent of the legal opinions set forth in Schedule C-3 (*Table of Requirements for Legal Opinions – Conditions to Permitted Internal Expansion*) and in accordance with the requirements therein; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;the Facility Lenders holding a majority of the Loans and commitments in respect of the Senior Debt have consented to the Permitted Internal Expansion; *provided* that, in the event any Facility Lender shall fail to respond to a request for such consent within thirty (30) Business Days of such request, such Facility Lender shall be deemed to have provided its consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.5&nbsp;&nbsp;&nbsp;&nbsp;External Expansions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Creation of Common Facilities Company*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 7.5(b) (*External Expansions – Consent to Permitted CFCo Contribution*) below, in connection with an External Expansion, the Borrower may form a new subsidiary that is a CFCo (any such Project Facilities held by CFCo, the "*Common Facilities*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 7.5(b) (*External Expansions – Consent to Permitted CFCo Contribution*) below, in connection with an External Expansion, the Borrower, the Pipeline Company, the Procurement Company or any of their respective Subsidiaries may contribute Common Facilities owned by the Borrower, the Pipeline

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Company, the Procurement Company or any such Subsidiaries to CFCo (such contribution, a "*Permitted CFCo Contribution*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Consent to Permitted CFCo Contribution*. The Borrower, the Pipeline Company, the Procurement Company or any of their respective Subsidiaries may exercise their rights in relation to a Permitted CFCo Contribution under Section 7.5(a) (*External Expansions – Creation of Common Facilities Company*) above if (i) no Unmatured Loan Facility Event of Default or Loan Facility Event of Default has occurred and is Continuing and (ii) the Borrower has obtained the consent of the Facility Lenders holding a majority of the Loans and commitments in respect of the Senior Debt to the proposed contribution of the Common Facilities to CFCo; *provided* that, in the event any Facility Lender shall fail to respond to a request for such consent within thirty (30) Business Days of such request, such Facility Lender shall be deemed to have provided its consent.

**8.&nbsp;&nbsp;&nbsp;&nbsp;LNG SPA COVENANTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1&nbsp;&nbsp;&nbsp;&nbsp;LNG SPA Maintenance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall maintain the Required LNG SPAs unless one or more of such Required LNG SPAs has terminated, in which case the Borrower shall enter into a replacement Qualifying LNG SPA within 180 days following such termination; *provided* that, (x) such replacement will be sufficient to cause, for each 12 month period thereafter (including any stub period) through the Qualifying Term of the Qualifying LNG SPAs, a minimum Fixed Projected DSCR of not less than the Sizing Case DSCR, and (y) the Borrower shall have a further 90 days to enter into such a replacement Required LNG SPA if the following two conditions are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower is diligently pursuing a replacement Qualifying LNG SPA which would be sufficient to cause, for each 12 month period thereafter (including any stub period) through the Qualifying Term of the Qualifying LNG SPAs, a minimum Fixed Projected DSCR of not less than the Sizing Case DSCR; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the termination of such Required LNG SPA could not reasonably be expected to result in a Material Adverse Effect;

and the Intercreditor Agent has received a certification from the Borrower confirming that each such condition above has been met prior to the expiration of the initial 180 day period together with documentation reasonably supporting its certification, which may include, to the extent relevant and applicable, a description of the plans being undertaken and expected schedule for replacement of the terminated Required LNG SPA

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(although commercially sensitive information may be omitted), any measures being taken by the Borrower to address the underlying cause of the termination to the extent relevant to the termination and the replacement process, any interim cash flow mitigation measures being taken by the Borrower (including sales of spot cargoes) and the impact on the Borrower's projected Cash Flow during the subsequent cure period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;A "*Qualifying LNG SPA*" includes each of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Initial LNG SPAs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any LNG SPA entered into for a Qualifying Term in accordance with Section 8.4(a) (*Sale of Supplemental Quantity*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any other LNG SPA that meets each of the following conditions, in each case:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;such LNG SPA is entered into for a Qualifying Term with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;an Investment Grade LNG Buyer (or guaranteed by an Investment Grade entity);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;an LNG Buyer with (or guaranteed by an entity with) consolidated net tangible assets of at least the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I)&nbsp;&nbsp;&nbsp;&nbsp;$9 billion (or, with respect to replacement LNG SPAs and Phase 2 LNG SPAs (subject to clause (f)(ii) of the definition of Project Phase 2 Development Conditions), $7 billion; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(II)&nbsp;&nbsp;&nbsp;&nbsp;$2.25 billion (or, with respect to replacement LNG SPAs and Phase 2 LNG SPAs (subject to clause (f)(ii) of the definition of Project Phase 2 Development Conditions), $2 billion per 1.0 MTPA of ACQ; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;LNG SPAs supported by Acceptable Credit Support (for the benefit of Borrower) in an amount equal to the greater of (1) 50% of the present value of the projected contracted Cash Flows from the Fixed Facility Charge under the applicable LNG SPA during the remaining Qualifying Term of such LNG SPA and (2) 100% of the present value of the

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projected contracted Cash Flows from the Fixed Facility Charge under the applicable LNG SPA during the lesser of (I) the succeeding seven (7) years under such LNG SPA and (II) the remaining term of such LNG SPA; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;delivery of LNG under such LNG SPA is on an FOB basis or, subject to the Delivered Basis Capacity Limitation, on a delivered basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower has delivered to the Intercreditor Agent notice of the proposed terms of such LNG SPA and such terms are (1) not materially less favorable in the aggregate than those set forth in the Phase 1 Initial LNG SPAs or (2) are consistent with then-current Market Terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;the execution of such LNG SPA and performance by the Borrower of its obligations under such LNG SPA shall not result in a breach of any Qualifying LNG SPA then in effect, or any Required Export Authorization then in effect and no additional Required Export Authorizations are necessary in connection with the execution of such LNG SPA; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower has delivered to the Intercreditor Agent a certificate certifying to the matters set forth in clauses (i), (ii), (iii)(A)(1) (if applicable) and (iv) above; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;any other LNG SPAs approved by the Intercreditor Agent (with the consent of the Requisite Intercreditor Parties).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2&nbsp;&nbsp;&nbsp;&nbsp;LNG SPA Mandatory Prepayment**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall be required to make a mandatory prepayment (an "*LNG SPA Mandatory Prepayment*") if either of the events set forth below occurs (each, an "*LNG SPA Prepayment Event*"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower breaches the covenant in Section 8.1 (*LNG SPA Maintenance*) (taking into account the period set forth therein to replace the relevant Required LNG SPA); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any Required LNG SPA, a Required Export Authorization becomes Impaired and the Borrower does not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;provide a reasonable remediation plan (setting forth in reasonable detail proposed steps to reinstate the Required

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Export Authorization or to modify its LNG SPA arrangements, such as through lawful diversions by the counterparty thereto and/or alternative delivery or sale arrangements, such that such Impaired Export Authorization is no longer a Required Export Authorization with respect to any or all such Required LNG SPAs (each such item, an "*Export Authorization Remediation*")) within 30 days following such occurrence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;diligently pursue such Export Authorization Remediation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;cause such Export Authorization Remediation to take effect within 90 days following the occurrence of the Impairment; *provided* that, the Borrower shall have a further 90 days to effect an Export Authorization Remediation if the following two conditions are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower is diligently pursuing its plan for the Export Authorization Remediation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;the Impairment of the Required Export Authorization of such Required LNG SPA could not reasonably be expected to result in a Material Adverse Effect during such subsequent cure period;

and the Intercreditor Agent has received a certification from the Borrower confirming that each such condition above has been met prior to the expiration of the initial 90 day period together with documentation reasonably supporting its certification, which may include, to the extent relevant and applicable, a description of the plans being undertaken for the Export Authorization Remediation (although commercially sensitive information may be omitted), any measures being taken by the Borrower to address the underlying cause of the Impairment to the extent relevant to the Impairment and Export Authorization Remediation, any legal measures being undertaken to reverse the Impairment, any interim cash flow mitigation measures being taken by the Borrower (including sales of spot cargoes), any modification to LNG SPA arrangements such that the Impaired Export Authorization is no longer a Required Export Authorization with respect to any or all such Required LNG SPAs, and the impact on the Borrower's projected Cash Flow during the subsequent cure period, and the Intercreditor Agent (acting on the

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instructions of the Requisite Intercreditor Parties), acting reasonably, has not objected to such certification within 30 days following delivery thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The amount of the Senior Debt (which shall not extend to any Working Capital Debt unless only Working Capital Debt remains outstanding) that the Borrower shall repay and the amount of undrawn Facility Debt Commitments (which shall not include any Working Capital Debt unless only Working Capital Debt remains outstanding) that the Borrower shall cancel upon the occurrence of any LNG SPA Prepayment Event shall be an amount equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate principal amount of Senior Debt then outstanding *plus* the aggregate principal amount of undrawn Facility Debt Commitments; *less*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the maximum amount of Senior Debt that can remain outstanding consistent with the Base Case Sizing Criteria based on the Base Case Forecast and updated to take into account the Required LNG SPAs then in full force and effect (after giving effect to the LNG SPA Prepayment Event) and including any new Qualifying LNG SPAs entered into by the Borrower to replace a Required LNG SPA the termination of which triggered the LNG SPA Prepayment Event.

The Borrower shall provide to the Intercreditor Agent reasonable documentary support to show the amount of Senior Debt to be repaid and Senior Debt Commitments to be cancelled, including the Base Case Sizing Criteria and the updated Base Case Forecast and, to the extent appropriate, the Required LNG SPAs then in effect and reasonable background information regarding Required Export Authorizations with respect to such Required LNG SPAs and supporting the designation of such Export Authorizations as Required Export Authorizations with respect to such Required LNG SPAs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In making the prepayment and cancellation described in clause (b) above, the Borrower shall *first* repay the aggregate principal amount of Senior Debt Obligations then outstanding to the extent required under this Section 8.2 (*LNG SPA Mandatory Prepayment*) or until there are no more Senior Debt Obligations outstanding and if this has not resulted in a prepayment of the amount required to satisfy the test in clause (b) above, shall *second* cancel the aggregate principal amount of Facility Debt Commitments to the extent required under this Section 8.2 (*LNG SPA Mandatory Prepayment*). The prepayment and cancellation made pursuant to this Section 8.2 (*LNG SPA Mandatory Prepayment*) shall be required to be made by the earliest of (i) the 30<sup>th</sup> day following the termination of the

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cure period applicable thereto, (ii) the next Quarterly Payment Date if such date is more than 10 Business Days following the termination of the cure period applicable thereto and (iii) the 10<sup>th</sup> Business Day following the termination of the cure period applicable thereto if the next Quarterly Payment Date is less than 10 Business Days following the termination of the cure period applicable thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Upon completion of the prepayment of Senior Debt and cancellation of Facility Debt Commitments as and to the extent required by clause (b) and (c) above, the LNG SPA Prepayment Event and underlying breach of Section 8.1 (*LNG SPA Maintenance*) or Impairment triggering that LNG SPA Prepayment Event shall no longer be continuing under the Finance Documents in so far as the same set of events, facts or circumstances that caused such breach, Impairment and mandatory prepayment are concerned, but without prejudice to the Borrower's obligations under Section 8.1 (*LNG SPA Maintenance*) and Section 8.2 (*LNG SPA Mandatory Prepayment*) with respect to any other event, fact or circumstance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3&nbsp;&nbsp;&nbsp;&nbsp;Amendment of LNG SPAs**

The Borrower shall not agree to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any amendment or modification of the price or quantity provisions of any Qualifying LNG SPA that results in a reduction of the price or quantity:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if such amendment or modification results in a breach of Section 8.1 (*LNG SPA Maintenance*); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;unless after giving effect to such amendment or modification, the Fixed Projected DSCR starting from the CTA Payment Date for the repayment of principal following the date of such amendment or modification and for each calendar year thereafter through the Qualifying Term of the Qualifying LNG SPAs then in effect is at least the Sizing Case DSCR;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any amendment or modification of any Qualifying LNG SPA that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;could reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;would not be on Market Terms; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;would otherwise violate or conflict with the terms of the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any material waiver, amendment or modification of the governing law, choice of forum, responsibility for the impact of tariffs that shifts any

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additional responsibility therefor to any Obligor, responsibility for shipping (*i.e.*, FOB, DPU or delivery ex-ship/delivered-at-terminal basis) (subject to the ability of the Borrower to replace (i) subject to the Delivered Basis Capacity Limitation, an LNG SPA that is on a FOB basis with an LNG SPA on a DPU or delivery ex-ship/delivered-at-terminal basis; (ii) an LNG SPA that is on a DPU basis with an LNG SPA that is on an FOB basis or delivery ex-ship/delivered-at-terminal basis or (iii) an LNG SPA that is on a delivery ex-ship/delivered-at-terminal basis with an LNG SPA that is on an FOB basis or DPU basis), term (other than an increase), or guarantee or credit support provisions (other than an increase or improvement) of any Qualifying LNG SPA, in each case, if within 60 days following notice of such proposed amendment or modification, the Intercreditor Agent notifies the Borrower in writing of its objection to such proposed amendment or modification; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any amendment or modification of the material elements of the structure or components of the pricing formula or the methodology of calculating the Contract Sales Price or any material term defining the "take-or-pay" obligations of any Qualifying LNG SPA (other than any increase or improvement thereof), in each case, if within 60 days following notice of such proposed amendment or modification, the Intercreditor Agent notifies the Borrower in writing of its objection to such proposed amendment or modification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4&nbsp;&nbsp;&nbsp;&nbsp;Sale of Supplemental Quantity**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall be permitted to enter into LNG SPAs (and, in the case of any LNG SPA on a DPU or delivery ex-ship/delivered-at-terminal basis, shipping arrangements relating thereto) in respect of all or any portion of the Supplemental Quantity, which LNG SPAs may be of any duration, on any terms and, to buyers of any credit quality; *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Required LNG SPAs are then in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;either (A) such LNG SPA has a term that is less than 5 years (measured from the Commercial Operation Date thereunder) or (B) such LNG SPA is entered into with (1) a Phase 1 Initial LNG Buyer, (2) an Investment Grade LNG Buyer (or guaranteed by an Investment Grade entity), (3) an LNG Buyer with (or guaranteed by an entity with) consolidated net tangible assets of at least the greater of: (I) $9 billion (or, with respect to replacement LNG SPAs and Phase 2 LNG SPAs (subject to clause (f)(ii) of the definition of Project Phase 2 Development Conditions), $7 billion; or (II) $2.25 billion (or, with respect to replacement LNG SPAs and Phase 2 LNG SPAs (subject to clause (f)(ii) of the definition of Project Phase 2 Development Conditions), $2 billion per 1.0

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MTPA of ACQ (or guaranteed by an entity with such consolidated net tangible assets) or (4) any other entity approved by the Intercreditor Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;each buyer thereunder is instructed to pay the Contract Sales Price to the Pre-Completion Revenues Account or the Revenue Account as required by Section 8.6 (*Payment of LNG Sales Proceeds*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the performance by the Borrower of its obligations under such LNG SPAs could not reasonably be expected to have a material adverse effect on the ability of the Borrower to perform its obligations under the Required LNG SPAs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the terms of such LNG SPA are (A) not materially less favorable in the aggregate than those set forth in the Phase 1 Initial LNG SPAs or (B) are consistent with then-current Market Terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;the entry into and the terms of such LNG SPA shall not result in a breach or default of any Required LNG SPA then in effect or the Impairment of any then-required material Permit; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;delivery of LNG under such LNG SPA is on an FOB basis, or, subject to the Delivered Basis Capacity Limitation, DPU basis or delivery ex-ship/delivered-at-terminal basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary, the Borrower shall be permitted to enter into the Phase 1 Excess Capacity LNG SPA and any other LNG SPAs or replacements thereof in respect of all or any portion of the Excess Capacity Quantity, which LNG SPAs may be of any duration, on any terms and, to buyers of any credit quality.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.5&nbsp;&nbsp;&nbsp;&nbsp;Sale of Pre-Completion Quantities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall be permitted to enter into LNG SPAs (and, in the case of any LNG SPA on a DPU or delivery ex-ship/delivered-at-terminal basis, shipping arrangements relating thereto) in respect of any LNG produced or to be produced by the Phase 1 LNG Facility prior to the Project Phase 1 Completion Date or by the Phase 2 LNG Facility prior to the Project Phase 2 Completion Date ("*Pre-Completion Quantities*"), which LNG SPAs may be of any duration, on any terms and to buyers of any credit quality; *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Required LNG SPAs are then in full force and effect;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;such LNG SPA has a term that ends no later than the day immediately preceding the Commercial Operation Date (as defined in each such LNG SPA);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;each buyer thereunder is instructed to pay the Contract Sales Price (the "*Pre-Completion Revenues*") to the Pre-Completion Revenues Account as required by Section 8.6 (*Payment of LNG Sales Proceeds*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the performance by the Borrower of its obligations under such LNG SPAs could not reasonably be expected to have a material adverse effect on the ability of the Borrower to perform its obligations under the Required LNG SPAs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the entry into and the terms of such LNG SPA shall not result in a breach or default of any Required LNG SPA then in effect or the Impairment of any then-required material Permit; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;delivery of LNG under such LNG SPA is on an FOB basis, DPU basis or delivery ex-ship/delivered-at-terminal basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.6&nbsp;&nbsp;&nbsp;&nbsp;Payment of LNG Sales Proceeds**

The Borrower shall irrevocably instruct each LNG Buyer to pay the proceeds of sales of LNG under its LNG SPAs directly into:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;for any payments made (i) with respect to any LNG SPA in respect of the Phase 1 LNG Facility prior to the Project Phase 1 Completion Date (but, for the avoidance of doubt, excluding the proceeds of indebtedness and equity contributions and any revenues received under its Phase 1 Initial LNG SPAs) or (ii) with respect to an LNG SPA in respect of the Phase 2 LNG Facility prior to the Project Phase 2 Completion Date, in each case, the Pre-Completion Revenues Account; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Revenue Account for any payments made (i) with respect to an LNG SPA in respect of the Phase 1 LNG Facility on or after the Project Phase 1 Completion Date or (ii) with respect to an LNG SPA in respect of the Phase 2 LNG Facility on or after the Project Phase 2 Completion Date.

**9.&nbsp;&nbsp;&nbsp;&nbsp;MATERIAL CONSTRUCTION CONTRACTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1&nbsp;&nbsp;&nbsp;&nbsp;Change Orders**

Other than with respect to any Change Order specified in Schedule I (*Change Orders*) hereto, the Obligors shall not agree to initiate or consent to (without the consent of the Intercreditor Agent and, in the event any Change Order does not satisfy clause (a)(i) or (a)(ii), in reliance on a certificate from the Independent

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Engineer confirming the items in clause (b), (c) or (d) below) any Change Order that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;increases the contract price of any Phase 1 Material Construction Contract as of the Closing Date or increases the aggregate anticipated Project Costs of the Project Facilities in excess of the costs contemplated by the Construction Budget and Schedule; *provided* that: the Obligors may, without the consent of the Intercreditor Agent (or delivery of any certificate from the Independent Engineer) and subject to sub-clauses (ii) through (vi) below, enter into any Change Order under any Phase 1 Material Construction Contract or other contract if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the amount of any such Change Order is less than $75 million individually and the aggregate of all such Change Orders with respect to the Material Project Agreements and/or other contracts (taken together), is less than $637.5 million collectively since the Closing Date; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if either of the foregoing thresholds is exceeded, the Borrower is able to certify the In-Construction Sufficiency Condition (plus, solely for this purpose, adequate contingency to complete the Phase 1 LNG Facility, determined at the time of such proposed Change Order) (as confirmed by the Independent Engineer);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;modifies any credit support requirements, warranty, Performance Liquidated Damages, Delay Liquidated Damages or Schedule Bonus under any Material Project Agreement in a manner that is materially adverse to the Obligors or the Secured Parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;changes the scope of work or performance testing standards under any Material Project Agreement in a manner materially adverse to the Obligors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;would reasonably be expected to prevent the Borrower from achieving the Project Phase 1 Completion Date by the Phase 1 LNG Facility Date Certain;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;results in the revocation or adverse modification of any material Permit; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;could reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2&nbsp;&nbsp;&nbsp;&nbsp;UOP Pre-Treatment Systems**

No Obligor shall agree to any Change Order that modifies the basis of design of the pre-treatment systems supplied by UOP pursuant to the UOP Pretreatment Contracts that would require subsequent changes to the basis of design for the equipment delivered under any

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of the LTS 2023 Purchase Order, LTS 2024 Purchase Order, PIS 2023 Purchase Order or the PIS 2024 Purchase Order unless the Borrower delivers together with such Change Order a written confirmation from BHES that such modification does not affect any performance guarantee (including any minimum performance guarantee or unconditional performance obligation under any of the LTS 2023 Purchase Order, LTS 2024 Purchase Order, PIS 2023 Purchase Order or the PIS 2024 Purchase Order), in which event such Change Order shall be permitted (subject to Section 9.1 (*Change Orders*)).

**10.&nbsp;&nbsp;&nbsp;&nbsp;REPORTING BY THE BORROWER**

The Borrower shall be bound by the following reporting obligations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1&nbsp;&nbsp;&nbsp;&nbsp;Accounting, Financial and Other Information**

The Borrower shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;furnish to the Intercreditor Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;within 60 days following the end of the first three fiscal quarters of each fiscal year, beginning with the fiscal quarter ending June 30, 2025, (x) the unaudited consolidating balance sheet of the Obligors as of the end of such quarter, (y) the unaudited consolidating statement of operations of the Obligors for such quarter and the portion of the fiscal year through the end of such quarter, and (z) the unaudited statement of cash flows of the Obligors for the portion of the fiscal year through the end of such quarter; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;within 120 days after the end of each fiscal year beginning with the fiscal year ending December 31, 2025, the Obligors' consolidating annual financial statements, audited by the Independent Accountants, accompanied by an audit opinion of such Independent Accountants to the effect that such financial statements fairly present, in all material respects, the financial position and results of operations and cash flows of the Obligors in accordance with GAAP (which opinion shall not be subject to any "going concern" qualification); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;(A) concurrently with the delivery of the financial statements pursuant to clause (a)(i) above for each fiscal quarter beginning with the fiscal quarter ending June 30, 2026, (x) in comparative form, the unaudited consolidating balance sheet of the Obligors as of the end of the prior fiscal year, (y) in comparative form, the unaudited consolidating statement of operations of the Obligors for such quarter and the portion of the fiscal year through the end of such quarter for the corresponding period in the previous year and (z) in comparative form, the unaudited statement of cash flows of

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the Obligors for the portion of the fiscal year through the end of such quarter for the corresponding period in the previous year and (B) concurrently with the delivery of the financial statements pursuant to clause (a)(ii) above for each fiscal year beginning with the fiscal year ending December 31, 2026, comparative form financial statements with respect to the prior fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;concurrently with the delivery of the financial statements pursuant to clause (a) above, furnish:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;a certificate executed by an Authorized Officer of each of the Obligors certifying that such financial statements fairly present in all material respects the financial condition and results of operations of the Obligors on the dates and for the periods indicated in accordance with GAAP, subject, in the case of a quarterly financial statement, to the absence of notes and normal year-end audit adjustments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate executed by an Authorized Officer of the Borrower certifying that no Unmatured Loan Facility Event of Default or Loan Facility Event of Default exists as of the date of such certificate or, if any Unmatured Loan Facility Event of Default or Loan Facility Event of Default exists, specifying the nature and extent thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;a written summary of Gas Hedging Instruments entered into by any Obligor, detailing aggregate outstanding contract volumes, price ranges of such Gas Hedging Instruments and the associated value at risk with respect to such Gas Hedging Instruments for the Development as of the end of each quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Upon a reasonable request from any Facility Agent, furnish (i) any change in the information provided in the Beneficial Ownership Certification that would result in a change to the list of beneficial owners identified in sections (i) or (ii) of such certification and (ii) any documents that are required in order for each Facility Lender to carry out all necessary "know your customer" or similar requirements, including those reasonably required to ensure compliance with anti-money laundering procedures (including the USA Patriot Act) in its relevant jurisdiction, in each case under this clause (ii) to the extent not otherwise delivered to the relevant Finance Party at or prior to the Closing Date or subsequently delivered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2&nbsp;&nbsp;&nbsp;&nbsp;Quarterly Historical DSCR Certificate**

Commencing from the last day of each full fiscal quarter following the First Repayment Date, no later than concurrently with the delivery of the financial

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statements pursuant to Section 10.1(a) (*Accounting, Financial and Other Information*), the Borrower shall calculate and deliver to the Collateral Agent its calculation of the Historical DSCR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3&nbsp;&nbsp;&nbsp;&nbsp;Notices**

The Borrower shall provide prompt written notice to the Intercreditor Agent and each Facility Agent upon any Obligor having Knowledge of any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Unmatured Loan Facility Event of Default or Loan Facility Event of Default and any action being taken or proposed to be taken with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;damage, loss or destruction of all or a material portion of the Project Facilities or an Event of Taking in excess of $125 million in value or any series of such events or circumstances during any 12-month period in excess of $375 million in value in the aggregate, or the initiation of any insurance claim proceedings with respect to any such event; 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;claim, Environmental Claim, suit, arbitration, litigation or similar proceeding pending or threatened in writing (i) with respect to or against the Development or the Collateral Parties (A) in which the amount involved is in excess of $375 million; (B) that could reasonably be excepted to have a Material Adverse Effect; or (C) involving injunctive or declaratory relief; or (ii) involving any other party to any of the Material Project Agreements, in each case, which could reasonably be expected to have a Material Adverse Effect or result in a Loan Facility Event of Default, and, in each case, copies or summaries thereof and a description of any action being taken or proposed to be taken with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;dispute, litigation, investigation or proceeding between any Governmental Authority and a Collateral Party involving the Development in which the amount involved is in excess of $375 million or that could reasonably be expected to have a Material Adverse Effect, in each case, including a reasonable summary thereof; 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;force majeure event in respect of the Development reasonably expected to exceed 30 consecutive days, including its expected duration and any action being taken or proposed to be taken with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;cessation of activities by any of the Construction Contractors, the Manager or the Operator or the Pipeline Operator, as applicable, related to the Development that is not otherwise reflected in the Construction Budget and Schedule and could reasonably be expected to exceed 60 consecutive days;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;unless previously notified pursuant to another provision in the Finance Documents, event, occurrence or circumstance that could reasonably be expected to cause:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;an increase of more than an aggregate of $200 million in Project Costs which has not been previously notified pursuant to Article 9 (*Material Construction Contracts*); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Operation and Maintenance Expenses to exceed the amount budgeted therefor by 10% or more in the aggregate per annum or 20% per line item per annum, but excluding, for purposes of calculating the foregoing increases, amounts in the then-effective Operating Budget for Gas purchases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;an ERISA Event or any other event or circumstance that could reasonably be expected to result in material liability to any Collateral Party under ERISA or under the Code with respect to any Plan or Multiemployer Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;material modifications to any Senior Debt Instrument, together with copies of such modifications;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;material Permit obtained by a Collateral Party or for the benefit of the Development not previously delivered, when available to the Collateral Party, together with a copy of such Permit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;material written statement or report received by a Collateral Party from Operator or the Pipeline Operator, as applicable, pursuant to the O&M Agreements together with a copy of such statement or report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Impairment of any material Permit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;notice to be delivered or received pursuant to any Material Project Agreement that is material to the Development, together with a copy thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;prepayment of Senior Debt resulting in a Hedging Excess Amount, which notice shall certify:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the total amount of such Hedging Excess Amount; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the allocation of the Hedging Excess Amount across the applicable Permitted Hedging Instruments in respect of which the hedged amount is to be reduced;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;execution of material agreements entered into by an Obligor after the Closing Date, which notices shall be provided at least five Business Days

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prior to the execution of any such agreement or earlier if expressly specified herein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;when available, copies (with commercially sensitive information redacted) of material agreements entered into by an Obligor after the Closing Date (not already delivered to the Intercreditor Agent pursuant to another provision of the Finance Documents);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;event (other than any event specified above) that could reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;on an annual basis, a copy of the Composite ADP (as such term is defined in each Phase 1 Initial LNG SPA or any other Qualifying LNG SPA) provided by the Borrower under the Phase 1 Initial LNG SPAs and Qualifying LNG SPAs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;any failure by the Borrower to deliver at least 50% of the LNG required to be made available by the Borrower in accordance with the applicable delivery schedule under any Qualifying LNG SPA in any month, and any action taken or proposed to be taken in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4&nbsp;&nbsp;&nbsp;&nbsp;Construction Reports**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Prior to the Project Phase 1 Completion Date, as soon as available and in any event:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;within 30 days following the end of each month (or if such date is not a Business Day, the following Business Day), the Borrower shall deliver to the Intercreditor Agent, each Facility Agent and the Independent Engineer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;each of the construction reports provided to the Obligors by the contractors identified in Annex 1 of Exhibit A to the Phase 1 EPC Contract and the Phase 1 Pipeline Construction Contracts for the subject month;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the executive summary report prepared by the Sponsor and provided to the Obligors for the subject month;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;progress curves for the component parts and the consolidated Phase 1 LNG Facility showing the planned and actual progress for the Project and such progress curves for the consolidated Phase 1 LNG Facility shall be based on the agreed weightings for each component part of the Project;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;a table showing the Construction Budget and Schedule as of the Closing Date, cash spend to date under each contract identified in Annex 1 of Exhibit A to the Phase 1 EPC Contract and the Phase 1 Pipeline Construction Contracts, and the then-projected final cost of each contract identified in Annex 1 of Exhibit A to the Phase 1 EPC Contract and the Phase 1 Pipeline Construction Contracts and the overall Project, the forecast of which shall be updated no less frequently than semi-annually with qualitative associated cost trend reports issued no less frequently than three times a year; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;to the extent not already included in the reports described in clauses (a)(i)(A) through (D) above, a listing of reportable environmental, health and safety incidents, any material unplanned related impacts, events, accidents or issues, and any material non-compliance with Environmental Laws during the report period, and any amendments, modifications or updates to the Environmental and Social Management Plan and Equator Principles Action Plan that occurred during the report period (such information under clauses under sub-clauses (a)(i)(A) through (E), the "*Supplied Reporting Data*");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;by the fifteenth Business Day following receipt of the Supplied Reporting Data, a report outlining and detailing any exceptions or issues with the Supplied Reporting Data issued by the Independent Engineer regarding any material concern with respect to the Supplied Reporting Data; *provided* that, the failure to provide such by-exception report pursuant to this sub-clause (ii) by the fifteenth Business Day following receipt of such Supplied Reporting Data (other than as a result of an act or omission by the Borrower or its Affiliates) shall not constitute an Unmatured Loan Facility Event of Default or a Loan Facility Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;On not less than a quarterly basis, the Independent Engineer shall attend the Manager's monthly meeting with, at a minimum, the contractors party to the Phase 1 Material Construction Contracts, visit and inspect the Project Facilities and prepare a detailed quarterly construction report. Such quarterly construction report prepared by the Independent Engineer shall be issued within 15 Business Days after the end of such site visit and shall set forth the following in reasonable detail:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the estimated date on which the Independent Engineer expects the Borrower to load its first LNG tanker with LNG produced at the Project;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the estimated date on which the Project Phase 1 Completion Date shall be achieved;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower's estimate of overall completion at the end of the subject quarter together with the Independent Engineer's observations on same;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the then-current estimate of anticipated Project Costs through the Project Phase 1 Completion Date as compared to the then current Construction Budget and Schedule and in the event of a material variance (more than five percent (5%)), the reasons therefor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;any event or circumstance the occurrence of which could reasonably be expected to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;increase the total Project Costs materially (more than five percent) above those set forth in the then current Construction Budget and Schedule;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;delay the Project Phase 1 Completion Date beyond the Phase 1 LNG Facility Date Certain (as reasonably anticipated by the Borrower as of such time); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;if the Project Phase 1 Completion Date is not anticipated to occur on or before the Phase 1 LNG Facility Date Certain, the reasons therefor (and a discussion of the schedule recovery plan and status of preparation and implementation);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;the status of construction of the Project Facilities, including progress under each contract identified in Annex 1 of Exhibit A to the Phase 1 EPC Contract (and a description of any material defects or deficiencies with respect thereto), observations on the general appearance of the Project Facilities and the proposed construction schedule for the following 90 days of the Project Facilities, including a description, as compared with the then current Construction Budget and Schedule, of the status, as applicable, of engineering, procurement, construction, commissioning and testing;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;the status of construction of the CP Express Pipeline, the condition of the right-of-way and environmental compliance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;the status of construction of the interconnection facilities being constructed in accordance with each of the Phase 1 Gas Transportation Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;a copy of any filing made by an Obligor with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;FERC with respect to the Development; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the DOE with respect to the export of LNG from the Project Facilities;

(except in each case such filings as are routine or ministerial in nature), which copy may be provided by means of a link to the website where such filing is posted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;a copy of any filing made by any Person other than an Obligor with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;FERC with respect to the Development in any proceeding in which an Obligor is the captioned party or respondent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the DOE with respect to the export of LNG from the Project Facilities in any proceeding in which an Obligor is the captioned party or respondent,

(except in each case such filings as are routine or ministerial in nature), which copy may be provided by means of a link to the website where such filing is posted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)&nbsp;&nbsp;&nbsp;&nbsp;updates to Schedule F (*Material Permits*) hereto reflecting the status of any material Permits necessary for the Development, including the dates of applications submitted or to be submitted and the anticipated dates of actions by Governmental Authorities with respect to such Permits; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)&nbsp;&nbsp;&nbsp;&nbsp;a discussion of reportable environmental, health and safety incidents, any material unplanned related impacts, events, accidents or issues, and any material non-compliance with Environmental Laws during the report period, and any amendments, modifications or updates to the Environmental and Social Management Plan and Equator Principles Action Plan that occurred during the report period.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5&nbsp;&nbsp;&nbsp;&nbsp;Operating Budget**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;No less than 30 days after the first production of LNG from the Project, and no less than 30 days prior to the beginning of each calendar year thereafter, the Obligors shall prepare a proposed operating plan and budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Obligors and the Development for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer and the Intercreditor Agent with a copy of such operating plan and budget (the "*Operating Budget*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Operating Budget shall be prepared in accordance with a form provided to and accepted by the Independent Engineer prior to the Project Phase 1 Completion Date in its reasonable judgment (with any material changes to such form as may be confirmed to be reasonable by the Independent Engineer).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each Operating Budget shall set forth all material assumptions used in the preparation of such Operating Budget and each such Operating Budget shall become effective 30 days following delivery thereof to the Intercreditor Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall provide notice to the Independent Engineer and Intercreditor Agent of any material amendments to the Operating Budget that occur during the course of a calendar year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6&nbsp;&nbsp;&nbsp;&nbsp;Operating Statements and Reports**

Within 60 days following the end of each fiscal quarter (other than the last fiscal quarter of any fiscal year) and 90 days following the end of each fiscal year, commencing with the close of the first full fiscal quarter after the Commercial Operation Date under any of the Required LNG SPAs then in effect, the Borrower shall deliver to the Intercreditor Agent and the Independent Engineer quarterly and annual operating statements, respectively, which shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;correspond to the expenditure categories and monthly periods of the current annual Operating Budget and show all Cash Flows and all expenditures for Operation and Maintenance Expenses during such quarterly period and for the portion of the Borrower's fiscal year then ended, and the fiscal year then ended, respectively;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;in the case of the quarterly operating statement, include:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;updated estimates of Operation and Maintenance Expenses for the balance of such fiscal year to which the operating statement relates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a summary of key performance indicators used to monitor the operation of the Project Facilities during such quarterly period and capacity test results if any are performed during such quarterly period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;records on efficiency, performance and availability of the Project Facilities during such fiscal quarter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;discussion of any material deviation from the requirements set forth in Section 12.3 (*Project Construction; Maintenance of Properties*), stating in reasonable detail the necessary qualifications to such requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the cause, duration and projected loss of Cash Flows attributable to each material scheduled and unscheduled interruption in the liquefaction and other services to be provided under the LNG SPAs by the Project Facilities during such fiscal quarter and, with respect to any interruptions caused by a material defect or failure, the cause of and cost to repair such defect or failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;a listing of reportable environmental, health and safety incidents, any material unplanned related impacts, events, accidents or issues, and any material non-compliance with Environmental Laws, and any amendments, modifications or updates to the Environmental and Social Management Plan and Equator Principles Action Plan that occurred during the report period and status of the implementation of the obligations under the Environmental and Social Management Plan and Equator Principles Action Plan (including IFC Performance Standards) and resolution of any formal grievances during the calendar quarter (annotated as applicable by the Independent Engineer); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;a summary of firm Gas supply arrangements into which the Borrower has entered and listing the pipelines with which firm transportation agreements have been executed and the volumes of capacity associated therewith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;include a copy of any filing made by an Obligor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;with FERC with respect to the Development; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;with the DOE with respect to the export of LNG from the Project Facilities,

(except in each case such filings as are routine or ministerial in nature), which copy may be provided by means of a link to the website where such filing is posted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;include a copy of any filing made by any Person other than an Obligor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;with FERC with respect to the Development in any proceeding in which an Obligor is the captioned party or respondent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;with the DOE with respect to the export of LNG from the Project Facilities in any proceeding in which an Obligor is the captioned party or respondent,

(except in each case such filings as are routine or ministerial in nature), which copy may be provided by means of a link to the website where such filing is posted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;be accompanied by a statement of sources and uses of funds for the periods covered by it and a discussion of the reason for any material:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;variance from the amount budgeted therefor in the relevant Operating Budget; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;variance in the actual costs for the then-current period from the costs incurred during the prior period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;be certified as materially complete and correct by an Authorized Officer of the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7&nbsp;&nbsp;&nbsp;&nbsp;Insurance Reporting**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall provide to the Intercreditor Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;evidence of Minimum Insurance set forth on, and subject to the provisions of, the Schedule of Minimum Insurance:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;by the Closing Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;upon the renewal or replacement of any insurance policy required under the Schedule of Minimum Insurance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;notice as soon as reasonably practicable of:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;any failure to pay any premium on Minimum Insurance (and in any case, by the date falling ten days after it is due);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;any actual or reasonably anticipated material reduction in Minimum Insurance coverage (and in any case, within five Business Days after becoming aware of such reduction);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;any failure to maintain Minimum Insurance coverage (including any cancellation, termination or suspension (for any reason) of any Minimum Insurance) (and in any case, within five Business Days after becoming aware of such cancellation, termination or suspension);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;any single loss or event likely to give rise to a property damage or liability claim against an insurer for an amount in excess of $150 million (and in any case, within five Business Days after becoming aware of such loss or event);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;without prejudice to its other obligations under this Section 10.7 (*Insurance Reporting*), Article 5 (*Insurance and Condemnation Proceeds and Performance Liquidated Damages*) of the Common Security and Account Agreement or Section 12.28 (*Insurance Covenant*), any fact, event or circumstance that has caused, or that with the giving of notice or lapse of time would cause, it to be in breach of any provision of this Section 10.7 (*Insurance Reporting*), Article 5 (*Insurance and Condemnation Proceeds and Performance Liquidated Damages*) of the Common Security and Account Agreement or Section 12.28 (*Insurance Covenant*) or the requirements of any of the Borrower's Minimum Insurance policies, and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;the steps it proposes to take in order to remedy such breach or, if such breach cannot be remedied, to mitigate the risk or liability to which the Project Facilities have been or shall reasonably be expected to be exposed by virtue of the occurrence of such breach; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;its good faith estimate of the period required to implement, and the cost of, such steps.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The evidence of Minimum Insurance provided pursuant to Section 10.7(a)(i)(A) (*Insurance Reporting*) above shall be provided in the form of certificates of insurance, binders or other customary documentation evidencing the existence of all insurance required to be maintained at such

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time by the Obligors, together with a certificate of the Borrower setting forth the insurance obtained and stating:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;that such insurance required to be maintained at such time by the Obligors as set forth in the Schedule of Minimum Insurance has been obtained and in each case is in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;that such insurance complies with the requirements of the Schedule of Minimum Insurance and is otherwise in accordance with the Finance Documents in all material respects; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;that all premiums then due and payable on all such insurance have been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8&nbsp;&nbsp;&nbsp;&nbsp;Copies of Finance Documents**

Promptly following the Closing Date and following entry by any Obligor into a new Finance Document, the Borrower shall deliver copies of such newly executed Finance Document to the Collateral Agent, Intercreditor Agent, each Facility Agent and each Facility Lender party to the Finance Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.9&nbsp;&nbsp;&nbsp;&nbsp;Early Cargo Projections**

Within ten (10) Business Days after the end of (a) each calendar quarter (beginning with the calendar quarter that is one year prior to the start of the first calendar quarter during which the Borrower reasonably expects to export commissioning cargoes from the Phase 1 Project Facilities) and (b) each calendar month (beginning with the calendar month that is three months prior to the start of the first calendar month during which the Borrower reasonably expects to export commissioning cargoes from the Phase 1 Project Facilities), Early Cargo Projections (or updated Early Cargo Projections, as applicable), together with a certificate of the Borrower that the projections and pro forma financial information contained in the Early Cargo Projections are based upon good faith estimates and assumptions believed by management of the Borrower to be reasonable at the time made in light of the legal and factual circumstances then applicable to the Project, it being recognized by the Lenders that such projections and pro forma financial information as they relate to future events are not to be viewed as fact and that actual results during the period or periods covered by such projections and pro forma financial information may differ from the projected results set forth therein by a material amount.

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**11.&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTED PAYMENTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Restricted Payments**

Restricted Payments may be made; *provided* that, each of the following, and no other, conditions has been satisfied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;no Loan Facility Event of Default or Unmatured Loan Facility Event of Default has occurred and is Continuing or could reasonably be expected to occur as a result of such Restricted Payment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) the Historical DSCR for the most recent 12-month period (calculated for this purpose based on the rolling four-quarter average unless the Project Phase 1 Completion Date has occurred less than four full quarters prior and excluding any amount contributed during such measurement period under the cure right in Section 12.25 (*Historical DSCR*)) and (ii) the Fixed Projected DSCR for the 12-month period beginning on the Quarterly Payment Date on or immediately prior to the proposed date of the Restricted Payment are, in each case, at least 1.25:1;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Senior Facilities Debt Service Reserve Account is funded (with cash or Acceptable Debt Service Reserve LCs) in an amount equal to the Senior Facilities Debt Service Reserve Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Project Phase 1 Completion Date has occurred;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;no outstanding LC Loans (as defined in the Credit Facility Agreement) or LC Reimbursement Payments are outstanding as of the date of such Restricted Payment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;(i) the then-Required LNG SPAs are in full force and effect and (ii)(A) no actual LNG SPA Prepayment Event or Unmatured LNG SPA Prepayment Event has occurred and is continuing in respect of which the prepayment and cancellation required by the occurrence of such event in accordance with Section 8.2 (*LNG SPA Mandatory Prepayment*) has not been made in full or (B) Acceptable Credit Support has been provided in an amount equal to the lesser of (1) the amount of the Restricted Payment that is proposed to be made and (2) the maximum amount that would be mandatorily payable pursuant to Section 8.2 (*LNG Sales Mandatory Prepayment*) as a result of the relevant LNG SPA Prepayment Event or Unmatured LNG SPA Prepayment Event, that will be drawn or called and deposited in cash in the Revenue Account by the Borrower in the event that a mandatory prepayment of Senior Debt is triggered pursuant to Section 8.2 (*LNG Sales Mandatory Prepayment*) if the Borrower does not have sufficient cash at the relevant level of the cash waterfall under

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Section 4.7 (*Cash Waterfall*) of the Common Security and Account Agreement to make such mandatory prepayment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;no other Restricted Payment (other than any Restricted Payment permitted under Section 11.2 (*Certain Restricted Payments*) or Section 11.3 (*Pre-Completion Revenue Restricted Payments*) has been made during the calendar month of the proposed Restricted Payment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;at least two Business Days prior to the proposed date of such Restricted Payment, the Intercreditor Agent has received a certificate from the Borrower confirming that each of the conditions set forth in this Section 11.1 (*Conditions to Restricted Payments*) have been satisfied and setting forth the calculation of the Historical DSCR and the Fixed Projected DSCR in clause (b) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2&nbsp;&nbsp;&nbsp;&nbsp;Certain Restricted Payments**

The following payments may be made at any time in accordance with the terms of this Agreement and the other Finance Documents, without complying with the conditions set forth in Section 11.1 (*Conditions to Restricted Payments*):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;reimbursements of equity pursuant to Section 3.4(a)(ii) (*Mandatory Prepayments – Performance Liquidated Damages*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;reimbursements of equity (other than any Equity Contributions) pursuant to Section 5.2(h) (*Insurance and Condemnation Proceeds*) of the Common Security and Account Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;reimbursements of Drawstop Equity Contributions in accordance with Section 4.5(d)(iii) (*Deposits and Withdrawals – Construction Account*) of the Common Security and Account Agreement, but subject to all conditions precedent set forth in Section 4.2 (*Conditions to Each Term Loan Advance*) for an Advance in connection with such reimbursement of the Drawstop Equity Contributions have been met or waived (regardless of whether any Advance is then being requested, *provided* that, in such case, in addition to any certifications and other deliverables that are (or would be) required in connection with making of an Advance, the Obligors have certified to the Intercreditor Agent the satisfaction of the In-Construction Sufficiency Condition (but excluding any Phase 1 Minimum Assumed Commissioning Cargo Proceeds in clause (b) of the definition thereof)), and solely to the extent the proceeds of such Drawstop Equity Contributions have been used to pay Project Costs and the Senior Debt/Equity Ratio is not greater than 75:25 after such borrowings and reimbursements;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments to the Pledgor solely to the extent the amount of such Restricted Payments are promptly contributed to the Borrower or the Guarantors, respectively, as an Investment in accordance with Section 12.19(j) (*Limitation on Investments and Loans*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 7.5 (*External Expansions*), the issuance of Equity Interests of CFCo to the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3&nbsp;&nbsp;&nbsp;&nbsp;Pre-Completion Revenue Restricted Payments**

Notwithstanding anything to the contrary in Section 11.1 (*Conditions to Restricted Payments*), Restricted Payments in respect of Pre-Completion Revenues may be made on and prior to (x) with respect to any Pre-Completion Revenues in respect of the Phase 1 Project Facilities, the Project Phase 1 Completion Date, and (y) with respect to any Pre-Completion Revenues in respect of the Phase 2 LNG Facility, the Project Phase 2 Completion Date, *provided* that, in each case, each of the following, and no other, conditions has been satisfied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;no Loan Facility Event of Default or Unmatured Loan Facility Event of Default has occurred and is Continuing or could reasonably be expected to occur as a result of such Restricted Payment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;achievement of an annualized LNG production rate of [\*\*\*] MTPA for [\*\*\*] days (as verified by the Independent Engineer);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the sum (computed without duplication) of (i) the remaining undrawn amount of the Facility Debt Commitments and/or the proceeds of any Supplemental Debt or Replacement Debt (in each case, solely to the extent the proceeds of such Indebtedness may be used solely for the payment of Project Costs in respect of the Phase 1 Project Facilities) to be deposited into the Construction Account for the payment of such Project Costs, funds on deposit in the Construction Account (including any Equity Funding remaining on deposit in the Construction Account), Contingency Reserve Account, the Pre-Completion Revenues Account, the Disbursement Accounts and the Permitted Finance Costs Reserve Account (in each case, solely to the extent such amounts on deposit in such account may be used solely for the payment of Project Costs in respect of the Phase 1 Project Facilities), (ii) in the case of the Phase 1 DSRA, any Phase 1 Minimum Assumed Commissioning Cargo Proceeds (without duplicating Phase 1 Minimum Assumed Commissioning Cargo Proceeds included in the calculation under clause (iii) below), and (iii) in the case of the Updated Contingency Amount and the Phase 1 Completion Costs, Phase 1 Contracted Commissioning Cargo Proceeds (excluding any such amounts derived from contracted cargoes with affiliates of the Obligors, unless such cargoes are on a back-to-back basis with a non-affiliate of the

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Obligors) are, collectively, equal to or in excess of the Contingency Reserve Requirement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Obligors have certified to the Intercreditor Agent, and the Independent Engineer has confirmed, (i) satisfaction of the In-Construction Sufficiency Condition (including to the extent not otherwise included in the amounts used to determine satisfaction of the In-Construction Sufficiency Condition, the Contingency Reserve Requirement) and (ii) that the Borrower is reasonably expected to achieve the Phase 1 Project Completion Date by the Phase 1 LNG Facility Date Certain;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Fixed Projected DSCR prospectively measured for the 12-month period beginning on the then projected first Quarterly Payment Date in respect of the Term Loans to occur after the Project Phase 1 Completion Date is at least 1.25:1;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;no outstanding LC Loans (as defined in the Credit Facility Agreement) or LC Reimbursement Payments are outstanding as of the date of such Restricted Payment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the then-Required LNG SPAs are in full force and effect and no actual LNG SPA Prepayment Event or Unmatured LNG SPA Prepayment Event has occurred and is continuing in respect of which the prepayment and cancellation required by the occurrence of such event in accordance with Section 8.2 (*LNG SPA Mandatory Prepayment*) has not been made in full;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;no other Restricted Payment under this Section 11.3 (*Pre-Completion Revenue Restricted Payments*) has been made during the calendar month of the proposed Restricted Payment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;with respect to Pre-Completion Revenues in respect of the Phase 2 LNG Facility, such additional conditions to be agreed with the providers of the Project Phase 2 Development Debt (if any); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;at least two Business Days prior to the proposed date of such Restricted Payment, the Intercreditor Agent has received a certificate from the Borrower confirming that each of the conditions set forth in this Section 11.3 (*Pre-Completion Revenue Restricted Payments*) have been satisfied and setting forth the calculation of the Fixed Projected DSCR in clause (e) above.

**12.&nbsp;&nbsp;&nbsp;&nbsp;OBLIGOR COVENANTS**

Each Obligor shall comply at all times with the following covenants (*provided* that, if complying with any covenant in Section 12.1 (*Use of Proceeds*) or Section 12.6 (*Compliance with Law*) would result in any Excluded Lender breaching the Blocking

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Regulation, that covenant is deemed not to be given to that Excluded Lender but only to the extent of the breach and no Excluded Lender is entitled to the benefit of, nor may rely on, that covenant to that extent):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds**

The Obligors shall use the proceeds of (a) the Initial Senior Debt as specified in the Credit Facility Agreement and (b) any other Senior Debt in accordance with the Facility Agreement applicable thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Existence, Franchises, Etc.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Obligor shall maintain its legal existence as a limited liability company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;no Obligor shall take any action to amend or modify its Constitutional Documents in a manner that is in any material respect adverse to the interests of the Facility Lenders or such Obligor's ability to comply with the Finance Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;each Obligor shall promptly provide copies of any amendments to its Constitutional Documents to the Intercreditor Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;each Obligor shall maintain and renew all of the powers, licenses, rights, privileges and franchises necessary for the Development and in the normal conduct of its business as conducted or proposed to be conducted, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;no Obligor shall change, alter or modify its legal business name, jurisdiction of organization or type of organization, in each case without providing the Intercreditor Agent with at least 30 days' prior notice and without having satisfied its obligations under Section 12.31 (*Further Assurances*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;no Obligor shall cease to be for US federal income tax purposes the type of entity specified in Section 5.2(w) (*Tax Status*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.3&nbsp;&nbsp;&nbsp;&nbsp;Project Construction; Maintenance of Properties**

The Obligors shall construct and complete, operate and maintain the Project Facilities, and cause the Project Facilities to be constructed, operated and maintained, as applicable, consistent in all material respects with Prudent Industry Practice, the Material Project Agreements, the Construction Budget and Schedule, the Operating Manual, applicable Government Rules, and the other Transaction

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Documents, and in accordance with the requirements for maintaining the effectiveness of the material warranties of the Construction Contractors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.4&nbsp;&nbsp;&nbsp;&nbsp;Books and Records; Inspection Rights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall make available to the Intercreditor Agent, on request, copies or extracts of books and records of the Obligors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;when a Loan Facility Event of Default has occurred and is Continuing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;otherwise up to two times (which shall be reasonably spaced within the applicable period) per calendar year during normal business hours upon 30 days' advance notice,

subject to the confidentiality arrangements pursuant to Section 12.6 (*Confidentiality*) of the Common Security and Account Agreement and Section 23.7 (*Confidentiality*) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall not, without the prior consent of the Intercreditor Agent (not to be unreasonably withheld, conditioned or delayed), change the end date of their fiscal years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall keep proper books and records in accordance with GAAP in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.5&nbsp;&nbsp;&nbsp;&nbsp;Material Project Agreements**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Obligor shall maintain in effect all Material Project Agreements (other than Real Property Documents) that have been entered into and to which it is a party except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to the extent a Material Project Agreement is permitted to expire, be terminated or replaced under the Finance Documents or expires or is replaced in accordance with its terms; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;to the extent provided under Section 8.1 (*LNG SPA Maintenance*) and Section 8.2 (*LNG SPA Mandatory Prepayment*) in relation to Required LNG SPAs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Obligor shall comply with its contractual obligations, and, subject to Section 12.5(e) (*Material Project Agreements*) below, enforce against Material Project Counterparties its rights and their covenants and obligations, under the Material Project Agreements (other than Real Property Documents) then in effect to which it is a party, except, in each case, to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;No Obligor shall agree to any amendment or modification of, or waiver relating to, any Material Project Agreement (other than Real Property Documents) to which it is a party that could reasonably be expected to have a Material Adverse Effect or would materially breach the terms of the Finance Documents; *provided* that, amendments or modifications to LNG SPAs as permitted under Section 8.3 (*Amendment of LNG SPAs*) shall in any case be permitted; *provided further* that Change Orders as permitted under Section 9.1 (*Change Orders*) shall in any case be permitted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Other than with respect to Real Property Documents, no Obligor shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;assign or transfer any interest under any Material Project Agreement without the prior written consent of the Intercreditor Agent acting on the instructions of the Requisite Intercreditor Parties; except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;for assignments and transfers contemplated in connection with the Common Security and Account Agreement and other Security Documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;any assignment or transfer of any interest under any Material Project Agreement of (x) any assignment or transfer between the Borrower and any Guarantor, or (y) any assignment or transfer between the Guarantors; *provided* that, (1) the assignee Obligor has certified to the Intercreditor Agent that all Permits necessary for the execution, delivery and performance of the assigned Material Project Agreement in light of the current stage of construction and Development have been duly obtained, were validly issued and are in full force and effect and that the assignee Obligor is able to perform all obligations of the assignor Obligor under the Material Project Agreement in compliance with the requirements of such Material Project Agreement and applicable law, (2) the assignor and assignee Obligors have certified to the Intercreditor Agent that no default or event of default will arise from the assignment of such Material Project Agreement under the assigned Material Project Agreement and (3) the assignor Obligor shall, following such assignment, use commercially reasonable efforts to assign to the assignee Obligor all of performance security under such Material Project Agreement issued in favor of the assignor Obligor at the time of such assignment;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;consent to any counterparty assigning or transferring any interest under any Material Project Agreement, if such Obligor has consent rights under such Material Project Agreement, without the prior written consent of the Intercreditor Agent acting on the instructions of the Requisite Intercreditor Parties (not to be unreasonably withheld, conditioned or delayed); except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;if such assignment or transfer could not reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;for assignments and transfers permitted or contemplated in the Common Security and Account Agreement, Direct Agreements or other Security Documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;for assignments and transfers of any interest under any Material Project Agreement of credit support provided by one or more Affiliates of the Borrower and the Guarantors to the extent permitted by such Material Project Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;permit any Material Project Counterparty to substitute, materially diminish or otherwise replace any performance security, letter of credit or guarantee supporting such Material Project Counterparty's obligations thereunder (including, for the avoidance of doubt, any replacement of any Phase 1 Parent Guarantee), except (A) to the extent that such Material Project Counterparty is permitted to do so without the consent of the Borrower or any Guarantor, as applicable, under the terms of such Material Project Agreement or (B) if such substitution or replacement is beneficial or not less favorable for the Obligors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;No Obligor shall initiate or settle arbitration or disputes if such settlement could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The applicable Obligor promptly shall provide the Intercreditor Agent with copies or ensure that copies are provided (with any commercially sensitive material redacted) of any material amendments to, or material waivers relating to, the Material Project Agreements that are permitted under the Finance Documents or that have otherwise been entered into with the consent of the Intercreditor Agent acting on the instructions of the Requisite Intercreditor Parties (not to be unreasonably withheld, conditioned or delayed).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall not enter into any new Material Project Agreement or any Subsequent Material Project Agreements (other than Real Property Documents) without the prior written consent of the Intercreditor Agent

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acting on the instructions of the Requisite Intercreditor Parties (not to be unreasonably withheld, conditioned or delayed); *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Obligors may enter into a Replacement Material Contract without the prior written consent of the Intercreditor Agent or any Facility Lender, if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a termination of any Material Project Agreement (other than an LNG SPA), the Obligors (A) shall have entered into a Replacement Material Contract within 60 days (as such period may be extended an additional 30 days provided the Obligors are proceeding with diligence to replace such terminated Material Project Agreement) after such termination and (B) shall have caused such Replacement Material Contract to become subject to the Liens granted under the Security Documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;in the case of any termination of a Required LNG SPA, the Borrower (A) shall have entered into a Replacement Material Contract within 180 days (as such period may be extended an additional 90 days provided the Obligors are proceeding with diligence to replace such terminated Material Project Agreement) after the date of such termination and (B) shall have caused such Replacement Material Contract to become subject to the Liens granted under the Security Documents to the same extent as the Required LNG SPA that was terminated, and in each case, the termination of such Required LNG SPA could not reasonably be expected to result in a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;except for gas supply contracts that constitute Material Project Agreements, the Obligors may enter into new gas supply contracts (copies of which shall be delivered to the Intercreditor Agent) without the prior written consent of the Intercreditor Agent in accordance with Section 12.27 (*Gas Supply Arrangements*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower may enter into new LNG SPAs in accordance with Section 12.5(k) (*Material Project Agreements*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower may enter into the BHES LTSA on terms (A) substantially similar to the form or (B) not materially less favorable, in the aggregate, than the form of, in each case, that certain Long-Term Service Agreement, dated as of December 12, 2024 (as amended, amended and restated, supplemented or

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otherwise modified from time to time), by and between BHES and Venture Global Plaquemines LNG, LLC without the prior written consent of the Intercreditor Agent or any Facility Lender; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower may enter into the UOP TASA on terms (A) substantially similar to the form or (B) not materially less favorable, in the aggregate, than the form of, in each case, that certain Technical Advisor Services Agreement, dated as of April 6, 2022,between UOP and Venture Global Plaquemines LNG, LLC without the prior written consent of the Intercreditor Agent or any Facility Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;In connection with any new Material Project Agreement and any Subsequent Material Project Agreement (other than Real Property Documents), the applicable Obligor shall deliver to the Intercreditor Agent, within 30 days following execution of such new Material Project Agreement or any Subsequent Material Project Agreement (with a form of such document to be delivered prior to execution of such new Material Project Agreement or any Subsequent Material Project Agreement):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;each Security Document, if any, necessary to grant the Collateral Agent a first priority perfected Lien in such new Material Project Agreement or such Subsequent Material Project Agreement (subject only to Permitted Liens);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;evidence of the authorization of the applicable Obligor to execute, deliver and perform such new Material Project Agreement or such Subsequent Material Project Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate of the Borrower certifying that all Permits necessary for the execution, delivery and performance of such new Material Project Agreement or such Subsequent Material Project Agreement have been duly obtained, were validly issued and are in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;an opinion of counsel to the applicable Obligor and, if a Direct Agreement is required to be obtained from such counterparty pursuant to Section 3.4 (*Direct Agreements*) of the Common Security and Account Agreement applying the effort standard set forth in Section 3.4 (*Direct Agreements*) of the Common Security and Account Agreement to obtaining such opinion as is applicable to obtaining the related Direct Agreement, an opinion of counsel to the counterparty to such new Material Project Agreement or such Subsequent Material Project Agreement; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;a Direct Agreement in respect of such new Material Project Agreement or such Subsequent Material Project Agreement, but only to the extent such Direct Agreement is required pursuant to Section 3.4 (*Direct Agreements*) of the Common Security and Account Agreement for an equivalent Material Project Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Each Obligor shall maintain, preserve and protect, or make contractual or other provisions to cause to be maintained, preserved and protected, all of the real property interests evidenced by the Real Property Documents except (x) to the extent such Real Property Document is permitted to expire, be terminated or replaced under the Finance Documents or expires or terminates pursuant to its terms and is replaced with substantially equivalent real property interests to the extent necessary for the Development at such time or (y) where failure to do so could not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;The prior written consent of the Intercreditor Agent (acting on the instruction of the Requisite Intercreditor Parties (not to be unreasonably withheld, conditioned or delayed)) shall be required in connection with the execution by an Obligor of a document evidencing a real property interest if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;such real property interest replaces (or is substituted for) a real property interest in a then-existing Real Property Document and such replaced real property interest is necessary at such time for the Development; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if such real property interest does not replace (or is not substituted for) a real property interest in a then-existing Real Property Document, such real property interest:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;is, at such time, necessary for the Development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;is required to be included in a mortgage pursuant to requirements of Section 3.2(e)(ii) (*Security Interests to be Granted by the Obligors – Real Property*) of the Common Security and Account Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;is evidenced by a Real Property Document which by its terms imposes upon an Obligor obligations or liabilities with an aggregate value in excess of $100 million over its term and is for a term of greater than seven years;

*provided* that, in the case of each of clauses (i) and (ii) above, that no such consent shall be required if the applicable real property interest is being acquired in order to comply with (x) the

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requirements of any Permit or applicable Government Rules, (y) obligations of any Obligor pursuant to a Material Project Agreement or (z) Prudent Industry Practice pertaining to safety or security measures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall not enter into any LNG SPA or any shipping arrangements relating to LNG SPAs on a DPU or delivery ex-ship/delivered-at-terminal basis, in each case, except as permitted by Section 8.1(a) (*LNG SPA Maintenance*), Section 8.4 (*Sale of Supplemental Quantity*), Section 8.5 (*Sale of Pre-Completion Quantities*), and Section 12.5(g)(i)(B) (*Material Project Agreements*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall not permit delivered basis LNG SPAs (excluding any LNG SPAs related to the sale of Pre-Completion Quantities), in the aggregate, to exceed (A) with respect to the Phase 1 LNG Facility, 6.0 MTPA, or (B) with respect to the Phase 1 LNG Facility and Phase 2 LNG Facility in the aggregate, 9.0 MTPA (the "*Delivered Basis Capacity Limitation*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in this Agreement, the Borrower shall be permitted to enter into (i) new agreements that are not Material Project Agreements (including agreements relating (A) to the Project Phase 2 Development prior to the Project Phase 2 FID Conditions Satisfaction Date (so long as (x) such agreements are for Permitted Development Expenditures, (y) the Obligors do not have any material obligations under such agreements until Phase 2 FID or (z) any material obligations thereunder can be suspended without material financial cost by the Obligors, in their sole discretion, under the terms of such contracts or agreements), and (B) to any Permitted Internal Expansion prior to the Permitted Internal Expansion FID Conditions Satisfaction Date relating thereto (so long as (x) such agreements are for Permitted Development Expenditures, (y) the Obligors do not have any material obligations under such agreements until the date the Borrower has (acting in its sole discretion) made a positive financial investment decision for such Permitted Internal Expansion or (z) any material obligations thereunder can be suspended without material financial cost by the Obligors, in its sole discretion, under the terms of such contracts or agreements) and (ii) Material Project Agreements relating to Permitted Development Expenditures subject, in each case, to the terms and conditions relating thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.6&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Law**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall comply in all material respects with all material applicable Government Rules (excluding tax laws as to which Section

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.13 (*Taxes*) is applicable and Environmental Laws as to which Section 12.7 (*Environmental Compliance*) is applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;No Obligor shall Knowingly engage in any activity that violates any Anti-Terrorism and Money Laundering Law or OFAC Law to the extent applicable to such entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors will not, and will require that their respective Affiliates, directors and officers shall not, directly or, to the Obligors' Knowledge, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;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-Terrorism and Money Laundering Laws, Applicable Anti-Corruption Laws or Sanctions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;to fund any activities or business of or with any Sanctioned Person, or in any country, territory, or region, that, at the time of such funding, is, or whose government is, the target of Sanctions administered OFAC or by the US Department of State, the European Union or His Majesty's Treasury, (as of the date of this Agreement, Cuba, Iran, North Korea, Syria, the Crimea region of Ukraine, the so-called Donetsk People's Republic and the so-called Luhansk People's Republic); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;in any other manner that would result in a violation of any Anti-Terrorism and Money Laundering Laws, Applicable Anti-Corruption Laws or Sanctions administered by the United States, including by OFAC or by the US Department of State, the European Union, any EU Member State or His Majesty's Treasury of the United Kingdom, by any Person (including any Person participating in the Loans, whether as Facility Lender, Intercreditor Agent, or otherwise).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees that if it becomes aware of or receives any notice that an Obligor, any Affiliate or any Person holding a legal or beneficial interest therein (whether directly or indirectly) is a Sanctioned Person (a "*Sanctions Violation*"), the Borrower shall promptly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;give notice to the Intercreditor Agent of such Sanctions Violation; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;comply with all applicable laws governing such Sanctions with respect to such Sanctions Violation (regardless of whether the Sanctioned Person is located within the jurisdiction of the United States).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower authorizes and consents to the Intercreditor Agent and each Senior Creditor Group Representative taking any and all steps such parties deem necessary to comply with all applicable laws governing such Sanctions with respect to any such Sanctions Violation, including the "freezing" or "blocking" of assets and reporting such action to the applicable regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.7&nbsp;&nbsp;&nbsp;&nbsp;Environmental Compliance**

The Obligors shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;comply in all material respects with applicable Environmental Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;provide to the Intercreditor Agent (with a copy to each Facility Agent) (i) as promptly as practicable following the Closing Date, the initial version(s) of an "Environmental and Social Management Plan" and (if applicable) "Equator Principles Action Plan" with respect to the Borrower's material compliance with Equator Principles to the extent applicable to the Borrower, in each case, developed with the reasonable cooperation of the Independent Engineer, and thereafter (but no more frequently than semi-annually), any updates thereto, and (ii) on an annual basis for each fiscal year following the Closing Date, a certification that the Borrower is in compliance in all material respects with any requirements of the Environmental and Social Management Plan and Equator Principles (including reporting requirements with respect to greenhouse gas emissions);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;not Release, and use commercially reasonable efforts not to permit the Release by its Construction Contractors or agents of, any Hazardous Materials at, on, under or from the Project Facilities or any Real Estate on which any Project Facilities are situated in quantities or concentrations that could reasonably be expected to result in a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;following the receipt of any material Environmental Claim or notice of any material noncompliance with any Environmental Law, prepare a report detailing the facts underlying the claim or noncompliance and an action plan for responding to the claim or the noncompliance consistent with Prudent Industry Practice and provide such report and plan to the Independent Engineer and the Intercreditor Agent.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.8&nbsp;&nbsp;&nbsp;&nbsp;Permits**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall obtain by the time they are required, maintain in full force and effect, and comply in all material respects with all applicable material Permits set forth on Schedule F (*Material Permits*) (excluding Export Authorizations, as to which Section 12.9 (*Export Authorizations*) is applicable, and the FERC Order, as to which Section 12.10 (*FERC Order*) is applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall not amend or modify a material Permit set forth on Schedule F (*Material Permits*) or any conditions thereof (excluding Export Authorizations, as to which Section 12.9 (*Export Authorizations*) is applicable, and the FERC Order, as to which Section 12.10 (*FERC Order*) is applicable); *provided* that, the Obligors may amend or modify such Permits and any conditions thereof so long as such amendment or modification could not reasonably be expected to have a Material Adverse Effect or result in an Impairment of such Permit and such amendment or modification is not materially more restrictive or onerous on the applicable Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.9&nbsp;&nbsp;&nbsp;&nbsp;Export Authorizations**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall use all reasonable efforts to maintain in full force and effect and will comply in all material respects with both the FTA Authorization and the Non-FTA Authorization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If an Export Authorization is Impaired, the Obligors shall use all reasonable efforts to promptly and diligently take reasonable steps to reverse such Impairment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.10&nbsp;&nbsp;&nbsp;&nbsp;FERC Order**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;From and after the Closing Date, the Obligors shall maintain in full force and effect and comply in all material respects with the FERC Order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall not propose to amend or modify the FERC Order or any conditions of the FERC Order; *provided* that, the Obligors may propose to amend or modify the FERC Order and any conditions thereof so long as such amendment or modification could not reasonably be expected to have a Material Adverse Effect and such amendment or modification is not materially more restrictive or onerous on the applicable Obligor.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.11&nbsp;&nbsp;&nbsp;&nbsp;Witnessing Performance Tests and Lenders' Reliability Tests; Settlement of Liquidated Damages**

The Intercreditor Agent, each Senior Creditor Group Representative and the Independent Engineer shall have the right to witness and verify each Performance Test and the Lenders' Reliability Test, and no Obligor shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;permit a Performance Test under the Phase 1 EPC Contract or any Phase 1 Procurement, Supply and Construction Contracts described in clauses (a) through (d) of the definition thereof or Lenders' Reliability Test to be performed without giving the Intercreditor Agent at least three Business Days' prior notice thereof (or such shorter period agreed by the Independent Engineer); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;agree in a dispute with any Construction Contractor with respect to the amount of any Performance Liquidated Damages or Delay Liquidated Damages, or to a settlement with respect to such damages, in excess of $30 million without prior approval of the Intercreditor Agent, acting reasonably and in consultation with the Independent Engineer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.12&nbsp;&nbsp;&nbsp;&nbsp;Inspection Rights**

The Obligors shall grant access to the Site to the Consultants and designated representatives of Facility Lenders at the times and in the manner described in Section 13.3 (*Access*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.13&nbsp;&nbsp;&nbsp;&nbsp;Taxes**

Each Obligor shall pay or cause to be paid all material Taxes (if any) imposed on or in respect of such Obligor or its property by any Governmental Authority, when due, giving effect to any applicable extensions, unless these are being contested in good faith and by appropriate proceedings and an appropriate reserve has been established in respect thereof in accordance with GAAP. Each Obligor shall notify the Intercreditor Agent of any material dispute with the relevant tax authorities. Each Obligor will promptly pay or cause to be paid any valid, final judgment rendered upon the conclusion of the relevant proceeding, if any, enforcing such Tax and cause it to be satisfied of record.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.14&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Indebtedness**

The Obligors shall not incur Indebtedness other than the following (with any baskets measured in the aggregate among all the Obligors):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Senior Debt, including any reborrowing of any Working Capital Debt in accordance with its terms;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Replacement Debt or other Indebtedness expressly contemplated by a Material Project Agreement (including guarantees permitted by Section 12.15 (*Guarantees*));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;subject to satisfaction of the conditions set forth in Section 6.4 (*Project Phase 2 Development Debt*), Project Phase 2 Development Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;subject to satisfaction of the conditions set forth in Section 6.5 (*Permitted Internal Expansion Debt*), Permitted Internal Expansion Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Permitted Additional Working Capital Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Debt in an amount not to exceed $675 million in the aggregate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;intercompany Indebtedness between or among the Obligors, all of which shall be Subordinated Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred under Permitted Hedging Instruments not covered under clause (a) above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;subject to satisfaction of the applicable conditions set forth in Section 6.6 (*Supplemental Debt*), Permitted Relevering Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;subject to satisfaction of the applicable conditions set forth in Section 6.6 (*Supplemental Debt*), Permitted Completion Senior Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;subject to satisfaction of the applicable conditions set forth in Section 6.6 (*Supplemental Debt*), PDE Senior Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness in respect of any bankers' acceptances, letters of credit, warehouse receipts or similar facilities, in each case, incurred in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;purchase money Indebtedness and capital leases or guarantees of the same, in a principal amount not exceeding $100 million in the aggregate to finance the purchase or lease of assets for the Development other than those financed with the proceeds of Senior Debt; *provided* that, if such obligations are secured, they are secured only by Liens upon the assets being financed or the proceeds of such assets; 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;any other unsecured Indebtedness incurred after the Project Phase 1 Completion Date in an aggregate amount outstanding at any one time not to exceed $200 million for general corporate purposes (including, for the avoidance of doubt, to reduce the principal amount relating to any revolving loans under a Senior Debt Instrument to $0 as and when required under the terms of such Senior Debt Instrument);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Indebtedness, indebtedness arising from honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course or other cash management services in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness in respect of netting services, overdraft protections and otherwise in connection with deposit accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;contingent liabilities incurred in the ordinary course of business, including the acquisition or sale of goods, services, supplies or merchandise in the normal course of business, the endorsement of negotiable instruments received in the normal course of business and indemnities provided under any of the Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Indebtedness, obligations in respect of performance bonds, bid bonds, appeal bonds, surety bonds, indemnification obligations, obligations to pay insurance premiums, take-or-pay obligations contained in supply agreements and similar obligations incurred in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;trade debt, trade accounts, purchase money obligations or other similar Indebtedness incurred in the ordinary course of business, which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;is not more than 90 days past due; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;is being contested in good faith and by appropriate proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness consisting of the financing of insurance premiums in customary amounts consistent with the operations and business of the Obligors in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;operating leases that are re-categorized as Capital Leases as a result of ASC 842;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;subject to satisfaction of the applicable conditions set forth in Section 6.6 (*Supplemental Debt*), Restoration Debt; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;other Indebtedness incurred with the consent of the Intercreditor Agent acting on the instructions of the Requisite Intercreditor Parties, together with any refinancing thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.15&nbsp;&nbsp;&nbsp;&nbsp;Guarantees**

No Obligor shall guarantee the obligations of others (other than the other Obligors) except for guarantees expressly contemplated by a Finance Document, a Material Project Agreement or a material Permit.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.16&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Liens**

The Obligors shall not assume, incur, permit or suffer to exist any Lien on any of its assets, whether now owned or hereafter acquired, except for Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.17&nbsp;&nbsp;&nbsp;&nbsp;Sale of Project Property**

No Obligor shall sell, lease or otherwise dispose of Project Property, in one transaction or a series of transactions, in excess of $100 million per year without the consent of the Intercreditor Agent and no Obligor shall sell, lease or otherwise dispose of the CP Express Pipeline, except in each case that no consent of the Intercreditor Agent shall be required for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;dispositions in compliance with any applicable court or governmental order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;dispositions of obsolete, superfluous or replaced assets, or assets that are not, or cease to be, necessary for the construction and operation of the Project Facilities substantially in the manner contemplated in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;sales or other dispositions of LNG in accordance with any LNG SPAs as permitted under the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;sales of Gas in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;sales, transfers or other dispositions of Authorized Investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments made in accordance with the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;liquefaction and other services in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;settlement, release, waiver or surrender of contract, tort or other claims in the ordinary course of business or a grant of a Lien not prohibited by the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the transfer or novation of Permitted Hedging Instruments in accordance with the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;conveyance of gas interconnection or metering facilities to gas transmission companies and conveyance of electricity substations to electricity providers pursuant to its electricity purchase arrangements for operating the Project Facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;dispositions of other Project Property if an Obligor replaces such Project Property within 270 days following such disposition or has obtained a

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commitment to replace such Project Property and replaces such Project Property within 270 days following such disposition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;dispositions of assets from the Borrower to either Guarantor, from either Guarantor to the Borrower, or from either Guarantor to the other Guarantor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;subject to Section 7.5 (*External Expansions*), a Permitted CFCo Contribution.

Proceeds of any such disposition by the Borrower pursuant to this Section 12.17 (*Sale of Project Property*) shall be deposited (x) with respect to the Phase 1 LNG Facility prior to the Project Phase 1 Completion Date and (y) with respect to the Phase 2 LNG Facility prior to the Project Phase 2 Completion Date, in each case, in the Pre-Completion Revenues Account and thereafter the Revenue Account, as applicable; *provided* that, proceeds of any disposition of assets requiring mandatory prepayment under Section 3.4 (*Mandatory Prepayments*) shall be deposited into the Additional Proceeds Prepayment Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.18&nbsp;&nbsp;&nbsp;&nbsp;Merger, Division, Liquidation and Sale of All Assets**

No Obligor shall liquidate itself, enter into any merger or division or sell or otherwise transfer all or substantially all its assets to any Person or any series of any Obligor (including by operation of law), except to any series of Obligor who agrees in writing to become an Obligor hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.19&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Investments and Loans**

No Obligor shall make any investments, loans or advances to any Person other than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Authorized Investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;by way of trade credit in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;as specifically contemplated under the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;as expressly contemplated by the terms of the Material Project Agreements then in effect to which it is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;surety and performance bonds and workers' compensation, utility, lease, tax, performance and similar deposits, advance payments in the ordinary course of business on usual commercial terms and prepaid expenses in the ordinary course of business, including cash deposits incurred in connection with natural gas purchases;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting an investment, loan or advance, activities in respect of the Project Phase 2 Development or any Permitted Internal Expansion permitted under Section 7.2 (*Expansion Contracts*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;investments pursuant to Permitted Hedging Instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;investments, loans or advances among and between the Obligors; *provided* that, amounts owing thereunder are Subordinated Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;loans from either the Borrower or any Guarantor to Pledgor, the Sponsor or their respective Affiliates (other than any Guarantor or Borrower), but only to the extent that such loans are made with cash available to the Borrower to make a Restricted Payment and after meeting the test to make Restricted Payments under Section 11.1 (*Conditions to Restricted Payments*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Investments by the Borrower in any Guarantor (either directly or through the Pledgor) and/or Investments by any Guarantor in the Borrower or any other Guarantor (either directly or through the Pledgor); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;subject to Section 7.5 (*External Expansions*), a Permitted CFCo Contribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.20&nbsp;&nbsp;&nbsp;&nbsp;Nature of Business**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall not (i) change the limited nature of their business in any material respect from that contemplated by the Common Terms Agreement and the Common Security and Account Agreement in the form existing on the Closing Date or (ii) engage in retail sales of natural gas in such a manner and to such an extent so as to cause either Obligor to become subject to regulation as a "gas utility" under the Louisiana Government Rules. In the event either Obligor engages in retail sales of natural gas in a manner that would cause it to become a "holding company" or a "subsidiary company" of a "holding company" (each as defined under PUHCA), it shall (A) comply in all material respects with all applicable provisions of PUHCA and (B) use commercially reasonable efforts to obtain an exemption from regulation under PUHCA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall not permit to exist any Subsidiary of the Borrower, except the Borrower may form a new subsidiary that is a CFCo in accordance with Section 7.5 (*External Expansions*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;No Guarantor shall permit to exist any Subsidiary of such Guarantor.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.21&nbsp;&nbsp;&nbsp;&nbsp;Transactions with Affiliates**

No Obligor shall directly or indirectly enter into any transaction or agreement with or for the benefit of an Affiliate (including guarantees and assumptions of obligations of an Affiliate) in relation to the Development in excess of $25,000,000, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;agreements that are Material Project Agreements or required or contemplated by any Material Project Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any other agreement relating to the Development entered into prior to the Closing Date that is disclosed on Schedule J (*Transactions With Affiliates*) hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;to the extent required by applicable law or regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;transactions or agreements entered into on fair and commercially reasonable terms (from the perspective of the relevant Obligor) that (i) could not reasonably be expected to cause a Material Adverse Effect and (ii) are not materially less favorable in the aggregate to such Obligor than such Obligor would obtain in a comparable agreement with independent parties acting at arm's length (or, if there is no comparable arm's-length transaction, then on terms reasonably determined by the member of the Borrower to be fair and reasonable);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Debt provided to any Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;any officer or director indemnification agreement or any similar arrangement entered into by an Obligor in the ordinary course of business and payments pursuant thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;investments permitted under clauses (h) through (j) of Section 12.19 (*Limitation on Investments and Loans*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;any sale by an Obligor to Affiliates of Supplemental Quantities or Excess Capacity Quantities of LNG, including pursuant to the Phase 1 Excess Capacity LNG SPA and any other LNG SPAs or replacements thereof in respect of all or any portion of the Excess Capacity Quantity;

*provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;this covenant shall not apply to (A) transactions between or among the Obligors, (B) any issuance of equity interests of any Obligor to its direct parent and (C) Permitted Payments; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any such agreement that constitutes a Subsequent Material Project Agreement shall be subject to the terms of Section 12.5 (*Material Project Agreements*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.22&nbsp;&nbsp;&nbsp;&nbsp;Hedging Arrangements**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;No Obligor shall enter into Hedging Instruments other than Permitted Hedging Instruments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall enter into and thereafter maintain in full force and effect, from time to time, one or more interest rate Permitted Hedging Instruments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;no later than 45 days following the Closing Date, with respect to no less than 50%, but no more than 105% (calculated on a weighted average basis) of the projected aggregate outstanding balance of the Senior Debt projected to be outstanding (as determined by the Borrower in accordance with the Base Case Forecast) until the latest payment date occurring at the expiration of the 20-year notional amortization period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;no later than 45 days following the Closing Date, with respect to no less than 75%, but no more than 105% (calculated on a weighted average basis) of the projected aggregate outstanding balance of the Senior Debt projected to be outstanding (as determined by the Borrower in accordance with the Base Case Forecast) until the Maturity Date;

*provided* that, for purposes of calculating such percentage in the foregoing sub-clauses (i) and (ii) above, (w) the principal balance of the Working Capital Facility and/or Working Capital Debt shall be excluded, (x) any obligations incurred under the Permitted Senior Debt Hedging Instruments shall be excluded, and (y) any such Senior Debt which bears a fixed interest rate shall be deemed subject to a Permitted Hedging Instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If, due to a mandatory prepayment made in accordance with Section 3.4 (*Mandatory Prepayments*), a voluntary prepayment made in accordance with Section 3.5 (*Voluntary Prepayments*) or otherwise, the aggregate notional amount of the Permitted Hedging Instruments (which, for the avoidance of doubt, shall only include Permitted Hedging Instruments that are Interest Rate Hedging Instruments) on any Quarterly Payment Date is greater than 105% (or, if 105% hedging is not permitted by applicable law, 100%) (in each case, calculated on a weighted average basis) of the projected aggregate outstanding balance of the Senior Debt, within 45 days, the Borrower shall reduce the amount that is hedged under the Permitted Hedging Instruments (in the proportion allocated to each

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Permitted Hedging Instrument as may be determined by the Borrower as long as the Borrower has used commercially reasonable efforts to allocate the reduction *pro rata* among each Permitted Hedging Instrument, after taking into account any back-to-back or offsetting arrangements related thereto) such that the aggregate notional amount of the Permitted Hedging Instruments is not more than 105% (or, if 105% hedging is not permitted by applicable law, 100%) (in each case, calculated on a weighted average basis) of the projected aggregate outstanding balance of the Senior Debt on such Quarterly Payment Date (any such amount of the Permitted Hedging Instruments that is required to be so reduced, a "*Hedging Excess Amount*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.23&nbsp;&nbsp;&nbsp;&nbsp;Accounts**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;No Obligor shall maintain any accounts in contravention of Article 4 (*Cash Flow and Accounts*) of the Common Security and Account Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) All revenues of the Obligors shall be deposited in accordance with the Common Security and Account Agreement and (ii) the Obligors shall direct third parties to deposit all amounts required to be paid to the Obligors in accordance with the Common Security and Account Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.24&nbsp;&nbsp;&nbsp;&nbsp;Separateness**

Each Obligor shall at all times:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;observe all applicable entity procedures necessary to maintain its separate existence and formalities, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;maintaining minutes or records of meetings of the members and/or managers of the Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;acting on behalf of itself only pursuant to due authorization of the members and/or managers, including, when applicable, any independent managers or members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;conducting its own business in its own name and through authorized agents pursuant to its Constitutional Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;allocate fairly and reasonably any shared expenses, including overhead for shared office space or common employees (if any);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;use separate stationery, invoices and checks bearing its own name;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;prepare and maintain its own full and complete books, accounting records (including books of account and payroll, if any) and other documents and records, in each case which are separate and apart from the books, accounting records and other documents and records of the Sponsor or any Affiliate thereof (other than any other Obligor);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;maintain separate bank accounts in its own name or otherwise pursuant to the Finance Documents and make all investments by or on behalf of an Obligor solely in its name except as otherwise provided by the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;separate its property and not allow funds or other assets to be commingled with the funds and other assets of, held by, or registered in the name of the Sponsor or any Affiliate thereof (other than any other Obligor), and maintain its assets in such a manner that it is not costly or difficult to identify or ascertain such assets, all except to the extent otherwise provided by the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;not hold itself out as being liable for the debts of the Sponsor or any Affiliate thereof (other than any other Obligor) and not guarantee the debts of the Sponsor or any Affiliate thereof (other than any other Obligor) except as permitted by the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;not acquire or assume obligations or securities of, or make loans or advances to, any of its Affiliates except as required under the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;maintain separate financial statements, showing its assets and liabilities separate and apart from those of any other Person, and not have its assets listed on the balance sheet of any other Person; *provided* that, such Obligor may also report its financial statements on a consolidated or combined basis with one or more of its Affiliates in accordance with GAAP so long as appropriate notation is made on such consolidated financial statements to indicate the separateness of the Obligors from such Affiliate(s) and to disclose the separate nature of the Obligors' Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;prepare and file its own tax returns separate from those of any Person except to the extent that the Obligor is treated as a "disregarded entity" for tax purposes and is not required to file tax returns under applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;pay its own liabilities and expenses out of its own assets (except as provided under the Finance Documents);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;maintain adequate capitalization in light of its contemplated business and obligations;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;hold itself out to third parties as a legal entity, separate and distinct and independent from any other entity, conduct its own business solely under its name and correct any known misunderstanding as to the separateness of the Obligors from any other Person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;have and maintain Constitutional Documents which comply with the requirements of this Section 12.24 (*Separateness*),

*provided* that, no limitation in this Section 12.24 (*Separateness*) shall apply to the Obligors as among one another.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.25&nbsp;&nbsp;&nbsp;&nbsp;Historical DSCR**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors shall not permit the Historical DSCR for the most recent 12-month period ending as of the end of any fiscal quarter from and following the First Repayment Date to be less than 1.10:1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in clause (a) above to the contrary, if the Historical DSCR for the most recent 12-month period ending at the end of any fiscal quarter following the First Repayment Date is less than 1.10:1 but greater than 1:1, any direct or indirect owner of the Obligors shall have the right to provide cash to the Obligors not later than twenty (20) Business Days following the delivery of the calculation of such Historical DSCR in the form of equity contributions or Subordinated Debt in order to increase the Historical DSCR to 1.10:1; *provided* that, such right may not be exercised for more than two consecutive fiscal quarters nor, with respect to each Senior Debt Instrument, more than four times over the term of such Senior Debt Instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.26&nbsp;&nbsp;&nbsp;&nbsp;Auditors**

The Borrower shall engage Ernst & Young LLP and shall not replace such auditor except with another independent certified public accounting firm of recognized national standing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.27&nbsp;&nbsp;&nbsp;&nbsp;Gas Supply Arrangements**

The Obligors shall secure and maintain sufficient gas supply arrangements consistent with Prudent Industry Practice on Market Terms (which arrangements may be under contracts of varying tenors, including under North American Energy Standards Board enabling or master gas supply agreements, may be replaced and renewed from time to time, and may be with multiple gas suppliers selected by the Borrower) in order for the Obligors to meet, as and when required, the feed gas and fuel requirements of the facilities that enable the Obligors to produce the quantities of LNG contracted to be delivered under the Required LNG SPAs.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.28&nbsp;&nbsp;&nbsp;&nbsp;Insurance Covenant**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;To the extent available to the Obligors on Reasonable Commercial Terms and taking into account requirements of applicable law and regulation, the Obligors shall obtain and maintain, or cause to be obtained and maintained, at all times, the commercial insurance coverage set forth in Schedule L (*Schedule of Minimum Insurance*) hereto describing the minimum insurance required to be held by the Obligors (the "*Schedule of Minimum Insurance*"). "*Reasonable Commercial Terms*" means commercial insurance market terms which are reasonable having regard to the nature of the risk insured, the cost of maintaining insurance against that risk and the interests of the Obligors and the Secured Parties under the Finance Documents. Without prejudice to any other element, the cost of maintaining insurance alone is not a determinant of Reasonable Commercial Terms. Disputes as to whether the relevant insurance is available on Reasonable Commercial Terms, is in accordance with applicable laws or regulations or complies with the Schedule of Minimum Insurance shall be referred to an independent insurance expert from the agreed list of independent insurance experts attached as Schedule M (*Independent Insurance Experts*) hereto, as such list may be updated from time to time by mutual agreement by the Borrower and the Intercreditor Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;With respect to all Mortgaged Property located in a special flood hazard area (as defined pursuant to applicable flood insurance regulations), the Borrower will obtain and maintain at all times flood insurance for all Collateral located on such property as may be required under the Flood Program and will provide to each Facility Lender evidence of compliance with such requirements as may be reasonably requested by such Lender. The timing and process for delivery of such evidence will be as set forth in the Schedule of Minimum Insurance. If any Building (as defined in the applicable flood insurance regulations) or Manufactured (Mobile) Home (as defined in the applicable flood insurance regulations) constitutes property that is secured for the benefit of the Senior Creditors pursuant to a mortgage required under the Finance Documents, the Borrower shall maintain in full force and effect flood insurance for such property, structures and contents in such amount and for so long as required by applicable flood insurance regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower will provide 45 days prior written notice to the Intercreditor Agent and each Facility Agent before it commences construction of any Building (as defined in the applicable flood insurance regulations) after the Closing Date and before it affixes any Manufactured (Mobile) Home (as defined in the applicable flood insurance regulations) after the Closing Date to any property that is secured for the benefit of the Senior Creditors

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pursuant to a mortgage required under the Finance Documents and that is located in a special flood hazard area (as defined pursuant to applicable flood insurance regulations). The preceding sentence will not affect the obligations of the Borrower under Section 12.28(b) (*Insurance Covenant*) above to maintain flood insurance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower will provide 45 days prior written notice to the Intercreditor Agent before it acquires any Real Estate that is permitted under the Finance Documents and that will be secured for the benefit of the Senior Creditors pursuant to a deed of trust required under the Finance Documents. The preceding sentence will not affect the obligations of the Borrower under Section 12.28(b) (*Insurance Covenant*) above to maintain flood insurance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.29&nbsp;&nbsp;&nbsp;&nbsp;Certain Real Property Rights; Real Property Documents; Leases**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Obligor shall obtain appropriate releases, consents, crossing agreements or other like acknowledgements from the holders of the rights set forth on Schedule V (*Schedule of Certain Real Property Rights*) to the extent necessary for the Development.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Obligor shall comply with its contractual obligations under each Real Property Document then in effect to which it is a party, and, subject to Section 12.5(e) (*Material Project Agreements*), enforce against all other Persons that are parties thereto such Obligor's rights and covenants and obligations under such Real Property Document except, in each case, to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;No Obligor shall agree to any amendment or modification of, or waiver relating to, any Real Property Document to which it is a party that could reasonably be expected to have a Material Adverse Effect or that would materially breach the terms of the Finance Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.30&nbsp;&nbsp;&nbsp;&nbsp;Margin Regulation**

No Obligor shall use any portion of the proceeds of the Loans to purchase or carry any Margin Stock or to extend credit to others for the purpose of purchasing or carrying any Margin Stock. No Obligor shall use the proceeds of the Loans in a manner that could reasonably be expected to violate or be inconsistent with the provisions of Regulation T, Regulation U or Regulation X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.31&nbsp;&nbsp;&nbsp;&nbsp;Further Assurances**

Each of the Obligors shall take all action reasonably required to preserve the validity, perfection and priority of the Liens purported to be granted to the

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Collateral Agent for the benefit of the Secured Parties pursuant to the Security Documents (subject to Permitted Liens). The Borrower shall promptly perform or cause to be performed any and all acts and execute or cause to be executed any and all documents (including UCC financing statements and UCC continuation statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;as are reasonably requested by the Collateral Agent for filing under the provisions of the UCC or any other Government Rule that are necessary or reasonably advisable to maintain in favor of the Collateral Agent, for the benefit of the Secured Parties, Liens on the Collateral that are duly perfected in accordance with all applicable Government Rules for the purposes of perfecting the first priority Lien (subject to Permitted Liens) created, or purported to be created, in favor of the Collateral Agent or the Secured Parties under this Agreement or any other Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;as are reasonably requested by the Collateral Agent for the purposes of ensuring the validity, enforceability and legality of this Agreement or any other Finance Document and the rights of the Secured Parties and the Collateral Agent hereunder or thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;as are reasonably requested by the Collateral Agent for the purposes of enabling or facilitating the proper exercise of the rights and powers granted to the Secured Parties and the Collateral Agent under this Agreement or any other Finance Document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;as are reasonably requested by the Collateral Agent to carry out the intent of, and transactions contemplated by, this Agreement and the other Finance Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.32&nbsp;&nbsp;&nbsp;&nbsp;As-Built Survey**

Within 120 days after the Project Phase 1 Completion Date, Borrower shall deliver to the Intercreditor Agent an as-built survey of the LNG Facility Site and the Phase 1 LNG Facility located on it in accordance with and meeting all requirements and information required for the "Survey" referred to in Section 4.1(j)(i) (*Conditions to Closing Date and Initial Advance – Real Property*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.33&nbsp;&nbsp;&nbsp;&nbsp;ERISA**

The Obligors shall not establish, maintain, contribute to or become obligated to contribute to any Pension Plan or Multiemployer Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.34&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing Real Estate Covenant**

Promptly following the Closing Date, the Borrower shall use commercially reasonable efforts to (a) cause the Lake Charles Harbor and Terminal District to

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release and relinquish all of its rights under the Deed (Right of Way) by Ell Ray Henry, Lee Roy Henry, Peter Cameron Henry, and Hutch Philips Henry to the United States of America dated October 1, 1963 and recorded November 15, 1963 as Conveyance Book 191, Page 675, File No. 99731, in the official records of Cameron Parish, Louisiana as affected by that certain Quitclaim Deed by the United States of America to Lake Charles Harbor and Terminal District dated June 29, 2015 and recorded August 19, 2015 as File No. 336528 in the official records of Cameron Parish, Louisiana (collectively, the "Dumping Servitude") and (b) take all such other actions necessary to cause the Title Company to issue an endorsement to the Title Policy removing all title exceptions relating to the Dumping Servitude from the Title Policy, including without limitation the exceptions listed in Schedule B, Part I of the Title Policy as Exceptions P-18 and P-18a.

**13.&nbsp;&nbsp;&nbsp;&nbsp;CONSULTANTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.1&nbsp;&nbsp;&nbsp;&nbsp;Appointment of Consultants**

The common CCRA Consultant, the common Independent Engineer, the common Insurance Advisor, the common Environmental Consultants and the common Market Consultant (the "*Consultants*"), as of the date hereof, are listed in Schedule N (*Senior Creditors' Advisors and Consultants*) hereto. Each such Consultant shall be deemed to be retained by, and shall be solely responsible to and for the benefit of, the Facility Lenders. The Consultants may also act for the benefit of, and deliver reports to, the Indenture Trustee, Senior Noteholders, the Intercreditor Agent and/or the initial purchasers of the Senior Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2&nbsp;&nbsp;&nbsp;&nbsp;Replacement and Fees**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In accordance with the terms of each such Consultant's engagement letter, the Borrower (with the consent of the Intercreditor Agent acting on the instructions of the Requisite Intercreditor Parties, such consent not to be unreasonably withheld, conditioned or delayed) or the Intercreditor Agent acting on the instructions of the Requisite Intercreditor Parties and, subject to clause (b) below, following good faith consultation with the Borrower, may remove from time to time any one or more of such Consultants, and the Borrower shall engage such replacements as the Intercreditor Agent, acting on the instructions of the Requisite Intercreditor Parties, may choose (with the prior consent of the Borrower, such consent not to be unreasonably withheld, conditioned or delayed). Such replacement is subject to confirmation at the time of its appointment of no conflict of interest that would prevent a replacement Consultant from acting for the Facility Lenders. The replacement of any Consultant shall not increase the annual limits referred to in clause (c) below.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding clause (a) above, in the event that a Loan Facility Event of Default or Unmatured Loan Facility Event of Default has occurred and is Continuing that is reasonably connected to a matter on which a Consultant may be requested by the Senior Creditors or their representatives to advise, for the duration of such default, the Borrower's consent rights under such clause (a) above shall cease and the Intercreditor Agent, acting reasonably on the instructions of the Requisite Intercreditor Parties, shall have the right to remove any Consultant and appoint a replacement Consultant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;All fees and expenses of the Consultants (whether the original ones or replacements) shall, subject in each case to the applicable Consultant's engagement letter, be paid by the Borrower. Any reasonable fees incurred by any Consultant to provide services required under the Finance Documents but not otherwise within the scope of work under the applicable engagement letter shall be paid by the Borrower subject to certain annual limits, if any, to be specified in such engagement letter (except that such annual limits shall not apply in relation to any work (i) investigating a Loan Facility Event of Default or Unmatured Loan Facility Event of Default, or (ii) in respect of any waiver request by the Borrower, both of which instead shall be subject to reasonable work plans, budgets and compensation limits to be agreed by such Consultant in consultation with the Intercreditor Agent and advised to the Borrower). Except in such cases, the consent of the Borrower (such consent not to be unreasonably withheld, conditioned or delayed) shall be required for a Consultant to perform additional work not otherwise contemplated by the terms of the relevant engagement letter or that would otherwise cause the reasonable fees and expenses of such Consultant to exceed the annual limits set forth in the relevant engagement letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3&nbsp;&nbsp;&nbsp;&nbsp;Access**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;After the Closing Date, Site visits to the Project Facilities may be conducted in accordance with clause (b) below upon reasonable prior request by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Independent Engineer and, if requested, the Facility Agent (or one alternative representative) for each Senior Creditor Group comprised of Facility Lenders, any such visits to be coordinated between the Independent Engineer and the applicable Facility Agents up to two (2) times (which shall be reasonably spaced within the applicable period) per calendar year, except to the extent additional visits are made in connection with the occurrence of a Loan Facility Event of Default or an Unmatured Loan Facility Event of Default; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any Consultant to the extent reasonably required for such Consultant to provide any report, certificate or confirmation explicitly contemplated by the terms of the Finance Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Site visits shall be granted during normal business hours, in a manner that does not unreasonably disrupt the construction or operation of the Project Facilities in any respect, and subject to the confidentiality provision of Section 12.6 (*Confidentiality*) of the Common Security and Account Agreement and Section 23.7 (*Confidentiality*) below and safety arrangements and shall be at the cost and expense of the Obligors.

**14.&nbsp;&nbsp;&nbsp;&nbsp;CONDITIONS TO PROJECT PHASE 1 COMPLETION; PROJECT PHASE 1 COMPLETION DATE WATERFALL**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.1&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Occurrence of the Project Phase 1 Completion Date**

The occurrence of the Project Phase 1 Completion Date is subject to the satisfaction of each of the following, and no other, common conditions (or waiver thereof by the Intercreditor Agent (acting on the instruction of the Requisite Intercreditor Parties)):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Notice of Project Completion*

Receipt by the Intercreditor Agent of a duly executed and completed notice of project completion from the Borrower certifying that the conditions in this Section 14.1 (*Conditions to Occurrence of the Project Phase 1 Completion Date*) have been met.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Borrower Certificate*

Receipt by the Intercreditor Agent of a certificate of the Borrower certifying that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;each of the Repeated Representations of the Obligors is true and correct in all material respects, except for representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects, on and as of the Project Phase 1 Completion Date as if made on and as of such date (or, if stated to have been made solely as of an earlier date, as of such earlier date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;no Unmatured Loan Facility Event of Default or Loan Facility Event of Default has occurred and is Continuing on such date or is expected to result from the occurrence of the Project Phase 1 Completion Date;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;no default by an Obligor exists under any Material Project Agreement that could reasonably be expected to have a Material Adverse Effect and, to the Knowledge of each Obligor, no default by a Material Project Counterparty exists under any Material Project Agreement that could reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;to the Knowledge of each Obligor, no event of force majeure (as defined in the applicable Material Project Agreement) has occurred and is Continuing under any Material Project Agreement, the consequences of which could reasonably be expected to have a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;(i) the Required LNG SPAs (including guarantees or other forms of credit support required by their terms), (ii) the Phase 1 Gas Transportation Agreements (or Replacement Material Contract in respect thereof), (iii) the Phase 1 Service Agreements described in clauses (a) through (k) and (m) of the definition thereof (or Replacement Material Contract in respect thereof) and (iv) the gas supply agreements that collectively are sufficient to enable the Borrower to meet its obligations under the Required LNG SPAs are, in each case, in full force and effect, enforceable against the parties thereto in accordance with such contract's terms, except as limited by general principles of equity and bankruptcy, insolvency and similar laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Physical Completion Certificate*

Receipt by the Intercreditor Agent of a certificate from the Independent Engineer confirming:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;that Facility Substantial Completion (as such term is defined in the Phase 1 EPC Contract) has occurred pursuant to the Phase 1 EPC Contract (subject to the completion of any punch list items under the Phase 1 EPC Contract);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the applicable performance tests under each of the Phase 1 EPC Contract and the Phase 1 Procurement, Supply and Construction Contracts described in clauses (a) through (d) and (l) of the definition thereof have been successfully passed in accordance with such Phase 1 Material Construction Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the Lenders' Reliability Test has been passed in accordance with the test criteria set out in Schedule O (*Phase 1 Lenders' Reliability Test Criteria*) hereto and the "LRT Completion Certificate"

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contemplated thereby has been delivered to the Intercreditor Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower's calculation of the Permitted Completion Costs and that the Borrower has reserved an amount sufficient for the Permitted Completion Costs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Project Facilities are Operational.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Commercial Operation Date*

Receipt by the Intercreditor Agent of a duly executed certificate of the Borrower certifying that the Commercial Operation Date under each of the Required LNG SPAs then in effect has timely occurred in accordance with such Required LNG SPA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Payment*

Receipt by the Collateral Agent of evidence that the Borrower shall have paid all amounts due and payable under each of the Phase 1 Material Construction Contracts other than: (i) the Permitted Completion Amount, which is on deposit in the Construction Account after giving effect to the deposits and transfers set forth in Section 4.5(d) (*Deposits and Withdrawals – Construction Account*) of the Common Security and Account Agreement, (ii) amounts properly withheld or retained by the Borrower in accordance with the terms and conditions of such Phase 1 Material Construction Contracts, (iii) any bonus or other amounts payable under such Phase 1 Material Construction Contracts after Final Completion and (iv) any disputed amount under such Phase 1 Material Construction Contracts; *provided* that, in the event that any amount under such Phase 1 Material Construction Contract is disputed by the Borrower, the Borrower shall have reserved funds in an amount determined by the Borrower acting in good faith for payment of any disputed amounts that may reasonably be expected to be determined or agreed to be payable by the Borrower (such amounts the "*Disputed Amounts*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Title Policy Endorsement*

Receipt by the Intercreditor Agent of a Disbursement Endorsement meeting the requirements set forth in the definition thereof for the delivery of such endorsement on the Project Phase 1 Completion Date as of a recent date, not to exceed 30 days prior to the Phase 1 Project Completion Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;*Insurance*

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Receipt by the Intercreditor Agent of a certificate from the Borrower (confirmed in writing to be reasonable by the Insurance Advisor) confirming that all insurance premium payments due and payable as of the Project Phase 1 Completion Date have been paid and that the insurance then in place relating to the Phase 1 Project Facilities is in effect and complies with the then-applicable requirements of Schedule L (*Schedule of Minimum Insurance*) hereto, and certificates of insurance, binders or other documentation evidencing such insurance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;*Permits*

Receipt by the Intercreditor Agent of evidence that all material Permits necessary for the Development (as set forth on Schedule F (*Material Permits*)) (and, in the case of any Export Authorization, such Export Authorization to the extent that it is a Required Export Authorization):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;have been obtained and are in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;are held in the name of an Obligor or such third party as set forth on Schedule F (*Material Permits*) hereto and as allowed pursuant to applicable law or regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;satisfy the Permit Appeal Qualification and all applicable fixed time periods for appeal set forth in the Government Rules pursuant to which such Permits were issued have expired or are Permits that do not have limits on appeal periods under applicable law or regulation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;are free from conditions or requirements (A) the compliance with which could reasonably be expected to have a Material Adverse Effect or (B) that the applicable Obligor does not expect to be able to satisfy on or prior to the commencement of the relevant stage of Development except to the extent that failure to so satisfy such condition or requirement could not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Phase 1 Project Facilities Placed in Service*

Receipt by the Intercreditor Agent of evidence that the Obligors have received from FERC a notice, order or other written communication authorizing it to place facilities comprising the Phase 1 Project Facilities in service, and that the Phase 1 Project Facilities shall have been placed in service.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;*[Reserved]*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;*Lien Waivers*

Receipt by the Intercreditor Agent of: (i) copies of Lien Waivers as have then been (and only to the extent) required pursuant to each Phase 1 Material Construction Contract; (ii) to the extent applicable, copies of one or more notices of termination of work filed pursuant to the Louisiana Private Works Act in the mortgage records of Cameron Parish, Louisiana, certifying termination of the work under the Phase 1 EPC Contract, including the installation, testing and start-up of equipment supplied to the Borrower pursuant to the Phase 1 EPC Contract and the other Phase 1 Material Construction Contracts (other than those Phase 1 Pipeline Construction Contracts and Phase 1 Procurement, Supply and Construction Contracts referred to in clause (iii) of this Section 14.1(k) (*Conditions to Occurrence of Project Phase 1 Completion Date – Lien Waivers*)); (iii) to the extent applicable, copies of one or more notices of termination of work filed pursuant to the Louisiana Private Works Act in the mortgage records of Cameron Parish and Calcasieu Parish, Louisiana, certifying termination of the work under the Phase 1 Pipeline Construction Contracts and the Phase 1 Procurement, Supply and Construction Contracts; (iv) a lien certificate by the recorder of mortgages of Cameron Parish and Calcasieu Parish, Louisiana, issued after the period for filing a statement of claim or privilege under the Louisiana Private Works Act has expired and confirming that no statements of claim or privilege are of record (other than Permitted Liens) for work performed under the Phase 1 Material Construction Contracts; (v) to the extent applicable, copies of recorded releases of claims or liens recorded pursuant to Chapter 53 of the Texas Property Code in connection with or arising from work performed under the Phase 1 EPC Contract, the Phase 1 Pipeline Construction Contracts and/or the Phase 1 Procurement, Supply and Construction Contracts that satisfy the requirements of Section 53.152 of the Texas Property Code; (vi) to the extent applicable, copies of recorded bonds to indemnify meeting all of the requirements of Subchapter H of Chapter 53 of the Texas Property Code for any claims or liens recorded pursuant to Chapter 53 of the Texas Property Code in connection with or arising from work performed under the Phase 1 EPC Contract, the Phase 1 Pipeline Construction Contracts and/or the Phase 1 Procurement, Supply and Construction Contracts; (vii) to the extent applicable, copies of any recorded affidavits of completion that satisfy the requirements of Section 53.106 of the Texas Property Code that were required under the Phase 1 EPC Contract, the Phase 1 Pipeline Construction Contracts and/or the Phase 1 Procurement, Supply and Construction Contracts; and (viii) to the extent applicable, copies of any affidavits of all bills paid that satisfy the requirements of Section 53.085 of the Texas Property Code that were

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required under the Phase 1 EPC Contract, the Phase 1 Pipeline Construction Contracts and/or the Phase 1 Procurement, Supply and Construction Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;*Initial Operating Budget*

The Intercreditor Agent shall have received the initial Operating Budget required pursuant to Section 10.5 (*Operating Budget*) relating to the Phase 1 Project Facilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;*Notes*

The Intercreditor Agent shall have received copies of the promissory notes requested by the Credit Facility Lenders pursuant to the Credit Facility Agreement duly authorized, executed and delivered by the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;*Senior Facilities Debt Service Reserve Account*

The Senior Facilities Debt Service Reserve Account shall have been funded in an amount equal to the Senior Facilities Debt Service Reserve Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;*Letter of Credit Reimbursement*

The Borrower shall have repaid any outstanding LC Reimbursement Payments and/or any LC Loans (as defined in the Credit Facility Agreement) outstanding as a result of a draw on any Letters of Credit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;*Senior Debt/Equity Ratio* 

The Senior Debt/Equity Ratio shall be no greater than 75:25, as certified by the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;*Additional Material Project Agreements* 

The Intercreditor Agent shall have received copies of any Material Project Agreements and required material Permits entered into or issued after the Closing Date, to the extent not previously delivered by the Borrower to the Intercreditor Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.2&nbsp;&nbsp;&nbsp;&nbsp;Project Phase 1 Completion Date Waterfall**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Preliminary Determination*

The Intercreditor Agent and the Credit Facility Agent shall have received (i) a preliminary determination (together with reasonably detailed calculations therefor) at least 10 Business Days prior to the proposed Project Phase 1 Completion Date and (ii) a final

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determination (together with reasonably detailed calculations therefor) at least five Business Days prior to the proposed Project Phase 1 Completion Date, in each case, of the amount of the final advance of Term Loans and the payments and transfers to be applied pursuant to Section 14.2(c) (*Project Phase 1 Completion Date Waterfall*), in each case, in form and substance reasonably satisfactory to the Credit Facility Agent acting in consultation with the Independent Engineer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Final Advance of Term Loans*

On the day that is one Business Day prior to the Project Phase 1 Completion Date and assuming all conditions to the Project Phase 1 Completion Date have been met or waived as of such day, and the Borrower has given a notice to the Intercreditor Agent requesting such final Advance at least three Business Days prior to such day, the full remaining undrawn amount of the Term Loan Commitment, if any, shall be funded by the Secured Parties holding Term Loan Commitments and deposited into the Construction Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Project Phase 1 Completion Date Waterfall*

On the Project Phase 1 Completion Date, (i) amounts on deposit in the Contingency Reserve Account relating to the Phase 1 Project Facilities shall be transferred to the Construction Account pursuant to Section 4.5(k)(iii) (*Deposits and Withdrawals – Contingency Reserve Account*) of the Common Security and Account Agreement, (ii) amounts on deposit in the Pre-Completion Revenues Account relating to the Phase 1 Project Facilities shall be transferred to the Construction Account pursuant to Section 4.5(b)(iii) (*Deposits and Withdrawals – Pre-Completion Revenues Account*) of the Common Security and Account Agreement and (iii) amounts on deposit in the Construction Account (after giving effect to clauses (i) and (ii) above) to the extent relating to the Phase 1 Project Facilities shall be applied in the following order of priority:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;*first*, to pay all outstanding Project Costs with respect to the Phase 1 Project Facilities that are then due and payable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;*second*, to pay all Debt Service with respect to the Phase 1 Project Facilities then due and payable, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;*third*, to reserve in the Completion Reserve Account an amount equal to the sum of (i) Permitted Completion Amount with respect to the Phase 1 Project Facilities plus (ii) all Disputed Amounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;*fourth*, to fund the Senior Facilities Debt Service Reserve Account and each Additional Debt Service Reserve Account (to the extent not funded, at the option of the Borrower, with one or more Acceptable Debt Service Reserve LCs, and taking into account any Acceptable Debt Service Reserve LCs or other cash already on deposit

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therein) in an amount equal to the Senior Facilities Debt Service Reserve Amount; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;*fifth*, to the extent any cash remains on deposit in the Construction Account, to the Revenue Account.

**15.&nbsp;&nbsp;&nbsp;&nbsp;LOAN FACILITY EVENTS OF DEFAULT** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.1&nbsp;&nbsp;&nbsp;&nbsp;Loan Facility Events of Default**

Except as may be set forth in a Facility Agreement with respect solely to such Facility Agreement, the following events, and no others, shall be Loan Facility Events of Default:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Payment Default*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower fails to pay principal amounts due under the Finance Documents; *provided* that, if failure to pay occurs due to a purely administrative error, the Borrower shall have three Business Days to cure such failure; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower fails to pay interest or any other Senior Debt Obligations due under the Finance Documents within three Business Days after those amounts become due.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Breach of Project Representations and Warranties*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Any representation or warranty made by any Obligor in Article 5 (*Representations and Warranties of the Obligors*), or any representation, warranty or statement in any certificate, financial statement or other document furnished by any Obligor pursuant to this Agreement, is false when made and if such falsity is capable of being corrected or cured, is not corrected or cured within 60 days after the earlier of (A) the applicable Obligor, becoming aware of such falsity and (B) notice from the Intercreditor Agent to the Borrower, and such falsity or the adverse effects therefrom could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Any representation or warranty made by the Pledgor in the Security Document referred to in Section 3.3 (*Security Interests to be Granted by Pledgor*) of the Common Security and Account Agreement is false when made and such falsity is not corrected or cured within 60 days after the earlier of (A) the Borrower becoming aware of such falsity and (B) notice from the Intercreditor Agent to the Borrower, and such falsity or the adverse

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effects therefrom could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Breach of Certain Covenants*

Except as specifically provided for in another Loan Facility Event of Default in this Section 15.1 (*Loan Facility Events of Default*):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;breach by an Obligor of any covenant described in Article 6 (*Incurrence of Additional Senior Debt*), Section 12.1 (*Use of Proceeds*), Sections 12.2(a) or (b) (*Maintenance of Existence, Franchises, Etc.*), Section 12.18 (*Merger, Division, Liquidation and Sale of All Assets*) or Section 12.30 (*Margin Regulation*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;breach of Section 12.25 (*Historical DSCR*) that is not cured within twenty (20) Business Days as set forth in Section 12.25 (*Historical DSCR*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;breach by an Obligor of any covenant described in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Section 7.2 (*Expansion Contracts*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;Section 8.3 (*Amendment of LNG SPAs*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;Section 9.1 (*Change Orders*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.2(c) (*Maintenance of Existence, Franchises, Etc.*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.6 (*Compliance with Law*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.7 (*Environmental Compliance*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.13 (*Taxes*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.14 (*Limitation on Indebtedness*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.15 (*Guarantees*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.16 (*Limitation on Liens*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.17 (*Sale of Project Property*); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.19 (*Limitation on Investments and Loans*),

in each case with respect to the events in this sub-clause (iii) that is not corrected or cured within 30 days following the earlier of (x)

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the applicable Obligor becoming aware of such failure and (y) notice from the Intercreditor Agent to the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;material breach by Pledgor of any covenant contained in the Pledge Agreement that is not corrected or cured within 30 days after the earlier of (A) Pledgor becoming aware of such failure; and (B) notice from the Intercreditor Agent to the Borrower and Pledgor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;material breach by an Obligor of Section 12.5(f) (*Material Project Agreements*) (but excluding covenants therein as they may apply to termination of any LNG SPA) that is not corrected or cured within 60 days after the earlier of (1) the applicable Obligor becoming aware of such breach; and (2) notice from the Intercreditor Agent to the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;material breach by an Obligor of Section 7.1(a) (*Permitted Development Expenditures*) or Section 12.5 (*Material Project Agreements*) clauses (b), (c), (d), (e), (g) or (k) (but excluding covenants therein as they may apply to termination of any LNG SPA), in each case, with respect to the events in this sub-clause (vi), that is not corrected or cured within 60 days after the earlier of (1) the applicable Obligor becoming aware of such breach; and (2) notice from the Intercreditor Agent to the Borrower, such cure period to be extended to a total of 90 days so long as the breach is subject to cure, such Obligor is diligently pursuing a cure and such additional cure period could not reasonably be expected to result in a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;breach by an Obligor of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.3 (*Project Construction; Maintenance of Properties*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.4 (*Books and Records; Inspection Rights*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.20 (*Nature of Business*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.27 (*Gas Supply Arrangements*); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;Section 12.21 (*Transactions with Affiliates*); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;material breach by an Obligor of any other covenant in Article 12 (*Obligor Covenants*) (except for the covenants described in Section 12.8 (*Permits*) and Section 12.10

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(*FERC Order*), which are subject to clause (p) (*Loan Facility Events of Default – Permits Generally*) below) or any other covenant in this Agreement, the Security Documents, or with respect to any Facility Lender, its Facility Agreement; and

in each case, with respect to the events in this sub-clause (vii), that is not corrected or cured within 60 days after the earlier of (1) the applicable Obligor becoming aware of such breach; and (2) notice from the Intercreditor Agent to the Borrower, such cure period to be extended to a total of 90 days so long as the breach is subject to cure, such Obligor is diligently pursuing a cure and such additional cure period could not reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Bankruptcy*

A Bankruptcy with respect to an Obligor or the Pledgor has occurred or after a Permitted CFCo Contribution, a Bankruptcy with respect to CFCo has occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Abandonment*

Abandonment has occurred and is continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Destruction*

All or substantially all of the Project Facilities is destroyed, lost or damaged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;*Event of Taking*

An Event of Taking of (i) all or substantially all of the Project Facilities or (ii) that could reasonably be expected to have a Material Adverse Effect has occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;*Security Interests Invalid*

Any of the Security Interests over a material portion of the Collateral cease to be validly perfected (subject to applicable Reservations) in favor of the Collateral Agent on behalf of the Secured Parties, and five Business Days have elapsed after the Collateral Agent or Intercreditor Agent gave notice to the Borrower thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Unsatisfied Judgments*

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Any one or more of final judgments in excess of $200 million in the aggregate against an Obligor (or against any other Person where an Obligor is liable to satisfy such judgment), in each case such amounts to be measured net of Insurance Proceeds which are reasonably expected to be paid and, in each case, such judgment or judgments remain unpaid, unstayed on appeal, undischarged, unbonded or undismissed for a period of 90 days after the date of entry of such judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;*Unenforceability or Termination of Finance Documents*

Any of the Finance Documents (other than (x) a Direct Agreement in respect of any LNG SPA that is not a Required LNG SPA then in full force and effect or (y) any Direct Agreement in the case where the occurrence of a Loan Facility Event of Default has been triggered by an event affecting the underlying Material Project Agreement or a Senior Debt prepayment remedy or other Loan Facility Event of Default is applicable under the Finance Documents) or any material provision thereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;is expressly repudiated in writing by any party thereto (other than the Collateral Agent, the Account Bank, the Intercreditor Agent or any Facility Lender);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;shall have been terminated (other than pursuant to the terms thereof following discharge in full of all obligations thereof or otherwise by agreement in writing of the parties thereto not as a result of a Loan Facility Event of Default hereunder); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;is declared unenforceable in a final judgment of a court of competent jurisdiction against any party (other than the Collateral Agent, the Account Bank, the Intercreditor Agent or any Facility Lender) and such unenforceability is not cured (subject to any applicable Reservations) within five Business Days following the date of entry of such judgment; *provided* that, such five-Business Day period shall apply only so long as the relevant party is attempting in good faith to cure such unenforceability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;*Unenforceability or Termination of Material Project Agreements:*

Any Material Project Agreement (other than any LNG SPA that does not constitute a Required LNG SPA) or any material provision thereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;is expressly repudiated in writing by any party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;is declared unenforceable in a final judgment of a court of competent jurisdiction against any party and such unenforceability

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is not cured (subject to any applicable Reservations) within 60 days following the date of entry of such judgment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;shall have been terminated (other than pursuant to the terms thereof following discharge in full of all obligations thereof or otherwise by agreement in writing of the parties thereto); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;shall at any time for any reason cease to be valid and binding or in full force and effect, unless such Material Project Agreement expires or terminates pursuant to its terms;

*provided* that, in each case of sub-clauses (i) and (ii) above there could reasonably be expected to be a Material Adverse Effect as a result thereof (without regard, for such purpose, to clause (a) of the definition of Material Adverse Effect); *provided further* that, in respect of sub-clause (ii) above, such 60 day period shall apply only so long as the relevant party is attempting in good faith to cure such unenforceability;

*provided further* that, in each case of sub-clauses (iii) and (iv) above, any such case shall not give rise to a Loan Facility Event of Default if, (i) in case of any termination of a Required LNG SPA, the Obligors enter into a Replacement Material Contract within 180 days of such termination, such cure period to be extended to a total of 270 days so long as the breach is subject to cure, such Obligor is diligently pursuing a cure and such additional cure period could not reasonably be expected to result in a Material Adverse Effect and (ii) in case of any termination of any other Material Project Agreement (other than any LNG SPA that does not constitute a Required LNG SPA), the Obligors enter into a Replacement Material Contract within 60 days of such termination, such cure period to be extended to a total of 90 days so long as the breach is subject to cure, such Obligor is diligently pursuing a cure and such additional cure period could not reasonably be expected to result in a Material Adverse Effect, in each case in accordance with the requirements of Section 12.5(g) (*Material Project Agreements*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;*Failure to Achieve Project Phase 1 Completion Date by Phase 1 LNG Facility Date Certain*

The Project Phase 1 Completion Date does not occur by the Phase 1 LNG Facility Date Certain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;*Cross Acceleration (other Indebtedness)*

A default has occurred with respect to Indebtedness (other than (i) Indebtedness secured by the Security Documents and (ii) Subordinated Debt) of any Obligor that exceeds a principal amount of $200 million and

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such default has continued beyond any applicable grace period, and its effect has been to cause the entire amount of such Indebtedness to become due and such Indebtedness remains unpaid or the acceleration of its stated maturity remains unrescinded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;*Cross Acceleration (Senior Notes)*

In respect of any Senior Notes outstanding, if applicable, acceleration of such Senior Notes following an Indenture Event of Default, without prejudice to any Loan Facility Event of Default under clause (a) (*Loan Facility Events of Default – Payment Default*) above that may be triggered by a breach under any Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;*[Reserved]*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;*Permits Generally*

From and after the Closing Date, any Permit required under Section 12.8 (*Permits*), Section 12.9 (*Export Authorizations*) or Section 12.10 (*FERC Order*) related to the Borrower or the Development is Impaired and such Impairment could reasonably be expected to have a Material Adverse Effect, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower provides a reasonable remedial plan (which sets forth in reasonable detail the proposed steps to be taken to cure such Impairment) no later than 30 days following the date that the Borrower has Knowledge of the occurrence of such Impairment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower diligently pursues the implementation of such remedial plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;such Impairment is cured no later than 90 days following the occurrence thereof (or such longer period, if any, presented by any administrative, legal, regulatory or statutory time period applicable thereto but only as may be reasonably necessary to cure such Impairment or required by a Governmental Authority; *provided* that, the Borrower shall have no more than 180 days in the aggregate to cure such Impairment).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;*ERISA*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;On or after the Closing Date, an ERISA Event has occurred and is continuing and such event, whether individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate "amount of unfunded benefit liabilities" (within the meaning of Section 4001(a)(18) of ERISA) under all Plans determined in accordance with Title IV of ERISA could reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;*Change of Control*

A Change of Control has occurred and is continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.2&nbsp;&nbsp;&nbsp;&nbsp;Declaration of Loan Facility Declared Default**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;A Loan Facility Declared Default occurs upon delivery to the Borrower (with a copy to the Collateral Agent), after any applicable grace or cure period has expired, of a certificate from the Intercreditor Agent stating that any Loan Facility Event of Default has occurred and is Continuing and declaring a Loan Facility Declared Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;A Loan Facility Declared Default also shall be deemed to have occurred and been declared without the delivery of such a certificate or such declaration or any other notice upon the occurrence of a Loan Facility Event of Default referred to in Section 15.1(d)(i) (*Loan Facility Events of Default* – *Bankruptcy*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.3&nbsp;&nbsp;&nbsp;&nbsp;Cessation of Loan Facility Declared Default**

The Intercreditor Agent shall promptly notify the Collateral Agent, the Borrower and each Facility Lender upon learning of the cessation of the Loan Facility Event of Default to which such certificate(s) related (such notice, a "*Cessation Notice*"). Upon delivery of a Cessation Notice, the applicable Loan Facility Declared Default shall be deemed not to be Continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.4&nbsp;&nbsp;&nbsp;&nbsp;Instruction to Intercreditor Agent**

Any Senior Creditor Group Representative may deliver an instruction to the Intercreditor Agent to deliver a certificate stating that any Loan Facility Event of Default has occurred and Requisite Intercreditor Parties may deliver an instruction to the Intercreditor Agent to deliver a Cessation Notice; *provided* that, in the case of a Loan Facility Event of Default that arises solely under an individual Facility Agreement, such instruction to declare a Loan Facility Event of Default or a cessation of a Loan Facility Event of Default to the Intercreditor Agent may be given only by the Senior Creditor Group Representative representing the Facility Lenders under such Facility Agreement (and not any other Senior Creditor Group Representatives).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.5&nbsp;&nbsp;&nbsp;&nbsp;Excluded Lenders**

If any Loan Facility Event of Default occurs as result of: (a) any Obligor failing to comply with Section 12.1 (*Use of Proceeds*) or Section 12.6 (*Compliance with Law*) in respect of any Sanctions specified in the Blocking Regulation that would result in a violation of any Blocking Regulation; or (b) a representation or warranty made or deemed to be made under clause (c) or (g) of Section 5.1 (*Initial Representations and Warranties of the Obligors*) or under clause (d)(ii) or (o) of Section 5.2 (*Repeated Representations and Warranties of the Obligors*), in each case, which relates to any Sanctions specified in the Blocking Regulation being incorrect or misleading in any material respect when made or deemed to be made and would result in a violation of any Blocking Regulation, then, notwithstanding anything to the contrary contained herein or in the other Finance Documents, the Commitments and Loans (each as defined in the Credit Facility Agreement) (or equivalent terms set forth in the applicable Facility Agreement) of each Excluded Lender shall be disregarded in the determination of Required Lenders (as defined in the Credit Facility Agreement) and Requisite Intercreditor Parties, in each case, for purposes of exercising or waiving any right or remedy under the Finance Documents, with respect to such Loan Facility Event of Default.

**16.&nbsp;&nbsp;&nbsp;&nbsp;COMMON REMEDIES AND ENFORCEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.1&nbsp;&nbsp;&nbsp;&nbsp;Facility Lender Remedies for Loan Facility Declared Events of Default**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Enforcement Action*

Subject to clause (b) (*Facility Lender Remedies for Loan Facility Declared Events of Default – Initiating Percentage for Enforcement Action with Respect to Collateral*) below and the Common Security and Account Agreement, upon the occurrence and Continuation of a Loan Facility Declared Default, based on the instruction procedures described in clause (b) (*Facility Lender Remedies for Loan Facility Declared Events of Default – Initiating Percentage for Enforcement Action with Respect to Collateral*) below, rights and remedies (each, an "*Enforcement Action*") may be exercised on behalf of the Facility Lenders under their Facility Agreement, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;suspension of undrawn Facility Debt Commitments under the Facility Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;termination of undrawn Facility Debt Commitments and acceleration of all Senior Debt Obligations under the Facility Agreements;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;directing the Collateral Agent to take control of the Secured Accounts and apply the balances in accordance with Section 4.7 (*Cash Waterfall*) of the Common Security and Account Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;subject to clause (b) (*Facility Lender Remedies for Loan Facility Declared Events of Default – Initiating Percentage for Enforcement Action with Respect to Collateral*) below, requesting the Collateral Agent to exercise all rights with respect to the Security Interests and apply the proceeds from the enforcement of Security Interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Initiating Percentage for Enforcement Action with Respect to Collateral* 

Upon a Loan Facility Declared Default, the Required Intercreditor Parties shall have the right to instruct the Intercreditor Agent who shall in turn request the Collateral Agent (and confirm in writing to the Collateral Agent that such instruction has been given pursuant to this Agreement and Intercreditor Agreement) to take Enforcement Action pursuant to the Common Security and Account Agreement; *provided* that, upon an Event of Default under Section 15.1(d) (*Loan Facility Events of Default – Bankruptcy*), all Senior Debt Obligations under Loans shall be accelerated automatically and shall immediately become due and payable, without presentment, demand, protest or other notice or action of any kind, all of which are expressly waived by the Obligors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.2&nbsp;&nbsp;&nbsp;&nbsp;Remedies for Events of Default under Facility Agreements**

At any time after the occurrence of any Loan Facility Event of Default that is not listed in Section 15.1 (*Loan Facility Events of Default*) of this Agreement but arises only under an individual Facility Agreement, the relevant Facility Agent may, subject to the terms and conditions of this Agreement, the Common Security and Account Agreement and the Intercreditor Agreement, exercise the express remedies available to it in accordance with such Facility Agreement and shall promptly notify each other Facility Agent, the Borrower and the Intercreditor Agent thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.3&nbsp;&nbsp;&nbsp;&nbsp;Permitted Actions under Common Security and Account Agreement**

Nothing in this Article 16 (*Common Remedies and Enforcement*) shall limit or restrict any right of any Secured Party or the Collateral Agent pursuant to Section 6.3 (*Conduct of Security Enforcement Action*) of the Common Security and Account Agreement.

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**17.&nbsp;&nbsp;&nbsp;&nbsp;INTERCREDITOR ARRANGEMENTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.1&nbsp;&nbsp;&nbsp;&nbsp;Facility Agents; Facility Lender Action**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Facility Agents hereby represents that it has been duly appointed pursuant to the applicable Facility Agreement to represent the applicable Facility Lender(s) that is a lender or are lenders under such Facility Agreement and is entitled to vote and give instructions to the Intercreditor Agent (and, where applicable, to act thereunder) on behalf of the Facility Lender(s) that is a lender or are lenders under such Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Facility Agent shall, for purposes of this Agreement, act in its capacity as "Facility Agent" under the applicable Facility Agreement and shall, for purposes of the Common Security and Account Agreement, act in the capacity of Senior Creditor Group Representative on behalf of the Facility Lender(s) that is a lender or are lenders under the applicable Facility Agreement (each such group of Facility Lender(s) under an individual Facility Agreement being a "Senior Creditor Group" for purposes of the Common Security and Account Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything herein to the contrary, where any Facility Agent exercises any right or discretion, makes any Decision or determination or performs any obligation under this Agreement, references to "Facility Agent" in such circumstances shall mean "Facility Agent acting pursuant to instructions from its Facility Lender(s) in accordance with the Intercreditor Agreement or the applicable Facility Agreement, as the case may be."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything herein to the contrary, where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Intercreditor Agent exercises any right or discretion, makes any Decision or determination or performs any obligation under this Agreement, references to "Intercreditor Agent" in such circumstances shall mean "Intercreditor Agent acting pursuant to instructions from Requisite Intercreditor Parties as may be required in accordance with the Intercreditor Agreement"; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a Facility Agent, in its capacity as such or as a Senior Creditor Group Representative, makes any Decision or determination or performs any obligation under this Agreement, references to "Facility Agent" and "Senior Creditor Group Representative" in such circumstances shall mean such "Facility Agent" or "Senior Creditor Group Representative", in each case acting pursuant to instructions from requisite Facility Lenders as may be required in

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accordance with its Facility Agreement and, if applicable, the Intercreditor Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.2&nbsp;&nbsp;&nbsp;&nbsp;Agreement to Comply with Intercreditor Agreement**

The Intercreditor Agent agrees for the benefit of the Borrower that, in discharging its duties as Intercreditor Agent, it shall act at all times in accordance with the terms of the Intercreditor Agreement and the Common Security and Account Agreement as they may be amended from time to time, and which shall include, for the avoidance of doubt, the obtaining of the consent of the Borrower to any replacement Intercreditor Agent to the extent required herein or therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.3&nbsp;&nbsp;&nbsp;&nbsp;Agreement Not to Amend Entrenched Intercreditor Provisions**

The Intercreditor Agent and the Facility Agents agree not to Modify the following provisions of the Intercreditor Agreement unless otherwise agreed in writing by the Borrower (in the addition to the agreement of any other party that is required under the Intercreditor Agreement):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Article 1 (*Definitions and Interpretation*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Section 2.2 (*Intercreditor Agent's Rights and Obligations*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Section 2.4(d) (*Defaults*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Sections 2.7(a) and (b) (*Resignation of Intercreditor Agent*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Section 2.8 (*Removal of Intercreditor Agent*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.1 (*Decision Making*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.2 (*Voting Generally: Intercreditor Party Decisions and Intercreditor Votes*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.3 (*Intercreditor Votes: Each Party's Entitlement to Vote*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.4 (*Casting of Votes*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.6 (*Other Voting Considerations*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.7 (*Voting by Hedging Banks*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Section 3.8 (*Voting by Sponsor and its Affiliates*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Section 4.1 (*100% Voting Issues*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Section 4.2 (*Special Voting Issues*);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Section 4.3 (*Majority Voting Issues*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Section 4.4 (*Administrative Decisions*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Section 4.6 (*Individual Senior Creditor Group Decisions*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;Article 5 (*Agreement of Hedging Banks*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;Section 6.1 (*Governing Law*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;Section 7.2 (*Amendment*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;Section 7.12 (*Third-party Beneficiaries*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Schedule 1 (*All Loan Facilities Decisions*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;Schedule 2 (*Administrative Decisions*).

**18.&nbsp;&nbsp;&nbsp;&nbsp;THE INTERCREDITOR AGENT** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.1&nbsp;&nbsp;&nbsp;&nbsp;Intercreditor Agreement**

Pursuant to and in accordance with the Intercreditor Agreement, the Facility Lenders have appointed the Intercreditor Agent to, among other things, act as their agent under and in connection with this Agreement and the Intercreditor Agreement and any other Finance Document to which the Intercreditor Agent (in such capacity) is a party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.2&nbsp;&nbsp;&nbsp;&nbsp;Relationship**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Intercreditor Agent shall in no respect be the agent of the Borrower by virtue of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Intercreditor Agent shall not be liable to the Borrower for any breach by any Person (other than for the Intercreditor Agent's own gross negligence, fraud or willful misconduct as determined by a court of competent jurisdiction in a final and non-appealable judgment), or be liable to any Person for any breach by the Borrower, of this Agreement or any of the Finance Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.3&nbsp;&nbsp;&nbsp;&nbsp;Delivery of Documentation**

Executed counterparts of each of the Finance Documents have been delivered to the Intercreditor Agent on, or prior to, the Closing Date and the Intercreditor Agent has acknowledged receipt thereof. Each of the Parties hereto agrees to deliver to the Intercreditor Agent executed counterparts of any Permitted Hedging Instrument or any Senior Debt Instrument relating to Replacement Debt, Project

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Phase 2 Development Debt, Working Capital Debt, Permitted Internal Expansion Debt, Permitted Relevering Debt, Permitted Completion Senior Debt, PDE Senior Debt, Restoration Debt and of any instrument amending or modifying any agreement previously delivered to the Intercreditor Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.4&nbsp;&nbsp;&nbsp;&nbsp;Liability**

The Intercreditor Agent shall not be responsible to the Borrower for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the execution (other than its own execution), genuineness, validity, adequacy, enforceability, admissibility in evidence or sufficiency of any Finance Document or any other document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the collectability of amounts payable under any Finance Document; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the adequacy, accuracy and/or completeness of any statements (whether written or oral) made in, or in connection with, any Finance Document, with the exception of any statements made with respect to itself.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.5&nbsp;&nbsp;&nbsp;&nbsp;Exoneration**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Without limiting clause (b) of this Section 18.5 below, the Intercreditor Agent (including its officers, employees, agents and attorneys) shall not be liable to the Borrower for any action taken or not taken by it under, or in connection with, this Agreement or any other Finance Document unless directly caused by its gross negligence, fraud or willful misconduct as determined by a final non-appealable judgment of a court of competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may not bring any proceedings against any officer, employee, agent or attorney of the Intercreditor Agent in respect of any claim it might have against it or in respect of any act or omission of any kind (including gross negligence, fraud or willful misconduct) by that officer, employee or agent in relation to this Agreement or any other Finance Document. Without prejudice to the provisions of the preceding sentence of this clause (b), the restriction against taking proceedings set out in the preceding sentence of this clause (b) is not and shall not be construed as a waiver of any claim based on the conduct of such officer, employee or agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.6&nbsp;&nbsp;&nbsp;&nbsp;Reliance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Intercreditor Agent shall be entitled to rely conclusively on the list of authorized signatories of the Obligors delivered to it pursuant to Section 4.1(k) (*Conditions to Closing Date and Initial Advance – Bank Regulatory Requirements*) (with such written updates to such authorized signatories

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(certifying the names and true signatures of any new authorized signatories) as may be notified by the Obligors to the Intercreditor Agent from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Facility Lenders shall communicate to the Intercreditor Agent only through the relevant Facility Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.7&nbsp;&nbsp;&nbsp;&nbsp;Resignation and Succession**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower acknowledges that, subject to and in accordance with the terms and conditions of the Intercreditor Agreement, the Intercreditor Agent may resign and a successor Intercreditor Agent shall be appointed in accordance with the terms of the Intercreditor Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The resignation of the Intercreditor Agent and the appointment of any successor in that capacity shall both become effective only upon the satisfaction of the applicable conditions set out in the Intercreditor Agreement. On satisfaction of such conditions, the successor Intercreditor Agent shall succeed to the position of the Intercreditor Agent under this Agreement and the term "Intercreditor Agent" shall include the successor Intercreditor Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Upon its resignation becoming effective, Section 18.5(a) (*Exoneration*) and this Section 18.7 (*Resignation and Succession*) shall continue to benefit a retiring Intercreditor Agent in respect of any action taken or not taken by it under or in connection with this Agreement and the other Finance Documents while it was an Intercreditor Agent, and it shall have no further obligations under this Agreement and the other Finance Documents.

**19.&nbsp;&nbsp;&nbsp;&nbsp;CHANGES TO THE PARTIES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.1&nbsp;&nbsp;&nbsp;&nbsp;Represented Parties; Successors and Assigns**

Each Facility Agent represents that it is authorized on behalf of itself and on behalf of each Facility Lender under its Facility Agreement to enter into this Agreement. This Agreement is binding on the successors, permitted transferees and assigns of each Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.2&nbsp;&nbsp;&nbsp;&nbsp;Transfers by the Obligors**

The Obligors may not assign or transfer any of their rights or obligations under this Agreement without the prior written consent of the Intercreditor Agent, and any such attempted assignment or transfer without such prior written consent shall be void and invalid.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.3&nbsp;&nbsp;&nbsp;&nbsp;Replacement of Facility Agents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any Facility Agent may be replaced by the Facility Lender(s) under the relevant Facility Agreement in accordance with the terms of such Facility Agreement, pursuant to which such Facility Agent was appointed and the Borrower, the Intercreditor Agent and each other Facility Agent shall be notified in writing promptly of any such replacement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;No replacement Facility Agent shall become a Facility Agent under this Agreement unless and until:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the resignation in writing of the Facility Agent being replaced has been delivered to the Borrower, the Intercreditor Agent and each other Facility Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;a "*Replacement Facility Agent Accession Agreement*" substantially in the form set forth in Schedule P – 1 (*Replacement Facility Agent Accession Agreement*) has been executed and delivered to the Intercreditor Agent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;such Replacement Facility Agent Accession Agreement, when delivered to the Intercreditor Agent, is accompanied by one or more certificates as to the due authorization, execution and delivery of the Replacement Facility Agent Accession Agreement and incumbency of the officers or attorneys-in-fact who executed the Replacement Facility Agent Accession Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Intercreditor Agent shall, as soon as reasonably practicable, after receiving (A) a duly completed and executed Replacement Facility Agent Accession Agreement which appears on its face to comply with the terms of this Agreement; and (B) all of the documents required to be delivered to it pursuant to this Section 19.3 (*Replacement of Facility Agents*):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;countersign such Replacement Facility Agent Accession Agreement by way of acceptance thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;deliver to the Borrower and each Facility Agent the notice referred to in Section 8 (*Effective Date*) of such Replacement Facility Agent Accession Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Upon the Intercreditor Agent delivering to the Borrower and each Facility Agent the notice referred to in Section 8 (*Effective Date*) of such Replacement Facility Agent Accession Agreement, the Facility Agent shall become (if not already) a party to this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.4&nbsp;&nbsp;&nbsp;&nbsp;Accession in the Event of Additional Senior Debt Incurred Under the Common Terms Agreement**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If the Borrower incurs, pursuant to this Agreement, Additional Senior Debt permitted by and in accordance with Article 6 (*Incurrence of Additional Senior Debt*), then each Facility Agent in respect of such Additional Senior Debt to be appointed pursuant to the applicable Facility Agreement(s) shall accede to this Agreement on behalf of itself and on behalf of the Facility Lenders under the Facility Agreement in respect of which the Additional Senior Debt is incurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;No Facility Agent to be appointed pursuant to Facility Agreements in respect of Additional Senior Debt shall become a Facility Agent under this Agreement, and therefore no Facility Lender under a Facility Agreement in respect of Additional Senior Debt incurred pursuant to this Agreement shall become a Facility Lender under this Agreement, unless and until:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;a "*New Facility Agent Accession Agreement (Additional Senior Debt)*" substantially in the form set forth in Schedule P – 2 (*New Facility Agent Accession Agreement (Additional Senior Debt)*) shall have been executed and delivered to the Intercreditor Agent, in which, among the other provisions set forth in such New Facility Agent Accession Agreement (Additional Senior Debt), the relevant Facility Agent agrees (i) on behalf of itself to become a party to this Agreement and to represent the Facility Lenders under the relevant Facility Agreement and to be bound by all of the terms and conditions of this Agreement and (ii) on behalf of the Facility Lenders under the Facility Agreement in respect of which the Additional Senior Debt is incurred, to become a party to this Agreement and to be bound by all of the terms and conditions of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;such New Facility Agent Accession Agreement (Additional Senior Debt), when delivered to the Intercreditor Agent, shall have been accompanied by one or more certificates as to the due authorization, execution and delivery of the New Facility Agent Accession Agreement (Additional Senior Debt) and incumbency of the officers or attorneys-in-fact who executed the New Facility Agent Accession Agreement (Additional Senior Debt).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Facility Agent representing the Facility Lenders providing the Additional Senior Debt referred to in this Section 19.4 (*Accession in the Event of Additional Senior Debt Incurred Under the Common Terms Agreement*) shall, concurrently with acceding to this Agreement pursuant to this Section 19.4 (*Accession in the Event of Additional Senior Debt Incurred Under the Common Terms Agreement*), accede to (A) the

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Common Security and Account Agreement in accordance with Section 2.2 (*Incremental Senior Debt*) of the Common Security and Account Agreement and (B) the Intercreditor Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;A copy of the related Facility Agreements shall be attached to the New Facility Agent Accession Agreement (Additional Senior Debt) as an exhibit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Intercreditor Agent shall, as soon as reasonably practicable, after receiving (A) a duly completed and executed New Facility Agent Accession Agreement (Additional Senior Debt) which appears on its face to comply with the terms of this Agreement and the Intercreditor Agreement; and (B) all of the documents required to be delivered to it pursuant to this Section 19.4 (*Accession in the Event of Additional Senior Debt Incurred Under the Common Terms Agreement*):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;countersign such New Facility Agent Accession Agreement (Additional Senior Debt) by way of acceptance thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;deliver to the Borrower and each Facility Agent the notice referred to in Section 8 (*Effective Date*) of such New Facility Agent Accession Agreement (Additional Senior Debt) (if applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Upon the Intercreditor Agent delivering to the Borrower and each Facility Agent the notice referred to in Section 8 (*Effective Date*) of such New Facility Agent Accession Agreement (Additional Senior Debt), the Facility Agent on its own behalf and on behalf of the Facility Lenders under its Facility Agreement shall become party to this Agreement in such capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.5&nbsp;&nbsp;&nbsp;&nbsp;Mitigation Obligations; Replacement of Lenders**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If any Facility Lender requires the Borrower to pay any Indemnified Taxes or additional amounts to any Facility Lender or any Governmental Authority for the account of any Facility Lender pursuant to Article 21 (*Tax Gross-Up and Indemnities*) or requests compensation under Section 22.1 (*Increased Costs*), then such Facility Lender (at the request of the Borrower) shall use commercially reasonable efforts to designate a different lending office for funding or booking its Loans under the Finance Documents or to assign its rights and obligations hereunder to another of its offices, branches or Affiliates or take any other reasonable steps not inconsistent with any applicable legal or regulatory restrictions or the internal policies of such Facility Lender that it would otherwise take in similar circumstances under comparable provisions of other financing agreements if, in the reasonable judgment of such Facility Lender, such designation or assignment (i) would eliminate or reduce amounts payable

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pursuant to Article 21 (*Tax Gross-Up and Indemnities*) or Section 22.1 (*Increased Costs*), as applicable, in the future, and (ii) would not subject such Facility Lender to any unreimbursed cost or expense and would not otherwise, in the reasonable opinion of such Facility Lender, be disadvantageous or prejudicial to such Facility Lender. The Borrower hereby agrees to pay and/or indemnify any Facility Lender for all reasonable costs and expenses incurred by such Facility Lender in connection with any such designation or assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If any Facility Lender reasonably determines that any Change in Law has made it unlawful, or if any Governmental Authority has asserted after the Closing Date that it is unlawful, for such Facility Lender or its applicable lending office to fund or maintain its Loans, including, in the case of any Facility Lender under the Credit Facility Agreement, the delivery of an Illegality Notice pursuant to Section 5.01 (*Illegality*) of the Credit Facility Agreement (an "*Illegality Event*"), such Facility Lender shall, in good faith consultation with the Borrower, take all reasonable steps to mitigate any circumstances which arise and which would result in any amount becoming payable under or pursuant to, or cancelled pursuant to, Section 3.4(a)(vi) (*Mandatory Prepayments* – *Illegality*), including transferring its rights and obligations under the Finance Documents to another Affiliate or lending office and, to the extent applicable, converting its outstanding Loans as permitted under the relevant Facility Agreement; *provided* that, this clause (b) in no way limits the obligations of the Borrower under any of the Finance Documents. If, notwithstanding its obligations under this clause (b), such Facility Lender is unable to fund or maintain its Loans as a result of such Illegality Event, the Facility Lender shall promptly notify its Facility Agent upon becoming aware of that Illegality Event, which notice shall set forth in reasonable detail all relevant information about such Illegality Event, and such Facility Agent shall promptly notify and provide such information to the Intercreditor Agent, who shall forward such notice to the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Subject to clause (d) below, if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;(A) the Borrower is required to pay any Indemnified Taxes or additional amounts to any Facility Lender or any Governmental Authority for the account of any Facility Lender pursuant to clause (a) above or (B) any Facility Lender requests compensation under clause (a) above, and, in each case, such Facility Lender has declined or is unable to designate a different lending office or assign its rights and obligations to another of its offices, branches or Affiliates or take any other reasonable steps in accordance with clause (a) above;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any Facility Lender notifies the Borrower of an Illegality Event pursuant to clause (b) above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any Facility Lender becomes a Defaulting Lender; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;any Facility Lender becomes a Non-Consenting Lender,

then the Borrower may, at its sole expense and effort, upon notice to such Facility Lender and its Facility Agent as provided herein, require such Facility Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by the applicable Facility Agreement), all of its interests, rights (other than its existing rights to payments pursuant to Article 21 (*Tax Gross-Up and Indemnities*) or Section 22.1 (*Increased Costs*), as applicable) and obligations under the applicable Facility Agreement and the related Finance Documents to an Acceptable Lender that shall assume such obligations (which assignee may be another Facility Lender, if a Facility Lender accepts such assignment); *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I)&nbsp;&nbsp;&nbsp;&nbsp;such Facility Lender shall have received payment of an amount equal to the Senior Debt Obligations due and payable to such Facility Lender at the time from such assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(II)&nbsp;&nbsp;&nbsp;&nbsp;in the case any such assignment resulting from a claim for indemnification under Article 21 (*Tax Gross-Up and Indemnities*), such assignment shall result in a reduction in such payment of Indemnified Taxes or additional amounts to any Facility Lender or any Governmental Authority for the account of any Facility Lender thereafter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(III)&nbsp;&nbsp;&nbsp;&nbsp;in the case of any such assignment resulting from a claim for compensation under Section 22.1 (*Increased Costs*), such assignment will result in a reduction in such compensation thereafter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(IV)&nbsp;&nbsp;&nbsp;&nbsp;such assignment may be made on a non *pro rata* basis to existing or non-affected Facility Lenders but otherwise subject to Section 3.6 (*Prepayment Fees and Funding Losses*) and the transfers terms of the applicable Facility Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(V)&nbsp;&nbsp;&nbsp;&nbsp;such assignment does not conflict with applicable law or regulations;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(VI)&nbsp;&nbsp;&nbsp;&nbsp;in the case of any assignment resulting from a Facility Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented to the applicable amendment, waiver or consent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(VII)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall have paid to the Facility Agent the assignment fee (if any).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;A Facility Lender shall not be required to make any such assignment or delegation pursuant to clause (c) above if, prior thereto, as a result of a waiver by such Facility Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation pursuant to clause (c) above cease to apply. Notwithstanding the satisfaction of each of the conditions set forth in Article 21 (*Tax Gross-Up and Indemnities*) or Section 22.1 (*Increased Costs*), a Facility Lender shall have the right to refuse to be replaced pursuant to sub-clause 19.5(c)(i) above; *provided* that, the Borrower shall no longer be obligated to pay such Facility Lender any of the compensation or additional amounts incurred or accrued under Article 21 (*Tax Gross-Up and Indemnities*) or Section 22.1 (*Increased Costs*) from and after the date that such replacement would have occurred but for such Facility Lender's refusal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;As a condition of the right of the Borrower to remove any Facility Lender pursuant to this Section 19.5 (*Mitigation Obligations; Replacement of Lenders*), the Borrower shall either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;arrange for the assignment or novation of any Permitted Hedging Instruments with such Facility Lender or any of its Affiliates simultaneously with such removal; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;terminate the applicable Permitted Hedging Instruments and pay any relevant Hedging Termination Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.6&nbsp;&nbsp;&nbsp;&nbsp;Transfers by a Facility Lender**

Facility Lenders with rights or obligations under this Agreement or any other Finance Documents to which it is a party (in its capacity as a Facility Lender) (an "*Existing Facility Lender*") may not assign or transfer, novate or otherwise dispose of any of their rights or obligations in existence at such time except in accordance with the relevant Facility Agreement, and any attempted assignment or transfer without complying with the provisions of this Section 19.6 (*Transfers by a Facility Lender*) shall be void and invalid.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.7&nbsp;&nbsp;&nbsp;&nbsp;Register**

The Facility Agent under each Facility Agreement shall maintain a register of Lenders under such Facility Agreement in accordance with the terms and conditions of the relevant Facility Agreement (the "*Register*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.8&nbsp;&nbsp;&nbsp;&nbsp;Resulting Increased Costs** 

If:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any assignment or transfer of all or any part of the rights and/or obligations of a Facility Lender pursuant to this Agreement and the applicable Facility Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any change in a Facility Lender's facility office from that described in Schedule C (*List of Senior Creditors, Senior Creditor Group Representatives, Senior Debt Commitments / Obligations, Senior Debt Instruments / Permitted Senior Debt Hedging Instruments, Addresses for Notice and Facility Lenders Facility Office*) to the Common Security and Account Agreement,

would, but for this Section 19.8 (*Resulting Increased Costs*), result, as a consequence of circumstances which are prevailing at that time, in the Borrower being obliged to pay any incurred costs (whether as a result of increased costs, illegality or fees in respect of Security Documents, Direct Agreements or perfection of security interests or similar provisions, except as a result of the tax gross-ups provided for under Article 21 (*Tax Gross-Up and Indemnities*)) or indemnities which would not have been payable if such assignment, novation, transfer or change of office had not occurred, then, unless such assignment, novation, transfer or change in facility office was made at the request of the Borrower in accordance with mitigation provisions of the Finance Documents, the Facility Lender shall only be entitled to receive those amounts to the extent that such amounts would have been payable in connection with the Existing Facility Lender or the Existing Facility Lender's facility office had the assignment, transfer or change in facility office not occurred.

**20.&nbsp;&nbsp;&nbsp;&nbsp;SUBORDINATION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.1&nbsp;&nbsp;&nbsp;&nbsp;Subordination**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Parties hereto agree that to the extent that the Sponsor or any Affiliate thereof, or any other Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;has provided Subordinated Debt to the Obligors prior to the Closing Date, each Obligor shall procure (to the extent that they did not so procure on the Closing Date) that such Sponsor, such

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Affiliate or other Person, as applicable, lending it such Subordinated Debt shall enter into a Subordination Agreement substantially in the form included in Schedule S – 1 (*Form of General Subordination Agreement*) hereto simultaneously with and as a condition to the Obligors' entry into this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;intends to provide Subordinated Debt to the Obligors after the Closing Date, each Obligor shall require that the Sponsor, such Affiliate or other Person, as applicable, lending it such Subordinated Debt shall enter into as a condition precedent to providing such Subordinated Debt a Subordination Agreement substantially in the form included in Schedule S – 1 (*Form of General Subordination Agreement*) hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Parties hereto agree that the Obligors shall enter into a subordination agreement substantially in the form included in Schedule S – 2 (*Form of Obligor Subordination Agreement*) hereto on or prior to the date hereof, which shall apply to any Indebtedness any Obligor may from time to time be owed by any other Obligor.

**21.&nbsp;&nbsp;&nbsp;&nbsp;TAX GROSS-UP AND INDEMNITIES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.1&nbsp;&nbsp;&nbsp;&nbsp;Withholding Tax Gross-Up**

Any and all payments by or on account of any obligation of the Borrower under or in connection with any Finance Document shall be made without deduction or withholding for or on account of any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of the Borrower or the relevant Facility Agent, as applicable) requires the deduction or withholding of any Tax from any such payment by the Borrower or the applicable Facility Agent, then the Borrower or the applicable Facility Agent shall make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the Borrower shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Article 21 (*Tax Gross-Up and Indemnities*)), the relevant Finance Party receives an amount equal to the sum it would have received had no such deduction or withholding of Indemnified Taxes been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.2&nbsp;&nbsp;&nbsp;&nbsp;Payment of Other Taxes**

Without duplication of Section 21.1 (*Withholding Tax Gross-Up*) and Section 21.3 (*Indemnification by the Borrower*), the Borrower shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the

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option of the applicable Facility Agent timely reimburse it for the payment of, any Other Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.3&nbsp;&nbsp;&nbsp;&nbsp;Indemnification by the Borrower**

Without duplication of Section 21.1 (*Withholding Tax Gross-Up*) and Section 21.2 (*Payment of Other Taxes*), the Borrower shall indemnify each Finance Party and each Facility Agent (and any of their respective Affiliates), within 20 Business Days after written demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Article 21 (*Tax Gross-Up and Indemnities*)) payable or paid by, or required to be withheld or deducted from a payment to, such Finance Party or Facility Agent (or Affiliate) in connection with a Finance Document, and any reasonable expenses arising therefrom or with respect thereto (but excluding any such amounts resulting from the gross negligence, bad faith or willful misconduct of such Finance Party or Facility Agent (or Affiliate) as determined by a final non-appealable judgment in a court of competent jurisdiction), whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate setting forth in reasonable detail the basis for such claim and the calculation of the amount of any such payment or liability delivered to the Borrower by a Finance Party (with a copy to the relevant Facility Agent), or by a Facility Agent on its own behalf or on behalf of a Finance Party, shall be conclusive absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.4&nbsp;&nbsp;&nbsp;&nbsp;Indemnification by the Facility Lenders**

Each Facility Lender shall severally indemnify its Facility Agent, within 20 Business Days after written demand therefor, for (a) any Indemnified Taxes attributable to such Facility Lender (but only to the extent that the Borrower has not already indemnified such Facility Agent for such Indemnified Taxes and without limiting the obligation of the Borrower to do so), (b) any Taxes attributable to such Facility Lender's failure to comply with the provisions of Section 19.6 (*Transfers by a Facility Lender*) and the relevant Facility Agreement relating to the maintenance of a Participant Register and (c) any Excluded Taxes attributable to such Facility Lender, in each case, that are payable or paid by such Facility Agent in connection with any Finance Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Facility Lender by its Facility Agent shall be conclusive absent manifest error. Each Facility Lender hereby authorizes its Facility Agent to set off and apply any and all amounts at any time owing to such Facility Lender under any Finance Document or otherwise payable by such Facility Agent to the Facility

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Lender from any other source against any amount due to such Facility Agent under this Section 21.4 (*Indemnification by the Facility Lenders*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.5&nbsp;&nbsp;&nbsp;&nbsp;Status of Facility Lenders and Facility Agents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any Facility Lender entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Finance Document shall deliver to the Borrower and its Facility Agent, at the time or times reasonably requested by the Borrower or such Facility Agent, such properly completed and executed documentation reasonably requested by the Borrower or such Facility Agent as shall permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Facility Lender, if reasonably requested by the Borrower or such Facility Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or such Facility Agent as shall enable the Borrower or such Facility Agent to determine whether or not such Facility Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in sub-clauses 21.5(b)(i), 21.5(b)(ii) and 21.5(b)(iv) below) shall not be required if, in the Facility Lender's reasonable judgment, such completion, execution or submission would subject such Facility Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Facility Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Without limiting the generality of the foregoing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any Facility Lender that is a US Person shall deliver to the Borrower and its Facility Agent on or prior to the date on which such Facility Lender becomes a Facility Lender under the relevant Facility Agreement (and from time to time thereafter upon the reasonable request of the Borrower or such Facility Agent) two executed copies of IRS Form W-9 certifying that such Facility Lender is exempt from US federal backup withholding tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any Facility Lender that is not a US Person shall, to the extent it is legally entitled to do so, deliver to the Borrower and its Facility Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Facility Lender becomes a Facility Lender under the relevant Facility Agreement (and from time to time thereafter upon the reasonable request of the Borrower or such Facility Agent) whichever of the following is applicable:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Facility Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Finance Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E (or any successor form) establishing an exemption from, or reduction of, US federal withholding Tax pursuant to the "interest" article of such tax treaty and (y) with respect to any other applicable payments under any Finance Document, IRS Form W-8BEN or IRS Form W-8BEN-E (or any successor form) establishing an exemption from, or reduction of, US federal withholding Tax pursuant to the "business profits" or "other income" article of such tax treaty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;executed copies of IRS Form W-8ECI (or any successor form);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Facility Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate to the effect that such Facility Lender is not a "bank" within the meaning of Section 881(c)(3)(A) of the Code, a "10 percent shareholder" of the Borrower (or, if the Borrower is a disregarded entity for U.S. federal income tax purposes, of its first regarded owner) within the meaning of Section 881(c)(3)(B) of the Code, or a "controlled foreign corporation" described in Section 881(c)(3)(C) of the Code (a "*US Tax Compliance Certificate*") and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E (or any successor form); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;to the extent a Facility Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8EXP, IRS Form W-8ECI, IRS Form W-8BEN or IRS Form W-8BEN-E, a US Tax Compliance Certificate, IRS Form W-9 (or, in each case, any successor form), and/or other certification documents from each beneficial owner, as applicable; *provided* that, if the Facility Lender is a partnership and one or more direct or indirect partners of such Facility Lender are claiming the portfolio interest exemption, such Facility Lender may provide a US Tax Compliance Certificate on behalf of each such direct and indirect partner;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any Facility Lender that is not a US Person shall, to the extent it is legally entitled to do so, deliver to the Borrower and its Facility Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Facility Lender becomes a Facility Lender under the relevant Facility Agreement (and from time to time thereafter upon the reasonable request of the Borrower or such Facility Agent) executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in US federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or such Facility Agent to determine the withholding or deduction required to be made; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;if a payment made to a Facility Lender under any Finance Document would be subject to US federal withholding Tax imposed by FATCA if such Facility Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Facility Lender shall deliver to the Borrower and its Facility Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or such Facility Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or such Facility Agent as may be necessary for the Borrower and such Facility Agent to comply with their obligations under FATCA and to determine whether such Facility Lender has complied with such Facility Lender's obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this sub-clause (iv), "*FATCA*" shall include any amendments made to FATCA after the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Any Facility Agent shall provide on or prior to the date it becomes a party to the Facility Agreement two executed copies of (i) if such Facility Agent is not a US Person, (x) with respect to payments made to such Facility Agent on behalf of a Facility Lender, IRS Form W-8IMY (or any successor form) certifying that it is a "U.S. branch" within the meaning of US Treasury Regulation Section 1.1441-1(b)(2)(iv)(A), with the effect that the Borrower may make payments to the Facility Agent, to the extent such payments are received by the Facility Agent as an intermediary, without deduction or withholding of any taxes imposed by the United States (including under FATCA), and (y) with respect to payments to such Facility Agent for its own account, IRS Form W-8ECI (or other applicable

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IRS Form W-8 establishing full exemption from all United States withholding taxes or any successor form), and (ii) if such Facility Agent is a US Person, IRS Form W-9 (or any successor form) confirming that the Facility Agent is exempt from US federal backup withholding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each Facility Lender and Facility Agent agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the relevant Facility Agent in writing of its legal inability to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.6&nbsp;&nbsp;&nbsp;&nbsp;Refunds**

To the extent that a Facility Lender or its Affiliate determines, in its sole discretion exercised in good faith, that it has obtained a refund or credit (in lieu of a refund) in respect of any Taxes as to which it has been indemnified pursuant to this Article 21 (*Tax Gross-Up and Indemnities*) (including by the payment of additional amounts pursuant to this Article 21 (*Tax Gross-Up and Indemnities*)), the relevant Facility Lender shall pay the Borrower an amount equal to such refund or credit, but only to the extent of indemnity payments made under this Article 21 (*Tax Gross-Up and Indemnities*) with respect to the Taxes giving rise to such refund or credit, and net of costs and expenses (including Taxes) and without interest (other than interest paid by the relevant Governmental Authority with respect to such refund or credit). The Borrower, upon the request of the Facility Lender or its Affiliate, shall repay to the Facility Lender or its Affiliate the amount paid over pursuant to the preceding sentence (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that the Facility Lender or its Affiliate is required to repay such refund or credit to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph, in no event shall the Facility Lender or its Affiliate be required to pay any amount to the Borrower pursuant to this paragraph the payment of which would place the Facility Lender or its Affiliate in a less favorable net after-Tax position than the Facility Lender or its Affiliate would have been in if the Tax subject to indemnification and giving rise to such refund or credit had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require any Facility Lender or its Affiliate to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the Borrower or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.7&nbsp;&nbsp;&nbsp;&nbsp;Evidence of Payments**

As soon as practicable after any payment of Taxes by any Obligor to a Governmental Authority pursuant to this Article 21 (*Tax Gross-Up and Indemnities*), such Obligor shall deliver to the relevant Facility Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing

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such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Facility Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.8&nbsp;&nbsp;&nbsp;&nbsp;Survival**

Each Party's obligations under this Article 21 (*Tax Gross-Up and Indemnities*) shall survive the resignation or replacement of any Facility Agent or any assignment of rights by, or the replacement of, a Facility Lender, the termination of the Facility Debt Commitments and the repayment, satisfaction or discharge of all obligations under any Finance Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.9&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms**

For purposes of this Article 21 (*Tax Gross-Up and Indemnities*):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the term "applicable law" includes FATCA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the term "US Person" means a "United States person" as such term is defined in Section 7701(a)(30) of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the term "Finance Document" does not include any Indenture or Senior Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the term "Governmental Authority" includes any government of a foreign jurisdiction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the term "Facility Agent" includes the Intercreditor Agent and the Collateral Agent, to the extent payments hereunder in respect of Senior Debt Obligations are made to it.

**22.&nbsp;&nbsp;&nbsp;&nbsp;INCREASED COSTS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.1&nbsp;&nbsp;&nbsp;&nbsp;Increased Costs**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If any Change in Law shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Facility Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;subject any Finance Party (or its Affiliates) to any Taxes (other than (x) Indemnified Taxes, (y) Taxes described in clauses (b) through (d) of the definition of Excluded Tax and (z) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;impose on any Facility Lender any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Facility Lender or any letter of credit or participation in any such Loan or letter of credit;

and the result of any of the foregoing shall be to increase the cost to such Finance Party of making, converting to, continuing or maintaining any Loan (or of maintaining its obligation to make any such Loan, or to increase the cost to such Facility Lender of participating in, issuing or maintaining any letter of credit (or of maintaining its obligation to participate in or to issue any letter of credit)), or to reduce the amount of any sum received or receivable by such Finance Party hereunder (whether of principal, interest or any other amount) then, upon request of such Finance Party, the Borrower shall within the time period specified in clause (b) below pay to such Finance Party such additional amount or amounts as shall compensate such Finance Party for such additional costs incurred or reduction suffered (except to the extent the Borrower is excused from payment pursuant to Section 19.5 (*Mitigation Obligations; Replacement of Lenders*) or Section 19.8 (*Resulting Increased Costs*)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If any Facility Lender determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Facility Lender's capital or (without duplication) on the capital of such Facility Lender's holding company, if any, as a consequence of this Agreement, the Facility Debt Commitments of such Facility Lender or the Loans made by such Facility Lender or participations in letters of credit held by such Facility Lender to a level below that which such Facility Lender or such Facility Lender's holding company could have achieved but for such Change in Law (taking into consideration such Facility Lender's policies and the policies of such Facility Lender's holding company with respect to capital adequacy and liquidity), then from time to time upon notice by such Facility Lender, the Borrower shall pay to such Facility Lender within 30 days following the receipt of such notice by the Facility Lender such additional amount or amounts as shall compensate such Facility Lender or (without duplication) such Facility Lender's holding company for any such reduction suffered (except to the extent the Borrower is excused from payment pursuant to Section 19.5 (*Mitigation Obligations; Replacement of Lenders*) or Section 19.8 (*Resulting Increased Costs*)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The applicable Finance Party will deliver to the Borrower (with a copy to the Intercreditor Agent) a certificate setting forth in reasonable detail the amount or amounts necessary to compensate such Finance Party or its holding company, as the case may be, as specified in clauses (a) and (b) above. The Borrower shall pay such Finance Party the amount shown as

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due on any such certificate within 30 days after receipt thereof. Such certificate shall be conclusive absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Failure or delay on the part of any Finance Party to demand compensation pursuant to this Section 22.1 (*Increased Costs*) shall not constitute a waiver of such Finance Party's right to demand such compensation; *provided* that, the Borrower shall not be required to compensate a Finance Party pursuant to this Section 22.1 (*Increased Costs*) for any increased costs or reductions incurred or reductions suffered more than 180 days prior to the date that such Facility Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions, and of such Facility Lender's intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180 day period referred to above shall be extended to include the period of retroactive effect thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provision in this Agreement, no Facility Lender shall demand compensation pursuant to this Article 22 (*Increased Costs*) in respect of the Change in Law arising from the matters described in the proviso to the definition of "Change in Law" if it shall not at the time be the general policy or practice of such Facility Lender, as determined by such Facility Lender, to demand such compensation in similar circumstances under comparable provisions of other credit agreements, if any. For the avoidance of doubt, this clause (e) shall not impose an obligation on a Facility Lender to provide information regarding compensation claimed and/or paid under any other specific loan agreement; *provided* that, such Facility Lender shall, upon request from the Borrower, provide a written confirmation to the Borrower regarding whether it is the general policy or practice of such Facility Lender, as the case may be, to demand such compensation in similar circumstances under comparable provisions of other credit agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.2&nbsp;&nbsp;&nbsp;&nbsp;Relationship Between Increased Costs and Taxes**

Any compensation of a Facility Lender pursuant to Article 21 (*Tax Gross-Up and Indemnities*) shall be made without duplication under this Article 22 (*Increased Costs*) and any compensation of a Facility Lender pursuant to this Article 22 (*Increased Costs*) shall be made without duplication under Article 21 (*Tax Gross-Up and Indemnities*).

**23.&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.1&nbsp;&nbsp;&nbsp;&nbsp;Termination**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Upon the occurrence of the Discharge Date in respect of the Senior Debt Obligations under this Agreement and each Facility Agreement, then,

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subject to reinstatement as provided in clause (c) below, this Agreement shall terminate and the Intercreditor Agent shall, at the expense of the Borrower, execute and deliver a termination statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The obligations of the Facility Lenders to make further disbursements of Loans under their respective Facility Agreements shall terminate in accordance with the applicable Facility Agreement and, in any case, upon the termination of this Agreement, and the Security Interests of such Facility Lenders shall be discharged and released pursuant to Section 12.1 (*Termination*) of the Common Security and Account Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall continue to be effective or be reinstated, as the case may be, if (and only to the extent that) any payment or performance of the obligations of the Borrower hereunder is rescinded, avoided, voidable, liable to be set aside, reduced or otherwise not properly payable to, or must otherwise be returned or restored by the Intercreditor Agent, any Facility Agent, the Collateral Agent or any Facility Lender as a result of (i) Bankruptcy, insolvency, reorganization with respect to the Borrower or the Intercreditor Agent, any Facility Agent, the Collateral Agent or any Facility Lender, (ii) upon the dissolution of, or appointment of any intervenor, conservator, trustee or similar official for the Borrower, the Intercreditor Agent, any Facility Agent, the Collateral Agent or any Facility Lender or for any substantial part of the Borrower's or any other such Person's assets, (iii) as a result of any settlement or compromise with any Person (including the Borrower) in respect of such payment or otherwise, or (iv) any similar event or otherwise and, in such case, the provisions of Section 10.1 (*Nature of Obligations*) of the Common Security and Account Agreement shall apply hereto *mutatis mutandis*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.2&nbsp;&nbsp;&nbsp;&nbsp;Right of Set-Off**

Each Facility Lender, each Facility Agent and the Intercreditor Agent are hereby authorized at any time and from time to time, to the fullest extent permitted by law but subject to any other provision of this Agreement and the Finance Documents, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by such Facility Lender, each Facility Agent or the Intercreditor Agent, as applicable, to or for the credit or the account of any Obligor, as applicable, against the Senior Debt Obligations due and payable to such Facility Lender, such Facility Agent or the Intercreditor Agent, as applicable, at the time of such offset. If the obligations are in different currencies, the Facility Lender, the Facility Agent and the Intercreditor Agent, as applicable, may convert either obligation at a market rate of exchange in its usual course of business for the purposes of the set-off. The rights of each Facility Lender, each Facility Agent and the Intercreditor Agent under this Section 23.2 (*Right of Set-Off*) are in addition to

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other rights and remedies (including other rights of set-off) that such Facility Lender, such Facility Agent and the Intercreditor Agent, as applicable, may have. Each Facility Lender shall notify its respective Facility Agent and the Borrower forthwith upon the exercise or purported exercise of any right of set-off, giving full details in relation thereto, and such Facility Agent shall promptly inform the Intercreditor Agent in writing, who shall inform the other Facility Agents of the same. Any amounts set off by any Facility Lender in accordance with this Section 23.2 (*Right of Set-Off*) or under this Agreement shall be subject to the sharing arrangements set forth in Section 2.3(b) (*Payments and Prepayments – Sharing of Non-Pro Rata Payments*) of the Common Security and Account Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.3&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Immunity**

To the extent that any Party hereto has or hereafter may acquire, or be entitled to claim for itself or its assets, any immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment in aid of execution, execution or otherwise) with respect to itself or its assets, it shall irrevocably agree not to claim and hereby irrevocably waives such immunity in respect of its obligations under the Finance Documents to which it is a party and all other documents to be executed and delivered in connection with the Finance Documents to which it is a party and the transactions contemplated thereby and, without limiting the generality of the foregoing, hereby agrees that the waivers set forth in this Section 23.3 (*Waiver of Immunity*) shall be effective to the fullest extent permitted under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.4&nbsp;&nbsp;&nbsp;&nbsp;Expenses**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall pay to the Intercreditor Agent or a Facility Agent, as the case may be, within 30 days of demand (such demand being made together with copies of invoices and reasonable supporting evidence of the nature and amount of such costs), without duplication in respect of indemnity and/or reimbursement required under any other Finance Document:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to the extent such expenses have not been paid by the Borrower from the proceeds of the first disbursement of Loans pursuant to Section 4.1(p) (*Conditions to Closing Date and Initial Advance – Fees; Expenses*), the amount of all reasonable costs and expenses (including reasonable legal fees and expenses and excluding fees of Consultants, which shall be exclusively governed by Section 13.2 (*Replacement and Fees*)) incurred by any Facility Lender, Facility Agent or the Intercreditor Agent in connection with the negotiation, preparation, printing, execution and/or syndication of the Finance Documents to which it is a party, based upon fee parameters (if any, including the terms of the party's applicable engagement or commitment letter, or Facility Agreement, as the

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case may be) agreed between the Borrower and the relevant parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the amount of all reasonable costs and expenses (including reasonable legal fees and expenses and excluding fees of Consultants, which shall be exclusively governed by Section 13.2 (*Replacement and Fees*)) incurred by any Facility Lender, Facility Agent or the Intercreditor Agent in connection with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the negotiation, preparation and execution of any Finance Document executed after the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;any amendment, waiver or consent requested by or on behalf of the Borrower or specifically allowed by this Agreement, whether or not granted; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;the exercise of its powers and the performance of its duties under this Agreement and any other Finance Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the amount of all costs and expenses (including legal fees and expenses and excluding fees of Consultants, which shall be exclusively governed by Section 13.2 (*Replacement and Fees*)) incurred by any Facility Lender, Facility Agent or the Intercreditor Agent in connection with the enforcement or preservation of any rights under any Finance Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Facility Lenders, the Facility Agents and the Intercreditor Agent, as applicable, shall inform the Borrower on a regular basis of the ongoing costs and expenses referred to in clause (a) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in this Section 23.4 (*Expenses*), the Facility Lenders, Facility Agents and the Intercreditor Agent shall only be entitled to the reimbursement of legal fees and expenses for the use of only one law firm engaged for all of the Facility Lenders, the Facility Agents and the Intercreditor Agent in each relevant jurisdiction unless one or more of the Facility Lenders, the Facility Agents or the Intercreditor Agent incurring such fees and expenses reasonably believes that there is a reasonable likelihood of a conflict of interest between any of them (the existence of which shall be notified to the Borrower) necessitating the use of more than one law firm in any such jurisdiction, in which case the fees and expenses of one additional firm in each relevant jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in this Section 23.4 (*Expenses*), payment of expenses by the Borrower hereunder to be made to only a certain specified Facility Lender or Facility Lenders shall be received by

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the Intercreditor Agent or the relevant Facility Agent solely for the benefit of such Facility Lender or Facility Lenders, and the Borrower shall also be permitted to make the payment directly to such Facility Lender or Facility Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;This Section 23.4 (*Expenses*) shall not apply to Taxes, which shall be governed exclusively by Article 21 (*Tax Gross-Up and Indemnities*) and Article 22 (*Increased Costs*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.5&nbsp;&nbsp;&nbsp;&nbsp;Calculation of Floating Rate Obligations**

In calculating amounts to be calculated under this Agreement, other than any interest payable on Senior Debt Obligations on which interest is payable at a floating rate of interest, if a floating rate is not known for the entire period, the floating rate to be used shall be reasonably estimated by the Borrower at the time of determination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.6&nbsp;&nbsp;&nbsp;&nbsp;Severability**

Any term or provision of this Agreement or the application thereof to any circumstance that is illegal, invalid, prohibited or unenforceable (to any extent) in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such illegality, invalidity, prohibition or unenforceability without invalidating or rendering unenforceable the remaining terms or provisions hereof or the application of such term or provision to circumstances other than those to which it is held illegal, invalid, prohibited or unenforceable. Any such illegality, invalidity, prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such term or provision in any other jurisdiction and the Parties hereto shall enter into good faith negotiations to replace the invalid, illegal, prohibited, or unenforceable term or provision with a view to obtaining the same commercial effect as this Agreement would have had if such term or provision had been legal, valid, and enforceable. To the extent permitted by applicable laws, the Parties hereto waive any provision of law that renders any term or provision of this Agreement illegal, invalid, prohibited or unenforceable in any respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.7&nbsp;&nbsp;&nbsp;&nbsp;Confidentiality**

The provisions of Section 12.6 (*Confidentiality*) of the Common Security and Account Agreement are incorporated by reference and shall apply *mutatis mutandis* as if fully set forth herein. For the avoidance of doubt, nothing herein prohibits any individual from communicating or disclosing information regarding suspected violations of laws, rules, or regulations to a governmental, regulatory, or self-regulatory authority.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.8&nbsp;&nbsp;&nbsp;&nbsp;Notices**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and other communications provided for herein shall be in writing in the English language (or, if not available in the English language, accompanied by an English language translation of such document) and shall be delivered by hand or overnight courier service, mailed by certified or registered mail, sent by email to the address, and/or email address of the Party to whom notice is being sent set forth below or on the Register maintained by the Facility Agent under each Facility Agreement in accordance with Section 19.7 (*Register*), which Register may, at each Facility Lender's election, include email addresses for such Facility Lender:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;with respect to the Obligors, the corresponding address and other notice information set forth in Schedule Q – 1 (*Addresses for Notices to Obligors*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;with respect to each Facility Lender and Facility Agent, to the corresponding address and other notice information set forth in Schedule Q – 2 (*Addresses for Notices to Facility Agents and Facility Lenders*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;with respect to the Intercreditor Agent, to:

MUFG Bank, Ltd., as Intercreditor Agent<br>1221 Avenue of the

Americas, 6th Floor

New York, NY 10020 <br>Attention: [\*\*\*] <br>Facsimile: [\*\*\*] <br>Email: [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Any notice, demand, consent or approval or communication given electronically by the Intercreditor Agent in connection with a Finance Document may be given to any Finance Party that has expressly agreed that it shall accept communication of information by this method by means of the Debt Domain Website, access to which is restricted to the parties to the Finance Documents, or by other electronic means in a manner and subject to rules established by the Intercreditor Agent and agreed with the Borrower; *provided* that, the Intercreditor Agent may set access protocols as reasonably needed to communicate confidentially with the other Secured Parties at its sole discretion.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Any Party may change its address, fax number or email address for notices and other communications hereunder by notice to the other Parties. All notices and other communications given to any Party in accordance with the provisions of this Agreement shall be deemed to have been received: (i) in the case of a letter, when delivered personally or five days after it has been put into the post; (ii) in the case of a fax, when a complete and legible copy is received by the addressee; (iii) in the case of email, upon receipt by the sender of a return receipt message (*provided* that, in the case of sub-clause (ii) above and this sub-clause (iii), if the date of dispatch is not a Business Day or the time of dispatch is after 5:00 pm in the location of dispatch, it shall be deemed to have been received no earlier than the opening of business on the next Business Day); and (iv) in the case of a notice contemplated by clause (b) above, on the later of (x) a notice being posted on the Debt Domain Website and (y) receipt by the Intercreditor Agent of a return receipt message in respect of an email the Intercreditor Agent has sent to the relevant Party's email address (as notified to the Intercreditor Agent in writing at least five days before any email is sent by the Intercreditor Agent or notice posted on the Debt Domain Website) notifying such Party that the notice has become available on the Debt Domain Website.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Communication by one Party to any other Party may, at the election of each such Party, be by electronic mail. For the purpose of the Finance Documents, an electronic communication will be treated as being in writing. Inclusion of an email address or addresses in the notice details for a Party shall indicate that such Party elects to receive and send communications by email subject to any particular requirements relating thereto of which it has notified each other Party. The absence of the notification of an email address shall indicate that such Party does not elect to receive or send communication by email, and any email communication to it shall be deemed not to have been delivered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;In the event of any change in the identity of any of the authorized officers of the Obligors referred to in the documentary evidence provided for pursuant to Section 4.1(k) (*Conditions to Closing Date and Initial Advance – Bank Regulatory Requirements*) and Section 4.1(l) (*Conditions to Closing Date and Initial Advance – Officer's Certificates*), the relevant Obligor shall promptly notify the Intercreditor Agent in writing of such change and, at the same time, furnish to the Intercreditor Agent certified signature specimen(s) in respect of the relevant Obligor's new authorized officer(s). The Finance Parties may rely upon and refer to certified signature specimen(s) previously received by the Intercreditor Agent until such time as the Intercreditor Agent receives notice from the relevant Obligor of such change and the relevant certified signature specimen(s) to be furnished in connection therewith.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Obligors and the other Parties to this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;consents to the inclusion in the Debt Domain Website of its name, its logo and a link to its website, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;acknowledges that the Intercreditor Agent shall issue user identifiers, passwords and other information necessary for access to the Debt Domain Website ("*Access Information*") to the Borrower and the other Parties to this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;undertakes to ensure that all Access Information issued to it by the Intercreditor Agent is kept secure and confidential in accordance with Section 12.6 (*Confidentiality*) of the Common Security and Account Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;acknowledges that the Debt Domain Website is provided "as is" and "as available" and that the Intercreditor Agent does not warrant the accuracy or completeness of the communications or the adequacy of the Debt Domain Website and expressly disclaims liability for errors or omissions in the communications;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;acknowledges that no warranty of any kind, express implied or statutory, including any warranty of merchantability, fitness for a specific purpose, non-infringement of third party rights or freedom from viruses or other code defects, is made by the Intercreditor Agent in connection with the communications or the Debt Domain Website; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;agrees that neither the Intercreditor Agent nor any of its officers, directors, employees, agents, advisors or representatives is liable for damages of any kind, including direct or indirect, special, incidental or consequential, or any losses or expenses (whether in tort, contract or otherwise) incurred or suffered by it or any other Person as a result of its access or use of the Debt Domain Website or inability to access or use the Debt Domain Website (other than for its own gross negligence, fraud or willful misconduct as determined by a court of competent jurisdiction in a final and non-appealable judgment).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.9&nbsp;&nbsp;&nbsp;&nbsp;Successors and Assigns; Benefits of Agreement**

This Agreement shall be binding upon and inure to the benefit of each of the Parties hereto (and the Facility Lenders claiming through the Parties hereto) and their subsequent respective permitted successors, permitted transferees and permitted assigns, and nothing in this Agreement, in any Senior Debt Instrument, in any Permitted Senior Debt Hedging Instrument, or in any other Finance

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Document, express or implied, shall give to any other Person any benefit or any legal or equitable right or remedy under this Agreement (other than the Parties hereto, their respective successors, transferees and assigns permitted hereby and, to the extent expressly contemplated thereby, the shareholders, members, partners, directors, officers, employees and agents of each of the Intercreditor Agent, Facility Agents, Facility Lenders and other indemnitees under Article 21 (*Tax Gross-Up and Indemnities*)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.10&nbsp;&nbsp;&nbsp;&nbsp;Remedies**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Other than as stated expressly herein, no remedy under this Agreement or any other Finance Document conferred on any Finance Party is intended to be exclusive of any other remedy, and each and every such remedy shall be cumulative and shall be in addition to every other remedy given under the Finance Documents, or now or hereafter existing at law or in equity or by statute or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The amounts payable by the Borrower at any time under this Agreement or any other Finance Document shall each be a separate and independent debt and each Finance Party, except as otherwise specifically provided in this Agreement or any other Finance Document, shall be entitled to protect and enforce its rights arising out of this Agreement or any other Finance Document, and its right, pursuant to this Agreement including any applicable Facility Agreements, to cancel or suspend its commitment to provide Senior Debt Obligations and to accelerate the maturity of amounts due under its Facility Agreement, and, except as aforesaid, it shall not be necessary for any other Finance Party to consent to, or be joined as an additional party in, any proceedings for such purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise specifically provided in this Agreement or any other Finance Document, no failure on the part of any Finance Party to exercise and no delay in exercising, and no course of dealing with respect to, any right, power or privilege under this Agreement or any other Finance Document, shall operate as a waiver thereof nor shall any single or partial exercise of any right, power or privilege under any such document preclude any other or further exercise thereof or the exercise of any other right, power or privilege. No Finance Party shall be responsible for the failure of any other Finance Party to perform its obligations hereunder or under any Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;In case any Facility Lender or the Collateral Agent or the Intercreditor Agent on behalf of the Senior Creditors shall have proceeded to enforce any right, remedy or power under and in accordance with this Agreement or any Finance Document and the proceeding for the enforcement thereof shall have been discontinued or abandoned for any reason or shall have been determined adversely to such Facility Lender, then and in every such

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case the relevant Obligor and the Facility Lender shall, subject to any effect of or determination in such proceeding, severally and respectively be restored to their former positions and rights hereunder and under the Finance Documents, and thereafter all rights, remedies and powers of the Facility Lenders shall continue as though no such proceeding had been taken.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The rights of each Facility Lender:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;may be exercised as often as necessary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;are cumulative and not exclusive of its rights under general law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;may be waived only in writing and specifically.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The undertakings by, and the obligations of, the Obligors set forth in this Agreement or in the Finance Documents are for the benefit of the Secured Parties alone, in accordance with the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.11&nbsp;&nbsp;&nbsp;&nbsp;Execution in Counterparts; E-Signature**

This Agreement may be executed in any number of counterparts and by the different Parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all the counterparts shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement in electronic format (*e.g.*, "pdf" or "tif") shall be effective as delivery of a manually executed counterpart of this Agreement. The words "execution", "execute", "signed", "signature", and words of like import in or related to any document signed or to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the parties hereto, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.12&nbsp;&nbsp;&nbsp;&nbsp;Governing Law**

THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.13&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Jury Trial**

**EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE FINANCE DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREBY.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.14&nbsp;&nbsp;&nbsp;&nbsp;Consent to Jurisdiction**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All Parties to this Agreement, as contemplated by Section 23.12 (*Governing Law*), shall consent to the exclusive jurisdiction of the courts of the State of New York or of the United States of America for the Southern District of New York (except as otherwise specifically provided herein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Party hereto:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;hereby irrevocably consents and agrees for the benefit of the Facility Lenders that the federal or state courts in the Borough of Manhattan, the City of New York shall have jurisdiction over any legal action, suit or proceeding against it with respect to its obligations, liabilities or any other matter under or arising out of, or in connection with, this Agreement and the Loans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;irrevocably waives any objection it may now or hereafter have to the laying of venue of any action or proceeding in any such court and any claim it may now or hereafter have that any action or proceeding has been brought in an inconvenient forum; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;irrevocably consents and agrees that the submission to the jurisdiction of the federal or state courts in the Borough of Manhattan, the City of New York shall not limit the rights of the Facility Lenders to bring any action or proceeding in any other court of competent jurisdiction nor shall the bringing of any action or the taking of any proceedings in any other jurisdiction (whether concurrently or not) limit such rights, in each case, to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.15&nbsp;&nbsp;&nbsp;&nbsp;Amendments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise expressly provided in this Agreement (including as provided in clause (b) below), this Agreement may be amended, modified or supplemented only by an agreement in writing signed by the Borrower, the Guarantors and the Intercreditor Agent on behalf of each Facility Agent (with copies to each Facility Agent). Except as otherwise expressly

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provided in the relevant agreement or document, no waiver or consent of any term or condition of this Agreement or any other Finance Document in favor of the Borrower or any Guarantor or any other Party hereto or thereto by any Facility Lender, its Facility Agent or the Intercreditor Agent may be given or granted by such parties except in accordance with the Intercreditor Agreement. The Facility Lenders may not agree to amend, modify or supplement this Agreement except in accordance with the Intercreditor Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The written agreement contemplated in clause (a) above shall not be required:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;[reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;for a successor Intercreditor Agent to accede to this Agreement in accordance with Section 18.7 (*Resignation and Succession*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;for a replacement Facility Agent to accede to this Agreement in accordance with Section 19.3 (*Replacement of Facility Agents*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;for a new Facility Agent to accede to this Agreement in accordance with Section 19.4 (*Accession in the Event of Additional Senior Debt Incurred Under the Common Terms Agreement*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;to make entries on Schedule Q – 1 (*Addresses for Notices to Obligors*) to update any notification addresses of any Party therein or to amend the description of the relevant Obligor's authorized and issued equity capital and name and ownership interest of the Borrower's member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;to update Schedule F (*Material Permits*) in accordance with the provisions of Section 10.4(b)(xi) (*Construction Reports*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;to the extent the Borrower pursues and satisfies the conditions for Project Phase 2 Development Debt (as certified by the Borrower and the Independent Engineer, as appropriate), and the Intercreditor Agent (without the consent of any other Secured Party) shall be required to amend the Finance Documents with the Borrower to facilitate the incurrence of such Project Phase 2 Development Debt (including, for example, opening of additional ancillary bank accounts) so long as (A) the conditions for Project Phase 2 Development Debt, have been satisfied (or waived by the Requisite Intercreditor Parties) in accordance with Section 6.4 (*Project Phase 2 Development Debt*), and (ii) any such amendments are mechanical in nature and consistent with the changes to the Common Terms Agreement for phase 1 of the

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Venture Global Plaquemines LNG project that were required for phase 2 of such project; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;to update Schedule U (*Real Property Documents*) to reflect new or amended Real Property Documents referenced in clause (i) of the definition thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.16&nbsp;&nbsp;&nbsp;&nbsp;Conflicts**

In case of any conflict or inconsistency between the main body of this Agreement and any Facility Agreements (including any promissory note delivered thereunder), this Agreement shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.17&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness**

This Agreement shall come into full force and effect on the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.18&nbsp;&nbsp;&nbsp;&nbsp;Limitations on Liability**

No claim shall be made by any Party hereto or any of their respective Affiliates against any other Party hereto or any of their Affiliates, directors, employees, attorneys or agents for any special, indirect, consequential or punitive damages (whether or not the claim therefor is based on contract, tort or duty imposed by law), in connection with, arising out of or in any way related to the transactions contemplated by this Agreement or the other Finance Documents, Material Project Agreements or any act or omission or event occurring in connection therewith; and each Party hereby waives, releases and agrees not to sue upon any such claim for any such damages, whether or not accrued and whether or not known or suspected to exist in its favor; *provided* that, this Section 23.18 (*Limitations on Liability*) shall not be construed to relieve any Obligor of any obligation it may otherwise have hereunder or under any Finance Document to indemnify any Secured Party or any applicable Related Party against any claim, cost, loss, expense (including reasonable legal fees and expenses), damage or liability, sustained or incurred by or asserted against such Secured Party or Related Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.19&nbsp;&nbsp;&nbsp;&nbsp;Survival of Obligations**

The provisions of Article 21 (*Tax Gross-Up and Indemnities*), Section 22.1 (*Increased Costs*), Section 23.3 (*Waiver of Immunity*), Section 23.4 (*Expenses*), Section 23.7 (*Confidentiality*), Section 23.8 (*Notices*), Section 23.9 (*Successors and Assigns*; *Benefits of Agreement*), Section 23.12 (*Governing Law*), Section 23.13 (*Waiver of Jury Trial*), Section 23.14 (*Consent to Jurisdiction*), Section 23.16 (*Conflicts*) and this Section 23.19 (*Survival of Obligations*) shall survive the termination of this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.20&nbsp;&nbsp;&nbsp;&nbsp;No Fiduciary Duty**

Each Finance Party and its respective Affiliates (collectively, solely for purposes of this Section 23.20 (*No Fiduciary Duty*) and in their capacity as a Finance Party, the "*Lenders*") may have economic interests that conflict with those of the Borrower, any Guarantor, the Sponsor or any of their Affiliates. The Obligors on behalf of themselves, the Sponsor, and any Affiliate thereof respectively agree that nothing in the Finance Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Lender, on the one hand, and any of the Borrower, any Guarantor, or the Sponsor or their Affiliates, on the other hand. The Obligors acknowledge and agree that (i) the transactions contemplated by the Finance Documents (including the exercise of rights and remedies hereunder and thereunder) are arm's-length commercial transactions between the Facility Lenders, on the one hand, and the relevant Obligors, on the other hand, and (ii) in connection therewith and with the process leading thereto, (x) no Lender has assumed an advisory or fiduciary responsibility in favor of the Borrower, any Guarantor, the Sponsor or any of their Affiliates with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender has advised, is currently advising or shall advise the Borrower, any Guarantor, the Sponsor or any of their Affiliates on other matters) or any other obligation of the relevant Obligor except the obligations expressly set forth in the Finance Documents and (y) each Facility Lender is acting solely as principal and not as the agent or fiduciary of the Borrower, any Guarantor, the Sponsor or any of their Affiliates or any other Person. Each of the Obligors acknowledges and agrees that it has consulted its own legal and financial advisors to the extent it deemed appropriate and that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. Each of the Obligors agrees that it shall not claim that any Lender has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to the respective Obligor, in connection with such transactions or the process leading thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.21&nbsp;&nbsp;&nbsp;&nbsp;USA Patriot Act Notice**

Each Facility Lender that is subject to the requirements of the USA Patriot Act, each Facility Agent (for itself and not on behalf of any Facility Lender) and the Intercreditor Agent (for itself and not on behalf of any Facility Lender) hereby notifies each Obligor that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that identifies each Obligor, which information includes the name, taxpayer identification number and business address of each Obligor and other information that shall allow such Facility Lender, Facility Agent or the Intercreditor Agent, as applicable, to identify each Obligor in accordance with the USA Patriot Act.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.22&nbsp;&nbsp;&nbsp;&nbsp;Limited Recourse**

Subject to clause (b) below, each Secured Party that is a party hereto acknowledges and agrees that the obligations of the Obligors and the Pledgor under this Agreement and the other Finance Documents, including with respect to the payment of the principal of or premium or penalty, if any, or interest on any Senior Debt Obligations, or any part thereof, or for any claim based thereon or otherwise in respect thereof or related thereto, are obligations solely of the Obligors and the Pledgor (as applicable) and shall be satisfied solely from the security and assets of the Obligors and the Pledgor and shall not constitute a debt or obligation of Affiliates of Borrower (other than the other Obligor or the Pledgor), nor of any past, present or future shareholders, partners, members, directors, officers, employees, agents, attorneys or representatives of the Obligors and their Affiliates (collectively (but excluding the Obligors and the Pledgor), the "*Non-Recourse Parties*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Secured Party that is a party hereto acknowledges and agrees that, subject to clause (b) below, the Non-Recourse Parties shall not be liable for any amount payable under this Agreement or any other Finance Document, and no Secured Party shall seek a money judgment or deficiency or personal judgment against any Non-Recourse Party for payment or performance of any obligation of the Obligors under this Agreement or the other Finance Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The acknowledgments, agreements and waivers set out in this Section 23.22 (*Limited Recourse*) shall be enforceable by any Non-Recourse Party and are a material inducement for the execution of this Agreement and the other Finance Documents by the Obligors; *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the foregoing provisions of this Section 23.22 (*Limited Recourse*) shall not constitute a waiver, release or discharge of either Obligor or the Pledgor for any of the Indebtedness or Senior Debt Obligations of either Obligor or the Pledgor under, or any terms, covenants, conditions or provisions of, this Agreement or any other Finance Document to which any of the foregoing are party, and the same shall continue until fully and paid, discharged, observed or performed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the foregoing provisions of this Section 23.22 (*Limited Recourse*) shall not limit or restrict the right of any Secured Party to name Borrower, any Guarantor, the Pledgor or any other Person as defendant in any action or suit for a judicial foreclosure or for the exercise of any other remedy under or with respect to this Agreement, any of the Security Documents or any other Finance Document to which such Person is a party, or for injunction or specific performance, so long as no judgment in the nature of a

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deficiency judgment shall be enforced against any Non-Recourse Party out of any property other than the property of Borrower, any Guarantor, the Pledgor, or the Collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the foregoing provisions of this Section 23.22 (*Limited Recourse*) shall not in any way limit, reduce, restrict or otherwise affect any right, power, privilege or remedy of the Secured Parties (or any permitted assignee or beneficiary thereof or successor thereto) with respect to, and each and every Person (including each and every Non-Recourse Party) shall remain fully liable to the extent that such Person would otherwise be liable for its own actions with respect to, any fraud, bad faith, gross negligence or willful misrepresentation, or willful misappropriation of revenues or any other earnings, rents, issues, profits or proceeds from or of Borrower, any Guarantor, the Pledgor, the Project Facilities or the Collateral that should or would have been paid as provided in the Finance Documents or paid or delivered to the Collateral Agent (or any assignee or beneficiary thereof or successor thereto) for any payment required under this Agreement or any other Finance Document; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;nothing contained herein shall limit the liability of: (x) any Person who is a party to any Finance Document, Material Project Agreement or Security Document or (y) any Person rendering a legal opinion pursuant to Article 4 (*Conditions Precedent)* of this Agreement or otherwise, in each case under this clause (iv) relating solely to such liability of such Person as may arise under such referenced agreement, instrument or opinion.

The limitations on recourse set forth in this Section 23.22 (*Limited Recourse*) shall survive the Discharge Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.23&nbsp;&nbsp;&nbsp;&nbsp;Entire Agreement**

This Agreement (including Schedules), the Security Documents and the other Finance Documents (together with any other agreements or documents referred to or incorporated by reference therein) constitute the entire agreement and understanding, and supersede all prior agreements and understandings (both written and oral), between or among any of the Parties hereto relating to the transactions contemplated hereby or thereby other than any such agreements and undertakings contained in any commitment letter or fee letter related to the Loans stated expressly to survive the execution and delivery of this Agreement, among the Borrower, on the one hand, and the Facility Lenders, on the other hand.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.24&nbsp;&nbsp;&nbsp;&nbsp;Tax Treatment**

Each party hereto agrees (a) that the Loans are intended to be treated as debt for U.S. federal income tax purposes, and (b) to report the Loans on their U.S. federal income tax returns in a manner consistent with this Section 23.24 (*Tax Treatment*) unless otherwise required pursuant to a "determination" within the meaning of Section 1313(a) of the Code.

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

**VENTURE GLOBAL CP2 LNG, LLC**,

as the Borrower

By: <u>/s/ Jonathan W. Thayer&nbsp;&nbsp;&nbsp;&nbsp;</u><br>&nbsp;&nbsp;&nbsp;&nbsp;Name: Jonathan W. Thayer&nbsp;&nbsp;&nbsp;&nbsp;<br>&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Financial Officer

**VENTURE GLOBAL CP EXPRESS, LLC**,

as a Guarantor

By: <u>/s/ Jonathan W. Thayer&nbsp;&nbsp;&nbsp;&nbsp;</u><br>&nbsp;&nbsp;&nbsp;&nbsp;Name: Jonathan W. Thayer&nbsp;&nbsp;&nbsp;&nbsp;<br>&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Financial Officer

**CP2 PROCUREMENT, LLC**,&nbsp;&nbsp;&nbsp;&nbsp;

as a Guarantor

By: <u>/s/ Jonathan W. Thayer&nbsp;&nbsp;&nbsp;&nbsp;</u><br>&nbsp;&nbsp;&nbsp;&nbsp;Name: Jonathan W. Thayer&nbsp;&nbsp;&nbsp;&nbsp;<br>&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Financial Officer

*[Signature Page to Common Terms Agreement]*

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**MUFG BANK, LTD.**,<br>as Intercreditor Agent<br>By: &nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Lawrence Blat&nbsp;&nbsp;&nbsp;&nbsp;</u><br>&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;&nbsp;&nbsp;Lawrence Blat<br>&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*[Signature Page to Common Terms Agreement]*

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**MUFG BANK, LTD.**,<br>as Credit Facility Agent<br>By: &nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Lawrence Blat&nbsp;&nbsp;&nbsp;&nbsp;</u><br>&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;&nbsp;&nbsp;Lawrence Blat<br>&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory

*[Signature Page to Common Terms Agreement]*

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**SCHEDULE A**

**COMMON DEFINITIONS AND RULES OF INTERPRETATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1&nbsp;&nbsp;&nbsp;&nbsp;Amendments**

No amendment to any definition or rule of interpretation in this schedule shall be effective for purposes of any individual Finance Document unless such amendment has complied with the requirements for amendments to that Finance Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2&nbsp;&nbsp;&nbsp;&nbsp;Interpretation**

In this Agreement and in the Appendices, Exhibits and Schedules hereto, except to the extent that the context otherwise requires:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the **Table of Contents** and headings are for convenience only and shall not affect the interpretation of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;unless otherwise specified, references to Articles, Sections, clauses, Appendices, Exhibits and Schedules are references to Articles, Sections and clauses of, and Appendices, Exhibits and Schedules to, this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;references to any document or agreement shall be deemed to include references to such document or agreement as amended (however fundamentally), supplemented or replaced from time to time in accordance with its terms and (where applicable) subject to compliance with the requirements set forth herein and therein; *provided* that, with respect to any references to the Equator Principles, such references shall be deemed to refer to such documents in effect as of the Closing Date, without regard to any amendments, supplements or replacements thereof after such date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;references to any party to this Agreement or any other document or agreement shall include its successors and permitted transferees and assigns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;an "*authorization*" includes an authorization, consent, approval, resolution, license, exemption, filing, registration and notarization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;a "*month*" is a reference to a period starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month, except that, if there is no numerically corresponding day in the month in which that period ends, that period shall end on the last day in that month;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;words importing the plural include the singular and vice versa;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the words "*include*", "*includes*" and "*including*" shall be deemed to be followed by the phrase "*without limitation*";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;the word "*will*" shall be construed to have the same meaning and effect as the word "*shall*";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;"*law*" shall be construed as any law (including common or customary law), statute, constitution, decree, judgment, treaty, regulation, directive, by-law, order, ordinance or any other legislative measure of any government, supranational, local government, statutory or regulatory body or court, in each case having the force of law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;unless as otherwise provided, any reference to assignment of a person's rights and/or obligations shall be construed to refer to assignment, transfer or novation of those rights and/or obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;any reference to the actions or omissions of agents, representatives or authorized persons shall refer only to actions or omissions taken in connection with the agency, representation or authorization (so that, for example, an action or omission of a contractor for any Obligor shall be the action of an agent, representative or authorized person of the Obligors only if taken in connection with the performance of its work under its contract with any Obligor involving work related to the Development, and shall not be the action or omission of an agent, representative or authorized person of the Obligors if taken under another contract with persons other than the Obligors involving work unrelated to the Development);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;the omission of the word "*any*" or the phrase "*if any*" with respect to anything shall not imply that the thing exists or is required, notwithstanding the inclusion of such word or phrase (for clarity) in other provisions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;any reference to an action being taken "*pursuant to*" an agreement or document, or any specified provision thereof, shall be construed to mean "pursuant to and in compliance with" the requirements of such agreement, document or provision;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;in some instances, a word or reference that, pursuant to these rules of interpretation, is not necessary (for example, inclusion of both the singular and plural), may be included for emphasis or clarity, and any such usage shall not give rise to any negative implication in relation to any other

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usage, which other usage shall nonetheless be interpreted strictly in accordance with the rules of interpretation set forth herein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;unless the contrary indication appears, a reference to a time of day is a reference to the time of day in New York, New York, United States; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;the words "*hereof*", "*herein*", "*hereto*" and "*hereunder*" and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3&nbsp;&nbsp;&nbsp;&nbsp;Definitions**

"*1.30x Sizing LNG SPAs*" means, collectively: [\*\*\*]

"*1.70x Sizing LNG SPAs*" means, collectively: [\*\*\*]

"*Abandonment*" means any of the following shall have occurred:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the abandonment, suspension or cessation of all or substantially all of the activities related to the Development or the abandonment, suspension or cessation of operations of the Project Facilities, in each case, for a period in excess of 60 consecutive days (other than as a result of force majeure so long as the Borrower is diligently attempting to restart the Development or the Project Facilities); *provided* that, if this is not accompanied by a formal, public announcement by the Borrower of its intentions as set forth in clause (b) below, such abandonment, suspension or cessation shall not have occurred unless, within 45 days following notice to the Borrower from the Collateral Agent (who may be instructed by any Senior Creditor Group to deliver such notice) requesting the Borrower to deliver a certificate to the effect that it will resume construction or operation as soon as is commercially reasonable, the Borrower has not delivered such certificate or resumed such activities or, if such certificate is delivered, the Borrower has nevertheless not resumed such activities within 90 days following receipt of the notice from the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a formal, public announcement by the Borrower of a decision to abandon, cease or indefinitely defer or suspend the Development for any reason; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall make any filing with FERC giving notice of the intent or requesting authority to abandon the Development for any reason.

"*Acceptable Bank*" means a bank or financing entity whose (or whose parent company or guarantor in respect of the relevant letter of credit) long-term unsecured and unguaranteed debt is rated at least A3 by Moody's and at least A- by S&P.

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"*Acceptable Credit Support*" means (a) an irrevocable, standby letter of credit issued by an Acceptable Bank for the benefit of the Collateral Agent that (i) includes an expiration date no earlier than three hundred sixty-four (364) days following its issuance date and (ii) allows the Collateral Agent to make a drawdown of up to the stated amount (A) in the event of an Event of Default, (B) in the event such letter of credit is expiring within thirty (30) days or (C) as specified in the Common Security and Account Agreement or any other Finance Document, or (b) an unconditional payment guarantee provided for the benefit of the Collateral Agent by a Person that has a credit rating of at least Investment Grade and that allows the Collateral Agent to make a demand up to the maximum available face amount (A) in the event of an Event of Default, (B) in the event such letter of credit is expiring within thirty (30) days or (C) as specified in the Common Security and Account Agreement or any other Finance Document.

"*Acceptable Debt Service Reserve LC*" means an irrevocable, standby letter of credit issued by an Acceptable Bank for the benefit of the Collateral Agent that includes the following material terms:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;an expiration date no earlier than 364 days following its issuance date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;allows the Collateral Agent to make a drawdown of up to the stated amount in each of the circumstances described in Section 4.9(d) (*Acceptable Debt Service Reserve LC*) of the Common Security and Account Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the reimbursement and other payment obligations with respect to such letter of credit are not for the account of any Obligor.

"*Acceptable Lender*" means any Sponsor or its Affiliate or a bank, financial institution, multilateral agency, development financial institution, trust, Approved Fund, insurance company, investment or mutual fund or other entity that is an "accredited investor" (as defined in Regulation D under the Securities Act) or any Senior Creditor (other than the Senior Noteholders that are not otherwise Acceptable Lenders) or any Affiliate of a Facility Lender or any other entity or Person, that in each case is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (including credit derivatives) in the ordinary course of business; *provided* that, in the case of trusts and funds that are not Approved Funds, such entity shall be experienced in the financing of energy and natural resource projects; *provided further* that, no Disqualified Institution shall be an "Acceptable Lender" hereunder.

"*Access Information*" has the meaning given in Section 23.8(f)(ii) (*Notices*) of the Common Terms Agreement.

"*Access License Agreements*" mean:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Access License Agreement, dated as of May 22, 2025, by and between Cameron Land Ventures, LLC, as grantor, and the Borrower, as grantee (Parcel L);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Access License Agreement, dated as of May 22, 2025, by and between CP Marine Offloading, LLC, as grantor, and the Borrower, as grantee (Parcel N);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Access License Agreement, dated as of May 22, 2025, by and between CP Marine Offloading, LLC, as grantor, and the Borrower, as grantee (Parcel K);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Access License Agreement, dated as of May 22, 2025, by and between CP Marine Offloading, LLC, as grantor, and the Borrower, as grantee (Parcel M);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Access License Agreement, dated as of May 22, 2025, by and between CP Marine Offloading, LLC, as grantor, and the Borrower, as grantee (Parcel F-1);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Access License Agreement, dated as of May 22, 2025, by and between CP Marine Offloading, LLC, as grantor, and the Borrower, as grantee (Parcel I);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Access License Agreement, dated as of May 22, 2025, by and between CP Marine Offloading, LLC, as grantor, and the Borrower, as grantee (Parcel BB);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Access License Agreement, dated as of May 22, 2025, by and between CP Marine Offloading, LLC, as grantor, and the Borrower, as grantee (Parcel J); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Access License Agreement, dated as of May 22, 2025, by and between Cameron Land Ventures, LLC, as grantor, and the Borrower, as grantee (Parcel Z).

"*Accession Agreement*" means any accession agreement contemplated under the Finance Documents, the form of which is included in either Schedule D (*Forms of Accession Agreements*) to the Common Security and Account Agreement or Schedule P – 1 (*Replacement Facility Agent Accession Agreement*) and Schedule P – 2 (*New Facility Agent Accession Agreement* (*Additional Senior Debt*)) to the Common Terms Agreement.

"*Account Bank*" means, initially, Sumitomo Mitsui Banking Corporation acting in its capacity as such (with any replacement to the initial Account Bank having a then-current credit rating at appointment by S&P at least equivalent to A+ or by

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Moody's at least equivalent to A1 and being subject to receipt of consent in accordance with Section 9.9(b) (*Resignation, Removal and Replacement of Account Bank*) of the Common Security and Account Agreement).

"*Account Bank Fee Letter*" means the fee letter entered into between the Borrower, the Guarantors and the Account Bank in respect of the fees payable to the Account Bank in respect of its services to be performed as more fully described in the Common Security and Account Agreement and the other Security Documents.

"*Accounts*" has the meaning given in Section 4.3(a) (*Accounts*) of the Common Security and Account Agreement.

"*ACQ*" has the meaning given in the applicable LNG SPA.

"*Additional Debt Service Reserve Account(s)*" means each Account established pursuant to Section 4.3(a) (*Accounts*) of the Common Security and Accounts Agreement.

"*Additional Proceeds Prepayment Account*" means the account described in Section 4.3(a)(xii) (*Accounts*) of the Common Security and Account Agreement.

"*Additional Senior Debt*" has the meaning given in Section 2.2(a)(i) (*Incremental Senior Debt*) of the Common Security and Account Agreement.

"*Administrative Services Agreements*" means the agreements between the Obligors and the Manager for their respective Project Facilities.

"*Advance*" means a borrowing of a loan, issuance of or drawing upon a letter of credit or the issuance of debt securities pursuant to any Senior Debt Instrument.

"*Affected Financial Institution*" means (a) any EEA Financial Institution or (b) any UK Financial Institution.

"*Affiliate*" of any specified Person means any other Person directly or indirectly Controlling or Controlled by or under direct or indirect common Control with such specified Person and "*Affiliated*" shall be construed accordingly.

"*Affiliated Service Counterparties*" means the Sponsor, the Operator, the Pipeline Operator, CP2 Tug Services, LLC (only to the extent that the Phase 1 Service Agreement referenced in clause (e) of the definition thereof is in effect), and the Manager.

"*Agreement*" in each case where used means only the agreement in which the term is used. For the avoidance of doubt, (a) any reference to an individual Senior Debt Instrument which is a Facility Agreement shall be deemed to include reference to the Common Terms Agreement; and (b) references to an Indenture,

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or to any individual Senior Debt Instrument that is an Indenture, shall be deemed not to include reference to the Common Terms Agreement.

"*Amortization Schedule*", with respect to a Facility Agreement, has the meaning given in such Facility Agreement.

"*Anti-Terrorism and Money Laundering Laws*" means any of the following (a) Section 1 of Executive Order 13224 of September 24, 2001, Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism, (b) the Terrorism Sanctions Regulations (Title 31 Part 595 of the US Code of Federal Regulations), (c) the Terrorism List Governments Sanctions Regulations (Title 31 Part 596 of the US Code of Federal Regulations), (d) the Foreign Terrorist Organizations Sanctions Regulations (Title 31 Part 597 of the US Code of Federal Regulations), (e) the USA Patriot Act of 2001 (Pub. L. No. 107-56), (f) the US Money Laundering Control Act of 1986 (*i.e.*, Laundering of Monetary Instruments, 18 U.S.C. section 1956, and Engaging in Monetary Transactions in Property Derived from Specified Unlawful Activity, 18 U.S.C. section 1957), (g) the Bank Secrecy Act, 31 U.S.C. sections 5301 *et seq*., (h) the Financial Recordkeeping and Reporting of Currency and Foreign Transactions Regulations (Title 31 Chapter X of the US Code of Federal Regulations), (i) any other similar federal Government Rule having the force of law and relating to money laundering, terrorist acts or acts of war and (j) any regulations promulgated under any of the foregoing.

"*Applicable Anti-Corruption Laws*" means the U.S. Foreign Corrupt Practices Act of 1977, as amended, and all similar laws, rules, and regulations of any jurisdiction applicable to the Borrower, the Borrower's Subsidiaries or any Guarantor at the relevant time concerning or relating to bribery or corruption.

"*Approved Fund*" means any Fund administered or managed by (a) a Facility Lender, (b) an Affiliate of a Facility Lender or (c) an entity or an Affiliate of an entity that administers or manages a Facility Lender.

"*Approved Owner*" means any Person that is approved by the Requisite Intercreditor Parties.

"*ASC 842*" means the Accounting Standards Update No. 2021-05, Leases (Topic 842) issued by the Financial Accounting Standards Board in July 2021.

"*Assigned Agreement*" has the meaning given in Section 3.2(b)(i) (*Security Interests to be Granted by the Obligors – Security Interests – General*) of the Common Security and Account Agreement.

"*Arranger*" has the meaning given in Exhibit A (*Definitions*) to the Credit Facility Agreement.

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"*Authorized Investments*" means any US Dollar denominated investments that are:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;investments in marketable general 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 from the date of acquisition thereof and having, at such date of acquisition, a credit rating of "A" or higher from S&P or from Moody's (or if at such time neither is issuing ratings, then a comparable rating of such other nationally recognized rating agency as shall be approved by the Collateral Agent in its reasonable judgment);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;commercial paper or tax exempt obligations having one of the two highest ratings obtainable from Moody's or S&P (or if at such time neither is issuing ratings, then a comparable rating of such other nationally recognized rating agency as shall be approved by the Collateral Agent in its reasonable judgment) and, in each case, maturing within one year of acquisition thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;investments in certificates of deposit, banker's acceptances and time deposits maturing or putable within one year from the date of acquisition thereof issued or guaranteed or placed with, and money market deposit accounts issued or offered by, any domestic office of (i) a commercial bank organized under the laws of the United States of America or any state thereof or (ii) a licensed branch of a foreign bank organized under the laws of any member country of the Organization for Economic Co-Operation and Development, in either case, that has a combined capital and undivided surplus and undivided profits of at least $500 million;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) of this definition and entered into with a financial institution satisfying the criteria described in clause (d) of this definition; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;money market funds that (i) comply with the criteria set forth in Securities and Exchange Commission Rule 2a-7 (or any successor rule) under the Investment Company Act of 1940; (ii) are rated either AAA by S&P and Aaa by Moody's or at least 95% of the assets of which constitute Authorized Investments described in clauses (a) through (e) of this definition and/or US Dollars; and (iii) have portfolio assets of at least $500 million.

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"*Authorized Officer*" means: (a) with respect to any Person that is a corporation, the chairman, president, senior vice president, vice president, chief financial officer, chief operating officer, treasurer, assistant treasurer, attorney-in-fact, secretary or assistant secretary of such Person, (b) with respect to any Person that is a partnership, the chairman, president, senior vice president, vice president, chief financial officer, chief operating officer, treasurer, assistant treasurer, attorney-in-fact, secretary or assistant secretary of such Person or a general partner of such Person and (c) with respect to any Person that is a limited liability company, the chairman, president, senior vice president, chief financial officer, chief operating officer, vice president, treasurer, assistant treasurer, attorney-in-fact, secretary or assistant secretary, the manager, the managing member or a duly appointed officer of such Person.

"*Availability Period*" means, (a) with respect to the Term Loans, the Term Loan Availability Period, (b) with respect to the Working Capital Loans, the Working Capital Loan Availability Period, (c) with respect to Letters of Credit, the Working Capital Loan Availability Period, and (d) with respect to any other Loans, the period commencing on the date of first disbursement of such Loans and ending on the date of the termination or cancellation of all remaining Facility Debt Commitments pursuant to the terms of the corresponding Facility Agreement.

"*B&McD*" means Burns & McDonnell Engineering Company, Inc.

"*B&McD Pretreatment Contract*" means that certain Amended and Restated Engineering and Procurement Agreement (Phase 1 and Phase 2), dated as of July 1, 2025, between B&McD and the Procurement Company, as supplemented by the Notice to Proceed, dated as of August 13, 2024 and Phase 2 Notice to Proceed, dated as of July 2, 2025.

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

"*Bail-In Legislation*" means, (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation, rule or requirement for such EEA Member Country from time to time that is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).

"*Baker Gulf*" means Baker Gulf Coast Industrial, LLC.

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"*Baker Gulf Construction Agreement*" means the Construction Agreement (Reimbursable), dated as of June 12, 2025, by and between the Borrower and Baker Gulf.

"*Bankruptcy*" means with respect to any Person, the occurrence of any of the following events, conditions or circumstances:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;such Person shall file a voluntary petition in bankruptcy, or shall file any petition or answer or consent seeking any reorganization, arrangement, adjustment, composition, insolvency, liquidation, receivership, dissolution or similar relief for itself under the Bankruptcy Code or any present or future applicable federal, state or other statute or law relating to bankruptcy, insolvency, reorganization or other relief for debtors generally, or shall apply for or consent to the appointment of any trustee, receiver, conservator or liquidator of such Person or of all or any substantial part of its properties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a case or other proceeding shall be commenced against such Person in a court of competent jurisdiction without the consent or acquiescence of such Person seeking any reorganization, arrangement, adjustment, composition, insolvency, liquidation, receivership, dissolution or similar relief with respect to such Person or its debts under the Bankruptcy Code or any present or future applicable federal, state or other statute or law relating to bankruptcy, insolvency, reorganization or other relief for debtors generally, or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and such involuntary case or other proceeding shall remain undismissed or unstayed for a period of 60 consecutive days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;a court of competent jurisdiction shall enter an order, judgment or decree approving a petition with respect to such Person seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the Bankruptcy Code, or any other present or future applicable federal, state or other statute or law relating to bankruptcy, insolvency, reorganization or other relief for debtors, and such Person shall consent to the entry of such order, judgment or decree or such order, judgment or decree shall remain undischarged, unvacated or unstayed for 90 days (whether or not consecutive) from the date of entry thereof, or any trustee, receiver, conservator or liquidator of such Person or of all or any substantial part of its property shall be appointed without the consent of such Person and such appointment shall remain undischarged, unvacated and unstayed for an aggregate of 90 days (whether or not consecutive);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;such Person shall admit in writing its inability to pay its debts as they mature or shall generally not be paying its debts as they become due;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;such Person shall make a general assignment for the benefit of creditors or take any other similar action for the protection or benefit of creditors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the board of directors, board of managers or similar body, or the member(s) of such Person shall take any corporate or partnership action for the purpose of effecting any of the foregoing.

"*Bankruptcy Code*" means the United States Bankruptcy Reform Act of 1978 and codified as 11 U.S.C. Section 11 *et seq*.

"*Bankruptcy Default*" has the meaning given in Section 6.2(c) (*Initiation of Security Enforcement Action* – *Bankruptcy Default*) of the Common Security and Account Agreement.

"*Bankruptcy Proceeding*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any case, action or proceeding before any court or other governmental authority in relation to a Bankruptcy; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a general assignment under clause (e) of the definition of Bankruptcy,

in each case of (a) and (b) above, undertaken under applicable US federal, state or foreign law, including the Bankruptcy Code.

"*Base Case Forecast*" means the base case forecast attached as Schedule R (*Base Case Forecast*) to the Common Terms Agreement, as may be updated from time to time in accordance with the Common Terms Agreement.

"*Base Case Sizing Criteria*" means (a)(i) beginning with the Phase 1 Project Completion Date and for each twelve (12) month period thereafter (through the underlying amortization period of the Initial Senior Debt), including any stub period, a minimum Fixed Projected DSCR of not less than the Sizing Case DSCR and (ii) a Senior Debt/Equity Ratio of no greater than 75:25, based, in each case, on Cash Flow Available for Debt Service from the Fixed Facility Charge under the Required LNG SPAs (capped, in the case of any Excess Capacity, at 2.42 MTPA), and (b) solely to the extent when sizing the amount of any mandatory prepayment, a minimum Fixed Projected DSCR of not less than the Sizing Case DSCR based on Cash Flow Available for Debt Service from the Fixed Facility Charge under any Qualifying LNG SPAs that are then in full force and effect and on a twenty (20) year amortization profile and, in each case, assuming the Phase 1 Minimum Assumed Commissioning Cargo Proceeds during the commissioning period for Phase 1 LNG Facility, but assuming no lifting and no merchant sales on a long-term basis (other than commissioning cargoes in accordance with the methodology set forth herein).

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"*Basis Swap*" means a commodity derivative contract that is cash-settled based on the difference between: (a) the price of natural gas at one particular pricing point and (b) the price of natural gas at a different delivery location or pricing point.

"*Bcf*" means billions of cubic feet.

"*Beneficial Ownership Certification*" means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation.

"*Beneficial Ownership Regulation*" 31 C.F.R. § 1010.230.

"*BHES*" means Baker Hughes Energy Services LLC.

"*BHES LTSA*" means the long-term service agreement to be entered into between the Borrower and BHES.

"*Blocking Regulation*" means Council Regulation (EC) No 2271/1996 of 22 November 1996 (as amended) and/or any applicable national law or regulation relating to it (including Section 7 of the German Foreign Trade Ordinance (*Außenwirtschaftsverordnung*)).

"*Borrower*" means Venture Global CP2 LNG, LLC, a limited liability company organized under the laws of the State of Delaware. The Borrower is also referred to as the "*Company*" under the Common Security and Account Agreement and the "*Mortgagor*" under the Mortgage.

"*Bridge Loan*" means the loans outstanding under that certain Credit and Guaranty Agreement, dated as of May 1, 2025, by and among the Borrower, as borrower, the Guarantors, as guarantors, the lenders party thereto and Sumitomo Mitsui Banking Corporation, as administrative agent, as may be amended, amended and restated, modified or supplemented from time to time.

"*Btu*" means the amount of heat required to raise the temperature of one avoirdupois pound of pure water from fifty-nine degrees (59°) Fahrenheit to sixty degrees (60°) Fahrenheit at a pressure of fourteen point six nine six (14.696) pounds per square inch absolute (psia).

"*Business Day*" means a day (other than a Saturday or Sunday) on which banks are generally authorized to be open for business under the laws of the State of New York.

"*Business Interruption Insurance Proceeds*" means all proceeds of any insurance policies required pursuant to the Schedule of Minimum Insurance or otherwise obtained with respect to the Obligors or the Project Facilities insuring the Obligors against business interruption or delayed start-up.

"*Cajun*" means Cajun Industries, LLC.

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"*Cajun Construction Agreements*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Storm Surge Wall Construction Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Marine Terminal Works Construction Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Reimbursable Construction Agreement.

"*Callan*" means Callan Marine, Ltd.

"*Capital Lease*" means any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet under GAAP.

"*Cash Flow*" means, with respect to any period, all funds received or, as applicable in the relevant context, projected to be received by the Obligors during such period, without duplication, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;amounts received by the Borrower under the LNG SPAs (including in respect of Supplemental Quantities sold by the Borrower as permitted under Section 8.4 (*Sale of Supplemental Quantity*) and in respect of quantities of LNG sold by the Borrower prior to the Project Phase 1 Completion Date and/or Project Phase 2 Completion Date, as applicable, as permitted under Section 8.5 (*Sale of Pre-Completion Quantities*));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;earnings on funds held in the Secured Accounts (excluding interest and investment earnings that accrue on the amounts on deposit in any of the Senior Facilities Debt Service Reserve Account or any account established to prefund interest on any Senior Debt, if any, in any case, that are not transferred to the Revenue Account pursuant to the Common Security and Account Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any amounts deposited in the Insurance/Condemnation Proceeds Account to the extent applied to the payment of Operation and Maintenance Expenses or Project Costs in accordance with Article 5 (*Insurance and Condemnation Proceeds and Performance Liquidated Damages*) of the Common Security and Account Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all cash paid to the Obligors during such period as Business Interruption Insurance Proceeds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;proceeds from the transfer, sale or disposition of assets or rights of the Obligors in the ordinary course of business in accordance with Section 12.17 (*Sale of Project Property*) of the Common Terms Agreement (other than as set forth in sub-clause (6) below) to the extent such proceeds have been or will be used to pay Operation and Maintenance Expenses;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;amounts paid to each Obligor under any Material Project Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;amounts received by each Obligor under Permitted Hedging Instruments other than in respect of interest rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;with respect to the calculation of the Historical DSCR for any purpose other than such calculation under Section 11 (*Restricted Payments*) of the Common Terms Agreement, and for any period, all cash paid to the Borrower during the applicable period from any direct or indirect owner of the Borrower by way of Equity Funding (other than any Equity Contributions) (in each case as otherwise permitted pursuant to the terms of the Finance Documents) in accordance with Section 12.25(b) (*Historical DSCR*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;with respect to the calculation of Fixed Projected DSCR for any purpose other than such calculation under Section 11 (*Restricted Payments*) of the Common Terms Agreement, and for any period, any cash projected to be on deposit in the Secured Accounts at the commencement of such period as a result of a restriction on the making of Restricted Payments applicable prior to such period (without double counting any other amounts of Cash Flow taken into account in the calculation of the Fixed Projected DSCR);

but excluding, in each case:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;all amounts required to be deposited in the Insurance/Condemnation Proceeds Account used to reimburse Equity Funding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;all proceeds of Senior Debt that are used to reimburse Drawstop Equity Contributions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;proceeds of third-party liability insurance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;proceeds of the sale of assets permitted by Section 12.17(b) or (k) (*Sale of Project Property*) of the Common Terms Agreement unless and until applied to procure a replacement for such assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;proceeds of Senior Debt and other Indebtedness (and corresponding amounts received by the Obligors pursuant to any guarantees) permitted by Section 12.14 (*Limitation on Indebtedness*) of the Common Terms Agreement other than amounts received under Permitted Hedging Instruments included under clause (g) above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;&nbsp;except as provided in clause (h) above, Equity Funding received from the Sponsor or any direct or indirect holders of equity interests of the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;&nbsp;any cash deposited into the Additional Proceeds Prepayment Account.

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"*Cash Flow Available for Debt Service*" means, for each applicable measurement period, the amount equal to (a) Cash Flow for such period (excluding cash flow from the Project Phase 2 Development prior to the Project Phase 2 Completion Date and from any Permitted Internal Expansion prior to the date of commercial operations for any Permitted Internal Expansion) minus (b) Operation and Maintenance Expenses for such period; *provided* that, Operation and Maintenance Expenses included in the calculation of Historical DSCR and Fixed Projected DSCR will exclude (i) that portion of Operation and Maintenance Expenses arising prior to the Phase 1 Project Completion Date that are Project Costs (or, in connection with Project Phase 2 Development or a Permitted Internal Expansion, similar project costs), (ii) Operation and Maintenance Expenses arising from and after the Phase 1 Project Completion Date relating to expenditure on items that were, as of the Phase 1 Project Completion Date, outstanding or punch list items under the Phase 1 Material Construction Contracts, and for which sufficient reserves are on deposit in the Completion Reserve Account (or, in connection with Project Phase 2 Development or a Permitted Internal Expansion, similar punch list items) and (iii) Operation and Maintenance Expenses that are Required Capital Expenditures.

"*Catastrophic Casualty Event*" means any Event of Loss where Insurance Proceeds or Condemnation Proceeds are received in an aggregate amount for a single loss or related series of losses exceeding $1 billion.

"*CB&I*" means CB&I Storage Tank Solutions LLC.

"*CCRA Consultant*" means Lummus Consultants International LLC.

"*CERCLA*" means the Comprehensive Environmental Response, Compensation and Liability Act (42 U.S.C. section 9604, *et seq*.) and rules and regulations issued thereunder.

"*Cessation Notice*" has the meaning given in Section 15.3 (*Cessation of Loan Facility Declared Default*) of the Common Terms Agreement.

"*CFCo*" means a new subsidiary of the Borrower formed for the purposes of holding a portion of the Project and/or the Project Facilities, which may include storage tanks, the perimeter wall, marine berths, natural gas pre-treatment units, power facilities, pipelines and other common assets that may be shared directly or indirectly with any External LNG/CCS Entity.

"*Change in Law*" means the occurrence, after the Closing Date, of any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the adoption or taking effect of any law;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any change in any law or in the administration, interpretation, implementation or application thereof by any Governmental Authority; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority;

*provided* that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a "*Change in Law*", regardless of the date enacted, adopted or issued.

"*Change of Control*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;prior to the Project Phase 1 Completion Date, the Sponsor and any Approved Owners, collectively, shall cease to, directly or indirectly, maintain (i) voting or managerial control of the Borrower or any Guarantor or (ii) a majority of the economic interest in the Borrower or any Guarantor; *provided* that, (A) any Person to whom any portion of such economic interest is transferred shall satisfy the requirements for a Qualified Owner set forth in clauses (b), (c) and (d) of the definition thereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;after the Project Phase 1 Completion Date, (i) the Sponsor, any Approved Owners and any Qualified Owners, collectively, shall cease to, directly or indirectly, maintain voting or managerial control of the Borrower or any Guarantor or (ii) the Sponsor, any Approved Owners and any Qualified Owners, collectively, shall cease to, directly or indirectly, maintain more than 50% of the economic interest in the Borrower or any Guarantor; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;at any time, the Pledgor shall cease to directly maintain 100% of the voting and economic interests in the Borrower or any Guarantor.

"*Change Order*" has the meaning given in the applicable Material Project Agreement.

"*Chevron*" means Chevron U.S.A. Inc.

"*China Gas*" means China Gas Hongda Energy Trading Co., Ltd.

"*Closing*" means the satisfaction or waiver of all the conditions precedent set forth in Section 4.1 (*Conditions to Closing Date and Initial Advance*) and Section

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 (*Conditions to Each Term Loan Advance)* of the Common Terms Agreement, with respect to the Initial Senior Debt.

"*Closing Conditions Certificate*" has the meaning given in Section 4.4(a)(i) (*Satisfaction of Conditions*) of the Common Terms Agreement.

"*Closing Date*" means the date on which the conditions precedent set forth in Section 4.1 (*Conditions to Closing Date and Initial Advance)* and Section 4.2 (*Conditions to Each Term Loan Advance)* of the Common Terms Agreement have been satisfied or waived. For the avoidance of doubt, the Closing Date is July 28, 2025.

"*Closing Date Participant*" has the meaning given in Exhibit A (*Definitions*) to the Credit Facility Agreement.

"*Closing Notice*" has the meaning given in Section 4.4(a)(i) (*Satisfaction of Conditions*) of the Common Terms Agreement.

"*Code*" means the Internal Revenue Code of 1986, as amended.

"*Collateral*" means any property right or interest subject to a Security Interest.

"*Collateral Agency Fee Letter*" means the fee letter entered into between the Borrower, the Guarantors and the Collateral Agent in respect of the fees payable to the Collateral Agent in respect of its services to be performed as more fully described in the Common Security and Account Agreement and the other Finance Documents.

"*Collateral Agent*" means the trustee named under the Common Security and Account Agreement as collateral agent for the Secured Parties.

"*Collateral Parties*" means the Obligors and Pledgor, and "*Collateral Party*" shall have a corresponding meaning.

"*Collateral Records*" means books, records, ledger cards, files, correspondence, customer lists, supplier lists, blueprints, technical specifications, manuals, computer software and related documentation, computer printouts, tapes, disks and other electronic storage media and related data processing software and similar items that at any time evidence or contain information relating to any of the Collateral or are otherwise necessary or helpful in the collection thereof or realization thereupon.

"*Commercial Operation Date*" has the meaning given in the applicable LNG SPA.

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"*Commitment Letter*" means that certain Commitment Letter, dated as of July 24, 2025, by and among, the Obligors and the Banks (as defined therein) party thereto.

"*Commodity Exchange Act*" means the Commodity Exchange Act, as amended (7 U.S.C. § 1 et seq.).

"*Common Facilities*" has the meaning given in Section 7.5(a)(i) (*External Expansions – Creation of Common Facilities Company*) of the Common Terms Agreement.

"*Common Facilities Agreement*" means one or more common facilities agreements entered into by CFCo and the Borrower, the Pipeline Company, the Procurement Company or any of their respective Subsidiaries and/or any External LNG/CCS Entity.

"*Common Security and Account Agreement*" means the Common Security and Account Agreement, dated as of the Closing Date, among the Borrower, the Guarantors, each Senior Creditor Group Representative on its own behalf and on behalf of the relevant Senior Creditor Group, the Intercreditor Agent, the Collateral Agent and the Account Bank.

"*Common Terms Agreement*" means the Common Terms Agreement, dated as of the Closing Date, among the Borrower, the Guarantors, the Credit Facility Agent and each other Facility Agent on behalf of its respective Facility Lenders, and the Intercreditor Agent providing common representations, warranties, undertakings and events of default. For the avoidance of doubt, (i) any reference to an individual Senior Debt Instrument which is a Facility Agreement shall be deemed to include reference to the Common Terms Agreement; and (ii) references to an Indenture, or to any individual Senior Debt Instrument that is an Indenture, shall be deemed not to include reference to the Common Terms Agreement.

"*Company*" means Venture Global CP2 LNG, LLC, a limited liability company organized under the laws of the State of Delaware. The Company is also referred

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to as the "Borrower" in certain Finance Documents, the "*Mortgagor*" in the Mortgage, and the "Issuer" in other Finance Documents.

"*Completion Reserve Account*" means the account described in Section 4.3(a)(xiv) (*Accounts*) of the Common Security and Account Agreement.

"*Compliance Assessment Consultant*" means Environmental Resources Management Southwest, Inc.

"*Condemnation Proceeds*" means any amounts and proceeds of any kind (including instruments) payable in respect of any Event of Taking.

"*Confidential Information*" means all information received from any Obligor, the Pledgor, the Sponsor, any Approved Owner or any of their respective Affiliates or on their behalf relating to any of such entities, their respective businesses, the Project Facilities, the Material Project Agreements or the Development.

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

"*Conservative Case Commissioning Cargoes*" means for the entire commissioning period of the Phase 1 LNG Facility, [\*\*\*] cargoes.

"*Constitutional Documents*" means certificates of formation, limited liability company agreements, partnership agreements, certificates of incorporation, bylaws or any similar entity organizational or constitutive document.

"*Construction Account*" is the account described in Section 4.3(a)(v) (*Accounts*) of the Common Security and Account Agreement.

"*Construction Budget and Schedule*" means (a) the budget delivered pursuant to Section 4.1(g)(i) (*Conditions to Closing Date and Initial Advance – Project Development*) of the Common Terms Agreement (which shall be substantially in the form of budget attached as Schedule D-1 (*Construction Budget and Schedule* – *Construction Budget*) to the Common Terms Agreement) and (b) the schedule delivered pursuant to Section 4.1(g)(i) (*Conditions to Closing Date and Initial Advance – Project Development*) of the Common Terms Agreement (which shall be substantially in the form of schedule attached as Schedule D-2 (*Construction Budget and Schedule – Construction Schedule*).

"*Construction Contractors*" means the Phase 1 Construction Contractors and any counterparties to Subsequent Material Project Agreements in respect of construction or procurement.

"*Consultants*" has the meaning given in Section 13.1 (*Appointment of Consultants*) of the Common Terms Agreement.

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"*Contingency Reserve Account*" is the account described in Section 4.3(a)(ix) (*Accounts*) of the Common Security and Account Agreement.

"*Contingency Reserve Amount*" means an amount equal to $[\*\*\*]

"*Contingency Reserve Requirement*" means the sum of the (i) Updated Contingency Amount; plus (ii) the Phase 1 Completion Costs; plus (iii) the Phase 1 DSRA.

"*Continuing*" (including, with its corresponding meaning, the terms "*Continuance*" and "*Continuation*") means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any Loan Facility Declared Default, Indenture Declared Default or other comparable event of default or termination event under any other Senior Debt Instrument or Permitted Hedging Instrument, that such event of default or termination event has occurred without the need for declaration, or been declared by required Senior Creditor action, in each case in conformity with the requirements of the Common Terms Agreement or such other Senior Debt Instrument or Permitted Hedging Instrument, as the case may be, and no Cessation Notice or similar notice shall have been given with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any Unmatured Loan Facility Event of Default, Unmatured Indenture Event of Default or other unmatured default or termination event under any other Senior Debt Instrument or Permitted Hedging Instrument, that such unmatured default or termination event has occurred and has not been waived or cured; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any Loan Facility Event of Default, Indenture Event of Default or other event of default or termination event under any other Senior Debt Instrument or Permitted Hedging Instrument, that such event of default or termination event has occurred and has not been declared, waived or cured.

"*Contract Sales Price*" has the meaning given in the applicable LNG SPA.

"*Contribution Agreement*" means that certain Contribution Agreement, dated as of the Closing Date, by and between CP2 EBL Borrower and the Borrower.

"*Control*" of a Person means the power to direct the management and policies of that Person, directly or indirectly, whether through the ownership of voting securities, by operation of law, by contract (including pursuant to a partnership or similar agreement) or otherwise; and the terms "*Controlling*" and "*Controlled*" have corresponding meanings to the foregoing.

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"*Control Agreements*" means any Deposit Account Control Agreement or Securities Account Control Agreement entered into by and among the Borrower or any Guarantor, the Collateral Agent and Sumitomo Mitsui Banking Corporation or a Third Party Account Bank, with respect to a Local Account or a Third Party Investment Account in accordance with the Common Security and Account Agreement (*Details of Initial Accounts*).

"*Controlling Claimholders*" means Senior Creditor Group Representatives representing a Majority in Interest of the Senior Creditors.

"*Coordinating Lead Arranger*" has the meaning given in Exhibit A (*Definitions*) to the Credit Facility Agreement.

"*Copyright Licenses*" means any and all agreements, licenses and covenants providing for the granting of any right in or to any Copyright or otherwise providing for a covenant not to sue for infringement or other violation of any Copyright (whether an Obligor is licensee or licensor thereunder) including each agreement required to be listed in Schedule J (*Intellectual Property*) to the Common Security and Account Agreement under the heading "Copyright Licenses" (as such schedule may be amended or supplemented from time to time).

"*Copyrights*" means all United States, and foreign copyrights (whether or not the underlying works of authorship have been published), including copyrights in software and all rights in and to databases, all designs (including industrial designs, Protected Designs within the meaning of 17 U.S.C. 1301 *et*. *seq*. and Community designs), and all Mask Works (as defined under 17 U.S.C. 901 of the US Copyright Act), whether registered or unregistered, as well as all moral rights, reversionary interests, and termination rights, and, with respect to any and all of the foregoing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all registrations and applications therefor including the registrations and applications required to be listed in Schedule J (*Intellectual Property*) to the Common Security and Account Agreement under the heading "Copyrights" (as such schedule may be amended or supplemented from time to time);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all extensions, renewals and restorations thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all rights to sue or otherwise recover for any past, present and future infringement or other violation thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all proceeds of the foregoing, including license fees, royalties, income, payments, claims, damages and proceeds of suit now or hereafter due and/or payable with respect thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;all other rights of any kind accruing thereunder or pertaining thereto throughout the world.

"*CP Express Pipeline*" means the approximately 85.4-mile-long mainline natural gas pipeline from Jasper County, Texas to Cameron Parish, Louisiana, an approximately 6.0 mile-long lateral pipeline in Calcasieu Parish, Louisiana, and related facilities connecting the Phase 1 LNG Facility to the existing interstate and intrastate natural gas pipeline system to receive feed gas for liquefaction and the power plant, in each case, as described in the application filed by the Pipeline Company, pursuant to Section 7(c) of the Natural Gas Act, and its subsequent filings, in FERC Docket No. CP22-22.

"*CP Satisfaction Date*" has the meaning given in the applicable LNG SPA.

"*CP2 EBL Borrower*" means CP2 LNG Holdings, LLC, a Delaware limited liability company.

"*Credit Facility Agency Fee Letter*" means the fee letter entered into between the Borrower, the Guarantors and the Credit Facility Agent in respect of the fees payable to the Credit Facility Agent in respect of its services to be performed as more fully described in the Credit Facility Agreement and the other Finance Documents.

"*Credit Facility Agent*" means the facility agent under the Credit Facility Agreement.

"*Credit Facility Agreement*" means the Credit Facility Agreement, dated as of the Closing Date, by and among the Borrower, the Guarantors, the Credit Facility Lender Parties party thereto from time to time, the Credit Facility Agent and, solely for purposes of Section 3.06 thereof, the Collateral Agent.

"*Credit Facility Lender Parties*" means the Credit Facility Lenders and the Issuing Banks under the Credit Facility Agreement.

"*Credit Facility Lenders*" means the "Lenders" under the Credit Facility Agreement.

"*Credit Facility Secured Parties*" has the meaning given in Exhibit A (*Definitions*) to the Credit Facility Agreement.

"*CTA Payment Date*" means (a) each Quarterly Payment Date, (b) the date for payment of Senior Debt Obligations (including payment dates for the payment of interest) under or pursuant to any Facility Agreement or Permitted Hedging Instrument, including the Common Terms Agreement and (c) the scheduled Final Maturity Date under each Facility Agreement.

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"*Debt Domain Website*" has the meaning given in Section 12.7(b) (*Notices*) of the Common Security and Account Agreement.

"*Debt Service*" means, for any period, the sum computed without duplication, of the following: (a) all amounts payable by the Borrower in respect of scheduled principal of indebtedness during such period in respect of Senior Debt Obligations, *plus* (b) interest on Senior Debt Obligations (taking into account Permitted Hedging Instruments) scheduled to become due and payable (or for purposes of the Historical DSCR or Fixed Projected DSCR, accrued or paid) during such period, *plus* (c) all other commitment fees, agency fees, trustee fees or other administrative fees (other than upfront fees, arranging fees, underwriting fees or similar fees) payable in connection with the Senior Debt Obligations.

"*Debt Service Reserve Account*" means the Senior Facilities Debt Service Reserve Account and each Additional Debt Service Reserve Account.

"*Decision*" means any notice, consent, decision, approval, instruction, judgment, direction, objection or Modification.

"*Declared Event of Default*" means an Event of Default that has been declared or is otherwise deemed to have been declared by a Senior Creditor Group Representative under its Senior Debt Instrument (acting on behalf of the Senior Creditors under, and in accordance with, such Senior Debt Instrument) or otherwise is deemed to have been declared in accordance with the terms of the relevant Senior Debt Instrument.

"*Default Rate*" means a rate per annum equal to the rate that would otherwise be applicable plus 2%, or if there is no applicable interest rate, a rate per annum equal to the highest interest rate applicable to any then-outstanding Senior Debt plus 2%.

"*Defaulting Lender*", with respect to a Facility Agreement, has the meaning given in such Facility Agreement.

"*Delay Liquidated Damages*" means any liquidated damages that are required to be paid to an Obligor under any Material Project Agreement by any Construction Contractor for or on account of any delay in the delivery of equipment and materials, completion of construction activities or in the completion of one or more Performance Tests.

"*Delivered Basis Capacity Limitation*" has the meaning given in Section 12.5(l) (*Material Project Agreements*).

"*Development*" means (a) the Project Phase 1 Development and (b) on and following the Project Phase 2 FID Conditions Satisfaction Date, collectively, the Project Phase 1 Development and the Project Phase 2 Development and (c) on and

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following the Permitted Internal Expansion FID Conditions Satisfaction Date for any Permitted Internal Expansion, collectively, the Project Phase 1 Development, the Project Phase 2 Development and the development of such Permitted Internal Expansion. "*Develop*" and "*Developed*" shall have corresponding meanings.

"*Development Expenditures*" means, for any period, the aggregate amount of all expenditures of the Obligors (or, subject to Section 7.5 (*External Expansions*), CFCo) payable during such period that, in accordance with GAAP, are or should be included in "*purchase of property, plant and equipment*" or similar items reflected in the consolidated statement of cash flows of the Obligors.

"*DIP Financing*" has the meaning given in Section 10.5(b) (*Certain Agreements with Respect to Bankruptcy*) of the Common Security and Account Agreement.

"*DIP Financing Liens*" has the meaning given in Section 10.5(b)(ii) (*Certain Agreements with Respect to Bankruptcy*) of the Common Security and Account Agreement.

"*DIP Lenders*" has the meaning given in Section 10.5(b) (*Certain Agreements with Respect to Bankruptcy*) of the Common Security and Account Agreement.

"*Direct Agreements*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among SEFE, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among JERA, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among Inpex, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among ENBW, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among NFE, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among ExxonMobil LNG, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among Chevron, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among Petronas, the Borrower and the Collateral Agent;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among SEFE Securing Energy for Europe GmbH, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among ENI, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among Inpex Corporation, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among New Fortress Energy Inc., the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Notice and Consent to Assignment, dated as of the date hereof, by and among China Gas, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Notice of Acknowledgement and Consent, dated as of the date hereof, by and among China Gas Holdings Limited, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among the Borrower and Venture Global Commodities, LLC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among Phase 1 EPC Contractor, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among Worley Limited, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among BHES, the Borrower and the Collateral Agent in respect of the LTS 2023 Purchase Order and the LTS 2024 Purchase Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among Baker Hughes Holdings LLC, the Borrower and the Collateral Agent in respect of the Guaranty Agreement dated as of April 13, 2023 and the Guaranty Agreement dated as December 13, 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among BHES, the Procurement Company and the Collateral Agent in respect of the PIS 2023 Purchase Order and the PIS 2024 Purchase Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among Baker Hughes Holdings LLC, the Borrower and the Collateral Agent in respect of the Guaranty Agreement dated as of July 14, 2023 and the Guaranty Agreement dated as of September 30, 2024;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Consent to Collateral Assignment, dated as of the date hereof, by and among CB&I, CB&I STS Holdings LLC, the Borrower and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;Direct Agreement, dated as of the Closing Date, by and between the Manager and the Collateral Agent and acknowledged and agreed to by the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;Direct Agreement, dated as of the Closing Date, by and between the Manager and the Collateral Agent, and acknowledged and agreed to by the Pipeline Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;Direct Agreement, dated as of the Closing Date, by and between the Manager and the Collateral Agent, and acknowledged and agreed to by the Procurement Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;Direct Agreement, dated as of the Closing Date, by and between the Operator and the Collateral Agent, and acknowledged and agreed to by the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;&nbsp;&nbsp;&nbsp;Direct Agreement, dated as of the Closing Date, by and between the Pipeline Operator and the Collateral Agent, and acknowledged and agreed to by the Pipeline Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb)&nbsp;&nbsp;&nbsp;&nbsp;Direct Agreement, dated as of the Closing Date, by and between the Borrower, CP2 Tug Services, LLC and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc)&nbsp;&nbsp;&nbsp;&nbsp;Direct Agreement, dated as of the Closing Date, by and between the Borrower, the Sponsor and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd)&nbsp;&nbsp;&nbsp;&nbsp;Direct Agreement, dated as of the Closing Date, by and between the Procurement Company, the Sponsor and the Collateral Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee)&nbsp;&nbsp;&nbsp;&nbsp;Direct Agreement, dated as of the Closing Date, by and between the Borrower, the Sponsor and the Collateral Agent in respect of the Guarantee for the Phase 1 Excess Capacity LNG SPA; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff)&nbsp;&nbsp;&nbsp;&nbsp;to the extent not otherwise covered by the clauses above, the agreements described in Section 3.4 (Direct Agreements) of the Common Security and Account Agreement.

"*Disbursement Account*" means the Loan Facility Disbursement Accounts and Senior Note Disbursement Accounts required to be established pursuant to Section 4.3(a)(i)-(ii) (*Accounts*) of the Common Security and Account Agreement.

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"*Disbursement Endorsement*" means endorsement(s) to the Title Policy (dated not earlier than two Business Days prior to the date of the requested Advance, as applicable) substantially in the form of the ALTA 33-06 Endorsement attached as Schedule W (*Form of Disbursement Endorsement)* to the Common Terms Agreement (which has been paired with the ALTA 32-06 Endorsement attached to the Title Policy).

"*Disbursement Request*" means a drawdown notice or request for issuance of letter(s) of credit, as applicable, substantially in the form set forth in Schedule B-1 (*Disbursement Request Form (Term Loans)*), Schedule B-2 (*Disbursement Request Form (Working Capital Loans)*) or Schedule B-3 (*Issuance Request Form (Letters of Credit)*) to the Common Terms Agreement (or equivalent under another Senior Debt Instrument), given by the Borrower requesting an Advance with respect to a Loan in accordance with the terms of Section 2.3 (*Loan Disbursement and Letter of Credit Issuance Procedures*) of the Common Terms Agreement and/or the applicable Facility Agreement or a request for issuance of letter(s) of credit in accordance with the terms of the applicable Facility Agreement.

"*Discharge Date*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;with respect to the Senior Debt Obligations under a Senior Debt Instrument, the date on which such Senior Debt Obligations thereunder shall have been unconditionally paid or discharged in full in US Dollars (other than Senior Debt Obligations thereunder that by their terms survive and with respect to which no claim has been made by the applicable Senior Creditor), the Senior Debt Commitments thereunder shall have been terminated, expired or been reduced to zero and all letters of credit thereunder (if any) shall have been terminated or collateralized in accordance with the provisions of such Senior Debt Instrument;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;with respect to the Senior Debt Obligations under a Permitted Senior Debt Hedging Instrument, the date on which such Senior Debt Obligations thereunder shall have been unconditionally paid or discharged in full in US Dollars (other than Senior Debt Obligations thereunder that by their terms survive and with respect to which no claim has been made by the applicable Senior Creditor) and all transactions under such Permitted Senior Debt Hedging Instrument shall have terminated or expired; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;with respect to all Senior Debt Obligations, collectively, the date on which each of the above shall have occurred with respect to each then-existing Senior Debt Instrument and Permitted Senior Debt Hedging Instrument and any other Senior Debt Obligations owing to the Intercreditor Agent, Facility Agents, Collateral Agent or other Secured Parties shall have been unconditionally paid or discharged in full in US Dollars (other than Senior

&nbsp;&nbsp;&nbsp;&nbsp;

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Debt Obligations that by their terms survive and with respect to which no claim has been made by the applicable Secured Party).

"*Disputed Amounts*" has the meaning given in Section 14.1(e) (*Conditions to Occurrence of the Project Phase 1 Completion Date – Payment*) of the Common Terms Agreement.

"*Disqualified Advisor*" means (a) unless otherwise consented to by the Borrower in writing (including email) any Person set forth by the Borrower on Schedule Z (*Disqualified Advisors*) of the Common Terms Agreement as of the Closing Date (the "Disqualified Advisor List"), as updated from time to time by the Borrower by three Business Days' prior written notice to the Intercreditor Agent and each Facility Agent to add any counsel, consultants or other advisors of the Borrower or (b) any clearly identifiable (solely on the basis of its name or as identified by the Borrower to the Credit Facility Agent) Affiliate of the entities described in clause (a); *provided* that, any designation as a "Disqualified Advisor" shall not apply retroactively.

"*Disqualified Institution*" means (a) any Person set forth by the Borrower on Schedule Y (*Disqualified Institutions)* of the Common Terms Agreement as of the Closing Date, as updated from time to time by the Borrower by three Business Days' prior written notice to the Intercreditor Agent and each Facility Agent to add any competitor of any Obligor or (b) any clearly identifiable (solely on the basis of its name or as identified by the Borrower to the Intercreditor Agent) Affiliate of the entities described in clause (a), excluding any bona fide debt fund affiliate of such Person that is primarily engaged in, or advises funds or other investment vehicles that are engaged in, making, purchasing, holding, or otherwise investing in commercial loans, bonds, and similar extensions of credit or securities in the ordinary course of its business; *provided* that, any designation as a "Disqualified Institution" shall not apply retroactively to any then current Credit Facility Lenders or any entity that has acquired an assignment or participation interest in any Term Loans or Working Capital Loans in accordance with and under the Credit Facility Agreement. The parties to this Agreement hereby acknowledge and agree that no Facility Agent shall be deemed to be in default under this Agreement or to have any duty or responsibility or to incur any liabilities, nor shall such Facility Agent have any duty, responsibility or liability to monitor or enforce assignments, participations or other actions in respect of Disqualified Institutions, or otherwise take (or omit to take) any action with respect thereto.

"*Distribution Account*" is the account described in Section 4.3(a)(xv) (*Accounts*) of the Common Security and Account Agreement.

"*Documentation Bank*" has the meaning set forth in the Credit Facility Agreement.

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"*Documentation Bank Fee Letter*" means the fee letter entered into between the Borrower, the Guarantors, ING Capital LLC and Banco Santander, S.A., New York Branch, in respect of the fees payable to each of ING Capital LLC and Banco Santander, S.A., New York Branch, in respect of their services to be performed as Documentation Bank (as more fully described in the Credit Facility Agreement and the other Finance Documents).

"*DOE*" means the US Department of Energy.

"*DOT*" means the US Department of Transportation.

"*DPU*" means Delivered at Place Unloaded as defined in Incoterms 2010.

"*Drawstop Equity Contributions*" means contributions of cash equity made to Borrower during any period in which Borrower is unable to satisfy the conditions set forth in Section 4.2 (*Conditions to Each Term Loan Advance*) of the Common Terms Agreement (regardless of whether an Advance is then being requested), which contributions shall not be required to be deposited into the Construction Account in accordance with the Common Security and Account Agreement.

"*Dredging Services Agreement*" means that certain Dredging Services Agreement, dated as of May 16, 2025, by and between Callan and the Borrower, as supplemented by Anticipated Limited Notice to Proceed, dated as of May 23, 2025 and Notice to Proceed, dated as of June 6, 2025.

"*DSCR*" means either Historical DSCR or Fixed Projected DSCR.

"*Early Cargo Projections*" means the then current forecasts of commissioning cargoes to be exported at the Phase 1 Project Facilities prior to the occurrence of the Commercial Operation Date (under the Phase 1 Initial LNG SPAs), including, as of any date of delivery of such forecasts, the portion of such commissioning cargoes that are contracted.

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

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

"*EEA Resolution Authority*" means any public administrative authority or any Person entrusted with public administrative authority of any EEA Member

&nbsp;&nbsp;&nbsp;&nbsp;

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Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

"*ENBW*" means ENBW Energie Baden-Württemberg AG.

"*Enforcement Action*" has the meaning given in Section 16.1(a) (*Facility Lender Remedies for Loan Facility Declared Events of Default – Enforcement Action*) of the Common Terms Agreement.

"*Enforcement Proceeds Account*" has the meaning given in Section 6.7(a) (*Enforcement Proceeds Account*) of the Common Security and Account Agreement.

"*ENI*" means ENI S.p.A.

"*Environmental Claim*" means any administrative, regulatory or judicial action, suit, judgment or other legal action (collectively, a "*claim*") by any Person alleging or asserting liability for investigatory costs, response, cleanup or other remedial costs, legal costs, environmental consulting costs, governmental environmental response costs, damages to natural resources or other property, personal injuries, fines or penalties arising out of (a) the presence, Release or threatened Release into the environment, of any Hazardous Material at any location, whether or not owned by the Person against whom such claim is made, or (b) any violation of any Environmental Law. The term "*Environmental Claim*" will include any claim by any Person or Governmental Authority for enforcement, cleanup, removal, response, remedial action or damages pursuant to any Environmental Law, and any claim by any third party seeking damages, contribution, indemnification, cost recovery, compensation or injunctive relief under any Environmental Law.

"*Environmental Consultant*" means Lummus Consultants International LLC or any independent replacement environmental consulting firm to be selected in accordance with Section 13.2 (*Replacement and Fees*) of the Common Terms Agreement.

"*Environmental Laws*" means all federal, state, and local statutes, laws, regulations, rules, judgments (including all tort causes of action), orders or decrees, in each case as modified and supplemented and in effect from time to time concerning the regulation, use or protection of the environment, coastal resources, protected plant and animal species, human health and safety, Hazardous Materials, including exposure to or to Releases or threatened Releases of Hazardous Materials into the environment, including ambient air, soil, surface water, groundwater, wetlands, coastal waters, land or subsurface strata, or otherwise relating to the generation, manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials.

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"*EPC Change in Law*" means "Change in Law" as defined in each applicable Material Project Agreement.

"*Equator Principles*" means the principles named "Equator Principles – A financial industry benchmark for determining, assessing and managing social and environmental risk in projects" adopted by various financing institutions in the form dated July 2020 and effective October 2020, available at: https://equator-principles.com/wp-content/uploads/2020/05/The-Equator-Principles-July-2020-v2.pdf.

"*Equity Contribution*" means the amounts funded in accordance with Section 4.1(aa) (*Conditions to Initial Closing Date and Initial Advance*).

"*Equity Funding*" means contributions made to the Borrower in the form of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;equity funding from a direct or indirect shareholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;payment of Project Costs in respect of the Development prior to the Closing Date to the extent such amounts were not funded with Bridge Loans or reimbursed with the proceeds of Bridge Loans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Cash Flow applied or committed to be applied towards Project Costs prior to (i) with respect to the Phase 1 Project Facilities, the Project Phase 1 Completion Date, (ii) with respect to the Phase 2 LNG Facility, the Project Phase 2 Completion Date or (iii) with respect to any Permitted Internal Expansion, "substantial completion" in respect of such Permitted Internal Expansion, (including (i) with respect to the Phase 1 Project Facilities, prior to the Project Phase 1 Completion Date, Pre-Completion Revenues transferred from the Pre-Completion Revenues Account to the Construction Account or the Contingency Reserve Account in accordance with Section 4.5(b)(ii)(C) (*Deposits and Withdrawals – Pre-Completion Revenues Account*) of the Common Security and Account Agreement, (ii) with respect to the Phase 2 LNG Facility, prior to the Project Phase 2 Completion Date, Pre-Completion Revenues transferred from the Pre-Completion Revenues Account to the Construction Account or the Contingency Reserve Account in accordance with Section 4.5(b)(ii)(C) (*Deposits and Withdrawals –Pre-Completion Revenues Account*) of the Common Security and Account Agreement, and (iii) on and following the Project Phase 1 Completion Date, proceeds on deposit in the Revenue Account at the *eighth* or *eleventh* level of priority in the waterfall in Section 4.7 (*Cash Waterfall*) of the Common Security and Account Agreement to the extent permitted by Section 4.7(a)(viii) (*Cash Waterfall*) or 4.7(a)(xi) (*Cash Waterfall*) of the Common Security and Account Agreement, as applicable, and, in each case, applied towards such Project Costs);

&nbsp;&nbsp;&nbsp;&nbsp;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Cash Flow applied or committed to be applied to Development Expenditures that are not committed under the Base Case Forecast or otherwise committed to fund development of Project Costs (including (i) with respect to the Phase 1 Project Facilities, prior to the Project Phase 1 Completion Date, Pre-Completion Revenues transferred from the Pre-Completion Revenues Account to the Construction Account or the Contingency Reserve Account in accordance with Section 4.5(b)(ii)(C) (*Deposits and Withdrawals –Pre-Completion Revenues Account*) of the Common Security and Account Agreement, (ii) with respect to the Phase 2 LNG Facility, prior to the Project Phase 2 Completion Date, Pre-Completion Revenues transferred from the Pre-Completion Revenues Account to the Construction Account or the Contingency Reserve Account in accordance with Section 4.5(b)(ii)(C) (*Deposits and Withdrawals –Pre-Completion Revenues Account*) of the Common Security and Account Agreement, and (iii) on and following the Project Phase 1 Completion Date, proceeds on deposit in the Revenue Account at the *seventh* or *eleventh* level of priority in the waterfall in Section 4.7 (*Cash Waterfall*) of the Common Security and Account Agreement to the extent permitted by Section 4.7(a)(vii) (*Cash Waterfall*) or 4.7(a)(xi) (*Cash Waterfall*) of the Common Security and Account Agreement, as applicable, and, in each case, applied towards such Development Expenditures);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any Drawstop Equity Contributions, to the extent not reimbursed pursuant to Section 11.2(c) (*Certain Restricted Payments*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;following the Project Phase 1 Completion Date, Cash Flows applied towards other capital expenditures in respect of the Project Facilities; *provided* that, such Cash Flows following the Project Phase 1 Completion Date would qualify to be distributed as Restricted Payments based on meeting the conditions set forth in Section 11.1 (*Conditions to Restricted Payments*) of the Common Terms Agreement or are otherwise eligible to be used for Required Capital Expenditures.

"*Equity Interests*" 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 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.

"*ERISA*" means the Employee Retirement Income Security Act of 1974.

"*ERISA Affiliate*" means any Person, or trade or business that is a member of any group of organizations: (a) described in Section 414(b), (c), (m) or (o) of the Code of which the Borrower is a member and (b) solely for purposes of potential liability under Section 302(b) of ERISA and Section 412(b) of the Code and the

&nbsp;&nbsp;&nbsp;&nbsp;

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lien created under Section 303(k) of ERISA and Section 430(k) of the Code, described in Section 414(m) or (o) of the Code of which an Obligor is a member.

"*ERISA Event*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any "reportable event," as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan, other than events for which the 30-day notice period has been waived by current regulation under PBGC Regulation Subsections .27, .28, .29 or .31;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the failure with respect to any Plan to meet the minimum funding requirements of Section 412 or 430 of the Code or Section 302 or 303 of ERISA, whether or not waived;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the filing pursuant to Section 412(c) of the Code or Section 303 of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the incurrence by an Obligor or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the filing of notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the institution of proceedings to terminate a Plan by PBGC or to appoint a trustee to administer any Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the withdrawal by an Obligor or any of its ERISA Affiliates from a multiple employer plan (within the meaning of Section 4064 of ERISA) during a plan year in which it was a "substantial employer," as such term is defined under Section 4064 of ERISA, upon the termination of a Multiemployer Plan or the cessation of operations under a Plan pursuant to Section 4062(e) of ERISA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;the incurrence by an Obligor or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Multiemployer Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the attainment of any Plan of "at risk" status within the meaning of Section 430 of the Code or Section 303 of ERISA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;the receipt by an Obligor or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from an Obligor or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in critical, endangered or seriously endangered status, within the meaning of the Code or Title IV of ERISA;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;the failure of an Obligor or any ERISA Affiliate to pay when due any amount that has become liable to the PBGC, any Plan or trust established thereunder pursuant to Title IV of ERISA or the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;the adoption of an amendment to a Plan requiring the provision of security to such Plan pursuant to Section 436(f) of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;an Obligor engages in a "prohibited transaction" within the meaning of Section 4975 of the Code or Section 406 of ERISA that is not otherwise exempt by statute, regulation or administrative pronouncement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;the imposition of a lien under ERISA or the Code with respect to any Plan or Multiemployer Plan.

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

"*Event of Default*" means a Loan Facility Event of Default, an Indenture Event of Default or any comparable Obligor event of default under any other Senior Debt Instrument entered into after the date of the Common Security and Account Agreement.

"*Event of Loss*" means any event that causes any Project Facilities, or any portion thereof to be damaged, destroyed or rendered unfit for normal use for any reason whatsoever and, in each case, shall include an Event of Taking.

"*Event of Taking*" means any taking, seizure, confiscation, requisition, exercise of rights of eminent domain, public improvement, inverse condemnation, condemnation or similar action of or proceeding by any Governmental Authority relating to all or any part of the Project Facilities, the Development, any Equity Interests in the Obligors or any other part of the Security Interests.

"*Excess Capacity Quantity*" means an amount equal to (a) the quantity of LNG that the Phase 1 LNG Facility is then capable of producing *minus* (b) the Supplemental Quantity *minus* (c) the aggregate ACQ under the Required LNG SPAs with respect to the Phase 1 LNG Facility.

"*Excess Equity Proceeds Account*" means the account described in Section 4.3(a)(xvi) (*Accounts*) of the Common Security and Account Agreement.

"*Excluded Accounts*" means Excluded Unsecured Accounts and any escrow account established under each Material Project Agreement.

"*Excluded Assets*" has the meaning given in Section 3.2(f) (*Security Interests to be Granted by the Obligors* – *Excluded Assets*) of the Common Security and Account Agreement.

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"*Excluded Lender*" means any Facility Lender which has notified the applicable Facility Agent that it is subject to the Blocking Regulation and that it is an "Excluded Lender" for the purposes of Section 12.1 (*Use of Proceeds*), Section 12.6 (*Compliance with Law*), clauses (c) and (g) of Section 5.1 (*Initial Representations and Warranties of the Obligors*), and clauses (d)(ii) and (o) of Section 5.2 (*Repeated Representations and Warranties of the Obligors*). As of the Closing Date, and each of Norddeutsche Landesbank Girozentrale, New York Branch, Landesbank Baden-Württemberg, New York Branch, and Bayerische Landesbank, New York Branch is an Excluded Lender.

"*Excluded Swap Obligation*" means, with respect to any Obligor, any Swap Obligation if, and to the extent that, all or a portion of the guarantee of such Obligor of, or the grant by such Obligor of a security interest to secure, such Swap Obligation (or any guarantee 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 Obligor'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 guarantee of such Obligor or the grant of such security interest becomes effective with respect to such 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 guarantee or security interest is or becomes illegal.

"*Excluded Tax*" means any of the following Taxes imposed on or with respect to a Finance Party or required to be withheld or deducted from a payment to a Finance Party:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Finance Party being organized under the laws of, or having its principal office or, in the case of any Facility Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Facility Lender, US federal withholding Tax imposed on amounts payable to or for the account of such Facility Lender pursuant to a law in effect at the time such Facility Lender acquires an interest in a Loan or Facility Debt Commitment or designates a new lending office (other than pursuant to an assignment or new lending office designation request by the Borrower), except to the extent that such Facility Lender (or its assignor, if any) was entitled, at the time of such designation of a new lending office (or assignment), to receive additional amounts from the Borrower with respect to such withholding Tax pursuant to the Facility

&nbsp;&nbsp;&nbsp;&nbsp;

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Agreement provisions described in Section 21.1 (*Withholding Tax Gross-Up*) of the Common Terms Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Taxes attributable to a Facility Lender's failure to comply with the provisions described in Section 21.5 (*Status of Facility Lenders and Facility Agents*) of the Common Terms Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;withholding Taxes imposed under FATCA.

"*Excluded Unsecured Accounts*" has the meaning given in Section 3.2(f)(iv) (*Security Interests to be Granted by the Obligors* – *Excluded Assets*) of the Common Security and Account Agreement.

"*Existing Facility Lender*" has the meaning given in Section 19.6 (*Transfers by a Facility Lender*) of the Common Terms Agreement.

"*Expansion*" has the meaning given in Section 7.2 (*Expansion Contracts*) of the Common Terms Agreement.

"*Export Authorization*" means a long-term, multi-contract authorization issued by the DOE to export LNG from the LNG Facility, including the FTA Authorization and the Non-FTA Authorization.

"*Export Authorization Remediation*" has the meaning given in Section 8.2(a)(ii)(A) (*LNG SPA Mandatory Prepayment*) of the Common Terms Agreement.

"*External Expansion*" means any Expansion of the Project Facilities that is not a Permitted Internal Expansion.

"*External LNG/CCS Assets*" means one or more pipelines, trains, and related storage, loading and other ancillary infrastructure (including carbon capture and sequestration facilities), if any, constructed at or adjacent to the site of, the Development and are not owned by the Borrower or a Subsidiary of the Borrower.

"*External LNG/CCS Entity*" means the entity undertaking development of External LNG/CCS Assets.

"*ExxonMobil LNG*" means ExxonMobil LNG Asia Pacific (registered as ExxonMobil Asia Pacific Pte. Ltd.).

"*FAA (CP2 Phase 1 Pipe Rack Modules)"* means that certain Fabrication and Assembly Agreement (CP2 Phase 1 Pipe Rack Modules), dated as of May 5, 2025, by and between PCI and the Procurement Company (as assignee of the Borrower, pursuant to the Assignment and Assumption Agreement, dated as of June 17, 2025), as supplemented by the Amended and Restated Limited Notice to Proceed No.1, dated as of May 15, 2025.

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"*FAA (CP2 Phase 1 Pre-Treatment Modules)*" means that certain Fabrication and Assembly Agreement (CP2 Phase 1 Pre-Treatment Modules), dated as of March 24, 2025, between PCI and the Procurement Company (as assignee of the Borrower, pursuant to the Assignment and Assumption Agreement, dated as of June 17, 2025), as modified by Change Order No. 1, dated as of July 7, 2025.

"*Fabrication and Assembly Agreements*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;FAA (CP1 Phase 1 Pre-Treatment Modules); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;FAA (CP2 Phase 1 Pipe Rack Modules).

"*Facility Agent*" means the facility agent under any Facility Agreement.

"*Facility Agreements*" means the Credit Facility Agreement and any individual loan facility agreements (not including any Indenture or facility agreement for a "term loan B" financing that the Borrower has elected to treat as an Indenture) evidencing permitted Replacement Debt, Working Capital Debt, after the Project Phase 2 FID Conditions Satisfaction Date, Project Phase 2 Development Debt, after the satisfaction of the Permitted Internal Expansion Conditions in accordance with Section 7.4 (*Permitted Internal Expansion*), Permitted Internal Expansion Debt, and/or after the satisfaction of the applicable conditions in Section 6.6 (*Supplemental Debt*), *pari passu* Permitted Relevering Debt, Permitted Completion Senior Debt, PDE Senior Debt, and/or Restoration Debt (and for which the Facility Agents have acceded to the Common Terms Agreement and to the Common Security and Account Agreement), in each case as required thereby, and "*Facility Agreement*" shall have a corresponding meaning.

"*Facility Debt Commitment*" means the aggregate principal amount of Loans and letters of credit any Facility Lender is committed to disburse to or issue on behalf of the Borrower under any Facility Agreement.

"*Facility Debt Obligations*" means the Senior Debt Obligations arising under the Facility Agreements.

"*Facility Lenders*" means the Credit Facility Lender Parties and the lenders and issuing banks under any other Facility Agreements entered into after the Closing Date, and "*Facility Lender*" shall have a corresponding meaning.

"*Fair Labor Standards Act*" means the Fair Labor Standards Act of 1938.

"*FATCA*" means Sections 1471 through 1474 of the Code, as of the Closing Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreement, treaty or convention

&nbsp;&nbsp;&nbsp;&nbsp;

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entered into in connection with the implementation of such Sections of the Code and any fiscal or regulatory legislation, rules or official practices adopted pursuant to such intergovernmental agreement and implementing any of the foregoing.

"*Federal Reserve Bank*" means each of the 12 Reserve Banks under the United States Federal Reserve System, or any successor thereto.

"*Federal Reserve Board*" means the Board of Governors of the United States Federal Reserve System, or any successor thereto.

"*Fee Letters*" means the Intercreditor Agency Fee Letter, the Account Bank Fee Letter, the Collateral Agency Fee Letter, the Credit Facility Agency Fee Letter, the Documentation Bank Fee Letter, the fee letter with the initial Lenders, dated as of July 24, 2025, the Hedge Coordinator Fee Letter, the Syndication Agent Fee Letter and any other similar fee letter, fee agreement or other fee arrangement between an Obligor and a Facility Agent, or between an Obligor and any of the Account Bank, Intercreditor Agent, Collateral Agent, Credit Facility Agent or other Facility Agent or Facility Lender that may be entered into from time to time after the date of the Common Security and Account Agreement.

"*FERC*" means the US Federal Energy Regulatory Commission.

"*FERC Order*" means the order, 187 FERC ¶ 61,199, issued by the FERC in Docket Nos. CP22-21 and CP22-22 on June 27, 2024, authorizing, inter alia, the siting, construction and operation of the LNG Facility and the CP Express Pipeline, as modified in part in the order on rehearing, 189 FERC ¶ 61,148, issued by the FERC in those dockets on November 27, 2024, and the second order on rehearing, 191 FERC ¶ 61,153, issued by FERC in those dockets on May 23, 2025, as it may be amended or modified in the future.

"*Final Completion*" has the meaning given in the Phase 1 EPC Contract.

"*Final Maturity Date*" means, with respect to each of the Facility Agreements, the date on which all Senior Debt under such Facility Agreement comes due, whether upon acceleration or otherwise.

"*Finance Documents*" means, together, each of the following documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Common Terms Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Common Security and Account Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the individual Facility Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any Indenture;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Security Documents;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the Direct Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the Senior Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;the Intercreditor Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Fee Letters and any other fee letters with parties providing financing (other than any Equity Funding);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;any Permitted Senior Debt Hedging Instrument;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;as of the Closing Date, any other document that expressly provides therein that such document is a Finance Document; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;any other document the Intercreditor Agent (acting on the instructions of the Requisite Intercreditor Parties) designates, with the consent of the Borrower (such consent not to be unreasonably withheld), a Finance Document;

*provided* that, when used with respect to the Facility Lenders, such term shall not include any Indenture or Senior Notes and when used with respect to the Senior Notes, such term shall not include the Common Terms Agreement, Facility Agreement or any other Finance Document to which the Indenture Trustee is not a party or under which security is not intended to be granted for the benefit of the Senior Notes.

"*Finance Party*" means each Facility Lender, the Intercreditor Agent, the Collateral Agent, each Senior Creditor Group Representative (in its own right and in its capacity as agent), each Hedging Bank and the Account Bank.

"*First of Month Index*" means a price which represents the most commonly traded fixed price at a major trading point and as published by Inside FERC Gas Market Report ("*IFERC*" or any successor publication widely used to establish index pricing in the US natural gas trading market).

"*First Repayment Date*", with respect to the Credit Facility Agreement, has the meaning given in the Credit Facility Agreement.

"*Fitch*" means Fitch Ratings Ltd. or any successor thereto.

"*Fixed Facility Charge*" has the meaning given in the applicable LNG SPA.

"*Fixed-Floating Futures Swap*" means a contract which entitles the buyer of the contract to pay a fixed price for natural gas and the seller to pay a floating price equal to the final settlement price of the Futures Contract settlement prices. The Fixed-Floating Futures Swap shall be settled financially, via exchange of cash

&nbsp;&nbsp;&nbsp;&nbsp;

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payment at the expiration of the underlying Futures Contract, rather than physically.

"*Fixed Projected DSCR*" means, for each Quarterly Payment Date during the applicable measurement period beginning no earlier than the First Repayment Date, the ratio of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Cash Flow Available for Debt Service projected for such period, calculated solely to reflect (i) the Fixed Facility Charge under each of the Qualifying LNG SPAs then in effect, (ii) expected interest and investment earnings paid to the Obligors during such period, (iii) amounts expected to be paid to the Obligors during such period as Business Interruption Insurance Proceeds and (iv) the fixed expenses that could reasonably be expected to be incurred by the Obligors if the Material Project Counterparties were not lifting any cargoes under the Qualifying LNG SPAs; to

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Debt Service projected to be paid in such period (taking into account Permitted Hedging Instruments) (other than (i) pursuant to voluntary prepayments or mandatory prepayments, (ii) Senior Debt due at maturity, (iii) Working Capital Debt and (iv) Hedging Termination Amounts).

"*Flood Certificate*" has the meaning given in Section 4.1(t)(i) (*Conditions to Closing Date and Initial Advance – Flood Insurance*) of the Common Terms Agreement.

"*Flood Program*" has the meaning given in Section 4.1(t)(i)(C) (*Conditions to Closing Date and Initial Advance – Flood Insurance*) of the Common Terms Agreement.

"*FOB*" means Free on Board as defined in Incoterms 2010.

"*FTA Authorization*" means the Order Granting Long-Term Authorization to Export LNG to Free Trade Agreement Nations issued by DOE/FECM in FE Docket No. 21-131-LNG in its Order No. 4812 on April 22, 2022, as it may be amended or modified in the future.

"*Fund*" means any Person that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit.

"*Funding Losses*" under a Facility Agreement means those losses, expenses or liabilities in respect of Loans incurred by the respective Facility Lenders under such Facility Agreement that the Borrower is required to compensate such Facility Lenders in respect of thereunder.

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"*Futures Contract*" means a contract which entitles the buyer of the contract to claim physical delivery of natural gas from the seller at a specified contract delivery point at a specified date in the future and entitles the seller to deliver the physical commodity to the buyer under the same conditions. The price between the buyer and the seller shall be transacted at the price of final settlement on a monthly basis.

"*GAAP*" means generally accepted accounting principles in the jurisdiction in which the relevant party's financial statements are prepared or International Accounting Standards/International Financial Reporting Standards, as in effect from time to time.

"*Gas*" means any hydrocarbon or mixture of hydrocarbons consisting essentially of methane and other paraffinic hydrocarbons and non-combustible gases in a gaseous state.

"*Gas Hedge Provider*" means any party (other than the Obligors or their Affiliates) that is a party to a Gas Hedging Instrument that is secured pursuant to the Security Documents.

"*Gas Hedging Instruments*" means Gas swaps, options contracts, futures contracts, options on futures contracts, caps, floors, collars or any other similar arrangements entered into by any Obligor related to movements in Gas prices.

"*Government Rule*" means any statute, law, regulation, ordinance, rule, judgment, order, decree, directive, requirement of, or other governmental restriction or any similar binding form of decision of or determination by, or any interpretation or administration of any of the foregoing by, any Governmental Authority, including all common law, which is applicable to any Person, whether now or hereafter in effect.

"*Governmental Authorities*" means all supra-national, federal, state and local authorities or bodies including in each case any and all agencies, branches, departments and administrative and other subdivisions thereof, and all officials, agents and representatives of each of the foregoing, and "*Governmental Authority*" shall have a corresponding meaning.

"*Guarantors*" means, collectively or individually, as the context may require, the Pipeline Company and the Procurement Company, and any Subsidiary of the Borrower that accedes to the Common Security and Account Agreement from time to time as permitted under the Finance Documents then in effect as a Guarantor for the benefit of all Senior Creditors, pursuant to Section 11.15 (*Additional Guarantors*) of the Common Security and Account Agreement; *provided* that, CFCo shall not be required to become a Guarantor.

"*Guarantor Interests*" means the Equity Interests in the Guarantors.

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"*Hague Securities Convention*" means the Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary (concluded July 5, 2006), which became effective in the United States on April 1, 2017.

"*Hazardous Materials*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;petroleum or petroleum byproducts, flammable materials, explosives, radioactive materials, friable asbestos, urea formaldehyde foam insulation and polychlorinated biphenyls;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any chemicals, other materials, substances or wastes that are now or hereafter become defined as or included in the definition of "hazardous substances," "hazardous wastes," "hazardous materials," "extremely hazardous wastes," "restricted hazardous wastes," "toxic substances," "toxic pollutants," "contaminants," "pollutants" or words of similar import under any Environmental Law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any other chemical, material, substance or waste that is now or hereafter regulated under or with respect to which liability may be imposed under Environmental Laws.

"*Hedge Coordinator Fee Letter*" means the fee letter entered into between the Borrower, the Guarantors and JPMorgan Chase Bank, N.A. in respect of its services to be performed as hedge coordinator.

"*Hedging Bank*" means a Person that is a counterparty to a Permitted Hedging Instrument with the Borrower and that has entered into or that accedes to the Common Security and Account Agreement, and is as of the date of entry into or assignment or novation of any Permitted Hedging Instrument (or, with respect to any Anticipatory Hedge or assignment or novation thereof, as of the Closing Date or as of the date of assignment or novation), any of the following: (a) any Senior Creditor, lead arranger or agent, as of the date of the Common Terms Agreement or as of such date, or (b) any Affiliate of any Person listed in the foregoing clause (a) of this definition.

"*Hedging Excess Amount*" has the meaning given in Section 12.22(c) *(Hedging Arrangements*) of the Common Terms Agreement.

"*Hedging Instruments*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Hedging Instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Gas Hedging Instruments; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;such other derivative transactions of a similar nature that any Obligor enters into to hedge risks of any commercial nature.

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"*Hedging Termination Amount*" means any Permitted Hedging Liability due as a result of the termination of a Permitted Hedging Instrument and/or the termination of any transaction entered into thereunder.

"*Historical DSCR*" means, for each applicable measurement period, the ratio of (a) Cash Flow Available for Debt Service for such measurement period to (b) Debt Service for such measurement period (other than (i) pursuant to voluntary prepayments or mandatory prepayments, (ii) Senior Debt due at maturity, (iii) Working Capital Debt and (iv) Hedging Termination Amounts); *provided* that, in respect of any measurement period occurring prior to the first full year after the Project Phase 1 Completion Date, each of clauses (a) and (b) shall be calculated on an annualized basis for such measurement periods.

"*Holder*" of a Senior Debt Obligation shall be determined by reference to the provisions of the relevant Senior Debt Instrument or Permitted Senior Debt Hedging Instrument, as applicable, setting forth who shall be deemed to be lenders, creditors, holders or owners of the debt obligation governed thereby.

"*IFC Performance Standards*" means the Performance Standards on Environmental and Social Sustainability promulgated by the International Finance Corporation (January 1, 2012).

"*Illegality Event*" has the meaning given in Section 19.5(b) (*Mitigation Obligations; Replacement of Lenders*) of the Common Terms Agreement.

"*Impairment*" means, with respect to any Permit:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the rescission, revocation, staying, withdrawal, early termination, cancellation, repeal or invalidity thereof or otherwise ceasing to be in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the suspension or injunction thereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the inability to satisfy in a timely manner its stated conditions to effectiveness.

"*Impair*" and "*Impaired*" shall have a corresponding meaning.

"*In-Construction Sufficiency Condition*" means, as of any date of testing, (a) the funds available or reasonably expected to be available to the Obligors (including: (i) the remaining undrawn amount of the Facility Debt Commitments and/or the proceeds of any Replacement Debt to be deposited into the Construction Account, (ii) funds on deposit in the Construction Account (including any Equity Funding remaining on deposit in the Construction Account), the Contingency Reserve Account, the Pre-Completion Revenues Account, the Disbursement Accounts and the Permitted Finance Costs Reserve Account, and (iii) the Phase 1 Minimum

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Assumed Commissioning Cargo Proceeds) are equal to or exceed (b) the then-current remaining Project Costs for the Project to achieve the Phase 1 Project Completion Date on or prior to the Phase 1 LNG Facility Date Certain (it being acknowledged that any funds on deposit in any Account and used to satisfy the In-Construction Sufficiency Condition of the Phase 1 Project Facilities shall be used solely in respect of the Phase 1 Project Facilities).

"*Indebtedness*" of any Person, at any date, means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all obligations to repay borrowed money;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all obligations to pay money evidenced by bonds, debentures, notes, banker's acceptances, loan agreements or other similar instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all obligations to pay the deferred purchase price of property or services (excluding current accounts payable incurred in the ordinary course of business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all capital lease obligations of such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;all obligations, contingent or otherwise, issued for the account of such Person, in respect of letters of credit, bank guarantees, surety bonds, letters of guarantee and similar instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all obligations of such Person under any Hedging Instruments (including any Hedging Termination Amounts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;all guarantees by such Person of Indebtedness of others;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;any obligations of such Person to purchase or repurchase securities or other property which arises out of or in connection with the sale of the same or substantially similar securities or property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;all obligations under conditional sale or other title retention agreements related to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of property or are otherwise limited in recourse);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;all obligations to purchase, redeem, retire, defease or otherwise make any payment in respect of any Equity Interests of such Person or any other Person or any warrants, rights or options to acquire such equity interests,

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which in the case of redeemable preferred interests, being valued at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;all Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person's ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor.

"*Indemnified Taxes*" means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of an Obligor under or in connection with any Finance Document (other than any Indenture or Senior Notes) and (b) to the extent not otherwise described in clause (a) of this definition, Other Taxes.

"*Indenture*" means any indenture to be entered into between the Borrower and the Indenture Trustee pursuant to which one or more series of Senior Notes will be issued, or, at the Borrower's option, a facility agreement for a "term loan B" financing, pursuant to which Senior Debt will be incurred. No reference in any Finance Document to an Indenture or the Senior Notes or a "term loan B" shall mean or imply that entry into an Indenture or issuance of the Senior Notes or entry into a "term loan B" is required. For the avoidance of doubt, if at any time Senior Notes have not been issued or are not outstanding and there is no "term loan B", any reference to satisfaction of the requirements of any Indenture or Senior Notes or the "term loan B" (and any reference to an Indenture Trustee) shall be ignored.

"*Indenture Declared Default*" means an Indenture Event of Default which is declared by the Indenture Trustee (acting on behalf of the Senior Noteholders in accordance with such Indenture) to be an event of default under an Indenture or is otherwise deemed to have been declared to be an event of default in accordance with the terms of the Indenture.

"*Indenture Event of Default*" means any of the events of default set out in an Indenture and defined as "Indenture Events of Default."

"*Indenture Projected Fixed DSCR*" has the meaning given in the applicable Indenture.

"*Indenture Trustee*" means any trustee appointed in the role of indenture trustee under any Indenture or, with respect to a "term loan B" financing that the Borrower has elected to be treated as an Indenture, any administrative or other facility agent.

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"*Independent Accountants*" means any independent firm of accountants of recognized standing in the relevant jurisdiction.

"*Independent Engineer*" means Lummus Consultants International LLC or any replacement independent engineering consulting firm selected in accordance with Section 13.2 (*Replacement and Fees*) of the Common Terms Agreement.

"*Index Swap*" means a contract which entitles the buyer of the contract to pay one index price (*e.g.* First of Month Index) and entitles the seller to pay a different index price (*e.g.* the daily average). The index swap is settled financially via exchange of cash payment at the expiration of the underlying Futures Contract.

"*Individual Senior Noteholder Secured Accounts*" has the meaning given in Section 3.2(c) (Security Interests to be Granted by the Obligors – Security Interests – Individual Senior Noteholder Secured Accounts) of the Common Security and Account Agreement.

"*Industry Standards*" means the technical standards promulgated by the American Petroleum Institute, the American Gas Association, the American Society of Mechanical Engineers, the ASTM (formerly the American Society for Testing and Materials), or the National Fire Protection Association (NFPA).

"*Initial Advance*" means the first Advance of the Term Loans on the Closing Date following the satisfaction or waiver of the conditions precedent in Sections 4.1 (*Conditions to Closing Date and Initial Advance*) and 4.2 (*Conditions to Each Term Loan Advance*) of the Common Terms Agreement in accordance with Section 4.4 (*Satisfaction of Conditions*) of the Common Terms Agreement.

"*Initial Coordinating Lead Arranger*" has the meaning given in Exhibit A (*Definitions*) to the Credit Facility Agreement.

"*Initial Permitted Senior Debt Hedging Instrument*" means each Permitted Senior Debt Hedging Instrument identified as such in Schedule C (*List of Senior Creditors, Senior Creditor Group Representatives, Senior Debt Commitments / Obligations, Senior Debt Instruments / Permitted Senior Debt Hedging Instruments, Addresses for Notice and Facility Lenders Facility Office*) to the Common Security and Account Agreement as of the Closing Date.

"*Initial Senior Creditor*" means each Senior Creditor under an Initial Senior Debt Instrument or an Initial Permitted Senior Debt Hedging Instrument as set forth in Schedule C (*List of Senior Creditors, Senior Creditor Group Representatives, Senior Debt Commitments / Obligations, Senior Debt Instruments / Permitted Senior Debt Hedging Instruments, Addresses for Notice and Facility Lenders Facility Office*) to the Common Security and Account Agreement as of the Closing Date.

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"*Initial Senior Creditor Group Representative*" means a Senior Creditor Group Representative that is a party to the Common Terms Agreement as of the date of its execution and which is identified as such on Schedule C (*List of Senior Creditors, Senior Creditor Group Representatives, Senior Debt Commitments / Obligations, Senior Debt Instruments / Permitted Senior Debt Hedging Instruments, Addresses for Notice and Facility Lenders Facility Office*) to the Common Security and Account Agreement.

"*Initial Senior Debt*" means the Senior Debt Obligations committed or owing under the Credit Facility Agreement as of the Closing Date.

"*Initial Senior Debt Commitments*" means the Senior Debt Commitments identified as such in Schedule C (*List of Senior Creditors, Senior Creditor Group Representatives, Senior Debt Commitments / Obligations, Senior Debt Instruments / Permitted Senior Debt Hedging Instruments, Addresses for Notice and Facility Lenders Facility Office*) to the Common Security and Account Agreement as of the Closing Date.

"*Initial Senior Debt Instrument*" means each Senior Debt Instrument identified as such in Schedule C (*List of Senior Creditors, Senior Creditor Group Representatives, Senior Debt Commitments / Obligations, Senior Debt Instruments / Permitted Senior Debt Hedging Instruments, Addresses for Notice and Facility Lenders Facility Office*) to the Common Security and Account Agreement as of the Closing Date.

"*Initial Senior Debt Obligations*" means the Senior Debt Obligations under the Initial Senior Debt Instruments.

"*Initiating Percentage*" means Senior Creditor Group Representatives representing the following percentages of the principal amount of Senior Debt Obligations outstanding during the following periods (or, if no Senior Debt is outstanding, commitments in respect thereof):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any Payment Default:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;at least 66.7% prior to 30 days following the occurrence of a Payment Default or the declaration thereof, as the case may be;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;greater than 50% on or after 30 days and prior to 120 days following the occurrence of a Payment Default or the declaration thereof, as the case may be; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the lesser of $200 million or 5% of the outstanding Senior Debt held by any individual Senior Creditor Group, on or after 120 days following the occurrence of a Loan Facility Event of Default or an

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Indenture Event of Default (as applicable) or the declaration thereof, as the case may be; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any other Event of Default:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;at least 66.7% on or prior to 30 days following the occurrence of a Loan Facility Event of Default or an Indenture Event of Default (as applicable) or the declaration thereof, as the case may be;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;greater than 50% on or after 30 days and prior to 180 days following the occurrence of a Loan Facility Event of Default or an Indenture Event of Default (as applicable) or the declaration thereof, as the case may be; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the lesser of $200 million or 5% of the outstanding Senior Debt held by any individual Senior Creditor Group, on or after 180 days following the occurrence of a Loan Facility Event of Default or an Indenture Event of Default (as applicable) or the declaration thereof, as the case may be.

"*Inpex*" means Inpex Energy Trading Singapore Pte. Ltd.

"*Insurance*" means (a) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (b) any key man life insurance policies.

"*Insurance Advisor*" means Moore-McNeil, LLC or any independent replacement insurance consulting firm to be selected in accordance with Section 13.2 (*Replacement and Fees*) of the Common Terms Agreement.

"*Insurance/Condemnation Proceeds Account*" is the account described in Section 4.3(a)(x) (*Accounts*) of the Common Security and Account Agreement.

"*Insurance Proceeds*" means all proceeds of any insurance policies required pursuant to the Schedule of Minimum Insurance or otherwise obtained with respect to the Development that are paid or payable to or for the account of the Obligors as loss payee (other than Business Interruption Insurance Proceeds and proceeds of insurance policies relating to third party liability).

"*Intellectual Property*" means the collective reference to all rights, priorities and privileges relating to intellectual property, whether arising under the United States, multinational or foreign laws or otherwise, including Copyrights, Copyright Licenses, Patents, Patent Licenses, Trademarks, Trademark Licenses, Trade Secrets, and Trade Secret Licenses, and all rights to sue or otherwise recover for any past, present and future infringement, dilution, misappropriation, or other violation or impairment thereof, including the right to receive all

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proceeds therefrom, including license fees, royalties, income, payments, claims, damages and proceeds of suit, now or hereafter due and/or payable with respect thereto.

"*Intercreditor Agent*" means the intercreditor agent appointed pursuant to the Intercreditor Agreement.

"*Intercreditor Agency Fee Letter*" means the fee letter entered into between the Borrower, the Guarantors and the Intercreditor Agent in respect of the fees payable to the Intercreditor Agent in respect of its services to be performed as more fully described in the Common Security and Account Agreement and the other Security Documents.

"*Intercreditor Agreement*" means the Intercreditor Agreement, dated as of the Closing Date, among the Intercreditor Agent, the Collateral Agent and the Facility Agents and Hedging Banks party thereto from time to time, setting forth the appointment of the Intercreditor Agent and setting forth voting and certain intercreditor arrangements among all Facility Lenders and Hedging Banks.

"*Interest Rate Hedging Instrument*" means interest rate swaps, option contracts, futures contracts, options on futures contracts, caps, floors, collars or any other similar arrangements entered into by the Borrower related to interest rates.

"*International LNG Terminal Standards*" means, to the extent not inconsistent with the express requirements of the Common Terms Agreement, the international standards and practices applicable to the design, construction, equipment, operation or maintenance of LNG receiving, exporting, liquefaction and regasification terminals, established by the following (such standards to apply in the following order of priority): (a) a Governmental Authority having jurisdiction over any Obligor, (b) the Society of International Gas Tanker and Terminal Operators ("*SIGTTO*") (or any successor body of the same) and (c) any other internationally recognized non-governmental agency or organization with whose standards and practices it is customary for reasonable and prudent operators of LNG receiving, exporting, liquefaction and regasification terminals to comply. In the event of a conflict between any of the priorities noted above, the priority with the alphabetical priority noted above shall prevail.

"*International LNG Vessel Standards*" means, to the extent not inconsistent with the express requirements of the Common Terms Agreement, the international standards and practices applicable to the ownership, design, equipment, operation or maintenance of LNG vessels established by: (a) the International Maritime Organization, (b) the Oil Companies International Marine Forum, (c) SIGTTO (or any successor body of the same), (d) the International Navigation Association, (e) the International Association of Classification Societies, and (f) any other internationally recognized agency or nongovernmental organization with whose standards and practices it is customary for reasonable and prudent operators of

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LNG vessels to comply. In the event of a conflict between any of the priorities noted above, the priority with the alphabetical priority noted above shall prevail.

"*Investments*" means as to any Person, any direct or indirect investment by such Person, including by means of (a) the purchase or other acquisition of Equity Interests or debt or other securities of another Person, (b) a 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 contribution to, guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person or (c) the purchase or other acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person.

"*Investment Company Act*" means the United States Investment Company Act of 1940.

"*Investment Grade*" means two long-term unsecured credit ratings that are equal to or better than (a) Baa3 by Moody's, (b) BBB**-** by S&P, (c) BBB**-** by Fitch, or (d) any comparable credit ratings by any other nationally recognized statistical rating organizations.

"*Investment Grade LNG Buyer*" means an LNG Buyer that (a) is Investment Grade, (b) has its obligations guaranteed by an Investment Grade entity or (c) for the purposes of LNG SPAs in Section 8.1(a) (*LNG SPA Maintenance*), Section 8.2(a)(i) (*LNG SPA Mandatory Prepayment*) or Section 11.1 (*Conditions to Restricted Payments*) of the Common Terms Agreement, has all of its obligations under the applicable LNG SPA supported by a letter of credit issued by an Acceptable Bank.

"*Issuance Request Form*" means a Disbursement Request for issuance of letter(s) of credit, substantially in the form set forth in Schedule B-3 (*Issuance Request Form (Letters of Credit)*) to the Common Terms Agreement (or equivalent under another Senior Debt Instrument), given by the Borrower in accordance with the terms of the applicable Facility Agreement.

"*Issuing Banks*" has the meaning given to it in Exhibit A (*Definitions*) to the Credit Facility Agreement.

"*JERA*" means JERA Co., Inc.

"*Judgment Currency*" has the meaning given in Section 12.3 (*Judgment Currency*) of the Common Security and Account Agreement.

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"*Knowledge*" means, with respect to any of the Obligors, the actual or constructive knowledge of any Person holding any of the positions (or successor position to any such position) set forth in Schedule T (*Knowledge Parties*) to the Common Terms Agreement; *provided* that, each such Person shall be deemed to have knowledge of all events, conditions and circumstances described in any notice delivered to the Borrower pursuant to the terms of the Common Terms Agreement or any other Finance Document. "*Knowingly*" shall have a corresponding meaning.

"*LC Costs*" means (a) fees, expenses and interest associated with Working Capital Debt and (b) any reimbursement by an Obligor of amounts paid under a letter of credit that is Working Capital Debt for expenditures that if paid by such Obligor directly would have constituted Operation and Maintenance Expenses.

"*LC Reimbursement Payment*" has the meaning assigned to such term in the Credit Facility Agreement.

"*Leases*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and between JADP Venture, LLC and the Borrower, dated as of December 12, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and between JADP Venture, LLC and the Borrower, dated as of December 12, 2023, and recorded December 13, 2023, as Conveyance Instrument No. 356552, as amended by that certain First Amendment to Notice of Ground Lease Agreement dated July 17, 2025, recorded July 21, 2025 as Conveyance Instrument No. 360631, all in the official records of Cameron Parish, Louisiana (PARCEL C-2);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and between Henry Venture, LLC and the Borrower (as assignee of CP Marine Offloading LLC, pursuant to that certain Assignment of Ground Lease Agreement by and between CP Marine Offloading, LLC (as assignee of Venture Global Calcasieu Pass, LLC pursuant to that certain Assignment of Ground Lease Agreement by and between Venture Global Calcasieu Pass, LLC and CP Marine Offloading, LLC dated as of March 20, 2019, and recorded March 21, 2019, as Conveyance Instrument No. 345015) and the Borrower dated as of November 17, 2023, and recorded November 20, 2023, as Conveyance Instrument No. 356358) dated as of March 11, 2019, as evidenced by that certain Notice of Ground Lease with Right of First Refusal by and between Henry Venture, LLC and the Borrower (as assignee of CP Marine Offloading LLC, pursuant to that certain Assignment of Ground Lease Agreement by and between CP Marine Offloading, LLC (as assignee of Venture Global Calcasieu Pass, LLC pursuant to that certain Assignment of Ground Lease Agreement by and between Venture Global Calcasieu Pass, LLC and CP Marine Offloading,

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LLC dated as of March 20, 2019, and recorded March 21, 2019, as Conveyance Instrument No. 345015) and the Borrower dated as of November 17, 2023, and recorded November 20, 2023, as Conveyance Instrument No. 356358) dated as of March 11, 2019, and recorded March 18, 2019, as Conveyance Instrument No. 344981, which Notice of Ground Lease was amended by that certain First Amendment to Notice of Ground Lease Agreement with Right of First Refusal dated July 17, 2025, recorded July 21, 2025 as Conveyance Instrument No. 360630, all in the official records of Cameron Parish, Louisiana (PARCELS D, E, AND F2);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;that certain Servitude by Henry Venture, LLC, as lessor, to the Borrower, as lessee, dated as of December 18, 2023, and recorded December 21, 2023, as Conveyance Instrument No. 356623, as affected by that certain Act of Correction to Servitude by Henry Venture, LLC and the Borrower dated April 9, 2025 and recorded April 9, 2025 as Conveyance Instrument No. 359704, all in the official records of Cameron Parish, Louisiana (PARCELS I, K, AND A PORTION OF DAVIS ROAD ADJACENT THERETO);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and between Wilma Davis Bride Family, LLC and the Borrower, dated as of October 12, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and between Wilma Davis Bride Family, LLC and the Borrower, dated as of October 12, 2023, and recorded October 12, 2023, as Conveyance Instrument No. 356114, as amended by that certain First Amendment to Notice of Ground Lease Agreement dated July 11, 2025, recorded July 11, 2025, as Conveyance Instrument No. 360548, all in the official records of Cameron Parish, Louisiana (PARCEL O);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and between Ardoin Henry, LLC and the Borrower, dated as of October 12, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and between Ardoin Henry, LLC and the Borrower, dated as of October 12, 2023, and recorded October 12, 2023, as Conveyance Instrument No. 356115, as amended by that certain First Amendment to Notice of Ground Lease Agreement dated July 24, 2025, recorded July 24, 2025 as Conveyance Instrument No. 360675, all in the official records of Cameron Parish, Louisiana (PARCEL P);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and between Miller Estate Leasing Company, LLC and the Borrower, dated as of October 12, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and between Miller Estate Leasing Company, LLC and the Borrower, dated as of October 12, 2023, and recorded October 13, 2023, as Conveyance Instrument No. 356120, as amended by that certain First Amendment to

&nbsp;&nbsp;&nbsp;&nbsp;

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Notice of Ground Lease Agreement dated July 21, 2025, recorded July 21, 2025 as Conveyance Instrument No. 360639, all in the official records of Cameron Parish, Louisiana (PARCELS R AND T);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower, dated as of September 29, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower, dated as of September 29, 2023, and recorded September 28, 2023, as Conveyance Instrument No. 356011, as amended by that certain First Amendment to Notice of Ground Lease Agreement dated July 11, 2025, recorded July 11, 2025, as Conveyance Instrument No. 360549, all in the official records of Cameron Parish, Louisiana (PARCEL S);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and among Charlotte Ann LaBove, Carlotta Ann Savoie, and the Borrower, dated as of October 12, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and among Charlotte Ann LaBove, Carlotta Ann Savoie, and the Borrower, dated as of October 12, 2023, and recorded October 13, 2023, as Conveyance Instrument No. 356121 and File No. 356117, as amended by that certain First Amendment to Notice of Ground Lease Agreement dated July 17, 2025, recorded July 21, 2025 as Conveyance Instrument No. 360629, all in the official records of Cameron Parish, Louisiana (PARCELS U AND V);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and between Cameron Parish Port, Harbor and Terminal District and the Borrower, dated as of October 24, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and between Cameron Parish Port, Harbor and Terminal District and the Borrower, dated as of October 24, 2023, and recorded October 30, 2023, as Conveyance Instrument No. 356182, as effected by that certain Partial Assignment of Ground Lease Agreement dated as of July 7, 2025, and recorded July 8, 2025, as File No. 360524, as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 17, 2025, recorded July 21, 2025 as Conveyance Instrument No. 360632, all in the official records of Cameron Parish, Louisiana (PARCEL X);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and between Wilma Davis Bride Family, LLC and the Borrower (as assignee pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359694) dated as of October 30, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and between Wilma Davis Bride Family, LLC and the Borrower (as assignee pursuant to that certain Assignment of Ground Lease Agreement

&nbsp;&nbsp;&nbsp;&nbsp;

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by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359694) dated as of October 30, 2023, and recorded November 13, 2023, as Conveyance Instrument No. 356283, as amended by that certain First Amendment to Ground Lease Agreement dated June 6, 2025 as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated June 6, 2025, recorded June 6, 2025 as Conveyance Instrument No. 360239, as evidenced by that certain Second Amendment to Notice of Ground Lease Agreement dated July 11, 2025, recorded July 11, 2025 as Conveyance Instrument No. 360550, all in the official records of Cameron Parish, Louisiana (PARCEL EE);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and among Donald Maurice Drost, Daniel Kenneth Drost, William David Drost, and the Borrower (as assignee of Cameron Land Ventures, LLC, pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359695) dated as of October 30, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and among Donald Maurice Drost, Daniel Kenneth Drost, William David Drost, and the Borrower (as assignee of Cameron Land Ventures, LLC, pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359695) dated as of October 30, 2023, and recorded November 13, 2023, as Conveyance Instrument No. 356284, as amended by that certain First Amendment to Ground Lease Agreement dated July 17, 2025 as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 17, 2025, recorded July 22, 2025 as Conveyance Instrument No. 360664, all in the official records of Cameron Parish, Louisiana (PARCEL GG);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;that certain Ground Lease Agreement by and between Dallas Clyde Pichnic, Jr. and the Borrower (as assignee of Cameron Land Ventures, LLC pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359696) dated as of October 30, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and between Dallas Clyde Pichnic, Jr. and the Borrower (as assignee of Cameron Land Ventures, LLC pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359696) dated as of October 30, 2023, and recorded November 13, 2023, as Conveyance Instrument No. 356285, as amended by that certain First Amendment to

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Ground Lease Agreement dated July 21, 2025, as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 21, 2025, recorded July 21, 2025 as Conveyance Instrument No. 360640, all in the official records of Cameron Parish, Louisiana (PARCEL II); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by and among Marjorie Pichnic Rorex, Tamara Lynn Rorex, Shane Wyatt Rorex, and the Borrower (as assignee of Cameron Land Ventures, LLC pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359697) dated as of October 30, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and among Marjorie Pichnic Rorex, Tamara Lynn Rorex, Shane Wyatt Rorex, and the Borrower (as assignee of Cameron Land Ventures, LLC pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359697) dated as of October 30, 2023, and recorded November 13, 2023, as Conveyance Instrument No. 356286, as amended by that certain First Amendment to Ground Lease Agreement dated July 24, 2025 as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 24, 2025, recorded July 24, 2025 as Conveyance Instrument No. 360676, all in the official records of Cameron Parish, Louisiana. (PARCEL JJ).

"*Lenders*" has the meaning given in Section 23.20 (*No Fiduciary Duty*) of the Common Terms Agreement.

"*Lenders' Reliability Test*" means a 90-day test which demonstrates that the Phase 1 Project Facilities' overall production during the applicable time periods can meet the applicable minimum cumulative LNG production volumes without exceeding a maximum amount of allowable downtime, in accordance with and as more specifically set forth in Schedule O (*Phase 1 Lenders' Reliability Test Criteria*) to the Common Terms Agreement or as otherwise agreed among the Borrower, the Facility Lenders and the Independent Engineer.

"*Letters of Credit*" has the meaning given in the Credit Facility Agreement.

"*Lien*" means any mortgage, privilege, pledge, lien, charge, assignment, assignment by way of security, hypothecation or security interest securing any obligation of any Person, any restrictive covenant or condition, right reservation, right to occupy, encroachment, option, easement, servitude, right of way or other imperfection of title or encumbrance (including matters that would be shown on an accurate survey) burdening any real property or any other agreement or arrangement having the effect of conferring security howsoever arising.

&nbsp;&nbsp;&nbsp;&nbsp;

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"*Lien Waiver*" means any Lien waiver contemplated by any Material Project Agreement.

"*LNG*" means Gas in a liquid state at or below its boiling point at a pressure of approximately one atmosphere.

"*LNG Buyer*" means the buyer under the applicable LNG SPA.

"*LNG Facility*" means (a) the Phase 1 LNG Facility, (b) on and following the Project Phase 2 FID Conditions Satisfaction Date, collectively, the Phase 1 LNG Facility and the Phase 2 LNG Facility and (c) on and following the Permitted Internal Expansion FID Conditions Satisfaction Date for any Permitted Internal Expansion, collectively, the Phase 1 LNG Facility, Phase 2 LNG Facility and any LNG facilities constituting such Permitted Internal Expansion, in each case as such facilities may be repaired and replaced from time to time or modified, changed or expanded as permitted in the Finance Documents.

"*LNG Facility Site*" means the portion of the Site on which the LNG Facility is situated, as more fully described in the applicable Real Property Documents.

"*LNG SPA*" means an LNG sale and purchase agreement between the Borrower and a buyer of LNG pursuant to which the Borrower will sell and the buyer will purchase LNG from the Borrower.

"*LNG SPA Force Majeure*" means "Force Majeure" as defined in each Phase 1 Initial LNG SPA (except the Phase 1 Excess Capacity LNG SPA).

"*LNG SPA Mandatory Prepayment*" has the meaning given in Section 8.2(a) (*LNG SPA Mandatory Prepayment*) of the Common Terms Agreement.

"*LNG SPA Prepayment Event*" has the meaning given in Section 8.2(a) (*LNG SPA Mandatory Prepayment*) of the Common Terms Agreement.

"*Loan Facility Declared Default*" means a Loan Facility Event of Default that is declared to be a default in accordance with Section 15.2 (*Declaration of Loan Facility Declared Default*) of the Common Terms Agreement.

"*Loan Facility Disbursement Accounts*" are the Accounts described in Section 4.3(a)(i) (*Accounts*) of the Common Security and Account Agreement.

"*Loan Facility Event of Default*" means any of the events set forth in Section 15.1 (*Loan Facility Events of Default*) of the Common Terms Agreement or any Obligor events of default under any Facility Agreement.

"*Loans*" means the Senior Debt Obligations created under individual Facility Agreements to be made available by the Facility Lenders.

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"*Local Accounts*" has the meaning set forth in Section 4.12(a) (*Local Accounts*) of the Common Security and Account Agreement.

"*Louisiana Private Works Act*" is the Louisiana Private Works Act, La. R.S. §§ 9:4801 *et seq.*, and any successor provisions thereto.

"*LTS 2023 Purchase Order*" means that certain Purchase Order Contract for the Sale of Liquefaction Train System, dated as of April 7, 2023, by and between the Borrower and BHES, as amended by Change Order No. 1, dated as of August 8, 2024 and Change Order No. 2, dated as of November 15, 2024, in each case by and between the Borrower and BHES, and as supplemented by Pre-Limited Notice to Proceed Under the Purchase Order Contract for the Sale of Liquefaction Train System, effective as of April 7, 2023, Limited Notice to Proceed Under the Purchase Order Contract for the Sale of Liquefaction Train System, dated as of June 29, 2023 and Full Notice to Proceed Under the Purchase Order Contract for the Sale of Liquefaction Train System, dated September 27, 2023.

"*LTS 2024 Purchase Order*" means that certain Purchase Order Contract for the Sale of Liquefaction Train System, dated as of December 13, 2024, by and between BHES and the Borrower, as supplemented by the Full Notice to Proceed, dated as of December 13, 2024.

"*Majority in Interest of the Senior Creditors*" with respect to any Decision at any time means Senior Creditors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;whose share in the outstanding principal amount of the Senior Debt Obligations and whose undrawn Senior Debt Commitments are more than 50% of all of the outstanding principal amount of the Senior Debt Obligations and all the undrawn Senior Debt Commitments of all the Senior Creditors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;if there is no principal amount of Senior Debt Obligations then outstanding, Senior Creditors whose Senior Debt Commitments are more than 50% of the aggregate Senior Debt Commitments of all Senior Creditors.

"*Manager*" means Venture Global Services, LLC.

"*Mandatory Prepayment Senior Notes Account*" has the meaning given in Section 4.3(a)(xi) (*Accounts*) of the Common Security and Account Agreement.

"*Margin Stock*" means margin stock as defined in Regulation U of the Federal Reserve Board.

"*Marine Terminal Works Construction Agreement*" means that certain Construction Agreement relating to a Marine Terminal Works, dated as of June 6,

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2025, by and between the Borrower and Cajun, as supplemented by Anticipated Limited Notice to Proceed, dated as of June 11, 2025, and Notice to Proceed, dated as of July 8, 2025.

"*Market Consultant*" means each of S&P Global Commodity Insights and, solely in connection with the Phase 1 LNG Facility, Fiveways Consulting Services Ltd., or any independent replacement marketing consulting firm to be selected in accordance with Section 13.2 (*Replacement and Fees*) of the Common Terms Agreement.

"*Market Terms*" means terms consistent with or not materially less favorable to the applicable Obligor (as seller or buyer, as the case may be) than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;in the case of an LNG SPA, (i) any Required LNG SPAs then in effect or (ii) the terms a non-Affiliated seller or buyer, as the case may be, of the relevant product could receive in an arm's-length transaction based on then-current market conditions for transactions of a similar nature and duration and taking into account such factors as the characteristics of the goods and services, the market for such goods and services (including any applicable regulatory conditions), tax effects of the transaction, the location of the Project Facilities and the counterparties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;in any other case, terms consistent with or more favorable to such Person (as seller or buyer, as the case may be) than the terms a non-Affiliated seller or buyer, as the case may be, of the relevant product could receive in an arm's-length transaction based on then-current market conditions for transactions of a similar nature and duration and taking into account such factors as the characteristics of the goods and services, the market for such goods and services (including any applicable regulatory conditions), tax effects of the transaction, the location of the Project Facilities and the counterparties.

"*Material Adverse Effect*" means a material adverse effect on:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;each Obligor's ability to perform and comply with its material obligations under each Material Project Agreement then in effect and to which it is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Obligors' ability, taken as a whole, to perform their material obligations under the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower's ability to pay its Senior Debt Obligations when due;.

&nbsp;&nbsp;&nbsp;&nbsp;

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including the material impairment of the rights of or benefits or remedies, taken as a whole, available to the Secured Parties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Obligors' financial condition and results of operation, on a consolidated basis.

"*Material Construction Contracts*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Material Construction Contracts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any Subsequent Material Project Agreement relating to the construction or procurement for the Project Phase 2 Development.

"*Material Project Agreements*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Material Project Agreements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any Subsequent Material Project Agreement,

*provided* that, any Material Project Agreement shall cease to be a Material Project Agreement when all material obligations thereunder have been performed and paid in full.

With respect to any Indenture, "*Material Project Agreements*" will have the meaning given in such Indenture.

"*Material Project Counterparties*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Material Project Counterparties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any counterparty to any Subsequent Material Project Agreement,

*provided* that, any Material Project Counterparty shall cease to be a Material Project Counterparty when all material obligations under the applicable Material Project Agreement have been performed and paid in full.

"*Maturity Date*" means July 28, 2032. 

"*Minimum Insurance*" means the insurance described in the Schedule of Minimum Insurance and required to be procured and maintained pursuant to Section 12.28 (*Insurance Covenant*) of the Common Terms Agreement.

"*MMBtu*" means 1,000,000 Btus.

"*Modification*" means, with respect to any Finance Document, any amendment, supplement, waiver or other modification of the terms and provisions thereof and the term "*Modify*" shall have a corresponding meaning; *provided* that, with respect to Sections 7.2(b)(ii)(A), (B) and (C) (*Modification Approval Levels –* 

&nbsp;&nbsp;&nbsp;&nbsp;

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*Modifications to Other Finance Documents*) of the Common Security and Account Agreement, the exercise of any option, right or entitlement expressly set forth in the provisos to each such clause shall not be a Modification.

"*Moody's*" means Moody's Investors Service, Inc. or any successor thereto.

"*Mortgage*" means the Multiple Indebtedness Mortgage, Pledge of Leases and Rents and Security Agreement, from the Borrower to Venture Global LNG, Inc., dated as of December 8, 2023 and with an effective date of December 28, 2023, and filed for record in Cameron Parish, Louisiana on December 29, 2023, as Instrument No. 356644, as amended by the Confirmation of and First Amendment to Multiple Indebtedness Mortgage, Pledge of Leases and Rents and Security Agreement, with an effective date of April 9, 2025, and filed for record in Cameron Parish, Louisiana on April 10, 2025, as Instrument No. 359710, as amended by the Confirmation of and Second Amendment to Multiple Indebtedness Mortgage, Pledge of Leases and Rents and Security Agreement, dated and effective as of June 6, 2025, and filed for record in Cameron Parish, Louisiana on June 6, 2025, as Instrument No. 360242, as assigned on the Closing Date to the Collateral Agent pursuant to that certain Assignment of Multiple Indebtedness Mortgage, Pledge of Leases and Rents and Security Agreement between Venture Global LNG, Inc. and the Collateral Agent in connection with that certain Assignment of Intercompany Loan Agreement among Venture Global LNG, Inc., the Borrower, the Guarantors and the Credit Facility Agent, and as confirmed by that certain Confirmation of and Third Amendment to Multiple Indebtedness Mortgage, Pledge of Leases and Rents and Security Agreement by the Borrower in favor of the Collateral Agent.

"*Mortgaged Property*" has the meaning given in Section 4.1(t)(i) (*Conditions to Closing Date and Initial Advance – Flood Insurance*) of the Common Terms Agreement.

"*MTPA*" means million metric tonnes per annum.

"*Multiemployer Plan*" means a "multiemployer plan" as defined in Section 3(37) of ERISA to which contributions have been made by any Obligor or any ERISA Affiliate in the past five years and which is covered by Title IV of ERISA.

"*Natural Gas Act*" means the Natural Gas Act of 1938, 15 U.S.C. §717 *et seq.*, as amended, and the regulations of FERC or DOE (as applicable) promulgated thereunder.

"*Net Cash Proceeds*" means in connection with any asset disposition, the aggregate cash proceeds received by any Obligor in respect of any asset disposition (including any cash received upon the sale or other disposition of any non-cash consideration received in any asset disposition), net of the direct costs and expenses relating to such asset disposition and payments made to retire

&nbsp;&nbsp;&nbsp;&nbsp;

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Indebtedness (other than the Senior Debt Obligations) required to be repaid in connection therewith, including legal, accounting and investment banking fees, and sales commissions, and any relocation expenses incurred as a result of such asset disposition, taxes paid or payable as a result of such asset disposition, in each case, after taking into account any available tax credits or deductions and amounts reserved for adjustment in respect of the sale price of such asset or assets established in accordance with GAAP.

"*New Facility Agent Accession Agreement (Additional Senior Debt)*" has the meaning given in Section 19.4(b)(i) (*Accession in the Event of Additional Senior Debt Incurred Under the Common Terms Agreement*) of the Common Terms Agreement.

"*NFE*" means NFE North Trading, LLC.

"*Non-Consenting Lender*", with respect to a Facility Agreement, has the meaning given in such Facility Agreement.

"*Non-Controlling Claimholders*" means Senior Creditor Group Representatives who were not included in the Majority in Interest of the Senior Creditors who make up the Controlling Claimholders.

"*Non-FTA Authorization*" means the Order Conditionally Granting Long-Term Authorization to Export LNG to Non-Free Trade Agreement Nations issued by DOE/FECM in Docket No. 21-131-LNG in its Order No. 5264 on March 19, 2025, as it may be amended or modified in the future. 

"*Non-Recourse Parties*" has the meaning given in Section 23.22 (*Limited Recourse*) of the Common Terms Agreement.

"*Non-Recourse Persons*" has the meaning given in Section 10.3(a) (*Limitation on Recourse*) of the Common Security and Account Agreement.

"*Notice of Security Enforcement Action*" has the meaning given in Section 6.2(f) (*Initiation of Security Enforcement Action – Notice of Security Enforcement Action*) of the Common Security and Account Agreement.

"*NYMEX*" means the New York Mercantile Exchange, Inc., a wholly owned subsidiary of the CME Group Inc.

"*NYMEX Natural Gas Futures Contract*" means the Futures Contract for natural gas on NYMEX, which is used for the physical receipt and/or delivery of gas at the Henry Hub located in Erath, Louisiana.

"*O&M Agreement*" means (a) the agreement between the Borrower and the Operator for the relevant Project Facilities and (b) the agreement between the Pipeline Company and the Pipeline Operator for the relevant Project Facilities.

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"*Obligors*" means the Borrower and the Guarantors.

"*OFAC*" means the Office of Foreign Assets Control of the US Department of the Treasury.

"*OFAC Laws*" means any laws, regulations, and executive orders relating to the economic sanctions programs administered by OFAC, including the International Emergency Economic Powers Act, 50 U.S.C. sections 1701 et seq.; the Trading with the Enemy Act, 50 App. U.S.C. sections 1 et seq.; and the Office of Foreign Assets Control, Department of the Treasury Regulations, 31 C.F.R. Parts 500 et seq. (implementing the economic sanctions programs administered by OFAC).

"*OFAC SDN List*" means the list of "Specially Designated Nationals and Blocked Persons" maintained by OFAC.

"*OID*" has the meaning given in Section 6.2(a) (*Working Capital Debt*).

"*Operating Account*" is the Account described in Section 4.3(a)(vii) (*Accounts*) of the Common Security and Account Agreement.

"*Operating Budget*" has the meaning given in Section 10.5(a) (*Operating Budget*) of the Common Terms Agreement, it being acknowledged and understood that the "Operating Budget" will be comprised of a budget in respect of the Phase 1 LNG Facility, a budget in respect of the CP Express Pipeline and a budget in respect of the Phase 2 LNG Facility and that all references in the Finance Documents to the "Operating Budget" shall be to such budgets collectively or to the budget applicable to the Project Facilities that are the subject of the applicable provision, as the context may require.

"*Operating Manual*" means the operation, maintenance and spare parts manuals delivered by the Phase 1 EPC Contractor under the Phase 1 EPC Contract.

"*Operation and Maintenance Expenses*" means, for any period, computed without duplication, in each case, costs and expenses of the Obligors that are contemplated by the then-effective Operating Budget including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;fees and costs of the Manager pursuant to the Administrative Services Agreements; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;amounts payable by the Obligors under a Material Project Agreement then in effect; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;expenses for operating the Development and maintaining it in good repair and operating condition payable during such period, including the ordinary course fees and costs of the Operator and the Pipeline Operator payable pursuant to the O&M Agreements; *plus*

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;LC Costs; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;insurance costs payable during such period; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;applicable sales and excise taxes (if any) payable or reimbursable by the Obligors during such period; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;franchise taxes payable by the Obligors during such period; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;property taxes payable by the Obligors during such period; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any other direct taxes (if any) payable by the Obligors to the taxing authority (other than any taxes imposed on or measured by income or receipts) during such period; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;costs and fees attendant to the obtaining and maintaining in effect the Permits payable during such period; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;expenses for spares and other capital goods inventory, capital expenses related to the construction and start-up of the Project Facilities, maintenance capital expenditures, including those required to maintain the Project Facilities' capacity; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;legal, accounting and other professional fees of the Obligors payable during such period; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Required Capital Expenditures; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;the cost of purchase, storage and transportation of Gas and electricity; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;all other cash expenses payable by the Obligors in the ordinary course of business.

Operation and Maintenance Expenses shall exclude, to the extent included above: (i) transfers from any Account into any other Account (other than the Operating Account) during such period, (ii) payments of any kind with respect to Restricted Payments during such period, (iii) depreciation for such period, and (iv) except as provided in clauses (j), (k) and (m) above, any capital expenditure.

To the extent amounts are advanced in accordance with the terms of the applicable Senior Debt Instrument, secured Permitted Hedging Instrument or other Indebtedness permitted under Section 12.14 (*Limitation on Indebtedness*) of the Common Terms Agreement for the payment of such Operation and Maintenance Expenses, the obligation to repay such advances shall itself constitute an Operation and Maintenance Expense.

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"*Operator*" means CP2 LNG Operations, LLC, a limited liability company organized under the laws of the State of Delaware.

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

"*Other Taxes*" means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Finance Document (other than any Indenture or Senior Notes), except any such Taxes that are Other Connection Taxes imposed with respect to an assignment of a Facility Lender's interest in a Facility Agreement (other than an assignment made pursuant to Section 19.5 (*Mitigation Obligations; Replacement of Lenders*) of the Common Terms Agreement).

"*Participant*" means each Person (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person) to whom a Facility Lender may sell participations from time to time.

"*Participant Register*" means a register on which each Facility Lender which sells a participation, enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant's interest in the relevant Facility Agreement or other obligations under the Finance Documents. Each Facility Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a Participant Register.

"*Parties*" means, with respect to any agreement, the signatories to such agreement.

"*Patent Licenses*" means all agreements, licenses and covenants providing for the granting of any right in or to any Patent or otherwise providing for a covenant not to sue for infringement or other violation of any Patent (whether an Obligor is licensee or licensor thereunder) including each agreement required to be listed in Schedule J (*Intellectual Property*) to the Common Security and Account Agreement under the heading "Patent Licenses" (as such schedule may be amended or supplemented from time to time).

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"*Patents*" means all United States and foreign and multinational patents and certificates of invention, or similar industrial property rights, and applications for any of the foregoing, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;each patent and patent application required to be listed in Schedule J (*Intellectual Property*) to the Common Security and Account Agreement under the heading "Patents" (as such schedule may be amended or supplemented from time to time);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all reissues, substitutes, divisions, continuations, continuations-in-part, extensions, renewals, and reexaminations thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all inventions and improvements described and claimed therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all rights to sue or otherwise recover for any past, present and future infringement or other violation thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;all proceeds of the foregoing, including license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable with respect thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all other rights of any kind accruing thereunder or pertaining thereto throughout the world.

"*Payment Date*" means each CTA Payment Date and any other date for payment of Senior Debt Obligations (including payment dates for the payment of interest) under or pursuant to any Senior Debt Instrument, including any Indenture, or Permitted Hedging Instrument.

"*Payment Default*" means any event of default under Section 15.1(a) (*Loan Facility Events of Default – Payment Default*) of the Common Terms Agreement and any comparable provision in any Senior Debt Instrument then in effect entered into after the date of the Common Security and Account Agreement.

"*PBGC*" means the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA (or any successor).

"*PCI*" means Performance Contractors, Inc.

"*PDE Senior Debt*" has the meaning given in Section 6.6(a) (*Supplemental Debt*) of the Common Terms Agreement.

"*Pension Plan*" means a Plan, other than a Multiemployer Plan, which is subject to Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA.

"*Performance Liquidated Damages*" means any liquidated damages resulting from the Project Facilities' performance that are required to be paid by a

&nbsp;&nbsp;&nbsp;&nbsp;

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Construction Contractor or any other counterparty to a Material Project Agreement for or on account of any diminution to the performance of the Project Facilities.

"*Performance Test*" has the meaning given to such term in each applicable Material Project Agreement.

"*Permit*" means (a) any authorization, consent, approval, license, lease, ruling, tariff, rate, certification, waiver, exemption, filing, variance, claim, order, judgment or decree of, by or with, (b) any required notice to, (c) any declaration of or with, or (d) any registration by or with, in the cases of the foregoing clauses (a) through (d), any Governmental Authority and then required for the development, construction and operation of the Project Facilities as contemplated in the Finance Documents and the Material Project Agreements then in effect.

"*Permit Appeal Qualification*" means, in respect of any applicable Permit, such Permit is (a) not subject to appeal or (b) is subject to appeal, but (i)(A) such appeal does not have a reasonable probability of success or (B) such appeal, if successful, would not impair the ability of the Obligors to satisfy their material obligations under the Required LNG SPAs and (ii) the applicable permit remains effective during such appeal.

"*Permitted Additional Working Capital Debt*" means any additional working capital debt incurred pursuant to Section 6.2 (*Working Capital Debt*); *provided* that, (1) no Event of Default or Unmatured Event of Default has occurred and is Continuing or could reasonably be expected to occur after giving effect to the incurrence of the Working Capital Debt and (2) any Senior Debt Instrument governing the additional working capital debt shall require the Borrower to reduce the principal amount relating to any revolving Loans thereunder to $0 for a period of at least five consecutive Business Days at least once per calendar year.

"*Permitted Completion Amount*" means a sum equal to an amount certified by the Borrower (and confirmed reasonable by the Independent Engineer) on the Project Phase 1 Completion Date as necessary to pay 125% of the Permitted Completion Costs with respect to the Phase 1 Project Facilities.

"*Permitted Completion Costs*" means unpaid Project Costs (including Project Costs not included in the Construction Budget and Schedule delivered on the Closing Date) that the Borrower reasonably anticipates will be required for the Project Facilities to pay all remaining costs associated with outstanding Punch List Items (as defined in the applicable Material Project Agreements) work, retainage, fuel incentive payments, disputed amounts, start-up costs, bonuses and other costs required under the Material Project Agreements.

"*Permitted Development Expenditures*" means Development Expenditures that:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;are required by applicable law or regulations, any consent from a Governmental Authority, Industry Standards or Prudent Industry Practice applicable to the Development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;are otherwise used for the Development; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;are otherwise used for an Expansion permitted in accordance with Section 7.2 (*Expansion Contracts*) of the Common Terms Agreement; and

are funded from (i) Equity Funding not otherwise committed to other expenditure for the Development, (ii) Insurance Proceeds and Condemnation Proceeds to the extent permitted by Article 5 (*Insurance and Condemnation Proceeds and Performance Liquidated Damages*) of the Common Security and Account Agreement or proceeds of dispositions to the extent permitted by Section 12.17 (*Sale of Project Property*) of the Common Terms Agreement or any equivalent provision of any other Senior Debt Instrument, (iii) Retained Excess Cash Flow, (iv) PDE Senior Debt permitted to be incurred in accordance with Section 6.6 (*Supplemental Debt*) and (v) subject to Section 7.5 (*External Expansions*), in the case of CFCo, funds received from any External LNG/CCS Entity, in the case of each of the foregoing sub-clauses (i) through (v), as expressly permitted under the Finance Documents and which use for the contemplated development could not reasonably be expected to have a Material Adverse Effect.

"*Permitted CFCo Contribution*" has the meaning given in Section 7.5(a)(ii) (*External Expansions – Creation of Common Facilities Company*) of the Common Terms Agreement.

"*Permitted Completion Senior Debt*" has the meaning given in Section 6.6(a) (*Supplemental Debt*) of the Common Terms Agreement.

"*Permitted Finance Costs*" means, for any period, the sum of all amounts of principal, interest, fees and other amounts payable in relation to Indebtedness (other than Senior Debt and other than LC Costs and other amounts payable in relation to Indebtedness that constitute Operation and Maintenance Expenses) permitted by Section 12.14(b) (*Limitation on Indebtedness*) (including guarantees thereof permitted under Section 12.15 (*Guarantees*) of the Common Terms Agreement during such period) *plus* all amounts payable during such period pursuant to Permitted Hedging Instruments that are not secured, *plus* any amounts required to be deposited in margin accounts pursuant to Permitted Hedging Instruments; *provided* that, Permitted Finance Costs will not include funds categorized as Operation and Maintenance Expenses under the last sentence of the definition thereof.

"*Permitted Finance Costs Reserve Account*" is the account described in Section 4.3(a)(xiii) (*Accounts*) of the Common Security and Account Agreement.

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"*Permitted Hedging Instrument*" means (a) each Initial Permitted Senior Debt Hedging Instrument; or (b) a Hedging Instrument entered into by the Borrower in the ordinary course of business, including any Hedging Instrument entered into in connection with forward sale or factoring contracts related to Pre-Completion Revenues, and that (i) is with a Hedging Bank, a Gas Hedge Provider or any other party that is a counterparty to a Hedging Instrument, and (ii) is entered for non-speculative purposes and is on arm's-length terms; *provided* that, if such Hedging Instrument is a Gas Hedging Instrument, it is (i) with a secured or unsecured Gas Hedge Provider, (ii) for non-speculative purposes and on arm's-length terms, and (iii) limited to (1) Futures Contracts, Fixed-Floating Futures Swaps, NYMEX Natural Gas Futures Contracts and Swing Swaps for gas hedging purposes for up to a maximum of 207.5 TBtu of gas utilizing intra-month and up to 24 prompt month contracts, (2) Index Swaps for gas hedging purposes for up to a maximum of 98.8 TBtu per month of gas utilizing up to 24 prompt month contracts, and (3) Basis Swaps for gas hedging purposes for up to a maximum of 98.8 TBtu per month with a tenor up to 60 months, where the limitations in each of the categories described in subclauses (1), (2) and (3) are not aggregated. "*Permitted Hedging Instrument*" includes any "*Permitted Senior Debt Hedging Instrument*." For the avoidance of doubt, each Anticipatory Hedge shall constitute (i) a Permitted Hedging Instrument and (ii) upon the relevant counterparty acceding to the Common Security and Account Agreement, a Permitted Senior Debt Hedging Instrument, in each case for all purposes hereunder and under the other Transaction Documents. As used in the preceding sentence, "*Anticipatory Hedge*" means any interest rate transaction between a Hedging Bank and Venture Global LNG, Inc. or the Borrower entered into prior to the Closing Date, and any Hedging Instrument entered into between a Hedging Bank and the Borrower, which results from an assignment, novation, participation, or any other conveyance or transfer of an Anticipatory Hedge (including any restructuring thereof or offsetting transactions related thereto) to the Borrower.

"*Permitted Hedging Liabilities*" means all present and future liabilities (actual or contingent) payable or owing by an Obligor under any Permitted Hedging Instrument (including the obligation to pay a Hedging Termination Amount) together with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any novation, deferral or extension of any of those liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any claim for damages or restitution arising out of, by reference to or in connection with any of those liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any claim flowing from any recovery by an Obligor or a receiver or liquidator thereof or any other Person of a payment or discharge in respect of any of those liabilities on grounds of preference or otherwise; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any amounts (such as post-insolvency interest) which could be included in any of the above but for any discharge, non-provability, unenforceability or non-allowability of the same in any insolvency or other proceedings.

"*Permitted Internal Expansion*" has the meaning given in Section 7.4 (*Permitted Internal Expansion*) of the Common Terms Agreement.

"*Permitted Internal Expansion Conditions*" has the meaning given in Section 7.4 (*Permitted Internal Expansion*) of the Common Terms Agreement.

"*Permitted Internal Expansion Debt*" has the meaning given in Section 6.5 (*Permitted Internal Expansion Debt*) of the Common Terms Agreement.

"*Permitted Internal Expansion FID Conditions Satisfaction Date*" means the date on which (a) the Borrower has (acting in its sole discretion) made a positive financial investment decision for any Permitted Internal Expansion (other than Phase 2 LNG Facility) and (b) the Permitted Internal Expansion Conditions have been satisfied in accordance with Section 7.4 (*Permitted Internal Expansion*).

"*Permitted Liens*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Liens for taxes not delinquent or being contested in good faith and by appropriate proceedings in relation to which appropriate reserves are maintained and liens for customs duties that have been deferred in accordance with the laws of any applicable jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;deposits or pledges to secure obligations under workmen's compensation, old age pensions, social security or similar laws or under unemployment insurance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;deposits or other financial assurances to secure bids, tenders, contracts (other than for borrowed money), leases, concessions, licenses, statutory obligations, surety and appeal bonds (including any bonds permitted under the Material Construction Contracts), performance bonds and other obligations of like nature arising in the ordinary course of business and cash deposits incurred in connection with natural gas purchases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;mechanics', workmen's, materialmen's, suppliers', warehouse, Liens of lessors and sublessors or other like Liens arising or created in the ordinary course of business with respect to obligations that are not due or that are being contested in good faith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;servitudes, easements, rights of way, encroachments and other similar encumbrances burdening the Project Facilities' land that are granted in the ordinary course, imperfections of title on real property, and restrictive covenants, zoning restrictions, licenses or conditions on the grant of real

&nbsp;&nbsp;&nbsp;&nbsp;

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property (in relation to such real property); *provided* that, such servitudes, easements, rights of way, encroachments and other similar encumbrances, imperfections, restrictive covenants, restrictions, licenses or conditions do not materially interfere with the Development as contemplated in the Finance Documents and the Material Project Agreements or have a material adverse effect on the Security Interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Liens to secure Indebtedness permitted by Sections 12.14(m) and (u) (*Limitation on Indebtedness*) of the Common Terms Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the Security Interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Liens in the ordinary course of business over any assets (the aggregate value of which assets at the time any such Lien is granted does not exceed $75 million) that could not reasonably be expected to cause a Material Adverse Effect or materially impair the Development's use of the encumbered assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;contractual or statutory rights of set-off (including netting) granted to the Obligors' bankers, under any Permitted Hedging Instrument or any Material Project Agreement and that could not reasonably be expected to cause a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;deposits or other financial assurances to secure reimbursement or indemnification obligations in respect of letters of credit or in respect of letters of credit put in place by an Obligor and payable to suppliers, service providers, insurers or landlords in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Liens that are scheduled exceptions to the coverage afforded by a Title Policy on the Closing Date or later date of amendment of a Title Policy or delivery of a new Title Policy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;legal or equitable encumbrances (other than any attachment prior to judgment, judgment lien or attachment in aid of execution on a judgment) deemed to exist by reason of the existence of any pending litigation or other legal proceeding if the same is effectively stayed or the claims secured thereby are being contested in good faith and by appropriate proceedings and an appropriate reserve has been established in respect thereof in accordance with GAAP;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;the Liens created pursuant to the Real Property Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Liens by any Obligor in favor of any other Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising out of judgments or awards not constituting an Event of Default so long as an appeal or proceeding for review is being prosecuted in good faith and for the payment of which adequate cash reserves, bonds or other cash equivalent security have been provided or are fully covered by insurance (other than any customary deductible); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;subject to Section 7.5 (*External Expansions*), Liens arising in respect of CFCo under any Common Facilities Agreement.

"*Permitted Payments*" means, without duplication as to amounts allowed to be distributed under any other provision of the Common Terms Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;payments to an Affiliate of the Borrower to permit such Affiliate to pay its reasonable accounting, legal and administrative expenses when due, in an aggregate amount not to exceed $25 million per calendar year (escalating annually in accordance with the applicable Material Project Agreements); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any periods (or portions thereof), the amount sufficient to permit *pro rata* distributions to each direct or indirect equity holder of the Obligors to pay U.S. federal, state, local or non-U.S. income or similar Taxes (including estimated taxes) attributable to its direct or indirect interests in the Obligors for each taxable year, as reasonably determined by the Obligors (a) utilizing an assumed tax rate equal to the highest combined marginal U.S. federal, state and local income tax rate applicable to an individual resident in, or a corporation doing business in, the State of New York, whichever is higher, and (b)(1) taking into account the character of income (e.g., as ordinary or capital gain), (2) taking into account Medicare taxes under Section 1411 of the Code, (3) taking into account any applicable limitations with respect to deductions, and (4) ignoring the effects of Sections 199A, 734 and 743 of the Code.

"*Permitted Relevering Debt*" has the meaning given in Section 6.6(a) (*Supplemental Debt*) of the Common Terms Agreement.

"*Permitted Senior Debt Hedging Instrument*" means a Permitted Hedging Instrument in respect of which the applicable Hedging Bank has acceded to the Common Security and Account Agreement.

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"*Permitted Senior Debt Hedging Liabilities*" means all present and future liabilities (actual or contingent) payable or owing by an Obligor under any Permitted Senior Debt Hedging Instrument (including the obligation to pay a Senior Debt Hedging Termination Amount) together with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any novation, deferral or extension of any of those liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any claim for damages or restitution arising out of, by reference to or in connection with any of those liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any claim flowing from any recovery by an Obligor or a receiver or liquidator thereof or any other Person of a payment or discharge in respect of any of those liabilities on grounds of preference or otherwise; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any amounts (such as post-insolvency interest) which would be included in any of the above but for any discharge, non-provability, unenforceability or non-allowability of the same in any insolvency or other proceedings.

"*Person*" means any individual, firm, corporation, partnership, joint venture, association, trust, unincorporated organization, Governmental Authority or other entity whether enjoying legal personality or not, and includes its successors or permitted assignees.

"*Petronas*" means Petronas LNG Ltd.

"*Phase 1 Completion Costs*" means, at the time of any Restricted Payment to be made pursuant to Section 11.3 (*Pre-Completion Revenue Restricted Payments*), the then-current remaining Project Costs (excluding the amounts contemplated in the Updated Contingency Amount or the Phase 1 DSRA) for the Project to achieve the Phase 1 Project Completion Date on or prior to the Phase 1 LNG Facility Date Certain.

"*Phase 1 Construction Contractors*" means the Phase 1 EPC Contractor, the Phase 1 Pipeline Contractors, BHES, B&McD, Cajun, CB&I, PCI, SSH, UOP, Callan and Baker Gulf.

"*Phase 1 Contracted Commissioning Cargo Proceeds*" means, as of any date of calculation, the projected Pre-Completion Revenues from contracted cargoes (at the fixed liquefaction fee then-sold for) with respect to the Phase 1 LNG Facility.

"*Phase 1 DSRA*" means the then-current anticipated Senior Facilities Debt Service Reserve Amount on the projected Phase 1 Project Completion Date.

"*Phase 1 Environmental Assessment Consultant*" means each of Environmental Resources Management, Inc. and Environmental Resources Management Southwest, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;

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"*Phase 1 EPC Contract*" means the Amended and Restated Engineering, Procurement and Construction Agreement, dated as of June 13, 2025, by and between the Borrower and Phase 1 EPC Contractor, as supplemented by Limited Notice to Proceed, dated as of August 7, 2023, First Extension to the LNTP, dated as of October 31, 2023, Second Extension to the LNTP, dated as of February 1, 2024, Third Extension to the LNTP, dated as of March 1, 2024, Fourth Extension to the LNTP, dated as of April 1, 2024, Fifth Extension to the LNTP, dated as of June 15, 2024, Sixth Extension to the LNTP, dated as of August 15, 2024, Seventh Extension to the LNTP, dated as of October 3, 2024, Eighth Extension to the LNTP, dated as of December 18, 2024, Ninth Extension to the LNTP, dated as of March 7, 2025 and Tenth Extension to the LNTP, dated as of June 1, 2025, together with the Phase 1 EPC Contract Guaranty.

*"Phase 1 EPC Contract Guaranty*" means the Contractor Guarantee, dated as of June 8, 2023, by Worley Limited for the benefit of the Borrower.

"*Phase 1 EPC Contractor*" means Worley Field Services Inc.

"*Phase 1 Excess Capacity LNG SPA*" means the LNG Sales and Purchase Agreement (FOB) (Phase 1 Excess), dated as of the Closing Date, by and between the Borrower and Venture Global Commodities, LLC.

"*Phase 1 Gas Transportation Agreements*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Interconnection Agreement (CP Express Interconnect), dated as of June 7, 2024, by and between the Pipeline Company and Blackfin Pipeline LLC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Amended and Restated Precedent Agreement – Anchor Shipper for Firm Transportation Service, dated as of April 29, 2025, by and between the Borrower and the Pipeline Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the West Leg Project Amended and Restated Precedent Agreement for Firm Natural Gas Service, dated as of June 24, 2024, by and between the Borrower and TC Louisiana Intrastate Pipeline LLC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Transportation Service Agreement (Agreement No. M-649), dated as of November 1, 2024, by and between the Borrower and Matterhorn Express Pipeline, LLC.

"*Phase 1 LNG Facility*" means the approximately 14.4 MTPA (nameplate) first phase of the Project, consisting of, inter alia, thirteen integrated single mixed refrigerant liquefaction blocks and supporting facilities, two 200,000 cubic meter cryogenic LNG storage tanks, and certain other related facilities, in each case (i) with related onsite utilities and supporting infrastructure and (ii) as such facilities

&nbsp;&nbsp;&nbsp;&nbsp;

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may be improved, replaced, modified, changed or expanded in accordance with the Finance Documents.

"*Phase 1 LNG Facility Date Certain*" means with respect to the Phase 1 Project Facilities, January 23, 2030; *provided* that, if, on or prior to January 23, 2030, the Borrower certifies to the Intercreditor Agent (and the Independent Engineer reasonably concurs with such certification in writing) that (i) the only remaining condition to the Project Phase 1 Completion Date as of the date of delivery of such certification, other than conditions that can only be satisfied on the Project Phase 1 Completion Date, is the condition specified in Section 14.1(c)(iii) (*Conditions to Occurrence of the Project Phase 1 Completion Date – Physical Completion Certificate*) and (ii) the Lenders' Reliability Test has commenced in accordance with the procedures specified in Section 12.11 (*Witnessing Performance Tests and Lenders' Reliability Tests; Settlement of Liquidated Damages*) and the Independent Engineer reasonably expects the Lenders' Reliability Test to be completed on or prior to April 23, 2030, then for all purposes under this Agreement the "*Phase 1 LNG Facility Date Certain*" means April 23, 2030; *provided* that, in the case of the occurrence of one or more events that constitute an LNG SPA Force Majeure that interferes with construction of the Project or otherwise with the Borrower's ability to achieve substantial completion of Phase 1 Project Facilities by such date, the Phase 1 LNG Facility Date Certain will be extended by such number of days as such event or events of LNG SPA Force Majeure delays substantial completion of Phase 1 Project Facilities (but not to exceed 365 days in the aggregate).

"*Phase 1 Initial LNG Buyers*" means SEFE, JERA, China Gas, Inpex, ENBW, NFE, ExxonMobil LNG, Chevron, Petronas, and ENI.

"*Phase 1 Initial LNG SPA*" means the following LNG SPAs entered into between the Borrower and the Phase 1 Initial LNG Buyers or Venture Global Commodities, LLC, as applicable, on or before the Closing Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the LNG Sales and Purchase Agreement (FOB), dated as of June 20, 2023, by and between the Borrower and SEFE, as amended by Amendment No. 1 to LNG Sales and Purchase Agreement (FOB), dated as of May 21, 2025, and Amendment No. 2 to LNG Sales and Purchase Agreement (FOB), dated as of July 8, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the LNG Sales and Purchase Agreement (FOB), dated as of April 27, 2023, by and between the Borrower and JERA, as supplemented by Letter Agreement in respect of option to increase the ACQ, dated as of April 27, 2023, Letter Agreement to extend the expiration date pursuant to the Operation to Increase ACQ Letter, dated as of September 1, 2023 and Notice of Waiver, dated as of July 24, 2025, from the Borrower to JERA;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the LNG Sales and Purchase Agreement (FOB), dated as of February 21, 2023, by and between the Borrower and China Gas, as amended by Amendment No. 1 to LNG Sales and Purchase Agreement (FOB), dated as of June 21, 2024, and Amendment No. 2 to LNG Sales and Purchase Agreement (FOB), dated as of June 20, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the LNG Sales and Purchase Agreement (FOB), dated as of December 26, 2022, by and between the Borrower and Inpex, as amended by Amendment No. 1 to LNG Sales and Purchase Agreement (FOB), dated as of December 20, 2024, and Amendment No. 2 to LNG Sales and Purchase Agreement (FOB), dated as of June 16, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the LNG Sales and Purchase Agreement (FOB), dated as of June 10, 2022, by and between the Borrower and ENBW, as amended by Amendment No. 1 to LNG Sales and Purchase Agreement (FOB), dated as of March 18, 2024 and Amendment No. 2 to LNG Sales and Purchase Agreement (FOB), dated as of July 22, 2025, and as supplemented by Notice of ACQ Increase, dated as of September 29, 2022 in respect of LNG Sales and Purchase Agreement (FOB), dated as of June 10, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the LNG Sales and Purchase Agreement (FOB), dated as of March 2, 2022, by and between the Borrower and NFE, as amended by Amendment No. 1 to LNG Sales and Purchase Agreement (FOB), dated as of March 26, 2024, Amendment No. 2 to LNG Sales and Purchase Agreement (FOB), dated as of April 19, 2024 and Amendment No. 3 to LNG Sales and Purchase Agreement (FOB), dated as of April 10, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the LNG Sales and Purchase Agreement (FOB), dated as of April 29, 2022, by and between the Borrower and ExxonMobil LNG, as amended by Amendment No. 1 to LNG Sales and Purchase Agreement (FOB), dated as of May 23, 2024, and Amendment No. 2 to LNG Sales and Purchase Agreement (FOB), dated as of July 9, 2025, in each case by and between the Borrower and ExxonMobil LNG, and as supplemented by Gas Supply Letter Agreement, dated as of April 29, 2022 and Carbon Capture and Sequestration Letter Agreement, dated as of April 29, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;the LNG Sales and Purchase Agreement (FOB), dated as of June 15, 2022, by and between the Borrower and Chevron, as amended by Amendment No.1 to LNG Sales and Purchase Agreement (FOB), dated as of June 25, 2024, as supplemented by the Notice of Waiver, dated as of April 23, 2025 from the Borrower to Chevron and Confirmation of Waiver of Conditions Precedent and CP Satisfaction Date, dated as of April 28, 2025 from Chevron to the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the LNG Sales and Purchase Agreement (FOB), dated as of July 2, 2025, by and between the Borrower and Petronas;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;the LNG Sales and Purchase Agreement (FOB), dated as of July 15, 2025, by and between the Borrower and ENI; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Excess Capacity LNG SPA.

"*Phase 1 Initial LNG SPA Guarantees*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Parent Company Guarantee on First Demand, dated as of June 26, 2023, as amended by the Amendment Agreement, dated as of July 21, 2025, by SEFE Securing Energy for Europe GmbH in favor of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Guarantee, dated as of January 4, 2023, by Inpex Corporation in favor of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Guarantee, dated as of March 2, 2022, by New Fortress Energy Inc. in favor of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Guarantee, dated as of February 21, 2023, by China Gas Holdings Limited in favor of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Guarantee, dated as of the Closing Date, by the Sponsor in favor of the Borrower in respect of the Phase 1 Excess Capacity LNG SPA; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;any other guarantee delivered to the Borrower under a Phase 1 Initial LNG SPA.

"*Phase 1 Material Construction Contracts*" means, together, each of the following documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 EPC Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Procurement, Supply and Construction Contracts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Pipeline Construction Contracts.

"*Phase 1 Material Project Agreements*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Initial LNG SPAs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Initial LNG SPA Guarantees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 EPC Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Pipeline Construction Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Procurement, Supply and Construction Contracts;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Gas Transportation Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Pipeline Service Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;from and after the entry into such agreement, the Phase 1 Service Agreements described in clauses (l) and (n) of the definition thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Service Agreements described in clauses (a) through (k) and (m) of the definition of "Phase 1 Service Agreements";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;prior to the Phase 1 Project Completion Date, the Access License Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;the Leases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 Parent Guarantees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;the Guarantee, dated as of July 1, 2025, by the Borrower for the benefit of B&McD, relating to the B&McD Pretreatment Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;the Guarantee, dated as of June 30, 2025, by the Borrower for the benefit of PCI, relating to the FAA (CP2 Phase 1 Pre-Treatment Modules);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;the Guarantee, dated as of June 30, 2025, by the Borrower for the benefit of PCI, relating to the FAA (CP2 Phase 1 Pipe Rack Modules);and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;any Subsequent Material Project Agreement related to the Phase 1 LNG Facility,

*provided* that, any Phase 1 Material Project Agreement shall cease to be a Phase 1 Material Project Agreement when all material obligations thereunder have been performed and paid in full.

"*Phase 1 Material Project Counterparties*" means each of the Phase 1 Construction Contractors, the Phase 1 Initial LNG Buyers, SEFE Securing Energy for Europe GmbH, Inpex Corporation, New Fortress Energy Inc., China Gas Holdings Limited, the Sponsor, Baker Hughes Holdings LLC, CB&I STS Holdings LLC, Burns & McDonnell, Inc., Worley Limited, CP2 Tug Services, LLC (only to the extent that the Phase 1 Service Agreement referenced in clause (e) of the definition thereof is in effect), the Manager, the Operator, the Pipeline Operator, Cameron Land Ventures, LLC, CP Marine Offloading, LLC, Blackfin Pipeline LLC, TC Louisiana Intrastate Pipeline LLC, Matterhorn Express Pipeline, LLC, JADP Venture, LLC, Henry Venture, LLC, Wilma Davis Bride Family, LLC, Ardoin Henry, LLC, Miller Estate Leasing Company, LLC, Charlotte Ann LaBove, Carlotta Ann Savoie, Cameron Parish Port, Harbor and Terminal District, Donald Maurice Drost, Daniel Kenneth Drost, William David Drost, Dallas Clyde Pichnic, Marjorie Pichnic Rorex, Tamara Lynn Rorex, Shane

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Wyatt Rorex Jr. and each other party (other than an Obligor) to a Material Project Agreement.

"*Phase 1 Minimum Assumed Commissioning Cargo Proceeds*" means, as of any date of calculation, the sum of (a) the Phase 1 Contracted Commissioning Cargo Proceeds *plus* (b) the projected Pre-Completion Revenues assuming the remaining Conservative Case Commissioning Cargoes as of such date (for the avoidance of doubt, without duplicating or otherwise giving effect to any cargoes counted under clause (a)) produced by the Phase 1 LNG Facility and sold prior to Project Phase 1 Completion Date at an assumed fixed liquefaction fee of $[\*\*\*] per MMBtu.

"*Phase 1 Parent Guarantees*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Guaranty Agreement, dated as of April 13, 2023, by Baker Hughes Holdings LLC for the benefit of the Borrower, relating to the LTS 2023 Purchase Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Guaranty Agreement, dated as of July 14, 2023, by Baker Hughes Holdings LLC for the benefit of the Borrower, relating to the PIS 2023 Purchase Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Guaranty Agreement, dated as of September 30, 2024, by Baker Hughes Holdings LLC for the benefit of the Borrower, relating to the PIS 2024 Purchase Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Guaranty Agreement, dated as of December 13, 2024, by Baker Hughes Holdings LLC for the benefit of the Borrower, relating to the LTS 2024 Purchase Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Parent Company Guarantee, dated as of June 22, 2023, by CB&I STS Holdings LLC (as assignee of McDermott International, Ltd, pursuant to the Assignment, Assumption and Amendment Agreement dated as of February 1, 2024) for the benefit of the Borrower, relating to the LNG Storage Tanks Engineering, Procurement and Construction Agreement (Phase I), dated as of June 22, 2023, by and between the Borrower and CB&I;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the Parent Guarantee, dated as of August 22, 2024, by Burns & McDonnell, Inc. in favor of the Procurement Company (as assignee of the Borrower, pursuant to the Assignment and Assumption Agreement, dated as of July 24, 2025), relating to the B&McD Pretreatment Contract; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 EPC Contract Guaranty.

"*Phase 1 Pipeline Construction Contracts*" means:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Engineering, Procurement and Construction Management Agreement, dated as of August 31, 2022, by and between the Pipeline Company and Gulf Interstate Engineering Company, as amended by Change Order No. 1, dated as of June 6, 2023, Amendment No. 1, dated as of June 9, 2023, Change Order No. 2, dated as of June 20, 2023, Amendment No. 2, dated as of August 1, 2023, Change Order No. 3, dated as of August 18, 2023, Change Order No. 4, dated as of September 25, 2023, Change Order No. 5, dated as of October 13, 2023, Change Order No. 6, dated as of November 22, 2023, Change Order No. 7, dated as of December 5, 2023, Amendment No. 3 dated as of December 19, 2023, Change Order No. 8, dated as of January 23, 2024, Change Order No. 9, dated as of February 21, 2024, Change Order No. 10, dated as of May 13, 2024, Change Order No. 11, dated as of June 26, 2024, Change Order No. 12, dated as of August 30, 2024, Change Order No. 13, dated as of September 25, 2024, Change Order No. 14, dated as of December 12, 2024, and Change Order No. 15, dated as of April 10, 2025, in each case by and between the Pipeline Company and Gulf Interstate Engineering Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Pipeline Construction Agreement for Spread 2, dated as of June 5, 2025, as amended by Amendment No. 1 to Pipeline Construction Agreement for Spread 2, dated as of June 26, 2025, and Amendment No. 2 to Pipeline Construction Agreement for Spread 2, dated as of July 10, 2025 in each case by and between the Pipeline Company and Sunland ("*Sunland Pipeline Construction Contract*"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Pipeline Construction Agreement for Spread 1, dated as of June 16, 2025, as amended by Amendment No. 1 to Pipeline Construction Agreement for Spread 1, dated as of June 23, 2025 in each case by and between the Pipeline Company and Troy, and as supplemented by Limited Notice to Proceed No. 1, dated as of June 23, 2025, and Limited Notice to Proceed No. 2, dated as of June 23, 2025.

"*Phase 1 Pipeline Contractors*" means Sunland, Gulf Interstate Engineering Company and Troy.

"*Phase 1 Pipeline Service Agreements*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Firm 311 Service Order (Agreement No. M-649-FT3001), dated as of November 1, 2024, by and between the Borrower and Matterhorn Express Pipeline, LLC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Firm 311 Service Order (Agreement No. M-649-FT3002), dated as of November 1, 2024, by and between the Borrower and Matterhorn Express Pipeline, LLC;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Firm Intrastate Service Order (Agreement No. M-649-FT001), dated as of November 1, 2024, by and between the Borrower and Matterhorn Express Pipeline, LLC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Firm Intrastate Service Order (Agreement No. M-649-FT002), dated as of November 1, 2024, by and between the Borrower and Matterhorn Express Pipeline, LLC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Firm Transportation Service Agreement, dated as of May 27, 2025, by and between the Borrower and the Pipeline Company.

"*Phase 1 Project Facilities*" means the Phase 1 LNG Facility and the CP Express Pipeline, as such facilities may be repaired and replaced from time to time or modified, changed or expanded as permitted in the Finance Documents.

"*Phase 1 Procurement, Supply and Construction Contracts*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the LTS 2023 Purchase Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the LTS 2024 Purchase Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the PIS 2023 Purchase Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the PIS 2024 Purchase Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the UOP Pretreatment Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the B&McD Pretreatment Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the Fabrication and Assembly Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;SSH Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Cajun Construction Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;the Dredging Services Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;the Baker Gulf Construction Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;the Storage Tanks EPC Contract.

"*Phase 1 Service Agreements*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Secondment Agreement, dated as of the Closing Date, between the Borrower and the Sponsor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Secondment Agreement, dated as of the Closing Date, between the Procurement Company and the Sponsor;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Agreement for Tug Services, dated as of the Closing Date, between the Borrower and CP2 Tug Services, LLC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Services Agreement, dated as of the Closing Date, between Pipeline Operator and the Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Services Agreement, dated as of the Closing Date, between CP2 Tug Services, LLC and the Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Services Agreement, dated as of the Closing Date, between Operator and the Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Operation and Maintenance Agreement, dated as of the Closing Date, between the Borrower and Operator;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Pipeline Operation and Maintenance Agreement, dated as of the Closing Date, between the Pipeline Company and Pipeline Operator;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Administrative Services Agreement, dated as of the Closing Date, between the Borrower and the Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Administrative Services Agreement, dated as of the Closing Date, between the Pipeline Company and the Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Administrative Services Agreement, dated as of the Closing Date, between the Procurement Company and the Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;the BHES LTSA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;the Field Services Agreement No. 10918, dated as of July 17, 2025, between the Procurement Company and BHES; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;the UOP TASA.

"*Phase 2 FID*" means that the Borrower has (acting in its sole discretion) made a positive financial investment decision to commit to Project Phase 2 Development Debt with respect to the Project Phase 2 Development, which is subject to satisfaction of the Project Phase 2 Development Conditions and, if Project Phase 2 Development Debt is being incurred, the conditions set forth in the definition of Project Phase 2 Development Debt.

"*Phase 2 LNG Facility*" means the approximately 5.6 MTPA (nameplate) second phase of the Project, consisting of, inter alia, five integrated single mixed refrigerant liquefaction blocks and supporting facilities, two 200,000 cubic meter cryogenic LNG storage tanks, and certain related facilities, in each case (i) with related onsite utilities and supporting infrastructure and (ii) as such facilities may

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be improved, replaced, modified, changed or expanded in accordance with the Finance Documents.

"*Phase 2 LNG SPAs*" means any Qualifying LNG SPA relating to sales of LNG from the Phase 2 LNG Facility.

"*Pipeline Company*" means Venture Global CP Express, a limited liability company organized under the laws of the State of Delaware, which is a direct wholly owned Subsidiary of the Pledgor.

"*Pipeline Operator*" means CP Express Operations, LLC, a limited liability company organized under the laws of the State of Delaware.

"*PIS 2023 Purchase Order*" means that certain Purchase Order Contract for the Sale of Power Island System, dated as of July 14, 2023, by and between the Procurement Company (as assignee of the Borrower, pursuant to the Assignment and Assumption Agreement, dated as of December 1, 2024) and BHES, as amended by Change Order No. 1, dated as of May 29, 2024, Change Order No. 2, dated as of August 15, 2024, Change Order No. 3, dated as of February 10, 2025, Change Order No. 4, dated as of March 27, 2025, and Change Order No. 5, dated as of June 2, 2025, as supplemented by Limited Notice to Proceed Under the Purchase Order Contract for the Sale of Power Island System, dated as of July 14, 2023 and Full Notice to Proceed Under the Purchase Order Contract for the Sale of Power Island System, dated as of September 27, 2023.

"*PIS 2024 Purchase Order*" means that certain Purchase Order Contract for the Sale of Power Island System, dated as of September 30, 2024, by and between BHES and the Procurement Company (as assignee of the Borrower, pursuant to the Assignment and Assumption Agreement, dated as of May 29, 2025), as supplemented by Limited Notice to Proceed for Tranche A, dated as of September 30, 2024, Full Notice to Proceed Only for Tranche A, dated as of December 20, 2024, and Full Notice to Proceed for Tranche B, dated as of January 1, 2025.

"*Plan*" means any "employee benefit plan" as defined in Section 3(3) of ERISA, including any "employee welfare benefit plan" (as defined in Section 3(1) of ERISA) and/or any "employee pension benefit plan" (as defined in Section 3(2) of ERISA), that is or was maintained or contributed to by any Obligor or any ERISA Affiliate.

"*Pledge Agreement*" has the meaning given in Section 3.3 (*Security Interests to be Granted by Pledgor*) of the Common Security and Account Agreement.

"*Pledged Collateral*" has the meaning given in Section 3.2(a) (*Security Interests to be Granted by the Obligors – Pledge of Pledged Collateral*) of the Common Security and Account Agreement.

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"*Pledged Debt Securities*" has the meaning given in Section 3.2(a)(vii) (*Security Interests to be Granted by the Obligors – Pledge of Pledged Collateral*) of the Common Security and Account Agreement.

"*Pledged Equity Interests*" has the meaning given in Section 3.2(a)(i) (*Security Interests to be Granted by the Obligors – Pledge of Pledged Collateral*) of the Common Security and Account Agreement.

"*Pledgor*" means CP2 LNG Pledgor, LLC, a limited liability company organized under the laws of the State of Delaware.

"*Pre-Completion Quantities*" has the meaning given in Section 8.5(a) (*Sale of Pre-Completion Quantities*).

"*Pre-Completion Revenues*" has the meaning given in Section 8.5(a)(iii) (*Sale of Pre-Completion Quantitie*s).

"*Pre-Completion Revenues Account*" is the account described in Section 4.3(a)(iii) (*Accounts*) of the Common Security and Account Agreement.

"*Pro Rata Payment*" means, in respect of the Senior Debt Obligations, a payment to a Senior Creditor on any date on which a payment of Senior Debt Obligations is made in which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the amount of interest paid to such Senior Creditor on such date bears the same proportion to the total amount of interest payments made to all Senior Creditors on such date as (i) the total amount of Senior Debt Obligations for interest due to such Senior Creditor on such date bears to (ii) the total amount of Senior Debt Obligations for interest due to all Senior Creditors on such date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the amount of principal paid to such Senior Creditor on such date bears the same proportion to the total amount of principal payments made to all Senior Creditors on such date as (i) the total amount of Senior Debt Obligations for principal due to such Senior Creditor on such date bears to (ii) the total amount of Senior Debt Obligations for principal due to all Senior Creditors on such date, in each case not including any principal payable by way of an acceleration of principal unless each Senior Debt Obligation has been accelerated; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;fees, commissions, indemnities and all amounts other than interest and principal paid to such Senior Creditor on such date bears the same proportion to the total fees, commissions, indemnities and such other amounts paid to all Senior Creditors on such date as (i) the total Senior Debt Obligations for fees, commissions, indemnities and such other amounts due to such Senior Creditor on such date bears to (ii) the total

&nbsp;&nbsp;&nbsp;&nbsp;

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Senior Debt Obligations for fees, commissions, indemnities and such other amounts due to all Senior Creditors on such date.

If payments cannot be made exactly in such proportion due to minimum required payment amounts and required integral multiples of payments under Senior Debt Instruments, payments made in amounts as near such exactly proportionate amounts as possible shall be deemed to be Pro Rata Payments.

"*Procurement Company*" means CP2 Procurement, LLC, a limited liability company organized under the laws of the State of Delaware, which is a direct wholly owned Subsidiary of the Pledgor.

"*Project*" means the approximately 20.0 MTPA (nameplate) LNG liquefaction and export project located alongside the Calcasieu Ship Channel in Cameron Parish, Louisiana, consisting of the Project Facilities.

"*Project Costs*" means all costs of acquiring, leasing, designing, engineering, developing, permitting, insuring, financing (including (a) the repayment in full of the Bridge Loans and any accrued and unpaid interest thereon and (b) closing costs, other fees and expenses, commissions and discounts payable to any purchaser or underwriter of Senior Notes (to the extent such costs are paid from the proceeds of such Senior Notes), insurance costs (including premiums) and, except to the extent paid from the Revenue Account in accordance with Section 4.7(a)(ii) (*Cash Waterfall*) or Section 4.7(a)(iii) (*Cash Waterfall*) of the Common Security and Account Agreement, interest during construction and interest rate hedge expenses and Secured Party Fees during construction), constructing, installing, commissioning, testing and starting-up (including costs relating to all equipment, materials, spare parts and labor for) the Project Facilities, funding the Senior Facilities Debt Service Reserve Account and the Contingency Reserve Account and all other costs incurred with respect to the Development in accordance with the Construction Budget and Schedule, including working capital prior to the end of the Term Loan Availability Period (on terms set forth for the Working Capital Facility in the Credit Facility Agreement), gas purchase, transport and storage costs and Operation and Maintenance Expenses, in each case incurred prior to, with respect to the Phase 1 Project Facilities, the Project Phase 1 Completion Date, with respect to the Phase 2 LNG Facility, the Project Phase 2 Completion Date or with respect to any Permitted Internal Expansion, "substantial completion" in respect of such Permitted Internal Expansion, and/or reimbursement of Drawstop Equity Contributions solely to the extent the proceeds of such Drawstop Equity Contributions have been used to pay Project Costs and after satisfaction of the conditions set forth in Section 4.2 (*Conditions to Each Term Loan Advance*). On any date on which a determination is being made whether specific sources of funding available to the Obligors are sufficient for the Development to achieve the Project Phase 1 Completion Date by the Phase 1 LNG Facility Date Certain, the Project Phase 2 Completion Date by any required

&nbsp;&nbsp;&nbsp;&nbsp;

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date for the achievement of the Project Phase 2 Completion Date or "substantial completion" in respect of any Permitted Internal Expansion by any required date for the achievement of "substantial completion" in respect of such Permitted Internal Expansion, the Project Costs against which the applicable sources of funding are measured to make this determination will be the remaining Project Costs required to be spent in order to achieve the Project Phase 1 Completion Date, the Project Phase 2 Completion Date or "substantial completion" in respect of such Permitted Internal Expansion, as applicable, as determined as of such determination date based on the then-current Construction Budget and Schedule, including in the case of commissioning costs determined on a net basis consistent with the then-current Construction Budget and Schedule.

"*Project Facilities*" means (a) the Phase 1 Project Facilities, (b) on and following the Project Phase 2 FID Conditions Satisfaction Date, collectively, the Phase 1 Project Facilities and the Phase 2 LNG Facility, and (c) on and following the Permitted Internal Expansion FID Conditions Satisfaction Date for any Permitted Internal Expansion, collectively, the Phase 1 Project Facilities, Phase 2 LNG Facility and such Permitted Internal Expansion, in each case, as such facilities may be repaired and replaced from time to time or modified, changed or expanded as permitted in the Finance Documents.

"*Project Phase 1 Completion Date*" means the date upon which all of the conditions set forth in Section 14.1 (*Conditions to Occurrence of the Project Phase 1 Completion Date*) of the Common Terms Agreement have been either satisfied, or, in each case, waived by the Requisite Intercreditor Parties.

"*Project Phase 1 Development*" means the financing, development, engineering, acquisition, ownership, occupation, construction, equipping, testing, commissioning, completing, insurance, repair, operation, maintenance and use of the Phase 1 Project Facilities and the purchase, transportation and sale of Gas and the production, storage and sale of LNG, the export of LNG from the Phase 1 Project Facilities, the transportation of Gas to the Phase 1 Project Facilities by an Obligor or third parties, and the sale of other services or other products or by-products of the Phase 1 Project Facilities and all activities incidental thereto, in each case in accordance with the Transaction Documents.

"*Project Phase 2 Completion Date*" means the "project completion date" established in respect of the Phase 2 LNG Facility.

"*Project Phase 2 Development*" means the expansion of the Project to develop, engineer, construct and operate the Phase 2 LNG Facility.

"*Project Phase 2 Development Conditions*" has the meaning given in Section 7.3 (*Project Phase 2 Development*) of the Common Terms Agreement.

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"*Project Phase 2 Development Debt*" has the meaning given in Section 6.4 (*Project Phase 2 Development Debt*) of the Common Terms Agreement.

"*Project Phase 2 Development Debt Conditions Satisfaction Notice*" has the meaning given in Section 6.4 (*Project Phase 2 Development Debt*) of the Common Terms Agreement.

"*Project Phase 2 FID Conditions Satisfaction Date*" means the date on which (a) Phase 2 FID has occurred and (b) the Project Phase 2 Development Conditions have been satisfied in accordance with Section 7.3 (*Project Phase 2 Development*).

"*Project Property*" means, at any point in time, all Project Facilities, material Permits in respect of the Development, information, data, results (technical, economic, business or otherwise) known and other information that was developed or acquired as a result of Development operations.

"*Prudent Industry Practice*" means, at a particular time, any of the practices, methods, standards and procedures (including those engaged in or approved by a material portion of the LNG industry) that, at that time, in the exercise of reasonable judgment in light of the facts known at the time a decision was made, could reasonably have been expected to accomplish the desired result consistent with good business practices, including due consideration of the Development's reliability, environmental compliance, economy, safety and expedition, and which practices, methods, standards and acts generally conform to International LNG Terminal Standards and International LNG Vessel Standards, and solely with respect to Section 12.27 (*Gas Supply Arrangements*) of the Common Terms Agreement, the standard industry practice applicable to the gas supply industry, including providing due consideration of the need for reliable supply and taking into account the credit quality, track record and experience of suppliers, diversity of supply sources, quality of gas supplied and prudent contracting strategy in order to enable the Development to receive the quantum of natural gas required from time to time to meet the obligations of the Obligors under the LNG SPAs.

"*PUHCA*" means the Public Utility Holding Company Act of 2005 and FERC's implementing regulations.

"*QFC Credit Support*" has the meaning given in Section 2.8 (*Acknowledgement Regarding Any Supported QFCs*) of the Common Terms Agreement.

"*Qualified ECP Party*" means, in respect of any Swap Obligation, each Obligor that has total assets exceeding $10 million at the time the relevant guaranty or grant of the relevant security interest becomes effective with respect to such Swap Obligation or such other person as constitutes an "eligible contract participant" under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an "eligible contract participant" at

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such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

"*Qualified Operator*" means any Person that, directly or indirectly through an affiliate, within the last five years, (a) is engaged in the business of procuring or transporting at least 1.0 Bcf of natural gas per day, (b) has operated LNG liquefaction facilities processing not less than 4.5 MTPA of LNG and (c) is in compliance with the requirements of the USA Patriot Act (including applicable, and uniformly applied, "know your customer" regulations) and all other applicable Anti-Terrorism and Money Laundering Laws and satisfies applicable "know your customer" requirements of the Facility Lenders.

"*Qualified Owner*" means any Person that, directly or through an affiliate, (a) either (i) is (or is a Subsidiary or a controlled affiliate of) a Qualified Operator, (ii) has engaged a Qualified Operator to operate the Project Facilities, (iii) has engaged with one or more Affiliates of Venture Global LNG, Inc. to operate the Project Facilities or (iv) has provided the Intercreditor Agent with a certificate from the Independent Engineer stating that such Person (or its designated operator) is qualified to operate the Project Facilities, (b) either (i) has an Investment Grade rating or (ii) is a person that has a tangible net worth or assets of at least $10 billion, (c) has satisfied applicable "know your customer" requirements of the Facility Lenders and (d) is in compliance with the requirements of the USA Patriot Act (including applicable, and uniformly applied, "know your customer" regulations) and all other applicable Anti-Terrorism and Money Laundering Laws.

"*Qualifying LNG SPA*" has the meaning given in Section 8.1(b) (*LNG SPA Maintenance*) of the Common Terms Agreement.

"*Qualifying Term*" means (a) with respect to any new LNG SPA that meets the conditions to be, or is approved as, a Qualifying LNG SPA, the term of such LNG SPA is no shorter than the lesser of (i) ten (10) years and (ii) the remaining notional 20-year amortization term of the Initial Senior Debt or (b) with respect to any LNG SPA replacing a Required LNG SPA, a term at least as long as the remaining term of the Required LNG SPA it is replacing.

"*Quarterly Payment Date*" means each March 31, June 30, September 30 and December 31.

"*Real Estate*" means all land, together with the buildings, structures, parking areas, and other improvements thereon, now or hereafter owned or leased by an Obligor, including all easements, rights-of-way, servitudes and similar rights relating thereto and all leases and tenancies, and all rights of occupancy thereof of a nature comparable to a lease.

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"*Real Property Documents*" means, at any time, (i) the documents evidencing the Real Estate owned (or leased) by the Obligors and (ii) the documents evidencing the Real Estate in which a license or servitude has been granted to an Obligor (including, for the avoidance of doubt for purposes of this clause (ii), documents evidencing Real Estate on which the CP Express Pipeline is or is to be situated). As of the Closing Date, such documents referenced in clause (i) are set forth on Schedule U (*Real Property Documents*) to the Common Terms Agreement.

"*Reasonable Commercial Terms*" has the meaning given in Section 12.28(a) (*Insurance Covenant*) of the Common Terms Agreement.

"*Receiver*" means an administrator, a receiver or receiver and manager, or, where permitted by law, an administrative receiver or equivalent officer or person in a relevant jurisdiction of the whole or any part of the Collateral.

"*Register*" has the meaning given in Section 19.7 (*Register*) of the Common Terms Agreement.

"*Reimbursable Construction Agreement*" means that certain Construction Agreement (Reimbursable), dated as of June 20, 2025, by and between the Borrower and Cajun.

"*Related Parties*" means, with respect to any specified Person, such Person's Affiliates and the respective shareholders, members, partners, directors, officers, employees, agents, trustees, advisors and representatives of such Person and such Person's Affiliates.

"*Release*" means, with respect to any Hazardous Material, any release, spill, emission, leaking, pouring, emptying, escaping, dumping, pumping, injection, deposit, disposal, discharge, dispersal, leaching or migration of such Hazardous Material into the environment, including the movement of such Hazardous Material through ambient air, soil, surface water, ground water, wetlands, land or subsurface strata.

"*Relevant Interest Period*" means, with respect to each Loan, the "Interest Period" and/or "Interest Payment Period", as applicable, as defined in the relevant Facility Agreement.

"*Repeated Representations*" means the representations and warranties described in Section 5.2 (*Repeated Representations and Warranties of the Obligors*) of the Common Terms Agreement.

"*Replacement Debt*" has the meaning given in Section 6.3(a) (*Replacement Debt*) of the Common Terms Agreement.

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"*Replacement Facility Agent Accession Agreement*" has the meaning given in Section 19.3(b)(ii) (*Replacement of Facility Agents*) of the Common Terms Agreement.

"*Replacement Material Contract*" means any agreement entered into in replacement of a Material Project Agreement (a) which has substantially similar or more favorable economic effect for Borrower or any Guarantor, as applicable, when taken as a whole together with any other agreements related thereto and (b) which has substantially similar or more favorable non-economic terms (taken as a whole) for Borrower or any Guarantor, as applicable, as the Material Project Agreement being replaced.

"*Required Capital Expenditures*" means capital expenditures required to meet the requirements of any applicable laws and regulations, Permits (or interpretations thereof), or insurance policies, Industry Standards, and Prudent Industry Practice with which the Obligors are obligated to comply under any Material Project Agreement and any other material agreements of the Obligors relating to the Development, including those relating to the environment.

"*Required Export Authorization*" means, with respect to a Required LNG SPA at any time, (a) the Non-FTA Authorization and (b) the FTA Authorization to the extent that (i) at such time, the volumes permitted to be exported under the FTA Authorization or the Non-FTA Authorization, as the case may be, are required in order to enable the sale of such Required LNG SPA's share of LNG in accordance with the terms of such Required LNG SPA and (ii) an objection has not been received in respect of the identification of such Export Authorization as being (or not being) a "Required Export Authorization" pursuant to Section 8.1(b)(iv) (*LNG SPA Maintenance*) of the Common Terms Agreement. For the avoidance of doubt, the Non-FTA Authorization is a Required Export Authorization for each of the Phase 1 Initial LNG SPAs (other than the Phase 1 Excess Capacity LNG SPA) in effect on the Closing Date and until otherwise determined in accordance with Section 8.2(a)(ii) (*LNG SPA Mandatory Prepayment*) of the Common Terms Agreement.

"*Required Intercreditor Parties*" has the meaning given in Section 1.1 (*Definitions*) of the Intercreditor Agreement.

"*Required LNG SPA*" means, at any time, Qualifying LNG SPAs that are: (a) in respect of the Phase 1 LNG Facility, (i) the Qualifying LNG SPAs referenced in clauses (a) through (e), and (g) through (j) of the definition of "Phase 1 Initial LNG SPA", and (ii) any replacement of the foregoing clause (i) in accordance with Section 8.1 (*LNG SPA Maintenance*) and (b) with respect to the overall Project, the Qualifying LNG SPAs then-designated by the Borrower pursuant to which the Fixed Projected DSCR through the tenor of such Qualifying LNG SPAs is no less than the Sizing Case DSCR based on Cash Flow Available for Debt

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Service from the Fixed Facility Charge under such Qualifying LNG SPAs and assuming no lifting and no merchant sales.

"*Requisite Intercreditor Parties*" has the meaning given in Section 1.1 (*Definitions*) of the Intercreditor Agreement.

"*Reservations*" means the principle that equitable remedies are remedies which may be granted or refused at the discretion of the court, the limitation of enforcement by laws relating to bankruptcy, insolvency, liquidation, re-organization, court schemes, moratorium, administration and other laws generally affecting the rights of creditors, the time barring of claims under any legislation relating to limitation of claims, the possibility that an undertaking to assume liability for or to indemnify a Person against non-payment of stamp duty may be void, defenses of set-off or counterclaim and similar principles, in each case both under New York law and the laws of other applicable jurisdictions and such other qualifications as to matters of law as are contained in the legal opinions provided to the Senior Creditors pursuant to Section 4.1 (*Conditions to Closing Date and Initial Advance*) of the Common Terms Agreement.

"*Resolution Authority*" means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

"*Restoration Debt*" has the meaning given in Section 6.6(a) (*Supplemental Debt*) of the Common Terms Agreement.

"*Restricted Document*" has the meaning given in Section 12.6(c) (*Confidentiality*) of the Common Security and Account Agreement.

"*Restricted Operation and Maintenance Expenses*" means Operation and Maintenance Expenses that do not constitute capital expenditures other than Required Capital Expenditures and those expenditures essential to construct the Project Facilities or to maintain the Project Facilities' capacity at, or to prevent a material increase in operating expenses from, the operating levels then in effect.

"*Restricted Payment*" means (a) any dividend or other distribution by the Borrower (in cash, property of the Borrower, securities, obligations, or other property) on, or other dividends or distributions on account of, or the setting apart of money for a sinking or other analogous fund for, or the purchase, redemption, retirement or other acquisition by the Borrower of, any portion of any membership interest in the Borrower and (b) all payments (in cash, property of the Borrower, securities, obligations, or other property) of principal of, interest on and other amounts with respect to, or other payments on account of, or the setting apart of money for a sinking or other analogous fund for, or the purchase, redemption, retirement or other acquisition by the Borrower of, any Indebtedness owed to Pledgor or any other Person party to a pledge agreement or any Affiliate thereof, including any Subordinated Debt. Restricted Payments shall not include

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) payments under the Phase 1 Service Agreements (which shall be paid in accordance with Section 4.7 (*Cash Waterfall*) of the Common Security and Account Agreement), (ii) Permitted Payments (which shall be paid in accordance with Sections 4.5(b)(ii)(C) (*Deposits and Withdrawals –Pre-Completion Revenues Account*) and/or 4.7 (*Cash Waterfall*) of the Common Security and Account Agreement) and (iii) any of the payments in (a) or (b) above (whether in cash, securities, obligations or otherwise) made among any of the Obligors.

"*Retained Excess Cash Flow*" means, as of any date of determination, amounts on deposit in the Excess Equity Proceeds Account that are available to be utilized for the making of a Restricted Payment under Section 11.1 (*Conditions to Restricted Payments*) or Section 11.3 (*Pre-Completion Revenue Restricted Payments*) of the Common Terms Agreement which, instead of being utilized to make a Restricted Payment, are retained by the Borrower and used for other purposes contemplated by the Finance Documents; *provided* that, in each case, such amounts shall only be included to the extent (a) the conditions to the making of a Restricted Payment have been satisfied under either Section 11.1 (*Conditions to Restricted Payments*) or Section 11.3 (*Pre-Completion Revenue Restricted Payments*) of the Common Terms Agreement, as applicable and (b) as of any date of determination, such funds exceed the amount deposited into the Excess Equity Proceeds Account as required by sub-clauses (a) through (d) of Section 7.2 (*Expansion Contracts*).

"*Revenue Account*" is the account described in Section 4.3(a)(vi) (*Accounts*) of the Common Security and Account Agreement.

"*Rolling Stock*" means any motor vehicles, tractors, trailers and other like property, whether or not the title thereto is governed by a certificate of title or ownership and other rolling stock, including such property for which the title thereto is evidenced by a certificate of title issued by the United States or a state that permits or requires a lien thereon to be evidenced upon such title.

"*S&P*" means Standard & Poor's Ratings Services, a division of McGraw-Hill Financial, Inc., or any successor thereto.

"*Sanctioned Person*" has the meaning given in Section 5.1(g)(iv) (*Sanctions, Anti-Corruption Laws and USA Patriot Act*) of the Common Terms Agreement.

"*Sanctions*" means any financial sanctions or economic or trade embargoes administered or enforced from time to time by the U.S. Department of State or the U.S. Department of Treasury (including the Office of Foreign Assets Control), or any other applicable U.S. sanctions authority (including OFAC Laws), the United Nations Security Council, the European Union, any EU member state or His Majesty's Treasury.

"*Sanctions Violation*" has the meaning given in Section 12.6 (*Compliance with Law*) of the Common Terms Agreement.

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"*Schedule Bonus*" means the bonus for early completion as described in [\*\*\*], as applicable.

"*Schedule of Minimum Insurance*" has the meaning given in Section 12.28(a) (*Insurance Covenant*) of the Common Terms Agreement.

"*Secured Accounts*" means the Accounts, excluding the Excluded Unsecured Accounts.

"*Secured Parties*" means the Senior Creditors, the Senior Creditor Group Representatives, the Intercreditor Agent, the Collateral Agent and the Account Bank.

"*Secured Party Fees*" means any fees, costs, indemnities, charges, disbursements, liabilities and expenses (including reasonably incurred legal fees and expenses) and all other amounts payable to the Collateral Agent, the Intercreditor Agent, the Indenture Trustee or the Account Bank, as applicable, or any of their respective agents and to any Senior Creditor Group Representative.

"*Securities Act*" means the Securities Act of 1933.

"*Security Documents*" means the Common Security and Account Agreement and any other document, agreement, notice, mortgage, instrument or filing creating and/or perfecting any Lien required to be created or perfected by the Common Security and Account Agreement or any other Finance Document and shall include the Pledge Agreement, any deed of trust or mortgage entered into pursuant to Section 3.2(e) (*Security Interests to be Granted by the Obligors* – *Real Property*) of the Common Security and Account Agreement, including the Mortgage, any Patent or Trademark security agreement entered into pursuant to Section 3.5(f) (*Perfection and Maintenance of Security Interest* – *Intellectual Property Recording Requirements*) of the Common Security and Account Agreement, and any account control agreement (including the Control Agreements) entered into pursuant to Section 4.12(a) (*Local Accounts*) of the Common Security and Account Agreement.

"*Security Enforcement Action*" means the exercise by the Collateral Agent (or at its direction), following initiation of enforcement action in compliance with Section 6.2 (*Initiation of Security Enforcement Action*) and Section 6.3 (*Conduct of Security Enforcement Action*) of the Common Security and Account Agreement, of enforcement rights with respect to the Collateral and any of the other enforcement rights (including exercising step-in and other rights with respect to the Direct Agreements entered into pursuant to Section 3.4 (*Direct Agreements*) of the Common Security and Account Agreement) contemplated by the Common Security and Account Agreement, the other Security Documents and the Direct Agreements. For the avoidance of doubt, Security Enforcement Action shall not include any action taken by the Collateral Agent (or at its direction) in

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accordance with Section 6.1 (*Collateral Agent Action Generally*) of the Common Security and Account Agreement.

"*Security Enforcement Action Initiation Request*" has the meaning given in Section 6.2(a) (*Initiation of Security Enforcement Action*) of the Common Security and Account Agreement.

"*Security Enforcement Action Representative*" means, at any time, a Senior Creditor Group Representative, or a group of Senior Creditor Group Representatives acting together, that represents a Majority in Interest of the Senior Creditors (for purposes of this definition only, the "*Majority Representative*"); *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;for so long as at least 20% of the outstanding principal amount of the Senior Debt Obligations is held by Facility Lenders, the Security Enforcement Action Representative shall be a Senior Creditor Group Representative, or a group of Senior Creditor Group Representatives acting together, that represents a Majority in Interest of the Senior Creditors which includes Facility Lenders holding a majority of the outstanding principal amount of the Senior Debt Obligations held by Facility Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;if there is no principal amount of Senior Debt Obligations then outstanding and at least 20% of the aggregate Senior Debt Commitments are held by Facility Lenders, the Security Enforcement Action Representative shall be a Senior Creditor Group Representative, or a group of Senior Creditor Group Representatives acting together, that represents a Majority in Interest of the Senior Creditors which includes Facility Lenders holding a majority of the aggregate Senior Debt Commitments held by Facility Lenders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Initiating Percentage shall be deemed to be the Security Enforcement Action Representative if and only for so long as the Majority Representative (or the Security Enforcement Action Representative as determined pursuant to clause (a) or (b) above) is not diligently pursuing a Security Enforcement Action unless stayed or otherwise precluded from doing so by law, regulation or order, in which case the Majority Representative (or the Security Enforcement Action Representative as determined pursuant to clause (a) or (b) above) shall remain the Security Enforcement Action Representative until the Majority Representative (or the Security Enforcement Action Representative as determined pursuant to clause (a) or (b) above) is no longer stayed or otherwise precluded from diligently pursuing a Security Enforcement Action and is nonetheless not diligently pursuing such Security Enforcement Action.

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"*SEFE*" means SEFE Energy GmbH (formerly known as Wingas GmbH).

"*Senior Creditor*" means a provider of Senior Debt that benefits from the Common Security and Account Agreement, including the Facility Lenders, any Senior Noteholders and each Hedging Bank that is party to, or accedes to, the Common Security and Account Agreement.

"*Senior Creditor Group*" means, at any one time, the following, each of which will constitute a separate Senior Creditor Group:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Credit Facility Lender Parties under the Credit Facility Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Facility Lenders (collectively) under any subsequent Facility Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Senior Noteholders (collectively) under any Indenture;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;each Hedging Bank; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any Senior Creditor or group of Senior Creditors, as the case may be, that provides Additional Senior Debt pursuant to a single Senior Debt Instrument entered into after the date of the Common Security and Account Agreement.

"*Senior Creditor Group Representative*" means, with respect to any Senior Creditor Group, the representative of such Senior Creditor Group or the incumbent replacement thereof duly appointed as provided in Section 2.4 (*Senior Creditor Group Representatives; Replacement or Appointment of Senior Creditor Group Representative*) of the Common Security and Account Agreement; *provided* that, in the case of Hedging Banks acting in the capacity as a Senior Creditor Group Representative, such Hedging Bank shall only be entitled to act in such capacity in accordance with Section 7.3 (*Hedging Banks*) of the Common Security and Account Agreement. Each Facility Agent shall at all times be the Senior Creditor Group Representative for the relevant Senior Creditor Group and each Indenture Trustee shall at all times be the Senior Creditor Group Representative for the relevant Senior Noteholders.

"*Senior Debt*" means the Initial Senior Debt, the Working Capital Debt and Senior Notes under the applicable Senior Debt Instrument existing on the Closing Date, any other permitted Additional Senior Debt (including such as may be incurred under any Senior Notes, or any other Senior Debt Instrument), obligations arising under the Permitted Senior Debt Hedging Instruments, any Permitted Additional Working Capital Debt, any Replacement Debt, after the

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satisfaction of the conditions set forth in Section 6.4 (*Project Phase 2 Development Debt*), any Project Phase 2 Development Debt, after the satisfaction of the conditions set forth in Section 6.5 (*Permitted Internal Expansion Debt*), any Permitted Internal Expansion Debt and after the satisfaction of the applicable conditions in Section 6.6 (*Supplemental Debt*), any *pari passu* Permitted Relevering Debt, Permitted Completion Senior Debt, PDE Senior Debt and/or Restoration Debt, in each case benefiting from the Security Interests created under and pursuant to the Common Security and Account Agreement and incurred from time to time as permitted by the Finance Documents.

"*Senior Debt Commitments*" means the aggregate principal amount any Senior Creditor is committed to disburse to the Borrower under any Senior Debt Instrument.

"*Senior Debt/Equity Ratio*" means, as of the date of measurement, the ratio of (a) the sum of principal amounts of Senior Debt (excluding any Letters of Credit and unfunded Senior Debt Commitments, but including any Working Capital Loans and any LC Reimbursement Payments) incurred as of such date or Senior Debt or Senior Debt Commitments projected to be incurred and funded under the Base Case Forecast as of such date, as applicable, to (b) the aggregate amount of Equity Funding (other than Equity Funding as described in clause (d) of the definition thereof) applied as of such date towards Project Costs or contributed to the Borrower or any Guarantor and on deposit in a Secured Account (including any Cash Flow from operations prior to the Project Phase 1 Completion Date applied towards Project Costs) or Cash Flow from operations projected as of such date to be applied towards Project Costs under the Base Case Forecast (including Equity Funding (other than Equity Funding as described in clause (d) of the definition thereof) constituting Cash Flow that is reasonably expected to be received by the Obligors on or prior to the Project Phase 1 Completion Date) or amounts on deposit in the Excess Equity Proceeds Account applied to the payment of Project Costs (without double counting), as applicable.

"*Senior Debt Hedging Termination Amount*" means any Permitted Senior Debt Hedging Liability due as a result of the termination of a Permitted Senior Debt Hedging Instrument and/or the termination of any transaction entered into thereunder.

"*Senior Debt Instrument*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;each Facility Agreement, including with respect to each Facility Agreement, the Common Terms Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any Indenture and any Senior Notes issued pursuant to such Indenture; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any credit agreement, indenture, trust deed, note or other instrument pursuant to which the Borrower incurs permitted Additional Senior Debt from time to time.

For the avoidance of doubt, the term "*Senior Debt Instrument*" shall not include any Permitted Hedging Instrument (including, for the avoidance of doubt, any Permitted Senior Debt Hedging Instrument).

"*Senior Debt Obligations*" means the obligations of the Borrower and the obligations of each Guarantor under its guarantee granted under and pursuant to the Common Security and Account Agreement in each case to pay:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all principal, interest and premiums on the disbursed Senior Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all commissions, fees, reimbursements, indemnities, prepayment premiums and other amounts payable to Senior Creditors under any Senior Debt Instrument;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all Permitted Senior Debt Hedging Liabilities under Permitted Hedging Instruments in respect of which the Hedging Bank has acceded to the Common Security and Account Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all Secured Party Fees;

in each case whether such obligations are present, future, actual or contingent and including the payment of amounts that would become due under the Senior Debt Instruments or the Permitted Senior Debt Hedging Instruments but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code.

"*Senior Facilities Debt Service Reserve Account*" is the account described in Section 4.3(a)(viii) (*Accounts*) of the Common Security and Account Agreement.

"*Senior Facilities Debt Service Reserve Amount*" means as of any date on and after the Project Phase 1 Completion Date, an amount necessary to pay Facility Debt Obligations projected to be due and payable on the next two (in the case of quarterly Payment Dates) or one (in the case of semi-annual Payment Dates) Payment Dates (assuming that no Event of Default will occur during such period) taking into account, with respect to interest, the amount of interest that would accrue on the aggregate principal amount of Facility Debt Obligations outstanding for the covered six month period and only such interest amount after giving effect to any Permitted Hedging Instrument in respect of interest rates then in effect; *provided* that, (a) the Facility Debt Obligations projected to be due and payable for purposes of this calculation shall not include (i) Working Capital Debt; (ii) any voluntary or mandatory prepayment; or (iii) Hedging Termination Amounts; (iv) Project Phase 2 Development Debt until after the Project Phase 2 Completion Date or (v) any Permitted Internal Expansion Debt until after "substantial

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completion" in respect of such Permitted Internal Expansion; and (b) for purposes of the calculation of the scheduled principal payments in respect of any Senior Debt, any final balloon payment in respect of such Senior Debt shall not be taken into account and instead only the equivalent of the principal payment on the immediately preceding Payment Date for payment of principal prior to such balloon payment shall be taken into account.

"*Senior Managing Agent*" has the meaning given in Exhibit A (*Definitions*) to the Credit Facility Agreement.

"*Senior Note Disbursement Accounts*" has the meaning given in Section 4.3(a)(ii) (*Accounts*) of the Common Security and Account Agreement.

"*Senior Noteholder*" means any holder of Senior Notes (or lenders in the case of a "term loan B" financing that the Borrower has elected to be treated as an Indenture).

"*Senior Notes*" means the notes to be issued (or facility agreement to be entered into in the case of a "term loan B" financing that the Borrower has elected to be treated as an Indenture) pursuant to any Indenture.

"*SIGTTO*" has the meaning given in this Section 1.3 of Schedule A (*Common Definitions and Rules of Interpretation* – *Definitions*) within the definition of International LNG Terminal Standards.

"*Site*" means, collectively, each parcel or tract of land upon which any portion of the Project Facilities are or will be located.

"*Sizing Case DSCR*" means at least [\*\*\*] (on a blended basis) using (a) 1.30:1.0 sizing criteria for the projected Cash Flows derived from the fixed price component under each of the 1.30x Sizing LNG SPAs and (b) a 1.70:1.0 sizing criteria for the projected Cash Flows derived from the fixed price component under each of the 1.70x Sizing LNG SPAs.

"*SOFR*" has the meaning given in the Credit Facility Agreement.

"*Solvent*" means, with respect to any Person as of the date of any determination, that on such date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the fair valuation of the assets of such Person, on a consolidated basis, is greater than the liabilities of such Person on a consolidated basis, including contingent liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the present fair saleable value of the assets of such Person, on a consolidated basis, is at least the amount that will be required to pay the probable liability, on a consolidated basis, of such Person on its debts as they become absolute and matured;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;such Person is able to pay its debts and other liabilities, contingent obligations, and other commitments as they become absolute and matured in the normal course of business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person's assets would constitute unreasonably small capital after giving due consideration to current and anticipated future business conduct.

In computing the amount of contingent liabilities at any time, such liabilities shall be computed at the amount which, in light of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

"*Sponsor*" means Venture Global LNG, Inc., a corporation organized under the laws of the State of Delaware.

"*Sponsor Intercompany Loan*" means that certain Intercompany Loan Agreement, dated as of December 28, 2023, between the Borrower and the Sponsor as amended by the First Amendment to the Intercompany Loan Agreement, dated as of December 11, 2024.

"*SSH*" means State Service Holdings, LLC.

"*SSH Agreement*" that certain Fabrication and Assembly Agreement (Phase 1), dated as of November 4, 2024, between SSH and the Borrower, as supplemented by Limited Notice to Proceed No. 1, dated as of November 13, 2024, Limited Notice to Proceed No. 2, dated as of January 2, 2025, and Limited Notice to Proceed No. 3, dated as of May 23, 2025.

"*State of Delaware,*" "*Delaware*" or "*DE*" means the State of Delaware in the United States.

"*State of New York,*" "*New York*" or "*NY*" means the State of New York in the United States.

"*Storage Tanks EPC Contract*" means that certain LNG Storage Tanks Engineering, Procurement and Construction Agreement (Phase I), dated as of June 22, 2023, by and between the Borrower and CB&I, as amended by Change Order No. 1, dated as of December 21, 2023, Change Order No. 2, dated as of April 30, 2024, Change Order No. 3, dated as of May 29, 2024, Change Order No. 4, dated as of March 21, 2025, Change Order No. 5, dated July 17, 2025, Amendment No. 1 to LNG Storage Tanks Engineering, Procurement and Construction Agreement (Phase I), dated as of December 20, 2023, Amendment No. 2 to LNG Storage Tanks Engineering, Procurement and Construction Agreement (Phase I), dated as of June 4, 2024, Amendment No. 3 to LNG Storage

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Tanks Engineering, Procurement and Construction Agreement (Phase I), dated as of March 21, 2025, Amendment No. 4 to LNG Storage Tanks Engineering, Procurement and Construction Agreement (Phase 1), dated as of July 14, 2025, in each case by and between the Borrower and CB&I, and as supplemented by Anticipated Limited Notice to Proceed, dated as of June 23, 2023, Limited Notice to Proceed No. 2, dated as of November 1, 2023, Amendment No. 1 to Limited Notice to Proceed No. 2, dated as of December 20, 2023, Amendment No. 2 to Limited Notice to Proceed No. 2, dated as of April 30, 2024, and Amendment No. 3 to Limited Notice to Proceed No. 2, dated as of April 2, 2025, in each case by and between the Borrower and CB&I, and 30 Days' Notice Prior to Issuance of Notice to Proceed, dated as of May 29, 2025 and Notice to Proceed, dated as of June 27, 2025, in each case from the Borrower to CB&I.

"*Storm Surge Wall Construction Agreement*" means that certain Construction Agreement relating to a Storm Surge Wall, dated as of September 23, 2024, by and between the Borrower and Cajun, as supplemented by Notice to Proceed, dated as of June 6, 2025.

"*Subordinated Debt*" means any unsecured debt or obligation that ranks subordinate in right of payment to the Senior Debt Obligations, on the basis set forth in a subordination agreement in the form set forth in Schedule S – 1 (*Form of General Subordination Agreement*) or Schedule S – 2 (*Form of Obligor Subordination Agreement*) to the Common Terms Agreement, as the case may be.

"*Subsequent Material Project Agreements*" means any contract, agreement, letter agreement or other instrument (other than a Real Property Document) to which an Obligor becomes a party after the Closing Date that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;replaces or substitutes for an existing Material Project Agreement (including a Replacement Material Contract);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;contains obligations and liabilities equal to or in excess of $100 million per year and a committed term of at least eight years, with respect to any other contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;is a guarantee provided in favor of any Obligor by a guarantor or a counterparty under a Subsequent Material Project Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;replaces or substitutes any existing agreement described in clauses (a) through (c) above,

*provided* that, any contract, agreement, letter agreement or other instrument relating to the Project Phase 2 Development or any Permitted Internal Expansion that is permitted under Section 7.2 (*Expansion Contracts*) shall not constitute a Subsequent Material Project Agreement so long as either (i) the Obligors do not have any material obligations pursuant to such project documents until after the

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Phase 2 FID Conditions Satisfaction Date or the Permitted Internal Expansion FID Conditions Satisfaction Date applicable to such Permitted Internal Expansion, in each case, as applicable, or (ii) any material obligations that cannot be suspended without material financial cost by the Obligors, in their sole discretion, under the terms of such project documents are paid by (and reserved for in advance) with voluntary equity contributions (excluding, for the avoidance of doubt, any voluntary equity contributions used to satisfy the In-Construction Sufficiency Condition or to fund the Contingency Reserve Requirement).

For the purposes of this definition, any series of related transactions shall be considered as one transaction, and all contracts, agreements, letter agreements or other instruments in respect of such transactions shall be considered as one contract, agreement, letter agreement or other instrument, as applicable. Subsequent Material Project Agreements that are executed in a form previously attached to a Material Project Agreement (or Subsequent Material Project Agreement approved by the Intercreditor Agent (acting at the direction of the Requisite Intercreditor Parties)) will not be subject to the prior Intercreditor Agent approval requirements set forth in Section 12.5 (*Material Project Agreements*) of the Common Terms Agreement; *provided* that, the notice requirements in Section 10.3(o) and 10.3(p) (*Notices*) shall apply to such Subsequent Material Project Agreements.

"*Subsidiary*" means, for any Person, any corporation, partnership, joint venture, limited liability company or other entity of which at least a majority of the securities or other ownership interests having by their terms ordinary voting power to elect a majority of the board of directors or other Persons performing similar functions of such corporation, partnership or other entity (irrespective of whether or not at the time securities or other ownership interests of any other class or classes of such corporation, partnership or other entity shall have or might have voting power by reason of the happening of any contingency) is at the time directly or indirectly owned or Controlled by such Person or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of such Person and "*Subsidiaries*" shall have a corresponding meaning.

"*Sunland*" means Sunland Construction, Inc.

"*Supplemental Debt*" has the meaning given in Section 6.6(a) (*Supplemental Debt*) of the Common Terms Agreement.

"*Supplemental Quantity*" means (i) 17.28 MTPA of LNG *minus* (ii) the aggregate ACQ under the Required LNG SPAs or any other Qualifying LNG SPA then in effect for the Project Phase 1 Development.

"*Supplied Reporting Data*" has the meaning given in Section 10.4(a)(i)(E) (*Construction Reports*).

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"*Supported QFC*" has the meaning given in Section 2.8 (*Acknowledgement Regarding Any Supported QFCs*) of the Common Terms Agreement.

"*Survey*" means a survey of the LNG Facility Site, dated not more than 30 days prior to the Closing Date and certified to Borrower, the Intercreditor Agent and the Title Company or a Zip Map, ExpressMap or similar type of aerial map (or any combination thereof), showing a state of facts reasonably acceptable to the Intercreditor Agent (including (i) the location of the LNG Facility Site, (ii) all easements benefiting the LNG Facility Site (or constituting a portion of the LNG Facility Site), all easements affecting the LNG Facility Site and all rights of way and existing utility lines referred to in the Title Policy or disclosed by a physical inspection of the LNG Facility Site (which shall in no event include the CP Express Pipeline), (iii) any established building lines, whether by zoning or agreement, and areas affected by restrictive covenants affecting the LNG Facility Site, (iv) adequate access to the portion of the LNG Facility Site comprising the site of the Phase 1 LNG Facility, (v) encroachments, if any, and the extent thereof in feet and inches upon the LNG Facility Site and onto property adjacent to the LNG Facility Site, and (vi) any improvements, whether existing or to the extent constructed, and the relationship of such improvements by distances to the perimeter of the LNG Facility Site, established building lines and street lines), which survey shall be prepared by an independent surveyor licensed in the State of Louisiana in compliance with the 2021 ALTA/NSPS Minimum Standard Detail Requirements for ALTA/NSPS Surveys, satisfying those "Table A" standards reasonably required by the Collateral Agent, and otherwise sufficient for the Title Company to eliminate the standard survey exception from the Title Policy and to issue the endorsements set forth on Schedule AA (*Survey Endorsements*).

"*Swap Obligation*" means 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 or the regulations thereunder.

"*Swing Swap*" means an contract which entitles the buyer of the contract to pay a fixed price for natural gas and the seller to pay the gas daily average at a defined location for a defined period of time. The Swing Swap is settled financially, via exchange of cash payment each day as the gas daily average is settled, rather than physically.

"*Syndication Agent Fee Letter*" means the fee letter entered into between the Borrower, the Guarantors, Banco Santander, S.A., New York Branch and ING Capital LLC, in respect of each of their services to be performed as syndication agents.

"*Taxes*" means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges, including any interest, additions to tax or penalties applicable thereto, imposed by any Governmental Authority or the government of any foreign jurisdiction, or of

&nbsp;&nbsp;&nbsp;&nbsp;

------

any political subdivision thereof, including any and all agencies, branches, departments and administrative and other subdivisions thereof, and any payments in lieu of the foregoing.

"*TBtu*" means one trillion Btus.

"*Term Loan Availability Period*" has the meaning given to it in the Credit Facility Agreement.

"*Term Loan Commitment*" has the meaning given in Exhibit A (*Definitions*) to the Credit Facility Agreement.

"*Term Loans*" has the meaning given in the Credit Facility Agreement.

"*Third Party Account Bank*" has the meaning given in Section 4.11(a) (*Third Party Investment Account*) of the Common Security and Account Agreement.

"*Third Party Investment Account*" has the meaning given in Section 4.11(a) (*Third Party Investment Account*) of the Common Security and Account Agreement.

"*Title Company*" means Fidelity National Title Insurance Company, First American Title Insurance Company, Stewart Title Guaranty Company and Old Republic National Title Insurance Company.

"*Title Policy*" means one or more fully paid ALTA Loan Policies of Title Insurance (Form 2021) as adopted for use in the State of Louisiana, or a *pro forma* policy prepared prior to payment for issuance and delivery of the policy, with completed Schedules A and B, showing the proposed insured, the amount of insurance, the exceptions that are proposed to be placed in the final policies to be issued, and the name of the title insurance company and title insurance agent, if any, including all amendments and endorsements thereto, issued by the Title Company in favor of the Collateral Agent, with such coinsurers or reinsurers as may be reasonably required by the Collateral Agent, with such policies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;in the case of the Title Policy delivered in connection with the Closing Date, in an amount equal to $8,363,320,660;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Title Policy obtained in connection with an acquisition of Real Estate after the Closing Date, to the extent that the Obligors are required to obtain such policy in respect of such Real Estate acquisition pursuant to the Common Terms Agreement or Common Security and Account Agreement, then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;in the case such acquisition of Real Estate is for purposes of an Expansion or Development Expenditure to be funded by Loans incurred by the Obligors, the Obligors shall either amend the then-existing Title

&nbsp;&nbsp;&nbsp;&nbsp;

------

Policy, replace the then-existing Title Policy with a new Title Policy or, to the extent a tie-in endorsement to the then existing Title Policy obtained in connection with incurrence of Loans is available and obtained, obtain a separate incremental Title Policy covering the acquired Real Estate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;in the case of an acquisition of any Real Estate by the Obligors other than in the circumstances described in clause (x) above, the Obligors may (but shall not be required to) amend the then-existing Title Policy or replace the then-existing Title Policy with a new Title Policy in an amount consistent with the terms in clause (x) above or shall obtain a Title Policy covering only such acquired Real Estate in an amount not less than the fair market value, as reasonably determined by the Borrower, of such acquired Real Estate;

in each case with respect to such acquired Real Estate, and in form or forms satisfactory to the Collateral Agent in all respects, with such policies when taken together insuring as of the date of the recording of the applicable mortgage documents required under Section 3.2(e) (*Security Interests to be Granted by the Obligors – Real Property*) of the Common Security and Account Agreement creating a Lien on the estates and interests in the Real Estate comprising the Phase 1 LNG Facility, that such mortgage is a first and prior Lien on the estates and interests in the real property comprising the Phase 1 LNG Facility (to the extent the mortgage property consists of interests insurable under the terms of such form of title policy) free and clear of all Liens on and defects of title other than Permitted Liens, and containing or providing for, among other items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;no survey exceptions other than Permitted Liens and those approved by the Collateral Agent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;such other endorsements and affirmative assurances (including, to the extent available on commercially reasonable terms, materialmen's and mechanic's lien coverage) as the Collateral Agent shall reasonably require and which the title insurers are permitted and willing to issue pursuant to applicable Louisiana Government Rules.

"*Trade Secret Licenses*" means any and all agreements providing for the granting of any right in or to Trade Secrets (whether an Obligor is licensee or licensor thereunder) or otherwise providing for a covenant not to sue for misappropriation or other violation of a Trade Secret.

"*Trade Secrets*" means all trade secrets and all other confidential or proprietary information and know-how, manufacturing and production processes and techniques, inventions, research and development information, technical data, financial, marketing and business data, pricing and cost information, business and marketing plans, and customer and supplier lists and information whether or not the foregoing has been reduced to a writing or other tangible form, including all

&nbsp;&nbsp;&nbsp;&nbsp;

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documents and things embodying, incorporating, or referring in any way to the foregoing, and with respect to any and all of the foregoing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all rights to sue or otherwise recover for any past, present and future misappropriation or other violation thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all proceeds of the foregoing, including license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable with respect thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all other rights of any kind accruing thereunder or pertaining thereto throughout the world.

"*Trademark Licenses*" means any and all agreements, licenses and covenants providing for the granting of any right in or to any Trademark or otherwise providing for a covenant not to sue for infringement, dilution or other violation of any Trademark or permitting coexistence with respect to a Trademark (whether an Obligor is licensee or licensor thereunder).

"*Trademarks*" means all United States, foreign and multinational trademarks, trade names, trade styles, trade dress, corporate names, company names, business names, fictitious business names, Internet domain names, service marks, certification marks, collective marks, logos, other source or business identifiers, designs and general intangibles of a like nature, whether or not registered, and with respect to any and all of the foregoing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all registrations and applications therefor including the registrations and applications required to be listed in Schedule J (*Intellectual Property*) to the Common Security and Account Agreement under the heading "Trademarks" (as such schedule may be amended from time to time);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all extensions and renewals of any of the foregoing and amendments thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all of the goodwill of the business connected with the use of and symbolized by any of the foregoing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all rights to sue or otherwise recover for any past, present and future infringement, dilution or other violation of any of the foregoing or for any injury to the related goodwill;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;all proceeds of the foregoing, including license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable with respect thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all other rights of any kind accruing thereunder or pertaining thereto throughout the world.

&nbsp;&nbsp;&nbsp;&nbsp;

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"*Transaction Documents*" means, collectively, the Finance Documents and the Material Project Agreements.

"*Transfers*" has the meaning given in the relevant Facility Agreement.

"*Troy*" means Troy Construction, LLC.

"*UCC*" means the Uniform Commercial Code (or any similar or equivalent legislation) as in effect from time to time in any applicable jurisdiction.

"*UK Financial Institution*" means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

"*UK Resolution Authority*" means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

"*United States*" or "*US*" means the United States of America.

"*Unmatured Event of Default*" means an Unmatured Loan Facility Event of Default, Unmatured Indenture Event of Default or a comparable unmatured event of default under any other Senior Debt Instrument entered into after the date of the Common Security and Account Agreement.

"*Unmatured Indenture Event of Default*" means an event that, with the giving of notice, lapse of time or making of a determination, would constitute an Indenture Event of Default.

"*Unmatured LNG SPA Prepayment Event*" means an event that, with the giving of notice or lapse of a cure period, would become an LNG SPA Prepayment Event.

"*Unmatured Loan Facility Event of Default*" means a misrepresentation, breach of undertaking or other event or condition that has occurred and that, with the giving of notice or lapse of time or making of a determination, would constitute a Loan Facility Event of Default.

"*UOP*" means UOP LLC.

"*UOP Pretreatment Contracts"* means:

&nbsp;&nbsp;&nbsp;&nbsp;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;that certain Engineering Agreement (CP2 LNG Phase 1), dated as of January 13, 2023, by and between the Borrower and UOP, as modified by Change Order No. 1, dated as of October 5, 2023, Change Order No. 2, dated as of February 6, 2024, Change Order No. 3, dated as of November 1, 2024, Change Order No. 4, dated as of June 8, 2025, and Amendment No. 1 to Engineering Agreement (CP2 LNG Phase 1), dated as of November 29, 2023;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;that certain Amended and Restated Natural Gas Integrated Pretreatment Block License Agreement (CP2 LNG Phase 1), dated as of April 3, 2025, by and between the Borrower and UOP; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;that certain Amended and Restated Natural Gas Integrated Pretreatment Block License Agreement (CP2 LNG Phase 2), dated as of April 3, 2025, by and between the Borrower and UOP.

"*UOP TASA*" means the Technical Advisor Services Agreement to be entered into between the Borrower and UOP.

"*Updated Contingency Amount*" means, at the time of any Restricted Payment to be made pursuant to Section 11.3 (*Pre-Completion Revenue Restricted Payments*), the contingency recommended by the Independent Engineer at the time of such Restricted Payment, taking account of the then-current status of construction of the Project and the then current expected Phase 1 Project Completion Date.

"*US Dollars*" and "*$*" means the currency of the United States.

"*US Tax Compliance Certificate*" has the meaning given in Section 21.5(b)(ii)(C) (*Status of Facility Lenders and Facility Agents*) of the Common Terms Agreement.

"*USA Patriot Act*" means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, as amended from time to time.

"*USPTO*" means the United States Patent and Trademark Office.

"*U.S. Special Resolution Regimes*" has the meaning given in Section 2.8 (*Acknowledgement Regarding Any Supported QFCs*) of the Common Terms Agreement.

"*Withdrawal and Transfer Certificate*" means a certificate, in the form attached as Schedule K (*Form of Withdrawal and Transfer Certificate*) to the Common Security and Account Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;

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"*Withdrawal Liability*" means any liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Sections 4203 and 4205 of ERISA.

"*Working Capital Debt*" has the meaning given in Section 6.2 (*Working Capital Debt*) of the Common Terms Agreement.

"*Working Capital Facility*" has the meaning given in the Credit Facility Agreement.

"*Working Capital Lenders*" has the meaning given in the Credit Facility Agreement.

"*Working Capital Loan Availability Period*" has the meaning given in the Credit Facility Agreement.

"*Working Capital Loans*" has the meaning given in the Credit Facility Agreement.

"*Write-Down and Conversion Powers*" means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

<u>Louisiana Defined Terms</u>. As used in the Common Terms Agreement, the Common Security and Account Agreement or another Finance Document, but without intending to alter or derogate from the choice of applicable law set forth in Section 23.12 of the Common Terms Agreement or in another provision of a Finance Document, the following terms have the following meanings: "real property" and "real estate" shall include immovable property; "fee simple" shall include full ownership; "personal property" shall include movable property; "tangible property" shall include corporeal property; "intangible property" shall include incorporeal property; "easements" shall include servitudes; "buildings" shall be deemed to include other constructions; "county" shall include a parish; the term "joint and several liability" and words of similar import shall be deemed to include *in solido* liability; and references to the UCC or the Uniform Commercial Code shall include the Louisiana Commercial Laws, La. R.S. §§ 10:1-101 *et seq*.

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule B-1**

**Disbursement Request Form (Term Loans)**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;B-1-1&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule B-2**

**Disbursement Request Form (Working Capital Loans)**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;B-2-1&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule B-3**

**Issuance Request Form (Letters of Credit)**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;B-3-1&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule C-1**

**Table of Requirements for Legal Opinions – Conditions to Closing**

[Omitted]

C-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule C-2**

**Table of Requirements for Legal Opinions – Conditions to Project Phase 2 Development**

[Omitted]

C-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule C-3**

**Table of Requirements for Legal Opinions – Conditions to permitted internal expansion**

[Omitted]

C-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule D-1**

**Form of Construction Budget** 

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;D-1-1&nbsp;&nbsp;&nbsp;&nbsp;

------

**Schedule D-2**

**Form of Construction Schedule**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;D-2-1&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule E**

**Know Your Customer Documentation**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;E-1&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule F**

**Material Permits**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule G**

**Disclosure Schedule**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule H**

**Material Project Agreements and Certain other Contracts**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule I**

**Change Orders**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule J**

**Transactions With Affiliates**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule K**

**[Reserved]**

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule L**

**Schedule of Minimum Insurance**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule M**

**Independent Insurance Experts**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Schedule N**

**Senior Creditors' Advisors and Consultants**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Schedule O**

**Phase 1 Lenders' Reliability Test Criteria**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule P-1**

**Replacement Facility Agent Accession Agreement**

[Omitted]

P-1-1

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule P-2**

**New Facility Agent Accession Agreement (additional Senior Debt)**

[Omitted]

P-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Schedule Q-1**

**Addresses For Notices to Obligors**

[Omitted]

Q-1-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Schedule Q-2**

**Addresses For Notices To Facility Agents and Facility Lenders**

[Omitted]

Q-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule R**

**Base Case Forecast**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule S-1**

**Form of General Subordination Agreement**

[Omitted]

S-1-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Schedule S-2**

**Form of Obligor Subordination Agreement**

[Omitted]

*.*

S-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule T**

**Knowledge Parties**

**(Definition of "Knowledge" – Schedule A to the Common Terms Agreement)**

---

| | |
|:---|:---|
| ***<u>Name</u>*** | ***<u>Title</u>*** |
| ***Michael Sabel*** | *Chief Executive Officer of the Sponsor* |
| ***Jonathan Thayer*** | ***Chief Financial Officer*** |
| ***Keith Larson*** | ***General Counsel*** |
| ***Fory Musser*** | ***Senior Vice President, Development*** |
| ***Brian Cothran*** | ***Chief Operations Officer*** |
| ***Leah Woodward*** | ***Treasurer*** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

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**Schedule U**

**Real Property Documents**

**(Definition of "Real Property Documents" – Schedule A to the Common Terms Agreement)**

(1)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by and between JADP Venture, LLC and the Borrower dated December 12, 2023, as evidenced by that certain Notice of Ground Lease by and between JADP Venture, LLC and the Borrower dated as of December 12, 2023, and recorded December 13, 2023, as Conveyance Instrument No. 356552, as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 17, 2025, recorded July 21, 2025 as Conveyance Instrument No. 360631, all in the official records of Cameron Parish, Louisiana. **(PARCEL C-2)**

(2)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by Henry Venture, LLC, a Louisiana limited liability company, as lessor, to the Borrower (as assignee of CP Marine Offloading LLC, a Delaware limited liability company, pursuant to that certain Assignment of Ground Lease Agreement by and between CP Marine Offloading, LLC, a Delaware limited liability company, (as assignee of Venture Global Calcasieu Pass, LLC, a Delaware limited liability company, pursuant to that certain Assignment of Ground Lease Agreement by and between Venture Global Calcasieu Pass, LLC, a Delaware limited liability company, and CP Marine Offloading, LLC, a Delaware limited liability company, dated as of March 20, 2019, and recorded March 21, 2019, as Conveyance Instrument No. 345015) and the Borrower dated as of November 17, 2023, and recorded November 20, 2023, as Conveyance Instrument No. 356358) dated as of March 11, 2019, as evidenced by that certain Notice of Ground Lease with Right of First Refusal by and between Henry Venture, LLC, a Louisiana limited liability company, and the Borrower (as assignee of CP Marine Offloading LLC, a Delaware limited liability company, pursuant to that certain Assignment of Ground Lease Agreement by and between CP Marine Offloading, LLC, a Delaware limited liability company (as assignee of Venture Global Calcasieu Pass, LLC, a Delaware limited liability company, pursuant to that certain Assignment of Ground Lease Agreement by and between Venture Global Calcasieu Pass, LLC, a Delaware limited liability company, and CP Marine Offloading, LLC, a Delaware limited liability company, dated as of March 20, 2019, and recorded March 21, 2019, as Conveyance Instrument No. 345015) and the Borrower dated as of November 17, 2023, and recorded November 20, 2023, as Conveyance Instrument No. 356358), as lessee, dated as of March 11, 2019, and recorded March 18, 2019, as File No. 344981, as evidenced by that certain First Amendment to Notice of Ground Lease Agreement with Right of First Refusal dated July 17, 2025, recorded July 21, 2025 as Instrument No. 360630, all in the official records of Cameron Parish, Louisiana. (**PARCELS D, E, AND F2**)

&nbsp;&nbsp;&nbsp;&nbsp;

------

(3)&nbsp;&nbsp;&nbsp;&nbsp;Servitude by and between Henry Venture, LLC and the Borrower dated as of December 18, 2023, and recorded December 21, 2023, as Conveyance Instrument No. 356623, as corrected by that certain Act of Correction by Henry Venture, LLC and the Borrower dated April 9, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359704, all in the official records of Cameron Parish, Louisiana. (**PARCELS I, K, AND A PORTION OF DAVIS ROAD ADJACENT THERETO**)

(4)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by Wilma Davis Bride Family, LLC, a Louisiana limited liability company, as lessor, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, as lessee, dated as of October 12, 2023, as evidenced by that certain Notice of Ground Lease Agreement by Wilma Davis Bride Family, LLC, a Louisiana limited liability company, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, dated as of October 12, 2023, and recorded on October 12, 2023, as File No. 356114, as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 11, 2025, recorded July 11, 2025 as Conveyance Instrument No. 360548, all in the official records of Cameron Parish, Louisiana. (**PARCEL O**)

(5)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by Ardoin Henry, LLC, a Louisiana limited liability company, as lessor, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, as lessee, dated as of October 12, 2023, as evidenced by that certain Notice of Ground Lease Agreement by Ardoin Henry, LLC, a Louisiana limited liability company, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, dated as of October 12, 2023, and recorded on October 12, 2023, as File No. 356115, as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 24, 2025, recorded July 24, 2025 as Conveyance Instrument No. 360675, all in the official records of Cameron Parish, Louisiana. (**PARCEL P**)

(6)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by Miller Estate Leasing Company, LLC, a Louisiana limited liability company, as lessor, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, as lessee, dated as of October 12, 2023, as evidenced by that certain Notice of Ground Lease Agreement by Miller Estate Leasing Company, LLC, a Louisiana limited liability company, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, dated as of October 12, 2023, and recorded on October 13, 2023, as File No. 356120, as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 21, 2025, recorded July 21, 2025 as Instrument No. 360639, all in the official records of Cameron Parish, Louisiana. (**PARCELS R AND T**)

(7)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by Cameron Land Ventures, LLC, a Delaware limited liability company, as lessor, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, as lessee, dated as of September 29, 2023, as evidenced by that certain Notice of Ground Lease Agreement by Cameron Land Ventures, LLC, a Delaware limited liability company, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, dated as of September 29, 2023, and recorded on September 28, 2023, as File

&nbsp;&nbsp;&nbsp;&nbsp;

------

No. 3560111, as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 11, 2025, recorded July 11, 2025 as Instrument No. 360549, all in the official records of Cameron Parish, Louisiana. (**PARCEL S**)

(8)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by Charlotte Ann Labove and Carlotta Ann Savoie, as lessors, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, as lessee, dated as of October 12, 2023, as evidenced by that certain Notice of Ground Lease Agreement by Charlotte Ann Labove and Carlotta Ann Savoie to Venture Global CP2 LNG, LLC, a Delaware limited liability company, dated as of October 12, 2023, and recorded on October 13, 2023, as File No. 356121 and File No. 356117, as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 17, 2025, recorded July 21, 2025 as Conveyance Instrument No. 360629, all in the official records of Cameron Parish, Louisiana. (**PARCELS U AND V**)

(9)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by Cameron Parish Port, Harbor and Terminal District, a political subdivision of the State of Louisiana, as lessor, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, as lessee, dated as of October 24, 2023, as evidenced by that certain Notice of Ground Lease Agreement by Cameron Parish Port, Harbor and Terminal District, a political subdivision of the State of Louisiana, to Venture Global CP2 LNG, LLC, a Delaware limited liability company, dated as of October 24, 2023, and recorded on October 30, 2023, as File No. 356182, as effected by that certain Partial Assignment of Ground Lease Agreement, dated July 7, 2025, recorded July 8, 2025 as Instrument No. 360524, as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 17, 2025, recorded July 21, 2025 as Instrument No. 360632, all in the official records of Cameron Parish, Louisiana. (**PARCEL X**)

(10)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by and between Wilma Davis Bride Family, LLC and the Borrower (as assignee of pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359694) dated as of October 30, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and between Wilma Davis Bride Family, LLC and the Borrower (as assignee of pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359694) dated as of October 30, 2023, and recorded November 13, 2023, as Conveyance Instrument No. 356283, as amended by that certain First Amendment to Ground Lease Agreement dated June 6, 2025 as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated June 6, 2025, recorded June 6, 2025 as Conveyance Instrument No. 360239, and as evidenced by that certain Second Amendment to Notice of Ground Lease Agreement dated July 11, 2025, recorded July 11, 2025 as Conveyance Instrument No. 360550, all in the official records of Cameron Parish, Louisiana. **(PARCEL EE)**

&nbsp;&nbsp;&nbsp;&nbsp;

------

(11)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by and among Donald Maurice Drost, Daniel Kenneth Drost, William David Drost, and the Borrower (as assignee of Cameron Land Ventures, LLC, pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359695) dated as of October 30, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and among Donald Maurice Drost, Daniel Kenneth Drost, William David Drost, and the Borrower (as assignee of Cameron Land Ventures, LLC, pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359695) dated as of October 30, 2023, and recorded November 13, 2023, as Conveyance Instrument No. 356284, as amended by that certain First Amendment to Ground Lease Agreement dated July 17, 2025 as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 17, 2025, recorded July 22, 2025 as Conveyance Instrument No. 360664, all in the official records of Cameron Parish, Louisiana. **(PARCEL GG)**

(12)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by and between Dallas Clyde Pichnic, Jr. and the Borrower (as assignee of Cameron Land Ventures, LLC pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359696) dated as of October 30, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and between Dallas Clyde Pichnic, Jr. and the Borrower (as assignee of Cameron Land Ventures, LLC pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359696) dated as of October 30, 2023, and recorded November 13, 2023, as Conveyance Instrument No. 356285, as amended by that certain First Amendment to Ground Lease Agreement dated July 21, 2025 as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 21, 2025, recorded July 21, 2025 as Conveyance Instrument No. 360640, all in the official records of Cameron Parish, Louisiana. **(PARCEL II)**

(13)&nbsp;&nbsp;&nbsp;&nbsp;Ground Lease Agreement by and among Marjorie Pichnic Rorex, Tamara Lynn Rorex, Shane Wyatt Rorex, and the Borrower (as assignee of Cameron Land Ventures, LLC pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359697) dated as of October 30, 2023, as evidenced by that certain Notice of Ground Lease Agreement by and among Marjorie Pichnic Rorex, Tamara Lynn Rorex, Shane Wyatt Rorex, and the Borrower (as assignee of Cameron Land Ventures, LLC pursuant to that certain Assignment of Ground Lease Agreement by and between Cameron Land Ventures, LLC and the Borrower dated as of April 8, 2025, and recorded April 9, 2025, as Conveyance Instrument No. 359697) dated as of October 30, 2023, and recorded November 13, 2023, as Conveyance Instrument No.

&nbsp;&nbsp;&nbsp;&nbsp;

------

356286, as amended by that certain First Amendment to Ground Lease Agreement dated July 24, 2025 as evidenced by that certain First Amendment to Notice of Ground Lease Agreement dated July 24, 2025, recorded July 24, 2025 as Instrument No. 360676, all in the official records of Cameron Parish, Louisiana. **(PARCEL JJ)**

**1.&nbsp;&nbsp;&nbsp;&nbsp;**

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Schedule V**

**Schedule of Certain Real Property Rights**

[Omitted]

------

**Schedule W**

**Form of Disbursement Endorsement**

[Omitted]

------

**Schedule X**

**Phase I Environmental Assessments**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Schedule Y**

**Disqualified Institutions**

**(Definition of "Disqualified Institution" – Schedule A to the Common Terms Agreement)** 

[Omitted]

------

**Schedule Z**

**Disqualified Advisors**

**(Definition of "Disqualified Advisors" – Schedule A to the Common Terms Agreement)** 

[Omitted]

------

**Schedule AA**

**Survey Endorsements**

**(Definitions "Survey Endorsements" – Schedule A to the Common Terms Agreement)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;ALTA 9.7-06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restrictions, Encroachments, Minerals – Land Under Development

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;ALTA 17-06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Access and Entry

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;ALTA 17.2-06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utility Access

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;ALTA 19-06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contiguity-Multiple Parcels

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;ALTA 25-06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Same as Survey

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Schedule 5.1(f)(ii)**

**prior locations**

[Omitted]

5.1(f)(ii)-1

------

**Schedule 5.2(m)**

**real property interests**

[Omitted]

5.2(m)-1

&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 10.3

**Exhibit 10.3**

*Execution Version*

**Certain identified information has been omitted from this document because (i) it is not material and is the type that the Company customarily and actually treats as private or confidential, and/or (ii) if disclosure would constitute a clearly unwarranted invasion of personal privacy and has been marked with "[\*\*\*]" to indicate where omissions have been made.**

**CREDIT AGREEMENT**

**among**

**CP2 LNG HOLDINGS, LLC,<br>as the Borrower, The Several Lenders<br>from Time to Time Party Hereto**

**and**

**THE BANK OF NOVA SCOTIA, HOUSTON BRANCH, <br>as Administrative Agent, Dated as of July 28, 2025**

**THE BANK OF NOVA SCOTIA, HOUSTON BRANCH and BANK OF AMERICA, N.A.<br>as Co-Lead Arrangers and Joint Bookrunners,**

**THE BANK OF NOVA SCOTIA, HOUSTON BRANCH and BANK OF AMERICA, N.A., STANDARD CHARTERED BANK, NEW YORK, BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH, BANCO SANTANDER, S.A., NEW YORK BRANCH, BARCLAYS BANK PLC**, **DEUTSCHE BANK AG, NEW YORK BRANCH**, **GOLDMAN SACHS BANK USA, ING CAPITAL LLC, JPMORGAN CHASE BANK, N.A., MIZUHO BANK, LTD., MUFG BANK, LTD., NATIONAL BANK OF CANADA, ROYAL BANK OF CANADA, SUMITOMO MITSUI BANKING CORPORATION**, and **WELLS FARGO BANK, N.A.**, <br>as Coordinating Lead Arrangers<br> **ICBC STANDARD BANK PLC** and **REGIONS BANK**, <br>as Joint Lead Arrangers<br>

&nbsp;&nbsp;&nbsp;&nbsp;

------

**TABLE OF CONTENTS**

<u>Page</u>

SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS&nbsp;&nbsp;&nbsp;&nbsp;1

Section 1.1&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms&nbsp;&nbsp;&nbsp;&nbsp;1

Section 1.2&nbsp;&nbsp;&nbsp;&nbsp;Other Definitional Provisions&nbsp;&nbsp;&nbsp;&nbsp;31

Section 1.3&nbsp;&nbsp;&nbsp;&nbsp;Timing of Payment or Performance&nbsp;&nbsp;&nbsp;&nbsp;32

Section 1.4&nbsp;&nbsp;&nbsp;&nbsp;Rates&nbsp;&nbsp;&nbsp;&nbsp;32

SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;LOANS&nbsp;&nbsp;&nbsp;&nbsp;33

Section 2.1&nbsp;&nbsp;&nbsp;&nbsp;Loans&nbsp;&nbsp;&nbsp;&nbsp;33

Section 2.2&nbsp;&nbsp;&nbsp;&nbsp;Borrowing Mechanics for Loans.&nbsp;&nbsp;&nbsp;&nbsp;33

Section 2.3&nbsp;&nbsp;&nbsp;&nbsp;Pro Rata Shares; Availability of Funds&nbsp;&nbsp;&nbsp;&nbsp;34

Section 2.4&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds&nbsp;&nbsp;&nbsp;&nbsp;35

Section 2.5&nbsp;&nbsp;&nbsp;&nbsp;Evidence of Debt; Register; Lenders' Books and Records; Notes&nbsp;&nbsp;&nbsp;&nbsp;35

Section 2.6&nbsp;&nbsp;&nbsp;&nbsp;Interest on Loans&nbsp;&nbsp;&nbsp;&nbsp;36

Section 2.7&nbsp;&nbsp;&nbsp;&nbsp;Conversion/Continuation&nbsp;&nbsp;&nbsp;&nbsp;37

Section 2.8&nbsp;&nbsp;&nbsp;&nbsp;Default Interest&nbsp;&nbsp;&nbsp;&nbsp;38

Section 2.9&nbsp;&nbsp;&nbsp;&nbsp;Voluntary Prepayments&nbsp;&nbsp;&nbsp;&nbsp;38

Section 2.10&nbsp;&nbsp;&nbsp;&nbsp;Mandatory Prepayments&nbsp;&nbsp;&nbsp;&nbsp;39

Section 2.11&nbsp;&nbsp;&nbsp;&nbsp;Application of Prepayments/Reductions&nbsp;&nbsp;&nbsp;&nbsp;40

Section 2.12&nbsp;&nbsp;&nbsp;&nbsp;General Provisions Regarding Payments&nbsp;&nbsp;&nbsp;&nbsp;41

Section 2.13&nbsp;&nbsp;&nbsp;&nbsp;Ratable Sharing&nbsp;&nbsp;&nbsp;&nbsp;42

Section 2.14&nbsp;&nbsp;&nbsp;&nbsp;Making or Maintaining Term SOFR Loans&nbsp;&nbsp;&nbsp;&nbsp;42

Section 2.15&nbsp;&nbsp;&nbsp;&nbsp;Increased Costs; Capital Requirements&nbsp;&nbsp;&nbsp;&nbsp;44

Section 2.16&nbsp;&nbsp;&nbsp;&nbsp;Taxes&nbsp;&nbsp;&nbsp;&nbsp;45

Section 2.17&nbsp;&nbsp;&nbsp;&nbsp;Obligation to Mitigate&nbsp;&nbsp;&nbsp;&nbsp;49

Section 2.18&nbsp;&nbsp;&nbsp;&nbsp;Removal or Replacement of a Lender&nbsp;&nbsp;&nbsp;&nbsp;49

Section 2.19&nbsp;&nbsp;&nbsp;&nbsp;Benchmark Replacement Setting&nbsp;&nbsp;&nbsp;&nbsp;50

Section 2.20&nbsp;&nbsp;&nbsp;&nbsp;Illegality&nbsp;&nbsp;&nbsp;&nbsp;52

Section 2.21&nbsp;&nbsp;&nbsp;&nbsp;Fees&nbsp;&nbsp;&nbsp;&nbsp;52

SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS AND WARRANTIES&nbsp;&nbsp;&nbsp;&nbsp;53

Section 3.1&nbsp;&nbsp;&nbsp;&nbsp;Financial Condition&nbsp;&nbsp;&nbsp;&nbsp;53

Section 3.2&nbsp;&nbsp;&nbsp;&nbsp;No Change&nbsp;&nbsp;&nbsp;&nbsp;53

Section 3.3&nbsp;&nbsp;&nbsp;&nbsp;Existence; Compliance with Law&nbsp;&nbsp;&nbsp;&nbsp;53

Section 3.4&nbsp;&nbsp;&nbsp;&nbsp;Power; Authorization; Enforceable Obligations&nbsp;&nbsp;&nbsp;&nbsp;53

Section 3.5&nbsp;&nbsp;&nbsp;&nbsp;No Legal Bar&nbsp;&nbsp;&nbsp;&nbsp;54

Section 3.6&nbsp;&nbsp;&nbsp;&nbsp;No Litigation&nbsp;&nbsp;&nbsp;&nbsp;54

Section 3.7&nbsp;&nbsp;&nbsp;&nbsp;No Default&nbsp;&nbsp;&nbsp;&nbsp;54

Section 3.8&nbsp;&nbsp;&nbsp;&nbsp;Ownership of Property; Liens&nbsp;&nbsp;&nbsp;&nbsp;54

Section 3.9&nbsp;&nbsp;&nbsp;&nbsp;Taxes&nbsp;&nbsp;&nbsp;&nbsp;54

Section 3.10&nbsp;&nbsp;&nbsp;&nbsp;Margin Regulations&nbsp;&nbsp;&nbsp;&nbsp;54

Section 3.11&nbsp;&nbsp;&nbsp;&nbsp;Nature of Business&nbsp;&nbsp;&nbsp;&nbsp;55

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Section 3.12&nbsp;&nbsp;&nbsp;&nbsp;ERISA&nbsp;&nbsp;&nbsp;&nbsp;55

Section 3.13&nbsp;&nbsp;&nbsp;&nbsp;Investment Company Act&nbsp;&nbsp;&nbsp;&nbsp;55

Section 3.14&nbsp;&nbsp;&nbsp;&nbsp;Subsidiaries; Capitalization&nbsp;&nbsp;&nbsp;&nbsp;55

Section 3.15&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds&nbsp;&nbsp;&nbsp;&nbsp;55

Section 3.16&nbsp;&nbsp;&nbsp;&nbsp;Accuracy of Information, Etc.&nbsp;&nbsp;&nbsp;&nbsp;55

Section 3.17&nbsp;&nbsp;&nbsp;&nbsp;Security Documents&nbsp;&nbsp;&nbsp;&nbsp;56

Section 3.18&nbsp;&nbsp;&nbsp;&nbsp;Solvency&nbsp;&nbsp;&nbsp;&nbsp;56

Section 3.19&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness and Liabilities&nbsp;&nbsp;&nbsp;&nbsp;56

Section 3.20&nbsp;&nbsp;&nbsp;&nbsp;Anti-Money Laundering and Anti-Corruption Laws; Sanctions&nbsp;&nbsp;&nbsp;&nbsp;57

Section 3.21&nbsp;&nbsp;&nbsp;&nbsp;Federal Taxpayer Identification Number&nbsp;&nbsp;&nbsp;&nbsp;58

Section 3.22&nbsp;&nbsp;&nbsp;&nbsp;Pari Passu Ranking&nbsp;&nbsp;&nbsp;&nbsp;58

Section 3.23&nbsp;&nbsp;&nbsp;&nbsp;No Employees&nbsp;&nbsp;&nbsp;&nbsp;58

Section 3.24&nbsp;&nbsp;&nbsp;&nbsp;Equator Principles&nbsp;&nbsp;&nbsp;&nbsp;58

Section 3.25&nbsp;&nbsp;&nbsp;&nbsp;Accounts&nbsp;&nbsp;&nbsp;&nbsp;58

Section 3.26&nbsp;&nbsp;&nbsp;&nbsp;Affected Financial Institutions&nbsp;&nbsp;&nbsp;&nbsp;58

Section 3.27&nbsp;&nbsp;&nbsp;&nbsp;Project Representations&nbsp;&nbsp;&nbsp;&nbsp;58

SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;CONDITIONS PRECEDENT&nbsp;&nbsp;&nbsp;&nbsp;58

Section 4.1&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Closing Date&nbsp;&nbsp;&nbsp;&nbsp;58

SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;AFFIRMATIVE COVENANTS&nbsp;&nbsp;&nbsp;&nbsp;62

Section 5.1&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements&nbsp;&nbsp;&nbsp;&nbsp;62

Section 5.2&nbsp;&nbsp;&nbsp;&nbsp;Certificates; Other Information&nbsp;&nbsp;&nbsp;&nbsp;63

Section 5.3&nbsp;&nbsp;&nbsp;&nbsp;Payment of Taxes and Other Obligations&nbsp;&nbsp;&nbsp;&nbsp;65

Section 5.4&nbsp;&nbsp;&nbsp;&nbsp;Conduct of Business and Maintenance of Existence; Compliance with Law&nbsp;&nbsp;&nbsp;&nbsp;65

Section 5.5&nbsp;&nbsp;&nbsp;&nbsp;Inspection of Property; Books and Records; Discussions&nbsp;&nbsp;&nbsp;&nbsp;65

Section 5.6&nbsp;&nbsp;&nbsp;&nbsp;Notices&nbsp;&nbsp;&nbsp;&nbsp;65

Section 5.7&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Lien; Further Assurances; Additional Collateral&nbsp;&nbsp;&nbsp;&nbsp;66

Section 5.8&nbsp;&nbsp;&nbsp;&nbsp;Auditors&nbsp;&nbsp;&nbsp;&nbsp;66

Section 5.9&nbsp;&nbsp;&nbsp;&nbsp;Separateness&nbsp;&nbsp;&nbsp;&nbsp;67

Section 5.10&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds&nbsp;&nbsp;&nbsp;&nbsp;67

Section 5.11&nbsp;&nbsp;&nbsp;&nbsp;Sanctions; Anti-Corruption Laws&nbsp;&nbsp;&nbsp;&nbsp;67

Section 5.12&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Title&nbsp;&nbsp;&nbsp;&nbsp;67

Section 5.13&nbsp;&nbsp;&nbsp;&nbsp;Early Cargo Revenues&nbsp;&nbsp;&nbsp;&nbsp;67

Section 5.14&nbsp;&nbsp;&nbsp;&nbsp;Tax Treatment&nbsp;&nbsp;&nbsp;&nbsp;68

Section 5.15&nbsp;&nbsp;&nbsp;&nbsp;Interest Reserve Account&nbsp;&nbsp;&nbsp;&nbsp;68

Section 5.16&nbsp;&nbsp;&nbsp;&nbsp;Early Cargo Revenue Account&nbsp;&nbsp;&nbsp;&nbsp;68

Section 5.17&nbsp;&nbsp;&nbsp;&nbsp;VGCP2 Project Financing&nbsp;&nbsp;&nbsp;&nbsp;68

Section 5.18&nbsp;&nbsp;&nbsp;&nbsp;Additional Beneficial Ownership Certification&nbsp;&nbsp;&nbsp;&nbsp;68

SECTION 6.&nbsp;&nbsp;&nbsp;&nbsp;NEGATIVE COVENANTS&nbsp;&nbsp;&nbsp;&nbsp;68

Section 6.1&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Indebtedness&nbsp;&nbsp;&nbsp;&nbsp;68

Section 6.2&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Liens&nbsp;&nbsp;&nbsp;&nbsp;69

Section 6.3&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Fundamental Changes&nbsp;&nbsp;&nbsp;&nbsp;69

Section 6.4&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Disposition of Property&nbsp;&nbsp;&nbsp;&nbsp;70

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Section 6.5&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Restricted Payments&nbsp;&nbsp;&nbsp;&nbsp;70

Section 6.6&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Investments&nbsp;&nbsp;&nbsp;&nbsp;70

Section 6.7&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Transactions with Affiliates&nbsp;&nbsp;&nbsp;&nbsp;71

Section 6.8&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Amendments to Organizational Documents&nbsp;&nbsp;&nbsp;&nbsp;71

Section 6.9&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Changes in Fiscal Periods or Accounting Policies&nbsp;&nbsp;&nbsp;&nbsp;71

Section 6.10&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Negative Pledge Clauses&nbsp;&nbsp;&nbsp;&nbsp;71

Section 6.11&nbsp;&nbsp;&nbsp;&nbsp;No Employees&nbsp;&nbsp;&nbsp;&nbsp;71

Section 6.12&nbsp;&nbsp;&nbsp;&nbsp;Limitations on Joint Ventures and Subsidiaries&nbsp;&nbsp;&nbsp;&nbsp;72

Section 6.13&nbsp;&nbsp;&nbsp;&nbsp;Limitations on Changes in Nature of Business; Tax Matters&nbsp;&nbsp;&nbsp;&nbsp;72

Section 6.14&nbsp;&nbsp;&nbsp;&nbsp;Limitations on Sale and Leaseback Transactions&nbsp;&nbsp;&nbsp;&nbsp;72

Section 6.15&nbsp;&nbsp;&nbsp;&nbsp;Margin Regulations&nbsp;&nbsp;&nbsp;&nbsp;72

Section 6.16&nbsp;&nbsp;&nbsp;&nbsp;Anti-Money Laundering and Anti-Corruption Laws; Sanctions&nbsp;&nbsp;&nbsp;&nbsp;72

Section 6.17&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Restrictions on Subsidiary Distributions&nbsp;&nbsp;&nbsp;&nbsp;72

Section 6.18&nbsp;&nbsp;&nbsp;&nbsp;Hedge Agreements&nbsp;&nbsp;&nbsp;&nbsp;73

SECTION 7.&nbsp;&nbsp;&nbsp;&nbsp;EVENTS OF DEFAULT&nbsp;&nbsp;&nbsp;&nbsp;73

Section 7.1&nbsp;&nbsp;&nbsp;&nbsp;Events of Default&nbsp;&nbsp;&nbsp;&nbsp;73

Section 7.2&nbsp;&nbsp;&nbsp;&nbsp;Application of Proceeds&nbsp;&nbsp;&nbsp;&nbsp;76

SECTION 8.&nbsp;&nbsp;&nbsp;&nbsp;THE ADMINISTRATIVE AGENT&nbsp;&nbsp;&nbsp;&nbsp;77

Section 8.1&nbsp;&nbsp;&nbsp;&nbsp;Appointment and Authority&nbsp;&nbsp;&nbsp;&nbsp;77

Section 8.2&nbsp;&nbsp;&nbsp;&nbsp;Rights as a Lender&nbsp;&nbsp;&nbsp;&nbsp;77

Section 8.3&nbsp;&nbsp;&nbsp;&nbsp;Exculpatory Provisions&nbsp;&nbsp;&nbsp;&nbsp;77

Section 8.4&nbsp;&nbsp;&nbsp;&nbsp;Reliance by Administrative Agent&nbsp;&nbsp;&nbsp;&nbsp;79

Section 8.5&nbsp;&nbsp;&nbsp;&nbsp;Delegation of Duties&nbsp;&nbsp;&nbsp;&nbsp;80

Section 8.6&nbsp;&nbsp;&nbsp;&nbsp;Resignation of Administrative Agent&nbsp;&nbsp;&nbsp;&nbsp;80

Section 8.7&nbsp;&nbsp;&nbsp;&nbsp;Non-Reliance on Administrative Agent and Other Lenders&nbsp;&nbsp;&nbsp;&nbsp;81

Section 8.8&nbsp;&nbsp;&nbsp;&nbsp;No Other Duties, Etc.&nbsp;&nbsp;&nbsp;&nbsp;81

Section 8.9&nbsp;&nbsp;&nbsp;&nbsp;Administrative Agent May File Proofs of Claim&nbsp;&nbsp;&nbsp;&nbsp;81

Section 8.10&nbsp;&nbsp;&nbsp;&nbsp;Collateral Matters&nbsp;&nbsp;&nbsp;&nbsp;82

Section 8.11&nbsp;&nbsp;&nbsp;&nbsp;Withholding Taxes&nbsp;&nbsp;&nbsp;&nbsp;82

Section 8.12&nbsp;&nbsp;&nbsp;&nbsp;Certain ERISA Matters&nbsp;&nbsp;&nbsp;&nbsp;82

Section 8.13&nbsp;&nbsp;&nbsp;&nbsp;Erroneous Payments&nbsp;&nbsp;&nbsp;&nbsp;84

SECTION 9.&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS&nbsp;&nbsp;&nbsp;&nbsp;85

Section 9.1&nbsp;&nbsp;&nbsp;&nbsp;Amendments and Waivers&nbsp;&nbsp;&nbsp;&nbsp;85

Section 9.2&nbsp;&nbsp;&nbsp;&nbsp;Notices&nbsp;&nbsp;&nbsp;&nbsp;87

Section 9.3&nbsp;&nbsp;&nbsp;&nbsp;No Waiver; Cumulative Remedies&nbsp;&nbsp;&nbsp;&nbsp;88

Section 9.4&nbsp;&nbsp;&nbsp;&nbsp;Survival of Representations and Warranties&nbsp;&nbsp;&nbsp;&nbsp;89

Section 9.5&nbsp;&nbsp;&nbsp;&nbsp;Payment of Expenses; Indemnification&nbsp;&nbsp;&nbsp;&nbsp;89

Section 9.6&nbsp;&nbsp;&nbsp;&nbsp;Successors and Assigns; Participations and Assignments&nbsp;&nbsp;&nbsp;&nbsp;90

Section 9.7&nbsp;&nbsp;&nbsp;&nbsp;Adjustments; Set-off&nbsp;&nbsp;&nbsp;&nbsp;93

Section 9.8&nbsp;&nbsp;&nbsp;&nbsp;Counterparts; E-Signature&nbsp;&nbsp;&nbsp;&nbsp;94

Section 9.9&nbsp;&nbsp;&nbsp;&nbsp;Severability&nbsp;&nbsp;&nbsp;&nbsp;94

Section 9.10&nbsp;&nbsp;&nbsp;&nbsp;Integration&nbsp;&nbsp;&nbsp;&nbsp;94

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Section 9.11&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING LAW&nbsp;&nbsp;&nbsp;&nbsp;94

Section 9.12&nbsp;&nbsp;&nbsp;&nbsp;Submission To Jurisdiction; Waivers&nbsp;&nbsp;&nbsp;&nbsp;94

Section 9.13&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgments&nbsp;&nbsp;&nbsp;&nbsp;95

Section 9.14&nbsp;&nbsp;&nbsp;&nbsp;Confidentiality&nbsp;&nbsp;&nbsp;&nbsp;96

Section 9.15&nbsp;&nbsp;&nbsp;&nbsp;WAIVERS OF JURY TRIAL&nbsp;&nbsp;&nbsp;&nbsp;97

Section 9.16&nbsp;&nbsp;&nbsp;&nbsp;USA PATRIOT ACT&nbsp;&nbsp;&nbsp;&nbsp;97

Section 9.17&nbsp;&nbsp;&nbsp;&nbsp;Payments Set Aside&nbsp;&nbsp;&nbsp;&nbsp;97

Section 9.18&nbsp;&nbsp;&nbsp;&nbsp;Releases of Collateral&nbsp;&nbsp;&nbsp;&nbsp;98

Section 9.19&nbsp;&nbsp;&nbsp;&nbsp;Time&nbsp;&nbsp;&nbsp;&nbsp;98

Section 9.20&nbsp;&nbsp;&nbsp;&nbsp;Divisions&nbsp;&nbsp;&nbsp;&nbsp;98

Section 9.21&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement and Consent to Bail-In of Affected Financial Institutions 99

Section 9.22&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement Regarding any Supported QFCs&nbsp;&nbsp;&nbsp;&nbsp;99

Section 9.23&nbsp;&nbsp;&nbsp;&nbsp;Limited Recourse&nbsp;&nbsp;&nbsp;&nbsp;100

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**SCHEDULES:**

1.1A&nbsp;&nbsp;&nbsp;&nbsp;Commitments

1.1B&nbsp;&nbsp;&nbsp;&nbsp;Disqualified Lenders

1.1C&nbsp;&nbsp;&nbsp;&nbsp;Disqualified Advisor List

3.8&nbsp;&nbsp;&nbsp;&nbsp;Ownership of Property; Liens

3.17&nbsp;&nbsp;&nbsp;&nbsp;UCC Filing Jurisdictions

4.1(e)&nbsp;&nbsp;&nbsp;&nbsp;Closing Date Lien Searches

**EXHIBITS:**

A&nbsp;&nbsp;&nbsp;&nbsp;Form of Compliance Certificate

B-1&nbsp;&nbsp;&nbsp;&nbsp;Form of Closing Certificate

B-2&nbsp;&nbsp;&nbsp;&nbsp;Form of Secretary's Certificate

C&nbsp;&nbsp;&nbsp;&nbsp;Form of Assignment and Acceptance

D-1&nbsp;&nbsp;&nbsp;&nbsp;Form of Equity Bridge Loan Note

D-2&nbsp;&nbsp;&nbsp;&nbsp;Form of Interest Reserve Loan Note

E-1&nbsp;&nbsp;&nbsp;&nbsp;Form of United States Tax Compliance Certificate (For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)

E-2&nbsp;&nbsp;&nbsp;&nbsp;Form of United States Tax Compliance Certificate (For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

E-3&nbsp;&nbsp;&nbsp;&nbsp;Form of United States Tax Compliance Certificate (For Non-U.S. Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)

E-4&nbsp;&nbsp;&nbsp;&nbsp;Form of United States Tax Compliance Certificate (For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes)

F&nbsp;&nbsp;&nbsp;&nbsp;Form of Solvency Certificate

G-1&nbsp;&nbsp;&nbsp;&nbsp;Form of Funding Notice

G-2&nbsp;&nbsp;&nbsp;&nbsp;Form of Conversion/Continuation Notice

H&nbsp;&nbsp;&nbsp;&nbsp;Form of Payoff Letter

I&nbsp;&nbsp;&nbsp;&nbsp;Form of VGPL Certificate

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**CREDIT AGREEMENT**

**CREDIT AGREEMENT**, dated as of July 28, 2025 (this "<u>Agreement</u>"), among **CP2 LNG HOLDINGS, LLC**, a Delaware limited liability company (the "<u>Borrower</u>"), the several banks and other financial institutions or entities from time to time party hereto in their capacity as lenders (the "<u>Lenders</u>"), and **THE BANK OF NOVA SCOTIA, HOUSTON BRANCH**, as administrative agent (in such capacity, together with any successor appointed in accordance with <u>Section 8.6</u>, the "<u>Administrative Agent</u>").

W I T N E S S E T H:

WHEREAS, capitalized terms used in these recitals shall have the respective meanings set forth for such terms in <u>Section 1.1</u>;

WHEREAS, CP2 LNG Holdings Pledgor, LLC, a Delaware limited liability company (the "<u>Pledgor</u>"), owns 100% of the outstanding equity interests in the Borrower, which in turn owns 100% of the outstanding equity interests in CP2 LNG Pledgor, LLC, a Delaware limited liability company (the "<u>Project Pledgor</u>"), which in turn owns 100% of the outstanding equity interests in each of Venture Global CP2 LNG, LLC, a Delaware limited liability company (the "<u>Project Borrower</u>"), CP2 Procurement, LLC, a Delaware limited liability company ("<u>CP2 Procurement</u>"), and Venture Global CP Express, LLC, a Delaware limited liability company ("<u>CP Express</u>" and, collectively with the Borrower, CP2 Procurement, the Project Pledgor and the Project Borrower, the "<u>VGCP2 Group Entities</u>" and each, a "<u>VGCP2 Group Entity</u>");

WHEREAS, the Lenders have agreed to extend to the Borrower (a) a secured equity bridge credit facility in an aggregate principal amount of $2,809,000,000 (the "<u>Equity Bridge Facility</u>") and (b) a secured interest reserve credit facility in an aggregate principal amount of $191,000,000 (the "<u>Interest Reserve Facility</u>" and, collectively with the Equity Bridge Facility, the "<u>Facilities</u>"); and

WHEREAS, the Borrower has requested that Lenders lend to the Borrower (a) Equity Bridge Loans, the proceeds of which will be (A) first, contributed by the Borrower to the Project Pledgor, (B) second, contributed by the Project Pledgor to the Project Borrower, (C) third, deposited by the Project Borrower in the Construction Account of the Project Borrower as an equity contribution and (D) thereafter, (i) on the Closing Date used to repay in full the indebtedness under the CP2 Pre-FID Bridge Facility and (ii) thereafter, applied by the Project Borrower (on behalf of itself and the Project Guarantors) to pay Project Costs then due and payable in accordance with the Project Financing Documents, and (b) Interest Reserve Loans, the proceeds of which will be used by the Borrower to pay interest, fees and other expenses in connection with the Facilities.

NOW, THEREFORE, in consideration of the premises and mutual agreements contained herein, the parties hereto agree as follows:

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SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS

Section 1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. As used in this Agreement, the terms listed in this <u>Section 1.1</u> shall have the respective meanings set forth in this <u>Section 1.1</u>.

"<u>Account Control Agreements</u>" means, collectively, (a) the Deposit Account Control Agreement (ECR Account), dated as of the Closing Date, among the Borrower, Bank of America, N.A., as intermediary, and the Administrative Agent, which such agreement is entered into in respect of the ECR Account; (b) the Deposit Account Control Agreement (Interest Reserve Account), dated as of the Closing Date, among the Borrower, Bank of America, N.A., as intermediary, and the Administrative Agent, which such agreement is entered into in respect of the Interest Reserve Account; and (c) any account control agreement (in form and substance satisfactory to the Administrative Agent) entered into in respect of the Prepayment Account or any successor account of any of the Collateral Accounts.

"<u>Administrative Agent</u>" has the meaning assigned to such term in the preamble hereto.

"<u>Affected Financial Institution</u>" means (a) any EEA Financial Institution or (b) any UK Financial Institution.

"<u>Affected Lender</u>" means (a) the Required Lenders, if the Required Lenders determine that Term SOFR for any requested Interest Period with respect to a proposed Term SOFR Loan does not adequately and fairly reflect the cost to such Lenders of making and maintaining such Loan pursuant to <u>Section 2.14(a)(ii)</u>, (b) all Lenders, if the Administrative Agent determines that "<u>Term SOFR</u>" cannot be determined pursuant to the definition thereof pursuant to <u>Section 2.14(a)(i)</u> and (c) such Lender, if any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable lending office to make, maintain or fund Loans whose interest is determined by reference to SOFR, the Term SOFR Reference Rate or Term SOFR, or to determine or charge interest based upon SOFR, the Term SOFR Reference Rate or Term SOFR pursuant to <u>Section 2.20</u>.

"<u>Affiliate</u>" means, as to any Person, any other Person that, directly or indirectly, is in control of, is controlled by, or is under common control with, such Person. For purposes of this definition, "control" of a Person means the power, directly or indirectly, to direct or cause the direction of the management and policies of such Person, whether by contract or otherwise.

"<u>Agent</u>" means the Administrative Agent and any other Person appointed under the Loan Documents to serve in an agent or similar capacity.

"<u>Agent Parties</u>" has the meaning assigned to such term in <u>Section 9.2</u>.

"<u>Aggregate Amounts Due</u>" has the meaning assigned to such term in <u>Section 2.13</u>.

"<u>Agreement</u>" has the meaning assigned to such term in the preamble.

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"<u>Anti-Corruption Laws</u>" means the U.S. Foreign Corrupt Practices Act of 1977, as amended, and all similar laws, rules, and regulations of any jurisdiction applicable to the Pledgor or any VGCP2 Group Entity concerning or relating to bribery or corruption.

"<u>Anti-Money Laundering Laws</u>" has the meaning assigned to such term in <u>Section 3.20(a)</u>.

"<u>Applicable Margin</u>" means, with respect to any Term SOFR Loan or Base Rate Loan, the applicable rate per annum set forth below, under the caption "<u>Term SOFR Loan</u>" or "<u>Base Rate Loan</u>", respectively:

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| | |
|:---|:---|
| **Term SOFR Loan:** | **Base Rate Loan:** |
| 3.50% | 2.50% |

---

"<u>Approved Owner</u>" means any Person that, directly or through an Affiliate, (a) either (i) has an Investment Grade rating or (ii) is a Person that has a tangible net worth or assets under management of at least $5 billion; <u>provided</u> that, any Approved Owner shall satisfy applicable "know your customer" requirements of the Lenders and (b) is in compliance with the requirements of the PATRIOT Act (including applicable, and uniformly applied, "know your customer" regulations) and all other applicable Anti-Money Laundering Laws.

"<u>Arrangers</u>" means the Coordinating Lead Arrangers and the Joint Lead Arrangers.

"<u>Asset Sale Distributions</u>" means Net Cash Proceeds (as defined in the Common Terms Agreement) received by the Project Borrower or any Project Guarantor from the sale of Project Property (as defined in the Common Terms Agreement) and distributed to and actually received by the Borrower from any other VGCP2 Group Entity.

"<u>Assignee</u>" has the meaning assigned to such term in <u>Section 9.6</u>.

"<u>Assignment and Acceptance</u>" means an agreement substantially in the form of <u>Exhibit C</u>.

"<u>Assignor</u>" has the meaning assigned to such term in <u>Section 9.6</u>.

"<u>Available Tenor</u>" means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (a) if such Benchmark is a term rate, any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an interest period pursuant to this Agreement or (b) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark pursuant to this Agreement, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of "Interest Period" pursuant to <u>Section 2.19(d)</u>.

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"<u>Bail-In Action</u>" means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution.

"<u>Bail-In Legislation</u>" means, (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).

"<u>Bankruptcy Code</u>" means the United States Bankruptcy Reform Act of 1978 and codified as 11 U.S.C. Section 11 *et seq*.

"<u>Base Case Projections</u>" has the meaning assigned to such term in <u>Section 4.1(p)</u>.

"<u>Base Rate</u>" means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day <u>plus</u> ½ of 1% and (c) the sum of (i) Term SOFR for a one-month interest period in effect on such day <u>plus</u> (ii) the difference between the Applicable Margin for Term SOFR Loans and the Applicable Margin for Base Rate Loans. Any change in the Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or Term SOFR shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or Term SOFR, respectively. If the Base Rate is being used as an alternate rate of interest pursuant to <u>Section 2.15</u> (for the avoidance of doubt, only until the Benchmark Replacement has been determined pursuant thereto), then the Base Rate shall be the greater of clauses (a) and (b) above and shall be determined without reference to clause (c) above. For the avoidance of doubt, if the Base Rate as determined pursuant to the foregoing would be less than 1.0%, such rate shall be deemed to be 1.0% for purposes of this Agreement.

"<u>Base Rate Term SOFR Determination Day</u>" has the meaning specified in the definition of "Term SOFR".

"<u>Benchmark</u>" means, initially, the Term SOFR Reference Rate; <u>provided</u> that, if a Benchmark Transition Event has occurred with respect to the Term SOFR Reference Rate or the then-current Benchmark, then "Benchmark" means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to <u>Section 2.19(a)</u>.

"<u>Benchmark Replacement</u>" means, with respect to any Benchmark Transition Event, the sum of: (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate

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as a replacement to the then-current Benchmark for Dollar-denominated syndicated credit facilities at such time and (b) the related Benchmark Replacement Adjustment; <u>provided</u> that, if such Benchmark Replacement as so determined would be less than the Floor, such Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.

"<u>Benchmark Replacement Adjustment</u>" means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities at such time.

"<u>Benchmark Replacement Date</u>" means the earliest to occur of the following events with respect to the then-current Benchmark:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;in the case of clause (a) or (b) of the definition of "Benchmark Transition Event," the later of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;in the case of clause (c) of the definition of "Benchmark Transition Event," the first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by or on behalf of the administrator of such Benchmark (or such component thereof) or the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be non-representative or non-compliant with or non-aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks; <u>provided</u> that, such non-representativeness, non-compliance or non-alignment will be determined by reference to the most recent statement or publication referenced in such clause (c) and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date.

For the avoidance of doubt, the "Benchmark Replacement Date" will be deemed to have occurred in the case of clause (a) or (b) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).

"<u>Benchmark Transition Event</u>" means the occurrence of one or more of the following events with respect to the then-current Benchmark:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely; <u>provided</u> that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely; <u>provided</u> that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) or the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are not, or as of a specified future date, will not be, representative or in compliance with or aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks.

For the avoidance of doubt, a "Benchmark Transition Event" will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).

"<u>Benchmark Transition Start Date</u>" means, in the case of a Benchmark Transition Event, the earlier of (a) the applicable Benchmark Replacement Date and (b) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than ninety (90) days after such statement or publication, the date of such statement or publication).

"<u>Benchmark Unavailability Period</u>" means, the period (if any) (a) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with <u>Section 2.19</u> and (b) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with <u>Section 2.19</u>.

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"<u>Beneficial Ownership Certification</u>" means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation.

"<u>Beneficial Ownership Regulation</u>" means 31 C.F.R. § 1010.230.

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

"<u>Benefited Lender</u>" has the meaning assigned to such term in <u>Section 9.7(a)</u>.

"<u>BHC Act Affiliate</u>" of a party means an "affiliate" (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.

"<u>Borrower</u>" has the meaning assigned to such term in the preamble hereto.

"<u>Borrower Materials</u>" has the meaning assigned to such term in <u>Section 9.2</u>.

"<u>Business Day</u>" means any day other than a Saturday or a Sunday or a legal holiday on which commercial banks are authorized or required by law to be closed for business in New York, New York; <u>provided</u>, that, when used in connection with a Term SOFR Loan, or any other calculation or determination involving SOFR, the term "Business Day" means any day that is only a U.S. Government Securities Business Day.

"<u>Capital Lease</u>" means any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet under GAAP.

"<u>Capital Lease Obligations</u>" means, with respect to any Person, the obligations of such Person to pay rent or other amounts under any Capital Lease and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP.

"<u>Capital Stock</u>" 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) and any and all warrants, rights or options to purchase any of the foregoing, but excluding debt convertible or exchangeable into such capital stock or equivalent ownership interests.

"<u>Cash Equivalents</u>" means (a) marketable direct obligations issued by, or unconditionally guaranteed by, the United States government or issued by any agency thereof and backed by the full faith and credit of the United States maturing within one year from the date of acquisition; (b) certificates of deposit, time deposits, eurodollar time deposits or overnight bank deposits having maturities of six (6) months or less from the date of acquisition issued by any Lender or by any commercial bank organized under the laws of the United States of America or any state

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thereof having combined capital and surplus of not less than $500,000,000 as of the date of acquisition thereof; (c) commercial paper of an issuer rated in the United States at least A-2 by S&P or P-2 by Moody's as of the date of acquisition thereof or an equivalent thereof by any other nationally recognized rating agency as of the date of acquisition thereof, if both named rating agencies cease publishing ratings of commercial paper issuers generally, and maturing within six (6) months from the date of acquisition; (d) repurchase obligations of any Lender or of any commercial bank satisfying the requirements of <u>clause (b)</u> of this definition, having a term of not more than thirty (30) days with respect to securities issued or fully guaranteed or insured by the United States government; (e) securities with maturities of one year or less from the date of acquisition issued or fully guaranteed by any state, province, commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are rated at least A by S&P or A by Moody's as of the date of acquisition thereof; (f) securities with maturities of six (6) months or less from the date of acquisition backed by standby letters of credit issued by any Lender or any commercial bank satisfying the requirements of <u>clause (b)</u> of this definition; and (g) shares of money market mutual or similar funds which invest in assets substantially all of which satisfy the requirements of <u>clauses (a)</u> through <u>(f)</u> of this definition.

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

"<u>Change of Control</u>" means that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Sponsor shall cease to, directly or indirectly, maintain voting or managerial control of the Pledgor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Sponsor and any Approved Owners, collectively, shall cease to, directly or indirectly, beneficially own 100% of the outstanding Capital Stock of the Pledgor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Pledgor shall cease to own, directly or indirectly, 100% of the outstanding Capital Stock of the Borrower; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall cease to own, directly or indirectly, 100% of the outstanding Capital Stock of the Project Pledgor, Project Borrower or any Project Guarantor.

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"<u>Closing Date</u>" means the date on which the Equity Bridge Loans and the Interest Reserve Loans are made, subject to the satisfaction or waiver by the Administrative Agent and the Initial Lenders of the conditions precedent set forth in <u>Section 4.1</u>.

"<u>Co-Lead Arrangers</u>" means Bank of America, N.A. and The Bank of Nova Scotia, Houston Branch.

"<u>Code</u>" means the Internal Revenue Code of 1986, as amended.

"<u>Collateral Accounts</u>" means, collectively, the ECR Account, the Interest Reserve Account and the Prepayment Account (as and when the Prepayment Account is established).

"<u>Commitment</u>" means (a) an Equity Bridge Commitment or (b) an Interest Reserve Commitment (as the context requires) and "<u>Commitments</u>" means such commitments of all Lenders in the aggregate. The amount of each Lender's Commitment is set forth on <u>Schedule 1.1A</u>. The aggregate amount of the Commitments as of the Closing Date is $3,000,000,000.

"<u>Common Terms Agreement</u>" means the Common Terms Agreement, dated as of the date hereof, entered into by the Project Borrower, the Project Guarantor, the credit facility agent thereunder, each other facility agent on behalf of its respective facility lenders and the Intercreditor Agent, in connection with the Project Financing.

"<u>Commonly Controlled Entity</u>" means an entity, whether or not incorporated, that is under common control with the Borrower within the meaning of Section 4001(a)(14) of ERISA or is part of a group that includes the Borrower and that is treated as a single employer under Section 414(b), (c), (m) or (o) of the Code.

"<u>Compliance Certificate</u>" means a certificate duly executed by a Responsible Officer of the Borrower, substantially in the form of <u>Exhibit A</u>.

"<u>Conforming Changes</u>" means, with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of "Base Rate," the definition of "Business Day," the definition of "U.S. Government Securities Business Day," the definition of "Interest Period" or any similar or analogous definition (or the addition of a concept of "interest period"), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of <u>Section 2.14(b)</u> and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such

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market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of any such rate exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

"<u>Connection Income Taxes</u>" means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

"<u>Construction Account</u>" has the meaning assigned to such term in the Common Terms Agreement.

"<u>Construction Budget and Schedule</u>" has the meaning assigned to such term in <u>Section 4.1(p)</u>.

"<u>Contingent Equity Contribution Agreement</u>" means the Contingent Equity Contribution Agreement, dated as of the date hereof, by and among the Sponsor, the Borrower and the Administrative Agent.

"<u>Contractual Obligation</u>" means as to any Person, any provision of any security issued by such Person or any obligation under any agreement, instrument or other written undertaking to which such Person is a party or by which it or any of its Property is bound.

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

"<u>Conversion/Continuation Notice</u>" means a Conversion/Continuation Notice substantially in the form of <u>Exhibit G-2</u>.

"<u>Coordinating Lead Arrangers</u>" means Bank of America, N.A., The Bank of Nova Scotia, Houston Branch, Standard Chartered Bank, New York, Banco Bilbao Vizcaya Argentaria, S.A. New York Branch, Banco Santander, S.A., New York Branch, Barclays Bank PLC, Deutsche Bank AG, New York Branch, Goldman Sachs Bank USA, ING Capital LLC, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MUFG Bank, Ltd., National Bank of Canada, Royal Bank of Canada, Sumitomo Mitsui Banking Corporation, and Wells Fargo Bank, N.A.

"<u>Covered Entity</u>" means any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;a "<u>covered entity</u>" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a "<u>covered bank</u>" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;a "<u>covered FSI</u>" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

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"<u>Covered Party</u>" has the meaning assigned to such term in <u>Section 9.22</u>.

"<u>CP Express</u>" has the meaning given in the preamble hereto.

"<u>CP Express Pipeline</u>" means the approximately 85.4-mile-long mainline natural gas pipeline from Jasper County, Texas to Cameron Parish, Louisiana, an approximately 6.0-mile-long lateral pipeline in Calcasieu Parish, Louisiana, and related facilities connecting the VGCP2 Project Phase 1 facility to the existing interstate and intrastate natural gas pipeline system to receive feed gas for liquefaction and the power plant, in each case, as described in the application filed by CP Express, pursuant to Section 7(c) of the NGA, and its subsequent filings, in FERC Docket No. CP22-22.

"<u>CP2 Pre-FID Bridge Facility</u>" means that certain Credit and Guaranty Agreement, dated as of May 1, 2025, by and between Project Borrower and Project Guarantors, the lenders party thereto from time to time, and Sumitomo Mitsui Banking Corporation, as administrative agent.

"<u>CP2 Procurement</u>" has the meaning given in the preamble hereto.

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

"<u>Default</u>" means any of the events or conditions specified in <u>Section 7.1</u>, whether or not any requirement for the giving of notice, the lapse of time, or both, has been satisfied.

"<u>Default Right</u>" has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

"<u>Disposition</u>" means with respect to any Property, any sale, lease, license, sale and leaseback, assignment, conveyance, transfer, exchange or other disposition thereof (or the granting of any option or other right to do any of the foregoing), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith; and the terms "<u>Dispose</u>" and "<u>Disposed of</u>" shall have correlative meanings.

"<u>Disqualified Advisor</u>" means (a) unless otherwise consented to by the Borrower in writing (including email) any Person set forth by the Borrower on <u>Schedule 1.1C</u> as of the Closing Date (the "<u>Disqualified Advisor List</u>"), as updated from time to time by the Borrower by written notice to the Administrative Agent to add any counsel, consultants or other advisors of the Borrower or (b) any clearly identifiable (solely on the basis of its name or as identified by the Borrower to the Administrative Agent) Affiliate of the entities described in clause (a); <u>provided</u> that, no updates or additions to the Disqualified Advisor List shall be effective until the date that is three (3) Business Days after such amended Disqualified Advisor List is disclosed to the

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Lenders in accordance with <u>Section 9.2</u>; <u>provided</u> <u>further</u> that, any designation as a "Disqualified Advisor" shall not apply retroactively.

"<u>Disqualified Capital Stock</u>" means, with respect to any Person, any Capital Stock of such Person which, by its terms (or by the terms of any security or other Capital Stock into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for Capital Stock which is not otherwise Disqualified Capital Stock), pursuant to a sinking fund obligation or otherwise, (b) is redeemable at the option of the holder thereof (other than solely for Capital Stock which is not otherwise Disqualified Capital Stock), in whole or in part, (c) requires the scheduled payment of dividends in cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Capital Stock that would constitute Disqualified Capital Stock, in each case, prior to the date that is ninety-one (91) days after the Maturity Date.

"<u>Disqualified Lender</u>" means (a) any Person set forth by the Borrower on <u>Schedule 1.1B</u>, which may be updated from time to time by the Borrower by three (3) Business Days' prior written notice to the Administrative Agent to add (i) any competitor of the Project Borrower, any Project Guarantor or their Affiliates, (ii) so long as, on any applicable date, no Event of Default has occurred and is continuing, any Person that has been, or has threatened to be, in material litigation with, any VGCP2 Group Entity or their Affiliates in respect of the Project or other LNG liquefactions facilities or (iii) any investment fund (or their portfolio companies) or (b) any clearly identifiable (solely on the basis of its name or as identified by the Borrower to the Administrative Agent) Affiliate of the entities described in <u>clause (a)</u>, excluding any bona fide debt fund affiliate of such Person that is primarily engaged in, or advises funds or other investment vehicles that are engaged in, making, purchasing, holding, or otherwise investing in commercial loans, bonds, and similar extensions of credit or securities in the ordinary course of its business; <u>provided</u> that, any designation as a "Disqualified Lender" shall not apply retroactively to any then current Lenders or any entity that has acquired an assignment or participation interest in any Loans in accordance with and under this Agreement.

"<u>Dollars</u>" and "<u>$</u>" means dollars in lawful currency of the United States of America.

"<u>Early Cargo Projections</u>" has the meaning assigned to such term in <u>Section 4.1(p)</u>.

"<u>Early Cargo Revenues</u>" has the meaning assigned to such term in the Contingent Equity Contribution Agreement.

"<u>ECR Account</u>" has the meaning assigned to such term in <u>Section 4.1(u)</u> or any successor securities or deposit account opened after the Closing Date that is, within thirty (30) days after such opening, subject to an Account Control Agreement (provided that, such successor account shall not have any funds on deposit therein, or credited thereto, unless and until such account is subject to an Account Control Agreement).

"<u>EEA Financial Institution</u>" means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of

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an institution described in <u>clause (a)</u> of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in <u>clauses (a)</u> or <u>(b)</u> of this definition and is subject to consolidated supervision with its parent.

"<u>EEA Member Country</u>" means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

"<u>EEA Resolution Authority</u>" means any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

"<u>Employee Benefit Plan</u>" 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, the Borrower or any of its Commonly Controlled Entities and for which the Borrower could reasonably be expected to have any liability.

"<u>Environment</u>" means soil, land, surface or subsurface strata, surface waters (including navigable waters, ocean waters, streams, ponds, drainage basins, wetlands, estuaries and canals), groundwater, drinking water, sediments, ambient air, plant and animal life, and any other environmental medium or natural resource.

"<u>Environmental Claim</u>" means any investigation, notice, notice of violation, claim, action, cause of action, suit, proceeding, demand, abatement order, or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising out of, based on, resulting from or relating to (a) circumstances forming the basis of any actual or alleged violation of any Environmental Law; (b) the presence, Release of, or exposure to, any Hazardous Materials; or (c) any other matters covered or regulated by, or for which liability is imposed under, Environmental Laws.

"<u>Environmental Laws</u>" means any and all applicable Laws relating to pollution, the protection, restoration or remediation of or prevention of harm to the Environment or natural resources, or the protection of human health and safety from the presence of Hazardous Materials, including Laws relating to: (a) the exposure to, or Releases or threatened Releases of, Hazardous Materials; (b) the generation, manufacture, processing, distribution, use, treatment, containment, disposal, storage, transport or handling of Hazardous Materials; or (c) recordkeeping, notification, disclosure and reporting requirements respecting Hazardous Materials.

"<u>Equator Principles</u>" means the principles named "Equator Principles – A financial industry benchmark for determining, assessing and managing environmental and social risk in projects" adopted by various financing institutions in the form dated July 2020 and available at: https://equator-principles.com/wp-content/uploads/2021/02/The-Equator-Principles-July-2020.pdf.

"<u>Equity Bridge Commitment</u>" means the commitment of a Lender to make or otherwise fund an Equity Bridge Loan and "<u>Equity Bridge Commitments</u>" means such commitments of all

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Lenders in the aggregate. The amount of each Lender's Equity Bridge Commitment is set forth on <u>Schedule 1.1A</u>. The aggregate amount of the Equity Bridge Commitments as of the Closing Date is $2,809,000,000.

"<u>Equity Bridge Facility</u>" has the meaning assigned to such term in the recitals hereto.

"<u>Equity Bridge Loan</u>" means a loan made by a Lender to the Borrower pursuant to <u>Section 2.1(b)</u>.

"<u>Equity Bridge Loan Exposure</u>" means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Equity Bridge Loans of such Lender; <u>provided</u> that, at any time prior to the making of the Equity Bridge Loans, the Equity Bridge Loan Exposure of any Lender shall be equal to such Lender's Equity Bridge Commitment.

"<u>Equity Bridge Loan Note</u>" means a promissory note in the form of <u>Exhibit D-1</u>, as it may be amended, restated, supplemented or otherwise modified from time to time.

"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974, as amended, and the rules and regulations promulgated thereunder.

"<u>ERISA Affiliate</u>" means any Person, or trade or business that is a member of any group of organizations: (a) described in Section 414(b), (c), (m) or (o) of the Code of which the Borrower is a member and (b) solely for purposes of potential liability under Section 302(b) of ERISA and Section 412(b) of the Code and the lien created under Section 303(k) of ERISA and Section 430(k) of the Code, described in Section 414(m) or (o) of the Code of which the Borrower is a member.

"<u>ERISA Event</u>" 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 30-day notice to the PBGC has been waived by regulation); (ii) the failure to meet the minimum funding standard of Section 412 of the Code with respect to any Pension Plan (whether or not waived in accordance with Section 412(c) of the Code) or the failure to make by its due date a required installment under Section 430(j) of the 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 Borrower or any of its Commonly Controlled Entities from any Pension Plan with two or more contributing sponsors or the termination of any such Pension Plan; (v) the institution by the PBGC of proceedings to terminate any Pension Plan, or the occurrence of any event or condition which would 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 the Borrower or any of its Commonly Controlled Entities 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 the Borrower or any of its Commonly Controlled Entities in a complete or partial withdrawal from any Multiemployer Plan if there is any liability therefor, or the receipt by the Borrower or any of its Commonly Controlled Entities of notice from any Multiemployer Plan

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that it is insolvent pursuant to Section 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 the Borrower or any of its Commonly Controlled Entities of fines, penalties, taxes or related charges under Chapter 43 of the 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 the Borrower or any of its Commonly Controlled Entities 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 Code) to qualify under Section 401(a) of the 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 Code; or (xi) the imposition of a lien pursuant to Section 430(k) of the Code or ERISA or a violation of Section 436 of the Code.

"<u>Erroneous Payment</u>" has the meaning assigned to it in <u>Section 8.13(a)</u>.

"<u>Erroneous Payment Notice</u>" has the meaning assigned to it in <u>Section 8.13(b)</u>.

"<u>EU Bail-In Legislation Schedule</u>" means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time.

"<u>Event of Default</u>" means any of the events or conditions specified in <u>Section 7.1</u>; <u>provided</u> that, any requirement for the giving of notice, the lapse of time, or both, has been satisfied.

"<u>Exchange Act</u>" means the Securities Exchange Act of 1934, and the rules and regulations of the SEC promulgated thereunder.

"<u>Excluded Taxes</u>" means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a Recipient: (A) Taxes imposed on or measured by net income (however denominated), branch profits Taxes, and franchise Taxes, in each case (x) imposed on any Recipient as a result of such Recipient being organized under the laws of, or having its principal office or applicable lending office located in, the jurisdiction of the Governmental Authority imposing such Tax (or any political subdivision thereof), or (y) that are Other Connection Taxes; (B) Taxes imposed on any Recipient that are attributable to such Recipient's failure to comply with the requirements of <u>clause (f)</u>, <u>(g)</u>, <u>(h)</u>, <u>(i)</u> or <u>(j)</u> of <u>Section 2.16</u>; (C) with respect to any Lender, any U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to any Law in effect at the time such Lender acquires such interest in a Loan or Commitment (other than pursuant to an assignment requested by the Borrower under <u>Section 2.18</u>) (or changes its applicable lending office) except in each case to the extent that (x) such Lender's assignor was entitled, immediately prior to the assignment to such Lender, to additional amounts in respect of such withholding Tax, or (y) such Lender was entitled, immediately prior to such change in applicable lending office, to additional amounts in respect of such withholding Tax; and (D) any Taxes that are imposed pursuant to FATCA.

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"<u>Facilities</u>" has the meaning assigned to such term in the recitals hereto.

"<u>FATCA</u>" means Sections 1471 through 1474 of the Code as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreement, treaty or convention entered into in connection with the implementation of such Sections of the Code and any fiscal or regulatory legislation, rules or official practices adopted pursuant to such intergovernmental agreement and implementing any of the foregoing.

"<u>FCPA</u>" has the meaning assigned to such term in Section 3.20(a).

"<u>Federal Funds Effective Rate</u>" means, for any day, the rate calculated by the Federal Reserve Bank of New York based on such day's federal funds transactions by depositary institutions, as determined in such manner as shall be set forth on the Federal Reserve Bank of New York's Website from time to time, and published on the next succeeding Business Day by the Federal Reserve Bank of New York as the federal funds effective rate. If the Federal Funds Effective Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.

"<u>Federal Reserve Board</u>" means the Board of Governors of the Federal Reserve System of the United States.

"<u>Fee Letters</u>" means (a) the fee letter, dated as of the date hereof, between the Borrower and the Administrative Agent, (b) each fee letter, dated as of the date hereof, between the Borrower and each Lender and/or Arranger, (c) the account bank fee letter, dated as of the date hereof, between the Borrower and Bank of America, N.A., and (d) the engagement letter, dated as of June 30, 2025, between the Borrower and the Co-Lead Arrangers.

"<u>Fees</u>" means, collectively, each of the fees payable by the Borrower for the account of any Lender, any Arranger, Bank of America, N.A., as account bank, or the Administrative Agent hereunder, under any Fee Letter or under any other Loan Document.

"<u>FERC</u>" means the Federal Energy Regulatory Commission, and any successor entity performing similar functions.

"<u>Fitch</u>" means Fitch Ratings Ltd. or any successor thereto.

"<u>Floor</u>" means a rate of interest equal to 0.0%.

"<u>Funding Notice</u>" means a notice substantially in the form of <u>Exhibit G-1</u>.

"<u>Funds Flow Memorandum</u>" means that certain funds flow memorandum to be delivered in respect of the Loans (and the initial application of the proceeds thereof) on the Closing Date.

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"<u>GAAP</u>" means generally accepted accounting principles in the United States of America as in effect from time to time.

"<u>Gas</u>" means any hydrocarbon or mixture of hydrocarbons consisting predominantly of methane which is in a gaseous state.

"<u>Governmental Authority</u>" means any federal, state, provincial, municipal, national or other government, governmental department, commission, board, bureau, authority, court, central bank, agency, regulatory body, instrumentality, political subdivision thereof, entity, officer or examiner exercising executive, legislative, judicial, taxing, regulatory or administrative powers or 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 nation, entity or government or any political subdivision thereof (including any supranational bodies such as the European Union or the European Central Bank).

"<u>Guarantee Obligation</u>" means as to any Person (the "<u>guaranteeing person</u>"), any obligation, including a reimbursement, counterindemnity or similar obligation, of the guaranteeing person that guarantees or in effect guarantees any Indebtedness, leases, dividends or other obligations (the "<u>primary obligations</u>") of any other third Person (the "<u>primary obligor</u>") in any manner, whether directly or indirectly, including any obligation of the guaranteeing person, whether or not contingent, (a) to purchase any such primary obligation or any Property constituting direct or indirect security therefor, (b) to advance or supply funds (i) for the purchase or payment of any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (c) to purchase or lease Property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (d) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect thereof; <u>provided</u> that, the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business or indemnification obligations incurred in the ordinary course of business. The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made (or, if expressly stated in the relevant document, such lesser amount at which such Guarantee Obligation may be limited), or if not stated or determinable, the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall be such guaranteeing person's maximum reasonably anticipated liability in respect thereof as determined by the Borrower in good faith.

"<u>Hazardous Materials</u>" means any material, substance, chemical, or waste (or combination thereof) that (a) is listed, defined, designated, regulated or classified as hazardous, toxic, radioactive, dangerous, a pollutant, a contaminant, oil, petroleum, a petroleum product, asbestos, urea formaldehyde, radioactive material, polychlorinated biphenyls, toxic mold or

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words of similar meaning or effect under any Law relating to pollution, waste, human health and safety or the environment; or (b) can form the basis of any liability under any Law relating to pollution, waste, human health and safety or the environment.

"<u>Hedge Agreements</u>" means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master derivatives agreement (any such master agreement, together with any related schedules, a "<u>Master Agreement</u>"), including any such obligations or liabilities under any Master Agreement.

"<u>Illegality Notice</u>" has the meaning assigned to such term in <u>Section 2.20</u>.

"<u>Increased Cost Lender</u>" has the meaning assigned to such term in <u>Section 2.18</u>.

"<u>Indebtedness</u>" means of any Person at any date, without duplication, (a) all indebtedness of such Person for borrowed money, (b) all obligations of such Person for the deferred purchase price of Property or services (other than accounts payable and accrued expenses incurred in the ordinary course of such Person's business), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising under any conditional sale or other title retention agreement with respect to Property acquired by such Person, (e) all Capital Lease Obligations of such Person, (f) the maximum amount of all obligations of such Person, contingent or otherwise, as an account party or applicant under acceptance, letter of credit, surety bond or similar facilities, (g) all obligations of such Person, contingent or otherwise, to purchase, redeem, retire or otherwise acquire for value any Disqualified Capital Stock of such Person, (h) all Synthetic Debt and Synthetic Lease Obligations of such Person, (i) all Guarantee Obligations of such Person in respect of obligations of the kind referred to in <u>clauses (a)</u> through <u>(h)</u> above, (j) all obligations of the kind referred to in <u>clauses (a)</u> through <u>(i)</u> above secured by (or for which the holder of such obligation has an existing right, contingent or otherwise, to be secured by) any Lien on Property (including accounts and contract rights) owned by such Person, whether or not such Person has assumed or become liable for the payment of such obligation and (k) all obligations (after giving effect to netting) of such Person in respect of Hedge Agreements. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person's ownership

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interest in or other relationship with such entity, except to the extent the terms of such Indebtedness expressly provide that such Person is not liable therefor.

"<u>Indemnified Liabilities</u>" has the meaning assigned to such term in <u>Section 9.5(a)</u>.

"<u>Indemnified Taxes</u>" means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of the Borrower under any Loan Document and (b) to the extent not otherwise described in <u>clause (a)</u>, Other Taxes.

"<u>Indemnitee</u>" has the meaning assigned to such term in <u>Section 9.5(a)</u>.

"<u>Information</u>" has the meaning assigned to such term in <u>Section 9.14</u>.

"<u>Initial Lenders</u>" means each Person listed as a Lender in <u>Schedule 1.1A</u> as of the Closing Date, in their capacities as Lenders.

"<u>Intercreditor Agent</u>" has the meaning assigned to such term in the Common Terms Agreement.

"<u>Interest Payment Date</u>" means with respect to (a) any Loan that is a Base Rate Loan, the last Business Day of March, June, September and December of each year, commencing on the first such date to occur after the Closing Date and the final maturity date of such Loan and (b) any Loan that is a Term SOFR Loan, the last day of each Interest Period applicable to such Loan and the final maturity date of such Loan; <u>provided</u> that, in the case of each Interest Period of longer than three (3) months "Interest Payment Date" shall also include each date that is three (3) months, or an integral multiple thereof, after the commencement of such Interest Period.

"<u>Interest Period</u>" means in connection with a Term SOFR Loan, an interest period of one, three (3) or six (6) months (in each case, subject to the availability thereof), as selected by the Borrower in the applicable Funding Notice or Conversion/Continuation Notice, (a) initially, commencing on the Closing Date and ending on September 30, 2025; and (b) thereafter, commencing on the day on which the immediately preceding Interest Period expires; <u>provided</u> that, (i) 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; (ii) 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 (iii) of this definition, end on the last Business Day of a calendar month; (iii) no Interest Period with respect to any portion of Loans shall extend beyond the Maturity Date; and (iv) no tenor that has been removed from this definition pursuant to <u>Section 2.19(d)</u> shall be available for specification in such Funding Notice or Conversion/Continuation Notice.

"<u>Interest Rate Hedge Agreements</u>" means any Hedge Agreement in respect of an interest rate swap, collar, put or cap, or other interest rate protection arrangement.

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"<u>Interest Reserve Account</u>" has the meaning assigned to such term in <u>Section 4.1(t)</u> or any successor securities or deposit account opened after the Closing Date that is, within thirty (30) days after such opening, subject to an Account Control Agreement (provided that, such successor account shall not have any funds on deposit therein, or credited thereto, unless and until such account is subject to an Account Control Agreement).

"<u>Interest Reserve Commitment</u>" means the commitment of a Lender to make or otherwise fund an Interest Reserve Loan and "<u>Interest Reserve Commitments</u>" means such commitments of all Lenders in the aggregate. The amount of each Lender's Interest Reserve Commitment is set forth on <u>Schedule 1.1A</u>. The aggregate amount of the Interest Reserve Commitments as of the Closing Date is $191,000,000.

"<u>Interest Reserve Facility</u>" has the meaning assigned to such term in the recitals hereto.

"<u>Interest Reserve Loan</u>" means a loan made by a Lender to the Borrower pursuant to <u>Section 2.1(a)</u>.

"<u>Interest Reserve Loan Exposure</u>" means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Interest Reserve Loans of such Lender; <u>provided</u> that, at any time prior to the making of the Interest Reserve Loans, the Interest Reserve Loan Exposure of any Lender shall be equal to such Lender's Interest Reserve Commitment.

"<u>Interest Reserve Loan Note</u>" means a promissory note in the form of <u>Exhibit D-2</u>, as it may be amended, restated, supplemented or otherwise modified from time to time.

"<u>Interpolated Term SOFR</u>" means, for purposes of any calculation of Term SOFR for a Term SOFR Loan, the rate which results from interpolating on a linear basis between:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) for any Interest Period for a duration longer than one-month (other than three (3) months or (6) six months), the most recent applicable Term SOFR (determined pursuant to clause (a) of the definition thereof) for the longest period (for which Term SOFR is available) which is less than the Interest Period of that Loan and (ii) for any Interest Period for a duration of less than one (1) month, SOFR as of such date of determination; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the most recent applicable Term SOFR (determined pursuant to clause (a) of the definition thereof) for the shortest period (for which Term SOFR is available) which is greater than the Interest Period of that Loan;

<u>provided</u> that, when determining the Interpolated Term SOFR for an Interest Period for a duration of less than one (1) month, the Interpolated Term SOFR shall be the Term SOFR Loans with an Interest Period of one (1) month.

"<u>Investment Grade</u>" means two long-term unsecured credit ratings that are equal to or better than (a) Baa3 by Moody's, (b) BBB**-** by S&P, (c) BBB**-** by Fitch, or (d) any comparable credit ratings by any other nationally recognized statistical rating organizations.

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"<u>Investments</u>" means as to any Person, any direct or indirect investment by such Person, including by means of (a) the purchase or other acquisition of Capital Stock or debt or other securities of another Person, (b) a 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 contribution to, guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person or (c) the purchase or other acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person.

"<u>Joint Lead Arrangers</u>" means ICBC Standard Bank PLC and Regions Bank.

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

"<u>Law</u>" means all international, foreign, federal, state and local statutes, treaties, rules, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, licenses, authorizations and permits of, any Governmental Authority.

"<u>Lenders</u>" has the meaning assigned to such term in the preamble hereto.

<u>"Lender Counterparty</u>" means the Arrangers, the Lenders, the Administrative Agent and each of their respective Affiliates counterparty to an Interest Rate Hedge Agreement, if any (including any Person who is an Arranger, a Lender, or the Administrative Agent (or an Affiliate of an Arranger, a Lender or the Administrative Agent) as of the date of entering into such Interest Rate Hedge Agreement but subsequently ceases to be (or whose Affiliate ceases to be) an Arranger, a Lender or the Administrative Agent, as the case may be).

"<u>Lien</u>" means any mortgage, pledge, hypothecation, assignment, deposit arrangement, right of retention, encumbrance, easement, right-of-way or other encumbrance on title to real property, lien (statutory or other), charge or other security interest (including any conditional or installment sale or other title retention agreement and any financing lease having substantially the same economic effect as any of the foregoing).

"<u>LNG</u>" means Gas in a liquid state at or below its boiling point at a pressure of approximately one atmosphere.

"<u>Loan</u>" means an Equity Bridge Loan and/or an Interest Reserve Loan, as the context requires, and "<u>Loans</u>" means, collectively, the Equity Bridge Loans and the Interest Reserve Loans.

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"<u>Loan Documents</u>" means this Agreement, the Fee Letters, the Security Documents, the Contingent Equity Contribution Agreement, the Equity Bridge Loan Notes and the Interest Reserve Loan Notes.

"<u>Loan Exposure</u>" means, with respect to any Lender, such Lender's Equity Bridge Loan Exposure and Interest Reserve Loan Exposure, collectively.

"<u>Loan Parties</u>" means, collectively, the Borrower and the Pledgor.

"<u>Margin Stock</u>" has the meaning specified in Regulation U.

"<u>Material Adverse Effect</u>" means any act, event, condition or circumstance which materially impairs (a) the business, assets, properties, liabilities or condition of the Loan Parties and other VGCP2 Group Entities taken as a whole, (b) the ability of any Loan Party to perform its obligations under any Loan Document, (c) the ability of any VGCP2 Group Entity to perform its obligations under any of the Project Financing Documents, (d) the ability of the Project Borrower or any Project Guarantor to perform its material obligations under the Material Project Agreements (as defined in the Common Terms Agreement) to which it is a party, taken as a whole, as and when such obligations are to be performed, (e) the ability of VGPL to generate Early Cargo Revenues or make distributions with the proceeds thereof, (f) the validity or enforceability of any Loan Document or the rights or remedies of each Lender under any Loan Document or (g) the security interests of the Secured Parties.

"<u>Material Indebtedness</u>" means Indebtedness for borrowed money of the Sponsor in an aggregate principal amount of $200,000,000 or more.

"<u>Maturity Date</u>" means the earlier of (a) July 28, 2028 and (b) the date on which all Loans shall become due and payable in full hereunder, whether by acceleration or otherwise; <u>provided</u> that, in each case, if such date is not a Business Day, then the applicable Maturity Date shall be the immediately preceding Business Day.

"<u>Moody's</u>" means Moody's Investors Service, Inc.

"<u>Multiemployer Plan</u>" means a plan that is a multiemployer plan as defined in Section 4001(a)(3) of ERISA with respect to which the Borrower or any Commonly Controlled Entity has an obligation to make contributions or has any actual or contingent liability.

"<u>Net Cash Proceeds</u>" means (a) in connection with any Asset Sale Distributions, any Recovery Event or any Termination/Amendment Payment Event, the proceeds thereof in the form of cash and Cash Equivalents actually received by the Borrower (including any such proceeds received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price adjustment receivable or otherwise, but only as and when such cash or Cash Equivalents is received) of such Asset Sale Distributions, Recovery Event or Termination/Amendment Payment Event, net of (i) attorneys' fees, accountants' fees, investment banking fees and brokerage and sales commissions paid to third parties that are not Affiliates of the Borrower, (ii) amounts required to be applied to the repayment of Indebtedness or other

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Contractual Obligation secured by a Lien permitted hereunder on any asset which is the subject of such Asset Sale Distributions, Recovery Event or Termination/Amendment Payment Event (other than any Lien pursuant to a Security Document), and all accrued interest, premiums and fees incurred and payable in connection with the repayment of such Indebtedness or other Contractual Obligation, and (iii) Taxes paid or reasonably estimated to be payable as a result thereof; and (b) in connection with any issuance or sale of debt or equity securities or instruments or the incurrence of Indebtedness, the cash proceeds actually received from such issuance or incurrence, net of any required reserves, reasonable attorneys' fees, investment banking fees, accountants' fees, underwriting discounts and commissions and other customary fees and expenses actually incurred in connection therewith; <u>provided</u> that, for the avoidance of doubt, any Net Cash Proceeds shall be net of any payments due and payable by any VGCP2 Group Entity under the Project Financing and net of any reinvestments permitted thereby.

"<u>NGA</u>" means the Natural Gas Act of 1938, 15 U.S.C. §717 *et seq*., as amended, and the regulations of FERC or the US Department of Energy (as applicable) promulgated thereunder.

"<u>Non-Consenting Lender</u>" has the meaning assigned to such term in <u>Section 2.18</u>.

"<u>Non-Public Information</u>" means material non-public information (within the meaning of United States federal, state or other applicable securities laws) with respect to the Borrower, any of its Affiliates, or their securities.

"<u>Non-Recourse Parties</u>" has the meaning assigned to such term in <u>Section 9.23</u>.

"<u>Obligations</u>" means the collective reference to the unpaid principal of and interest on the Loans, and all other obligations and liabilities of the Borrower (including interest accruing at the then applicable rate provided herein after the maturity of the Loans and interest, fees and expenses accruing after the filing of any petition in bankruptcy (or which, but for the filing of such petition, would be accruing), the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest, fees or expenses is allowed or allowable in such proceeding) to any Agent, any Lender or any Lender Counterparty, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which arise under, out of, or in connection with, this Agreement, the Security Agreement or the other Loan Documents, any Secured Hedge Agreement or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise. "<u>Obligation</u>" shall not include (or be construed to include) Excluded Swap Obligations (as such term is defined in the Security Agreement).

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

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"<u>Other Taxes</u>" means any and all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes arising from any payment made hereunder or under any other Loan Document or from the execution, delivery, performance, enforcement or registration of, or otherwise with respect to, any Loan Document (and any interest, additions to Tax or penalties applicable thereto), except any such Taxes that are Other Connection Taxes imposed as a result of an assignment by a Lender (other than an assignment made pursuant to <u>Section 2.18</u>).

"<u>Participant</u>" has the meaning assigned to such term in <u>Section 9.6(b)</u>.

"<u>Participant Register</u>" has the meaning assigned to such term in <u>Section 9.6(b)</u>.

"<u>PATRIOT Act</u>" means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)).

"<u>Payor</u>" has the meaning assigned to it in <u>Section 2.3(b)</u>.

"<u>Pension Plan</u>" means a "pension plan," as such term is defined in section 3(2) of ERISA, which is subject to Title IV of ERISA (other than a Multiemployer Plan), and to which the Borrower may have liability, including any liability by reason of the Borrower's (a) being jointly and severally liable for liabilities of any Commonly Controlled Entity in connection with such Pension Plan, (b) having been a substantial employer within the meaning of section 4063 of ERISA at any time during the preceding five years, or (c) being deemed to be a contributing sponsor under section 4069 of ERISA.

"<u>Periodic Term SOFR Determination Day</u>" has the meaning specified in the definition of "Term SOFR".

"<u>Permit</u>" means any permit, license, approval, consent, order, certificate, judgment, writ, award, determination, direction, decree, registration, notification, authorization, franchise, privilege, grant, waiver, exemption and other similar concession or bylaw, rule or regulation of, by or from any Governmental Authority.

"<u>Permitted Assignee</u>" means (a) an existing Lender, (b) any Affiliate of a Person listed in clause (a), or (c) 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 (excluding in each such case any Disqualified Lender).

"<u>Permitted Business</u>" has the meaning assigned to such term in <u>Section 3.11</u>.

"<u>Person</u>" means an individual, general partnership, limited partnership, limited liability partnership, corporation, limited liability company, unlimited liability company, business trust, joint stock company, trust, unincorporated association, joint venture, Governmental Authority or other entity of whatever nature.

"<u>Platform</u>" has the meaning assigned to such term in <u>Section 5.2</u>.

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"<u>Pledged Equity</u>" means (a) 100% of the Capital Stock owned by the Pledgor in the Borrower and (b) 100% of the Capital Stock owned by the Borrower in the Project Pledgor.

"<u>Pledgor</u>" has the meaning assigned to such term in the recitals hereto.

"<u>Prepayment Account</u>" has the meaning assigned to such term in <u>Section 2.10(i)</u> or any successor securities or deposit account opened after the Closing Date with Bank of America, N.A. or such other financial institution as is reasonably acceptable to the Administrative Agent that is, within thirty (30) days after such opening, subject to an Account Control Agreement (provided that, such successor account shall not have any funds on deposit therein, or credited thereto, unless and until such account is subject to an Account Control Agreement).

"<u>Prime Rate</u>" means the rate of interest quoted in the print edition of The Wall Street Journal, Money Rates Section as the Prime Rate, 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. The Administrative Agent or any other Lender may make commercial loans or other loans at rates of interest at, above or below the Prime Rate.

"<u>Principal Office</u>" means the Administrative Agent's "Principal Office" as set forth in <u>Section 9.2</u>, or such other office or office of a third party or sub-agent, as appropriate, as the Administrative Agent may from time to time designate in writing to the Borrower and each Lender.

"<u>Private Side Information</u>" has the meaning assigned to such term in <u>Section 5.2</u>.

"<u>Pro Rata Share</u>" means, with respect to any Lender, the percentage obtained by dividing (i) the Loan Exposure of such Lender by (ii) the aggregate Loan Exposure of all Lenders.

"<u>Project</u>" means, collectively, the VGCP2 LNG Project and the CP Express Pipeline.

"<u>Project Borrower</u>" has the meaning assigned to such term in the recitals hereto.

"<u>Project Collateral Agent</u>" has the meaning assigned to the term "Collateral Agent" in the Common Terms Agreement.

"<u>Project Costs</u>" has the meaning assigned to such term in the Common Terms Agreement.

"<u>Project Financing</u>" means one or more senior secured credit facilities entered into by the Project Borrower and/or any Project Guarantors in connection with the financing of all or a portion of the engineering, procurement, construction, testing, commissioning, completing, insuring, operating and maintaining the VGCP2 Project Phase 1.

"<u>Project Financing Closing</u>" means the closing date on which a Project Financing occurs.

"<u>Project Financing Documents</u>" has the meaning assigned to the term "Finance Documents" in the Common Terms Agreement.

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"<u>Project Guarantors</u>" means CP2 Procurement and CP Express.

"<u>Project Obligors</u>" means the Project Guarantors and the Project Borrower.

"<u>Project Pledgor</u>" has the meaning assigned to such term in the recitals hereto.

"<u>Property</u>" means any right or interest in or to property of any kind whatsoever, whether real or immovable, personal or moveable or mixed and whether tangible or intangible, corporeal or incorporeal, including Capital Stock.

"<u>PTE</u>" means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

"<u>Public Lenders</u>" means Lenders that do not wish to receive Non-Public Information with respect to the Borrower or any of its Affiliates or their securities.

"<u>QFC</u>" has the meaning assigned to the term "qualified financial contract" in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).

"<u>QFC Credit Support</u>" has the meaning assigned to such term in <u>Section 9.22</u>.

"<u>Recipient</u>" means (a) the Administrative Agent, (b) any Lender or (c) any Arranger, as applicable.

"<u>Recovery Event</u>" means the actual receipt of any settlement of or payment in respect of any property or casualty insurance claim or any condemnation proceeding relating to any asset of the Project Borrower.

"<u>Register</u>" has the meaning assigned to such term in <u>Section 2.5(b)</u>.

"<u>Regulation D</u>" means Regulation D of the Federal Reserve Board as in effect from time to time.

"<u>Regulation T</u>" means Regulation T of the Federal Reserve Board as in effect from time to time.

"<u>Regulation U</u>" means Regulation U of the Federal Reserve Board as in effect from time to time.

"<u>Regulation X</u>" means Regulation X of the Federal Reserve Board as in effect from time to time.

"<u>Related Fund</u>" means with respect to any Lender, any fund that (x) invests in commercial loans and (y) is managed or advised by the same investment advisor as such Lender, by such Lender or an Affiliate of such Lender.

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"<u>Related Parties</u>" means with respect to any Person, such Person's Affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person's Affiliates.

"<u>Release</u>" means any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, disposing, depositing, dispersing, or emanating or migrating of any Hazardous Materials into, onto or through the Environment.

"<u>Relevant Governmental Body</u>" means the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or any successor thereto.

"<u>Replacement Lender</u>" has the meaning assigned to such term in <u>Section 2.18</u>.

"<u>Required Lenders</u>" means one or more Lenders having an aggregate Loan Exposure of more than 50%.

"<u>Required Payment</u>" has the meaning assigned to it in <u>Section 2.3(b)</u>.

"<u>Requirements of Law</u>" means as to any Person, the certificate of incorporation and bylaws or other organizational or governing documents of such Person, and any Law applicable to or binding upon such Person or any of its Property or to which such Person or any of its Property is subject.

"<u>Resolution Authority</u>" means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

"<u>Responsible Officer</u>" means with respect to the Borrower, the chief operating officer, chief financial officer, senior vice president, treasurer, secretary or manager of the Borrower, or any other authorized officer or signatory of the Borrower reasonably acceptable to the Administrative Agent.

"<u>Restricted Payments</u>" has the meaning assigned to such term in <u>Section 6.5</u>.

"<u>S&P</u>" means Standard & Poor's Ratings Services, a division of Standard & Poor's Financial Services LLC.

"<u>Sanctioned Country</u>" means, at any time, a country, region, or territory that is itself the subject of comprehensive Sanctions (at the time of this Agreement, Cuba, Iran, North Korea, Syria and the Crimea, the so-called Donetsk People's Republic, the so-called Luhansk People's Republic and the non-government controlled areas of Ukraine in the oblasts of Zaporizhzhia and Kherson).

"<u>Sanctioned Person</u>" means (a) any Person identified on any Sanctions-related list of designated Persons, including the List of Specially Designated Nationals and Blocked Persons or any other Sanctions-related list of designated Persons maintained by the U.S. Department of the

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Treasury, the U.S. Department of State, the United Nations Security Council, the European Union, any EU Member State or His Majesty's Treasury of the United Kingdom, (b) any Person that is located, organized, or resident in a Sanctioned Country, (c) any Person otherwise the subject or target of any Sanctions or (d) any Person owned or controlled by any such Person or Persons described in the foregoing <u>clauses (a)</u>-<u>(c)</u>.

"<u>Sanctions</u>" means economic or financial sanctions or trade embargoes administered or enforced from time to time by the United States (including through the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State), the United Nations Security Council, the European Union, any EU Member State or the United Kingdom.

"<u>SEC</u>" means the Securities and Exchange Commission (or successors thereto or an analogous Governmental Authority).

<u>"Secured Hedge Agreements</u>" means each Interest Rate Hedge Agreement that is entered into by and between the Borrower and any Lender Counterparty.

"<u>Secured Parties</u>" means a collective reference to the Administrative Agent, the Lenders and the Lender Counterparties.

"<u>Securities Act</u>" means the Securities Act of 1933.

"<u>Security Agreement</u>" means the Pledge and Security Agreement, dated as of the Closing Date, made by each of Borrower and Pledgor in favor of the Administrative Agent for the benefit of the Secured Parties.

"<u>Security Documents</u>" means the collective reference to (a) the Security Agreement, (b) each Account Control Agreement and (c) all other security documents now or hereafter delivered to the Administrative Agent granting (or purporting to grant) a Lien on any Property of any Person to secure the Obligations.

"<u>SOFR</u>" means a rate equal to the secured overnight financing rate as administered by the SOFR Administrator.

"<u>SOFR Administrator</u>" means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).

"<u>Solvent</u>" means with respect to any Person on any date of determination, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person's ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person's property would constitute an unreasonably small capital, and (e) such Person is able to pay its debts and

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liabilities, contingent obligations and other commitments as they mature in the ordinary course of business. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

"<u>Sponsor</u>" means Venture Global LNG, Inc., a Delaware corporation.

"<u>Sponsor MAE</u>" means any act, event, condition or circumstance which materially impairs (a) the business, assets, properties, liabilities or condition of the Sponsor and its Subsidiaries (taken as a whole), (b) the ability of the Sponsor to perform its obligations under the Contingent Equity Contribution Agreement, (c) the validity or enforceability of the Contingent Equity Contribution Agreement, or (d) the rights of or remedies or benefits, taken as a whole, available to the Borrower and/or the Administrative Agent under the Contingent Equity Contribution Agreement.

"<u>Subsidiary</u>" means, as to any Person: (a) any corporation of which more than 50% of the outstanding Capital Stock having ordinary voting power to elect the board of directors of such corporation (irrespective of whether at the time Capital Stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency) is at the time directly or indirectly owned (i) by such Person, (ii) by such Person and one or more subsidiaries of such Person, or (iii) by one or more subsidiaries of such Person; or (b) any trust, partnership, joint venture or other Person as to which such Person, or one or more subsidiaries of such Person, owns more than 50% of the voting ownership, equity or similar interest of such trust, partnership, joint venture or other Person, as the case may be.

"<u>Supported QFC</u>" has the meaning assigned to such term in <u>Section 9.22</u>.

"<u>Synthetic Debt</u>" means with respect to any Person as of any date of determination thereof, all obligations of such Person in respect of transactions entered into by such Person that are intended to function primarily as a borrowing of funds but are not otherwise included in the definition of "<u>Indebtedness</u>" or as a liability on the consolidated balance sheet of such Person and its Subsidiaries in accordance with GAAP.

"<u>Synthetic Lease Obligations</u>" means the monetary obligations of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property (including sale and leaseback transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

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

"<u>Term SOFR</u>" means,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;(i) for any calculation with respect to a Term SOFR Loan with an Interest Period of one (1) month, three (3) months or six (6) months, the Term SOFR Reference Rate for a tenor comparable to such Interest Period on the day (such day, the "<u>Periodic Term SOFR Determination Day</u>") that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; <u>provided</u> that, if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day or (ii) for an Interest Period of any duration other than those specified in clause (a) of this definition of "Term SOFR", for a Term SOFR Loan, Interpolated Term SOFR, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;for any calculation with respect to a Base Rate Loan on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such day, the "<u>Base Rate Term SOFR Determination Day</u>") that is two (2) U.S. Government Securities Business Days prior to such day, as such rate is published by the Term SOFR Administrator; <u>provided</u> that, if as of 5:00 p.m. (New York City time) on any Base Rate Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Base Rate Term SOFR Determination Day;

<u>provided</u> <u>further</u> that, if Term SOFR determined as provided above (including pursuant to the proviso under clause (a) or clause (b) above) shall ever be less than 0.00%, then Term SOFR shall be deemed to be 0.00% for the purposes of this Agreement.

"<u>Term SOFR Administrator</u>" means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion).

"<u>Term SOFR Loan</u>" means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to clause (c) of the definition of "Base Rate".

"<u>Term SOFR Reference Rate</u>" means the forward-looking term rate based on SOFR.

"<u>Terminated Lender</u>" has the meaning assigned to such term in <u>Section 2.18</u>.

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"<u>Termination Conditions</u>" means collectively, (a) the payment in full in cash of the Obligations (other than (i) Unasserted Contingent Obligations and (ii) Obligations owing to Lender Counterparties under any Secured Hedge Agreements that are not then due and payable) (it being acknowledged that the Borrower shall be permitted to apply cash on deposit in the Collateral Accounts in the order that it directs, in its sole discretion, for such purpose) and (b) the termination of the Commitments.

"<u>Termination Date</u>" has the meaning assigned to such term in <u>Section 9.18(b)</u>.

"<u>Termination/Amendment Payment Event</u>" means any event or other circumstance giving rise to the receipt by any Loan Party of cash or Cash Equivalents for payment in respect of a full or partial termination, amendment, modification or revocation of any Material Project Agreement (as defined in the Common Terms Agreement), other Contractual Obligation, material Permit or other Permit.

"<u>Transferee</u>" has the meaning assigned to such term in <u>Section 9.14</u>.

"<u>Type of Loan</u>" means a Base Rate Loan or a Term SOFR Loan.

"<u>UK Financial Institution</u>" means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

"<u>UK Resolution Authority</u>" means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

"<u>Unadjusted Benchmark Replacement</u>" means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

"<u>Unasserted Contingent Obligations</u>" means at any time, Obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities (excluding Obligations in respect of the principal of, and interest and premium (if any) on, any Obligation) in respect of which no assertion of liability and no claim or demand for payment has been made (and, in the case of Obligations for indemnification, no notice for indemnification has been issued by the indemnitee at such time).

"<u>U.S. Government Securities Business Day</u>" means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

"<u>U.S. Special Resolution Regimes</u>" has the meaning assigned to such term in <u>Section 9.22</u>.

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"<u>VGCP2 LNG Project</u>" means the 20.0 million tonnes per annum nameplate natural gas liquefaction and export facility to be located alongside the Calcasieu Ship Channel in Cameron Parish, Louisiana, as described in the application filed by the Project Borrower, pursuant to Section 3 of the NGA, and its subsequent filings, in FERC Docket NO. CP22-21.

"<u>VGCP2 LNG Project Phase 1</u>" means the natural gas liquefaction facilities, and export terminal and related facilities with a nameplate liquefaction capacity of 14.4 million tonnes per annum to be located on the Calcasieu Ship Channel in Cameron Parish, Louisiana.

"<u>VGCP2 LNG Project Phase 2</u>" means the natural gas liquefaction facilities, and export terminal and related facilities with a nameplate liquefaction capacity of 5.6 million tonnes per annum to be located on the Calcasieu Ship Channel in Cameron Parish, Louisiana.

"<u>VGCP2 Project Phase 1</u>" means, collectively, the VGCP2 LNG Project Phase 1 and the CP Express Pipeline.

"<u>VGPL</u>" means Venture Global Plaquemines LNG, LLC.

"<u>VGPL Certificate</u>" has the meaning assigned to such term in Section 5.2(e).

"<u>VGPL Common Terms Agreement</u>" means that certain Amended and Restated Common Terms Agreement, dated as of March 13, 2023, by and between Venture Global Plaquemines LNG, LLC, as borrower, Venture Global Gator Express, LLC, as guarantor, Natixis, New York Branch, as credit facility agent, each other facility agent party thereto from time to time and Royal Bank of Canada, as intercreditor agent for the facility lenders.

"<u>VGPL Finance Documents</u>" means the Finance Documents (as such term is defined in the VGPL Common Terms Agreement).

"<u>VGPL LNG Project</u>" means the 20.0 million tonnes per annum nameplate natural gas liquefaction and export facility located on the Mississippi River in Plaquemines Parish, Louisiana.

"<u>VGPL Phase 2 COD</u>" means the date notified by VGPL to each of the VGPL Phase 2 Initial LNG Buyers pursuant to Section 4.3 (Window Periods) of the applicable VGPL Phase 2 Initial LNG SPA on which VGPL Phase 2 LNG Facility has become commercially operable.

"<u>VGPL Phase 2 Initial LNG Buyers</u>" has the meaning assigned to the term "Phase 2 Initial LNG Buyers" in the VGPL Finance Documents.

"<u>VGPL Phase 2 Initial LNG SPAs</u>" has the meaning assigned to the term "Phase 2 Initial LNG SPAs" in the VGPL Finance Documents.

"<u>VGPL Phase 2 LNG Facility</u>" has the meaning assigned to the term "Phase 2 LNG Facility" in the VGPL Finance Documents.

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"<u>Withholding Agent</u>" means the Borrower or the Administrative Agent, as applicable.

"<u>Write-Down and Conversion Powers</u>" means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

Section 1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Definitional Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in the other Loan Documents or any certificate or other document made or delivered pursuant hereto or thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;As used herein and in the other Loan Documents, and any certificate or other document made or delivered pursuant hereto or thereto, accounting terms relating to the Borrower not defined in <u>Section 1.1</u> and accounting terms partly defined in <u>Section 1.1</u>, to the extent not defined, shall have the respective meanings given to them under GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The words "hereof," "herein" and "hereunder" and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule and Exhibit references are to this Agreement unless otherwise specified. The words "include," "includes" and "including" shall be deemed to be followed by the phrase "without limitation." The word "will" shall be construed to have the same meaning and effect as the word "shall."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;As used herein and in the other Loan Documents, references to agreements or other Contractual Obligations shall, unless otherwise specified, be deemed to refer to such agreements or Contractual Obligations as amended, restated, replaced, refinanced, supplemented or otherwise modified from time to time (subject to any restrictions on such amendments, restatements, replacements, refinancings, supplements or other modifications set forth herein or in any other Loan Document). Any reference to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such Law and any reference to any Law shall, unless otherwise specified, refer to such Law as amended, supplemented or otherwise modified from time to time. Any references to the Equator Principles shall be deemed to refer to such documents in effect as of the Closing Date, without regard to any amendments, supplements or replacements thereof after such date.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The words "asset" and "property" shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Any reference herein to the "knowledge" of the Borrower means the actual knowledge or awareness of any Responsible Officer of the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Any reference herein to any Person shall be construed to include such Person's successors, heirs and permitted assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction's laws): (i) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (ii) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its equity interests at such time.

Section 1.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Timing of Payment or Performance</u>. When the payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of "Maturity Date") or performance shall extend to the immediately succeeding Business Day.

Section 1.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Rates</u>. The Administrative Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (a) the continuation of, administration of, submission of, calculation of or any other matter related to the Base Rate, the Term SOFR Reference Rate or Term SOFR, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, the Base Rate, the Term SOFR Reference Rate, Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or composition of any Conforming Changes. The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of the Base Rate, the Term SOFR Reference Rate, Term SOFR, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain the Base Rate, the Term SOFR Reference Rate, Term SOFR or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.

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SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;LOANS

Section 2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Loans</u>. Subject to the terms and conditions hereof (including the satisfaction or waiver by the Administrative Agent and the Initial Lenders of the conditions precedent set forth in <u>Section 4.1</u>, with respect to Loans made on the Closing Date):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;each Initial Lender severally agrees to make, on the Closing Date, Interest Reserve Loans to the Borrower in an aggregate amount equal to but not exceeding its Interest Reserve Commitment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;each Initial Lender severally agrees to make, on the Closing Date, Equity Bridge Loans to the Borrower in an aggregate amount equal to but not exceeding its Equity Bridge Commitment for use in accordance with Section 2.4.

Any amount borrowed under this <u>Section 2.1</u> and subsequently repaid or prepaid may not be reborrowed. Subject to <u>Sections 2.9</u> and <u>2.10</u>, all amounts owed hereunder with respect to the Loans shall be paid in full no later than the Maturity Date with respect thereto.

<u>Section 2.2&nbsp;&nbsp;&nbsp;&nbsp;Borrowing Mechanics for Loans.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;With respect to each Loan requested by the Borrower, the Borrower shall deliver to the Administrative Agent a fully executed Funding Notice no later than two (2) Business Days prior to the Closing Date with respect to Base Rate Loans or Term SOFR Loans. Promptly upon receipt by the Administrative Agent of such Funding Notice, the Administrative Agent shall notify each Initial Lender of the proposed borrowing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions hereof (including the satisfaction or waiver by the Administrative Agent and the Initial Lenders of the conditions precedent set forth in <u>Section 4.1</u>), the Loans shall be made in a single drawing on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions hereof (including the satisfaction or waiver by the Administrative Agent and the Initial Lenders of the conditions precedent set forth in <u>Section 4.1</u>), the Initial Lenders shall make the Loans requested to be made on the Closing Date available to the Administrative Agent not later than 10:00 a.m. (New York City time) on the Closing Date, by wire transfer of same day funds in Dollars, at the principal office designated by the Administrative Agent. Upon satisfaction or waiver of the applicable conditions precedent specified herein, the Administrative Agent shall make the proceeds of the Loans available to the Borrower on the Closing Date by causing an amount of same day funds in Dollars equal to the proceeds of all such Loans received by the Administrative Agent from the Initial Lenders to be applied (i) with respect to Equity Bridge Loans, (A) *first*, to be contributed by the Borrower to the Project Pledgor, (B) *second*, to be contributed by the Project Pledgor to the Project Borrower, (C) *third*, to be deposited by the Project Borrower in the Construction Account of the Project Borrower as an equity contribution (in each case, in accordance with the Funds Flow Memorandum) and (D) thereafter, (x) on the Closing Date, used to repay in full the indebtedness under the CP2 Pre-FID Bridge Facility and (y) thereafter, applied by the Project Borrower (on behalf of itself and the Project Guarantors) to pay Project Costs then due and

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payable in accordance with the Project Financing Documents, and (ii) with respect to Interest Reserve Loans, to be deposited into the Interest Reserve Account, solely to be applied to pay interest, fees and other expenses in connection with the Facilities.

Section 2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Pro Rata Shares; Availability of Funds</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Pro Rata Shares</u>. All Loans shall be made by Lenders simultaneously and proportionately to their respective Pro Rata Shares, it being understood that (i) no Lender shall be responsible for any default by any other Lender in such other Lender's obligation to make a Loan requested hereunder and (ii) as of the Closing Date, each Initial Lender's Pro Rata Share is set forth on <u>Schedule 1.1A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Availability of Funds</u>. Unless the Administrative Agent shall have received notice from a Lender or the Borrower (either one as appropriate being the "<u>Payor</u>") prior to the date on which such Lender is to make payment hereunder to the Administrative Agent of the proceeds of a Loan or the Borrower is to make payment to the Administrative Agent, as the case may be (either such payment being a "<u>Required Payment</u>"), which notice shall be effective upon receipt, that the Payor will not make the Required Payment in full to the Administrative Agent, the Administrative Agent may assume that the Required Payment has been made in full to the Administrative Agent on such date, and the Administrative Agent in its sole discretion may, but shall not be obligated to, in reliance upon such assumption, make the amount thereof available to the intended recipient on such date. If and to the extent the Payor shall not have in fact so made the Required Payment in full to the Administrative Agent, the recipient of such payment shall repay to the Administrative Agent forthwith on demand such amount made available to it together with interest thereon, for each day from the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. In the event that (i) the Administrative Agent declines to make a requested amount available to the Borrower until such time as the applicable Lender has made payment to the Administrative Agent, (ii) such Lender fails to fund to the Administrative Agent all or any portion of the Loans required to be funded by such Lender hereunder prior to the time specified in this Agreement and (iii) such Lender's failure results in the Administrative Agent failing to make a corresponding amount available to the Borrower on the Closing Date, at the Administrative Agent's option, such Lender shall not receive interest hereunder with respect to the requested amount of such Lender's Loans for the period commencing with the time specified in this Agreement for receipt of payment by the Borrower through and including the time of the Borrower's receipt of the requested amount. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent together with interest thereon, for each day from the Closing Date until the date such amount is paid to the Administrative Agent, at the rate payable hereunder for Loans. Nothing in this <u>Section 2.3(b)</u> shall be deemed to relieve a Lender from its obligation to fulfill its Commitments hereunder or to

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prejudice any rights that the Borrower may have against a Lender as a result of any default by such Lender hereunder.

Section 2.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u>. The proceeds of the Loans shall be applied by the Borrower to fund the uses specified in the last sentence of <u>Section 2.2(c)</u>.

Section 2.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Evidence of Debt; Register; Lenders' Books and Records; Notes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Lenders' Evidence of Debt</u>. Each Lender shall maintain on its internal records an account or accounts evidencing the Obligations 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 Borrower, absent manifest error; <u>provided</u> that, the failure to make any such recordation, or any error in such recordation, shall not affect the Borrower's Obligations in respect of any applicable Loans; <u>provided</u> <u>further</u> that, in the event of any inconsistency between the Register and any Lender's records, the recordations in the Register shall govern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Register</u>. The Administrative Agent (or its agent or sub-agent appointed by it) shall maintain at its Principal Office a register for the recordation of the names and addresses of Lenders (and each assignee thereof) and the Commitments and Loans (and related interest amounts) of each Lender from time to time (the "<u>Register</u>"). The Register shall be available for inspection by the Borrower or any Lender (<u>provided</u> that, any such Lender may only inspect (i) any entry relating to such Lender's Commitments and Loans or (ii) the identity of the other Lenders (but not any information with respect to such other Lenders' Commitments and Loans except upon the occurrence and during the continuance of an Event of Default)) at any reasonable time and from time to time upon reasonable prior notice. The Administrative Agent shall record, or shall cause to be recorded, in the Register the Commitments and the Loans (and related interest amounts), as well as any assignments thereof, in accordance with the provisions of <u>Section 9.6</u>, and each repayment or prepayment in respect of the principal amount (and related interest amounts) of the Loans, and any such recordation shall be conclusive and binding on the Borrower and each Lender, absent manifest error; <u>provided</u> that, failure to make any such recordation, or any error in such recordation, shall not affect any Lender's Commitments or the Obligations in respect of any Loan. The Borrower hereby designates the Administrative Agent to serve as the Borrower's non-fiduciary agent solely for purposes of maintaining the Register as provided in this <u>Section 2.5</u>. The parties hereto shall treat each Person listed in the Register as the owner of the applicable Loan, notwithstanding notice to the contrary. This <u>Section 2.5(b)</u> is intended to establish a "book entry system" within the meaning of Treasury Regulation Section 5f.103-1(c)(1)(ii) and shall be interpreted consistently with such intent, and the parties intend that any interest in or with respect to the Loans under this Agreement be treated as being issued and maintained in "registered form" within the meaning of Sections 163(f), 871(h)(2), and 881(c)(2) of the Code and any regulations thereunder (and any amended or successor versions), including under Treasury Regulations Section 5f.103-1(c) and proposed Treasury Regulations Section 1.163-5 (and any amended or successor versions), and the provisions of this Agreement shall be construed in a manner that gives effect to such intent.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Notes</u>. If so requested by any Lender by written notice to the Borrower (with a copy to the Administrative Agent) at least two (2) Business Days prior to the Closing Date, or at any time thereafter, the Borrower 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 <u>Section 9.6</u>) on the Closing Date (or, if such notice is delivered after the Closing Date, promptly after the Borrower's receipt of such notice) an Equity Bridge Loan Note or an Interest Reserve Loan Note (as applicable) to evidence such Lender's Loan.

Section 2.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest on Loans</u>.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if a Base Rate Loan, at the Base Rate <u>plus</u> the Applicable Margin; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if a Term SOFR Loan, at Term SOFR <u>plus</u> the Applicable Margin.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The basis for determining the rate of interest with respect to any Loan, and the Interest Period with respect to any Term SOFR Loan, shall be selected by the Borrower and notified to the Administrative Agent pursuant to the applicable Funding Notice or Conversion/Continuation Notice, as the case may be. The Administrative Agent shall advise each Lender of the details of the interest election no less than one (1) Business Day before the effective date of the election made pursuant to such Funding Notice or Conversion/Continuation Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In connection with Term SOFR Loans there shall be no more than ten (10) Interest Periods outstanding at any time. In the event the Borrower fails to specify between a Base Rate Loan or a Term SOFR Loan in the applicable Funding Notice or Conversion/Continuation Notice, such Loan (if outstanding as a Term SOFR 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 Borrower fails to specify an Interest Period for any Term SOFR Loan in the applicable Funding Notice or Conversion/Continuation Notice, the Borrower shall be deemed to have selected an Interest Period of one (1) month. No less than one (1) Business Day before the effective date of the Interest Period, the 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 Term SOFR Loans for which an interest rate is then being determined for the applicable Interest Period and promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower and each Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Interest payable pursuant to <u>clause (a)</u> shall be computed (i) in the case of Base Rate Loans on the basis of a three hundred sixty-five (365) day or three hundred sixty-six (366) day year, as the case may be, and (ii) in the case of Term SOFR Loans, on the

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basis of a three hundred sixty (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 the last Interest Payment Date with respect to such Loan or, with respect to a Base Rate Loan being converted from a Term SOFR Loan, the date of conversion of such Term SOFR 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 Term SOFR Loan, the date of conversion of such Base Rate Loan to such Term SOFR Loan, as the case may be, shall be excluded; <u>provided</u> that, if a Loan is repaid on the same day on which it is made, one (1) day's interest shall be paid on that Loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise set forth herein, interest on each Loan (i) shall accrue on a daily basis and shall be payable in arrears on each Interest Payment Date with respect to interest accrued on and to each such payment date; (ii) shall accrue on a daily basis and shall be payable in arrears upon any prepayment of that Loan, whether voluntary or mandatory, to the extent accrued on the amount being prepaid; and (iii) shall accrue on a daily basis and shall be payable in arrears at maturity of the Loans, including final maturity of the Loans; <u>provided</u> that, with respect to any voluntary prepayment of a Base Rate Loan, accrued interest shall instead be payable on the applicable Interest Payment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;In connection with the use or administration of Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Administrative Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

Section 2.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Conversion/Continuation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 2.14</u> and so long as no Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to convert at any time all or any part of any Loan equal to $1,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; <u>provided</u> that, a Term SOFR Loan may only be converted on the expiration of the Interest Period applicable to such Term SOFR Loan unless the Borrower shall pay all amounts due under <u>Section 2.14</u> in connection with any such conversion; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;upon the expiration of any Interest Period applicable to any Term SOFR Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $1,000,000 in excess of that amount as a Term SOFR Loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>clause (c)</u> below, the Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 2:00 p.m. (New York

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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 (3) U.S. Government Securities Business Days in advance of the proposed Conversion/Continuation Date (in the case of a conversion to, or a continuation of, a Term SOFR Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Term SOFR Loans shall be irrevocable, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to the 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Any Conversion/Continuation Notice shall be executed by a Responsible Officer of the Borrower in a writing delivered to the Administrative Agent. In lieu of delivering a Conversion/Continuation Notice, the Borrower may give the Administrative Agent telephonic notice by the required time of such proposed conversion or continuation, as the case may be; <u>provided</u> that, each such notice shall be promptly confirmed in writing by delivery of the applicable Conversion/Continuation Notice to the Administrative Agent on or before the close of business on the date that the telephonic notice is given. In the event of a discrepancy between the telephone notice and the written Conversion/Continuation Notice, the written Conversion/Continuation Notice shall govern. In the case of any Conversion/Continuation Notice that is irrevocable once given, if the Borrower provides telephonic notice in lieu thereof, such telephone notice shall also be irrevocable once given. Neither the Administrative Agent nor any Lender shall incur any liability to the Borrower in acting upon any telephonic notice referred to above that the Administrative Agent believes in good faith to have been given by a duly authorized officer or other person authorized on behalf of the Borrower or for otherwise acting in good faith.

Section 2.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Default Interest</u>. Upon the occurrence and during the continuance of an Event of Default, the overdue principal amount of all Loans outstanding and, to the extent permitted by applicable law, any overdue interest payments on the Loans or any overdue fees or other amounts owed hereunder shall bear interest (including post-petition interest in any proceeding under Debtor Relief Laws (or interest that would have accrued after the commencement of a proceeding but for the commencement of such proceeding)) payable on demand at a rate that is 2% per annum in excess of the interest rate otherwise payable hereunder with respect to the applicable Loans. Payment or acceptance of the increased rates of interest provided for in this <u>Section 2.8</u> 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 the Administrative Agent or any Lender.

Section 2.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Voluntary Prepayments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any time and from time to time, the Borrower may prepay any Loans on any Business Day in whole or in part, in an aggregate minimum amount of $1,000,000 and integral multiples of $1,000,000 in excess of that amount, or, if such prepayment is in

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connection with the receipt of proceeds from permitted refinancing activities and not subject to prepayment penalties, in such amount equal to the net proceeds received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;All such prepayments shall be made:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;without penalty or premium; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;upon not less than three (3) U.S. Government Securities Business Days' prior written or telephonic notice;

in each case given to the Administrative Agent by 2:00 p.m. (New York City time) on the date required and, if given by telephone, promptly confirmed by delivery of written notice thereof to the Administrative Agent (and the Administrative Agent will promptly transmit such original notice for Loans by telefacsimile or telephone to each applicable 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; <u>provided</u> that, a notice of voluntary prepayment may state that such notice is conditioned upon the effectiveness of other credit facilities or the receipt of proceeds from the issuance of other Indebtedness or equity contributions, in which case such notice of prepayment may be revoked or extended by the Borrower (by notice to the Administrative Agent on or prior to the specified date) if such condition is not satisfied or delayed in effectiveness; <u>provided</u> that, the Borrower shall make any payments required to be made pursuant to <u>Section 2.14(b)</u> in connection therewith. Any such voluntary prepayments shall be applied as specified in <u>Section 2.11</u>.

Section 2.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Mandatory Prepayments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Asset Sale Distributions</u>. No later than the third (3rd) Business Day following the date of receipt by the Borrower of any Net Cash Proceeds from any Asset Sale Distributions, the Borrower shall prepay the Loans in an aggregate amount equal to such Net Cash Proceeds, to be applied as specified in <u>Section 2.11</u>. The provisions of this <u>Section 2.10(a)</u> do not constitute a consent to the consummation of any Disposition not permitted by <u>Section 6.4</u>. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Recovery Events</u>. No later than the third (3rd) Business Day following the date of receipt by the Borrower of any Net Cash Proceeds from any Recovery Event, the Borrower shall prepay the Loans in an aggregate amount equal to such Net Cash Proceeds, to be applied as specified in <u>Section 2.11</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of Debt</u>. Immediately upon receipt by the Borrower of any Net Cash Proceeds from the incurrence of any Indebtedness (other than with respect to any Indebtedness permitted to be incurred pursuant to <u>Section 6.1</u>), the Borrower shall prepay the Loans in an aggregate amount equal to the lesser of (i) such Net Cash Proceeds and (ii) the then outstanding amount of the Loans, to be applied as specified in <u>Section 2.11</u>. The provisions of this <u>Section 2.10(c)</u> do not constitute a consent to the incurrence of any Indebtedness by the Borrower not permitted by <u>Section 6.1</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Early Cargoes</u>. No later than the third (3rd) Business Day following the date of receipt by the Borrower of any Early Cargo Revenues into the ECR Account pursuant to any equity contribution from the Sponsor or one or more parent companies of the Borrower pursuant to the Contingent Equity Contribution Agreement, the Borrower shall apply all such proceeds to the prepayment of the Loans in accordance with <u>Section 2.11(b)</u>, including to prepay the Loans as specified in <u>Sections 2.11(a)</u> and <u>2.11(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination/Amendment Payment Events</u>. No later than the third (3rd) Business Day following the date of receipt by the Borrower of any Net Cash Proceeds from any Termination/Amendment Payment Event, the Borrower shall prepay the Loans in an amount equal to 100% of such Net Cash Proceeds, to be applied as specified in <u>Section 2.11</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Equity Issuances</u>. If any Capital Stock shall be issued or sold by any Loan Party, then on the date of such issuance, the Borrower shall prepay the Loans in an aggregate amount equal to the amount of the Net Cash Proceeds of such issuance, to be applied as specified in <u>Section 2.11</u>. The provisions of this <u>Section 2.10(f)</u> do not constitute a consent to the issuance of any equity securities by any Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>VGPL Commercial Operation Date</u>. No later than the ninetieth (90th) day following the occurrence of VGPL Phase 2 COD, the Borrower shall prepay the Loans in full, to be applied as specified in <u>Section 2.11</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>Prepayment Certificate</u>. Concurrently with any prepayment of the Loans pursuant to <u>Sections 2.10(a)</u> through <u>2.10(f)</u>, the Borrower shall deliver to the Administrative Agent a certificate of a Responsible Officer of the Borrower demonstrating the calculation of the amount of the applicable Net Cash Proceeds or Early Cargo Revenues, as applicable. In the event that the Borrower shall subsequently determine that the actual amount required to be prepaid exceeded the amount set forth in such certificate, the Borrower shall promptly make an additional prepayment of the applicable Loans in an amount equal to such excess, and the Borrower shall concurrently therewith deliver to the Administrative Agent a certificate of a Responsible Officer of the Borrower demonstrating the derivation of such excess.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Prepayment Account</u>. All amounts subject to prepayment in accordance with this <u>Section 2.10</u> shall, pending application in accordance with this <u>Section 2.10</u> and <u>Section 2.11</u>, be deposited in a deposit account or securities account in the name of the Borrower and established by the Borrower with Bank of America, N.A. or such other financial institution as is reasonably acceptable to the Administrative Agent (such account, the "<u>Prepayment Account</u>"); <u>provided</u> that, in connection with <u>Section 2.10(d)</u>, the Early Cargo Revenues subject to prepayment shall be deposited in the ECR Account pending application in accordance with this <u>Section 2.10</u> and <u>Section 2.11</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment at Maturity</u>. There are no scheduled amortization payments prior to maturity and the Borrower shall repay any remaining principal amount of the Loans on the Maturity Date.

Section 2.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Application of Prepayments/Reductions</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;With respect to <u>Section 2.11(b)(i)</u> and <u>(ii)</u> below, any prepayment of Equity Bridge Loans or Interest Reserve Loans, as applicable, shall be applied first to Base Rate Loans to the full extent thereof before application to Term SOFR Loans, in each case, in a manner which minimizes the amount of any payments required to be made by the Borrower pursuant to <u>Section 2.14(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;All proceeds available from any voluntary prepayment of Loans pursuant to <u>Section 2.9</u> and any mandatory prepayment of Loans pursuant to <u>Section 2.10</u> shall be applied as follows to prepay outstanding Loans in the order provided:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*first*, to repay any then-outstanding Equity Bridge Loans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;*second*, to repay any then-outstanding Interest Reserve Loans; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;*third*, as directed by the Borrower.

Section 2.12&nbsp;&nbsp;&nbsp;&nbsp;<u>General Provisions Regarding Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All payments by the Borrower of principal, interest, fees and other Obligations shall be made in Dollars in same day funds, without defense, recoupment, setoff or counterclaim, free of any restriction or condition, and delivered to the Administrative Agent not later than 2:00 p.m. (New York City time) on the date due at the Principal Office of the Administrative Agent for the account of Lenders; for purposes of computing interest and fees, funds received by the Administrative Agent after that time on such due date shall be deemed to have been paid by the Borrower on the next succeeding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;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 payments in respect of any Loan on a date when interest is due and payable with respect to such Loan) shall be applied to the payment of interest then due and payable before application to principal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent (or its agent or sub-agent appointed by it) 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 related thereto, including all fees payable with respect thereto, to the extent received by the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;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 Term SOFR Loans, the Administrative Agent shall give effect thereto in apportioning payments received thereafter.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Whenever any payment to be made hereunder with respect to any Loan 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent shall deem any payment by or on behalf of the Borrower hereunder that is not made in same day funds prior to 2:00 p.m. (New York City time) (unless a later time is otherwise specified herein with respect to such payment) to be a non-conforming payment. Any such payment shall not be deemed to have been received by the Administrative Agent until the later of (i) the time such funds become available funds, and (ii) the applicable next Business Day. The Administrative Agent shall give prompt telephonic notice to the Borrower 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 <u>Section 7.1(a)</u>. 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 rate determined pursuant to <u>Section 2.8</u>, if applicable, from the date such amount was due and payable until the date such amount is paid in full.

Section 2.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Ratable Sharing</u>. The Lenders hereby agree among themselves that if any of them shall, whether by voluntary payment, through the exercise of any right of set off or banker's lien, or by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under Debtor Relief Laws, 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 Loan Documents (collectively, the "<u>Aggregate Amounts Due</u>" 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 the 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; <u>provided</u> that, 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 the Borrower 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. The Borrower 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, consolidation, set off or counterclaim with respect to any and all monies owing by the Borrower to that holder with respect thereto as fully as if that holder were owed the amount of the participation held by that holder. The provisions of this <u>Section 2.13</u> shall not be construed to apply to (i) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement as in effect from time to time or (ii) any payment obtained by any Lender as consideration for the assignment or sale of a participation in any of its Loans or other Obligations owed to it. For

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purposes of clause (C) of the definition of "Excluded Taxes," a Lender that acquires a participation pursuant to this <u>Section 2.13</u> shall be treated as having acquired such participation on the earlier date on which such Lender acquired the applicable interest in the Loan to which such participation relates.

Section 2.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Making or Maintaining Term SOFR Loans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 2.19</u>, if, on or prior to the first day of any Interest Period for any Term SOFR Loan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that "<u>Term SOFR</u>" cannot be determined pursuant to the definition thereof, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Required Lenders determine that for any reason in connection with any request for a Term SOFR Loan or a conversion thereto or a continuation thereof that Term SOFR for any requested Interest Period with respect to a proposed Term SOFR Loan does not adequately and fairly reflect the cost to such Lenders of making and maintaining such Loan, and the Required Lenders have provided notice of such determination to the Administrative Agent,

the Administrative Agent will promptly so notify the Borrower and each Lender.

Upon notice thereof by the Administrative Agent to the Borrower, any obligation of the Lenders to make Term SOFR Loans, and any right of the Borrower to continue Term SOFR Loans or to convert Base Rate Loans to Term SOFR Loans, shall be suspended (to the extent of the affected Term SOFR Loans or affected Interest Periods) until the Administrative Agent (with respect to clause (ii) above, at the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, (x) the Borrower may revoke any pending request for a borrowing of, conversion to or continuation of Term SOFR Loans (to the extent of the affected Term SOFR Loans or affected Interest Periods) or, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans in the amount specified therein and (y) any outstanding affected Term SOFR Loans will be deemed to have been converted into Base Rate Loans at the end of the applicable Interest Period. Upon any such conversion, the Borrower shall also pay accrued interest on the amount so converted, together with any additional amounts required pursuant to <u>Section 2.14(b)</u>. Subject to <u>Section 2.19</u>, if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that "<u>Term SOFR</u>" cannot be determined pursuant to the definition thereof on any given day, the interest rate on Base Rate Loans shall be determined by the Administrative Agent without reference to clause (c) of the definition of "Base Rate" until the Administrative Agent revokes such determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Compensation for Breakage or Non-Commencement of Interest Periods</u>. The Borrower shall compensate each Lender, upon written request by such Lender (which request shall set forth the basis for requesting such amounts in reasonable detail), for all reasonable losses, expenses and liabilities (including any interest paid or payable by such Lender

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to Lenders of funds borrowed by it to make or carry its Term SOFR 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 Term SOFR 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 Term SOFR 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 Term SOFR Loans occurs on a date prior to the last day of an Interest Period applicable to that Loan; (iii) if any prepayment of any of its Term SOFR Loans is not made on any date specified in a notice of prepayment given by the Borrower; or (iv) if any Term SOFR Loan is converted other than on the last day of the Interest Period applicable thereto (including as a result of an Event of Default).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Booking of Term SOFR Loans</u>. Any Lender may make, carry or transfer Term SOFR Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

Section 2.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Increased Costs; Capital Requirements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Increased Costs</u>. If any Change in Law shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;impose, modify or deem applicable any reserve (including pursuant to regulations issued from time to time by the Federal Reserve Board for determining the maximum reserve requirement (including any emergency, special, supplemental or other marginal reserve requirement) with respect to eurocurrency funding (currently referred to as "<u>Eurocurrency liabilities</u>" in Regulation D)), special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;subject any Recipient to any Taxes (other than (x) Indemnified Taxes, (y) Taxes described in <u>clauses (B)</u> through <u>(D)</u> of the definition of "Excluded Taxes" and (z) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;impose on any Lender any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender or participation therein;

and the result of any of the foregoing shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining any Loan or of maintaining its obligation to make any such Loan, or to reduce the amount of any sum received or receivable by such Lender or other Recipient hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or other Recipient, the Borrower will pay to such Lender or other Recipient, as the case may be, such additional amount or amounts as will compensate such

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Lender or other Recipient, as the case may be, for such additional costs incurred or reduction suffered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Capital Requirements</u>. If any Lender determines that any Change in Law affecting such Lender or any lending office of such Lender or such Lender's holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such Lender's capital or on the capital of such Lender's holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by such Lender to a level below that which such Lender or such Lender's holding company could have achieved but for such Change in Law (taking into consideration such Lender's policies and the policies of such Lender's holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender's holding company for any such reduction suffered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Certificates for Reimbursement</u>. A certificate of a Lender setting forth the amount or amounts necessary to compensate such Lender or its holding company, as the case may be, as specified in <u>paragraph (a)</u> or <u>(b)</u> of this <u>Section 2.15</u> and delivered to the Borrower, shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within thirty (30) days after receipt thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Delay in Requests</u>. Failure or delay on the part of any Lender to demand compensation pursuant to this <u>Section 2.15</u> shall not constitute a waiver of such Lender's right to demand such compensation; <u>provided</u> that, the Borrower shall not be required to compensate a Lender pursuant to this Section for any increased costs incurred or reductions suffered more than nine months prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions, and of such Lender's intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof).

Section 2.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All payments made by or on behalf of the Borrower to a Recipient under any Loan Document shall be made free and clear of, and without deduction or withholding for or on account of, any Taxes (except as required by applicable Law). If applicable Law (as determined in the good faith discretion of any applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable Law and, if such Tax is an Indemnified Tax, then the sum payable by the Borrower shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this <u>Section 2.16</u>) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding of Indemnified Taxes been made.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Without duplication of <u>Section 2.16(a)</u> and <u>(d)</u>, the Borrower shall pay to the relevant Governmental Authority in accordance with applicable Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Whenever any Indemnified Taxes are payable or remittable by the Borrower pursuant to this <u>Section 2.16</u>, as soon as reasonably practicable thereafter the Borrower shall send to the applicable Recipient the original or a certified copy of an original official receipt received by the Borrower (if the applicable Governmental Authority makes such receipts readily available to the Borrower) or other reasonably satisfactory evidence showing payment thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Without duplication of <u>Section 2.16(a)</u> and <u>(b)</u>, the Borrower shall indemnify each Recipient for the full amount of Indemnified Taxes (including any Indemnified Taxes imposed on amounts payable under this <u>Section 2.16</u>) payable by such Recipient, and any liability (including penalties, additions to Tax, interest and any reasonable expenses, but excluding any such amounts resulting from the gross negligence, bad faith or willful misconduct of such Recipient) arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally asserted by the relevant Governmental Authority. Such indemnification shall be made within ten (10) Business Days after the date the Recipient makes written demand therefor (which demand shall set forth in reasonable detail the nature and amount of Indemnified Taxes for which indemnification is being sought). A certificate setting forth in reasonable detail the basis for such claim and the calculation of the amount of any such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by an Arranger or the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If any party to this Agreement determines, in its reasonable discretion, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this <u>Section 2.16</u> or <u>Section 8.11</u>, as applicable, it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by such indemnifying party under this <u>Section 2.16</u> or <u>Section 8.11</u>, as applicable, with respect to the Taxes giving rise to such refund), net of all reasonable out-of-pocket expenses (including Taxes) of such indemnified party, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); <u>provided</u> that, the indemnifying party, upon the request of such indemnified party, agrees to repay the amount paid over to the indemnifying party (<u>plus</u> interest attributable to the period during which the Borrower held such funds and any penalties, additions to Tax, interest or other charges imposed by the relevant Governmental Authority) to such indemnified party in the event such indemnified party is required to repay such refund to such Governmental Authority. This <u>Section 2.16(e)</u> shall not be construed to require any indemnified party to make available its tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Without limiting the generality of <u>Section 2.16(g)</u>,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;each Lender, to the extent such Lender is not a "United States person" (as defined in Section 7701(a)(30) of the Code), shall deliver to the Withholding Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Withholding Agent), whichever of the following is applicable, in each case to the extent such Lender is legally entitled to do so:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;two executed copies of IRS Form W-8BEN or W-8BEN-E (or any successor form) claiming eligibility for benefits of an income tax treaty to which the United States is a party and which provides for an exemption from or reduction in United States federal withholding Tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;two executed copies of IRS Form W-8ECI (or any successor form);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (i) a certificate in substantially the form of <u>Exhibit E-1</u>, to the effect that such Lender is not (1) a "bank" within the meaning of Section 881(c)(3)(A) of the Code, (2) a "10 percent shareholder" of the Borrower (or, if the Borrower is a "disregarded entity" for U.S. federal income tax purposes, of its first regarded owner) within the meaning of Section 881(c)(3)(B) of the Code, (3) a "controlled foreign corporation" described in Section 881(c)(3)(C) of the Code, and (4) was not engaged in a conduct of a trade or business within the United States to which the interest payment is effectively connected, and (ii) two executed copies of IRS Form W-8BEN or W-8BEN-E (or any successor form);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;to the extent a Lender is not the beneficial owner (for example, where the Lender is a partnership or a participating Lender granting a participation), a complete and executed IRS Form W-8IMY, accompanied by a Form W-8ECI, W-8BEN or W-8BEN-E, a certificate in substantially the form of <u>Exhibit E-3</u> or <u>E-4</u>, as applicable, IRS Form W-9, and/or other certification documents from each beneficial owner (or any successor forms), as applicable; <u>provided</u> that, if the Lender is a partnership (and not a participating Lender) and one or more partners of such Lender are claiming the portfolio interest exemption, such Lender shall provide a certificate in substantially the form of <u>Exhibit E-2</u>, as applicable, on behalf of such beneficial owner(s) in lieu of requiring each beneficial owner to provide its own certificate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;any other form prescribed by applicable Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax on payments under this Agreement and the other Loan Documents executed together with such supplementary documentation as may be prescribed by applicable Law to permit the Withholding Agent to determine the withholding or deduction required to be made; <u>provided</u> that, the completion, execution or submission of such documentation required under this <u>Section 2.16(f)(i)(E)</u> shall

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not be required if in the Lender's reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;to the extent a Lender is a "United States person" (as defined in Section 7701(a)(30) of the Code), such Lender shall deliver to the Withholding Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Withholding Agent) two executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding Tax.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Without limiting the foregoing, upon the reasonable request of the Withholding Agent, a Lender that is entitled to an exemption from or reduction of any applicable withholding Tax with respect to any payments under this Agreement or any Loan Document shall deliver to the Withholding Agent such properly completed and executed documentation prescribed by applicable Law or reasonably requested by the Withholding Agent (in such number of copies as shall be reasonably requested by the Withholding Agent) as will permit such payments to be made without withholding or at a reduced rate prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Withholding Agent); <u>provided</u> that, the completion, execution or submission of such documentation required under this <u>Section 2.16(g)</u> shall not be required if in the Lender's reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;If a payment made to any Recipient under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Recipient were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Recipient shall deliver to the Withholding Agent at the time or times prescribed by law and at such time or times reasonably requested by the Withholding Agent such documentation prescribed by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Withholding Agent as may be necessary for the Withholding Agent to comply with its obligations under FATCA, to determine whether such Recipient has complied with its obligations under FATCA or to determine the amount, if any, to deduct and withhold from such payment. Solely for the purpose of this <u>Section 2.16(h)</u>, "FATCA" shall include any amendments made to FATCA after the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender shall deliver the forms and other documentation required to be provided under this <u>Section 2.16</u>: (i) on or before the date it becomes a party to this Agreement, (ii) promptly upon the obsolescence, expiration, inaccuracy, or invalidity of any form previously delivered by such Lender, and (iii) at such other times as may be reasonably requested by the Withholding Agent or as required by Law. Each Lender shall promptly notify the Withholding Agent at any time it determines that it is no longer in a position to provide any

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documentation previously delivered to the Withholding Agent. Notwithstanding any other provision of this <u>Section 2.16</u>, a Lender shall not be required to deliver any documentation pursuant to <u>Section 2.16(f)(i)(E)</u> or <u>Section 2.16(g)</u> if in the Lender's reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;If the Administrative Agent is a "United States person" (as defined in Section 7701(a)(30) of the Code), then it shall, on or prior to the date on which it becomes the Administrative Agent, provide the Borrower with a properly completed and duly executed copy of IRS Form W-9 confirming that the Administrative Agent is exempt from U.S. federal back-up withholding. If the Administrative Agent is not a "United States person" (as defined in Section 7701(a)(30) of the Code), then it shall, on or prior to the date on which it becomes the Administrative Agent, provide to the Borrower, (i) with respect to payments made to the Administrative Agent for its own account, a properly completed and duly executed IRS Form W-8ECI (or any successor form), and (ii) with respect to payments made to the Administrative Agent on behalf of the Lenders, a properly completed and duly executed IRS Form W-8IMY confirming that the Administrative Agent agrees to be treated as a "United States person" for all U.S. federal withholding Tax purposes (including FATCA).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender shall severally indemnify the Administrative Agent, within ten (10) days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that the Loan Parties have not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable to such Lender's failure to comply with the provisions of Section 9.6(b) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this <u>Section 2.16(k)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;The agreements in this <u>Section 2.16</u> shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations.

Section 2.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Obligation to Mitigate</u>. Each Lender agrees that, as promptly as practicable after the principal 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 <u>Section 2.14</u>, <u>2.15</u>, <u>2.16</u> or <u>2.20</u>, it will, to the extent not inconsistent with the

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internal policies of such Lender and any applicable legal or regulatory restrictions, use reasonable efforts to (a) make, issue, fund or maintain its Term SOFR Loans, subject to <u>Section 2.15(b)</u> or <u>2.20</u>, 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 <u>Section 2.14</u>, <u>2.15</u>, <u>2.16</u> or <u>2.20</u> would be reduced and if, as determined by such Lender in its sole discretion, the making, 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; <u>provided</u> that, such Lender will not be obligated to utilize such other office or take such other measures pursuant to this <u>Section 2.17</u> unless the Borrower agrees to pay all incremental expenses incurred by such Lender as a result of utilizing such other office or taking such other measures as described above. A certificate as to the amount of any such expenses payable by the Borrower pursuant to this <u>Section 2.17</u> (setting forth in reasonable detail the basis for requesting such amount) submitted by such Lender to the Borrower (with a copy to the Administrative Agent) shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within forty-five (45) days after receipt thereof.

Section 2.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Removal or Replacement of a Lender</u>. Anything contained herein to the contrary notwithstanding, in the event that: (a)(i) any Lender (an "<u>Increased Cost Lender</u>") shall give notice to the Borrower that such Lender has met prong (c) of the definition of "Affected Lender" or that such Lender is entitled to receive payments under <u>Section 2.15</u>, <u>2.16</u> or <u>2.20</u>, (ii) the circumstances which have caused such Lender to meet prong (c) of the definition of "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 (5) Business Days after the Borrower's request for such withdrawal; or (b) in connection with any proposed amendment, modification, termination, waiver or consent with respect to any of the provisions hereof as contemplated by <u>Section 9.1</u>, the consent of Required Lenders shall have been obtained but the consent of one or more of such other Lenders (each a "<u>Non-Consenting Lender</u>") whose consent is required shall not have been obtained; then, with respect to each such Increased Cost Lender or Non-Consenting Lender (the "<u>Terminated Lender</u>"), the Borrower may, by giving written notice to the Administrative Agent 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 Persons permitted to become Lenders hereunder pursuant to and in accordance with the provisions of <u>Section 9.6</u> (each a "<u>Replacement Lender</u>") and the Borrower shall, in each case, pay the fees, if any, payable thereunder in connection with any such assignment from an Increased Cost Lender or a Non-Consenting Lender; <u>provided</u> that, (A) on the date of such assignment, such Terminated Lender shall have received payment from the Replacement Lender or the Borrower in an amount equal to the principal of, and all accrued interest on, all outstanding Loans of the Terminated Lender; (B) in the case of any such assignment resulting from a claim for compensation under <u>Section 2.15</u> or <u>2.16</u>, such assignment will result in a material reduction in such compensation and on the date of such assignment, the Borrower shall pay any amounts payable to such Terminated Lender pursuant to <u>Section 2.15</u> or <u>2.16</u>; or otherwise as if it were a prepayment; and (C) in the event such Terminated Lender is a

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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. Upon the prepayment of all amounts owing to any Terminated Lender, such Terminated Lender shall no longer constitute a "<u>Lender</u>" for purposes hereof; <u>provided</u> that, any rights of such Terminated Lender to indemnification hereunder shall survive as to such Terminated Lender. Each Lender agrees that if the Borrower exercises its option hereunder to cause an assignment by such Lender as a Terminated Lender, such Lender shall, promptly after receipt of written notice of such election, execute and deliver all documentation necessary to effectuate such assignment in accordance with <u>Section 9.6</u>; <u>provided</u> that, each party hereto agrees that an assignment required pursuant to this <u>Section 2.18</u> may be effected pursuant to an Assignment and Acceptance executed by the Borrower, the Administrative Agent and the assignee and that the Lender required to make such assignment need not be a party thereto, and each Lender hereby authorizes and directs the Administrative Agent to execute and deliver such documentation as may be required to give effect to an assignment in accordance with <u>Section 9.6</u> on behalf of a Terminated Lender and any such documentation so executed by the Administrative Agent shall be effective for purposes of documenting an assignment pursuant to <u>Section 9.6</u>. Any Terminated Lender shall not be required refund, or to pay or surrender, any of the fees already received by such Terminated Lender pursuant to the Loan Documents.

Section 2.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Replacement Setting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Replacement</u>. Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this <u>Section 2.19(a)</u> will occur prior to the applicable Benchmark Transition Start Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Replacement Conforming Changes</u>. In connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices; Standards for Decisions and Determinations</u>. The Administrative Agent will promptly notify the Borrower and the Lenders of (i) the implementation of any Benchmark Replacement and (ii) the effectiveness of any Conforming Changes in connection with the use, administration, adoption or implementation of a Benchmark Replacement. The Administrative Agent will promptly notify the Borrower of (x) the removal or reinstatement of any tenor of a Benchmark pursuant to <u>Section 2.19(d)</u> and (y) the

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commencement of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this <u>Section 2.19</u>, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this <u>Section 2.19</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Unavailability of Tenor of Benchmark</u>. Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Reference Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the administrator of such Benchmark or the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is not or will not be representative or in compliance with or aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks, then the Administrative Agent may modify the definition of "Interest Period" (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable, non-representative, non-compliant or non-aligned tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is not or will not be representative or in compliance with or aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify the definition of "Interest Period" (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Unavailability Period</u>. Upon the Borrower's receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a SOFR borrowing of, conversion to or continuation of Term SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Matters</u>. The Administrative Agent will use commercially reasonable efforts to cooperate with the Borrower to effectuate the terms of this <u>Section 2.19</u> and any resulting modification of the terms with the goal of avoiding a deemed exchange under Section 1001 of the Code.

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Section 2.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Illegality</u>. If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable lending office to make, maintain or fund Loans whose interest is determined by reference to SOFR, the Term SOFR Reference Rate or Term SOFR, or to determine or charge interest based upon SOFR, the Term SOFR Reference Rate or Term SOFR, then, upon notice thereof by such Lender to the Borrower (through the Administrative Agent) (an "<u>Illegality Notice</u>"), (a) any obligation of the Lenders to make Term SOFR Loans, and any right of the Borrower to continue Term SOFR Loans or to convert Base Rate Loans to Term SOFR Loans, shall be suspended, and (b) the interest rate on which Base Rate Loans shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to clause (c) of the definition of "Base Rate", in each case until each affected Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of an Illegality Notice, the Borrower shall, if necessary to avoid such illegality, upon demand from any Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Term SOFR Loans to Base Rate Loans (the interest rate on which Base Rate Loans shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to clause (c) of the definition of "Base Rate"), on the last day of the Interest Period therefor, if all affected Lenders may lawfully continue to maintain such Term SOFR Loans to such day, or immediately, if any Lender may not lawfully continue to maintain such Term SOFR Loans to such day, in each case until the Administrative Agent is advised in writing by each affected Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon SOFR, the Term SOFR Reference Rate or Term SOFR. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted, together with any additional amounts required pursuant to <u>Section 2.14(b)</u>.

Section 2.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Fees</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees to pay or cause to be paid to the Administrative Agent and the Lenders fees in the amounts and at the times from time to time agreed to by the parties, including pursuant to each Fee Letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;All Fees shall be paid on the dates due in immediately available funds. Once paid, none of the Fees shall be refundable under any circumstances.

SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS AND WARRANTIES

To induce the Administrative Agent and the Lenders to enter into this Agreement and to make the Loans, the Borrower hereby represents and warrants to the Administrative Agent and each Lender that:

Section 3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Condition</u>. The unaudited consolidated balance sheet provided to the Administrative Agent and Lenders pursuant to <u>Section 4.1(n)</u> presents fairly in all material respects the consolidated financial condition of the Borrower as at such date. Such balance sheet has been prepared in accordance with GAAP applied consistently throughout the period involved.

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Section 3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>No Change</u>. As of the Closing Date, since December 31, 2024 there has been no development or event that has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or Sponsor MAE.

Section 3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Existence; Compliance with Law</u>. Each of the Borrower and the Project Pledgor (a) is duly organized or formed, validly existing and in good standing under the laws of the jurisdiction of its organization or formation, (b) has the organizational power and authority, and all requisite Permits from Governmental Authorities, to own and operate its Property, to lease the Property it leases as lessee and to conduct the business in which it is currently engaged, (c) is duly qualified as a foreign corporation or other organization and in good standing under the laws of each jurisdiction where its ownership, lease or operation of Property or the conduct of its business requires such qualification and (d) is in compliance with all Requirements of Law, except, in the case of clauses (b), (c) and (d) above, to the extent that failure of the same could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Section 3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Power; Authorization; Enforceable Obligations</u>. The Borrower has the requisite corporate or other organizational power and authority to make, deliver and perform the Loan Documents executed or to be executed by it. The Borrower has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance of the Loan Documents executed or to be executed by it. No consent or authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority is required in connection with the borrowings hereunder, the granting of Liens pursuant to the Security Documents or the execution, delivery or performance of this Agreement or any of the other Loan Documents, except (a) those consents, authorizations, filings and notices that have been obtained or made and are in full force and effect and (b) the filings or other actions referred to in <u>Section 3.17</u>. Each Loan Document has been duly executed and delivered on behalf of the Borrower and constitutes a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors' rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).

Section 3.6&nbsp;&nbsp;&nbsp;&nbsp;<u>No Litigation</u>. No litigation, action, suit, claim, dispute, investigation or proceeding (excluding, for the avoidance of doubt, any request for rehearing or appeal of any ruling in respect of any material Permit), whether public or non-public, of or before any arbitrator or Governmental Authority is pending or, to the knowledge of the Borrower, threatened by or against the Borrower, Project Pledgor or against any of their respective

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properties (i) that could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or (ii) that could (A) reasonably be expected to materially and adversely affect the Loan Parties ability, taken as a whole, to perform their material obligations under the Loan Documents or (B) affect the enforceability of the Loan Documents.

Section 3.7&nbsp;&nbsp;&nbsp;&nbsp;<u>No Default</u>. No Default or Event of Default has occurred and is continuing. No VGCP2 Group Entity is in default under or with respect to, or a party to, any Contractual Obligation that could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Section 3.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Ownership of Property; Liens</u>. Other than as set forth on <u>Schedule 3.8</u>, each of the Borrower and Project Pledgor has good and valid title or a license to use, as the case may be, to, or a valid leasehold interest in all its material property necessary in the ordinary conduct of its business, as currently conducted, and none of such Property is subject to any Lien except as permitted by <u>Section 6.2</u>.

Section 3.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. Each of the Borrower and Project Pledgor has filed or caused to be filed all tax returns that are required to be filed and has paid all Taxes due and payable by it (including in its capacity as a Withholding Agent) other than (a) any amount the validity of which is currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with GAAP have been provided on the books of the Borrower or Project Pledgor, as applicable, or (b) where the failure to make such filing, payment, deduction, withholding, collection or remittance could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. No Lien for Tax has been filed, and, to the knowledge of the Borrower, no written claim is being asserted, with respect to any such Tax, fee or other charge except, in each case, as could not be reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.

Section 3.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Margin Regulations</u>. No part of the proceeds of any Loans will be used for any purpose that violates the provisions of Regulations T, U or X.

Section 3.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Nature of Business</u>. (a) The Borrower is not engaged in any business or operation other than the ownership of Project Pledgor, (b) Project Pledgor is not engaged in any business or operation other than the ownership of the Project Borrower and each Project Guarantor, and (c) Project Borrower and each Project Guarantor are not engaged in any business or operation other than as permitted pursuant to the Project Financing Documents (collectively, the "<u>Permitted Business</u>").

Section 3.12&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA</u>. (a) Neither the Borrower nor Project Pledgor maintains, administers or contributes to any Pension Plan or Multiemployer Plan; (b) no ERISA Event has occurred; (c) the Borrower and each Commonly Controlled Entity, and each of their respective ERISA Affiliates are in compliance with all applicable provisions and requirements of ERISA and the 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; (d) the present value of the aggregate benefit liabilities under each Pension Plan (determined as of the end of the most recent plan year on the basis of the actuarial assumptions

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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; and (e) as of the most recent valuation date for each Multiemployer Plan for which the actuarial report is available, the potential liability of the Borrower and each Commonly Controlled Entity for a complete withdrawal from such Multiemployer Plan (within the meaning of Section 4203 of ERISA) for which the actuarial report is available, when aggregated with such potential liability for a complete withdrawal from all Multiemployer Plans is zero; except, in each case, as could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.

Section 3.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Company Act</u>. The Borrower is not an "investment company," or a company "controlled" by an "investment company," within the meaning of the Investment Company Act of 1940.

Section 3.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsidiaries; Capitalization</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;(i) The Borrower does not have any Subsidiaries other than the Project Pledgor, the Project Borrower and the Project Guarantors, (ii) Project Pledgor does not have any Subsidiaries other than the Project Borrower and the Project Guarantors, and (iii) neither the Project Borrower nor the Project Guarantors have any Subsidiaries. No VGCP2 Group Entity is a general partner or a limited partner in any general or limited partnership or is a joint venturer in any Joint Venture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Capital Stock of the Borrower and Project Pledgor has been duly authorized and validly issued. There are no outstanding subscriptions, options, warrants, calls, rights or other commitments granted to any Person of any nature relating to any Capital Stock of the Borrower or Project Pledgor.

Section 3.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u>. The proceeds of the Loans shall be used for the purposes set forth in <u>Section 2.4</u>.

Section 3.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Accuracy of Information, Etc.</u> Except as otherwise disclosed in writing, no statement or information contained in this Agreement, any other Loan Document, or any other document, certificate or written statement furnished to the Arrangers, the Administrative Agent or the Lenders or any of them, by or on behalf of the Borrower for use in connection with the transactions contemplated by this Agreement or the other Loan Documents (other than the Base Case Projections, the Construction Budget and Schedule, the Early Cargo Projections and any forecast, estimate, forward-looking information, information of a general economic or general industry nature or pro forma calculation), when taken as a whole, contains as of the Closing Date any untrue statement of a material fact or omitted to state a material fact necessary to make the statements contained herein or therein, in light of the circumstances under which they were made, not misleading in any material respect. The projections and pro forma financial information contained in the materials referenced above (including the Base Case Projections, the Construction Budget and Schedule and the Early Cargo Projections) are based upon good faith estimates and assumptions believed by management of the Borrower to be reasonable at the time made in light of the legal and factual circumstances then applicable to the VGCP2 Project Phase 1 (and, with respect to the Early Cargo Projections, the VGPL LNG Project), it being

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recognized by the Lenders that such projections and pro forma financial information as they relate to future events are not to be viewed as fact and that actual results during the period or periods covered by such projections and pro forma financial information may differ from the projected results set forth therein by a material amount. As of (a) the Closing Date, the information included in the Beneficial Ownership Certification delivered pursuant to <u>Section 4.1(k)</u>, if any, is true and correct in all respects, and (b) as of the date delivered, the information included in each Beneficial Ownership Certification delivered pursuant to Section 5.18 is true and correct in all respects.

Section 3.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Security Documents</u>. Upon execution and delivery by the parties thereto, each of the Security Documents is effective to create in favor of the Administrative Agent for the benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral described therein and proceeds thereof. In the case of (i) any Pledged Equity as described in the Security Documents which is in certificated form, when any stock, membership or partnership unit certificates representing such Pledged Equity are delivered to, and in the possession of, the Administrative Agent and (ii) the Collateral Accounts, upon execution and delivery by the parties thereto of the applicable Account Control Agreement, (iii) the other Collateral described in the Security Documents, when financing statements in appropriate form are filed in the offices specified on <u>Schedule 3.17</u>, the security interest created in favor of the Administrative Agent for the benefit of the Secured Parties in such Pledged Equity, the Collateral Accounts and other Collateral shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Borrower and the Pledgor (as applicable) in such Pledged Equity, the Collateral Accounts and other Collateral and the proceeds thereof, in which a security interest may be perfected by (A) delivery to the Administrative Agent of such Pledged Equity, together with a duly executed instrument of transfer executed in blank, (B) execution and delivery of an account control agreement or (C) by filing a financing statement, as security for the Obligations, in each case prior and superior in right to any other Person (other than Persons holding Liens or other encumbrances or rights that are permitted to be incurred pursuant to <u>Section 6.2</u>).

Section 3.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Solvency</u>. On the Closing Date, after giving effect to the making of the Loans, the application of the proceeds thereof and the granting of Liens contemplated by the Security Agreement, the Borrower is Solvent.

Section 3.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Indebtedness and Liabilities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower has no outstanding Indebtedness other than Indebtedness permitted under <u>Section 6.1</u>. Other than Indebtedness permitted under <u>Section 6.1</u>, the Borrower does not have any Guarantee Obligations, contingent liabilities, long-term leases or unusual forward or long-term commitments, including any material interest rate or foreign currency swap or exchange transaction or other obligation in respect of derivatives that are prohibited by the terms of the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Project Pledgor has no outstanding Indebtedness, Guarantee Obligations, contingent liabilities, long-term leases or unusual forward or long-term commitments, including any material interest rate or foreign currency swap or exchange transaction or other obligation in respect of derivatives.

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Section 3.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Anti-Money Laundering and Anti-Corruption Laws; Sanctions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;To the extent applicable, the Pledgor and each VGCP2 Group Entity is in compliance and the operations of the Pledgor and each VGCP2 Group Entity are and have been, since April 24, 2019, conducted in compliance, in all material respects, with all applicable Sanctions and applicable financial recordkeeping and reporting requirements, including those of (i) the PATRIOT Act and (ii) the applicable anti-money laundering statutes of jurisdictions where Pledgor or any VGCP2 Group Entity conducts business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental Authority in such jurisdictions (collectively, the "<u>Anti-Money Laundering Laws</u>"), and no action, suit or proceeding by or before any Governmental Authority in such jurisdictions involving any of the Pledgor or any VGCP2 Group Entity with respect to the Anti-Money Laundering Laws or Sanctions is pending or, to the best knowledge of the Borrower, threatened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;No part of the proceeds of the Loans will be used, directly or, to the knowledge of any Loan Party, 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 (the "<u>FCPA</u>"), or otherwise 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 Anti-Corruption Laws. None of the Pledgor or any VGCP2 Group Entity or any director or officer thereof, nor, to the knowledge of any Loan Party, any employee, agent or representative thereof, has taken, within the past five years, or will take any action in furtherance of an offer, payment, promise to pay or authorization or approval of the payment, giving or receipt of money, property, gifts or anything else of value, directly or, to the knowledge of any Loan Party, indirectly, to any government official (including any officer or employee of a government or government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for public office), or to any Person, each in violation of Anti-Corruption Laws. The Pledgor and the VGCP2 Group Entities have conducted their businesses in compliance in all material respects with Anti-Corruption Laws and have instituted and maintained and will continue to maintain policies and procedures reasonably designed to promote and achieve compliance with such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;None of the Pledgor or any VGCP2 Group Entity or any director or officer thereof, nor, to the knowledge of any Loan Party, any employee, agent, or representative thereof, is a Sanctioned Person, and the Borrower will not directly or, to the knowledge of any Loan Party, indirectly use the proceeds of the Loans or lend, contribute or otherwise make available such proceeds to any Person (A) to fund or facilitate any activities or business of or with any Sanctioned Person or in any Sanctioned Country or (B) in any other manner that will result in a violation of Sanctions by any Person.

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Section 3.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Federal Taxpayer Identification Number</u>. The Borrower's federal taxpayer identification number is 39-2770952.

Section 3.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Pari Passu Ranking</u>. The Borrower's obligations under this Agreement rank and will rank at least *pari passu* in priority of payment and in all other respects with all other present or future Indebtedness of the Borrower.

Section 3.23&nbsp;&nbsp;&nbsp;&nbsp;<u>No Employees</u>. Neither the Pledgor nor any VGCP2 Group Entity has any current or former employees.

Section 3.24&nbsp;&nbsp;&nbsp;&nbsp;<u>Equator Principles</u>. The Project Borrower is in compliance in all material respects with the Equator Principles.

Section 3.25&nbsp;&nbsp;&nbsp;&nbsp;<u>Accounts</u>. None of the Loan Parties has, and is not the beneficiary of, any bank account, other than the Collateral Accounts and any bank accounts holding proceeds which are subject to Liens permitted under <u>Section 6.2</u>.

Section 3.26&nbsp;&nbsp;&nbsp;&nbsp;<u>Affected Financial Institutions</u>. No Loan Party is an Affected Financial Institution.

Section 3.27&nbsp;&nbsp;&nbsp;&nbsp;<u>Project Representations</u>. As of the Closing Date, the representations and warranties of the Project Borrower and each Project Guarantor made pursuant to Article 5 of the Common Terms Agreement are true and correct in all material respects; <u>provided</u> that, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality or Material Adverse Effect (as defined in the Common Terms Agreement) in the text of the Common Terms Agreement.

SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;CONDITIONS PRECEDENT

Section 4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to Closing Date</u>. Each of the occurrence of the Closing Date and the obligation of the Initial Lenders to make Loans on the Closing Date is subject to the satisfaction or waiver of the conditions precedent set forth below before or concurrently with the Closing Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Loan Documents</u>. The Administrative Agent shall have received (i) this Agreement, (ii) each of the Fee Letters, (iii) the Security Agreement, (iv) the Contingent Equity Contribution Agreement, (v) the Account Control Agreements referenced in <u>clauses (a)</u> and <u>(b)</u> of the definition thereof, and (vi) to the extent requested by any Initial Lender, an Equity Bridge Loan Note and an Interest Reserve Loan Note for such Initial Lender, in each case, duly executed and delivered by the Persons intended to be parties thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Funding Notice</u>. The Administrative Agent shall have received a fully executed and delivered Funding Notice with respect to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Fees and Expenses</u>. The Borrower shall have paid (or the Initial Lenders and/or the Administrative Agent shall withhold from the proceeds of the Loans on the Closing Date) all fees and expenses required to be paid pursuant to the Fee Letters and

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<u>Section 9.5</u> for which reasonably detailed invoices have been presented at least two (2) Business Days prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Solvency Certificate</u>. The Lenders shall have received a solvency certificate, substantially in the form of <u>Exhibit F</u>, executed by a Responsible Officer of the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Lien Searches</u>. The Administrative Agent shall have received the results of recent Uniform Commercial Code, Tax and judgment lien searches in each relevant jurisdiction reasonably requested by the Administrative Agent with respect to each of the entities set forth on <u>Schedule 4.1(e)</u>; and such searches shall reveal no Liens on any of the Collateral except for Liens permitted by <u>Section 6.2</u> or Liens to be discharged on or prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Closing Date and Secretary's Certificates</u>. The Administrative Agent shall have received (i) a certificate of the Borrower, dated the Closing Date, substantially in the form of <u>Exhibit B-1</u> and (ii) a certificate of the Borrower, the Pledgor and the Sponsor, dated the Closing Date, substantially in the form of <u>Exhibit B-2</u> and, in each case, with the attachments contemplated thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Legal Opinions</u>. The Administrative Agent shall have received, in form and substance reasonably acceptable to the Administrative Agent, a legal opinion of Latham & Watkins LLP, as New York and federal regulatory counsel to the Loan Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>Filings, Registrations and Recordings</u>. Each document (including any Uniform Commercial Code financing statement) required as of the Closing Date by the Security Documents or under law or reasonably requested by the Administrative Agent to be filed, registered or recorded in order to create in favor of the Administrative Agent for the benefit of the Secured Parties, a perfected Lien on the Collateral described therein, prior and superior in right to any other Person (other than with respect to Liens expressly permitted by <u>Section 6.2</u>), shall have been filed, registered or recorded or shall have been delivered to the Administrative Agent in proper form for filing, registration or recordation, or arrangements reasonably satisfactory to the Administrative Agent for such filing, registration, recordation and/or delivery shall have been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>PATRIOT Act</u>. The Initial Lenders shall have received, at least three (3) days prior to the Closing Date, to the extent requested sufficiently in advance thereof, all documentation and other information with respect to the Borrower required by bank regulatory authorities under applicable "know your customer" and anti-money laundering rules and regulations, including the PATRIOT Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;<u>Funds Flow</u>. The Administrative Agent shall have received the Funds Flow Memorandum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;<u>Beneficial Ownership Certification</u>. The Borrower shall have delivered to the Administrative Agent a Beneficial Ownership Certification at least three (3) days

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prior to the Closing Date if it qualifies as a "legal entity customer" under the Beneficial Ownership Regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties</u>. The representations and warranties contained herein and in the other Loan Documents shall be true and correct in all material respects on and as of the Closing Date to the same extent as though made on and as of that 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; <u>provided</u> that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;<u>No Default</u>. No event shall have occurred and be continuing or will result from the making of the Loans on the Closing Date that would constitute a Default or an Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;<u>Balance Sheet; Sponsor</u>. The Administrative Agent and the Lenders shall have received the most recent pro forma consolidated balance sheet of the Borrower. In addition, the Administrative Agent and the Lenders shall have received the audited consolidated balance sheet of the Sponsor and its consolidated Subsidiaries as at December 31, 2024, and the audited consolidated statements of operations and comprehensive loss and cash flows of the Sponsor and its consolidated Subsidiaries for the fiscal period then ended, and such financial statements, including the related schedules and notes thereto, shall have been prepared in accordance with GAAP applied consistently throughout the period involved (except as approved by the aforementioned firm of accountants and disclosed therein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;<u>No Material Adverse Effect or Sponsor MAE</u>. Since December 31, 2024, there shall not have occurred any development or event that has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or Sponsor MAE.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction Budget and Schedule; Base Case Projections; Early Cargo Projections</u>. The Administrative Agent shall have received certified copies of (i) the Construction Budget and Schedule (as defined in the Common Terms Agreement) required to be delivered to the Intercreditor Agent pursuant to Section 4.1(g)(i) of the Common Terms Agreement (the "<u>Construction Budget and Schedule</u>"); (ii) the then current forecasts of the financial performance of the Borrower, which forecasts shall be reasonably satisfactory in form and substance to the Administrative Agent (the "<u>Base Case Projections</u>"); and (iii) the then current forecasts of commissioning cargos to be exported at the VGPL LNG Project prior to the occurrence of the VGPL Phase 2 COD, which forecasts shall be reasonably satisfactory in form and substance to the Administrative Agent (the "<u>Early Cargo Projections</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;<u>Indebtedness</u>. Immediately following the consummation of the transactions contemplated hereby, the Borrower shall not have any Indebtedness outstanding other than Indebtedness permitted by <u>Section 6.1</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;<u>Final Investment Decision and Project Financing Closing</u>. (i) The Project Borrower shall have made the final investment decision with respect to VGCP2 Project Phase 1, (ii) the Project Financing Closing shall have occurred or shall occur substantially simultaneously with the Closing Date hereunder, (iii) a true, correct and complete copy of each document required to be delivered under Section 4.1 of the Common Terms Agreement shall have been delivered to the Initial Lenders and (iv) copies of the Project Financing Documents shall have been delivered to the Initial Lenders or posted in a data room accessible to the Initial Lenders. Each Material Project Agreement (as defined in the Common Terms Agreement) shall be in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;<u>Pledged Equity; Stock Powers</u>. The Administrative Agent shall have received the certificates representing the shares or membership units of Capital Stock pledged on the Closing Date pursuant to the Security Documents, together with an undated stock power for each such certificate executed in blank by a duly authorized representative or officer of the Borrower or the Project Pledgor, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Reserve Account</u>. The Borrower shall have established a deposit account or securities account in the name of the Borrower with Bank of America, N.A. or such other financial institution as is reasonably acceptable to the Administrative Agent (such account, the "<u>Interest Reserve Account</u>"), which shall be funded on the Closing Date with proceeds of the Interest Reserve Loans, as contemplated by the Funds Flow Memorandum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;<u>ECR Account</u>. The Borrower shall have established a deposit account or securities account in the name of the Borrower with Bank of America, N.A. or such other financial institution as is reasonably acceptable to the Administrative Agent (such account, the "<u>ECR Account</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;<u>Sponsor Indentures.</u> The Administrative Agent shall have received true, correct and complete copy of the Sponsor Indentures (as defined in the Contingent Equity Contribution Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;<u>Expert Reports and Reliance Letters</u>. The Administrative Agent shall have received copies of each of the final reports required to be delivered to the Intercreditor Agent pursuant to Sections 4.1(g)(iii) (*Independent Engineer Report*), 4.1(g)(iv) (*CCRA Consultant Report*), 4.1(g)(v) (*Market Consultant Report*), 4.1(g)(vi) (*Environmental Consultants*) and 4.1(i) (*Insurance*) of the Common Terms Agreement, in each case, together with a reliance letter from the respective consultant in form and substance reasonably satisfactory to the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;<u>Release Letter</u>. The Administrative Agent shall have received a release letter, in form and substance reasonably satisfactory to the Administrative Agent, confirming that all security interests, pledges, encumbrances, and/or other Liens granted by Project Obligors securing the loans made pursuant to the CP2 Pre-FID Bridge Facility have been released or shall be released, concurrently with the consummation of the transactions contemplated by the Loan Documents; and the Project Obligors shall have repaid, or made arrangements to repay, all outstanding Indebtedness and other obligations incurred and

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outstanding in connection with the CP2 Pre-FID Bridge Facility, substantially concurrently with the Closing Date.

SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;AFFIRMATIVE COVENANTS

The Borrower hereby agrees that, so long as the Termination Conditions have not been satisfied, the Borrower shall:

Section 5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Statements</u>. Furnish to the Administrative Agent for delivery to each Lender and take the following actions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;within one hundred twenty (120) days after the end of each fiscal year of the Borrower, beginning with the fiscal year ending December 31, 2025, a copy of the audited consolidated balance sheet of the Borrower as at the end of such year and the related audited consolidated statements of operations and of cash flows for such year, setting forth, if applicable, in each case (except in the case of any financial statements relating to periods on or prior to December 31, 2025) in comparative form the figures for the previous year, by Ernst & Young LLP or any other independent certified public accountants of nationally recognized standing, together with a report and opinion by such certified public accountants, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any "going concern" or like emphasis, qualification or exception or any emphasis, qualification or exception as to the scope of such audit (other than any emphasis, qualification or exception that is expressly solely with respect to, or expressly resulting solely from, an upcoming maturity date under any Indebtedness that is scheduled to occur within one (1) year from the time such report and opinion are delivered);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;not later than sixty (60) days after the end of each of the first three (3) fiscal quarters of each fiscal year of the Borrower, beginning with the fiscal quarter ending June 30, 2025, (i) the unaudited consolidated balance sheet of the Borrower as of the end of such quarter, together with, if applicable, in comparative form, the figures as of the end of the prior fiscal year, (ii) the unaudited consolidated statement of operations of the Borrower for such quarter and the portion of the fiscal year through the end of such quarter, together with, if applicable, in comparative form, the figures for the corresponding period in the previous year and (iii) the unaudited statement of cash flows of the Borrower for the portion of the fiscal year through the end of such quarter, together with, if applicable, in comparative form, the figures for the corresponding period in the previous year, in each case, certified by a Responsible Officer of the Borrower as being fairly stated in all material respects (subject to normal year-end audit adjustments and the absence of footnotes). Comparative form financial statements will not be provided for the fiscal quarters of the Borrower ending on June 30, 2025, September 30, 2025 and March 31, 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;within one hundred twenty (120) days after the end of each fiscal year of the Sponsor, beginning with the fiscal year ending December 31, 2025, a copy of the audited consolidated balance sheet of the Sponsor and its consolidated Subsidiaries as at the end of such year and the related audited consolidated statements of operations and of cash flows for such year, setting forth in each case in comparative form the figures as of the end of and for the

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previous year, by Ernst and Young LLP or any other independent certified public accountants of nationally recognized standing, together with a report and opinion by such certified public accountants, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not contain a qualification as to "going concern" or the scope of such audit (other than any qualification that is expressly solely with respect to, or expressly resulting solely from, an upcoming maturity date under any Indebtedness that is scheduled to occur within one year from the time such report and opinion are delivered); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;not later than ninety (90) days after the end of each of the first three (3) fiscal quarters of each fiscal year of the Sponsor, beginning with the fiscal quarter ending June 30, 2025, the unaudited consolidated balance sheet of the Sponsor and its consolidated Subsidiaries as of the end of such quarter, the related unaudited consolidated statements of operations for such quarter and the portion of the fiscal year through the end of such quarter and the related unaudited consolidated statement of cash flows for the portion of the fiscal year through the end of such quarter, setting forth, in each case, in comparative form the figures as of the end of the previous fiscal year with respect to the consolidated balance sheet, and for the corresponding period(s) in the previous year with respect to the unaudited statements of operations and the unaudited statement of cash flows, certified by a Responsible Officer of the Borrower as being fairly stated in all material respects (subject to normal year-end audit adjustments and the absence of footnotes).

Financial statements and other information required to be delivered pursuant to this <u>Section 5.1</u>, <u>Section 5.2</u> or <u>Section 5.6</u> may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such information, or provides a link thereto, on the website of the Borrower or (ii) on which such information is posted on behalf of the Borrower on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial or third-party website or whether sponsored by the Administrative Agent). The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for maintaining its copies of such documents.

Section 5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Certificates; Other Information</u>. Furnish to the Administrative Agent for delivery to each Lender:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;concurrently with the delivery of any financial statements pursuant to <u>Section 5.1</u>, a Compliance Certificate of the Borrower or Sponsor, as applicable, (the first such Compliance Certificate to be delivered for the fiscal quarter ending June 30, 2025) certifying as to whether a Default then exists and, if a Default does then exist, specifying the details thereof and any action taken or proposed to be taken with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all information and notices required to be furnished by the Project Borrower to the Intercreditor Agent under Sections 10.1 (*Accounting, Financial and Other Information*), 10.3 (*Notices*), 10.4 (*Construction Reports*), 10.7 (*Insurance Reporting*) and 10.9 (*Construction Budget and Schedule*) of the Common Terms Agreement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;as soon as available, any notices of default delivered by or to the Sponsor or VGPL under their respective credit facilities or otherwise in respect of their outstanding Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;within ten (10) Business Days after the end of each calendar month, beginning with the month ending August 31, 2025, updated Early Cargo Projections, together with a certificate of the Borrower or the Sponsor that the projections and pro forma financial information contained in the Early Cargo Projections are based upon good faith estimates and assumptions believed by management of the Borrower or the Sponsor to be reasonable at the time made in light of the legal and factual circumstances then applicable to the VGPL LNG Project, it being recognized by the Lenders that such projections and pro forma financial information as they relate to future events are not to be viewed as fact and that actual results during the period or periods covered by such projections and pro forma financial information may differ from the projected results set forth therein by a material amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;within ten (10) Business Days after the end of each calendar month, beginning with the month ending August 31, 2025, an officer's certificate, substantially in the form of Exhibit I (the "<u>VGPL Certificate</u>") and executed by a Responsible Officer of the Borrower, setting forth (i) the Borrower's estimate of the amount of Pre-Completion Revenues (as defined in the VGPL Common Terms Agreement) from the VGPL LNG Project with respect to such preceding calendar month, (ii) the amount of such Pre-Completion Revenues, in each case, as applicable, (A) applied to the payment of construction and operating expenses, (B) reserved for tax payments, (C) distributed by VGPL, (D) applied to reimburse Drawstop Equity Contributions (as defined in the VGPL Common Terms Agreement), (E) reserved for contingency in accordance with the VGPL Common Terms Agreement and (F) applied to the mandatory prepayment of Loans in accordance with Sections 2.10 and 2.11, (iii) after giving effect to the reimbursement of Drawstop Equity Contributions contemplated by the foregoing clause (ii)(D) the aggregate amount of current Drawstop Equity Contributions that have not been reimbursed and (iv) after giving effect to the reservation of contemplated by the foregoing clause (ii)(E), the aggregate amount of reserved contingency in accordance with the VGPL Common Terms Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;promptly following any request therefor, (i) such other information regarding the operations, business, properties, liabilities (actual or contingent), condition (financial or otherwise) or prospects of the Borrower or any other VGCP2 Group Entity, VGPL or the Sponsor, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender (through the Administrative Agent) may from time to time reasonably request; or (ii) information and documentation reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable "know your customer" requirements under the PATRIOT Act or other applicable anti-money laundering laws.

The Borrower hereby acknowledges that certain of the Lenders may be Public Lenders and, if documents or notices required to be delivered pursuant to <u>Section 5.1</u> or this <u>Section 5.2</u> or otherwise are being distributed through Datasite Diligence/IntraLinks/IntraAgency, SyndTrak or another relevant website or other information platform (the "<u>Platform</u>"), any document or notice

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that the Borrower has not clearly and conspicuously marked "PUBLIC" shall not be posted on that portion of the Platform designated for such Public Lenders. The Borrower agrees to use commercially reasonable efforts to clearly designate all information provided to the Administrative Agent by or on behalf of the Borrower which is suitable to make available to Public Lenders. If the Borrower has not indicated whether a document or notice delivered pursuant to this paragraph contains Non-Public Information, the Administrative Agent reserves the right to post such document or notice solely on that portion of the Platform designated for Lenders who wish to receive Non-Public Information with respect to the Borrower and its securities ("<u>Private Side Information</u>"). Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected to receive Private Side Information in order to enable such Public Lender or its delegate, in accordance with such Public Lender's compliance procedures and applicable Law, including United States federal and state securities Laws, to make reference to communications that are not made through the "Public" portion of the Platform and that may contain Non-Public Information.

Section 5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment of Taxes and Other Obligations</u>. The Borrower shall, and shall cause Project Pledgor to, pay, discharge or otherwise satisfy (i) 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 (ii) all other material obligations, except where (A) the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or Project Pledgor, as the case may be, or (B) the failure could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

Section 5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Conduct of Business and Maintenance of Existence; Compliance with Law</u>. The Borrower shall, and shall cause each other VGCP2 Group Entity to, (a)(i) preserve, renew and keep in full force and effect its organizational existence and good standing in its jurisdiction of incorporation or organization and (ii) maintain all rights, privileges and franchises necessary or desirable in the normal conduct of its business except to the extent that failure to maintain thereof could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (b) comply with all Requirements of Law, except to the extent that failure to comply therewith could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Section 5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Inspection of Property; Books and Records; Discussions</u>. The Borrower shall, and shall cause each other VGCP2 Group Entity to, (a) keep proper books of records and account in which entries which are full, true and correct, in all material respects, in conformity with GAAP shall be made of all material dealings and transactions in relation to its business and activities and (b) permit representatives of the Administrative Agent to visit and inspect any of its properties and examine any of its books and records at any reasonable time during normal business hours and as often as may reasonably be desired (but, the Administrative Agent may not have more than one visit per any twelve month period except during an Event of Default), upon reasonable advance notice to the Borrower or the applicable other VGCP2 Group Entity, and to discuss, not more than once per any twelve month period, the business, operations, properties and financial and other condition of the Borrower or the applicable other VGCP2 Group Entity

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with officers and employees of the Borrower or the applicable other VGCP2 Group Entity (and the Borrower and the applicable other VGCP2 Group Entity will be given the opportunity to participate in any such discussions with such independent certified public accountants).

Section 5.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Promptly (and in any event not later than three (3) Business Days) after obtaining knowledge of the same, give notice to the Administrative Agent of:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any dispute, claim, litigation, investigation or proceeding (i) affecting the Borrower or any other VGCP2 Group Entity, Pledgor, Sponsor or VGPL that could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, or (ii) with respect to any of the Loan Documents or any of the transactions contemplated hereby or thereby;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected to have a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any other development or event that has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or Sponsor MAE.

Each notice pursuant to this <u>Section 5.6</u> shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken or proposes to take with respect thereto.

Section 5.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Maintenance of Lien; Further Assurances; Additional Collateral</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;From time to time, execute and deliver, or cause to be executed and delivered, such additional instruments, certificates or documents, and take such actions, as the Administrative Agent may reasonably request for the purposes of more fully creating, maintaining, preserving, perfecting or renewing the Liens granted in favor of (together with the other rights of) the Administrative Agent and the Secured Parties with respect to the Collateral (or with respect to any additions thereto or replacements or proceeds thereof or with respect to any other property or assets hereafter acquired by the Borrower which are required to become part of the Collateral) pursuant hereto or thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Promptly discharge, at the Borrower's cost and expense, any Lien (other than Liens permitted under <u>Section 6.2</u>) on the Collateral.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Upon the exercise by the Administrative Agent or any Secured Party of any power, right, privilege or remedy pursuant to this Agreement, the other Loan Documents which requires any consent, approval, recording, qualification or authorization of any Governmental Authority, the Borrower will execute and deliver, or will cause the execution and delivery of, all applications, certifications, instruments and other documents and papers that the Administrative Agent or such Secured Party may be reasonably required to obtain from the Borrower for such governmental consent, approval, recording, qualification or authorization.

Section 5.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Auditors</u>. Engage independent certified public accountants of recognized national standing as auditors to audit financial statements.

Section 5.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Separateness</u>. The Borrower shall, and shall cause each other VGCP2 Group Entity to, comply with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;such Person will maintain deposit accounts and other accounts, separate from those of its parent companies, with commercial banking institutions and will not commingle its funds with those of any other Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;such Person will act solely in its name and through its duly authorized officers, managers, representatives or agents in the conduct of its businesses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;such Person will conduct in all material respects its business solely in its own name, in a manner not misleading to other Persons as to its identity (without limiting the generality of the foregoing, in all oral and written communications (if any), including invoices, purchase orders, and contracts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;such Person will obtain proper authorization from its board of directors, member(s), shareholder(s) and manager(s), as applicable, for its actions to the extent required by its organizational documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;such Person will comply in all material respects with the terms of its certificate of incorporation and other organizational documents.

Section 5.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u>. Use the proceeds of the Loans only for those purposes set forth in <u>Section 2.4</u>.

Section 5.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Sanctions; Anti-Corruption Laws</u>. Maintain in effect policies and procedures reasonably designed to promote compliance by the Loan Parties, each other VGCP2 Group Entity and each of its respective directors, officers, employees, and agents with applicable Sanctions and Anti-Corruption Laws.

Section 5.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Maintenance of Title</u>. Except as otherwise permitted hereunder, the Borrower shall, and shall cause Project Pledgor to, preserve and maintain good, legal and valid title to, or rights in, all of its properties (including, in the case of the Borrower, the Collateral) free and clear of Liens other than Liens permitted under <u>Section 6.2</u>.

Section 5.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Early Cargo Revenues</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;On the date the Borrower receives any amounts from the Sponsor under the Contingent Equity Contribution Agreement, the Borrower shall cause all such amounts to be deposited in the ECR Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Until the occurrence of the Termination Date, the Borrower shall not, and shall have no right to, apply such amounts in the ECR Account for any purpose other than, in the following order of priority, (i) the prepayment in full of the Equity Bridge Loans in accordance with Sections 2.10 and <u>2.11(b)(i)</u>; (ii) upon the prepayment of all Equity Bridge Loans, the prepayment of the Interest Reserve Loans then outstanding in accordance with Sections 2.10 and <u>2.11(b)(i)</u>; and (iii) upon the repayment in full of all Interest Reserve Loans and all other Obligations, as directed by the Borrower.

Section 5.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Treatment</u>. Each party hereto agrees (a) that the Loans are intended to be treated as debt for U.S. federal income tax purposes, and (b) to report the Loans on their U.S. federal income tax returns in a manner consistent with this <u>Section 5.14</u> unless otherwise required pursuant to a "determination" within the meaning of Section 1313(a) of the Code.

Section 5.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Reserve Account</u>. Open and maintain the Interest Reserve Account and, on the Closing Date, fund the Interest Reserve Account with cash from the Interest Reserve Loan proceeds in an amount that is equal to the aggregate principal amount of the Interest Reserve Facility minus any fees and expenses incurred in connection with the Facilities as of the Closing Date; <u>provided</u> that the Borrower shall not be required to maintain such amount in the Interest Reserve Account on any date after the Closing Date.

Section 5.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Early Cargo Revenue Account</u>. Open and maintain the ECR Account and, from time to time, fund the ECR Account with Early Cargo Revenues received from the Sponsor or one or more parent companies of the Borrower pursuant to the Contingent Equity Contribution Agreement.

Section 5.17&nbsp;&nbsp;&nbsp;&nbsp;<u>VGCP2 Project Financing</u>. Cause Project Pledgor, Project Borrower and the Project Guarantors to comply with all of the terms and provisions of the Project Financing Documents; <u>provided</u> that, any waiver of any such terms and provisions by the applicable lenders under the Project Financing Documents shall be deemed to constitute a waiver of this <u>Section 5.17</u> by the Lenders, so long as such waiver is in effect.

Section 5.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Beneficial Ownership Certification</u>. At least five (5) days prior to any Person becoming a Loan Party, if requested by any Lender, the Borrower shall cause any such Person that qualifies as a "legal entity customer" under the Beneficial Ownership Regulation and has not previously delivered a Beneficial Ownership Certification to deliver a Beneficial Ownership Certification to the Administrative Agent and the Lenders.

SECTION 6.&nbsp;&nbsp;&nbsp;&nbsp;NEGATIVE COVENANTS

The Borrower hereby agrees that, so long as the Termination Conditions have not been satisfied, the Borrower shall not, and shall not permit Project Pledgor to, directly or indirectly (<u>provided</u> that, for the avoidance of doubt, "indirectly" shall not include any action permitted to

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be taken by the Project Borrower or the Project Guarantor under the Project Financing Documents) or, as applicable, any other VGCP2 Group Entity to:

Section 6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Indebtedness</u>. With respect to the Borrower and Project Pledgor, create, incur or assume any Indebtedness, except with respect to the Borrower:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of the Borrower pursuant to any Loan Document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Indebtedness, indebtedness arising from honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course or other cash management services in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;trade or other similar Indebtedness incurred in the ordinary course of business, which is (i) not more than ninety (90) days past due or (ii) being contested in good faith and by appropriate proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;contingent liabilities incurred in the ordinary course of business, including the acquisition or sale of goods, services, supplies or merchandise in the normal course of business and the endorsement of negotiable instruments received in the normal course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness under Interest Rate Hedge Agreements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;any other unsecured Indebtedness in an aggregate amount outstanding at any one time not to exceed $20,000,000 for general corporate purposes.

Section 6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Liens</u>. With respect to the Borrower or Project Pledgor, create, incur, assume or suffer to exist any Lien upon any of its Property, whether now owned or hereafter acquired, except for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Liens for Taxes not overdue by more than forty-five (45) days or Liens with respect to Taxes, assessments or other governmental charges or levies that are being contested in good faith by appropriate proceedings, <u>provided</u> that, in the case of Liens with respect to contested Taxes, assessments or other governmental charges or levies, adequate reserves with respect thereto are maintained on the books of the Borrower, as the case may be, in conformity with GAAP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing judgments for the payment of money not constituting an Event of Default under <u>Section 7.1(j)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Liens created pursuant to the Loan Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;with respect to Project Pledgor, Liens on the equity interests of the Project Borrower and each Project Guarantor (and all proceeds thereof) created pursuant to the Project Financing Documents and any Liens permitted to be created under the Project Financing Documents;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any right of set-off, refund or charge-back available to any bank or other financial institution or any other Lien arising in connection therewith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;other Liens of the Borrower securing obligations not constituting Indebtedness in an aggregate principal amount at any time outstanding not to exceed $20,000,000; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Liens created pursuant to any Secured Hedge Agreements.

Section 6.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Fundamental Changes</u>. With respect to any VGCP2 Group Entity, merge, consolidate or amalgamate, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or change its form of organization, or Dispose of (other than the granting of a Lien permitted by <u>Section 6.2</u>) all or substantially all of its Property or business.

Section 6.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Disposition of Property</u>. With respect to the Borrower or Project Pledgor, dispose of any of its Property (including receivables and leasehold interests), whether now owned or hereafter acquired, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of cash and Cash Equivalents in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions in compliance with any applicable court or governmental order; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;settlement, release, waiver or surrender of contract, tort or other claims in the ordinary course of business or a grant of a Lien not prohibited by the Loan Documents.

Section 6.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Restricted Payments</u>. With respect to each VGCP2 Group Entity, declare or pay any dividend or other distribution on or with respect to, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement, cancellation, termination or other acquisition of, any Capital Stock of the Borrower, whether now or hereafter outstanding, or make any other payment on account of any return of capital to any such Person's stockholders, partners or members (or the equivalent of any thereof), either directly or indirectly, whether in cash or property or in obligations of the Borrower (collectively, "<u>Restricted Payments</u>"), except that any VGCP2 Group Entity other than the Borrower shall make Restricted Payments to the Borrower to the extent permitted under the Project Financing Documents; <u>provided</u> that, the Project Borrower may retain an operating reserve equal to the following six (6) months of Operation and Maintenance Expenses (as defined in the Common Terms Agreement) as set forth in the Operating Budget (as defined in the Common Terms Agreement).

Section 6.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Investments</u>. With respect to the Borrower or Project Pledgor, make or hold any Investment, except:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;extensions of trade credit (or notes receivable arising from such grant) and deposits, prepayments and other credits to suppliers made in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors or in connection with the bankruptcy or reorganization of suppliers or customers or in settlement of delinquent obligations of, or other disputes with, suppliers and customers, and other credits to suppliers in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Investments in cash and Cash Equivalents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Investments by the Borrower in the Project Borrower, each Project Guarantor and/or the Project Pledgor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Investments by the Project Pledgor in the Project Borrower and each Project Guarantor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Investments existing on the Closing Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of Interest Rate Hedge Agreements entered into in accordance with <u>Section 6.1(e)</u>.

Section 6.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Transactions with Affiliates</u>. With respect to the Borrower or Project Pledgor, enter into any transaction, including any purchase, sale, lease or exchange of Property, the rendering of any service or the payment of any management, advisory or similar fees, with any Affiliate, unless such transaction (or, if applicable, the series of related transactions to which such transaction is related) is upon terms no less favorable to the Borrower or Project Pledgor, as the case may be, than it would obtain in a comparable arm's-length transaction with a Person that is not an Affiliate, other than (a) the payment of customary fees and reasonable out-of-pocket costs to, and indemnities provided on behalf of, directors, officers, employees and consultants in the ordinary course of business, (b) Restricted Payments permitted under <u>Section 6.5</u> and Investments permitted under <u>Section 6.6</u>, and (c) equity contributions in the Borrower made by the Sponsor, the Pledgor or any of their Affiliates.

Section 6.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Amendments to Organizational Documents</u>. With respect to any VGCP2 Group Entity, amend its certificate of incorporation or other organizational documents in any manner that is materially adverse to the Lenders.

Section 6.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Changes in Fiscal Periods or Accounting Policies</u>. With respect to any VGCP2 Group Entity:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;permit the fiscal year of the applicable VGCP2 Group Entity to end on a day other than December 31 or change such VGCP2 Group Entity's method of determining fiscal quarters; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;change its accounting or financial reporting policies other than as permitted in accordance with GAAP or Requirements of Law.

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Section 6.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Negative Pledge Clauses</u>. With respect to the Borrower or Project Pledgor, enter into or suffer to exist or become effective any agreement that prohibits or limits the ability of the Borrower or Project Pledgor to create, incur, assume or suffer to exist any Lien upon any of its Property or revenues, whether now owned or hereafter acquired, to secure the Obligations, other than this Agreement and the other Loan Documents and with respect to the Project Pledgor, the Project Financing Documents, and except to the extent that any such agreement (a) exists as of the Closing Date or (b) any customary provisions in leases, subleases, licenses, sublicenses, contracts for management or development of Property, asset sale agreements, merger agreements, stock purchase agreements and other contracts restricting the same, in each case, entered into in the ordinary course of business; <u>provided</u> that, to the extent any such agreement is entered into after the Closing Date, such prohibition or limitation shall only be effective against the Property that is the subject of such other leases, subleases, licenses, sublicenses, agreements, contracts or deposits or to such Liens.

Section 6.11&nbsp;&nbsp;&nbsp;&nbsp;<u>No Employees</u>. With respect to any VGCP2 Group Entity, have any employees.

Section 6.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations on Joint Ventures and Subsidiaries</u>. With respect to any VGCP2 Group Entity, become a general partner in any general or limited partnership, become a joint venture partner in any Joint Venture or organize any new Subsidiary.

Section 6.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations on Changes in Nature of Business; Tax Matters</u>. With respect to any VGCP2 Group Entity, (a) engage in any business other than the applicable Permitted Business or (b) cease to be an entity disregarded for US federal, state and local income tax purposes.

Section 6.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations on Sale and Leaseback Transactions</u>. With respect to the Borrower or Project Pledgor, 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 the Borrower or Project Pledgor (as applicable) (a) has sold or transferred or is to sell or to transfer to any other Person 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 the Borrower or Project Pledgor (as applicable) in connection with such lease.

Section 6.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Margin Regulations</u>. With respect to the Borrower, use any part of the proceeds of the Loans to purchase or carry any 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.

Section 6.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Anti-Money Laundering and Anti-Corruption Laws; Sanctions</u>. With respect to the Loan Parties and any other VGCP2 Group Entity:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Fail to comply in all material respects with the Laws referred to in <u>Section 3.20</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Directly or knowingly indirectly, use the proceeds of the Loans, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture

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partner or other Person, (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of Anti-Corruption Laws, (ii) in violation of Anti-Money Laundering Laws, or (iii) (A) to fund any activities or business of or with any Sanctioned Person or in any Sanctioned Country, or (B) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loans, whether as Administrative Agent, Arranger, Lender, underwriter, advisor, investor, or otherwise).

Section 6.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Restrictions on Subsidiary Distributions</u>. Each VGCP2 Group Entity shall not, and shall not permit any of its Subsidiaries to, enter into or suffer to exist or become effective any consensual encumbrance or restriction on the ability of any Subsidiary of the Borrower to make Restricted Payments in respect of any Capital Stock of such Subsidiary held by the Borrower or any other Subsidiary of the Borrower, except for such encumbrances or restrictions existing under or by reason of any restrictions existing under (i) the Loan Documents or (ii) the Project Financing Documents, in the case of the foregoing clause (ii), existing on the date hereof.

Section 6.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Hedge Agreements</u>. None of the Loan Parties shall enter into any Hedge Agreement, other than Interest Rate Hedge Agreements entered into in accordance with Section 6.1(e), on a non-speculative basis.

SECTION 7.&nbsp;&nbsp;&nbsp;&nbsp;EVENTS OF DEFAULT

Section 7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Events of Default</u>. Each of the following events shall constitute an "<u>Event of Default</u>":

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall fail to pay any principal of any Loan when due in accordance with the terms hereof; or the Borrower shall fail to pay any interest on any Loan, or any other amount payable hereunder or under any other Loan Document, within three (3) Business Days after any such interest or other amount becomes due in accordance with the terms hereof or thereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) any representation or warranty made or deemed made by any Loan Party herein or in any other Loan Document or that is contained in any certificate, document or financial or other statement furnished by it at any time under or in connection with this Agreement or any such other Loan Document shall prove to have been incorrect in any material respect (or, in the case of any such representation or warranty under this Agreement or any other Loan Document already qualified by materiality, such representation or warranty shall prove to have been incorrect in any respect) on or as of the date made or deemed made, and such default shall continue unremedied for a period of thirty (30) days after the date on which the Loan Parties obtain knowledge thereof or (ii) any representation or warranty made or deemed made by the Sponsor in the Contingent Equity Contribution Agreement shall prove to have been incorrect in any respect and could reasonably be expected to, individually or in the aggregate, have a Sponsor MAE on or as of the date made or deemed made, and such default shall continue unremedied for a period of thirty (30) days after the date on which the Sponsor obtains knowledge thereof; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall default in the observance or performance of any agreement, condition or covenant contained in <u>clause (i)</u> of <u>Section 5.4(a)</u>, <u>Section 5.6(a), Section 5.11</u>, <u>Section 5.13(a)</u>, <u>Section 5.13(b)</u> or <u>Section 6</u> or Pledgor shall default in the observance of Section 4.8 of the Security Agreement, and such default shall continue unremedied for a period of three (3) Business Days after the earlier of (A) the date on which a Responsible Officer of any Loan Party obtains knowledge of such default and (B) the date on which any Loan Party has received written notice of such default from the Administrative Agent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any Loan Party shall default in the observance or performance of any other agreement, condition or covenant contained in this Agreement or any other Loan Document (other than as provided in <u>paragraphs (a)</u> through <u>(c)</u> of this <u>Section 7.1</u>), and such default shall continue unremedied for a period of thirty (30) days after the earlier of (i) the date on which a Responsible Officer of any Loan Party obtains knowledge of such default and (ii) the date on which any Loan Party has received written notice of such default from the Administrative Agent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;an "Event of Default" (as defined in the Common Terms Agreement) has occurred and is continuing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;(i) an "Event of Default" (as defined in the VGPL CTA) pursuant to Sections 15.1(a), 15.1(d) or 15.1(n) of the VGPL CTA has occurred and is continuing, or (ii) any other "Event of Default" (as defined in the VGPL CTA) has occurred and is continuing, and has continued for a period of at least forty-five (45) days after the date such "Event of Default" (as defined in the VGPL CTA) first occurred; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or other relief in respect of any VGCP2 Group Entity, Pledgor or the Sponsor or, in each case, each such entity's debts, or of a substantial part of its assets, under any Debtor Relief Law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any VGCP2 Group Entity, Pledgor or the Sponsor or for a substantial part of any such entity's assets, and, in any such case, such proceeding or petition shall continue undismissed for a period of sixty (60) or more days or an order or decree approving or ordering any of the foregoing shall be entered; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;any VGCP2 Group Entity, Pledgor or the Sponsor shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Debtor Relief Law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in <u>clause (h)</u> of this <u>Section 7.1</u>, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any VGCP2 Group Entity, Pledgor or the Sponsor or for a substantial part of any such entity's assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any VGCP2 Group Entity, Pledgor or the Sponsor shall become unable, admit in writing its inability or fail generally to pay its debts as they become due; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;one or more monetary judgments or decrees shall be entered against the Borrower, Project Pledgor or the Pledgor involving for the Borrower, Project Pledgor and the Pledgor, taken as a whole, a liability (to the extent not paid or covered by insurance as to which the relevant insurance company has not denied coverage in writing) of $20,000,000 or more, and all such judgments or decrees shall not have been paid, vacated, discharged, stayed or bonded pending appeal within sixty (60) days from the entry thereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;any non-monetary judgment, order or decree shall be rendered against the Borrower, Project Pledgor, Pledgor or the Sponsor that has resulted in a Material Adverse Effect or Sponsor MAE, and there shall be any period of sixty (60) days during which a stay of enforcement of such judgment, order or decree, by reason of a pending appeal or otherwise, shall not be in effect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;any Change of Control shall occur; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;any ERISA Event which individually or in the aggregate results in or could reasonably be expected to have a Material Adverse Effect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;the Sponsor shall default in the observance or performance of any agreement, condition or covenant contained in the Contingent Equity Contribution Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;the Sponsor shall (i) default in making any payment of any principal of any Material Indebtedness (including any Hedge Agreement) on the scheduled due date with respect thereto, (ii) default in making any payment of any interest on any such Material Indebtedness beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created, or (iii) default in the observance or performance of any other agreement or condition relating to any such Material Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice if required, all such Indebtedness to become due

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prior to its stated maturity or to become subject to a mandatory offer to purchase all obligations by the obligor thereunder;

then, and in every such event (other than an event with respect to the Borrower described in <u>clause (g)</u>, <u>(h)</u> or <u>(i)</u> of this <u>Section 7.1</u>), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take any or all of the following actions, at the same or different times:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;terminate the Commitments, and thereupon the Commitments shall terminate immediately;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other Obligations accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;exercise on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Loan Documents and Requirements of Law;

<u>provided</u> that, in case of any event with respect to the Borrower described in <u>clause (g)</u>, <u>(h)</u> or <u>(i)</u> of this <u>Section 7.1</u>, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other Obligations accrued hereunder, shall automatically become due and payable, in each case without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; <u>provided</u> <u>further</u> that (x) in the case of <u>Section 7.1(e)</u>, if the Event of Default (as defined in the Common Terms Agreement) is waived pursuant to the Project Financing Documents, then such Event of Default shall be automatically deemed waived hereunder as well upon delivery of a written notice by the Borrower to the Administrative Agent, so long as such waiver is in effect and (y) in the case of an Event of Default arising under <u>Section 7.1(d)</u> in connection with any failure to comply with the covenants in <u>Section 5.17</u>, if the applicable term or provision is waived pursuant to the Project Financing Documents, then such Event of Default shall be automatically deemed waived hereunder as well upon delivery of a written notice by the Borrower to the Administrative Agent, so long as such waiver is in effect.

Section 7.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Application of Proceeds</u>. All proceeds collected by the Administrative Agent upon any collection, sale, foreclosure or other realization upon any Collateral (including any distribution pursuant to a plan of reorganization), including any Collateral consisting of cash, shall be applied as follows:

FIRST, to the payment of all costs and expenses incurred by the Administrative Agent (in its capacity as such hereunder or under any other Loan Document) in connection with such collection, sale, foreclosure or realization or otherwise in

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connection with this Agreement, any other Loan Document or any of the Obligations, including all court costs and the fees and expenses of its agents and legal counsel, the repayment of all advances made by the Administrative Agent hereunder or under any other Loan Document on behalf of the Borrower and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document;

SECOND, to the payment in full of all Obligations (the amounts so applied to be distributed among the Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and

THIRD, to the Borrower, its successors or assigns, or as a court of competent jurisdiction may otherwise direct.

In addition, in the event that the Administrative Agent receives any non-cash distribution upon any collection, sale, foreclosure or other realization upon any Collateral, such non-cash distribution shall be allocated in the manner described above, with the value of such non-cash distribution being reasonably determined by the Administrative Agent; <u>provided</u> that, the Administrative Agent shall apply any cash distribution in accordance with this <u>Section 7.2</u> prior to application of any such non-cash distribution. The Administrative Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Administrative Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Administrative Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Agent or such officer or be answerable in any way for the misapplication thereof.

SECTION 8.&nbsp;&nbsp;&nbsp;&nbsp;THE ADMINISTRATIVE AGENT

Section 8.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Appointment and Authority</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Lenders hereby irrevocably appoints The Bank of Nova Scotia, Houston Branch to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this <u>Section 8.1</u> are solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall not have rights as a third party beneficiary of any of such provisions (except as provided in <u>Section 8.6</u> below). It is understood and agreed that the use of the term "agent" herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent shall also act as the collateral agent under the Loan Documents, and each of the Lenders hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by the Borrower to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as collateral agent, and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to <u>Section 8.5</u> for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Security Documents, or for exercising any rights and remedies thereunder at the direction of the Administrative Agent, shall be entitled to the benefits of all provisions of this <u>Section 8</u> and <u>Section 9</u> (including <u>Section 9.5(b)</u>, as though such co-agents, sub-agents and attorneys-in-fact were the collateral agent under the Loan Documents) as if set forth in full herein with respect thereto.

Section 8.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights as a Lender</u>. The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term "Lender" or "Lenders" shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders.

Section 8.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Exculpatory Provisions</u>. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent:

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any

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information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in <u>Section 9.1</u>) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given to the Administrative Agent by the Borrower or a Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;shall not be required to qualify in any jurisdiction in which it is not presently qualified to perform its obligations as Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;shall not be required to (i) expend or risk its own funds or provide indemnities in the performance of any of its duties hereunder or the exercise of any of its rights or powers, or (ii) otherwise incur any financial liability in the performance of its duties hereunder or the exercise of any of its rights or powers, except for such expense, indemnity or liability, if any, arising out of the Administrative Agent's gross negligence or willful misconduct in the performance of its duties hereunder or under any other Loan Document, as determined by a judgment of a court of competent jurisdiction by final and nonappealable judgment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified Lenders. Without limiting the generality of the foregoing, the Administrative Agent shall not (i) be obligated to ascertain, monitor or inquire as to whether any Lender or Participant

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or prospective Lender or Participant is a Disqualified Lender or (ii) have any liability with respect to or arising out of any assignment or participation of Loans, or disclosure of confidential information, to any Disqualified Lender.

No requirement in any Loan Document for the Borrower to provide evidence, opinion, information, documentation or other material requested or required by the Administrative Agent shall be construed to mean that the Administrative Agent has any responsibility to request or require such evidence, opinion, information, documentation or other material. No Lender shall assert, and each Lender hereby waives, any claim against the Administrative Agent, including any predecessor agent, its sub-agents and their respective Affiliates in respect of any action taken or omitted to be taken by any of them, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof.

Section 8.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Reliance by Administrative Agent</u>. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower or any Lender), independent accountants and other experts, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Section 8.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Delegation of Duties</u>. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this <u>Section 8</u> shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facility provided for herein as well as activities as Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.

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Section 8.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Resignation of Administrative Agent</u>. The Administrative Agent may at any time give notice of its resignation to the Lenders and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be an existing Lender, an Affiliate of any such bank with an office in the United States, or any other bank with an office in the United States with the prior written consent of the Borrower, in each case other than a Disqualified Lender. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may (but shall not be obligated to), on behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above; <u>provided</u> that, whether or not a successor has been so appointed, such resignation shall nonetheless become effective in accordance with such notice and (a) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (b) except for any indemnity payments owed to the retiring Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor's appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this <u>Section 8.6</u>). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent's resignation hereunder and under the other Loan Documents, the provisions of this <u>Section 8</u> and <u>Section 9.5</u> shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent.

Section 8.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Reliance on Administrative Agent and Other Lenders</u>. Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent, any Arranger or any other Lender or any of their respective Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent, any Arranger or any other Lender or any of their respective Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.

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Section 8.8&nbsp;&nbsp;&nbsp;&nbsp;<u>No Other Duties, Etc.</u> Anything herein to the contrary notwithstanding, the Arrangers listed on the cover page hereof shall not have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in their capacities, as applicable, as the Administrative Agent or a Lender hereunder.

Section 8.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Administrative Agent May File Proofs of Claim</u>. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to the Borrower, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under <u>Section 9.5</u>) allowed in such judicial proceeding; and

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under <u>Section 9.5</u>.

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

Section 8.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Collateral Matters; Rights Under Hedge Agreements.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Lenders irrevocably authorizes the Administrative Agent to release or evidence the release of any Lien on any property granted to or held by the Administrative Agent under any Loan Document, in each case as provided in <u>Section 9.18</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent's authority to release its interest in particular types or items of property pursuant to <u>Section 9.18</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;No Secured Hedge Agreement will create (or be deemed to create) in favor of any Lender Counterparty that is a party thereto any rights to manage or release any Collateral under the Loan Documents except as expressly provided in <u>Section 9.1(viii)</u>. By accepting the benefits of the Collateral, such Lender Counterparty shall be deemed to have appointed the Administrative Agent as its agent and agreed to be bound by the Loan Documents as a Secured Party, subject to the limitations set forth in this Section 8.10.

Section 8.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Withholding Taxes</u>. To the extent required by any applicable Requirements of Law, the Administrative Agent may withhold from any payment to any Lender an amount equivalent to any applicable withholding Tax except to the extent that such Lender has established an exemption from or reduction of such withholding Tax by complying with the requirements of <u>paragraph (f)</u> or (g) of <u>Section 2.16</u> or that such Tax has been withheld by any Loan Party. Without limiting or expanding the provisions of <u>Section 2.16</u>, each Lender shall severally, and not jointly, indemnify the Administrative Agent against, and shall make payable in respect thereof within ten (10) Business Days after demand therefor, any and all Taxes and any and all related losses, claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent) incurred by or asserted against the Administrative Agent by the Internal Revenue Service or any other Governmental Authority as a result of the failure of the Administrative Agent to properly withhold Tax from amounts paid to or for the account of such Lender for any reason (including because the appropriate form was not delivered or not properly executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of, withholding Tax ineffective), in each case, only to the extent that any Loan Party has not indemnified (and made whole) the Administrative Agent for such Taxes. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document against any amount due the Administrative Agent under this <u>Section 8.11</u>. The agreements in this <u>Section 8.11</u> shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations.

Section 8.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain ERISA Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower, that at least one of the following is and will be true:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;such Lender is not using "plan assets" (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender's entrance into, participation in, administration of and performance of the Loans, the Commitments or this Agreement;

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In addition, unless either (1) <u>sub-clause (i)</u> in the immediately preceding <u>clause (a)</u> is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with <u>sub-clause (iv)</u> in the immediately preceding <u>clause (a)</u>, such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower, that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender's entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto).

Section 8.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Erroneous Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender hereby agrees that (i) if the Administrative Agent notifies such Lender that the Administrative Agent has determined in its sole discretion that any funds received by such Lender from the Administrative Agent or any of its Affiliates (whether as a payment, prepayment or repayment of principal, interest, fees or otherwise; individually and collectively, an "<u>Erroneous Payment</u>") were erroneously transmitted to such Lender (whether or

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not known to such Lender), and demands the return of such Erroneous Payment (or a portion thereof), such Lender shall promptly, but in no event later than one (1) Business Day thereafter, return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made in same day funds, together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the Administrative Agent at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect, and (ii) to the extent permitted by applicable law, such Lender shall not assert, and hereby waives, as to the Administrative Agent, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Administrative Agent for the return of any Erroneous Payments received, including any defense based on "discharge for value" or any similar doctrine. A notice of the Administrative Agent to any Lender under this <u>Section 8.13(a)</u> shall be conclusive, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender hereby further agrees that if it receives an Erroneous Payment from the Administrative Agent or any of its Affiliates (i) that is in a different amount than, or on a different date from, that specified in a notice of payment sent by the Administrative Agent (or any of its Affiliates) with respect to such Erroneous Payment (an "<u>Erroneous Payment Notice</u>") or (ii) that was not preceded or accompanied by an Erroneous Payment Notice, it shall be on notice, in each such case, that an error has been made with respect to such Erroneous Payment. Each Lender agrees that, in each such case, or if it otherwise becomes aware an Erroneous Payment (or portion thereof) may have been sent in error, such Lender shall promptly notify the Administrative Agent of such occurrence and, upon demand from the Administrative Agent, it shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made in same day funds, together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the Administrative Agent at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower hereby agrees that (i) in the event an Erroneous Payment (or portion thereof) is not recovered from any Lender that has received such Erroneous Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the rights of such Lender with respect to such amount and (ii) an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the Borrower or any other Loan Party, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received by the Administrative Agent from the Borrower for the purpose of making such Erroneous Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each party's obligations under this <u>Section 8.13</u> shall survive the resignation or replacement of the Administrative Agent or any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments or the repayment, satisfaction or discharge of all Obligations.

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SECTION 9.&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS

Section 9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments and Waivers</u>. Neither this Agreement or any other Loan Document, nor any terms hereof or thereof may be amended, supplemented or modified except in accordance with the provisions of this <u>Section 9.1</u>. The Required Lenders and the Borrower may, or (with the written consent of the Required Lenders) the Administrative Agent and the Borrower may, from time to time, (a) enter into written amendments, supplements or modifications hereto and to the other Loan Documents (including amendments and restatements hereof or thereof) for the purpose of adding or removing any provisions to this Agreement or the other Loan Documents or changing in any manner the rights and obligations of the Lenders or the Borrower hereunder or thereunder or (b) waive, on such terms and conditions as may be specified in the instrument of waiver, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its consequences; <u>provided</u> that, the Administrative Agent may, with the consent of the Borrower only and without the need to obtain the consent of any Lender, amend, supplement or modify this Agreement or any other Loan Document to cure any ambiguity, omission, defect or inconsistency, so long as such amendment, supplement or modification does not adversely affect the rights of any Lender or the Lenders shall have received at least five (5) Business Days' prior written notice thereof and the Administrative Agent shall not have received, within five (5) 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; <u>provided</u> <u>further</u> that, no such waiver and no such amendment, supplement or modification shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;forgive the principal amount of any Loan, extend the final scheduled date of maturity of any Loan, reduce the stated rate of any interest, fee or premium payable under this Agreement (except in connection with the waiver of applicability of any post-default increase in interest rates (which waiver shall be effective with the consent of the Required Lenders)), extend the time for payment of any interest, fees or premium or increase the amount or extend the expiration date of any Commitment of any Lender, in each case without the consent of each Lender directly and adversely affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;impose any additional restriction on any Lender's ability to assign any of its rights or obligations hereunder or under the other Loan Documents without the consent of each Lender directly and adversely affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;amend, modify or waive any provision of this <u>Section 9.1</u>, without the consent of each Lender, or reduce any percentage specified in the definition of Required Lenders or reduce the consent required under any provision pursuant to which the consent of Required Lenders is necessary, in each case, without the consent of each Lender directly affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and the other Loan Documents without the consent of each Lender;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;amend, modify or waive any provision of <u>Section 8</u>, or any other provision affecting the rights, duties or obligations of the Administrative Agent, without the consent of the Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;amend, modify or waive any provision of <u>Section 2.13</u> without the consent of each Lender directly affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;amend, modify or waive the priority of payments set forth in <u>Sections 7.2</u> without the consent of each Lender directly affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;except upon satisfaction of the Termination Conditions, release all or substantially all of the Collateral in any transaction or series of related transactions or release the Sponsor or Pledgor from its obligations under the Contingent Equity Contribution Agreement, in each case without the written consent of each Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;amend, modify or waive any provision of this Agreement or the Security Agreement so as to alter the ratable treatment of Obligations arising under the Loan Documents and Obligations arising under Secured Hedge Agreements or the definitions of "Lender Counterparty," "Secured Hedge Agreement" or "Obligations" (with respect to the treatment of obligations under Secured Hedge Agreements) in each case in a manner adverse to any Lender Counterparty with Obligations then outstanding without the written consent of any such Lender Counterparty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;reduce the percentage of Early Cargo Revenues set forth in the definition of "Equity Contribution Amount" in the Contingent Equity Contribution Agreement without the written consent of each Lender; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;subordinate the Loans to any other Indebtedness for borrowed money or subordinate any Lien securing the Loans on a material portion of the Collateral to any other Lien securing any other Indebtedness, in each case, except any "debtor-in-possession" facility without the consent of each Lender;

<u>provided</u> <u>further</u> that, any Loan Document may be waived, amended, supplemented or modified pursuant to an agreement or agreements in writing entered into by the Borrower and the Administrative Agent (without the consent of any Lender) solely to grant a new Lien for the benefit of the Secured Parties or extend an existing Lien over additional property.

Any such waiver and any such amendment, supplement or modification shall apply equally to each of the Lenders and shall be binding upon the Borrower, the Lenders, the Administrative Agent and all future holders of the Loans. In the case of any waiver, the Borrower, the Lenders and the Administrative Agent shall be restored to their former position and rights hereunder and under the other Loan Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default, or impair any right consequent thereon. Any such waiver, amendment, supplement or modification shall be effected by a written instrument

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signed by the parties required to sign pursuant to the foregoing provisions of this <u>Section 9.1</u>; <u>provided</u> that, delivery of an executed signature page of any such instrument by facsimile transmission shall be effective as delivery of a manually executed counterpart thereof.

Section 9.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by telefacsimile or e-mail), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered, or three (3) Business Days after being deposited in the mail, postage prepaid, or, in the case of telefacsimile notice, when received, addressed (a) in the case of the Borrower and the Administrative Agent, as follows, or (b) in the case of any Lender, as indicated to the Administrative Agent in writing or, in the case of a Lender which becomes a party to this Agreement pursuant to an Assignment and Acceptance, in such Assignment and Acceptance:

Borrower: &nbsp;&nbsp;&nbsp;&nbsp;CP2 LNG Holdings, LLC<br>1001 19th Street North<br>Suite 1500<br>Arlington, VA 22209<br>Attention: [\*\*\*]<br>Fax: [\*\*\*]<br>E-mail: [\*\*\*]<br>With a copy to<br>Attention: [\*\*\*]<br>E-mail: [\*\*\*]

Administrative Agent:&nbsp;&nbsp;&nbsp;&nbsp;The Bank of Nova Scotia, Houston Branch,<br>as Administrative Agent<br>711 Louisiana St., Suite 1400

Houston, TX 77002<br>Attention: [\*\*\*]<br>Email: [\*\*\*]

Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and other communications provided for herein shall be in writing in the English language (or, if not available in the English language, accompanied by an English language translation of such document) and shall be delivered by hand or overnight courier service, mailed by certified or registered mail, sent by email to the address, and/or email address of the party hereto to whom notice is being sent set forth above.

The Borrower agrees that (i) the Administrative Agent may, but shall not be obligated to, make any communications available to the Lenders by posting the communications on the Platform and (ii) the Administrative Agent shall, and the Borrower hereby expressly authorizes the Administrative Agent to, promptly (A) post the list of Disqualified Lenders provided by the Borrower and any updates thereto from time to time (collectively, the "<u>DQ List</u>") and the

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Disqualified Advisor List on the Platform, including that portion of the Platform that is designated for Public Lenders and/or (B) provide the DQ List and the Disqualified Advisor List to each Lender requesting the same.

Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender's receipt of an acknowledgment from the intended recipient (such as by the "return receipt requested" function, as available, return e-mail or other written acknowledgment) and (ii) notices and other communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as described in the foregoing <u>clause (i)</u>, of notification that such notice or communication is available and identifying the website address therefore; <u>provided</u> that, for both <u>clauses (i)</u> and <u>(ii)</u> above, if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient.

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

Section 9.3&nbsp;&nbsp;&nbsp;&nbsp;<u>No Waiver; Cumulative Remedies</u>. No failure to exercise and no delay in exercising, on the part of the Administrative Agent or any Lender, any right, remedy, power or privilege hereunder or under the other Loan Documents shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

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Section 9.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival of Representations and Warranties</u>. All representations and warranties made herein, in the other Loan Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the making of the Loans and other extensions of credit hereunder.

Section 9.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment of Expenses; Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees (i) to pay or reimburse each of the Agent Parties, and the Arrangers for all their reasonable out-of-pocket costs and expenses incurred in connection with the development, negotiation, preparation and execution of, and any amendment, supplement or modification to, this Agreement and the other Loan Documents and any other documents prepared in connection herewith or therewith, and the consummation and administration of the transactions contemplated hereby and thereby, including the reasonable and documented fees and disbursements of a single law firm as counsel to the Administrative Agent and the Arrangers and one local counsel to the Administrative Agent in any relevant jurisdiction, and including the maintenance of any datasites (such as DebtDomain) for the administration of the transactions contemplated hereby, (ii) to pay or reimburse each Lender and the Agent Parties for all their costs and expenses incurred in connection with the enforcement or preservation of any rights under this Agreement, the other Loan Documents and any other documents prepared in connection herewith or therewith, including the reasonable and documented fees and disbursements of a single law firm as counsel to the Lenders and the Agent Parties taken as a whole and one local counsel to the Lenders and the Agent Parties taken as a whole in any relevant material jurisdiction (or, with respect to enforcement, any relevant jurisdiction) and, if a conflict exists among such Persons, one additional primary counsel and, if necessary or advisable, one local counsel in each relevant jurisdiction, and (iii) to pay, indemnify or reimburse each Lender, the Arrangers, the Agent Parties, their respective Affiliates, and their respective officers, directors, trustees, employees, advisors, agents and controlling persons (each, an "<u>Indemnitee</u>") for, and hold each Indemnitee harmless from and against any and all other liabilities, obligations, losses, damages, penalties, claims (including Environmental Claims), actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever (limited to, in the case of counsel, the reasonable and documented fees and disbursements of a single law firm as counsel to the Indemnitees taken as a whole and one local counsel to the Indemnitees taken as a whole in any relevant jurisdiction and, if a conflict exists among such Persons and the Indemnitee affected by such conflict notifies the Borrower of the existence of such conflict, one additional primary counsel and, if necessary or advisable, one local counsel in each relevant jurisdiction) whether direct, indirect, special or consequential, incurred by an Indemnitee or asserted against any Indemnitee arising out of, or as a result of (A) the execution, enforcement or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto or thereto of their respective obligations hereunder or thereunder, (B) any Loan or the use or proposed use of the proceeds thereof, (C) the generation, use, manufacture, possession, storage, holding, presence, existence, location, Release, threatened Release, placement, generation, transportation, processing, construction, treatment, abatement, removal, remediation, disposition or handling of any Hazardous Materials, and any corrective action or response action with respect to any of the foregoing, by the Borrower, or any liability under any Environmental Law related in any way to

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the Borrower or any of its properties, or (D) any actual or prospective claim, litigation, investigation or proceeding arising out of, or as a result of the foregoing, whether based on contract, tort or any other theory, whether brought by any third party or by the Borrower, and regardless of whether any Indemnitee is a party thereto (all the foregoing in this <u>clause (iii)</u>, collectively, the "<u>Indemnified Liabilities</u>"), but excluding, in each case, Taxes other than any Taxes that represent losses, damages, etc., arising from a non-Tax claim; <u>provided</u> that, the Borrower shall have no obligation hereunder to any Indemnitee with respect to Indemnified Liabilities to the extent such Indemnified Liabilities are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence, willful misconduct or material breach in bad faith of its obligations under this Agreement of such Indemnitee. No Indemnitee shall be liable for any damages arising from the use by unauthorized persons of information or other materials sent through electronic, telecommunications or other information transmission systems that are intercepted by such persons, except to the extent that such damages have resulted from the gross negligence, willful misconduct or material breach in bad faith of its obligations under this Agreement of such Indemnitee. Neither any Indemnitee nor the Borrower shall be liable for any special, indirect, consequential or punitive damages in connection with the Facilities; <u>provided</u> that, this sentence shall not otherwise affect the indemnification and reimbursement obligations of the Borrower in this <u>Section 9.5</u>. Without limiting the foregoing, and to the extent permitted by applicable Law, the Borrower agrees not to assert, and hereby waives all rights for contribution or any other rights of recovery with respect to all claims, demands, penalties, fines, liabilities, settlements, damages, costs and expenses of whatever kind or nature, under or related to Environmental Laws, that it might have by statute or otherwise against any Indemnitee other than those resulting from the gross negligence, willful misconduct or material breach in bad faith of its obligations under this Agreement of such Indemnitee. All amounts due under this <u>Section 9.5</u> shall be payable not later than ten (10) days after written demand therefor. The agreements in this <u>Section 9.5</u> shall survive the termination of the Commitments and the repayment of the Loans and all other amounts payable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Reimbursement by Lenders</u>. To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under <u>subsection (a)</u> of this <u>Section 9.5</u> to be paid by it to the Administrative Agent (or any sub-agent thereof) or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) or such Related Party, as the case may be, such Lender's Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, <u>provided</u> that, the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent) in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) in connection with such capacity.

Section 9.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns; Participations and Assignments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be binding upon and inure to the benefit of the Borrower, the Lenders, the Administrative Agent, all future holders of the Loans and their respective successors and assigns, except that the Borrower may not assign or transfer any of its

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rights or obligations under this Agreement without the prior written consent of the Administrative Agent and each Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;At any time any Lender may, without the consent of the Borrower, in accordance with applicable Law, at any time sell to one or more banks, financial institutions or other entities (each, a "<u>Participant</u>") participating interests in any Loan owing to such Lender or any other interest of such Lender hereunder and under the other Loan Documents; <u>provided</u> that, no Lender shall be permitted to sell any such participating interest to (i) the Borrower or any of its Affiliates, (ii) any natural person (or a holding company, investment vehicle or trust for, or owned and operated for, the primary benefit of one or more natural persons) or (iii) any Disqualified Lender. In the event of any such sale by a Lender of a participating interest to a Participant, such Lender's obligations under this Agreement to the other parties to this Agreement shall remain unchanged, such Lender shall remain solely responsible for the performance thereof, such Lender shall remain the holder of any such Loan for all purposes under this Agreement and the other Loan Documents, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement and the other Loan Documents. In no event shall any Participant under any such participation have any right to approve any amendment or waiver of any provision of any Loan Document, or any consent to any departure by the Borrower therefrom, except to the extent that such amendment, waiver or consent would require the consent of all Lenders or all affected Lenders pursuant to <u>Section 9.1</u>. The Borrower agrees that if amounts outstanding under this Agreement and the Loans are due or unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall, to the maximum extent permitted by applicable law, be deemed to have the right of setoff in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Lender under this Agreement; <u>provided</u> that, in purchasing such participating interest, such Participant shall be deemed to have agreed to share with the Lenders the proceeds thereof as provided in <u>Section 9.7(a)</u> as fully as if such Participant were a Lender hereunder. The Borrower also agrees that each Participant shall be entitled through the Lender granting the participation to the benefits of <u>Sections 2.15</u> or <u>2.16</u> (subject to the requirements and limitations of such Sections, <u>Sections 2.17</u> and 2.18, including the requirements of <u>Section 2.16(f)</u> through <u>(i)</u> (it being agreed that any required forms shall be provided solely to the participating Lender)) with respect to its participation in the Loans outstanding from time to time as if such Participant were a Lender; <u>provided</u> that, no Participant shall be entitled to receive any greater amount pursuant to any such Section than the transferor Lender would have been entitled to receive in respect of the amount of the participation transferred by such transferor Lender to such Participant had no such transfer occurred, except to the extent that entitlement to a greater amount results from a change in Law that occurs after such Participant acquires the applicable participation, unless such transfer was made with the Borrower's prior written consent (which consent shall not be unreasonably withheld or delayed). Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal and interest amounts of each Participant's interest in the Loans held by it (the "<u>Participant Register</u>"). The entries in the Participant Register shall be conclusive, absent manifest error, and such Lender

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shall treat each Person whose name is recorded in the Participant Register as the owner of the participation in question for all purposes of this Agreement, notwithstanding notice to the contrary. No Lender shall have any obligation to disclose all or any portion of a Participant Register (including the identity of any Participant or any information relating to a Participant's interest under any Loan Document) to any Person except to the extent such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form within the meaning of Sections 163(f), 871(h)(2), and 881(c)(2) of the Code and any regulations thereunder (and any amended or successor versions), including under Section 5f.103-1(c) and proposed Section 1.163-5 of the United States Treasury Regulations (and any amended or successor versions).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender (an "<u>Assignor</u>") may, in accordance with applicable Law and the written consent of the Administrative Agent (which shall not be unreasonably withheld or delayed) and, so long as no Event of Default has occurred and is continuing, the Borrower (which shall not be unreasonably withheld or delayed) (<u>provided</u> that, the Borrower shall be deemed to have consented to any such assignment unless they shall object thereto by written notice to the Administrative Agent within ten (10) Business Days after having received notice thereof), assign to any Permitted Assignee (an "<u>Assignee</u>") all or any part of its rights and obligations under this Agreement pursuant to an Assignment and Acceptance executed by such Assignee and such Assignor and delivered to the Administrative Agent for its acceptance and recording in the Register; <u>provided</u> that, assignments made to any Lender, or any Affiliate or Related Fund thereof will not be subject to the above described consents; <u>provided</u> <u>further</u> that, no assignment to an Assignee (other than any Lender or any Affiliate thereof) of Loans shall be in an aggregate principal amount of less than $1,000,000 (other than in the case of an assignment of all of a Lender's interests in the Facilities under this Agreement) and, after giving effect thereto, the assigning Lender (if it shall retain any Loans) shall have Loans aggregating at least $1,000,000 unless otherwise agreed by the Administrative Agent and the Borrower; <u>provided</u> <u>further</u> that, no Lender shall be permitted to assign all or any part of its rights and obligations under this Agreement to (i) the Borrower or any of its Affiliates, (ii) any natural person or (iii) any Disqualified Lender. Upon such execution, delivery, acceptance and recording in the Register, from and after the effective date determined pursuant to such Assignment and Acceptance, (x) the Assignee thereunder shall be a party hereto and, to the extent provided in such Assignment and Acceptance, have the rights and obligations of a Lender hereunder with Loans as set forth therein, and (y) the Assignor thereunder shall, to the extent provided in such Assignment and Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all of an Assignor's rights and obligations under this Agreement, such Assignor shall cease to be a party hereto, except as to <u>Sections 2.15</u>, <u>2.16</u> and <u>9.5</u> in respect of the period prior to such effective date). For purposes of the minimum assignment amounts set forth in this paragraph, multiple assignments by two or more Related Funds shall be aggregated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Upon its receipt of an Assignment and Acceptance executed by an Assignor and an Assignee (and, in any case where the consent of any other Person is required by <u>Section 9.6(c)</u>, by each such other Person) together with payment to the Administrative Agent of a registration and processing fee of $3,500 (<u>provided</u> that, (i) Administrative Agent may, in its

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sole discretion, elect to waive such processing and recordation fee in the case of any assignment and (ii) no such fee shall be required to be paid in the case of an Assignee which is already a Lender or any Affiliate or Related Fund thereof), the Administrative Agent shall (1) promptly accept such Assignment and Acceptance and (2) on the effective date determined pursuant thereto record the information contained therein in the Register and give notice of such acceptance and recordation to the Borrower. On or prior to such effective date, the Borrower, at its own expense, upon request, shall execute and deliver to the Administrative Agent (in exchange for the applicable Equity Bridge Loan Notes or Interest Reserve Loan Notes of the assigning Lender) a new Equity Bridge Loan Note or Interest Reserve Loan Note (as applicable) to such Assignee in an amount equal to the Loans assumed or acquired by it pursuant to such Assignment and Acceptance and, if the Assignor has retained Loans, upon request, a new Equity Bridge Loan Note or Interest Reserve Loan Note (as applicable) to the Assignor in an amount equal to the Loans retained by it hereunder. Such new Equity Bridge Loan Note(s) or Interest Reserve Loan Note(s) shall be dated the Closing Date and shall otherwise be in the form of the Equity Bridge Loan Note(s) or Interest Reserve Loan Note(s) replaced thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with <u>Section 9.6(c)</u> and <u>9.6(d)</u> shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with <u>Section 9.6(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;For avoidance of doubt, the parties to this Agreement acknowledge that the provisions of this <u>Section 9.6</u> concerning assignments of Loans and Equity Bridge Loan Notes or Interest Reserve Loan Notes relate only to absolute assignments and that such provisions do not prohibit assignments creating security interests in Loans and Equity Bridge Loan Notes or Interest Reserve Loan Notes, including any pledge or assignment by a Lender of any Loan or Equity Bridge Loan Notes or Interest Reserve Loan Notes to any Federal Reserve Bank and any central bank in accordance with applicable Law.

Section 9.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments; Set-off</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender (a "<u>Benefited Lender</u>") shall at any time receive any payment of all or part of the Obligations owing to it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in <u>Section 7.1(g)</u> or <u>(h)</u> or otherwise), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Obligations, such Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Obligations, or shall provide such other Lenders with the benefits of any such collateral, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of such collateral ratably with each of the Lenders; <u>provided</u> that, if all or any portion of such excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In addition to any rights and remedies of the Lenders provided by law, upon the occurrence and during the continuation of any Event of Default, each Lender and

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each of its Affiliates shall have the right, without prior notice to the Borrower, any such notice being expressly waived by the Borrower to the extent permitted by applicable Law, upon any amount becoming due and payable by the Borrower hereunder (whether at the stated maturity, by acceleration or otherwise), to set off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or any branch or agency thereof to or for the credit or the account of the Borrower, as the case may be. Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any such setoff and application made by such Lender; <u>provided</u> that, the failure to give such notice shall not affect the validity of such setoff and application.

Section 9.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts; E-Signature</u>. This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Agreement by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof. A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrower and the Administrative Agent. The words "execution", "execute", "signed", "signature", and words of like import in or related to any document signed or to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the parties hereto, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

Section 9.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Section 9.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Integration</u>. This Agreement and the other Loan Documents represent the entire agreement of the Borrower, the Administrative Agent and the Lenders with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent or any Lender relative to the subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents.

Section 9.11&nbsp;&nbsp;&nbsp;&nbsp;<u>GOVERNING LAW</u>. THIS AGREEMENT, THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT, EACH OTHER LOAN DOCUMENT AND ANY CLAIM, CONTROVERSY, DISPUTE, PROCEEDING OR CAUSE OF ACTION (WHETHER IN CONTRACT, TORT OR OTHERWISE AND WHETHER AT

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LAW OR IN EQUITY) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

Section 9.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Submission To Jurisdiction; Waivers</u>. Each party hereto hereby irrevocably and unconditionally:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;submits for itself and its Property in any legal action or proceeding relating to this Agreement and the other Loan Documents to which it is a party (including any claims sounding in contract, tort or otherwise and whether at law or in equity), or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern District of New York, and appellate courts from any thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to its address set forth in <u>Section 9.2</u> or at such other address of which the Administrative Agent shall have been notified pursuant thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;agrees that the Administrative Agent and the Lenders retain the right to bring proceedings against the Borrower in the courts of any other jurisdiction in connection with the exercise of any rights under any Loan Document or the enforcement of any judgment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;agrees that nothing herein shall affect the right of the Administrative Agent and the Lenders to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this <u>Section 9.12</u> any special, exemplary, punitive or consequential damages.

Section 9.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgments</u>. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees, and acknowledges its Affiliates' understanding, that: (a)(i) the arranging and other services regarding this Agreement provided by the Administrative Agent and the Arrangers are arm's-length commercial transactions between the Borrower and its Affiliates, on the one hand, and the Administrative Agent and the Arrangers, on the other hand, (ii) the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent they have deemed appropriate, and (iii) the Borrower is capable of evaluating, and understand and accept, the terms, risks and

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conditions of the transactions contemplated hereby and by the other Loan Documents; (b)(i) the Administrative Agent and the Arrangers are and have been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, have not been, are not, and will not be acting as an advisor, agent or fiduciary for the Borrower or any of its Affiliates, or any other Person, and (ii) none of the Administrative Agent or the Arrangers have any obligation to the Borrower or any of its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (c) the Administrative Agent and the Arrangers and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower and its Affiliates, and none of the Administrative Agent or the Arrangers have any obligation to disclose any of such interests to the Borrower or any of its Affiliates. To the fullest extent permitted by law, each of the Borrower hereby waives and releases any claims that it may have against the Administrative Agent or any Arranger with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.

Section 9.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>. Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality of all information provided to it by the Borrower or any of its Affiliates relating to the Borrower, any of its Affiliates, or any of its or their businesses, other than (i) any such information that is available to the Administrative Agent or such Lender on a nonconfidential basis prior to disclosure by the Borrower and (ii) information pertaining to this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the lending industry ("<u>Information</u>"); <u>provided</u> that, nothing herein shall prevent the Administrative Agent or any Lender from disclosing any Information (a) to the Administrative Agent, any other Lender or any Affiliate of any thereof, (b) to any Participant or Assignee (each, a "<u>Transferee</u>") or prospective Transferee that agrees to comply with the provisions of this <u>Section 9.14</u> or substantially equivalent provisions (it being understood that the list of Disqualified Lenders may be disclosed to any Transferee or, to the extent any such Person would be permitted to become a Transferee pursuant to this Agreement, a prospective Transferee in reliance on this clause (b)), (c) to any of its Affiliates or any of its or its Affiliates' employees, partners, directors, officers, agents, trustees, administrators, managers, attorneys, accountants, advisors and other representatives, it being understood and agreed that such Persons to whom such Information is disclosed will be informed of the confidential nature of such Information and will be instructed to keep such Information confidential, (d) to any financial institution (or its Related Parties) that is an actual or prospective direct or indirect contractual counterparty in any swap, derivative or other transaction under which payments are to be made by reference to the Borrower and its obligations, this Agreement and payments hereunder, or any Permitted Assignee or participant acquiring, or potentially acquiring, any interest of a Lender under this Agreement, or any such contractual counterparty's professional advisor (so long as such contractual counterparty or professional advisor to such contractual counterparty agrees to be bound by the provisions of this <u>Section 9.14</u> or substantially equivalent provisions), (e) upon the request or demand of any Governmental Authority having jurisdiction over such Person, (f) to the extent required by order of any court or other Governmental Authority or to the extent otherwise required pursuant to any Requirement of Law or by any subpoena or similar legal process, (g) to any insurers and credit risk support providers in respect of the Obligations (so long as, in each case, such Person agrees to be bound by the provisions of this <u>Section 9.14</u> or

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substantially equivalent provisions), (h) that becomes publicly available other than in breach of this <u>Section 9.14</u> or that becomes available to the Administrative Agent, any Lender or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower who did not acquire such information as a result of a breach of this <u>Section 9.14</u>, (i) to the extent required or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners or any similar organization), (j) on a confidential basis to any nationally recognized rating agency (x) in connection with any rating of the Borrower or (y) that requires access to information about a Lender's investment portfolio in connection with ratings issued with respect to such Lender, (k) to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Facilities, (l) to the Equator Principles Association (or any successor thereof), (m) to any other party hereto, (n) with the consent of the Borrower, or (o) in connection with the exercise of any remedy hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder; <u>provided</u> that, in the event a Lender receives a summons or subpoena to disclose confidential information to any party, such Lender shall, if legally permitted, endeavor to notify the Borrower thereof as soon as possible after receipt of such request, summons or subpoena and to afford the Borrower an opportunity to seek protective orders, or such other confidential treatment of such disclosed information, as the Borrower may deem reasonable. Any Person required to maintain the confidentiality of Information as provided in this <u>Section 9.14</u> shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. Notwithstanding anything to the contrary in this <u>Section 9.14</u>, no Information shall be disclosed to a Disqualified Lender or a Disqualified Advisor that is a Disqualified Lender or a Disqualified Advisor, as the case may be, at the time of such disclosure without the Borrower's prior written consent. For the avoidance of doubt, nothing herein prohibits any individual from communicating or disclosing information regarding suspected violations of laws, rules, or regulations to a governmental, regulatory, or self-regulatory authority.

Section 9.15&nbsp;&nbsp;&nbsp;&nbsp;<u>WAIVERS OF JURY TRIAL</u>. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN (INCLUDING ANY CLAIMS SOUNDING IN CONTRACT, TORT OR OTHERWISE AND WHETHER AT LAW OR IN EQUITY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 9.15</u>.

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Section 9.16&nbsp;&nbsp;&nbsp;&nbsp;<u>USA PATRIOT ACT</u>. Each Lender that is subject to the PATRIOT Act and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the PATRIOT Act, it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the PATRIOT Act. The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable "know your customer" and anti-money laundering rules and regulations, including the PATRIOT Act.

Section 9.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments Set Aside</u>. To the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent or any Lender, or the Administrative Agent or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Effective Rate from time to time in effect. The obligations of the Lenders under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this Agreement.

Section 9.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Releases of Collateral</u>. Each of the Lenders (including in its capacity as a potential Lender Counterparty) irrevocably authorizes the Administrative Agent to be the agent for the representative of the Lenders with respect to the Collateral and the Security Documents; <u>provided</u> that, the Administrative Agent shall not owe any fiduciary duty, duty of loyalty, duty of care, duty of disclosure or any other obligation whatsoever to any holder of Obligations with respect to any Secured Hedge Agreements, and the Administrative Agent agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent's Lien on any property granted to or held by the Administrative Agent under any Loan Document shall be automatically and fully released (i) upon satisfaction of the Termination Conditions, or (ii) if approved, authorized or ratified in writing in accordance with <u>Section 9.1</u>.

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Termination Conditions and the corresponding release of Collateral, the Administrative Agent hereby agrees, at the request of the Borrower, to execute a payoff letter (in substantially the form attached hereto as <u>Exhibit H</u>) and the other documentation contemplated by <u>clause (c)</u> below (all at the Borrower's sole cost and expense).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;It will promptly execute, authorize or file such documentation as may be reasonably requested by the Borrower to release, or evidence the release (in registrable form, if applicable), its Liens with respect to any Collateral as set forth in this <u>Section 9.18</u>; <u>provided</u> that, the foregoing shall be at the Borrower's sole cost and expense.

Section 9.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Time</u>. Time is of the essence in all respects hereof.

Section 9.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Divisions</u>. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction's laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Capital Stock at such time.

Section 9.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement and Consent to Bail-In of Affected Financial Institutions</u>. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and

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

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

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

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of the applicable Resolution Authority.

Section 9.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement Regarding any Supported QFCs</u>. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Hedge Agreements or any other agreement or instrument that is a QFC (such support "<u>QFC Credit Support</u>" and each such QFC a "<u>Supported QFC</u>"), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the "<u>U.S. Special Resolution Regimes</u>") in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States):

In the event a Covered Entity that is party to a Supported QFC (each, a "<u>Covered Party</u>") becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States.

Section 9.23&nbsp;&nbsp;&nbsp;&nbsp;<u>Limited Recourse</u>.

Subject to clause (b) below, each Secured Party that is a party hereto acknowledges and agrees that the obligations of the Borrower and Pledgor under this Agreement and the other Loan Documents, including with respect to the payment of the principal of or premium or penalty, if any, or interest on any Obligations, or any part thereof, or for any claim based thereon or otherwise in respect thereof or related thereto, are obligations solely of the Borrower and Pledgor (as applicable) and shall be satisfied solely from the security and assets of the Borrower and Pledgor and shall not constitute a debt or obligation of Affiliates of Borrower (other than the Pledgor), nor of any past, present or future shareholders, partners, members, directors, officers, employees, agents, attorneys or representatives of the Borrower, the Pledgor and their Affiliates (collectively (but excluding the Borrower and Pledgor), the "<u>Non-Recourse Parties</u>").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Secured Party that is a party hereto acknowledges and agrees that, subject to clause (b) below, the Non-Recourse Parties shall not be liable for any amount payable under this Agreement or any other Loan Document, and no Secured Party shall seek a money judgment or deficiency or personal judgment against any Non-Recourse Party for payment or performance of any obligation of the Borrower or the Pledgor (as applicable) under this Agreement or the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The acknowledgments, agreements and waivers set out in this <u>Section 9.23</u> shall be enforceable by any Non-Recourse Party and are a material inducement for the execution of this Agreement and the other Loan Documents by the Borrower and the Pledgor (as applicable); <u>provided</u> that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the foregoing provisions of this <u>Section 9.23</u> shall not constitute a waiver, release or discharge of the Borrower or Pledgor for any of the Indebtedness or Obligations of the Borrower or Pledgor under, or any terms, covenants, conditions or provisions of, this Agreement or any other Loan Document to which any of the foregoing are party, and the same shall continue until fully and paid, discharged, observed or performed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the foregoing provisions of this <u>Section 9.23</u> shall not limit or restrict the right of any Secured Party to name the Borrower, Pledgor or any other Person as defendant in any action or suit for a judicial foreclosure or for the exercise of any other remedy under or with respect to this Agreement, any of the Security Documents or any other Loan Document to which such Person is a party, or for injunction or specific performance, so long as no judgment in the nature of a deficiency judgment shall be enforced against any Non-Recourse Party out of any property other than the property of the Borrower, Pledgor, or the Collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the foregoing provisions of this <u>Section 9.23</u> shall not in any way limit, reduce, restrict or otherwise affect any right, power, privilege or remedy of the Secured Parties (or any permitted assignee or beneficiary thereof or successor thereto) with respect to, and each and every Person (including each and every Non-Recourse Party) shall remain fully liable to the extent that such Person would otherwise be liable for its own actions with respect to, any fraud, bad faith, gross negligence or willful misrepresentation, or willful misappropriation of revenues or any other earnings, rents, issues, profits or proceeds from or of the Borrower, the Pledgor, the Project or the Collateral that should or would have been paid as provided in the Loan Documents or paid or delivered to the Administrative Agent (or any assignee or beneficiary thereof or successor thereto) for any payment required under this Agreement or any other Loan Document; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;nothing contained herein shall limit the liability of: (x) any Person who is a party to any Loan Document, the Contingent Equity Contribution Agreement or any Security Document or (y) any Person rendering a legal opinion pursuant to <u>Section 4.1(g)</u> of this Agreement or otherwise, in each case under this

&nbsp;&nbsp;&nbsp;&nbsp;

------

clause (iv) relating solely to such liability of such Person as may arise under such referenced agreement, instrument or opinion.

The limitations on recourse set forth in this <u>Section 9.23</u> shall survive the Termination Date.

*[Remainder of Page Left Blank Intentionally]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly

executed and delivered by their proper and duly authorized officers as of the day and year first

above written.

---

| | | |
|:---|:---|:---|
| **CP2 LNG HOLDINGS, LLC** | **CP2 LNG HOLDINGS, LLC** | **CP2 LNG HOLDINGS, LLC** |
| By: | /s/ Jonathan W. Thayer | /s/ Jonathan W. Thayer |
|  | Name: | Jonathan W. Thayer |
|  | Title: | Chief Financial Officer |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **THE BANK OF NOVA SCOTIA,<br>HOUSTON BRANCH,**<br> as Administrative Agent | **THE BANK OF NOVA SCOTIA,<br>HOUSTON BRANCH,**<br> as Administrative Agent | **THE BANK OF NOVA SCOTIA,<br>HOUSTON BRANCH,**<br> as Administrative Agent |
| By: | /s/ Joe Lattanzi | /s/ Joe Lattanzi |
|  | Name: | Joe Lattanzi |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **BANCO BILBAO VIZCAYA<br>ARGENTARIA, S.A. NEW YORK<br>BRANCH**,**** <br> as Lender | **BANCO BILBAO VIZCAYA<br>ARGENTARIA, S.A. NEW YORK<br>BRANCH**,**** <br> as Lender | **BANCO BILBAO VIZCAYA<br>ARGENTARIA, S.A. NEW YORK<br>BRANCH**,**** <br> as Lender |
| By: | /s/ Miguel Pena | /s/ Miguel Pena |
|  | Name: | Miguel Pena |
|  | Title: | Managing Director |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ Erlantz Penalba Arce | /s/ Erlantz Penalba Arce |
|  | Name: | Erlantz Penalba Arce |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **BANCO SANTANDER, S.A., NEW<br>YORK BRANCH**,****<br> as Lender | **BANCO SANTANDER, S.A., NEW<br>YORK BRANCH**,****<br> as Lender | **BANCO SANTANDER, S.A., NEW<br>YORK BRANCH**,****<br> as Lender |
| By: | /s/ Daniel Kostman | /s/ Daniel Kostman |
|  | Name: | Daniel Kostman |
|  | Title: | Executive Director |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ Erika Wershoven | /s/ Erika Wershoven |
|  | Name: | Erika Wershoven |
|  | Title: | Executive Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **BANK OF AMERICA, N.A.**,****<br> as Lender | **BANK OF AMERICA, N.A.**,****<br> as Lender | **BANK OF AMERICA, N.A.**,****<br> as Lender |
| By: | /s/ Christopher Baethge | /s/ Christopher Baethge |
|  | Name: | Christopher Baethge |
|  | Title: | Vice President |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **BARCLAYS BANK PLC**,<br>as Lender | **BARCLAYS BANK PLC**,<br>as Lender | **BARCLAYS BANK PLC**,<br>as Lender |
| By: | /s/ James Edmonds | /s/ James Edmonds |
|  | Name: | James Edmonds |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **DEUTSCHE BANK AG, NEW<br>YORK BRANCH**,<br>as Lender | **DEUTSCHE BANK AG, NEW<br>YORK BRANCH**,<br>as Lender | **DEUTSCHE BANK AG, NEW<br>YORK BRANCH**,<br>as Lender |
| By: | /s/ Jeremy Eisman | /s/ Jeremy Eisman |
|  | Name: | Jeremy Eisman |
|  | Title: | Managing Director |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ Blake Yaralian | /s/ Blake Yaralian |
|  | Name: | Blake Yaralian |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **GOLDMAN SACHS BANK USA**,<br>as Lender | **GOLDMAN SACHS BANK USA**,<br>as Lender | **GOLDMAN SACHS BANK USA**,<br>as Lender |
| By: | /s/ Robert Ehudin | /s/ Robert Ehudin |
|  | Name: | Robert Ehudin |
|  | Title: | Authorized Signatory |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **ICBC STANDARD BANK PLC**,<br>as Lender | **ICBC STANDARD BANK PLC**,<br>as Lender | **ICBC STANDARD BANK PLC**,<br>as Lender |
| By: | /s/ D.L. Spurr | /s/ D.L. Spurr |
|  | Name: | D.L. Spurr |
|  | Title: | Authorised Signatory |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ Robert Christensen | /s/ Robert Christensen |
|  | Name: | Robert Christensen |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **ING CAPITAL LLC**,<br>as Lender | **ING CAPITAL LLC**,<br>as Lender | **ING CAPITAL LLC**,<br>as Lender |
| By: | /s/ Matthew Rosetti | /s/ Matthew Rosetti |
|  | Name: | Matthew Rosetti |
|  | Title: | Managing Director |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ William James | /s/ William James |
|  | Name: | William James |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **JPMORGAN CHASE BANK, N.A.**,****<br> as Lender | **JPMORGAN CHASE BANK, N.A.**,****<br> as Lender | **JPMORGAN CHASE BANK, N.A.**,****<br> as Lender |
| By: | /s/ Omar Valdez | /s/ Omar Valdez |
|  | Name: | Omar Valdez |
|  | Title: | Executive Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **MIZUHO BANK, LTD.**,****<br> as Lender | **MIZUHO BANK, LTD.**,****<br> as Lender | **MIZUHO BANK, LTD.**,****<br> as Lender |
| By: | /s/ Dominick D'Ascoli | /s/ Dominick D'Ascoli |
|  | Name: | Dominick D'Ascoli |
|  | Title: | Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **MUFG BANK, LTD.**,****<br> as Lender | **MUFG BANK, LTD.**,****<br> as Lender | **MUFG BANK, LTD.**,****<br> as Lender |
| By: | /s/ Chip Lewis | /s/ Chip Lewis |
|  | Name: | Chip Lewis |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **NATIONAL BANK OF CANADA**,****<br> as Lender | **NATIONAL BANK OF CANADA**,****<br> as Lender | **NATIONAL BANK OF CANADA**,****<br> as Lender |
| By: | /s/ Jason Huang | /s/ Jason Huang |
|  | Name: | Jason Huang |
|  | Title: | Authorized Signatory |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ John Hunt | /s/ John Hunt |
|  | Name: | John Hunt |
|  | Title: | Authorized Signatory |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **REGIONS BANK**,<br>as Lender | **REGIONS BANK**,<br>as Lender | **REGIONS BANK**,<br>as Lender |
| By: | /s/ Tedrick Tarver | /s/ Tedrick Tarver |
|  | Name: | Tedrick Tarver |
|  | Title: | Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **ROYAL BANK OF CANADA**,****<br> as Lender | **ROYAL BANK OF CANADA**,****<br> as Lender | **ROYAL BANK OF CANADA**,****<br> as Lender |
| By: | /s/ Don J. McKinnerney | /s/ Don J. McKinnerney |
|  | Name: | Don J. McKinnerney |
|  | Title: | Authorized Signatory |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **STANDARD CHARTERED BANK,<br>NEW YORK**,****<br> as Lender | **STANDARD CHARTERED BANK,<br>NEW YORK**,****<br> as Lender | **STANDARD CHARTERED BANK,<br>NEW YORK**,****<br> as Lender |
| By: | /s/ Anne Andrieux | /s/ Anne Andrieux |
|  | Name: | Anne Andrieux |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **SUMITOMO MITSUI BANKING<br>CORPORATION**,****<br> as Lender | **SUMITOMO MITSUI BANKING<br>CORPORATION**,****<br> as Lender | **SUMITOMO MITSUI BANKING<br>CORPORATION**,****<br> as Lender |
| By: | /s/ Juan Kreutz | /s/ Juan Kreutz |
|  | Name: | Juan Kreutz |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **THE BANK OF NOVA SCOTIA,<br>HOUSTON BRANCH**,****<br> as Lender | **THE BANK OF NOVA SCOTIA,<br>HOUSTON BRANCH**,****<br> as Lender | **THE BANK OF NOVA SCOTIA,<br>HOUSTON BRANCH**,****<br> as Lender |
| By: | /s/ Joe Lattanzi | /s/ Joe Lattanzi |
|  | Name: | Joe Lattanzi |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| **WELLS FARGO BANK, N.A.**,****<br> as Lender | **WELLS FARGO BANK, N.A.**,****<br> as Lender | **WELLS FARGO BANK, N.A.**,****<br> as Lender |
| By: | /s/ Nathan Starr | /s/ Nathan Starr |
|  | Name: | Nathan Starr |
|  | Title: | Managing Director |

---

*Signature Page<br>Credit Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;

------

**<u>SCHEDULE 1.1A</u>**

**<u>Commitments</u>**

---

| | | | |
|:---|:---|:---|:---|
| **Lender** | **Equity Bridge Commitment** | **Interest Reserve Commitment** | **Commitment** |
| Standard Chartered Bank, New York | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| The Bank of Nova Scotia, Houston Branch | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Bank of America, N.A. | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Barclays Bank PLC | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Banco Bilbao Vizcaya Argentaria, S.A. New York Branch | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Deutsche Bank AG, New York Branch | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Goldman Sachs Bank USA | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| ING Capital LLC | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| JPMorgan Chase Bank, N.A. | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Mizuho Bank, Ltd.  | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| MUFG Bank, Ltd. | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| National Bank of Canada | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Royal Bank of Canada | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Banco Santander, S.A., New York Branch | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Sumitomo Mitsui Banking Corp., NY | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Wells Fargo Bank, N.A. | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| ICBC Standard Bank Plc | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| Regions Bank | $[\*\*\*] | $[\*\*\*] | $[\*\*\*] |
| **Total Commitments** | **$[\*\*\*]** | **$[\*\*\*]** | **$3000000000.00** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

**<u>SCHEDULE 1.1B</u>**

**<u>Disqualified Lenders</u>**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

**<u>SCHEDULE 1.1C</u>**

**<u>Disqualified Advisor List</u>**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

------

**<u>SCHEDULE 3.8</u>**

**<u>Ownership of Property; Liens</u>**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

**<u>SCHEDULE 3.17</u>**

**<u>UCC Filing Jurisdictions</u>**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

**<u>SCHEDULE 4.1(e)</u>**

**<u>Closing Date Lien Searches</u>**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT A TO<br>CREDIT AGREEMENT

**[FORM OF] COMPLIANCE CERTIFICATE**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT B-1 TO<br>CREDIT AGREEMENT

**[FORM OF] CLOSING CERTIFICATE**

[Omitted]

B-1-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT B-2 TO<br>CREDIT AGREEMENT

**[FORM OF] SECRETARY'S CERTIFICATE**

[Omitted]

B-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT C TO<br>CREDIT AGREEMENT

**[FORM OF] ASSIGNMENT AND ACCEPTANCE AGREEMENT**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT D-1 TO<br>CREDIT AGREEMENT

**[FORM OF] EQUITY BRIDGE LOAN NOTE**

[Omitted]

D-1-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT D-2 TO<br>CREDIT AGREEMENT

**[FORM OF] INTEREST RESERVE LOAN NOTE**

[Omitted]

D-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT E-1 TO<br>CREDIT AGREEMENT

**[FORM OF] UNITED STATES TAX COMPLIANCE CERTIFICATE**

**(FOR NON-U.S. LENDERS THAT ARE NOT PARTNERSHIPS <br>FOR U.S. FEDERAL INCOME TAX PURPOSES)**

[Omitted]

E-1-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT E-2<br>TO CREDIT AGREEMENT

**[FORM OF] UNITED STATES TAX COMPLIANCE CERTIFICATE**

**(FOR NON-U.S. LENDERS THAT ARE PARTNERSHIPS <br>FOR U.S. FEDERAL INCOME TAX PURPOSES)**

[Omitted]

E-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT E-3 TO<br>CREDIT AGREEMENT

**[FORM OF] UNITED STATES TAX COMPLIANCE CERTIFICATE**

**(FOR NON-U.S. PARTICIPANTS THAT ARE NOT PARTNERSHIPS <br>FOR U.S. FEDERAL INCOME TAX PURPOSES)**

[Omitted]

E-3-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT E-4 TO<br>CREDIT AGREEMENT

**[FORM OF] UNITED STATES TAX COMPLIANCE CERTIFICATE**

**(FOR NON-U.S. PARTICIPANTS THAT ARE PARTNERSHIPS <br>FOR U.S. FEDERAL INCOME TAX PURPOSES)**

[Omitted]

E-4-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT F TO<br>CREDIT AGREEMENT

**[FORM OF] SOLVENCY CERTIFICATE** 

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT G-1 TO<br>CREDIT AGREEMENT

**[FORM OF] FUNDING NOTICE**

[Omitted]

G-1-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

&nbsp;&nbsp;&nbsp;&nbsp;

EXHIBIT G-2 TO<br>CREDIT AGREEMENT

**[FORM OF] CONVERSION/CONTINUATION NOTICE**

[Omitted]

G-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

&nbsp;&nbsp;&nbsp;&nbsp;

EXHIBIT H TO<br>CREDIT AGREEMENT

**[FORM OF] PAYOFF LETTER**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

EXHIBIT I TO<br>CREDIT AGREEMENT

**[FORM OF] VGPL CERTIFICATE**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 10.4

**Exhibit 10.4**

*Execution Version*

**Certain identified information has been omitted from this document because (i) it is not material and is the type that the Company customarily and actually treats as private or confidential, and/or (ii) if disclosure would constitute a clearly unwarranted invasion of personal privacy and has been marked with "[\*\*\*]" to indicate where omissions have been made.**

_________________________________<br>**CREDIT FACILITY AGREEMENT**<br> _______________________________________<br>

VENTURE GLOBAL CP2 LNG, LLC,<br>as **Borrower**,****<br> _______________________________________<br>VENTURE GLOBAL CP EXPRESS, LLC,

and

CP2 PROCUREMENT, LLC,<br>as **Guarantors**,****<br> _______________________________________<br>THE LENDERS PARTY HERETO FROM TIME TO TIME,<br>as **Lenders**,****

<br> THE ISSUING BANKS HERETO FROM TIME TO TIME,****<br>as **Issuing Banks**,

****<br> and<br>MUFG BANK, LTD.,<br>as **Credit Facility Agent**

and

solely for purposes of Section 3.06,

------

SUMITOMO MITSUI BANKING CORPORATION,

as **Collateral Agent**

BANCO SANTANDER, S.A., NEW YORK BRANCH and <br>ING CAPITAL LLC,

as **Initial Coordinating Lead Arrangers, Syndication Agents and Documentation Banks**,

BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH, <br>BARCLAYS BANK PLC, <br>CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, <br>GOLDMAN SACHS BANK USA, <br>INTESA SANPAOLO S.P.A, NEW YORK BRANCH, <br>JPMORGAN CHASE BANK, N.A., <br>LANDESBANK BADEN-WÜRTTEMBERG, NEW YORK BRANCH, <br>MIZUHO BANK, LTD., <br>MUFG BANK, LTD., <br>ROYAL BANK OF CANADA, <br>SUMITOMO MITSUI BANKING CORPORATION, <br>STANDARD CHARTERED BANK, and<br>TRUIST SECURITIES INC.,

as **Initial Coordinating Lead Arrangers**,

and

BANK OF AMERICA, N.A., <br>DEUTSCHE BANK AG, NEW YORK BRANCH, <br>NATIONAL BANK OF CANADA, <br>THE BANK OF NOVA SCOTIA, HOUSTON BRANCH, <br>WELLS FARGO SECURITIES, LLC, <br>BAYERISCHE LANDESBANK, NEW YORK BRANCH and <br>NORDDEUTSCHE LANDESBANK GIROZENTRALE, NEW YORK BRANCH,

as **Coordinating Lead Arrangers**<br> _______________________________________<br>Dated as of July 28, 2025

------

**TABLE OF CONTENTS**

Page

---

| | |
|:---|:---|
| [ARTICLE I<br>DEFINITIONS AND INTERPRETATION](#i6e1b241165914d8da7db89c10a017307) | [2](#i6e1b241165914d8da7db89c10a017307) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms](#id0fa61d2083e4e09a4d67fe309d2d9b8) | [2](#id0fa61d2083e4e09a4d67fe309d2d9b8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.02&nbsp;&nbsp;&nbsp;&nbsp;Principles of Interpretation](#i7388d5dc629648579cafffe538757362) | [2](#i7388d5dc629648579cafffe538757362) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.03&nbsp;&nbsp;&nbsp;&nbsp;UCC Terms](#i87cc99a4ee774210a20f3b3adc106ccb) | [2](#i87cc99a4ee774210a20f3b3adc106ccb) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.04&nbsp;&nbsp;&nbsp;&nbsp;Accounting and Financial Determinations](#i812e7f8022264c8d8c40d2711741d1ea) | [2](#i812e7f8022264c8d8c40d2711741d1ea) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.05&nbsp;&nbsp;&nbsp;&nbsp;Designations](#ie13a66481f434621adbe90239cd3753a) | [2](#ie13a66481f434621adbe90239cd3753a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.06&nbsp;&nbsp;&nbsp;&nbsp;Rates](#i834a167d09854787a2664f46d47f3f08) | [3](#i834a167d09854787a2664f46d47f3f08) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.07&nbsp;&nbsp;&nbsp;&nbsp;Divisions](#if160857baf8c47daba13c150b2e0890d) | [3](#if160857baf8c47daba13c150b2e0890d) |
| [ARTICLE II<br>COMMITMENTS AND ADVANCES](#i34e6f95a28a04b6abfbf6ad5bc5eb164) | [3](#i34e6f95a28a04b6abfbf6ad5bc5eb164) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;Term Loans](#i1798688759004c9bb64cbeffce4ce7ee) | [3](#i1798688759004c9bb64cbeffce4ce7ee) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;Term Loan Availability](#i80900d68fc7a47cd9cb618a9172b0699) | [4](#i80900d68fc7a47cd9cb618a9172b0699) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;Working Capital Loans.](#i06dfc83b57dc48b4b07297205a449fee) | [5](#i06dfc83b57dc48b4b07297205a449fee) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;Working Capital Loan Availability.](#i50021957d3424452991eefc6485f6635) | [5](#i50021957d3424452991eefc6485f6635) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.05&nbsp;&nbsp;&nbsp;&nbsp;Procedures for Requesting Advances](#ib99857921ad54bba8b491abb1e021f04) | [6](#ib99857921ad54bba8b491abb1e021f04) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.06&nbsp;&nbsp;&nbsp;&nbsp;Funding](#ie2abfc255d2f486daa0835df68360094) | [8](#ie2abfc255d2f486daa0835df68360094) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.07&nbsp;&nbsp;&nbsp;&nbsp;Termination or Reduction of Commitments](#i327fcf5bab844481a649d8f5804020a4) | [10](#i327fcf5bab844481a649d8f5804020a4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.08&nbsp;&nbsp;&nbsp;&nbsp;Incremental Commitments.](#i870e454d4810498da656354a3df14a62) | [12](#i870e454d4810498da656354a3df14a62) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.09&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds.](#idda81e9a9113473daf6fc7bb2b6179f6) | [13](#idda81e9a9113473daf6fc7bb2b6179f6) |
| [ARTICLE III<br>LETTERS OF CREDIT](#i3f36d4c6460d4d928c3b4bc681daa756) | [14](#i3f36d4c6460d4d928c3b4bc681daa756) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;Letters of Credit.](#i3f2be3df90f948d1bae623dcfcf23794) | [14](#i3f2be3df90f948d1bae623dcfcf23794) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;Reimbursement to Issuing Banks.](#i2d718d0143e74b2d817e0a577e745dc5) | [18](#i2d718d0143e74b2d817e0a577e745dc5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.03&nbsp;&nbsp;&nbsp;&nbsp;Obligations Absolute.](#i6df9a1589a8546f9afb6cf5d5690c29b) | [20](#i6df9a1589a8546f9afb6cf5d5690c29b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.04&nbsp;&nbsp;&nbsp;&nbsp;Liability of the Issuing Banks and the Working Capital Lenders.](#i1d96388f478c426cbca4e3f2355c0356) | [21](#i1d96388f478c426cbca4e3f2355c0356) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.05&nbsp;&nbsp;&nbsp;&nbsp;Resignation as an Issuing Bank.](#icff997c71a26416bade834c4b1fc80fd) | [21](#icff997c71a26416bade834c4b1fc80fd) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.06&nbsp;&nbsp;&nbsp;&nbsp;Non-Fronted Letters of Credit.](#ib0fe6aec485c41c685015e00bf1cb104) | [22](#ib0fe6aec485c41c685015e00bf1cb104) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.07&nbsp;&nbsp;&nbsp;&nbsp;Reinstatement of Letters of Credit](#ia4ed065a986b4811ba4aefec10e2fa99) | [22](#ia4ed065a986b4811ba4aefec10e2fa99) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.08&nbsp;&nbsp;&nbsp;&nbsp;Existing Letter of Credit](#i619e87a713dd4c468f5fde883eb440cf) | [22](#i619e87a713dd4c468f5fde883eb440cf) |
| [ARTICLE IV<br>REPAYMENTS, PREPAYMENTS, INTEREST AND FEES](#i2af8030d52684277b8a469b78d94f06f) | [22](#i2af8030d52684277b8a469b78d94f06f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;Repayment of Term Loan Advances](#id9b5eec0532849f4b68cd6851bc575b1) | [22](#id9b5eec0532849f4b68cd6851bc575b1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.02&nbsp;&nbsp;&nbsp;&nbsp;Repayment of LC Loans.](#ia8a2868b0706427da27b1ea814991220) | [23](#ia8a2868b0706427da27b1ea814991220) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.03&nbsp;&nbsp;&nbsp;&nbsp;Repayment of Working Capital Advances.](#i9307c0badcb4450aad8e13c10385d3d8) | [23](#i9307c0badcb4450aad8e13c10385d3d8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.04&nbsp;&nbsp;&nbsp;&nbsp;Interest Payment Dates](#ie137822085f94daebea2f904ec85a806) | [24](#ie137822085f94daebea2f904ec85a806) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.05&nbsp;&nbsp;&nbsp;&nbsp;Interest Rates](#i438a76e2e9b741f8a91ef99b56c8eada) | [24](#i438a76e2e9b741f8a91ef99b56c8eada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.06&nbsp;&nbsp;&nbsp;&nbsp;Conversion Options](#ib6ce9d17709e4b1db4729686cac5cecb) | [25](#ib6ce9d17709e4b1db4729686cac5cecb) |

---

i

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.07&nbsp;&nbsp;&nbsp;&nbsp;Post-Maturity Interest Rates; Default Interest Rates](#ia8af6f545230427ea3c4caa905ba1bfd) | [26](#ia8af6f545230427ea3c4caa905ba1bfd) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.08&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Determination](#iffff78e731cf4aa18edda56c1eb4a681) | [26](#iffff78e731cf4aa18edda56c1eb4a681) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.09&nbsp;&nbsp;&nbsp;&nbsp;Computation of Interest and Fees](#i9b944cda6b5147118011319f7488d3bf) | [26](#i9b944cda6b5147118011319f7488d3bf) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.10&nbsp;&nbsp;&nbsp;&nbsp;Terms of All Prepayments](#ied1918b1ac184bb49cb8a21d5878a998) | [27](#ied1918b1ac184bb49cb8a21d5878a998) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.11&nbsp;&nbsp;&nbsp;&nbsp;Voluntary Prepayment](#i5e227fef683846558d9153f24f57da16) | [27](#i5e227fef683846558d9153f24f57da16) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.12&nbsp;&nbsp;&nbsp;&nbsp;Mandatory Prepayment](#i59389e3f3ff0407590530f0697766fe4) | [28](#i59389e3f3ff0407590530f0697766fe4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.13&nbsp;&nbsp;&nbsp;&nbsp;Time and Place of Payments](#i583488eb03ae4c11a38c8295c94f75d9) | [29](#i583488eb03ae4c11a38c8295c94f75d9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.14&nbsp;&nbsp;&nbsp;&nbsp;Advances and Payments Generally](#i16d03e39b3ee4bb78375c7cbafa767b3) | [29](#i16d03e39b3ee4bb78375c7cbafa767b3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.15&nbsp;&nbsp;&nbsp;&nbsp;Fees](#i82745cff2cb34c5aa7740f82243a505a) | [30](#i82745cff2cb34c5aa7740f82243a505a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.16&nbsp;&nbsp;&nbsp;&nbsp;Pro Rata Treatment](#i7364b917bc7a4d258c3692cd1fbb9f4f) | [31](#i7364b917bc7a4d258c3692cd1fbb9f4f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.17&nbsp;&nbsp;&nbsp;&nbsp;Sharing of Payments](#ie5186baa6799494096f642be238c795f) | [32](#ie5186baa6799494096f642be238c795f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.18&nbsp;&nbsp;&nbsp;&nbsp;Defaulting Lenders](#i2b052870bb5c48f5984faf433aa96e5f) | [33](#i2b052870bb5c48f5984faf433aa96e5f) |
| [ARTICLE V<br>SOFR AND TAX PROVISIONS](#i3e6accce4d434ed68c63256815735099) | [35](#i3e6accce4d434ed68c63256815735099) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;Illegality](#ie532db68055a4c359500713f96259dce) | [35](#ie532db68055a4c359500713f96259dce) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;Inability to Determine Applicable Interest Rate](#i89133abfacf74ae181055ec8bac67ede) | [35](#i89133abfacf74ae181055ec8bac67ede) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;Increased Costs](#idb80726fa0b3409eac708871054e1655) | [36](#idb80726fa0b3409eac708871054e1655) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;Obligation to Mitigate](#i72ba5bc6641f4de3905a5884eacc9593) | [37](#i72ba5bc6641f4de3905a5884eacc9593) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.05&nbsp;&nbsp;&nbsp;&nbsp;Funding Losses](#ib50fbb0a029544d3b3cf913cd422e2ed) | [38](#ib50fbb0a029544d3b3cf913cd422e2ed) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.06&nbsp;&nbsp;&nbsp;&nbsp;Taxes](#ia8456d12724944368f8115a08de11d74) | [38](#ia8456d12724944368f8115a08de11d74) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.07&nbsp;&nbsp;&nbsp;&nbsp;Replacement Benchmark Setting](#i785814ef7d254ab2b2543f89d07ab449) | [38](#i785814ef7d254ab2b2543f89d07ab449) |
| [ARTICLE VI<br>REPRESENTATIONS AND WARRANTIES](#i09bc7bb47d0e4dec8b8c35a4e9d71b9b) | [40](#i09bc7bb47d0e4dec8b8c35a4e9d71b9b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.01&nbsp;&nbsp;&nbsp;&nbsp;Incorporation of Common Terms Agreement](#ib6843a09e59847d8af0cf594953ae49b) | [40](#ib6843a09e59847d8af0cf594953ae49b) |
| [ARTICLE VII<br>CONDITIONS PRECEDENT](#ic655557eb23f440f818d6066a06a0c04) | [40](#ic655557eb23f440f818d6066a06a0c04) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.01&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Closing](#ic464ec20b5c14b6e9bbe555a69ee8108) | [40](#ic464ec20b5c14b6e9bbe555a69ee8108) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.02&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Each Term Loan Advance](#ide7353c94d78491597a27fd8bf5e2792) | [40](#ide7353c94d78491597a27fd8bf5e2792) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.03&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Each Working Capital Advance.](#i3c2fdb455515492e920d5b98712f0399) | [40](#i3c2fdb455515492e920d5b98712f0399) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.04&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Occurrence of the Project Phase 1 Completion Date.](#ifb388cef705e42979e8339bd40651587) | [41](#ifb388cef705e42979e8339bd40651587) |
| [ARTICLE VIII<br>COVENANTS](#i9a427bf4eef34b8ca4530be051c1f22a) | [41](#i9a427bf4eef34b8ca4530be051c1f22a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.01&nbsp;&nbsp;&nbsp;&nbsp;Covenants](#if6cc9769b64c4f20949e9703e13d6802) | [41](#if6cc9769b64c4f20949e9703e13d6802) |
| [ARTICLE IX<br>DEFAULT AND ENFORCEMENT](#id544ee3a2f76490caa4b1fd665bce13c) | [41](#id544ee3a2f76490caa4b1fd665bce13c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.01&nbsp;&nbsp;&nbsp;&nbsp;Events of Default](#ib8eac68a54144975b60cbfd701af84e0) | [41](#ib8eac68a54144975b60cbfd701af84e0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.02&nbsp;&nbsp;&nbsp;&nbsp;Acceleration Upon Bankruptcy](#i69c2d6eba8cb4f889a2b90e574d35267) | [41](#i69c2d6eba8cb4f889a2b90e574d35267) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.03&nbsp;&nbsp;&nbsp;&nbsp;Action Upon Event of Default](#ie926a44604a940f8840297a88855f87b) | [42](#ie926a44604a940f8840297a88855f87b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.05&nbsp;&nbsp;&nbsp;&nbsp;Application of Proceeds](#i7c659ecff9af4909bf49436d11963ce9) | [43](#i7c659ecff9af4909bf49436d11963ce9) |

---

ii

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| [ARTICLE X<br>THE CREDIT FACILITY AGENT](#i64309938e8ca423f9cb0b61b82c49b87) | [43](#i64309938e8ca423f9cb0b61b82c49b87) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.01&nbsp;&nbsp;&nbsp;&nbsp;Appointment and Authority](#ic846279eeb04400880a601530e1db1bf) | [43](#ic846279eeb04400880a601530e1db1bf) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.02&nbsp;&nbsp;&nbsp;&nbsp;Rights as a Facility Lender or Hedging Bank](#id8ea9085e20a47c9b8a0960d77789b6e) | [45](#id8ea9085e20a47c9b8a0960d77789b6e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.03&nbsp;&nbsp;&nbsp;&nbsp;Exculpatory Provisions](#i79359cbf682f456ea2d393a4095b1365) | [45](#i79359cbf682f456ea2d393a4095b1365) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.04&nbsp;&nbsp;&nbsp;&nbsp;Reliance by Credit Facility Agent](#ifd784d1801bd4039b6dd9e0e39c78315) | [46](#ifd784d1801bd4039b6dd9e0e39c78315) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.05&nbsp;&nbsp;&nbsp;&nbsp;Delegation of Duties](#i694b858cee16427d97d6c95629491282) | [47](#i694b858cee16427d97d6c95629491282) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.06&nbsp;&nbsp;&nbsp;&nbsp;Indemnification by the Lenders](#i5ef542878a764732b32aee80404d6e52) | [48](#i5ef542878a764732b32aee80404d6e52) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.07&nbsp;&nbsp;&nbsp;&nbsp;Resignation or Removal of Credit Facility Agent](#i3269cc48515a409ba32e8d8767b8f70b) | [48](#i3269cc48515a409ba32e8d8767b8f70b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.08&nbsp;&nbsp;&nbsp;&nbsp;No Amendment to Duties of Credit Facility Agent Without Consent](#i23c55be80aab4ad19b71aa7bab515dca) | [50](#i23c55be80aab4ad19b71aa7bab515dca) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.09&nbsp;&nbsp;&nbsp;&nbsp;Non-Reliance on Credit Facility Agent, Lenders and Issuing Banks](#i39ee332377c2402398224ed51a55133a) | [50](#i39ee332377c2402398224ed51a55133a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.10&nbsp;&nbsp;&nbsp;&nbsp;No Arranger Duties](#i64bb348904bb46038ee0cfabefdcfe62) | [50](#i64bb348904bb46038ee0cfabefdcfe62) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.11&nbsp;&nbsp;&nbsp;&nbsp;Copies](#i59283dfb7855428ebe26202a192fdeef) | [50](#i59283dfb7855428ebe26202a192fdeef) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.12&nbsp;&nbsp;&nbsp;&nbsp;General Provisions as to Payments](#ib79ba4120ef340e998cf17b1e2cb0fe1) | [51](#ib79ba4120ef340e998cf17b1e2cb0fe1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.13&nbsp;&nbsp;&nbsp;&nbsp;Agreement to Comply with Finance Documents](#i5c53d9ee0a144487968c97c016ccc6d2) | [51](#i5c53d9ee0a144487968c97c016ccc6d2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.14&nbsp;&nbsp;&nbsp;&nbsp;Certain ERISA Matters](#ibf6d2881d9a64f04bb6a3a4929b3977a) | [51](#ibf6d2881d9a64f04bb6a3a4929b3977a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.15&nbsp;&nbsp;&nbsp;&nbsp;Erroneous Payments](#i51c00773f8874e779a5240c681a5376d) | [53](#i51c00773f8874e779a5240c681a5376d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.16&nbsp;&nbsp;&nbsp;&nbsp;Certain Representations and Warranties of the Lenders and Issuing Banks.](#icec4bfec93054e6b8035a5b4ed96a809) | [56](#icec4bfec93054e6b8035a5b4ed96a809) |
| [ARTICLE XI<br>MISCELLANEOUS PROVISIONS](#ifdcdb4bae26444b3a8930acf118a7ae5) | [57](#ifdcdb4bae26444b3a8930acf118a7ae5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.01&nbsp;&nbsp;&nbsp;&nbsp;Decisions; Amendments, Etc.](#i5e6d8db0578d4422bda8fad7086c0a7f) | [57](#i5e6d8db0578d4422bda8fad7086c0a7f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.02&nbsp;&nbsp;&nbsp;&nbsp;Entire Agreement](#i8bb02070060c41d2974056b94534a5ba) | [61](#i8bb02070060c41d2974056b94534a5ba) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.03&nbsp;&nbsp;&nbsp;&nbsp;Applicable Government Rule; Jurisdiction; Etc.](#i49cc53b602854ed297bf391ef4777ed0) | [61](#i49cc53b602854ed297bf391ef4777ed0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.04&nbsp;&nbsp;&nbsp;&nbsp;Assignments](#i06a17b1d15154069a8e0dccd1c93d218) | [61](#i06a17b1d15154069a8e0dccd1c93d218) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.05&nbsp;&nbsp;&nbsp;&nbsp;Benefits of Agreement](#ic074c8a127064ca69c06e1874d9f732f) | [67](#ic074c8a127064ca69c06e1874d9f732f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.06&nbsp;&nbsp;&nbsp;&nbsp;Counterparts; Effectiveness](#ie7ef3e5be18c4080a50906c7ab4ecad6) | [68](#ie7ef3e5be18c4080a50906c7ab4ecad6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.07&nbsp;&nbsp;&nbsp;&nbsp;Indemnification by the Obligors](#i26d0c0fd7a494ca5aa6d07612a88c3a0) | [68](#i26d0c0fd7a494ca5aa6d07612a88c3a0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.08&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Limitation](#id00a5b8d25a34290932fe72053a68007) | [69](#id00a5b8d25a34290932fe72053a68007) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.09&nbsp;&nbsp;&nbsp;&nbsp;No Waiver; Cumulative Remedies](#i349458674f5c42b895315575df717913) | [69](#i349458674f5c42b895315575df717913) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.10&nbsp;&nbsp;&nbsp;&nbsp;Notices and Other Communications](#iaf717ca6a10b4797bc1788b39173aa8a) | [69](#iaf717ca6a10b4797bc1788b39173aa8a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.11&nbsp;&nbsp;&nbsp;&nbsp;USA Patriot Act Notice](#i5b1ccdccba3742ec9daa86e4852a6ef1) | [70](#i5b1ccdccba3742ec9daa86e4852a6ef1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.12&nbsp;&nbsp;&nbsp;&nbsp;Payments Set Aside](#i09122e9b355448a287a43509bdc2c34f) | [70](#i09122e9b355448a287a43509bdc2c34f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.13&nbsp;&nbsp;&nbsp;&nbsp;Right of Set-Off](#ibdf9b747021d4d60b3c486445a35487b) | [71](#ibdf9b747021d4d60b3c486445a35487b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.14&nbsp;&nbsp;&nbsp;&nbsp;Severability](#i930b68dd1b7448be93531b8c6ab2f484) | [71](#i930b68dd1b7448be93531b8c6ab2f484) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.15&nbsp;&nbsp;&nbsp;&nbsp;Survival](#i3102557453034fc69066a71c98483af7) | [71](#i3102557453034fc69066a71c98483af7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.16&nbsp;&nbsp;&nbsp;&nbsp;Treatment of Certain Information; Confidentiality](#i3f5bd6fe11704bf196d29ad99acb2df7) | [71](#i3f5bd6fe11704bf196d29ad99acb2df7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.17&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Consequential Damages, Etc.](#ie0aac1d42ec6405cb026cecc6d79030f) | [72](#ie0aac1d42ec6405cb026cecc6d79030f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.18&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Litigation Payments](#idd8a1db981f846abb44a096eba0bab6a) | [72](#idd8a1db981f846abb44a096eba0bab6a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.19&nbsp;&nbsp;&nbsp;&nbsp;Reinstatement](#i48961e2ee679477c844660c9eb35bbac) | [72](#i48961e2ee679477c844660c9eb35bbac) |

---

iii

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.20&nbsp;&nbsp;&nbsp;&nbsp;No Recourse](#idc713bd6e1334a10b2e0ad2067f6df05) | [72](#idc713bd6e1334a10b2e0ad2067f6df05) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.21&nbsp;&nbsp;&nbsp;&nbsp;Intercreditor Agreement](#ib600f078661d4ee8b08a20b39903f95a) | [72](#ib600f078661d4ee8b08a20b39903f95a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.22&nbsp;&nbsp;&nbsp;&nbsp;Termination](#if3330ca0f36d4fb692c01fba7bb3d1d1) | [73](#if3330ca0f36d4fb692c01fba7bb3d1d1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.23&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement and Consent to Bail-In of Affected Financial Institutions](#ifc771962ef894d1dbe800550343ce1a7) | [73](#ifc771962ef894d1dbe800550343ce1a7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.24&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgment Regarding any Supported QFCs](#i944db372fe7049248311430a10de11aa) | [73](#i944db372fe7049248311430a10de11aa) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.25&nbsp;&nbsp;&nbsp;&nbsp;Data Protection; Information Exchange](#i1306877cb76444e687dee01b3b043d6f) | [74](#i1306877cb76444e687dee01b3b043d6f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 11.26&nbsp;&nbsp;&nbsp;&nbsp;Amendment to Commitment Letter](#ia8d74f6247ad4827bf6dfae01e47cc4f) | [75](#ia8d74f6247ad4827bf6dfae01e47cc4f) |

---

**SCHEDULES**

Schedule I&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;Lenders, Commitments

Schedule II&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;Issuing Bank Limits<br>Schedule III&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;Amortization Schedule<br>Schedule IV&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;Credit Facility Agent Account Details

Schedule V&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;Existing Letter of Credit

**EXHIBITS**

Exhibit A&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;Definitions<br>Exhibit B-1&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;Form of Term Loan Note

Exhibit B-2&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;Form of Working Capital Note

Exhibit C&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]

Exhibit D&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;Form of Interest Period Notice

Exhibit E&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;Form of Lender Assignment Agreement

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**<u>CREDIT FACILITY AGREEMENT</u>**

This **CREDIT FACILITY AGREEMENT**, dated as of July 28, 2025 (the "*Credit Facility Agreement*" or this "*Agreement*"), is made among:

**VENTURE GLOBAL CP2 LNG, LLC**, a limited liability company organized under the laws of the State of Delaware (the "*Borrower*"),

**VENTURE GLOBAL CP EXPRESS, LLC**, a limited liability company organized under the laws of the State of Delaware (the "*Pipeline Company*"),

**CP2 PROCUREMENT, LLC**, a limited liability company organized under the laws of the State of Delaware (the "*Procurement Company*" and, together with the Pipeline Company, the "*Guarantors*" and each a "*Guarantor*"),

**MUFG BANK, LTD.**, in its capacity as administrative agent for the Lenders and Issuing Banks hereunder (and, together with each other Person that may, from time to time, be appointed as successor Credit Facility Agent in accordance with <u>Section 10.07</u> (*Resignation or Removal of Credit Facility Agent*), the "*Credit Facility Agent*"),

Solely for purposes of <u>Section 3.06</u> (*Non-Fronted Letters of Credit*), **SUMITOMO MITSUI BANKING CORPORATION**, as the Collateral Agent (the "*Collateral Agent*"),

Each of the Issuing Banks party hereto from time to time, and

Each of the Lenders party hereto from time to time.

WHEREAS, the Borrower intends to engage in the Development;

WHEREAS, the Borrower has requested that (i) the Working Capital Lenders and the Issuing Banks establish a working capital credit facility in order to provide loans and letters of credit which are to be used by, or otherwise be issued for the account of, the Obligors, as set forth herein and in the other Finance Documents (the "*Working Capital Facility*"), and (ii) the Term Lenders establish a credit facility in order to provide funds which are to be used to partially finance the Development through the payment of Project Costs and otherwise, as set forth herein and in the other Finance Documents (the "*Term Loan Facility*");

WHEREAS, pursuant to that certain Assignment of Intercompany Loan Agreement, dated as of the date hereof, by and between the Borrower, the Guarantors, the Sponsor and the Credit Facility Agent, the Sponsor has assigned to the Credit Facility Agent all of its right, title and interest in and to that certain Intercompany Loan Agreement, dated as of December 28, 2023, by and between the Sponsor, as lender, and the Borrower, as Borrower, as amended by that certain First Amendment to the Intercompany Loan Agreement, dated as of December 11, 2024 (the "*Intercompany Loan Agreement*"), and the loans to the Borrower made thereunder in the principal amount of up to $150,000,000; and

&nbsp;&nbsp;&nbsp;&nbsp;

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WHEREAS, the Borrower, the Guarantors, the Credit Facility Agent, Working Capital Lenders, the Issuing Banks, the Term Lenders and, solely for purposes of <u>Section 3.06</u> (*Non-Fronted Letters of Credit*), the Collateral Agent, desire to amend and restate the Intercompany Loan Agreement to make such credit facilities available upon and subject to the terms and conditions hereinafter set forth.

NOW THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto hereby amend and restate the Intercompany Loan Agreement in its entirety and agree as follows:

ARTICLE I<br>DEFINITIONS AND INTERPRETATION

Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. Unless otherwise defined in <u>Exhibit A</u>, capitalized terms used in this Agreement (including the preamble hereto) shall have the meanings provided in Section 1.3 (*Definitions*) of Schedule A (*Common Definitions and Rules of Interpretation*) of the Common Terms Agreement.

Section 1.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Principles of Interpretation</u>. Unless otherwise provided herein, this Agreement shall be governed by the principles of interpretation provided in Section 1.2 (*Interpretation*) of Schedule A (*Common Definitions and Rules of Interpretation*) of the Common Terms Agreement, *mutatis mutandis*.

Section 1.03&nbsp;&nbsp;&nbsp;&nbsp;<u>UCC Terms</u>. Unless otherwise defined herein or in Schedule A (*Common Definitions and Rules of Interpretation*) of the Common Terms Agreement, terms used herein that are defined in the UCC shall have the respective meanings given to those terms in the UCC.

Section 1.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Accounting and Financial Determinations</u>. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; *provided* that, if the Borrower notifies the Intercreditor Agent and the Credit Facility Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Closing Date in GAAP or in the application thereof on the operation of, or calculation of compliance with, such provision so as to preserve the original intent thereof in light of such change in GAAP (or if the Intercreditor Agent and Credit Facility Agent, as the case may be, notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such provision has been amended in accordance herewith.

Section 1.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Designations</u>. This Agreement is a Facility Agreement and a Senior Debt Instrument, the Term Lenders, Working Capital Lenders and Issuing Banks in this Agreement are Senior Creditors and the Credit Facility Agent is the Senior Creditor Group Representative of

&nbsp;&nbsp;&nbsp;&nbsp;

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the Term Lenders, the Working Capital Lenders and the Issuing Banks, in each case under the Finance Documents.

Section 1.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Rates</u>. The Credit Facility Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (a) the continuation of, administration of, submission of, calculation of or any other matter related to the Base Rate, the Term SOFR Reference Rate or Term SOFR, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, the Base Rate, the Term SOFR Reference Rate, Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or composition of any Conforming Changes. The Credit Facility Agent and its affiliates or other related entities may engage in transactions that affect the calculation of the Base Rate, the Term SOFR Reference Rate, Term SOFR, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Credit Facility Agent may select information sources or services in its reasonable discretion to ascertain the Base Rate, the Term SOFR Reference Rate, Term SOFR or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.

Section 1.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Divisions</u>. For all purposes under the Finance Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction's laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

ARTICLE II<br>COMMITMENTS AND ADVANCES

On the terms, subject to the conditions and relying upon the representations and warranties herein set forth:

Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Term Loans</u>. (a) Each Term Lender, severally and not jointly, shall make Term Loans to the Borrower: in an aggregate principal amount not in excess of the Term Loan Commitments of such Term Lender, if any, from time to time during the Term Loan Availability Period but not more frequently than as permitted under <u>Section 2.05</u> (*Procedures for Requesting Advances*) for use in accordance with <u>Section 2.09(a)(i)</u> (*Use of Proceeds*); *provided* that, after

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giving effect to the making of any Term Loans, the aggregate outstanding principal amount of all Term Loans shall not exceed the Aggregate Term Loan Commitments. The aggregate amount of the Term Loan Commitments as of the Closing Date is $11,250,000,000.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Term Loan Advance shall be in an amount specified in the relevant Disbursement Request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Proceeds of the Term Loans shall be deposited into the Construction Account in accordance with Section 4.5(a) (*Deposits and Withdrawals – Disbursements of Senior Debt*) of the Common Security and Account Agreement. The Obligors shall not request or apply any portion of any Term Loan other than in accordance with this <u>Section 2.01</u> (*Term Loans*), and <u>Sections 2.02</u> (*Term Loan Availability*) and <u>2.09</u> (*Use of Proceeds*) of this Agreement and Sections 2.3 (*Loan Disbursement and Letter of Credit Issuance Procedures*), 2.4 (*Pro Rata Advances*), 2.6 (*Currency*) and 12.1 (*Use of Proceeds*) of the Common Terms Agreement. Neither the Credit Facility Agent nor the Term Lenders are under any obligation hereunder to inquire into or verify the application of any Term Loan but this does not affect or limit the Obligors' obligations hereunder or under the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Term Loans that are repaid or prepaid may not be reborrowed.

Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Term Loan Availability</u>. (a) Subject to the terms and conditions set forth in this Agreement and the Common Terms Agreement, each Term Lender severally, and not jointly or jointly and severally, agrees to advance to the Borrower its pro rata share of such Term Lender's Term Loan Commitment as the Borrower may request under this <u>Section 2.02</u> (*Term Loan Availability*) and the applicable Disbursement Request (each such Advance when made, individually, a "*Term Loan*" and, collectively, the "*Term Loans*"), in an aggregate principal amount not to exceed such Term Lender's Term Loan Commitment, from time to time during the period commencing on the Closing Date and ending on the earliest of (such period, the "*Term Loan Availability Period*"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 LNG Facility Date Certain;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Project Phase 1 Completion Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the date the Term Loan Commitments are fully utilized or of any cancellation or termination of all of the remaining Term Loan Commitments pursuant to Section 3.8 (Reductions and Cancellations of Facility Debt Commitments) of the Common Terms Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the date the Required Lenders terminate their Commitments upon the occurrence and during the Continuance of a Loan Facility Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 7.01</u> (*Conditions to Closing*) (which incorporates by reference Section 4.1 (*Conditions to Closing Date and Initial Advance*) of the Common Terms Agreement), <u>Section 7.02</u> (*Conditions to Each Term Loan Advance*) (which incorporates by reference Section 4.2 (*Conditions to Each Term Loan Advance*) of the Common Terms

&nbsp;&nbsp;&nbsp;&nbsp;

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Agreement), Section 2.2 (*Sequence of Advances of Senior Debt*) of the Common Terms Agreement, Section 2.4 (*Pro Rata Advances*) of the Common Terms Agreement and the applicable conditions of Article 4 (*Conditions Precedent*) of the Common Terms Agreement and <u>Section 2.02(a)</u> (*Term Loan Availability*) of this Agreement, the Borrower shall be entitled to draw down all or a portion of the unused Term Loan Commitments before or on the final date of the Term Loan Availability Period for the purposes set forth in Section 12.1 (*Use of Proceeds*) of the Common Terms Agreement and <u>Section 2.09</u> (*Use of Proceeds*) of this Agreement.

Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Working Capital Loans.</u> (a) Each Working Capital Lender, severally and not jointly, shall make Working Capital Loans to the Borrower in an aggregate principal amount not in excess of its Working Capital Commitment from time to time during the Working Capital Loan Availability Period; *provided* that, after giving effect to the making of any Working Capital Loans, (i) the aggregate Working Capital Commitment Exposure for all Working Capital Lenders shall not exceed the Aggregate Working Capital Commitments and (ii) no Working Capital Lender shall be required to make any Working Capital Loan if such Working Capital Lender's Working Capital Commitment Exposure would exceed its Working Capital Commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Working Capital Advance shall be in an amount specified in the relevant Disbursement Request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Proceeds of the Working Capital Loans shall be deposited or applied in accordance with Section 4.5(a) (*Deposits and Withdrawals – Disbursements of Senior Debt*) of the Common Security and Account Agreement. The Obligors shall not request or apply any portion of any Working Capital Loan other than in accordance with this <u>Section 2.03</u> (*Working Capital Loans*), <u>Sections 2.04</u> (*Working Capital Loan Availability*) and <u>2.09</u> (*Use of Proceeds*) of this Agreement and Sections 2.3 (*Loan Disbursement and Letter of Credit Issuance Procedures*) and 2.6 (*Currency*) of the Common Terms Agreement. Neither the Credit Facility Agent nor the Working Capital Lenders are under any obligation hereunder to inquire into or verify the application of any Working Capital Loan but this does not affect or limit any Obligor's obligations hereunder or under the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Working Capital Loans repaid or prepaid, except in accordance with Sections <u>4.12(b)(ii)</u>, <u>(iii)</u> and <u>(iv)</u> (*Mandatory Prepayment*), may be re-borrowed at any time and from time to time up to but excluding the Working Capital Loan Termination Date. Each Working Capital Lender's Working Capital Commitment shall expire on the Working Capital Loan Termination Date and all other amounts owed hereunder with respect to Working Capital Loans and the Working Capital Commitments shall be paid in full no later than such date.

Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Working Capital Loan Availability.</u>(a)&nbsp;&nbsp;&nbsp;&nbsp; (a) Subject to the terms and conditions set forth in this Agreement and the Common Terms Agreement, each Working Capital Lender severally, and not jointly or jointly and severally, agrees to make Advances to the Borrower in the amount of its Commitment Percentage of the amount the Borrower may request, in accordance with this <u>Section 2.04</u> (*Working Capital Loan Availability*) and the applicable Disbursement Request (each such Advance, when made, individually, a "*Working Capital Loan*" and, collectively, the "*Working Capital Loans*"), in an aggregate principal amount not to exceed

&nbsp;&nbsp;&nbsp;&nbsp;

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such Working Capital Lender's unused Working Capital Commitment such that its Working Capital Commitment Exposure does not exceed its Working Capital Commitment after giving effect to such Working Capital Loan, from time to time during the period commencing on the Closing Date and, in each case, ending on the earliest to occur of the following dates (the "*Working Capital Loan Termination Date*") (such period, the "*Working Capital Loan Availability Period*"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Final Maturity Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the date of any cancellation or termination of all of the remaining Working Capital Commitments pursuant to <u>Section 2.07</u> (*Termination or Reduction of Commitments*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the date the Working Capital Lenders terminate their Working Capital Commitments upon the occurrence and during the Continuance of a Working Capital Facility Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the conditions of <u>Section 2.03</u> (*Working Capital Loans*), <u>Section 7.01</u> (*Conditions to Closing*) (which incorporates by reference Section 4.1 (*Conditions to Closing Date and Initial Advance*) of the Common Terms Agreement) and <u>Section 7.03</u> (*Conditions to Each Working Capital Advance*) of this Agreement (which incorporates by reference Section 4.3 (*Conditions to Each Advance under the Working Capital Facility*) of the Common Terms Agreement), and this <u>Section 2.04</u> (*Working Capital Loan Availability*), the Borrower shall be entitled to draw all or a portion of the unused Working Capital Commitments before or on the final date of the Working Capital Loan Availability Period for the purposes set forth in Section 12.1 (*Use of Proceeds*) of the Common Terms Agreement and <u>Section 2.09(b)</u> (*Use of Proceeds*).

Section 2.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedures for Requesting Advances</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;From time to time, but no more frequently than twice per calendar month (except as required for the payment of interest or Commitment Fees during the Term Loan Availability Period, subject to the limitations set forth in <u>Sections 2.01</u> (*Term Loans*), and <u>2.02</u> (*Term Loan Availability*) above and Sections 2.2 (*Sequence of Advances of Senior Debt*) and 2.4 (*Pro Rata Advances*) of the Common Terms Agreement, the Borrower may request a Term Loan Advance by delivering to the Credit Facility Agent a properly completed Disbursement Request in accordance with Section 2.3 (*Loan Disbursement and Letter of Credit Procedures*) of the Common Terms Agreement and this <u>Section 2.05</u> (*Procedures for Requesting Advances*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The aggregate amount of any proposed Term Loan Advance under this Agreement must be an amount that is no more than the available Term Loan Commitments and not less than $10,000,000 and an integral multiple of $1,000,000 (unless the available Term Loan Commitments are less than $10,000,000). Such Advances shall be made *pro rata* with respect to other Facility Agreements in accordance with the committed principal amounts under the Term Loan Commitment subject to and in accordance with Section 2.4 (*Pro Rata Advances*) of the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;From time to time, subject to the limitations set forth in <u>Section 2.03</u> (*Working Capital Loans*) and <u>Section 2.04</u> (*Working Capital Loan Availability*) above, the Borrower may request a Working Capital Advance by delivering to the Credit Facility Agent a properly completed Disbursement Request in accordance with this <u>Section 2.05</u> (*Procedures for Requesting Advances*) and Section 2.3 (*Loan Disbursement and Letter of Credit Procedures*) of the Common Terms Agreement. Working Capital Advances under this Agreement may be made concurrently with but shall not be required to be made *pro rata* with borrowings under any other Facility Agreements. For the avoidance of doubt, Working Capital Advances shall be required to be borrowed *pro rata* based on each Working Capital Lender's Commitment Percentage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The amount of any proposed Working Capital Advance under this Agreement must be an amount that is no more than the unused Aggregate Working Capital Commitments and not less than $5,000,000 and an integral multiple of $1,000,000 (unless the unused Aggregate Working Capital Commitments are less than $5,000,000).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent shall promptly advise each Lender that has a Commitment that is to fund any portion of the Term Loan Advance or Working Capital Advance, as applicable, of any Disbursement Request delivered pursuant to this <u>Section 2.05</u> (*Procedures for Requesting Advances*), together with each such Lender's Commitment Percentage of the requested Advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Any Disbursement Request delivered pursuant to clause (a) or (c) above shall be delivered by the Borrower to the Credit Facility Agent by 1:00 p.m. on or before the third (3<sup>rd</sup>) U.S. Government Securities Business Day prior to the requested Advance Date for the Advance of any SOFR Loans and 1:00 p.m. on or before the Business Day prior to the requested Advance Date for the Advance of any Base Rate Loans; *provided* that, the notice periods set forth in this clause (f) shall not apply with respect to the Disbursement Request for the Initial Advance, which Disbursement Request may be delivered no later than 11:00 a.m. on the Business Day before the requested Advance Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Each Disbursement Request delivered pursuant to this <u>Section 2.05</u> (*Procedures for Requesting Advances*) shall be substantially in the form of Schedule B-1 to the Common Terms Agreement (*Disbursement Request Form (Term Loans)*) or Schedule B-2 to the Common Terms Agreement (*Disbursement Request Form (Working Capital Loans)*). Each such Disbursement Request shall be irrevocable and shall refer to this Agreement and specify:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;whether the requested Advance is of Working Capital Loans or Term Loans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the requested Advance Date (which shall be a Business Day);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the amount of such requested Advance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;whether the requested Advance is of SOFR Loans or Base Rate Loans;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a requested Advance of SOFR Loans, the Borrower's election with respect to the duration of the initial Interest Period applicable to such SOFR Loans, which Interest Period shall be one (1), three (3) or six (6) months in length (or, if available to all applicable Lenders, such other periods as may be agreed by the Credit Facility Agent (including with respect to the Applicable Margin agreed to by all the Lenders with respect to any such Interest Period));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;if the requested Advance is (A) of a Term Loan, that each of the conditions precedent to such Term Loan Advance has been satisfied or waived in accordance with <u>Section 7.01</u> (*Conditions to Closing*) or <u>Section 7.02</u> (Conditions to Each Term Loan Advance), as applicable, or (B) of a Working Capital Loan, that each of the conditions precedent to such Working Capital Advance has been satisfied or waived in accordance with <u>Section 7.01</u> (*Conditions to Closing*) or <u>Section 7.03</u> (*Conditions to Each Working Capital Advance*), as applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;if such Disbursement Request is being made pursuant to <u>Section 2.09(a)</u> or <u>Section 2.09(b)</u> (*Use of Proceeds*); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;the wire information of the account to which the proceeds of such Advance are to be deposited.

The currency specified in a Disbursement Request must be US Dollars.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;If no election as to whether the requested Advance is of SOFR Loans or Base Rate Loans, then the requested Advance shall be of SOFR Loans; *provided* that, if the applicable Disbursement Request is delivered to the Credit Facility Agent later than 1:00 p.m. on the third (3<sup>rd</sup>) U.S. Government Securities Business Day prior to the proposed Advance Date, the requested Advance shall be of Base Rate Loans. If no initial Interest Period is specified with respect to any requested SOFR Loans, then the requested Advance shall be made as a SOFR Loan with an initial Interest Period of one (1) month.

Section 2.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Funding</u>. (a) Subject to clause (c) below, on the proposed Advance Date of each Advance, each Lender shall make a Term Loan or a Working Capital Loan, as applicable, in the amount of its Commitment Percentage of such Advance by wire transfer of immediately available funds to the Credit Facility Agent, not later than 1:00 p.m. and the Credit Facility Agent shall transfer and deposit the amounts (i) constituting proceeds of Term Loans so received as set forth in <u>Section 2.01(c)</u> or <u>(d)</u> (*Term Loans*), as applicable, for application in accordance with Section 4.5(a) (*Deposits and Withdrawals – Disbursements of Senior Debt*), Section 4.5(d) (*Deposits and Withdrawals – Construction Account*) and Section 4.5(k) (*Deposits and Withdrawals – Contingency Reserve Account*) of the Common Security and Account Agreement, as applicable, and (ii) constituting proceeds of Working Capital Loans so received as set forth in <u>Section 2.03(c)</u> (*Working Capital Loans*); *provided* that, if an Advance does not occur on the proposed Advance Date because any condition precedent to such requested Advance herein specified has not been met, the Credit Facility Agent shall return the amounts so received to each applicable Lender without interest as soon as possible.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 5.04</u> (*Obligation to Mitigate*), each Lender may (without relieving the Borrower of its obligation to repay a Loan in accordance with the terms of this Agreement and the Notes), at its option, fulfill its Commitments with respect to any such Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Unless the Credit Facility Agent has been notified in writing by any Lender prior to a proposed Advance Date that such Lender will not make available to the Credit Facility Agent its portion of the Advance proposed to be made on such date, the Credit Facility Agent may assume that such Lender has made such amounts available to the Credit Facility Agent on such date and the Credit Facility Agent in its sole discretion may, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Credit Facility Agent by such Lender and the Credit Facility Agent has made such amount available to the Borrower the Credit Facility Agent shall be entitled to recover on demand from such Lender such corresponding amount plus interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Credit Facility Agent to the Borrower to the date such corresponding amount is recovered by the Credit Facility Agent at an interest rate *per annum* equal to the Federal Funds Effective Rate. If such Lender pays such corresponding amount (together with such interest), then such corresponding amount so paid shall constitute such Lender's Term Loan or Working Capital Loan, as applicable, included in such Advance. If such Lender does not pay such corresponding amount forthwith upon the Credit Facility Agent's demand, the Credit Facility Agent shall promptly notify the Borrower and the Borrower shall promptly repay such corresponding amount to the Credit Facility Agent plus interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Credit Facility Agent to the Borrower to the date such corresponding amount is recovered by the Credit Facility Agent at an interest rate *per annum* equal to the Base Rate plus the Applicable Margin. If the Credit Facility Agent receives payment of the corresponding amount from each of the Borrower and such Lender, the Credit Facility Agent shall promptly remit to the Borrower such corresponding amount. If the Credit Facility Agent receives payment of interest on such corresponding amount from each of the Borrower and such Lender for an overlapping period, the Credit Facility Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitments hereunder and, for the avoidance of doubt, a Lender that fails to make its portion of any Advance on the due date for such payment hereunder shall be deemed in default of its obligations under <u>Section 2.01</u> (*Term Loans*) or <u>Section 2.03</u> (*Working Capital Loans*) above, as applicable. Any payment by the Borrower pursuant to this <u>Section 2.06(c)</u> (*Funding*) shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Credit Facility Agent. The failure of any Lender to make available to the Credit Facility Agent its portion of the Advance shall not relieve any other Lender of its obligations, if any, hereunder to make available to the Credit Facility Agent its portion of the Advance on the date of such Advance, but no Lender shall be responsible for the failure of any other Lender to make available to the Credit Facility Agent such other Lender's portion of the Advance on the date of any Advance. A notice of the Credit Facility Agent to any Lender or the Borrower with respect to any amounts owing under this <u>Section 2.06(c)</u> (*Funding*) shall be conclusive, absent manifest error.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender shall maintain in accordance with its usual practice and form an account or accounts evidencing the Indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent shall maintain at one of the Credit Facility Agent's offices (i) a copy of any Lender Assignment Agreement delivered to it pursuant to <u>Section 11.04</u> (*Assignments*), and (ii) a register for the recordation of (A) the names and addresses of the Lenders and the Issuing Banks, (B) all the Commitments of, and principal amount of and interest on the Loans owing and paid to, each Lender pursuant to the terms hereof from time to time, (C) the amount, beneficiary and termination date of all outstanding Letters of Credit, (D) the Issuing Bank Limit of each Issuing Bank and (E) amounts received by the Credit Facility Agent from the Borrower and whether such amounts constitute principal, interest, fees or other amounts and each Lender's or Issuing Bank's share thereof (the "*Register*"). The Register shall be available for inspection by the Borrower, any Issuing Bank and any Lender (with respect to such Issuing Bank's Issuing Bank Limits, Fronting Limits and/or Non-Fronting Limits and such Lender's Commitments and/or Loans, as applicable) at any reasonable time and from time to time upon reasonable prior notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The entries made by the Credit Facility Agent in the Register or the accounts maintained by any Lender shall be conclusive and binding evidence, absent manifest error, of the existence and amounts of the obligations recorded therein; *provided* that, the failure of any Lender or the Credit Facility Agent to maintain such Register or accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Credit Facility Agent in respect of such matters, the accounts and records of the Credit Facility Agent shall control, in the absence of manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;In addition to such accounts or records described in clauses (d) and (e) of this <u>Section 2.06</u> (*Funding*), the Loans made by each Lender may, upon the request of any Term Lender, be evidenced by a Term Loan Note or Term Loan Notes, in the case of Term Loans, or a Working Capital Loan Note or Working Capital Loan Notes, in the case of Working Capital Loans, in each case, duly executed on behalf of the Borrower and dated the date of any request therefor by a Lender. Each such Note shall have all blanks appropriately filled in, and shall be payable to such Lender and its registered assigns in a principal amount equal to the Term Loan(s) and Working Capital Loan(s) of such Lender; *provided* that, each Lender may attach schedules to its respective Note(s) and endorse thereon the date, amount and maturity of its respective Loan(s).

Section 2.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination or Reduction of Commitments</u>. (a) (i) All unused Term Loan Commitments, if any, shall be automatically and permanently terminated (without premium or penalty) as of 5:00 p.m. on the last day of the applicable Term Loan Availability Period that is a Business Day and (ii) all then-unused Working Capital Commitments, if any, shall be

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automatically and permanently terminated (without premium or penalty) as of 5:00 p.m. on the last day of the Working Capital Loan Availability Period that is a Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may cancel or reduce permanently the whole or any part of the unutilized Term Loan Commitments and/or Working Capital Commitments (together with a corresponding ratable cancellation or reduction of the Issuing Bank Limits for each Issuing Bank by the amount by which the Issuing Bank Limits exceed the Aggregate Working Capital Commitments after giving effect to the cancellation or reduction of unutilized Working Capital Commitments), in either case, in accordance with Section 3.2 (*Right of Repayment and Cancellation in Relation to a Single Facility Lender*), Section 3.7 *(Pro Rata Payment)* and Section 3.8 (*Reductions and Cancellations of Facility Commitments*) of the Common Terms Agreement (*provided* that, Section 3.8(c) of the Common Terms Agreement shall not apply to a reduction or cancellation of Working Capital Commitments) and upon at least three (3) Business Days' prior written notice to the Credit Facility Agent (with a copy to any applicable Issuing Bank, and the Credit Facility Agent will thereafter notify the Lenders) and certification by the Borrower to the Credit Facility Agent that the letter of credit capacity under the portion of the Working Capital Commitments to be cancelled or reduced, after taking into account other funding sources irrevocably available to the Obligors, is not required to satisfy any express obligation of either Obligor to provide performance security; *provided* that, in the event the Borrower cancels or reduces any part, but not all, of the Commitments prior to the Project Phase 1 Completion Date (other than in accordance with Section 6.3 (*Replacement Debt*) of the Common Terms Agreement), the Borrower shall deliver to the Credit Facility Agent a certification (confirmed in writing by the Independent Engineer) that such cancellation or reduction will not result in the Obligors' failing to satisfy the In-Construction Sufficiency Condition (as confirmed by the Independent Engineer; provided that, no such confirmation will be required for any reduction with respect to the incurrence of any Replacement Debt); *provided further* that, in accordance with Section 3.8 (*Reductions and Cancellations of Facility Commitments*) and Section 3.7(b)(i) (*Pro Rata Payment*) of the Common Terms Agreement and Section 2.3(a) (*Payments and Prepayments – Pro Rata Payment of Senior Debt Obligations*) of the Common Security and Account Agreement, (A) any such cancellation of Working Capital Commitments and Issuing Bank Limits may be made without *pro rata* cancellation of Facility Debt Commitments under any other Facility Agreements then in effect, (B) the Working Capital Lenders shall not be entitled to *pro rata* cancellation in the case of a cancellation of Facility Debt Commitments under any other Facility Agreements and (C) any such cancellation of Issuing Bank Limits without a corresponding cancellation of Working Capital Commitments may be made at the Borrower's election without *pro rata* cancellation of any other Issuing Bank Limits. Where such cancellation or reduction is to be made *pro rata*, the applicable Commitments and Issuing Bank Limits (if such cancellation or reduction is with respect to Working Capital Commitments) shall be automatically and permanently reduced *pro rata* among all Lenders and Issuing Banks holding such Commitments and Issuing Bank Limits in accordance with their respective Commitment Percentages. Any such partial cancellation or reduction (x) of Term Loan Commitments pursuant to this <u>Section 2.07(b)</u> shall be in a minimum amount of $5,000,000 and (y) of Working Capital Commitments shall be in an amount of $5,000,000 or an integral multiple of $5,000,000 in excess thereof (or, in each case, if less the remaining amount of such Commitment). From the effective date of any such reduction or cancellation, the

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Commitment Fees shall be computed on the undrawn portion of the applicable Commitments as so reduced or cancelled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;On the date of incurrence of any Replacement Debt in accordance with Section 6.3 (*Replacement Debt*) of the Common Terms Agreement incurred to replace all or any part of the Term Loan, the Term Loan Commitments of the Term Lenders shall be reduced in accordance with Section 3.8(a) (*Reductions and Cancellations of Facility Commitments*) of the Common Terms Agreement; *provided* that, the Borrower shall be deemed to have repaid Term Loans and cancelled Facility Debt Commitments on a *pro rata* basis by applying the proceeds of such Replacement Debt first to repay any outstanding Term Loans in accordance with <u>Section 4.16(c)</u> (*Pro Rata Treatment*), and, to the extent any Replacement Debt proceeds remain, secondly to cancel Term Loan Commitments that subsequently remain available to be drawn on a *pro rata* basis. On the date of incurrence of any Replacement Debt in accordance with Section 6.3 (*Replacement Debt*) of the Common Terms Agreement, no *pro rata* repayment of Working Capital Loans or cancellations of Working Capital Commitments shall be required to be made by the Obligors unless such Replacement Debt has been incurred to replace all or any part of the Working Capital Loans and/or Working Capital Commitments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall have the right to replace any Non-Consenting Lender on a non-*pro rata* basis, pursuant to <u>Section 5.04(b)</u> (*Obligation to Mitigate*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;All unused Commitments, if any, shall be terminated upon the occurrence and Continuance of a Loan Facility Event of Default if required pursuant to <u>Section 9.02</u> (*Acceleration Upon Bankruptcy*) or <u>Section 9.03</u> (*Action Upon Event of Default*) in accordance with the terms thereof.

<u>Section 2.08&nbsp;&nbsp;&nbsp;&nbsp;Incremental Commitments.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may at any time after the Closing Date and from time to time, by written notice to the Credit Facility Agent (a "*Working Capital Commitment Increase Notice*"), request increases in the Working Capital Commitments (together with any applicable corresponding increases in the Issuing Bank Limits) of any Working Capital Lender, Issuing Bank or by any other Person that is an Eligible Assignee or satisfies the rating requirement set forth in the definition of "Issuing Bank," as applicable (each, a "*Working Capital Commitment Increase*"), up to an aggregate principal amount not to exceed the maximum amount of Working Capital Debt permitted pursuant to Section 6.2(a) (*Working Capital Debt*) of the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Working Capital Commitment Increase Notice shall specify (i) the date on which the Borrower proposes that such Working Capital Commitment Increase shall be effective, which shall be a date not less than thirty (30) days after the date on which such notice is delivered to the Credit Facility Agent (or, subject to clause (c)(iii)(E) below, such shorter period of time as agreed by the Incremental Lender/Issuing Banks (as defined below) participating in such Working Capital Commitment Increase), (ii) the amounts of the Working Capital Commitment Increase (including any proposed increase in Non-Fronting Limits of an Issuing Bank) and (iii) the identity of each Working Capital Lender, Issuing Bank or other Person that is

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an Eligible Assignee or satisfies the rating requirement set forth in the definition of "Issuing Bank," as applicable (each, an "*Incremental Lender/Issuing Bank*") to whom the Borrower proposes any portion of the Working Capital Commitment Increase be allocated and the amounts of such allocations; *provided* that, any Working Capital Lender, Issuing Bank or other Person approached to provide all or a portion of the Working Capital Commitment Increase may elect or decline, in its sole and absolute discretion, to participate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each Working Capital Commitment Increase shall become Working Capital Commitments, Issuing Bank Limits, Non-Fronting Limits and/or Fronting Limits (as applicable) (or, in the case of an increase in the commitment of an existing Working Capital Lender or Issuing Bank, an increase in such Working Capital Lender's or Issuing Bank's applicable Working Capital Commitment, Issuing Bank Limit, Non-Fronting Limit or Fronting Limit (as applicable)) under this Agreement pursuant to an amendment (such amendment, an "*Incremental Amendment*") to this Agreement executed by the Borrower, the Credit Facility Agent and each Incremental Lender/Issuing Bank (with the consent of no other Working Capital Lender or Issuing Bank being required) which provides solely for (i) the increase in the applicable Working Capital Commitments, Issuing Bank Limits, Non-Fronting Limits and/or Fronting Limits (as applicable) proposed in the applicable Working Capital Commitment Increase Notice and consented to by the applicable Incremental Lender/Issuing Bank, (ii) amendments required to reflect the relative unfunded Commitments of the Incremental Lenders/Issuing Banks and (iii) the joinder of each Incremental Lender/Issuing Bank that is not already an existing Working Capital Lender or Issuing Bank party to this Agreement. The effectiveness of any Incremental Amendment shall be subject solely to the conditions that (A) no Loan Facility Event of Default or Unmatured Loan Facility Event of Default shall exist on such date of effectiveness before or after giving effect to such Working Capital Commitment Increase, (B) each Incremental Lender/Issuing Bank that is not already a Working Capital Lender shall be entitled to receipt of any required reliance letters in respect of the legal opinions provided to the Credit Facility Agent pursuant to Section 4.1(f) (*Conditions to Closing Date and Initial Advance – Opinions from Counsel*) of the Common Terms Agreement, (C) since the time of the financial statements most recently provided pursuant to Section 10.1(a) (*Accounting, Financial and Other Information*) of the Common Terms Agreement no developments have occurred which, individually or in the aggregate have resulted in or could reasonably be expected to result in a Material Adverse Effect, (D) each Incremental Lender/Issuing Bank who is not already a Working Capital Lender or Issuing Bank is reasonably acceptable to the Credit Facility Agent and each Issuing Bank and (E) the Intercreditor Agent has received, at least three (3) Business Days before the effectiveness of such Incremental Amendment, a certificate from the Borrower that (1) identifies each holder of Working Capital Commitments, Issuing Bank Limits, Non-Fronting Limits and/or Fronting Limits (after giving effect to the applicable Working Capital Commitment Increase) and (2) attaches a copy of the proposed Incremental Amendment.

<u>Section 2.09&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall be permitted to use the proceeds of Term Loans solely: (A) to pay Project Costs relating to the Phase 1 Project Facilities, including the payment of Permitted Completion Costs, funding the Senior Facilities Debt Service Reserve Account on the Project

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Phase 1 Completion Date (to the extent not funded with one or more Letters of Credit or Acceptable Debt Service Reserve LCs) and funding the Contingency Reserve Account (in each case, in respect of the Phase 1 Project Facilities), (B) to make Authorized Investments, (C) to reimburse Drawstop Equity Contributions previously made in respect of the Phase 1 Project Facilities in accordance with Section 11.2(c) (*Certain Restricted Payments*) of the Common Terms Agreement (and Section 4.5(d) (*Deposits and Withdrawals – Construction Account*) of the Common Security and Account Agreement, and (D) to pay transaction costs, fees and expenses in connection with the closing of the Senior Debt and the Project Phase 1 Development (in each case, in respect of the Phase 1 Project Facilities);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall be permitted to use the Letters of Credit and the proceeds of Working Capital Loans solely for working capital purposes of the Obligors, including (i) to satisfy the Obligors' credit support (and related mark to market) obligations under the Material Project Agreements and/or other contracts, including such obligations related to purchases of natural gas and any costs and expenses related to the supply or transport of natural gas by the Obligors, (ii) to fund reserve requirements, (iii) to pay transaction costs, fees and expenses in connection with the closing of the Senior Debt and the Project Phase 1 Development (in each case, in respect of the Phase 1 Project Facilities), (iv) for working capital purposes and (v) in an amount not to exceed $400,000,000, other general corporate purposes; *provided* that, the Borrower shall not borrow amounts under the Working Capital Facility or use the proceeds of Working Capital Loans to meet any requirement under any other Senior Debt Instrument governing the Working Capital Debt that the Borrower reduce the principal amount relating to any revolving loans under such other Senior Debt Instrument to $0 for a period of at least five (5) consecutive Business Days at least once per calendar year (it being acknowledged and agreed that the foregoing shall not limit the utilization by the Borrower of other Indebtedness that is permitted to be incurred pursuant to Section 12.14 (*Limitation on Indebtedness*) of the Common Terms Agreement for such purposes to the extent the terms and conditions of such Indebtedness permit such utilization).

ARTICLE III<br>LETTERS OF CREDIT

<u>Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;Letters of Credit.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions set forth herein and, as applicable, the terms and conditions set forth in the Common Terms Agreement, during the Working Capital Loan Availability Period, the Borrower may (but is not required to), deliver to (1) the Credit Facility Agent (which shall promptly distribute copies thereof to the Working Capital Lenders), (2) the Issuing Bank designated by the Borrower (with the consent of such Issuing Bank in its sole discretion) with respect to Fronted Letters of Credit and (3) each Issuing Bank with a Non-Fronting Limit with respect to Non-Fronted Letters of Credit, a letter of credit request substantially in the form of Schedule B-3 to the Common Terms Agreement (*Issuance Request Form (Letters of Credit*)) or such other form as requested by the Borrower and reasonably acceptable to the applicable Issuing Bank (a "*Request for Issuance*") for the issuance, extension, modification or amendment of a Letter of Credit from time to time during the Working Capital

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Loan Availability Period. Each Request for Issuance shall include (i) the date (which shall be a Business Day, but in no event later than the date that occurs five (5) Business Days prior to the Final Maturity Date) of issuance of such Letter of Credit (or such extension, modification or amendment) and the stated expiry date thereof (which will be consistent with <u>Section 3.01(d)</u> (*Letters of Credit*)), (ii) the proposed amount of such Letter of Credit, (iii) the intended beneficiary of such Letter of Credit, (iv) a description of the intended use of such Letter of Credit and (v) whether such Letter of Credit is to be a Fronted Letter of Credit or a Non-Fronted Letter of Credit. Each Request for Issuance shall be irrevocable unless modified or rescinded by the Borrower not less than three (3) Business Days prior to the proposed date of issuance (or extension, modification or amendment) specified therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may request Letters of Credit up to the lesser of (i) an aggregate amount for all requested and issued Letters of Credit of the aggregate of the Issuing Bank Limits of all Issuing Banks and (ii) the Aggregate Working Capital Commitments; *provided* that, in each case, no Issuing Bank shall be required to issue any Letter of Credit or any amendment to increase the available balance of any Letter of Credit if, after such issuance or amendment, (A) the aggregate Working Capital Commitment Exposure for all Working Capital Lenders shall exceed the Aggregate Working Capital Commitments, (B) the LC Exposure of such Issuing Bank with a Fronting Limit shall exceed its Fronting Limit, (C) the LC Exposure of such Issuing Bank with a Non-Fronting Limit shall exceed its Non-Fronting Limit, (D) the LC Exposure of such Issuing Bank shall exceed its Issuing Bank Limit or (E) the Working Capital Commitment Exposure of such Issuing Bank shall exceed its Working Capital Commitment in its capacity as a Working Capital Lender. For the avoidance of doubt, subject to compliance with the foregoing requirements and <u>Sections 3.01(a)</u> and <u>3.01(f)</u> (*Letters of Credit*), the Borrower may request Fronted Letters of Credit from an Issuing Bank with a Fronting Limit up to the Issuing Bank's full Fronting Limit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Promptly after its receipt of a Request for Issuance, the Issuing Bank will confirm with the Credit Facility Agent (in writing) that the Credit Facility Agent has received a copy of such Request for Issuance from the Borrower and, if not, the Issuing Bank will provide the Credit Facility Agent with a copy thereof. Unless the Issuing Bank has received notice (in writing) from the Credit Facility Agent (including at the request of any Working Capital Lender) no later than three (3) Business Days prior to the proposed date of issuance (or extension, modification or amendment) (i) directing the Issuing Bank not to issue (or extend, amend or modify) such Letter of Credit as a result of the limitations set forth in <u>Section 3.01(b)</u> (*Letters of Credit*), or (ii) that one or more of the applicable conditions precedent in <u>Section 7.03</u> (*Conditions to Each Working Capital Advance*) is not then satisfied or waived, then (A) the applicable Issuing Bank shall issue (or extend, modify or amend) each Letter of Credit not later than 1:00 p.m. on the later of (1) the proposed date of issuance (or extension, modification or amendment) specified in such Request for Issuance and (2) three (3) Business Days after the receipt of the Request for Issuance (taking into account that any Request for Issuance received after 1:00 p.m. on any Business Day will be deemed received on the next Business Day), and (B) such issuance (or extension, modification or amendment) shall be subject to the terms and conditions hereof, including fulfillment of the applicable conditions precedent and the other requirements set forth herein (including <u>Sections 3.01(a)</u> and <u>3.01(f)</u> (*Letters of Credit*)). An

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Issuing Bank that issues (or extends, amends or modifies) a requested Letter of Credit pursuant to this <u>Section 3.01</u> (*Letters of Credit*) shall issue (or extend, amend or modify) such Letter of Credit to the Borrower or directly to the intended beneficiary and shall provide notice and a copy thereof to the Intercreditor Agent and the Credit Facility Agent, which, in the case of a Fronted Letter of Credit, shall promptly furnish copies thereof to the Working Capital Lenders, and to the extent that such Letter of Credit was issued directly to the intended beneficiary, such Issuing Bank shall provide notice and a copy thereof to the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each Letter of Credit shall expire no later than the earlier of (i) one year from the date of issuance of such Letter of Credit and (ii) five (5) Business Days prior to the Working Capital Loan Termination Date. Each Letter of Credit may, if requested by the Borrower, provide that it will be automatically extended for a stated period of time at the end of its then-scheduled expiration date and each successive expiration date (but in any event shall not be extended for longer than one year from the date of effectiveness of each such extension or beyond five (5) Business Days prior to the Working Capital Loan Termination Date) unless the Issuing Bank that issued the Letter of Credit notifies the beneficiary thereof no later than thirty (30) days prior to such expiration date that such Issuing Bank elects not to renew or extend such Letter of Credit. In no event shall the Working Capital Lenders have any obligation to pay any amount to (or for the account of) any Issuing Bank or any other Person, in respect of a drawing under a Letter of Credit that occurs after the Final Maturity Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in this Agreement to the contrary, no Issuing Bank will have any obligation to issue, or extend the expiry date of, any Letter of Credit if (i) any judgment, order, or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing Bank from issuing, or extending the expiry date of, such Letter of Credit or (ii) any Government Rule or any directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Bank shall prohibit, or direct that such Issuing Bank refrain from, the issuance of new letters of credit or the extension of the expiry date of issued letters of credit generally or the issuance, or extension of the expiry date of, a Letter of Credit specifically or shall impose upon such Issuing Bank with respect to such Letter of Credit any restriction, reserve, or capital requirement, or shall impose upon such Issuing Bank any loss, cost, or expense. Each Issuing Bank shall provide the Borrower with prompt notice of the occurrence of any event described in this <u>Section 3.01(e)</u> (*Letters of Credit*) not later than two (2) Business Days after obtaining knowledge of the occurrence of any such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may request that a Letter of Credit be a Fronted Letter of Credit or a Non-Fronted Letter of Credit; *provided* that, (i) the Borrower may only request Fronted Letters of Credit from an Issuing Bank that is specified in this Agreement as having a Fronting Limit and who has consented to issue such Fronted Letter(s) of Credit in accordance with <u>Section 3.01(a)</u> (*Letters of Credit*), and (ii) if the Borrower wishes to request Non-Fronted Letters of Credit, the Borrower shall determine the specific aggregate amount to be covered by such Letters of Credit to be provided to a specific beneficiary (the "*Non-Fronted LC Amount*"), and it shall make requests for Non-Fronted Letters of Credit simultaneously to all the Issuing Banks under this Agreement such that the aggregate amount of all such Non-Fronted Letters of Credit issued to

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such beneficiary is equal to the Non-Fronted LC Amount and the amount of the Non-Fronted Letter of Credit of each individual Issuing Bank is equal to its Commitment Percentage of the Non-Fronted LC Amount. No Working Capital Lender is required to participate in the extension of credit resulting from the issuance (or extension, modification or amendment) of a Non-Fronted Letter of Credit issued by an Issuing Bank other than itself. Each Working Capital Lender severally agrees with each Issuing Bank to participate in an amount equal to its Commitment Percentage in the extension of credit resulting from the issuance (or extension, modification or amendment) of a Fronted Letter of Credit by such Issuing Bank and each drawing of the LC Available Amounts thereunder, in the manner and the amount provided in <u>Section 3.02</u> (*Reimbursement to Issuing Banks*), and the issuance of such Fronted Letter of Credit shall be deemed to be a confirmation by the Issuing Bank and each Working Capital Lender of such participation in such amount; *provided* that, no Working Capital Lender shall be required to participate in a Fronted Letter of Credit to the extent such Working Capital Lender's Working Capital Commitment Exposure would exceed its Working Capital Commitment as a result of such participation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;In addition to the date of issuance, stated expiry date, amount, beneficiary, intended use and request for a Fronted Letter of Credit or Non-Fronted Letter of Credit specified in the applicable Request for Issuance, each Letter of Credit shall provide (unless the Borrower specifies otherwise in such Request for Issuance) for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;payment in immediately available funds in US Dollars on a Business Day;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;multiple drawings and partial drawings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;applicability of the International Standby Practices 1998, International Chamber of Commerce Publication No. 590 (1998) ("*ISP98*"), Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce Publication No. 600 (2007) ("*UCP 600*"), or such other rules as the Borrower and the applicable Issuing Bank shall agree, and shall, as to matters not governed by ISP98, UCP 600 or such other rules, be governed and construed in accordance with the laws of the State of New York and applicable U.S. federal law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;a drawing by the beneficiary of the full available amount thereof if either (A) the Issuing Bank that issued the Letter of Credit ceases to satisfy the minimum credit ratings for an Issuing Bank hereunder (as set forth in the definition of "Issuing Bank" in <u>Exhibit A</u> (*Definitions*)) and such Letter of Credit has not been replaced by an Issuing Bank satisfying such minimum credit ratings within thirty (30) days or such shorter number of days as required under the document, if any, with respect to which such Letter of Credit is issued; *provided* that, the right to draw under this clause (A) shall only be included in the applicable Letter of Credit to the extent required under such document with respect to which such Letter of Credit is issued or (B) the Issuing Bank that issued the Letter of Credit notifies the Borrower (which shall promptly notify the beneficiary) no later than 60 days prior to the then-scheduled expiration date that such Issuing Bank elects not to extend such Letter of Credit; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Non-Fronted Letter of Credit, the beneficiary will be required to certify that it is making a pro rata draw with all other Letters of Credit issued in favor of such beneficiary in respect of a Non-Fronted LC Amount based on the percentage of such Non-Fronted Letter of Credit to Non-Fronted LC Amount as notified to the beneficiary by the Borrower.

<u>Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;Reimbursement to Issuing Banks.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;An Issuing Bank shall give the Credit Facility Agent, the Collateral Agent, the Borrower and each of the Working Capital Lenders prompt notice of any payment made by such Issuing Bank in accordance with the terms of any Letter of Credit issued by such Issuing Bank (an "*LC Payment Notice*") no later than 10:00 a.m. on the Business Day immediately succeeding the date of such payment by such Issuing Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Upon delivery to the Borrower of an LC Payment Notice on or before 10:00 a.m., New York City time, on the Business Day immediately succeeding the date of such payment by an Issuing Bank, the Borrower shall either (i) on or before 12:00 noon on such Business Day, reimburse such Issuing Bank for such payment (an "*LC Reimbursement Payment*") by paying to the Credit Facility Agent, for the account of such Issuing Bank, an amount equal to the payment made by such Issuing Bank plus interest on such amount at a rate per annum equal to the Base Rate plus the Applicable Margin for Base Rate Loans (*provided* that, if an Issuing Bank delivers an LC Payment Notice to the Borrower after 10:00 a.m. New York City time on the Business Day immediately succeeding the date of payment by such Issuing Bank, the Borrower shall make the LC Reimbursement Payment on or before 12:00 noon New York City time on the next succeeding Business Day) or (ii) (A) provide written notice to such Issuing Bank and the Credit Facility Agent electing to have the reimbursement obligation converted into an LC Loan in accordance with <u>Sections 3.02(c)</u> and <u>(f)</u> (*Reimbursement to Issuing Banks*) or (B) not make the LC Reimbursement Payment as required under <u>Section 3.02(b)(i)</u> (*Reimbursement to Issuing Banks*), in which case, in the case of this clause (ii), such reimbursement obligation shall automatically convert to an LC Loan as of such time; *provided* that, no Loan Facility Event of Default shall have occurred and been Continuing as of the time of the applicable payment made under the Letter of Credit. An Issuing Bank's failure to provide an LC Payment Notice shall not relieve the Borrower of its obligation to reimburse such Issuing Bank for any payment it makes under any Letter of Credit. In the case of any Non-Fronted Letters of Credit issued with respect to a specific Non-Fronted LC Amount, the Borrower may not elect to make an LC Reimbursement Payment and/or convert a reimbursement obligation into a LC Loan for some but not all the Issuing Banks providing Non-Fronted Letters of Credit with respect to such Non-Fronted LC Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If the Borrower fails to make the LC Reimbursement Payment as required under <u>Section 3.02(b)</u> (*Reimbursement to Issuing Banks*) or provides written notice to such Issuing Bank and the Credit Facility Agent electing to have the reimbursement obligation converted into an LC Loan, such reimbursement obligation shall automatically convert to an LC Loan; *provided* that, no Loan Facility Event of Default shall have occurred and been Continuing as of the time of the applicable payment made under the Letter of Credit. If such LC Loan or failure to make the

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LC Reimbursement Payment relates to a Fronted Letter of Credit, the Credit Facility Agent shall promptly notify each of the Working Capital Lenders of the amount of its share of the payment made under such Fronted Letter of Credit, which shall be such Working Capital Lender's Commitment Percentage of such amount paid by such Issuing Bank (the "*Working Capital Lender Payment Notice*"). Subject to <u>Section 3.01(f)</u> (*Letters of Credit*), each Working Capital Lender hereby severally agrees to pay the amount specified in the Working Capital Lender Payment Notice in immediately available funds to the Credit Facility Agent for the account of such Issuing Bank with respect to a Fronted Letter of Credit plus interest on such amount at a rate per annum equal to the Federal Funds Effective Rate from the date of such payment by such Issuing Bank to the date of payment to such Issuing Bank by such Working Capital Lender. Each Working Capital Lender shall make such payment by not later than 4:00 p.m. New York City time on the date it received the Working Capital Lender Payment Notice (if such notice is received at or prior to 1:00 p.m. New York City time) and before 12:00 noon New York City time on the next succeeding Business Day following such receipt (if such notice is received after 1:00 p.m. New York City time). In the case of Fronted Letters of Credit, each Working Capital Lender shall severally indemnify and hold harmless such Issuing Bank from and against any and all losses, liabilities (including liabilities for penalties), actions, suits, judgments, demands, costs, and expenses (including reasonable attorneys' fees and expenses) resulting from any failure on the part of such Working Capital Lender to provide, or from any delay in providing, the Credit Facility Agent for the account of such Issuing Bank with its Commitment Percentage of the amount paid under the Fronted Letter of Credit but no such Working Capital Lender shall be so liable for any such failure on the part of or caused by any other Working Capital Lender or the willful misconduct or gross negligence, as determined by a court of competent jurisdiction by a final and non-appealable order, of the Credit Facility Agent. Each Working Capital Lender's obligation to make each such payment to the Credit Facility Agent for the account of the applicable Issuing Bank in the case of payments made in respect of a Fronted Letter of Credit shall be several and not joint and shall not be affected by (i) the occurrence or continuance of any Loan Facility Event of Default, (ii) the failure of any other Working Capital Lender to make any payment under this <u>Section 3.02</u> (*Reimbursement to Issuing Banks*), or (iii) the date of the drawing under the applicable Letter of Credit issued by the applicable Issuing Bank; *provided* that, such drawing occurs prior to the earlier of (A) the Final Maturity Date or (B) the latest date allowed for presentation of documents under the applicable Fronted Letter of Credit. Each Working Capital Lender further agrees that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent shall pay to the applicable Issuing Bank in immediately available funds the amounts paid in respect of a Fronted Letter of Credit pursuant to <u>Section 3.02(b)</u> (*Reimbursement to Issuing Banks*) and <u>Section 3.02(c)</u> (*Reimbursement to Issuing Banks*) before the close of business on the day such payment is received; *provided* that, any amount received by the Credit Facility Agent that is due and owing to such Issuing Bank and remains unpaid to such Issuing Bank on the date of receipt shall be paid on the next succeeding Business Day with interest payable at the Federal Funds Effective Rate.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;For so long as any Working Capital Lender is a Defaulting Lender under clause (a) of the definition thereof, such Defaulting Lender's participation in LC Exposure shall be reallocated in accordance with <u>Section 4.18(b)</u> (*Defaulting Lenders*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Each payment made by a Working Capital Lender under clause (c) above shall constitute an LC Loan deemed made by such Working Capital Lender to the Borrower on the date of such payment by an Issuing Bank under a Fronted Letter of Credit issued by such Issuing Bank. All such payments by the Working Capital Lenders in respect of any one such payment by such Issuing Bank shall constitute a single LC Loan hereunder. Each payment made by an Issuing Bank in respect of a Non-Fronted Letter of Credit that is not reimbursed by the Borrower or that is converted into an LC Loan by notice from the Borrower pursuant to clause (c) above shall constitute an LC Loan deemed made by such Issuing Bank in its capacity as a Working Capital Lender. LC Loans that are converted to SOFR Loans in respect of Non-Fronted Letters of Credit with respect to a specific Non-Fronted LC Amount shall constitute a single SOFR Loan for the purposes of <u>Section 4.05(e)</u> (*Interest Rates*) hereunder. Each LC Loan initially shall be a Base Rate Loan.

Section 3.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Obligations Absolute.</u> The payment obligations of each Working Capital Lender under <u>Section 3.02(c)</u> (*Reimbursement to Issuing Banks*) and of the Borrower under this Agreement in respect of any payment under any Letter of Credit and any LC Loan shall be unconditional and irrevocable (subject only to the Borrower's and each Working Capital Lender's right to bring suit against an Issuing Bank pursuant to <u>Section 3.04</u> (*Liability of the Issuing Banks and the Working Capital Lenders*) following the reimbursement of such Issuing Bank for any such payment), and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following circumstances:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any lack of validity or enforceability of any Finance Document or any other agreement or instrument relating thereto or to such Letter of Credit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any amendment or waiver of, or any consent to departure from, all or any of the Finance Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the existence of any claim, set-off, defense or other right which the Borrower may have at any time against any beneficiary, or any transferee, of such Letter of Credit (or any Persons for whom any such beneficiary or any such transferee may be acting), any Issuing Bank, or any other Person, whether in connection with this Agreement, the transactions contemplated herein or by such Letter of Credit, or any unrelated transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any statement or any other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;payment in good faith by an Issuing Bank under any Letter of Credit issued by such Issuing Bank against presentation of documents that do not comply with the terms of such Letter of Credit; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;any other circumstance or happening whatsoever, whether or not similar to any of the foregoing.

Section 3.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Liability of the Issuing Banks and the Working Capital Lenders.</u> The Borrower assumes all risks of the acts and omissions of any beneficiary or transferee of any Letter of Credit, and none of the Credit Facility Agent, the Issuing Banks, the Working Capital Lenders nor any of their respective Related Parties shall be liable or responsible for (a) the use that may be made of such Letter of Credit or any acts or omissions of any beneficiary or transferee thereof in connection therewith; (b) the validity, sufficiency or genuineness of documents, or of any endorsement thereon, even if such documents should prove to be in any or all respects invalid, insufficient, fraudulent or forged; (c) payment by the applicable Issuing Bank against presentation of documents that do not comply with the terms of such Letter of Credit, including failure of any documents to bear any reference or adequate reference to such Letter of Credit; or (d) any other circumstances whatsoever in making or failing to make payment under such Letter of Credit; *provided* that, in each case, payment by the applicable Issuing Bank shall not have constituted gross negligence or willful misconduct as determined by a court of competent jurisdiction by a final and non-appealable order, in which event the Borrower and each Working Capital Lender shall have the right to bring suit against an Issuing Bank, and such Issuing Bank shall be liable to the Borrower and any Working Capital Lender, to the extent of any direct, as opposed to consequential, damages suffered by the Borrower or such Working Capital Lender caused by such Issuing Bank's willful misconduct or gross negligence as determined by a court of competent jurisdiction by a final and non-appealable order, including such Issuing Bank's willful failure to make timely payment under such Letter of Credit following the presentation to it by the beneficiary thereof of documents which strictly comply with the terms and conditions of such Letter of Credit.

Section 3.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Resignation as an Issuing Bank.</u> Any Issuing Bank may, upon no less than thirty (30) days' prior written notice to the Borrower (with a copy to the Credit Facility Agent, to be distributed to each Working Capital Lender) resign as an Issuing Bank, effective upon the appointment of a successor Issuing Bank in accordance with this <u>Section 3.05</u> (*Resignation as an Issuing Bank*). In the event of any such resignation as an Issuing Bank, the Borrower shall be entitled to appoint a successor Issuing Bank hereunder from among the Working Capital Lenders (*provided* that, the Borrower may not so appoint any Working Capital Lender if, as a result of such appointment, such Working Capital Lender's (a) Working Capital Commitment Exposure would exceed its Working Capital Commitment or (b) LC Exposure would exceed its Issuing Bank Limit, Fronting Limit or Non-Fronting Limit, as applicable) who meet the requirements hereunder to be an Issuing Bank; *provided* that, no failure by the Borrower to appoint any such successor shall affect the resignation of any Issuing Bank. If any Working Capital Lender resigns as an Issuing Bank, it shall retain all the rights, powers, privileges and duties of an Issuing Bank hereunder with respect to all Letters of Credit that it issued, including Letters of Credit outstanding as of the effective date of its resignation as an Issuing Bank and all LC Exposure with respect thereto (including the right to require the Working Capital Lenders to make LC Loans or fund participations in Letters of Credit). Upon the appointment of a successor Issuing Bank and such successor Issuing Bank's acceptance, in writing, of the appointment and agreement to be bound by all of the terms and conditions contained in this Agreement and the

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other Finance Documents binding on it in such capacity, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the Issuing Bank as the case may be and the successor Issuing Bank shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the applicable resigning Issuing Bank to effectively assume the obligations of such Issuing Bank with respect to such Letters of Credit.

Section 3.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Fronted Letters of Credit.</u> The Borrower agrees that in the event that it has provided any Non-Fronted Letter of Credit in respect a Non-Fronted LC Amount, it shall instruct the beneficiary thereof to draw on such Non-Fronted Letter of Credit *pro rata* among all Non-Fronted Letters of Credit issued in respect of such Non-Fronted LC Amount. In the event that the Borrower has funded the Senior Facilities Debt Service Reserve Account using Non-Fronted Letters of Credit from each Issuing Bank, the Collateral Agent hereby agrees (without the need for any further action or instruction from any Senior Creditors) to draw on such Non-Fronted Letters of Credit only on a pro rata basis as notified by the Borrower to the Collateral Agent or, failing such notification, as provided to the Collateral Agent by the Credit Facility Agent on request.

Section 3.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Reinstatement of Letters of Credit</u>. The available balance of each Letter of Credit shall be reduced by the amount of any payment made by the applicable Issuing Bank on a drawing thereunder. Once so reduced, the available balance of such Letter of Credit may only be reinstated upon and to the extent of any reimbursement by the Borrower of such drawing or, if reimbursement of such drawing is made through LC Loans, upon and to the extent of payment by the Borrower of the LC Loans corresponding to such drawing, in each case, pursuant to <u>Section 3.02</u> (*Reimbursement to Issuing Banks*). At least one (1) Business Day prior to the date of any such reinstatement of a Letter of Credit, the Borrower shall deliver to such Issuing Bank and the Credit Facility Agent a written request for reinstatement signed by an Authorized Officer of the Borrower and in form and substance satisfactory to such Issuing Bank. Upon the effectiveness of any such reinstatement, such Issuing Bank shall notify the Borrower, the Credit Facility Agent and the beneficiary of the reinstated Letter of Credit and shall indicate in such notice the new available balance of such Letter of Credit.

Section 3.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Existing Letter of Credit</u>. The Existing Letter of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof.

ARTICLE IV<br>REPAYMENTS, PREPAYMENTS, INTEREST AND FEES

Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Repayment of Term Loan Advances</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower unconditionally and irrevocably promises to pay to the Credit Facility Agent for the ratable account of each Term Lender on each CTA Payment Date the aggregate outstanding principal amount of the Term Loans beginning on the First Repayment Date, in accordance with the Amortization Schedule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Following the making of any prepayments pursuant to this Agreement or Section 3.1 (*CTA Payment Dates*) of the Common Terms Agreement, including in connection

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with the incurrence of Replacement Debt, the Borrower shall acting reasonably and in good faith generate and promptly provide to the Credit Facility Agent a revised Amortization Schedule for approval by the Credit Facility Agent (such approval not to be unreasonably withheld, conditioned or delayed); and promptly after such approval or deemed approval, the Borrower shall provide such Amortization Schedule to the Intercreditor Agent. In any of the instances described above, the revised Amortization Schedule shall be delivered prior to the next Quarterly Payment Date and prepared in a manner that is consistent with the principles used to prepare the original Amortization Schedule. Any failure by the Credit Facility Agent to provide a revised Amortization Schedule as required pursuant to this <u>Section 4.01</u> (*Repayment of Term Loan Advances*) shall not affect the Borrower's obligations to pay the Term Loans in accordance with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The repayment of principal by the Borrower for the Term Loans shall commence on the earlier of (such earlier date, the "*First Repayment Date*"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the first Quarterly Payment Date (or, if such date is not a Business Day, the Business Day immediately prior to such Quarterly Payment Date) occurring more than three calendar months following the Project Phase 1 Completion Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Phase 1 LNG Facility Date Certain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary set forth in <u>Section 4.01(a)</u> (*Repayment of Term Loan Advances*) above, the Borrower irrevocably and unconditionally promises to pay the final principal repayment installment on the Final Maturity Date in an amount equal to the aggregate principal amount of all Term Loans outstanding on such date.

Section 4.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Repayment of LC Loans.</u> The Borrower unconditionally and irrevocably promises to pay to the Credit Facility Agent for the ratable account of each Working Capital Lender the aggregate outstanding principal amount of each LC Loan no later than 5:00 p.m. on the Working Capital Loan Termination Date.

Section 4.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Repayment of Working Capital Advances</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall reduce the aggregate outstanding principal amount of all Working Capital Loans to zero US Dollars ($0) for a period of five (5) consecutive Business Days at least once every calendar year; *provided* that, the Borrower will determine in its sole discretion when during any calendar year it elects to satisfy such requirement and the Credit Facility Agent shall have no duty to monitor compliance with this <u>Section 4.03(a)</u> (*Repayment of Working Capital Advances*); *provided further* that the Borrower may not borrow amounts under any other Facility Agreement for Working Capital Debt in order to meet the requirement specified in this <u>Section 4.03(a)</u> (*Repayment of Working Capital Advances*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary set forth in <u>Section 4.03(a)</u> (*Repayment of Working Capital Advances*), the Borrower unconditionally and irrevocably promises to pay to the Credit Facility Agent for the ratable account of each Working Capital Lender, on the

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Working Capital Loan Termination Date, an amount equal to the aggregate principal amount of all Working Capital Loans then-outstanding.

Section 4.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Payment Dates</u>. (a) Interest accrued on each Loan shall be payable, without duplication, on the following dates (each, an "*Interest Payment Date*"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any repayment or prepayment of principal on such Loan, on the date of each such repayment or prepayment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;on the Final Maturity Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;with respect to Working Capital Loans and LC Loans, the Working Capital Loan Termination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;with respect to SOFR Loans, (A) on the last day of each applicable Interest Period; *provided* that, in the case of any Interest Period that has a duration of more than three months, the Interest Payment Date in respect of such SOFR Loans shall also include each day that is three months (or an integral multiple thereof) after the first day of such Interest Period, and (B) if applicable, on any date on which such SOFR Loan is converted to a Base Rate Loan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;with respect to Base Rate Loans, on the last Business Day of each calendar quarter or, if applicable, any date on which such Base Rate Loan is converted to a SOFR Loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Interest accrued on the Loans or other monetary Loan Obligations after the date such amount is due and payable (whether on the Final Maturity Date or any CTA Payment Date upon acceleration or otherwise) shall be payable upon demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the occurrence of an event set forth in Section 15.1(d) (*Loan Facility Events of Default – Bankruptcy*) of the Common Terms Agreement and (to the extent <u>Section 9.01</u> (*Events of Default*) covers the events described in Section 15.1(d) (*Loan Facility Events of Default – Bankruptcy*) of the Common Terms Agreement), <u>Section 9.01</u> (*Events of Default*) of this Agreement.

Section 4.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Rates</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each SOFR Loan shall accrue interest at a rate per annum during each Interest Period applicable thereto equal to the sum of Term SOFR for such Interest Period plus the Applicable Margin for such Loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;On or before 1:00 p.m. at least three (3) U.S. Government Securities Business Days prior to the end of each Interest Period for each SOFR Loan, the Borrower shall deliver to the Credit Facility Agent an Interest Period Notice setting forth the Borrower's election with respect to the duration of the next Interest Period applicable to such SOFR Loan, which Interest Period shall be one (1), three (3) or six (6) months in length (or, if available to all applicable

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Lenders, such other periods as may be agreed by the Credit Facility Agent (including with respect to the Applicable Margin agreed to by all the Lenders with respect to any such Interest Period)); *provided* that, (i) if any Loan Facility Declared Default has occurred and is Continuing, all SOFR Loans shall convert into Base Rate Loans and (ii) if any Unmatured Loan Facility Event of Default has occurred and is Continuing at the end of the then-current Interest Periods, all SOFR Loans shall convert into SOFR Loans with an Interest Period of one (1) month, in each case, at the end of the then-current Interest Periods (in which case the Credit Facility Agent shall so notify the Borrower and the Lenders). After such Loan Facility Declared Default or Unmatured Loan Facility Event of Default has ceased, the Borrower may convert each such Base Rate Loan or SOFR Loan with an Interest Period of one month into a SOFR Loan in accordance with this Agreement by delivering an Interest Period Notice in accordance with <u>Section 4.06</u> (*Conversion Options*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If the Borrower fails to deliver an Interest Period Notice in accordance with <u>Section 4.05(b)</u> (*Interest Rates*) above with respect to any SOFR Loan, such SOFR Loan shall be made as, or converted into, a Base Rate Loan at the end of the then-current Interest Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each SOFR Loan shall bear interest from (and including) the first day of the applicable Interest Period to (but excluding) the last day of such Interest Period (or the date such Loan is converted to a Base Rate Loan) at the interest rate determined as applicable to such SOFR Loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained herein, the Borrower shall have, in the aggregate, no more than fifteen (15) separate SOFR Loans outstanding at any one time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Each Base Rate Loan shall accrue interest at a rate per annum equal to the sum of the Base Rate plus the Applicable Margin for such Loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;All Base Rate Loans shall bear interest from and including the date such Loan is made (or the day on which SOFR Loans are converted to Base Rate Loans in accordance with <u>Section 4.05(c)</u> (*Interest Rates*) or <u>4.06</u> (*Conversion Options*) or under Article V (*SOFR and Tax Provisions*)) to (but excluding) the date such Loan or portion thereof is paid at the interest rate determined as applicable to such Base Rate Loan (or the date such Loan is converted to a SOFR Loan).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;In connection with the use or administration of Term SOFR, the Credit Facility Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Finance Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Finance Document. The Credit Facility Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

Section 4.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Conversion Options</u>. The Borrower may elect from time to time to convert SOFR Loans to Base Rate Loans or Base Rate Loans to SOFR Loans (subject to <u>Sections 4.05(e)</u> 

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(*Interest Rates*), <u>5.01</u> (*Illegality*) and <u>5.02</u> (*Inability to Determine Applicable Interest Rate*)), as the case may be, by delivering a completed Interest Period Notice to the Credit Facility Agent notifying the Credit Facility Agent of such election no later than 12:00 noon on the third (3<sup>rd</sup>) Business Day preceding the proposed conversion date (which notice, in the case of conversions to SOFR Loans, shall specify the length of the initial Interest Period therefor); *provided* that, (i) no Base Rate Loan may be converted into a SOFR Loan when any Loan Facility Declared Default has occurred and is Continuing and (ii) no Base Rate Loan may be converted into a SOFR Loan with an Interest Period greater than one month when any Unmatured Loan Facility Event of Default has occurred and is Continuing and, in each case, the Credit Facility Agent has determined not to permit such conversions. Upon receipt of any such notice, the Credit Facility Agent shall promptly notify each relevant Lender thereof.

Section 4.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Post-Maturity Interest Rates; Default Interest Rates</u>. If all or a portion of the principal amount of any Loan is not paid when due (whether on the Final Maturity Date, by acceleration or otherwise, or in the case of LC Loans, the Working Capital Loan Termination Date or otherwise) or any Loan Obligation (other than principal on the Loans) is not paid or deposited when due (whether on the Final Maturity Date, by acceleration or otherwise), (a) all such overdue amounts of principal on the Loans shall bear interest at a rate *per annum* equal to the rate that would otherwise be applicable thereto plus the Default Rate and (b) all such other defaulted amounts of Loan Obligations (other than principal on the Loans) shall bear interest at a rate *per annum* equal to the rate then applicable to Base Rate Loans plus the Default Rate, from the date of such non-payment until the amount then due is paid in full (after as well as before judgment).

Section 4.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Rate Determination</u>. The Credit Facility Agent shall determine the interest rate applicable to the Loans and shall give prompt notice of such determination to the Borrower and the applicable Lenders. In each such case, the Credit Facility Agent's determination of the applicable interest rate shall be conclusive, in the absence of manifest error.

Section 4.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Computation of Interest and Fees</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All computations of interest for Base Rate Loans when the Base Rate is determined by the Credit Facility Agent's "prime rate" shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All computations of interest for SOFR Loans, and for Base Rate Loans when the Base Rate is determined by Term SOFR shall be made on the basis of a 360 day year and actual days elapsed. All computations of commissions or fees owed hereunder (other than Commitment Fees, Fronting Fees and LC Fees, which shall be computed in accordance with the provisions of <u>Section 4.15</u> (*Fees*) below) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed (including the first day but excluding the last day).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; *provided*, that, any Loan that is repaid on the same day on which it is made shall bear interest for one day.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each computation by the Credit Facility Agent of interest or fees hereunder shall be conclusive and binding for all purposes, absent manifest error.

Section 4.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Terms of All Prepayments</u>. The Borrower shall make prepayments of Loans and all reductions and cancellations of Commitments in accordance with the terms of Article 3 (*Repayment, Prepayment and Cancellation*) of the Common Terms Agreement and subject to the following terms and the terms of <u>Section 4.11</u> (*Voluntary Prepayments*) and <u>Section 4.12</u> (*Mandatory Prepayment*):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;upon the prepayment of any Loans (whether a voluntary prepayment, a mandatory prepayment or a prepayment upon acceleration or otherwise), the Borrower shall satisfy all applicable provisions under this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;together with any prepayment of Loans, the Borrower shall pay to the Credit Facility Agent, for the account of the applicable Lenders which made any Loan being prepaid, the sum of the following amounts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the principal of, and accrued but unpaid interest on, the Loans to be prepaid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any additional amounts required to be paid under <u>Section 5.05</u> (*Funding Losses*), which payment shall be made within the time period after the applicable prepayment as is permitted under the Common Terms Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any other Loan Obligations required to be paid to the respective Lenders in connection with any prepayment under the Finance Documents.

Section 4.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Voluntary Prepayment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may, in accordance with Section 3.5 (*Voluntary Prepayments*) of the Common Terms Agreement and on not less than three (3) Business Days' prior written notice (or, in the case of Replacement Debt, two (2) Business Days' prior written notice) to the Credit Facility Agent, prepay in whole or in part amounts outstanding under the Credit Facility Agreement, without penalty or premium (other than any costs incurred as set forth in *Section 5.05* (*Funding Losses*)); *provided* that, each voluntary prepayment of Loans shall be in incremental multiples of $1,000,000. Such notice may be conditional and subject to revocation as set forth in Section 3.5(b) (*Voluntary Prepayments*) of the Common Terms Agreement. If any such notice is revoked in accordance with Section 3.5(b) (*Voluntary Prepayments*) of the Common Terms Agreement, the Borrower shall pay any costs incurred by any Lender as a result of such notice and revocation, as set forth in Section 3.5(b) (*Voluntary Prepayments*) of the Common Terms Agreement. Prepayments of Working Capital Loans shall not result in any reduction in Working Capital Commitments, except to the extent prepaid in accordance with <u>Sections 4.12(b)(ii)</u>, <u>(iii)</u> and <u>(iv)</u> (*Mandatory Prepayment*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in Section 3.5(b) (*Voluntary Prepayments*) of the Common Terms Agreement, after the Borrower has delivered a notice of voluntary prepayment in

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accordance with <u>Section 4.11(a)</u> (*Voluntary Prepayment*) above, the prepayment date specified in the notice shall be deemed the due date for the principal amount (and the interest thereon) to be paid thereunder and should the Borrower fail to pay any such principal amount and/or interest and/or prepayment premium (if any), in accordance with Section 3.6 (*Prepayment Fees and Funding Losses*) of the Common Terms Agreement and <u>Section 5.05</u> (*Funding Losses*) due on such date, the Borrower shall pay interest on such overdue amounts in accordance with <u>Section 4.07</u> (*Post-Maturity Interest Rates; Default Interest Rates*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Section 3.7 (*Pro Rata Payment*) of the Common Terms Agreement and Section 2.3(a)(i)(B) (*Payments and Prepayments - Pro Rata Payment of Senior Debt Obligations*) of the Common Security and Account Agreement (i) any voluntary prepayment of Working Capital Loans or LC Loans may be made without a voluntary *pro rata* prepayment of Senior Debt under any other Senior Debt Instrument and (ii) any voluntary prepayment of Senior Debt under any other Senior Debt Instrument may be made without a voluntary *pro rata* prepayment of Working Capital Loans or LC Loans.

Section 4.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Mandatory Prepayment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall prepay, with three (3) Business Days' prior written notice to the Credit Facility Agent, the Term Loans as and when required under Section 3.4 (*Mandatory Prepayments*) and Section 3.7 (*Pro Rata Payment*) of the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall prepay, with three (3) Business Days' prior written notice to the Credit Facility Agent, the Working Capital Loans or LC Loans in accordance with Section 3.4 (*Mandatory Prepayments*) and Section 3.7 (*Pro Rata Payment*) of the Common Terms Agreement solely in the following circumstances:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;other than LC Loans incurred to fund a reimbursement obligation with respect to a drawing under a Letter of Credit, as needed to comply with <u>Section 4.03(a)</u> (*Repayment of Working Capital Advances*); *provided* that, for the avoidance of doubt, the Borrower shall not be required to cause any issued and outstanding Letters of Credit to be cancelled or returned;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;in accordance with Section 3.4(a)(iii) (*Mandatory Prepayments – LNG SPA Prepayment Events*) of the Common Terms Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;in accordance with Section 3.4(a)(vi) (*Mandatory Prepayments – Illegality*) of the Common Terms Agreement as a result of the occurrence of an Illegality Event with respect to a Working Capital Lender; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;in accordance with Section 3.4(a)(x) (*Mandatory Prepayments – Replacement Debt*) of the Common Terms Agreement in the event and to the extent the additional debt triggering such prepayment has been incurred to replace such Working Capital Loans and/or LC Loans.

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Working Capital Commitments shall be cancelled in the case of the mandatory prepayments set forth in clauses (ii) and (iv) above as provided in Sections 3.4(a)(iii) (*Mandatory Prepayments – LNG SPA Prepayment Events*) and 3.4(a)(x) (*Mandatory Prepayments – Replacement Debt*) of the Common Terms Agreement, respectively, and shall be suspended in the case of the mandatory prepayment set forth in clause (iii) above as provided in Section 3.4(a)(vi) (*Mandatory Prepayments – Illegality*) of the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Application of Prepayments of Loans to Base Rate Loans and SOFR Loans*. Any prepayment of Loans of a Lender pursuant to this <u>Section 4.12</u> *(Mandatory Prepayment)* shall be applied *first* to such Lender's Base Rate Loans to the full extent thereof and *second* to such Lender's SOFR Loans.

Section 4.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Time and Place of Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in <u>Section 3.02(b)</u> (*Reimbursement to Issuing Banks*), the Borrower shall make each payment (including any payment of principal of or interest on any Loan or any Fees or other Loan Obligations) hereunder without set-off, deduction or counterclaim not later than 12:00 noon New York City time on the date when due in US Dollars and, in immediately available funds, to the Credit Facility Agent at the account set forth in <u>Schedule IV</u> (*Credit Facility Agent Account Details*) or at such other office or account as may from time to time be specified by the Credit Facility Agent to the Borrower. Funds received after 12:00 noon New York City time may, at the Credit Facility Agent's discretion, be deemed to have been received by the Credit Facility Agent on the next succeeding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent shall promptly remit in immediately available funds to each Credit Facility Secured Party its share, if any, of any payments received by the Credit Facility Agent for the account of such Credit Facility Secured Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Whenever any payment (including any payment of principal of or interest on any Term Loan or any Fees or other Loan Obligations) hereunder shall become due, or otherwise would occur, on a day that is not a Business Day, such payment shall (except as otherwise required by the proviso to the definition of "Interest Period" with respect to SOFR Loans and in the case of the Final Maturity Date, in which case the due date for payment shall be the immediately preceding Business Day) be made on the immediately succeeding Business Day, and such increase of time shall in such case be included in the computation of interest or Fees, if applicable.

Section 4.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Advances and Payments Generally</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in <u>Section 3.02(b)</u> (*Reimbursement to Issuing Banks*), unless the Credit Facility Agent has received notice from the Borrower prior to the date on which any payment is due to the Credit Facility Agent for the account of the Lenders or any Issuing Bank hereunder that the Borrower will not make such payment, the Credit Facility Agent may assume that the Borrower has made such payment on such date in accordance with this Agreement and may, in reliance upon such assumption, distribute to the Lenders or the applicable Issuing Bank(s) the amount due. If the Borrower has not in fact made such payment, then each of the

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Lenders or the applicable Issuing Bank(s) severally agrees to repay to the Credit Facility Agent forthwith on demand the amount so distributed to such Lender in immediately available funds with interest thereon, for each day from (and including) the date such amount is distributed to it to (but excluding) the date of payment to the Credit Facility Agent, at the Federal Funds Effective Rate. A notice of the Credit Facility Agent to any Lender or Issuing Bank with respect to any amount owing under this <u>Section 4.14</u> (*Advances and Payments Generally*) shall be conclusive, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Nothing herein shall be deemed to obligate any Lender or Issuing Bank to obtain funds for any Loan or Letter of Credit reimbursement obligation in any particular place or manner or to constitute a representation by any Lender or Issuing Bank that it has obtained or will obtain funds for any Loan in any particular place or manner.

Section 4.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Fees</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;From and including the Closing Date until the end of the Term Loan Availability Period or with respect to any Term Lender, until the date on which such Term Lender's Term Loan Commitments are terminated (solely to the extent of such terminated Term Loan Commitments), the Borrower agrees to pay to the Credit Facility Agent, for the account of the Term Lenders, on each CTA Payment Date beginning on the first CTA Payment Date that is also an Interest Payment Date and on the last day of the Term Loan Availability Period, a commitment fee (a "*Term Loan Commitment Fee*") on the daily average amount by which the Term Loan Commitments exceed the aggregate outstanding principal amount of the Term Loans during the relevant fiscal quarter (or portion thereof) then ended at a rate per annum equal to the Commitment Fee Rate. Notwithstanding the foregoing, the Borrower will not be required to pay any Term Loan Commitment Fee to any Term Lender with respect to any period in which such Term Lender was a Defaulting Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;From and including the Closing Date until the Working Capital Loan Termination Date, the Borrower agrees to pay to the Credit Facility Agent, for the account of each Working Capital Lender, on each CTA Payment Date beginning on the first CTA Payment Date that is also an Interest Payment Date and on the Working Capital Loan Termination Date, a commitment fee (a "*Working Capital Commitment Fee*" and, together with the Term Loan Commitment Fee, the "*Commitment Fees*") on the daily average amount of such Working Capital Lender's unused Working Capital Commitment at a rate per annum equal to the Commitment Fee Rate. Notwithstanding the foregoing, the Borrower will not be required to pay any Working Capital Commitment Fee to any Working Capital Lender with respect to any period in which such Working Capital Lender was a Defaulting Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees to pay to the Credit Facility Agent for the account of each Working Capital Lender, on each CTA Payment Date beginning on the first CTA Payment Date that is also an Interest Payment Date commencing on the first such date to occur following the date of issuance of any Letter of Credit hereunder, and on the Working Capital Loan Termination Date, a letter of credit fee (the "*LC Fee*") on (i) the average daily aggregate amount of such Working Capital Lender's Commitment Percentage of the LC Available Amount, if any, of all Fronted Letters of Credit, and (ii) the average daily aggregate amount of the LC Available

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Amount, if any, of any Non-Fronted Letters of Credit issued by such Working Capital Lender in its capacity as an Issuing Bank, each at a rate per annum equal to the LC Fee Rate; *provided* that, upon the occurrence and during the continuance of a Loan Facility Event of Default, with respect to any outstanding Letters of Credit which are not cash collateralized pursuant to <u>Section 9.05</u> (*Application of Proceeds*), such LC Fee shall be increased by 2.0% per annum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees to pay to each Issuing Bank, on each CTA Payment Date beginning on the first CTA Payment Date that is also an Interest Payment Date commencing on the first such date to occur following the date of issuance of such Letter of Credit hereunder, and on the Working Capital Loan Termination Date, a letter of credit fronting fee (the "*Fronting Fee*") in an amount equal to 0.20% per annum of the aggregate LC Available Amount of each Fronted Letter of Credit issued by such Issuing Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees to pay or cause to be paid to the Credit Facility Agent for the account of the Lenders and the Credit Facility Agent, additional fees in the amounts and at the times from time to time agreed to by the Borrower and the Credit Facility Agent, including pursuant to each fee letter with an Initial Coordinating Lead Arranger, Coordinating Lead Arranger, Senior Managing Agent, Closing Date Participant, Syndication Agent or Documentation Bank (as applicable) and any other fee letters entered into by the Borrower with any of the Lenders from time to time in respect of the Credit Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;All Fees shall be paid on the dates due in immediately available funds. Once paid, none of the Fees shall be refundable under any circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;All Commitment Fees, Fronting Fees and LC Fees shall be computed on the basis of 360-day year, as prorated for any partial quarter, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall not be liable to pay any Lender or Issuing Bank any upfront fees, fronting fees or agent fees, nor shall it be liable to pay any other fees, costs, expenses or charges with respect to the transactions contemplated under this Agreement, other than as may be specifically stated in this Agreement, the Fee Letters or any other agreement in writing between such Lender or Issuing Bank and the Borrower.

Section 4.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Pro Rata Treatment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The portion of any Type of Loan or Advance made shall be allocated by the Credit Facility Agent among the applicable Lenders such that, following each Loan or Advance, the ratio of each Lender's outstanding Commitments of such Type to the outstanding Aggregate Commitment of such Type is equal to each Lender's respective Commitment Percentage of such Type.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in <u>Section 5.01</u> (*Illegality*), each reduction of Commitments of any Type, pursuant to <u>Section 2.07</u> (*Termination or Reduction of Commitments*) or otherwise, shall be allocated by the Credit Facility Agent *pro rata* among the applicable Lenders in accordance with, and subject to the exceptions in, <u>Section 2.07</u> 

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(*Termination or Reduction of Commitments*) and Section 3.8 (*Reductions and Cancellations of Facility Debt Commitments*) of the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in <u>Section 2.07(b)(C)</u> (*Termination or Reduction of Commitments*), each reduction in Issuing Bank Limits shall be allocated by the Credit Facility Agent *pro rata* among the Issuing Banks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise required under Section 3.7 (*Pro Rata Payment*) of the Common Terms Agreement and <u>Section 4.11</u> (*Voluntary Prepayment*), <u>Section 4.12</u> (*Mandatory Prepayment*) or <u>Article V</u> (*SOFR and Tax Provisions*), (i) each payment or prepayment of principal of a Type of Loans shall be allocated by the Credit Facility Agent *pro rata* among the applicable Lenders in accordance with the respective principal amounts of their outstanding Loans of such Type (other than Defaulting Lenders), (ii) each payment of interest on a Type of Loans shall be allocated by the Credit Facility Agent *pro rata* among the applicable Lenders in accordance with the respective interest amounts outstanding on their Loans of such Type (other than Defaulting Lenders) and (iii) each payment of the Commitment Fees shall be allocated by the Credit Facility Agent *pro rata* among the applicable Lenders in accordance with their respective Term Loan Commitments or Working Capital Commitments (other than Defaulting Lenders), as applicable.

Section 4.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Sharing of Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender or Issuing Bank obtains any payment or other recovery (whether voluntary, involuntary, by application of setoff or otherwise) on account of any Type of Loan (other than pursuant to the terms of <u>Article V</u> (*SOFR and Tax Provisions*) or <u>Section 4.16</u> (*Pro Rata Treatment*)) in excess of its *pro rata* share of payments then or therewith obtained by all Lenders holding Loans of such Type, such Lender or Issuing Bank shall purchase from the other applicable Lenders (for cash at face value) such participations in Loans of such Type made by them as shall be necessary to cause such purchasing Lender to share the excess payment or other recovery ratably with each of them; *provided* that, if all or any portion of the excess payment or other recovery is thereafter recovered from such purchasing Lender or Issuing Bank, the purchase shall be rescinded and each Lender that has sold a participation to the purchasing Lender or Issuing Bank shall repay to the purchasing Lender or Issuing Bank the purchase price to the ratable extent of such recovery together with an amount equal to such selling Lender's ratable share (according to the proportion of (i) the amount of such selling Lender's required repayment to the purchasing Lender or Issuing Bank to (ii) the total amount so recovered from the purchasing Lender or Issuing Bank) of any interest or other amount paid or payable by the purchasing Lender or Issuing Bank in respect of the total amount so recovered. The Borrower agrees that any Lender or Issuing Bank so purchasing a participation from another Lender pursuant to this <u>Section 4.17(a)</u> (*Sharing of Payments*) may, to the fullest extent permitted by law, exercise all its rights of payment (including pursuant to <u>Section 11.13</u> (*Right of Set-Off*)) with respect to such participation as fully as if such Lender or Issuing Bank were the direct creditor of the Borrower in the amount of such participation. The provisions of this <u>Section 4.17</u> (*Sharing of Payments*) shall not be construed to apply to any payment by the Borrower pursuant

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to and in accordance with the express terms of this Agreement or any payment obtained by any Lender as consideration for the assignment or sale of a participation in any of its Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If under any applicable bankruptcy, insolvency or other similar law, any Lender receives a secured claim in lieu of a setoff to which this <u>Section 4.17</u> (*Sharing of Payments*) applies, such Lender shall, to the extent practicable, exercise its rights in respect of such secured claim in a manner consistent with the rights of the Lenders entitled under this <u>Section 4.17</u> (*Sharing of Payments*) to share in the benefits of any recovery on such secured claim.

Section 4.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Defaulting Lenders</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law, any payment of principal, interest, fees or other amounts received by the Credit Facility Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to <u>Article IX</u> (*Default and Enforcement*) or otherwise) shall be applied at such time or times as may be determined by the Credit Facility Agent as follows: *first*, to the payment of any amounts owing by such Defaulting Lender to the Credit Facility Agent hereunder or under any other Finance Document; *second*, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to any Issuing Bank hereunder; *third*, to cash collateralize the Issuing Banks' Fronting Exposure, if any, with respect to such Defaulting Lender in accordance with the procedures set forth in <u>Section 9.03(a)</u> (*Action Upon Event of Default*); *fourth*, as the Borrower may request (so long as no Loan Facility Event of Default or Unmatured Loan Facility Event of Default exists), to the funding of any Advance or Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Credit Facility Agent; *fifth*, if so determined by the Credit Facility Agent and the Borrower, to be held in a deposit account and released pro rata in order to (i) satisfy such Defaulting Lender's potential future funding obligations with respect to Advances or Loans under this Agreement and (ii) cash collateralize the Issuing Banks' future Fronting Exposure, if any, with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement in accordance with the procedures set forth in <u>Section 9.03(a)</u> (*Action Upon Event of Default*); *sixth*, to the payment of any amounts owing to the Lenders or the Issuing Banks as a result of any judgment of a court of competent jurisdiction obtained by any Lender or any Issuing Bank against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; *seventh*, so long as no Loan Facility Event of Default or Unmatured Loan Facility Event of Default has occurred and is continuing, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; and *eighth*, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; *provided* that, if (A) such payment is a payment of the principal amount of any Loans in respect of which such Defaulting Lender has not fully funded its appropriate share, and (B) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in <u>Section 7.01</u> (*Conditions to Closing*), <u>Section 7.02</u> (*Conditions to Each Term Loan Advance*) or <u>Section 7.03</u> (*Conditions to Each Working Capital Advance*), as

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applicable, were satisfied or waived, such payment shall be applied solely to pay the Loans owed to all Non-Defaulting Lenders on a *pro rata* basis prior to being applied to the payment of any Loans owed to such Defaulting Lender until such time as all Loans and funded and unfunded participations in Letters of Credit are held by the Lenders pro rata in accordance with their applicable Commitments without giving effect to <u>Section 4.18(b)</u> (*Defaulting Lenders*). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to this <u>Section 4.18</u> (*Defaulting Lenders*) shall be deemed paid to and redirected by such Defaulting Lender, and such Defaulting Lender irrevocably consents hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;All or any part of such Defaulting Lender's participation in LC Exposure shall be reallocated *pro rata* among the Non-Defaulting Lenders in accordance with their respective Commitment Percentages (calculated without regard to such Defaulting Lender's Working Capital Commitment) but only to the extent that (i) the conditions set forth in Section 4.3(c) (*Conditions to Each Advance under the Working Capital Facility – Absence of Default*) and Section 4.3(d) (*Conditions to Each Advance under the Working Capital Facility – Representations and Warranties*) of the Common Terms Agreement are satisfied at the time of such reallocation, and (ii) such reallocation does not cause the sum of the outstanding principal amount of the Working Capital Loans, LC Loans and the LC Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender's Working Capital Commitment. No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender's increased exposure following such reallocation. If the reallocation described in this <u>Section 4.18(b)</u> (*Defaulting Lenders*) cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, cash collateralize the Issuing Banks' Fronting Exposure on account of such Defaulting Lender (after giving effect to partial reallocations) in accordance with the procedures set forth in <u>Section 9.03(a)</u> (*Action Upon Event of Default*); *provided* that, the Borrower shall have sixty (60) days from receipt of written notice by the Credit Facility Agent that the reallocation described in this <u>Section 4.18(b)</u> (*Defaulting Lenders*) cannot, or can only partially, be effected, to cash collateralize the Issuing Banks' Fronting Exposure in accordance with this <u>Section 4.18(b)</u> (*Defaulting Lenders*), so long as no Loan Facility Event of Default shall have occurred and be continuing during such period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If the Borrower, the Credit Facility Agent and the Issuing Banks agree in writing that a Lender is no longer a Defaulting Lender, the Credit Facility Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any cash collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Credit Facility Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit to be held *pro rata* by the Lenders in accordance with the relative amounts of their applicable Commitments (without giving effect to <u>Section 4.18(b)</u> (*Defaulting Lenders*)), whereupon such Lender will cease to be a Defaulting Lender; *provided* that, no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower

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while that Lender was a Defaulting Lender; and *provided further* that, except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Non-Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender's having been a Defaulting Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;So long as any Lender is a Defaulting Lender, no Issuing Bank shall be required to issue, amend, extend, renew or increase any Letter of Credit to the extent the reallocation described in <u>Section 4.18(b)</u> (*Defaulting Lenders*) cannot be effected or the Borrower has not cash collateralized such Issuing Bank's Fronting Exposure with respect to such Defaulting Lender.

ARTICLE V<br>SOFR AND TAX PROVISIONS

Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Illegality</u>. If any Lender determines that any applicable law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable lending office to make, maintain or fund Loans whose interest is determined by reference to SOFR, the Term SOFR Reference Rate or Term SOFR, or to determine or charge interest based upon SOFR, the Term SOFR Reference Rate or Term SOFR, then, upon notice thereof by such Lender to the Borrower (through the Credit Facility Agent) (an "*Illegality Notice*"), (a) any obligation of the Lenders to make SOFR Loans, and any right of the Borrower to continue SOFR Loans or to convert Base Rate Loans to SOFR Loans, shall be suspended, and (b) the interest rate on which Base Rate Loans shall, if necessary to avoid such illegality, be determined by the Credit Facility Agent without reference to clause (c) of the definition of "Base Rate," in each case, until each affected Lender notifies the Credit Facility Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of an Illegality Notice, the Borrower shall, if necessary to avoid such illegality, upon demand from any Lender (with a copy to the Credit Facility Agent), prepay or, if applicable, convert all SOFR Loans to Base Rate Loans (the interest rate on which Base Rate Loans shall, if necessary to avoid such illegality, be determined by the Credit Facility Agent without reference to clause (c) of the definition of "Base Rate"), on the last day of the Interest Period therefor, if all affected Lenders may lawfully continue to maintain such SOFR Loans to such day, or immediately, if any Lender may not lawfully continue to maintain such SOFR Loans to such day, in each case until the Credit Facility Agent is advised in writing by each affected Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon SOFR, the Term SOFR Reference Rate or Term SOFR. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted, together with any additional amounts required pursuant to <u>Section 5.05</u> (*Funding Losses*).

Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Inability to Determine Applicable Interest Rate</u>. Subject to <u>Section 5.07</u> (*Replacement Benchmark Setting*), if, on or prior to the first day of any Interest Period for any SOFR Loan:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Credit Facility Agent determines (which determination shall be conclusive and binding absent manifest error) that "Term SOFR" cannot be determined pursuant to the definition thereof, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Required Lenders determine that for any reason in connection with any request for a SOFR Loan or a conversion thereto or a continuation thereof that Term SOFR for any requested Interest Period with respect to a proposed SOFR Loan does not adequately and fairly reflect the cost to such Lenders of making and maintaining such SOFR Loan, and the Required Lenders have provided notice of such determination to the Credit Facility Agent,

the Credit Facility Agent will promptly so notify the Borrower and each Lender.

Upon notice thereof by the Credit Facility Agent to the Borrower, any obligation of the Lenders to make SOFR Loans, and any right of the Borrower to continue SOFR Loans or to convert Base Rate Loans to SOFR Loans, shall be suspended (to the extent of the affected SOFR Loans or affected Interest Periods) until the Credit Facility Agent (with respect to clause (b) above, at the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, (i) the Borrower may revoke any pending request for a borrowing of, conversion to or continuation of SOFR Loans (to the extent of the affected SOFR Loans or affected Interest Periods) or, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans in the amount specified therein and (ii) any outstanding affected SOFR Loans will be deemed to have been converted into Base Rate Loans at the end of the applicable Interest Period. Upon any such conversion, the Borrower shall also pay accrued interest on the amount so converted, together with any additional amounts required pursuant to <u>Section 5.05</u> (*Funding Losses*). Subject to <u>Section 5.07</u> (*Replacement Benchmark Setting*), if the Credit Facility Agent determines (which determination shall be conclusive and binding absent manifest error) that "Term SOFR" cannot be determined pursuant to the definition thereof on any given day, the interest rate on Base Rate Loans shall be determined by the Credit Facility Agent without reference to clause (c) of the definition of "Base Rate" until the Credit Facility Agent revokes such determination.

Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Increased Costs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender or Issuing Bank incurs additional costs or suffers a reduction, in each case, as described in Section 22.1(a) (*Increased Costs*) of the Common Terms Agreement, the Borrower shall compensate such Lender or Issuing Bank in accordance with Section 22.1(a) (*Increased Costs*) of the Common Terms Agreement (except to the extent the Borrower is excused from payment pursuant to <u>Section 5.04</u> (*Obligation to Mitigate*)). In determining the amount of such compensation, such Lender or Issuing Bank may, subject to Section 22.1(e) (*Increased Costs*) of the Common Terms Agreement, use any method of averaging and attribution that it (in its sole discretion) shall deem appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender or Issuing Bank or Lender's or Issuing Bank's holding company has suffered or would suffer a reduced rate of return as described in Section 22.1(b) (*Increased Costs*) of the Common Terms Agreement, the Borrower shall compensate such Lender or Issuing Bank or (without duplication) such Lender's or Issuing Bank's holding company in accordance

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with Section 22.1(b) (*Increased Costs*) of the Common Terms Agreement (except to the extent the Borrower is excused from payment pursuant to <u>Section 5.04</u> (*Obligation to Mitigate*)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;To claim any amount under this <u>Section 5.03</u> (*Increased Costs*), the Credit Facility Agent or a Lender or Issuing Bank, as applicable, shall promptly deliver a certificate in accordance with Section 22.1(c) (*Increased Costs*) of the Common Terms Agreement (with a copy to the Credit Facility Agent, if delivered by a Lender or Issuing Bank). The Borrower shall pay the Credit Facility Agent or Lender or Issuing Bank, as applicable, in accordance with Section 22.1(c) (*Increased Costs*) of the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Promptly after the Credit Facility Agent or Lender or Issuing Bank, as applicable, has determined that it will make a request for increased compensation pursuant to this <u>Section 5.03</u> (*Increased Costs*), such Person shall notify the Borrower thereof (with a copy to the Credit Facility Agent and the Intercreditor Agent). Failure or delay on the part of the Credit Facility Agent or Lender or Issuing Bank to demand compensation pursuant to this <u>Section 5.03</u> (*Increased Costs*) shall not constitute a waiver of such Person's right to demand such compensation; *provided* that, the Borrower shall not be required to compensate a Person pursuant to this <u>Section 5.03</u> (*Increased Costs*) for any increased costs or reductions outside of the period referred to in Section 22.1(d) (*Increased Costs*) of the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provision in this Agreement, no Lender or Issuing Bank shall demand compensation pursuant to this <u>Section 5.03</u> (*Increased Costs*) in the circumstances described in Section 22.1(e) (*Increased Costs*) of the Common Terms Agreement.

Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Obligation to Mitigate</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender or Issuing Bank requests compensation under <u>Section 5.03</u> (*Increased Costs*), or if the Borrower is required to pay any additional amount to any Lender or Issuing Bank or any Governmental Authority for the account of any Lender or Issuing Bank pursuant to <u>Section 5.06</u> (*Taxes*), then such Lender or Issuing Bank shall have an obligation to mitigate such compensation in accordance with Section 19.5(a) (*Mitigation Obligations; Replacement of Lenders*) of the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower may require a Lender or Issuing Bank to assign and delegate (in accordance with and subject to the restrictions contained in <u>Section 11.04</u> (*Assignments*)) its interests, rights and obligations under this Agreement and the related Finance Documents in accordance with Section 19.5(c) (*Mitigation Obligations; Replacement of Lenders*) of the Common Terms Agreement. Nothing in this <u>Section 5.04</u> (*Obligation to Mitigate*) shall be deemed to prejudice any rights that the Borrower, the Credit Facility Agent or any Lender or any Issuing Bank may have against any Lender or Issuing Bank that is a Defaulting Lender. Notwithstanding anything in this <u>Section 5.04</u> (*Obligation to Mitigate*) to the contrary, any Working Capital Lender that acts as an Issuing Bank may not be replaced hereunder at any time it has any Letter of Credit outstanding hereunder unless arrangements satisfactory to such Working Capital Lender (including the furnishing of a backstop standby letter of credit in form and substance, and issued by an issuer, reasonably satisfactory to such Issuing Bank and/or the depositing of cash collateral into a cash collateral account in amounts and pursuant to

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arrangements reasonably satisfactory to such Issuing Bank) have been made with respect to such outstanding Letter of Credit.

Section 5.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Funding Losses</u>. The Borrower shall compensate each Lender, upon written request by such Lender (which request shall set forth the basis for requesting such amounts in reasonable detail), for all reasonable losses, expenses and liabilities (including any interest paid or payable by such Lender to Lenders of funds borrowed by it to make or carry its SOFR 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: (a) if for any reason (other than a default by such Lender) a borrowing of any SOFR Loan does not occur on a date specified therefor in a Disbursement Request or other written request for borrowing, or a conversion to or continuation of any SOFR Loan does not occur on a date specified therefor in an Interest Period Notice or a written request for conversion or continuation; (b) if any prepayment or other principal payment of, or any conversion of, any of its SOFR Loans occurs on a date prior to the last day of an Interest Period applicable to that Loan; (c) if any prepayment of any of its SOFR Loans is not made on any date specified in a notice of prepayment given by the Borrower; or (d) if any SOFR Loan is converted other than on the last day of the Interest Period applicable thereto (including as a result of a Loan Facility Event of Default).

Section 5.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. Any and all payments on account of any Loan Obligations shall be made in accordance with the provisions of Article 21 (*Tax Gross-up and Indemnities*) of the Common Terms Agreement.

Section 5.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Replacement Benchmark Setting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Benchmark Replacement*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary herein or in any other Finance Document, upon the occurrence of a Benchmark Transition Event, the Credit Facility Agent and the Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the Credit Facility Agent has posted such proposed amendment to all affected Lenders and the Borrower so long as the Credit Facility Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this <u>Section 5.07(a)(i)</u> (*Benchmark Replacement*) will occur prior to the applicable Benchmark Transition Start Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;No Interest Rate Hedging Instrument shall be deemed to be a "Finance Document" for purposes of this <u>Section 5.07(a)(ii)</u> (*Benchmark Replacement*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Benchmark Replacement Conforming Changes*. In connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Credit Facility Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Finance Document, any amendments

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implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Finance Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Notices; Standards for Decisions and Determinations*. The Credit Facility Agent will promptly notify the Borrower and the Lenders of (i) the implementation of any Benchmark Replacement and (ii) the effectiveness of any Conforming Changes in connection with the use, administration, adoption or implementation of a Benchmark Replacement. The Credit Facility Agent will promptly notify the Borrower of (A) the removal or reinstatement of any tenor of a Benchmark pursuant to <u>Section 5.07(d)</u> (*Unavailability of Tenor of Benchmark*) and (B) the commencement of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Credit Facility Agent or, if applicable, any Lender (or group of Lenders) pursuant to this <u>Section 5.07</u> (*Replacement Benchmark Setting*), including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Finance Document, except, in each case, as expressly required pursuant to this <u>Section 5.07</u> (*Replacement Benchmark Setting*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Unavailability of Tenor of Benchmark*. Notwithstanding anything to the contrary herein or in any other Finance Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Reference Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Credit Facility Agent in its reasonable discretion or (B) the administrator of such Benchmark or the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is not or will not be representative or in compliance with or aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks, then the Credit Facility Agent may modify the definition of Interest Period (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable, non-representative, non-compliant or non-aligned tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is not or will not be representative or in compliance with or aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks for a Benchmark (including a Benchmark Replacement), then the Credit Facility Agent may modify the definition of "Interest Period" (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Benchmark Unavailability Period*. Upon the Borrower's receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a SOFR borrowing of, conversion to or continuation of SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or

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conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Tax Matters*. The Credit Facility Agent will use commercially reasonable efforts to cooperate with the Borrower to effectuate the terms of this <u>Section 5.07</u> (*Replacement Benchmark Setting*) and any resulting modification of the terms with the goal of avoiding a deemed exchange under Section 1001 of the Code.

ARTICLE VI<br>REPRESENTATIONS AND WARRANTIES

Section 6.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Incorporation of Common Terms Agreement</u>. The representations and warranties of the Obligors set forth in Article 5 (*Representations and Warranties of the Obligors*) of the Common Terms Agreement have been made to and for the benefit of each of the Lenders and shall apply *mutatis mutandis* to this <u>Article VI</u> as if fully set forth herein.

ARTICLE VII<br>CONDITIONS PRECEDENT

Section 7.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to Closing</u>. The occurrence of the Closing, the effectiveness of the Lenders' Commitments, the obligation of each of the Lenders to make available its Initial Advance and the obligation of the Issuing Banks to issue any Letters of Credit on the Closing Date shall be subject to the satisfaction (or waiver by each of the Lenders and each of the Issuing Banks) of each of the conditions precedent set forth in Section 4.1 (*Conditions to Closing Date and Initial Advance*) of the Common Terms Agreement, which conditions precedent are incorporated by reference and shall apply *mutatis mutandis* to this <u>Section 7.01</u> (*Conditions to Closing*) as if fully set forth herein.

Section 7.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to Each Term Loan Advance</u>. The obligation of each Term Lender to make any Advance of Term Loans shall be subject to the satisfaction (or waiver by the Credit Facility Agent acting on the instruction of the Required Term Lenders), prior to the making of such Advance, of each of the conditions precedent (and in the case of any Advance of Term Loans other than the Initial Advance, no others) set forth in Section 4.2 (*Conditions to Each Term Loan Advance*) of the Common Terms Agreement, which conditions precedent are incorporated by reference and shall apply *mutatis mutandis* to this <u>Section 7.02</u> (*Conditions to Each Term Loan Advance*) as if fully set forth herein.

Section 7.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to Each Working Capital Advance</u>. The obligation of (i) any Issuing Bank to issue Letters of Credit (or extend the maturity thereof (other than any automatic extension thereunder) or modify or amend the terms thereof) and (ii) the Working Capital Lenders to make available Working Capital Loans, in each case, subsequent to the Closing Date is subject to the satisfaction (or waiver by the Credit Facility Agent acting on the instruction of

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the Required Working Capital Lenders and the relevant Issuing Banks, as applicable), prior to issuing such Letter of Credit (or extension, modification or amendment thereof) or to the making of such Working Capital Advance, of each of the conditions precedent set forth in Section 4.3 (*Conditions to Each Advance under the Working Capital Facility*) of the Common Terms Agreement, which conditions precedent are incorporated by reference and shall apply *mutatis mutandis* to this <u>Section 7.03</u> (*Conditions to Each Working Capital Advance*) as if fully set forth herein.

Section 7.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to Occurrence of the Project Phase 1 Completion Date</u>.

The occurrence of the Project Phase 1 Completion Date is subject to the satisfaction of each of the conditions (or waiver by the Credit Facility Agent acting on the instruction of the Required Lenders) of the conditions precedent set forth in Section 14.1 (*Conditions to Occurrence of the Project Phase 1 Completion Date*) of the Common Terms Agreement, which conditions precedent are incorporated by reference and shall apply *mutatis mutandis* to this <u>Section 7.04</u> (*Conditions to Occurrence of the Project Phase 1 Completion Date*) as if fully set forth herein.

ARTICLE VIII<br>COVENANTS

Section 8.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Covenants</u>. The covenants of the Obligors set forth in Article 6 (*Incurrence of Additional Senior Debt*), Article 7 (*Permitted Development Expenditures/Expansions*), Article 8 (*LNG SPA Covenants*), Article 9 (*Material Construction Contracts*), Article 10 (*Reporting by the Borrower*), Article 11 (*Restricted Payments*), Article 12 (*Obligor Covenants*), Article 13 (*Consultants*), Section 14.2 (*Project Phase 1 Completion Date Waterfall*) and Article 20 (*Subordination*) of the Common Terms Agreement have been made to and for the benefit of each of the Lenders and shall apply *mutatis mutandis* to this <u>Article VIII</u> as if fully set forth herein.

ARTICLE IX<br>DEFAULT AND ENFORCEMENT

Section 9.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Events of Default</u>. The occurrence of any Loan Facility Event of Default under the Common Terms Agreement shall constitute an event of default under this Agreement, subject to all of the relevant provisions of the Common Terms Agreement.

Section 9.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Acceleration Upon Bankruptcy</u>. If any Loan Facility Event of Default described in Section 15.1(d) (*Loan Facility Events of Default – Bankruptcy*) of the Common Terms Agreement occurs, all outstanding Commitments, if any, shall automatically terminate and the outstanding principal amount of the outstanding Loans and all other Loan Obligations shall automatically be and become immediately due and payable, in each case without notice, demand or further act of the Credit Facility Agent, the Lenders, the Intercreditor Agent, the Collateral Agent or any other Credit Facility Secured Party in accordance with Section 16.1(b)

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(*Facility Lender Remedies for Loan Facility Declared Events of Default - Initiating Percentage for Enforcement Action with Respect to Collateral*) of the Common Terms Agreement.

Section 9.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Action Upon Event of Default</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If any Loan Facility Event of Default under the Common Terms Agreement or this Agreement occurs and is Continuing, the Lenders and the Issuing Banks may, by decision of the Required Lenders (i) instruct the Credit Facility Agent, as Senior Creditor Group Representative for the Lenders and the Issuing Banks, to further instruct the Intercreditor Agent to declare that a Loan Facility Declared Default has occurred under this Agreement in accordance with Section 15.2(a) (*Declaration of Loan Facility Declared Default*) of the Common Terms Agreement and (ii) thereafter, subject to the Intercreditor Agreement and the Common Security and Account Agreement, exercise, or instruct the Intercreditor Agent to exercise, any Enforcement Action provided under Section 16.1 (*Facility Lender Remedies for Loan Facility Declared Events of Default*) of the Common Terms Agreement (including, subject to the Common Terms Agreement and the Common Security and Account Agreement, requiring the Borrower to deposit with the Credit Facility Agent an amount in the LC Cash Collateral Account equal to one hundred two percent (102%) of the amount available to be drawn under all Letters of Credit then outstanding), each of which is incorporated by reference and shall apply *mutatis mutandis* to this Section 9.03 (*Action Upon Event of Default*) as if fully set forth herein; *provided* that, nothing herein shall, upon the occurrence of a Loan Facility Event of Default under Section 15.1(d) (*Loan Facility Events of Default – Bankruptcy*) of the Common Terms Agreement, require any certification, declaration or other notice prior to the deemed declaration of such Loan Facility Declared Default or the acceleration of the Loans in connection with the occurrence thereof as provided under Section 16.1(b) (*Facility Lender Remedies for Loan Facility Declared Events of Default - Initiating Percentage for Enforcement Action with Respect to Collateral*) of the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 10.5 (*Certain Agreements with Respect to Bankruptcy*) of the Common Security and Account Agreement, following commencement of any Bankruptcy Proceeding by or against either Obligor or Pledgor, any Lender may: (i) file a claim or statement of interest with respect to (and to the extent of) the Senior Debt Obligations (if any) owed by such person to such Lender or Issuing Bank in accordance with the Finance Documents, (ii) vote on any plan of reorganization and (iii) make other filings, arguments, objections and motions in connection with such Bankruptcy Proceeding, in each case in accordance with the terms of the Finance Documents (other than any requirement for an intercreditor vote to take such action).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Any termination and acceleration made pursuant to this <u>Section 9.03</u> (*Action Upon Event of Default*) and Section 16.1(a)(ii) (*Facility Lender Remedies for Loan Facility Declared Event of Default – Enforcement Action*) of the Common Terms Agreement may, should the Required Lenders in their sole and absolute discretion so elect, be rescinded by written notice to the Borrower at any time after the principal of the Loans has become due and payable, but before any judgment or decree for the payment of the monies so due, or any part thereof, has been entered; *provided* that, no such rescission or annulment shall extend to or affect any subsequent Loan Facility Event of Default or impair any right consequent thereon.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;An event of default under this Credit Facility Agreement shall be deemed to be declared, in respect of any Loan Facility Event of Default referred to in Section 15.1(d) (*Loan Facility Events of Default – Bankruptcy*) of the Common Terms Agreement, immediately and automatically upon its occurrence, without the requirement for any certification, declaration or other notice from a Term Lender or the Intercreditor Agent or any Senior Creditor in accordance with Section 15.2(a) (*Declaration of Loan Facility Declared Default*) of the Common Terms Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Promptly after any Lender obtains knowledge of any Loan Facility Event of Default, such Lender shall notify the Credit Facility Agent in writing of such Loan Facility Event of Default, which notice shall describe such Loan Facility Event of Default in reasonable detail (including the date of occurrence of the same), specifically refer to this <u>Section 9.03(e)</u> (*Action Upon Event of Default*) and indicate that such notice is a notice

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Amounts held in the LC Cash Collateral Account shall be the property of the Credit Facility Agent for the benefit of the Issuing Banks and Working Capital Lenders and shall be applied by the Credit Facility Agent to the repayment of LC Loans deemed made under any Letters of Credit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The balance, if any, in the LC Cash Collateral Account, after all Letters of Credit shall have expired with no pending drawings or been fully drawn upon and giving effect to the payment of any LC Loans pursuant to <u>Section 9.04(a)</u> (*Cash Collateralization of Letters of Credit*), shall be applied to repay the other Loan Obligations according to Section 9.05 (*Application of Proceeds*).

Section 9.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Application of Proceeds</u>. Subject to the terms of the Intercreditor Agreement, any moneys received by the Credit Facility Agent from the Collateral Agent after the occurrence and during the continuance of a Loan Facility Event of Default and the period during which remedies have been initiated shall be applied in full or in part by the Credit Facility Agent against the Loan Obligations in accordance with Section 6.7(b) (*Enforcement Proceeds Account*) of the Common Security and Account Agreement (but without prejudice to the right of the Lenders or the Issuing Banks, subject to the terms of the Intercreditor Agreement, to recover any shortfall from the Borrower).

ARTICLE X<br>THE CREDIT FACILITY AGENT

Section 10.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Appointment and Authority</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Lenders and each of the Issuing Banks hereby appoints, designates and authorizes MUFG Bank, Ltd. as its Credit Facility Agent under and for purposes of each Finance Document to which the Credit Facility Agent is a party, and in its capacity as the Credit Facility Agent, to act on its behalf as Senior Creditor Group Representative and the Designated Voting Party (as defined in the Intercreditor Agreement) for the Lenders and Issuing Banks. MUFG Bank, Ltd. hereby accepts this appointment and agrees to act as the Credit Facility Agent for the Lenders and Issuing Banks in accordance with the terms of this Agreement. Each Lender

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and Issuing Bank hereby appoints and authorizes the Credit Facility Agent to execute and enter into each of the Common Terms Agreement, Intercreditor Agreement and Common Security and Account Agreement, and each other Finance Document to which it is party, on behalf of such Lender and such Issuing Bank, in its name, place and stead, to bind it to the representations, warranties, terms and conditions contained therein and to act on behalf of such Lender or such Issuing Bank under each Finance Document to which it is a party and in the absence of other written instructions from the Required Lenders received from time to time by the Credit Facility Agent (with respect to which the Credit Facility Agent agrees that it will comply, except as otherwise provided in this <u>Section 10.01</u> (*Appointment and Authority*) or as otherwise advised by counsel, and subject in all cases to the terms of the Intercreditor Agreement), to exercise such powers hereunder and thereunder as are specifically delegated to or required of the Credit Facility Agent by the terms hereof and thereof, together with such powers as may be reasonably incidental thereto. Where the Credit Facility Agent is required or permitted to act under this Agreement or under any other Finance Document, the Credit Facility Agent shall, notwithstanding anything herein or therein to the contrary, (i) be entitled to request instruction or direction in respect of any such rights, powers and discretions or clarification of any written instruction received by it, as to whether, and in what manner, it should exercise or refrain from exercising its rights, powers and discretions and (ii) unless the terms of the agreement unambiguously mandate the action, may refrain from acting (and will incur no liability in refraining to act) until that direction, instruction or clarification is received by it from the relevant parties or from a court of competent jurisdiction. Without limiting the generality of the foregoing sentence, the use of the term "agent" in this Agreement with reference to the Credit Facility Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Government Rule. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Except to the extent that the Credit Facility Agent is acting on express instructions, the Credit Facility Agent shall exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of his or her own affairs (taking into account the interests of all the Lenders and Issuing Banks benefiting from this Agreement). Nothing in this Agreement or any other Finance Document shall, in any case in which the Credit Facility Agent has failed to show such degree of care and skill, exempt the Credit Facility Agent from or indemnify it against any liability arising out of its own gross negligence, fraud or willful misconduct in relation to its duties under this Agreement or any other Finance Document as determined by a court of competent jurisdiction in a final non-appealable judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent may not begin any legal action or proceeding in the name of a Lender or Issuing Bank, except as specifically permitted under the terms of this Agreement or the other Finance Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this <u>Article X</u> (*The Credit Facility Agent*) are solely for the benefit of the Credit Facility Agent, the Lenders and the Issuing Banks, and neither the Borrower nor any other Person shall have rights as a third party beneficiary of any of such provisions other

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than the Borrower's rights under <u>Section 10.07(a)</u> and <u>(b)</u> (*Resignation or Removal of Credit Facility Agent*) and <u>Section 10.13</u> (*Agreement to Comply with Finance Documents*).

Section 10.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights as a Facility Lender or Hedging Bank</u>. Each Person serving as the Credit Facility Agent hereunder or under any other Finance Document shall have the same rights and powers in its capacity as a Facility Lender or Hedging Bank, as the case may be, as any other Facility Lender or Hedging Bank, as the case may be, and may exercise the same as though it were not the Credit Facility Agent. Each such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or Affiliates of the Borrower as if such Person were not the Credit Facility Agent hereunder and without any duty to account therefor to the Lenders and Issuing Banks.

Section 10.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Exculpatory Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent shall not have any duties or obligations except those expressly set forth herein and in the other Finance Documents. Without limiting the generality of the foregoing, the Credit Facility Agent shall not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;be subject to any fiduciary or other implied duties (except for an implied covenant of good faith), regardless of whether a Loan Facility Event of Default or Unmatured Loan Facility Event of Default has occurred and is Continuing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Finance Documents that the Credit Facility Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Finance Documents); *provided* that, the Credit Facility Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Credit Facility Agent to liability or that is contrary to any Finance Document or applicable Government Rule; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;except as expressly set forth herein and in the other Finance Documents, have any duty to disclose, nor shall the Credit Facility Agent be liable for any failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Credit Facility Agent or any of its Affiliates in any capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent shall not be liable for any action taken or not taken by it (i) with the prior written consent or at the request of the Required Lenders (or such other number or percentage of the Lenders or the Issuing Banks as may be necessary, or as the Credit Facility Agent may believe in good faith to be necessary, under the circumstances as provided in <u>Section 11.01</u> (*Decisions; Amendments, Etc.*)) or (ii) in the absence of its own gross negligence, fraud or willful misconduct as determined by a court of competent jurisdiction by a final and non-appealable order. The Credit Facility Agent shall not be deemed to have knowledge or

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notice of the occurrence of any Loan Facility Event of Default unless the Credit Facility Agent has received a written notice in accordance with <u>Section 9.03(e)</u> (*Action Upon Event of Default*) or with Section 2.4(d) (*Defaults*) of the Intercreditor Agreement or from the Intercreditor Agent, the Obligors, the Pledgor or a Senior Creditor Group Representative referring to this Credit Facility Agreement, describing events or actions constituting a Loan Facility Event of Default and indicating that such notice is a notice of default. If the Credit Facility Agent receives such a notice of the occurrence of any Loan Facility Event of Default, the Credit Facility Agent shall give notice thereof to the Lenders, the Issuing Banks and the Intercreditor Agent. Subject to Article 16 (*Common Remedies and Enforcement*) of the Common Terms Agreement, the Credit Facility Agent shall take such action with respect to such Loan Facility Event of Default as is provided in <u>Article IX</u> (*Default and Enforcement*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent shall not be liable to the Obligors for any breach by any Lender or any Issuing Bank of this Agreement or any other Finance Document (other than by the Facility Agent's own gross negligence, willful misconduct or fraud as determined by a court of competent jurisdiction in a final and nonappealable judgment) or be liable to any Lender or any Issuing Bank for any breach by any Obligor of this Agreement or any other Finance Document.

Section 10.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Reliance by Credit Facility Agent</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Credit Facility Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan or issuance of a Letter of Credit that by its terms must be fulfilled to the satisfaction of each Lender, each Issuing Bank or the Required Lenders, the Credit Facility Agent may presume that such condition is satisfactory to such Lender, such Issuing Bank or the Required Lenders, as the case may be, unless the Credit Facility Agent has received notice to the contrary from such Lender, such Issuing Bank or the Required Lenders or the Intercreditor Agent prior to the making of such Loan or issuance of such Letter of Credit. The Credit Facility Agent may consult with legal counsel, independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. The Credit Facility Agent shall not be responsible for the negligence or misconduct of any legal counsel, independent accountants and other experts selected by it in good faith, and shall not be required to make any investigation as to the accuracy or sufficiency of any such advice or services; *provided* that, nothing herein shall constitute a waiver by the Obligors, the Lenders or the Issuing Banks of any of their rights against (i) the Credit Facility Agent as a result of its gross negligence, fraud or willful misconduct as determined by a court of competent jurisdiction in a final, non-appealable judgment or (ii) such counsel, accountants or other experts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Obligor, each Lender and each Issuing Bank shall deliver to the Credit Facility Agent (or, in the case of the Obligors, deliver to the Intercreditor Agent for delivery to each Facility Agent) a list of authorized signatories, together, in the case of the Obligors, with a certificate of an officer of such party certifying the names and true signatures of such authorized signatories who are authorized to sign any notice, certificate, instrument, demand, request, direction, instruction, waiver, receipt, consent, agreement or other document or communication furnished to the Credit Facility Agent hereunder or under the other Finance Documents and the Credit Facility Agent shall be entitled to rely conclusively on such list until a new list is furnished by an Obligor, a Lender or an Issuing Bank, as the case may be, to the Credit Facility Agent (or, in the case of the Obligors, to the Intercreditor Agent for delivery to each Facility Agent).

Section 10.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Delegation of Duties</u>. The Credit Facility Agent may perform any and all of its duties and exercise any and all its rights and powers hereunder or under any other Finance Document by or through any one or more sub-agents appointed by the Credit Facility Agent. The Credit Facility Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this <u>Article X</u> (*The Credit Facility Agent*) shall apply to any such sub-agent and to the Related Parties of the Credit Facility Agent, and shall apply to all of their respective activities in connection with their acting as or for the Credit Facility Agent.

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Section 10.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification by the Lenders</u>. Without limiting the obligations of the Obligors hereunder or under the other Finance Documents, each Lender agrees that it shall, from time to time on demand by the Credit Facility Agent, indemnify the Credit Facility Agent and its Related Parties (ratably in accordance with its then applicable proportionate share) for any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including reasonable legal fees) or disbursements of any kind or nature whatsoever, which may at any time be imposed on, incurred by or asserted against the Credit Facility Agent or any of its Related Parties in any way relating to or arising out of this Agreement, the other Finance Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or the enforcement of any of the terms hereof or thereof or of any such other documents; *provided* that, no Lender shall be liable for any of the foregoing to the extent they arise solely from the Credit Facility Agent's gross negligence, fraud or willful misconduct as determined by a final non-appealable judgment of a court of competent jurisdiction. The Credit Facility Agent shall be fully justified in taking, refusing to take or continuing to take any action hereunder unless it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking, refusing to take or continuing to take any such action. Without limitation of the foregoing, each Lender agrees to reimburse, ratably in accordance with all its Loans and Commitments, the Credit Facility Agent promptly upon demand for any out-of-pocket expenses (including counsel fees) incurred by the Credit Facility Agent in connection with the preparation, execution, administration, amendment, waiver, modification or enforcement of, or legal advice in respect of rights or responsibilities under, the Finance Documents, to the extent that the Credit Facility Agent is not reimbursed promptly for such expenses by the Obligors in accordance with the Finance Documents; *provided* that, upon recovery of any or all of such costs and expenses by the Credit Facility Agent from the Obligors, the Credit Facility Agent shall remit to each Lender that has paid such costs and expenses to the Credit Facility Agent pursuant to this <u>Section 10.06</u> (*Indemnification by the Lenders*) its ratable share of such amounts so recovered. The obligation of the Lenders to make payments pursuant to this <u>Section 10.06</u> (*Indemnification by the Lenders*) is several and not joint or joint and several, and the same shall survive the payment in full of the Loan Obligations and the termination of this Agreement and the other Finance Documents.

Section 10.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Resignation or Removal of Credit Facility Agent</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent may resign from the performance of all its functions and duties hereunder and under the other Finance Documents at any time by giving thirty (30) days' prior notice to the Borrower, the Lenders and the Issuing Banks. The Credit Facility Agent may be removed at any time (i) by the Required Lenders for such Person's gross negligence, fraud or willful misconduct or (ii) by the Borrower, with the consent of the Required Lenders and so long as no Loan Facility Event of Default or Unmatured Loan Facility Event of Default has occurred and is Continuing, for such Person's gross negligence, fraud or willful misconduct. In the event MUFG Bank, Ltd. is no longer the Credit Facility Agent, any successor Credit Facility Agent may be removed at any time with cause by the Required Lenders. Any such resignation or removal shall take effect upon the appointment of a successor Credit Facility Agent, in accordance with this <u>Section 10.07</u> (*Resignation or Removal of Credit Facility Agent*) and Section 19.3 (*Replacement of Facility Agents*) of the Common Terms Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Upon any notice of resignation by the Credit Facility Agent or upon the removal of the Credit Facility Agent by the Required Lenders, or by the Borrower with the approval of the Required Lenders pursuant to <u>Section 10.07(a)</u> (*Resignation or Removal of Credit Facility Agent*), the Required Lenders shall appoint a successor Credit Facility Agent, hereunder and under each other Finance Document to which the Credit Facility Agent is a party, such successor Credit Facility Agent to be a commercial bank or financial institution having combined capital and surplus of at least $1,000,000,000; *provided* that, if no Loan Facility Event of Default or Unmatured Loan Facility Event of Default shall then be Continuing, the appointment of a successor Credit Facility Agent shall also be subject to the prior written consent of the Borrower (such acceptance not to be unreasonably withheld, conditioned or delayed). The fees payable by the Borrower to a successor Credit Facility Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If no successor Credit Facility Agent shall have been so appointed and shall have accepted such appointment within sixty (60) days after (i) the retiring Credit Facility Agent gives notice of its resignation or (ii) the date fixed for such removal, as applicable, the Credit Facility Agent shall, at the expense of the Obligors, petition any court of competent jurisdiction in the United States for the appointment of a successor Credit Facility Agent. Such court may thereupon, after such notice, if any, as it may prescribe, appoint a successor Credit Facility Agent. If no successor Credit Facility Agent shall have been so appointed in accordance with clauses (a) and (b) above or (A) this clause (c) and shall have accepted such appointment within ninety (90) days or (B) in the case of this clause (c) if the Credit Facility Agent, acting reasonably, cannot determine a court of competent jurisdiction in the United States that will consider the petition contemplated in this clause (c) within sixty (60) days, in each case after (x) the retiring Credit Facility Agent gives notice of its resignation or (y) the date fixed for such removal, as applicable, the Credit Facility Agent may, at the expense of the Obligors, appoint a successor Credit Facility Agent meeting the criteria set forth in <u>Section 10.07(b)</u> (*Resignation or Removal of Credit Facility Agent.*); *provided* that, if no Loan Facility Event of Default shall then be Continuing, the appointment of such successor Credit Facility Agent shall also be subject to the prior written consent of the Borrower (such acceptance not to be unreasonably withheld, conditioned or delayed); *provided further* that, if no successor Credit Facility Agent shall have been so appointed by the Credit Facility Agent within thirty (30) days after the termination of such 90-day period, the Obligors may appoint a successor Credit Facility Agent with the consent of the Required Lenders (such consent not to be unreasonably withheld or delayed).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Upon the acceptance of a successor's appointment as Credit Facility Agent hereunder and compliance with the provisions of Section 19.3 (*Replacement of Facility Agents*) of the Common Terms Agreement, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or removed) Credit Facility Agent, and the retiring (or removed) Credit Facility Agent shall be discharged from all of its duties and obligations hereunder or under the other Finance Documents. After the retirement or removal of the Credit Facility Agent hereunder and under the other Finance Documents, the provisions of this <u>Article X</u> (*The Credit Facility Agent*) and <u>Section 11.07</u> (*Indemnification by the Obligors*) shall continue in effect for the benefit of such retiring (or removed) Person, its sub-agents and

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their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Person was acting in its capacity as Credit Facility Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in this Agreement, no resignation or, as the case may be, removal of the Credit Facility Agent shall be effective until the following conditions are satisfied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Credit Facility Agent has transferred to its successor all the rights and obligations in its capacity as Credit Facility Agent under this Credit Facility Agreement, the Common Terms Agreement and the other Finance Documents to which it is party as the Credit Facility Agent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the requirements of Section 19.3 (*Replacement of Facility Agents*) of the Common Terms Agreement have been satisfied.

Section 10.08&nbsp;&nbsp;&nbsp;&nbsp;<u>No Amendment to Duties of Credit Facility Agent Without Consent</u>. The Credit Facility Agent shall not be bound by any waiver, amendment, supplement or modification of this Agreement or any other Finance Document that affects its rights or duties hereunder or thereunder unless such Credit Facility Agent shall have given its prior written consent, in its capacity as Credit Facility Agent thereto.

Section 10.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Reliance on Credit Facility Agent, Lenders and Issuing Banks</u>. Each of the Lenders and Issuing Banks acknowledges that it has, independently and without reliance upon the Credit Facility Agent, any other Lender or Issuing Bank or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and make its extensions of credit. Each of the Lenders and Issuing Banks also acknowledges that it will, independently and without reliance upon the Credit Facility Agent or any other Lender or Issuing Bank or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Finance Document or any related agreement or any document furnished hereunder or thereunder.

Section 10.10&nbsp;&nbsp;&nbsp;&nbsp;<u>No Arranger Duties</u>. Anything herein to the contrary notwithstanding, no Arranger shall have any powers, duties or responsibilities under this Agreement, except in its capacity, as applicable, as the Credit Facility Agent or Lender or Issuing Bank hereunder.

Section 10.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Copies</u>. The Credit Facility Agent shall give prompt notice to each Lender and each Issuing Bank of receipt of each notice or request required or permitted to be given to the Credit Facility Agent by the Obligors pursuant to the terms of this Agreement or any other Finance Document (unless concurrently delivered to the Lenders by such Obligor). The Credit Facility Agent will distribute to each Lender and each Issuing Bank each document or instrument (including each document or instrument delivered by the Obligors to the Credit Facility Agent pursuant to <u>Article VI</u> (*Representations and Warranties*), <u>Article VII</u> (*Conditions Precedent*) and <u>Article VIII</u> (*Covenants*)) received for the account of the Credit Facility Agent and copies of all other communications received by the Credit Facility Agent from the Obligors for distribution to

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the Lenders and the Issuing Banks by the Credit Facility Agent in accordance with the terms of this Agreement or any other Finance Document.

Section 10.12&nbsp;&nbsp;&nbsp;&nbsp;<u>General Provisions as to Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 4.16</u> (*Pro Rata Treatment*), the Credit Facility Agent promptly shall distribute to each Lender and each Issuing Bank its *pro rata* share of each payment of (i) principal and interest payable to the Lenders or Issuing Banks on the Loans, (ii) fees hereunder received by the Credit Facility Agent for the account of the Lenders or the Issuing Banks and (iii) any other Loan Obligations. The payments made for the account of each Lender and each Issuing Bank shall be made and distributed to such Lender or Issuing Bank for the account of its facility office set forth in the Common Terms Agreement. Each Lender and each Issuing Bank shall have the right to alter its designated facility office upon written notice to the Credit Facility Agent, the Obligors and the Intercreditor Agent pursuant to <u>Section 11.10</u> (*Notices and Other Communications*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Where a sum is to be paid to a Lender or Issuing Bank under the Finance Documents or another party to this Agreement by another party to this Agreement that is primarily liable for such sum, the Credit Facility Agent shall not be obliged to pay such sum to such other party (or to enter into or perform any related exchange contract) until it has established to its satisfaction that it has received such sum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If the Credit Facility Agent pays an amount to another party to this Agreement and it proves to be the case that the Credit Facility Agent had not actually received that amount for which another party to this Agreement is primarily liable, then the party to whom that amount (or the proceeds of any related exchange contract) was paid by the Credit Facility Agent shall on demand refund the same to the Credit Facility Agent together with interest on that amount from the date of payment to the date of receipt by the Credit Facility Agent, calculated by the Credit Facility Agent to reflect its cost of funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent acknowledges and agrees that, notwithstanding any provision to the contrary in any Finance Document, in no event shall the Lenders or Issuing Banks be obligated to pay any agency or other fee to the Credit Facility Agent even if the Obligors fail to do so.

Section 10.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Agreement to Comply with Finance Documents</u>. Each of the Lenders and Issuing Banks agrees for the benefit of the Borrower and each other that, in giving instructions to the Credit Facility Agent and the Intercreditor Agent and, where so permitted under this Agreement, the Intercreditor Agreement, Common Terms Agreement or the Common Security and Account Agreement, in taking Decisions by itself or through the Credit Facility Agent, including pursuing any Lender or Issuing Bank remedies against the Borrower, that such Lender or Issuing Bank shall act at all times in accordance with the terms of the Intercreditor Agreement, the Common Security and Account Agreement, the Common Terms Agreement, this Agreement and the applicable Finance Documents.

Section 10.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain ERISA Matters</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender and Issuing Bank (x) represents and warrants, as of the date such Person became a Lender or Issuing Bank party hereto, to, and (y) covenants, from the date such Person became a Lender or Issuing Bank party hereto to the date such Person ceases being a Lender or Issuing Bank party hereto, for the benefit of, the Credit Facility Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower, that at least one of the following is and will be true:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;such Lender or Issuing Bank is not using "plan assets" (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender's entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments or this Agreement;

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;such other representation, warranty and covenant as may be agreed in writing between the Credit Facility Agent, in its sole discretion, and such Lender or Issuing Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In addition, unless either (A) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or Issuing Bank, as applicable, or (B) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender or Issuing Bank further (x) represents and warrants, as of the date such Person became a Lender or Issuing Bank party hereto, to, and (y) covenants, from the date such Person became a Lender or Issuing Bank party hereto to the date such Person ceases being a Lender or Issuing Bank party hereto, for the benefit of, the Credit

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Facility Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower, that the Credit Facility Agent is not a fiduciary with respect to the assets of such Lender or Issuing Bank involved in such Lender's or Issuing Bank's entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Credit Facility Agent under this Agreement, any Finance Document or any documents related hereto or thereto).

Section 10.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Erroneous Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If the Credit Facility Agent (i) notifies a Lender or Issuing Bank, or any Person who has received funds on behalf of a Lender or Issuing Bank (any such Lender, Issuing Bank or other recipient (and each of their respective successors and assigns), a "*Payment Recipient*") that the Credit Facility Agent has determined in its reasonable discretion (whether or not after receipt of any notice under immediately succeeding clause (b)) that any funds (as set forth in such notice from the Credit Facility Agent) received by such Payment Recipient from the Credit Facility Agent or any of its Affiliates were erroneously or mistakenly transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender, Issuing Bank or other Payment Recipient on its behalf) (any such funds, whether transmitted or received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively, an "*Erroneous Payment*") and (ii) demands in writing the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Credit Facility Agent pending its return or repayment as contemplated below in this <u>Section 10.15</u> (*Erroneous Payments*) and held in trust for the benefit of the Credit Facility Agent, and such Lender or Issuing Bank shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two (2) Business Days thereafter (or such later date as the Credit Facility Agent may, in its sole discretion, specify in writing), return to the Credit Facility Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon (except to the extent waived in writing by the Credit Facility Agent) in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient to the date such amount is repaid to the Credit Facility Agent in same day funds at the greater of the Federal Funds Effective Rate and a rate determined by the Credit Facility Agent in accordance with banking industry rules on interbank compensation from time to time in effect. A notice of the Credit Facility Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Without limiting immediately preceding clause (a), each Lender, Issuing Bank or any Person who has received funds on behalf of a Lender or Issuing Bank (and each of their respective successors and assigns), agrees that if it receives a payment, prepayment or repayment (whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise) from the Credit Facility Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in this Agreement or in a notice of payment, prepayment or repayment sent by the Credit Facility Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, (y) that was not preceded or

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accompanied by a notice of payment, prepayment or repayment sent by the Credit Facility Agent (or any of its Affiliates), or (z) that such Lender or Issuing Bank, or other such recipient, otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part), then in each such case:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;it acknowledges and agrees that (A) in the case of immediately preceding clause (x) or (y), an error and mistake shall be presumed to have been made (absent written confirmation from the Credit Facility Agent to the contrary) or (B) an error and mistake has been made (in the case of immediately preceding clause (z)), in each case, with respect to such payment, prepayment or repayment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;such Lender or Issuing Bank shall (and shall use commercially reasonable efforts to cause any other recipient that receives funds on its respective behalf to) promptly (and, in all events, within one (1) Business Day of its knowledge of the occurrence of any of the circumstances described in immediately preceding clauses (x), (y) and (z)) notify the Credit Facility Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Credit Facility Agent pursuant to this <u>Section 10.15(b)</u> (*Erroneous Payments*).

For the avoidance of doubt, the failure to deliver a notice to the Credit Facility Agent pursuant to this <u>Section 10.15(b)</u> (*Erroneous Payments*) shall not have any effect on a Payment Recipient's obligations pursuant to <u>Section 10.15(a)</u> (*Erroneous Payments*) or on whether or not an Erroneous Payment has been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender and Issuing Bank hereby authorizes the Credit Facility Agent to set off, net and apply any and all amounts at any time owing to such Lender or Issuing Bank under any Finance Document, or otherwise payable or distributable by the Credit Facility Agent to such Lender or Issuing Bank under any Finance Document with respect to any payment of principal, interest, fees or other amounts, against any amount that the Credit Facility Agent has demanded to be returned under <u>Section 10.15(a)</u> (*Erroneous Payments*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;(i) In the event that an Erroneous Payment (or portion thereof) is not recovered by the Credit Facility Agent for any reason, after demand therefor in accordance with <u>Section 10.15(a)</u> (*Erroneous Payments*), from any Lender that has received such Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such Erroneous Payment (or portion thereof) on its respective behalf) (such unrecovered amount, an "*Erroneous Payment Return Deficiency*"), upon the Credit Facility Agent's notice to such Lender at any time, then effective immediately (with the consideration therefor being acknowledged by the parties hereto), (A) such Lender shall be deemed to have assigned its Loans (but not its Commitments) with respect to which such Erroneous Payment was made (the "*Erroneous Payment Impacted Class*") in an amount equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Credit Facility Agent may specify) (such assignment of the Loans (but not Commitments) of the Erroneous Payment Impacted Class, the "*Erroneous Payment Deficiency Assignment*") (on a cashless basis and such amount calculated at par plus any accrued and unpaid interest (with the assignment fee to be waived by the Credit Facility Agent in such instance)), and is hereby (together with the Borrower) deemed to execute and deliver a Lender Assignment Agreement

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with respect to such Erroneous Payment Deficiency Assignment, and such Lender shall deliver any Notes evidencing such Loans to the Borrower or the Credit Facility Agent (but the failure of such Person to deliver any such Notes shall not affect the effectiveness of the foregoing assignment), (B) the Credit Facility Agent as the assignee Lender shall be deemed to have acquired the Erroneous Payment Deficiency Assignment, (C) upon such deemed acquisition, the Credit Facility Agent as the assignee Lender shall become a Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Lender shall cease to be a Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment, excluding, for the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and its applicable Commitments which shall survive as to such assigning Lender, (D) the Credit Facility Agent and the Borrower shall each be deemed to have waived any consents required under this Agreement to any such Erroneous Payment Deficiency Assignment, and (E) the Credit Facility Agent will reflect in the Register its ownership interest in the Loans subject to the Erroneous Payment Deficiency Assignment. For the avoidance of doubt, no Erroneous Payment Deficiency Assignment will reduce the Commitments of any Lender and such Commitments shall remain available in accordance with the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 11.04</u> (*Assignments*) (but excluding, in all events, any assignment consent or approval requirements (whether from the Borrower or otherwise)), the Credit Facility Agent may, in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment and upon receipt of the proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender shall be reduced by the net proceeds of the sale of such Loan (or portion thereof), and the Credit Facility Agent shall retain all other rights, remedies and claims against such Lender (and/or against any recipient that receives funds on its respective behalf). In addition, an Erroneous Payment Return Deficiency owing by the applicable Lender (A) shall be reduced by the proceeds of prepayments or repayments of principal and interest, or other distribution in respect of principal and interest, received by the Credit Facility Agent on or with respect to any such Loans acquired from such Lender pursuant to an Erroneous Payment Deficiency Assignment (to the extent that any such Loans are then owned by the Credit Facility Agent) and (y) may, in the sole discretion of the Credit Facility Agent, be reduced by any amount specified by the Credit Facility Agent in writing to the applicable Lender from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The parties hereto agree that (A) irrespective of whether the Credit Facility Agent may be equitably subrogated, in the event that an Erroneous Payment (or portion thereof) is not recovered from any Payment Recipient that has received such Erroneous Payment (or portion thereof) for any reason, the Credit Facility Agent shall be subrogated to all the rights and interests of such Payment Recipient (and, in the case of any Payment Recipient who has received funds on behalf of a Lender or Issuing Bank, to the rights and interests of such Lender or Issuing Bank, as the case may be) under the Finance Documents with respect to such amount (the "*Erroneous Payment Subrogation Rights*") (*provided* that, the Obligors' Loan Obligations under the Finance Documents in respect of the Erroneous Payment Subrogation Rights shall not be duplicative of such Loan Obligations in respect of Loans that have been assigned to the Credit

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Facility Agent under an Erroneous Payment Deficiency Assignment), and (B) an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Loan Obligations owed by the Borrower or any other Obligor; *provided* that, this <u>Section 10.15(e)</u> (*Erroneous Payments*) shall not be interpreted to increase (or accelerate the due date for), or have the effect of increasing (or accelerating the due date for), the Loan Obligations of the Borrower relative to the amount (and/or timing for payment) of the Loan Obligations that would have been payable had such Erroneous Payment not been made by the Credit Facility Agent; *provided further* that, for the avoidance of doubt, immediately preceding clauses (A) and (B) shall not apply to the extent any such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received by the Credit Facility Agent from the Borrower for the purpose of making such Erroneous Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;To the extent permitted by applicable law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Credit Facility Agent for the return of any Erroneous Payment received, including, without limitation, any defense based on "discharge for value" or any similar doctrine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Each party's obligations, agreements and waivers under this <u>Section 10.15</u> (*Erroneous Payments*) shall survive the resignation or replacement of the Credit Facility Agent, the termination of the Commitments and/or the repayment, satisfaction or discharge of all Loan Obligations (or any portion thereof) under any Finance Document.

Section 10.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Representations and Warranties of the Lenders and Issuing Banks.</u> (a) Each Lender and each Issuing Bank represents and warrants that (a) this Agreement (and the other Finance Documents in respect of the Loan Obligations) set forth the terms of a commercial lending facility, (b) in participating as a Lender, it is engaged in making, acquiring or holding commercial loans and in providing other facilities set forth herein as may be applicable to such Lender or Issuing Bank, in each case, in the ordinary course of business, and not for the purpose of investing in the general performance or operations of the Borrower, or for the purpose of purchasing, acquiring or holding any other type of financial instrument such as a security (and each Lender and each Issuing Bank agrees not to assert a claim in contravention of the foregoing, such as a claim under the federal or state securities laws), (c) it has, independently and without reliance upon the Credit Facility Agent, any Arranger, or any other Lender or Issuing Bank, or any of the Related Parties of any of the foregoing, and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement as a Lender or Issuing Bank, and to make, acquire or hold Loans hereunder or other Loan Obligations, and (d) it is sophisticated with respect to decisions to make, acquire and/or hold commercial loans and to provide other facilities set forth herein, as may be applicable to such Lender or such Issuing Bank, and either it, or the Person exercising discretion in making its decision to make, acquire and/or hold such commercial loans or to provide such other facilities, is experienced in making, acquiring or holding such commercial loans or providing such other facilities. Each Lender and each Issuing Bank also acknowledges that it will, independently and without reliance upon the Credit Facility Agent, any Arranger or any other Lender or Issuing Bank, or any of the Related Parties of any of the foregoing, and based on such documents and

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information (which may contain material, non-public information within the meaning of the United States securities laws concerning the Borrower and its Affiliates) as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Finance Documents in respect of the Loan Obligations or any related agreement or any document furnished hereunder or thereunder.

ARTICLE XI<br>MISCELLANEOUS PROVISIONS

<u>Section 11.01&nbsp;&nbsp;&nbsp;&nbsp;Decisions; Amendments, Etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms of the Intercreditor Agreement and the Common Security and Account Agreement, no Modification or termination of any provision of this Agreement or other Decision by Lenders or Issuing Banks under this Agreement shall be effective unless in writing signed by the Obligors and the Credit Facility Agent (acting on the instruction of the Required Lenders), and each such Modification, termination or Decision shall be effective only in the specific instance and for the specific purpose for which given; *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the consent of each Lender or each Issuing Bank directly and adversely affected thereby will be required with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;increases in or extensions (other than pursuant to <u>Section 2.08</u> (*Incremental Commitments*) or with respect to incurrence of any Additional Senior Debt to which such Lender has agreed to participate) of or change to the order of application of any reduction in any Commitments or change to the order of application of any prepayment of Loans from the application thereof set forth in the applicable provisions of <u>Section 2.07</u> (*Termination or Reduction of Commitments*), <u>Section 4.11</u> (*Voluntary Prepayment*), <u>Section 4.12</u> (*Mandatory Prepayment*) (it being understood that a waiver of any of the conditions in <u>Section 7.01</u> (*Conditions to Closing*), <u>Section 7.02</u> (*Conditions to Each Term Loan Advance*) or <u>Section 7.03</u> (*Conditions to Each Working Capital* Advance) or waiver of any Loan Facility Event of Default, Unmatured Loan Facility Event of Default or mandatory prepayment will not constitute an increase or extension of any Commitment);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;reductions of the principal of, or the interest or rate of interest specified herein on, any Loan, or any Fees or other amounts (including reduction in the amount to be paid in respect of any mandatory prepayments under <u>Section 4.12</u> (*Mandatory Prepayment*)) payable to any Lender or Issuing Bank hereunder (other than by virtue of a waiver of any of the conditions in <u>Section 7.01</u> (*Conditions to Closing*), <u>Section 7.02</u> (*Conditions to Each Term Loan Advance*) or <u>Section 7.03</u> (*Conditions to Each Working Capital Advance*), Loan Facility Event of Default or Unmatured Loan Facility Event of Default or change to a financial ratio);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;extensions of the Final Maturity Date or Working Capital Loan Termination Date under this Agreement, any date scheduled for any payment of principal, fees, interest or amortization payment (as applicable) under <u>Section 4.01</u> (*Repayment of Term Loan Advances*), <u>Section 4.04</u> (*Interest Payment Dates*) or <u>Section 4.15</u> (*Fees*) or mandatory payment under <u>Section 4.12</u> (*Mandatory Prepayment*) (it being understood that a waiver of any condition precedent or the waiver of any Loan Facility Event of Default or Unmatured Loan Facility Event of Default or change to a financial ratio will not constitute an extension of the Final Maturity Date); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;Modifications to the provisions of <u>Section 4.16</u> (*Pro Rata Treatment*) or <u>Section 4.17</u> (*Sharing of Payments*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the consent of each Lender and each Issuing Bank will be required with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;changes to any provision of this <u>Section 11.01</u> (*Decisions; Amendments, Etc.*), the definition of Required Lenders, or any other provision hereof specifying the number or percentage of Lenders or Issuing Banks required to amend, waive, terminate or otherwise modify any rights hereunder or make any determination or grant any consent hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;releases or Modifications of all or a material portion of the Collateral from the Lien of any of the Security Documents (other than as permitted in the Finance Documents);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;releases of all or a substantial portion of the value of the Guarantee by the Guarantors under or in connection with this Agreement, the Common Terms Agreement, the Common Security and Account Agreement or any Security Document (other than as permitted in the Finance Documents);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;assignment or transfer by any Obligor of any of its rights and obligations under this Agreement except with respect to any such assignment or transfer expressly permitted under this Agreement, the Common Terms Agreement or the Common Security and Account Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;any of the amendments contemplated in Schedule 1(a), (b), (c), (d), (e), (f), (g), and (h) (*All Loan Facilities Decisions*) of the Intercreditor Agreement; *provided* that, the consent of all Lenders will be required with respect to Schedule 1(b) (*All Loan Facilities Decisions*) of the Intercreditor Agreement only to the extent such amendment adversely affects the timing or priority of payments for Senior Debt Obligations in the cash waterfall in Section 4.7 (*Cash Waterfall*) of the Common Security and Account Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;satisfaction or waiver of each of the conditions in <u>Section 7.01</u> (*Conditions to Closing*);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G)&nbsp;&nbsp;&nbsp;&nbsp;any amendment, waiver, consent or other modification to subordinate the Loans to any other Indebtedness for borrowed money or subordinate any Lien securing the Loans on a material portion of the Collateral to any other Lien securing any other Indebtedness, in each case, except any "debtor-in-possession" facility (*provided* that, in respect of any such "debtor-in-possession" facility, each Lender will be offered the opportunity on a pro rata basis to participate therein), without the consent of each Lender and each Issuing Bank; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the consent of any Lender (other than any Lender that is an Obligor, the Pledgor or the Sponsor or an Affiliate thereof except as set forth in Section 7.4 (*Sponsor Voting*) of the Common Security and Account Agreement) will be sufficient with respect to any Modification, termination or Decision specified in a Finance Document as being made solely by any individual Senior Creditor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in Section 7.4 (*Sponsor Voting*) of the Common Security and Account Agreement, no Lender that is an Obligor or the Sponsor or an Affiliate thereof shall cast a vote with respect to any Decision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Credit Facility Agent is required to cast a vote with respect to a Decision under this Agreement or under Section 3.6 (*Other Voting Considerations*) of the Intercreditor Agreement and in each other instance in which the Lenders or Issuing Banks are required to vote or make a Decision, a vote shall be taken among the Lenders or Issuing Banks in the timeframe reasonably specified by the Credit Facility Agent (which timeframe shall expire at least two (2) Business Days prior to the expiration of the time period specified in the notice provided by the Intercreditor Agent to the Credit Facility Agent pursuant to Section 4.5(a)(iii) (*Certain Procedures Relating to Modifications, Instructions, and Exercises of Discretion*) of the Intercreditor Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;No vote shall be required for any Decision or other action permitted to be taken by any individual Lender or any individual Issuing Bank pursuant to <u>Section 9.03(b)</u> (*Action Upon Event of Default*) of this Agreement, and the Credit Facility Agent shall be authorized to act at the direction of any Lender or any Issuing Bank in respect of any such Decision or action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Subject to clause (f) below, in the event any Lender or any Issuing Bank does not cast its votes by the later of (i) the timeframe specified by the Credit Facility Agent pursuant to clause (c) above and (ii) ten (10) Business Days following receipt of the request for such vote or Decision, the Borrower shall be entitled to instruct the Credit Facility Agent to deliver a notice to such Lender or Issuing Bank, informing it that if it does not respond within an additional five (5) Business Days of the date of such notice (or such longer period as the Borrower may reasonably determine in consultation with the Credit Facility Agent), its vote shall be disregarded. If such Lender or Issuing Bank (A) has not advised the Credit Facility Agent within the time specified in the additional notice whether it approves or disapproves of the applicable Decision or (B) has advised the Credit Facility Agent that it has determined to abstain from voting on such Decision, such Lender or Issuing Bank shall be deemed to have waived its right to consent, approve, waive or provide direction with respect to such Decision and shall be excluded from the numerator and

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denominator of such calculation for the purpose of determining whether the Required Lenders have made a decision with respect to such action. Such Lender hereby waives any and all rights it may have to object to or seek relief from the decision of the Lenders voting with respect to such issue and agrees to be bound by such decision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The provisions of clauses (c) and (e) above do not apply to any action that requires the consent of 100% of the Lenders or Issuing Banks or the consent of each affected Lender and Issuing Bank, as applicable, as set forth in <u>Section 11.01(a)(i)</u> and <u>(ii)</u> (*Decisions; Amendments, Etc.*) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;The agreements contemplated by this <u>Section 11.01</u> (*Decisions; Amendments, Etc.*) shall not be required:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;for any update to the Amortization Schedule delivered in accordance with <u>Section 4.01(b)</u> (*Repayment of Term Loan Advances*) (which amendments shall be effective, absent any manifest error, upon delivery by the Credit Facility Agent to the Borrower and Intercreditor Agent of the updated Amortization Schedule in accordance with the provisions of such Section); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;to the extent the Borrower pursues and satisfies the conditions for Project Phase 2 Development Debt (as set out in the Common Terms Agreement), for any amendment or modification to facilitate the incurrence of such Project Phase 2 Development Debt (including, for example, opening of additional ancillary bank accounts) so long as (A) the conditions for Project Phase 2 Development Debt, have been satisfied (or waived by the Requisite Intercreditor Parties) in accordance with Section 6.4 (*Project Phase 2 Development Debt*) of the Common Terms Agreement (as in effect on the Closing Date), and (B) any such amendments are mechanical in nature and consistent with the changes to the Common Terms Agreement for phase 1 of the Venture Global Plaquemines LNG project that were required for phase 2 of such project.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;With respect to any modification, consent or waiver under any Finance Document requiring the vote of the Credit Facility Agent as Senior Creditor Group Representative of the Lenders and the Issuing Banks, such vote will be cast in accordance with the Intercreditor Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything herein to the contrary, in the Common Terms Agreement or in the Common Security and Account Agreement to the contrary, the Lenders or Issuing Banks, or the Credit Facility Agent as Senior Creditor Group Representative, shall not be entitled to vote on any covenant or event of default in the Common Terms Agreement if such covenant or event of default expressly does not extend to the Lenders or the Issuing Banks under the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything herein to the contrary, each of the Lenders and Issuing Banks authorizes and instructs the Credit Facility Agent to make Administrative Decisions (as defined in the Intercreditor Agreement) with respect to this Agreement without the need for

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further authorization, consent or instruction from any Lender, Issuing Bank or other Credit Facility Secured Party with respect to such Administrative Decisions.

Section 11.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. This Agreement, the other Finance Documents and any agreement, document or instrument attached hereto or referred to herein integrate all the terms and conditions mentioned herein or incidental hereto and supersede all oral negotiations and prior writings in respect to the subject matter hereof.

<u>Section 11.03&nbsp;&nbsp;&nbsp;&nbsp;Applicable Government Rule; Jurisdiction; Etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>GOVERNING LAW</u>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>SUBMISSION TO JURISDICTION</u>. The provisions set forth in Section 23.14 (*Consent to Jurisdiction*) of the Common Terms Agreement are incorporated by reference and shall apply *mutatis mutandis* as if fully set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Service of Process</u>. Each party irrevocably consents to the service of any and all process in any such action or proceeding by the mailing of copies of such process to such Person at its then effective notice addresses pursuant to <u>Section 11.10</u> (*Notices and Other Communications*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Immunity</u>. The provisions set forth in Section 23.3 (*Waiver of Immunity*) of the Common Terms Agreement are incorporated by reference and shall apply *mutatis mutandis* as if fully set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>WAIVER OF JURY TRIAL</u>. The provisions set forth in Section 23.13 (*Waiver of Jury Trial*) of the Common Terms Agreement are incorporated by reference and shall apply *mutatis mutandis* as if fully set forth herein.

Section 11.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Assignments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that none of the Obligors may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each of the Lenders, each of the Issuing Banks and the Credit Facility Agent (and any attempted assignment or other transfer by any Obligor without such consent shall be null and void), and no Lender or Issuing Bank may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Acceptable Lender in accordance with <u>Section 11.04(b)</u> and <u>Section 11.04(i)</u> (*Assignments*), (ii) by way of participation in accordance with Section <u>11.04(d)</u> through <u>(f)</u> (*Assignments*) or (iii) by way of pledge or assignment of a security interest subject to the restrictions of <u>Section 11.04(g)</u> (*Assignments*) (and any other attempted assignment or transfer by any party hereto shall be null and void).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 11.04(i)</u>, <u>Section 11.04(j)</u> and this <u>Section 11.04(b)</u> (*Assignments*), any Lender may at any time after the date hereof assign to one or more

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Acceptable Lenders all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitments and the Loans at the time owing to it and, if such Loans are LC Loans, an equal portion of its Non-Fronting Limit); *provided* that, during the Availability Period for any Type of Loans or Commitments subject to assignment, (A) any such Acceptable Lender is an Eligible Assignee or has a then-current credit rating of at least equivalent to Baa2 from Moody's or BBB from S&P or, if applicable, an insurer whose financial strength rating is at least equivalent to Baa1 from Moody's or BBB+ from S&P or is otherwise creditworthy in the opinion of the Borrower (acting reasonably) in light of the Commitments proposed to be assigned, transferred or novated and (B) if the assigning Working Capital Lender is an Issuing Bank, the assignee is an Eligible Assignee or meets the ratings criteria within the definition of Issuing Bank; *provided further* that, on the date of such assignment, such assignment would not result in an increase in amounts payable by the Borrower under <u>Section 5.03</u> (*Increased Costs*) or <u>Section 5.05</u> (*Funding Losses*), unless such increase in amounts payable measured on such date of assignment is waived by the assigning and assuming Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Assignments made pursuant to this <u>Section 11.04(b)</u> (*Assignments*) shall be made with the prior written approval of the Borrower (such approval not to be unreasonably withheld or delayed and to be deemed to have been given by the Borrower if the Borrower has not responded in writing within fifteen (15) Business Days of request) unless (A) such assignment is to a Person described in clauses (a) or (b) of the definition of "Eligible Assignee" or (B) a Loan Facility Event of Default has occurred and is Continuing; *provided* that, where the prior written approval of the Borrower is not required, the assigning Existing Facility Lender shall promptly notify the Borrower of any such assignment, novation or transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Except in the case of (A) an assignment of the entire remaining amount of the assigning Lender's Commitment of a certain Type and, if such assignment is of a Working Capital Commitment, the Working Capital Loans and LC Loans owing to it and its entire Non-Fronting Limit or (B) an assignment to a Lender, or an Affiliate of a Lender, or an Approved Fund with respect to a Lender, the sum of (x) the outstanding Commitments, if any, and (y) the outstanding Loans subject to each such assignment (determined as of the date the Lender Assignment Agreement with respect to such assignment is delivered to the Credit Facility Agent or, if "Trade Date" is specified in the Lender Assignment Agreement, as of the Trade Date) shall not be less than $5,000,000, in the case of Term Loans and Term Loan Commitments, and $1,000,000 in the case of Working Capital Commitments and, with respect to the assignment of the Term Loans, in integral multiples of $1,000,000, and with respect to the assignment of Working Capital Loans, in integral multiples of $500,000, unless the Credit Facility Agent otherwise consents in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 11.04(g)</u> and <u>Section 11.04(i)</u> (*Assignments*), each partial assignment shall be made as an assignment of the same percentage of outstanding Commitments and outstanding Loans of the same Type and a proportionate part of all the assigning Lender's rights and obligations under this Agreement with respect to the Loan and the Commitment of the such Type.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;The parties to each assignment shall execute and deliver to the Credit Facility Agent a Lender Assignment Agreement, in the form of <u>Exhibit E</u> (*Form of Lender Assignment Agreement*), together with a processing and recordation fee of $3,500; *provided* that, (A) no such fee shall be payable in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund with respect to a Lender and (B) in the case of contemporaneous assignments by a Lender to one or more Approved Funds managed by the same investment advisor (which Approved Funds are not then Lenders hereunder), only a single such fee shall be payable for all such contemporaneous assignments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;If the Acceptable Lender is not a Lender prior to such assignment, it shall deliver to the Credit Facility Agent an administrative questionnaire and all documentation and other information required by bank regulatory authorities under applicable "know your customer" requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Credit Facility Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Credit Facility Agent, the applicable *pro rata* share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (A) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Credit Facility Agent, and each other Lender hereunder (and interest accrued thereon), including any Issuing Bank pursuant to <u>Section 3.02(e)</u> (*Reimbursement of Issuing Bank*), and (B) acquire (and fund as appropriate) its full *pro rata* share of all Loans in accordance with its Commitment Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;Subject to acceptance and recording thereof by the Credit Facility Agent pursuant to <u>Section 11.04(c)</u> (*Assignments*), from and after the effective date specified in each Lender Assignment Agreement, the Acceptable Lender thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Lender Assignment Agreement, have the rights and obligations of a Lender under this Agreement and the other applicable Finance Documents, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Lender Assignment Agreement, be released from its obligations under this Agreement and the other applicable Finance Documents (and, in the case of a Lender Assignment Agreement covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto or benefit from any Finance Document) but shall continue to be entitled to the benefits of <u>Section 5.01</u> (*Illegality*), <u>Section 5.03</u> (*Increased Costs*), <u>Section 5.05</u> (*Funding Losses*)

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and <u>Section 5.06</u> (*Taxes*) hereof, and Section 23.4 (*Expenses*) of the Common Terms Agreement and Section 12.18 (*Other Indemnities*) of the Common Security and Account Agreement with respect to facts and circumstances occurring prior to the effective date of such assignment; *provided* that, except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender's having been a Defaulting Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender and/or a revised Note to the assigning Lender reflecting such assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this <u>Section 11.04(b)</u> (*Assignments*) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with <u>Section 11.04(d)</u> through <u>(f)</u> (*Assignments*). Any assignment or transfer by an Issuing Bank of rights or obligations under this Agreement that does not comply with this <u>Section 11.04(b)</u> (*Assignments*) and <u>Section 3.05</u> (*Resignation as an Issuing Bank*), as applicable, shall be null and void. Upon any such assignment, the Credit Facility Agent will deliver a notice thereof to the Borrower (*provided* that, failure to deliver such notice shall not result in any liability for the Credit Facility Agent).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent shall maintain the Register in accordance with <u>Section 2.06(e)</u> (*Funding*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender may at any time, without the consent of, or notice to, the Borrower or the Credit Facility Agent, sell participations to a Participant (other than a Disqualified Institution) in all or a portion of such Lender's rights or obligations under this Agreement (including all or a portion of its Commitments or the Loans under this Agreement owing to it); *provided* that, (i) such Lender's obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Credit Facility Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under <u>Section 10.06</u> (*Indemnification by the Lenders*) with respect to any payments made by such Lender to its Participant(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; *provided* that, such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to <u>Section 11.01</u> (*Decisions; Amendments, Etc.*) that directly affects such Participant. The Borrower agrees that each Participant shall be entitled to the benefits of <u>Sections 5.03</u> (*Increased Costs*), <u>5.05</u> (*Funding Losses*) and <u>5.06</u> (*Taxes*) (subject to the

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requirements and limitations therein and in Article 21 (*Tax Gross-Up and Indemnities*) of the Common Terms Agreement, including the requirements under Section 21.5 (*Status of Facility Lenders and Facility Agents*) of the Common Terms Agreement (it being understood that any documentation required under <u>Section 5.06</u> (*Taxes*) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this <u>Section 11.04</u> (*Assignments*); *provided* that, such Participant (A) agrees to be subject to the provisions of <u>Section 5.04</u> (*Obligation to Mitigate*) as if it were an assignee under paragraph (b) of this <u>Section 11.04</u> (*Assignments*); and (B) shall not be entitled to receive any greater payment under <u>Sections 5.03</u> (*Increased Costs*) or <u>5.06</u> (*Taxes*), with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender that sells a participation agrees, at such Lender's request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of <u>Section 5.04</u> (*Obligation to Mitigate*) with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of <u>Section 11.13</u> (*Right of Set-Off*) as though it were a Lender; *provided* that, such Participant agrees to be subject to <u>Section 4.17</u> (*Sharing of Payments*) as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a Participant Register; *provided* that, no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant's interest in any commitments, loans or its other obligations under any Finance Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan or other obligation is in registered form under Section 5f.103-1(c) and proposed Section 1.163-5(b) of the United States Treasury Regulations (and any successor or amended versions). The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Credit Facility Agent (in its capacity as Credit Facility Agent) shall have no responsibility for maintaining a Participant Register.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Notes, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any central bank having jurisdiction over such Lender in accordance with any applicable law, and this <u>Section 11.04</u> (*Assignments*) shall not apply to any such pledge or assignment of a security interest; *provided* that, no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto; *provided further* that, in no event shall the applicable Federal Reserve Bank, central bank, pledgee or trustee be considered to be a "Lender" or "Issuing Bank," as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;The words "*execution*," "*signed*," "*signature*," and words of like import in any Lender Assignment Agreement shall be deemed to include electronic signatures or the keeping of

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records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable Government Rule, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;All assignments by a Lender of all or a portion of its rights and obligations hereunder with respect to then outstanding Commitments of a certain Type shall be made only as an assignment of the same percentage of outstanding Commitments of such Type and outstanding Loans of such Type, and, in the case an assignment of rights and obligations with respect to a Working Capital Commitment, the Non-Fronting Limit under this Agreement held by such Lender. If a Working Capital Lender has no unused Working Capital Commitments, assignments of outstanding Loans owing to such Working Capital Lender may be made, together with a *pro rata* portion of such Working Capital Lender's rights and obligations with respect to the Loans subject to such assignment, in such amounts, to such persons and on such terms as are permitted by and otherwise in accordance with <u>Section 11.04(b)</u> (*Assignments*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;No sale, assignment, transfer, negotiation or other disposition of the interests of any Lender or Issuing Bank hereunder or under the other Finance Documents shall be allowed if it could reasonably be expected to require securities registration under any laws or regulations of any applicable jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary herein, (i) in no event may any Working Capital Lender assign all or any portion of its Working Capital Loans, Working Capital Commitments, LC Loans or participations in Letters of Credit to an Affiliated Lender and (ii) subject to <u>Section 11.04(b)</u> (*Assignments*) and so long as no Loan Facility Event of Default has occurred and is Continuing, any Term Lender may assign all or any portion of its Term Loans and/or Term Loan Commitments hereunder to any Affiliated Lender (pursuant to an assignment agreement in which such Affiliated Lender shall identify itself), but only if after giving effect to such assignment, Affiliated Lenders shall not, in the aggregate, own or hold Term Loans and Term Loan Commitments with an aggregate principal amount in excess of 25% of the aggregate principal amount of the Term Loans then outstanding and the remaining Term Loan Commitments (calculated as of the date of such purchase) (the "*Affiliated Lender Cap*"); *provided* that, to the extent that any assignment to any Affiliated Lender would result in the aggregate principal amount of Term Loans and Term Loan Commitments held by Affiliated Lenders exceeding the Affiliated Lender Cap (after giving effect to any substantially simultaneous cancellation thereof), the assignment of such excess amount shall be null and void. To the extent that any Affiliated Lender holds Term Loans or Term Loan Commitments, no such Affiliated Lender shall (A) except as set forth in Section 7.4 (*Sponsor Voting*) of the Common Security and Account Agreement, (x) have any voting or approval rights under the Finance Documents or (y) be permitted to require the Credit Facility Agent, the Collateral Agent, the Intercreditor Agent or any other Senior Creditor to undertake any action (or refrain from taking any action) pursuant to or with respect to the Finance Documents, (B) be permitted to, in its capacity as a Lender, attend any meeting or conference call with the Credit Facility Agent, the

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Collateral Agent, the Intercreditor Agent or any other Senior Creditor unless the Borrower has been invited to attend such conference calls or meetings, receive any information from the Credit Facility Agent, the Collateral Agent, the Intercreditor Agent, any Lender or any other Senior Creditor unless such information has been made available to the Borrower (other than the right to receive notices of borrowings, notices of prepayments, and other administrative notices in respect of its Term Loans or Term Loan Commitments required to be delivered pursuant to <u>Article II</u> (*Commitments and Advances*) or <u>Article IV</u> (*Repayments, Prepayments, Interest and Fees*)) or have any rights of inspection or access relating to any Collateral Party or (C) be permitted to make or bring any claim, in its capacity as Lender, against the Credit Facility Agent, the Collateral Agent, the Intercreditor Agent or any other Lender or Senior Creditor with respect to the duties and obligations of such Person under the Finance Documents other than in the case of a material breach by the Credit Facility Agent, the Collateral Agent, the Intercreditor Agent or any other Lender or Senior Creditor to such Affiliated Lender (except with respect to any such breaches applicable to the Lenders generally unless the other Lenders have made or brought such claims).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Each Affiliated Lender, solely in its capacity as a Lender, hereby agrees, that, if any Collateral Party or any of their assets shall be subject to any voluntary or involuntary proceeding commenced under the Bankruptcy Code ("*Bankruptcy Proceedings*"), (i) such Affiliated Lender, solely in its capacity as a Lender, shall not take any step or action in such Bankruptcy Proceeding to object to, impede, or delay the exercise of any right or the taking of any action by the Credit Facility Agent (or the taking of any action by a third party that is supported by the Credit Facility Agent) in relation to such Affiliated Lender's claim with respect to its Term Loans or Term Loan Commitments (an "*Affiliated Lender Claim*") (including, without limitation, objecting to any debtor in possession financing, use of cash collateral, grant of adequate protection, sale or disposition, compromise, or plan of reorganization) so long as such Affiliated Lender is treated in connection with such exercise or action on the same or better terms as the other Lenders and (ii) with respect to any matter requiring the vote of Lenders during the pendency of a Bankruptcy Proceeding (including voting on any plan of reorganization), (A) the Advances held by such Affiliated Lender (and any Affiliated Lender Claim with respect thereto) shall be deemed to be voted in such Bankruptcy Proceeding in the same proportion as the allocation of voting with respect to such matter by those Lenders who are not Affiliated Lenders, so long as such Affiliated Lender is treated in connection with the exercise of such right or taking of such action on the same or better terms as the other Lenders, and (B) the Affiliated Lenders shall agree that the Credit Facility Agent shall vote on behalf of such Affiliated Lenders. For the avoidance of doubt, the Lenders and each Affiliated Lender, solely in its capacity as a Lender, agrees and acknowledge that the provisions set forth in this <u>Section 11.04(l)</u> (*Assignments*) constitute a "subordination agreement" as such term is contemplated by, and utilized in, Section 510(a) of the Bankruptcy Code, and, as such, would be enforceable for all purposes in any case where a Collateral Party has filed for protection under the Bankruptcy Code.

Section 11.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Benefits of Agreement</u>. Nothing in this Agreement or any other Finance Document, express or implied, shall be construed to give to any Person, other than the parties hereto, the Arrangers, and each of their successors and permitted assigns under this Agreement

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or any other Finance Document, Participants to the extent provided in <u>Section 11.04</u> (*Assignments*) and, to the extent expressly contemplated hereby, the Related Parties of each of the Credit Facility Agent, the Collateral Agent, the Lenders and the Issuing Banks, any benefit or any legal or equitable right or remedy under this Agreement.

Section 11.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts; Effectiveness</u>. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement shall become effective when it has been executed by the Credit Facility Agent and when the Credit Facility Agent has received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by portable document format ("pdf") shall be effective as delivery of a manually executed counterpart of this Agreement. The words "execution", "execute", "signed", "signature", and words of like import in or related to any document signed or to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the parties hereto, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

Section 11.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification by the Obligors</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors, jointly and severally, hereby agree to indemnify the Credit Facility Agent, each Lender, each Issuing Bank, each Arranger and each Related Party of any of the foregoing Persons in accordance with Section 12.18 (*Other Indemnities*) of the Common Security and Account Agreement and Section 2.15 (*Other Indemnities*) of the Intercreditor Agreement, which shall be applied *mutatis mutandis* to the indemnified parties under this Agreement, as well as with respect to reliance by such indemnified party on each notice purportedly given by or on behalf of the Borrower pursuant to <u>Section 11.10</u> (*Notices and Other Communications*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;To the extent that any Obligor for any reason fails to pay any amount required under Section 12.18 (*Other Indemnities*) of the Common Security and Account Agreement or clause (a) above to be paid by it to any of the Credit Facility Agent, any sub-agent thereof or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Credit Facility Agent, any such sub-agent, or such Related Party, as the case may be, such Lender's ratable share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; *provided* that, the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Credit Facility Agent or any sub-agent thereof in its capacity as such, or against any Related Party of any of the foregoing acting for the Credit Facility Agent or any sub-agent

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thereof in connection with such capacity. The obligations of the Lenders under this <u>Section 11.07(b)</u> (*Indemnification by the Obligors*) are subject to the provisions of <u>Section 2.06</u> (*Funding*). The obligations of the Lenders to make payments pursuant to this <u>Section 11.07(b)</u> (*Indemnification by the Obligors*) are several and not joint and shall survive the payment in full of the Loan Obligations and the termination of this Agreement. The failure of any Lender to make payments on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this <u>Section 11.07</u> (*Indemnification by the Obligors*) shall not supersede <u>Sections 5.03</u> (*Increased Costs*) and <u>5.06</u> (*Taxes*).

Section 11.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Rate Limitation</u>. Notwithstanding anything to the contrary contained in any Finance Document, the interest paid or agreed to be paid under the Finance Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Government Rule (the "*Maximum Rate*"). If the Credit Facility Agent or any Lender or any Issuing Bank shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Credit Facility Agent or any Lender or Issuing Bank exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Government Rule, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude 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 Loan obligations hereunder.

Section 11.09&nbsp;&nbsp;&nbsp;&nbsp;<u>No Waiver; Cumulative Remedies</u>. No failure by any Credit Facility Secured Party to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Finance Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Finance Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

Section 11.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices and Other Communications</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any communication between the parties hereto or notices provided herein to be given may be given as provided in Section 23.8 (*Notices*) of the Common Terms Agreement, which shall apply *mutatis mutandis* to this <u>Section 11.10</u> (*Notices and Other Communications*) as if fully set forth herein except that references to the Intercreditor Agent shall be deemed references to the Credit Facility Agent as the context requires.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Credit Facility Agent, the Issuing Banks, the Collateral Agent and the Lenders shall be entitled to rely and act upon any written notices purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii)

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the terms thereof, as understood by the recipient, varied from any confirmation thereof. All telephonic notices to and other telephonic communications with the Credit Facility Agent, the Collateral Agent, the Issuing Banks and the Lenders by the Borrower may be recorded by the Credit Facility Agent, the Collateral Agent, the Issuing Banks and the Lenders, as applicable, and each of the parties hereto hereby consents to such recording.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the above, nothing herein shall prejudice the right of the Credit Facility Agent, the Collateral Agent, any of the Issuing Banks and any of the Lenders to give any notice or other communication pursuant to any Finance Document in any other manner specified in such Finance Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in any other Finance Document, for so long as MUFG Bank, Ltd. is the Credit Facility Agent, the Borrower hereby agrees that it will provide to the Credit Facility Agent all information, documents and other materials that it is obligated to furnish to the Credit Facility Agent pursuant to the Finance Documents, including all notices, requests, financial statements, financial and other reports, certificates and other information materials, but excluding any such communication that (i) relates to any Advance, (ii) relates to the payment of any principal or other amount due under this Agreement prior to the scheduled date therefor, (iii) provides notice of any Loan Facility Event of Default or Unmatured Loan Facility Event of Default or (iv) is required to be delivered to satisfy any condition precedent to any Advance (all such non-excluded communications being referred to herein collectively as "*Communications*"), in an electronic/soft medium in a format acceptable to the Credit Facility Agent at the email addresses specified in Schedule Q – 2 (*Addresses for Notices to Facility Agents and Facility Lenders*) of the Common Terms Agreement. In addition, the Borrower agrees to continue to provide the Communications to the Credit Facility Agent in the manner specified in the Finance Documents but only to the extent requested by the Credit Facility Agent.

Section 11.11&nbsp;&nbsp;&nbsp;&nbsp;<u>USA Patriot Act Notice</u>. Each of the Lenders, the Credit Facility Agent, the Collateral Agent and the Issuing Banks hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that identifies the Borrower, the Guarantors and the Pledgor, which information includes the name and address of the Borrower, the Guarantors and the Pledgor and other information that will allow such Lender, the Credit Facility Agent, the Collateral Agent or such Issuing Bank, as applicable, to identify the Borrower, the Guarantors and the Pledgor in accordance with the USA Patriot Act.

Section 11.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments Set Aside</u>. To the extent that any payment by or on behalf of the Borrower is made to the Credit Facility Agent, the Collateral Agent, any Issuing Bank or any Lender, or the Credit Facility Agent, the Collateral Agent, any Issuing Bank or any Lender (as the case may be) exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Credit Facility Agent, the Collateral Agent, any Issuing Bank or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Bankruptcy Proceeding or otherwise, then (a)

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to the extent of such recovery, the Loan Obligation or part thereof originally intended to be satisfied by such payment shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and each Issuing Bank severally agrees to pay to the Credit Facility Agent or the Collateral Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the Credit Facility Agent or the Collateral Agent, as the case may be, plus interest thereon from the date of such demand to the date such payment is made at a rate *per annum* equal to the Federal Funds Effective Rate from time to time in effect. The obligations of the Lenders and the Issuing Banks under this <u>Section 11.12</u> (*Payments Set Aside*) shall survive the payment in full of the Loan Obligations and the termination of this Agreement.

Section 11.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Right of Set-Off</u>. The provisions set forth in Section 23.2 (*Right of Set-Off*) of the Common Terms Agreement are incorporated by reference and shall apply *mutatis mutandis* as if fully set forth herein.

Section 11.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If any provision of this Agreement or any other Finance Document is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Finance Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Section 11.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. Notwithstanding anything in this Agreement to the contrary, <u>Section 5.01</u> (*Illegality*), <u>Section 5.03</u> (*Increased Costs*), <u>Section 5.05</u> (*Funding Losses*), <u>Section 5.06</u> (*Taxes*), <u>Section 10.06</u> (*Indemnification by the Lenders*), <u>Section 11.07</u> (*Indemnification by the Obligors*), <u>Section 11.12</u> (*Payments Set Aside*) and <u>Section 11.20</u> (*No Recourse*) shall survive any termination of this Agreement. In addition, each representation and warranty made hereunder and in any other Finance Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties shall be considered to have been relied upon by the Credit Facility Secured Parties regardless of any investigation made by any Credit Facility Secured Party or on their behalf and notwithstanding that the Credit Facility Secured Parties may have had notice or knowledge of any Loan Facility Event of Default or Unmatured Loan Facility Event of Default at the time of any Advance or Loan hereunder, and shall continue in full force and effect as of the date made or any date referred to herein as long as any Loan or any other Senior Debt Obligation hereunder or under any other Finance Document shall remain unpaid or unsatisfied.

Section 11.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Treatment of Certain Information; Confidentiality</u>. The Credit Facility Agent, the Collateral Agent, and each of the Lenders and Issuing Banks agrees to maintain the confidentiality of the Confidential Information and all information disclosed to it concerning this Agreement and the other Finance Documents in accordance with Section 23.7 (*Confidentiality*) of the Common Terms Agreement. For the avoidance of doubt, nothing herein prohibits any

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individual from communicating or disclosing information regarding suspected violations of laws, rules, or regulations to a governmental, regulatory, or self-regulatory authority.

<u>Section 11.17&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Consequential Damages, Etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The provisions set forth in Section 23.18 (*Limitations on Liability*) of the Common Terms Agreement are incorporated by reference and shall apply *mutatis mutandis* as if fully set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;No party hereto or its Related Parties shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Finance Documents or the transactions contemplated hereby or thereby.

Section 11.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Litigation Payments</u>. To the extent that any party hereto may, in any action, suit or proceeding brought in any of the courts referred to in <u>Section 11.03(b)</u> (*Applicable Government Rule; Jurisdiction, Etc. - Submission to Jurisdiction*) or elsewhere arising out of or in connection with this Agreement or any other Finance Document to which it is a party, be entitled to the benefit of any provision of law requiring any other party hereto in such action, suit or proceeding to post security for the costs of such Person or to post a bond or to take similar action, each such Person hereby irrevocably waives such benefit, in each case to the fullest extent now or in the future permitted under the laws of the State of New York or, as the case may be, the jurisdiction in which such court is located.

Section 11.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Reinstatement</u>. This Agreement shall continue to be effective or be reinstated, as the case may be, if (and only to the extent that) any payment or performance of the obligations of the Borrower hereunder is rescinded, avoided, voidable, liable to be set aside, reduced or otherwise not properly payable to, or must otherwise be returned or restored by the Credit Facility Agent or any Lender or any Issuing Bank as a result of (a) Bankruptcy, insolvency, reorganization with respect to the Borrower or the Credit Facility Agent or any Lender or any Issuing Bank, (b) upon the dissolution of, or appointment of any intervenor, conservator, trustee or similar official for the Borrower, the Credit Facility Agent or any Lender or any Issuing Bank or for any substantial part of the Borrower's or any other such Person's assets, (c) as a result of any settlement or compromise with any Person (including the Borrower) in respect of such payment or otherwise, or (d) any similar event or otherwise and, in such case, the provisions of Section 10.1 (*Nature of Obligations*) of the Common Security and Account Agreement, which shall apply hereto *mutatis mutandis*.

Section 11.20&nbsp;&nbsp;&nbsp;&nbsp;<u>No Recourse</u>. The provisions set forth in Section 10.3 (*Limitation on Recourse*) of the Common Security and Account Agreement are incorporated by reference and shall apply *mutatis mutandis* as if fully set forth herein.

Section 11.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Intercreditor Agreement</u>. Any actions, consents, approvals, authorizations or discretion taken, given, made or exercised, or not taken, given, made or exercised by the Credit Facility Agent, acting as a Senior Creditor Group Representative on behalf of the Lenders and Issuing Banks, in accordance with the Intercreditor Agreement shall be binding on each

&nbsp;&nbsp;&nbsp;&nbsp;

------

Lender and Issuing Bank. Notwithstanding anything to the contrary herein, in the case of any inconsistency between this Agreement and the Intercreditor Agreement, the Intercreditor Agreement shall govern.

Section 11.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u>. This Agreement shall terminate and shall have no force and effect (except with respect to the provisions that expressly survive termination of this Agreement) in accordance with the provisions of Section 23.1 (*Termination*) of the Common Terms Agreement and if the Discharge Date with respect to the Loan Obligations has occurred.

Section 11.23&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement and Consent to Bail-In of Affected Financial Institutions</u>. Notwithstanding anything to the contrary in any Finance Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Finance Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of the applicable Resolution Authority.

Section 11.24&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgment Regarding any Supported QFCs</u>. To the extent that the Finance Documents provide support, through a guarantee or otherwise, for Hedging Instruments or any other agreement or instrument that is a QFC (such support "*QFC Credit Support*" and each such QFC a "*Supported QFC*"), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the "*U.S. Special Resolution Regimes*") in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Finance Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States):

&nbsp;&nbsp;&nbsp;&nbsp;

------

In the event a Covered Entity that is party to a Supported QFC (each, a "*Covered Party*") becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Finance Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Finance Documents were governed by the laws of the United States or a state of the United States.

Section 11.25&nbsp;&nbsp;&nbsp;&nbsp;<u>Data Protection; Information Exchange</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In compliance with the provisions of the General Data Protection Regulation (EU) 2016/679 of the European Parliament and of the European Council and the Spanish Organic Law on the Protection of Personal Data and the guarantee of digital rights, Banco Santander, S.A. ("*Banco Santander*") hereby informs each other party hereto that, such party's personal data included in this Agreement will be processed by Banco Santander for the purpose of managing the contractual relationship, and of maintaining any relationship, with such party. This processing is necessary and based on Banco Santander's legitimate interest and on compliance with legal obligations. Such personal data will not be disclosed to third parties unless there is a legal obligation to do so and will be kept for as long as the contractual relationship remains in effect and thereafter until any liabilities arising therefrom have expired. The parties may contact the Data Protection Officer of Banco Santander at [\*\*\*] and exercise their rights of access, rectification, erasure, blocking, data portability and restriction of processing (or any other recognized by law) by email to [\*\*\*]. The parties hereto may also submit any claims or requests relating to the protection of personal data to the Spanish Data Protection Agency at www.aepd.es.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Obligors hereby acknowledge the disclosure to other Santander Bank group companies of the information provided in the context of the due diligence process or "Know Your Customer," process, along with any relevant transactions-related information, that allows such companies to comply with (i) such group's Financial Crime Compliance internal policies, (ii) such group's legal obligations relating to the anti-money laundering and counter terrorism financing regulations and (iii) such group's regulatory reporting to the supervisory authorities. In this regard, the Obligors hereby guarantee that the data subjects of the personal data that may be included in the referred information have been duly informed of, and when required by applicable data protection regulation, have expressly consented to, the disclosure of their personal data to that effect.

&nbsp;&nbsp;&nbsp;&nbsp;

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Section 11.26&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment to Commitment Letter</u>. Pursuant to this Section 11.26, the parties hereto acknowledge and agree: (a) that the commitment of First-Citizens Bank & Trust Company under the Commitment Letter is being assumed by ING Capital LLC and Banco Santander, S.A., New York Branch equally among such two banks (as reflected on <u>Schedule I</u> (*Lenders; Commitments*) hereto); (b) First-Citizens Bank & Trust Company will be relieved from its rights and obligations under the Commitment Letter (as separately acknowledged by First-Citizens Bank & Trust Company); (c) the Borrower, the Guarantors and each Lender party hereto, constituting all Banks (as defined in the Commitment Letter) (other than First-Citizens Bank & Trust Company) hereby: (i) acknowledge and consent to the foregoing clauses (a) and (b); (ii) notwithstanding the provisions of Section 3 of the Commitment Letter, that the first $75,000,000 of the "Coordinated Reduction Process" (as defined in the Commitment Letter) will be allocated to ING Capital LLC and Banco Santander, S.A., New York Branch equally among such two banks (and thereafter, shall be allocated as specified in the Commitment Letter); and (iii) Section 14 of the Commitment Letter (*No Front Running*) shall not apply to the foregoing clause (c)(ii).

***[****Remainder of page intentionally blank. Next page is signature page.****]***

&nbsp;&nbsp;&nbsp;&nbsp;

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

VENTURE GLOBAL CP2 LNG, LLC,

as Borrower

By: <u>/s/ Jonathan W. Thayer</u> 

Name: Jonathan W. Thayer

Title: Chief Financial Officer

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

VENTURE GLOBAL CP EXPRESS, LLC,

as a Guarantor

By: <u>/s/ Jonathan W. Thayer</u> 

Name: Jonathan W. Thayer

Title: Chief Financial Officer

CP2 PROCUREMENT, LLC,

as a Guarantor

By: <u>/s/ Jonathan W. Thayer</u> 

Name: Jonathan W. Thayer

Title: Chief Financial Officer

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

Solely for purposes of Section 3.06 of the Credit Facility Agreement:

SUMITOMO MITSUI BANKING CORPORATION,

as Collateral Agent

By: <u>/s/ Juan Kreutz</u> 

Name: Juan Kreutz

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

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MUFG BANK, LTD.,

as Credit Facility Agent

By: <u>/s/ Lawrence Blat</u> 

Name: Lawrence Blat

Title: Authorized Signatory

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

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BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH,

as Term Lender and Working Capital Lender

By: <u>/s/ Miguel Pena</u>

Name: Miguel Pena

Title: Managing Director

By: <u>/s/ Erlantz Penalba Arce</u>

Name: Erlantz Penalba Arce

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

BANCO SANTANDER, S.A., NEW YORK BRANCH,

as Term Lender and Working Capital Lender

By: <u>/s/ Daniel Kostman</u>

Name: Daniel Kostman

Title: Executive Director

By: <u>/s/ Erika Wershoven</u>

Name: Erika Wershoven

Title: Executive Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

BANK OF AMERICA, N.A.,

as Issuing Bank, Term Lender and Working Capital Lender

By: <u>/s/ Christopher Baethge</u>

Name: Christopher Baethge

Title: Vice President

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

BARCLAYS BANK PLC,

as Term Lender and Working Capital Lender

By: <u>/s/ James Edmonds</u>

Name: James Edmonds

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

BAYERISCHE LANDESBANK, NEW YORK BRANCH,

as Term Lender and Working Capital Lender

By: <u>/s/ Andrew Kjoller</u>

Name: Andrew Kjoller

Title: Managing Director

By: <u>/s/ Kareem Hartl</u>

Name: Kareen Hartl

Title: Vice President

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

BAYERISCHE LANDESBANK, NEW YORK BRANCH,

as Term Lender and Working Capital Lender

By: <u>/s/ Peter O'Neill</u>

Name: Peter O'Neill

Title: Managing Director

By: <u>/s/ Anh Nguyen</u>

Name: Anh Nguyen

Title: Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

DEUTSCHE BANK AG, NEW YORK BRANCH,

as Term Lender and Working Capital Lender

By: <u>/s/ Jeremy Eisman</u>

Name: Jeremy Eisman

Title: Managing Director

By: <u>/s/ Blake Yaralian</u>

Name: Blake Yaralian

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

FIRSTBANK PUERTO RICO D/B/A FIRSTBANK FLORIDA,

as Term Lender

By: <u>/s/ Kevin P. Flynn</u>

Name: Kevin P. Flynn

Title: SVP, Corporate Banking Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

FLAGSTAR BANK, N.A.,

as Term Lender

By: <u>/s/ Bahar Lotfalian</u>

Name: Bahar Lotfalian

Title: Senior Vice President

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

GOLDMAN SACHS BANK USA,

as Term Lender and Working Capital Lender

By: <u>/s/ Robert Ehudin</u>

Name: Robert Ehudin

Title: Authorized Signatory

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, NEW YORK BRANCH,

As Term Lender and Working Capital Lender

By: <u>/s/ Lin (Allan) Sun</u>

Name: Lin (Allan) Sun

Title: Head of Project Finance, Executive Director

By: <u>/s/ Pedro Craveiro</u>

Name: Pedro Craveiro

Title: Assistant Vice President

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

ING CAPITAL LLC,

as Term Lender and Working Capital Lender

By: <u>/s/ Matthew Rosetti</u>

Name: Matthew Rosetti

Title: Managing Director

By: <u>/s/ William James</u>

Name: William James

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

INTESA SANPAOLO S.P.A., NEW YORK BRANCH,

as Term Lender and Working Capital Lender

By: <u>/s/ Nicholas A. Matacchieri</u>

Name: Nicholas A. Matacchieri

Title: Managing Director

By: <u>/s/ Marco Marafioti</u>

Name: Marco Marafioti

Title: Vice President

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

JPMORGAN CHASE BANK, N.A.,

As Term Lender and Working Capital Lender

By: <u>/s/ Omar Valdez</u>

Name: Omar Valdez

Title: Authorized Officer

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

LANDESBANK BADEN-WURTTEMBERG, NEW YORK BRANCH,

as Term Lender and Working Capital Lender

By: <u>/s/ Oliver Langel</u>

Name: Oliver Langel

Title: Managing Director

By: <u>/s/ Andre Sorokin</u>

Name: Andre Sorokin

Title: Associate

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

LANDESBANK HESSEN-THÜRINGEN GIROZENTRALE, NEW YORK BRANCH,

as Term Lender

By: <u>/s/ Karl Strombom</u>

Name: Karl Strombom

Title: [Illegible]

By: <u>/s/ Kush Shah</u>

Name: Kush Shah

Title: [Illegible]

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

MIZUHO BANK, LTD.,

as Term Lender and Working Capital Lender

By: <u>/s/ Donna DeMagistris</u>

Name: Donna DeMagistris

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

MUFG BANK, LTD.,

as Term Lender and Working Capital Lender

By: <u>/s/ Chip Lewis</u>

Name: Chip Lewis

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

NATIONAL BANK OF CANADA,

as Term Lender and Working Capital Lender

By: <u>/s/ Andrew Nguyen</u>

Name: Andrew Nguyen

Title: Authorized Signatory

By: <u>/s/ John Hunt</u>

Name: John Hunt

Title: Authorized Signatory

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

NORDDEUTSCHE LANDESBANK GIROZENTRALE, NEW YORK BRANCH,

as Term Lender and Working Capital Lender

By: <u>/s/ Oscar Mak</u>

Name: Oscar Mak

Title: Senior Director

By: <u>/s/ Sarah Bensouda</u>

Name: Sarah Bensouda

Title: Analyst

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

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RAYMOND JAMES BANK,

as Term Lender

By: <u>/s/ Robert F. Moyle</u>

Name: Robert F. Moyle

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

REGIONS BANK,

as Term Lender

By: <u>/s/ Tedrick Tarver</u>

Name: Tedrick Tarver

Title: Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

ROYAL BANK OF CANADA,

as Issuing Bank, Term Lender and Working Capital Lender

By: <u>/s/ Don. J. McKinnerney</u>

Name: Don. J. McKinnerney

Title: Authorized Signatory

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

STANDARD CHARTERED BANK,

as Term Lender and Working Capital Lender

By: <u>/s/ Sridhar Nagarajan</u>

Name: Sridhar Nagarajan

Title: Managing Director, Regional Head -IDFG

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

SUMITOMO MITSUI BANKING CORPORATION,

as Term Lender and Working Capital Lender

By: <u>/s/ Juan Kreutz</u>

Name: Juan Kreutz

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

THE BANK OF NOVA SCOTIA, HOUSTON BRANCH,

as Term Lender and Working Capital Lender

By: <u>/s/ Joe Lattanzi</u>

Name: Joe Lattanzi

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

TRUIST BANK,

as Term Lender and Working Capital Lender

By: <u>/s/ Dillon McNeill</u>

Name: Dillon McNeill

Title: Vice President

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

------

WELLS FARGO BANK, N.A.,

as Term Lender and Working Capital Lender

By: <u>/s/ Nathan Starr</u>

Name: Nathan Starr

Title: Managing Director

*[Signature Page to Credit Facility Agreement]*

&nbsp;&nbsp;&nbsp;&nbsp;

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SCHEDULE I **TO<br>CREDIT FACILITY AGREEMENT<br>**<br> Lenders, Commitments

<u>Term Loan Commitments</u><sup>1</sup>

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| | |
|:---|:---|
| **<u>Term Lenders</u>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>Term Loan Commitments</u>** |
| Banco Santander, S.A., New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| ING Capital LLC | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Banco Bilbao Vizcaya Argentaria, S.A. New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Barclays Bank Plc | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Canadian Imperial Bank of Commerce, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Goldman Sachs Bank USA | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Intesa Sanpaolo S.P.A, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Landesbank Baden-Württemberg, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Mizuho Bank, Ltd. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| MUFG Bank, Ltd. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Royal Bank of Canada | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Sumitomo Mitsui Banking Corporation | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Standard Chartered Bank | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Truist Bank | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Bank of America, N.A. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Deutsche Bank AG, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| National Bank of Canada | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| The Bank of Nova Scotia, Houston Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Wells Fargo Bank, N.A. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Bayerische Landesbank, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Norddeutsche Landesbank Girozentrale, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |

---

<sup>1</sup> *Term Loan Commitments have been rounded to the nearest cent for purposes of display on this Schedule I.*

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| **<u>Term Lenders</u>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>Term Loan Commitments</u>** |
| Industrial and Commercial Bank of China Limited, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Landesbank Hessen-Thüringen Girozentrale, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Regions Bank | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Raymond James Bank | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Flagstar Bank, N.A. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| FirstBank Puerto Rico d/b/a FirstBank Florida | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| **Total** | &nbsp;&nbsp;&nbsp;**$11250000000.00** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

<u>Working Capital Commitments</u><sup>2</sup>

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>Working Capital Lenders</u>** | **<u>Working Capital Commitment</u>** |
| Banco Santander, S.A., New York Branch | $[\*\*\*] |
| ING Capital LLC | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Banco Bilbao Vizcaya Argentaria, S.A. New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Barclays Bank Plc | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Canadian Imperial Bank of Commerce, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Goldman Sachs Bank USA | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Intesa Sanpaolo S.P.A, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Landesbank Baden-Württemberg, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Mizuho Bank, Ltd. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| MUFG Bank, Ltd. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Royal Bank of Canada | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Sumitomo Mitsui Banking Corporation | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Standard Chartered Bank | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Truist Bank | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Bank of America, N.A. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Deutsche Bank AG, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| National Bank of Canada | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| The Bank of Nova Scotia, Houston Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Wells Fargo Bank, N.A. | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Bayerische Landesbank, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Norddeutsche Landesbank Girozentrale, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| Industrial and Commercial Bank of China Limited, New York Branch | &nbsp;&nbsp;&nbsp;$[\*\*\*] |
| **Total** | &nbsp;&nbsp;&nbsp;**$850000000.00** |

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<sup>2</sup> *Working Capital Commitments have been rounded to the nearest cent for purposes of display on this Schedule I.*

&nbsp;&nbsp;&nbsp;&nbsp;

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SCHEDULE II **TO<br>CREDIT FACILITY AGREEMENT<br>**<br> Issuing Bank Limits<sup>3</sup>

---

| | | | |
|:---|:---|:---|:---|
| **<u>Issuing Bank</u>** | **<u>Fronting Limit</u>** | **<u>Non-Fronting Limit</u>** | **<u>Issuing Bank Limit</u>** |
| Bank of America N.A. | $[\*\*\*] | $[\*\*\*] | $200000000 |
| Royal Bank of Canada | $[\*\*\*] | $[\*\*\*] | $200000000 |

---

<sup>3</sup> &nbsp;&nbsp;&nbsp;&nbsp;For the avoidance of doubt, in accordance with Section 3.01(b) (*Letters of Credit)* of the Credit Facility Agreement, no Issuing Bank shall be required to issue any Letter of Credit or any amendment to increase the face or stated amount of any Letter of Credit if, after such issuance or amendment, the aggregate Working Capital Commitment Exposure for all Working Capital Lenders shall exceed the Aggregate Working Capital Commitments, among the other terms and conditions set forth in the Credit Facility Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;

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SCHEDULE III **TO<br>CREDIT FACILITY AGREEMENT<br>**<br> Amortization Schedule

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

SCHEDULE IV **TO<br>CREDIT FACILITY AGREEMENT<br>**<br> Credit Facility Agent Account Details

Bank: [\*\*\*]

ABA: [\*\*\*]

Account #: [\*\*\*]

Account Name: [\*\*\*]

Attention: [\*\*\*]

Ref: [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;

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SCHEDULE V **TO<br>CREDIT FACILITY AGREEMENT<br>**<br> Existing Letter of Credit

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

**EXHIBIT A TO<br>CREDIT FACILITY AGREEMENT<br>Definitions**

"*Advance*" means, as context requires, a Term Loan Advance, a Working Capital Advance, or both.

"*Advance Date*" means, with respect to each Advance, the date on which funds are disbursed by the Lenders (or the Credit Facility Agent on their behalf) to the Borrower.

"*Affected Financial Institution*" means (a) any EEA Financial Institution or (b) any UK Financial Institution.

"*Affiliated Lender*" means Sponsor or any of its Affiliates.

"*Affiliated Lender Cap*" has the meaning specified in <u>Section 11.04(k)</u> (*Assignments*).

"*Affiliated Lender Claim*" has the meaning specified in <u>Section 11.04(l)</u> (*Assignments*).

"*Aggregate Commitments*" means, as context requires, the sum of the Term Loan Commitments or the sum of the Working Capital Commitments.

"*Aggregate Term Loan Commitments*" means the sum of the Term Loan Commitments.

"*Aggregate Working Capital Commitments*" means the sum of the Working Capital Commitments.

"*Agreement*" has the meaning provided in the preamble.

"*Amortization Schedule*" means the amortization schedule set forth in <u>Schedule III</u> (*Amortization Schedule*).

"*Applicable Margin*" means for each type of Loan (and, in respect of SOFR Loans, with the applicable Interest Period) identified below during each applicable period set forth in the table shown below, the applicable *per annum* percentage under the relevant column heading below:

&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Applicable Period** | **Base Rate Loans** | **SOFR Loans** |
| From the Closing Date until the third (3rd) anniversary of the Closing Date | 1.25% | 2.25% |
| From the third (3rd) anniversary of the Closing Date until the fifth (5th) anniversary of the Closing Date | 1.50% | 2.50% |
| From the fifth (5th) anniversary of the Closing Date until the Final Maturity Date | 1.75% | 2.75% |

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"*Arrangers*" means each of the Initial Coordinating Lead Arrangers, the Coordinating Lead Arrangers, the Senior Managing Agents, the Closing Date Participants, the Syndication Agents and the Documentation Banks, and each an "*Arranger*".

"*Availability Period*" means, as context requires, the Term Loan Availability Period or the Working Capital Loan Availability Period.

"*Available Tenor*" means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (a) if such Benchmark is a term rate, any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an interest period pursuant to this Agreement or (b) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark pursuant to this Agreement, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of "Interest Period" pursuant to <u>Section 5.07(d)</u> (*Replacement Benchmark Setting - Unavailability of Tenor of Benchmark*).

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

"*Bail-In Legislation*" means, (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).

"*Bankruptcy Proceeding*" has the meaning set forth in <u>Section 11.04(l)</u> (*Assignments*).

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"*Base Rate*" means, for any day, a fluctuating rate per annum equal to the highest of (a) the Federal Funds Effective Rate plus 0.50%, (b) the prime rate published in The Wall Street Journal for such day; *provided* that, if The Wall Street Journal ceases to publish for any reason such rate of interest, "Base Rate" shall mean the prime lending rate as set forth on the Bloomberg page PRIMBB Index (or successor page) for such day (or such other service as determined by the Credit Facility Agent from time to time for purposes of providing quotations of prime lending interest rates) and (c) Term SOFR for an interest period of one month plus 1.00%; *provided* that, for purposes of this Agreement, if the Base Rate for any interest period is less than zero percent (0%), it shall be deemed zero percent (0%) for such interest period. 

"*Base Rate Loan*" means any Loan bearing interest at a rate determined by reference to the Base Rate and the provisions of <u>Article II</u> (*Commitments and Advance*) and <u>Article IV</u> (*Repayments, Prepayments, Interest and Fees*).

"*Base Rate Term SOFR Determination Day*" has the meaning provided in the definition of "Term SOFR."

"*Benchmark*" means, initially, the Term SOFR Reference Rate; *provided* that, if a Benchmark Transition Event has occurred with respect to the Term SOFR Reference Rate or the then-current Benchmark, then "*Benchmark*" means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to <u>Section 5.07(a)</u> (*Replacement Benchmark Setting - Benchmark Replacement*).

"*Benchmark Replacement*" means, with respect to any Benchmark Transition Event, the sum of: (a) the alternate benchmark rate that has been selected by the Credit Facility Agent and the Borrower giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement to the then-current Benchmark for US Dollar-denominated syndicated credit facilities at such time and (b) the related Benchmark Replacement Adjustment; *provided* that, if such Benchmark Replacement as so determined would be less than the Floor, such Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other applicable Finance Documents.

"*Benchmark Replacement Adjustment*" means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Credit Facility Agent and the Borrower giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for US Dollar-denominated syndicated credit facilities at such time.

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"*Benchmark Replacement Date*" means the earliest to occur of the following events with respect to the then-current Benchmark:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;in the case of clause (a) or (b) of the definition of "Benchmark Transition Event," the later of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;in the case of clause (c) of the definition of "Benchmark Transition Event," the first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by or on behalf of the administrator of such Benchmark (or such component thereof) or the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be non-representative or non-compliant with or non-aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks; provided that such non-representativeness, non-compliance or non-alignment will be determined by reference to the most recent statement or publication referenced in such clause (c) and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date.

For the avoidance of doubt, the "Benchmark Replacement Date" will be deemed to have occurred in the case of clause (a) or (b) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).

"*Benchmark Transition Event*" means the occurrence of one or more of the following events with respect to the then-current Benchmark:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely; *provided* that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely; *provided* that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) or the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are not, or as of a specified future date, will not be, representative or in compliance with or aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks.

For the avoidance of doubt, a "Benchmark Transition Event" will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof)

"*Benchmark Transition Start Date*" means, in the case of a Benchmark Transition Event, the earlier of (a) the applicable Benchmark Replacement Date and (b) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication).

"*Benchmark Unavailability Period*" means, the period (if any) (a) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Finance Document in accordance with <u>Section 5.07</u> (*Replacement Benchmark Setting*) and (b) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Finance Document in accordance with <u>Section 5.07</u> (*Replacement Benchmark Setting*).

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

"*BHC Act Affiliate*" of a party means an "affiliate" (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.

"*Closing Date Participant*" means each of Flagstar Bank, N.A. and FirstBank Puerto Rico d/b/a FirstBank Florida, in each case, not in its individual capacity but as participant hereunder.

"*Commitment*" means, as context requires, a Term Loan Commitment, a Working Capital Commitment or both.

"*Commitment Fee Rate*" means, during each applicable period set forth in the table shown below, the applicable *per annum* percentage below:

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| | |
|:---|:---|
| **Applicable Period** | **Commitment Fee Rate** |
| From the Closing Date until the third (3rd) anniversary of the Closing Date | 0.7875% |
| From the third (3rd) anniversary of the Closing Date until the fifth (5th) anniversary of the Closing Date | 0.8750% |
| From the fifth (5th) anniversary of the Closing Date until the Final Maturity Date | 0.9625% |

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"*Commitment Fees*" has the meaning provided in <u>Section 4.15(b)</u> (*Fees*).

"*Commitment Percentage*" means (a) as to any Working Capital Lender at any time, the percentage that such Working Capital Lender's Working Capital Commitment *less* its Working Capital Commitment Exposure then constitutes of the Aggregate Working Capital Commitment *less* the total Working Capital Commitment Exposure of all Working Capital Lenders, (b) as to any Term Lender at any time, the percentage that such Term Lender's Term Loan Commitment constitutes of the Aggregate Term Loan Commitment, and (c) as to any Issuing Bank at any time, the percentage that such Issuing Bank's Issuing Bank Limit less the available balance of Letters of Credit issued by such Issuing Bank then constitutes of the aggregate Issuing Bank Limits for all Issuing Banks less the total available balance of Letters of Credit issued by all Issuing Banks.

"*Communications*" has the meaning provided in <u>Section 11.10(d)</u> (*Notices and Other Communications*).

"*Conforming Changes*" means, with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of "Base Rate," the definition of "Business Day," the definition of "U.S. Government Securities Business Day," the definition of "Interest Period" or any similar or analogous definition (or the addition of a concept of "interest period"), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of <u>Section 5.05</u> (*Funding Losses*) and other technical, administrative or operational matters) that the Credit Facility Agent decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration thereof by the Credit Facility Agent in a manner substantially consistent with market practice (or, if the Credit Facility Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Credit Facility Agent determines that no market practice for the administration of any such rate exists, in such other manner of administration as the Credit Facility Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Finance Documents).

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"*Coordinating Lead Arranger*" means each of Bank of America, N.A., Deutsche Bank AG, New York Branch, National Bank of Canada, The Bank of Nova Scotia, Houston Branch, Wells Fargo Securities, LLC, Bayerische Landesbank, New York Branch and Norddeutsche Landesbank Girozentrale, New York Branch, in each case, not in its individual capacity but as coordinating lead arranger hereunder.

"*Covered Entity*" means any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;a "covered entity" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a "covered bank" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;a "covered FSI" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

"*Covered Party*" has the meaning provided in <u>Section 11.24</u> (*Acknowledgment Regarding any Supported QFCs*).

"*Credit Facility Agent*" has the meaning provided in the preamble.

"*Credit Facility Secured Parties*" means the Lenders, the Issuing Banks, the Credit Facility Agent, the Collateral Agent and each of their respective successors and permitted assigns, in each case in connection with the Credit Facility Agreement.

"*Default Right*" has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

"*Defaulting Lender*" means a Lender which (a) has defaulted in its obligations to fund all or any portion of any Term Loan or otherwise failed to comply with its obligations under <u>Section 2.01</u> (*Term Loans*), <u>Section 2.03</u> (*Working Capital Loans*), <u>Section 2.06</u> (*Funding*) or <u>Section 3.02</u> (*Reimbursement to Issuing Banks*), unless (i) such default or failure is no longer continuing or has been cured within three (3) Business Days after such default or failure or (ii) such Lender notifies the Credit Facility Agent and the Borrower in writing that such failure is the result of such Lender's good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, (b) has notified the Borrower and/or the Credit Facility Agent that it does not intend to comply with its obligations under <u>Section 2.01</u> (*Term Loans*), <u>Section 2.03</u> (*Working Capital Loans*), <u>Section 2.06</u> (*Funding*) or <u>Section 3.02</u> (*Reimbursement to Issuing Banks*) or has made a public statement to that effect, unless such Lender notifies the Credit Facility Agent and the Borrower in writing that such intention is the result of such Lender's good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, (c) has failed, within three (3) Business Days, after written request by the Credit Facility Agent or the Borrower, to confirm in writing to the Credit Facility Agent and the Borrower that it will comply with its prospective

&nbsp;&nbsp;&nbsp;&nbsp;

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funding obligations under <u>Section 2.03</u> (*Working Capital Loans*), <u>Section 2.06</u> (*Funding*) or <u>Section 3.02</u> (*Reimbursement to Issuing Banks*) (*provided* that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Credit Facility Agent and the Borrower), (d) has, or has a direct or indirect parent company that has, other than via Undisclosed Administration, (i) become the subject of a Bankruptcy Proceeding, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity or (e) has become the subject of a Bail-In Action; *provided* that, for the avoidance of doubt, a Lender shall not be a Defaulting Lender solely by virtue of (i) the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority or (ii) in the case of a solvent Person, the precautionary appointment of an administrator, guardian, custodian or other similar official by a Governmental Authority under or based on the law of the country where such Person is subject to home jurisdiction supervision if Government Rule requires that such appointment not be publicly disclosed; in each case, where such action does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Credit Facility Agent that a Lender is a Defaulting Lender under any one or more of the clauses above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender upon delivery of written notice of such determination to the Borrower and each Lender.

"*Documentation Bank*" means ING Capital LLC and Banco Santander, S.A., New York Branch, in each case, not in its individual capacity, but as documentation bank.

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

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

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

"*Eligible Assignee*" means (a) an existing Lender, (b) any Affiliate of a Lender, (c) any Approved Fund with respect to a Lender or (d) 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 (excluding in each such case any Disqualified Institution or any Lender that is a Defaulting Lender or an Affiliate or

&nbsp;&nbsp;&nbsp;&nbsp;

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Subsidiary thereof); *provided* that, (i) none of the foregoing clauses (a) through (d) shall include a natural person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person) and (ii) for any assignment, novation or transfer during the Term Loan Availability Period (or in the event of an assignment of a Working Capital Commitment, the Working Capital Loan Availability Period) made in reliance on clause (b) or (c) above, such Lender or its rated Affiliate shall have agreed in writing with the Borrower to remain obligated to promptly fund any duly requested disbursement of the Commitment assigned, novated or transferred to such assignee or transferee (or any part thereof) should such assignee or transferee default in its obligation to fund any portion of the Commitment assigned or transferred to it.

"*Erroneous Payment*" has the meaning assigned to it in <u>Section 10.15(a)</u> (*Erroneous Payments*).

"*Erroneous Payment Deficiency Assignment*" has the meaning assigned to it in <u>Section 10.15(d)(i)</u> (*Erroneous Payments*).

"*Erroneous Payment Impacted Class*" has the meaning assigned to it in <u>Section 10.15(d)(i)</u> (*Erroneous Payments*).

"*Erroneous Payment Return Deficiency*" has the meaning assigned to it in <u>Section 10.15(d)(i)</u> (*Erroneous Payments*).

"*Erroneous Payment Subrogation Rights*" has the meaning assigned to it in <u>Section 10.15(e)</u> (*Erroneous Payments*).

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

"*Existing Letter of Credit*" means the letters of credit described in <u>Schedule V</u> (*Existing Letter of Credit*). Each Existing Letter of Credit shall be a Fronted Letter of Credit.

"*Federal Funds Effective Rate*" means, for any day, the rate calculated by the Federal Reserve Bank of New York based on such day's federal funds transactions by depositary institutions, as determined in such manner as shall be set forth on the Federal Reserve Bank of New York's Website from time to time, and published on the next succeeding Business Day by the Federal Reserve Bank of New York as the federal funds effective rate. If the Federal Funds Effective Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.

"*Federal Reserve Board*" means the Board of Governors of the Federal Reserve System of the United States.

"*Fees*" means, collectively, each of the fees payable by the Borrower for the account of any Lender, any Issuing Bank or the Credit Facility Agent pursuant to <u>Section 4.15</u> (*Fees*).

"*Final Maturity Date*" means July 28, 2032.

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"*First Repayment Date*" has the meaning provided in <u>Section 4.01(c)</u> (*Repayment of Term Loan Advances*).

"*Floor*" means a rate of interest equal to 0.0%.

"*Fronted Letter of Credit*" means a Letter of Credit other than a Non-Fronted Letter of Credit.

"*Fronting Exposure*" means, at any time there is a Defaulting Lender, with respect to any Issuing Bank, such Defaulting Lender's pro rata share of outstanding LC Exposure with respect to Letters of Credit issued by such Issuing Bank, other than LC Exposure as to which such Defaulting Lender's participation obligation has been reallocated to other Working Capital Lenders or cash collateralized in accordance with the terms hereof.

"*Fronting Fee*" has the meaning provided in <u>Section 4.15(d)</u> (*Fees*).

"*Fronting Limit*" means, at any time, with respect to any Issuing Bank, the amount set forth opposite the name of such Issuing Bank in the column entitled "Fronting Limit" on <u>Schedule II</u> (*Issuing Bank Limits*), or, in the case of any Working Capital Lender that becomes an Issuing Bank hereunder pursuant to <u>Section 3.05</u> (*Resignation as an Issuing Bank*) or otherwise, such amount as set forth in the agreement evidencing the appointment of such Working Capital Lender as an Issuing Bank.

"*Guarantee*" means the guarantee issued pursuant to the Common Security and Account Agreement by the Guarantors. The terms "Guarantee" and "Guaranteed" used as verbs shall have correlative meanings.

"*Illegality Notice*" has the meaning provided in <u>Section 5.01</u> (*Illegality*).

"*Incremental Amendment*" has the meaning given in <u>Section 2.08(c)</u> (*Incremental Commitments*).

"*Incremental Commitment*" means, as context requires, an Incremental Term Loan Commitment, an Incremental Working Capital Commitment or both.

"*Incremental Lender/Issuing Bank*" has the meaning given in <u>Section 2.08(b)</u> (*Incremental Commitments*).

"*Initial Coordinating Lead Arranger*" means each of Banco Santander, S.A., New York Branch, ING Capital LLC, Banco Bilbao Vizcaya Argentaria, S.A. New York Branch, Barclays Bank Plc, Canadian Imperial Bank of Commerce, New York Branch, Goldman Sachs Bank USA, Intesa Sanpaolo S.P.A, New York Branch, JPMorgan Chase Bank, N.A., Landesbank Baden-Württemberg, New York Branch, Mizuho Bank, Ltd., MUFG Bank, Ltd., Royal Bank of Canada, Sumitomo Mitsui Banking Corporation, Standard Chartered Bank and Truist Securities Inc., in each case, not in its individual capacity but as initial coordinating lead arranger hereunder.

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"*Intercompany Loan Agreement*" has the meaning provided in the recitals.

"*Interest Payment Date*" has the meaning provided in Section 4.04(a) (*Interest Payment Dates*).

"*Interest Period*" means in connection with a SOFR Loan, subject, in each case to the availability thereof, an interest period of one (1), three (3) or six (6) months (or, if available to all applicable Lenders, such other periods as may be agreed by the Credit Facility Agent (including with respect to the Applicable Margin agreed to by all the Lenders with respect to any such Interest Period)), as selected by the Borrower in the applicable Disbursement Request or Interest Period Notice, (a) initially, commencing on the Closing Date and ending on September 30, 2025; and (b) thereafter, commencing on the day on which the immediately preceding Interest Period expires; *provided* that, (i) 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; (ii) 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 (iii) of this definition, end on the last Business Day of a calendar month; (iii) no Interest Period shall extend beyond the Final Maturity Date; and (iv) no tenor that has been removed from this definition pursuant to <u>Section 5.07(d)</u> (*Benchmark Replacement Setting*) shall be available for specification in such Disbursement Request or Interest Period Notice.

"*Interest Period Notice*" means a notice in substantially the form attached hereto as <u>Exhibit D</u> (*Form of Interest Period Notice*), executed by an Authorized Officer of the Borrower or, in the case of an Advance, a Disbursement Request.

"*ISP98*" has the meaning given in <u>Section 3.01(g)</u> (*Letters of Credit*).

"*Issuing Bank*" means (a) with respect to the Existing Letter of Credit, Bank of America, N.A., as applicable, in its capacity as the issuer thereof, as set forth on <u>Schedule V</u> (*Existing Letters of Credit*) and (b) with respect to any other Letter of Credit each Working Capital Lender identified as an "Issuing Bank" on <u>Schedule II</u> (*Issuing Bank Limits*), any other Working Capital Lender designated by the Borrower after the date hereof that has, or whose credit support provider has, a credit rating of A3 or higher by Moody's, A- or higher by S&P or an equivalent rating by another nationally-recognized credit rating agency, and that has agreed in writing in its sole discretion to accept such designation as an Issuing Bank and to be bound by all of the terms contained in this Agreement and the other Finance Documents binding on an Issuing Bank in such capacity (*provided* that, a copy of such agreement has been delivered to the Credit Facility Agent), it being understood that such agreement may contain additional conditions to, or limitations on, such Issuing Bank's obligation to issue Letters of Credit hereunder (including limits on the aggregate available balance of Letters of Credit at any one time outstanding that may be issued by such Issuing Bank), and any such conditions or limitations are hereby incorporated by reference into this Agreement to the same extent and with the same force as if fully set forth herein. Each reference to an Issuing Bank contained in this Agreement and the other Finance Documents shall be deemed to refer to the applicable Working Capital Lender

&nbsp;&nbsp;&nbsp;&nbsp;

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solely in its capacity as the issuer of Letters of Credit hereunder and not in its capacity as a Working Capital Lender, and each reference to a Working Capital Lender contained in this Agreement and the other Finance Documents shall be deemed to refer to such Working Capital Lender in its capacity as such and not in its capacity (if applicable) as an Issuing Bank.

"*Issuing Bank Limit*" means, at any time, with respect to any Issuing Bank, its Issuing Bank Limit identified opposite its name on <u>Schedule II</u> (*Issuing Bank Limits*), or, in the case of any Working Capital Lender that becomes an Issuing Bank hereunder pursuant to <u>Section 3.05</u> (*Resignation as an Issuing Bank*) or otherwise, in each case, after the Closing Date, such amount as set forth in the agreement evidencing the appointment of such Working Capital Lender as an Issuing Bank, as the same may be (a) reduced from time to time in accordance with <u>Section 2.07</u> (*Termination or Reduction of Commitments*), (b) increased from time to time in accordance with <u>Section 2.08</u> (*Incremental Commitments*), and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to <u>Section 11.04</u> (*Assignments*).

"*LC Available Amount*" means, for any Letter of Credit on any date of determination, the maximum amount available to be drawn under such Letter of Credit at any time on or after such date (assuming the satisfaction of all conditions for drawing enumerated therein).

"*LC Cash Collateral Account*" means, an interest-bearing cash collateral account established upon the occurrence of a Loan Facility Event of Default by the Credit Facility Agent in its name for the benefit of the Working Capital Lenders and Issuing Banks, subject to the terms of this Agreement and the Common Security and Account Agreement.

"*LC Exposure*" means, as of any time of determination and with respect to any Issuing Bank, the sum of (a) the aggregate undrawn amount of the outstanding Letters of Credit issued by such Issuing Bank at such time plus (b) the aggregate amount of all LC Loans made by such Issuing Bank and in which no other Working Capital Lender is required to participate that have not yet been repaid at such time plus (c) the aggregate amount of LC Reimbursement Payments that the Borrower has not yet repaid and have not yet been converted to LC Loans as of such time.

"*LC Fee*" has the meaning provided in <u>Section 4.15(c)</u> (*Fees*).

"*LC Fee Rate*" means, during each applicable period set forth in the table shown below, the applicable *per annum* percentage below:

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| **Applicable Period** | **LC Fee Rate** |
| From the Closing Date until the third (3rd) anniversary of the Closing Date | 2.25% |
| From the third (3rd) anniversary of the Closing Date until the fifth (5th) anniversary of the Closing Date | 2.50% |
| From the fifth (5th) anniversary of the Closing Date until the Final Maturity Date | 2.75% |

---

"*LC Loan*" means a loan by a Working Capital Lender to the Borrower deemed made pursuant to <u>Section 3.02(c)</u> and <u>Section 3.02(f)</u> (*Reimbursement to Issuing Banks*).

"*LC Payment Notice*" has the meaning provided in <u>Section 3.02(a)</u> (*Reimbursement to Issuing Banks*).

"*LC Reimbursement Payment*" has the meaning provided in <u>Section 3.02(b)</u> (*Reimbursement to Issuing Banks*).

"*Lender*" means, as context requires, a Term Lender, a Working Capital Lender, or both.

"*Lender Assignment Agreement*" means a Lender Assignment Agreement, substantially in the form of <u>Exhibit E</u> (*Form of Lender Assignment Agreement*).

"*Letter of Credit*" means (a) the Existing Letter of Credit and (b) each other standby letter of credit substantially in a form as is otherwise reasonably acceptable to the Issuing Bank issuing such letter of credit, in each case issued pursuant to <u>Section 3.01</u> (*Letters of Credit*) and in accordance with the policies and procedures of such Issuing Bank. 

"*Loan*" means, as context requires, a Term Loan, a Working Capital Loan, an LC Loan or each of the foregoing.

"*Loan Obligations*" means, collectively, all Senior Debt Obligations arising under this Agreement, including the Obligors' obligations to pay, discharge and satisfy the Erroneous Payment Subrogation Rights.

"*Maximum Rate*" has the meaning provided in <u>Section 11.08</u> (*Interest Rate Limitation*).

"*Non-Consenting Lender*" means, in respect of a Lender, if such Lender has failed to consent to a proposed amendment, waiver, consent or termination which pursuant to the terms of <u>Section 11.01</u> (*Decisions, Amendments, Etc.*) requires the consent of all of the Lenders or all affected Lenders and with respect to which Lenders representing at least 50% of the sum of (i) the aggregate undisbursed Commitments plus (ii) the then aggregate outstanding principal amount of the Loans (excluding in each such case any Lender that is a Defaulting Lender or, except as otherwise provided in Section 7.4 (*Sponsor Voting*) of the Common Security and

&nbsp;&nbsp;&nbsp;&nbsp;

------

Account Agreement, a Collateral Party, the Sponsor or any of Sponsor's Affiliates, and each Commitment and any outstanding principal amount of any Loan of any such Term Lender) or Lenders affected by such proposed amendment, waiver, consent or termination, as the case may be, shall have granted their consent.

"*Non-Defaulting Lender*" means, at any time, a Lender that is not a Defaulting Lender.

"*Non-Fronted LC Amount*" has the meaning provided in <u>Section 3.01(f)</u> (*Letters of Credit*).

"*Non-Fronted Letter of Credit*" means a Letter of Credit identified by the Borrower as such in the Request for Issuance.

"*Non-Fronting Limit*" means, at any time, with respect to any Issuing Bank, its Non-Fronting Limit identified opposite its name on <u>Schedule II</u> (*Issuing Bank Limits*), or, in the case of any Working Capital Lender that becomes an Issuing Bank hereunder pursuant to <u>Section 3.05</u> (*Resignation as an Issuing Bank*) or otherwise, such amount as set forth in the agreement evidencing the appointment of such Working Capital Lender as an Issuing Bank, as the same may be (a) reduced from time to time in accordance with <u>Section 2.07</u> (*Termination or Reduction of Commitments*), (b) increased from time to time in accordance with <u>Section 2.08</u> (*Incremental Commitments*), and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to <u>Section 11.04</u> (*Assignments*).

"*Note*" means, as context requires, a Term Loan Note or a Working Capital Loan Note.

"*Payment Recipient*" has the meaning assigned to it in <u>Section 10.15(a)</u> (*Erroneous Payments*).

"*Periodic Term SOFR Determination Day*" has the meaning provided in the definition of "Term SOFR."

"*QFC*" has the meaning assigned to the term "qualified financial contract" in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).

"*QFC Credit Support*" has the meaning provided in <u>Section 11.24</u> (*Acknowledgment Regarding any Supported QFCs*).

"*Register*" has the meaning provided in <u>Section 2.06(e)</u> (*Funding*).

"*Related Parties*" means, with respect to any specified Person, such Person's Affiliates and the respective shareholders, members, partners, directors, officers, employees, agents, trustees, advisors and representatives of such Person and such Person's Affiliates.

"*Relevant Governmental Body*" means the Federal Reserve Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board or the Federal Reserve Bank of New York, or any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;

------

"*Request for Issuance*" has the meaning provided in <u>Section 3.01(a)</u> (*Letters of Credit*).

"*Required Lenders*" means at any time, the Lenders holding in excess of 50.00% of the sum of (a) the aggregate undisbursed Commitments plus (b) the then aggregate outstanding principal amount of the Loans (excluding in each such case any Lender that is a Defaulting Lender or an Affiliate or Subsidiary thereof or, except as otherwise provided in Section 7.4 (*Sponsor Voting*) of the Common Security and Account Agreement, an Affiliated Lender, and each Commitment and any outstanding principal amount of any Loan of any such Lender). Such percentage shall be calculated by dividing the number of votes cast in favor of a Decision by the total number of votes cast with respect to such Decision.

"*Required Term Lenders*" means at any time, the Term Lenders holding in excess of 50.00% of the sum of (a) the aggregate undisbursed Term Loan Commitments plus (b) the then aggregate outstanding principal amount of the Term Loans (excluding in each such case any Term Lender that is a Defaulting Lender or an Affiliate or Subsidiary thereof or, except as otherwise provided in Section 7.4 (*Sponsor Voting*) of the Common Security and Account Agreement, a Collateral Party, the Sponsor or any of Sponsor's Affiliates, and each Term Loan Commitment and any outstanding principal amount of any Term Loan of any such Term Lender). Such percentage shall be calculated by dividing the number of votes cast in favor of a Decision by the total number of votes cast with respect to such Decision.

"*Required Working Capital Lenders*" means at any time, the Working Capital Lenders holding in excess of 50.00% of the sum of (a) the aggregate undisbursed Working Capital Commitments plus (b) the then-aggregate outstanding principal amount of the Working Capital Loans (excluding in each such case any Working Capital Lender that is a Defaulting Lender or an Affiliate or Subsidiary thereof or, except as otherwise provided in Section 7.4 (Sponsor Voting) of the Common Security and Account Agreement, a Collateral Party, the Sponsor or any of the Sponsor's Affiliates, and each Working Capital Commitment and any outstanding principal amount of any Working Capital Loan of any such Working Capital Lender). Such percentage shall be calculated by dividing the number of votes cast in favor of a Decision by the total number of votes cast with respect to such Decision.

"*Resolution Authority*" means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

"*Senior Managing Agent*" means each of Industrial and Commercial Bank of China Limited, New York Branch, Landesbank Hessen-Thüringen Girozentrale, New York Branch, Regions Bank and Raymond James Bank, in each case, not in its individual capacity but as senior managing agent hereunder.

"*SOFR*" means a rate equal to the secured overnight financing rate as administered by the SOFR Administrator.

"*SOFR Administrator*" means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).

&nbsp;&nbsp;&nbsp;&nbsp;

------

"*SOFR Loan*" means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to clause (c) of the definition of "Base Rate."

"*Supported QFC*" has the meaning provided in <u>Section 11.24</u> (*Acknowledgment Regarding any Supported QFCs*).

"*Syndication Agent*" means ING Capital LLC and Banco Santander, S.A., New York Branch, in each case, not in its individual capacity, but as syndication agent.

"*Term Lenders*" means those Term Lenders identified on <u>Schedule I</u> (*Lenders, Commitments*) and each other Person that acquires the rights and obligations of any such Term Lender in accordance with <u>Section 11.04</u> (*Assignments*) but excluding any Person that has assigned all of its rights and obligations under the Credit Facility Agreement in accordance with <u>Section 11.04</u> (*Assignments*) (other than in connection with the sale of participations) and Participants.

"*Term Loan*" means, with respect to each Term Lender, each advance to the Borrower of such Term Lender's pro rata share of the Term Loan Commitment as the Borrower may request under <u>Section 2.02</u> (*Term Loan Availability*) and the applicable Disbursement Request.

"*Term Loan Advance*" means each Advance of Term Loans by the Term Lenders (or the Credit Facility Agent on their behalf) on any single date to the Borrower in accordance with <u>Section 2.06</u> (*Funding*) and <u>Article VII</u> (*Conditions Precedent*).

"*Term Loan Availability Period*" has the meaning provided in <u>Section 2.02</u> (*Term Loan Availability*).

*"Term Loan Commitment"* means the commitment of a Term Lender to make or otherwise fund a Term Loan pursuant to Section 2.01(a) (*Term Loans*), as set forth opposite the name of such Term Lender in the column entitled "Term Loan Commitment" in <u>Schedule I</u> (*Lenders, Commitments*) or if such Term Lender has entered into one or more Lender Assignment Agreements, set forth opposite the name of such Term Lender and any assignor Term Lender in the Register maintained by the Credit Facility Agent pursuant to Section 2.06(f) (*Funding*), as the same may be reduced in accordance with Section 2.07 (*Termination or Reduction of Commitments*), and "*Term Loan Commitments*" means such commitments of all Term Lenders in the aggregate.

"*Term Loan Commitment Fee*" has the meaning provided in <u>Section 4.15(a)</u> (*Fees*).

"*Term Loan Facility*" has the meaning provided in the recitals.

"*Term Loan Notes*" means the promissory notes of the Borrower, substantially in the form of <u>Exhibit B-1</u> (*Form of Term Loan Note*) evidencing Term Loans, in each case duly executed and delivered by an Authorized Officer of the Borrower in favor of each Term Lender that requests a Term Loan Note, including any promissory notes issued by the Borrower in connection with assignments of any Term Loan of the Term Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;

------

"*Term SOFR*" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;for any calculation with respect to a SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the "*Periodic Term SOFR Determination Day*") that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; *provided* that, if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;for any calculation with respect to a Base Rate Loan on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such day, the "*Base Rate Term SOFR Determination Day*") that is two (2) U.S. Government Securities Business Days prior to such day, as such rate is published by the Term SOFR Administrator; *provided* that, if as of 5:00 p.m. (New York City time) on any Base Rate Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Base Rate Term SOFR Determination Day;

*provided further* that, if Term SOFR determined as provided above (including pursuant to the proviso under clause (a) or clause (b) above) shall ever be less than the Floor, then Term SOFR shall be deemed to be the Floor.

"*Term SOFR Administrator*" means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Credit Facility Agent in its reasonable discretion).

"*Term SOFR Reference Rate*" means the forward-looking term rate based on SOFR.

"*Trade Date*" has the meaning provided in <u>Section 11.04(b)</u> (*Assignments*).

"*Type*" means, when used in reference to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any Loan or Advance, or the Loans constituting such Advance, Term Loans and/or Working Capital Loans (or any Type thereof) as the context requires; and

&nbsp;&nbsp;&nbsp;&nbsp;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any Commitment, a Term Loan Commitment and/or a Working Capital Commitment as the context requires.

"*UCP 600*" has the meaning provided in <u>Section 3.01(g)(iii)</u> (*Letters of Credit*).

"*UK Financial Institution*" means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

"*UK Resolution Authority*" means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

"*Unadjusted Benchmark Replacement*" means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

"*Undisclosed Administration*" means, in relation to a Lender or its direct or indirect parent company, the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian, or other similar official by a supervisory authority or regulator under or based on the law in the country where such Lender or such parent company is subject to home jurisdiction supervision, if applicable law requires that such appointment not be publicly disclosed.

"*U.S. Government Securities Business Day*" means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

"*U.S. Special Resolution Regimes*" has the meaning provided in <u>Section 11.24</u> (*Acknowledgment Regarding any Supported QFCs*).

"*Working Capital Advance*" means each Advance of Working Capital Loans by or on behalf of the Working Capital Lenders on any single date to the Borrower in accordance with <u>Section 2.06</u> (*Funding*) and <u>Article VII</u> (*Conditions Precedent*).

"*Working Capital Commitment*" means, with respect to each Working Capital Lender, the commitment of such Working Capital Lender to (i) make Working Capital Loans and (ii) make LC Loans in respect of Fronted Letters of Credit and Non-Fronted Letters of Credit (subject to such Working Capital Lender's Non-Fronting Limit as set forth opposite the name of such Working Capital Lender in the column entitled "Non-Fronting Limit" on <u>Schedule II</u> (*Issuing Bank Limits*)), in an aggregate amount not to exceed the amount set forth opposite the name of such Working Capital Lender in the column entitled "Total Working Capital Commitment" in <u>Schedule I</u> (*Lenders, Commitments*), or if such Working Capital Lender has entered into one or more Lender Assignment Agreements, such amount as set forth opposite the name of such

&nbsp;&nbsp;&nbsp;&nbsp;

------

Working Capital Lender in the Register maintained by the Credit Facility Agent as such Working Capital Lender's commitment, as the same may be (a) reduced from time to time in accordance with <u>Section 2.07</u> (*Termination or Reduction of Commitments*), (b) increased from time to time in accordance with <u>Section 2.08</u> (*Incremental Commitments*), (c) reduced or increased from time to time pursuant to assignments by or to such Working Capital Lender pursuant to <u>Section 11.04</u> (*Assignments*) and (d) utilized, as of the applicable date of determination, in the amount of such Working Capital Lender's Working Capital Commitment Exposure.

"*Working Capital Commitment Exposure*" means as of any time of determination and with respect to each Working Capital Lender, the sum of (i) the principal amount of its Working Capital Loans outstanding, *plus* (ii) the principal amount of its LC Loans outstanding, *plus* (iii) in the case of each Working Capital Lender that is an Issuing Bank, the aggregate undrawn amount of the outstanding Letters of Credit issued by it (excluding the aggregate amount thereof in respect of which other Working Capital Lenders are required to participate), *plus* (iv) aggregate LC Reimbursement Payments that have not yet converted to LC Loans under the outstanding Letters of Credit issued by it (excluding the aggregate amount thereof in respect of which other Working Capital Lenders are required to participate) *plus* (v) the aggregate amount of such Working Capital Lender's participations in Letters of Credit issued by other Issuing Banks.

"*Working Capital Commitment Fee*" has the meaning provided in <u>Section 4.15(b)</u> (*Fees*).

"*Working Capital Commitment Increase*" has the meaning provided in <u>Section 2.08(a)</u> (*Incremental Commitments*).

"*Working Capital Commitment Increase Notice*" has the meaning provided in <u>Section 2.08(a)</u> (*Incremental Commitments*).

"*Working Capital Facility*" has the meaning provided in the recitals.

"*Working Capital Lender Payment Notice*" has the meaning provided in <u>Section 3.02(c)</u> (*Reimbursement to Issuing Banks*).

"*Working Capital Lenders*" means those Working Capital Lenders identified on <u>Schedule I</u> (*Lenders, Commitments*) and each other Person that acquires the rights and obligations of any such Working Capital Lender in accordance with <u>Section 11.04</u> (*Assignments*) but excluding any Person that has assigned all of its rights and obligations under the Credit Facility Agreement in accordance with <u>Section 11.04</u> (*Assignments*) (other than in connection with the sale of participations) and Participants.

"*Working Capital Loan*" has the meaning provided in <u>Section 2.04(a)</u> (*Working Capital Loan Availability*).

"*Working Capital Loan Availability Period*" has the meaning provided in <u>Section 2.04(a)</u> (*Working Capital Loan Availability*).

&nbsp;&nbsp;&nbsp;&nbsp;

------

"*Working Capital Loan Note*" means the promissory notes of the Borrower, substantially in the form of <u>Exhibit B-2</u> (*Form of Working Capital Note*) evidencing Working Capital Loans, in each case duly executed and delivered by an Authorized Officer of the Borrower in favor of each Working Capital Lender that requests a Working Capital Loan Note, including any promissory notes issued by the Borrower in connection with assignments of any Working Capital Loan of the Working Capital Lenders.

"*Working Capital Loan Termination Date*" has the meaning provided in <u>Section 2.04(a)</u> (*Working Capital Loan Availability*).

"*Write-Down and Conversion Powers*" means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

&nbsp;&nbsp;&nbsp;&nbsp;

------

**EXHIBIT B-1 TO<br>CREDIT FACILITY AGREEMENT<br><u>Form of Term Loan Note<br></u>**<br> [Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

------

**EXHIBIT B-2 TO<br>CREDIT FACILITY AGREEMENT<br><u>Form of Working Capital Loan Note<br></u>**<br> [Omitted]

B-2-1

&nbsp;&nbsp;&nbsp;&nbsp;

------

**EXHIBIT C TO<br>CREDIT FACILITY AGREEMENT<br><u>[Reserved]</u>**

&nbsp;&nbsp;&nbsp;&nbsp;

------

**EXHIBIT D TO<br>CREDIT FACILITY AGREEMENT<br><u>Form Of Interest Period Notice</u>**

[Omitted]**<u><br></u>**

&nbsp;&nbsp;&nbsp;&nbsp;

------

**EXHIBIT E TO<br>CREDIT FACILITY AGREEMENT<br><u>Form of Lender Assignment Agreement</u>**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;E-1

## Exhibit 10.5

**Exhibit 10.5**

*Execution Version*

**Certain identified information has been omitted from this document because (i) it is not material and is the type that the Company customarily and actually treats as private or confidential, and/or (ii) if disclosure would constitute a clearly unwarranted invasion of personal privacy and has been marked with "[\*\*\*]" to indicate where omissions have been made.**

**CHANGE ORDER NO. 04**

**UNDER THE PURCHASE ORDER CONTRACT**

**FOR THE SALE OF LIQUEFACTION TRAIN SYSTEM**

**August 15, 2025** 

Reference is made to the Purchase Order Contract for the Sale of Liquefaction Train System, dated as of August 5, 2022 (as amended, the "<u>Agreement</u>"), by and between Venture Global Plaquemines LNG, LLC, a Delaware limited liability company ("<u>Buyer</u>") and Baker Hughes Energy Services LLC, a Delaware limited liability company ("<u>Seller</u>"). Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement. Except to the extent as may be specifically described in this Change Order, the changes set forth herein do not relieve Seller of any of its responsibilities described in the Agreement.

Once this Change Order is executed by both Parties, and except to the extent set forth herein, this Change Order will constitute a full and final settlement and accord and satisfaction of all effects of the change(s) described herein, and shall be deemed to compensate Seller fully for all such effects.

**CHANGE:**

Buyer and Seller agree to the following changes to the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exhibit B</u> to this Change Order sets forth the calculations of the applicable bonuses earned by Seller upon completion of delivery to Buyer of certain Liquefaction Trains in their entirety on or before the applicable Bonus Dates and Super Bonus Dates and in satisfaction of all conditions for payment set forth in Clause 6.7 (Delivery Bonus) of Appendix A (General Terms and Conditions) to the Agreement, in an aggregate amount of [\*\*\*] Dollars ($[\*\*\*]).

**CONTRACT PRICE:**

---

| | |
|:---|:---|
| The original Contract Price was: | [\*\*\*] |
| The net adjustment to the Contract Price by previously executed Change Orders is: | [\*\*\*] |
| The Contract Price prior to this Change Order was: | [\*\*\*] |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| The Contract Price shall be increased by this Change Order in the amount (the "Change Order Price") of: | [\*\*\*] |
| **The adjusted Contract Price, including this Change Order, shall be:** | [\*\*\*] |

---

---

| | |
|:---|:---|
| The original fixed fee for transportation was: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[\*\*\*] |
| The net adjustment to the fixed fee by previously executed Change Orders is: | [\*\*\*] |
| The fixed fee prior to this Change Order was: | [\*\*\*] |
| The fixed fee shall be increased by this Change Order in the amount of: | [\*\*\*] |
| **The adjusted fixed fee for transportation, including this Change Order, shall be:** | [\*\*\*] |
| The original not to exceed amount for Transportation Costs was: | [\*\*\*] |
| The net adjustment to the not to exceed amount for Transportation Costs by previously executed Change Orders is: | [\*\*\*] |
| The adjusted not to exceed amount for Transportation Costs prior to this change order was: | [\*\*\*] |
| The not to exceed amount for Transportation Costs shall be increased by this Change Order in the amount of: | [\*\*\*] |
| The adjusted not to exceed amount for Transportation Costs, including this Change Order, shall be: | [\*\*\*] |

---

**PAYMENT MILESTONES:**

This Change Order modifies <u>Appendix B</u>. Attached as <u>Exhibit A</u> to this Change Order is a revised version of <u>Appendix B</u> (Pricing; Payment Terms & Cancellation Schedule), which supersedes and replaces the existing <u>Appendix B</u> (Pricing; Payment Terms & Cancellation Schedule) in its entirety.

**PROJECT SCHEDULE:**

This Change Order has no impact on the Project Schedule or the Milestone Dates.

**TERMS AND CONDITIONS:**

Buyer and Seller further agree to the following changes to the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.&nbsp;&nbsp;&nbsp;&nbsp;Clause 6.4(c) of Appendix A to the Agreement is hereby amended by (i) deleting the reference therein to "[\*\*\*] Dollars ($[\*\*\*])" in its entirety and inserting "[\*\*\*] Dollars ($[\*\*\*])" in its place, and (ii) deleting the reference therein to

&nbsp;&nbsp;&nbsp;&nbsp;

------

"[\*\*\*] Dollars ($[\*\*\*])" in its entirety and inserting "[\*\*\*] Dollars ($[\*\*\*])" in its place.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.&nbsp;&nbsp;&nbsp;&nbsp;Clause 25.3(a)(i) of Appendix A to the Agreement is hereby amended by deleting the reference therein to "[\*\*\*] Dollars ($[\*\*\*])" in its entirety and inserting "[\*\*\*] Dollars ($[\*\*\*])" in its place.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.&nbsp;&nbsp;&nbsp;&nbsp;Clause 25.3(a)(ii) of Appendix A to the Agreement is hereby amended by deleting the reference therein to "[\*\*\*] Dollars ($[\*\*\*])" in its entirety and inserting "[\*\*\*] Dollars ($[\*\*\*])" in its place.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.&nbsp;&nbsp;&nbsp;&nbsp;Clause 25.3(b)(i) of Appendix A to the Agreement is hereby amended by (i) deleting the reference therein to "[\*\*\*] Dollars ($[\*\*\*])" in its entirety and inserting "[\*\*\*] Dollars ($[\*\*\*])" in its place, and (ii) deleting the reference therein to "[\*\*\*] Dollars ($[\*\*\*])" in its entirety and inserting "[\*\*\*] Dollars ($[\*\*\*])" in its place.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.&nbsp;&nbsp;&nbsp;&nbsp;Clause 25.3(b)(ii) of Appendix A to the Agreement is hereby amended by deleting the reference therein to "[\*\*\*] Dollars ($[\*\*\*])" in its entirety and inserting "[\*\*\*] Dollars ($[\*\*\*])" in its place.

***Seller waives any and all rights to claim any payment or any relief for time for the performance of its obligations for the performance of the scope of the changes that are set forth under this Change Order. This Change Order constitutes compensation in full for Seller for all costs and expenses directly or indirectly attributable to the changes set forth herein, for all delays related thereto, and for performance of the changes within the time stated. Notwithstanding, such adjusted Contract Price does not include any Buyer Taxes which will be added to such Contract Price in accordance with and subject to the terms of the Agreement.***

All other terms and conditions of the Agreement remain in effect unless specifically modified herein.

[*Signature Page Follows.*]

&nbsp;&nbsp;&nbsp;&nbsp;

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Agreed pursuant to the Agreement by:

**Baker Hughes Energy Services LLC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture Global Plaquemines LNG, LLC**

By: <u>/s/ Edoardo Padeletti&nbsp;&nbsp;&nbsp;&nbsp;</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: <u>/s/ Keith Larson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: Edoardo Padeletti&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Keith Larson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Title: VP Commercial & Strategy&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: General Counsel and Secretary&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Exhibit A**

**<u>APPENDIX B</u>**

**<u>PRICING, PAYMENT TERMS & CANCELLATION SCHEDULE</u>**

[*See attached*.]

&nbsp;&nbsp;&nbsp;&nbsp;

------

**<u>APPENDIX B</u>**

**<u>PRICING, PAYMENT TERMS & CANCELLATION SCHEDULE</u>**

Seller shall not issue more than one (1) invoice (or, following the assignment of the Agreement to the EPC Contractor, two (2) invoices) in any calendar month during the term of the Agreement.

Seller shall not be entitled to invoice for a Payment Milestone until such Payment Milestone has been completed, such invoice shall include reasonable documentation of such completion of the Payment Milestone, including the documentation identified in the Payment Milestone Notes below and as may be further defined between Buyer and Seller during the kickoff meeting. Invoices shall include an affidavit setting forth the amounts paid by Seller to any "Major Subcontractors" under the Agreement in a form reasonably acceptable to Buyer and the Lenders.

In addition to the amounts shown in the Payment Milestone in Section I.B., below, Seller shall be permitted to invoice Buyer for the fixed fee of [\*\*\*] Dollars ($[\*\*\*]) as provided in Clause 7.1 of Appendix A of the Agreement in equal monthly installments in the amount of [\*\*\*] Dollars ($[\*\*\*]) during the first [\*\*\*] of the Payment Schedule following the issuance of FNTP.

The Transportation Costs as defined in <u>Clause 7.1</u> of Appendix A shall not be included in the Aggregate Payment Milestone Cap. Concurrently with the monthly invoice described in the first paragraph of this Appendix B, Seller may submit to Buyer a dedicated monthly invoice for the Transportation Fixed Fee and the Transportation Costs.

Transportation Costs shall be documented by Seller providing to Buyer unredacted copies of purchase orders and other available documentation. Copies of invoices shall be provided as part of the monthly invoice for individual purchase orders or Transportation Costs with a value in excess of $[\*\*\*]. In all other cases, Facility-specific ERP system reports in Excel format will be submitted with the applicable monthly invoice. Transportation Costs shall be certified by the Project Director as part of the applicable monthly invoice.

Concurrently with the monthly invoice described in the first paragraph of this Appendix B, Seller may submit to Buyer a dedicated monthly invoice with respect to any Plaquemines Parish sales and use taxes that constitute Buyer Taxes. Any such Plaquemines Parish sales and use taxes shall be documented by Seller providing the list, value, and delivery date of the delivered equipment.

Concurrently with the monthly invoice described in the first paragraph of this Appendix B, Seller may submit to Buyer a dedicated monthly invoice with respect to the Spare Parts. Spare Parts shall be documented by the Seller providing the list of the delivered spare parts and/or other available documentation to the Seller.

Buyer shall have the right to audit all documentation pertaining to Transportation Costs and taxes on reasonable prior notice to Seller and during normal business hours in order to confirm the accuracy and completeness thereof.

&nbsp;&nbsp;&nbsp;&nbsp;

------

I.&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment Milestones</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp; Payment Milestones after Buyer's issuance of LNTP shall be as indicated in the table below.

---

| | | | |
|:---|:---|:---|:---|
| Type | Milestone<br>N° | Payment Milestone Description | Amount<br>(USD) |
| [\*\*\*] | **1** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **1L** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **2** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **3** | [\*\*\*] | [\*\*\*] |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;Payment Milestones after Buyer's issuance of FNTP shall be as indicated in the table below. The "Fixed" Payment Milestones (as indicated below) are one-time events. The "By Train" Payment Milestones (as indicated below) shall occur for each Liquefaction Train.

---

| | | | |
|:---|:---|:---|:---|
| Type | Milestone<br>N° | Milestone Description | Amount<br>(USD) |
| [\*\*\*] | **1** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **1L** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **2** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **3** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **4** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **5** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **6** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **7** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **8** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **9** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **10** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **11** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **12** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **13** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **14** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **15** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **16** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **17** | [\*\*\*] | [\*\*\*] |
| [\*\*\*] | **18** | [\*\*\*] | [\*\*\*] |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| [\*\*\*] | **19** | [\*\*\*] |
| [\*\*\*] | **20** | [\*\*\*] |
| [\*\*\*] | **21** | [\*\*\*] |
| [\*\*\*] | **22** | [\*\*\*] |
| [\*\*\*] | **23** | [\*\*\*] |
| [\*\*\*] | **24** | [\*\*\*] |
| [\*\*\*] | **25** | [\*\*\*] |
| [\*\*\*] | **26** | [\*\*\*] |
| [\*\*\*] | **27** | [\*\*\*] |
| [\*\*\*] | **28** | [\*\*\*] |
| [\*\*\*] | **29** | [\*\*\*] |
| [\*\*\*] | **30** | [\*\*\*] |
| [\*\*\*] | **31** | [\*\*\*] |
| [\*\*\*] | **32** | [\*\*\*] |
| [\*\*\*] | **33** | [\*\*\*] |
| [\*\*\*] | **34** | [\*\*\*] |
| [\*\*\*] | **35** | [\*\*\*] |

---

---

| | |
|:---|:---|
| <br> **Payment Milestone Notes** | <br> **Payment Milestone Notes** |
| **1** | [\*\*\*] |
| **2** | [\*\*\*] |
| **3** | [\*\*\*] |
| **4** | [\*\*\*] |
| **5** | [\*\*\*] |
| **6** | [\*\*\*] |
| **7** | [\*\*\*] |
| **8** | [\*\*\*] |
| **9** | [\*\*\*] |
| **10** | [\*\*\*] |
| **11** | [\*\*\*] |
| **12** | [\*\*\*] |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

II.&nbsp;&nbsp;&nbsp;&nbsp;<u>Aggregate Payment Milestone Cap</u>:

The aggregate amount of all Payment Milestones invoiced by Seller as of each month, including all invoices submitted to Buyer in prior months, shall not exceed the amount of the Aggregate Payment Milestone Cap shown in tables below for such month. For the avoidance of doubt, the Aggregate Payment Milestone Cap shall be inclusive of the LNTP Advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp; [\*\*\*]

---

| | |
|:---|:---|
| **Month after Issuance of LNTP** | **Aggregate Payment Milestone Cap (by month)** |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |

---

B.&nbsp;&nbsp;&nbsp;&nbsp;[\*\*\*]

---

| | |
|:---|:---|
| **Month after Issuance of LNTP or FNTP, as applicable** | **Aggregate Payment Milestone Cap (by month) after CO#4** |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

III.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination Fee</u>:

In the event of termination for convenience by Buyer pursuant to Clause 29.1 of Appendix A or a termination by Buyer or Seller, as applicable, if there is no mutual agreement on extending the time for issuance of FNTP pursuant to Clause 6.6 of Appendix A, then the Termination Fee, if any, payable by Buyer shall be determined as follows:

[\*\*\*]

where:

[\*\*\*]

---

| | |
|:---|:---|
| **Months after issuance of LNTP or issuance of a Suspension Notice, as Applicable** | **Maximum Termination Fee** |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |

---

4.*&nbsp;&nbsp;&nbsp;&nbsp;*If LNTP is issued and FNTP is subsequently issued prior to the termination of the Agreement, the Maximum Termination Fee shall be as follows; provided, however, that if (a) no LNTP is issued but the FNTP is issued or (b) FNTP is issued less than [\*\*\*] after the issuance of LNTP, in either case, the Maximum Termination Fee set forth in the first [\*\*\*] in the table below shall be increased by [\*\*\*].

---

| | |
|:---|:---|
| **Months after issuance of LNTP or FNTP or issuance of a Suspension Notice, as applicable** | **Maximum Termination Fee**<br>**(After CO#4)** |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | |
|:---|:---|
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |
| [\*\*\*] | [\*\*\*] |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Exhibit B**

**<u>EARNED DELIVERY BONUS CALCULATIONS</u>**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 10.6

**Exhibit 10.6**

**Certain identified information has been omitted from this document because (i) it is not material and is the type that the Company customarily and actually treats as private or confidential, and/or (ii) if disclosure would constitute a clearly unwarranted invasion of personal privacy and has been marked with "[\*\*\*]" to indicate where omissions have been made.**

**AMENDMENT NO. 1 TO**

**THIRD AMENDED AND RESTATED** 

**ENGINEERING, PROCUREMENT AND CONSTRUCTION AGREEMENT**

**THIS AMENDMENT NO. 1 TO THIRD AMENDED AND RESTATED ENGINEERING, PROCUREMENT AND CONSTRUCTION AGREEMENT** (this "***Amendment***") is entered into as of August 29, 2025 (the "***Amendment Execution Date***") by and between VENTURE GLOBAL PLAQUEMINES LNG, LLC, a Delaware limited liability company ("***Owner***"), and KZJV LLC, a Texas limited liability company ("***Contractor***").

**W I T N E S S E T H:**

WHEREAS, Owner and Contractor are parties to that certain Third Amended and Restated Engineering, Procurement and Construction Agreement, dated as of April 7, 2025, relating to Phase 1 of the LNG Export and Liquefaction Facility (the "***Agreement***"); and

WHEREAS, pursuant to Section 41.8 of the Agreement, the Parties desire to amend the Agreement as set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants and provisions herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound, hereby covenant and agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. Capitalized terms not defined in this Amendment shall have the meaning given to such terms in the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments</u>. Effective as of May 1, 2025, the Agreement is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Article 1 of the Agreement is hereby amended to delete the defined term "***Contractor's G&A***" in its entirety and insert the following new defined term in its place:

""***Contractor's G&A***" means, in respect of each month that Contractor is eligible for reimbursement of Direct Costs or is managing Agent For Contractor Work, Contractor's general and administrative expenses for such month, which shall be a fixed percentage and calculated as the sum of (i) [\*\*\*] percent ([\*\*\*]%) of the sum of the amounts for Work performed on or after May 1, 2025 and [\*\*\*]

#101120554v2&nbsp;&nbsp;&nbsp;&nbsp;

------

percent ([\*\*\*]%) of the sum of the amounts for Work performed prior to May 1, 2025 relating to third-party subcontracts, procurement of Materials, and Agent For Contracts Costs that are reimbursable to Contractor (in each case, other than Tax Costs); (ii) [\*\*\*] percent ([\*\*\*]%) of the sum of all other Direct Costs (other than Tax Costs) that are reimbursable to Contractor; and (iii) [\*\*\*] percent ([\*\*\*]%) of the sum of the amount of Tax Costs that are reimbursable to Contractor in respect of such month, all as specifically defined in <u>Exhibit B</u>."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Section 9.2.2 of the Agreement is hereby deleted in its entirety and the following new Section 9.2.2 shall be inserted in its place:

"9.2.2 The Performance Bond shall initially have a face amount of [\*\*\*] Dollars ($[\*\*\*]). The face amount of the Performance Bond shall be reduced sequentially as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;On September 1, 2025, the face amount of the Performance Bond shall be reduced to an amount equal to [\*\*\*] Dollars ($[\*\*\*]);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;On March 1, 2026, the face amount of the Performance Bond shall be reduced to an amount equal to [\*\*\*] Dollars ($[\*\*\*]); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Upon Facility Substantial Completion, the face amount of the Performance Bond shall be reduced to an amount equal to [\*\*\*] Dollars ($[\*\*\*]). The Performance Bond will be held by Owner until the expiration of the Warranty Period."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Section 9.2.3 of the Agreement is hereby deleted in its entirety and the following new Section 9.2.3 shall be inserted in its place:

"9.2.3&nbsp;&nbsp;&nbsp;&nbsp;The Payment Bond shall constitute security for the payments made by Owner to Contractor on or after the Notice to Proceed Date. The Payment Bond shall have a face amount equal to [\*\*\*] Dollars ($[\*\*\*]). On September 1, 2025, the face amount of the Payment Bond shall be decreased to be equal to [\*\*\*] Dollars ($[\*\*\*]). On March 1, 2026, the face amount of the Payment Bond shall be decreased to be equal to [\*\*\*] Dollars ($[\*\*\*]). The Payment Bond will be held by Owner until the Facility Substantial Completion Date."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Section 36.1 of the Agreement is hereby amended by inserting the following new Section 36.1.5 immediately following Section 36.1.4:

"36.1.5 Notwithstanding the foregoing, the Parties agree to engage in the development and implementation of an expedited process to resolve certain disputed cost amounts submitted by Contractor for reimbursement with reasonable backup within a reasonable time period not to exceed one hundred eighty (180) days. The specific disputed cost amounts subject to this expedited resolution process shall be limited to those relating to Work performed prior to

#101120554v2&nbsp;&nbsp;&nbsp;&nbsp;

------

May 1, 2025, and identified by Contractor to Owner not later than September 29, 2025. Owner shall have no obligation to consider any cost or expense not identified by Contractor to Owner pursuant to this <u>Section 36.1.5</u> as part of the expedited dispute resolution process as set forth in this <u>Section 36.1.5;</u> provided, however, that nothing in this <u>Section 36.1.5</u> shall operate to waive any right of Contractor for reimbursement of any identified or non-identified cost or expense."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;<u>Exhibit C</u> to the Agreement is hereby deleted in its entirety and a new <u>Exhibit C</u> in the form attached as Attachment A to this Amendment shall be inserted in its place. The new <u>Exhibit C</u> shall be applied retroactively to May 1, 2025. For the avoidance of doubt, Contractor shall issue a credit to Owner with respect to any Requests for Payment for Work performed on or after May 1, 2025 that do not reflect the Contractor rates set forth in the new <u>Exhibit C</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Benefits</u>. This Amendment shall inure to the benefit of and be binding upon the Parties and their respective successors and permitted assigns. Except with respect to the rights of successors and permitted assigns as provided in the Agreement, including any Person who purchases, leases or takes a security interest in an undivided interest in the Facility (including the Lenders), nothing express or implied in this Amendment is intended to confer upon any person, other than the Parties and their respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Amendment</u>. Except as specifically set forth herein, the Agreement, as amended by this Amendment, remains in full force and effect in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. This Amendment shall in all respects be governed by, and construed in accordance with the laws of the State of New York without regard to principles of conflicts of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Amendment may be executed in counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. A signed copy of this Amendment transmitted by electronic mail shall be treated as an original and shall be binding against the Party whose signature appears on such copy.

***[signatures appear on following page]***

#101120554v2&nbsp;&nbsp;&nbsp;&nbsp;

------

**IN WITNESS WHEREOF,** the Parties have caused this Amendment to be executed by their duly authorized representatives on the Amendment Execution Date.

**VENTURE GLOBAL PLAQUEMINES LNG, LLC**

By: <u>/s/Keith Larson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name:&nbsp;&nbsp;&nbsp;&nbsp;Keith Larson

Title:&nbsp;&nbsp;&nbsp;&nbsp;Secretary

**KZJV LLC**

By: <u>/s/Paul Fellows&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name:&nbsp;&nbsp;&nbsp;&nbsp;Paul Fellows

Title:&nbsp;&nbsp;&nbsp;&nbsp;Manager

By: <u>/s/Bruce Beall&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name:&nbsp;&nbsp;&nbsp;&nbsp;Bruce Beall

Title:&nbsp;&nbsp;&nbsp;&nbsp;Manager

#101120554v2&nbsp;&nbsp;&nbsp;&nbsp;

------

<u>Attachment A</u>

<u>Exhibit C Rates</u>

[Omitted]

#101120554v2&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 10.7

**Exhibit 10.7**

***Execution Version***

**CREDIT AGREEMENT**

Dated as of

September 29, 2025

among

BLACKFIN PIPELINE, LLC<br>as the Borrower,

BLACKFIN PIPELINE PLEDGOR, LLC<br>as the Parent,

BLACKFIN SUPPLY, LLC,<br>as the Permitted Subsidiary,

MUFG BANK, LTD.,<br>as Administrative Agent,

SUMITOMO MITSUI BANKING CORPORATION,

as Collateral Agent,

and

THE LENDERS PARTY HERETO FROM TIME TO TIME

___________________________________

MUFG BANK, LTD.,

JPMORGAN CHASE BANK, N.A.,

MIZUHO BANK, LTD.,

and

SUMITOMO MITSUI BANKING CORPORATION,

as Lead Arrangers and Joint Bookrunners

------

**<u>**TABLE OF CONTENTS**</u>**

**Page**

---

| | |
|:---|:---|
| **[ARTICLE I <br>DEFINITIONS AND ACCOUNTING TERMS](#i5104e2c9e57f4a2c915f025ce7589268)** | **[1](#i5104e2c9e57f4a2c915f025ce7589268)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms](#ic94dce48913444d2a2b8d3a32330a141) | [1](#ic94dce48913444d2a2b8d3a32330a141) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.02&nbsp;&nbsp;&nbsp;&nbsp;Other Interpretive Provisions](#i44a1c664c25e42c98700dbcf768da0c4) | [62](#i44a1c664c25e42c98700dbcf768da0c4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.03&nbsp;&nbsp;&nbsp;&nbsp;Accounting Terms](#if870ca8a5f6d475ab45f1e06bd5c7183) | [62](#if870ca8a5f6d475ab45f1e06bd5c7183) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.04&nbsp;&nbsp;&nbsp;&nbsp;Rounding](#i158d7f0903f04524999d07ceb430c686) | [63](#i158d7f0903f04524999d07ceb430c686) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.05&nbsp;&nbsp;&nbsp;&nbsp;References to Agreements, Laws, Etc.](#i0aace7e0bf4d4c6da8876c64dd2fa75e) | [63](#i0aace7e0bf4d4c6da8876c64dd2fa75e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.06&nbsp;&nbsp;&nbsp;&nbsp; Times of Day](#i5eda6af8c0ad4e6d99ce86c8d0793c7c) | [63](#i5eda6af8c0ad4e6d99ce86c8d0793c7c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.07&nbsp;&nbsp;&nbsp;&nbsp;Timing of Payment or Performance](#iec25d321032848de8445152fc97a1fff) | [63](#iec25d321032848de8445152fc97a1fff) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.08&nbsp;&nbsp;&nbsp;&nbsp;Negative Covenant Compliance](#i3931589bc61045828ea0f4a9fe092ee7) | [63](#i3931589bc61045828ea0f4a9fe092ee7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.09&nbsp;&nbsp;&nbsp;&nbsp;Rates.](#i83c1606278574adb9d4ed7575d163025) | [64](#i83c1606278574adb9d4ed7575d163025) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.10&nbsp;&nbsp;&nbsp;&nbsp;Divisions](#i7fe50f379918478e86e1eeb4d0311a65) | [64](#i7fe50f379918478e86e1eeb4d0311a65) |
| **[ARTICLE II <br>THE COMMITMENTS AND BORROWINGS](#id2f093fd7fcb4d258b49d36887ae1500)** | **[64](#id2f093fd7fcb4d258b49d36887ae1500)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;The Commitments and Borrowings](#ida5126d6ecce4d77b985997ad22f7ada) | [64](#ida5126d6ecce4d77b985997ad22f7ada) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;Borrowings, Conversions and Continuations of Loans](#i66516b3bfabb4f4489acafb2b6bb1f6d) | [65](#i66516b3bfabb4f4489acafb2b6bb1f6d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;Prepayments](#i04f78d8d20dd4eaa88783f3b5cf7f5c7) | [66](#i04f78d8d20dd4eaa88783f3b5cf7f5c7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;Termination or Reduction of Commitments](#i343da06dbfd34efc9c461559f4451085) | [71](#i343da06dbfd34efc9c461559f4451085) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.05&nbsp;&nbsp;&nbsp;&nbsp;Repayment of Loans](#i30980c3d51ec46f5867ddba81b95d257) | [72](#i30980c3d51ec46f5867ddba81b95d257) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.06&nbsp;&nbsp;&nbsp;&nbsp;Interest](#i3e2a5fc4d9c441deacbe31f565d55308) | [72](#i3e2a5fc4d9c441deacbe31f565d55308) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.07&nbsp;&nbsp;&nbsp;&nbsp;Fees](#i55a152aff95c4efb8d10b44c079711d3) | [73](#i55a152aff95c4efb8d10b44c079711d3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.08&nbsp;&nbsp;&nbsp;&nbsp;Computation of Interest and Fees](#ib7f0284ba8664ea7826dbe1c99634206) | [74](#ib7f0284ba8664ea7826dbe1c99634206) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.09&nbsp;&nbsp;&nbsp;&nbsp;Evidence of Indebtedness](#iabe6d018470e4bf0b3404c5d1fea81ec) | [74](#iabe6d018470e4bf0b3404c5d1fea81ec) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.10&nbsp;&nbsp;&nbsp;&nbsp;Payments Generally](#i29b2ef61151b4a259ea9e6fdcd279b34) | [74](#i29b2ef61151b4a259ea9e6fdcd279b34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.11&nbsp;&nbsp;&nbsp;&nbsp;Sharing of Payments](#i50109166093f48fa964d8b8cb0c395ae) | [76](#i50109166093f48fa964d8b8cb0c395ae) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.12&nbsp;&nbsp;&nbsp;&nbsp;Incremental Borrowings](#ic04d215d87204e9c97013533895e06c9) | [77](#ic04d215d87204e9c97013533895e06c9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.13&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\].](#i91d62e7c849c4119bcdf6d21c75085fe) | [82](#i91d62e7c849c4119bcdf6d21c75085fe) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.14&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\]](#i727edb6b5825415abeff87c46bb73a93) | [82](#i727edb6b5825415abeff87c46bb73a93) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.15&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\]](#ib1dfceb9a6964945bd0abf63de60972a) | [82](#ib1dfceb9a6964945bd0abf63de60972a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.16&nbsp;&nbsp;&nbsp;&nbsp;Defaulting Lenders](#id60afb81a10b4ca9970573ca5861fc72) | [82](#id60afb81a10b4ca9970573ca5861fc72) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.17&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\]](#i628b9094cd214e7880463330a386c559) | [83](#i628b9094cd214e7880463330a386c559) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.18&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\]](#i0a3f60cb1fb9481e9090a57f8db630b8) | [83](#i0a3f60cb1fb9481e9090a57f8db630b8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.19&nbsp;&nbsp;&nbsp;&nbsp;Letters of Credit.](#i3dd4a4e9981d4193a7dfc08806ff24c7) | [83](#i3dd4a4e9981d4193a7dfc08806ff24c7) |
| **[ARTICLE III <br>TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY](#ice5df9ae8e2d4668b448d59bc9378735)** | **[93](#ice5df9ae8e2d4668b448d59bc9378735)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;Taxes](#i853c993add324930b8e0e4f160a4a4f1) | [93](#i853c993add324930b8e0e4f160a4a4f1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;Illegality](#iab041d0b6e3440238a06862375a8fd23) | [96](#iab041d0b6e3440238a06862375a8fd23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.03&nbsp;&nbsp;&nbsp;&nbsp;Benchmark Replacement Setting.](#i9020fc3f3ac74c7cb5c3ec928894f309) | [97](#i9020fc3f3ac74c7cb5c3ec928894f309) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.04&nbsp;&nbsp;&nbsp;&nbsp;Increased Cost and Reduced Return; Capital Adequacy; Reserves on Term SOFR Loans](#i71cb004b98da40cc9fcbdd6b310f246c) | [98](#i71cb004b98da40cc9fcbdd6b310f246c) |

---

i

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.05&nbsp;&nbsp;&nbsp;&nbsp;Funding Losses](#i2bc83af5154d4b99b21e99aa31c6ed65) | [100](#i2bc83af5154d4b99b21e99aa31c6ed65) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.06&nbsp;&nbsp;&nbsp;&nbsp;Matters Applicable to All Requests for Compensation](#i78d171faf2484ba09bef446cc80190f1) | [100](#i78d171faf2484ba09bef446cc80190f1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.07&nbsp;&nbsp;&nbsp;&nbsp;Replacement of Lenders under Certain Circumstances](#i2e8f17a712144fc08263478cd8833f0e) | [101](#i2e8f17a712144fc08263478cd8833f0e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.08&nbsp;&nbsp;&nbsp;&nbsp;Survival](#i90ffdb5446ff4f48b120fdad1bd3a7be) | [102](#i90ffdb5446ff4f48b120fdad1bd3a7be) |
| **[ARTICLE IV <br>CONDITIONS PRECEDENT TO BORROWINGS](#ic8fcb0d1df4b4a57902750c104812b07)** | **[102](#ic8fcb0d1df4b4a57902750c104812b07)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Closing and Initial Borrowing](#icb06345a713c4241ad6b87171af3c602) | [102](#icb06345a713c4241ad6b87171af3c602) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.02&nbsp;&nbsp;&nbsp;&nbsp;Conditions to All Credit Extensions after the Closing Date](#i7052abe6c1a74265afb99ae6f7eeed9f) | [106](#i7052abe6c1a74265afb99ae6f7eeed9f) |
| **[ARTICLE V <br>REPRESENTATIONS AND WARRANTIES](#i97afa1db053446faa73b53e559521502)** | **[107](#i97afa1db053446faa73b53e559521502)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;Existence, Qualification and Power; Compliance with Laws](#i5b02e9114cf4451ebb35dc6e0a216a85) | [107](#i5b02e9114cf4451ebb35dc6e0a216a85) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;Authorization; No Contravention](#i010266bf1dde49eeb3311e4218f51a8f) | [107](#i010266bf1dde49eeb3311e4218f51a8f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;Governmental Authorization](#id38b1ee46e214fe2b3bce8e5e3f8e1d0) | [108](#id38b1ee46e214fe2b3bce8e5e3f8e1d0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;Binding Effect](#ia59dc0dcc487495f8b5f93183590c723) | [108](#ia59dc0dcc487495f8b5f93183590c723) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.05&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements; No Material Adverse Effect](#ica6d155ebd6943cc925512ccef23f630) | [108](#ica6d155ebd6943cc925512ccef23f630) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.06&nbsp;&nbsp;&nbsp;&nbsp;Litigation](#id086a3adb2444ba8acabbeff25345daf) | [108](#id086a3adb2444ba8acabbeff25345daf) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.07&nbsp;&nbsp;&nbsp;&nbsp;Environmental Matters](#ia82c24844835438398ba2f3790bb2013) | [109](#ia82c24844835438398ba2f3790bb2013) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.08&nbsp;&nbsp;&nbsp;&nbsp;Taxes](#icfb56f19dc9d412d8a10ddcd2701b336) | [109](#icfb56f19dc9d412d8a10ddcd2701b336) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.09&nbsp;&nbsp;&nbsp;&nbsp;ERISA Compliance](#i8150a1a213844dfdb4eb871ddc24a633) | [109](#i8150a1a213844dfdb4eb871ddc24a633) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.10&nbsp;&nbsp;&nbsp;&nbsp;Subsidiaries](#i8f7fcc741071477b92c7dbe0da25e526) | [110](#i8f7fcc741071477b92c7dbe0da25e526) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.11&nbsp;&nbsp;&nbsp;&nbsp;Margin Regulations; Investment Company Act](#i7c0670ce018c42bd89000e99565ae15b) | [110](#i7c0670ce018c42bd89000e99565ae15b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.12&nbsp;&nbsp;&nbsp;&nbsp;Disclosure](#icfca2055120244ed81615714e003a443) | [110](#icfca2055120244ed81615714e003a443) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.13&nbsp;&nbsp;&nbsp;&nbsp;Solvency](#ife657b64fa934f2ca14d0d6e7a3a2288) | [111](#ife657b64fa934f2ca14d0d6e7a3a2288) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.14&nbsp;&nbsp;&nbsp;&nbsp;Sanctions; Anti-Corruption Laws; and Anti-Money Laundering Laws](#i8bccfbe6961244a190bfbad4c96045b8) | [111](#i8bccfbe6961244a190bfbad4c96045b8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.15&nbsp;&nbsp;&nbsp;&nbsp;Security Documents](#ie3f9b9165bb74cc58a8c13b711643072) | [111](#ie3f9b9165bb74cc58a8c13b711643072) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.16&nbsp;&nbsp;&nbsp;&nbsp;No Default](#i0fa97a0e01604706a1eda97e04529897) | [111](#i0fa97a0e01604706a1eda97e04529897) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.17&nbsp;&nbsp;&nbsp;&nbsp;Title to Properties](#i81a6a4e451d7437794387e50098ad759) | [111](#i81a6a4e451d7437794387e50098ad759) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.18&nbsp;&nbsp;&nbsp;&nbsp;Material Project Documents](#i4c583371db38479ba651d58a7895e7e3) | [112](#i4c583371db38479ba651d58a7895e7e3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.19&nbsp;&nbsp;&nbsp;&nbsp;Pari Passu](#ibe423021d8484dfda5b21e5eb5e05404) | [112](#ibe423021d8484dfda5b21e5eb5e05404) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.20&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds](#i2220e66ee01a465f8b829248a34d2aaf) | [112](#i2220e66ee01a465f8b829248a34d2aaf) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.21&nbsp;&nbsp;&nbsp;&nbsp;Licenses, Permits, Etc.](#ie280ba986e2e41359947dc4072239cba) | [112](#ie280ba986e2e41359947dc4072239cba) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.22&nbsp;&nbsp;&nbsp;&nbsp;Real Property](#ie911cde2599d4d9292dbacd304aface6) | [113](#ie911cde2599d4d9292dbacd304aface6) |
| **[ARTICLE VI <br>AFFIRMATIVE COVENANTS](#i0984779aca894015bcbae85d56840a4f)** | **[113](#i0984779aca894015bcbae85d56840a4f)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements](#iae42caee941e4238a90b468deeb1dbd3) | [113](#iae42caee941e4238a90b468deeb1dbd3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.02&nbsp;&nbsp;&nbsp;&nbsp;Certificates; Other Information](#ie634870878524cd1a7bd3f7ac23739c2) | [115](#ie634870878524cd1a7bd3f7ac23739c2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.03&nbsp;&nbsp;&nbsp;&nbsp;Notices](#ia1a71dbd464e4dcc9c35884522d0ca72) | [116](#ia1a71dbd464e4dcc9c35884522d0ca72) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.04&nbsp;&nbsp;&nbsp;&nbsp;Payment of Tax Obligations](#iced3fc82f9bc44a38101c0ef62c7fad7) | [117](#iced3fc82f9bc44a38101c0ef62c7fad7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.05&nbsp;&nbsp;&nbsp;&nbsp;Preservation of Existence, Etc.](#i36c4585a7ee14a13afcf307721e69e81) | [117](#i36c4585a7ee14a13afcf307721e69e81) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.06&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Properties](#ic35e254b4ef04811abc60873b14ead75) | [117](#ic35e254b4ef04811abc60873b14ead75) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.07&nbsp;&nbsp;&nbsp;&nbsp;Bank Accounts](#i573ed44eb8984b81b74a52dcf1fc9c9e) | [117](#i573ed44eb8984b81b74a52dcf1fc9c9e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.08&nbsp;&nbsp;&nbsp;&nbsp;Books and Records](#ie5c8ba7275cc428f80b137fb45e1aac5) | [118](#ie5c8ba7275cc428f80b137fb45e1aac5) |

---

ii

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.09&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws](#ib5234b94c5bc415d91001ba67d1d4e23) | [118](#ib5234b94c5bc415d91001ba67d1d4e23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.10&nbsp;&nbsp;&nbsp;&nbsp;Inspection Rights](#i974300218758475f91b40d4829d588f9) | [118](#i974300218758475f91b40d4829d588f9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.11&nbsp;&nbsp;&nbsp;&nbsp;Additional Collateral](#i4ad868b84b834771a6b3e9b574059e71) | [118](#i4ad868b84b834771a6b3e9b574059e71) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.12&nbsp;&nbsp;&nbsp;&nbsp;Further Assurances](#i4741e6b3fc9d4055a6ab85d7b636c86c) | [120](#i4741e6b3fc9d4055a6ab85d7b636c86c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.13&nbsp;&nbsp;&nbsp;&nbsp;Equator Principles](#i85518fffb4824df8bbcfd15e70c7ea80) | [120](#i85518fffb4824df8bbcfd15e70c7ea80) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.14&nbsp;&nbsp;&nbsp;&nbsp;Accounting Changes](#id6c757045d2a43149fa8f99a10fba36a) | [120](#id6c757045d2a43149fa8f99a10fba36a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.15&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds](#ia9ed76b1cd6a463a881feec9bcf35f8c) | [120](#ia9ed76b1cd6a463a881feec9bcf35f8c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.16&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing Deliveries](#i987291a2e10248d9ba45c548d54f34ab) | [120](#i987291a2e10248d9ba45c548d54f34ab) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.17&nbsp;&nbsp;&nbsp;&nbsp;Lender Calls](#iad0dd659f8ec48a4a94d89bdb53e39a8) | [120](#iad0dd659f8ec48a4a94d89bdb53e39a8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.18&nbsp;&nbsp;&nbsp;&nbsp;Change in Nature of Business](#iffb138f4a44344fd9e66643a28bf3e84) | [121](#iffb138f4a44344fd9e66643a28bf3e84) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.19&nbsp;&nbsp;&nbsp;&nbsp;Separateness.](#i4bf4cdeaaf9543de9d2e4c434c2a0e71) | [121](#i4bf4cdeaaf9543de9d2e4c434c2a0e71) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.20&nbsp;&nbsp;&nbsp;&nbsp;Permits](#if9b74961dd1245c69eebb7d25c9413ec) | [121](#if9b74961dd1245c69eebb7d25c9413ec) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.21&nbsp;&nbsp;&nbsp;&nbsp;Sanctions; Anti-Corruption Laws; and Anti-Money Laundering Laws](#ice2e082d9c3e4edc97003dca3e937dff) | [121](#ice2e082d9c3e4edc97003dca3e937dff) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.22&nbsp;&nbsp;&nbsp;&nbsp;Insurance](#i69cdfc4547b946aebfc382d6e9240621) | [121](#i69cdfc4547b946aebfc382d6e9240621) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.23&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Hedging](#i9c8c609e39894cf2bfbd57ff46bd4fd0) | [122](#i9c8c609e39894cf2bfbd57ff46bd4fd0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.24&nbsp;&nbsp;&nbsp;&nbsp;Protection of Security Interests](#i832c1642d5f444a6884f4972fc1b250e) | [122](#i832c1642d5f444a6884f4972fc1b250e) |
| **[ARTICLE VII <br>NEGATIVE COVENANTS](#if1ecf37a57c74a789a6d19ef5d0d5d49)** | **[122](#if1ecf37a57c74a789a6d19ef5d0d5d49)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.01&nbsp;&nbsp;&nbsp;&nbsp;Liens](#ie9a32b2471424ba1afc3c23b6832d090) | [123](#ie9a32b2471424ba1afc3c23b6832d090) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.02&nbsp;&nbsp;&nbsp;&nbsp;Investments](#id17221fd607f4314b52a611d6dc4e3a4) | [126](#id17221fd607f4314b52a611d6dc4e3a4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.03&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness](#i933ce04613a947d6b4ea8876cd2c6ed4) | [127](#i933ce04613a947d6b4ea8876cd2c6ed4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.04&nbsp;&nbsp;&nbsp;&nbsp;Fundamental Changes](#i15b7f4c3ba72427a950f109931923a63) | [130](#i15b7f4c3ba72427a950f109931923a63) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.05&nbsp;&nbsp;&nbsp;&nbsp;Dispositions](#i2cfdba41777743f29d28d226a04d972f) | [130](#i2cfdba41777743f29d28d226a04d972f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.06&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments](#idd2f44c2d2514d05a3b11820df070e2b) | [131](#idd2f44c2d2514d05a3b11820df070e2b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.07&nbsp;&nbsp;&nbsp;&nbsp;Transactions with Affiliates](#ia785872a8d2a4db3a3c760d28de40b39) | [132](#ia785872a8d2a4db3a3c760d28de40b39) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.08&nbsp;&nbsp;&nbsp;&nbsp;Burdensome Agreements](#i6bc1e0f8067f44209e81a4322a9e85e3) | [133](#i6bc1e0f8067f44209e81a4322a9e85e3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.09&nbsp;&nbsp;&nbsp;&nbsp;Financial Covenant](#ib191ef5e6dca4119ad746a6a79b507dd) | [133](#ib191ef5e6dca4119ad746a6a79b507dd) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.10&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\]](#i588e87a4fbed489c9a2ceaade03071be) | [133](#i588e87a4fbed489c9a2ceaade03071be) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.11&nbsp;&nbsp;&nbsp;&nbsp;Change in Nature of Business](#i0ca55d27c88b4244928d733ecf3942ff) | [133](#i0ca55d27c88b4244928d733ecf3942ff) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.12&nbsp;&nbsp;&nbsp;&nbsp;Bank Accounts](#i86f36032990942dfafeec3fdb01cdcc8) | [134](#i86f36032990942dfafeec3fdb01cdcc8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.13&nbsp;&nbsp;&nbsp;&nbsp;Subsidiaries](#i4e7a9c939a4a4773958f97a42e34c79e) | [134](#i4e7a9c939a4a4773958f97a42e34c79e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.14&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds](#i52840e7bb25044c9ad2068652ecab558) | [135](#i52840e7bb25044c9ad2068652ecab558) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.15&nbsp;&nbsp;&nbsp;&nbsp;Modification of Material Project Documents](#i2f0ada40465c4c6fa7c4cd7c2c928101) | [135](#i2f0ada40465c4c6fa7c4cd7c2c928101) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.16&nbsp;&nbsp;&nbsp;&nbsp;Additional Material Project Documents; Additional TSAs](#i0ba2080d7fde456dbaf1cf4688667121) | [135](#i0ba2080d7fde456dbaf1cf4688667121) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.17&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Hedges](#ia68fa4cd48fc4c019f9bd2285d4421f3) | [136](#ia68fa4cd48fc4c019f9bd2285d4421f3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.18&nbsp;&nbsp;&nbsp;&nbsp;Accounting Changes](#i4f3083b037b349568385b56d5fc3cb75) | [136](#i4f3083b037b349568385b56d5fc3cb75) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.19&nbsp;&nbsp;&nbsp;&nbsp;No Settlement, Etc.](#i1ba1dcf5a6144be7911c4f635d747f82) | [136](#i1ba1dcf5a6144be7911c4f635d747f82) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.20&nbsp;&nbsp;&nbsp;&nbsp;Amendments to Constitutional Documents](#i740ff1bb22f941e0a12c63e2fbebffed) | [136](#i740ff1bb22f941e0a12c63e2fbebffed) |
| **[ARTICLE VIII <br>EVENTS OF DEFAULT AND REMEDIES](#i702c3263ce4c47cfa87316a275dd1a07)** | **[136](#i702c3263ce4c47cfa87316a275dd1a07)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.01&nbsp;&nbsp;&nbsp;&nbsp;Events of Default](#i4684c243fb9e475db7aae31441889660) | [136](#i4684c243fb9e475db7aae31441889660) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.02&nbsp;&nbsp;&nbsp;&nbsp;Remedies Upon Event of Default](#i6f79c5f6945743b0a093a4487a67ac79) | [139](#i6f79c5f6945743b0a093a4487a67ac79) |

---

iii

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.03&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\]](#i6bed78a179c74b8f88eb3d86e9a40135) | [140](#i6bed78a179c74b8f88eb3d86e9a40135) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.04&nbsp;&nbsp;&nbsp;&nbsp;Application of Funds](#i68407de0bb0340ee9adfdc20a2e7247c) | [140](#i68407de0bb0340ee9adfdc20a2e7247c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.05&nbsp;&nbsp;&nbsp;&nbsp;Borrower's Right to Cure](#ie43f2e0800694b448acbb2789c63b851) | [141](#ie43f2e0800694b448acbb2789c63b851) |
| **[ARTICLE IX <br>ADMINISTRATIVE AGENT AND OTHER AGENTS](#ied868d2d7dc44e2eb2b279e3ba6f6d25)** | **[142](#ied868d2d7dc44e2eb2b279e3ba6f6d25)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.01&nbsp;&nbsp;&nbsp;&nbsp;Appointment and Authorization of Agents](#i74fab63bdca041319e24e324c3713039) | [142](#i74fab63bdca041319e24e324c3713039) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.02&nbsp;&nbsp;&nbsp;&nbsp;Delegation of Duties](#id4e558f620c1439783218a4fd56566ce) | [143](#id4e558f620c1439783218a4fd56566ce) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.03&nbsp;&nbsp;&nbsp;&nbsp;Liability of Agents](#ic97e1b5be5a641288dc693e3516e8ec8) | [143](#ic97e1b5be5a641288dc693e3516e8ec8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.04&nbsp;&nbsp;&nbsp;&nbsp;Reliance by Agents](#iceb393ab74e74af6b59d28ad17628357) | [144](#iceb393ab74e74af6b59d28ad17628357) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.05&nbsp;&nbsp;&nbsp;&nbsp;Notice of Default](#i4e91b711cc814bc68dc85689e7d59cca) | [144](#i4e91b711cc814bc68dc85689e7d59cca) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.06&nbsp;&nbsp;&nbsp;&nbsp;Credit Decision; Disclosure of Information by Agents](#i346721e32f184716bdb3709c02b19ff3) | [144](#i346721e32f184716bdb3709c02b19ff3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.07&nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Agents](#ibe0ca48a34e14373a9911072fda9073c) | [145](#ibe0ca48a34e14373a9911072fda9073c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.08&nbsp;&nbsp;&nbsp;&nbsp;Agents in Their Individual Capacities](#ie2921e0c46434a37bf5279b200109964) | [145](#ie2921e0c46434a37bf5279b200109964) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.09&nbsp;&nbsp;&nbsp;&nbsp;Successor Agents](#i53319848b7b44ffbb195e3d91f20fd65) | [146](#i53319848b7b44ffbb195e3d91f20fd65) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.10&nbsp;&nbsp;&nbsp;&nbsp;Administrative Agent May File Proofs of Claim](#i4a962bb8b674463a9d6075dd2186139a) | [147](#i4a962bb8b674463a9d6075dd2186139a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.11&nbsp;&nbsp;&nbsp;&nbsp;Collateral and Guaranty Matters](#ibaf44e6933004c34b575a41b9fdeffb2) | [147](#ibaf44e6933004c34b575a41b9fdeffb2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.12&nbsp;&nbsp;&nbsp;&nbsp;Other Agents; Lead Arrangers and Managers](#i4681b968bf834782b9714841af06bad0) | [148](#i4681b968bf834782b9714841af06bad0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.13&nbsp;&nbsp;&nbsp;&nbsp;Appointment of Supplemental Agents](#i75f90e5842634b2b9e21b60bb28660e0) | [149](#i75f90e5842634b2b9e21b60bb28660e0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.14&nbsp;&nbsp;&nbsp;&nbsp;Withholding Tax Indemnity](#i10925ebfdf184835b02fda2d3262e299) | [149](#i10925ebfdf184835b02fda2d3262e299) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.15&nbsp;&nbsp;&nbsp;&nbsp;ERISA Matters](#id8400ecc522f47fc8c6fb3d0f4daec2a) | [150](#id8400ecc522f47fc8c6fb3d0f4daec2a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.16&nbsp;&nbsp;&nbsp;&nbsp;Erroneous Payments](#ide37a6a5f25846b4a42f22c6a0dd0435) | [151](#ide37a6a5f25846b4a42f22c6a0dd0435) |
| **[ARTICLE X <br>MISCELLANEOUS](#i3ae45d603a1340ed862732c4c513377e)** | **[152](#i3ae45d603a1340ed862732c4c513377e)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.01&nbsp;&nbsp;&nbsp;&nbsp;Amendments, Etc.](#i39a9038e42f2485d99977256ab203da6) | [152](#i39a9038e42f2485d99977256ab203da6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.02&nbsp;&nbsp;&nbsp;&nbsp;Notices and Other Communications; Facsimile Copies](#i635b4ddb04604cbc9e2d43bc919e747d) | [156](#i635b4ddb04604cbc9e2d43bc919e747d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.03&nbsp;&nbsp;&nbsp;&nbsp;No Waiver; Cumulative Remedies](#ie4df3aff4ef94153ad22242342fc9013) | [157](#ie4df3aff4ef94153ad22242342fc9013) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.04&nbsp;&nbsp;&nbsp;&nbsp;Attorney Costs and Expenses](#ib8522f17f6df4492968bb171b626d713) | [157](#ib8522f17f6df4492968bb171b626d713) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.05&nbsp;&nbsp;&nbsp;&nbsp;Indemnification by the Borrower](#i25028177037046f6956e74829e9dc33b) | [158](#i25028177037046f6956e74829e9dc33b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.06&nbsp;&nbsp;&nbsp;&nbsp;Payments Set Aside](#icfcdf3f42ca945be9d8c75b4cb80b09d) | [159](#icfcdf3f42ca945be9d8c75b4cb80b09d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.07&nbsp;&nbsp;&nbsp;&nbsp;Successors and Assigns](#i2fb00136ccf845a4a40176ff2b518084) | [160](#i2fb00136ccf845a4a40176ff2b518084) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.08&nbsp;&nbsp;&nbsp;&nbsp;Confidentiality](#i1e5eaf2195d6455cad43ed68cb48e8af) | [168](#i1e5eaf2195d6455cad43ed68cb48e8af) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.09&nbsp;&nbsp;&nbsp;&nbsp;Setoff](#ie97fdc610551428793cc7a7ee67df4ea) | [169](#ie97fdc610551428793cc7a7ee67df4ea) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.10&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Limitation](#i3dc99bf754e9411791e6ab8db7773a0b) | [170](#i3dc99bf754e9411791e6ab8db7773a0b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.11&nbsp;&nbsp;&nbsp;&nbsp;Counterparts](#i9203b050214549e49f49e5c35b288e90) | [170](#i9203b050214549e49f49e5c35b288e90) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.12&nbsp;&nbsp;&nbsp;&nbsp;Integration; Termination](#ibf0b87ef356e4ee18be2f11736c293f7) | [170](#ibf0b87ef356e4ee18be2f11736c293f7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.13&nbsp;&nbsp;&nbsp;&nbsp;Survival of Representations and Warranties](#iac255e5b385648ea845718a29d3b6271) | [170](#iac255e5b385648ea845718a29d3b6271) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.14&nbsp;&nbsp;&nbsp;&nbsp;Severability](#ifba4b83e99184bc8a47a9e2520e3bb3e) | [171](#ifba4b83e99184bc8a47a9e2520e3bb3e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.15&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING LAW](#i6007a055c1c44b9aa52c66cc2f674e25) | [171](#i6007a055c1c44b9aa52c66cc2f674e25) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.16&nbsp;&nbsp;&nbsp;&nbsp;WAIVER OF RIGHT TO TRIAL BY JURY](#i93f1d6f958074feca03ca96349e21677) | [172](#i93f1d6f958074feca03ca96349e21677) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.17&nbsp;&nbsp;&nbsp;&nbsp;Binding Effect](#i38fd117109854b9b8f876d94390f99c7) | [172](#i38fd117109854b9b8f876d94390f99c7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.18&nbsp;&nbsp;&nbsp;&nbsp;USA PATRIOT Act](#i54ae62b67eee4b2c97f512b738f2a3ca) | [172](#i54ae62b67eee4b2c97f512b738f2a3ca) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.19&nbsp;&nbsp;&nbsp;&nbsp;No Advisory or Fiduciary Responsibility](#idbcb69ef2fe94d25838d6c5d9fbc1942) | [172](#idbcb69ef2fe94d25838d6c5d9fbc1942) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.20&nbsp;&nbsp;&nbsp;&nbsp;Electronic Execution of Assignments](#icb18b0d5fbf447cb9f52616c96f0edfe) | [173](#icb18b0d5fbf447cb9f52616c96f0edfe) |

---

iv

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.21&nbsp;&nbsp;&nbsp;&nbsp;Appointment of Independent Consultants](#i1d0ab22def254d30b227ec6e5aa1ea4b) | [173](#i1d0ab22def254d30b227ec6e5aa1ea4b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.22&nbsp;&nbsp;&nbsp;&nbsp;Judgment Currency](#i1efa16b4921d474ca08d42f780cdda8a) | [174](#i1efa16b4921d474ca08d42f780cdda8a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.23&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement and Consent to Bail-In of Affected Financial Institutions](#i824a6d8ac159456485cab00c344af8b6) | [174](#i824a6d8ac159456485cab00c344af8b6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.24&nbsp;&nbsp;&nbsp;&nbsp;First Lien Intercreditor Agreement](#i890758bfd2e24321a59965efdcf3ee44) | [174](#i890758bfd2e24321a59965efdcf3ee44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.25&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement Regarding Any Supported QFCs](#iec9fc8f18ac040fb92d5b051c22f30ab) | [175](#iec9fc8f18ac040fb92d5b051c22f30ab) |

---

SCHEDULES

1.01A&nbsp;&nbsp;&nbsp;&nbsp;Commitments

1.01B&nbsp;&nbsp;&nbsp;&nbsp;Collateral Documents

2.05(a)&nbsp;&nbsp;&nbsp;&nbsp;Amortization Schedule

4.01(p)&nbsp;&nbsp;&nbsp;&nbsp;Permits

5.05&nbsp;&nbsp;&nbsp;&nbsp;Certain Liabilities

6.11(b)&nbsp;&nbsp;&nbsp;&nbsp;Closing Date Material Real Property

6.16&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing Deliveries

6.22&nbsp;&nbsp;&nbsp;&nbsp;Insurance Policies

7.01(b) &nbsp;&nbsp;&nbsp;&nbsp;Existing Liens

7.03(b) &nbsp;&nbsp;&nbsp;&nbsp;Existing Indebtedness

7.07&nbsp;&nbsp;&nbsp;&nbsp;Transactions with Affiliates

7.08&nbsp;&nbsp;&nbsp;&nbsp;Certain Contractual Obligations

10.02(a) &nbsp;&nbsp;&nbsp;&nbsp;Administrative Agent's Office, Certain Addresses for Notices

v

------

EXHIBITS

*Form of*

A&nbsp;&nbsp;&nbsp;&nbsp;Committed Loan Notice

B&nbsp;&nbsp;&nbsp;&nbsp;Note

C-1&nbsp;&nbsp;&nbsp;&nbsp;Compliance Certificate

C-2&nbsp;&nbsp;&nbsp;&nbsp;Solvency Certificate

D&nbsp;&nbsp;&nbsp;&nbsp;Assignment and Assumption

E-1&nbsp;&nbsp;&nbsp;&nbsp;Security and Depositary Agreement

E-2&nbsp;&nbsp;&nbsp;&nbsp;Pledge Agreement

F&nbsp;&nbsp;&nbsp;&nbsp;CP2/Matterhorn Consent Agreement

G&nbsp;&nbsp;&nbsp;&nbsp;First Lien Intercreditor Agreement

H-1&nbsp;&nbsp;&nbsp;&nbsp;US Tax Compliance Certificate (Foreign Non-Partnership Lenders)

H-2&nbsp;&nbsp;&nbsp;&nbsp;US Tax Compliance Certificate (Foreign Non-Partnership Participants)

H-3&nbsp;&nbsp;&nbsp;&nbsp;US Tax Compliance Certificate (Foreign Partnership Lenders)

H-4&nbsp;&nbsp;&nbsp;&nbsp;US Tax Compliance Certificate (Foreign Partnership Participants)

I-1&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Lender Assignment and Assumption

I-2&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Lender Notice

J&nbsp;&nbsp;&nbsp;&nbsp;Independent Engineer Certificate

K&nbsp;&nbsp;&nbsp;&nbsp;O&M Consent Agreement

vi

------

**CREDIT AGREEMENT**

This CREDIT AGREEMENT (as the same may be amended, restated, amended and restated, refinanced, supplemented or otherwise modified from time to time, this "**Agreement**") is entered into as of September 29, 2025, among Blackfin Pipeline, LLC, a Delaware limited liability company (the "**Borrower**"), Blackfin Pipeline Pledgor, LLC, a Delaware limited liability company and the direct parent of the Borrower (together with its successors, the "**Parent**"), Blackfin Supply, LLC, a Delaware limited liability company and the direct subsidiary of the Borrower (the "**Permitted Subsidiary**"), MUFG Bank, Ltd. (acting through such of its affiliates or branches as it deems appropriate), as Administrative Agent, Sumitomo Mitsui Banking Corporation (acting through such of its affiliates or branches as it deems appropriate), as Collateral Agent, and each lender from time to time party hereto (collectively, the "**Lenders**" and individually, a "**Lender**").

PRELIMINARY STATEMENTS

WHEREAS, the Borrower has requested that, upon satisfaction or waiver of the conditions set forth in <u>Section 4.01</u>, (i) the Lenders extend credit to the Borrower in the form of the Initial Term Loans from time to time during the TLA Availability Period in an initial aggregate principal amount equal to the aggregate Initial Term Commitment of all of the Term Lenders and (ii) the Lender provide revolving commitments to the Borrower from time to time during the Revolver Availability Period in an initial aggregate principal amount equal to the aggregate Initial Revolving Commitment of all of the Revolving Lenders; and

WHEREAS, the proceeds of the Initial Term Loans and the Initial Revolving Loans will be used by the Borrower, directly or indirectly, for the purposes set forth in <u>Section 5.20</u>; and

WHEREAS, the Lenders have indicated their willingness to lend on the terms and subject to the conditions set forth herein.

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

**ARTICLE I <br>DEFINITIONS AND ACCOUNTING TERMS**

Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. As used in this Agreement (including in the preliminary statements hereto), the following terms shall have the meanings set forth below:

"**Acceptable Bank**" means any major domestic commercial bank or trust company organized under the laws of the United States or of a political subdivision thereof, or by a U.S. branch office of a foreign bank, in any case that at the time any applicable DSR L/C is issued has a long-term issuer rating of at least "A-" by S&P or at least "A3" by Moody's (or a comparable rating from an Acceptable Rating Agency).

"**Acceptable Credit Support**" has the meaning assigned to such term in the Security and Depositary Agreement.

"**Acceptable Owner**" means, any Person, when considered collectively with its Affiliates, that (a) has, or is a direct or indirect Subsidiary of a Person that has (i) a tangible net worth, assets under management or, to the extent its securities are publicly traded, equity value of at least $1 billion or (ii) a minimum long term unsecured credit rating of at least Baa3 or higher by Moody's or at least BBB- or

------

higher by S&P or Fitch, (b)(i) is a Qualified Operator, (ii) has an Affiliate that is a Qualified Operator or (iii) has caused the Borrower to contract for the operation of the Project by one or more Qualified Operators to the extent the Project is not, at the time of (and after giving effect to) the acquisition of the applicable membership interests, operated by a Qualified Operator, (c) is not a Sanctioned Person and (d) has delivered to the Administrative Agent all documentation and other information as it may reasonably request required by the Administrative Agent's regulatory authorities with respect to such Person under applicable Anti-Money Laundering Laws, including, without limitation, applicable "know your customer" rules and the USA PATRIOT Act.

"**Acceptable Rating Agency**" means (a) Moody's, Fitch and/or S&P or (b) any other credit rating agency that is recognized as a nationally recognized statistical rating organization by the Securities Exchange Commission, so long as, in each case, any such credit rating agency described in clause (a) or (b) above continues to be a nationally recognized statistical rating organization recognized by the Securities Exchange Commission and is approved as a "Credit Rating Provider" (or other similar designation) by the NAIC.

"**Additional Lender**" has the meaning set forth in <u>Section 2.12(c)</u>.

"**Additional Material Project Document**" means any contract or agreement entered into by the Borrower after the Closing Date (a) pursuant to which the Company is required to make payments in excess of fifty million Dollars (US$50,000,000) or (b) the termination of which would reasonably be expected to have a Material Adverse Effect.

"**Additional TSA**" means any contract to lease pipeline capacity to transporters and/or provide transportation or/or storage services to shippers, entered into after the execution of this Agreement from time to time, in respect of capacity that is not otherwise contracted pursuant to the CP2 TSA.

"**Adjusted EBITDA**" shall mean, with respect to the Borrower for any period, the Net Income of the Borrower for such period plus, the sum of (in each case without duplication, and without duplication of any modifications contained in the definition of Net Income):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;provision for Taxes based on income, profits, revenue or capital of the Borrower for such period, including, without limitation, state, franchise and similar taxes and foreign withholding taxes (including penalties and interest related to taxes or arising from tax examinations), *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Interest Expense (and to the extent not included in Interest Expense, (A) solely to the extent deducted from Net Income, all cash dividend payments (excluding items eliminated in consolidation) on any series of preferred stock or disqualified stock and (B) costs of surety bonds in connection with financing activities) of the Borrower for such period (net of interest income of the Borrower for such period), *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;depreciation and amortization expenses and capitalized fees, including, without limitation, the amortization of intangible assets, contributions in aid of construction costs, deferred financing costs, contract acquisition costs, prepaid cash items, debt issuance costs, commissions, fees and expenses, and any capitalized software expenditures of the Borrower for such period on a consolidated basis and otherwise determined in accordance with GAAP, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;non-cash items; *provided* that accruals or reserves for potential cash items in any future period may or may not (at the election of the Borrower) be added back in such period and, to the extent

------

added back, the cash payment in respect of such accrual or reserve in a future period shall be subtracted from Adjusted EBITDA in such future period, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;extraordinary, unusual, infrequent or non-recurring items, whether or not classified as such under GAAP, including the following: (i) restructuring, severance, relocation, consolidation, integration or other similar items, (ii) start-up, closure or transition costs, (iii) expenses associated with strategic initiatives, facilities shutdown and opening costs, (iv) signing, retention and completion bonuses, (v) relocation or recruiting expenses, (vi) costs, expenses and losses incurred in connection with any strategic or new initiatives, (vii) transition, consolidation and closing costs for facilities, (viii) business optimization expenses (including costs and expenses relating to business optimization programs), expenses and charges attributable to the implementation of costs savings initiatives, and any restructuring costs, charges or reserves, whether or not classified as such under GAAP (which, for the avoidance of doubt, shall include, without limitation, the effect of inventory optimization programs, facility closure, facility consolidations, retention, severance, systems establishment costs, contract termination costs, future lease commitments and excess pension charges), (ix) new systems design and implementation costs, (x) public company expenses, including costs associated with an initial public offering, (xi) charges and expenses incurred in connection with litigation (including threatened litigation), any investigation or proceeding (or any threatened investigation or proceeding) by a regulatory, governmental or law enforcement body (including any attorney general), and (xii) expenses incurred in connection with casualty events or asset sales outside the ordinary course of business, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all (i) costs, fees and expenses incurred in connection with, or relating to, the Facilities and/or the transactions contemplated by the Loan Documents, (ii) costs, fees and expenses incurred in connection with, or relating to, the TLB Credit Agreement and/or the transactions contemplated by the loan documents thereunder, (iii) costs, fees and expenses incurred in connection with transactions that are out of the ordinary course of business of the Borrower (including transactions proposed but not consummated) including equity issuances, investments, acquisitions, dispositions, recapitalizations, mergers, option buyouts and the incurrence, modification or repayment of indebtedness and (iv) non-operating professional fees, costs and expenses, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;to the extent permitted to be paid hereunder, the amount of any permitted management, monitoring, consulting, transaction or advisory fees and related expenses and indemnities paid to any person that is a direct or indirect parent company (which may be organized, among other things, as a partnership), including any managing member, of the Borrower, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate amount of expenses for such period attributable to non-controlling interests of third parties in any non-wholly-owned subsidiary not included in calculating Net Income in such period, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to the extent permitted to be paid hereunder, any costs or expense incurred by the Borrower pursuant to any management equity plan or stock option or phantom equity plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement and any compensation paid to members of the board of directors at the Borrower, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;any earn-out payment permitted hereunder to the extent paid and to the extent such earn-out payments reduce Net Income, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;to the extent relating to any acquisition, merger, business combination, investment, disposition or similar transaction, or minimum volume commitment, the amount of "run-rate" cost

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savings, operating expense reductions and synergies that are reasonably identifiable and factually supportable and projected by the Borrower in good faith to result from actions either taken or expected to be taken within 24 months of the consummation of such transaction, net of the amount of actual benefits realized prior to or during such period from such transactions (which cost savings, operating expense reductions and synergies shall be calculated on a pro forma basis as though such cost savings, operating expense reductions or synergies had been realized on the first day of such period), *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;any cost and expense incurred by the Borrower in respect of the operation and maintenance of its assets, to the extent such costs and expenses are paid for with the proceeds of cash contributions to the common equity of the Borrower and/or purchases of or investments in equity interests of the Borrower;

*provided* that in the event the Borrower undertakes a Material Project or enters into an MVC Contract, a Material Project EBITDA Adjustment or MVC EBITDA Adjustment, as applicable, may be added to Adjusted EBITDA at the Borrower's option (subject to receipt and approval (such approval not to be unreasonably withheld, conditioned or delayed) by the Administrative Agent of customary information relating to such Material Project or MVC Contract).

"**Administrative Agent**" means MUFG (acting through such of its affiliates or branches as it deems appropriate), in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent.

"**Administrative Agent's Office**" means the Administrative Agent's address and account as set forth on <u>Schedule 10.02(a)</u>, or such other address or account as the Administrative Agent may from time to time notify the Borrower, the Lenders and the Issuing Banks.

"**Administrative Questionnaire**" means an Administrative Questionnaire in such form as may be supplied from time to time by the Administrative Agent.

"**Affected Financial Institution**" means (a) any EEA Financial Institution or (b) any UK Financial Institution.

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

"**Affiliated Lender**" means, at any time, any Lender that is (a) a Sponsor (including portfolio companies of the Sponsors notwithstanding the exclusion in the definition of "Sponsors") (other than (i) the Borrower or the Parent and (ii) any Debt Fund Affiliate), (b) a Non-Debt Fund Affiliate of a Sponsor or (c) a direct or indirect holding company of the Borrower, at such time.

"**Affiliated Lender Assignment and Assumption**" has the meaning set forth in <u>Section 10.07(k)(i)</u>.

"**Affiliated Lender Cap**" has the meaning set forth in <u>Section 10.07(k)(iii)</u>.

"**Affiliated Lender Notice**" has the meaning set forth in <u>Section 10.07(k)(iv)</u>.

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"**Agent-Related Persons**" means the Agents and the Lead Arrangers, together with their respective Affiliates and the officers, directors, employees, partners, agents, advisors, attorneys-in-fact and other representatives of such Persons and Affiliates.

"**Agents**" means, collectively, the Administrative Agent, the Collateral Agent, the Intercreditor Agent and the Supplemental Agents (if any).

"**Aggregate Commitments**" means the Commitments of all the Lenders.

"**Agreement**" has the meaning set forth in the introductory paragraph hereto.

"**All-In Yield**" means, as to any Indebtedness, the yield thereof, whether in the form of interest rate, margin, OID, upfront fees, a SOFR or Base Rate floor, or otherwise, in each case, incurred or payable by the Loan Parties generally to all lenders of such Indebtedness; *provided* that OID and upfront fees shall be equated to an interest rate assuming a four (4)-year life to maturity (e.g., 100 basis points of original issue discount equals to 25 basis points of interest margin for a four (4) year average life to maturity) or, if less, the stated life to maturity at the time of incurrence of the applicable Indebtedness; and *provided*, *further*, that (a) "All-In Yield" shall not include amendment fees, consent fees, arrangement fees, structuring fees, commitment fees, underwriting fees, placement fees, advisory fees, success fees, ticking fees, undrawn commitment fees and similar fees (regardless of whether any of the foregoing fees are paid to, or shared with, in whole or in part any or all lenders of such Indebtedness), any fees not paid or payable in the primary syndication of such Indebtedness or other fees not paid or payable generally to such lenders ratably (or, if there is only one Lender (or one affiliated group of Lenders), are of the type not customarily shared with lender generally) and (b) if any Incremental Term Loans include a SOFR or Base Rate floor that is greater than the SOFR or Base Rate floor applicable to any existing Class of Term Loans, such differential between SOFR or Base Rate floors, as applicable, shall be included in the calculation of All-In Yield, but only to the extent an increase in the SOFR or Base Rate floor applicable to the existing Term Loans would cause an increase in the interest rate then in effect thereunder, and in such case the SOFR and Base Rate floors (but not the Applicable Rate, unless the Borrower otherwise elects in its sole discretion) applicable to the existing Term Loans shall be increased to the extent of such differential between SOFR or Base Rate floors, as the case may be.

"**Anti-Corruption Laws**" means any and all Laws related to the prevention of corruption or bribery, including, but not limited to, the U.S. Foreign Corrupt Practices Act of 1977 and the UK Bribery Act 2010, each as amended.

"**Anti-Money Laundering Laws**" means any and all Laws related to the prevention of money laundering or terrorism financing, including, but not limited to, the Bank Secrecy Act, as amended by Title III of the USA PATRIOT Act.

"**Applicable Rate**" means a percentage *per annum* equal to (a) for Term SOFR Loans, 2.25%, provided that each such rate shall increase by 0.25% on the fourth anniversary of the Closing Date and (b) for Base Rate Loans, 1.25%, provided that each such rate shall increase by 0.25% on the fourth anniversary of the Closing Date.

"**Appropriate Lender**" means, at any time, (a) with respect to Loans of any Class, the Lenders of such Class and (b) with respect to Letters of Credit, (i) the relevant Issuing Banks and (ii) the Revolving Lenders.

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"**Approved Fund**" means, with respect to any Lender, any Fund that is administered, advised or managed by (a) such Lender, (b) an Affiliate of such Lender or (c) an entity or an Affiliate of an entity that administers, advises or manages such Lender.

"**Assignees**" has the meaning set forth in <u>Section 10.07(b)(i)</u>.

"**Assignment and Assumption**" means an Assignment and Assumption substantially in the form of <u>Exhibit D</u>.

"**Attorney Costs**" means and includes all reasonable and documented fees, out-of-pocket expenses and disbursements of any law firm or other external legal counsel.

"**Attributable Indebtedness**" means, on any date, in respect of any Capitalized Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP.

"**Auto-Extension Letter of Credit**" has the meaning set forth in Section 2.19(b)(iii).

"**Available Amount**" shall mean, at any time (the "**Reference Date**"), the sum of (without duplication):

&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;100% of Cash Flow Available for Distribution; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;(ii) &nbsp;&nbsp;&nbsp;&nbsp;to the extent not already reflected as a return of capital with respect to such Investment for purposes of determining the amount of such Investment, the aggregate amount of all cash dividends and other distributions received by the Borrower from any Investments (to the extent that such Investments are made with a prior utilization of the Available Amount) during the period from and including the Closing Date through and including the Reference Date; *provided*, in no case shall such amount exceed the amount of such Investment made using the Available Amount; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;proceeds (consisting of cash or Permitted Investments) (other than proceeds of ordinary course asset sales) of any Disposition by the Borrower that are Not Otherwise Applied; *minus*

&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the sum of the amounts include in this definition used to (i) incur Liens pursuant to <u>Section 7.01(r)</u>, (ii) make Investments pursuant to <u>Section 7.02(o)</u>, (iii) incur Indebtedness pursuant to <u>Section 7.03(j)</u> and (iv) pay dividends or make distributions pursuant to <u>Section 7.06(b)</u> (and, for purposes of this <u>clause (iv)</u>, without taking account of the intended usage of the Available Amount on such Reference Date).

"**Available Equity Amount**" means, as of any time of determination, an aggregate amount not greater than the sum of,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 100.0% of (i) the net cash proceeds and Cash Equivalent proceeds and the fair market value, as determined in good faith by the Borrower, of marketable securities or other property (with respect to such property, to the extent that the Independent Engineer has confirmed that such property would be used or useful in the business of the Borrower) received by the Borrower since the Closing Date from (x) the issuance or sale of its Qualified Equity Interests and/or (y) contributions to its common equity with the net proceeds from the issuance and sale by the Parent (or any direct or indirect parent of the Parent) of its Qualified Equity Interests or a contribution to its common equity (in each case of <u>(x)</u> and <u>(y)</u>, other

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than proceeds from the sale of Equity Interests to, or contributions from, the Borrower and other than the proceeds of any Designated Equity Contribution), *plus* (ii) dividends or returns of capital from Investments made pursuant to <u>Section 7.02(p)</u>, *plus* (iii) the aggregate principal amount of any Indebtedness of the Borrower (other than Indebtedness owed to any Affiliate of the Borrower) exchanged or converted into or replaced by Qualified Equity Interests, *plus* (iv) Net Proceeds of Dispositions that are Declined Proceeds and are Not Otherwise Applied; *provided* that with respect to the components set forth in the foregoing clauses (ii) through (iv), any such amounts included in the calculation of Available Equity Amount shall not be included in calculation of the baskets provided in <u>Section 7.01(r)</u>, <u>Section 7.02(o)</u>, <u>Section 7.03(j)</u>, and <u>Section 7.06(b)</u>; *minus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the sum of the amounts included in <u>clause (a)</u> above used to (i) make Investments pursuant to <u>Section 7.02(p)</u> and (ii) pay dividends or make distributions pursuant to <u>Section 7.06(g)</u>.

"**Available Tenor**" means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (a) if such Benchmark is a term rate, any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an interest period pursuant to this Agreement or (b) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of "Interest Period" pursuant to <u>Section 3.03(d)</u>.

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

"**Bail-In Legislation**" means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).

"**Bankruptcy Code**" means the U.S. Bankruptcy Code, being Title 11 of the U.S. Code.

"**Base Rate**" means, for any day, a rate per annum equal to the highest of (a) the sum of one-half of one percent (0.50%) per annum and the Federal Funds Rate, (b) the Prime Rate on such day and (c) Term SOFR published on such day (or if such day is not a Business Day the next previous Business Day) for an Interest Period of one month plus one percent (1.00%).

"**Base Rate Loan**" means a Loan that bears interest based on the Base Rate.

"**Benchmark**" means, initially, Term SOFR; *provided* that, if a Benchmark Transition Event has occurred with respect to Term SOFR or the then-current Benchmark, then "Benchmark" means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to <u>Section 3.03(a)</u>.

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"**Benchmark Replacement**" means, with respect to any Benchmark Transition Event, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Daily Simple SOFR; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the sum of: (i) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower giving due consideration to (A) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (B) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement to the then-current Benchmark for Dollar-denominated syndicated credit facilities and (ii) the related Benchmark Replacement Adjustment.

If the Benchmark Replacement as determined pursuant to clause (a) or (b) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.

"**Benchmark Replacement Adjustment**" means, with respect to any replacement of the then- current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body and/or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for U.S. dollar- denominated syndicated credit facilities at such time.

"**Benchmark Replacement Conforming Changes**" means, with respect to the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of "Base Rate," the definition of "Business Day," the definition of "U.S. Government Securities Business Day," the definition of "Interest Period" or any similar or analogous definition (or the addition of a concept of "interest period"), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and the applicability of other technical, administrative or operational matters) that the Administrative Agent decides (in consultation with the Borrower) may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of any such rate exists, in such other manner of administration as the Administrative Agent decides (in consultation with the Borrower) is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

"**Benchmark Replacement Date**" means a date and time determined by the Administrative Agent, which date shall be no later than the earliest to occur of the following events with respect to the then-current Benchmark:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;in the case of clause (1) or (2) of the definition of "Benchmark Transition Event," the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;in the case of clause (3) of the definition of "Benchmark Transition Event," the first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by or on behalf of the administrator of such Benchmark (or such component thereof) or the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be non-representative; *provided*, that such non-representativeness, non-compliance or non-alignment will be determined by reference to the most recent statement or publication referenced in such clause (3) and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date.

For the avoidance of doubt, the "Benchmark Replacement Date" will be deemed to have occurred in the case of clause (1) or (2) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof). For the avoidance of doubt, if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.

"**Benchmark Transition Event**" means, with respect to any Benchmark, the occurrence of one or more of the following events with respect to such then-current Benchmark:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp; a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely, *provided* that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the FRB, the Federal Reserve Bank of New York, the Term SOFR Administrator, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), in each case, which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, *provided* that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) or the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof)

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announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer, or as of a specified future date will no longer be, representative.

For the avoidance of doubt, a "Benchmark Transition Event" will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).

"**Benchmark Unavailability Period**" means, with respect to any Benchmark, the period (if any) (x) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with <u>Section 3.03</u> and (y) ending at the time that a Benchmark Replacement has replaced such then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with <u>Section 3.03</u>.

"**Beneficial Ownership Certification**" means a certification regarding individual beneficial ownership solely to the extent required by the Beneficial Ownership Regulation.

"**Beneficial Ownership Regulation**" means 31 C.F.R. § 1010.230.

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

"**Blackfin Capacity Lease**" means that certain Capacity Lease Agreement, dated as of January 19, 2024 (together with all related service orders), between the Borrower and the Transporter for the lease of 100% of the pipeline capacity of the Project in order for the Transporter to provide natural gas transportation services to the Committed Shipper pursuant to a Transportation Service Agreement dated as of November 1, 2024, by and between the Transporter and Venture Global CP2 LNG, LLC (the "**CP2 TSA**").

"**Borrower**" has the meaning set forth in the introductory paragraph to this Agreement.

"**Borrower Materials**" has the meaning set forth in <u>Section 6.02</u>.

"**Borrowing**" means a borrowing consisting of simultaneous Loans of the same Class and Type and, in the case of Term SOFR Loans, having the same Interest Period.

"**Business Day**" means (a) any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state of New York and (b) if such day relates to any interest rate settings or notices of fundings, disbursements or payments in respect of any Term SOFR Loan, means any day that is a U.S. Government Securities Business Day.

"**Capital Expenditures**" means, for any period, the aggregate of all expenditures (whether paid in cash or accrued as liabilities and including in all events all amounts expended or capitalized under Capitalized Leases) by the Borrower during such period that, in conformity with GAAP, are required to be included as capital expenditures on the consolidated statement of cash flows of the Borrower.

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"**Capitalized Lease Obligation**" means, at the time any determination thereof is to be made, the amount of the liability in respect of a Capitalized Lease; *provided* that any obligations of any Person either existing on the Closing Date or created prior to any re-characterization described below (a) that were not included on the consolidated balance sheet of such Person as financing or capital lease obligations and (b) that are subsequently re-characterized as financing or capital lease obligations or indebtedness due to a change in accounting treatment or otherwise, shall for all purposes under this Agreement (including, without limitation, the calculation of Net Income and Adjusted EBITDA) not be treated as financing or capital lease obligations, Capitalized Lease Obligations or Indebtedness.

"**Capitalized Leases**" means all leases that have been or are required to be, in accordance with GAAP, recorded as financings or capital leases (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP; *provided* that for all purposes hereunder the amount of obligations under any Capitalized Lease shall be the amount thereof accounted for as a liability on a balance sheet in accordance with GAAP; *provided, further*, that for purposes of calculations made pursuant to the terms of this Agreement or compliance with any covenant, GAAP will be deemed to treat leases in a manner consistent with its treatment under GAAP as of December 31, 2018, notwithstanding any modifications or interpretive changes thereto that may occur thereafter.

"**Cash Collateral**" has the meaning set forth in <u>Section 2.19(g</u>).

"**Cash Collateralize**" has the meaning set forth in <u>Section 2.19(g)</u>.

"**Cash Equivalents**" means any of the following types of Investments, to the extent owned by any Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Dollars;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;securities issued or directly and fully and unconditionally guaranteed or insured by the U.S. government or any agency or instrumentality thereof the securities of which are unconditionally guaranteed as a full faith and credit obligation of such government with maturities of twenty-four (24) months or less from the date of acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;certificates of deposit, time deposits and eurodollar time deposits with maturities of twenty-four (24) months or less from the date of acquisition, demand deposits, bankers' acceptances with maturities not exceeding one (1) year and overnight bank deposits, in each case with any domestic or foreign commercial bank having capital and surplus of not less than $250,000,000 in the case of U.S. banks and $1,000,000,000 in the case of non-U.S. banks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;repurchase obligations for underlying securities of the types described in <u>clauses (b)</u>, <u>(e)</u>, <u>(f)</u>, <u>(g)</u> and <u>(h)</u> entered into with any financial institution or recognized securities dealer meeting the qualifications applicable to banks specified in clause (c) above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;commercial paper and variable or fixed rate notes rated at least P-2 by Moody's or at least A-2 by S&P (or, if at any time neither Moody's nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency) and in each case maturing within twenty-four (24) months after the date of creation thereof;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;marketable short-term money market and similar funds having a rating of at least P-2 or A-2 from either Moody's or S&P, respectively (or, if at any time neither Moody's nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;readily marketable direct obligations issued by any state, commonwealth or territory of the United States or any political subdivision or taxing authority thereof having an investment grade rating from either Moody's or S&P (or, if at any time neither Moody's nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency) with maturities of twenty-four (24) months or less from the date of acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;readily marketable direct obligations issued by any foreign government or any political subdivision or public instrumentality thereof, in each case having an investment grade rating from either Moody's or S&P (or, if at any time neither Moody's nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency) with maturities of twenty-four (24) months or less from the date of acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Investments with average maturities of twelve (12) months or less from the date of acquisition in money market funds rated AAA (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody's (or, if at any time neither Moody's nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;investments in "money market funds" within the meaning of Rule 2a7 of the Investment Company Act of 1940, as amended, substantially all of whose assets are invested in investments issued by a financial institution having total assets in excess of $5,000,000,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;securities with maturities of twelve (12) months or less from the date of acquisition backed by standby letters of credit issued by any financial institution or recognized securities dealer meeting the qualifications specified in <u>clause (l)</u> below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness or preferred stock issued by Persons with a rating of "A" or higher from S&P or "A2" or higher from Moody's with maturities of twenty-four (24) months or less from the date of acquisition; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;investment funds investing at least ninety percent (90%) of their assets in securities of the types described in <u>clauses (a)</u> through <u>(l)</u> above.

Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth in clause (a) above; *provided* that such amounts are converted into any currency listed in clause (a) as promptly as practicable and in any event within ten (10) Business Days following the receipt of such amounts.

For the avoidance of doubt, any items identified as Cash Equivalents under this definition will be deemed to be Cash Equivalents for all purposes regardless of the treatment of such items under GAAP.

"**Cash Flow Available for Debt Service**" means, for any calculation period, the difference between (a) the Project Revenues deposited into the Revenue Account (or, in the case of the calculation of any projected Debt Service Coverage Ratio, due to be received) during such period, *minus* (b) the Operating Expenses paid (or, in the case of the calculation of any projected Debt Service Coverage Ratio, expected to be paid) by the Borrower during such calculation period, *plus* (c) amounts withdrawn from the Major Maintenance Reserve Account pursuant to the terms of the Security and Depositary Agreement

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during such calculation period *minus* (d) amounts deposited into the Major Maintenance Reserve Account pursuant to the terms of the Security and Depositary Agreement during such calculation period.

"**Cash Flow Available for Distribution**" means, at any time, an aggregate amount, not less than zero, determined on a cumulative basis equal to the sum of, without duplication:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the sum of (i) the Cumulative Retained Available Cash Amount at such time and (ii) the aggregate amount of all Declined Proceeds (and any other Net Proceeds not required for a mandatory prepayment under <u>Section 2.03(b)</u>) as of such time, *minus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the sum of the amounts included in <u>clause (a)</u> above used to (i) incur Liens pursuant to <u>Section 7.01(r)</u>, (ii) make Investments pursuant to <u>Section 7.02(o)</u>, (iii) incur Indebtedness pursuant to <u>Section 7.03(j)</u>, and (iv) pay dividends or make distributions pursuant to <u>Section 7.06(b)</u>.

"**Casualty Event**" means any (a) damage to, destruction of, or other casualty or loss involving, any property or asset or (b) seizure, condemnation, confiscation or taking under the power of eminent domain of, or any requisition of title or use of, or relating to, or any similar event in respect of, any property or asset of the Borrower or the Permitted Subsidiary, in each case, that gives rise to the receipt by the Borrower or the Permitted Subsidiary of any insurance proceeds or condemnation awards.

"**Change of Control**" shall be deemed to occur if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;at any time prior to the Conversion Date, any combination of the Sponsors and their Affiliates shall fail to (i) own beneficially (within the meaning of Rule 13d-5 of the Exchange Act as in effect on the Closing Date), directly or indirectly, in the aggregate, Equity Interests representing at least 50.0% of the the issued and outstanding Equity Interests of the Borrower or (ii) Control the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;at any time on or after the Conversion Date, any combination of the Sponsors, their Affiliates and Acceptable Owners shall fail to (i) own beneficially (within the meaning of Rule 13d-5 of the Exchange Act as in effect on the Closing Date), directly or indirectly, in the aggregate, Equity Interests representing at least 50.0% of the issued and outstanding Equity Interests of the Borrower or (ii) Control the Borrower; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Parent shall cease to own directly or indirectly 100.0% of the Equity Interests of the Borrower.

Notwithstanding the preceding or any provision of Section 13d-3 of the Exchange Act, (i) a Person or group shall not be deemed to beneficially own Equity Interests subject to a stock or asset purchase agreement, merger agreement, option agreement, warrant agreement or similar agreement (or voting or option or similar agreement related thereto) until the consummation of the acquisition of the Equity Interests in connection with the transactions contemplated by such agreement and (ii) if any group includes one or more Permitted Holders, the issued and outstanding Equity Interests of the Parent owned, directly or indirectly, by any Permitted Holders that are part of such group shall be treated as being beneficially owned by such Permitted Holders and shall not be treated as being beneficially owned by such group or any other member of such group for purposes of determining whether a Change of Control has occurred.

"**Class**" (a) when used with respect to any Lender, refers to whether such Lender has a Loan or Commitment with respect to a particular Class of Loans or Commitments, (b) when used with respect to Commitments, refers to whether such Commitments are Initial Term Commitments, Incremental Term

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Commitments, Initial Revolving Commitments or Incremental Revolving Commitments and (c) when used with respect to Loans or a Borrowing, refers to whether such Loans, or the Loans comprising such Borrowing, are Initial Term Loans, Incremental Term Loans, Initial Revolving Loans or Incremental Revolving Loans. Initial Term Commitments, Incremental Term Commitments, Initial Revolving Commitments and Incremental Revolving Commitments (and in each case, the Loans made pursuant to such Commitments) that have different terms and conditions shall be construed to be in different Classes. Commitments (and, in each case, the Loans made pursuant to such Commitments) that have the same terms and conditions shall be construed to be in the same Class. There shall be no more than an aggregate of five (5) Classes of Facilities under this Agreement.

"**Closing Date**" means September 29, 2025, the first date on which all conditions precedent in <u>Section 4.01</u> are satisfied or waived in accordance with <u>Section 4.01</u>.

"**Closing Date Financial Model"** has the meaning set forth in <u>Section 4.01(m)</u>.

"**Code**" means the U.S. Internal Revenue Code of 1986, as amended from time to time.

"**Collateral**" means (a) the "Collateral" as defined in the Security and Depositary Agreement, (b) all the "Collateral", "Pledged Collateral", "Pledged Assets" or "Account Collateral" as defined in any other Collateral Document and (c) any other assets pledged or in which a Lien is granted, in each case, pursuant to any Collateral Document.

"**Collateral Agent**" means SMBC (acting through such of its affiliates or branches as it deems appropriate), in its capacity as collateral agent or pledgee in its own name under any of the Loan Documents, or any successor collateral agent.

"**Collateral and Guarantee Requirement**" means, at any time, the requirement that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Administrative Agent and the Collateral Agent shall have received each Collateral Document required to be delivered on the Closing Date pursuant to <u>Section 4.01(a)(iii)</u> or from time to time pursuant to <u>Section 6.11</u>, <u>Section 6.12</u> or <u>Section 6.16</u>, subject to the limitations and exceptions of this Agreement, duly executed by each Loan Party party thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Obligations shall have been guaranteed by the Parent and the Permitted Subsidiary pursuant to the Guaranty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Obligations and the Guaranty shall have been secured pursuant to the Pledge Agreement by a first-priority security interest, subject to Permitted Liens, in all the Equity Interests in the Borrower (and the Collateral Agent shall have received certificates or other instruments representing all such Equity Interests (if any), together with undated stock powers or other instruments of transfer with respect thereto endorsed in blank);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all Pledged Debt owing to the Borrower or any other Loan Party that is evidenced by a promissory note with a principal amount in excess of $25,000,000 shall have been delivered to the Collateral Agent pursuant to the Security and Depositary Agreement and the Collateral Agent shall have received all such promissory notes, together with undated instruments of transfer with respect thereto endorsed in blank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Obligations and the Guaranty shall have been secured by a perfected security interest in substantially all now owned or at any time hereafter acquired tangible and intangible assets of the

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Borrower (including Equity Interests, intercompany debt, accounts, inventory, equipment, investment property, contract rights, intellectual property, IP Rights, other general intangibles and proceeds of the foregoing), in each case, subject to exceptions and limitations otherwise set forth in this Agreement and the Collateral Documents (to the extent appropriate in the applicable jurisdiction);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;within 120 days after the Closing Date, the Obligations and the Guaranty shall have been secured by a perfected security interest in, and Mortgages on, substantially all Collateral consisting of Material Real Property, subject to exceptions and limitations otherwise set forth in this Agreement, including this definition, and the Collateral Documents (to the extent appropriate in the applicable jurisdiction); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;subject to limitations and exceptions of this Agreement and the Collateral Documents, to the extent a security interest in and mortgages ("**Mortgages**") on any Material Real Property are required pursuant to <u>clause (g)</u> above or under <u>Section 6.11</u>, <u>Section 6.12</u> or <u>Section 6.16</u> (each, a "**Mortgaged Property**"), within 120 days after the Closing Date (or the applicable later date in accordance with <u>Section 6.11</u>, <u>Section 6.12</u> or <u>Section 6.16</u>), the Administrative Agent shall have received (i) counterparts of a Mortgage with respect to such Mortgaged Property duly executed and delivered by the applicable Loan Party, in form suitable for filing or recording in all filing or recording offices that the Administrative Agent may reasonably deem necessary or desirable in order to create a valid and subsisting perfected Lien (subject only to Permitted Liens) on the property and/or rights described therein in favor of the Collateral Agent for the benefit of the Secured Parties, and evidence that all filing and recording and mortgage taxes and fees have been paid or otherwise provided for in a manner reasonably satisfactory to the Administrative Agent (it being understood that if a mortgage tax will be owed on the entire amount of the indebtedness evidenced hereby, then the amount secured by the Mortgage shall be limited to 100% of the fair market value of the property (as reasonably determined by the Borrower) at the time the Mortgage is entered into if such limitation results in such mortgage tax being calculated based upon such fair market value), (ii) fully paid policies of title insurance (or marked-up title insurance commitments having the effect of policies of title insurance) on the Mortgaged Property naming the Collateral Agent as the insured for its benefit and that of the Secured Parties and their respective successors and assigns (the "**Mortgage Policies**") issued by a nationally recognized title insurance company reasonably acceptable to the Administrative Agent in form and substance and in an amount reasonably acceptable to the Administrative Agent (not to exceed 100% of the fair market value of the real properties covered thereby), insuring the Mortgages to be valid subsisting first priority Liens on the property described therein, subject to Permitted Liens (and for avoidance of doubt, excluding any mechanics' lien coverage unless the title company agrees to provide such mechanics' lien coverage based on an indemnity from the Borrower); *provided*, *however*, that in lieu of a zoning endorsement the Administrative Agent may accept a zoning report from a nationally recognized zoning report provider; further, *provided*, *however*, and notwithstanding anything to the contrary, in no event shall Borrower be obligated to obtain Mortgage Policies with respect to any Immaterial Real Property, (iii) (A) to the extent that construction of the

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improvements on such Material Real Property are complete, American Land Title Association/National Society of Professional Surveyors land title surveys, certified to the Collateral Agent and the issuer of the Mortgage Policies in a manner reasonably satisfactory to the Administrative Agent or (B) if applicable, previously obtained ALTA/NSPS land title surveys (collectively, "**Surveys**"), *provided*, *however*, that in no event shall any Loan Party be obligated to obtain Surveys with respect to any Immaterial Real Property, (iv) customary legal opinions of local counsel for the relevant Loan Party in the jurisdiction in which such Material Real Property is located, and (v) with respect to each Mortgaged Property, all information as the Administrative Agent may request in order to obtain "Life of Loan" standard flood hazard determination forms from a firm reasonably acceptable to the Administrative Agent covering any Buildings or Manufactured (Mobile) Homes (each as defined in the applicable Flood Insurance Law) constituting Mortgaged Property showing whether or not such Buildings or Manufactured (Mobile) Homes are located in an area designated by the U.S. Federal Emergency Management Agency (or any successor agency) as having special flood hazards requiring flood insurance to be maintained pursuant to Flood Insurance Laws and, to the extent any such Buildings or Manufactured (Mobile) Homes are located in a special flood hazard area, (1) an executed copy of any notice about such special flood hazard area status and flood disaster assistance delivered to the Borrower by the Administrative Agent and (2) evidence of flood insurance required by <u>Section 6.22(b)</u>, in form and substance reasonably satisfactory to Administrative Agent, it being understood that in any event the items required pursuant to this <u>clause (h)(v)</u> shall be required to be delivered at least twenty (20) Business Days prior to the day on which Mortgages are executed pursuant to this <u>clause (h)</u> with respect to each Mortgaged Property.

Notwithstanding the foregoing provisions of this definition or anything in this Agreement or any other Loan Document to the contrary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the foregoing definition shall not require, unless otherwise stated in this <u>clause (A)</u>, the creation or perfection of pledges of, security interests in or taking other actions with respect to the following (collectively, the "**Excluded Assets**"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;(x) any Immaterial Real Property and (y) any Building (as defined in the applicable Flood Insurance Laws) or Manufactured (Mobile) Home (as defined in the applicable Flood Insurance Laws) with a value of less than $20,000,000, unless such Building or Manufactured (Mobile) Home is set forth on Schedule 6.11(b) hereto or otherwise constitutes a natural gas processing plant, compression station or terminal situated thereon;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Margin Stock and Equity Interests in any Person other than the Borrower and the Permitted Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;(x) commercial tort claims where the amount of damages claimed by the applicable Loan Party is less than $25,000,000 and (y) motor vehicles and other assets subject to certificates of title,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;any particular asset, if the pledge thereof or the security interest therein is restricted or prohibited by Law (including any requirement to obtain the consent of any governmental authority or third party (other than a Loan Party) unless such consent has been obtained) after giving effect to the anti-assignment provision of the Uniform Commercial Code (other than proceeds and receivables thereof), the assignment of which is expressly deemed effective under the Uniform Commercial Code notwithstanding such prohibition or restriction,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;any governmental licenses or state or local franchises, charters and authorizations, to the extent a security in any such license, franchise, charter or authorization is prohibited or restricted thereby after giving effect to the anti-assignment provision of the Uniform Commercial Code, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the Uniform Commercial Code notwithstanding such prohibition or restriction,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;letter of credit rights in an amount less than $25,000,000, except to the extent constituting a supporting obligation for other Collateral as to which perfection of the security interest in such other Collateral is accomplished by the filing of a Uniform Commercial Code financing statement (it being understood that no actions shall be required to perfect a security interest in letter of credit rights, other than the filing of a Uniform Commercial Code financing statement),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;any intent-to-use trademark application prior to the filing and acceptance of a "Statement of Use" or "Amendment to Allege Use" with respect thereto, to the extent, if any, that, and solely during the period, if any, in which, the grant of a security interest therein would impair the validity or enforceability, or result in the voiding or cancellation of such intent-to-use trademark application or any registration issuing therefrom (or any right, title or interest in or to any of the foregoing) under applicable federal Law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;other than the Material Project Documents, any lease, license, contract, agreement, asset or other general intangible or any property subject to a purchase money security interest, Capitalized Lease Obligation or similar arrangement, in each case permitted under this Agreement, to the extent that a grant of a security interest therein would violate or invalidate such lease, license, contract, agreement, asset or other general intangible, Capitalized Lease Obligations or purchase money arrangement or create a right of termination in favor of any other party thereto (other than a Loan Party) after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the Uniform Commercial Code notwithstanding such prohibition,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;any particular assets if the Administrative Agent and the Borrower reasonably agree in writing that the burden, cost or consequences (including any adverse tax consequences) of creating or perfecting such pledges or security interests therein is excessive in relation to the practical benefits to be obtained therefrom by the Lenders under the Loan Documents,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;any cash or other credit support posted to third parties in the ordinary course of business or otherwise maintained in fiduciary accounts or other accounts (including escrow accounts) maintained solely to secure obligations permitted under this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;deposit, securities or commodities accounts the balance of which consists of funds used for the payment of salaries and wages, workers compensation, employee benefits and similar expenses and taxes related thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;(i) no actions or filings in any non-U.S. jurisdiction or required by the laws of any non-U.S. jurisdiction shall be required in order to create, record, perfect or make enforceable any security interests in assets located or titled outside of the U.S., including any IP Rights registered in any non-U.S. jurisdiction, or to perfect such security interests (it being understood that there shall be no security

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agreements or pledge agreements governed under the laws of any non-U.S. jurisdiction), and the Borrower shall not be required to reimburse the Administrative Agent or any Lender for any such actions or filings outside of the United States, (ii) no actions other than the filing of a financing statement under the Uniform Commercial Code with respect to the Borrower or the Parent shall be required to perfect security interests in any Collateral consisting of notes or other evidence of Indebtedness, except to the extent set forth in <u>clause (d)</u> to the first paragraph of this definition, (iii) no actions other than the filing of Uniform Commercial Code financing statements and Control Agreement(s) shall be required to perfect security interest in any Collateral consisting of proceeds of other Collateral, (iv) no actions shall be required to perfect a security interest in letter of credit rights, other than the filing of a Uniform Commercial Code financing statement, (v) no landlord waivers, bailee letters, estoppels, warehouseman waivers or other collateral access or similar letters or agreements shall be required, (vi) no filings or registrations or other actions shall be required with respect to any As-Extracted Collateral (as defined in Article 8 of the UCC) and (vii) except to the extent that perfection and priority may be achieved by the filing of a financing statement under the Uniform Commercial Code with respect to the Borrower or any other Loan Party, the Loan Parties shall not be required to perfect or provide priority with respect to any security interest on any assets or property except as required pursuant to the Collateral and Guarantee Requirement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;the Collateral Agent (at the direction of the Administrative Agent, in its reasonable discretion) may grant extensions of time for the creation or perfection of security interests in, and Mortgages on, or obtaining of Mortgage Policies or other title insurance or taking other actions with respect to, particular assets (including extensions beyond the dates set forth in this definition) or any other compliance with the requirements of this definition where it reasonably determines, in consultation with the Borrower, that the creation or perfection of security interests and Mortgages on, or obtaining of Mortgage Policies or other title insurance or taking other actions, or any other compliance with the requirements of this definition cannot be accomplished without undue delay, burden or expense by the time or times at which it would otherwise be required by this Agreement or the Collateral Documents; *provided* that the Collateral Agent shall have received on or prior to the Closing Date (i) Uniform Commercial Code financing statements in appropriate form for filing under the Uniform Commercial Code in the jurisdiction of incorporation or organization of each Loan Party and (ii) to the extent applicable, any certificates or instruments representing or evidencing Equity Interests in or held by the Borrower (to the extent certificated) accompanied by instruments of transfer and stock powers undated and endorsed in blank (or confirmation in lieu thereof reasonably satisfactory to the Administrative Agent or its counsel such that certificates, powers and instruments have been sent for overnight delivery to the Collateral Agent or its counsel); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;Liens required to be granted from time to time pursuant to the Collateral and Guarantee Requirement shall be subject to exceptions and limitations set forth in this Agreement and the Collateral Documents.

"**Collateral Documents**" means, collectively, the Security and Depositary Agreement, the Control Agreements, the Pledge Agreement, the CP2/Matterhorn Consent Agreement, the O&M Consent Agreement, each of the collateral assignments, security agreements, pledge agreements, any other similar agreements delivered to the Administrative Agent or the Collateral Agent pursuant to the Collateral and Guarantee Requirement, <u>Section 4.01</u>, <u>Section 6.11</u>, <u>Section 6.12</u> or <u>Section 6.16</u>, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Administrative Agent or the Collateral Agent for the benefit of the Secured Parties to secure the Obligations. 

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"**Commercial Consultant**" means Fiveways Consulting Services, Ltd and/or Subsidiaries and Affiliates of Fiveways Consulting Services, Ltd.

"**Commitment**" means, as to each Lender, its Term Loan Commitment, Revolving Commitment, and Incremental Commitment, in each case, if any.

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

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

"**Committed Shipper**" means Venture Global CP2 LNG, LLC.

"**Compensation Period**" has the meaning set forth in <u>Section 2.10(c)(ii)</u>.

"**Compliance Certificate**" means a certificate substantially in the form of <u>Exhibit C-1</u>.

"**Compression System Installation Contract**" means that certain Modular Compression System Installation Contract, dated as of June 30, 2023, by Venture Global Midstream Holdings, LLC, as assigned to the Borrower, and the Compression System Installation Contractor.

"**Compression System Installation Contractor**" means Solar Turbines Incorporated.

"**Contractual Obligation**" means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.

"**Construction Account**" is defined in the Security and Depositary Agreement.

"**Construction Budget**" means a budget setting forth all expected Project Costs through ISD delivered to the Administrative Agent on the Closing Date pursuant to <u>Section 4.01(n)</u>, as such budget may be updated and modified in accordance with the terms of this Agreement.

"**Construction Contractors**" means Troy Construction, LLC, and MPG Pipeline Contractors, LLC.

"**Construction Contracts**" means (i) that certain Blackfin Pipeline Modified Lump Sum Contract, dated as of January 26, 2024, effective as of May 18, 2023 between the Borrower and MPG Pipeline Contractors, LLC and (ii) that certain Blackfin Sheridan Lateral Pipeline Construction and Installation Contract, dated as of January 26, 2024, effective as of May 18, 2023 between the Borrower and Troy Construction, LLC.

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

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"**Control Agreement**" means one or more control agreements entered into by the Borrower or any other Loan Party (as applicable), the Collateral Agent and the securities intermediary or depositary bank party thereto (as applicable), which (a) provides that the securities intermediary or depositary bank party thereto (as applicable) shall comply with any entitlement order or other instruction originated by the Borrower or such other Loan Party (as applicable), and, upon delivery of written notice that an Event of Default has occurred, the Collateral Agent (but not, after such notice (unless rescinded), the Borrower) and (b) is otherwise sufficient to establish the Collateral Agent's control per Section 9-104 or 9-106 (as applicable) of the UCC.

"**Conversion**" means the occurrence of the Conversion Date.

"**Conversion Date**" means the first date on which each of the conditions set forth below has been satisfied, in each case as certified by the Borrower (unless waived by the Required Lenders):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall deliver to the Administrative Agent and the Lenders a certificate of the Independent Engineer certifying as to the occurrence of "Mechanical Completion" under the Construction Contracts and "Substantial Completion" under the Compression System Installation Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall have paid in full all amounts then due and payable under the Construction Contracts other than (i) amounts required to complete the construction of the Project (in respect of which the Borrower shall have reserved sufficient funds available to pay for punch list items and the remaining Project Costs), (ii) amounts properly withheld or retained by the Borrower in accordance with the terms and conditions of the Construction Contracts, (iii) amounts needed to pay bonuses or other amounts payable under the Construction Contracts after final completion and (iv) in the event that any amount under the Construction Contracts has been disputed by the Borrower, adequate amounts shall have been reserved for payment thereof on deposit in the Construction Account;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall have certified in writing to the Administrative Agent and the Lenders that the insurance and reinsurance policies specified with respect to the operating period risks for the Project are in full force and effect, including payment of all premiums required at such time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any Permits set forth on <u>Schedule 4.01(p)</u>, applications with respect to any Permit set forth on <u>Schedule 4.01(p)</u> and other actions necessary at such time to enable the Borrower to exercise its material rights and to perform and comply with its material obligations under the Material Project Documents to which it is a party, shall have been obtained, and shall be in full force and effect and any conditions required to be satisfied at that time shall have been satisfied or waived;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Initial Debt Service Reserve Account shall have on deposit an amount equal to the Initial Debt Service Reserve Required Balance (including by means of a DSR L/C having been posted for such amount concurrently with the occurrence of the Conversion Date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;(i) the Project shall be free and clear of all Liens other than Permitted Liens and (ii) the Borrower shall have delivered to the Administrative Agent, solely to the extent required under the Construction Contracts, the final lien waivers or duly executed acknowledgements of payments and releases with respect to applicable mechanics' and materialmen's liens under the Construction Contracts;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the representations and warranties of each Loan Party set forth in Article V and in each other Loan Document shall be true and correct in all material respects (except that any representation and warranty that is qualified as to "materiality" or "Material Adverse Effect" shall be true and correct in all respects as so qualified) on and as of the Conversion Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall have submitted to the Administrative Agent an initial operating budget as set forth in <u>Section 6.02(g)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Debt to Equity Ratio shall not exceed the Required Debt to Equity Ratio;

&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;ISD shall have occurred under the CP2 TSA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;no Default or Event of Default shall have occurred and be continuing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;no Force Majeure event shall exist under any Material Project Document that could reasonably be expected to have a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall have delivered to the Administrative Agent and the Lenders an Officer's Certificate confirming satisfaction of the foregoing clauses (a) through (l).

"**CP2/Matterhorn Consent Agreement**" means that certain Consent to Collateral Assignment, dated as of the date hereof, by and between Transporter, the Committed Shipper and the Borrower, substantially in the form attached hereto as <u>Exhibit F</u>.

"**CP2 TSA**" has the meaning set forth in the definition of the term "Blackfin Capacity Lease".

"**Credit Agreement Refinancing Indebtedness**" means (a) Permitted First Priority Refinancing Debt, (b) Permitted Second Priority Refinancing Debt or (c) Permitted Unsecured Refinancing Debt, in each case, issued, incurred or otherwise obtained (including by means of the modification, replacement, refunding, repurchase, extension or renewal of existing Indebtedness) in exchange for, or to modify, extend, renew, replace, refund, repurchase, retire or refinance, in whole or part, existing Loans, or any then-existing Credit Agreement Refinancing Indebtedness ("**Refinanced Debt**"); *provided* that (i) such Indebtedness does not mature prior to the date that is the Maturity Date applicable to the Refinanced Debt or, with respect to Term Loans, have a Weighted Average Life to Maturity shorter than the Refinanced Debt, and (ii) such Refinanced Debt shall be repaid, repurchased, refunded, retired, defeased or satisfied and discharged, all accrued interest, fees, premiums (including tender premiums, if any) and penalties in connection therewith shall be paid, and all commitments thereunder terminated, on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained.

"**Credit Extension**" means a Borrowing or a Letter of Credit Issuance.

"**Cumulative Retained Available Cash Amount**" means, at any date, an amount, not less than zero, equal to, the *sum* of the cumulative Quarterly Retained Available Cash Amount for all Excess Cash Flow Periods ending after the Closing Date and prior to such date.

"**Daily Simple SOFR**" means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent (acting at the direction of the Required

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Lenders) in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining "Daily Simple SOFR" for syndicated business loans; *provided* that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent (acting at the direction of the Required Lenders) and the Borrower may establish another convention in their reasonable discretion that is administratively feasible as determined by the Administrative Agent.

"**Date Certain**" means September 30, 2027.

"**Debt Fund Affiliate**" means any Affiliate of a Sponsor (other than the Parent and its Subsidiaries) that is primarily engaged in, or advises funds or other investment vehicles that are engaged in, making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit or securities in the ordinary course and with respect to which such Sponsor does not, directly or indirectly, possess the power to direct or cause the direction of the investment policies of any such Affiliate. Notwithstanding the foregoing, in no event shall a Natural Person be a Debt Fund Affiliate.

"**Debt Service**" means, for any period, the *sum* of all scheduled cash interest and scheduled principal amortization payments (if any), any ordinary course payments, the current portion of any commitment fees and letter of credit fees and expenses, in each case, due and payable by the Borrower during such period in respect of the Senior Secured Credit Facilities, any Incremental Equivalent Debt and any Interest Rate Hedge Agreements *less* any ordinary course payments received by the Borrower during such period pursuant to Interest Rate Hedge Agreements. For the avoidance of doubt, Debt Service shall not include (i) any principal or interest due and payable with respect to any voluntary or mandatory prepayments pursuant to the Senior Secured Credit Facilities or any Incremental Equivalent Debt , (ii) any scheduled bullet payment required to be paid on the final maturity date of the Senior Secured Credit Facilities and any Incremental Equivalent Debt, (iii) any termination, liquidation or other non-ordinary course payments paid by the Borrower during such period pursuant to Interest Rate Hedge Agreements, (iv) any repayments of any revolving loans, letter of credit loans and letter of credit reimbursement obligations and (v) any amounts required to be transferred to the Debt Service Reserve Accounts (or amounts paid from proceeds in the Debt Service Reserve Accounts or from proceeds of any DSR L/Cs credited thereto).

"**Debt Service Coverage Ratio**" means, for any Test Period, the ratio of (a) the Cash Flow Available for Debt Service to (b) Debt Service; *provided* that, for purposes of this definition (i) Cash Flow Available for Debt Service and Debt Service, in each case as of the last day of the first full fiscal quarter ending after the Conversion Date shall equal the Cash Flow Available for Debt Service or Debt Service, as applicable, for the fiscal quarter ending on such date multiplied by four (4), (ii) Cash Flow Available for Debt Service and Debt Service, in each case as of the last day of the second full fiscal quarter ending after the Conversion Date shall equal the Cash Flow Available for Debt Service or Debt Service, as applicable, for the two (2) fiscal quarters ending on such date multiplied by two (2), and (iii) Cash Flow Available for Debt Service and Debt Service, in each case as of the last day of the third full fiscal quarter ending after the Conversion Date shall equal Cash Flow Available for Debt Service or Debt Service, as applicable, for the three (3) fiscal quarters ending on such date multiplied by 4/3.

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

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"**Debt to Equity Ratio**" means, as of any date of determination, the ratio of (a) the aggregate principal amount of Indebtedness under Senior Secured Credit Facilities and Incremental Equivalent Debt outstanding to (b) the aggregate Equity Contributions received by the Borrower through such date.

"**Debt Service Reserve Accounts**" is defined in the Security and Depositary Agreement.

"**Declined Proceeds**" has the meaning set forth in the TLB Credit Agreement.

"**Default**" means any event or condition specified in <u>Section 8.01</u> that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default.

"**Default Rate**" means an interest rate equal to (a) the Base Rate *plus* (b) the Applicable Rate, if any, applicable to Term Loans that are Base Rate Loans *plus* (c) two percent (2.0%) *per annum*; *provided* that with respect to the overdue principal or interest in respect of a Term SOFR Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan, *plus* two percent (2.0%) *per annum*, in each case to the fullest extent permitted by applicable Laws.

"**Defaulting Lender**" means any Lender whose acts or failure to act, whether directly or indirectly, cause it to meet any part of the definition of "Lender Default."

"**Depositary**" means Sumitomo Mitsui Banking Corporation, in its capacity as depositary bank, or another bank selected by the Borrower and reasonably acceptable to the Administrative Agent.

"**Designated Equity Contribution**" has the meaning set forth in <u>Section 8.05(a)</u>.

"**Disposition**" or "**Dispose**" means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction and any sale or issuance of Equity Interests in a Subsidiary) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith; *provided* that "**Disposition**" and "**Dispose**" shall not be deemed to include any issuance by the Borrower or Parent of any of their respective Equity Interests to another Person.

"**Disqualified Equity Interests**" means any Equity Interest that, by its terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control, event of loss, or asset sale or event of default so long as any rights of the holders thereof upon the occurrence of a change of control, event of loss, asset sale or event of default shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is redeemable at the option of the holder thereof (other than solely for Qualified Equity Interests and other than as a result of a change of control, event of loss, asset sale or event of default so long as any rights of the holders thereof upon the occurrence of a change of control, event of loss, asset sale or event of default shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is ninety-one (91) days after the Latest Maturity Date at the time of issuance of such Equity Interests; *provided* that if such Equity Interests are issued pursuant to a plan for the benefit of future, current or former employees, directors, officers,

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managers or consultants of the Borrower (or any Parent Company thereof) or by any such plan to such employees, such Equity Interests shall not constitute Disqualified Equity Interests solely because it may be required to be repurchased by the Borrower in order to satisfy applicable statutory or regulatory obligations.

"**Disqualified Lenders**" means (a) those Persons that are engaged as principals primarily in private equity, mezzanine financing or venture capital and certain banks, financial institutions, other institutional lenders and other entities, in each case, identified by the Borrower or a Sponsor to the Administrative Agent in writing prior to the Closing Date (which list may be updated on or after the Closing Date with the Administrative Agent's consent (such consent not to be unreasonably withheld, conditioned or delayed)), (b) competitors of the Parent or the Borrower separately identified by the Borrower or a Sponsor to the Administrative Agent in writing from time to time and (c) as to any entity referenced in each case of <u>clauses (a)</u> and <u>(b)</u> (the "**Primary Disqualified Lender**"), any of such Primary Disqualified Lender's known Affiliates or Affiliates identified in writing to the Administrative Agent from time to time or otherwise readily identifiable as such by name, but excluding any Affiliate that is primarily engaged in, or that advises funds or other investment vehicles that are engaged in, making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit or securities in the ordinary course and with respect to which the Primary Disqualified Lender does not, directly or indirectly, possess the power to direct or cause the direction of the investment policies of such entity; *provided* that no updates to the Disqualified Lender list shall be deemed to retroactively disqualify any parties that have previously acquired an assignment or participation (or whose assignment or participation is pending) in respect of the Loans from continuing to hold or vote such previously acquired assignments and participations on the terms set forth herein for Lenders that are not Disqualified Lenders. Any supplement to the list of Disqualified Lenders pursuant to clause (b) or (c) above shall be made by the Borrower to the Administrative Agent in writing (including by email) and such supplement shall take effect the same Business Day such notice is received by the Administrative Agent. The list of Disqualified Lenders shall be made available to any Lender upon request to the Administrative Agent, subject to customary confidentiality requirements.

"**Distressed Person**" has the meaning set forth in the definition of "Lender-Related Distress Event".

"**Distribution Conditions**" is defined in the Security and Depositary Agreement.

"**Distribution Reserve Account**" is defined in the Security and Depositary Agreement.

"**Distribution Reserve Prepayment Amount**" has the meaning set forth in <u>Section 2.03(b)(i)(B)</u>.

"**Dollar**" and "**$**" mean lawful money of the United States.

"**Drawstop Equity Contributions**" means any Equity Contribution by the Parent in addition to the Required Equity during any period in which the Company is not otherwise able to meet the conditions set forth in <u>Section 4.02</u> with respect to the borrowing of Loans hereunder.

"**DSR L/C**" means an irrevocable standby letter of credit issued by an Acceptable Bank (a) naming the Administrative Agent as the beneficiary, (b) that has a stated maturity date that is not earlier than twelve (12) months after the date of issuance of such letter of credit, and (c) that is drawable if (i) it is not renewed or replaced at least thirty (30) days prior to its stated maturity date or (ii) a Negative Credit Event occurs with respect to the issuer and a replacement letter of credit has not been obtained from an

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Acceptable Bank within the earlier of (x) thirty (30) days after the downgrade giving rise to such Negative Credit Event and (y) two Business Days prior to its stated maturity date. 

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

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

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

"**Eligible Assignee**" has the meaning set forth in <u>Section 10.07(a)</u>.

"**Environment**" means the indoor or outdoor environment, including indoor air, ambient air, surface water, groundwater, drinking water, land surface, subsurface strata, and natural resources such as wetlands, flora and fauna.

"**Environmental Laws**" means any applicable Law relating to the prevention of pollution or the protection, cleanup or restoration of the Environment and natural resources or the protection of human health and safety as it relates to exposure to Hazardous Materials, including any applicable Laws relating to the generation, use, handling, transportation, storage, treatment, disposal, Release, or threatened Release of, or exposure to, any Hazardous Materials.

"**Environmental Liability**" means any liability, contingent or otherwise (including any liability for damages, costs of investigation and remediation, fines, or penalties), of the Loan Parties directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, or (d) the Release or threatened Release of any Hazardous Materials into the Environment.

"**Environmental Permit**" means any Permit required under any Environmental Law.

"**Environmental and Social Management Plan**" means the environmental and social management system and, as applicable, related series of plans to address the Project's compliance with applicable Environmental Laws, as such system and plans may be amended from time to time by the Company.

"**Equator Principles**" means the principles named "Equator Principles – A financial industry benchmark for determining, assessing and managing social and environmental risk in projects" adopted by various financing institutions in the form dated July 2020 and effective October 2020, available at: https://equator-principles.com/wp-content/uploads/2020/05/The-Equator-Principles-July-2020-v2.pdf.

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"**Equity Contribution**" means a contribution of capital in the form of equity, or subordinated Indebtedness, regardless of the source of such contributions, which one or more parent companies of the Borrower provide, directly or indirectly, to the Borrower.

"**Equity Interests**" means, with respect to any Person, all of the shares, interests, rights, participations or other equivalents (however designated) of capital stock of (or other ownership or profit interests or units in) such Person and all of the warrants, options or other rights for the purchase, acquisition or exchange from such Person of any of the foregoing (including through convertible securities).

"**ERISA**" means the Employee Retirement Income Security Act of 1974, as amended from time to time.

"**ERISA Affiliate**" means (a) any trade or business (whether or not incorporated) that, together with a Loan Party, is treated as a single employer under Section 414(b) or (c) of the Code, or solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code or (b) any entity (whether or not incorporated) that is under common control within the meaning of Section 4001(a)(14) of ERISA with a Loan Party.

"**ERISA Event**" means (a) a Reportable Event; (b) a withdrawal by a Loan Party or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by a Loan Party or any ERISA Affiliate from a Multiemployer Plan; (d) the filing by the PBGC of a notice of intent to terminate any Pension Plan, the treatment of a Pension Plan or Multiemployer Plan amendment as a termination under Section 4041 or Section 4041A of ERISA, respectively, or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of or the appointment of a trustee to administer any Pension Plan or Multiemployer Plan; (f) with respect to a Pension Plan, the failure to satisfy the minimum funding standards (within the meaning of Section 412 of the Code or Section 302 of ERISA) applicable to such Pension Plan, whether or not waived; or (g) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon a Loan Party or any ERISA Affiliate.

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

"**Event of Abandonment**" means (a) an announcement by the Borrower of a decision to abandon or indefinitely defer, the construction or operation of all or substantially all of the Project Facilities, (b) the suspension or abandonment of all or substantially all activities in respect of the Project for more than sixty (60) consecutive days or three hundred sixty-five (365) non-consecutive days or (c) the Borrower shall make any filing with a Governmental Authority giving notice of the intent or requesting authority to abandon the operation of the Project for any reason; *provided* that, any suspension or delay in construction or operation of the Project caused by a Force Majeure event or casualty event shall not constitute an "**Event of Abandonment**" so long as the Borrower is taking commercially reasonable actions to overcome or mitigate the effects of the cause of the suspension or cessation so that maintenance and/or operations, as the case may be, can be resumed.

"**Event of Default**" has the meaning set forth in <u>Section 8.01</u>.

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"**Excess Cash Flow Period**" means each fiscal quarter commencing with the first full fiscal quarter following the Closing Date.

"**Exchange Act**" means the Securities Exchange Act of 1934, as amended.

"**Excluded Assets**" has the meaning set forth in the definition of "Collateral and Guarantee Requirement".

"**Excluded Swap Obligation**" means, with respect to any Person, (a) any Swap Obligation if, and to the extent that, all or a portion of the Guarantee of such Person of, or the grant by such Person of a security interest to secure, such Swap Obligation (or any Guarantee 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) (i) by virtue of such Person's failure to constitute an "eligible contract participant," as defined in the Commodity Exchange Act and the regulations thereunder (determined after giving effect to any applicable keepwell, support, or other agreement for the benefit of such Person and any and all applicable Guarantees of such Person's Swap Obligations by other Loan Parties), at the time the Guarantee of (or grant of such security interest by, as applicable) such Person becomes or would become effective with respect to such Swap Obligation or (ii) in the case of a Swap Obligation that is subject to a clearing requirement pursuant to section 2(h) of the Commodity Exchange Act, because such Person is a "financial entity," as defined in section 2(h)(7)(C) of the Commodity Exchange Act, at the time the Guarantee of (or grant of such security interest by, as applicable) such Person becomes or would become effective with respect to such Swap Obligation or (b) any other Swap Obligation designated as an "Excluded Swap Obligation" of such Person as specified in any agreement between the relevant Loan Parties or their respective Subsidiaries and the relevant Hedge Provider applicable to such Swap Obligations. If a Swap Obligation arises under a master agreement governing more than one Hedging Agreement, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to the Hedging Agreement for which such Guarantee or security interest is or becomes excluded in accordance with the first sentence of this definition.

"**Excluded Taxes"** means any of the following Taxes imposed on or with respect to any Agent or any Lender, (a) Taxes imposed on or measured by its net income (however denominated) and franchise Taxes, and branch profits Taxes, in each case, (i) imposed by a jurisdiction as a result of such recipient being organized in or having its principal office (or, in the case of any Lender, its applicable Lending Office) in such jurisdiction (or any political subdivision thereof), or (ii) that are Other Connection Taxes, (b) Taxes attributable to a Lender's or the Administrative Agent's failure to comply with <u>Section 3.01(d)</u> or <u>Section 3.01(f)</u>, (c) in the case of any Lender, any U.S. federal withholding Tax that is imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a Law in effect on the date on which (y) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under <u>Section 3.07</u>) or (z) such Lender changes its applicable Lending Office, except to the extent such Lender (or its assignor, if any) was entitled immediately prior to the time of designation of a new Lending Office (or assignment) to receive additional amounts with respect to such withholding Tax pursuant to <u>Section 3.01</u>, (d) any Taxes imposed under FATCA.

"**Expansion Capital Expenditures**" means Capital Expenditures expended in connection with improvements or additions to the Project.

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"**Facility**" or "**Facilities**" means the Initial Term Loans, a given Class of Incremental Term Loans, the Initial Revolving Loans or a given Class of Incremental Revolving Loans, as the context may require.

"**Fair Market Value**" means, with respect to any asset or liability, the fair market value of such asset or liability as determined by the Borrower in good faith.

"**FATCA**" means Sections 1471 through 1474 of the Code (including, for the avoidance of doubt, any agreements entered into pursuant to Section 1471(b)(1) of the Code), as of the Closing Date (and any amended or successor version thereof that is substantively comparable and not materially more onerous to comply with), any current or future Treasury Regulations or other official administrative guidance promulgated thereunder, and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities entered into in connection with the implementation of the foregoing.

"**Federal Funds Rate**" means, for any day, the weighted average of the rates on overnight federal funds transactions with members of the NYFRB arranged by Federal funds brokers, shall set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the federal funds effective rate; *provided* that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published for any day that is a Business Day, the average of the quotations for the day for such transactions as determined by the Administrative Agent; *provided* that if such rate shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement.

"**Fee Letters**" mean (i) that certain Arranger Fee Letter dated September 23, 2025, between the Borrower and the Lead Arrangers, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, (ii) that certain Structuring Fee Letter dated September 23, 2025, between the Borrower and MUFG, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, (iii) that certain Administrative Agent Fee Letter dated September 23, 2025, between the Borrower and the Administrative Agent, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, (iv) that certain Collateral Agent Fee Letter, dated as of the Closing Date, between the Borrower and the Collateral Agent, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, (v) that certain Depositary Fee Letter, dated as of the Closing Date, between the Borrower and the Depositary, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, (vi) that certain Intercreditor Agent Fee Letter, dated as of the Closing Date, between the Borrower and the Intercreditor Agent, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time and (vii) that certain Upfront Fee Letter, dated as of the Closing Date, between the Borrower and the Lenders party thereto, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.

"**Financial Covenant**" means the covenant of the Borrower set forth in <u>Section 7.09</u>.

"**Financial Incurrence Tests**" has the meaning set forth in <u>Section 1.08</u>.

"**Financing Costs**" means interest, scheduled principal (if any), fees (including commitment fees), all other costs, charges, expenses and all other amounts associated with this Agreement or any other

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Loan Document including any applicable amounts payable to any Secured Party, legal and consultant fees and expenses, financial advisory fees, management and agency fees, taxes and other out-of-pocket expenses payable by or on behalf of the Borrower under or in connection with the Loan Documents.

"**First Lien Intercreditor Agreement**" means the Intercreditor Agreement, dated as of hereof, substantially in the form of <u>Exhibit G</u> hereto (subject to amendments, supplements and other modifications from time to time thereto to which the Collateral Agent is authorized to enter into) among the Borrower, MUFG Bank, Ltd., as Intercreditor Agent, the Collateral Agent, the Administrative Agent, MUFG as administrative agent under the TLB Credit Agreement, and each other Secured Party from time to time party thereto (including one or more collateral agents or representatives for the holders of Incremental Term Loans, Permitted First Priority Refinancing Debt, Incremental Equivalent Debt or Secured Hedging Obligations, as applicable, that are intended to be secured on a *pari passu* basis in right of priority to the Obligations). Wherever in this Agreement, an Other Debt Representative is required to become party to the First Lien Intercreditor Agreement, if the related Indebtedness is the initial Indebtedness incurred by the Borrower thereof to be secured by a Lien *pari passu* in right of priority with the Liens securing the Obligations, then the Loan Parties, the Collateral Agent and the Other Debt Representative for such Indebtedness shall execute and deliver the First Lien Intercreditor Agreement or a joinder thereto.

"**First Lien Net Leverage Ratio**" means the ratio of (a) Indebtedness for borrowed money as reflected on the balance sheet of the Borrower that is secured by Parity Lien (but excluding, for the avoidance of doubt, any debt to the extent secured by a Junior Lien), *minus* unrestricted cash and Cash Equivalents to (b) Adjusted EBITDA for the most recent four quarter period for which financial statements are available. Notwithstanding the foregoing, Adjusted EBITDA shall be calculated on an annualized basis using (i) for the first full fiscal quarter ending after the Closing Date, Adjusted EBITDA multiplied by 4, (ii) for the second full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first two full fiscal quarters ending after the Closing Date multiplied by 2 and (iii) for the third full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first three full fiscal quarters ending after the Closing Date multiplied by 4/3.

"**Fitch**" means Fitch Ratings, Inc. or any successor to the rating agency business thereof.

"**Fixed Amounts**" has the meaning set forth in <u>Section 1.08</u>.

"**Flood Insurance Law**" shall mean, collectively, (a) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (b) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (c) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto, (d) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (e) Biggert-Waters Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor thereto.

"**Floor**" means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to Term SOFR. For the avoidance of doubt, the initial Floor for Term SOFR shall be zero percent (0.0%).

"**Force Majeure**" has the meaning given to such term in the Construction Contracts and also means any other force majeure event or analogous occurrence under any Material Project Document.

"**FRB**" means the Board of Governors of the Federal Reserve System of the United States.

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"**Free and Clear Incremental Amount**" means $200,000,000 *minus* the amount of Indebtedness incurred under the TLB Credit Agreement pursuant to the Free and Clear Incremental Amount (as defined in the TLB Credit Agreement) thereunder.

"**Fronting Exposure**" means at any time there is a Defaulting Lender, with respect to the Issuing Banks, such Defaulting Lender's Pro Rata Share of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender's participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof.

"**Fund**" means any Person (other than a Natural Person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course.

"**GAAP**" means generally accepted accounting principles in the United States of America, as in effect from time to time; *provided*, *however*, that (i) if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change in accounting principles or change as a result of the adoption or modification of accounting policies (including, but not limited to, the impact of Accounting Standards Update 2016-12, revenue from Contracts with Customers (Topic 606) or similar revenue recognition policies or any change in the methodology of calculating reserves for returns, rebates and other chargebacks) occurring after the Closing Date in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notify the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith, (ii) GAAP shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under FASB ASC Topic 825 (or any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower at "**fair value,**" as defined therein, and Indebtedness shall be measured at the aggregate principal amount thereof, and (iii) the accounting for operating leases and finance or capital leases under GAAP as in effect on December 31, 2019 (including, without limitation, FASB Accounting Standards Codification 840) shall apply for the purposes of determining compliance with the provisions of this Agreement, including the definition of Capitalized Leases and obligations in respect thereof.

"**Good Faith Contest**" means, with respect to any payment or any related claims or liabilities by any Person, the satisfaction of each of the following conditions: (a) the validity, timing or amount thereof is being diligently contested in good faith by such Person by appropriate proceedings timely instituted, (b) during the period of such contest, the enforcement of any contested item is effectively stayed, (c) neither such Person nor any of its officers nor any Secured Parties or their respective officers is or could reasonably be expected to become subject to any criminal liability or sanction and (d) such contest or proceedings and any resultant failure to pay or discharge the claimed or assessed amount do not and could not reasonably be expected to involve or present a material danger of the sale, forfeiture or loss of the Project or any material part thereof and do not and could not reasonably be expected to interfere in any respect with the use or disposition of the Project and do not and could not otherwise reasonably be expected to result in a Material Adverse Effect.

"**Governmental Authority**" means any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, administrative

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tribunal, central bank or other entity, exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

"**Granting Lender**" has the meaning set forth in <u>Section 10.07(i)</u>.

"**Guarantee**" means, as to any Person, without duplication, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation payable or performable by another Person (the "primary obligor") in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance of such Indebtedness or other monetary obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other monetary obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness or other monetary obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien); *provided* that the term "Guarantee" shall not include endorsements for collection or deposit, in either case in the ordinary course of business, or customary and reasonable indemnity obligations in effect on the Closing Date or entered into in connection with any acquisition or disposition of assets permitted under this Agreement (other than such obligations with respect to Indebtedness). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or is then in effect or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term "**Guarantee**" as a verb has a corresponding meaning.

"**Guarantors**" means the Parent and the Permitted Subsidiary.

"**Guaranty**" means, the guaranty of the Obligations by the Guarantors pursuant to the Security and Depositary Agreement.

"**Hazardous Materials**" means all materials, pollutants, contaminants, chemicals, compounds, constituents, substances or wastes, in any form, including petroleum or petroleum distillates, explosives, radioactive materials, asbestos or asbestos-containing materials, polychlorinated biphenyls, per- and polyfluoroalkyl substances, radon gas, toxic mold, or other materials, substances or wastes that are regulated, or for which liability may be imposed, pursuant to Environmental Law because of such materials', substances' or wastes' dangerous, deleterious, hazardous or toxic properties, qualities or characteristics.

"**Hedge Provider**" means any Person that enters into or accedes to the First Lien Intercreditor Agreement and that (a) is an Agent, a Lead Arranger or a Lender or an Affiliate of an Agent, a Lead Arranger or a Lender that enters into a Secured Hedging Agreement, in its capacity as a party thereto or (b) was an Agent, a Lead Arranger or a Lender or an Affiliate of an Agent, a Lead Arranger or a Lender at the time it entered into a Secured Hedging Agreement, in its capacity as a party thereto.

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"**Hedging Agreement**" means any agreement (other than this Agreement) in respect of any interest rate swap, forward rate transaction, commodity swap, commodity option, interest rate option, interest or commodity cap, interest or commodity floor, interest or commodity collar transaction, currency swap agreement, currency future or option contract (including deal contingent hedge), derivative or hedging transaction or other similar agreements (or any combination thereof).

"**Honor Date**" has the meaning set forth in <u>Section 2.19(c)(i)</u>).

"**Immaterial Real Property**" means on any date of determination, any real property other than Material Real Property.

"**Incremental Amendment**" has the meaning set forth in <u>Section 2.12(f)</u>.

"**Incremental Availability Amount**" has the meaning set forth in <u>Section 2.12(d)(iii)(C)</u>.

"**Incremental Closing Date**" has the meaning set forth in <u>Section 2.12(d)</u>.

"**Incremental Commitments**" means the Incremental Term Commitments and the Incremental Revolving Commitments.

"**Incremental Equivalent Debt**" has the meaning set forth in <u>Section 7.03(n)</u>.

"**Incremental Equivalent First Lien Debt**" has the meaning set forth in <u>Section 7.03(n)</u>.

"**Incremental Facility**" means the Incremental Term Facility and the Incremental Revolving Facility.

"**Incremental Facility Request**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**Incremental Loans**" means Incremental Term Loans and Incremental Revolving Loans.

"**Incremental Revolving Commitments**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**Incremental Revolving Facility**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**Incremental Term Commitments**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**Incremental Term Facility**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**Incremental Term Loan**" has the meaning set forth in <u>Section 2.12(b)</u>.

"**Incurrence Based Amounts**" has the meaning set forth in <u>Section 1.08</u>.

"**Incurrence-Based Incremental Amount**" has the meaning set forth in <u>Section 2.12(d)(iii)(C)</u>.

"**Indebtedness**" means, as to any Person at a particular time, without duplication, all of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;net obligations of such Person under any Hedging Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all obligations of such Person to pay the deferred purchase price of property or services (other than (i) trade accounts and accrued expenses payable in the ordinary course of business, (ii) any earn-out obligation until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP and (iii) accruals for payroll and other liabilities accrued in the ordinary course);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements and mortgage, industrial revenue bond, industrial development bond and similar financings), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all Attributable Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;all obligations of such Person in respect of Disqualified Equity Interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;if and to the extent that the foregoing would constitute indebtedness or a liability in accordance with GAAP; *provided* that Indebtedness of any Parent Company of the Borrower appearing on the balance sheet of the Borrower solely by reason of push-down accounting under GAAP shall be excluded; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to the extent not otherwise included above, all Guarantees of such Person in respect of any of the foregoing.

"**Indemnified Liabilities**" has the meaning set forth in <u>Section 10.05</u>.

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

"**Indemnitees**" has the meaning set forth in <u>Section 10.05</u>.

"**Independent Consultants**" has the meaning set forth in <u>Section 10.21</u>.

"**Independent Engineer**" means Lummus Consultants International, Inc. and/or Subsidiaries and Affiliates of Lummus Consultants International, Inc.

"**Information**" has the meaning set forth in <u>Section 10.08</u>.

"**Initial Debt Service Reserve Account**" is defined in the Security and Depositary Agreement.

"**Initial Debt Service Reserve Required Balance**" is defined in the Security and Depositary Agreement.

"**Initial Revolving Borrowing**" means the Borrowing of Initial Revolving Loans from time to time during the Revolver Availability Period.

"**Initial Revolving Commitment**" means, as to each Revolving Lender, its obligation to make an Initial Revolving Loan to the Borrower pursuant to <u>Section 2.01(b)</u> in an aggregate amount not to exceed the amount set forth opposite such Lender's name in <u>Schedule 1.01A</u> under the caption "Initial Revolving Commitment" or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement (including <u>Section 2.12</u>). The initial aggregate amount of the Initial Revolving Commitment is $75,000,000.

"**Initial Revolving Loans**" means the revolving loans made by the Lenders from time to time during the Revolver Availability Period to the Borrower pursuant to <u>Section 2.01(b)</u>.

"**Initial Term Borrowing**" means the Borrowing of Initial Term Loans from time to time during the TLA Availability Period.

"**Initial Term Commitment**" means, as to each Term Lender, its obligation to make an Initial Term Loan to the Borrower pursuant to <u>Section 2.01(a)</u> in an aggregate amount not to exceed the amount set forth opposite such Lender's name in <u>Schedule 1.01A</u> under the caption "Initial Term Commitment" or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement (including <u>Section 2.12</u>). The initial aggregate amount of the Initial Term Commitment is $425,000,000.

"**Initial Term Loans**" means the term loans made by the Lenders from time to time during the TLA Availability Period to the Borrower pursuant to <u>Section 2.01(a)</u>.

"**Insurance Consultant**" means Moore McNeil, LLC and/or Subsidiaries and Affiliates of Moore McNeil, LLC.

"**Insurance/Loss Proceeds Account**" is defined in the Security and Depositary Agreement.

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"**Insurance Policies**" has the meaning set forth in <u>Section 6.22</u>.

"**Intercreditor Agent**" means MUFG Bank, Ltd., in its capacity as intercreditor agent under the First Lien Intercreditor Agreement.

"**Intercreditor Agreements**" means the First Lien Intercreditor Agreement and any Junior Lien Intercreditor Agreement, collectively, in each case to the extent in effect.

"**Interest Expense**" means, with respect to the Borrower for any period, the sum of (a) gross interest expense and letter of credit fees and commissions of the Borrower for such period on a consolidated basis, including to the extent included in interest expense under GAAP: (i) the amortization of debt discounts, (ii) the amortization of all fees (including fees with respect to Interest Rate Hedge Agreements) payable in connection with the incurrence of Indebtedness to the extent included in interest expense under GAAP, (iii) the portion of any payments or accruals with respect to Capitalized Lease Obligations allocable to interest expense and (iv) redeemable preferred stock dividend expenses, (b) capitalized interest of the Borrower and (c) cash dividends and similar distributions made in cash in respect of Disqualified Equity Interests of the Borrower. For purposes of the foregoing, gross interest expense shall be determined after giving effect to any net payments made or received and costs incurred by the Borrower with respect to Interest Rate Hedge Agreements during such period.

"**Interest Payment Date**" means, (a) as to any Term SOFR Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date of the Facility under which such Loan was made; *provided* that if any Interest Period for a Term SOFR Loan exceeds three (3) months, the respective dates that fall every three (3) months after the beginning of such Interest Period shall also be Interest Payment Dates and (b) as to any Base Rate Loan, the last Business Day of each calendar quarter (commencing with the first full calendar quarter ending after the Closing Date) (*provided*, that, to the extent any Base Rate Loans are made on the Closing Date, the first Interest Payment Date shall be October 31, 2025) and the Maturity Date of the Facility under which such Loan was made.

"**Interest Period**" means, as to each Term SOFR Loan, the period commencing on the date such Term SOFR Loan is disbursed or converted to or continued as a Term SOFR Loan and ending on the date one (1), three (3) or six (6) months thereafter (subject to the availability thereof) or, to the extent agreed by each Lender of such Term SOFR Loan, twelve (12) months or a shorter period thereafter (or, to the extent agreed by the Administrative Agent, solely in the case of the first period commencing on the Closing Date, October 31, 2025, with interest calculated based on a 1-month Interest Period for a Term SOFR Loan), as selected by the Borrower in its Committed Loan Notice; *provided* that:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any Interest Period (other than an Interest Period having a duration of less than one (1) month) that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;no Interest Period shall extend beyond the Maturity Date of the Facility under which such Loan was made.

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"**Interest Rate Hedge Agreements**" means any Hedging Agreement entered into by the Borrower and any Hedge Provider for the purpose of hedging against the Borrower's exposure to interest rates and not for speculative purposes.

"**Investment**" means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests or debt or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person excluding, in the case of the Borrower, intercompany loans, advances, or Indebtedness having a term not exceeding three hundred sixty-four (364) days (inclusive of any roll-over or extensions of terms) and made in the ordinary course of business or (c) the purchase or other acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person. For purposes of covenant compliance, the amount of any Investment at any time shall be the amount actually invested (measured at the time made), without adjustment for subsequent increases or decreases in the value of such Investment.

"**IP Rights**" means all ownership interests in and rights to license or possess the rights to use, exploit, enforce or prevent the use of all of the trademarks, service marks, trade names, domain names, copyrights, patents, patent rights, technology, software, know how, trade secrets, inventions, database rights, design rights and other intellectual property rights, including rights in all registrations thereof and applications for registration therefor.

"**ISD**" means (i) with respect to the Project, the first date on which the Tranche I Elected In-Service Date and the Tranche II Elected In-Service Date (each as defined in the CP2 TSA) have both occurred in accordance with the CP2 TSA and (ii) with respect to any other Material Project, the date on which a Material Project is placed in service pursuant to the TSA applicable to such Material Project.

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

"**Issuing Bank**" means each of MUFG, SMBC, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd. and any other Revolving Lender that becomes an Issuing Bank in accordance with <u>Section 2.19(k)</u> or <u>10.07(p)</u> in each case, in its capacity as an issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder. If there is more than one Issuing Bank at any given time, the term Issuing Bank shall refer to the relevant Issuing Bank(s).

"**Junior Lien Intercreditor Agreement**" means an intercreditor agreement, in form and substance reasonably satisfactory to the Administrative Agent and the Collateral Agent (subject to amendments, supplements and other modifications from time to time thereto to which the Collateral Agent is authorized to enter into) among the Collateral Agent and one or more collateral agents or representatives for the holders of Incremental Term Loans, Permitted Second Priority Refinancing Debt, Incremental Equivalent Debt or Secured Hedging Obligations, as applicable, that are intended to be secured on a basis junior in right of priority to the Obligations. Wherever in this Agreement, an Other Debt Representative is required to become party to the Junior Lien Intercreditor Agreement, if the related Indebtedness is the initial Indebtedness incurred by the Borrower or a Restricted Subsidiary thereof to be secured by a Lien junior in right of priority to the Liens securing the Obligations, then the Borrower, the

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Guarantors, Parent, the Collateral Agent and the Other Debt Representative for such Indebtedness shall execute and deliver the Junior Lien Intercreditor Agreement.

"**Junior Liens**" shall mean Liens on any Collateral junior in lien priority with the Liens on such Collateral securing Parity Lien Debt.

"**Latest Letter of Credit Expiration Date**" means, with respect to any Letter of Credit, the day that is five Business Days prior to the scheduled maturity date then in effect for the applicable Revolving Facility under which such Letter of Credit is issued (or, if such day is not a Business Day, the next preceding Business Day).

"**Latest Maturity Date**" means, at any date of determination, the latest Maturity Date applicable to any Loan or Commitment hereunder at such time, including the latest maturity date of any Incremental Term Loans or Incremental Revolving Loan, in each case as extended in accordance with this Agreement from time to time.

"**Laws**" means, collectively, all international, foreign, federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents, orders, decrees, injunctions or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority.

"**L/C Advance**" means, with respect to each Revolving Lender, such Lender's funding of its participation in any L/C Borrowing in accordance with its Pro Rata Share or other applicable share provided for under this Agreement.

"**L/C Borrowings**" means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the applicable Honor Date or refinanced as a Revolving Loan.

"**L/C Disbursements**" means any payment made by an Issuing Bank pursuant to a Letter of Credit.

"**L/C Obligations**" means as at any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 2.19(l).

"**Lead Arranger**" means MUFG, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd. and SMBC, each in its capacity as a joint lead arranger and joint bookrunner.

"**Lender**" has the meaning set forth in the introductory paragraph to this Agreement, and their respective successors and assigns as permitted hereunder, each of which is referred to herein as a "Lender", excluding, for the avoidance of doubt, any Disqualified Lender.

"**Lender Default**" means (a) the refusal (which may be given verbally or in writing and has not been retracted) or failure of any Lender to make available its portion of any incurrence of any loans or reimbursement obligations required to be made by it, which refusal or failure is not cured within one (1) Business Day after the date of such refusal or failure; (b) the failure of any Lender to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within

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one (1) Business Day of the date when due (including in respect of its participation in Letters of Credit), unless subject to a good faith dispute; (c) a Lender has notified the Borrower or the Administrative Agent that it does not intend to comply with its funding obligations, or has made a public statement to that effect with respect to its funding obligations, under any Facility or under other agreements generally in which it commits to extend credit; (d) a Lender has failed, within three (3) Business Days after request by the Administrative Agent, to confirm that it will comply with its funding obligations under any Facility or to deny that it is insolvent or (e) a Lender has admitted in writing that it is insolvent or such Lender becomes subject to a Lender-Related Distress Event or a Bail-in Action. Any determination by the Administrative Agent that a Lender Default has occurred under any one or more of clauses (a) through (e) above shall be conclusive and binding absent manifest error, and the applicable Lender shall be deemed to be a Defaulting Lender (subject to <u>Section 2.16(c)</u> upon delivery of written notice of such determination to the Borrower and each Lender).

"**Lender-Related Distress Event**" means, with respect to any Lender or any Person that directly or indirectly controls such Lender (each, a "**Distressed Person**"), as the case may be, a voluntary or involuntary case with respect to such Distressed Person under any Debtor Relief Law, or a custodian, conservator, receiver or similar official is appointed for such Distressed Person or any substantial part of such Distressed Person's assets, or such Distressed Person is subject to a forced liquidation, or such Distressed Person makes a general assignment for the benefit of creditors or is otherwise adjudicated as, or determined by any Governmental Authority having regulatory authority over such Distressed Person or its assets to be, insolvent or bankrupt; *provided* that a Lender-Related Distress Event shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any equity interests in any Lender or any Person that directly or indirectly controls such Lender by a Governmental Authority or an instrumentality thereof.

"**Lending Office**" means, as to any Lender, the office or offices of such Lender described as such in such Lender's Administrative Questionnaire, or such other office or offices as such Lender may from time to time notify the Borrower and the Administrative Agent.

"**Letter of Credit**" means any letter of credit issued hereunder, including any DSR L/C. A Letter of Credit shall only be a standby letter of credit and no Issuing Bank shall be required to issue a commercial letter of credit (unless otherwise agreed by such Issuing Bank).

"**Letter of Credit Application**" means an application and agreement for the issuance or amendment of a Letter of Credit, which shall be in a form reasonably acceptable to the relevant Issuing Bank.

"**Letter of Credit Availability Period**" means the period from and including the Closing Date to but excluding the earlier of the Latest Letter of Credit Expiration Date in respect of the applicable Letter of Credit and the date of the recission, termination or cancellation of the Revolving Commitments pursuant to the terms of this Agreement.

"**Letter of Credit Commitment**" means, as to any Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit in an aggregate principal amount not to exceed the amount set forth under the caption "Letter of Credit Commitment" opposite such Issuing Bank's name on <u>Schedule 1.01A</u>, as the same may be changed from time to time pursuant to the terms hereof.

"**Letter of Credit Issuance**" means with respect to any Letter of Credit, the issuance thereof or increase of the amount thereof.

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"**Lien**" means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any Capitalized Lease having substantially the same economic effect as any of the foregoing).

"**Loan**" means any Initial Term Loan, Incremental Term Loan, Initial Revolving Loan or Incremental Revolving Loan, as the context may require.

"**Loan Documents**" means, collectively, (a) this Agreement, (b) the Notes, (c) the Collateral Documents, (d) each Intercreditor Agreement to the extent then in effect and (e) any Incremental Amendment.

"**Loan Parties**" means, collectively, the Borrower, the Parent and the Permitted Subsidiary.

"**Local Accounts**" means shall mean one or more local checking accounts of the Borrower with funds not to exceed in the aggregate (i) prior to the Conversion Date, 60 days of anticipated Project Costs and (ii) on and after the Conversion Date, 60 days of projected Operating Expenses; *provided*, that any such account established pursuant to this definition shall be subject to a Control Agreement within 60 days (or such longer period as the Administrative Agent may agree in writing) of the later of (x) the Closing Date and (y) the opening thereof; *provided further*, that (i) during the 60 day period following the Closing Date, the Local Accounts that are not subject to a Control Agreement during such 60 day period shall not contain more than $10 million (in the aggregate across all such Local Accounts, the Permitted Subsidiary Account or the ROW Accounts that are not subject to a Control Agreement) unless and until such Control Agreement is in full force and effect and (ii) at all other times, no such Local Account shall contain any funds unless and until such Control Agreement is in full force and effect.

"**Long Term Debt**" shall mean Indebtedness of the type set forth in <u>clause (a)</u> of the definition of "Indebtedness" that is extended by a Person other than a Loan Party that matures more than one year from the date of its incurrence.

"**Loss Proceeds**" means the casualty insurance proceeds in respect of physical loss or damage arising from or in connection with a Casualty Event (but excluding proceeds of business interruption, delayed start-up and third-party liability insurance).

"**LTM Adjusted EBITDA**" means, as of any date of determination, Adjusted EBITDA of the Borrower for the most recently ended Test Period of the Borrower, calculated on a pro forma basis, for which financial statements are internally available.

"**Major Maintenance Reserve Account**" is defined in the Security and Depositary Agreement.

"**Margin Stock**" has the meaning set forth in Regulation U issued by the FRB.

"**Market Consultant**" means S&P Global Commodity and/or Subsidiaries and Affiliates of S&P Global Commodity.

"**Material Adverse Effect**" means any event or circumstance affecting the business, assets, operations, properties, or financial condition of the Loan Parties, taken as a whole, that would, individually or in the aggregate, materially adversely affect (i) the business, operations, or financial condition of the Loan Parties, taken as a whole, (ii) the ability of the Loan Parties (taken as a whole) to

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fully and timely perform their payment obligations under the Loan Documents, (iii) the Collateral or the validity, perfection or effectiveness of the security interests granted under any Collateral Document that materially adversely affects the rights, interests or remedies of the Collateral Agent or (iii) the material rights and remedies available to the Lenders and Agents, taken as a whole, under the Loan Documents or the ability of the Secured Parties, taken as a whole, to enforce the Obligations under the Loan Documents.

"**Material Project Counterparty**" means each other Person (other than a Loan Party) counterparty to any Material Project Document.

"**Material Project Documents**" means, individually or collectively, as the context may require, the following contracts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Blackfin Capacity Lease;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the O&M Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any Additional Material Project Document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any other documents as may be entered into by the Borrower and designated by the Borrower as a Material Project Document; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any agreement entered into in replacement of any of the foregoing.

"**Material Project EBITDA Adjustment**" means, with respect to each Material Project of the Borrower:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;prior to the ISD for such Material Project (but including the fiscal quarter in which such ISD occurs), a percentage (equal to the then-current completion percentage of such Material Project) of an amount to be approved by the Administrative Agent in its reasonable discretion as the projected Adjusted EBITDA of the Borrower with respect to such Material Project for the first 12-month period following the scheduled ISD of such Material Project (such amount to be determined based on predominantly contracts relating to such Material Project, the creditworthiness of the other parties to such contracts, and projected revenues from such contracts, capital costs and expenses, scheduled ISD, and other factors reasonably deemed appropriate by the Administrative Agent), which may, at the Borrower's option, be added to actual Adjusted EBITDA for the fiscal quarter in which construction of the Material Project commences and for each fiscal quarter thereafter until the ISD of such Material Project (including the fiscal quarter in which such ISD occurs, but net of any actual Adjusted EBITDA of the Borrower attributable to such Material Project following such ISD) (and it being understood that for any four fiscal quarter test period, such amounts for a 12-month period shall be deemed to be added only to the most recently ended fiscal quarter); *provided* that if the actual ISD does not occur by the scheduled ISD, then the foregoing amount shall be reduced, for periods ending after the scheduled ISD to (but excluding) the first full quarter after its actual ISD, by the following percentage amounts depending on the period of delay (based on the period of actual delay or then-estimated delay, whichever is longer): (i) 90 days or less, 0%, (ii) longer than 90 days, but not more than 180 days, 25%, (iii) longer than 180 days, but not more than 270 days, 50%, (iv) longer than 270 days, but not more than 365 days, 75% and (v) longer than 365 days, 100%; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;beginning with the first full fiscal quarter following the ISD of a Material Project and for two immediately succeeding fiscal quarters, an amount to be approved by the Administrative Agent in its reasonable discretion as the projected Adjusted EBITDA of the Borrower attributable to such Material Project (determined in the same manner as set forth in clause (a) above) for the balance of the four full fiscal quarter period following such ISD, which may, at the Borrower's option, be added to actual Adjusted EBITDA for such fiscal quarters (but net of any actual Adjusted EBITDA of the Borrower attributable to such Material Project following such ISD) (and it being understood that for any four fiscal quarter test period, such amounts shall be deemed to be added only to the most recently ended fiscal quarter).

"**Material Projects**" means the development, design, permitting, engineering, procurement, construction, completion, testing, operation and/or maintenance of any natural gas pipeline system project and any compressor stations and ancillary facilities under any TSA designated by written notice by the Borrower to the Administrative Agent (subject to receipt and approval (such approval not to be unreasonably withheld, conditioned or delayed) by the Administrative Agent of customary information (including *pro forma* projections) relating to such Material Project).

"**Material Real Property**" means any individual parcel of real property or Project Property Right owned, leased or held by any Loan Party and located in the United States with respect to any contiguous portion of the Project which (a) has a natural gas processing plant, compression station or terminal situated thereon or projected to be situated thereon, which, as of the Closing Date, consist of those set forth on <u>Schedule 6.11(b)</u> hereto or (b) has a Fair Market Value (determined at the time of the acquisition thereof) of greater than $20,000,000; provided that, notwithstanding the foregoing, Material Real Property shall not include any Excluded Assets.

"**Maturity Date**" means (a) with respect to the Initial Term Loans, September 29, 2030, (b) with respect to the Initial Revolving Loans and Initial Revolving Commitments, September 29, 2030 and (c) with respect to any Incremental Loans, the final maturity date applicable thereto as specified in the applicable Incremental Amendment; *provided*, in each case, that if such date is not a Business Day, then the applicable Maturity Date shall be the next succeeding Business Day.

"**Maximum Hedge Requirement**" has the meaning set forth in <u>Section 6.23</u>.

"**Maximum Rate**" has the meaning set forth in <u>Section 10.10</u>.

"**MFN Protection**" has the meaning set forth in <u>Section 2.12(e)(iii)</u>.

"**Minimum Hedge Requirement**" has the meaning set forth in <u>Section 6.23</u>.

"**Moody's**" means Moody's Investors Service, Inc. and any successor thereto.

"**Mortgage Policies**" has the meaning set forth in the definition of "Collateral and Guarantee Requirement".

"**Mortgaged Property**" has the meaning set forth in the definition of "Collateral and Guarantee Requirement".

"**Mortgages**" has the meaning set forth in the definition of "Collateral and Guarantee Requirement".

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"**MUFG**" means MUFG Bank, Ltd.

"**Multiemployer Plan**" means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which any Loan Party or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five (5) plan years, has made or been obligated to make contributions if liability to a Loan Party remains.

"**MVC Contract**" means any transportation services or other revenue contract of the Borrower designated by written notice by the Borrower to the Administrative Agent (subject to receipt and approval (such approval not to be unreasonably withheld, conditioned or delayed) by the Administrative Agent of customary information (including pro forma projections) relating to such MVC Contract).

"**MVC EBITDA Adjustment**" means, with respect to any MVC Contract, an amount approved by the Administrative Agent in its reasonable discretion as the projected Adjusted EBITDA of the Borrower with respect to such MVC Contract for the first 12-month period following the execution of such MVC Contract, which may, at the Borrower's option, be added to actual Adjusted EBITDA for the fiscal quarter in which such MVC Contract is executed and for each fiscal quarter thereafter (it being understood that for any four fiscal quarter test period, such amounts for a 12-month period shall be deemed to be added only to the most recently ended fiscal quarter) until four full fiscal quarters have passed since the execution of such MVC Contract at which point no Material Project EBITDA Adjustment (including in respect of prior fiscal quarters) shall be made to Adjusted EBITDA in respect of such MVC Contracts (and any MVC EBITDA Adjustment shall, in each case, be net of any actual Adjusted EBITDA of the Borrower attributable to such MVC Contract).

"**NAIC**" means the National Association of Insurance Commissioners or any successor thereto.

"**Natural Person**" means (a) any natural person or (b) a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural person.

"**Negative Credit Event**" means, with respect to an Acceptable Bank that has issued a DSR L/C, a downgrade in (including the withdrawal of) the Acceptable Bank's long-term unsecured senior debt rating by any Acceptable Rating Agency such that the Acceptable Bank no longer meets the credit criteria set forth in the definition of "Acceptable Bank."

"**Net Income**" means with respect to the Borrower for any period, the net income (or loss) of the Borrower for such period, determined in accordance with GAAP; *provided*, *however* that, without duplication,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any effect of extraordinary, unusual or non-recurring gains or losses (less all fees and expenses relating thereto) or expenses, expenses attributable to the implementation of cost savings initiatives and other restructuring and integration costs (including related to the start-up, closure, and/or consolidation of facilities), and one-time compensation charges shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the net income for such period shall not include the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting policies during such period,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any effect of income (loss) from disposed or discontinued operations and any net gains or losses on disposal of disposed, abandoned, closed, or discontinued operations shall be excluded,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any effect of gains or losses (less all fees and expenses relating thereto) attributable to asset dispositions or transfers other than in the ordinary course of business, as determined by the Borrower in good faith, shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;accruals and reserves (including contingent liabilities) that are established or adjusted within twelve months after the Closing Date that are so required to be established as a result of the transactions contemplated by the Loan Documents (or within twelve months after the closing of any acquisition that are so required to be established as a result of such acquisition) in accordance with GAAP shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;any costs or expenses incurred during such period relating to environmental remediation, litigation, or other disputes in respect of events and exposures that occurred prior to the Closing Date shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;any impairment charge or asset write-off or write-down, including impairment charges or asset write-offs or write-downs related to intangible assets, long-lived assets, investments in debt and equity securities or as a result of a change in law or regulation, in each case, pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;to the extent covered by insurance and actually reimbursed, or, so long as the Borrower has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is in fact reimbursed within 365 days of the date of such determination (with a deduction in the applicable future period for any amount so added back to the extent not so reimbursed within such 365 days), expenses, charges or losses with respect to liability or casualty events or business interruption shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any expenses, charges or losses that are covered by indemnification or other reimbursement provisions in connection with any investment or any sale, conveyance, transfer or other disposition of assets, to the extent actually reimbursed, or, so long as the Borrower has made a determination that a reasonable basis exists for indemnification or reimbursement and only to the extent that such amount is in fact indemnified or reimbursed within 365 days of such determination (with a deduction in the applicable future period for any amount so added back to the extent not so indemnified or reimbursed within such 365 days), shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;any fees and expenses incurred during such period, or any amortization thereof for such period, in connection with any acquisition, investment, recapitalization, new contract start-up, assets sale, issuance, or repayment of indebtedness, issuance of equity interests, refinancing transaction or amendment or modification of any debt instrument (in each case, including any such transaction consummated prior to the Closing Date and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period as a result of any such transaction shall be excluded, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;any non-cash portion of straight line rent expense and any non-cash portion related to rent expense as a result of change on accounting policies shall be excluded.

"**Net Proceeds**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;one hundred percent (100.0%) of the cash proceeds actually received by the Borrower or the Permitted Subsidiary from any Disposition effected pursuant to <u>Section 7.05(a)</u> or <u>7.05(g)</u> or from any Casualty Event, net of (i) attorneys' fees, accountants' fees, investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith, (ii) the principal amount, premium or penalty, if any, interest and other amounts on

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any Indebtedness that is secured by a Lien (other than a Lien that ranks *pari passu* with or subordinated to the Liens securing the Obligations) on the asset subject to such Disposition and that is required to be repaid (and is timely repaid) in connection with such Disposition (other than Indebtedness under the Loan Documents), (iii) taxes paid or reasonably estimated to be payable as a result thereof (including amounts needed to make any Permitted Tax Distributions), and (iv) the amount of any reasonable reserve established in accordance with GAAP against any adjustment to the sale price or any liabilities (other than any taxes deducted pursuant to clause (i) above) (x) related to any of the applicable assets and (y) retained by the Borrower including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations (however, the amount of any subsequent reduction of such reserve (other than in connection with a payment in respect of any such liability) shall be deemed to be Net Proceeds of such Disposition occurring on the date of such reduction); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;one hundred percent (100.0%) of the cash proceeds from the incurrence, issuance or sale by the Borrower of any Indebtedness, net of all taxes paid or reasonably estimated to be payable as a result thereof (including any Permitted Tax Distributions) and fees (including investment banking fees and discounts), commissions, costs and other expenses, in each case incurred in connection with such incurrence, issuance or sale.

For purposes of calculating the amount of Net Proceeds, fees, commissions and other costs and expenses payable to the Borrower shall be disregarded.

"**Non-Capitalized Lease Obligation**" means a lease obligation that is not required to be accounted for as a financing or capital lease on both the balance sheet and the income statement for financial reporting purposes in accordance with GAAP. For the avoidance of doubt, a straight-line or operating lease shall be considered a Non-Capitalized Lease Obligation.

"**Non-Consenting Lender**" has the meaning set forth in <u>Section 3.07(c)</u>.

"**Non-Debt Fund Affiliate**" means any Affiliate of Parent other than (a) Parent or any Subsidiary of Parent, (b) any Debt Fund Affiliates and (c) any Natural Person.

"**Non-Defaulting Lender**" means, at any time, a Lender that is not a Defaulting Lender.

"**Non-Extension Notice Date**" has the meaning set forth in <u>Section 2.19(b)(iii)</u>.

"**Not Otherwise Applied**" means, with reference to any amount of net proceeds of any transaction or event, that such amount was not previously (and is not concurrently being) applied in determining the permissibility of a transaction under the Loan Documents where such permissibility was or is (or may have been) contingent on receipt of such amount or utilization of such amount for a specified purpose.

"**Note**" means a promissory note of the Borrower (i) payable to any Term Lender or its registered assigns, in substantially the form of <u>Exhibit B-1</u>, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans made by such Term Lender and/or (ii) payable to any Revolving Lender or its registered assigns, in substantially the form of <u>Exhibit B-2</u>, evidencing the aggregate Indebtedness of the Borrower to such Revolving Lender resulting from the Revolving Loans made by such Revolving Lender.

"**NYFRB**" means the Federal Reserve Bank of New York.

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"**O&M Account**" is defined in the Security and Depositary Agreement.

"**O&M Agreement**" means that certain Construction, Operation and Management Agreement between the Borrower and WWM Operating LLC, dated November 1, 2024.

"**O&M Consent Agreement**" means that certain Consent to Collateral Assignment, dated as of the date hereof, by and between WWM Operating LLC and the Borrower, substantially in the form attached hereto as <u>Exhibit K</u>.

"**Obligations**" means all (a) advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding and (b) any Secured Hedging Obligations. Without limiting the generality of the foregoing, the Obligations of the Loan Parties under the Loan Documents include the obligation (including guarantee obligations) to pay principal, interest, reimbursement obligations, charges, expenses, fees, Attorney Costs, indemnities and other amounts payable by any Loan Party under any Loan Document, in each such case, to the extent that any of the foregoing are required to be paid under the Loan Documents.

"**OFAC**" means the Office of Foreign Assets Control of the United States Department of the Treasury.

"**Officer's Certificate**" means a certificate signed by a Responsible Officer of the Borrower.

"**OID**" means original issue discount.

"**Operating Expenses**" shall mean (a) (i) the actual cash costs and expenses incurred in connection with the ownership, operation and maintenance of the Project, including payments to the counterparties under the Material Project Documents or any other source, fees and expenses of, and other amounts owing to, the Collateral Agent or any other Agent, (ii) costs, expenses and fees attendant to obtaining and maintaining in effect any Permit, and (iii) payments under any parts agreement, payments for spare parts, consumables, equipment, materials, utilities, repair and routine maintenance services, and replacement costs of assets and properties, (b) all Taxes imposed on and payable by the Borrower (other than any Taxes imposed on or measured by income or receipts), (c) insurance costs payable during such period, including insurance premiums, (d) legal, accounting and other professional fees attendant to any of the foregoing items payable during such period, (e) payments not to exceed $5,000,000 in any calendar year in respect of Indebtedness permitted under <u>Section 7.03(r) that is incurred in the ordinary course of business</u> (other than as excluded pursuant to clause (C), (D) and (E) below), (f) payments of any salaries and benefits of employees, and (g) all other costs and expenses in connection with the management, administration, maintenance, operation, refurbishment, preservation, renovation or restoration of the Project (and any related infrastructure); *provided*, that all of the foregoing costs and expenses shall be determined on a cash basis and shall not include (A) depreciation, amortization and other non-cash items and or other bookkeeping entries of a similar nature, (B) payments of any kind with respect to Restricted Payments, (C) payment of any Capital Expenditures other than Permitted Capital Expenditures, (D) Financing Costs, or (E) financing costs under any Incremental Term Loans, Incremental Revolving Loans or Incremental Equivalent Debt.

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

"**Other Debt Representative**" means, with respect to any (a) series of Permitted First Priority Refinancing Debt, Permitted Second Priority Refinancing Debt or Incremental Equivalent Debt, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be or (b) Secured Hedging Agreement, the counterparty to such Secured Hedging Agreement (other than the Borrower) or any agent acting on its behalf, and in the case of preceding <u>clauses (a)</u> and <u>(b)</u>, each of their successors and assigns in such capacities.

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

"**Other Taxes**" means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to <u>Section 3.07</u>).

"**Outstanding Amount**" means, (a) with respect to the Term Loans and Revolving Loans on any date of determination, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Term Loans and Revolving Loans (including any refinancing of outstanding unpaid drawings under Letters of Credit or Letter of Credit Issuances as a Borrowing under a Revolving Facility), as the case may be, occurring on such date; and (b) with respect to any L/C Obligations on any date, the aggregate outstanding principal amount thereof on such date after giving effect to any Letter of Credit Issuance occurring on such date and any other changes thereto as of such date, including as a result of any reimbursements of outstanding unpaid drawings under any Letters of Credit (including any refinancing of outstanding unpaid drawings under Letters of Credit or Letter of Credit Issuances as a Revolving Loan) or any reductions in the maximum amount available for drawing under Letters of Credit taking effect on such date.

"**Overnight Bank Funding Rate**" means, for any day, the rate comprised of both overnight federal funds and overnight eurocurrency borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate).

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"**Parent**" has the meaning set forth in the introductory paragraph of this Agreement.

"**Parity Liens**" shall mean Liens on any Collateral *pari passu* in lien priority with the Liens on such Collateral securing the Initial Term Loans, the Initial Revolving Loans or any other Parity Lien Debt.

"**Parity Lien Debt**" shall mean the (i) Initial Term Loans, (ii) Initial Revolving Loans, (iii) any other then outstanding Incremental Term Loans, Incremental Revolving Loans and Incremental Equivalent Debt, (iv) the Secured Hedging Agreements and (v) all other Indebtedness, in each case secured by Liens on any Collateral *pari passu* in lien priority with the Liens on such Collateral securing the Initial Term Loans and the Initial Revolving Loans (including, without limitation, Indebtedness arising under the TLB Credit Agreement).

"**Parent Company**" means, with respect to any Person, a direct or indirect parent company of such Person.

"**Participant**" has the meaning set forth in <u>Section 10.07(f)</u>.

"**Participant Register**" has the meaning set forth in <u>Section 10.07(f)</u>.

"**Payment**" has the meaning set forth in <u>Section 9.16</u>.

"**Payment in Full**" means (a) the payment in full of the Loans and all other Obligations (other than contingent reimbursement obligations) that are accrued and payable, (b) the termination and payment in full of the Secured Hedging Agreements, (c) the termination of the Commitments, and (d) each Letter of Credit has terminated or has been cancelled (unless such Letter of Credit has been Cash Collateralized or has had other arrangements made with respect to it, in each case, on terms and conditions reasonably satisfactory to the applicable Issuing Bank).

"**Payment Notice**" has the meaning set forth in <u>Section 9.16</u>.

"**Payment or Bankruptcy Default**" means an Event of Default under <u>Section 8.01(a)</u>, <u>(f)</u> or <u>(g)</u>.

"**PBGC**" means the Pension Benefit Guaranty Corporation.

"**Pension Plan**" means any "employee pension benefit plan" (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by any Loan Party or to which any Loan Party contributes or has an obligation to contribute or has any liability (including on account of any ERISA Affiliate), or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five (5) plan years.

"**Permit**" means, at any relevant time, any authorization, consent, certification, determination, license, approval, permit, registration, order, ruling, identification number, exemption, notice, declaration or similar right, undertaking, verification or other action of, to or by, or any filing, qualification or registration with, any Governmental Authority in connection with the development, construction, operation, maintenance and management of the Project.

"**Permitted Capital Expenditures**" is defined in the Security and Depositary Agreement.

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"**Permitted First Priority Refinancing Debt**" means any Permitted First Priority Refinancing Notes and any Permitted First Priority Refinancing Loans.

"**Permitted First Priority Refinancing Loans**" means any Credit Agreement Refinancing Indebtedness in the form of secured loans incurred by the Borrower in the form of one or more tranches of Loans under this Agreement; *provided* that (a) such Indebtedness is secured by the Collateral on a *pari passu* basis (but without regard to the control of remedies) with the Liens securing the Obligations and is not secured by any property or assets of the Borrower other than the Collateral,(b) such Indebtedness is not at any time guaranteed by any Person other than Persons that Guarantee the Obligations, and (c) it does not mature prior to the date that is the Maturity Date applicable to the Loans being refinanced or, with respect to Term Loans, have a Weighted Average Life to Maturity shorter than the Loans being refinanced, in either case at the time such Indebtedness is incurred or issued; *provided* that the foregoing requirements of this clause (c) shall not apply to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this clause (c) and such conversion or exchange is subject only to conditions customary for similar conversions or exchange.

"**Permitted First Priority Refinancing Notes**" means any Credit Agreement Refinancing Indebtedness in the form of secured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of senior secured notes (whether issued in a public offering, Rule 144A, private placement or otherwise); *provided* that (a) such Indebtedness is secured by the Collateral on a *pari passu* basis (but without regard to the control of remedies) with the Liens securing the Obligations and is not secured by any property or assets of the Borrower other than the Collateral, (b) such Indebtedness is not at any time guaranteed by any Person other than Persons that Guarantee the Obligations, (c) such Indebtedness does not mature prior to the date that is the Maturity Date with respect to the Loans being refinanced or, with respect to Term Loans, have a Weighted Average Life to Maturity shorter than the Weighted Average Life to Maturity of the Indebtedness being refinanced, in either case at the time such Indebtedness is incurred or issued; *provided* that the foregoing requirements of this clause (c) shall not apply to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this clause (c) and such conversion or exchange is subject only to conditions customary for similar conversions or exchange, (d) the security agreements relating to such Indebtedness are substantially the same as or more favorable to the Loan Parties than the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent) and (e) an Other Debt Representative acting on behalf of the holders of such Indebtedness shall have become party to each Intercreditor Agreement. Permitted First Priority Refinancing Notes will include any Registered Equivalent Notes issued in exchange therefor.

"**Permitted Holders**" means, at any time prior to the Conversion Date, any combination of the Sponsors and their Affiliates and at any time on or after the Conversion Date, any combination of the Sponsors, their Affiliates and Acceptable Owners.

"**Permitted Indebtedness**" has the meaning set forth in <u>Section 7.03</u>.

"**Permitted Incremental Uses**" means any of the following: (a) Expansion Capital Expenditures, (b) transaction costs, fees and expenses associated with the Incremental Facility or Expansion Capital Expenditures and (c) reimbursement of any equity used to fund previous Expansion Capital Expenditures beyond the capacity of the Project contemplated in accordance with the Closing Date Financial Model.

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"**Permitted Investments**" means any Investment permitted pursuant to <u>Section 7.02</u>.

"**Permitted Liens**" has the meaning set forth in <u>Section 7.01</u>.

"**Permitted Other Debt Conditions**" means, with respect to Permitted Second Priority Refinancing Debt and Permitted Unsecured Refinancing Debt, that such Indebtedness (a) does not mature or have scheduled amortization payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligations (except customary asset sale, event of loss, change of control or event of default provisions), in each case prior to the Latest Maturity Date at the time such Indebtedness is incurred, (b) is not at any time guaranteed by any Person other than Persons that Guarantee the Obligations and (c) to the extent secured, the security agreements relating to such Indebtedness are substantially the same as or more favorable to the Loan Parties than the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent).

"**Permitted Refinancing**" means, with respect to any Person, any modification, refinancing, refunding, renewal, replacement or extension of any Indebtedness of such Person; *provided* that (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed, replaced or extended except by an amount equal to unpaid accrued interest, premium and penalties thereon *plus* an amount equal to all premiums (including tender premiums, if any), accrued and unpaid interest (including post-petition interest), dividends, defeasance costs, underwriting discounts, fees, expenses, charges (including original issue discount, upfront fees or similar fees) and additional or contingent interest on obligations thereon or related thereto and by an amount equal to any existing commitments unutilized thereunder, (b) such modification, refinancing, refunding, renewal, replacement or extension has a final maturity date equal to or later than the final maturity date of, and, with respect to Term Loans, has a Weighted Average Life to Maturity that is equal to or greater than the Weighted Average Life to Maturity of, the Maturity Date with respect to the Indebtedness being refinanced; *provided* that the foregoing requirements of this <u>clause (b)</u> shall not apply to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this <u>clause (b)</u> and such conversion or exchange is subject only to conditions customary for similar conversions or exchange, (c) to the extent such Indebtedness refinances, refunds, renews or extends Indebtedness that is secured by the Collateral on a pari passu or junior basis with the Obligations or that is unsecured or subordinated, such Indebtedness is secured, unsecured or subordinated at least to the same extent (as determined by the Borrower) as the Indebtedness being refinanced, refunded, renewed or extended.

"**Permitted Second Priority Refinancing Debt**" means secured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of second lien (or other junior lien) secured notes or second lien (or other junior lien) secured loans; *provided* that (a) such Indebtedness is secured by the Collateral on a second priority (or other junior priority) basis to the Liens securing the Obligations and the obligations in respect of any Permitted First Priority Refinancing Debt and is not secured by any property or assets of the Borrower other than the Collateral, (b) such Indebtedness may be secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and the obligations in respect of any Permitted First Priority Refinancing Debt, notwithstanding any provision to the contrary contained in the definition of "Credit Agreement Refinancing Indebtedness," (c) an Other Debt Representative acting on behalf of the holders of such Indebtedness shall have become party to the provisions of the Junior Lien Intercreditor Agreement as a "Second Priority Representative" thereunder, and (d) such Indebtedness meets the Permitted Other Debt

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Conditions. Permitted Second Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

"**Permitted Subsidiary**" has the meaning set forth in the introductory paragraph hereto.

"**Permitted Subsidiary Account**" means shall mean that certain account of the Permitted Subsidiary identified in writing to the Administrative Agent and the Collateral Agent by the Permitted Subsidiary as the Permitted Subsidiary Account; *provided*, that the Permitted Subsidiary Account shall be subject to a Control Agreement within 60 days (or such longer period as the Administrative Agent may agree in writing) of the later of (x) the Closing Date and (y) the opening thereof; *provided further*, that (i) during the 60 day period following the Closing Date, the Permitted Subsidiary Account shall not contain more than $10 million (in the aggregate across all Local Accounts, the Permitted Subsidiary Account or the ROW Accounts that are not subject to a Control Agreement) unless and until such Control Agreement is in full force and effect and (ii) at all other times, the Permitted Subsidiary Account shall not contain any funds unless and until such Control Agreement is in full force and effect.

"**Permitted Tax Distribution**" has the meaning set forth in <u>Section 7.06(e)(iii)</u>.

"**Permitted Unsecured Refinancing Debt**" means unsecured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of senior unsecured notes or loans; *provided* that such Indebtedness meets the Permitted Other Debt Conditions.

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

"**Plan**" means any "employee benefit plan" (as such term is defined in Section 3(3) of ERISA) sponsored, maintained or contributed to by any Loan Party or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate.

"**Platform**" has the meaning set forth in <u>Section 6.02</u>.

"**Pledge Agreement**" means the Pledge Agreement, substantially in the form of <u>Exhibit E-2</u>, dated as of the Closing Date, among the Parent and the Collateral Agent.

"**Pledged Debt**" has the meaning set forth in the Security and Depositary Agreement.

"**Prime Rate**" means the rate of interest per annum quoted from time to time by *The Wall Street Journal* as the prime rate in effect, or if *The Wall Street Journal* ceases to quote such rate, the highest per annum interest rate published by the FRB in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the "bank prime loan" rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the Administrative Agent in its reasonable discretion) or any similar release by the FRB (as determined by the Administrative Agent in its reasonable discretion).

"**Pro Rata Share**" means, with respect to each Lender, at any time a fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which is the amount of the Commitments and, if applicable and without duplication, Loans of such Lender under the applicable Facility or Facilities at such time and the denominator of which is the amount of the Aggregate Commitments under the applicable Facility or Facilities and, if applicable and without duplication, Loans under the applicable Facility or Facilities at such time.

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"**Project**" means the proposed development, design, permitting, engineering, procurement, construction, completion, testing, operation and maintenance of an approximately 3.3 Bcf/d natural gas pipeline system linking from Colorado County to Jasper County in Texas and all expansions, compressor stations and ancillary facilities related thereto.

"**Project Accounts**" is defined in the Security and Depositary Agreement.

"**Project Costs**" means, without duplication, all costs, fees, Taxes and expenses incurred or payable by the Borrower in connection with the ownership, development, design, permitting, engineering, procurement, construction, completion and testing of the Project, including the costs incurred in connection with development, design, permitting, engineering, procurement, construction, testing, commissioning, equipping, assembly, inspection, start-up and financing of the Project (provided that Taxes shall only be included to the extent incurred prior to the Conversion Date), Financing Costs related to the loans and other extensions of credit under the Senior Secured Credit Facilities and any refinancing permitted thereunder (but excluding the incurrence of incremental loans under such Senior Secured Credit Facilities), Operating Expenses, cash security posted under any Material Project Document, expenses incurred in connection with initial working capital requirements, initial inventory and spares requirements, Debt Service and other fees (including advisors' fees) payable to the Secured Parties, advisors' fees, fees related to the provision of Acceptable Credit Support, amounts used for the initial funding of the Debt Service Reserve Accounts and the reimbursement of Drawstop Equity Contributions.

"**Project Document**" means any Material Project Document and any other contract or agreement entered into by the Borrower for (i) the design of the Project, (ii) the procurement of major components of the Project, (iii) the construction of the Project and associated facilities and (iv) the operation and/or maintenance of the Project and associated facilities.

"**Project Facilities**" means the Project and associated facilities or any portion thereof, in each case, on the Project Site.

"**Projections**" shall mean any projections and any forward-looking statements (including statements with respect to booked business) of the Borrower furnished to the Lenders or the Administrative Agent by or on behalf of the Borrower prior to the Closing Date.

"**Project Property Rights**" means collectively, all right, title and interest (including any leasehold or other estate) of any Loan Party in and to any and all parcels of real property, including, fee interests, leasehold interests, right-of-way agreements, easements, surface use agreements, servitudes, permits, licenses and other similar access agreements conferring upon such Loan Party the surface or subsurface land use rights.

"**Project Revenues**" means, without duplication, all revenues, interest, payments, cash and other proceeds from whatever source received by or on behalf of the Borrower arising from the ownership or operation of the Project, including payments made to the Borrower under any Project Document, liquidated damages payable as compensation for delay paid by the relevant counterparty under any Material Project Document, delay in start-up proceeds, business interruption insurance proceeds and proceeds of liability insurance (to the extent such liability insurance proceeds represent reimbursement of third party claims previously paid by the Borrower), and investment income on amounts in the Project Accounts (in each case to the extent deposited in or transferred to the Revenue Account) (it being acknowledged that asset sale proceeds, Loss Proceeds, proceeds of Indebtedness for borrowed money, any drawings under a letter of credit, any net payments received pursuant to the Interest Rate Hedge

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Agreements as determined in conformity with cash accounting principles, any performance-based liquidated damages payments to the Borrower under any Material Project Document and equity contributions to the Borrower shall not be Project Revenues).

"**Project Schedule**" means a schedule setting forth the expected schedule and milestones for the Project through ISD with respect to the Project delivered to the Lender on the Closing Date pursuant to <u>Section 4.01(n)</u>.

"**Project Site**" means, the tracts of land located in the State of Texas where the Project is, or is to be developed and including all easements, rights of ways, leases or similar real property rights required to develop, construct, operate and maintain the Project, including any processing station related thereto, whether now owned or hereafter acquired by the Borrower.

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

"**Public Lender**" has the meaning set forth in <u>Section 6.02</u>.

"**Qualified Equity Interests**" means any Equity Interests that are not Disqualified Equity Interests.

"**Qualified IPO**" means any transaction or series of transactions that results in any of the common Equity Interests of Parent, any Parent Company of the Parent or the Borrower being publicly traded on any United States national securities exchange or over-the-counter market, or any analogous exchange or any recognized securities exchange in Canada, the United Kingdom or any country of the European Union.

"**Qualified Operator**" means any of (a) WWM Operating, LLC, or any of its Affiliates or (b) any Person that (i) directly or through an Affiliate, has operated, for at least 2 years, one or more natural gas pipelines at least 100 miles long, in the aggregate, at least 24 inches in diameter, and with at least 10,000 hp of compression, capable of transporting, in the aggregate, at least 500 Bcf per year of natural gas, (ii) has an appropriate SCADA system and control rooms through which to manage the Project and (iii) employs sufficient employees (either directly or through the use of experienced contractors) to operate the Project in a manner consistent with good industry practices.

"**Quarterly Payment Date**" shall mean the last Business Day of the month immediately following the end of any fiscal quarter of the Borrower commencing with the first full fiscal quarter ending after the Closing Date.

"**Quarterly Retained Available Cash Amount**" means, with respect to any Excess Cash Flow Period, 100.0% of cash transferred from the Distribution Reserve Account or the Initial Debt Service Reserve Account to the Retained ECF Account under the Security and Depositary Agreement.

"**Recipient**" has the meaning set forth in <u>Section 9.16(a)</u>.

"**Reference Time**" with respect to any setting of the then-current Benchmark means (a) if such Benchmark is Term SOFR, 5:00 p.m. (New York City time) on the day that is two U.S. Government Securities Business Days preceding the date of such setting or (b) if such Benchmark is not Term SOFR, the time determined by the Administrative Agent in its reasonable discretion.

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"**Refinanced Debt**" has the meaning set forth in the definition of "Credit Agreement Refinancing Indebtedness".

"**Register**" has the meaning set forth in <u>Section 10.07(d)</u>.

"**Registered Equivalent Notes**" means, with respect to any notes originally issued in an offering pursuant to Rule 144A under the Securities Act or other private placement transaction under the Securities Act of 1933, substantially identical notes (having the same guarantees) issued in a dollar-for-dollar exchange therefor pursuant to an exchange offer registered with the SEC.

"**Release**" means any spilling, leaking, leaching, pumping, pouring, emitting, escaping, emptying, seeping, discharging, injecting, dumping, depositing or disposing into the Environment.

"**Relevant Governmental Body**" means the FRB or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the FRB or the Federal Reserve Bank of New York or any successor thereto.

"**Replacement Conditions**" means the Borrower can demonstrate a pro forma Debt Service Coverage Ratio of at least 1.30:1.00 for each quarter through the remaining tenor of the CP2 TSA assuming fully-amortizing term loan debt during such period; and the Borrower executes a replacement agreement in respect of the Blackfin Capacity Lease or CP2 TSA, as applicable, on terms not materially less favorable to the Borrower, taken as a whole, than the Blackfin Capacity Lease or CP2 TSA, as applicable.

"**Reportable Event**" means any of the events set forth in Section 4043(c) of ERISA or the regulations issued thereunder with respect to a Pension Plan, other than events for which the thirty (30) day notice period has been waived.

"**Required Class Lenders**" means, with respect to any Class on any date of determination, Lenders having more than fifty percent (50.0%) of the *sum* of (a) the Total Outstandings under such Class and (b) the aggregate unused Commitments under such Class; *provided* that the unused Commitments (if any) of, and the portion of the outstanding Loans under such Class held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of the Required Class Lenders; *provided, further*, that, to the same extent set forth in <u>Section 10.07(m)</u> with respect to determination of Required Lenders, the Loans of any Affiliated Lender shall in each case be excluded for purposes of making a determination of Required Class Lenders.

"**Required Debt to Equity Ratio**" means a Debt to Equity Ratio of no greater than eighty (80) to twenty (20).

"**Required Equity**" means one or more Equity Contributions made to the Borrower such that the Required Debt to Equity Ratio is satisfied. The following amounts shall be credited towards the Required Equity as of the Closing Date: (a) documented fees and expenses paid or payable, as set forth in the Construction Budget, (b) cash security posted under any Project Document, if any, *provided* that to the extent the beneficiary of any such cash security releases such cash security, the proceeds thereof shall be deposited directly into the Construction Account prior to the Conversion Date or the Revenue Account after the Conversion Date, and (c) capital investments made by any of the Sponsors or any Affiliate thereof and contributed or assigned to the Borrower.

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"**Required Facility Lenders**" mean, as of any date of determination, with respect to any Facility, Lenders having more than fifty percent (50.0%) of the *sum* of (a) the Total Outstandings (including Loans, Commitments and L/C Obligations (including participations in Letters of Credit outstanding)) under such Facility and (b) the aggregate unused Commitments under such Facility; *provided* that the unused Commitments (if any) of, and the portion of the Total Outstandings under such Facility held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of the Required Facility Lenders; *provided*, *further*, that, to the same extent set forth in <u>Section 10.07(m)</u> with respect to determination of Required Lenders, the Loans of any Affiliated Lender shall in each case be excluded for purposes of making a determination of Required Facility Lenders.

"**Required Lenders**" means, as of any date of determination, Lenders holding more than fifty percent (50.0%) of the aggregate principal amount of the Loans and Commitments and any Incremental Term Facility (including Loans, Commitments and L/C Obligations (including participations in Letters of Credit outstanding)); *provided* that Loans and Commitments held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders; provided, further, that, to the same extent set forth in <u>Section 10.07(m)</u> with respect to determination of Required Lenders, the Loans of any Affiliated Lender shall in each case be excluded for purposes of making a determination of Required Lenders.

"**Required Revolving Lenders**" means, as of any date of determination, with respect to any Revolving Facility, having Revolving Loans, Revolving Commitments and L/C Obligations (including participations in Letters of Credit outstanding) under such Revolving Facility that, taken together, represent more than 50.0% of the sum of all Revolving Loans, Revolving Commitments and L/C Obligations (including participations in Letters of Credit outstanding) under such Revolving Facility. The Revolving Loans, Revolving Commitments and L/C Obligations (including participations in Letters of Credit outstanding) of any Defaulting Lender shall be disregarded in determining Required Revolving Lenders at any time.

"**Required Term Lenders**" means, as of any date of determination, with respect to any Term Facility, at any time, Lenders having Term Loans and Term Loan Commitments outstanding under such Term Facility that, taken together, represent more than 50.0% of the sum of all Term Loans and Term Loan Commitments outstanding under such Term Facility. The Term Loans and Term Loan Commitments of any Defaulting Lender shall be disregarded in determining Required Term Lenders at any time and the Term Loans and Term Loan Commitments of any Non-Debt Fund Affiliate shall, for purposes of this definition, be subject to <u>Section 10.07(k)</u>.

"**Resolution Authority**" means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

"**Responsible Officer**" means the chief executive officer, president, vice president, chief financial officer, chief legal officer, treasurer or assistant treasurer or other similar officer, authorized signatory or a manager of a Loan Party and, as to any document delivered on the Closing Date or any document similar to any such document, any secretary, assistant secretary, manager or authorized signatory of such Loan Party and any officer, employee or authorized signatory of the applicable Loan Party where the signature is included on an incumbency certificate or similar certificate reasonably satisfactory to the Administrative Agent. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible

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Officer shall be conclusively presumed to have acted on behalf of such Loan Party. Unless expressly stated otherwise, a reference to a Responsible Officer shall mean a Responsible Officer of the Borrower.

"**Restricted Investment**" means any Investment other than a Permitted Investment.

"**Restricted Payment**" means (a) any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interest of the Borrower, (b) any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of any such Equity Interest, or on account of any return of capital to the Borrower's stockholders, partners or members (or the equivalent Persons thereof) and (c) any Restricted Investment.

"**Retained ECF Account**" is defined in the Security and Depositary Agreement.

"**Revenue Account**" is defined in the Security and Depositary Agreement.

"**Revolver Availability Period**" means the period from the Closing Date until the earliest to occur of (a) the Maturity Date of the Revolving Loans and (b) the date of rescission, termination or cancellation of the Revolving Commitments.

"**Revolving Commitment**" means, as to each Revolving Lender, its obligation to make Revolving Loans to the Borrower hereunder, expressed as an amount representing the maximum principal amount of Revolving Loans to be made by such Lender under this Agreement, as such commitment may be (a) reduced from time to time pursuant to <u>Section 2.04</u> and (b) reduced, increased or extended from time to time pursuant to (i) assignments by or to such Lender pursuant to an Assignment and Assumption or (ii) an Incremental Amendment.

"**Revolving Credit Exposure**" means, as to each Revolving Lender, the sum of the amount of the outstanding principal amount of such Revolving Lender's Revolving Loans and its Pro Rata Share or other applicable share provided for under this Agreement of the amount of the L/C Obligations outstanding at such time.

"**Revolving Facility**" means the Revolving Commitments and the Revolving Loans made hereunder.

"**Revolving Lender**" means a Lender with a Revolving Commitment or with outstanding Revolving Loans.

"**Revolving Loan**" means any Initial Revolving Loan or Incremental Revolving Loan, as the context may require.

"**Revolving Loan Increase**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**ROW Accounts**" means shall mean one or more local checking accounts of the Borrower with funds not to exceed the cap specified in clause (b) of the definition of "Local Account Maximum Balance" in the Security and Depositary Agreement; *provided*, that any such account established pursuant to this definition shall be subject to a Control Agreement within 60 days (or such longer period as the Administrative Agent may agree in writing) of the later of (x) the Closing Date and (y) the opening thereof; *provided, further,* that (i) during the 60 day period following the Closing Date, the ROW Accounts that are not subject to a Control Agreement during such 60 day period shall not contain more

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than $10 million (in the aggregate across all such Local Accounts, the Permitted Subsidiary Account or the ROW Accounts that are not subject to a Control Agreement) unless and until such Control Agreement is in full force and effect and (ii) at all other times, no such ROW Account shall contain any funds unless and until such Control Agreement is in full force and effect.

"**S&P**" means Standard & Poor's Ratings Financial Services, a subsidiary of S&P Global Inc., and any successor thereto.

"**Same Day Funds**" means immediately available funds.

"**Sanctioned Country**" means any country, region or territory that is the subject or target of comprehensive Sanctions (as of the date of this Agreement, Cuba, Iran, North Korea, and the Crimea, the so-called Donetsk People's Republic, and the so-called Luhansk People's Republic regions of Ukraine).

"**Sanctioned Person**" means any Person that is the subject or target of Sanctions, including any Person: (i) identified on any Sanctions-related list of designated parties maintained by the United States, the United Nations Security Council, the European Union, any European Union member state, or the United Kingdom; (ii) located, organized, domiciled, incorporated or ordinarily resident in, or the government of a Sanctioned Country; (iii) directly or indirectly fifty percent (50%) or more owned or, where relevant under Sanctions, controlled by, or acting for the benefit or on behalf of, one or more entities or individuals described in (i) and/or (ii) above. 

"**Sanctions**" means any and all economic and financial sanctions, or trade embargoes imposed, administered or enforced by the United States government (including without limitation, OFAC or the U.S. Department of State), the United Nations Security Council, the European Union, any European Union member state, or the United Kingdom. 

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

"**Secured Hedging Agreement**" means any Hedging Agreement entered into with respect to Parity Lien Debt that, in each case, the Borrower shall elect (in writing, to the Administrative Agent, Collateral Agent and Intercreditor Agent) to be secured by the Liens on the Collateral securing the Obligations.

"**Secured Hedging Obligations**" means the obligations of the Borrower or any other Loan Party to any Hedge Provider in respect of any Secured Hedging Agreement (whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising).

"**Secured Net Leverage Ratio**" means the ratio of (a) Indebtedness for borrowed money as reflected on the balance sheet of the Borrower that is secured by a lien on the Collateral, minus unrestricted cash and Cash Equivalents to (b) Adjusted EBITDA for the most recent four quarter period for which financial statements are available. Notwithstanding the foregoing, Adjusted EBITDA shall be calculated on an annualized basis using (i) for the first full fiscal quarter ending after the Closing Date, Adjusted EBITDA multiplied by 4, (ii) for the second full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first two full fiscal quarters ending after the Closing Date multiplied by 2 and (iii) for the third full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first three full fiscal quarters ending after the Closing Date multiplied by 4/3.

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"**Secured Parties**" means, collectively, the Administrative Agent, the Collateral Agent, the Lenders, the Hedge Providers, the Supplemental Agents and each co-agent or sub-agent appointed by the Administrative Agent or Collateral Agent from time to time pursuant to <u>Section 9.02</u>.

"**Securities Act**" means the Securities Act of 1933, as amended.

"**Security and Depositary Agreement**" means the Security and Depositary Agreement, substantially in the form of <u>Exhibit E-1</u>, dated as of the date hereof, by and among the Borrower, the Collateral Agent, the Intercreditor Agent and the Depositary.

"**Senior Secured Credit Facilities**" means (i) the Facilities provided under this Agreement (including, for the avoidance of doubt, any Incremental Loans) and (ii) the facilities provided under the TLB Credit Agreement (including, for the avoidance of doubt, any incremental loans, extended loans or refinancing series thereunder).

"**Senior Secured Credit Facility Loans**" means any loans provided pursuant to the Senior Secured Credit Facilities.

"**SMBC**" means Sumitomo Mitsui Banking Corporation.

"**SOFR**" means a rate per annum equal to the secured overnight financing rate as administered by the SOFR Administrator.

"**SOFR Administrator**" means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).

"**Solvent**" and "**Solvency**" mean, after giving effect to the consummation of the Transactions, (i) the sum of the debts and liabilities (including liabilities that are contingent, subordinated or otherwise) of the Loan Parties, on a consolidated basis, does not exceed the present fair saleable value of the present assets of the Loan Parties, on a consolidated basis; (ii) the present fair saleable value of the property of the Loan Parties, on a consolidated basis, is greater than the amount that will be required to pay the probable liability, on a consolidated basis, of the debts and other liabilities of the Loan Parties, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; (iii) the capital of the Loan Parties, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof; and (iv) the Loan Parties, on a consolidated basis, have not incurred debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise) or absolute.

"**Specified Equity Contribution**" means any cash contribution to the common equity of the Borrower and/or any purchase or investment in an Equity Interest of the Borrower other than Disqualified Equity Interests.

"**Specified Transaction**" means any Investment, Disposition, incurrence or repayment of Indebtedness, Restricted Payment or other transaction in respect of which the terms of this Agreement require any test to be calculated on a "*pro forma* basis" or after giving "*pro forma* effect".

"**Sponsor"** means Venture Global LNG, Inc., WhiteWater Development, LLC and, in each case (whether individually or as a group), Affiliates of either of the foregoing (but excluding any operating portfolio companies of the foregoing).

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"**Subordinated Debt**" means Indebtedness of any Loan Party that is subordinated to the obligations of such Loan Party under this Agreement pursuant to a subordination agreement in form and substance reasonably satisfactory to the Administrative Agent and (b) matures at least ninety (90) days after the latest maturity date of any Indebtedness outstanding pursuant to the Senior Secured Credit Facilities at the time such Subordinated Debt is incurred.

"**Subsidiary**" means, with respect to any specified Person, (a) any corporation, association or other business entity (other than a partnership or limited liability company) of which more than 50% of the total voting power of its Voting Stock 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); and (b) any partnership (whether general or limited) or limited liability company (i) the sole general partner or member of which is such Person or a Subsidiary of such Person, or (ii) if there is more than a single general partner or member, either (x) the only managing general partners or managing members of which are such Person or one or more Subsidiaries of such Person (or any combination thereof) or (y) such Person owns or controls, directly or indirectly, a majority of the outstanding general partner interests, member interests or other Voting Stock of such partnership or limited liability company, respectively, plus in the case of both <u>subclauses (x)</u> and <u>(y)</u> of this <u>clause (ii)</u> it consolidates the financial results of such partnership or limited liability company with its own financial results in accordance with GAAP.

"**Supplemental Agent**" has the meaning set forth in <u>Section 9.13(a)</u> and "**Supplemental Agents**" shall have the corresponding meaning.

"**Surveys**" has the meaning set forth in the definition of "Collateral and Guarantee Requirement".

"**Swap Obligation**" means, with respect to any Person, any obligation of such Person to pay or perform under any Hedging Agreement.

"**Swap Termination Value**" means, in respect of any one or more Hedging Agreements, after taking into account the effect of any legally enforceable netting agreement relating to such Hedging Agreements, (a) for any date on or after the date such Hedging Agreements have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Hedging Agreements, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Hedging Agreements (which may include a Lender or any Affiliate of a Lender).

"**Taxes**" has the meaning set forth in <u>Section 3.01(a)</u>.

"**Termination Prepayment Amount**" has the meaning set forth in <u>Section 2.03(b)(ii)(C)</u>.

"**Term Facility**" means the Term Loan Commitments and the Term Loans made hereunder.

"**Term Commitment**" means, as to each Term Lender, its obligation to make Term Loans to the Borrower hereunder, expressed as an amount representing the maximum principal amount of Term Loans to be made by such Lender under this Agreement, as such commitment may be (a) reduced from time to time pursuant to <u>Section 2.04</u> and (b) reduced, increased or extended from time to time pursuant to (i) assignments by or to such Lender pursuant to an Assignment and Assumption or (ii) an Incremental Amendment.

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"**Term Lender"** means a Lender with a Term Loan Commitment or with outstanding Term Loans.

"**Term Loan Increase**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**Term Loans**" means any Initial Term Loan or Incremental Term Loan, as the context may require.

"**Term SOFR**" means, for any Interest Period for a Term SOFR Loan, the greater of (a) the Term SOFR Reference Rate (rounded upward to the next one-sixteenth (1/16th) of one percent (0.0625%), if necessary) for a tenor comparable to the applicable Interest Period on the day (the "**Term SOFR Determination Day**") that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator and (b) the Floor; *provided*, *however*, that if as of 5:00 p.m. (New York City time) on any Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Term SOFR Determination Day.

"**Term SOFR Administrator**" means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion).

"**Term SOFR Determination Day**" has the meaning assigned to it under the definition of Term SOFR.

"**Term SOFR Loan**" means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to <u>clause (c)</u> of the definition of "Base Rate".

"**Term SOFR Reference Rate**" means the rate per annum determined by the Administrative Agent as the forward-looking term rate based on SOFR.

"**Test Period**" means for any date of determination under this Agreement, the latest four consecutive fiscal quarters for which financial statements (i) have been delivered to the Administrative Agent on or prior to the Closing Date and/or for which financial statements are required to be delivered pursuant to <u>Section 6.01</u>, as applicable (or, before the first delivery of financials pursuant to <u>Section 6.01</u>, the most recent period of four fiscal quarters at the end of which financial statements are available) or (ii) at the option of the Borrower, are internally available (as determined in good faith by the Borrower).

"**Threshold Amount**" means the greater of (x) $75,000,000 and (y) 37.5% of LTM Adjusted EBITDA.

"**TLA Availability Period**" means the period from the Closing Date until the earliest to occur of (a) September 29, 2027, (b) the Conversion Date, (c) the date that the Term Loans are drawn in full and (d) the date of rescission, termination or cancellation of the Term Commitments.

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"**TLB Credit Agreement**" means that certain Credit Agreement, dated as of the Closing Date, by and among the Borrower, the Parent, the Permitted Subsidiary, MUFG Bank, Ltd., as the administrative agent, the Collateral Agent and the other persons party thereto from time to time.

"**Total Loss**" means a total loss or "constructive total loss", destruction or damage with respect to the property of the Borrower affecting all or substantially all of the Project.

"**Total Net Leverage Ratio**" means the ratio of (a) Indebtedness for borrowed money as reflected on the balance sheet of the Borrower, minus unrestricted cash and Cash Equivalents to (b) Adjusted EBITDA for the most recent four quarter period for which financial statements are available. Notwithstanding the foregoing, Adjusted EBITDA shall be calculated on an annualized basis using (i) for the first full fiscal quarter ending after the Closing Date, Adjusted EBITDA multiplied by 4, (ii) for the second full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first two full fiscal quarters ending after the Closing Date multiplied by 2 and (iii) for the third full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first three full fiscal quarters ending after the Closing Date multiplied by 4/3.

"**Total Outstandings**" means, with respect to any Class or Facility, or all Facilities taken together, as applicable, the aggregate Outstanding Amount of all Loans.

"**Transaction Expenses**" means any fees or expenses incurred or paid by the Sponsors, the Parent or the Borrower in connection with the Transactions (including expenses in connection with hedging transactions related to the Obligations, any OID or upfront fees, employee retention payments and deferred compensation expenses (regardless of when paid)), this Agreement and the other Loan Documents and the transactions contemplated hereby and thereby.

"**Transactions**" means, collectively, (a) the funding of the Initial Term Loans and the Initial Revolving Loans and the execution and delivery of the Loan Documents, (b) the funding of the loans under the TLB Credit Agreement and the execution and delivery of the loan documents described therein, (c) the establishment and funding of the Initial Debt Service Reserve Account, including through the issuance of one or more DSR L/Cs, (d) the consummation of certain Restricted Payments as set forth herein and (e) the payment of Transaction Expenses.

"**Transporte**r" means Matterhorn Express Pipeline, LLC.

"**Treasury Regulations**" means the regulations, including temporary and proposed regulations, promulgated by the United States Department of Treasury with respect to the Code, as such regulations are amended from time to time, or corresponding provisions of future regulations.

"**True-Up Distribution**" means a Restricted Payment in a maximum amount such that, after giving effect thereto, the Required Debt to Equity Ratio is satisfied.

"**TSA**" means collectively or individually, as the context may require, each of the following: (a) the CP2 TSA and (b) the Additional TSAs.

"**Type**" means, with respect to a Loan, its character as a Base Rate Loan or a Term SOFR Loan.

"**UK Financial Institution**" means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from

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time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

"**UK Resolution Authority**" means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

"**Unadjusted Benchmark Replacement**" means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

"**Uniform Commercial Code**" or "**UCC**" means the Uniform Commercial Code as the same may from time to time be in effect in the State of New York or the Uniform Commercial Code (or similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item or items of Collateral.

"**United States**" or "**U.S.**" means the United States of America.

"**United States Tax Compliance Certificate**" means a certificate substantially in the form of <u>Exhibits H-1</u>, <u>H-2</u>, <u>H-3</u> and <u>H-4</u> hereto, as applicable.

"**Unreimbursed Amounts**" has the meaning set forth in <u>Section 2.19(c)(i)</u>).

"**USA PATRIOT Act**" means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended from time to time.

"**U.S. Government Securities Business Day**" means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

"**U.S. Person**" means any Person that is a "United States person" (as defined in Section 7701(a)(30) of the Code).

"**Voluntary Prepayment Amount**" has the meaning set forth in <u>Section 2.12(d)(iii)(B)</u>.

"**Voting Stock**" of any specified Person as of any date means the Equity Interests of such Person that is at the time entitled to vote in the election of the board of directors of such Person.

"**Weighted Average Life to Maturity**" means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (a) the *sum* of the products obtained by *multiplying* (i) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (ii) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the then outstanding principal amount of such Indebtedness.

"**wholly owned**" means, with respect to a Subsidiary of a Person, a Subsidiary of such Person all of the outstanding Equity Interests of which (other than (x) director's qualifying shares and (y) shares issued to foreign nationals to the extent required by applicable Law) are owned by such Person and/or by one or more wholly owned Subsidiaries of such Person.

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"**Withholding Agent**" means the Borrower, any Guarantor, the Parent and the Administrative Agent.

"**Write-Down and Conversion Powers**" means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

"**Yield Differential**" has the meaning set forth in <u>Section 2.12(e)(iii)</u>.

Section 1.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Interpretive Provisions</u>. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The words "herein," "hereto," "hereof" and "hereunder" and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Article, Section, Exhibit and Schedule references are to the Loan Document in which such reference appears.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The term "including" is by way of example and not limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The term "documents" includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements and other writings, however evidenced, whether in physical or electronic form.

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

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

Section 1.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Accounting Terms</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with GAAP, except as otherwise specifically prescribed herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary herein, for purposes of determining compliance with any test or covenant contained in this Agreement with respect to any period during which any Specified Transaction occurs, the Debt Service Coverage Ratio, the First Lien Net Leverage Ratio, the

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Secured Net Leverage Ratio, and the Total Net Leverage Ratio shall be calculated with respect to such period and such Specified Transaction on a *pro forma* basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;References to "fiscal quarter" and "fiscal year" are to the fiscal quarter and fiscal year of the Borrower.

Section 1.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Rounding</u>. Any financial ratios required to be maintained by the Borrower pursuant to this Agreement (or required to be satisfied in order for a specific action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding up if there is no nearest number).

Section 1.05&nbsp;&nbsp;&nbsp;&nbsp;<u>References to Agreements, Laws, Etc.</u> Unless otherwise expressly provided herein, (a) references to Organization Documents, agreements (including the Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements and other modifications are permitted by the Loan Documents; and (b) references to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Law.

Section 1.06&nbsp;&nbsp;&nbsp;&nbsp; <u>Times of Day</u>. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable).

Section 1.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Timing of Payment or Performance</u>. When the payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of "Interest Period") or performance shall extend to the immediately succeeding Business Day.

Section 1.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Negative Covenant Compliance</u>(a)&nbsp;&nbsp;&nbsp;&nbsp;. For purposes of determining whether the any Loan Party complies with any exception to <u>Article VII</u> (other than the Financial Covenant) where compliance with any such exception is based on a financial ratio or metric being satisfied as of a particular point in time, it is understood that (a) compliance shall be measured at the time when the relevant event is undertaken, as such financial ratios and metrics are intended to be "incurrence" tests and not "maintenance" tests and (b) correspondingly, any such ratio and metric shall only prohibit the Borrower from creating, incurring, assuming, suffering to exist or making, as the case may be, any new, for example, Liens, Indebtedness or Investments, but shall not result in any previously permitted, for example, Liens, Indebtedness or Investments ceasing to be permitted hereunder. With respect to determining whether the Borrower complies with any negative covenant in <u>Article VII</u> (other than the Financial Covenant), to the extent that any obligation or transaction could be attributable to more than one exception to any such negative covenant, the Borrower may elect to categorize all or any portion of such obligation or transaction to any one or more exceptions to such negative covenant that permit such obligation or transaction. Notwithstanding anything to the contrary herein, (i) if any incurrence-based financial ratios or tests (including, without limitation, the Debt Service Coverage Ratio, the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio or the Total Net Leverage Ratio) ("**Financial Incurrence Tests**") would be satisfied in any subsequent fiscal quarter following the utilization of either (x) fixed baskets, exceptions or thresholds (including any related builder or grower component) that do not require compliance with a financial ratio or test ("**Fixed Amounts**") or (y) baskets, exceptions and thresholds that require compliance with a financial ratio or test (including, without limitation, the Debt

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Service Coverage Ratio, the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio or the Total Net Leverage Ratio) (any such amounts, "**Incurrence Based Amounts**"), then the reclassification of actions or transactions (or portions thereof), including the reclassification of utilization of any Fixed Amounts as incurred under any available Incurrence Based Amounts, shall be deemed to have automatically occurred even if not elected by the Borrower (unless the Borrower otherwise notifies the Administrative Agent) and (ii) in calculating any Incurrence Based Amounts (including any Financial Incurrence Tests), any (x) DSR L/Cs (or any revolving facility), (y) Indebtedness concurrently incurred to fund original issue discount and/or upfront fees and (z) amounts incurred, or transactions entered into or consummated, in reliance on a Fixed Amount in a concurrent transaction, a single transaction or a series of related transactions with the amount incurred, or transaction entered into or consummated, under the applicable Incurrence Based Amount, in each case of the foregoing <u>clauses (x)</u>, <u>(y)</u> and <u>(z)</u>, shall not be given effect in calculating the applicable Incurrence Based Amount (but giving *pro forma* effect to all applicable and related transactions (including the use of proceeds of all Indebtedness to be incurred and any repayments, repurchases and redemptions of Indebtedness) and all other *pro forma* adjustments).

Section 1.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Rates.</u> (a) The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, (a) the continuation of, administration of, submission of, calculation of or any other matter related to Base Rate, the Term SOFR Reference Rate or Term SOFR, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, Base Rate, the Term SOFR Reference Rate, Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or composition of any Benchmark Replacement Conforming Changes. The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of Base Rate, the Term SOFR Reference Rate, Term SOFR, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain Base Rate, the Term SOFR Reference Rate, Term SOFR or any other Benchmark, or any component definition thereof or rates referred to in the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.

Section 1.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Divisions</u>. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction's laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

**ARTICLE II <br>THE COMMITMENTS AND BORROWINGS**

Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;<u>The Commitments and Borrowings</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>The Initial Term Loans</u>.&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make to the Borrower from time to time during the TLA Availability Period (but not more than twice in any month) term loans denominated in Dollars in an aggregate amount not to exceed the amount of such Term Lender's Initial Term Commitment. Amounts borrowed under this <u>Section 2.01(a)</u> and repaid or prepaid may not be reborrowed. Initial Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>The Initial Revolving Loans</u>. Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make to the Borrower from time to time during the Revolver Availability Period revolving loans denominated in Dollars in an aggregate amount not to exceed the amount of such Revolving Lender's Initial Revolving Commitment. Amounts borrowed under this <u>Section 2.01(b)</u> may be reborrowed. Initial Revolving Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein.

Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Borrowings, Conversions and Continuations of Loans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Term SOFR Loans shall be made upon the Borrower's irrevocable notice on behalf of the Borrower to the Administrative Agent, which may be given by telephone (confirmed by a written Committed Loan Notice). Each such notice must be received by the Administrative Agent not later than (i) 12:00 noon New York City time three (3) Business Days prior to the requested date of any Borrowing or continuation of Term SOFR Loans or any conversion of Base Rate Loans to Term SOFR Loans, and (ii) 11:00 a.m. New York City time on the requested date of any Borrowing of Base Rate Loans; *provided* that the notice referred to in clause (i) above may be delivered no later than one (1) Business Day prior to the Closing Date in the case of any Initial Term Borrowing or Initial Revolving Borrowing on the Closing Date; provided further that that no such notice shall be required for any deemed request of a Base Rate Borrowing to finance the reimbursement of an L/C Disbursement as provided in <u>Section 2.19(c)</u>. Each telephonic notice by the Borrower pursuant to this <u>Section 2.02(a)</u> must be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Term Loans consisting of Term SOFR Loans shall be in a minimum principal amount of $10,000,000, or a whole multiple of $100,000, in excess thereof. Each Borrowing of, conversion to or continuation of Revolving Loans shall be in a minimum principal amount of $1,000,000, or a whole multiple of $100,000, in excess thereof. Notwithstanding anything contained herein to the contrary in this <u>Section 2.02(a)</u>, any Borrowing may be in an aggregate amount that is equal to the entire remaining balance of the Term Loans, the unused balance of the total Revolving Commitments or that is required to finance the reimbursement of an L/C Disbursement as contemplated by <u>Section 2.19(c)</u>. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Term SOFR Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and (vi) whether such Borrowing is of a Term Loan or a Revolving Loan. If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, converted to, or continued as Term SOFR Loans with an Interest Period of one (1) month. Any such automatic conversion to, or continuation as, Term SOFR Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Term SOFR Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Term SOFR Loans in any such Committed Loan Notice,

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but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Pro Rata Share or other applicable share provided for under this Agreement of the applicable Class of Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall promptly notify each Lender of the details of any automatic conversion to Term SOFR Loans or continuation described in <u>Section 2.02(a)</u>. In the case of each Borrowing, each Appropriate Lender shall make the amount of its Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent's Office not later than 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice. Except as otherwise provided in the following sentence, the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent by wire transfer of such funds in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower.

Except as otherwise provided herein, a Term SOFR Loan may be continued or converted only on the last day of an Interest Period for such Term SOFR Loan unless the Borrower pays the amount due, if any, under <u>Section 3.05</u> in connection therewith. During the existence of a Payment or Bankruptcy Default, the Administrative Agent shall, at the direction of the Required Lenders, require that no Loans may be converted to or continued as Term SOFR Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period for Term SOFR Loans upon determination of such interest rate. The determination of Term SOFR by the Administrative Agent shall be conclusive in the absence of manifest error. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in the Prime Rate used in determining the Base Rate promptly following the announcement of such change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;After giving effect to all Borrowings, all conversions of Loans, from one Type to the other, and all continuations of Loans as the same Type, there shall not be more than ten (10) Interest Periods in effect for the Initial Term Loans and the Initial Revolving Loans (taken as a whole); *provided* that after the establishment of any new Class of Loans pursuant to an Incremental Amendment, the number of Interest Periods otherwise permitted by this <u>Section 2.02(d)</u> shall increase by three (3) Interest Periods for each applicable Class so established.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The failure of any Lender to make the Loan to be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Loan on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Loan to be made by such other Lender on the date of any Borrowing or make any other payment obligation under the Loan Documents.

Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Prepayments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Voluntary.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Borrower may, upon written notice to the Administrative Agent, at any time or from time to time voluntarily prepay Loans of any Class in whole or in part without premium or penalty; *provided* that (1) such notice must be received by the Administrative Agent not later than 1:00 p.m. New York City time (A) three (3) Business Days prior to any date of prepayment of Term SOFR Loans and (B) one (1) Business Day prior to any on the date of prepayment of Base

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Rate Loans; (2) any prepayment of Term Loans consisting of Term SOFR Loans shall be in a minimum principal amount of $1,000,000, or a whole multiple of $1,000,000 in excess thereof; (3) any prepayment of Term Loans consisting of Base Rate Loans shall be in a minimum principal amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof; (4) any prepayment of Revolving Loans consisting of Term SOFR Loans shall be in a minimum principal amount of $1,000,000, or a whole multiple of $1,000,000 in excess thereof; (3) any prepayment of Revolving Loans consisting of Base Rate Loans shall be in a minimum principal amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans and the order of Borrowing(s) to be prepaid. The Administrative Agent will promptly notify each Appropriate Lender of its receipt of each such notice, and of the amount of such Lender's Pro Rata Share or other applicable share provided for under this Agreement of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and (subject to <u>Section 2.03(a)(ii)</u>) the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Term SOFR Loan shall be accompanied by all accrued interest thereon to such date, together with any additional amounts required pursuant to <u>Section 3.05</u>. In the case of each prepayment of the Loans pursuant to this <u>Section 2.03(a)</u>, the Borrower may in its sole discretion select the Borrowing or Borrowings (and the order of maturity of principal payments) to be repaid, and such payment shall be paid to the Appropriate Lenders in accordance with their respective Pro Rata Shares or other applicable share as provided for under this Agreement. A notice of prepayment may state that such notice is conditioned upon the effectiveness of other credit facilities, indentures or similar agreements or other transactions, in which case such notice may be delayed until such time as such condition is satisfied or revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied (or waived by the Borrower in its sole discretion) and/or rescinded at any time by the Borrower if the Borrower determines in its sole discretion that any or all of such conditions will not be satisfied (or waived).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the payment of any amounts owing pursuant to <u>Section 3.05</u>, upon request of the Borrower, the Borrower may rescind any notice of prepayment under <u>Section 2.03(a)(i)</u> if such prepayment would have resulted from a refinancing of all or a portion of the applicable Facility, which refinancing shall not be consummated or shall otherwise be delayed. Each prepayment of any Class of Term Loans pursuant to this <u>Section 2.03(a)</u> shall be applied in an order of priority as directed by the Borrower (which may be applied to any specific Class, tranche or Facility of Indebtedness) and, absent such direction, shall be applied in direct order of maturity to repayments thereof required pursuant to <u>Section 2.05(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Mandatory*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;On, or no later than the date that is ten Business Days after, each Quarterly Payment Date, commencing with the first Quarterly Payment Date to occur after the Conversion Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;[Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall prepay an aggregate principal amount of Term Loans in an amount equal to one hundred percent (100%) of any amount that has been on deposit in a Distribution Reserve Account for a period of six (6) full consecutive fiscal

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quarters following the Conversion Date if the Borrower has failed to declare or make any Restricted Payment during such time due to the inability to satisfy the Distribution Conditions (the "**Distribution Reserve Prepayment Amount**"); *provided*, that if at the time that any such prepayment would be required, the Borrower is required to prepay or offer to repurchase any other Parity Lien Debt with the Distribution Reserve Prepayment Amount, then the Borrower may apply the Distribution Reserve Prepayment Amount on a *pro rata* basis to the Term Loans and other Parity Lien Debt (determined on the basis of the aggregate outstanding principal amount of the Term Loans and other Parity Lien Debt at such time); *provided*, further, that (1) the portion of the Distribution Reserve Prepayment Amount allocated to other Parity Lien Debt shall not exceed the amount of the Distribution Reserve Prepayment Amount required to be allocated to other Parity Lien Debt pursuant to the terms thereof, the remaining amount, if any, of the Distribution Reserve Prepayment Amount shall be allocated to the Term Loans in accordance with the terms hereof, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this <u>Section 2.03(b)(i)(B)</u> shall be reduced accordingly and (2) to the extent the holders of the other Parity Lien Debt decline to have such indebtedness repurchased or prepaid, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of such rejection) on a *pro rata* basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and such other Parity Lien Debt at such time) prepay the Term Loans and any other Parity Lien Debt that requires the same, in accordance with the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Within ten (10) Business Days:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;after the date of the realization or receipt by the Borrower of Net Proceeds of Dispositions pursuant to <u>Section 7.05(a)</u> or <u>7.05(g)</u> or from any Casualty Event of the Borrower, in each case in excess of $50,000,000, the Borrower shall apply such proceeds in accordance with Section 5.07 of the Security and Depositary Agreement and, if such section requires a prepayment, prepay such Net Proceeds to the prepayment of Term Loans in accordance with Section 5.07 of the Security and Depositary Agreement; *provided*, that if at the time that any such prepayment would be required, the Borrower is required to offer to repurchase any other Parity Lien Debt, then the Borrower may apply such Net Proceeds on a *pro rata* basis to the Term Loans and other Parity Lien Debt (determined on the basis of the aggregate outstanding principal amount of the Term Loans and other Parity Lien Debt at such time); *provided*, further, that (A) the portion of such Net Proceeds allocated to other Parity Lien Debt, as applicable, shall not exceed the amount of such Net Proceeds required to be allocated to other Parity Lien Debt, pursuant to the terms thereof, the remaining amount, if any, of such Net Proceeds shall be allocated to the Term Loans in accordance with the terms hereof, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this <u>Section 2.03(b)(ii)(A)</u> shall be reduced accordingly and (B) to the extent the holders of other Parity Lien Debt decline to have such indebtedness repurchased or prepaid, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of such rejection) on a *pro rata* basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and such other Parity Lien Debt at such time) prepay the Term Loans and any other Parity Lien Debt that requires the same, in accordance with the terms hereof;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;after the date of receipt by the Borrower of Net Proceeds received from the incurrence or issuance of any Indebtedness after the Closing Date (other than Permitted Indebtedness), the Borrower shall cause to prepaid an aggregate principal amount of Term Loans and Revolving Loans in an amount equal to one hundred percent (100.0%) of such Net Proceeds; *provided*, that if at the time that any such prepayment would be required, the Borrower is required to offer to repurchase any other Parity Lien Debt, then the Borrower may apply such Net Proceeds on a *pro rata* basis to the Term Loans, the Revolving Loans and other Parity Lien Debt (determined on the basis of the aggregate outstanding principal amount of the Term Loans, the Revolving Loans and other Parity Lien Debt at such time); *provided*, further, that (A) the portion of such Net Proceeds allocated to other Parity Lien Debt, as applicable, shall not exceed the amount of such Net Proceeds required to be allocated to other Parity Lien Debt, pursuant to the terms thereof, the remaining amount, if any, of such Net Proceeds shall be allocated to the Term Loans and the Revolving Loans in accordance with the terms hereof, and the amount of prepayment of the Term Loans and the Revolving Loans that would have otherwise been required pursuant to this <u>Section 2.03(b)(ii)(B)</u> shall be reduced accordingly and (B) to the extent the holders of other Parity Lien Debt decline to have such indebtedness repurchased or prepaid, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of such rejection) on a *pro rata* basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and such other Parity Lien Debt at such time) prepay the Term Loans, the Revolving Loans and any other Parity Lien Debt that requires the same, in accordance with the terms hereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;after the date of receipt of any amounts received as termination payments or performance liquidated damages under any Material Project Document in excess of $50,000,000 in the aggregate (such amount in excess of such threshold, the "**Termination Prepayment Amount**"), the Borrower shall prepay, an aggregate principal amount of Term Loans in an amount equal to one hundred percent (100.0%) of the Termination Prepayment Amount received; *provided,* that the Borrower shall not be required to prepay the Term Loans pursuant to this <u>Section 2.03(b)(ii)(C)</u> to the extent that the Borrower applies the same to (A) offset any liquidated damages owed by the Borrower to any Construction Contractor under other Construction Contracts or (B) reinvest in assets which are necessary or useful for the Project (*provided*, that such construction or repair is reasonably related to cure the events or circumstances that gave rise to the payment of such liquidated damages), in each case pursuant to a transaction not prohibited hereunder, and the proceeds are so retained are reinvested, or committed to be reinvested pursuant to a binding agreement, within eighteen (18) months of the occurrence of receipt of such amounts (and if so committed to be reinvested, within six month thereof), and any non-reinvested portion of such amounts in excess of $50,000,000 in the aggregate shall be promptly applied to prepayments as contemplated in this <u>Section 2.03(b)(ii)(C)</u>; *provided*, that if at the time that any such prepayment would be required, the Borrower is required to offer to repurchase any other Parity Lien Debt with the Termination Prepayment Amount, then the Borrower may apply the Termination Prepayment Amount on a *pro rata* basis to the Term Loans and other Parity Lien Debt (determined on the basis of the aggregate outstanding principal amount of the Term Loans and other Parity Lien Debt at such time); *provided*, further, that (A) the portion of the Termination Prepayment Amount allocated to other Parity Lien Debt shall not exceed the amount of the Termination Prepayment Amount required to be allocated to other

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Parity Lien Debt pursuant to the terms thereof, the remaining amount, if any, of the Termination Prepayment Amount shall be allocated to the Term Loans in accordance with the terms hereof, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this <u>Section 2.03(b)(ii)(C)</u> shall be reduced accordingly and (B) to the extent the holders of other Parity Lien Debt decline to have such indebtedness repurchased or prepaid, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of such rejection) on a *pro rata* basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and such other Parity Lien Debt at such time) prepay the Term Loans and any other Parity Lien Debt that requires the same, in accordance with the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;In the event that the total Revolving Credit Exposure of the Revolving Lenders exceeds the total Revolving Commitments of the Revolving Lenders, the Borrower shall eliminate such excess by prepaying the Revolving Loans and then Cash Collateralizing any L/C Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Except with respect to Loans incurred in connection with any Incremental Amendment (which may be prepaid on a less than *pro rata* basis in accordance with its terms) and subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement), (A) each prepayment of Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, the Revolving Loans) pursuant to this <u>Section 2.03(b)</u> (other than <u>Section 2.03(b)(iii)</u>) shall be applied as between series, Classes or tranches of Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, Revolving Loans) as directed by the Borrower (*provided* that (1) any prepayment of Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, Revolving Loans) with the Net Proceeds of Credit Agreement Refinancing Indebtedness shall be applied solely to each applicable Class of Refinanced Debt and (2) subject to clause (1), mandatory prepayments may not be directed to a series, Class or tranche of Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, Revolving Loans) with a later maturity date without at least a pro rata repayment of each series, Class or tranche of Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, the Revolving Loans) with an earlier maturity date); (B) with respect to each Class of Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, Revolving Loans), each prepayment pursuant to <u>clauses (i)</u> and (<u>ii)</u> of this <u>Section 2.03(b)</u> shall be applied to the scheduled installments of principal thereof following the date of prepayment pursuant to <u>Section 2.03(a)</u> as directed by the Borrower (without premium or penalty) and, absent such direction, shall be applied in direct order of maturity and (C) each such prepayment shall be paid to the Lenders in accordance with their respective Pro Rata Shares of such prepayment. Any prepayment of the Revolving Loans pursuant to <u>Section 2.03(b)(ii)(B)</u> shall be accompanied by a corresponding permanent reduction to the Revolving Commitments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall notify the Administrative Agent in <br>writing of any mandatory prepayment of Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, Revolving Loans) required to be made pursuant to <u>clauses (i)</u> and <u>(ii)</u> of this <u>Section 2.03(b)</u> at least five (5) Business Days prior to the date of such prepayment (or such shorter time as the Administrative Agent may agree). Each such notice shall specify the date of such prepayment and provide a reasonably detailed calculation of the amount of such prepayment. The Administrative Agent will promptly notify each Appropriate Lender of the contents of the Borrower's prepayment notice and of such Appropriate Lender's Pro Rata Share of the prepayment.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;*Funding Losses, Etc.* All prepayments under this <u>Section 2.03</u> shall be made together with, in the case of any such prepayment of a Term SOFR Loan on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Term SOFR Loan pursuant to <u>Section 3.05</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;*[Reserved]*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;Subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement), in connection with any mandatory prepayments by the Borrower of the Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, the Revolving Loans) pursuant to this <u>Section 2.03(b)</u>, such prepayments shall be applied on a *pro rata* basis to the then outstanding Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, Revolving Loans) of the applicable Class or Classes being prepaid irrespective of whether such outstanding Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, Revolving Loans) are Base Rate Loans or Term SOFR Loans; *provided* that with respect to such mandatory prepayment, the amount of such mandatory prepayment within any tranche of Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, Revolving Loans) shall be applied first to Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, Revolving Loans) of such tranche that are Base Rate Loans to the full extent thereof before application to Term Loans (and, in the case of <u>Section 2.03(b)(ii)(B)</u> only, Revolving Loans) of such tranche that are Term SOFR Loans in a manner that minimizes the amount of any payments required to be made by the Borrower pursuant to <u>Section 3.05</u>; *provided, further*, that, in the event that any Lender has waived its right to prepayment pursuant to <u>Section 2.03(b)(vi)</u>, then such Lender shall be excluded from the pro rata application of such prepayment.

Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination or Reduction of Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Optional.* The Borrower may, upon irrevocable written notice from the Borrower to the Administrative Agent, terminate the unused Commitments of any Class, or from time to time permanently reduce the unused Commitments of any Class, in each case without premium or penalty; *provided* that (i) any such notice shall be received by the Administrative Agent three (3) Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in a minimum aggregate amount of $100,000, as applicable, or any whole multiple of $100,000, in excess thereof. The Borrower shall not (i) terminate or reduce the Term Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the total Outstanding Amount under the Term Facility would exceed the Term Commitments under the Term Facility and (ii) terminate or reduce the Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the total Outstanding Amount under the Revolving Facility would exceed the Revolving Commitments under the Revolving Facility. Notwithstanding the foregoing, the Borrower may rescind or postpone any notice of termination of the Commitments if such termination would have resulted from a refinancing of all of the applicable Facility, which refinancing shall not be consummated or otherwise shall be delayed. Prior to the Conversion Date, the Borrower may only voluntarily terminate or reduce the Initial Term Commitments if a Responsible Officer has certified to the Administrative Agent that the funds under the cancelled Initial Term Commitments are not necessary to achieve the Conversion Date by the Date Certain (in each case, as confirmed by the Independent Engineer). The Borrower may only voluntarily terminate or reduce the Initial Revolving Commitments if a Responsible Officer has certified to the Administrative Agent that the funds under the cancelled Initial Revolving Commitments are not necessary to satisfy the Debt Service Reserve Required Balance or provide credit support in respect to the obligations of the Loan Parties under the Material Project Documents or that the Borrower otherwise has sufficient funds and/or letter of credit

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capacity to fund the Debt Service Reserve Required Balances as and when required under the Loan Documents or provide such credit support as and when required under the Material Project Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Mandatory.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Initial Term Commitment of each Term Lender shall be automatically and permanently reduced to $0 on the last day of the TLA Availability Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;The Initial Revolving Commitment of each Revolving Lender shall be automatically and permanently reduced to $0 on the last day of the Revolver Availability Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Application of Commitment Reductions; Payment of Fees.* The Administrative Agent will promptly notify the Appropriate Lenders of any termination or reduction of unused portions of the unused Commitments of any Class under this <u>Section 2.04</u>. Upon any reduction of unused Commitments of any Class, the Commitment of each Lender of such Class shall be reduced by such Lender's Pro Rata Share of the amount by which such Commitments are reduced (other than the termination of the Commitment of any Lender as provided in <u>Section 3.07</u>). All commitment fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

Section 2.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Repayment of Loans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Term Loans.* The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders (i) with respect to each fiscal quarter, no later than the Quarterly Payment Date with respect to such fiscal quarter, commencing with the Quarterly Payment Date with respect to the first full fiscal quarter after the Conversion Date, an aggregate principal amount equal to the aggregate principal amount of Initial Term Loans set forth opposite such Quarterly Payment Date on <u>Schedule 2.05(a)</u> of the aggregate principal amount of the Initial Term Loans outstanding on the Conversion Date and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date; *provided* that payments required by <u>Section 2.05(a)(i)</u> above shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in <u>Section 2.03(b)</u>. In the event any Incremental Term Loans are made, such Incremental Term Loans shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment with respect thereto and on the applicable Maturity Date thereof. For the avoidance of doubt, the full amount of the Loans shall be repaid in accordance with this <u>Section 2.05</u> and <u>Section 2.03</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Revolving Loans*. The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Appropriate Lender on the Maturity Date for the Revolving Loans the aggregate principal amounts of all of its Revolving Loans then outstanding. All payments for the account of such Appropriate Lenders in respect of this <u>Section 2.05(c)</u> shall be applied to the Revolving Loans on a *pro rata* basis based on such Appropriate Lender's Pro Rata Share.

Section 2.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of <u>Section 2.06(b)</u>, (i) each Term SOFR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate *per annum* equal to Term SOFR for such Interest Period *plus* the Applicable Rate and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate *plus* the Applicable Rate.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;During the continuance of an Event of Default under <u>Section 8.01(a)</u>, the Borrower shall pay interest on past due principal or interest owing by it hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws; *provided* that no interest at the Default Rate shall accrue or be payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Accrued and unpaid interest on such amounts (including interest on past due interest) shall be due and payable upon demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto, upon any prepayment in respect thereof and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. For the avoidance of doubt, interest shall be payable on the full amount of the Loans in accordance with this <u>Section 2.06</u>.

Section 2.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Fees</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall pay to the Administrative Agent (for the account of the parties entitled thereto) such fees as shall have been separately agreed upon in writing in the amounts and at the times so specified (including all fees under the Fee Letters that are payable pursuant to the terms thereof). Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever (except as expressly agreed between the Borrower and the applicable Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees to pay to the Administrative Agent for account of each Term Lender having Term Commitments a commitment fee, which shall accrue at a rate per annum equal to thirty-five percent (35%) of the Applicable Rate on the average daily unused amount of the Term Commitment of such Term Lender during the period from and including the Closing Date to but excluding the date each such Term Commitment terminates (or if such Term Commitment is cancelled or expired prior to such date, on the date of such cancellation or expiration). All commitment fees shall be computed on the basis of a year of three hundred sixty (360) days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing commitment fees with respect to the Term Commitments, a Term Lender's Term Commitment shall be deemed to be used to the extent of such Term Lender's outstanding Term Loans of the corresponding Class. Accrued commitment fees shall be due and payable in arrears on each Quarterly Date, commencing on the first such date to occur after the Closing Date; provided, that, notwithstanding the foregoing, the first payment of commitment fees following the Conversion Date shall be made on the Quarterly Date occurring in the first full quarter following the Conversion Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees to pay to the Administrative Agent for account of each Revolving Lender having Revolving Commitments a commitment fee, which shall accrue at a rate per annum equal to thirty-five percent (35%) of the Applicable Rate on the average daily unused amount of the Revolving Commitment of such Revolving Lender during the period from and including the Closing Date to but excluding the date each such Revolving Commitment terminates (or if such Revolving Commitment is cancelled or expired prior to such date, on the date of such cancellation or expiration). All commitment fees shall be computed on the basis of a year of three hundred sixty (360) days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing commitment fees with respect to the Revolving Commitments, a Revolving Lender's Revolving Commitment shall be deemed to be used to the extent of such Revolving Lender's outstanding Revolving Loans of the corresponding Class. Accrued commitment fees shall be due and payable in arrears on each Quarterly Date, commencing on the first such date to occur after the Closing Date;

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provided, that, notwithstanding the foregoing, the first payment of commitment fees following the Conversion Date shall be made on the Quarterly Date occurring in the first full quarter following the Conversion Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees to pay the Administrative Agent, for the account of each Revolving Lender under the Revolving Facility and each Issuing Bank, the fees specified in Section 2.19 on the dates specified therein.

Section 2.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Computation of Interest and Fees</u>. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of three hundred sixty-five (365) days, or three hundred sixty-six (366) days, as applicable, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a three hundred sixty (360) day year and actual days elapsed. Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; *provided* that any Loan that is repaid on the same day on which it is made shall, subject to <u>Section 2.10(a)</u>, bear interest for one (1) day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Section 2.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Evidence of Indebtedness</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrowings made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be *prima facie* evidence absent manifest error of the amount of the Loans made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the Register and the corresponding accounts and records of the Administrative Agent in respect of such matters, the Register and the corresponding accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender or its registered assigns, which shall evidence such Lender's Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and record thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. Upon Payment in Full, each Note shall be deemed automatically terminated, canceled and of no further force or effect. Upon request of the Borrower, the Lenders shall return such Notes to the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Entries made in good faith by the Administrative Agent in the Register pursuant to <u>Section 2.09(a)</u>, and by each Lender in its account or accounts pursuant to <u>Section 2.09(a)</u>, shall be *prima facie* evidence of the amount of principal and interest due and payable or to become due and payable from the Borrower to, in the case of the Register, each Lender and, in the case of such account or accounts, such Lender, under this Agreement and the other Loan Documents, absent manifest error; *provided* that the failure of the Administrative Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of the Borrower under this Agreement and the other Loan Documents.

Section 2.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments Generally</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative Agent's Office in Dollars and in Same Day Funds not later than 12:00 noon New York City time on the date specified herein. The Administrative Agent will promptly distribute to each Appropriate Lender its Pro Rata Share (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender's applicable Lending Office. All payments received by the Administrative Agent after 12:00 noon New York City time shall in each case be deemed received on the next succeeding Business Day, in the Administrative Agent's sole discretion, and any applicable interest or fee shall continue to accrue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided herein, if any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be; *provided* that, if such extension would cause payment of interest on or principal of Term SOFR Loans to be made in the next succeeding calendar month, such payment shall be made on the immediately preceding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Unless the Borrower or any Lender has notified the Administrative Agent, prior to the date any payment is required to be made by it to the Administrative Agent hereunder, that Borrower or such Lender, as the case may be, will not make such payment, the Administrative Agent may assume that Borrower or such Lender, as the case may be, has timely made such payment and may (but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and to the extent that such payment was not in fact made to the Administrative Agent in Same Day Funds, then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if Borrower failed to make such payment, each Lender shall forthwith on demand repay to the Administrative Agent the portion of such assumed payment that was made available to such Lender in Same Day Funds, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative Agent to such Lender to the date such amount is repaid to the Administrative Agent in Same Day Funds at the Overnight Bank Funding Rate, *plus* any reasonable administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if any Lender failed to make such payment, such Lender shall forthwith on demand pay to the Administrative Agent the amount thereof in Same Day Funds, together with interest thereon for the period from the date such amount was made available by the Administrative Agent to the Borrower to the date such amount is recovered by the Administrative Agent (the "**Compensation Period**") at a rate *per annum* equal to the Overnight Bank Funding Rate, *plus* any reasonable administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing. When such Lender makes payment to the Administrative Agent (together with all accrued interest thereon), then such payment amount (excluding the amount of any interest which may have accrued and been paid in respect of such late payment) shall constitute such Lender's Loan included in the applicable Borrowing. If such Lender does not pay such amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent may make a demand therefor upon the Borrower, and the Borrower shall pay such amount to the Administrative Agent, together with interest thereon for the

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Compensation Period at a rate per annum equal to the rate of interest applicable to the applicable Borrowing. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice any rights which the Administrative Agent or the Borrower may have against any Lender as a result of any default by such Lender hereunder.

A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this <u>Section 2.10(c)</u> shall be conclusive, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this <u>Article II</u>, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Borrowing set forth in <u>Article IV</u> or in the applicable Incremental Amendment are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The obligations of the Lenders hereunder to make Loans are several and not joint. The failure of any Lender to make any Loan or to fund any such participation on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan or purchase its participation.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Whenever any payment received by the Administrative Agent under this Agreement or any of the other Loan Documents is insufficient to pay in full all amounts due and payable to the Administrative Agent and the Lenders under or in respect of this Agreement and the other Loan Documents on any date, such payment shall be distributed by the Administrative Agent and applied by the Administrative Agent and the Lenders in the order of priority set forth in <u>Section 8.04</u> (subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement)). If the Administrative Agent receives funds for application to the Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may (to the fullest extent permitted by mandatory provisions of applicable Law), but shall not be obligated to, elect to distribute such funds to each of the Lenders in accordance with such Lender's Pro Rata Share of the Outstanding Amount of all Loans outstanding at such time, in repayment or prepayment of such of the outstanding Loans or other Obligations then owing to such Lender.

Section 2.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Sharing of Payments</u>. If, other than as expressly provided elsewhere herein, any Lender shall obtain on account of the Loans made by it, or any security therefor, any payment or distribution (whether voluntary, involuntary, through the exercise of any right of setoff, or otherwise) in excess of its ratable share (or other share contemplated hereunder) thereof, such Lender shall immediately (a) notify the Administrative Agent of such fact, and (b) purchase from the other Lenders such participations in the Loans made by them as shall be necessary to cause such purchasing Lender to share the excess payment or distribution in respect of such Loans or such participations, as the case may be, *pro rata* with each of them; *provided* that if all or any portion of such excess payment or distribution is thereafter recovered from the purchasing Lender under any of the circumstances described in <u>Section 10.06</u> (including pursuant to any settlement entered into by the purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other Lender shall repay to the purchasing Lender the

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purchase price paid therefor, together with an amount equal to such paying Lender's ratable share (according to the proportion of (i) the amount of such paying Lender's required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered, without further interest thereon. For avoidance of doubt, the provisions of this paragraph shall not be construed to apply to (A) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement as in effect from time to time (including the application of funds arising from the existence of a Defaulting Lender) or (B) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant permitted hereunder. The Borrower agrees that any Lender so purchasing a participation from another Lender may, to the fullest extent permitted by applicable Law, exercise all its rights of payment (including the right of setoff, but subject to <u>Section 10.09</u>) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation. The Administrative Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased under this <u>Section 2.11</u> and will in each case notify the Lenders following any such purchases or repayments. Each Lender that purchases a participation pursuant to this <u>Section 2.11</u> shall from and after such purchase have the right to give all notices, requests, demands, directions and other communications under this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased.

Section 2.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Incremental Borrowings</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Incremental Commitments*. The Borrower may at any time or from time to time after the Closing Date, by notice from the Borrower to the Administrative Agent (an "**Incremental Facility Request**"), request (x) one or more new commitments in respect to term loans (each, an "**Incremental Term Facility**") which may be in the same Facility as any outstanding Term Loans of an existing Class of Term Loans (a "**Term Loan Increase**") or a new Class of Term Loans (collectively with any Term Loan Increase, the "**Incremental Term Commitments**" and the term loans thereunder, "**Incremental Term Loans**") and (y) one or more new commitments in respect to revolving loans (each, an "**Incremental Revolving Facility**") which may be in the same Facility as any outstanding Revolving Loans of an existing Class of Revolving Loans (a "**Revolving Loan Increase**") or a new Class of Revolving Loans (collectively with any Revolving Loan Increase, the "**Incremental Revolving Commitments**" and the revolving loans thereunder, the "**Incremental Revolving Loans**"), whereupon the Administrative Agent shall promptly deliver a copy of such Incremental Facility Request to each of the Lenders (except to those Lenders (if any) the Borrower has notified the Administrative Agent that it does not intend to approach for Incremental Commitments).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Incremental Loans*. Any Incremental Commitments effected through the establishment of commitments under an existing Facility under this Agreement or new Term Loans or Revolving Loans made on an Incremental Closing Date shall be designated a separate Class of Incremental Commitments for all purposes of this Agreement, except in the case of a Term Loan Increase or a Revolving Loan Increase, as applicable. On any Incremental Closing Date on which any Incremental Commitments of any Class are effected (including through any Term Loan Increase or Revolving Loan Increase), subject to the satisfaction of the terms and conditions in this <u>Section 2.12</u>, (i) each Incremental Term Lender of such Class shall become a Lender hereunder with respect to the Incremental Term Commitment of such Class and the Incremental Term Loans of such Class made pursuant thereto and (ii) each Incremental Revolving Lender of such Class shall become a Lender hereunder with respect to the Incremental Revolving Commitment of such Class and the Incremental Revolving Loans of such Class made pursuant thereto. Notwithstanding the foregoing, Incremental Term Loans and Incremental Revolving Loans, as applicable,

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may have identical terms to any of the Term Loans or any of the Revolving Loans, as applicable, and be treated as the same Class as any of such Term Loans or Revolving Loans, as applicable. The Incremental Term Loans shall be funded net of the OID applicable thereto, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Incremental Facility Request*. Each Incremental Facility Request from the Borrower pursuant to this <u>Section 2.12</u> shall set forth the requested amount and proposed terms of the relevant Incremental Loans. Incremental Loans may be made by any existing Lender (but each existing Lender will not have an obligation to make any Incremental Commitment, nor will the Borrower have any obligation to approach any existing Lenders to provide any Incremental Commitment) or by any other bank or other financial institution or other institutional lender (any such other bank or other financial institution or other institutional lender being called an "**Additional Lender**") (each such existing Lender or Additional Lender providing such Incremental Commitment, an "**Incremental Lender**"); *provided* that (i) with respect to Incremental Loans secured by Parity Liens, the Administrative Agent (and with respect to Incremental Revolving Loans, the Issuing Banks) shall have consented (not to be unreasonably withheld, conditioned or delayed) to such Lender's or Additional Lender's making such Incremental Loans to the extent such consent, if any, would be required under <u>Section 10.07(b)</u> for an assignment of Loans to such Lender or Additional Lender and (ii) with respect to Incremental Term Commitments, any Affiliated Lender providing an Incremental Term Commitment shall be subject to the same restrictions set forth in <u>Section 10.07(k)</u> as they would otherwise be subject to with respect to any purchase by or assignment to such Affiliated Lender of Term Loans. The Borrower may appoint any Person to arrange any Incremental Commitments and provide such Person any titles with respect to such arrangement of Incremental Commitments as it deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Effectiveness of Incremental Amendment*. The effectiveness of any Incremental Amendment, and the Incremental Term Commitments thereunder, shall be subject to the satisfaction on the date thereof (the "**Incremental Closing Date**") of each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the representations and warranties of each Loan Party set forth in Article V and in each other Loan Document shall be true and correct in all material respects (except that any representation and warranty that is qualified as to "materiality" or "Material Adverse Effect" shall be true and correct in all respects as so qualified) on and as of the effective date of such Incremental Amendment with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;immediately before and immediately after giving effect to such Incremental Commitments, no Event of Default shall exist and be continuing or would immediately result from such proposed Incremental Commitment or from the application of the proceeds therefrom;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;each Incremental Commitment shall be in an aggregate principal amount that is not less than $5,000,000 and shall be in an increment of $1,000,000 (*provided* that such amount may be less than $5,000,000 if such amount represents all remaining availability under the limit set forth in the next sentence);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate principal amount of the Incremental Loans, together with the aggregate principal amount of Incremental Equivalent Debt, shall not exceed the sum of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the Free and Clear Incremental Amount, *plus* 

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;an amount equal to aggregate principal amount of all voluntary prepayments, redemptions and repurchases and other permanent reductions (but, with respect to the Revolving Facility or other revolving loans, only to the extent such voluntary prepayment is accompanied by a permanent reduction of the commitments of the Revolving Facility or such other revolving facility) of the Loans and/or other Parity Lien Debt and all debt buy backs, yank-a-bank payments and similar transactions made in respect of any of the foregoing (with credit given to the principal amount of the debt purchased) at or prior to the date of any such incurrence (in each case, to the extent not funded with the proceeds of Long Term Debt and whether or not offered to all Lenders); *provided*, that the foregoing shall not apply in respect of any prepayments, redemptions or repurchases of, or other permanent reductions of, indebtedness incurred using the Incurrence-Based Incremental Amount (the "**Voluntary Prepayment Amount**"); plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;an additional amount such that, after giving effect to the incurrence of such amount, the use of proceeds thereof (including for purposes of this <u>clause (iii)</u>, the full amount of any Incremental Loans incurred at such time but without netting the cash proceeds of such Incremental Loans in the calculation of the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio or the Total Net Leverage Ratio) and any other *pro forma* adjustments (A) in the case of Incremental Loans secured by Parity Liens, the First Lien Net Leverage Ratio calculated on a *pro forma* basis for the most recently ended Test Period for which financial statements of the Borrower are internally available as of the date of incurrence of any such Incremental Loans does not exceed 4.50:1.00, (B) in the case of Incremental Loans secured by Junior Liens, the Secured Net Leverage Ratio calculated on a *pro forma* basis for the most recently ended Test Period for which financial statements of the Borrower are internally available as of the date of incurrence of any such Incremental Loans does not exceed 5.00:1.00 and (C) in the case of Incremental Loans incurred on an unsecured basis, the Total Net Leverage Ratio calculated on a *pro forma* basis for the most recently ended Test Period for which financial statements of the Borrower are internally available as of the date of incurrence of any such Incremental Loans does not exceed 5.25:1.00; *provided* that the amount of debt for purposes of calculating such First Lien Net Leverage Ratio, Secured Net Leverage Ratio or Total Net Leverage Ratio, as applicable, for this <u>clause (iii)</u>, shall not include any principal amount or cash proceeds of Incremental Loans and Incremental Equivalent Debt which is being incurred simultaneously or substantially simultaneously by utilizing the Free and Clear Incremental Amount and/or the Voluntary Prepayment Amount (the "**Incurrence-Based Incremental Amount**", collectively, the amounts in <u>clauses (A)</u> through <u>(C)</u>, the "**Incremental Availability Amount**"). The Borrower may elect to incur any Incremental Loans or Incremental Equivalent Debt by utilizing the Incurrence-Based Incremental Amount, the Free and Clear Incremental Amount, the Voluntary Prepayment Amount or any combination thereof, and Borrower may at any time elect to reclassify any principal amount of any Incremental Loans or Incremental Equivalent Debt incurred utilizing the Free and Clear Incremental Amount or the Voluntary Prepayment Amount as being incurred by utilizing the Incurrence-Based Incremental Amount, to the extent the Incurrence-Based Incremental Amount, as recalculated at such time, exceeds the aggregate principal amount outstanding of the Incremental Loans and Incremental Equivalent Debt being reclassified, and such reclassification shall occur automatically on the last day of any fiscal quarter while any Incremental Loans or Incremental Equivalent Debt is outstanding to the extent that the Incurrence-Based Incremental Amount, as recalculated at such time, exceeds the

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aggregate principal amount outstanding of the Incremental Loans and Incremental Equivalent Debt. For the avoidance of doubt, any incurrence of Incremental Equivalent Debt in reliance on the Incurrence-Based Incremental Amount shall be calculated as if references to the Incremental Loans in this <u>clause (iii)</u> were references to such Incremental Equivalent Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the incurrence of any such Incremental Loans shall be in compliance with all obligations under Regulations T, U and X issued by the FRB; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;such other conditions as the Borrower and each Incremental Lender providing such Incremental Commitments shall agree;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower certifies, and provides written evidence in form and substance reasonably acceptable to the Administrative Agent demonstrating, that there is a pro forma projected Debt Service Coverage Ratio of at least 1.30:1.00 for each quarter through the remaining tenor of the CP2 TSA; *provided* that such projected Debt Service Coverage Ratio shall be calculated (A) taking into account any additional revenues under the CP2 TSA, (B) shall not take into account any revenue that is not contracted as of the date of such calculation and (C) assuming fully-amortizing term loan debt during such period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;the proceeds with respect thereto may only be used in connection with Permitted Incremental Uses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Required Terms*. The terms, provisions and documentation of any Incremental Loans and Incremental Commitments of any Class shall be as agreed between the Borrower and the applicable Incremental Lenders providing such Incremental Commitments, except as otherwise set forth herein. In any event:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Incremental Loans:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;shall be unsecured or shall rank *pari passu* with or junior in right of payment and of security to the Term Loans and the Revolving Loans (and to the extent subordinated in right of payment or security, shall be subject to a Junior Lien Intercreditor Agreement or an alternate intercreditor and subordination arrangement reasonably satisfactory to the Administrative Agent),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;(1) with respect to Incremental Term Loans, shall not mature earlier than the Maturity Date of the Initial Term Loans and (2) with respect to Incremental Revolving Loans, shall not mature earlier than the Maturity Date of the Initial Revolving Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;with respect to Incremental Term Loans, shall have a Weighted Average Life to Maturity not shorter than the remaining Weighted Average Life to Maturity of the Initial Term Loans (without giving effect to any prepayments of the Initial Term Loans prior to the time of incurrence of such Incremental Term Loans that would otherwise shorten the Weighted Average Life to Maturity of the Initial Term Loans); *provided* that the foregoing requirements of this <u>clause (C)</u> shall not apply to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged

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satisfies the requirements of this <u>clause (C)</u> and such conversion or exchange is subject only to conditions customary for similar conversions or exchange,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;shall have an Applicable Rate, and subject to <u>clauses (e)(i)(B)</u> and <u>(e)(i)(C)</u> above and <u>clause (e)(iii)</u> below, with respect to Incremental Term Loans, amortization determined by the Borrower and the applicable Incremental Lenders,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;may not be incurred (or guaranteed) by a non-Loan Party or secured by assets that do not constitute Collateral,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;(1) with respect to Incremental Term Loans, any Incremental Term Loans may share on a pro rata or less than pro rata basis (but not greater than pro rata basis) in any mandatory repayments or prepayments of the Initial Term Loans (other than with respect to prepayments of such Incremental Term Loans at maturity, any greater than pro rata repayment of such Incremental Term Facility that constitutes an earlier maturing tranche of Term Loans or with the proceeds of a Permitted Refinancing in respect thereof) and (2) with respect to Incremental Revolving Loans, any Incremental Revolving Loans may share on a pro rata or less than pro rata basis (but not greater than pro rata basis) in any mandatory repayments or prepayments of the Initial Revolving Loans (other than with respect to prepayments of such Incremental Revolving Loans at maturity, any greater than pro rata repayment of such Incremental Revolving Facility or with the proceeds of a Permitted Refinancing in respect thereof), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G)&nbsp;&nbsp;&nbsp;&nbsp;with respect to Incremental Revolving Loans, no Incremental Revolving Facility shall require any scheduled amortization payments prior to the Maturity Date of the Initial Revolving Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;[reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;with respect to Incremental Term Loans, the amortization schedule applicable to any Incremental Term Loans and the All-In Yield applicable to the Incremental Term Loans of each Class shall be determined by the Borrower and the applicable Incremental Lenders and shall be set forth in each applicable Incremental Amendment; *provided*, *however*, that with respect to any Incremental Term Loans that are made prior to the date that is six (6) months after the Closing Date and are scheduled to mature prior to the date that is twelve (12) months after the Maturity Date of the Initial Term Loans (other than Incremental Term Loans that are unsecured or rank junior in right of payment and of security to the Initial Term Loans), if the All-In Yield applicable to such Incremental Term Loans shall be greater than the applicable All-In Yield payable pursuant to the terms of this Agreement as amended through the date of such calculation with respect to the Initial Term Loans by more than 50 basis points per annum (the amount of such excess of the All-In Yield applicable to such Incremental Term Loans over the sum of the All-In Yield applicable to the Initial Term Loans plus 50 basis points per annum, the "**Yield Differential**") then the interest rate (together with, as provided in the proviso below, the SOFR or Base Rate floor) with respect to the Initial Term Loans shall be increased by the applicable Yield Differential (this proviso, the "**MFN Protection**"). 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise required or permitted in this <u>Section 2.12</u>, all other terms of any Incremental Commitments (excluding pricing, rate floors, discounts, fee and optional prepayment provisions), shall be as agreed between the Borrower and the applicable Incremental

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Lenders providing such Incremental Commitments; *provided*, *however*, that such terms shall not be materially less favorable (when taken as a whole) to the Borrower than the terms of the Initial Term Loans or the Initial Revolving Loans, as applicable; *provided*, *further*, that the foregoing proviso shall not apply (x) to the extent that the covenants and terms apply solely to any period after the Latest Maturity Date that is in effect on the effective date of the Incremental Amendment (immediately prior to the establishment of such Incremental Commitments) or (y) to the extent such covenant or term is also made applicable to the Initial Term Loans or the Initial Revolving Loans, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Incremental Amendment*. Commitments in respect of Incremental Loans shall become Commitments under this Agreement pursuant to an amendment (an "**Incremental Amendment**") to this Agreement and, as appropriate, the other Loan Documents, executed by the Borrower or such other Loan Party organized under the Laws of the United States, any state thereof, the District of Columbia or any territory thereof, that may be designated as a borrower in respect thereof (if any), each Incremental Lender providing such Commitments and the Administrative Agent. The Incremental Amendment may, without the consent of any other Loan Party, Agent or Lender, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this <u>Section 2.12</u>. No Lender shall be obligated to provide any Incremental Loans, unless it so agrees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;This <u>Section 2.12</u> shall supersede any provisions in <u>Section 2.11</u> or <u>10.01</u> to the contrary.

<u>Section 2.13&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</u>

Section 2.14&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

Section 2.15&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

Section 2.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Defaulting Lenders</u>.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*<u>Waivers and Amendments</u>*. Such Defaulting Lender's right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in <u>Section 10.01</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;*<u>Reallocation of Payments</u>*. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to <u>Article VIII</u> or otherwise), shall be applied at such time or times as may be determined by the Administrative Agent as follows: *first*, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; *second*, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to Issuing Banks hereunder; *third*, as the Borrower may request (so long as no Default or Event of Default has occurred and is continuing), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; *fourth*, if so determined by the Administrative Agent or requested by any Issuing Bank, to be held as Cash Collateral for future funding obligations of that Defaulting Lender of any participation in any Letter of Credit; *fifth*, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of such Defaulting Lender to fund Loans under this

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Agreement; *sixth*, to the payment of any amounts owing to the Lenders, the Issuing Banks as a result of any judgment of a court of competent jurisdiction obtained by any Lender, any Issuing Bank against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; *seventh*, so long as no Default or Event of Default has occurred and is continuing, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; and *eighth*, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; *provided* that if such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender has not fully funded its appropriate share such payment shall be applied solely to pay the Loans or L/C Borrowings of all Non-Defaulting Lenders on a *pro rata* basis prior to being applied to the payment of any Loans or L/C Borrowings of such Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by such Defaulting Lender or to post Cash Collateral pursuant to this <u>Section 2.16(a)(ii)</u> shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Reallocation of Pro Rata Share to Reduce Fronting Exposure; Certain Fees*. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 2.19, the "Pro Rata Share" of each Non-Defaulting Lender's Revolving Loans and L/C Obligations shall be computed without giving effect to the Commitment of that Defaulting Lender; provided that the aggregate obligation of each Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit shall not exceed the positive difference, if any, of (1) the Commitment of that Non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Loans of that Lender. That Defaulting Lender (x) shall not be entitled to receive any commitment fee pursuant to <u>Section 2.07(b)</u> for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender) and (y) shall be limited in its right to receive Letter of Credit fees as provided in Section 2.19(h).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Defaulting Lender Cure*. If the Borrower, the Administrative Agent and the Issuing Banks agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), such Lender will cease to be a Defaulting Lender; *provided* that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting Lender; and *provided*, *further*, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from such Lender's having been a Defaulting Lender.

Section 2.17&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

Section 2.18&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

Section 2.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Letters of Credit.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>The Letter of Credit Commitment</u>. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions set forth herein, (A) each Issuing Bank agrees, in reliance upon (among other things) the agreements of the other Revolving Lenders set

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forth in this Section 2.19, (1) from time to time on any Business Day during the Letter of Credit Availability Period to issue standby Letters of Credit denominated in Dollars for the account of the Borrower and to amend or extend Letters of Credit previously issued by it, in accordance with Section 2.19(b), and (2) to honor drawings under the Letters of Credit and (B) the Revolving Lenders severally agree to participate in Letters of Credit issued pursuant to this Section 2.19 and any drawings thereunder; provided that no Issuing Bank shall be obligated to make any Letter of Credit Issuance with respect to any Letter of Credit, and no Lender shall be obligated to participate in any Letter of Credit if, as of the date of such Letter of Credit Issuance, (x) the aggregate L/C Obligations for all Letters of Credit issued by such Issuing Bank would exceed such Issuing Bank's Letter of Credit Commitment and (y) the Revolving Credit Exposure of any Revolving Lender would exceed such Lender's Revolving Commitment. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower's ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;An Issuing Bank shall be under no obligation to issue any Letter of Credit if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing Bank from issuing such Letter of Credit, or any Law applicable to such Issuing Bank or any directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Bank shall prohibit, or direct that such Issuing Bank refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon such Issuing Bank with respect to such Letter of Credit any restriction, liquidity, reserve or capital requirement (for which such Issuing Bank is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon such Issuing Bank any unreimbursed loss, cost or expense which was not applicable on the Closing Date (for which such Issuing Bank is not otherwise compensated hereunder);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;subject to <u>Section 2.19(b)(iii)</u>, the expiry date of such requested Letter of Credit would occur more than 12 months after the date of issuance or the then-current expiry date, unless the Issuing Bank and the Borrower have approved of such expiration date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;the expiry date of such requested Letter of Credit would occur after the Latest Letter of Credit Expiration Date, unless (1) each Appropriate Lender has approved such expiry date or (2) the Issuing Bank thereof has approved of such expiration date and the Outstanding Amount of L/C Obligations in respect of such requested Letter of Credit has been Cash Collateralized or otherwise backstopped pursuant to arrangements reasonably satisfactory to such Issuing Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;the issuance of such Letter of Credit would violate any Laws binding upon such Issuing Bank or any policies of the Issuing Bank governing letters of credit in general;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;such Letter of Credit is in an initial amount less than $50,000; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;any Revolving Lender is at that time a Defaulting Lender, unless such Issuing Bank has entered into arrangements, including the delivery of Cash Collateral, satisfactory to such Issuing Bank (in its sole discretion) with the Borrower or such Lender to eliminate such Issuing Bank's actual or potential Fronting Exposure (after giving effect to Section 2.16(b) with respect to the Defaulting Lender arising from the Letter of Credit then proposed to be issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;An Issuing Bank shall be under no obligation to issue an amendment or extension to any Letter of Credit if such Issuing Bank would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Each Issuing Bank shall act on behalf of the Revolving Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and each Issuing Bank shall have all of the benefits and immunities (A) provided to the Administrative Agent in <u>Article IX</u> with respect to any acts taken or omissions suffered by such Issuing Bank in connection with Letters of Credit issued by it or proposed to be issued by it and any Letter of Credit Application (and any other document, agreement or instrument entered into by such Issuing Bank and the Borrower or in favor of such Issuing Bank) pertaining to such Letters of Credit as fully as if the term "Administrative Agent" as used in <u>Article IX</u> included such Issuing Bank with respect to such acts or omissions, and (B) as additionally provided herein with respect to each Issuing Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Each Letter of Credit or amendment shall be issued, as the case may be, upon the request of the Borrower delivered to an Issuing Bank (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Borrower. Such Letter of Credit Application must be received by the relevant Issuing Bank and the Administrative Agent not later than 11:00 am New York City time at least three Business Days prior to the proposed issuance date or amendment date, as the case may be, or such later date and time as the relevant Issuing Bank may agree in a particular instance in its sole discretion. In the case of a request for the issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the relevant Issuing Bank: (a) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (b) the amount thereof; (c) the expiry date thereof; (d) the name and address of the beneficiary thereof; (e) the documents to be presented by such beneficiary in case of any drawing thereunder; (f) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (g) such other matters as the relevant Issuing Bank may reasonably request. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the relevant Issuing Bank (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the relevant Issuing Bank may reasonably request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Promptly after receipt of any Letter of Credit Application, the relevant Issuing Bank will confirm with the Administrative Agent (in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not, such Issuing Bank will provide the Administrative Agent with a copy thereof. Upon written notice from the Administrative Agent confirming that the conditions contained in <u>Article IV</u> have been satisfied

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(and the Administrative Agent hereby agrees to deliver such notice upon such satisfaction (it being understood that in making such determination, the Administrative Agent shall be permitted to conclusively rely on a certificate of the Borrower (or the Letter of Credit Application) delivered in connection with such request)), then, subject to the terms and conditions hereof, such Issuing Bank shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be. Immediately upon the issuance of each Letter of Credit, each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the relevant Issuing Bank a risk participation in such Letter of Credit in an amount equal to the product of such Lender's Pro Rata Share or other applicable share provided for under this Agreement *multiplied* by the amount of such Letter of Credit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;If the Borrower so requests in any applicable Letter of Credit Application, the relevant Issuing Bank shall agree to issue a Letter of Credit that has automatic extension provisions (each, an "**Auto-Extension Letter of Credit**"); *provided* that any such Auto-Extension Letter of Credit must permit the relevant Issuing Bank to prevent any such extension at least once in each twelve month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the "**Non-Extension Notice Date**") prior to the end of such twelve month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the relevant Issuing Bank, the Borrower shall not be required to make a specific request to the relevant Issuing Bank for any such extension. Once an Auto-Extension Letter of Credit has been issued, the applicable Lenders shall be deemed to have authorized (but may not require) the relevant Issuing Bank to permit the extension of such Letter of Credit at any time to an expiry date not later than the Latest Letter of Credit Expiration Date; *provided* that the relevant Issuing Bank shall not permit any such extension if (A) the relevant Issuing Bank has determined that it would not be permitted at such time to issue such Letter of Credit in its extended form under the terms hereof (by reason of the provisions of <u>Section 2.19(a)(ii)</u> or otherwise), or (B) it has received notice (which shall be in writing) on or before the day that is five Business Days before the Non-Extension Notice Date from the Administrative Agent, any Revolving Lender or the Borrower that one or more of the applicable conditions specified in <u>Article IV</u> is not then satisfied, and in each such case directing the Issuing Bank not to permit such extension.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;[Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Promptly after issuance of any Letter of Credit or any amendment to a Letter of Credit, the relevant Issuing Bank will also deliver to the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment and such other information as the Administrative Agent or the Borrower shall reasonably request as to the Letters of Credit issued by such Issuing Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Drawings and Reimbursements; Funding of Participations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Upon receipt from the beneficiary of any Letter of Credit of a compliant drawing under such Letter of Credit, the relevant Issuing Bank shall notify promptly the Borrower and the Administrative Agent thereof. Not later than 12:00 noon New York City time on the next Business Day immediately following any payment by an Issuing Bank under a Letter of Credit (each such date, an "**Honor Date**"), the Borrower shall reimburse such Issuing Bank through the Administrative Agent in an amount equal to the amount of such drawing and in the applicable

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currency. If the Borrower fails to so reimburse such Issuing Bank by such time, the Administrative Agent shall promptly notify each Appropriate Lender of the Honor Date, the amount of the unreimbursed drawing (the "**Unreimbursed Amount**"), and the amount of such Appropriate Lender's Pro Rata Share or other applicable share provided for under this Agreement thereof. In such event, the Borrower shall be deemed to have requested a Revolving Loan of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in <u>Section 2.02</u> for the principal amount of Base Rate Loans but subject to the amount of the unutilized portion of the Revolving Commitments of the Appropriate Lenders and the absence of a Payment or Bankruptcy Event of Default (but not, for the avoidance of doubt, any of the conditions set forth in <u>Article IV</u>). Any notice given by an Issuing Bank or the Administrative Agent pursuant to this Section 2.19(c)(i) shall be in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Each Appropriate Lender (including any Lender acting as an Issuing Bank) shall upon any notice pursuant to <u>Section 2.19(c)(i)</u> make funds available to the Administrative Agent for the account of the relevant Issuing Bank at the Administrative Agent's Office for payments in an amount equal to its Pro Rata Share or other applicable share provided for under this Agreement of the Unreimbursed Amount not later than 2:00 p.m. New York City time on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of <u>Section 2.19(c)(iii)</u>, each Appropriate Lender that so makes funds available shall be deemed to have made a Revolving Loan that is a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall promptly remit the funds so received to the relevant Issuing Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;With respect to any Unreimbursed Amount that is not fully refinanced by a Revolving Facility Borrowing of Base Rate Loans because a Payment or Bankruptcy Event of Default exists or for any other reason, the Borrower shall be deemed to have incurred from the relevant Issuing Bank an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest (which begins to accrue upon funding by the Issuing Bank) at the Default Rate. In such event, each Appropriate Lender's payment to the Administrative Agent for the account of the relevant Issuing Bank pursuant to Section 2.19(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation obligation under this Section 2.19.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Until each Appropriate Lender funds its Revolving Loan or L/C Advance pursuant to this <u>Section 2.19(c)</u> to reimburse the relevant Issuing Bank for any amount drawn under any Letter of Credit, interest in respect of such Lender's Pro Rata Share or other applicable share provided for under this Agreement of such amount shall be solely for the account of the relevant Issuing Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Each Revolving Lender's obligation to make Revolving Loans or L/C Advances to reimburse an Issuing Bank for amounts drawn under Letters of Credit, as contemplated by this <u>Section 2.19(c)</u>, shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the relevant Issuing Bank, the Borrower or any other Person for any reason whatsoever; (B) subject to the immediately following proviso, the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; *provided* that each Revolving Lender's obligation to make Revolving

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Loans pursuant to this <u>Section 2.19(c)</u> (but not, for the avoidance of doubt, to make L/C Advances) is subject to the absence of a Payment or Bankruptcy Event of Default (but, for the avoidance of doubt, is not subject to any of the conditions set forth in <u>Article IV</u>). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the relevant Issuing Bank for the amount of any payment made by such Issuing Bank under any Letter of Credit, together with interest as provided herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;If any Revolving Lender fails to make available to the Administrative Agent for the account of the relevant Issuing Bank any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.19(c) by the time specified in Section 2.19(c)(ii), such Issuing Bank shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such Issuing Bank at a rate per annum equal to the applicable Federal Funds Rate from time to time in effect. A certificate of the relevant Issuing Bank submitted to any Revolving Lender (through the Administrative Agent) with respect to any amounts owing under this Section 2.19(c)(vi) shall be conclusive absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Repayment of Participations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;If, at any time after an Issuing Bank has made a payment under any Letter of Credit and has received from any Revolving Lender such Lender's L/C Advance in respect of such payment in accordance with Section 2.19(c), the Administrative Agent receives for the account of such Issuing Bank any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Pro Rata Share or other applicable share provided for under this Agreement hereof (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender's L/C Advance was outstanding) in the same funds as those received by the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;If any payment received by the Administrative Agent for the account of an Issuing Bank pursuant to Section 2.19(c)(i) is required to be returned under any of the circumstances described in <u>Section 10.06</u> (including pursuant to any settlement entered into by such Issuing Bank in its discretion), each Lender that is an Appropriate Lender shall pay to the Administrative Agent for the account of such Issuing Bank its Pro Rata Share or other applicable share provided for under this Agreement thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Lender, at a rate per annum equal to the applicable Federal Funds Rate from time to time in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Obligations Absolute</u>. The obligation of the Borrower to reimburse the relevant Issuing Bank for each drawing under each Letter of Credit issued by it and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other agreement or instrument relating thereto;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the existence of any claim, counterclaim, setoff, defense or other right that any Loan Party may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the relevant Issuing Bank or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;any payment by the relevant Issuing Bank under such Letter of Credit against presentation of a document that does not strictly comply with the terms of such Letter of Credit; or any payment made by the relevant Issuing Bank under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;any exchange, release or non-perfection of any Collateral, or any release or amendment or waiver of or consent to departure from the Guarantee or any other guarantee, for all or any of the Obligations of any Loan Party in respect of such Letter of Credit; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Loan Party;

*provided* that the foregoing shall not excuse any Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are waived by the Borrower to the extent permitted by applicable Law) suffered by the Borrower that are caused by such Issuing Bank's gross negligence or willful misconduct as determined in a final and non-appealable judgment by a court of competent jurisdiction when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Role of Issuing Banks</u>. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the relevant Issuing Bank shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of the Issuing Banks, any Agent nor any of the respective correspondents, participants or assignees of any Issuing Bank shall be liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Lenders holding a majority of the Revolving Commitments, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct as determined in a final and non-appealable judgment by a court of competent jurisdiction; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Letter of Credit Application. The Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; *provided* that this assumption is not intended to,

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and shall not, preclude the Borrower's pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of the Issuing Banks, any Agent, nor any of the respective correspondents, participants or assignees of any Issuing Bank, shall be liable or responsible for any of the matters described in <u>clauses (i)</u> through <u>(iv)</u> of <u>Section 2.19(e)</u>; *provided* that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against an Issuing Bank, and such Issuing Bank may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by such Issuing Bank's bad faith, willful misconduct or gross negligence or such Issuing Bank's willful or grossly negligent failure to pay under any Letter of Credit after the presentation to it by the beneficiary of documents strictly complying with the terms and conditions of a Letter of Credit, in each case as determined in a final and non-appealable judgment by a court of competent jurisdiction. In furtherance and not in limitation of the foregoing, each Issuing Bank may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and no Issuing Bank shall be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Cash Collateral.</u> If (i) as of the Latest Letter of Credit Expiration Date, any Letter of Credit may for any reason remain outstanding and partially or wholly undrawn, (ii) any Event of Default occurs and is continuing and the Administrative Agent, the applicable Issuing Banks or the Lenders holding a majority of the Revolving Commitments, as applicable, require the Borrower to Cash Collateralize the L/C Obligations pursuant to <u>Section 8.01</u> or (iii) an Event of Default set forth under <u>Section 8.01(f)</u> or <u>(g)</u> occurs and is continuing, the Borrower shall, subject to any applicable Intercreditor Agreement, Cash Collateralize the then Outstanding Amount of all L/C Obligations (in an amount equal to such Outstanding Amount determined as of the date of such Event of Default or the Latest Letter of Credit Expiration Date, as the case may be), and shall do so not later than 2:00 p.m., New York City time on (x) in the case of the immediately preceding <u>clauses (i)</u> and <u>(ii)</u>, (1) the Business Day that the Borrower receives notice thereof, if such notice is received on such day prior to 12:00 noon, New York City time or (2) if <u>clause (1)</u> above does not apply, the Business Day immediately following the day that the Borrower receives such notice and (y) in the case of the immediately preceding <u>clause (iii)</u>, the Business Day on which an Event of Default set forth under <u>Section 8.01(f)</u> or <u>(g)</u> occurs or, if such day is not a Business Day, the Business Day immediately succeeding such day. At any time that there shall exist a Defaulting Lender, within two Business Days after the request of the Administrative Agent, the Issuing Bank, the Borrower shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure (after giving effect to <u>Section 2.16(b)</u> and any Cash Collateral provided by the Defaulting Lender). For purposes hereof, "**Cash Collateralize**" means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the relevant Issuing Bank and the Appropriate Lenders, as collateral for the L/C Obligations, cash or deposit account balances ("**Cash Collateral**") in an amount no less than 102% of the aggregate amount of L/C Obligations pursuant to documentation in form and substance reasonably satisfactory to the Administrative Agent and the relevant Issuing Bank (which documents are hereby consented to by the Appropriate Lenders). Derivatives of such term have corresponding meanings. The Borrower shall grant to the Administrative Agent and/or the relevant Issuing Bank, at the election of the Administrative Agent, for the benefit of the Issuing Banks and the Revolving Lenders of the applicable Facility, to secure the payment and performance of the Obligations, a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing pursuant to documentation in form and substance reasonably satisfactory to the Administrative Agent and the relevant Issuing Bank (which documents are hereby consented to by the Appropriate Lenders). If at any time the Administrative Agent determines that any funds held as Cash Collateral are

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expressly subject to any right or claim of any Person other than the Administrative Agent (on behalf of the Secured Parties) or that the total amount of such funds is less than the aggregate Outstanding Amount of all L/C Obligations, the Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in an account established and maintained on the books and records of the Collateral Agent, which account shall be a securities account in the name of the Collateral Agent and for the benefit of the Appropriate Lenders, an amount equal to the excess of (a) such aggregate Outstanding Amount over (b) the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent reasonably determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit as Cash Collateral, such funds shall be applied, to the extent permitted under applicable Law, to reimburse the relevant Issuing Bank. To the extent the amount of any Cash Collateral exceeds the then Outstanding Amount of such L/C Obligations and so long as no Event of Default has occurred and is continuing, the excess shall be refunded to the Borrower. To the extent any Event of Default giving rise to the requirement to Cash Collateralize any Letter of Credit pursuant to this <u>Section 2.19(g)</u> is cured or otherwise waived by the Required Lenders or following the elimination of the applicable or other Obligations giving rise thereto (including by the termination of Defaulting Lender status of the applicable Lender), then so long as no other Event of Default has occurred and is continuing, all Cash Collateral pledged to Cash Collateralize such Letter of Credit shall be refunded to the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>Letter of Credit Fees</u>*.* The Borrower shall pay to the Administrative Agent for the account of the Revolving Lenders for the applicable Revolving Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Loans that are SOFR Loans *multiplied* by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); *provided*, *however*, any Letter of Credit fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Bank pursuant to this <u>Section 2.19</u> shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to <u>Section 2.16(b)</u>, with the balance of such fee, if any, payable to the Issuing Bank for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on each Quarterly Payment Date, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Latest Letter of Credit Expiration Date and thereafter on demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Fronting Fee and Documentary and Processing Charges Payable to Issuing Banks</u>*.* The Borrower shall pay directly to each Issuing Bank for its own account a fronting fee with respect to each Letter of Credit issued by it in an amount as agreed as between the Borrower and such Issuing Bank. Such fronting fees shall be computed on a quarterly basis in arrears. Such fronting fees shall be due and payable on each Quarterly Payment Date, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Latest Letter of Credit Expiration Date and thereafter on demand. In addition, the Borrower shall pay directly to each Issuing Bank for its own account with respect to each Letter of Credit issued by it such customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such Issuing Bank relating to letters of credit as from time to time in effect as agreed by the Issuing Bank and the Borrower. Such customary fees and standard costs and charges are due and payable within 10 Business Days of demand and are nonrefundable.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;<u>Conflict with Letter of Credit Application</u>*.* Notwithstanding anything else to the contrary in this Agreement, in the event of any conflict between the terms hereof and the terms of any Letter of Credit Application, the terms hereof shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;<u>Addition of an Issuing Bank</u>*.* The Borrower may, at any time and from time to time, upon written notice to the Administrative Agent, designate a Revolving Lender to become an additional Issuing Bank hereunder pursuant to a designation notice from the Borrower and accepted by such Revolving Lender. The Administrative Agent shall notify the Revolving Lenders of any such additional Issuing Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;<u>Letter of Credit Amounts</u>. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the amount available to be drawn under such Letter of Credit during the remaining life of such Letter of Credit at such time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;<u>Reporting</u>. At the request of the Administrative Agent (and no more frequently than once per calendar month), each Issuing Bank will report in writing to the Administrative Agent (i) the aggregate face amount of Letters of Credit issued by it and outstanding as of the last Business Day of the preceding calendar month (and on such other dates as the Administrative Agent may request), (ii) on or prior to each Business Day on which such Issuing Bank expects to issue, amend, renew or extend any Letter of Credit, the date of such issuance or amendment, and the aggregate face amount of Letters of Credit to be issued, amended, renewed or extended by it and outstanding after giving effect to such issuance, amendment, renewal or extension (and such Issuing Bank shall advise the Administrative Agent on such Business Day whether such issuance, amendment, renewal or extension occurred and whether the amount thereof changed), (iii) on each Business Day on which such Issuing Bank makes any L/C Disbursement, the date and amount of such L/C Disbursement and (iv) on any Business Day on which the Borrower fails to reimburse an L/C Disbursement required to be reimbursed to such Issuing Bank on such day, the date and amount of such failure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;<u>Applicability of ISP</u>. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued the rules of the ISP shall apply to each standby Letter of Credit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;<u>Provisions Related to Extended Revolving Commitments</u>. If the Latest Letter of Credit Expiration Date in respect of any tranche of Revolving Commitments occurs prior to the expiry date of any Letter of Credit, then (i) if consented to by the Issuing Bank which issued such Letter of Credit, if one or more other tranches of Revolving Commitments in respect of which the Latest Letter of Credit Expiration Date shall not have so occurred are then in effect, such Letters of Credit for which consent has been obtained shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Lenders to purchase participations therein and to make Revolving Loans and payments in respect thereof pursuant to <u>Section 2.19(c)</u> and <u>Section 2.19(d)</u>) under (and ratably participated in by Lenders pursuant to) the Revolving Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate amount of the unutilized Revolving Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding <u>clause (i)</u>, the Borrower shall Cash Collateralize any such Letter of Credit in accordance with <u>Section 2.19(g)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;<u>No Commercial Letters of Credit</u>. No commercial Letters of Credit shall be required to be issued hereunder.

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**ARTICLE III <br>TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY**

Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any and all payments made by or on account of the Borrower or any other Loan Party under any Loan Document shall be made free and clear of and without deduction or withholding for any and all present or future taxes, duties, deductions, levies, imposts, fees, assessments or withholdings (including backup withholding) or similar charges imposed by any Governmental Authority including any interest, penalties and additions to tax thereto (collectively "**Taxes**"), except as required by applicable Law. If the applicable Withholding Agent shall be required by any applicable Law (as determined in the good faith discretion of the applicable Withholding Agent) to deduct or withhold any Taxes from or in respect of any sum payable under any Loan Document to any Agent or any Lender then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable Law and, to the extent the Tax in question is an Indemnified Tax or an Other Tax , the sum payable by the Borrower or any Loan Party shall be increased as necessary so that after making all required deductions or withholdings (including any deductions or withholding of an Indemnified Tax or Other Tax applicable to additional sums payable under this <u>Section 3.01</u>), each of such Agent and such Lender receives an amount equal to the sum it would have received had no such deductions or withholding been made. Within thirty (30) days after the date of such payment (or, if receipts or evidence are not available within thirty (30) days, as soon as practicable thereafter), the Borrower or any Loan Party shall furnish to the Administrative Agent the original or a copy of a receipt issued by such Governmental Authority evidencing payment thereof or other evidence reasonably acceptable to the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees to timely pay to the relevant Governmental Authority in accordance with applicable Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower and the other Loan Parties agree to jointly and severally indemnify each Agent and each Lender, within 10 days after demand therefor, for (i) the full amount of any Indemnified Taxes and, without duplication, Other Taxes payable or paid by such Agent or such Lender, or required to be withheld or deducted from a payment to such Agent or such Lender (including Indemnified Taxes and Other Taxes imposed on or attributable to amounts payable under this <u>Section 3.01</u>) and (ii) any reasonable expenses arising therefrom or with respect thereto, in each case whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided, Borrower and the other Loan Parties shall not be liable to the extent such amounts are payable due to the fraud, gross negligence, bad faith, or willful misconduct of any Agent or Lender. A certificate as to the amount of such payment or liability prepared in good faith by such Agent or Lender (or by an Agent on behalf of such Lender) shall be conclusive absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender shall, at such times as are reasonably requested by the Borrower or the Administrative Agent, provide the Borrower and the Administrative Agent with any documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent certifying as to any entitlement of such Lender to an exemption from, or reduction in, withholding Tax with respect to any payments to be made to such Lender under the Loan Documents. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or

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not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding any other provision of this <u>clause (d)</u>, a Lender shall not be required to deliver any form pursuant to this clause (d) that such Lender is not legally eligible to deliver or any form pursuant to this <u>clause (d)</u> (other than any such documentation set forth in any of <u>Section 3.01(d)(i)</u>, <u>Section 3.01(d)(ii)</u> (other than <u>Section 3.01(d)(ii)(E)</u>) and <u>Section 3.01(d)(iii)</u> below) that may subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. Without limiting the foregoing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or before the date on which it becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent) two properly completed and duly signed copies of Internal Revenue Service Form W-9 (or any successor form) certifying that such Lender is exempt from U.S. federal backup withholding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender that is not a U.S. Person shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent on or before the date on which it becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent) whichever of the following is applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;two copies of properly completed and duly signed Internal Revenue Service Form W-8BEN or Form W-8BEN-E (or any successor forms), claiming eligibility for the benefits of an income tax treaty to which the United States is a party,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;two copies of properly completed and duly signed Internal Revenue Service Form W-8ECI (or any successor forms),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (a) a United States Tax Compliance Certificate and (b) two copies of properly completed and duly signed Internal Revenue Service Form W-8BEN or Form W-8BEN-E (or any successor forms),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;to the extent a Lender is not the beneficial owner (for example, where the Lender is a partnership), two copies of properly completed and duly signed Internal Revenue Service Form W-8IMY (or any successor forms) of the Lender, accompanied by a copy of properly completed and duly signed Internal Revenue Service Form W-8ECI, W-8BEN, W-8BEN-E, W-8IMY, W-9, a United States Tax Compliance Certificate and/or any other required information from each beneficial owner, as applicable (*provided* that, if the Lender is a partnership, and one or more direct or indirect beneficial partners of such Lender are claiming the portfolio interest exemption, the United States Tax Compliance Certificate may be provided by such Lender on behalf of each such partner), or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;two copies of any other properly completed and duly signed form prescribed by applicable U.S. federal income tax laws (including the Treasury Regulations) as a basis for claiming a complete exemption from, or a reduction in, U.S. federal withholding Tax on any payments to such Lender under the Loan Documents, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;If a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent, at the time or times prescribed by applicable Law and at such time or times reasonably requested by the Borrower and the Administrative Agent, such documentation prescribed by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA, to determine whether such Lender has or has not complied with such Lender's obligations under FATCA and, as necessary, to determine the amount to deduct and withhold from such payment. Solely for purposes of this <u>Section 3.01(d)(iii)</u>, "FATCA" shall include any amendments made to FATCA after the Closing Date.

Each such Lender shall, whenever a lapse in time or change in circumstances renders any such documentation described in this <u>Section 3.01(d)</u> obsolete or inaccurate in any material respect, deliver promptly to the Borrower and the Administrative Agent updated or other appropriate documentation (including any new documentation reasonably requested by the Borrower or the Administrative Agent) or promptly notify the Borrower and the Administrative Agent in writing of its inability to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;If the Administrative Agent (including any successor agent and any sub-agent thereof, if applicable) is not a U.S. Person, the Administrative Agent (and any successor agent or sub-agent thereof, if applicable) shall deliver to the Borrower on or before the date on which it becomes the Administrative Agent (or sub-agent) under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower) (i) a copy of an accurate and complete signed Internal Revenue Service Form W-8ECI with respect to any amounts payable to the Administrative Agent (or sub-agent) for its own account and (ii) a copy of an accurate and complete signed Internal Revenue Service Form W-8IMY with respect to any amounts payable to the Administrative Agent (or sub-agent) for the account of others, certifying that it is a "U.S. branch," and that it is using such form as evidence of its agreement with the Borrower to be treated as a U.S. Person with respect to such payments (and the Borrower and the Administrative Agent (and any sub-agent) agree to so treat the Administrative Agent (and any sub-agent thereof, if applicable) as a U.S. Person with respect to such payments as contemplated by, and in accordance with, Sections 1.1441-1(b)(2)(iv) of the Treasury Regulations). If the Administrative Agent (and any sub-agent thereof, if applicable) is a U.S. Person, it shall deliver to the Borrower on or before the date on which it becomes the Administrative Agent (or sub-agent) under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower) a copy of an accurate and complete Internal Revenue Service Form W-9 setting forth an exemption from backup withholding. The Administrative Agent shall, whenever a lapse in time or change in circumstances renders any such documentation described in this <u>Section 3.01(f)</u> obsolete or inaccurate in any material respect, deliver promptly to the Borrower updated or other appropriate documentation (including any new documentation reasonably requested by the Borrower) or promptly notify the Borrower in writing of its inability to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender or Agent determines, in its sole discretion exercised in good faith, that it has received a refund in respect of any Indemnified Taxes or Other Taxes as to which indemnification or additional amounts have been paid to it by the Borrower or any other Loan Party pursuant to this <u>Section 3.01</u>, it shall remit such refund to the Borrower or such other Loan Party (but only to the extent of indemnification or additional amounts paid by the Borrower or such other Loan Party under this <u>Section</u> 

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<u>3.01</u> with respect to Indemnified Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses (including any Taxes) of the Lender or Agent, as the case may be, and without interest (other than any interest paid by the relevant taxing authority with respect to such refund, net of any Taxes payable by any Agent or Lender on such interest); *provided* that the Borrower or such other Loan Party, upon the request of the Lender or Agent, as the case may be, agrees promptly to return such refund (*plus* any penalties, interest or other charges imposed by the relevant taxing authority) to such party in the event such party is required to repay such refund to the relevant taxing authority. Notwithstanding anything to the contrary in this <u>paragraph (g)</u>, in no event will a Lender or Agent be required to pay any amount to the Borrower or any other Loan Party pursuant to this <u>paragraph (g)</u> to the extent the payment of which would place such Lender or Agent in a less favorable net after-Tax position than such Lender or Agent would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This section shall not be construed to require any Lender or Agent to make available its Tax returns (or any other information relating to Taxes that it deems confidential) to the Borrower or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;For the avoidance of doubt, the term "Law" for purposes of this <u>Section 3.01</u> includes FATCA and the term "Lender" includes any Issuing Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Each party's obligations under this <u>Section 3.01</u> shall survive the resignation or replacement of the Administrative Agent and the Collateral Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.

Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Illegality</u>. If any Lender reasonably determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Term SOFR Loans, or to determine or charge interest rates based upon the SOFR, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (a) any obligation of such Lender to make or continue Term SOFR Loans or to convert Base Rate Loans to Term SOFR Loans shall be suspended and (b) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the Term SOFR component of Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, to be determined by the Administrative Agent without reference to the Term SOFR component of Base Rate, in each case, until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist (it being understood that such Lender agrees to so advise the Administrative Agent once the relevant circumstances giving rise to such determination no longer exists). Upon receipt of such notice, (i) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all applicable Term SOFR Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Term SOFR component of Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Term SOFR Loans to such day, or promptly, if such Lender may not lawfully continue to maintain such Term SOFR Loans and (ii) if such notice asserts the illegality of such Lender determining or charging interest rates based upon Term SOFR, the Administrative Agent shall during the period of such suspension compute Base Rate applicable to such Lender without reference to the Term SOFR component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon Term SOFR (it being understood that such Lender agrees to so advise the Administrative Agent once such illegality no longer exists). Upon any such

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prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted and all amounts due, if any, in connection with such prepayment or conversion under <u>Section 3.05</u>. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such Lender.

Section 3.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Replacement Setting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Replacement</u>. Notwithstanding anything to the contrary herein or in any other Loan Document, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with <u>clause (a)</u> of the definition of "Benchmark Replacement" for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with <u>clause (b)</u> of the definition of "Benchmark Replacement" for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders. If the Benchmark Replacement is Daily Simple SOFR, all interest payments will be payable on a quarterly basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;No Hedging Agreement shall be deemed to be a "Loan Document" for purposes of this <u>Section 3.03</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Replacement Conforming Changes</u>. In connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes (in consultation with the Borrower) from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices; Standards for Decisions and Determinations</u>. The Administrative Agent will promptly notify the Borrower and the Lenders of (i) the implementation of any Benchmark Replacement and (ii) the effectiveness of any Benchmark Replacement Conforming Changes in connection with the use, administration, adoption or implementation of a Benchmark Replacement. The Administrative Agent will promptly notify the Borrower of the removal or reinstatement of any tenor of a Benchmark pursuant to <u>Section 3.03(d)</u>. Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this <u>Section 3.03</u>, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection,

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will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this <u>Section 3.03</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Unavailability of Tenor of Benchmark</u>. Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Reference Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the administrator of such Benchmark or the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is not or will not be representative, then the Administrative Agent may modify the definition of "Interest Period" (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable, non-representative, non-compliant or non-aligned tenor and (ii) if a tenor that was removed pursuant to <u>clause (i)</u> above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is not or will not be representative (including a Benchmark Replacement), then the Administrative Agent may modify the definition of "Interest Period" (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Unavailability Period</u>. Upon the Borrower's receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a Term SOFR Loan of, conversion to or continuation of a Term SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of Base Rate.

Section 3.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Increased Cost and Reduced Return; Capital Adequacy; Reserves on Term SOFR Loans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender reasonably determines that as a result of the introduction of or any change in or in the interpretation of any Law, in each case after the Closing Date, or such Lender's compliance therewith, there shall be any increase in the cost to such Lender of agreeing to make or making, funding or maintaining any Term SOFR Loans or a reduction in the amount received or receivable by such Lender in connection with any of the foregoing (excluding for purposes of this <u>Section 3.04(a)</u> any such increased costs or reduction in amount resulting from (i) Indemnified Taxes, (ii) Excluded Taxes or Other Taxes or (iii) reserve requirements contemplated by <u>Section 3.04(c)</u>) and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining the Term SOFR Loan (or of making or maintaining its obligations to make any Loan), or to reduce the amount of any sum received or receivable by such Lender, then from time to time within fifteen (15) days after demand by such Lender setting forth in reasonable detail such increased costs (with a copy of such demand to the Administrative Agent given in accordance with <u>Section 3.06</u>), the Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such increased cost or reduction. Notwithstanding anything herein to the contrary, for all purposes under this Agreement, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International

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Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a change in law, regardless of the date enacted, adopted or issued; *provided*, that to the extent any increased costs or reductions are incurred by any Lender as a result of any requests, rules, guidelines or directives promulgated under the Dodd-Frank Wall Street Reform and Consumer Protection Act or pursuant to Basel III after the Closing Date, then such Lender shall be compensated pursuant to this <u>Section 3.04</u> only if such Lender imposes such charges under other syndicated credit facilities involving similarly situated borrowers that such Lender is a lender under.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender reasonably determines that the introduction of any Law regarding capital adequacy or any change therein or in the interpretation thereof, in each case after the Closing Date, or compliance by such Lender (or its Lending Office) therewith, has the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such Lender as a consequence of such Lender's obligations hereunder (taking into consideration its policies with respect to capital adequacy and such Lender's desired return on capital), then from time to time upon demand of such Lender setting forth in reasonable detail the charge and the calculation of such reduced rate of return (with a copy of such demand to the Administrative Agent given in accordance with <u>Section 3.06</u>), the Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such reduction within fifteen (15) days after receipt of such demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall pay to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including SOFR funds or deposits, additional interest on the unpaid principal amount of each applicable Term SOFR Loan of the Borrower equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive in the absence of manifest error), and (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of any Term SOFR Loans of the Borrower, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error) which in each case shall be due and payable on each date on which interest is payable on such Loan, *provided* the Borrower shall have received at least fifteen (15) days' prior notice (with a copy to the Administrative Agent) of such additional interest or cost from such Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest or cost shall be due and payable fifteen (15) days from receipt of such notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Failure or delay on the part of any Lender to demand compensation pursuant to this <u>Section 3.04</u> shall not constitute a waiver of such Lender's right to demand such compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender requests compensation under this <u>Section 3.04</u>, then such Lender will, if requested by the Borrower, use commercially reasonable efforts to designate another Lending Office for any Loan affected by such event; *provided* that such efforts are made on terms that, in the reasonable judgment of such Lender, cause such Lender and its Lending Office(s) to suffer no material economic, legal or regulatory disadvantage, and *provided further* that nothing in this <u>Section 3.04(e)</u> shall affect or postpone any of the Obligations of the Borrower or the rights of such Lender pursuant to <u>Section 3.04(a)</u>, <u>(b)</u>, <u>(c)</u> or <u>(d)</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;For the avoidance of doubt, the term "Lender" for purposes of this <u>Section 3.04</u> includes any Issuing Bank.

Section 3.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Funding Losses</u>. Upon written demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense actually incurred by it as a result of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any continuation, conversion, payment or prepayment of any Term SOFR Loan of the Borrower on a day other than the last day of the Interest Period for such Loan; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Term SOFR Loan of the Borrower on the date or in the amount notified by the Borrower; including any loss or expense (excluding loss of anticipated profits) arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained.

For purposes of calculating amounts payable by the Borrower to the Lenders under this <u>Section 3.05</u>, each Lender shall be deemed to have funded each Term SOFR Loan made by it Term SOFR for such Loan by a matching deposit or other borrowing in the secured overnight market for a comparable amount and for a comparable period, whether or not such Term SOFR Loan was in fact so funded.

Section 3.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Matters Applicable to All Requests for Compensation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any Agent or any Lender claiming compensation under this <u>Article III</u> shall deliver a certificate to the Borrower setting forth the additional amount or amounts to be paid to it hereunder which shall be conclusive in the absence of manifest error. In determining such amount, such Agent or such Lender may use any reasonable averaging and attribution methods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;With respect to any Lender's claim for compensation under <u>Section 3.04</u>, the Borrower shall not be required to compensate such Lender for any amount incurred more than one hundred eighty (180) days prior to the date that such Lender notifies the Borrower of the event that gives rise to such claim; *provided* that, if the circumstance giving rise to such claim is retroactive, then such one hundred eighty (180)-day period referred to above shall be extended to include the period of retroactive effect thereof. If any Lender requests compensation by the Borrower under <u>Section 3.04</u>, the Borrower may, by notice to such Lender (with a copy to the Administrative Agent), suspend the obligation of such Lender to make or continue from one Interest Period to another applicable Term SOFR Loan, or, if applicable, to convert Base Rate Loans into Term SOFR Loans, until the event or condition giving rise to such request ceases to be in effect (in which case the provisions of <u>Section 3.06(c)</u> shall be applicable); *provided* that such suspension shall not affect the right of such Lender to receive the compensation so requested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If the obligation of any Lender to make or continue any Term SOFR Loan, or to convert Base Rate Loans into Term SOFR Loans shall be suspended pursuant to <u>Section 3.06(b)</u> hereof, such Lender's applicable Term SOFR Loans shall be automatically converted into Base Rate Loans (or, if such conversion is not possible, repaid) on the last day(s) of the then current Interest Period(s) for such Term SOFR Loans (or, in the case of an immediate conversion required by <u>Section 3.02</u>, on such earlier date as required by Law) and, unless and until such Lender gives notice as provided below that the circumstances specified in <u>Section 3.02</u> hereof that gave rise to such conversion no longer exist:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to the extent that such Lender's Term SOFR Loans have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's applicable Term SOFR Loans shall be applied instead to its Base Rate Loans; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;all Loans that would otherwise be made or continued from one Interest Period to another by such Lender as Term SOFR Loans shall be made or continued instead as Base Rate Loans (if possible), and all Base Rate Loans of such Lender that would otherwise be converted into Term SOFR Loans shall remain as Base Rate Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in <u>Section 3.02</u> hereof that gave rise to the conversion of any of such Lender's Term SOFR Loans pursuant to this <u>Section 3.06</u> no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Term SOFR Loans made by other Lenders under the applicable Facility are outstanding, if applicable, such Lender's Base Rate Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Term SOFR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding Term SOFR Loans under such Facility and by such Lender are held pro rata (as to principal amounts, interest rate basis, and Interest Periods) in accordance with their respective Commitments for the applicable Facility.

Section 3.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Replacement of Lenders under Certain Circumstances</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If at any time (i) the Borrower becomes obligated to pay additional amounts or indemnity payments described in <u>Section 3.01</u> or <u>3.04</u> as a result of any condition described in such Sections or any Lender ceases to make any Term SOFR Loans as a result of any condition described in <u>Section 3.02</u> or <u>Section 3.04</u>, (ii) any Lender becomes a Defaulting Lender or (iii) any Lender becomes a Non-Consenting Lender, then the Borrower may so long as no Event of Default has occurred and is continuing, at its sole cost and expense, on five (5) Business Days' prior written notice (or such shorter time as the Administrative Agent may agree) to the Administrative Agent and such Lender, (x) replace such Lender by causing such Lender to (and such Lender shall be obligated to) assign pursuant to <u>Section 10.07(b)</u> (with the assignment fee to be paid by the Borrower in such instance) all of its rights and obligations under this Agreement (in respect of any applicable Facility only in the case of <u>clause (i)</u> or, with respect to a Class vote, <u>clause (iii)</u>) to one or more Eligible Assignees; *provided* that neither the Administrative Agent nor any Lender shall have any obligation to the Borrower to find a replacement Lender or other such Person; and *provided further* that (A) in the case of any such assignment resulting from a claim for compensation under <u>Section 3.04</u> or payments required to be made pursuant to <u>Section 3.01</u>, such assignment will result in a reduction in such compensation or payments, (B) in the case of any such assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable Eligible Assignees shall have agreed to, and shall be sufficient (together with all other consenting Lenders) to cause the adoption of, the applicable departure, waiver or amendment of the Loan Documents and (C) in the case of any such assignment resulting from payments required to be made pursuant to <u>Section 3.01</u>, such Lender has declined or is unable to designate a different Lending Office in accordance <u>Section 3.01(e)</u>; or (y) terminate the Commitment of such Lender (in respect of any applicable Facility only in the case of <u>clause (i)</u> or <u>clause (iii)</u>), as the case may be, and repay all Obligations of the Borrower owing to such Lender relating to the Loans and participations held by such Lender as of such termination date; *provided* that in the case of any such termination of a Non-Consenting Lender such termination shall be sufficient (together with all other consenting Lenders) to cause the adoption of the applicable departure, waiver or amendment of the Loan Documents and such termination shall be in respect of any applicable Facility only in the case of <u>clause (i)</u> or, with respect to a Class vote, <u>clause (iii)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender being replaced pursuant to <u>Section 3.07(a)(iii)(x)</u> above shall (i) execute and deliver an Assignment and Assumption with respect to such Lender's applicable Commitment and outstanding Loans, and (ii) deliver any Notes evidencing such Loans to the Borrower or Administrative

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Agent. Pursuant to such Assignment and Assumption, (A) the assignee Lender shall acquire all or a portion, as the case may be, of the assigning Lender's Commitment and outstanding Loans, (B) all obligations of the Borrower owing to the assigning Lender relating to the Loans, Commitments and participations so assigned shall be paid in full by the assignee Lender to such assigning Lender concurrently with such Assignment and Assumption and (C) upon such payment and, if so requested by the assignee Lender, delivery to the assignee Lender of the appropriate Note or Notes executed by the Borrower, the assignee Lender shall become a Lender hereunder and the assigning Lender shall cease to constitute a Lender hereunder with respect to such assigned Loans, Commitments and participations, except with respect to indemnification provisions under this Agreement, which shall survive as to such assigning Lender. In connection with any such replacement, if any such Non-Consenting Lender or Defaulting Lender does not execute and deliver to the Administrative Agent a duly executed Assignment and Assumption reflecting such replacement within five (5) Business Days of the date on which the assignee Lender executes and delivers such Assignment and Assumption to such Non-Consenting Lender or Defaulting Lender, then such Non-Consenting Lender or Defaulting Lender shall be deemed to have executed and delivered such Assignment and Assumption without any action on the part of the Non-Consenting Lender or Defaulting Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In the event that (i) the Borrower or the Administrative Agent has requested that the Lenders consent to a departure or waiver of any provisions of the Loan Documents or agree to any amendment thereto, (ii) the consent, waiver or amendment in question requires the agreement of each Lender, each affected Lender or each affected Lender of a certain Class in accordance with the terms of <u>Section 10.01</u> or all the Lenders with respect to a certain Class of the Loans and (iii) the Required Lenders (or, in the case of a consent, waiver or amendment involving all affected Lenders of a certain Facility, the Required Class Lenders as applicable) have agreed to such consent, waiver or amendment, then any Lender who does not agree to such consent, waiver or amendment shall be deemed a "**Non-Consenting Lender**".

Section 3.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. Each of the obligations of the parties hereto under this <u>Article III</u> shall survive termination of the Aggregate Commitments and repayment of all other Obligations hereunder.

**ARTICLE IV <br>CONDITIONS PRECEDENT TO BORROWINGS**

Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to Closing and Initial Borrowing</u>. The occurrence of the Closing Date and the obligation of each Lender to fund any Borrowing hereunder on the Closing Date is subject to satisfaction of the following conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent's receipt of the following, each of which shall be originals or ".pdf" copies or other electronic copies (followed promptly by originals if requested by the Administrative Agent) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party each in form and substance reasonably satisfactory to the Administrative Agent and its legal counsel:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if any Loans hereunder are to be borrowed on the Closing Date, a Committed Loan Notice, in accordance with the requirements hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;executed counterparts of this Agreement and the First Lien Intercreditor Agreement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;each Collateral Document set forth on <u>Schedule 1.01B</u> as required to be executed on the Closing Date as indicated on such schedule, duly executed by each Loan Party thereto, together with, in each case, solely to the extent required by the Collateral and Guarantee Requirement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;certificates, if any, representing the equity interests in the Borrower and owned by the Borrower accompanied by undated stock or membership interest powers executed in blank and instruments evidencing the Pledged Debt indorsed in blank (or confirmation in lieu thereof reasonably satisfactory to the Administrative Agent or its counsel that such certificates, powers and instruments have been sent for overnight delivery to the Collateral Agent or its counsel);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;copies of proper financing statements, filed or duly prepared for filing under the Uniform Commercial Code in all United States jurisdictions that the Administrative Agent may deem reasonably necessary in order to perfect and protect the Liens created under (1) the Security and Depositary Agreement on assets of the Borrower, covering the Collateral described in the Security and Depositary Agreement and (2) the Pledge Agreement on assets of the Parent, covering the Collateral described in the Pledge Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;evidence that all other actions, recordings and filings required by the Collateral Documents as of the Closing Date that the Administrative Agent may deem reasonably necessary to satisfy the Collateral and Guarantee Requirement shall have been taken, completed or otherwise provided for in a manner reasonably satisfactory to the Administrative Agent (it being understood that the Borrower hereby provides authorization to the Administrative Agent to take such actions or make such recordings and filings that can be taken or made by the Administrative Agent or the Collateral Agent and to the extent agreed to be taken or made by the Administrative Agent or Collateral Agent, such actions, recordings and filings shall be reasonably satisfactory to the Administrative Agent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;copies of a recent Lien, judgment and litigation search in each jurisdiction reasonably requested by the Administrative Agent with respect to the Loan Parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;a certificate signed by a Responsible Officer, dated as of the Closing Date, certifying that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;attached to such certificate is a true and complete copy of one or more certificates of the Secretary of State of the jurisdiction of formation of each Loan Party dated reasonably near the Closing Date certifying (I) as to a true and correct copy of the certificate of formation of such Loan Party and each amendment thereto on file in such Secretary of State's office (or its jurisdictional equivalent, as applicable) and (II) that (1) such amendments are the only amendments to such Loan Party's constitutional documents on file in such Secretary of State's office (or its jurisdictional equivalent, as applicable) and (2) such Loan Party is duly formed and in good standing or presently subsisting under the laws of the applicable jurisdiction of formation;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;attached to such certificate is a true and complete copy of the limited liability company agreement, operating agreement, bylaws or comparable governing documents of each Loan Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;attached to such certificate is a true and complete copy of the valid resolutions relating to the authorization, execution and delivery of each Loan Document to which such Loan Party is a party; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;attached to such certificate is a true and complete copy of the incumbency and signatures of the Persons authorized to execute and deliver on its behalf the Loan Documents to which it is or is to be a party and any other documents in connection with the transactions contemplated hereby and thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;an opinion from Latham & Watkins LLP, New York counsel to the Loan Parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;a solvency certificate, substantially in the form of <u>Exhibit C-2</u> hereto, from the chief financial officer, chief accounting officer, manager or other officer with equivalent duties of the Borrower (after giving effect to the Transactions);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate, dated the Closing Date and signed by a Responsible Officer of the Borrower, confirming satisfaction of the conditions set forth in <u>Section 4.01(c)</u>, <u>(d)</u>, <u>(g)</u>, <u>(m)</u>, <u>(n)</u>, <u>(o)</u> and <u>(p)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;All reasonable and documented out-of-pocket expenses pursuant to the Fee Letters due to the Administrative Agent, the Collateral Agent, the Lead Arrangers and their respective Affiliates required to be paid on the Closing Date and (in the case of expenses) invoiced at least three (3) Business Days before the Closing Date (except as otherwise reasonably agreed by the Borrower) shall have been paid from the proceeds of the initial funding under the Facilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The representations and warranties of each Loan Party set forth in <u>Article V</u> and in each other Loan Document shall be true and correct in all material respects (except that any representation and warranty that is qualified as to "materiality" or "Material Adverse Effect" shall be true and correct in all respects as so qualified) on and as of the Closing Date, except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall be true and correct in all material respects (except that any representation and warranty that is qualified as to "materiality" or "Material Adverse Effect" are true and correct in all respects as so qualified) as of such earlier date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;No Default or Event of Default shall exist and be continuing or would immediately result from any initial Borrowing on the Closing Date hereunder or from the application of the proceeds therefrom.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent shall have received copies of (i) a consolidated pro forma balance sheet of the Borrower, dated June 30, 2025 and (ii) (x) the unaudited consolidated balance sheet of the Borrower as of June 30, 2025, (y) the unaudited consolidated statement of operations of the Borrower for the quarter ended on June 30, 2025 and the portion of the fiscal year through the end of such quarter, and (z) the unaudited consolidated statement of cash flows of the Borrower for the portion of the fiscal year through the end of such quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender shall have received at least three (3) Business Days prior to the Closing Date all documentation and other information about the Loan Parties required under applicable Anti-Money

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Laundering Laws, including, without limitation, applicable "know your customer" rules and the USA PATRIOT Act, that has been reasonably requested by such Lender in writing at least ten (10) Business Days prior to the Closing Date. At least three (3) Business Days prior to the Closing Date, if the Borrower qualifies as a "legal entity customer" under the Beneficial Ownership Regulation, then the Borrower shall have delivered to the Administrative Agent a Beneficial Ownership Certification in relation to the Borrower on the form promulgated by the Loan Syndications and Trading Association.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Since December 31, 2024, there shall not have been or occurred any event, change, fact, development, circumstance, condition or occurrence that has had or would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>Consultant Reports</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Report of the Independent Engineer*. The Administrative Agent shall have received a technical due diligence report of the Independent Engineer, which shall state that (or a letter from the Independent Engineer shall have been delivered stating that) each Lender shall be entitled to rely on such report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;*Report of the Insurance Consultant.* The Administrative Agent shall have received a report of the Insurance Consultant, which shall state that (or a letter from the Insurance Consultant shall have been delivered stating that) each Lender shall be entitled to rely on such report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;*Report of the Market Consultant*. The Administrative Agent shall have received a report of the Market Consultant, and a letter from the Market Consultant shall have been delivered stating that each Lender shall be entitled to rely on such report to the extent they countersign such letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;*Report of the Commercial Consultant*. The Administrative Agent shall have received a report of the Commercial Consultant, which shall state that (or a letter from the Commercial Consultant shall have been delivered stating that) each Lender shall be entitled to rely on such report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall have obtained the applicable Insurance Policies that are required to be in effect as of the Closing Date pursuant to <u>Section 6.22</u>. The Administrative Agent shall have received copies of the certificates of insurance reflecting (i) in the case of liability insurance, the Collateral Agent, on behalf of the Secured Parties as an additional insured thereunder as its interests may appear and (ii) in the case property insurance, an additional loss payable clause that names the Collateral Agent, on behalf of the Secured Parties as an additional loss payee thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;[<u>Reserved</u>].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;The Sponsors shall have made (or shall make substantially concurrently with the initial Borrowing under this Agreement) an Equity Contribution to the Borrower in an amount at least equal to the Required Equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall have delivered to the Administrative Agent true and complete copies of (i) all Material Project Documents required to be in effect as of the Closing Date, (ii) the CP2/Matterhorn Consent Agreement and (iii) the O&M Consent Agreement, and, in each case, each such document shall have been duly executed and delivered by the Persons intended to be parties thereto, shall

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be in full force and effect and recorded (where applicable) and shall be in form and substance reasonably satisfactory to the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall have delivered to the Administrative Agent an electronic copy of the financial model for the Project (the "**Closing Date Financial Model**"), which Closing Date Financial Model shall (i) include the underlying models and the incorporation of appropriate operating assumptions agreed by the Independent Engineer, in each case, containing projections of revenues and cash flows with respect to the Project and proving resistance to reasonable sensitivities and downside scenarios, (ii) be consistent in all material respects with the applicable terms and conditions of the Loan Documents and the Material Project Documents, (iii) include at least the minimum Required Equity, (iv) demonstrate a minimum forecast Debt Service Coverage Ratio (excluding, for the avoidance of doubt, mandatory prepayments under <u>Section 2.03(b)(i)</u>) of not less than 1.30:1.00, and (v) otherwise be in form and substance reasonably satisfactory to each initial Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent shall have received a copy of each of (i) the Construction Budget and (ii) the Project Schedule, in each case certified as such by a Responsible Officer, and in form and substance reasonably acceptable to each Lender in consultation with the Independent Engineer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;The Construction Contractors are, as of the Closing Date, in material compliance with the construction schedules set forth in the Construction Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth on <u>Schedule 4.01(p)</u>, all Permits necessary for the development, construction, operation, maintenance and management of the Project (A) have been obtained, filed or made with the corresponding Governmental Authorities, as applicable, (B) are in full force and effect and (C) except as disclosed on <u>Schedule 4.01(p)</u>, are not be subject to any pending appeal or other proceedings that if determined adversely, would reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;No investigations, actions, suits, proceedings, claims or disputes pending or, to the Borrower's knowledge, threatened in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against any Loan Party or against any of their respective properties or revenues shall exist that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

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

Section 4.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to All Credit Extensions after the Closing Date</u>. The obligation of each Lender to fund any Borrowing or make any other Credit Extensions hereunder after the Closing Date is subject to satisfaction (or waiver in accordance with <u>Section 10.01</u>) of the following conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The conditions set forth in <u>Section 4.01</u> have been satisfied or waived in accordance with <u>Section 10.01</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;No Default or Event of Default shall have occurred and be continuing or would result after giving effect to such Credit Extension.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;With respect to any Borrowing of Term Loans, since the Closing Date, no event, circumstance or condition has occurred and is continuing that has had or would reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The representations and warranties of each Loan Party set forth in <u>Article V</u> and in each other Loan Document are be true and correct in all material respects (except that any representation and warranty that is qualified as to "materiality" or "Material Adverse Effect" shall be true and correct in all respects as so qualified) on and as of the proposed date of the Credit Extension, except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall be true and correct in all material respects (except that any representation and warranty that is qualified as to "materiality" or "Material Adverse Effect" are true and correct in all respects as so qualified) as of such earlier date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;With respect to any Borrowing of Term Loans, the Borrower shall deliver a certificate of the Independent Engineer certifying that (i) ISD for the Project is capable of being achieved by the Date Certain and (ii) the Borrower has sufficient funds available to achieve ISD for the Project.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall have delivered a Committed Loan Notice or a Letter of Credit Application, as applicable, in accordance with the requirements hereof .

**ARTICLE V <br>REPRESENTATIONS AND WARRANTIES**

Each of the Borrower and the Permitted Subsidiary (and, solely to the extent applicable to it, the Parent) represents and warrants to the Agents and the Lenders as of the Closing Date that: 

Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Existence, Qualification and Power; Compliance with Laws</u>. Each Loan Party (a) is a Person duly organized or formed, validly existing and in good standing (where relevant) under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority to (i) own or lease its assets and carry on its business as currently conducted and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, (c) is duly qualified and in good standing (where relevant) under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, (d) is in material compliance with all Laws, orders, writs and injunctions and (e) has all requisite governmental licenses, authorizations, consents and approvals to operate its business as currently conducted; except in each case, referred to in <u>clauses (c)</u> or <u>(e)</u>, to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect.

Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorization; No Contravention</u>. The execution, delivery and performance by each Loan Party of each Loan Document to which it is a party, and the consummation of the Transactions, are within such Loan Party's corporate or other powers, (a) have been duly authorized by all necessary corporate or other organizational action, and (b) do not (i) contravene the terms of any of such Person's Organization Documents, (ii) conflict with or result in any breach or contravention of, or the creation of any Lien under (other than as permitted by <u>Section 7.01</u>), or require any payment to be made under (x) any Contractual Obligation to which it is a party or affecting it or its properties or (y) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which it or its property is subject; or (iii) violate any Law binding on it; in each case of this clause (b), to the extent that such

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violation, conflict, breach, contravention or payment would not reasonably be expected to have a Material Adverse Effect.

Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Governmental Authorization</u>. No material approval, consent, exemption, authorization or other action by, or notice to, or filing with, any Governmental Authority is necessary or required in connection with (a) the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, or for the consummation of the Transactions, (b) the grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents, (c) the perfection or maintenance of the Liens created under the Collateral Documents (including the priority thereof) or (d) the exercise by the Administrative Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the Collateral Documents, except for (i) filings, recordings and registrations with Governmental Authorities necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties, (ii) filings, recordings and registrations with Governmental Authorities to the extent required by Regulation T, U or X promulgated by the FRB, and (iii) the approvals, consents, exemptions, authorizations, actions, notices and filings which have been duly obtained, taken, given or made and are in full force and effect (except to the extent not required to be obtained, taken, given or made or to be in full force and effect pursuant to the Collateral and Guarantee Requirement).

Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Effect</u>. This Agreement and each other Loan Document has been duly executed and delivered by each Loan Party that is a party thereto. This Agreement and each other Loan Document constitutes, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is a party thereto in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity.

Section 5.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Statements; No Material Adverse Effect</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The forecasts of consolidated balance sheets and consolidated statements of income and cash flow (including the Projections) of the Borrower which have been furnished to the Administrative Agent prior to the Closing Date have been prepared in good faith on the basis of the assumptions stated therein, which assumptions were believed to be reasonable at the time of preparation of such forecasts, it being understood that such forecasts are as to future events and not to be viewed as facts, such forecasts are subject to significant uncertainties and contingencies, many of which are beyond the Borrower's control, that no assurance can be given that any particular projections will be realized and actual results may vary from such forecasts and that such variations may be material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Since June 30, 2025, there has been no event or circumstance, either individually or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;As of the Closing Date, no Loan Party has any Indebtedness or other obligations or liabilities, direct or contingent (other than (i) the liabilities reflected on <u>Schedule 5.05</u>, (ii) obligations arising under the Loan Documents and (iii) liabilities incurred in the ordinary course of business that, either individually or in the aggregate, are not material).

Section 5.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Litigation</u>. There are no actions, suits, proceedings, claims or disputes pending or, to the Borrower's knowledge, threatened in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against any Loan Party or against any of their respective properties or revenues that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

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Section 5.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Environmental Matters</u>. Except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;each Loan Party and its respective assets and operations are and, other than any matters which have been finally resolved without further liability or obligation, within the past three (3) years have been, in compliance with all Environmental Laws, which includes obtaining, maintaining in full force and effect, and complying with all Environmental Permits required under such Environmental Laws to carry on the business of the Loan Parties as currently conducted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;no Loan Party is subject to any Environmental Liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Loan Parties have not received any written notice that alleges any of them is in violation of any Environmental Laws or subject to any Environmental Liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;none of the Loan Parties or any of their respective real property is the subject of any claims, investigations, liens, or judicial or administrative proceedings pending or, to the Borrower's knowledge, threatened, under any Environmental Law, including with respect to any of the foregoing that would result in the revocation, suspension or adverse modification of any Environmental Permit held by any of the Loan Parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;no Release of Hazardous Materials has occurred on real property or facilities currently owned or leased by any of the Loan Parties or, to the Borrower's knowledge, real property or facilities formerly owned, operated or leased by the Loan Parties that would reasonably be expected to require investigation, remedial activity or corrective action or cleanup by any Loan Party pursuant to any Environmental Law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower and the Project are in compliance with the Equator Principles.

Section 5.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. Each of the Loan Parties have filed all income tax returns and all other material tax returns and reports required to be filed, and have paid all Taxes levied or imposed upon them or their properties, income or assets that are due and payable, except those (i) the amount of which, individually or in the aggregate, is not material or (ii) which are being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP. There is no proposed Tax deficiency or assessment known to any Loan Party against the Loan Parties that would, if payment of such proposed Tax deficiency or assessment is made, either individually or in the aggregate, have a Material Adverse Effect. The charges, accruals and reserves on the books of the Loan Parties in respect of federal, national, state or other taxes for all fiscal periods are adequate. There are no Liens for Taxes on any assets of the Loan Parties, other than Permitted Liens, and, to the knowledge of a Responsible Officer, no claim is being asserted, with respect to any such Tax.

Section 5.09&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA Compliance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, each Plan maintained by a Loan Party or ERISA Affiliate is in compliance with the applicable provisions of ERISA and the Code and the regulations and published interpretations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) No ERISA Event has occurred during the five (5) year period prior to the date on which this representation is made or deemed made or is reasonably expected to occur; (ii) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under

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Section 4007 of ERISA); (iii) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Section 4201 of ERISA with respect to a Multiemployer Plan; and (iv) neither any Loan Party nor any ERISA Affiliate has engaged in a transaction that could reasonably be expected to be subject to Sections 4069 or 4212(c) of ERISA, except, with respect to each of the preceding clauses of this <u>Section 5.09(b)</u>, as would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;(i) The Plans of any Loan Party and any ERISA Affiliate are funded to the extent required by the terms of each Plan, if any, and by Law or otherwise to comply with the requirements of any Law applicable in the jurisdiction in which the relevant pension scheme is maintained, and (ii) neither any Loan Party nor any ERISA Affiliate maintains or contributes to a Plan that is, or is expected to be, in at-risk status (as defined in Section 303(i)(4) of ERISA or Section 430(i)(4) of the Code), except, with respect to each of the preceding clauses of this <u>Section 5.09(c)</u>, as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

Section 5.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsidiaries</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;As of the Closing Date, the Borrower has no Subsidiaries other than the Permitted Subsidiary and has no other equity or other interest in or otherwise controls any Voting Stock of or has any direct or indirect ownership interest in, any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;As of the Closing Date, the Parent has no Subsidiaries other than the Borrower and the Permitted Subsidiary and has no other equity or other interest in or otherwise controls any Voting Stock of or has any direct or indirect ownership interest in, any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;As of the Closing Date, the Permitted Subsidiary has no Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;As of the Closing Date, all of the outstanding Equity Interests of the Borrower and the Permitted Subsidiary have been validly issued and are fully paid and all Equity Interests owned by the Parent in the Borrower and by the Borrower in the Permitted Subsidiary are owned free and clear of all Liens except (i) those created under the Collateral Documents and (ii) any Lien that is not prohibited by <u>Section 7.01</u>.

Section 5.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Margin Regulations; Investment Company Act</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;No Loan Party is engaged, nor will any Loan Party engage, principally or as one of its important activities, in the business of purchasing or carrying Margin Stock, or extending credit for the purpose of purchasing or carrying Margin Stock, in either case in violation of Regulation U.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;No part of the proceeds of any Loan or Letter of Credit will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that entails a violation of the regulations of the FRB, including Regulation T, U or X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;No Loan Party, nor any Person Controlling a Loan Party, is or is required to be registered as an "investment company" under the Investment Company Act of 1940.

Section 5.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure</u>. As of the Closing Date, no report, financial statement, certificate or other written information furnished by or on behalf of any Loan Party (other than projected financial information and information of a general economic or industry nature) to any Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered

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hereunder or under any other Loan Document (as modified or supplemented by other information so furnished), when taken as a whole, contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements therein (when taken as a whole), in the light of the circumstances under which they were made, not materially misleading. With respect to projected financial information and *pro forma* financial information, the Borrower represents, as of the Closing Date, that such information was prepared in good faith based upon assumptions believed to be reasonable at the time of preparation; it being understood that such projections may vary from actual results and that such variances may be material.

Section 5.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Solvency</u>. On the Closing Date, after giving effect to the Transactions, the Loan Parties, on a consolidated basis, are Solvent.

Section 5.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Sanctions; Anti-Corruption Laws; and Anti-Money Laundering Laws</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Loan Party is in compliance, in all material respects, with applicable Sanctions, Anti-Corruption Laws, and Anti-Money Laundering Laws. Each Loan Party, either itself of through its direct or indirect Subsidiaries with active business operations, maintains and enforces or is subject to, as the case may be, policies and procedures reasonably designed to promote and achieve compliance with applicable Anti-Corruption Laws, Anti-Money Laundering Laws and Sanctions by such Loan Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;None of the Loan Parties or any of the respective directors, officers, employees or agents of any of the Loan Parties is a Sanctioned Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;None of the Loan Parties will use any part of the proceeds of the Loans, directly or knowingly indirectly, (i) in violation of any applicable Anti-Corruption Laws or Anti-Money Laundering Laws; (ii) to fund, finance or facilitate any activities, dealings or business, with any Sanctioned Person or Sanctioned Country; or (iii) in any manner that would constitute or give rise to a violation of Sanctions by any Person.

Section 5.16&nbsp;&nbsp;&nbsp;&nbsp;<u>No Default</u>. No Default or Event of Default, and no Default (as defined in the TLB Credit Agreement) or Event of Default (as defined in the TLB Credit Agreement), has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document.

Section 5.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Title to Properties</u>. Each Loan Party holds good and legal title to, or interest in, all revenues, properties or assets that it owns, or leases, or holds an easement interest in, and on which it

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purports to grant Liens pursuant to the Collateral Documents, including all Project assets, and such property is not subject to any Liens other than Permitted Liens.

Section 5.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Material Project Documents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower is in compliance in all material respects with each Material Project Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;To the Borrower's knowledge, each Material Project Counterparty is in compliance with the Material Project Documents to which it is party, except, in either case, where such failure to comply would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Section 5.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Pari Passu</u>. The Loan Parties' obligations under the Loan Documents are secured and unsubordinated obligations and rank at least *pari passu* in priority of payment with all unsecured obligations of the Loan Parties outstanding at any time except for any obligations of the Loan Parties (including any pension, social security and employment obligations) held by those whose claims are preferred under any bankruptcy or insolvency procedures to the extent required by the terms of any applicable Law.

Section 5.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u>. The proceeds of the Initial Term Loans received from time to time during the TLA Availability Period shall be used to (i) fund a portion of the Project Costs, (ii) fund the Project Accounts in accordance with the Security and Depositary Agreement and (iii) fund the Transaction Expenses. The proceeds of the Initial Revolving Loans received from time to time during the Revolver Availability Period shall be used to (i) provide credit support in respect to the obligations of the Loan Parties under the Project Documents, (ii) fund the Initial Debt Service Reserve Account, including through the issuance of one or more DSR L/Cs and (iii) provide for working capital and other general corporate purposes.

<u>Section 5.21&nbsp;&nbsp;&nbsp;&nbsp;Licenses, Permits, Etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All Permits necessary under applicable Law in connection with (i) each Loan Party's execution, delivery and performance of the Loan Documents and Material Project Documents to which it is a party or (ii) the Borrower's ownership, construction, operation and maintenance of the Project as necessary for the Borrower to conduct its business and comply with its obligations under this Agreement and the TLA/Revolver Credit Agreement are collectively set forth on Schedule 4.01(p), other than non-material Permits that are of a routine nature and generally obtainable in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Permits set forth on Part A of Schedule 4.01(p) constitute all Permits that are required to be or have been obtained as of the date hereof in connection with the current stage of construction, management and/or operation of the Project, except for any non-material Permits that are of a routine nature and generally obtainable in the ordinary course of business, for (i) each Loan Party's execution and delivery of the Loan Documents and Material Project Documents to which it is a party and (ii) the Borrower's ownership, construction, operation and maintenance of the Project. With respect to the Permits set forth on Part A of Schedule 4.01(p), (A) such Permits have been obtained, filed or made with the corresponding Governmental Authorities, as applicable, (B) such Permits are in full force and effect, (C) all fixed time periods for any appeal, if any such time periods are expressly set forth in the applicable Law pursuant to which such Permit has been issued, that may allow modification or revocation of such Permits have expired and (D) except as disclosed on Schedule 4.01(p), there are no proceedings pending,

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or to the Borrower's knowledge, threatened in writing seeking to rescind, terminate, adversely and materially modify, suspend, revoke or invalidate such Permits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Permits set forth on Part B of Schedule 4.01(p) are required solely in connection with stages of construction, management and/or operation of the Project that will occur after the Closing Date. The Borrower has no reason to believe, on the date this representation is made or deemed to be made, that any such Permit that has not yet been obtained, but which will be required in the future, will not be obtained in the ordinary course, without undue expense and on terms and conditions that are not materially inconsistent with the Borrower's performance under the Material Project Documents on or prior to the date required under the Material Project Documents and Applicable Law and in a manner that allows for the Conversion Date to be achieved by the Date Certain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower is in compliance with all Permits which have been issued to it as of the date this representation is made or deemed to be made, except where the failure to be in compliance could not reasonably be expected to result in a Material Adverse Effect.

Section 5.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Real Property</u>. (a) The Project, together with any pipeline systems, natural gas processing plants, compression stations, or terminals situated on, or projected to be situated on, the Project Property Rights granted to the Borrower or any other Loan Party, are situated entirely within the boundaries of such Project Property Rights and (b) such facilities do not encroach upon any adjoining property, except, in the case of (a) or (b), as would not reasonably be expected to result in a Material Adverse Effect. Furthermore, the Material Projects and all related pipeline systems, natural gas processing plants, compression stations, or terminals—whether owned or leased by the Borrower or any other Loan Party—and their operation and maintenance, (i) do not contravene any applicable zoning or building laws, ordinances, or other administrative regulations; and (ii) do not violate any applicable restrictive covenants or governmental rules; except in each case where such contravention or violation would not reasonably be expected to have a Material Adverse Effect.

**ARTICLE VI <br>AFFIRMATIVE COVENANTS**

Until Payment in Full, from and after the Closing Date, the Borrower shall (and, solely to the extent applicable to it, the Parent shall):

Section 6.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Statements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Deliver to the Administrative Agent for prompt further distribution to each Lender, within one hundred and twenty (120) days after the end of each fiscal year, commencing with the fiscal year ending December 31, 2025, a balance sheet of the Borrower, as at the end of such fiscal year, and the related statements of income or operations, stockholders' equity and cash flows for such fiscal year, setting forth in each case in comparative form, commencing with the fiscal year ending December 31, 2026, the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of an independent registered public accounting firm of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not contain any qualifications or exceptions as to the scope of such audit or any "going concern" explanatory paragraph or like qualification (other than resulting from (x) the impending maturity of any Indebtedness or (y) any actual or prospective breach of any financial covenant contained in any Indebtedness), together with a customary management discussion and analysis of financial information; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Deliver to the Administrative Agent for prompt further distribution to each Lender, within sixty (60) days after the end of each of the first three (3) fiscal quarters of each fiscal year, commencing with the fiscal quarter ending March 31, 2026, a balance sheet of the Borrower as at the end of such fiscal quarter and in comparative format, the prior fiscal year-end and the related statements of income or operations for such fiscal quarter and the portion of the fiscal year then ended, setting forth in comparative form, commencing with the quarterly financial statements for the quarter ending March 31, 2027, the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, and statements of stockholders' equity for the current fiscal quarter and statement of cash flows for the portion of the fiscal year then ended, setting forth in each case in comparative form, commencing with the quarterly financial statements for the quarter ending March 31, 2027, the figures for the corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of the Borrower as fairly presenting in all material respects the financial condition, results of operations, stockholders' equity and cash flows of the Borrower in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes.

Notwithstanding the foregoing, the obligations in <u>paragraphs (a)</u> and <u>(b)</u> of this <u>Section 6.01</u> may be satisfied with respect to financial information of the Borrower by furnishing (A) the applicable financial statements of the Borrower (or any Parent Company of the Borrower) or (B) the Borrower's (or any Parent Company thereof), as applicable, Form 10-K or 10-Q, as applicable, filed with the SEC; *provided* that, with respect to clauses (A) and (B), (i) to the extent such information relates to a parent or parents of the Borrower, such information is accompanied by consolidating information that explains in reasonable detail the differences between the information relating to the Borrower (or such parents), on the one hand, and the information relating to the Borrower on a stand-alone basis, on the other hand and (ii) to the extent such information is in lieu of information required to be provided under <u>Section 6.01(a)</u>, such materials are accompanied by a report and opinion of any independent registered public accounting firm of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted auditing standards and, except as permitted in <u>Section 6.01(a)</u>, shall not contain any qualifications or exceptions as to the scope of such audit or any "going concern" explanatory paragraph or like qualification (other than resulting from (x) the impending maturity of any Indebtedness or (y) any actual or prospective breach of any financial covenant contained in any Indebtedness).

Documents required to be delivered pursuant to this <u>Section 6.01</u> and <u>Sections 6.02(b)</u> may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower (or any Parent Company of the Borrower) posts such documents, or provides a link thereto on the website on the Internet at the Borrower's website; or (ii) on which such documents are posted on the Borrower's behalf on Debtdomain, Roadshow Access (if applicable) or another relevant website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); *provided* that: (i) upon written request by the Administrative Agent, the Borrower shall deliver paper copies of such documents to the Administrative Agent for further distribution to each Lender until a written request to cease delivering paper copies is given by the Administrative Agent and (ii) the Borrower shall notify (which may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (*i.e.*, soft copies) of such documents. Each Lender shall be solely responsible for timely accessing posted documents or requesting delivery of paper copies of such documents from the Administrative Agent and maintaining its copies of such documents.

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Section 6.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Certificates; Other Information</u>. Deliver to the Administrative Agent for prompt further distribution to each Lender:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;no later than five (5) days after the actual delivery of the financial statements referred to in <u>Sections 6.01(a)</u> and <u>(b)</u>, a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;promptly after the same are publicly available, copies of all annual, regular, periodic and special reports and registration statements which any Loan Party files with the SEC or with any Governmental Authority that may be substituted therefor (other than amendments to any registration statement (to the extent such registration statement, in the form it became effective, is delivered), exhibits to any registration statement and, if applicable, any registration statement on Form S-8) and in any case not otherwise required to be delivered to the Administrative Agent pursuant hereto; *provided* that notwithstanding the foregoing, the obligations in this <u>Section 6.02(b)</u> may be satisfied so long as such information is publicly available on the SEC's EDGAR website;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;promptly after the furnishing thereof, copies of any material requests or material notices received by any Loan Party (other than in the ordinary course of business) or material statements or material reports furnished to any holder of debt securities (other than in connection with any board observer rights) of any Loan Party pursuant to the terms of any Indebtedness that is unsecured or secured by a Junior Lien, if any, and any Permitted Refinancing thereof, in each case in a principal amount in excess of the Threshold Amount, and not otherwise required to be furnished to the Lenders pursuant to any other clause of this Section 6.02;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;together with the delivery of each Compliance Certificate pursuant to <u>Section 6.02(a)</u>, (i) in the case of annual Compliance Certificates only, a report setting forth the legal name and the jurisdiction of formation of each Loan Party and the location of the chief executive office of each Loan Party or confirming that there has been no change in such information since the later of the Closing Date or the delivery of the last annual Compliance Certificate to the Administrative Agent and (ii) a description of each event, condition or circumstance during the last fiscal quarter covered by such Compliance Certificate requiring a mandatory prepayment under <u>Section 2.03(b</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;together with the delivery of each Compliance Certificate pursuant to <u>Section 6.02(a)</u>, (i) prior to the Conversion Date, a construction progress report with respect to the Project in form and substance reasonably satisfactory to the Administrative Agent and (ii) after the Conversion Date, an operating report with respect to the Project in form and substance reasonably satisfactory to the Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;(i) until such time as "Substantial Completion" shall have occurred pursuant to the Compression System Installation Contract, no earlier than 10 Business Days prior to the end of each fiscal quarter and (ii) within 10 Business Days after the date of "Substantial Completion" shall have occurred pursuant to the Compression System Installation Contract, a certificate of the Independent Engineer substantially in the form of <u>Exhibit J</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;concurrently with the delivery of financial statements referred to in <u>Sections 6.01(a)</u>, an annual operating budget for the Borrower for the then current fiscal year prepared using the substantially same methodology as the Closing Date Financial Model (it being understood that the foregoing shall be delivered for informational purposes only and in no event shall the annual operating budget require Lender approval or otherwise be subject to any caps or variance limitations); and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;promptly, such additional information regarding the business, legal, financial or corporate affairs of the Loan Parties, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender through the Administrative Agent may from time to time reasonably request.

The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Lead Arrangers will make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively, "**Borrower Materials**") by posting the Borrower Materials on Debtdomain, Roadshow Access (if applicable) or another similar electronic system (the "**Platform**") and (b) certain of the Lenders may be "public-side" Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Borrower or its securities) (each, a "**Public Lender**"). At the request of the Lead Arrangers, the Borrower hereby agrees to make all Borrower Materials that the Borrower intends to be made available to Public Lenders clearly and conspicuously designated as "PUBLIC". By designating Borrower Materials as "PUBLIC", the Borrower authorizes such Borrower Materials to be made available to a portion of the Platform designated "Public Investor," which is intended to contain only information that is publicly available or not material information (though it may be sensitive and proprietary) with respect to the Borrower or its securities for purposes of United States federal and state securities laws or is of a type that would be publicly available if the Borrower was a public reporting company (in each case, as reasonably determined by the Borrower). Notwithstanding the foregoing, the Borrower shall not be under any obligation to mark any Borrower Materials "PUBLIC". The Borrower agrees that (i) any Loan Documents, (ii) any financial statements delivered pursuant to <u>Section 6.01</u> and (iii) any Compliance Certificates delivered pursuant to <u>Section 6.02(a)</u> and (iv) notices delivered pursuant to <u>Section 6.03(a)</u> will be deemed to be "public-side" Borrower Materials and may be made available to Public Lenders.

Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the "Private Side Information" or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender's compliance procedures and applicable law, including United States federal and state securities laws, to make reference to communications that are not made available through the "Public Side Information" portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States federal or state securities laws.

The Platform is provided "as is" and "as available." The Agent-Related Persons do not warrant the adequacy of the Platform. No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of third party rights or freedom from viruses or other code defects, is made by any Agent-Related Person in connection with the Platform.

Section 6.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Promptly after a Responsible Officer of any Loan Party has obtained knowledge thereof, notify the Administrative Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;of the occurrence of any Default;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;of any matter that has resulted or would reasonably be expected to result in a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;of the filing or commencement of any action, suit, litigation or proceeding, whether at law or in equity by or before any Governmental Authority, (i) against any Loan Party that would reasonably be expected to result in a Material Adverse Effect or (ii) with respect to any Loan Document;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;of any action, suit, litigation or proceedings arising under any Environmental Law against any Loan Party or of any noncompliance by any Loan Party with any Environmental Law or Environmental Permit or any Environmental Liability, in each case, that would reasonably be expected to result in a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;of any ERISA Event that would reasonably be expected to result in a Material Adverse Effect.

Each notice pursuant to this <u>Section 6.03</u> shall be accompanied by a written statement of a Responsible Officer of such Loan Party (x) that such notice is being delivered pursuant to <u>Section 6.03(a)</u>, <u>(b)</u>, <u>(c)</u> or <u>(d)</u> (as applicable) and (y) setting forth details of the occurrence referred to therein and stating what action the applicable Loan Party has taken and proposes to take with respect thereto.

Section 6.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment of Tax Obligations</u>. Pay, discharge or otherwise satisfy as the same shall become due and payable in the normal conduct of its business, all its obligations and liabilities in respect of Taxes imposed upon it or upon its income or profits or in respect of its property, except, in each case, (i) to the extent any such Tax is being contested in good faith and by appropriate proceedings for which adequate reserves have been established in accordance with GAAP or (ii) if such failure to pay or discharge such obligations and liabilities would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect.

Section 6.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Preservation of Existence, Etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In the case of each Loan Party, preserve, renew and maintain in full force and effect its legal existence under the Laws of the jurisdiction of its organization except in a transaction permitted by <u>Section 7.04</u> or <u>7.05</u>; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the case of each Loan Party, take all reasonable action to maintain all rights, privileges (including its good standing where applicable in the relevant jurisdiction), permits, licenses and franchises necessary or desirable in the normal conduct of its business,

except, in the case of <u>clause (b)</u>, (i) to the extent that failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or (ii) pursuant to a transaction permitted by <u>Article VII</u>.

Section 6.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Maintenance of Properties</u>. Except if the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order, repair and condition, ordinary wear and tear excepted and fire, casualty or condemnation excepted.

Section 6.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Bank Accounts</u>. The Borrower shall (a) establish and maintain the Project Accounts in accordance with the Security and Depositary Agreement, (b) deposit or transfer all Project Revenues received by the Borrower to the appropriate Project Account in accordance with the Security and Depositary Agreement (including the establishment and maintenance of the Major Maintenance Reserve Account on the Closing Date in accordance with the Security and Depositary Agreement) and (c) instruct any Material Project Counterparty to any Material Project Document to remit the proceeds of any amounts due to the Borrower to the appropriate Project Account in accordance with the Security and Depositary Agreement. The Borrower shall cause each Local Account and ROW Account and the Permitted Subsidiary Account to be subject to a Control Agreement within 60 days of the Closing Date

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(or such longer period as the Administrative Agent may agree in writing) and with respect to Local Accounts or ROW Accounts created after the Closing Date or any replacement Permitted Subsidiary Account permitted hereunder, within 60 days (or such longer period as the Administrative Agent may agree in writing) of the creation of such Local Account, ROW Account or replacement Permitted Subsidiary Account, as applicable.

Section 6.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Books and Records</u>. In the case of each Loan Party, maintain proper books of record and account, in which entries that are full, true and correct in all material respects and are in conformity with GAAP consistently applied and which reflect all material financial transactions and matters involving the material assets and business of such Loan Party.

Section 6.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Laws</u>. In the case of each Loan Party, comply with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except if the failure to comply therewith would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Section 6.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Inspection Rights</u>. In the case of each Loan Party, permit representatives and independent contractors of the Administrative Agent and each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants (subject to such accountants' customary policies and procedures), all at the reasonable expense of the Borrower and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower; *provided* that, excluding any such visits and inspections during the continuation of an Event of Default, only the Administrative Agent on behalf of the Lenders may exercise rights of the Administrative Agent and the Lenders under this <u>Section 6.10</u> and the Administrative Agent shall not exercise such rights more often than one (1) time during any calendar year and only one (1) such time shall be at the Borrower's expense; *provided further* that when an Event of Default exists, the Administrative Agent, the Collateral Agent or any Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and upon reasonable advance notice. The Administrative Agent and the Lenders shall give the Borrower the opportunity to participate in any discussions with the Borrower's independent public accountants. Notwithstanding anything to the contrary in this <u>Section 6.10</u>, none of the Loan Parties shall be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter that (i) constitutes nonfinancial trade secrets or non-financial proprietary information, (ii) in respect of which disclosure to the Administrative Agent or any Lender (or their respective representatives or contractors) is prohibited by Law or (iii) is subject to attorney-client or similar privilege or constitutes attorney work-product.

Section 6.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Collateral</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;As promptly as practicable after the reasonable request therefor by the Administrative Agent or the Collateral Agent (at the direction of the Required Lenders), deliver to the Collateral Agent with respect to each Material Real Property, any existing title reports, abstracts or non-privileged environmental assessment reports, to the extent available and in the possession or control of the Borrower; *provided*, *however*, that there shall be no obligation to deliver to the Administrative Agent or Collateral Agent any existing environmental assessment report whose disclosure to the Administrative Agent or Collateral Agent would require the consent of a Person other than the Borrower, where, despite the commercially reasonable efforts of the Borrower to obtain such consent, such consent cannot be

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obtained; *provided further* that, if any assessment reports are withheld due to privilege or inability to obtain the required consent, Borrower shall ensure that any facts or conditions identified in such assessments have been disclosed to Lenders to the extent such facts or conditions relate to any material violation of Environmental Law or an Environmental Liability; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(A) Not later than 120 days after (x) the acquisition by any Loan Party of any Material Real Property or (y) any piece of Immaterial Real Property becoming Material Real Property, in each case as determined by the Borrower (acting reasonably and in good faith) (or such longer period as the Administrative Agent may agree in writing in its discretion) cause such Material Real Property to be subject to a Lien and Mortgage in favor of the Collateral Agent for the benefit of the Secured Parties and take, or cause the relevant Loan Party to take, such actions as shall be reasonably requested by the Administrative Agent or the Collateral Agent (at the direction of the Required Lenders) to grant and perfect or record such Lien, in each case to the extent required by, and subject to the applicable limitations and exceptions of, the Collateral and Guarantee Requirement and to otherwise comply with the requirements of the Collateral and Guarantee Requirement; and (B) as promptly as practicable after the reasonable request therefor by the Administrative Agent or the Collateral Agent (at the direction of the Required Lenders), deliver to the Collateral Agent with respect to each such acquired Material Real Property, any existing title reports, abstracts, surveys, appraisals or non-privileged environmental assessment reports, to the extent available and in the possession or control of the Loan Parties; *provided*, *however*, that there shall be no obligation to deliver to the Administrative Agent or Collateral Agent any existing environmental assessment report or appraisal whose disclosure to the Administrative Agent or Collateral Agent would require the consent of a Person other than the Borrower where, despite the commercially reasonable efforts of the Borrower to obtain such consent, such consent cannot be obtained; *provided further* that, if any assessment reports are withheld due to privilege or inability to obtain the required consent, Borrower shall ensure that any facts or conditions identified in such assessments have been disclosed to Lenders to the extent such facts or conditions relate to any material violation of Environmental Law or an Environmental Liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;To the extent not previously delivered pursuant to clause (h) of the definition of "Collateral and Guarantee Requirements", with respect to any Material Real Property, within 120 days of the earlier of (x) completion of the construction of the improvements on such Material Real Property and (y) the Conversion Date, deliver to the Administrative Agent and the Collateral Agent (i) Surveys with respect to such Material Real Property, provided, however, that in no event shall any Loan Party be obligated to obtain Surveys with respect to any Immaterial Real Property, and (ii) endorsements to the Mortgage Policies for such Material Real Property that include deletion of area and boundary, T-3 (omitting the general mechanics' lien exception, if applicable), comprehensive T-19, T-23 and T-30.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;At the Borrower's expense, take all action necessary or reasonably requested by the Administrative Agent or the Collateral Agent to ensure that the Collateral and Guarantee Requirement continues to be satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If reasonably requested by the Administrative Agent or Collateral Agent, within thirty (30) days after such request (or such longer period as the Administrative Agent may agree in writing in its discretion), deliver to the Collateral Agent any other items necessary from time to time to satisfy the Collateral and Guarantee Requirement with respect to perfection and existence of security interests with respect to property of any Loan Party acquired after the Closing Date and subject to the Collateral and Guarantee Requirement.

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Section 6.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Assurances</u>. In the case of each Loan Party, promptly upon reasonable request by the Administrative Agent or the Collateral Agent (a) correct any material defect or error that may be discovered in the execution, acknowledgment, filing or recordation of any Intercreditor Agreement or any Collateral Document or other document or instrument relating to any Collateral, and (b) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments as the Administrative Agent or the Collateral Agent may reasonably request from time to time in order to carry out more effectively the purposes of any Intercreditor Agreement or the Collateral Documents, to the extent required pursuant to the Collateral and Guarantee Requirement.

Section 6.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Equator Principles</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company will satisfy, in all material respects, reasonable Lender requests in order to comply with the requirements of the Equator Principles (to the extent applicable to the Project), except where the Company is contesting any such request pursuant to a Good Faith Contest. Notwithstanding the foregoing, the Company's obligations to comply with Applicable Law shall be governed solely by Section 6.09 (Compliance with Laws).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall (i) provide, on an annual basis for each Financial Year following the Closing Date, a certification in a format reasonably satisfactory to the Administrative Agent that the Company is in material compliance with the Lender requirements in respect of the Equator Principles, (ii) consents to the reporting of the Project name pursuant to Annex B of the Equator Principles, (iii) maintain an Environmental and Social Management Plan in a format reasonably satisfactory to the Administrative Agent (in consultation with the Independent Engineer) and (iv) to the extent occurring during the term of this Agreement, and where applicable and appropriate, decommission the Project's facilities that are permanently taken out of service in accordance with applicable Law and pursuant to a decommissioning plan reasonably consistent with applicable requirements of the Equator Principles, including in respect of any required decontamination, dismantlement, rehabilitation, landscaping and monitoring.

Section 6.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Accounting Changes</u>. Continue to use the same fiscal year; *provided*, *however*, that the Borrower may, upon written notice to the Administrative Agent, change its fiscal year to any other fiscal year reasonably acceptable to the Administrative Agent, in which case, the Borrower and the Administrative Agent will, and are hereby authorized by the Lenders to, make any adjustments to this Agreement that are necessary to reflect such change in fiscal year.

Section 6.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u>. The Borrower will use the proceeds of the Loans only as permitted pursuant to <u>Section 5.14(c)</u> and <u>Section 5.20</u>.

Section 6.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Post-Closing Deliveries</u>. The Loan Parties hereby agree to deliver, or cause to be delivered, to Administrative Agent, in form and substance reasonably satisfactory to Administrative Agent, the items described on <u>Schedule 6.16</u> hereof on or before the dates specified with respect to such items.

Section 6.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Lender Calls</u>. Solely to the extent requested by the Administrative Agent in writing, commencing with the fiscal year ending December 31, 2026 hold a conference call (at a date and time to be determined by the Borrower in its sole discretion, but, in any event, (x) no earlier than the Business Day following the delivery of annual financial statements pursuant to <u>Section 6.01(a)</u>, for such fiscal year and (y) on a Business Day and during customary business hours in New York City) with all Lenders who choose to attend such conference call.

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Section 6.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Change in Nature of Business</u>. Continue to, engage in any material lines of business which are not substantially different from those lines of business conducted by the Borrower on the Closing Date or any business reasonably related, complementary, synergistic or ancillary thereto or reasonable extensions thereof (including any geographic expansion of the business).

Section 6.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Separateness.</u>

The Borrower shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;act solely in its name and through its duly Responsible Officers, managers or agents in the conduct of its businesses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;conduct its business solely in its own name, in a manner not misleading to other Persons as to its identity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;provide for the payment of its own operating expenses and liabilities from its own funds (and not from the funds of the Parent or any other Affiliate of the Parent, except in the case where such funds were contributed as equity to the Borrower) or as otherwise permitted by the Loan Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;obtain proper authorization from member(s), director(s) and manager(s), as required by its constitutional documents for all of its actions, except as could not reasonably be expected to (i) have a Material Adverse Effect or (ii) materially increase the likelihood of consolidation between such Person and any Affiliate of such Person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;comply in all material respects with the terms of its constitutional documents.

Section 6.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Permits</u>. The Borrower shall, at the time that each such Permit is required under applicable Law in connection with the applicable stages of development, construction, management and/or operation of the Project, obtain and thereafter maintain in full force and effect each Permit listed on <u>Schedule 4.01(p)</u> held in the name of the Borrower and shall comply with all obligations in all material respects (including all mandatory reporting and/or filing requirements) binding on the Borrower under such Permits, except, in each case, to the extent that any failure to do so would not reasonably be expected to result in a Material Adverse Effect. In the event that a Permit that is set forth on <u>Schedule 4.01(p)</u> is obtained, the Borrower shall, promptly after issuance thereof, notify the Administrative Agent regarding the receipt thereof and attaching copies of such Permits.

Section 6.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Sanctions; Anti-Corruption Laws; and Anti-Money Laundering Laws</u>. Each Loan Party shall comply, in all material respects, with applicable Sanctions, Anti-Corruption Laws, and Anti-Money Laundering Laws. Each Loan Party shall continue to maintain and enforce or be subject to policies and procedures reasonably designed to promote and achieve compliance with applicable Anti-Corruption Laws, Anti-Money Laundering Laws and Sanctions by such Loan Party and each of its Subsidiaries.

Section 6.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Insurance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower will obtain and maintain the insurance and reinsurance coverages described on <u>Schedule 6.22</u> (the "**Insurance Policies**") pursuant to the terms set forth in such Schedule. If at any time any of the Insurance Policies shall no longer be available on commercially reasonable terms, then the Borrower shall after consultation with the Insurance Consultant, replace such policies with what is commercially available.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;To the extent any Mortgaged Property is subject to the provisions of the Flood Insurance Law (i) (x) at least twenty (20) days prior to the delivery of the mortgage in favor of the Collateral Agent in connection therewith, and (y) at any other time if necessary for compliance with applicable Flood Insurance Law, provide the Collateral Agent with a standard flood hazard determination form for such Mortgaged Property, which flood hazard determination form shall be addressed to the Collateral Agent, and otherwise comply with the Flood Insurance Law and (ii) if any such Mortgaged Property is located in an area designated a "flood hazard area" in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), obtain flood insurance in such reasonable total amount as the Administrative Agent or the Collateral Agent may from time to time reasonably require, and otherwise to ensure compliance with the Flood Insurance Law. In addition, to the extent the Borrower and the Loan Parties fail to obtain or maintain satisfactory flood insurance required pursuant to the preceding sentence with respect to any Mortgaged Property, the Collateral Agent shall be permitted, in its sole discretion, to obtain forced placed insurance at the Borrower's expense to ensure compliance with any applicable Flood Insurance Law.

Section 6.23&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Rate Hedging</u>. The Borrower shall, no later than forty-five days after the Closing Date, enter into (including by way of amendment, assignment, transfer, novation or conversion of any existing Hedging Agreement), and thereafter maintain in full force and effect at all times on or prior to and including the latest Maturity Date, Hedging Agreements with one or more Hedge Providers for the purpose of converting to a fixed rate a sufficient amount of Senior Secured Credit Facility Loans under the Senior Secured Credit Facilities and Incremental Equivalent Debt, such that at least 75%, (the "**Minimum Hedge Requirement**") but not more than 105% (the "**Maximum Hedge Requirement**"), in each case, of the aggregate notional principal amount projected to be outstanding under, collectively, the Senior Secured Credit Facilities and any Incremental Equivalent Debt during the agreed term and assumed amortization profile, is either at (x) a fixed rate or (y) a floating rate that has been hedged to effectively fix the Borrower's floating interest rate exposure. The Interest Rate Hedge Agreements entered into with Hedge Providers shall rank *pari passu* with the Parity Lien Debt in all respects at all times, (including in terms of security, guarantees (other than with respect to Excluded Swap Obligations) and priority of payment), the Hedge Providers shall enter into or accede to the First Lien Intercreditor Agreement and the Hedge Providers will share the benefit of the security as a Secured Party. The Borrower shall partially terminate, on a pro rata basis across all Hedge Providers, a portion of such Interest Rate Hedge Agreements in a proportionate amount equal to any voluntary or mandatory prepayment or other reduction in commitments under the Senior Secured Credit Facilities and any Incremental Equivalent Debt, subject to the Minimum Hedge Requirement and the Maximum Hedge Requirement.

**ARTICLE VII <br>NEGATIVE COVENANTS**

Until Payment in Full, from and after the Closing Date:

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Section 7.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Liens</u>. The Borrower shall not, directly or indirectly, create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following (the following, "**Permitted Liens**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens pursuant to any Loan Document (including, for the avoidance of doubt, Liens securing Incremental Loans) and (ii) Liens securing Indebtedness in respect of Secured Hedging Agreements permitted pursuant to <u>Section 7.03(e)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens existing on the Closing Date and listed on <u>Schedule 7.01(b)</u> and (ii) any modifications, replacements, renewals, refinancings, or extensions of any of the foregoing; *provided* that (A) the Lien does not extend to any additional property other than (x) after-acquired property that is affixed or incorporated into the property covered by such Lien, and (y) proceeds and products thereof, and (B) the replacement, renewal, extension or refinancing of the obligations secured or benefited by such Liens, to the extent constituting Indebtedness, is permitted by <u>Section 7.03</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Liens for Taxes (i) that are not overdue for a period of more than sixty (60) days or (ii) that are being contested in good faith and by appropriate actions, if adequate reserves with respect thereto are maintained on the books of the applicable Person to the extent required in accordance with GAAP;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;statutory or common law Liens of landlords, sublandlords, carriers, warehousemen, mechanics, materialmen, repairmen, construction contractors or like Liens that secure amounts not overdue for a period of more than sixty (60) days, or if more than sixty (60) days overdue, that are unfiled and no other action has been taken to enforce such Lien or that are being contested in good faith and by appropriate actions diligently conducted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;(i) pledges, deposits or Liens in the ordinary course of business in connection with workers' compensation, unemployment insurance and other social security legislation and (ii) pledges and deposits in the ordinary course of business securing liability for reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of) insurance carriers providing property, liability or casualty insurance to the Borrower or any other Loan Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;pledges, deposits or Liens to secure the performance of bids, trade contracts, governmental contracts and leases (other than Indebtedness for borrowed money), statutory or regulatory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like nature (including (i) those to secure health, safety and environmental obligations and (ii) letters of credit and bank guarantees required or requested by any Governmental Authority in connection with any contract or Law) incurred in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Liens (i) securing judgments or orders for the payment of money not constituting an Event of Default under <u>Section 8.01(h)</u> or (ii) securing appeal or other surety bonds related to such judgments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;leases, licenses, subleases or sublicenses granted to others in the ordinary course of business which do not (i) interfere in any material respect with the business of the Borrower and the other Loan Parties, taken as a whole or (ii) secure any Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course of collection and (ii) in favor of a banking or other financial institution arising as a matter of Law or under customary general terms and conditions encumbering deposits or

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other funds maintained with a financial institution (including the right of set-off) and that are within the general parameters customary in the banking industry or arising pursuant to such banking institution's general terms and conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Liens (i) on cash advances or Cash Equivalents in favor of the seller of any property to be acquired in an Investment permitted pursuant to <u>Sections 7.02</u> to be applied against the purchase price for such Investment, and (ii) consisting of an agreement to Dispose of any property in a Disposition permitted under <u>Section 7.05</u>, in each case, solely to the extent such Investment or Disposition, as the case may be, would have been permitted on the date of the creation of such Lien;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of the Borrower or any other Loan Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;any interest or title of a lessor, sublessor, licensor or sublicensor under leases, subleases, licenses or sublicenses entered into by the Borrower or any other Loan Party in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Liens that are contractual rights of set-off or rights of pledge (i) relating to the establishment of depository relations with banks not given in connection with the issuance of Indebtedness or (ii) relating to pooled deposit or sweep accounts of the Borrower or any other Loan Party to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Borrower or such other Loan Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Liens solely on any cash earnest money deposits made by the Borrower or any other Loan Party in connection with any letter of intent or purchase agreement permitted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising from precautionary Uniform Commercial Code financing statement or similar filings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto and (ii) Liens, pledges or deposits under worker's compensation, unemployment insurance or other social security legislation (other than ERISA), and other liens, pledges or deposits of a like nature;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Liens with respect to property or assets of the Borrower or any other Loan Party securing obligations in an aggregate principal amount outstanding at any time not to exceed the greater of (x) $100,000,000 and (y) 50% of LTM Adjusted EBITDA, in each case determined as of the date of incurrence; *provided*, that if such Indebtedness is secured by Liens on the Collateral, the representative of the holders of any such Indebtedness (including any Other Debt Representative) becomes party, in the event that it is not already a party, to (i) if such Indebtedness is secured by the Collateral on a *pari passu* basis (but without regard to the control of remedies) with the Obligations, the Junior Lien Intercreditor Agreement as a "Senior Representative" (as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term)), in the event that a Junior Lien Intercreditor Agreement is in effect at such time, and the First Lien Intercreditor Agreement and (ii) if such Indebtedness is secured by the Collateral on a second priority (or other junior priority) basis to the Liens on the Collateral securing the Obligations, the Junior Lien Intercreditor Agreement as a "Second Priority Representative" (as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;Liens with respect to property or assets of the Borrower securing obligations an amount not to exceed the Available Amount;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;Liens to secure Indebtedness permitted under <u>Section 7.03(n)</u>; *provided* that the representative of the holders of each such Indebtedness becomes party to (i) if such Indebtedness is secured by the Collateral on a *pari passu* basis (but without regard to the control of remedies) with the Obligations, the Junior Lien Intercreditor Agreement as a "Senior Representative" (as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term)), in the event that a Junior Lien Intercreditor Agreement is in effect at such time, and the First Lien Intercreditor Agreement and (ii) if such Indebtedness is secured by the Collateral on a junior priority basis to the Liens securing the Obligations, the Junior Lien Intercreditor Agreement as a "Junior Lien Representative" (or similar term, in each case, as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;Liens on the Collateral securing obligations in respect of (i) Credit Agreement Refinancing Indebtedness constituting Permitted First Priority Refinancing Debt or Permitted Second Priority Refinancing Debt (and any Permitted Refinancing of any of the foregoing); *provided* that the representative of the holders of each such Indebtedness (including any Other Debt Representative) becomes party, in the event that it is not already a party, to (A) if such Indebtedness is secured by the Collateral on a *pari passu* basis (but without regard to the control of remedies) with the Obligations, the Junior Lien Intercreditor Agreement as a "Senior Representative" (as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term)), in the event that a Junior Lien Intercreditor Agreement is in effect at such time, and a First Lien Intercreditor Agreement and (B) if such Indebtedness is secured by the Collateral on a second priority (or other junior priority) basis to the Liens on the Collateral securing the Obligations, the Junior Lien Intercreditor Agreement as a "Second Priority Representative" (as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term)) and (ii) Incremental Term Commitments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;deposits of cash with the owner or lessor of premises leased and operated by the Borrower or any other Loan Party to secure the performance of the Borrower's or such other Loan Party's obligations under the terms of the lease for such premises;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;easements, rights of way, licenses, covenants, restrictions (including zoning restrictions), encroachments, minor imperfections in title and other similar encumbrances incurred in the ordinary course of business and that (i) individually or in the aggregate could not reasonably be expected to have a Material Adverse Effect and (ii) do not individually or in the aggregate materially detract from the value of the Project or materially and adversely impact Project operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;Liens on any property or asset securing Indebtedness permitted by <u>Section 7.03(r)</u>, but only on the property or asset that is the subject of such Indebtedness or otherwise customarily secured by such Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;Liens with respect to property or assets securing Indebtedness incurred pursuant to <u>Sections 7.03(d)</u> (subject to a subordination agreement as set forth in the definition of "Subordinated Debt") or <u>Section 7.03(f)</u> (subject to the First Lien Intercreditor Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods entered into by the Borrower in the ordinary course of its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;Liens that are disclosed in any title commitments, title policies or surveys of real property made available or delivered pursuant to this Agreement to the Administrative Agent prior to the Closing Date and that (i) individually or in the aggregate could not reasonably be expected to have a Material

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Adverse Effect and (ii) do not individually or in the aggregate materially detract from the value of the Project or materially and adversely impact Project operations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;&nbsp;&nbsp;&nbsp;Liens on Excluded Assets and Immaterial Real Property securing Indebtedness in an amount not to exceed $10,000,000 in the aggregate.

For purposes of determining compliance with this <u>Section 7.01</u>, (A) Liens need not be incurred solely by reference to one category of Liens permitted by this <u>Section 7.01</u> but are permitted to be incurred in part under any combination thereof and of any other available exemption and (B) in the event that such Lien (or any portion thereof) meets the criteria of one or more of the categories of Liens permitted by this <u>Section 7.01</u>, the Borrower shall, in its sole discretion, classify or reclassify such Lien (or any portion thereof) in any manner that complies with this provision.

Section 7.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Investments</u>. The Borrower shall not directly or indirectly, make or hold any Investments, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Investments in Cash Equivalents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Investments (excluding loans and advances made in lieu of Restricted Payments pursuant to and limited by <u>Section 7.02(i)</u> below) consisting of transactions permitted under <u>Sections 7.01</u>, <u>7.03</u> (other than <u>7.03(c)</u>), <u>7.04</u> (other than <u>7.04(b)</u>), <u>7.05</u> (other than <u>7.05(b)</u> and <u>(d)</u>), and <u>7.06</u> (other than <u>7.06(c)</u> or <u>(e)(iv)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Investments existing on the Closing Date and any modification, renewal or extension thereof; *provided* that the amount of the original Investment is not increased except by the terms of such Investment as of the Closing Date or as otherwise permitted by this <u>Section 7.02</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;loans or advances to officers, directors, managers and employees of any Loan Party (or any Parent Company thereof) or any of its Subsidiaries (i) for reasonable and customary business-related travel, entertainment, relocation and analogous ordinary business purposes or (ii) in connection with such Person's purchase of Equity Interests of the Parent or any Parent Company thereof directly from such issuing entity (*provided* that the amount of such loans and advances shall be contributed to the Borrower in cash as common equity);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Investments in Hedging Agreements permitted under <u>Section 7.03</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;promissory notes and other non-cash consideration received in connection with Dispositions permitted by <u>Section 7.05</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;[reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Investments in the ordinary course of business consisting of UCC Article 3 endorsements for collection or deposit and UCC Article 4 customary trade arrangements with customers consistent with past practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;loans and advances to the Borrower and any other Parent Company of the Borrower not to exceed the amount of (after giving effect to any other loans, advances or Restricted Payments in respect thereof) Restricted Payments permitted to be made to such Parent Company by <u>Sections 7.06(e)</u> or <u>(g)</u>; *provided* that payments made pursuant to this <u>clause (i)</u> shall reduce the available baskets in <u>Sections 7.06(e)</u> or <u>(g)</u>, as applicable;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;other Investments, which when combined with the aggregate amount of other Investments outstanding pursuant to this <u>clause (j)</u> (valued at the time of the making thereof, and without giving effect to any write downs or write offs thereof, but giving effect to any positive return in respect thereof, including dividends, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts), does not exceed at the time when any such new Investment is made, the greater of (x) $50,000,000 and (y) 25% of LTM Adjusted EBITDA (after giving effect to such Investment);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Investments to the extent that payment for such Investments is made solely with Equity Interests (other than Disqualified Equity Interests) of the Parent (or any Parent Company of the Parent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Guarantees by the Borrower of obligations that do not constitute Indebtedness entered into in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;advances of payroll payments to employees in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;earnest money deposits required in connection with any Investment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Investments that are made in an amount equal to the amount not to exceed the Available Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;other Investments, which when combined with the aggregate amount of other Investments made pursuant to this <u>clause (r)</u> do not exceed 100% of the Available Equity Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Investments of IP Rights with other Persons entered into in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;any Investment permitted under <u>Section 7.06</u> (except with respect to <u>Section 7.06(b)</u> and <u>(g)</u>); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;any Investment in the Permitted Subsidiary permitted under <u>Section 7.13</u>.

Section 7.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Indebtedness</u>. The Borrower shall not directly or indirectly, create, incur, assume or suffer to exist any Indebtedness, except (the following, "**Permitted Indebtedness**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of any Loan Party under the Loan Documents (including, for the avoidance of doubt, Indebtedness incurred pursuant to Incremental Loans);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness outstanding on the Closing Date and listed on <u>Schedule 7.03(b)</u> and any Permitted Refinancing thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Guarantees by the Borrower in respect of Indebtedness of the Borrower otherwise permitted hereunder; *provided* that if the Indebtedness being guaranteed is subordinated to the Obligations, such Guarantee shall be subordinated to the Guarantee of the Obligations on terms at least as favorable to the Lenders as those contained in the subordination of such Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness in respect of Hedging Agreements (including Interest Rate Hedge Agreements) designed to hedge against the Borrower's exposure to interest rates;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred under the TLB Credit Agreement not to exceed $1,050,000,000 at any time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred by the Borrower in connection with an Investment expressly permitted hereunder or any Disposition, in each case, constituting indemnification obligations or obligations in respect of purchase price (including earnouts) or other similar adjustments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness consisting of obligations of the Borrower under deferred compensation or other similar arrangements incurred by the Borrower in connection with the Transactions and Investments expressly permitted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of the Borrower, in an aggregate principal amount at any time outstanding that at the time of, and after giving effect to, the incurrence thereof, would not exceed the greater of (x) $50,000,000 and (y) 25% of LTM Adjusted EBITDA at such time, and any Permitted Refinancing thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Guarantees resulting from endorsement of negotiable instruments in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness consisting of (i) the financing of insurance premiums or (ii) take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred by the Borrower in respect of letters of credit, bank guarantees, bankers' acceptances or similar instruments issued or created in the ordinary course of business; *provided* that any reimbursement obligations in respect thereof are reimbursed within thirty (30) days following the incurrence thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;obligations in respect of performance, bid, appeal and surety bonds and performance and completion guarantees and similar obligations provided by the Borrower or obligations in respect of letters of credit, bank guarantees or similar instruments related thereto, in each case in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of the Borrower in respect of one or more series of senior secured loans or notes (whether issued in a public offering, under Rule 144A of the Securities Act or in another private placement or otherwise) (and including any bridge financings in lieu of such notes), junior secured or unsecured "mezzanine" loans or notes or senior unsecured or subordinated loans or notes, in each case, pursuant to an indenture, interim agreement, loan agreement, note purchase agreement or otherwise and any extensions, renewals, refinancings and replacements thereof, including in the case of any such notes, any Registered Equivalent Notes (the "**Incremental Equivalent Debt**"); *provided* that (i) such Incremental Equivalent Debt may not be incurred (or guaranteed) by a non-Loan Party or secured by assets that do not constitute Collateral, (ii) such Incremental Equivalent Debt shall not mature earlier than the Maturity Date of the Initial Term Loans; *provided*, that the foregoing requirements of this <u>clause (ii)</u> shall not apply to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this <u>clause (ii)</u> and such conversion or exchange is subject only to conditions customary for similar conversions or exchange, (iii) such Incremental Equivalent Debt shall have a Weighted Average Life to Maturity not shorter than the remaining Weighted Average Life to Maturity of the Initial Term Loans (without giving effect to any prepayments of the Initial Term Loans prior to the time of incurrence of such Incremental Equivalent Debt that would otherwise shorten the Weighted Average Life to Maturity of the Initial Term Loans); *provided*, that the foregoing requirements of this <u>clause (iii)</u> shall

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not apply to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this <u>clause (iii)</u> and such conversion or exchange is subject only to conditions customary for similar conversions or exchange, (iv) any mandatory prepayments of Incremental Equivalent First Lien Debt (as defined below) will be made on a *pro rata* basis or a less than *pro rata* basis (but not on a greater than *pro rata* basis except for prepayments with the proceeds of a Permitted Refinancing) with mandatory prepayments of the Term Loans and any mandatory prepayments of Incremental Equivalent Debt secured by Junior Liens or unsecured Incremental Equivalent Debt may not be made except to the extent that prepayments are offered, to the extent required under the existing Facilities, first *pro rata* to the Facilities and any Incremental Equivalent First Lien Debt (v) in the case of Incremental Equivalent Debt subject to a Parity Lien ("**Incremental Equivalent First Lien Debt**") in the form of syndicated term b loans, such Incremental Equivalent First Lien Debt shall be subject to the MFN Protection as if such Incremental Equivalent First Lien Debt were an Incremental Term Loan (it being understood that no other Incremental Equivalent Debt shall be subject to the MFN Protection), (vi) the aggregate outstanding principal amount of all Incremental Equivalent Debt incurred in accordance with this <u>Section 7.03(n)</u>, together with the aggregate principal amount of all Incremental Term Commitments and Incremental Term Loans shall not exceed the Incremental Availability Amount, (vii) the incurrence of any Incremental Equivalent Debt shall be in compliance with Regulation T, U and X promulgated by the FRB, (viii) the security agreements, if applicable, relating to such Indebtedness are substantially the same as the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (ix) if such Incremental Equivalent Debt is secured, the Other Debt Representative acting on behalf of the holders of such Indebtedness shall have become party to the First Lien Intercreditor Agreement and/or Junior Lien Intercreditor Agreement, as applicable, and (x) subject to clauses (ii) through (v) above, the terms applicable to such Incremental Equivalent Debt shall be determined by the Borrower and the holders of such Incremental Equivalent Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness supported by a letter of credit with respect to which the Borrower has any reimbursement obligations, so long as such reimbursement obligations constitute Indebtedness permitted pursuant to any other clause of this <u>Section 7.03</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Credit Agreement Refinancing Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;all premiums (if any), interest (including post-petition interest), fees, expenses, charges and additional or contingent interest on obligations described in <u>clauses (a)</u> through <u>(p)</u> above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;Attributable Indebtedness and other Indebtedness (including Capitalized Leases) financing the acquisition, construction, repair, replacement, lease or improvement of a fixed or capital asset incurred by the Borrower (including Indebtedness for the deferred purchase price of property or services and purchase-money obligations) in an aggregate amount not to exceed the sum of (x) the greater of (x) $20,000,000 and (y) 10% of LTM Adjusted EBITDA determined at the time of incurrence (together with any Permitted Refinancings thereof) at any time outstanding *plus* (y) the aggregate amount of such Indebtedness existing as of the Closing Date and any Permitted Refinancing of any of the foregoing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business.

For purposes of determining compliance with this <u>Section 7.03</u>, in the event that an item of Indebtedness meets the criteria of more than one of the categories of Indebtedness described in <u>clauses (a)</u> 

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through <u>(t)</u> above, the Borrower shall, in its sole discretion, classify or later divide, classify or reclassify all or a portion of such item of Indebtedness or any portion thereof in a manner that complies with this <u>Section 7.03</u> and will only be required to include the amount and type of such Indebtedness in one or more of the above clauses.

Section 7.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Fundamental Changes</u>. The Borrower shall not merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that the Borrower may change its legal form if the Borrower determines in good faith that such action is in the best interest of the Borrower and if not materially disadvantageous to the Lenders.

Section 7.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Dispositions</u>. The Borrower shall not directly or indirectly, make any Disposition, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of property whether now owned or hereafter acquired, in the ordinary course of business and on a commercial arms-length basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Dispositions, transactions permitted by <u>Sections 7.01</u>, <u>7.02</u> (other than <u>Section 7.02(b)</u>), <u>7.04</u> and <u>7.06</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;issuances of common Equity Interests by the Borrower to the Parent (so long as all such common Equity Interests are subject to the Liens granted under Collateral Documents in accordance with, and to the extent required by, the terms of the Collateral and Guarantee Requirement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions, liquidations or use of Cash Equivalents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of IP Rights that do not materially and adversely interfere with the business of the Borrower (or that avoid such interference by granting to the Borrower a license or other ownership rights to use such IP Rights), taken as a whole, or are no longer economical to maintain in light of their respective use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of condemned property as a result of the exercise of "eminent domain" or other similar powers to the respective Governmental Authority or agency that has condemned the same (whether by deed in lieu of condemnation or otherwise);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of assets whose Fair Market Value in aggregate for all such Dispositions under this <u>Section 7.05(g)</u>, as determined at the time of each such Disposition, does not exceed $75,000,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of property which is obsolete, worn out, damaged, surplus or not used or useful in the conduct of the business of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the unwinding of any Hedging Agreement; provided that the Borrower is in compliance with the requirements of <u>Section 6.23</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;leases or subleases of real or personal property, exchanges of real or personal property or the granting of easements, rights-of-way, access rights, permits, licenses, restrictions or the like, in each case, which do not interfere in any material respect with the ordinary course of business of the Borrower;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;the lapse or abandonment in the ordinary course of business of any IP Rights that are no longer used or useful, or not material, to the business of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;leases, subleases, licenses, cross-licenses or sublicenses of IP Rights, in each case in the ordinary course of business, or that will not materially interfere with the business of the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;any sale of property of assets, if the acquisition of such property or assets was financed solely with Cash Flow Available for Distribution made following the Closing Date.

Section 7.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Restricted Payments</u>. The Borrower shall not declare or make, directly or indirectly, any Restricted Payment, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower may declare and make Restricted Payments payable solely in the Equity Interests (other than Disqualified Equity Interests not otherwise permitted by <u>Section 7.03</u>) of such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments in an amount not to exceed the Available Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Restricted Payments, the Borrower may enter into and consummate transactions expressly permitted by any provision of <u>Sections 7.02</u> (other than <u>Sections 7.02(b)</u>), <u>7.04</u> or <u>7.07</u> (other than <u>Sections 7.07(c)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;repurchases of Equity Interests in the Borrower (or any Parent Company thereof), with respect to which no cash or other consideration is paid by the Borrower, deemed to occur upon exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower may make Restricted Payments to any Parent Company of the Borrower:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;so long as (x) the Conversion Date has occurred and (y) no Event of Default has occurred and is continuing, with respect to any taxable period or portion thereof during which the Borrower is a passthrough entity (including a partnership or disregarded entity) for U.S. federal income tax purposes, payments or distributions by the Borrower to any member or partner of the Borrower on or prior to each estimated tax payment date as well as each other applicable due date, in an aggregate amount such that each direct or indirect member or partner of the Borrower receives, in the aggregate for such period, payments or distributions made from the Distribution Reserve Account not to exceed such member or partner's U.S. federal, state, and/or local income taxes (as applicable) attributable to its direct or indirect ownership of the Borrower with respect to such taxable period (assuming that such member or partner is subject to tax at the highest combined marginal U.S. federal, state, and local income tax rates (including any tax rate imposed on "net investment income" by Section 1411 of the Code) applicable to an individual resident or, if higher, a corporation, doing business in New York City (for the avoidance of doubt, regardless

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of the actual rate applicable to such member or partner), determined by (A) taking into account (1) any U.S. federal, state, and/or local (as applicable) losses allocable to such member or partner attributable to its direct or indirect ownership of the Borrower and its Subsidiaries for prior taxable periods to the extent such loss is of a character that would allow such loss to be available to reduce taxes in the current taxable period (taking into account any limitations on the utilization of such loss to reduce such taxes and to the extent such loss had not already been taken into account for purposes of calculating Permitted Tax Distributions hereunder), (2) the character (e.g., long-term or short-term capital gain or ordinary or exempt) of the applicable income, (3) any adjustment to such member's or partner's taxable income attributable to its direct or indirect ownership of the Borrower as a result of any tax examination, audit, or adjustment with respect to any period or portion thereof, but (B) not taking into account (1) the deductibility of state and local income taxes for U.S. federal income Tax purposes, (2) the application of Section 199A of the Code, and (3) any basis adjustments under Sections 734 or 743 of the Code attributable to any direct or indirect members or partners of the Borrower) (any such payments or distributions permitted under <u>clause (ii)</u>, above, or this <u>clause (iii)</u>, a "**Permitted Tax Distribution**"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the proceeds of which shall be used by any Parent Company of the Borrower to pay fees and expenses (other than to Affiliates) related to any unsuccessful equity or debt offering by such parent (or any Parent Company thereof) that is directly attributable to the operations of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower may pay cash in lieu of fractional Equity Interests in connection with any dividend, split or combination thereof or any Investment permitted under <u>Section 7.02</u> ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;other Restricted Payments not to exceed 100% of the Available Equity Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments consisting of reimbursements of Drawstop Equity Contributions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments from the Permitted Subsidiary to the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;the Transactions and Restricted Payments made in connection with the Transactions.

Notwithstanding the foregoing, (x) at the Closing Date, the Borrower shall be entitled to make a Restricted Payment to the Parent (and the Parent shall be entitled to make such Restricted Payment to the Sponsors) up to an amount of $859,023,126.30, subject to no further conditions (other than those conditions set in <u>Section 4.01</u>) (the "**Closing Date Distribution**") and (y) on or within 30 days of the Conversion Date, the Borrower shall be entitled to make to the Parent (and the Parent shall be entitled to make such Restricted Payment to the Sponsors) the True-Up Distribution.

Section 7.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Transactions with Affiliates</u>. The Borrower shall not, directly or indirectly, enter into any transaction of any kind with any Affiliate, other than (a) on terms substantially as favorable to the Borrower as would be obtainable by the Borrower or at the time in a comparable arm's-length transaction with a Person other than an Affiliate, (b) the Transactions and the payment of Transaction Expenses as part of or in connection with the Transactions, (c) Restricted Payments permitted under <u>Section 7.06</u>, and Investments permitted under <u>Section 7.02</u>, (d) employment and severance arrangements between the Borrower and its officers and employees in the ordinary course of business and transactions pursuant to stock option plans and employee benefit plans and arrangements in the ordinary course of business, (e) the payment of customary fees and reasonable out of pocket costs to, and indemnities provided on behalf of, directors, managers, officers, employees and consultants of the Borrower (or any Parent Company of the Borrower) in the ordinary course of business to the extent attributable to the

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ownership or operation of the Borrower, (f) transactions pursuant to agreements in existence on the Closing Date and set forth on <u>Schedule 7.07</u> or any amendment thereto to the extent such an amendment is not adverse to the Lenders in any material respect, (g) the issuance or transfer of Equity Interests (other than Disqualified Equity Interests) of the Borrower to any Sponsor or to any former, current or future director, manager, officer, employee or consultant (or any Affiliate of any of the foregoing) of the Borrower or any Parent Company thereof and (h) transactions with the Permitted Subsidiary.

Section 7.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Burdensome Agreements</u>. The Borrower shall not enter into or permit to exist any Contractual Obligation (other than this Agreement, the other Loan Documents, any agreements or documents governing, evidencing and/or securing Credit Agreement Refinancing Indebtedness, Incremental Term Commitments, Incremental Revolving Commitments, Incremental Equivalent Debt, any Pari Lien Debt or Indebtedness secured by a Junior Lien, each as permitted under this Agreement and any requirements of Law that are memorialized as Contractual Obligations) that prohibits any Loan Party to create, incur, assume or suffer to exist Liens on the Collateral of such Person for the benefit of the Lenders with respect to the Facilities and the Obligations or under the Loan Documents; *provided* that the foregoing shall not apply to Contractual Obligations which (i)(x) exist on the Closing Date and (to the extent not otherwise permitted by this <u>Section 7.08</u>) are listed on <u>Schedule 7.08</u> hereto and (y) to the extent Contractual Obligations permitted by <u>clause (i)(x)</u> are set forth in an agreement evidencing Indebtedness, are set forth in any agreement evidencing any permitted modification, replacement, renewal, extension or refinancing of such Indebtedness so long as such modification, replacement, renewal, extension or refinancing does not expand the scope of such Contractual Obligation, (ii) are binding on a Person at the time such Person merges with or into the Borrower so long as such Contractual Obligations were not entered into solely in contemplation of such Person merging with or into the Borrower, (iii) arise in connection with any Disposition permitted by <u>Section 7.04</u> or <u>7.05</u> and relate solely to the assets or Person subject to such Disposition, (iv) are customary restrictions on asset sale or similar agreements otherwise permitted hereby so long as such restrictions relate to the assets subject thereto, (v) comprise restrictions imposed by any agreement relating to secured Indebtedness permitted pursuant to <u>Section 7.03(i)</u> and to the extent that such restrictions apply only to the property or assets securing such Indebtedness or to the Person incurring or guaranteeing such Indebtedness, (vi) are customary provisions restricting assignment of any agreement entered into in the ordinary course of business, (vii) are restrictions on cash or other deposits imposed by customers under contracts entered into in the ordinary course of business, (viii) customary restrictions on Liens in Indebtedness permitted hereunder so long as such Indebtedness permits the first-priority Liens of the Secured Parties on the Collateral (subject to Permitted Liens and the Collateral and Guarantee Requirement) or (ix) arise in connection with cash or other deposits permitted under <u>Sections 7.01</u> and <u>7.02</u> and limited to such cash or deposit.

Section 7.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Covenant</u>. The Borrower will not permit the Debt Service Coverage Ratio to be less than 1.10:1.00 as of the last day of any fiscal quarter (commencing with the first full fiscal quarter ended after the Conversion Date).

Section 7.10&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

Section 7.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Change in Nature of Business</u>. The Parent shall not directly operate any material business; *provided* that, for the avoidance of doubt, the following (and activities incidental thereto) shall not constitute the operation of a business and shall in all cases be permitted to the extent not otherwise restricted under the terms of this Agreement: (i) its direct or indirect ownership of Equity Interests to the extent not otherwise prohibited by the Loan Documents, (ii) the maintenance of its legal existence (including the ability to incur fees, costs and expenses relating to such maintenance and performance of

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activities relating to its officers, directors, managers and employees and those of its Parent Company), (iii) the entering into, and performance of its obligations with respect to, the Loan Documents and any other Indebtedness, the consummation of the Transactions and the consummation of any other transaction otherwise permitted by this <u>Article VII</u>, (iv) participating in tax, accounting and other administrative matters as a member of the consolidated group, including compliance with applicable law and legal, tax and accounting matters related thereto and activities relating to its officers, directors, managers and employees, (v) holding any cash and Cash Equivalents, (vi) holding any other property received by it as a distribution from the Borrower and making further distributions with such property, (vii) providing indemnification to officers, managers and directors, (viii) holding director and shareholder meetings, preparing organizational records and other organizational activities required to maintain its separate organizational structure or to comply with applicable law, (ix) filing tax reports and paying taxes and other customary obligations related thereto in the ordinary course (and contesting any taxes), (x) entering into and performance of obligations with respect to contracts and other arrangements in connection with the activities contemplated by this <u>Section 7.11</u>, (xi) the preparation of reports to Governmental Authorities and to its shareholders, (xii) the performance of obligations under and compliance with its organizational documents, any demands or requests from or requirements of a Governmental Authority or any applicable law, ordinance, regulation, rule, order, judgment, decree or permit, including as a result of or in connection with the activities of its Subsidiaries; and (xiii) any activities incidental to the foregoing or customary for passive holding companies. The Parent shall not incur any Indebtedness (other than Indebtedness under the Loan Documents) (*provided* that guarantees of Indebtedness of the Borrower permitted to be incurred by <u>Section 7.03</u> shall not be restricted), and the Parent shall not grant or permit to exist any Liens on Equity Interests of the Borrower other than Liens for the benefit of any Secured Parties, the representatives to any First Lien Intercreditor Agreement and any Junior Lien Intercreditor Agreement and the creditors represented by such representatives and as permitted by the penultimate paragraph of <u>Section 7.01</u>.

Section 7.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Bank Accounts</u>. The Borrower will not establish or maintain any bank accounts other than the Project Accounts, Local Accounts, ROW Accounts and the Permitted Subsidiary Account; *provided* that, no such Local Accounts, ROW Accounts or the Permitted Subsidiary Account shall contain any funds unless subject to a Control Agreement.

Section 7.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsidiaries</u>. The Borrower will not form, own or have any Subsidiaries or otherwise own beneficially an ownership interest in any Person other than the Permitted Subsidiary; *provided* that as long as the Permitted Subsidiary remain a Subsidiary of the Borrower, it shall (i) be 100% owned by the Borrower, (ii) not incur Indebtedness for borrowed money, (iii) not guarantee any obligations of any other Person, other than pursuant to the Loan Documents, (iv) not grant a Lien over any of its assets, other than pursuant to the Loan Documents, (v) not own any assets that are material to the business of the Borrower and (v) not conduct activities that would reasonably be expected to have a materially adverse effect on the Project or engage in any material lines of business which are substantially different from those lines of business conducted by the Permitted Subsidiary on the Closing Date; *provided further* that (1) the Permitted Subsidiary may maintain the Permitted Subsidiary Account or any replacement account thereof (provided such account is subject to the same restrictions as the Permitted Subsidiary Account), (2) the Permitted Subsidiary may receive Investments from any Loan Party to make payments under supply contracts or other contracts related to the development of the Project, (3) the Borrower and the Permitted Subsidiary may engage in any transaction with one another in connection with the development of the Project, including transfers or Dispositions of property, as long as such transaction would not result in a Material Adverse Effect and (4) contracts (including Material Project Documents other than the O&M Agreement, the Blackfin Capacity Lease or any TSA) relating to

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equipment procurement, and any equipment or related assets, may be contributed or distributed into or by Permitted Subsidiary to or from the Borrower.

Section 7.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u>. None of the Loan Parties shall use any part of the proceeds of the Loans, directly or indirectly, (a) in violation of any applicable Anti-Corruption Laws or Anti-Money Laundering Laws; (b) to fund, finance or facilitate any activities, dealings or business, with any Sanctioned Person or Sanctioned Country; or (c) in any manner that would constitute or give rise to a violation of Sanctions by any Person.

Section 7.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Modification of Material Project Documents; Modification of TSAs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;To the extent within the control of the Borrower, the Borrower shall not consent to, without the prior consent of the Required Lenders (such consent not to be unreasonably withheld, delayed or conditioned), any assignment of, amendment to, modification of, or waiver of timely compliance with, any terms or conditions of the CP2 TSA, unless such consent, amendment, modification, waiver or assignment could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall not consent to, or permit, without the prior consent of the Required Lenders (such consent not to be unreasonably withheld, delayed or conditioned), any assignment of, amendment to, modification of, or waiver of timely compliance with, any terms or conditions of any Material Project Document, unless such consent, amendment, modification, waiver or assignment could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; <u>provided</u>, that the foregoing shall not apply to <u>Section 7.13(4)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall not fail to enforce, or fail to pursue any remedies available to it with respect to any breach of, any material covenant under any Material Project Document, except where such failure could not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, the Borrower shall not terminate (except as a result of the expiration thereof in accordance with its terms or as a result of performance in full of the parties thereto) the Blackfin Capacity Lease unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;such termination is consented to by the Required Lenders (such approval not to be unreasonably withheld, delayed or conditioned); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Replacement Conditions are satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Permitted Subsidiary shall not consent to, or permit any assignment of, amendment to, modification of, or waiver of timely compliance with, any terms or conditions of any Material Project Document except (i) as permitted under Section 7.13(4), (ii) as consented to by the Required Lenders (such consent not to be unreasonably withheld, delayed or conditioned) or (iii) such consent, amendment, modification, waiver or assignment could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

Section 7.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Material Project Documents; Additional TSAs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower will not enter into any Additional Material Project Document, unless such entrance into such Additional Material Project Document could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower will not enter into any Additional TSA, except if after giving effect to such Additional TSA (i) no Default or Event of Default shall have resulted, or could reasonably be expected to result, from such Additional TSA; (ii) the service provided under the Additional TSA will not cause a material breach or default or otherwise violate in any material respect any other TSA; and (iii) the firm capacity proposed to be contracted in such Additional TSA is not otherwise contracted as firm capacity pursuant to another TSA.

Section 7.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Rate Hedges</u>. The Borrower will not, and will not agree to, enter into any Hedging Agreement other than (a) any Interest Rate Hedge Agreement in accordance with <u>Section 6.23</u> and (b) subject to <u>Section 6.23</u>, non-speculative Hedging Agreements protecting against the Borrower's interest exposure under its Permitted Indebtedness.

Section 7.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Accounting Changes</u>. The Borrower will not make any material change in its accounting or reporting policies, except as required by applicable Law or GAAP.

Section 7.19&nbsp;&nbsp;&nbsp;&nbsp;<u>No Settlement, Etc.</u> The Company will not agree, authorize or otherwise consent to any proposed settlement, resolution or compromise of any litigation, arbitration or other dispute with any of its Affiliates, unless such action could not reasonably be expected to have a Material Adverse Effect.

Section 7.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments to Constitutional Documents</u>. The Company will not amend or otherwise modify its constitutional documents in a manner that is materially adverse to the Lenders (in their capacities as such), as determined by the Borrower in good faith.

**ARTICLE VIII <br>EVENTS OF DEFAULT AND REMEDIES**

Section 8.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Events of Default</u>. Any of the following from and after the Closing Date shall constitute an event of default (an "**Event of Default**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Non-Payment.* The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan, or (ii) within five (5) Business Days after the same becomes due, any interest on any Loan or any other amount payable hereunder or with respect to any other Loan Document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Specific Covenants.* The Borrower or, in the case of <u>Section 7.11</u> or <u>Section 7.13</u>, the Parent fails to perform or observe any term, covenant or agreement contained in any of <u>Section 6.03(a)</u> or <u>6.05(a)</u> or <u>Article VII</u>; *provided* that a Default as a result of a breach of <u>Section 7.09</u> is subject to cure pursuant to <u>Section 8.05</u> and such Default will not become an Event of Default for purposes of exercising remedies under <u>Section 8.02</u> until such cure is no longer available with respect to such Default; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Other Defaults.* Any Loan Party fails to perform or observe any other covenant or agreement (not specified in <u>Section 8.01(a)</u> or <u>(b)</u> above) contained in any Loan Document on its part to be performed or observed and such failure continues for thirty (30) days after written notice thereof by the Administrative Agent to the Borrower; *provided* that, (i) if such failure does not involve the payment of money to any Person and is not susceptible to cure within such thirty (30) days or (ii) if such Person is proceeding with diligence and good faith to cure such Default and such Default is susceptible to cure and (iii) in the case of each of clauses (i) and (ii), the existence of such failure has not resulted in a Material Adverse Effect, such thirty (30)-day period shall be extended as may be necessary to cure such failure,

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such extended period not to exceed ninety (90) days in the aggregate (inclusive of the original thirty (30)-day period); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Representations and Warranties.* Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of the Borrower or any other Loan Party herein, in any other Loan Document, or in any certificate required to be delivered in connection herewith or therewith shall be incorrect in any material respect when made or deemed made *provided* that, if (i) such Loan Party was not aware that such representation or warranty was incorrect at the time such representation or warranty was made, (ii) the fact, event or circumstance resulting in such incorrect representation or warranty is capable of being cured, corrected or otherwise remedied, and (iii) such fact, event or circumstance resulting in such incorrect representation or warranty shall have been cured, corrected or otherwise remedied within thirty (30) days (or if such incorrect representation or warranty is not susceptible to cure within thirty (30) days, and such Loan Party is proceeding with diligence and in good faith to cure such default and such default is susceptible to cure, such thirty (30)-day cure period shall be extended as may be necessary to cure such incorrect representation or warranty, such extended period not to exceed ninety (90) days in the aggregate (inclusive of the original thirty (30)-day period)) from the date a Responsible Officer of any Loan Party obtains knowledge thereof, such false or incorrect representation or warranty shall not constitute a Default or an Event of Default for purposes of the Loan Documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Cross-Default; Cross-Acceleration*. The Borrower (i) fails to make any payment beyond the applicable grace period with respect thereto, if any (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness (other than Indebtedness for borrowed money hereunder) having an aggregate principal amount of not less than the Threshold Amount, or (ii) fails to observe or perform any other agreement or condition relating to any such Indebtedness, or any other event occurs, and, in each case, continues beyond the applicable grace period with respect thereto, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Insolvency Proceedings, Etc.* Any Loan Party or the Committed Shipper institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for sixty (60) days, or an order for relief is entered in any such proceeding; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;*Inability to Pay Debts; Attachment.* (i) Any Loan Party or the Committed Shipper admits in writing its inability to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of the Loan Parties or the Committed Shipper, in each case taken as a whole, and is not released, vacated or fully bonded within sixty (60) days after its issue or levy; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;*Judgments.* There is entered against any Loan Party a final judgment or order for the payment of money in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer has been notified of such judgment or order and has not denied coverage) and such judgment or order shall not have been satisfied, vacated, discharged, stayed or bonded pending an appeal for a period of sixty (60) consecutive days; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Invalidity of Loan Documents.* Any material provision of any Loan Document, at any time after its execution and delivery and for any reason, other than as a result of acts or omissions by the Administrative Agent or Collateral Agent or the satisfaction in full of all the Obligations, ceases to be in full force and effect or becomes invalid, illegal or unenforceable; or any Loan Party contests in writing the validity or enforceability of any material provision of any Loan Document or the validity or priority of a Lien as required by the Collateral Documents on any material portion of the Collateral; or any Loan Party denies in writing that it has any or further liability or obligation under any Loan Document (other than as a result of Payment in Full), or purports in writing to revoke or rescind any Loan Document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;*Change of Control.* There occurs any Change of Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;*Collateral Documents.* Any Collateral Document after delivery thereof pursuant to <u>Section 4.01</u> or <u>Sections 6.11</u> or <u>6.12</u> shall for any reason (other than pursuant to the terms thereof including as a result of a transaction not prohibited under this Agreement) cease to create a valid and perfected Lien, with the priority required by the Collateral Documents and the Intercreditor Agreements on and security interest in any material portion of the Collateral purported to be covered thereby, subject to Permitted Liens, except to the extent that any such perfection or priority is not required pursuant to the Collateral and Guarantee Requirement or any loss thereof results from the failure of the Administrative Agent or the Collateral Agent to maintain possession of certificates actually delivered to it representing securities pledged under the Collateral Documents or to file Uniform Commercial Code continuation statements and ; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;*Event of Abandonment*. An Event of Abandonment occurs; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;*Conversion Date*. (i) The Conversion Date does not occur on or prior to the Date Certain or (ii) the Committed Shipper does not elect ISD with respect to the first two phases of the Project under the CP2 TSA on or prior to the Date Certain; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;*Total Loss*. A Total Loss of the Project occurs; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;*Material Project Documents; TSAs*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Any breach occurs of the CP2 TSA by any party thereto other than a Loan Party resulting in a default thereunder that is reasonably expected to result in a Material Adverse Effect or termination or alteration, amendment or modification to the CP2 TSA that is reasonably expected to result in a Material Adverse Effect and such default is not remedied or the CP2 TSA is not replaced within the grace period specified therein (or, in the event that no grace period is specified in the CP2 TSA, such breach shall remain unremedied for ninety (90) days; *provided* that, there shall be no Event of Default under this <u>clause (i)</u> if the Borrower executes and delivers a replacement TSA within one hundred and eighty (180) days after such default; *provided*, further, that this <u>clause (i)</u> shall be subject to the Replacement Conditions;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Any breach occurs of any Material Project Document by any Loan Party resulting in a default thereunder that is reasonably expected to result in a Material Adverse Effect and such default is not remedied within the grace period specified therein; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Any breach occurs of any Material Project Document by the Material Project Counterparty party thereto resulting in a default thereunder that is reasonably expected to result in a Material Adverse Effect or termination or alteration, amendment or modification to such Material Project Document that is reasonably expected to result in a Material Adverse Effect and such default is not remedied or such Material Project Document is not replaced within the grace period specified therein (or, in the event that no grace period is specified in such Material Project Document, such breach shall remain unremedied for ninety (90) days); *provided* that, there shall be no Event of Default under this <u>clause (iii)</u> if the Borrower executes and delivers a replacement Material Project Document within one hundred and eighty (180) days after such default; *provided*, further, that this <u>clause (iii)</u> shall be subject to the Replacement Conditions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;*Permits*. Any Permit listed on <u>Schedule 4.01(p)</u> (i) has not been obtained as and when required pursuant to <u>Schedule 4.01(p)</u> and the failure to obtain that Permit by that date (A) results in a Material Adverse Effect or (B) the Project is not reasonably expected to achieve Conversion by the Date Certain, or (ii) having been obtained, ceases to be binding or after issuance thereof, is repudiated, revoked, terminated, modified, cancelled, suspended or becomes illegal or invalid, in each case, so as would reasonably be expected to have a Material Adverse Effect, by the issuing agency or other Governmental Authority having jurisdiction and such circumstance continues unremedied for forty-five (45) days from the date on which a Responsible Officer obtains knowledge thereof or receives notice thereof from the Administrative Agent; *provided*, that the foregoing shall not constitute an Event of Default under this sub-<u>clause (p)</u> if the Borrower undertakes, within forty-five (45) days after a Responsible Officer obtains knowledge thereof or receives notice thereof from the Administrative Agent, commercially reasonable efforts to obtain a replacement Permit, so long as such circumstance has not resulted, and could not reasonably be expected to result, in an inability of the Borrower to pay the Obligations when due or, if such circumstance arises prior to the Conversion Date, a delay in the Conversion Date beyond the Date Certain; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;*ERISA.* (i) An ERISA Event occurs which has resulted or could reasonably be expected to result in a Material Adverse Effect, or (ii) a Loan Party or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan and a Material Adverse Effect could reasonably be expected to result.

Section 8.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies Upon Event of Default</u>. If any Event of Default occurs and is continuing, the Administrative Agent may and, at the request of the Required Lenders, shall take any or all of the following actions (subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement)):

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

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;exercise on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Loan Documents or applicable Law;

*provided* that upon the occurrence of an Event of Default set forth in <u>Section 8.02(f)</u> or <u>(g)</u>, the obligation of each Lender to make Loans shall automatically terminate, the unpaid principal amount of all outstanding Loans and other amounts as aforesaid shall automatically become due and payable, in each case without further act of the Administrative Agent or any Lender.

Notwithstanding anything herein or in any other Loan Document to the contrary, neither the Administrative Agent nor the Required Lenders may take any of the actions described in this <u>Section 8.02</u> with respect to any Default or Event of Default if such Default or Event of Default resulted from any action or the occurrence of any event reported publicly or otherwise disclosed to the Lenders more than two (2) years prior to the date any actions described in this <u>Section 8.02</u> are taken.

Notwithstanding anything herein or in any other Loan Document to the contrary, with respect to any Default or Event of Default resulting from the failure of the Borrower to comply with the covenant set forth in <u>Section 7.09</u> for which the Sponsors are entitled to issue a Designated Equity Contribution, neither any Agent nor any Lender may exercise the foregoing remedies until the date that is the earlier of (i) 10 Business Days after the date on which the Compliance Certificate is required to be delivered hereunder with respect to the period commencing after the beginning of the last fiscal quarter included in such Test Period pursuant to <u>Section 6.02(a)</u> and (ii) the date the Administrative Agent receives notice that there will not be an issuance of a Specified Equity Contribution for such fiscal quarter.

Section 8.03&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].

Section 8.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Application of Funds</u>. After the exercise of remedies provided for in <u>Section 8.02</u> (or after the Loans have automatically become immediately due and payable as set forth in the proviso to <u>Section 8.02</u>), any amounts or other distributions received on account of the Obligations, including any proceeds of Collateral, shall be applied by the Administrative Agent and the Collateral Agent (as applicable) in the following order (to the fullest extent permitted by mandatory provisions of applicable Law), in each case, subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement):

*First*, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (other than principal and interest, but including Attorney Costs payable under <u>Section 10.04</u> and amounts payable under <u>Article III</u>) payable to the Administrative Agent or the Collateral Agent in its capacity as such;

*Second*, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest, Letter of Credit fees owed pursuant to <u>Section 2.19(h), and</u> commitment fees owed pursuant to <u>Sections 2.07(b)</u> and <u>(c)</u>) payable to the Lenders and Issuing Banks (including Attorney Costs payable under <u>Section 10.04</u> and amounts payable under <u>Article III</u>), ratably among them in proportion to the amounts described in this clause Second payable to them;

*Third,* to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans, accrued and unpaid Letter of Credit fees owed pursuant to <u>Section 2.19(h)</u>, accrued and unpaid commitment fees owed pursuant to <u>Sections 2.07(b)</u> and <u>(c)</u>, and any fees, premiums or scheduled periodic payments due under Secured Hedging Agreements, ratably

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among the Secured Parties in proportion to the respective amounts described in this clause Fifth payable to them;

*Fourth*, to payment of that portion of the Obligations constituting unpaid principal of the Loans, and any breakage, termination or other payments under Secured Hedging Agreements, ratably among the Secured Parties in proportion to the respective amounts described in this clause Sixth held by them;

*Fifth*, to the payment of all other Obligations that are due and payable to the Administrative Agent and the other Secured Parties on such date, ratably based upon the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other Secured Parties on such date; and

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

Notwithstanding the foregoing, no amounts received from any Loan Party shall be applied to any Excluded Swap Obligations of such Loan Party.

Section 8.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Borrower's Right to Cure</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained in <u>Section 8.01</u> or <u>8.02</u>, if the Borrower determines that an Event of Default under the covenant set forth in <u>Section 7.09</u> has occurred or may occur, during the period commencing after the beginning of the last fiscal quarter included in such Test Period and ending ten (10) Business Days after the date on which the Compliance Certificate is required to be delivered hereunder with respect to such fiscal quarter pursuant to <u>Section 6.02(a)</u>, the Sponsors may make a Specified Equity Contribution to the Borrower (or any Parent Company thereof, to the extent contributed to the Borrower) (a "**Designated Equity Contribution**"), and the amount of the net cash proceeds thereof shall, at the request of the Borrower, be deemed to increase the amount set forth in clause (a) of the definition of "Debt Service Coverage Ratio" with respect to such applicable quarter for the purpose of determining compliance with the covenant set forth in <u>Section 7.09</u> at the end of such quarter and applicable subsequent periods; *provided* that such net proceeds (i) are actually received by the Borrower as cash common equity (including through capital contribution of such net cash proceeds to the Borrower) during the period commencing after the beginning of the last fiscal quarter included in such Test Period by the Borrower and ending ten (10) Business Days after the date on which Compliance Certificate is required to be delivered with respect to such fiscal quarter hereunder and (ii) are Not Otherwise Applied. The parties hereby acknowledge that this <u>Section 8.05(a)</u> may not be relied on for purposes of calculating any financial ratios other than as applicable to <u>Section 7.09</u> and shall not result in any adjustment to any baskets or other amounts other than the amount set forth in clause (a) of the definition of "Debt Service Coverage Ratio" for the purpose of <u>Section 7.09</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) In each period of four consecutive fiscal quarters, there shall be at least two fiscal quarters in which no Designated Equity Contribution is made, (ii) no more than five Designated Equity Contributions may be made in the aggregate during the term of this Agreement, (iii) the amount of any Designated Equity Contribution shall be no more than the amount required to cause the Borrower to be in *pro forma* compliance with the Financial Covenant for any applicable period and (iv) there shall be no *pro forma* reduction in Indebtedness with the proceeds of any Designated Equity Contribution for determining compliance with the Financial Covenant for the fiscal quarter with respect to which such Designated Equity Contribution was made; *provided* that, to the extent such net cash proceeds are actually applied to prepay Indebtedness, such reduction may be credited in any subsequent fiscal quarter.

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**ARTICLE IX <br>ADMINISTRATIVE AGENT AND OTHER AGENTS**

Section 9.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Appointment and Authorization of Agents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender (in its capacities as a Lender and on behalf of itself and its Affiliates as potential counterparts to Secured Hedging Agreements) hereby irrevocably appoints, designates and authorizes each of the Administrative Agent and the Collateral Agent to take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. Without limiting the generality of the foregoing, the Lenders hereby expressly authorize the Administrative Agent and the Collateral Agent to execute any and all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto, as contemplated by and in accordance with the provisions of this Agreement and the Collateral Documents and acknowledge and agree that any such action by any Agent shall bind the Lenders. Notwithstanding any provision to the contrary contained elsewhere herein or in any other Loan Document, neither the Administrative Agent nor the Collateral Agent shall have any duties or responsibilities, except those expressly set forth herein, nor shall the Administrative Agent or the Collateral Agent have or be deemed to have any fiduciary relationship with any Lender or Participant, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent or the Collateral Agent. Without limiting the generality of the foregoing sentence, the use of the term "agent" herein and in the other Loan Documents with reference to any Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender (in its capacities as a Lender and on behalf of itself and its Affiliates as potential counterparts to Secured Hedging Agreements) hereby (i) acknowledges that it has received a copy of the Intercreditor Agreements, (ii) agrees that it will be bound by and will take no actions contrary to the provisions of the Intercreditor Agreements to the extent then in effect, and (iii) authorizes and instructs the Collateral Agent to enter into each Intercreditor Agreement as Collateral Agent and on behalf of such Lender.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in <u>Sections 9.09</u> and <u>9.11</u>, the provisions of this <u>Article IX</u> are solely for the benefit of the Administrative Agent, the Collateral Agent and the Secured Parties, and neither the Borrower nor any other Loan Party shall have rights as a third-party beneficiary of any of such provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender hereby (i) acknowledges that it has received a copy of the First Lien Intercreditor Agreement, (ii) agrees that it will be bound by and will take no actions contrary to the provisions of the First Lien Intercreditor Agreement and/or subordination agreement pursuant to, or contemplated by, the terms of this Agreement (including with respect to Indebtedness permitted hereunder with respect thereto and, in each case, defined terms referenced therein) to the extent then in effect, and (iii) authorizes and instructs the Collateral Agent to enter into the First Lien Intercreditor Agreement, amendments or other modifications to the First Lien Intercreditor Agreement and/or subordination agreement pursuant to, or contemplated by, the terms of this Agreement (including with respect to Indebtedness permitted hereunder with respect thereto and, in each case, defined terms referenced therein) as Collateral Agent and on behalf of such Lender.

Section 9.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Delegation of Duties</u>. Each of the Administrative Agent and the Collateral Agent may execute any of its respective duties under this Agreement or any other Loan Document (including for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents or of exercising any rights and remedies thereunder) by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such duties. The Administrative Agent, the Collateral Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Agent-Related Persons. The exculpatory provisions of this <u>Article IX</u> shall apply to any such sub-agent and to the Agent-Related Persons of the Administrative Agent, the Collateral Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the Facilities as well as activities as Administrative Agent or Collateral Agent. The Administrative Agent and the Collateral Agent shall not be responsible for the negligence or misconduct of any agent or sub-agent or attorney-in-fact that it selects in the absence of bad faith, gross negligence or willful misconduct (as determined in the final non-appealable judgment of a court of competent jurisdiction).

Section 9.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Liability of Agents</u>. No Agent-Related Person shall (a) be liable for any action taken or omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby (except for its own bad faith, gross negligence or willful misconduct, as determined by the final non-appealable judgment of a court of competent jurisdiction, in connection with its duties expressly set forth herein), (b) except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity, (c) be responsible for or have any duty to ascertain or inquire into the satisfaction of any condition set forth in <u>Article IV</u> or elsewhere herein, other than that the Administrative Agent shall confirm receipt of items expressly required to be delivered to the Administrative Agent or (d) be responsible in any manner to any Lender or Participant for any recital, statement, representation or warranty made by any Loan Party or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent or the Collateral Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, the existence, value or collectability of the Collateral, any failure to monitor or maintain any part of the Collateral, any loss or diminution in the value of the Collateral, or the perfection or priority of any Lien or security interest created or purported to be created under the Collateral Documents, or for any failure of

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any Loan Party or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Lender or Participant to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Loan Party or any Affiliate thereof. Notwithstanding the foregoing, neither the Administrative Agent nor the Collateral Agent shall have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent or Collateral Agent (as applicable) is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents); *provided* that the Administrative Agent or Collateral Agent (as applicable) shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent or Collateral Agent (as applicable) to liability or that is contrary to any Loan Document or applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law.

Section 9.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Reliance by Agents</u>. Each Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, communication, signature, resolution, representation, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message, electronic mail message, statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons, and upon advice and statements of legal counsel (including counsel to any Loan Party), independent accountants and other experts selected by such Agent. Each Agent shall be fully justified in failing or refusing to take any action under any Loan Document unless it shall first receive such advice, direction or concurrence of the Required Lenders as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Required Lenders (or such greater number of Lenders as may be expressly required hereby in any instance) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.

Section 9.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Default</u>. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to any Event of Default as may be directed by the Required Lenders in accordance with <u>Article VIII</u>; *provided* that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default as it shall deem advisable or in the best interest of the Lenders.

Section 9.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Credit Decision; Disclosure of Information by Agents</u>. Each Lender acknowledges that no Agent-Related Person has made any representation or warranty to it, and that no act by any Agent hereafter taken, including any consent to and acceptance of any assignment or review of the affairs of any Loan Party or any Affiliate thereof, shall be deemed to constitute any representation or

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warranty by any Agent-Related Person to any Lender as to any matter, including whether Agent-Related Persons have disclosed material information in their possession. Each Lender represents to each Agent that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of, and investigation into, the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties, and all applicable bank or other regulatory Laws relating to the transactions contemplated hereby, and made its own decision to enter into this Agreement and to extend credit to the Borrower hereunder. Each Lender also represents that it will, independently and without reliance upon any Agent-Related Person and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties. Except for notices, reports and other documents expressly required to be furnished to the Lenders by any Agent herein, such Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any of the Loan Parties or any of their Affiliates which may come into the possession of any Agent-Related Person.

Section 9.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification of Agents</u>. Whether or not the transactions contemplated hereby are consummated, the Lenders shall indemnify upon demand each Agent-Related Person (to the extent not reimbursed by or on behalf of any Loan Party and without limiting the obligation of any Loan Party to do so), *pro rata*, and hold harmless each Agent-Related Person from and against any and all Indemnified Liabilities incurred by it; *provided* that no Lender shall be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities resulting from such Agent-Related Person's own gross negligence or willful misconduct, as determined by the final non-appealable judgment of a court of competent jurisdiction; *provided* that no action taken or not taken in accordance with the directions of the Required Lenders (or such other number or percentage of the Lenders as shall be required by the Loan Documents) shall be deemed to constitute gross negligence or willful misconduct for purposes of this <u>Section 9.07</u>. In the case of any investigation, litigation or proceeding giving rise to any Indemnified Liabilities, this <u>Section 9.07</u> applies whether any such investigation, litigation or proceeding is brought by any Lender or any other Person. Without limitation of the foregoing, each Lender shall reimburse each of the Administrative Agent and the Collateral Agent upon demand for its ratable share of any costs or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent or the Collateral Agent, as the case may be, in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, any other Loan Document, or any document contemplated by or referred to herein, to the extent that the Administrative Agent or the Collateral Agent, as the case may be, is not reimbursed for such expenses by or on behalf of the Loan Parties and without limiting their obligation to do so. The undertaking in this <u>Section 9.07</u> shall survive termination of the Aggregate Commitments, the payment of all other Obligations and the resignation or removal of the Administrative Agent or the Collateral Agent, as the case may be.

Section 9.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Agents in Their Individual Capacities</u>. Each Agent and its Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire Equity Interests in and generally engage in any kind of banking, trust, financial advisory, underwriting or other business with the Borrower and its Affiliates as though such Agent were not the Administrative Agent or Collateral Agent (as applicable) hereunder and without notice to or consent of the Lenders. The Lenders acknowledge that, pursuant to such activities, each Agent or its Affiliates may receive information regarding the Borrower or its Affiliates (including information that may be subject to confidentiality obligations in favor of the

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Borrower or such Affiliate) and acknowledge that neither the Administrative Agent nor the Collateral Agent shall be under any obligation to provide such information to them. With respect to its Loans (if any), each Agent and its Affiliates shall have the same rights and powers under this Agreement as any other Lender and may exercise such rights and powers as though it were not the Administrative Agent or the Collateral Agent and the terms "Lender" and "Lenders" include each Agent in its individual capacity. Any successor to MUFG as the Administrative Agent or SMBC as the Collateral Agent shall also have the rights attributed to MUFG or SMBC, as applicable, under this <u>Section 9.08</u>.

Section 9.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Successor Agents</u>. Each of the Administrative Agent and the Collateral Agent may resign as the Administrative Agent or the Collateral Agent, as applicable, upon thirty (30) days' notice to the Lenders, the Borrower and each other Agent and if either the Administrative Agent or the Collateral Agent is a Defaulting Lender, the Borrower may remove such Defaulting Lender from such role upon ten (10) days' notice to the Administrative Agent or Collateral Agent, as applicable, the Lenders and each other Agent. If the Administrative Agent or the Collateral Agent is an Issuing Bank, its resignation as an Issuing Bank shall be effective upon the effectiveness of its resignation or removal as Administrative Agent or Collateral Agent, as applicable. If the Administrative Agent or the Collateral Agent resigns or is removed by the Borrower, the Required Lenders shall appoint a successor agent, which successor agent shall (a) in the case of the Administrative Agent, be selected from among the Lenders and (b) be consented to by the Borrower at all times other than during the existence of Payment or Bankruptcy Default (which consent of the Borrower shall not be unreasonably withheld or delayed); *provided* that in no event shall any such successor Administrative Agent or Collateral Agent be a Defaulting Lender or a Disqualified Lender. If no successor agent is appointed prior to the effective date of the resignation or removal of the Administrative Agent or the Collateral Agent, as applicable, the Administrative Agent or the Collateral Agent, as applicable, in the case of a resignation, and the Borrower, in the case of a removal may appoint, after consulting with the Lenders and the Borrower (in the case of a resignation), a successor agent which, in the case of the Administrative Agent, shall be from among the Lenders (subject to the proviso at the end of the immediately preceding sentence). Upon the acceptance of its appointment as successor agent, the Person acting as such successor agent shall succeed to all the rights, powers and duties of the retiring Administrative Agent or retiring Collateral Agent under the Loan Documents and the term "Administrative Agent" or "Collateral Agent" shall mean such successor administrative agent or collateral agent, as the case may be, and the retiring Administrative Agent's or Collateral Agent's appointment, powers and duties as the Administrative Agent or Collateral Agent shall be terminated. After the retiring Administrative Agent's or the Collateral Agent's resignation or removal in accordance herewith as the Administrative Agent or the Collateral Agent, the provisions of this <u>Article IX</u> and the provisions of <u>Sections 10.04</u> and <u>10.05</u> shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent or Collateral Agent in respect of the Loan Documents. If no successor agent has accepted appointment as the Administrative Agent or the Collateral Agent by the date which is thirty (30) days following the retiring Administrative Agent's or Collateral Agent's notice of resignation or ten (10) days following the Borrower's notice of removal, the retiring Administrative Agent's or the retiring Collateral Agent's resignation shall nevertheless thereupon become effective and the Lenders shall perform all of the duties of the Administrative Agent or Collateral Agent hereunder until such time, if any, as the Required Lenders appoint a successor agent as provided for above. Upon the acceptance of any appointment as the Administrative Agent or Collateral Agent in accordance herewith by a successor and upon the execution and filing or recording of such financing statements, or amendments thereto, and such other instruments or notices, as may be necessary or desirable, or as the Required Lenders may request, in order to (x) continue the perfection of the Liens granted or purported to be granted by the Collateral Documents or (y) otherwise ensure that <u>Section 6.11</u> is satisfied, the Administrative Agent or Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, discretion, privileges, and duties of the retiring Administrative Agent or

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Collateral Agent under the Loan Documents, and the retiring Administrative Agent or Collateral Agent shall be discharged from its duties and obligations under the Loan Documents. After the retiring Administrative Agent's or Collateral Agent's resignation hereunder as the Administrative Agent or the Collateral Agent, the provisions of this <u>Article IX</u> and <u>Sections 10.04</u> and <u>10.05</u> shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as the Administrative Agent or the Collateral Agent.

Section 9.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Administrative Agent May File Proofs of Claim</u>. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be (to the fullest extent permitted by mandatory provisions of applicable Law) entitled and empowered, by intervention in such proceeding or otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the Collateral Agent and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Collateral Agent and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the Collateral Agent and the Administrative Agent under <u>Sections 2.07</u>, <u>9.07</u>, <u>10.04</u> and <u>10.05</u>) allowed in such judicial proceeding; and

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

and any custodian, curator, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent or the Collateral Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent or the Collateral Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Agents and their respective agents and counsel, and any other amounts due the Administrative Agent or the Collateral Agent under <u>Sections 2.07</u>, <u>10.04</u> and <u>10.05</u>.

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

Section 9.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Collateral and Guaranty Matters</u>. Each Lender (including in its capacity as a counterparty to a Secured Hedging Agreement), Issuing Bank and each other Secured Party by its acceptance of the Collateral Documents irrevocably agrees:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;that any Lien on any property granted to or held by the Administrative Agent or the Collateral Agent under any Loan Document shall be automatically released (i) upon Payment in Full, (ii) at the time the property subject to such Lien is Disposed or to be Disposed as part of or in connection with any Disposition permitted hereunder or under any other Loan Document to any Person other than a Person required to grant a Lien to the Administrative Agent or the Collateral Agent under the Loan

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Documents, (iii) subject to <u>Section 10.01 and the provisions of the Intercreditor Agreements</u>, if the release of such Lien is approved, authorized or ratified in writing by the Required Lenders, (iv) if the property subject to such Lien is owned by the Parent, either upon release of the Parent from its obligations under its Guaranty pursuant to <u>clause (b)</u> below, (v) to the extent (and only for so long as) such property constitutes an "Excluded Asset", (vi) upon such Collateral no longer required to be perfected under the Collateral and Guarantee Requirement or (vii) if the release of such Lien on such property is permitted under the terms of each applicable Collateral Document and the Intercreditor Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;that the Parent shall be automatically released from its obligations under the Guaranty (i) upon the Parent no longer being required to the Guarantor under the Collateral and Guarantee Requirement or (ii) subject to <u>Section 10.01 and the provisions of the Intercreditor Agreements</u>, if such release is approved, authorized or ratified in writing by the Required Lenders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Collateral Agent may, without any further consent of any Lender, enter into (or enter into any supplement or amendment thereto, or an amendment and restatement or replacement thereof) (i) a First Lien Intercreditor Agreement with the applicable Other Debt Representatives with respect to Indebtedness permitted under <u>Section 7.03</u> where such Indebtedness is secured by Permitted Liens that the Borrower elects to secure on a *pari passu* basis with the Liens securing the Obligations and/or (ii) a Junior Lien Intercreditor Agreement with the applicable Other Debt Representatives with respect to Indebtedness permitted under <u>Section 7.03</u> where such Indebtedness is secured by Permitted Liens that the Borrower elects to secure on a junior basis to the Liens securing the Obligations. The Collateral Agent may rely exclusively on a certificate of a Responsible Officer of the Borrower as to whether any such other Liens are permitted. Any First Lien Intercreditor Agreement or any Junior Lien Intercreditor Agreement (or any supplement or amendment thereto, or amendment and restatement or replacement thereof) entered into by the Collateral Agent in accordance with the terms of this Agreement shall be binding on the Secured Parties.

Upon request by the Administrative Agent or the Collateral Agent at any time, the Required Lenders will confirm in writing the Administrative Agent's or the Collateral Agent's authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this <u>Section 9.11</u>. In each case as specified in this <u>Section 9.11</u>, the Administrative Agent or the Collateral Agent will promptly upon the request of the Borrower (and each Lender irrevocably authorizes the Administrative Agent and the Collateral Agent to), at the Borrower's expense, execute and deliver to the applicable Loan Party such documents as the Borrower may reasonably request to evidence the release or subordination of such item of Collateral from the assignment and security interest granted under the Collateral Documents, or to evidence the release of any Guarantor from its obligations under the Guaranty, in each case in accordance with the terms of the Loan Documents and this <u>Section 9.11</u> (and the Administrative Agent and the Collateral Agent may rely conclusively on a certificate of a Responsible Officer of the Borrower to that effect provided to it by any Loan Party upon its reasonable request without further inquiry). Any execution and delivery of documents pursuant to this <u>Section 9.11</u> shall be without recourse to or warranty by the Administrative Agent or the Collateral Agent. For the avoidance of doubt, no release of Collateral or Guarantors effected in the manner permitted by this <u>Section 9.11</u> shall require the consent of any holder of obligations under any Secured Hedging Agreement.

Section 9.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Agents; Lead Arrangers and Managers</u>. None of the Lenders or other Persons identified on the facing page or signature pages of this Agreement as a "bookrunner", "lead arranger", "co-manager", "co-syndication agent" or "co-documentation agent" shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable to all

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Lenders as such. Without limiting the foregoing, none of the Lenders or other Persons so identified shall have or be deemed to have any fiduciary relationship with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any of the Lenders or other Persons so identified in deciding to enter into this Agreement or in taking or not taking action hereunder.

Section 9.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Appointment of Supplemental Agents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;It is the purpose of this Agreement and the other Loan Documents that there shall be no violation of any Law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as agent or trustee in such jurisdiction. It is recognized that in case of litigation under this Agreement or any of the other Loan Documents, and in particular in case of the enforcement of any of the Loan Documents, or in case the Administrative Agent or the Collateral Agent deems that by reason of any present or future Law of any jurisdiction it may not exercise any of the rights, powers or remedies granted herein or in any of the other Loan Documents or take any other action which may be desirable or necessary in connection therewith, the Administrative Agent and the Collateral Agent are hereby authorized to appoint an additional individual or institution selected by the Administrative Agent or the Collateral Agent in its sole discretion as a separate trustee, co-trustee, administrative agent, collateral agent, administrative sub-agent or administrative co-agent (any such additional individual or institution being referred to herein individually as a "**Supplemental Agent**" and collectively as "**Supplemental Agents**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Collateral Agent appoints a Supplemental Agent with respect to any Collateral, (i) each and every right, power, privilege or duty expressed or intended by this Agreement or any of the other Loan Documents to be exercised by or vested in or conveyed to the Collateral Agent with respect to such Collateral shall be exercisable by and vest in such Supplemental Agent to the extent, and only to the extent, necessary to enable such Supplemental Agent to exercise such rights, powers and privileges with respect to such Collateral and to perform such duties with respect to such Collateral, and every covenant and obligation contained in the Loan Documents and necessary to the exercise or performance thereof by such Supplemental Agent shall run to and be enforceable by either the Collateral Agent or such Supplemental Agent, and (ii) the provisions of this <u>Article IX</u> and of <u>Sections 10.04</u> and <u>10.05</u> that refer to the Administrative Agent shall inure to the benefit of such Supplemental Agent and all references therein to the Collateral Agent shall be deemed to be references to the Collateral Agent and/or such Supplemental Agent, as the context may require.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Should any instrument in writing from any Loan Party be required by any Supplemental Agent so appointed by the Administrative Agent or the Collateral Agent for more fully and certainly vesting in and confirming to him or it such rights, powers, privileges and duties, such Loan Party shall execute, acknowledge and deliver any and all such instruments promptly upon request by the Administrative Agent or the Collateral Agent. In case any Supplemental Agent, or a successor thereto, shall die, become incapable of acting, resign or be removed, all the rights, powers, privileges and duties of such Supplemental Agent, to the extent permitted by Law, shall vest in and be exercised by the Administrative Agent until the appointment of a new Supplemental Agent.

Section 9.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Withholding Tax Indemnity</u>. To the extent required by any applicable law, the Administrative Agent may withhold from any payment to any Lender an amount equivalent to any applicable withholding Tax. If the Internal Revenue Service or any other authority of the United States or other jurisdiction asserts a claim that the Administrative Agent did not properly withhold Tax from amounts paid to or for the account of any Lender for any reason (including because the appropriate form was not delivered or not properly executed, or because such Lender failed to notify the Administrative

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Agent of a change in circumstance that rendered the exemption from, or reduction of withholding Tax ineffective), such Lender shall, within ten (10) days after written demand therefor, indemnify and hold harmless the Administrative Agent (to the extent that the Administrative Agent has not already been reimbursed by the Borrower pursuant to <u>Section 3.01</u> and <u>Section 3.04</u> and without limiting or expanding the obligation of the Borrower to do so) for all amounts paid, directly or indirectly, by the Administrative Agent as Taxes or otherwise, together with all expenses incurred, including legal expenses and any other out-of-pocket expenses, whether or not such Tax was correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document against any amount due the Administrative Agent under this <u>Section 9.14</u>. The agreements in this <u>Section 9.14</u> shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender and the repayment, satisfaction or discharge of all other Obligations. For purposes of this Section 9.14, the term "Lender" includes any Issuing Bank.

Section 9.15&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of the Administrative Agent, the Lead Arrangers and their respective Affiliates, that at least one of the following is and will be true:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;such Lender is not using "plan assets" (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender's entrance into, participation in, administration of and performance of the Term Loans, the Revolving Loans, the Letters of Credit or this Agreement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the transaction exemption set forth in one or more PTEs, such as PTE 8414 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 9623 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender's entrance into, participation in, administration of and performance of the Term Loans, the Revolving Loans, the Letters of Credit and this Agreement,

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Lead Arrangers and their respective Affiliates that none of the Administrative Agent, any of the Lead Arrangers or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in such Lender's entrance into, participation in, administration of and performance of the Term Loans, the Revolving Loans, the Letters of Credit and this Agreement (including in connection with the reservation of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto).

Section 9.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Erroneous Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender hereby acknowledges and agrees that if the Administrative Agent notifies such Lender that the Administrative Agent has determined in its sole discretion that any funds (or any portion thereof) received by such Lender (any of the foregoing, a "**Recipient**") from the Administrative Agent (or any of its Affiliates) were erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Recipient (whether or not known to such Recipient) (whether as a payment, prepayment or repayment of principal, interest, fees or otherwise; individually and collectively, a "**Payment**") and demands the return of such Payment, such Recipient shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment as to which such a demand was made. A notice of the Administrative Agent to any Recipient under this Section shall be conclusive, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Without limitation of <u>clause (a)</u> above, each Recipient further acknowledges and agrees that if such Recipient receives a Payment from the Administrative Agent (or any of its Affiliates) (i) that is in an amount, or on a date different from the amount and/or date specified in a notice of payment sent by the Administrative Agent (or any of its Affiliates) with respect to such Payment (a "**Payment Notice**"), (ii) that was not preceded or accompanied by a Payment Notice, or (iii) that such Recipient otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part), in each case, it understands and agrees at the time of receipt of such Payment that an error has been made (and that it is deemed to have knowledge of such error) with respect to such Payment. Each Recipient agrees that, in each such case, it shall promptly notify the Administrative Agent of such occurrence and, upon demand from the Administrative Agent, it shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment (or portion thereof) as to which such a demand was made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Any Payment required to be returned by a Recipient under this Section shall be made in Same Day Funds in the currency so received, together with interest thereon in respect of each day from and including the date such Payment (or portion thereof) was received by such Recipient to the date such amount is repaid to the Administrative Agent at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. Each Recipient hereby agrees that it shall not assert and, to the fullest extent permitted by applicable law, hereby waives, any right to retain such Payment, and any

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claim, counterclaim, defense or right of set-off or recoupment or similar right to any demand by the Administrative Agent for the return of any Payment received, including without limitation any defense based on "discharge for value" or any similar doctrine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower and each other Loan Party hereby agrees that (i) in the event an erroneous Payment (or portion thereof) is not recovered from any Lender that has received such Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the rights of such Lender with respect to such amount and (ii) an erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the Borrower or any other Loan Party except, in each case, to the extent such erroneous Payment is, and with respect to the amount of such erroneous Payment that is, comprised of funds of the Borrower or any other Loan Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Each party's obligations, agreements and waivers under this <u>Section 9.16</u> shall survive the resignation or replacement of the Administrative Agent, any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments and/or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.

**ARTICLE X <br>MISCELLANEOUS**

Section 10.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments, Etc.</u> Except as otherwise set forth in this Agreement and subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement), no amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by any Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders (*provided*, that amendments or waivers of the Loan Documents that affect solely the Revolving Lenders under the Revolving Facility or solely the Term Lenders under the Term Facility, will require only the consent of the Required Revolving Lenders or Required Term Lenders, as applicable), or by the Administrative Agent with the consent of the Required Lenders (*provided*, that amendments or waivers of the Loan Documents that affect solely the Revolving Lenders under the Revolving Facility or solely the Term Lenders under the Term Facility, will require only the consent of the Required Revolving Lenders or Required Term Lenders, as applicable), and such Loan Party (with an executed copy thereof promptly delivered to the Administrative Agent if not otherwise a party thereto) and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; *provided* that any amendment or waiver contemplated in clause (h) below, shall only require the consent of such Loan Party and the Required Facility Lenders under the applicable Facility, as applicable; *provided, further,* that no such amendment, waiver or consent shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;extend or increase the Commitment of any Lender without the written consent of each Lender holding such Commitment (it being understood that a waiver of any condition precedent or of any Default, mandatory prepayment or mandatory reduction of the Commitments shall not constitute an extension or increase of any Commitment of any Lender);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;postpone any date scheduled for, or reduce or forgive the amount of, any payment of principal or interest under <u>Sections 2.05</u> or <u>2.06</u> without the written consent of each Lender holding the applicable Obligation (it being understood that the waiver of (or amendment to the terms of) any mandatory prepayment of the Term Loans shall not constitute a postponement of any date scheduled for the payment of principal or interest);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;reduce or forgive the principal of, or the rate of interest specified herein on, any Loan or any fees or other amounts payable hereunder or under any other Loan Document (or change the timing of payments of such fees or other amounts) without the written consent of each Lender holding such Loan or to whom such fee or other amount is owed; *provided* that only the consent of the Required Lenders shall be necessary to amend the definition of "Default Rate" or to waive any obligation of the Borrower to pay interest at the Default Rate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;change any provision of <u>Section 8.04</u> or <u>10.01</u> or the definition of "Required Lenders," "Required Term Lenders," "Required Revolving Lenders," "Required Class Lenders," "Required Facility Lenders" or any other provision specifying the number of Lenders or portion of the Loans or Commitments required to take any action under the Loan Documents, in each case, without the written consent of each Lender directly and adversely affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;other than in connection with a transaction permitted under <u>Sections 7.04</u> or <u>7.05</u> or under <u>Section 9.11</u>, release all or substantially all of the Collateral in any transaction or series of related transactions, without the written consent of each Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;other than in connection with a transaction permitted under <u>Sections 7.04</u> or <u>7.05</u> or under <u>Section 9.11</u>, release all or substantially all of the aggregate value of the Guarantees provided by the Guarantors, without the written consent of each Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;amend, waive or otherwise modify the portion of the definition of "Interest Period" that provides for one (1), three (3) or six (6) month intervals to automatically allow intervals in excess of six (6) months, without the written consent of each Lender affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;amend, waive or otherwise modify any term or provision (including the availability and conditions to funding under <u>Section 2.12</u> (but not the conditions to implementing Incremental Term Loans or Incremental Revolving Commitments pursuant to <u>Section 2.12(d)</u>) with respect to Incremental Term Loans and Incremental Revolving Commitments and, in each case, the rate of interest applicable thereto) which directly affects Lenders of one or more Incremental Term Loans or Incremental Revolving Commitments and does not directly affect Lenders under any other Facility, in each case, without the written consent of the Required Facility Lenders under such applicable Incremental Term Loans or Incremental Revolving Commitments (and in the case of multiple Facilities which are affected, with respect to any such Facility, such consent shall be effected by the Required Facility Lenders of such Facility); *provided*, *however*, that (A) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent, the Collateral Agent or the Issuing Banks, as applicable, in addition to the Lenders required above, affect the rights or duties of, or any fees or other amounts payable to, the Administrative Agent, the Collateral Agent or the Issuing Banks, as applicable, under this Agreement or any other Loan Document and (B) the consent of the Required Class Lenders of any Class of Commitments or Loans shall be required with respect to any amendment that by its terms adversely affects the rights of such Class in respect of payments or Collateral hereunder in a manner different than such amendment affects other Classes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;change any provision of <u>Section 2.10(a)</u>, <u>Section 2.11</u> or the definition of "Pro Rata Share" or any other provision of this Agreement that expressly governs the *pro rata* sharing of payments or the application of payments of proceeds from Collateral, in each case, in any manner that would alter the *pro rata* sharing of payments or other amounts or the order of application required hereunder, without the written consent of each Lender directly and adversely affected thereby; *provided* that modifications of the definition of "Pro Rata Share" in connection with (x) any buy-back of Term Loans by the Parent or

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the Borrower pursuant to <u>Section 10.07(m)</u> or (y) any Incremental Amendment, in each case, shall only require approval (to the extent any such approval is otherwise required) of the Required Lenders and the Required Class Lenders of any Class of Commitments or Loans with respect to any such amendment that by its terms adversely affects the rights of such Class in respect of payments or Collateral hereunder in a manner different than such amendment affects other Classes; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;(x) subordinate, or have the effect of subordinating, any of the Obligations in right of payment to any other Indebtedness for borrowed money or (y) subordinate, or have the effect of subordinating, the Lien securing any of the Obligations on all or substantially all of the Collateral to any other Lien securing any other Indebtedness (except as provided in <u>Section 9.11</u> (without giving effect to any amendment the primary purpose of which is to permit the subordination of the Lien securing any of the Obligations on all or substantially all of the Collateral)), in each case, without the consent of each Lender affected thereby; *provided* that no such Lender's consent shall be required pursuant to this <u>Section 10.01(j)</u> with respect to any debtor-in-possession financing.

Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms materially and adversely affects any Defaulting Lender (if such Lender were not a Defaulting Lender) to a greater extent than other affected Lenders shall require the consent of such Defaulting Lender.

Notwithstanding anything to the contrary in this <u>Section 10.01</u>, no Lender consent is required in connection with the execution and delivery by the Collateral Agent of any First Lien Intercreditor Agreement, any Junior Lien Intercreditor Agreement or other Intercreditor Agreement or arrangement permitted under this Agreement (or any supplement or amendment thereto, or an amendment and restatement thereof) that is for the purpose of adding (i) the Other Debt Representative with respect to any Indebtedness permitted under <u>Section 7.03</u> where such Indebtedness is secured by Permitted Liens that the Borrower elects to secure on a *pari passu* basis with the Liens securing the Obligations or (ii) the Other Debt Representative with respect to Indebtedness permitted under <u>Section 7.03</u> where such Indebtedness is secured by Permitted Liens that the Borrower elects to secure on a junior basis to the Liens securing the Obligations (it being understood that the Borrower may make such other changes to the applicable Intercreditor Agreement (including in connection with any supplement or amendment thereto, or amendment and restatement thereof) as, in the good faith determination of the Borrower are required to effectuate the foregoing and *provided* that such other changes are not adverse, in any material respect, to the interests of the Lenders (as determined by the Borrower)); *provided*, *further*, that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent or the Collateral Agent hereunder or under any other Loan Document without the prior written consent of the Administrative Agent or the Collateral Agent, as applicable.

Notwithstanding anything to the contrary in this <u>Section 10.01</u>, this Agreement and any other Loan Document may be amended solely with the consent of the Administrative Agent and/or the Collateral Agent (if applicable) and the Borrower without the need to obtain the consent of any other Lender if such amendment is delivered in order (A) to correct or cure ambiguities, errors, omissions or defects, (B) to effect administrative changes of a technical or immaterial nature, (C) to fix incorrect cross references or similar inaccuracies in this Agreement or the applicable Loan Document, (D) to implement

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the "market flex" provisions set forth in the Fee Letters, (E) add any financial covenant or other terms for the benefit of all Lenders or any Class of Lenders pursuant to the conditions imposed on the incurrence of any Indebtedness set forth elsewhere in this Agreement and (F) to implement amendments permitted by the Intercreditor Agreements, this Agreement or the other Collateral Documents that do not by the terms of the Intercreditor Agreements or other Collateral Documents require lender consent, and, in each case of clauses (A), (B) and (C), such amendment shall become effective without any further action or the consent of any other party to any Loan Document if the same is not objected to in writing by the Required Lenders within five (5) Business Days following receipt of notice thereof. The Collateral Documents and related documents in connection with this Agreement and the other Loan Documents may be in a form reasonably determined by the Administrative Agent and may be, together with this Agreement, amended, supplemented and waived with the consent of the Administrative Agent and/ or the Collateral Agent (if applicable) at the request of the Borrower without the need to obtain the consent of any other Lender if such amendment, supplement or waiver is delivered in order (i) to comply with local Law or advice of local counsel, (ii) to correct or cure ambiguities, omissions, mistakes or defects or (iii) to cause such Collateral Documents or other document to be consistent with this Agreement and the other Loan Documents and, in each case, such amendment shall become effective without any further action or the consent of any other party to any Loan Document if the same is not objected to in writing by the Required Lenders within five (5) Business Days following receipt of notice thereof.

Notwithstanding anything in this Agreement or any other Loan Document to the contrary, the Borrower and the Administrative Agent may enter into any Incremental Amendment in accordance with <u>Section 2.12</u> and any Refinancing Amendment in accordance with <u>Section 2.13</u> and such Incremental Amendments and Refinancing Amendments shall be effective to amend the terms of this Agreement and the other applicable Loan Documents, in each case, without any further action or consent of any other party to any Loan Document. In addition, upon the initial incurrence of any Loans intended to be secured on a basis junior in right of priority to the Obligations or intended to be unsecured pursuant to any Incremental Amendment or Refinancing Amendment, the Borrower, the Administrative Agent and the Collateral Agent may, without the need to obtain consent of any other Lender, make changes to the Loan Documents reasonably satisfactory to the Borrower, the Administrative Agent and the Collateral Agent that are necessary to reflect the junior Lien status or unsecured status of such Loans, including but not limited to (i) entering into the Junior Lien Intercreditor Agreement by the Collateral Agent on behalf of the holders of such junior lien Loans, (ii) including such Loans in the definition of "Latest Maturity Date" or Weighted Average Life to Maturity limitations but only with respect to future Indebtedness secured on a junior lien basis to the Lien securing the Initial Term Loans and the Initial Revolving Loans or unsecured (or not secured by the Collateral) and (iii) amending the Collateral Documents to exclude unsecured Loans from "Obligations" secured thereby.

Notwithstanding anything to the contrary herein, at any time and from time to time, upon notice to the Administrative Agent (who shall promptly notify the applicable Lenders) specifying in reasonable detail the proposed terms thereof, the Borrower may make one or more loan modification offers to all the Lenders of any Facility that would, if and to the extent accepted by any such Lender, (a) change the Applicable Rate and/or fees payable with respect to the Loans and Commitments under such Facility (in each case solely with respect to the Loans and Commitments of accepting Lenders in respect of which an acceptance is delivered) and (b) treat the Loans and Commitments so modified as a new "Facility" and a new "Class" for all purposes under this Agreement; *provided* that (i) such loan modification offer is made to each Lender under the applicable Facility on the same terms and subject to the same procedures as are applicable to all other Lenders under such Facility (which procedures in any case shall be reasonably satisfactory to the Administrative Agent) and (ii) no loan modification shall affect the rights or duties of, or any fees or other amounts payable to, the Administrative Agent without its prior written consent.

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In connection with any such loan modification, the Borrower and each accepting Lender shall execute and deliver to the Administrative Agent such agreements and other documentation as the Administrative Agent shall reasonably specify to evidence the acceptance of the applicable loan modification offer and the terms and conditions thereof, and this Agreement and the other Loan Documents shall be amended in a writing (which may be executed and delivered by the Borrower and the Administrative Agent and shall be effective only with respect to the applicable Loans and Commitments of Lenders that shall have accepted the relevant loan modification offer (and only with respect to Loans and Commitments as to which any such Lender has accepted the loan modification offer)) to the extent necessary or appropriate, in the judgment of the Administrative Agent, to reflect the existence of, and to give effect to the terms and conditions of, the applicable loan modification (including the addition of such modified Loans and/or Commitments as a "Facility" or a "Class" hereunder). No Lender shall have any obligation whatsoever to accept any loan modification offer, and may reject any such offer in its sole discretion. Notwithstanding the foregoing, no modification referred to above shall become effective unless the Administrative Agent, to the extent reasonably requested by the Administrative Agent, shall have received legal opinions, board resolutions, officer's certificates and/or reaffirmation agreements consistent with those delivered on the Closing Date under <u>Section 4.01</u> with respect to the Borrower and the other Loan Parties.

Section 10.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices and Other Communications; Facsimile Copies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*General.* Unless otherwise expressly provided herein, all notices and other communications provided for hereunder or under any other Loan Document shall be in writing (including by facsimile transmission or electronic mail). All such written notices shall be mailed, faxed or delivered to the applicable address, facsimile number or electronic mail address, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if to the Borrower (or any other Loan Party) or the Administrative Agent or the Collateral Agent, to the address, facsimile number, electronic mail address or telephone number specified for such Person on <u>Schedule 10.02(a)</u> or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the other parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the Borrower and the Administrative Agent or the Collateral Agent.

All such notices and other communications shall be deemed to be given or made upon the earlier to occur of (i) actual receipt by the relevant party hereto and (ii) (A) if delivered by hand or by courier, when signed for by or on behalf of the relevant party hereto; (B) if delivered by mail, four (4) Business Days after deposit in the mails, postage prepaid; (C) if delivered by facsimile, when sent and receipt has been confirmed by telephone; and (D) if delivered by electronic mail (which form of delivery is subject to the provisions of <u>Section 10.02(d)</u>), when delivered; *provided* that notices and other communications to the Administrative Agent and the Collateral Agent pursuant to <u>Article II</u> shall not be effective until actually received by such Person. In no event shall a voice mail message be effective as a notice, communication or confirmation hereunder. Any notice not given during normal business hours for the recipient shall be deemed to have been given at the opening of business on the next Business Day for the recipient.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Effectiveness of Facsimile Documents and Signatures.* Loan Documents may be transmitted and/or signed by facsimile or other electronic communication. The effectiveness of any such documents and signatures shall, subject to applicable Law, have the same force and effect as manually signed originals and shall be binding on all Loan Parties, the Agents and the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Reliance by Agents and Lenders.* The Administrative Agent, the Collateral Agent and the Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices) purportedly given by or on behalf of the Loan Parties even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify each Agent-Related Person and each Lender from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Loan Parties in the absence of bad faith, gross negligence or willful misconduct as determined in a final and non-appealable judgment by a court of competent jurisdiction. All telephonic notices to the Administrative Agent or Collateral Agent may be recorded by the Administrative Agent or the Collateral Agent, and each of the parties hereto hereby consents to such recording.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Electronic Communications*. Notices and other communications to the Lenders hereunder may be delivered or furnished by FpML messaging and Internet or intranet websites pursuant to procedures approved by the Administrative Agent acting reasonably, *provided* that the foregoing shall not apply to notices to any Lender pursuant to <u>Article II</u> if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by such communication. The Administrative Agent or the Borrower may each, in its discretion, agree to accept notices and other communications to it hereunder by FpML messaging and Internet or intranet websites pursuant to procedures approved by it, *provided* that approval of such procedures may be limited to particular notices or communications. Unless the Administrative Agent otherwise prescribes, notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address of notification that such notice or communication is available and identifying the website address therefor.

Section 10.03&nbsp;&nbsp;&nbsp;&nbsp;<u>No Waiver; Cumulative Remedies</u>. No failure by any Lender or the Administrative Agent or the Collateral Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by Law.

Section 10.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Attorney Costs and Expenses</u>. The Borrower agrees (a) if the Closing Date occurs, to pay or reimburse the Administrative Agent, the Collateral Agent and the Lead Arrangers for all reasonable and documented out-of-pocket costs and expenses incurred in connection with the preparation, negotiation, syndication and execution of this Agreement and the other Loan Documents, and any amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or not the transactions contemplated thereby are consummated), and the consummation and administration of the transactions contemplated hereby and thereby (including all Attorney Costs, which shall be limited to one primary counsel for the Administrative Agent, the Collateral Agent and the Lead Arrangers (which shall be Skadden, Arps, Slate, Meagher & Flom LLP for any and all of the foregoing in connection with the Transactions and other matters, including primary syndication, to occur on or prior to or otherwise in connection with the Closing Date)) and one local counsel for the Administrative Agent, the Collateral

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Agent and the Lead Arrangers as reasonably necessary in each relevant jurisdiction material to the interests of the Lenders and the Issuing Banks taken as a whole (and solely in the case of an actual or perceived conflict of interest, one additional counsel in each relevant jurisdiction that is material to each group of similarly situated affected Indemnitees) and (b) from and after the Closing Date, to pay or reimburse the Administrative Agent, the Collateral Agent, the Lead Arrangers, the Issuing Banks and each Lender for all reasonable and documented out-of-pocket costs and expenses incurred in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of any rights or remedies under this Agreement or the other Loan Documents (including all such costs and expenses incurred during any legal proceeding, including any proceeding under any Debtor Relief Law), and including all respective Attorney Costs which shall be limited to Attorney Costs of one counsel to the Administrative Agent, the Collateral Agent and the Lead Arrangers (and one local counsel to the Administrative Agent, the Collateral Agent and the Lead Arrangers as reasonably necessary in each relevant jurisdiction material to the interests of the Lenders and the Issuing Banks taken as a whole (and solely in the case of an actual or perceived conflict of interest, one additional counsel in each relevant jurisdiction that is material to each group of similarly situated affected Indemnitees)). The foregoing costs and expenses shall include all reasonable search, filing, recording and title insurance charges and fees related thereto, and other reasonable and documented out-of-pocket expenses incurred by any Agent. The agreements in this <u>Section 10.04</u> shall survive the termination of the Aggregate Commitments, the repayment of all other Obligations and the resignation or removal of the Administrative Agent and the Collateral Agent. All amounts due under this <u>Section 10.04</u> shall be paid within thirty (30) days after receipt by the Borrower of an invoice relating thereto setting forth such expenses in reasonable detail including, if requested by the Borrower and to the extent reasonably available, backup documentation supporting such reimbursement request; *provided* that, with respect to the Closing Date, all amounts due under this <u>Section 10.04</u> shall be paid on the Closing Date solely to the extent invoiced to the Borrower within three (3) Business Days of the Closing Date. If any Loan Party fails to pay when due any costs, expenses or other amounts payable by it hereunder or under any Loan Document, such amount may be paid on behalf of such Loan Party by the Administrative Agent in its sole discretion.

For the avoidance of doubt, this <u>Section 10.04</u> shall not apply to Taxes.

Section 10.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification by the Borrower</u>. The Borrower shall indemnify and hold harmless each Agent-Related Person, each Lender and Issuing Bank and their respective Affiliates and their respective officers, directors, employees, partners, agents, advisors and other representatives of each of the foregoing (collectively the "**Indemnitees**") from and against any and all liabilities (including Environmental Liabilities), obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements (including Attorney Costs but limited in the case of legal fees and expenses to the reasonable and documented out-of-pocket fees, disbursements and other charges of one counsel to all Indemnitees taken as a whole and, if reasonably necessary, one local counsel for all Indemnitees taken as a whole in each relevant jurisdiction that is material to the interests of the Lenders and the Issuing Banks, and solely in the case of an actual or perceived conflict of interest, one additional counsel in each relevant material jurisdiction for all affected Indemnitees that are similarly situated taken as a whole) of any kind or nature whatsoever which may at any time be imposed on, incurred by or asserted against any such Indemnitee in any way arising out of or in connection with (a) the execution, delivery, enforcement, performance or administration of any Loan Document or any other agreement, letter or instrument delivered in connection with the transactions contemplated thereby or the consummation of the transactions contemplated thereby, (b) any Commitment or Loan or the use or proposed use of the proceeds therefrom, or (c) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (including any investigation of, preparation for, or defense of any pending or threatened claim, investigation,

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litigation or proceeding), whether brought by a third party or by the Borrower or other Loan Party, and regardless of whether any Indemnitee is a party thereto (all the foregoing, collectively, the "**Indemnified Liabilities**") in all cases, whether or not caused by or arising, in whole or in part, out of the negligence of the Indemnitee; *provided* that, notwithstanding the foregoing, such indemnity shall not, as to any Indemnitee, be available to the extent that such liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses or disbursements (x) resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or of any of its Affiliates or Controlling Persons or their respective directors, officers, employees, partners, agents, advisors or other representatives, as determined by a final non-appealable judgment of a court of competent jurisdiction, (y) arising from a material breach of any obligations under any Loan Document by such Indemnitee or of any of its Affiliates or Controlling Persons or their respective directors, officers, employees, partners, agents, advisors or other representatives, as determined by a final non-appealable judgment of a court of competent jurisdiction or (z) arising from any dispute solely among Indemnitees (other than any claims against an Indemnitee in its capacity or in fulfilling its role as the Administrative Agent, a Lead Arranger or any similar role under any Facility and other than any claims arising out of any act or omission of the Borrower or any of its Affiliates). No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through Debtdomain, Roadshow Access (if applicable) or other similar information transmission systems in connection with this Agreement or any other Loan Document, except to the extent such damages have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or of any of its Affiliates or Controlling Persons or their respective directors, officers, employees, partners, agents, advisors or other representatives, as determined by a final non-appealable judgment of a court of competent jurisdiction, nor, to the extent permissible under applicable Law, shall (A) any Indemnitee or (B) any Loan Party, Sponsor or any of their respective Affiliates have any liability for any special, punitive, indirect or consequential damages relating to this Agreement or any other Loan Document or arising out of its activities in connection herewith or therewith (whether before or after the Closing Date) (other than, in the case of the preceding clause (B), in respect of any such damages incurred or paid by an Indemnitee to a third party and for any out-of-pocket expenses in each case subject to the indemnification provisions of this <u>Section 10.05</u>); it being agreed that this sentence shall not limit the indemnification obligations of the Borrower or any other Loan Party. In the case of an investigation, litigation or other proceeding to which the indemnity in this <u>Section 10.05</u> applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by any Loan Party, its directors, stockholders or creditors or an Indemnitee or any other Person, whether or not any Indemnitee is otherwise a party thereto and whether or not any of the transactions contemplated hereunder or under any of the other Loan Documents are consummated. All amounts due under this <u>Section 10.05</u> shall be paid within thirty (30) days after written demand therefor (together with backup documentation supporting such reimbursement request); *provided*, *however*, that such Indemnitee shall promptly refund the amount of any payment to the extent that there is a final judicial or arbitral determination that such Indemnitee was not entitled to indemnification rights with respect to such payment pursuant to the express terms of this <u>Section 10.05</u>.

The agreements in this <u>Section 10.05</u> shall survive the resignation or removal of the Administrative Agent or Collateral Agent, the replacement of any Lender or Issuing Bank, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. For the avoidance of doubt, this <u>Section 10.05</u> shall not apply to Taxes, except any Taxes that represent liabilities, obligations, losses, damages, penalties, claims, demands, actions, prepayments, suits, costs, expenses and disbursements arising from any non-Tax claims.

Section 10.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments Set Aside</u>. To the extent that any payment by or on behalf of the Borrower is made to any Agent or any Lender, or any Agent or any Lender exercises its right of setoff,

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and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by such Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall, to the fullest extent possible under provisions of applicable Law, be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share of any amount so recovered from or repaid by any Agent, *plus* interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Overnight Bank Funding Rate from time to time in effect, in the applicable currency of such recovery or payment.

Section 10.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (except as permitted by <u>Section 7.04</u>) and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Assignee pursuant to an assignment made in accordance with the provisions of <u>Section 10.07(b)</u> (such an assignee, an "**Eligible Assignee**") and (A) with respect to Term Loans, in the case of any Assignee that, immediately prior to or upon giving effect to such assignment, is an Affiliated Lender, <u>Section 10.07(k)</u>, (B) with respect to Term Loans, in the case of any Assignee that is the Parent or the Borrower, <u>Section 10.07(l)</u>, or (C) with respect to Term Loans, in the case of any Assignee that, immediately prior to or upon giving effect to such assignment, is a Debt Fund Affiliate, <u>Section 10.07(o)</u>, (ii) by way of participation in accordance with the provisions of <u>Section 10.07(f),</u> or (iii) by way of pledge or assignment of a security interest subject to the restrictions of <u>Section 10.07(h)</u> (and any other attempted assignment or transfer by any party hereto shall be null and void); *provided*, *however*, that notwithstanding anything to the contrary, no Lender may assign or transfer by participation any of its rights or obligations hereunder to (i) any Person that is a Defaulting Lender or a Disqualified Lender (so long as the Administrative Agent may make a schedule thereof available to any Lender upon request, in each case, subject to the confidentiality provisions of <u>Section 10.08</u>) (*provided* that any update to the list of Disqualified Lenders shall not apply retroactively to disqualify any Person that has previously acquired an assignment or participation in any Facility and any failure of the Borrower to respond to any request for consent of assignment shall not cause such Person to cease to constitute a Disqualified Lender), (ii) a Natural Person or (iii) the Borrower (except, with respect to Term Loans, pursuant to <u>Section 10.07(l)</u>). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in <u>Section 10.07(f)</u> and, to the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement.

Any assignment or participation of a Loan or Commitment by a Lender without the Borrower's consent (A) to a Disqualified Lender or (B) to the extent the Borrower's consent is required under this <u>Section 10.07</u>, to any other Person, shall be null and void, and, in the event of any assignment or participation of any Loan or Commitment by a Lender in breach of the foregoing, the Borrower shall be entitled to seek specific performance to unwind any such assignment or participation in addition to any other remedies available to the Borrower at law or in equity. In addition, the Borrower may (i) terminate any Commitment of such Person and prepay any applicable outstanding Loans at a price equal to the lesser of par and the amount such Person paid to acquire such Loans, without premium, penalty,

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prepayment fee or breakage, and/or (ii) require such person to assign its rights and obligations to one or more Eligible Assignees at the price indicated above (which assignment shall not be subject to any processing and recordation fee) and if such Person does not execute and deliver to the Administrative Agent a duly executed Assignment and Assumption reflecting such assignment within five (5) Business Days of the date on which the assignee Lender executes and delivers such Assignment and Assumption to such Person, then such Person shall be deemed to have executed and delivered such Assignment and Assumption without any action on its part. In addition, (a) no such Person shall receive any information or reporting provided by the Borrower, the Administrative Agent, the Collateral Agent or any Lender, (b) for purposes of voting, any Loans or Commitments held by such Person shall be deemed not to be outstanding, and such Person shall have no voting or consent rights with respect to "Required Lender," "Required Term Lender," "Required Revolving Lender," or class votes or consents, (c) for purposes of any matter requiring the vote or consent of each Lender affected by any amendment or waiver, such Person shall be deemed to have voted or consented to approve such amendment or waiver if a majority of the affected class (giving effect to clause (b) above) so approves and (d) such Person shall not be entitled to any expense reimbursement or indemnification rights and shall be treated in all other respects as a Defaulting Lender; it being understood and agreed that the foregoing provisions shall only apply to the Person specified in clauses (A) or (B) of the first sentence of this paragraph and not to any assignee of such Person that becomes a Lender so long as such assignee is not a Disqualified Lender or an affiliate thereof and becomes an assignee in accordance with the provisions of this <u>Section 10.07</u>. Nothing in this Agreement shall be deemed to prejudice any right or remedy that the Borrower may otherwise have at law or equity. Each Lender acknowledges and agrees that the Borrower will suffer irreparable harm if such Lender breaches any obligation under this <u>Section 10.07</u>. Additionally, each Lender agrees that the Borrower may seek to obtain specific performance or other equitable or injunctive relief to enforce this paragraph against such Lender with respect to such breach without posting a bond or presenting evidence of irreparable harm.

The Administrative Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified Lenders. Without limiting the generality of the foregoing, the Administrative Agent shall not (a) be obligated to ascertain, monitor or inquire as to whether any Lender or participant or prospective Lender or participant is a Disqualified Lender or (b) have any liability with respect to any assignment or participation of loans, or disclosure of confidential information, to any Disqualified Lender. Notwithstanding anything to the contrary, nothing in the foregoing shall prejudice any right or remedy that the Borrower may have at law or in equity against any Lender who enters into an assignment, participation or other transaction (including the disclosure of confidential information) with a Disqualified Lender in contravention of the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) Subject to <u>Section 10.07(a)</u> and the conditions set forth in paragraph (b)(ii) below, any (x) Term Lender may assign to one or more assignees ("**Assignees**") all or a portion of its rights and obligations under this Agreement in respect to the Term Facility, including all or a portion of its Term Commitment and Term Loans at the time owing to it and (y) Revolving Lender may assign to one or more Assignees all or a portion of its rights and obligations under this Agreement in respect to the Revolving Facility, including all or a portion of its Revolving Commitment and Revolving Loans (including for purposes of this <u>Section 10.07(b)</u>, participations in L/C Obligations) at the time owing to it, with the prior written consent (such consent not to be unreasonably withheld, delayed or conditioned) of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower; *provided* that no consent of the Borrower shall be required for (i) (a) an assignment of all or any portion of the Term Loans to a Term Lender, an Affiliate of a Term Lender or an Approved Fund or (b) an assignment of all or any

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portion of the Revolving Loans to a Revolving Lender or an Affiliate of a Revolving Lender, (ii) if an Event of Default has occurred and is continuing or (iii) an assignment of all or a portion of the Term Loans pursuant to <u>Section 10.07(k)</u> or <u>Section 10.07(l)</u>; provided, further, that the Borrower shall be deemed to have consented to any such assignment of any Loans unless it shall have objected thereto by written notice to the Administrative Agent within fifteen (15) Business Days after having received notice thereof to a Responsible Officer of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the Administrative Agent; *provided* that no consent of the Administrative Agent shall be required for an assignment (i) (a) of all or any portion of a Term Loan to a Term Lender, an Affiliate of a Term Lender or an Approved Fund or (b) of all or any portion of a Revolving Loan to a Revolving Lender or an Affiliate of a Revolving Lender or (ii) all or any portion of the Term Loans pursuant to <u>Section 10.07(k)</u> or <u>Section 10.07(l)</u>; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;in the case of an assignment of rights and obligations under the Revolving Facility, the Issuing Banks (such consent not to be unreasonably withheld, delayed or conditioned) in case of any assignment contemplated by <u>Section 10.07(b)(i)(y)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Assignments shall be subject to the following additional conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;except in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund (with respect to Term Loans) or an assignment of the entire remaining amount of the assigning Lender's Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $1,000,000 and shall be in increments of $1,000,000 in excess thereof (*provided* that, with respect to Term Loans, simultaneous assignments to or from two or more Approved Funds shall be aggregated for purposes of determining compliance with this <u>Section 10.07(b)(ii)(A)</u>), unless each of the Borrower and the Administrative Agent otherwise consents; *provided* that such amounts shall be aggregated in respect of each Lender and its Affiliates or Approved Funds (with respect to Term Loans), if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption via an electronic settlement system acceptable to the Administrative Agent (or if previously agreed with the Administrative Agent, manually), together with a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the Administrative Agent); *provided* that only one such fee shall be payable in the event of simultaneous assignments to or from two or more Approved Funds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;other than in the case of assignments pursuant to <u>Section 10.07(l)</u> with respect to Term Loans, the Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire (in which the Assignee shall designate one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Loan Parties and their Affiliates or their respective securities) will be made available and who may receive such

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information in accordance with the Assignee's compliance procedures and applicable laws, including federal and state securities laws) and all applicable tax forms required pursuant to <u>Section 3.01(d)</u>.

This paragraph (b) shall not prohibit any Lender from assigning all or a portion of its rights and obligations among separate Facilities on a non-*pro rata* basis among such Facilities.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Subject to acceptance and recording thereof by the Administrative Agent pursuant to <u>Sections 10.07(d)</u> and <u>(e)</u>, from and after the effective date specified in each Assignment and Assumption, (1) other than in connection with an assignment pursuant to <u>Section 10.07(l)</u> with respect to Term Loans, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and (2) the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of <u>Sections 3.01</u>, <u>3.04</u>, <u>3.05</u>, <u>10.04</u> and <u>10.05</u> with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, and the surrender by the assigning Lender of its Note, the Borrower (at their expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this clause (c) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with <u>Section 10.07(f)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at one of its offices in the United States a copy of each Assignment and Assumption, each Affiliated Lender Assignment and Assumption delivered to it, and each notice of cancellation of any Loans delivered by the Borrower to the Administrative Agent pursuant to <u>Section 10.07(l)</u> (with respect to Term Loans) and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and related interest amounts) of the Loans, L/C Obligations (specifying Unreimbursed Amounts) and L/C Borrowings owing to, each Lender pursuant to the terms hereof from time to time (the "**Register**"). The entries in the Register shall be conclusive, absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the

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Borrower, any Agent, any Lender with respect to such Lender's own interest only, any Issuing Bank with respect to the Revolving Facility and any other Person to the extent necessary to establish that such obligations are in registered form under Section 5f.103-1(c) of the Treasury Regulations, at any reasonable time and from time to time upon reasonable prior notice. This <u>Section 10.07(d)</u> and <u>Section 2.09</u> shall be construed so that all Loans are at all times maintained in "registered form" within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code and any related Treasury Regulations (or any other relevant or successor provisions of the Code or of such Treasury Regulations). Notwithstanding the foregoing, in no event shall the Administrative Agent be obligated to ascertain, monitor or inquire as to whether any Lender is an Affiliated Lender nor shall the Administrative Agent be obligated to monitor the aggregate amount of Term Loans or Incremental Term Loans held by Affiliated Lenders. Upon request by the Administrative Agent, the Borrower shall (i) promptly (and in any case, not less than five (5) Business Days (or shorter period as agreed to by the Administrative Agent) prior to the proposed effective date of any amendment, consent or waiver pursuant to <u>Section 10.01</u>) provide to the Administrative Agent, a complete list of all Affiliated Lenders holding Term Loans or Incremental Term Loans at such time and (ii) not less than five (5) Business Days (or shorter period as agreed to by the Administrative Agent) prior to the proposed effective date of any amendment, consent or waiver pursuant to <u>Section 10.01</u>, provide to the Administrative Agent, a complete list of all Debt Fund Affiliates holding Term Loans or Incremental Term Loans at such time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Upon its receipt of, and consent to, a duly completed Assignment and Assumption executed by an assigning Lender and an Assignee, an Administrative Questionnaire completed in respect of the assignee (unless the Assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) above, if applicable, and the written consent of the Administrative Agent, if required, and, if required, the Borrower to such assignment and any applicable tax forms required pursuant to <u>Section 3.01(d)</u>, the Administrative Agent shall promptly (i) accept such Assignment and Assumption and (ii) record the information contained therein in the Register. No assignment shall be effective unless it has been recorded in the Register as provided in this paragraph (e).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to any Person (each, a "**Participant**"), in all or a portion of such Lender's rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to it (including such Lender's participations in L/C Obligations)); *provided* that (i) such Lender's obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Agents and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this Agreement or the other Loan Documents; *provided* that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the second proviso to <u>Section 10.01</u> that requires the affirmative vote of such Lender, in each case, to the extent the Participant is directly and adversely affected thereby. Subject to <u>Section 10.07(g)</u>, the Borrower agrees that each Participant shall be entitled to the benefits of <u>Sections 3.01</u>, <u>3.04</u> and <u>3.05</u> (subject to the requirements and limitations of such Sections, including the requirements under <u>Section 3.01(d)</u> (it being understood that the documentation required under <u>Section 3.01(d)</u> shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to <u>Section 10.07(c)</u>. To the extent permitted by applicable Law, each Participant also shall be entitled to the benefits of <u>Section 10.09</u> as though it were a Lender; *provided* that such Participant agrees to be subject to <u>Section</u> 

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<u>2.11</u> as though it were a Lender and <u>Section 3.07</u> as though it were an Assignee. Each Participant will provide any applicable tax forms required pursuant to <u>Section 3.01(d)</u> solely to the participating Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and related interest amounts) of each Participant's interest in the Loans or other obligations under this Agreement (the "**Participant Register**"); *provided* that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a Participant's interest in any Commitments, Loans, L/C Obligations, Letters of Credit or its other obligations under any Loan Document) except to the extent that (x) such disclosure is necessary in connection with an audit or other proceeding to establish that such Commitment, Loan, L/C Obligation, Letter of Credit or other obligation is in registered form under Section 5f.103-1(c) of the Treasury Regulations and Section 1.163-5(b) of the proposed Treasury Regulations or (y) upon request of the Borrower, to confirm no Participant of Term Loans or Revolving Loans is a Disqualified Lender. The entries in the Participant Register shall be conclusive and such Lender shall treat each person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;A Participant shall not be entitled to receive any greater payment under <u>Section 3.01</u>, <u>3.04</u> or <u>3.05</u> than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower's prior written consent referencing this <u>Section 10.07(g)</u>, not to be unreasonably withheld or delayed (for the avoidance of doubt, the Borrower shall have reasonable basis for withholding consent if the participation would result in increased gross-up or indemnification obligations by the Borrower at such time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender may, without the consent of the Borrower or the Administrative Agent, at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any central bank having jurisdiction over such Lender; *provided* that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Any Term Lender may at any time, assign on a non-pro rata basis all or a portion of its rights and obligations with respect to Term Loans under this Agreement to a Person who is or will become, after such assignment, an Affiliated Lender through open market purchases on a *pro rata* or non-*pro rata* basis, subject to the following limitations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the assigning Lender and the Affiliated Lender purchasing such Lender's Loans shall execute and deliver to the Administrative Agent an assignment agreement substantially in the form of <u>Exhibit I-1</u> hereto (an "**Affiliated Lender Assignment and Assumption**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Lenders will not receive information provided solely to Lenders by the Administrative Agent or any Lender and will not be permitted to attend or participate in conference calls or meetings attended solely by the Lenders and the Administrative Agent, other than the right to receive notices of prepayments and other administrative notices in respect of its

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Loans or Commitments required to be delivered to Lenders pursuant to <u>Article II</u>, and shall not be permitted to challenge the Administrative Agent's or any Lender's attorney-client privilege;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate principal amount of Term Loans held at any one time by Affiliated Lenders shall not exceed twenty-five percent (25.0%) of the principal amount of all Term Loans at such time outstanding (measured at the time of purchase) (such percentage, the "**Affiliated Lender Cap**")*; provided* that to the extent any assignment to an Affiliated Lender would result in the aggregate principal amount of all Loans held by Affiliated Lenders exceeding the Affiliated Lender Cap, the assignment of such excess amount will be void *ab initio*; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;as a condition to each assignment pursuant to this clause (k), the Administrative Agent shall have been provided an Affiliated Lender Notice in the form of <u>Exhibit I-2</u> (an "**Affiliated Lender Notice**") to this Agreement in connection with each assignment to an Affiliated Lender or a Person that upon effectiveness of such assignment would constitute an Affiliated Lender pursuant to which such Affiliated Lender shall waive any right to bring any action in connection with such Term Loans against the Administrative Agent, in its capacity as such.

Each Affiliated Lender agrees to notify the Administrative Agent promptly (and in any event within ten (10) Business Days) if it acquires any Person who is also a Lender, and each Lender agrees to notify the Administrative Agent promptly (and in any event within ten (10) Business Days) if it becomes an Affiliated Lender. Such notice shall contain the type of information required and be delivered to the same addressee as set forth in <u>Exhibit I-2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Any Term Lender may, so long as no Default or Event of Default has occurred and is continuing, at any time, assign on a non-pro rata basis all or a portion of its rights and obligations with respect to Term Loans under this Agreement to the Parent or the Borrower through, notwithstanding <u>Sections 2.10</u> and <u>2.11</u> or any other provision in this Agreement, open market purchase on a pro rata or non-*pro rata* basis; *provided*, that, in connection with assignments pursuant to clauses (x) and (y) above, (i) if the Parent is the assignee, upon such assignment, transfer or contribution, such Parent shall automatically be deemed to have contributed the principal amount of such Term Loans, <u>plus</u> all accrued and unpaid interest thereon, to the Borrower; or (ii) if the assignee is the Borrower (including through contribution or transfers set forth in clause (i) above), (a) the principal amount of such Term Loans, along with all accrued and unpaid interest thereon, so contributed, assigned or transferred to the Borrower shall be deemed automatically cancelled and extinguished on the date of such contribution, assignment or transfer, (b) the aggregate outstanding principal amount of Term Loans of the remaining Lenders shall reflect such cancellation and extinguishing of the Term Loans then held by the Borrower and (c) the Borrower shall promptly provide notice to the Administrative Agent of such contribution, assignment or transfer of such Term Loans, and the Administrative Agent, upon receipt of such notice, shall reflect the cancellation of the applicable Term Loans in the Register.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in <u>Section 10.01</u> or the definition of "Required Lenders," "Required Term Lenders," "Required Class Lenders" or "Required Facility Lenders" to the contrary, for purposes of determining whether the Required Lenders, the Required Term Lenders, the Required Class Lenders (in respect of a Class of Term Loans) or the Required Facility Lenders have (i) consented (or not consented) to any amendment, modification, waiver, consent or other action with respect to any of the terms of any Loan Document or any departure by any Loan Party therefrom unless the action in question affects any Affiliated Lender in a disproportionately adverse manner than its effect on the other Lenders, or subject to <u>Section 10.07(n)</u>, any plan of reorganization pursuant to the Bankruptcy Code, (ii) otherwise

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acted on any matter related to any Loan Document or (iii) directed or required the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document, no Affiliated Lender shall have any right to consent (or not consent), otherwise act or direct or require the Administrative Agent or any Lender to take (or refrain from taking) any such action and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;all Term Loans held by any Affiliated Lenders shall be deemed to be not outstanding for all purposes of calculating whether the Required Lenders, the Required Term Lenders, the Required Class Lenders (in respect of a Class of Term Loans) or the Required Facility Lenders have taken any action unless the action in question affects such Affiliated Lender in a disproportionately adverse manner than its effect on other Lenders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;all Term Loans held by Affiliated Lenders shall be deemed to be not outstanding for all purposes of calculating whether all Lenders have taken any action unless the action in question affects such Affiliated Lender in a disproportionately adverse manner than its effect on other Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, each Affiliated Lender hereby agrees that and each Affiliated Lender Assignment and Assumption shall provide a confirmation that, if a proceeding under any Debtor Relief Law shall be commenced by or against the Borrower or other Loan Party at a time when such Lender is an Affiliated Lender, such Affiliated Lender irrevocably authorizes and empowers the Administrative Agent to vote on behalf of such Affiliated Lender with respect to the Term Loans held by such Affiliated Lender in any manner in the Administrative Agent's sole discretion, unless the Administrative Agent instructs such Affiliated Lender to vote, in which case such Affiliated Lender shall vote with respect to the Term Loans held by it as the Administrative Agent directs; *provided* that such Affiliated Lender shall be entitled to vote in accordance with its sole discretion (and not in accordance with the direction of the Administrative Agent) in connection with any plan of reorganization to the extent any such plan of reorganization proposes to treat any Obligations held by such Affiliated Lender in a disproportionately adverse manner to such Affiliated Lender than the proposed treatment of similar Obligations held by Lenders that are not Affiliated Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in <u>Section 10.01</u> or the definition of "Required Lenders" to the contrary, for purposes of determining whether the Required Lenders have (i) consented (or not consented) to any amendment, modification, waiver, consent or other action with respect to any of the terms of any Loan Document or any departure by any Loan Party therefrom, (ii) otherwise acted on any matter related to any Loan Document or (iii) directed or required the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document, all Term Loans held by Debt Fund Affiliates may not account for more than 49.9% (*pro rata* among such Debt Fund Affiliates) of the Term Loans of consenting Lenders included in determining whether the Required Lenders have consented to any action pursuant to <u>Section 10.01</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained herein, any Issuing Bank may, upon 30 days' notice to the Borrower and the Lenders, resign as an Issuing Bank. In the event of any such resignation of an Issuing Bank, the Borrower shall be entitled to appoint from among the Revolving Lenders willing to accept such appointment a successor Issuing Bank hereunder; provided that in no event shall any failure by the Borrower to appoint any such successor shall affect the resignation of the relevant Issuing Bank. On or prior to the expiration of the 30 day period with respect to such resignation

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described in the first sentence of this <u>clause (p)</u>, the relevant Issuing Bank shall have identified a successor Issuing Bank reasonably acceptable to the Borrower willing to accept its appointment as successor Issuing Bank; provided that notwithstanding the foregoing, in the event of any Incremental Revolving Facilit that (i) extends the time period during which an Issuing Bank is required to issue Letters of Credit or (ii) results in a new Person becoming a Revolving Lender hereunder and which Revolving Lender is not reasonably acceptable to the Issuing Bank (but only to the extent the Issuing Bank would have a consent right under Section 10.07(b)(i)(C) with respect to such Person becoming a Revolving Lender), any Issuing Bank may upon 30 days' notice to the Borrower and the Lenders resign as an Issuing Bank without having identified a successor Issuing Bank reasonably acceptable to the Borrower willing to accept its appointment as successor Issuing Bank. If an Issuing Bank resigns as an Issuing Bank, it shall retain all the rights and obligations of an Issuing Bank hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as an Issuing Bank and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.19).

Section 10.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>. Each of the Agents, the Lenders and the Issuing Banks severally (and not jointly) agrees to maintain the confidentiality of the Information and not to disclose such information, except that Information may be disclosed (a) to its Affiliates and its and its Affiliates' managers, administrators, directors, officers, employees, trustees, partners, investors, investment advisors and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential); (b) to the extent requested by any Governmental Authority or self-regulatory authority having or asserting jurisdiction over such Person (including any Governmental Authority or examiner (including the National Association of Insurance Commissioners or any other similar organization) regulating any Lender, Issuing Bank or its or their Affiliates); *provided* that the Administrative Agent or such Lender or Issuing Bank, as applicable, agrees that it will notify the Borrower as soon as practicable in the event of any such disclosure by such Person (other than at the request of a regulatory authority or examiner) unless such notification is prohibited by law, rule or regulation; (c) to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Facilities or market data collectors, similar services providers to the lending industry and service providers to the Administrative Agent in connection with the administration and management of this Agreement and the Loan Documents; (d) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process; *provided* that the Administrative Agent or such Lender or Issuing Bank, as applicable, agrees that it will notify the Borrower as soon as practicable in the event of any such disclosure by such Person (other than at the request of a regulatory authority or examiner) unless such notification is prohibited by law, rule or regulation; (e) to any other party to this Agreement; (f) subject to an agreement containing provisions at least as restrictive as those set forth in this <u>Section 10.08</u> (or as may otherwise be reasonably acceptable to the Borrower), to any pledgee referred to in <u>Section 10.07(h)</u>, counterparty to a Hedging Agreement, Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or Participant in, any of its rights or obligations under this Agreement (*provided* that the disclosure of any such Information to any Lenders, Issuing Bank or Eligible Assignees or Participants shall be made subject to the acknowledgement and acceptance by such Lender, Issuing Bank, Eligible Assignee or Participant that such Information is being disseminated on a confidential basis) (on substantially the terms set forth in this <u>Section 10.08</u> or as otherwise reasonably acceptable to the Borrower, including, without limitation, as agreed in any Borrower Materials) in accordance with the standard processes of the Administrative Agent or customary market standards for dissemination of such type of Information; (g) with the written consent of the Borrower; (h) to the extent such Information becomes publicly available other than as a result of a breach of this <u>Section 10.08</u> or becomes available to the Administrative Agent, any Lead Arranger, any

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Lender or Issuing Bank or any of their respective Affiliates on a non-confidential basis from a source other than a Loan Party or any Sponsor or their respective Affiliates (so long as such source is not known to the Administrative Agent, such Lead Arranger, such Lender or Issuing Bank or any of their respective Affiliates to be bound by confidentiality obligations to any Loan Party); (i) to any Governmental Authority or examiner (including the National Association of Insurance Commissioners or any other similar organization) regulating any Lender or Issuing Bank; (j) to any rating agency when required by it (it being understood that, prior to any such disclosure, such rating agency shall undertake to preserve the confidentiality of any Information relating to Loan Parties received by it from such Lender or Issuing Bank) or to the CUSIP Service Bureau or any similar organization; (k) in connection with establishing a "due diligence" defense, (l) to any credit insurance provider or (m) to the extent such Information is independently developed by the Administrative Agent, such Lead Arranger, such Lender or Issuing Bank or any of their respective Affiliates; *provided* that no disclosure shall be made to any Disqualified Lender. In addition, the Agents, the Lenders and the Issuing Banks may disclose the existence of this Agreement and publicly available information about this Agreement to market data collectors, similar service providers to the lending industry, and service providers to the Agents, the Lenders and the Issuing Banks in connection with the administration and management of this Agreement, the other Loan Documents, the Commitments, and the Borrowings. For the purposes of this <u>Section 10.08</u>, "**Information**" means all information received from the Loan Parties relating to any Loan Party, its Affiliates or its Affiliates' directors, managers, officers, employees, trustees, investment advisors or agents, relating to the Borrower or its business, other than any such information that is publicly available to any Agent or any Lender or Issuing Bank prior to disclosure by any Loan Party other than as a result of a breach of this <u>Section 10.08</u>; *provided* that all information received after the Closing Date from the Borrower shall be deemed confidential unless such information is clearly identified at the time of delivery as not being confidential. For the avoidance of doubt, nothing in this <u>Section 10.08</u> prohibits any individual from communicating or disclosing Information regarding suspected violations of Laws, rules or regulations to any Governmental Authority, regulatory authority or self-regulatory authority without any notification to any Person; *provided* that such communication or disclosure shall only include any Information to the extent required by such governmental, regulatory or self-regulatory authority or otherwise reasonably necessary for the individual to disclose the suspected violation.

Section 10.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Setoff</u>. In addition to any rights and remedies of the Lenders provided by Law, upon the occurrence and during the continuance of any Event of Default, each Lender and its Affiliates (and the Collateral Agent, in respect of any unpaid fees, costs and expenses payable hereunder) is authorized at any time and from time to time, without prior notice to the Borrower, any such notice being waived by the Borrower (on their own behalf and on behalf of the Parent) to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by, and other Indebtedness at any time owing by, such Lender and its Affiliates or the Collateral Agent to or for the credit or the account of the respective Borrower and the Parent against any and all Obligations owing to such Lender and its Affiliates or the Collateral Agent hereunder or under any other Loan Document, now or hereafter existing, irrespective of whether or not such Agent or such Lender or Affiliate shall have made demand under this Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or Indebtedness; *provided* that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of <u>Section 2.16</u> and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of

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setoff. Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any such set off and application made by such Lender; *provided* that the failure to give such notice shall not affect the validity of such setoff and application. The rights of the Administrative Agent, the Collateral Agent and each Lender under this <u>Section 10.09</u> are in addition to other rights and remedies (including other rights of setoff) that the Administrative Agent, the Collateral Agent and such Lender may have. No amounts set off from the Parent shall be applied to any Excluded Swap Obligations of the Parent. This <u>Section 10.9</u> shall be subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement).

Section 10.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Rate Limitation</u>. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the "**Maximum Rate**"). If any Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by an Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, 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.

Section 10.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Agreement and each other Loan Document may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier or other electronic transmission of an executed counterpart of a signature page to this Agreement and each other Loan Document shall be effective as delivery of an original executed counterpart of this Agreement and such other Loan Document. The Agents may also require that any such documents and signatures delivered by telecopier or other electronic transmission be confirmed by an original thereof; *provided* that the failure to request or deliver the same shall not limit the effectiveness of any document or signature delivered by telecopier or other electronic transmission.

Section 10.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Integration; Termination</u>. This Agreement, together with the other Loan Documents, comprises the complete and integrated agreement of the parties on the subject matter hereof and thereof and supersedes all prior agreements, written or oral, on such subject matter. In the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the provisions of this Agreement shall control; *provided* that the inclusion of supplemental rights or remedies in favor of the Agents or the Lenders in any other Loan Document shall not be deemed a conflict with this Agreement. Each Loan Document was drafted with the joint participation of the respective parties thereto and shall be construed neither against nor in favor of any party, but rather in accordance with the fair meaning thereof.

Section 10.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival of Representations and Warranties</u>. All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by each Agent and each Lender, regardless of any investigation made by any Agent or any Lender or on their behalf and notwithstanding that any Agent or any Lender may have had notice or knowledge of any Default at the time of any Borrowing, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied.

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Section 10.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this <u>Section 10.14</u>, if and to the extent that the enforceability of any provision in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent then such provisions shall be deemed to be in effect only to the extent not so limited.

Section 10.15&nbsp;&nbsp;&nbsp;&nbsp;<u>GOVERNING LAW</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;ANY LEGAL ACTION OR PROCEEDING ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE SITTING IN THE BOROUGH OF MANHATTAN, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH LOAN PARTY, EACH AGENT AND EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THOSE COURTS AND AGREES THAT IT WILL NOT COMMENCE OR SUPPORT ANY SUCH ACTION OR PROCEEDING IN ANOTHER JURISDICTION. EACH LOAN PARTY, EACH AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS IN THE MANNER PROVIDED FOR NOTICES (OTHER THAN TELECOPIER OR OTHER ELECTRONIC TRANSMISSION) IN <u>SECTION 10.02</u>. NOTHING IN THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION TO ENFORCE ANY AWARD OR JUDGMENT OR EXERCISE ANY RIGHT UNDER THE COLLATERAL DOCUMENTS AGAINST ANY COLLATERAL OR ANY OTHER PROPERTY OF ANY LOAN PARTY IN ANY OTHER FORUM IN ANY JURISDICTION IN WHICH COLLATERAL IS LOCATED.

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Section 10.16&nbsp;&nbsp;&nbsp;&nbsp;<u>WAIVER OF RIGHT TO TRIAL BY JURY</u>. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS <u>SECTION 10.16</u> WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

Section 10.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Effect</u>. This Agreement shall become effective when it shall have been executed by the Loan Parties, the Administrative Agent and the Collateral Agent, and the Administrative Agent shall have been notified by each Lender that each Lender has executed it and thereafter this Agreement shall be binding upon and inure to the benefit of the Loan Parties, each Agent and each Lender and their respective successors and assigns, in each case in accordance with <u>Section 10.07</u> (if applicable) and except that no Loan Party shall have the right to assign its rights hereunder or any interest herein without the prior written consent of the Lenders except as permitted by <u>Section 7.04</u>.

Section 10.18&nbsp;&nbsp;&nbsp;&nbsp;<u>USA PATRIOT Act</u>. Each Lender that is subject to the USA PATRIOT Act and/or the Beneficial Ownership Regulation and the Administrative Agent and the Collateral Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act and/or the Beneficial Ownership Regulation, it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name, address and tax identification number of such Loan Party and other information regarding such Loan Party that will allow such Lender, the Administrative Agent or the Collateral Agent, as applicable, to identify such Loan Party in accordance with the USA PATRIOT Act and/or the Beneficial Ownership Regulation. This notice is given in accordance with the requirements of the USA PATRIOT Act and/or the Beneficial Ownership Regulation and is effective as to the Lenders, the Administrative Agent and the Collateral Agent.

Section 10.19&nbsp;&nbsp;&nbsp;&nbsp;<u>No Advisory or Fiduciary Responsibility</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In connection with all aspects of each transaction contemplated hereby, each Loan Party acknowledges and agrees, and acknowledges its Affiliates' understanding, that (i) the facilities provided for hereunder and any related arranging or other services in connection therewith (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document) are an arm's-length commercial transaction between the Loan Parties and their respective Affiliates, on the one hand, and the Agents, the Lead Arrangers and the Lenders, on the other hand, and each Loan Party is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification hereof or thereof), (ii) in connection with the process leading to such transaction, each of the Agents, the Lead Arrangers (and their respective Affiliates) and the Lenders is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary, for any Loan Party or any of its Affiliates, stockholders, creditors or employees or any other Person, (iii) none of the Agents, the Lead Arrangers (or their respective Affiliates) or the Lenders has assumed or will assume an advisory, agency or fiduciary responsibility in favor of any Loan Party with respect to any of the transactions contemplated

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hereby or the process leading thereto, including with respect to any amendment, waiver or other modification hereof or of any other Loan Document (irrespective of whether any Agent or Lender has advised or is currently advising any Loan Party or any of its Affiliates on other matters) and none of the Agents, the Lead Arrangers (or their respective Affiliates) or the Lenders has any obligation to any Loan Party or any of its Affiliates with respect to the financing transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents, (iv) the Agents, the Lead Arrangers (and their respective Affiliates) and the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from, and may conflict with, those of any Loan Party and its respective Affiliates, and none of the Agents, the Lead Arrangers or the Lenders has any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary relationship and (v) the Agents, the Lead Arrangers (and their respective Affiliates) and the Lenders have not provided and will not provide any legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated hereby (including any amendment, waiver or other modification hereof or of any other Loan Document) and the Loan Parties have consulted their own legal, accounting, regulatory and tax advisors to the extent they have deemed appropriate. Each Loan Party hereby waives and releases, to the fullest extent permitted by law, any claims that it may have against the Agents, the Lead Arrangers (and their respective Affiliates) and the Lenders with respect to any breach or alleged breach of agency or fiduciary duty under applicable law relating to agency and fiduciary obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Loan Party acknowledges and agrees that each Lender, each Lead Arranger and any Affiliate thereof may lend money to, invest in, and generally engage in any kind of business with, any Loan Party, any Sponsor, any Affiliate thereof or any other person or entity that may do business with or own securities of any of the foregoing, all as if such Lender, such Lead Arranger or Affiliate thereof were not a Lender, a Lead Arranger or an Affiliate thereof (or an agent or any other person with any similar role under the Facilities) and without any duty to account therefor to any other Lender, any other Lead Arranger, any Loan Party, any Sponsor or any Affiliate of the foregoing. Each Lender, each Lead Arranger and any Affiliate thereof may accept fees and other consideration from any Loan Party, any Sponsor or any Affiliate thereof for services in connection with this Agreement, the Facilities or otherwise without having to account for the same to any other Lender, any other Lead Arranger, any Loan Party, any Sponsor or any Affiliate of the foregoing. Some or all of the Lenders and the Lead Arrangers may have directly or indirectly acquired certain equity interests (including warrants) in a Loan Party, a Sponsor or an Affiliate thereof or may have directly or indirectly extended credit on a subordinated basis to a Loan Party, a Sponsor or an Affiliate thereof. Each party hereto, on its behalf and on behalf of its Affiliates, acknowledges and waives the potential conflict of interest resulting from any such Lender, any such Lead Arranger or an Affiliate thereof holding disproportionate interests in the extensions of credit under the Facilities or otherwise acting as arranger or agent thereunder and such Lender, such Lead Arranger or any Affiliate thereof directly or indirectly holding equity interests in or subordinated debt issued by a Loan Party, a Sponsor or an Affiliate thereof.

Section 10.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Execution of Assignments</u>. The words "execution," "signed," "signature," and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based record keeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

Section 10.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Appointment of Independent Consultants</u>. In connection with the transactions contemplated by the Loan Documents, each Lender hereby appoints the following independent

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consultants (collectively, including any replacement consultant appointed by the Borrower in consultation with the Administrative Agent, the "**Independent Consultants**"): (a) the Independent Engineer, (b) the Insurance Consultant, (c) the Market Consultant and (d) the Commercial Consultant, and authorizes each such Person to exercise such rights, powers, authorities and discretions as are specifically delegated to it (and reasonably incidental thereto) pursuant to its engagement letter and the Loan Documents.

Section 10.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Judgment Currency</u>. If for the purposes of obtaining judgment in any court it is necessary to convert a sum due from the Borrower hereunder in the currency expressed to be payable herein (the "**specified currency**") into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures any Lender could purchase the specified currency with such other currency at such Lender's New York office on the Business Day preceding that on which final judgment is given. The obligations of the Borrower in respect of any sum due to any Lender hereunder shall, notwithstanding any judgment in a currency other than the specified currency, be discharged only to the extent that on the Business Day following receipt by such Lender of any sum adjudged to be so due in such other currency such Lender may in accordance with normal banking procedures purchase the specified currency with such other currency; if the amount of the specified currency so purchased is less than the sum originally due to such Lender in the specified currency, each Borrower agrees, to the fullest extent that it may effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify the Lender against such loss, and if the amount of the specified currency so purchased exceeds the sum originally due to such Lender in the specified currency, such Lender agrees to remit such excess to the Borrower.

Section 10.23&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement and Consent to Bail-In of Affected Financial Institutions</u>. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority.

Section 10.24&nbsp;&nbsp;&nbsp;&nbsp;<u>First Lien Intercreditor Agreement</u>. Notwithstanding anything to the contrary in this Agreement or in any other Loan Document: (a) the Liens granted to the Collateral Agent in favor of the Secured Parties pursuant to the Loan Documents and the exercise of any right related to any Collateral

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shall be subject, in each case, to the terms of the First Lien Intercreditor Agreement, (b) in the event of any conflict between the express terms and provisions of this Agreement or any other Loan Document, on the one hand, and of the First Lien Intercreditor Agreement, on the other hand, the terms and provisions of the First Lien Intercreditor Agreement shall control, and (c) each Lender authorizes the Administrative Agent and/or the Collateral Agent to execute the First Lien Intercreditor Agreement (and/or amend or make other modifications to the First Lien Intercreditor Agreement as reasonably required or desirable in connection with the transactions expressly permitted by this Agreement) on behalf of such Lender, and such Lender agrees to be bound by the terms thereof.

Section 10.25&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement Regarding Any Supported QFCs</u>. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Hedge Agreements or any other agreement or instrument that is a QFC (such support, "**QFC Credit Support**" and each such QFC a "**Supported QFC**"), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the "**U.S. Special Resolution Regimes**") in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York or of the United States or any other state of the United States):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In the event a Covered Entity that is party to a Supported QFC (each, a "**Covered Party**") becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;As used in this Section 9.18, the following terms have the following meanings:

"**BHC Act Affiliate**" of a party means an "affiliate" (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.

"**Covered Entity**" means any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a "covered entity" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a "covered bank" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a "covered FSI" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

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"**Default Right**" has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

"**QFC**" has the meaning assigned to the term "qualified financial contract" in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).

[*Signature Pages Follow*]

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| | |
|:---|:---|
| **MUFG Bank, Ltd.,**<br>as Administrative Agent | **MUFG Bank, Ltd.,**<br>as Administrative Agent |
| By: | /s/Lawrence Blat |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Lawrence Blat |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory |

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| | |
|:---|:---|
| **Sumitomo Mitsui Banking Corporation**, <br>as Collateral Agent | **Sumitomo Mitsui Banking Corporation**, <br>as Collateral Agent |
| By: | /s/ Paul Jun |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Paul Jun |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Managing Director |

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------

---

| | |
|:---|:---|
| **BLACKFIN PIPELINE, LLC** | **BLACKFIN PIPELINE, LLC** |
| By: | /s/ Scott Simmons |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Scott Simmons |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President &<br>Chief Financial Officer |
| By: | /s/ Leah Woodward |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Leah Woodward |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Treasurer |

---

------

---

| | |
|:---|:---|
| **BLACKFIN PIPELINE PLEDGOR, LLC** | **BLACKFIN PIPELINE PLEDGOR, LLC** |
| By: | /s/ Scott Simmons |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Scott Simmons |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President &<br>Chief Financial Officer |
| By: | /s/ Leah Woodward |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Leah Woodward |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Treasurer |

---

------

---

| | |
|:---|:---|
| **BLACKFIN SUPPLY, LLC** | **BLACKFIN SUPPLY, LLC** |
| By: | /s/ Scott Simmons |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Scott Simmons |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President &<br>Chief Financial Officer |
| By: | /s/ Leah Woodward |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Leah Woodward |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Treasurer |

---

------

---

| | |
|:---|:---|
| **MUFG Bank, Ltd.,**<br>as a Revolving Lender and as a Term Lender | **MUFG Bank, Ltd.,**<br>as a Revolving Lender and as a Term Lender |
| By: | /s/ Chip Lewis |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chip Lewis |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Managing Director |

---

------

---

| | |
|:---|:---|
| **MUFG Bank, Ltd.,**<br>as an Issuing Bank | **MUFG Bank, Ltd.,**<br>as an Issuing Bank |
| By: | /s/ Chip Lewis |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chip Lewis |
|  | Managing Director |

---

------

---

| | |
|:---|:---|
| **Mizuho Bank, Ltd.,**<br>as a Revolving Lender and as a Term Lender | **Mizuho Bank, Ltd.,**<br>as a Revolving Lender and as a Term Lender |
| By: | /s/ Dominick D'Ascoli |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Dominick D'Ascoli |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Director |

---

------

---

| | |
|:---|:---|
| **Mizuho Bank, Ltd.,**<br>as an Issuing Bank | **Mizuho Bank, Ltd.,**<br>as an Issuing Bank |
| By: | /s/ Dominick D'Ascoli |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Dominick D'Ascoli |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Director |

---

------

---

| | |
|:---|:---|
| **JPMorgan Chase Bank N.A.,**<br> as a Revolving Lender and as a Term Lender | **JPMorgan Chase Bank N.A.,**<br> as a Revolving Lender and as a Term Lender |
| By: | /s/ Omar Valdez |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Omar Valdez |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Executive Director |

---

------

---

| | |
|:---|:---|
| **JPMorgan Chase Bank N.A.,**<br> as an Issuing Back | **JPMorgan Chase Bank N.A.,**<br> as an Issuing Back |
| By: | /s/ Omar Valdez |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Omar Valdez |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Executive Director |

---

------

---

| | |
|:---|:---|
| **Sumitomo Mitsui Banking Corporation,**<br>as a Revolving Lender and as a Term Lender | **Sumitomo Mitsui Banking Corporation,**<br>as a Revolving Lender and as a Term Lender |
| By: | /s/ Paul Jun |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Paul Jun |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Managing Director |

---

------

---

| | |
|:---|:---|
| **Sumitomo Mitsui Banking Corporation,**<br>as an Issuing Bank | **Sumitomo Mitsui Banking Corporation,**<br>as an Issuing Bank |
| By: | /s/ Paul Jun |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Paul Jun |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Managing Director |

---

------

**Schedule 1.01A**

**Part A: Term/Revolving Commitments**

[Omitted]

------

**<u>Schedule 1.01B</u>**

**Collateral Documents**

[Omitted]

------

**<u>Schedule 2.05(a)</u>**

**Amortization Schedule** 

[Omitted]

------

**<u>Schedule 4.01(p)</u>**

**Permits**

[Omitted]

------

**<u>Schedule 5.05</u>**

**Certain Liabilities**

[Omitted]

------

**<u>Schedule 6.11(b)</u>**

**Closing Date Material Real Property** 

[Omitted]

------

**<u>Schedule 6.16</u>**

**Post-Closing Deliveries**

[Omitted]

------

**<u>Schedule 6.22</u>**

**Insurance Policies**

[Omitted]

------

**<u>Schedule 7.01(b)</u>**

**Existing Liens**

[Omitted]

------

**<u>Schedule 7.03(b)</u>**

**Existing Indebtedness**

[Omitted]

------

**<u>Schedule 7.07</u>**

**Transactions with Affiliates**

[Omitted]

------

**<u>Schedule 7.08</u>**

**Certain Contractual Obligations**

[Omitted]

------

**<u>Schedule 10.02(a)</u>**

**Administrative Agent's Office, Certain Addresses for Notices**

[Omitted]

------

**EXHIBIT A**

[FORM OF]<br>COMMITTED LOAN NOTICE

[Omitted]

\|US-DOCS\164254165.6\|\|

------

**EXHIBIT B-1**

[FORM OF]<br>TERM NOTE

[Omitted]

------

**EXHIBIT B-2**

[FORM OF]<br>REVOLVING NOTE

[Omitted]

------

**EXHIBIT C-1**

[FORM OF]<br>COMPLIANCE CERTIFICATE

[Omitted]

------

**EXHIBIT C-2**

[FORM OF]<br>SOLVENCY CERTIFICATE<br>of<br>BLACKFIN PIPELINE, LLC

BLACKFIN PIPELINE PLEDGOR, LLC

BLACKFIN SUPPLY, LLC

[Omitted]

------

**EXHIBIT D**

[FORM OF]<br>ASSIGNMENT AND ASSUMPTION

[Omitted]

------

**EXHIBIT E-1**

[FORM OF]<br>SECURITY AND DEPOSITARY AGREEMENT

[Omitted]

------

**EXHIBIT E-2**

[FORM OF]<br>PLEDGE AGREEMENT

[Omitted]

------

**EXHIBIT F**

[FORM OF]<br>CAPACITY LEASE CONSENT AGREEMENT

[Omitted]

------

**EXHIBIT G**

[FORM OF]<br>FIRST LIEN INTERCREDITOR AGREEMENT

[Omitted]

------

**EXHIBIT H-1**

U.S. TAX COMPLIANCE CERTIFICATE<br>(FOR FOREIGN LENDERS THAT ARE NOT PARTNERSHIPS FOR<br>U.S. FEDERAL INCOME TAX PURPOSES)

[Omitted]

<br> <br>

------

**EXHIBIT H-2**

U.S. TAX COMPLIANCE CERTIFICATE<br>(FOR FOREIGN PARTICIPANTS THAT ARE NOT PARTNERSHIPS<br>FOR U.S. FEDERAL INCOME TAX PURPOSES)

[Omitted]

<br> <br>

------

**EXHIBIT H-3**

U.S. TAX COMPLIANCE CERTIFICATE<br>(FOR FOREIGN PARTICIPANTS THAT ARE PARTNERSHIPS<br>FOR U.S. FEDERAL INCOME TAX PURPOSES)

[Omitted]

<br> <br>

------

**EXHIBIT H-4**

U.S. TAX COMPLIANCE CERTIFICATE<br>(FOR FOREIGN LENDERS THAT ARE PARTNERSHIPS FOR<br>U.S. FEDERAL INCOME TAX PURPOSES)

[Omitted]

------

**EXHIBIT I-1**

FORM OF AFFILIATED LENDER ASSIGNMENT AND ASSUMPTION

[Omitted]

------

**EXHIBIT I-2**

FORM OF AFFILIATED LENDER NOTICE

[Omitted]

------

**EXHIBIT J-1**

[FORM OF]

INDEPENDENT ENGINEER CERTIFICATE

[Omitted]

------

**EXHIBIT J-2**

[FORM OF]

INDEPENDENT ENGINEER CERTIFICATE

[Omitted]

------

**EXHIBIT K**

FORM OF<br>O&M CONSENT AGREEMENT

[Omitted]

## Exhibit 10.8

**Exhibit 10.8**

***Execution Version***

**CREDIT AGREEMENT**

Dated as of

September 29, 2025

among

BLACKFIN PIPELINE, LLC<br>as the Borrower,

BLACKFIN PIPELINE PLEDGOR, LLC<br>as the Parent,

BLACKFIN SUPPLY, LLC,<br>as the Permitted Subsidiary,

MUFG BANK, LTD.,<br>as Administrative Agent,

SUMITOMO MITSUI BANKING CORPORATION,

as Collateral Agent,

and

THE LENDERS PARTY HERETO FROM TIME TO TIME

___________________________________

MUFG BANK, LTD.,

JPMORGAN CHASE BANK, N.A.,

MIZUHO BANK, LTD.,

and

SUMITOMO MITSUI BANKING CORPORATION,

as Lead Arrangers and Joint Bookrunners

------

**<u>**TABLE OF CONTENTS**</u>**

**Page**

---

| | |
|:---|:---|
| **[ARTICLE I <br>DEFINITIONS AND ACCOUNTING TERMS](#i80e1f8b4b1e142e7877be17f1dbf137f)** | **[1](#i80e1f8b4b1e142e7877be17f1dbf137f)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms](#i4cfebde9f8384ae094f97e434966021f) | [1](#i4cfebde9f8384ae094f97e434966021f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.02&nbsp;&nbsp;&nbsp;&nbsp;Other Interpretive Provisions](#i20457abf4d8d4ae8980fb1e6f9a8cec2) | [61](#i20457abf4d8d4ae8980fb1e6f9a8cec2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.03&nbsp;&nbsp;&nbsp;&nbsp;Accounting Terms](#if4f817967b994e3c846fc75076b597bc) | [61](#if4f817967b994e3c846fc75076b597bc) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.04&nbsp;&nbsp;&nbsp;&nbsp;Rounding](#i639e1634a0d342649372cabd26847a4d) | [62](#i639e1634a0d342649372cabd26847a4d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.05&nbsp;&nbsp;&nbsp;&nbsp;References to Agreements, Laws, Etc.](#if3c51045367a4ac0854ec3c9c473ed42) | [62](#if3c51045367a4ac0854ec3c9c473ed42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.06&nbsp;&nbsp;&nbsp;&nbsp; Times of Day](#i6b52c31b1d6a4c9cbe0720d7ea357ae2) | [62](#i6b52c31b1d6a4c9cbe0720d7ea357ae2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.07&nbsp;&nbsp;&nbsp;&nbsp;Timing of Payment or Performance](#i37066fee96104e46a4eb48f43e2fc6f4) | [62](#i37066fee96104e46a4eb48f43e2fc6f4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.08&nbsp;&nbsp;&nbsp;&nbsp;Negative Covenant Compliance](#i58608d57ace34825b0af8ba667f5f0c0) | [62](#i58608d57ace34825b0af8ba667f5f0c0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.09&nbsp;&nbsp;&nbsp;&nbsp;Rates](#i0ac700c46e544c2e94a7a6b5fd0891eb) | [63](#i0ac700c46e544c2e94a7a6b5fd0891eb) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 1.10&nbsp;&nbsp;&nbsp;&nbsp;Divisions](#i2aedc121cf284b00b4daa4bae1051798) | [63](#i2aedc121cf284b00b4daa4bae1051798) |
| **[ARTICLE II <br>THE COMMITMENTS AND BORROWINGS](#i8c2faa81bbab4feca31371f40287f169)** | **[64](#i8c2faa81bbab4feca31371f40287f169)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;The Initial Term Borrowings](#i0bdcc24050b2401d913e24282baa67b8) | [64](#i0bdcc24050b2401d913e24282baa67b8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;Borrowings, Conversions and Continuations of Loans](#ic97944b2686c49e4a86f1bb189673eaf) | [64](#ic97944b2686c49e4a86f1bb189673eaf) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;Prepayments](#iaf86529cff2041f2b7237151c6501f7f) | [65](#iaf86529cff2041f2b7237151c6501f7f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;Termination or Reduction of Commitments](#i8df5e16d940f44c39544682fb36ae360) | [78](#i8df5e16d940f44c39544682fb36ae360) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.05&nbsp;&nbsp;&nbsp;&nbsp;Repayment of Loans](#i815764862294439d99c45290607bb406) | [78](#i815764862294439d99c45290607bb406) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.06&nbsp;&nbsp;&nbsp;&nbsp;Interest](#i05d94ae1108d438ea6b3819e85195786) | [79](#i05d94ae1108d438ea6b3819e85195786) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.07&nbsp;&nbsp;&nbsp;&nbsp;Fees](#i5c26f38f42c94e1e9cec789bf39068fa) | [79](#i5c26f38f42c94e1e9cec789bf39068fa) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.08&nbsp;&nbsp;&nbsp;&nbsp;Computation of Interest and Fees](#ie7e2e0e796e944b49b2d29566e08d939) | [79](#ie7e2e0e796e944b49b2d29566e08d939) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.09&nbsp;&nbsp;&nbsp;&nbsp;Evidence of Indebtedness](#iaa027a602c514e1bb976a9837555de8f) | [79](#iaa027a602c514e1bb976a9837555de8f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.10&nbsp;&nbsp;&nbsp;&nbsp;Payments Generally](#ia5453b1c03cb4a27bf0c17332d5c729e) | [80](#ia5453b1c03cb4a27bf0c17332d5c729e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.11&nbsp;&nbsp;&nbsp;&nbsp;Sharing of Payments](#iecd18f19764c4174a81245c2de7c2626) | [82](#iecd18f19764c4174a81245c2de7c2626) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.12&nbsp;&nbsp;&nbsp;&nbsp;Incremental Borrowings](#ic955879ed8694c8facea0bef2bbbd977) | [82](#ic955879ed8694c8facea0bef2bbbd977) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.13&nbsp;&nbsp;&nbsp;&nbsp;Refinancing Amendments](#i03593d90ebb54e018acc0ad7453ba636) | [87](#i03593d90ebb54e018acc0ad7453ba636) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.14&nbsp;&nbsp;&nbsp;&nbsp;Extension of Term Loans](#i522cce8cbe714b79bbddd323db7f43ad) | [88](#i522cce8cbe714b79bbddd323db7f43ad) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.15&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\]](#ie8c74f064d874c68b7454307fca0a090) | [90](#ie8c74f064d874c68b7454307fca0a090) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.16&nbsp;&nbsp;&nbsp;&nbsp;Defaulting Lenders](#ib2a7bccf7f5240f59aafc772f3c9c8ff) | [90](#ib2a7bccf7f5240f59aafc772f3c9c8ff) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.17&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\]](#i0d52526882f640589ce7fdaa74ad176c) | [91](#i0d52526882f640589ce7fdaa74ad176c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 2.18&nbsp;&nbsp;&nbsp;&nbsp;Permitted Debt Exchanges](#i0fb6cb26d7bd44f58a20f2b596a562a2) | [91](#i0fb6cb26d7bd44f58a20f2b596a562a2) |
| **[ARTICLE III <br>TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY](#iafd08ac301bd4d328f0cf118311d71db)** | **[92](#iafd08ac301bd4d328f0cf118311d71db)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;Taxes](#i4f7980c9f163418fac19a096b45af057) | [92](#i4f7980c9f163418fac19a096b45af057) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;Illegality](#i3ee1b340c9d848f58e6a0132a6c774eb) | [96](#i3ee1b340c9d848f58e6a0132a6c774eb) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.03&nbsp;&nbsp;&nbsp;&nbsp;Benchmark Replacement Setting.](#if9df648cb9d1429f972d0d621751dbbb) | [96](#if9df648cb9d1429f972d0d621751dbbb) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.04&nbsp;&nbsp;&nbsp;&nbsp;Increased Cost and Reduced Return; Capital Adequacy; Reserves on Term SOFR Loans](#i3d0a34ac3ea4443bb41528143ab4bf6d) | [98](#i3d0a34ac3ea4443bb41528143ab4bf6d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.05&nbsp;&nbsp;&nbsp;&nbsp;Funding Losses](#ib330fc5a970c4c38bd5e2ff044c7ad26) | [99](#ib330fc5a970c4c38bd5e2ff044c7ad26) |

---

i

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.06&nbsp;&nbsp;&nbsp;&nbsp;Matters Applicable to All Requests for Compensation](#i71bfef277d834fc786453ec0123a7300) | [100](#i71bfef277d834fc786453ec0123a7300) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.07&nbsp;&nbsp;&nbsp;&nbsp;Replacement of Lenders under Certain Circumstances](#i348ac517590e44929dd2679613951f0f) | [101](#i348ac517590e44929dd2679613951f0f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 3.08&nbsp;&nbsp;&nbsp;&nbsp;Survival](#i3b04fd9c67de475dbec5c80fb8fa0f94) | [102](#i3b04fd9c67de475dbec5c80fb8fa0f94) |
| **[ARTICLE IV <br>CONDITIONS PRECEDENT TO BORROWINGS](#i158fe0950d0c49628c4689dc4034ea44)** | **[102](#i158fe0950d0c49628c4689dc4034ea44)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Initial Borrowing](#i3a9ec677874d4b56bd5b53e75e113a67) | [102](#i3a9ec677874d4b56bd5b53e75e113a67) |
| **[ARTICLE V <br>REPRESENTATIONS AND WARRANTIES](#i11ac136a44124d5980359193adb3f7b1)** | **[106](#i11ac136a44124d5980359193adb3f7b1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;Existence, Qualification and Power; Compliance with Laws](#i62bfa4876bea4f5faec13d9ff453c89d) | [106](#i62bfa4876bea4f5faec13d9ff453c89d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;Authorization; No Contravention](#i087cda21580e481ead1a8af9700c9c6e) | [106](#i087cda21580e481ead1a8af9700c9c6e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;Governmental Authorization](#ibdfff8a3f84c4a79b8999ea31382c2dc) | [107](#ibdfff8a3f84c4a79b8999ea31382c2dc) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;Binding Effect](#i0dfb562d552641519aecf7bd831eb6cd) | [107](#i0dfb562d552641519aecf7bd831eb6cd) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.05&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements; No Material Adverse Effect](#i5385a86cfa0645b0aa754f101f5f1b2a) | [107](#i5385a86cfa0645b0aa754f101f5f1b2a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.06&nbsp;&nbsp;&nbsp;&nbsp;Litigation](#i02b2c4564e434db58827d8c9447d7a5b) | [108](#i02b2c4564e434db58827d8c9447d7a5b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.07&nbsp;&nbsp;&nbsp;&nbsp;Environmental Matters](#i57fbc209f7ae4b2ca18c2463a64eb7c1) | [108](#i57fbc209f7ae4b2ca18c2463a64eb7c1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.08&nbsp;&nbsp;&nbsp;&nbsp;Taxes](#if7a0903697bd48b589b74a9c6262c3ed) | [108](#if7a0903697bd48b589b74a9c6262c3ed) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.09&nbsp;&nbsp;&nbsp;&nbsp;ERISA Compliance](#i4e4abd653fd84c919e3d02e7032020c9) | [108](#i4e4abd653fd84c919e3d02e7032020c9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.10&nbsp;&nbsp;&nbsp;&nbsp;Subsidiaries](#i0af439144ab1401aa9c286979b6444c2) | [109](#i0af439144ab1401aa9c286979b6444c2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.11&nbsp;&nbsp;&nbsp;&nbsp;Margin Regulations; Investment Company Act](#i1ea91dd1177d4d3faf3e4e3868c91186) | [109](#i1ea91dd1177d4d3faf3e4e3868c91186) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.12&nbsp;&nbsp;&nbsp;&nbsp;Disclosure](#if4770e81456a4ccbb3cf4fd814dd8feb) | [109](#if4770e81456a4ccbb3cf4fd814dd8feb) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.13&nbsp;&nbsp;&nbsp;&nbsp;Solvency](#ib55ed7222b3b4f93a7bf69af5d39e40e) | [110](#ib55ed7222b3b4f93a7bf69af5d39e40e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.14&nbsp;&nbsp;&nbsp;&nbsp;Sanctions; Anti-Corruption Laws; and Anti-Money Laundering Laws](#ieecaea9ac9db403292b1d1d4779232eb) | [110](#ieecaea9ac9db403292b1d1d4779232eb) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.15&nbsp;&nbsp;&nbsp;&nbsp;Security Documents](#i856c301f627447d99aa1405c27a224d0) | [110](#i856c301f627447d99aa1405c27a224d0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.16&nbsp;&nbsp;&nbsp;&nbsp;No Default](#i68a0a9cf299445a88ce8a76bdb7cd6ff) | [110](#i68a0a9cf299445a88ce8a76bdb7cd6ff) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.17&nbsp;&nbsp;&nbsp;&nbsp;Title to Properties](#ie59c8b11c80b4f1db3516edbf4b04918) | [111](#ie59c8b11c80b4f1db3516edbf4b04918) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.18&nbsp;&nbsp;&nbsp;&nbsp;Material Project Documents](#i2c46b909af0a4d048ba4b0779d80ec09) | [111](#i2c46b909af0a4d048ba4b0779d80ec09) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.19&nbsp;&nbsp;&nbsp;&nbsp;Pari Passu](#ib8ee570f43714e36a3d17cb656dfa9bf) | [111](#ib8ee570f43714e36a3d17cb656dfa9bf) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.20&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds](#i1a7e44d8136148688431f528f2b1d6ee) | [111](#i1a7e44d8136148688431f528f2b1d6ee) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.21&nbsp;&nbsp;&nbsp;&nbsp;Licenses, Permits, Etc.](#i3b5ae1cf4e644734a47bd3c970519279) | [111](#i3b5ae1cf4e644734a47bd3c970519279) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 5.22&nbsp;&nbsp;&nbsp;&nbsp;Real Property](#ie4d6d527185e472a80d5663f99652386) | [112](#ie4d6d527185e472a80d5663f99652386) |
| **[ARTICLE VI <br>AFFIRMATIVE COVENANTS](#i2e9b3d432d8148babceed28588aac650)** | **[112](#i2e9b3d432d8148babceed28588aac650)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements](#ie169cc9d5c654b939b106571fbdea87f) | [112](#ie169cc9d5c654b939b106571fbdea87f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.02&nbsp;&nbsp;&nbsp;&nbsp;Certificates; Other Information](#i9161586a707f4ca8ab9b5bb3f56bfa89) | [114](#i9161586a707f4ca8ab9b5bb3f56bfa89) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.03&nbsp;&nbsp;&nbsp;&nbsp;Notices](#i6a215c23ed3047969392eca6b88f365f) | [115](#i6a215c23ed3047969392eca6b88f365f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.04&nbsp;&nbsp;&nbsp;&nbsp;Payment of Tax Obligations](#i9b28a9a0de1c4557b7d28042ff07a4d8) | [116](#i9b28a9a0de1c4557b7d28042ff07a4d8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.05&nbsp;&nbsp;&nbsp;&nbsp;Preservation of Existence, Etc.](#i8fe65f8c95e84156b7ca3fe3fbc1df68) | [116](#i8fe65f8c95e84156b7ca3fe3fbc1df68) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.06&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Properties](#i404fe638de2748ef909c08f089f64aad) | [116](#i404fe638de2748ef909c08f089f64aad) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.07&nbsp;&nbsp;&nbsp;&nbsp;Bank Accounts](#i3be120667dde4c9ba77d51900eada6f2) | [116](#i3be120667dde4c9ba77d51900eada6f2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.08&nbsp;&nbsp;&nbsp;&nbsp;Books and Records](#i1ead47cefc984ce99069b66c2e63f892) | [117](#i1ead47cefc984ce99069b66c2e63f892) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.09&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws](#ibf1fdce497234e1da592db8396642b0a) | [117](#ibf1fdce497234e1da592db8396642b0a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.10&nbsp;&nbsp;&nbsp;&nbsp;Inspection Rights](#i77c5b3e6ff6c4dc9aaf34101d8f8199c) | [117](#i77c5b3e6ff6c4dc9aaf34101d8f8199c) |

---

ii

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.11&nbsp;&nbsp;&nbsp;&nbsp;Additional Collateral](#ic8b4e9f43d81484680f4e542658f2fdd) | [117](#ic8b4e9f43d81484680f4e542658f2fdd) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.12&nbsp;&nbsp;&nbsp;&nbsp;Further Assurances](#i61661f25f4b8467696cf6591430b00ca) | [119](#i61661f25f4b8467696cf6591430b00ca) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.13&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Ratings](#iea7527f1585c4b2b9e55f78fa720d1df) | [119](#iea7527f1585c4b2b9e55f78fa720d1df) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.14&nbsp;&nbsp;&nbsp;&nbsp;Accounting Changes](#i501eaef389084523bf2ca56afff79a64) | [119](#i501eaef389084523bf2ca56afff79a64) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.15&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds](#i7a37f5a5af4e4d7ab1d80bc207a0b686) | [119](#i7a37f5a5af4e4d7ab1d80bc207a0b686) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.16&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing Deliveries](#i956626c9bfc54627a3823852053885f0) | [119](#i956626c9bfc54627a3823852053885f0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.17&nbsp;&nbsp;&nbsp;&nbsp;Lender Calls](#id9630a052de84a19a4b6924e46de384f) | [119](#id9630a052de84a19a4b6924e46de384f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.18&nbsp;&nbsp;&nbsp;&nbsp;Change in Nature of Business](#i4594d31f664645e7b238c30d1ba58fb3) | [119](#i4594d31f664645e7b238c30d1ba58fb3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.19&nbsp;&nbsp;&nbsp;&nbsp;Separateness.](#i5aa75c7860714528b9f90a48ffb4e0d0) | [119](#i5aa75c7860714528b9f90a48ffb4e0d0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.20&nbsp;&nbsp;&nbsp;&nbsp;Permits](#i953226a715564bf5bdac0ff40ebbae3a) | [120](#i953226a715564bf5bdac0ff40ebbae3a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.21&nbsp;&nbsp;&nbsp;&nbsp;Sanctions; Anti-Corruption Laws; and Anti-Money Laundering Laws](#i8545b790187a49bd85ffdc545d2f68e9) | [120](#i8545b790187a49bd85ffdc545d2f68e9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.22&nbsp;&nbsp;&nbsp;&nbsp;Insurance](#i40ff78eef1d74df594d3709cb94ffb7e) | [120](#i40ff78eef1d74df594d3709cb94ffb7e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.23&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Hedging](#i8aa1619831ac44dcbb1982feda1b9f77) | [121](#i8aa1619831ac44dcbb1982feda1b9f77) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 6.24&nbsp;&nbsp;&nbsp;&nbsp;Protection of Security Interests](#ic769cef19075432c9a2cf13b33f92054) | [121](#ic769cef19075432c9a2cf13b33f92054) |
| **[ARTICLE VII <br>NEGATIVE COVENANTS](#i799795a4b054412aa8aafc4b24a3194d)** | **[121](#i799795a4b054412aa8aafc4b24a3194d)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.01&nbsp;&nbsp;&nbsp;&nbsp;Liens](#i248a613dbad8453c974002ac0dc25556) | [121](#i248a613dbad8453c974002ac0dc25556) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.02&nbsp;&nbsp;&nbsp;&nbsp;Investments](#ia8ff5029d7f14cd3a929f89c6b9b710e) | [124](#ia8ff5029d7f14cd3a929f89c6b9b710e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.03&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness](#i76ee67e1fabd496b8ea4882477ec786c) | [126](#i76ee67e1fabd496b8ea4882477ec786c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.04&nbsp;&nbsp;&nbsp;&nbsp;Fundamental Changes](#i12b559f4954a4822ab2f6db9a42b2e92) | [128](#i12b559f4954a4822ab2f6db9a42b2e92) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.05&nbsp;&nbsp;&nbsp;&nbsp;Dispositions](#i0dedcb08d2bf4d438dce84a8a8ee76fa) | [129](#i0dedcb08d2bf4d438dce84a8a8ee76fa) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.06&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments](#i85ed36b575df4b818dfb7f52cbd80b94) | [130](#i85ed36b575df4b818dfb7f52cbd80b94) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.07&nbsp;&nbsp;&nbsp;&nbsp;Transactions with Affiliates](#ia5e88587f2b64d9c864efce2afe11d38) | [131](#ia5e88587f2b64d9c864efce2afe11d38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.08&nbsp;&nbsp;&nbsp;&nbsp;Burdensome Agreements](#ie524ab23d0184de68c9df86475df180b) | [131](#ie524ab23d0184de68c9df86475df180b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.09&nbsp;&nbsp;&nbsp;&nbsp;Financial Covenant](#ifcccb999f4d74484924ddc4b1aff8aa9) | [132](#ifcccb999f4d74484924ddc4b1aff8aa9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.10&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\]](#i41ad342ce5904398bc2485c35288eff1) | [132](#i41ad342ce5904398bc2485c35288eff1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.11&nbsp;&nbsp;&nbsp;&nbsp;Change in Nature of Business](#i01e57f1c9c2b4c1bbbdbf05038b1219b) | [132](#i01e57f1c9c2b4c1bbbdbf05038b1219b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.12&nbsp;&nbsp;&nbsp;&nbsp;Bank Accounts](#ie3a995efa93b47eba95e5c70ce62bdca) | [133](#ie3a995efa93b47eba95e5c70ce62bdca) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.13&nbsp;&nbsp;&nbsp;&nbsp;Subsidiaries](#iba6c662e959d4232bbd161bb0bb95442) | [133](#iba6c662e959d4232bbd161bb0bb95442) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.14&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds](#i41994e32cc3f4173a1063ab1dd93ebe2) | [133](#i41994e32cc3f4173a1063ab1dd93ebe2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.15&nbsp;&nbsp;&nbsp;&nbsp;Modification of Material Project Documents](#ic3490fe420c843f18319e449ab04ac21) | [133](#ic3490fe420c843f18319e449ab04ac21) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.16&nbsp;&nbsp;&nbsp;&nbsp;Additional Material Project Documents; Additional TSAs](#i4f3d1afa027d4b3fb6062fe24b8c91ed) | [134](#i4f3d1afa027d4b3fb6062fe24b8c91ed) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.17&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Hedges](#if0c9b898f9c249b29d55506198f9e6c4) | [134](#if0c9b898f9c249b29d55506198f9e6c4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.18&nbsp;&nbsp;&nbsp;&nbsp;Accounting Changes](#id4a2519ba4814e9a959121b9643f7763) | [135](#id4a2519ba4814e9a959121b9643f7763) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.19&nbsp;&nbsp;&nbsp;&nbsp;No Settlement, Etc.](#i11df1dcca0224016b5f2f69c14f9e1d3) | [135](#i11df1dcca0224016b5f2f69c14f9e1d3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 7.20&nbsp;&nbsp;&nbsp;&nbsp;Amendments to Constitutional Documents](#i1fadc0d5b75049d181e1d5e162cb890f) | [135](#i1fadc0d5b75049d181e1d5e162cb890f) |
| **[ARTICLE VIII <br>EVENTS OF DEFAULT AND REMEDIES](#id91ec7284b3e4026ba1c8309960e49b2)** | **[135](#id91ec7284b3e4026ba1c8309960e49b2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.01&nbsp;&nbsp;&nbsp;&nbsp;Events of Default](#iaa87185b46584d7f8ba1970a1e8fae17) | [135](#iaa87185b46584d7f8ba1970a1e8fae17) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.02&nbsp;&nbsp;&nbsp;&nbsp;Remedies Upon Event of Default](#ia26b752adb6043eb876b51ec84fc43ef) | [138](#ia26b752adb6043eb876b51ec84fc43ef) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.03&nbsp;&nbsp;&nbsp;&nbsp;\[Reserved\]](#i3b6dd3ca4d52406e929def803da625b4) | [139](#i3b6dd3ca4d52406e929def803da625b4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.04&nbsp;&nbsp;&nbsp;&nbsp;Application of Funds](#ic7024322a28049438acdf60ad8c0ae1a) | [139](#ic7024322a28049438acdf60ad8c0ae1a) |

---

iii

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 8.05&nbsp;&nbsp;&nbsp;&nbsp;Borrower's Right to Cure](#i72725e5ced6a43faa5a3323a93b903c4) | [139](#i72725e5ced6a43faa5a3323a93b903c4) |
| **[ARTICLE IX <br>ADMINISTRATIVE AGENT AND OTHER AGENTS](#i08fd5292b2eb4855a618ee07a8818e8a)** | **[140](#i08fd5292b2eb4855a618ee07a8818e8a)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.01&nbsp;&nbsp;&nbsp;&nbsp;Appointment and Authorization of Agents](#id6d22c4c5f574a8da8138eefb2bcba70) | [140](#id6d22c4c5f574a8da8138eefb2bcba70) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.02&nbsp;&nbsp;&nbsp;&nbsp;Delegation of Duties](#ia88ff13500804d86b75723b77a2d2ea8) | [141](#ia88ff13500804d86b75723b77a2d2ea8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.03&nbsp;&nbsp;&nbsp;&nbsp;Liability of Agents](#ic507f71bcf1c4a08aec5c5c1def1fcd6) | [142](#ic507f71bcf1c4a08aec5c5c1def1fcd6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.04&nbsp;&nbsp;&nbsp;&nbsp;Reliance by Agents](#iafb6f3f40b254498ab0f0822f3248d3b) | [142](#iafb6f3f40b254498ab0f0822f3248d3b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.05&nbsp;&nbsp;&nbsp;&nbsp;Notice of Default](#ia4221195017b49d0aea7bb6d95b7450c) | [143](#ia4221195017b49d0aea7bb6d95b7450c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.06&nbsp;&nbsp;&nbsp;&nbsp;Credit Decision; Disclosure of Information by Agents](#ic21b7e0f3c8049558f9314dd23b60ce0) | [143](#ic21b7e0f3c8049558f9314dd23b60ce0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.07&nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Agents](#iad085ce6e43a4799b94ac78872c6eaf1) | [143](#iad085ce6e43a4799b94ac78872c6eaf1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.08&nbsp;&nbsp;&nbsp;&nbsp;Agents in Their Individual Capacities](#i8e3a9ad5040846149f0085dbb98e927b) | [144](#i8e3a9ad5040846149f0085dbb98e927b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.09&nbsp;&nbsp;&nbsp;&nbsp;Successor Agents](#i63459313b2884e3dae0a409924d30669) | [144](#i63459313b2884e3dae0a409924d30669) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.10&nbsp;&nbsp;&nbsp;&nbsp;Administrative Agent May File Proofs of Claim](#i3bcacf02732840f5bdd02372a28ed7f3) | [145](#i3bcacf02732840f5bdd02372a28ed7f3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.11&nbsp;&nbsp;&nbsp;&nbsp;Collateral and Guaranty Matters](#i496f28cd7db64bd5ad88188be308db1f) | [146](#i496f28cd7db64bd5ad88188be308db1f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.12&nbsp;&nbsp;&nbsp;&nbsp;Other Agents; Lead Arrangers and Managers](#id89d727ec058457bb0135c17d99d578e) | [147](#id89d727ec058457bb0135c17d99d578e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.13&nbsp;&nbsp;&nbsp;&nbsp;Appointment of Supplemental Agents](#i7037846877314f859958eacf34cb44e1) | [147](#i7037846877314f859958eacf34cb44e1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.14&nbsp;&nbsp;&nbsp;&nbsp;Withholding Tax Indemnity](#i2223b75d478445c08c076016dfd0b2eb) | [148](#i2223b75d478445c08c076016dfd0b2eb) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.15&nbsp;&nbsp;&nbsp;&nbsp;ERISA Matters](#i88e79d4c464d456f9f0c1df099375b87) | [148](#i88e79d4c464d456f9f0c1df099375b87) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 9.16&nbsp;&nbsp;&nbsp;&nbsp;Erroneous Payments](#iebbba7d843b942458de26e2f646c816d) | [149](#iebbba7d843b942458de26e2f646c816d) |
| **[ARTICLE X <br>MISCELLANEOUS](#i14599d85a85748fa830cc46cc678b10e)** | **[150](#i14599d85a85748fa830cc46cc678b10e)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.01&nbsp;&nbsp;&nbsp;&nbsp;Amendments, Etc.](#icd34e44d5d7a4d5e8983ead29eff7967) | [150](#icd34e44d5d7a4d5e8983ead29eff7967) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.02&nbsp;&nbsp;&nbsp;&nbsp;Notices and Other Communications; Facsimile Copies](#i460c345b4ad942c3af2a5a4d885cefc5) | [154](#i460c345b4ad942c3af2a5a4d885cefc5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.03&nbsp;&nbsp;&nbsp;&nbsp;No Waiver; Cumulative Remedies](#i6baf1372ce05420e88587ad52cd43b8f) | [156](#i6baf1372ce05420e88587ad52cd43b8f) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.04&nbsp;&nbsp;&nbsp;&nbsp;Attorney Costs and Expenses](#icd1664756f6e4a4f85a03a4e5edda834) | [156](#icd1664756f6e4a4f85a03a4e5edda834) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.05&nbsp;&nbsp;&nbsp;&nbsp;Indemnification by the Borrower](#i62a86d95b31c4d49b185b438c4788388) | [157](#i62a86d95b31c4d49b185b438c4788388) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.06&nbsp;&nbsp;&nbsp;&nbsp;Payments Set Aside](#i872d9bd17e6042baaeb08343e2a365c8) | [158](#i872d9bd17e6042baaeb08343e2a365c8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.07&nbsp;&nbsp;&nbsp;&nbsp;Successors and Assigns](#ib5ce622146af4245a635fae32cddaeca) | [158](#ib5ce622146af4245a635fae32cddaeca) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.08&nbsp;&nbsp;&nbsp;&nbsp;Confidentiality](#if9cfdf728df84f0f970c884ce4bdae58) | [166](#if9cfdf728df84f0f970c884ce4bdae58) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.09&nbsp;&nbsp;&nbsp;&nbsp;Setoff](#i115c63f42b3a4011907d8ff537652712) | [168](#i115c63f42b3a4011907d8ff537652712) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.10&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Limitation](#idf0d11f75e8441fd8e03916129768dbc) | [168](#idf0d11f75e8441fd8e03916129768dbc) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.11&nbsp;&nbsp;&nbsp;&nbsp;Counterparts](#id02409f0685949a1a8f7c22be4ad49f7) | [168](#id02409f0685949a1a8f7c22be4ad49f7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.12&nbsp;&nbsp;&nbsp;&nbsp;Integration; Termination](#i03dd0de179fa4715b88558e3ab352391) | [169](#i03dd0de179fa4715b88558e3ab352391) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.13&nbsp;&nbsp;&nbsp;&nbsp;Survival of Representations and Warranties](#i081c70e7e3c04e4db74486addc96d22a) | [169](#i081c70e7e3c04e4db74486addc96d22a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.14&nbsp;&nbsp;&nbsp;&nbsp;Severability](#id2ece31b2007481fa0a9a3629ec3fb1e) | [169](#id2ece31b2007481fa0a9a3629ec3fb1e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.15&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING LAW](#if7e6aaaa56c84681a7f17f4620dbee75) | [169](#if7e6aaaa56c84681a7f17f4620dbee75) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.16&nbsp;&nbsp;&nbsp;&nbsp;WAIVER OF RIGHT TO TRIAL BY JURY](#i3edf335f79d941fca63d03b7ccf31070) | [170](#i3edf335f79d941fca63d03b7ccf31070) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.17&nbsp;&nbsp;&nbsp;&nbsp;Binding Effect](#i5ca816e61e634676a364dcfc0ef0d8ec) | [170](#i5ca816e61e634676a364dcfc0ef0d8ec) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.18&nbsp;&nbsp;&nbsp;&nbsp;USA PATRIOT Act](#i7b3484be7845446f899b1c3d35731e54) | [170](#i7b3484be7845446f899b1c3d35731e54) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.19&nbsp;&nbsp;&nbsp;&nbsp;No Advisory or Fiduciary Responsibility](#ibadb9aef2b714324a36a7cc1b0c6e5c1) | [171](#ibadb9aef2b714324a36a7cc1b0c6e5c1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.20&nbsp;&nbsp;&nbsp;&nbsp;Electronic Execution of Assignments](#i62ae943d98994d7f8353f2cc4310cb98) | [172](#i62ae943d98994d7f8353f2cc4310cb98) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.21&nbsp;&nbsp;&nbsp;&nbsp;Appointment of Independent Consultants](#i86dadfba9e4c453085f76c5d6d9df7ca) | [172](#i86dadfba9e4c453085f76c5d6d9df7ca) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.22&nbsp;&nbsp;&nbsp;&nbsp;Judgment Currency](#iec31a75eb408464fb59c2b7aa76033c7) | [172](#iec31a75eb408464fb59c2b7aa76033c7) |

---

iv

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.23&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement and Consent to Bail-In of Affected Financial Institutions](#i851e96082fca425bacb12fec49889bf7) | [172](#i851e96082fca425bacb12fec49889bf7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.24&nbsp;&nbsp;&nbsp;&nbsp;First Lien Intercreditor Agreement](#i8cdc2d9330d84364a31c508bc41bfdb9) | [173](#i8cdc2d9330d84364a31c508bc41bfdb9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Section 10.25&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgement Regarding Any Supported QFCs](#i16cf6d61f24a4e39a2b7d7bb5317fb3e) | [173](#i16cf6d61f24a4e39a2b7d7bb5317fb3e) |

---

SCHEDULES

1.01A&nbsp;&nbsp;&nbsp;&nbsp;Commitments

1.01B&nbsp;&nbsp;&nbsp;&nbsp;Collateral Documents

2.03(b)&nbsp;&nbsp;&nbsp;&nbsp;Target Debt Balance Schedule

4.01(p)&nbsp;&nbsp;&nbsp;&nbsp;Permits

5.05&nbsp;&nbsp;&nbsp;&nbsp;Certain Liabilities

6.11(b)&nbsp;&nbsp;&nbsp;&nbsp;Closing Date Material Real Property

6.16&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing Deliveries

6.22&nbsp;&nbsp;&nbsp;&nbsp;Insurance Policies

7.01(b) &nbsp;&nbsp;&nbsp;&nbsp;Existing Liens

7.03(b) &nbsp;&nbsp;&nbsp;&nbsp;Existing Indebtedness

7.07&nbsp;&nbsp;&nbsp;&nbsp;Transactions with Affiliates

7.08&nbsp;&nbsp;&nbsp;&nbsp;Certain Contractual Obligations

10.02(a) &nbsp;&nbsp;&nbsp;&nbsp;Administrative Agent's Office, Certain Addresses for Notices

v

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EXHIBITS

*Form of*

A&nbsp;&nbsp;&nbsp;&nbsp;Committed Loan Notice

B&nbsp;&nbsp;&nbsp;&nbsp;Note

C-1&nbsp;&nbsp;&nbsp;&nbsp;Compliance Certificate

C-2&nbsp;&nbsp;&nbsp;&nbsp;Solvency Certificate

D&nbsp;&nbsp;&nbsp;&nbsp;Assignment and Assumption

E-1&nbsp;&nbsp;&nbsp;&nbsp;Security and Depositary Agreement

E-2&nbsp;&nbsp;&nbsp;&nbsp;Pledge Agreement

F&nbsp;&nbsp;&nbsp;&nbsp;CP2/Matterhorn Consent Agreement

G&nbsp;&nbsp;&nbsp;&nbsp;First Lien Intercreditor Agreement

H-1&nbsp;&nbsp;&nbsp;&nbsp;US Tax Compliance Certificate (Foreign Non-Partnership Lenders)

H-2&nbsp;&nbsp;&nbsp;&nbsp;US Tax Compliance Certificate (Foreign Non-Partnership Participants)

H-3&nbsp;&nbsp;&nbsp;&nbsp;US Tax Compliance Certificate (Foreign Partnership Lenders)

H-4&nbsp;&nbsp;&nbsp;&nbsp;US Tax Compliance Certificate (Foreign Partnership Participants)

I-1&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Lender Assignment and Assumption

I-2&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Lender Notice

I-3&nbsp;&nbsp;&nbsp;&nbsp;Acceptance and Prepayment Notice

I-4&nbsp;&nbsp;&nbsp;&nbsp;Discount Range Prepayment Notice

I-5&nbsp;&nbsp;&nbsp;&nbsp;Discount Range Prepayment Offer

I-6&nbsp;&nbsp;&nbsp;&nbsp;Solicited Discounted Prepayment Notice

I-7&nbsp;&nbsp;&nbsp;&nbsp;Solicited Discounted Prepayment Offer

I-8&nbsp;&nbsp;&nbsp;&nbsp;Specified Discount Prepayment Notice

I-9&nbsp;&nbsp;&nbsp;&nbsp;Specified Discount Prepayment Response

J&nbsp;&nbsp;&nbsp;&nbsp;Independent Engineer Certificate

K&nbsp;&nbsp;&nbsp;&nbsp;O&M Consent Agreement

vi

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**CREDIT AGREEMENT**

This CREDIT AGREEMENT (as the same may be amended, restated, amended and restated, refinanced, supplemented or otherwise modified from time to time, this "**Agreement**") is entered into as of September 29, 2025, among Blackfin Pipeline, LLC, a Delaware limited liability company (the "**Borrower**"), Blackfin Pipeline Pledgor, LLC, a Delaware limited liability company and the direct parent of the Borrower (together with its successors, the "**Parent**"), Blackfin Supply, LLC, a Delaware limited liability company and the direct subsidiary of the Borrower (the "**Permitted Subsidiary**"), MUFG Bank, Ltd. (acting through such of its affiliates or branches as it deems appropriate), as Administrative Agent, Sumitomo Mitsui Banking Corporation (acting through such of its affiliates or branches as it deems appropriate), as Collateral Agent, and each lender from time to time party hereto (collectively, the "**Lenders**" and individually, a "**Lender**").

PRELIMINARY STATEMENTS

WHEREAS, the Borrower has requested that, upon satisfaction or waiver of the conditions set forth in <u>Section 4.01</u>, the Lenders extend credit to the Borrower in the form of the Initial Term Loans on the Closing Date in an initial aggregate principal amount equal to the aggregate Initial Term Commitment of all of the Lenders;

WHEREAS, the proceeds of the Initial Term Loans will be used by the Borrower, directly or indirectly, for the purposes set forth in <u>Section 5.20</u>; and

WHEREAS, the Lenders have indicated their willingness to lend on the terms and subject to the conditions set forth herein.

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

**ARTICLE I <br>DEFINITIONS AND ACCOUNTING TERMS**

Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. As used in this Agreement (including in the preliminary statements hereto), the following terms shall have the meanings set forth below:

"**Acceptable Bank**" means any major domestic commercial bank or trust company organized under the laws of the United States or of a political subdivision thereof, or by a U.S. branch office of a foreign bank, in any case that at the time any applicable DSR L/C is issued has a long-term issuer rating of at least "A-" by S&P or at least "A3" by Moody's (or a comparable rating from an Acceptable Rating Agency).

"**Acceptable Credit Support**" has the meaning assigned to such term in the Security and Depositary Agreement.

"**Acceptable Discount**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(2)</u>.

"**Acceptable Owner**" means, any Person, when considered collectively with its Affiliates, that (a) has, or is a direct or indirect Subsidiary of a Person that has (i) a tangible net worth, assets under management or, to the extent its securities are publicly traded, equity value of at least $1 billion or (ii) a minimum long term unsecured credit rating of at least Baa3 or higher by Moody's or at least BBB- or

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higher by S&P or Fitch, (b)(i) is a Qualified Operator, (ii) has an Affiliate that is a Qualified Operator or (iii) has caused the Borrower to contract for the operation of the Project by one or more Qualified Operators to the extent the Project is not, at the time of (and after giving effect to) the acquisition of the applicable membership interests, operated by a Qualified Operator, (c) is not a Sanctioned Person and (d) has delivered to the Administrative Agent all documentation and other information as it may reasonably request required by the Administrative Agent's regulatory authorities with respect to such Person under applicable Anti-Money Laundering Laws, including, without limitation, applicable "know your customer" rules and the USA PATRIOT Act.

"**Acceptable Prepayment Amount**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(3)</u>.

"**Acceptable Rating Agency**" means (a) Moody's, Fitch and/or S&P or (b) any other credit rating agency that is recognized as a nationally recognized statistical rating organization by the Securities Exchange Commission, so long as, in each case, any such credit rating agency described in clause (a) or (b) above continues to be a nationally recognized statistical rating organization recognized by the Securities Exchange Commission and is approved as a "Credit Rating Provider" (or other similar designation) by the NAIC.

"**Acceptance and Prepayment Notice**" means a notice of the Borrower's acceptance of the Acceptable Discount in substantially the form of <u>Exhibit I-3</u>.

"**Acceptance Date**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(2)</u>.

"**Additional Lender**" has the meaning set forth in <u>Section 2.12(c)</u>.

"**Additional Material Project Document**" means any contract or agreement entered into by the Borrower after the Closing Date (a) pursuant to which the Company is required to make payments in excess of fifty million Dollars (US$50,000,000) or (b) the termination of which would reasonably be expected to have a Material Adverse Effect.

"**Additional Refinancing Lender**" has the meaning set forth in <u>Section 2.13(a)</u>.

"**Additional TSA**" means any contract to lease pipeline capacity to transporters and/or provide transportation or/or storage services to shippers, entered into after the execution of this Agreement from time to time, in respect of capacity that is not otherwise contracted pursuant to the CP2 TSA.

"**Adjusted EBITDA**" shall mean, with respect to the Borrower for any period, the Net Income of the Borrower for such period plus, the sum of (in each case without duplication, and without duplication of any modifications contained in the definition of Net Income):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;provision for Taxes based on income, profits, revenue or capital of the Borrower for such period, including, without limitation, state, franchise and similar taxes and foreign withholding taxes (including penalties and interest related to taxes or arising from tax examinations), *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Interest Expense (and to the extent not included in Interest Expense, (A) solely to the extent deducted from Net Income, all cash dividend payments (excluding items eliminated in consolidation) on any series of preferred stock or disqualified stock and (B) costs of surety bonds in connection with financing activities) of the Borrower for such period (net of interest income of the Borrower for such period), *plus*

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;depreciation and amortization expenses and capitalized fees, including, without limitation, the amortization of intangible assets, contributions in aid of construction costs, deferred financing costs, contract acquisition costs, prepaid cash items, debt issuance costs, commissions, fees and expenses, and any capitalized software expenditures of the Borrower for such period on a consolidated basis and otherwise determined in accordance with GAAP, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;non-cash items; *provided* that accruals or reserves for potential cash items in any future period may or may not (at the election of the Borrower) be added back in such period and, to the extent added back, the cash payment in respect of such accrual or reserve in a future period shall be subtracted from Adjusted EBITDA in such future period, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;extraordinary, unusual, infrequent or non-recurring items, whether or not classified as such under GAAP, including the following: (i) restructuring, severance, relocation, consolidation, integration or other similar items, (ii) start-up, closure or transition costs, (iii) expenses associated with strategic initiatives, facilities shutdown and opening costs, (iv) signing, retention and completion bonuses, (v) relocation or recruiting expenses, (vi) costs, expenses and losses incurred in connection with any strategic or new initiatives, (vii) transition, consolidation and closing costs for facilities, (viii) business optimization expenses (including costs and expenses relating to business optimization programs), expenses and charges attributable to the implementation of costs savings initiatives, and any restructuring costs, charges or reserves, whether or not classified as such under GAAP (which, for the avoidance of doubt, shall include, without limitation, the effect of inventory optimization programs, facility closure, facility consolidations, retention, severance, systems establishment costs, contract termination costs, future lease commitments and excess pension charges), (ix) new systems design and implementation costs, (x) public company expenses, including costs associated with an initial public offering, (xi) charges and expenses incurred in connection with litigation (including threatened litigation), any investigation or proceeding (or any threatened investigation or proceeding) by a regulatory, governmental or law enforcement body (including any attorney general), and (xii) expenses incurred in connection with casualty events or asset sales outside the ordinary course of business, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all (i) costs, fees and expenses incurred in connection with, or relating to, the Facilities and/or the transactions contemplated by the Loan Documents, (ii) costs, fees and expenses incurred in connection with, or relating to, the TLA/Revolver Credit Agreement and/or the transactions contemplated by the loan documents thereunder, (iii) costs, fees and expenses incurred in connection with transactions that are out of the ordinary course of business of the Borrower (including transactions proposed but not consummated) including equity issuances, investments, acquisitions, dispositions, recapitalizations, mergers, option buyouts and the incurrence, modification or repayment of indebtedness and (iv) non-operating professional fees, costs and expenses, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;to the extent permitted to be paid hereunder, the amount of any permitted management, monitoring, consulting, transaction or advisory fees and related expenses and indemnities paid to any person that is a direct or indirect parent company (which may be organized, among other things, as a partnership), including any managing member, of the Borrower, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate amount of expenses for such period attributable to non-controlling interests of third parties in any non-wholly-owned subsidiary not included in calculating Net Income in such period, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to the extent permitted to be paid hereunder, any costs or expense incurred by the Borrower pursuant to any management equity plan or stock option or phantom equity plan or any other

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management or employee benefit plan or agreement or any stock subscription or shareholder agreement and any compensation paid to members of the board of directors at the Borrower, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;any earn-out payment permitted hereunder to the extent paid and to the extent such earn-out payments reduce Net Income, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;to the extent relating to any acquisition, merger, business combination, investment, disposition or similar transaction, or minimum volume commitment, the amount of "run-rate" cost savings, operating expense reductions and synergies that are reasonably identifiable and factually supportable and projected by the Borrower in good faith to result from actions either taken or expected to be taken within 24 months of the consummation of such transaction, net of the amount of actual benefits realized prior to or during such period from such transactions (which cost savings, operating expense reductions and synergies shall be calculated on a pro forma basis as though such cost savings, operating expense reductions or synergies had been realized on the first day of such period), *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;any cost and expense incurred by the Borrower in respect of the operation and maintenance of its assets, to the extent such costs and expenses are paid for with the proceeds of cash contributions to the common equity of the Borrower and/or purchases of or investments in equity interests of the Borrower;

*provided* that in the event the Borrower undertakes a Material Project or enters into an MVC Contract, a Material Project EBITDA Adjustment or MVC EBITDA Adjustment, as applicable, may be added to Adjusted EBITDA at the Borrower's option (subject to receipt and approval (such approval not to be unreasonably withheld, conditioned or delayed) by the Administrative Agent of customary information, as more fully set forth in the TLA/Revolver Credit Agreement).

"**Administrative Agent**" means MUFG (acting through such of its affiliates or branches as it deems appropriate), in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent.

"**Administrative Agent's Office**" means the Administrative Agent's address and account as set forth on <u>Schedule 10.02(a)</u>, or such other address or account as the Administrative Agent may from time to time notify the Borrower and the Lenders.

"**Administrative Questionnaire**" means an Administrative Questionnaire in such form as may be supplied from time to time by the Administrative Agent.

"**Affected Financial Institution**" means (a) any EEA Financial Institution or (b) any UK Financial Institution.

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

"**Affiliated Lender**" means, at any time, any Lender that is (a) a Sponsor (including portfolio companies of the Sponsors notwithstanding the exclusion in the definition of "Sponsors") (other than (i) the Borrower or the Parent and (ii) any Debt Fund Affiliate), (b) a Non-Debt Fund Affiliate of a Sponsor or (c) a direct or indirect holding company of the Borrower, at such time.

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"**Affiliated Lender Assignment and Assumption**" has the meaning set forth in <u>Section 10.07(k)(i)</u>.

"**Affiliated Lender Cap**" has the meaning set forth in <u>Section 10.07(k)(iii)</u>.

"**Affiliated Lender Notice**" has the meaning set forth in <u>Section 10.07(k)(iv)</u>.

"**Agent-Related Persons**" means the Agents and the Lead Arrangers, together with their respective Affiliates and the officers, directors, employees, partners, agents, advisors, attorneys-in-fact and other representatives of such Persons and Affiliates.

"**Agents**" means, collectively, the Administrative Agent, the Collateral Agent, the Intercreditor Agent and the Supplemental Agents (if any).

"**Aggregate Commitments**" means the Commitments of all the Lenders.

"**Agreement**" has the meaning set forth in the introductory paragraph hereto.

"**All-In Yield**" means, as to any Indebtedness, the yield thereof, whether in the form of interest rate, margin, OID, upfront fees, a SOFR or Base Rate floor, or otherwise, in each case, incurred or payable by the Loan Parties generally to all lenders of such Indebtedness; *provided* that OID and upfront fees shall be equated to an interest rate assuming a four (4)-year life to maturity (e.g., 100 basis points of original issue discount equals to 25 basis points of interest margin for a four (4) year average life to maturity) or, if less, the stated life to maturity at the time of incurrence of the applicable Indebtedness; and *provided*, *further*, that (a) "All-In Yield" shall not include amendment fees, consent fees, arrangement fees, structuring fees, commitment fees, underwriting fees, placement fees, advisory fees, success fees, ticking fees, undrawn commitment fees and similar fees (regardless of whether any of the foregoing fees are paid to, or shared with, in whole or in part any or all lenders of such Indebtedness), any fees not paid or payable in the primary syndication of such Indebtedness or other fees not paid or payable generally to such lenders ratably (or, if there is only one Lender (or one affiliated group of Lenders), are of the type not customarily shared with lender generally) and (b) if any Incremental Term Loans include a SOFR or Base Rate floor that is greater than the SOFR or Base Rate floor applicable to any existing Class of Term Loans, such differential between SOFR or Base Rate floors, as applicable, shall be included in the calculation of All-In Yield, but only to the extent an increase in the SOFR or Base Rate floor applicable to the existing Term Loans would cause an increase in the interest rate then in effect thereunder, and in such case the SOFR and Base Rate floors (but not the Applicable Rate, unless the Borrower otherwise elects in its sole discretion) applicable to the existing Term Loans shall be increased to the extent of such differential between SOFR or Base Rate floors, as the case may be.

"**Anti-Corruption Laws**" means any and all Laws related to the prevention of corruption or bribery, including, but not limited to, the U.S. Foreign Corrupt Practices Act of 1977 and the UK Bribery Act 2010, each as amended.

"**Anti-Money Laundering Laws**" means any and all Laws related to the prevention of money laundering or terrorism financing, including, but not limited to, the Bank Secrecy Act, as amended by Title III of the USA PATRIOT Act.

"**Applicable Discount**" has the meaning set forth in <u>Section 2.03(a)(iv)(C)(2)</u>.

------

"**Applicable Rate**" means a percentage *per annum* equal to (a) for Term SOFR Loans, 3.25% and (b) for Base Rate Loans, 2.25%.

"**Appropriate Lender**" means, at any time, with respect to Loans of any Class, the Lenders of such Class.

"**Approved Fund**" means, with respect to any Lender, any Fund that is administered, advised or managed by (a) such Lender, (b) an Affiliate of such Lender or (c) an entity or an Affiliate of an entity that administers, advises or manages such Lender.

"**Assignees**" has the meaning set forth in <u>Section 10.07(b)(i)</u>.

"**Assignment and Assumption**" means an Assignment and Assumption substantially in the form of <u>Exhibit D</u>.

"**Attorney Costs**" means and includes all reasonable and documented fees, out-of-pocket expenses and disbursements of any law firm or other external legal counsel.

"**Attributable Indebtedness**" means, on any date, in respect of any Capitalized Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP.

"**Auction Agent**" means (a) the Administrative Agent or (b) any other financial institution or advisor employed by the Borrower (whether or not an Affiliate of the Administrative Agent) to act as an arranger in connection with any Discounted Term Loan Prepayment pursuant to <u>Section 2.03(a)(iv)</u>; *provided* that the Borrower shall not designate the Administrative Agent as the Auction Agent without the written consent of the Administrative Agent (it being understood that the Administrative Agent shall be under no obligation to agree to act as the Auction Agent); *provided*, *further*, that neither the Borrower nor any of its Affiliates may act as the Auction Agent.

"**Available Amount**" shall mean, at any time (the "**Reference Date**"), the sum of (without duplication):

&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;100% of Cash Flow Available for Distribution; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;(ii) &nbsp;&nbsp;&nbsp;&nbsp;to the extent not already reflected as a return of capital with respect to such Investment for purposes of determining the amount of such Investment, the aggregate amount of all cash dividends and other distributions received by the Borrower from any Investments (to the extent that such Investments are made with a prior utilization of the Available Amount) during the period from and including the Closing Date through and including the Reference Date; *provided*, in no case shall such amount exceed the amount of such Investment made using the Available Amount; *plus*

&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;proceeds (consisting of cash or Permitted Investments) (other than proceeds of ordinary course asset sales) of any Disposition by the Borrower that are Not Otherwise Applied; *minus*

&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the sum of the amounts include in this definition used to (i) incur Liens pursuant to <u>Section 7.01(r)</u>, (ii) make Investments pursuant to <u>Section 7.02(o)</u>, (iii) incur Indebtedness pursuant to <u>Section 7.03(j)</u> and (iv) pay dividends or make distributions pursuant to <u>Section 7.06(b)</u> 

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(and, for purposes of this <u>clause (iv)</u>, without taking account of the intended usage of the Available Amount on such Reference Date).

"**Available Equity Amount**" means, as of any time of determination, an aggregate amount not greater than the sum of,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 100.0% of (i) the net cash proceeds and Cash Equivalent proceeds and the fair market value, as determined in good faith by the Borrower, of marketable securities or other property (with respect to such property, to the extent that the Independent Engineer has confirmed that such property would be used or useful in the business of the Borrower) received by the Borrower since the Closing Date from (x) the issuance or sale of its Qualified Equity Interests and/or (y) contributions to its common equity with the net proceeds from the issuance and sale by the Parent (or any direct or indirect parent of the Parent) of its Qualified Equity Interests or a contribution to its common equity (in each case of <u>(x)</u> and <u>(y)</u>, other than proceeds from the sale of Equity Interests to, or contributions from, the Borrower and other than the proceeds of any Designated Equity Contribution), *plus* (ii) dividends or returns of capital from Investments made pursuant to <u>Section 7.02(p)</u>, *plus* (iii) the aggregate principal amount of any Indebtedness of the Borrower (other than Indebtedness owed to any Affiliate of the Borrower) exchanged or converted into or replaced by Qualified Equity Interests, *plus* (iv) Net Proceeds of Dispositions that are Declined Proceeds and are Not Otherwise Applied; *provided* that with respect to the components set forth in the foregoing clauses (ii) through (iv), any such amounts included in the calculation of Available Equity Amount shall not be included in calculation of the baskets provided in <u>Section 7.01(r)</u>, <u>Section 7.02(o)</u>, <u>Section 7.03(j)</u>, and <u>Section 7.06(b)</u>; *minus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the sum of the amounts included in <u>clause (a)</u> above used to (i) make Investments pursuant to <u>Section 7.02(p)</u> and (ii) pay dividends or make distributions pursuant to <u>Section 7.06(g)</u>.

"**Available Tenor**" means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (a) if such Benchmark is a term rate, any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an interest period pursuant to this Agreement or (b) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of "Interest Period" pursuant to <u>Section 3.03(d)</u>.

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

"**Bail-In Legislation**" means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).

"**Bankruptcy Code**" means the U.S. Bankruptcy Code, being Title 11 of the U.S. Code.

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"**Base Rate**" means, for any day, a rate per annum equal to the highest of (a) the sum of one-half of one percent (0.50%) per annum and the Federal Funds Rate, (b) the Prime Rate on such day and (c) Term SOFR published on such day (or if such day is not a Business Day the next previous Business Day) for an Interest Period of one month plus one percent (1.00%).

"**Base Rate Loan**" means a Loan that bears interest based on the Base Rate.

"**Benchmark**" means, initially, Term SOFR; *provided* that, if a Benchmark Transition Event has occurred with respect to Term SOFR or the then-current Benchmark, then "Benchmark" means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to <u>Section 3.03(a)</u>.

"**Benchmark Replacement**" means, with respect to any Benchmark Transition Event, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Daily Simple SOFR; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the sum of: (i) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower giving due consideration to (A) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (B) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement to the then-current Benchmark for Dollar-denominated syndicated credit facilities and (ii) the related Benchmark Replacement Adjustment.

If the Benchmark Replacement as determined pursuant to clause (a) or (b) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.

"**Benchmark Replacement Adjustment**" means, with respect to any replacement of the then- current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body and/or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for U.S. dollar- denominated syndicated credit facilities at such time.

"**Benchmark Replacement Conforming Changes**" means, with respect to the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of "Base Rate," the definition of "Business Day," the definition of "U.S. Government Securities Business Day," the definition of "Interest Period" or any similar or analogous definition (or the addition of a concept of "interest period"), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and the applicability of other technical, administrative or operational matters) that the Administrative Agent decides (in consultation with the Borrower) may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration thereof

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by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of any such rate exists, in such other manner of administration as the Administrative Agent decides (in consultation with the Borrower) is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

"**Benchmark Replacement Date**" means a date and time determined by the Administrative Agent, which date shall be no later than the earliest to occur of the following events with respect to the then-current Benchmark:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;in the case of clause (1) or (2) of the definition of "Benchmark Transition Event," the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;in the case of clause (3) of the definition of "Benchmark Transition Event," the first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by or on behalf of the administrator of such Benchmark (or such component thereof) or the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be non-representative; *provided*, that such non-representativeness, non-compliance or non-alignment will be determined by reference to the most recent statement or publication referenced in such clause (3) and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date.

For the avoidance of doubt, the "Benchmark Replacement Date" will be deemed to have occurred in the case of clause (1) or (2) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof). For the avoidance of doubt, if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.

"**Benchmark Transition Event**" means, with respect to any Benchmark, the occurrence of one or more of the following events with respect to such then-current Benchmark:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp; a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely, *provided* that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the FRB, the Federal Reserve Bank of New York, the Term SOFR Administrator, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with

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similar insolvency or resolution authority over the administrator for such Benchmark (or such component), in each case, which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, *provided* that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) or the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer, or as of a specified future date will no longer be, representative.

For the avoidance of doubt, a "Benchmark Transition Event" will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).

"**Benchmark Unavailability Period**" means, with respect to any Benchmark, the period (if any) (x) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with <u>Section 3.03</u> and (y) ending at the time that a Benchmark Replacement has replaced such then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with <u>Section 3.03</u>.

"**Beneficial Ownership Certification**" means a certification regarding individual beneficial ownership solely to the extent required by the Beneficial Ownership Regulation.

"**Beneficial Ownership Regulation**" means 31 C.F.R. § 1010.230.

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

"**Blackfin Capacity Lease**" means that certain Capacity Lease Agreement, dated as of January 19, 2024 (together with all related service orders), between the Borrower and the Transporter for the lease of 100% of the pipeline capacity of the Project in order for the Transporter to provide natural gas transportation services to the Committed Shipper pursuant to a Transportation Service Agreement dated as of November 1, 2024, by and between the Transporter and Venture Global CP2 LNG, LLC (the "**CP2 TSA**").

"**Borrower**" has the meaning set forth in the introductory paragraph to this Agreement.

"**Borrower Materials**" has the meaning set forth in <u>Section 6.02</u>.

"**Borrower Offer of Specified Discount Prepayment**" means the offer by any Loan Party to make a voluntary prepayment of Term Loans at the Specified Discount pursuant to <u>Section 2.03(a)(iv)(B)</u>.

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"**Borrower Solicitation of Discount Range Prepayment Offers**" means the solicitation by any Loan Party of offers for, and the corresponding acceptance by a Lender of, a voluntary prepayment of Term Loans at a specified range of discounts to par pursuant to <u>Section 2.03(a)(iv)(C)</u>.

"**Borrower Solicitation of Discounted Prepayment Offers**" means the solicitation by any Loan Party of offers for, and the subsequent acceptance, if any, by a Lender of, a voluntary prepayment of Term Loans at a discount to par pursuant to <u>Section 2.03(a)(iv)(D)</u>.

"**Borrowing**" means a borrowing consisting of simultaneous Loans of the same Class and Type and, in the case of Term SOFR Loans, having the same Interest Period.

"**Business Day**" means (a) any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state of New York and (b) if such day relates to any interest rate settings or notices of fundings, disbursements or payments in respect of any Term SOFR Loan, means any day that is a U.S. Government Securities Business Day.

"**Capital Expenditures**" means, for any period, the aggregate of all expenditures (whether paid in cash or accrued as liabilities and including in all events all amounts expended or capitalized under Capitalized Leases) by the Borrower during such period that, in conformity with GAAP, are required to be included as capital expenditures on the consolidated statement of cash flows of the Borrower.

"**Capitalized Lease Obligation**" means, at the time any determination thereof is to be made, the amount of the liability in respect of a Capitalized Lease; *provided* that any obligations of any Person either existing on the Closing Date or created prior to any re-characterization described below (a) that were not included on the consolidated balance sheet of such Person as financing or capital lease obligations and (b) that are subsequently re-characterized as financing or capital lease obligations or indebtedness due to a change in accounting treatment or otherwise, shall for all purposes under this Agreement (including, without limitation, the calculation of Net Income and Adjusted EBITDA) not be treated as financing or capital lease obligations, Capitalized Lease Obligations or Indebtedness.

"**Capitalized Leases**" means all leases that have been or are required to be, in accordance with GAAP, recorded as financings or capital leases (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP; *provided* that for all purposes hereunder the amount of obligations under any Capitalized Lease shall be the amount thereof accounted for as a liability on a balance sheet in accordance with GAAP; *provided, further*, that for purposes of calculations made pursuant to the terms of this Agreement or compliance with any covenant, GAAP will be deemed to treat leases in a manner consistent with its treatment under GAAP as of December 31, 2018, notwithstanding any modifications or interpretive changes thereto that may occur thereafter.

"**Cash Equivalents**" means any of the following types of Investments, to the extent owned by any Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Dollars;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;securities issued or directly and fully and unconditionally guaranteed or insured by the U.S. government or any agency or instrumentality thereof the securities of which are unconditionally guaranteed as a full faith and credit obligation of such government with maturities of twenty-four (24) months or less from the date of acquisition;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;certificates of deposit, time deposits and eurodollar time deposits with maturities of twenty-four (24) months or less from the date of acquisition, demand deposits, bankers' acceptances with maturities not exceeding one (1) year and overnight bank deposits, in each case with any domestic or foreign commercial bank having capital and surplus of not less than $250,000,000 in the case of U.S. banks and $1,000,000,000 in the case of non-U.S. banks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;repurchase obligations for underlying securities of the types described in <u>clauses (b)</u>, <u>(e)</u>, <u>(f)</u>, <u>(g)</u> and <u>(h)</u> entered into with any financial institution or recognized securities dealer meeting the qualifications applicable to banks specified in clause (c) above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;commercial paper and variable or fixed rate notes rated at least P-2 by Moody's or at least A-2 by S&P (or, if at any time neither Moody's nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency) and in each case maturing within twenty-four (24) months after the date of creation thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;marketable short-term money market and similar funds having a rating of at least P-2 or A-2 from either Moody's or S&P, respectively (or, if at any time neither Moody's nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;readily marketable direct obligations issued by any state, commonwealth or territory of the United States or any political subdivision or taxing authority thereof having an investment grade rating from either Moody's or S&P (or, if at any time neither Moody's nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency) with maturities of twenty-four (24) months or less from the date of acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;readily marketable direct obligations issued by any foreign government or any political subdivision or public instrumentality thereof, in each case having an investment grade rating from either Moody's or S&P (or, if at any time neither Moody's nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency) with maturities of twenty-four (24) months or less from the date of acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Investments with average maturities of twelve (12) months or less from the date of acquisition in money market funds rated AAA (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody's (or, if at any time neither Moody's nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;investments in "money market funds" within the meaning of Rule 2a7 of the Investment Company Act of 1940, as amended, substantially all of whose assets are invested in investments issued by a financial institution having total assets in excess of $5,000,000,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;securities with maturities of twelve (12) months or less from the date of acquisition backed by standby letters of credit issued by any financial institution or recognized securities dealer meeting the qualifications specified in <u>clause (l)</u> below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness or preferred stock issued by Persons with a rating of "A" or higher from S&P or "A2" or higher from Moody's with maturities of twenty-four (24) months or less from the date of acquisition; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;investment funds investing at least ninety percent (90%) of their assets in securities of the types described in <u>clauses (a)</u> through <u>(l)</u> above.

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Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth in clause (a) above; *provided* that such amounts are converted into any currency listed in clause (a) as promptly as practicable and in any event within ten (10) Business Days following the receipt of such amounts.

For the avoidance of doubt, any items identified as Cash Equivalents under this definition will be deemed to be Cash Equivalents for all purposes regardless of the treatment of such items under GAAP.

"**Cash Flow Available for Debt Service**" means, for any calculation period, the difference between (a) the Project Revenues deposited into the Revenue Account (or, in the case of the calculation of any projected Debt Service Coverage Ratio, due to be received) during such period, *minus* (b) the Operating Expenses paid (or, in the case of the calculation of any projected Debt Service Coverage Ratio, expected to be paid) by the Borrower during such calculation period *plus* (c) amounts withdrawn from the Major Maintenance Reserve Account pursuant to the terms of the Security and Depositary Agreement during such calculation period *minus* (d) amounts deposited into the Major Maintenance Reserve Account pursuant to the terms of the Security and Depositary Agreement during such calculation period.

"**Cash Flow Available for Distribution**" means, at any time, an aggregate amount, not less than zero, determined on a cumulative basis equal to the sum of, without duplication:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the sum of (i) the Cumulative Retained Available Cash Amount at such time and (ii) the aggregate amount of all Declined Proceeds (and any other Net Proceeds not required for a mandatory prepayment under <u>Section 2.03(b)</u>) as of such time, *minus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the sum of the amounts included in <u>clause (a)</u> above used to (i) incur Liens pursuant to <u>Section 7.01(r)</u>, (ii) make Investments pursuant to <u>Section 7.02(o)</u>, (iii) incur Indebtedness pursuant to <u>Section 7.03(j)</u>, and (iv) pay dividends or make distributions pursuant to <u>Section 7.06(b)</u>.

"**Casualty Event**" means any (a) damage to, destruction of, or other casualty or loss involving, any property or asset or (b) seizure, condemnation, confiscation or taking under the power of eminent domain of, or any requisition of title or use of, or relating to, or any similar event in respect of, any property or asset of the Borrower or the Permitted Subsidiary, in each case, that gives rise to the receipt by the Borrower or the Permitted Subsidiary of any insurance proceeds or condemnation awards.

"**Change of Control**" shall be deemed to occur if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;at any time prior to the Conversion Date, any combination of the Sponsors and their Affiliates shall fail to (i) own beneficially (within the meaning of Rule 13d-5 of the Exchange Act as in effect on the Closing Date), directly or indirectly, in the aggregate, Equity Interests representing at least 50.0% of the the issued and outstanding Equity Interests of the Borrower or (ii) Control the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;at any time on or after the Conversion Date, any combination of the Sponsors, their Affiliates and Acceptable Owners shall fail to (i) own beneficially (within the meaning of Rule 13d-5 of the Exchange Act as in effect on the Closing Date), directly or indirectly, in the aggregate, Equity Interests representing at least 50.0% of the issued and outstanding Equity Interests of the Borrower or (ii) Control the Borrower; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Parent shall cease to own directly or indirectly 100.0% of the Equity Interests of the Borrower.

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*provided*, that, notwithstanding the foregoing, solely with respect to the Term Loans, no Change of Control shall occur if, in connection with any transaction that would otherwise constitute a Change of Control with respect to <u>clauses (a)</u> and <u>(b)</u> of the definition thereof, each of Moody's and S&P shall have provided a ratings reaffirmation of each of the then-prevailing public ratings of the Initial Term Loans as of the Closing Date after giving effect to the proposed transaction, in each case, with no negative outlook.

Notwithstanding the preceding or any provision of Section 13d-3 of the Exchange Act, (i) a Person or group shall not be deemed to beneficially own Equity Interests subject to a stock or asset purchase agreement, merger agreement, option agreement, warrant agreement or similar agreement (or voting or option or similar agreement related thereto) until the consummation of the acquisition of the Equity Interests in connection with the transactions contemplated by such agreement and (ii) if any group includes one or more Permitted Holders, the issued and outstanding Equity Interests of the Parent owned, directly or indirectly, by any Permitted Holders that are part of such group shall be treated as being beneficially owned by such Permitted Holders and shall not be treated as being beneficially owned by such group or any other member of such group for purposes of determining whether a Change of Control has occurred.

"**Class**" (a) when used with respect to any Lender, refers to whether such Lender has a Loan or Commitment with respect to a particular Class of Loans or Commitments, (b) when used with respect to Commitments, refers to whether such Commitments are Initial Term Commitments, Incremental Term Commitments, Refinancing Commitments of a given Refinancing Series or Extended Term Loans of a given Extension Series, and (c) when used with respect to Loans or a Borrowing, refers to whether such Loans, or the Loans comprising such Borrowing, are Initial Term Loans, Incremental Term Loans, Refinancing Term Loans of a given Refinancing Series or Extended Term Loans of a given Extension Series. Initial Term Commitments, Incremental Term Commitments or Refinancing Commitments (and in each case, the Loans made pursuant to such Commitments) that have different terms and conditions shall be construed to be in different Classes. Commitments (and, in each case, the Loans made pursuant to such Commitments) that have the same terms and conditions shall be construed to be in the same Class. There shall be no more than an aggregate of five (5) Classes of Facilities under this Agreement.

"**Closing Date**" means September 29, 2025, the first date on which all conditions precedent in <u>Section 4.01</u> are satisfied or waived in accordance with <u>Section 4.01</u>.

"**Closing Date Financial Model"** has the meaning set forth in <u>Section 4.01(m)</u>.

"**Code**" means the U.S. Internal Revenue Code of 1986, as amended from time to time.

"**Collateral**" means (a) the "Collateral" as defined in the Security and Depositary Agreement, (b) all the "Collateral", "Pledged Collateral", "Pledged Assets" or "Account Collateral" as defined in any other Collateral Document and (c) any other assets pledged or in which a Lien is granted, in each case, pursuant to any Collateral Document.

"**Collateral Agent**" means SMBC (acting through such of its affiliates or branches as it deems appropriate), in its capacity as collateral agent or pledgee in its own name under any of the Loan Documents, or any successor collateral agent.

"**Collateral and Guarantee Requirement**" means, at any time, the requirement that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Administrative Agent and the Collateral Agent shall have received each Collateral Document required to be delivered on the Closing Date pursuant to <u>Section 4.01(a)(iii)</u> or from time to

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time pursuant to <u>Section 6.11</u>, <u>Section 6.12</u> or <u>Section 6.16</u>, subject to the limitations and exceptions of this Agreement, duly executed by each Loan Party party thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Obligations shall have been guaranteed by the Parent and the Permitted Subsidiary pursuant to the Guaranty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Obligations and the Guaranty shall have been secured pursuant to the Pledge Agreement by a first-priority security interest, subject to Permitted Liens, in all the Equity Interests in the Borrower (and the Collateral Agent shall have received certificates or other instruments representing all such Equity Interests (if any), together with undated stock powers or other instruments of transfer with respect thereto endorsed in blank);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all Pledged Debt owing to the Borrower or any other Loan Party that is evidenced by a promissory note with a principal amount in excess of $25,000,000 shall have been delivered to the Collateral Agent pursuant to the Security and Depositary Agreement and the Collateral Agent shall have received all such promissory notes, together with undated instruments of transfer with respect thereto endorsed in blank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Obligations and the Guaranty shall have been secured by a perfected security interest in substantially all now owned or at any time hereafter acquired tangible and intangible assets of the Borrower (including Equity Interests, intercompany debt, accounts, inventory, equipment, investment property, contract rights, intellectual property, IP Rights, other general intangibles and proceeds of the foregoing), in each case, subject to exceptions and limitations otherwise set forth in this Agreement and the Collateral Documents (to the extent appropriate in the applicable jurisdiction);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;within 120 days after the Closing Date, the Obligations and the Guaranty shall have been secured by a perfected security interest in, and Mortgages on, substantially all Collateral consisting of Material Real Property, subject to exceptions and limitations otherwise set forth in this Agreement, including this definition, and the Collateral Documents (to the extent appropriate in the applicable jurisdiction); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;subject to limitations and exceptions of this Agreement and the Collateral Documents, to the extent a security interest in and mortgages ("**Mortgages**") on any Material Real Property are required pursuant to <u>clause (g)</u> above or under <u>Section 6.11</u>, <u>Section 6.12</u> or <u>Section 6.16</u> (each, a "**Mortgaged Property**"), within 120 days after the Closing Date (or the applicable later date in accordance with <u>Section 6.11</u>, <u>Section 6.12</u> or <u>Section 6.16</u>, or such later date as may be agreed to by the Administrative Agent in its sole discretion), the Administrative Agent shall have received (i) counterparts of a Mortgage with respect to such Mortgaged Property duly executed and delivered by the applicable Loan Party, in form suitable for filing or recording in all filing or recording offices that the Administrative Agent may

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reasonably deem necessary or desirable in order to create a valid and subsisting perfected Lien (subject only to Permitted Liens) on the property and/or rights described therein in favor of the Collateral Agent for the benefit of the Secured Parties, and evidence that all filing and recording and mortgage taxes and fees have been paid or otherwise provided for in a manner reasonably satisfactory to the Administrative Agent (it being understood that if a mortgage tax will be owed on the entire amount of the indebtedness evidenced hereby, then the amount secured by the Mortgage shall be limited to 100% of the fair market value of the property (as reasonably determined by the Borrower) at the time the Mortgage is entered into if such limitation results in such mortgage tax being calculated based upon such fair market value), (ii) fully paid policies of title insurance (or marked-up title insurance commitments having the effect of policies of title insurance) on the Mortgaged Property naming the Collateral Agent as the insured for its benefit and that of the Secured Parties and their respective successors and assigns (the "**Mortgage Policies**") issued by a nationally recognized title insurance company reasonably acceptable to the Administrative Agent in form and substance and in an amount reasonably acceptable to the Administrative Agent (not to exceed 100% of the fair market value of the real properties covered thereby), insuring the Mortgages to be valid subsisting first priority Liens on the property described therein, subject to Permitted Liens (and for avoidance of doubt, excluding any mechanics' lien coverage unless the title company agrees to provide such mechanics' lien coverage based on an indemnity from the Borrower); *provided*, *however*, that in lieu of a zoning endorsement the Administrative Agent may accept a zoning report from a nationally recognized zoning report provider; further, *provided*, *however*, and notwithstanding anything to the contrary, in no event shall Borrower be obligated to obtain Mortgage Policies with respect to any Immaterial Real Property, (iii) (A) to the extent that construction of the improvements on such Material Real Property are complete, American Land Title Association/National Society of Professional Surveyors land title surveys, certified to the Collateral Agent and the issuer of the Mortgage Policies in a manner reasonably satisfactory to the Administrative Agent or (B) if applicable, previously obtained ALTA/NSPS land title surveys (collectively, "**Surveys**"), *provided*, *however*, that in no event shall any Loan Party be obligated to obtain Surveys with respect to any Immaterial Real Property, (iv) customary legal opinions of local counsel for the relevant Loan Party in the jurisdiction in which such Material Real Property is located, and (v) with respect to each Mortgaged Property, all information as the Administrative Agent may request in order to obtain "Life of Loan" standard flood hazard determination forms from a firm reasonably acceptable to the Administrative Agent covering any Buildings or Manufactured (Mobile) Homes (each as defined in the applicable Flood Insurance Law) constituting Mortgaged Property showing whether or not such Buildings or Manufactured (Mobile) Homes are located in an area designated by the U.S. Federal Emergency Management Agency (or any successor agency) as having special flood hazards requiring flood insurance to be maintained pursuant to Flood Insurance Laws and, to the extent any such Buildings or Manufactured (Mobile) Homes are located in a special flood hazard area, (1) an executed copy of any notice about such special flood hazard area status and flood disaster assistance delivered to the Borrower by the Administrative Agent and (2) evidence of flood insurance required by Section 6.22(b), in form and substance reasonably satisfactory to Administrative Agent, it being understood that in any event the items required pursuant to this clause (h)(v) shall be required to be delivered at least twenty (20) Business Days prior to the day on which Mortgages are executed pursuant to this clause (h) with respect to each Mortgaged Property.

Notwithstanding the foregoing provisions of this definition or anything in this Agreement or any other Loan Document to the contrary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the foregoing definition shall not require, unless otherwise stated in this clause (A), the creation or perfection of pledges of, security interests in or taking other actions with respect to the following (collectively, the "**Excluded Assets**"),

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;(x) any Immaterial Real Property and (y) any Building (as defined in the applicable Flood Insurance Laws) or Manufactured (Mobile) Home (as defined in the applicable Flood Insurance Laws) with a value of less than $20,000,000, unless such Building or Manufactured (Mobile) Home is set forth on Schedule 6.11(b) hereto or otherwise constitutes a natural gas processing plant, compression station or terminal situated thereon;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Margin Stock and Equity Interests in any Person other than the Borrower and the Permitted Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;(x) commercial tort claims where the amount of damages claimed by the applicable Loan Party is less than $25,000,000 and (y) motor vehicles and other assets subject to certificates of title,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;any particular asset, if the pledge thereof or the security interest therein is restricted or prohibited by Law (including any requirement to obtain the consent of any governmental authority or third party (other than a Loan Party) unless such consent has been obtained) after giving effect to the anti-assignment provision of the Uniform Commercial Code (other than proceeds and receivables thereof), the assignment of which is expressly deemed effective under the Uniform Commercial Code notwithstanding such prohibition or restriction,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;any governmental licenses or state or local franchises, charters and authorizations, to the extent a security in any such license, franchise, charter or authorization is prohibited or restricted thereby after giving effect to the anti-assignment provision of the Uniform Commercial Code, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the Uniform Commercial Code notwithstanding such prohibition or restriction,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;letter of credit rights in an amount less than $25,000,000, except to the extent constituting a supporting obligation for other Collateral as to which perfection of the security interest in such other Collateral is accomplished by the filing of a Uniform Commercial Code financing statement (it being understood that no actions shall be required to perfect a security interest in letter of credit rights, other than the filing of a Uniform Commercial Code financing statement),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;any intent-to-use trademark application prior to the filing and acceptance of a "Statement of Use" or "Amendment to Allege Use" with respect thereto, to the extent, if any, that, and solely during the period, if any, in which, the grant of a security interest therein would impair the validity or enforceability, or result in the voiding or cancellation of such intent-to-use trademark application or any registration issuing therefrom (or any right, title or interest in or to any of the foregoing) under applicable federal Law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;other than the Material Project Documents, any lease, license, contract, agreement, asset or other general intangible or any property subject to a purchase money security interest, Capitalized Lease Obligation or similar arrangement, in each case permitted under this Agreement, to the extent that a grant of a security interest therein would violate or invalidate such lease, license, contract, agreement, asset or other general intangible, Capitalized Lease Obligations or purchase money arrangement or create a right of termination in favor of any other party thereto (other than a Loan Party) after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code, other than proceeds and receivables thereof, the

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assignment of which is expressly deemed effective under the Uniform Commercial Code notwithstanding such prohibition,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;any particular assets if the Administrative Agent and the Borrower reasonably agree in writing that the burden, cost or consequences (including any adverse tax consequences) of creating or perfecting such pledges or security interests therein is excessive in relation to the practical benefits to be obtained therefrom by the Lenders under the Loan Documents,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;any cash or other credit support posted to third parties in the ordinary course of business or otherwise maintained in fiduciary accounts or other accounts (including escrow accounts) maintained solely to secure obligations permitted under this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;deposit, securities or commodities accounts the balance of which consists of funds used for the payment of salaries and wages, workers compensation, employee benefits and similar expenses and taxes related thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;(i) no actions or filings in any non-U.S. jurisdiction or required by the laws of any non-U.S. jurisdiction shall be required in order to create, record, perfect or make enforceable any security interests in assets located or titled outside of the U.S., including any IP Rights registered in any non-U.S. jurisdiction, or to perfect such security interests (it being understood that there shall be no security agreements or pledge agreements governed under the laws of any non-U.S. jurisdiction), and the Borrower shall not be required to reimburse the Administrative Agent or any Lender for any such actions or filings outside of the United States, (ii) no actions other than the filing of a financing statement under the Uniform Commercial Code with respect to the Borrower or the Parent shall be required to perfect security interests in any Collateral consisting of notes or other evidence of Indebtedness, except to the extent set forth in <u>clause (d)</u> to the first paragraph of this definition, (iii) no actions other than the filing of Uniform Commercial Code financing statements and Control Agreement(s) shall be required to perfect security interest in any Collateral consisting of proceeds of other Collateral, (iv) no actions shall be required to perfect a security interest in letter of credit rights, other than the filing of a Uniform Commercial Code financing statement, (v) no landlord waivers, bailee letters, estoppels, warehouseman waivers or other collateral access or similar letters or agreements shall be required, (vi) no filings or registrations or other actions shall be required with respect to any As-Extracted Collateral (as defined in Article 8 of the UCC) and (vii) except to the extent that perfection and priority may be achieved by the filing of a financing statement under the Uniform Commercial Code with respect to the Borrower or any other Loan Party, the Loan Parties shall not be required to perfect or provide priority with respect to any security interest on any assets or property except as required pursuant to the Collateral and Guarantee Requirement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;the Collateral Agent (at the direction of the Administrative Agent, in its reasonable discretion) may grant extensions of time for the creation or perfection of security interests in, and Mortgages on, or obtaining of Mortgage Policies or other title insurance or taking other actions with respect to, particular assets (including extensions beyond the dates set forth in this definition) or any other compliance with the requirements of this definition where it reasonably determines, in consultation with the Borrower, that the creation or perfection of security interests and Mortgages on, or obtaining of Mortgage Policies or other title insurance or taking other actions, or any other compliance with the requirements of this definition cannot be accomplished without undue delay, burden or expense by the time or times at which it would otherwise be required by this Agreement or the Collateral Documents; *provided* that the Collateral Agent shall have received on or prior to the Closing Date (i) Uniform Commercial Code financing statements in appropriate form for filing under the Uniform Commercial

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Code in the jurisdiction of incorporation or organization of each Loan Party and (ii) to the extent applicable, any certificates or instruments representing or evidencing Equity Interests in or held by the Borrower (to the extent certificated) accompanied by instruments of transfer and stock powers undated and endorsed in blank (or confirmation in lieu thereof reasonably satisfactory to the Administrative Agent or its counsel such that certificates, powers and instruments have been sent for overnight delivery to the Collateral Agent or its counsel); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;Liens required to be granted from time to time pursuant to the Collateral and Guarantee Requirement shall be subject to exceptions and limitations set forth in this Agreement and the Collateral Documents.

"**Collateral Documents**" means, collectively, the Security and Depositary Agreement, the Control Agreements, the Pledge Agreement, the CP2/Matterhorn Consent Agreement, the O&M Consent Agreement, each of the collateral assignments, security agreements, pledge agreements, any other similar agreements delivered to the Administrative Agent or the Collateral Agent pursuant to the Collateral and Guarantee Requirement, <u>Section 4.01</u>, <u>Section 6.11</u>, <u>Section 6.12</u> or <u>Section 6.16</u>, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Administrative Agent or the Collateral Agent for the benefit of the Secured Parties to secure the Obligations. 

"**Commercial Consultant**" means Fiveways Consulting Services, Ltd and/or Subsidiaries and Affiliates of Fiveways Consulting Services, Ltd.

"**Commitment**" means, as to each Lender, its obligation to make a Term Loan to the Borrower hereunder, expressed as an amount representing the maximum principal amount of the Term Loan to be made by such Lender under this Agreement, as such commitment may be (a) reduced from time to time pursuant to <u>Section 2.04</u> and (b) reduced, increased or extended from time to time pursuant to (i) assignments by or to such Lender pursuant to an Assignment and Assumption, (ii) an Incremental Amendment, (iii) a Refinancing Amendment or (iv) an Extension.

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

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

"**Committed Shipper**" means Venture Global CP2 LNG, LLC.

"**Compensation Period**" has the meaning set forth in <u>Section 2.10(c)(ii)</u>.

"**Compliance Certificate**" means a certificate substantially in the form of <u>Exhibit C-1</u>.

"**Compression System Installation Contract**" means that certain Modular Compression System Installation Contract, dated as of June 30, 2023, by Venture Global Midstream Holdings, LLC, as assigned to the Borrower, and the Compression System Installation Contractor.

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"**Compression System Installation Contractor**" means Solar Turbines Incorporated.

"**Contractual Obligation**" means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.

"**Construction Account**" is defined in the Security and Depositary Agreement.

"**Construction Budget**" means a budget setting forth all expected Project Costs through ISD delivered to the Administrative Agent on the Closing Date pursuant to <u>Section 4.01(n)</u>, as such budget may be updated and modified in accordance with the terms of this Agreement.

"**Construction Contractors**" means Troy Construction, LLC, and MPG Pipeline Contractors, LLC.

"**Construction Contracts**" means (i) that certain Blackfin Pipeline Modified Lump Sum Contract, dated as of January 26, 2024, effective as of May 18, 2023 between the Borrower and MPG Pipeline Contractors, LLC and (ii) that certain Blackfin Sheridan Lateral Pipeline Construction and Installation Contract, dated as of January 26, 2024, effective as of May 18, 2023 between the Borrower and Troy Construction, LLC.

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

"**Control Agreement**" means one or more control agreements entered into by the Borrower or any other Loan Party (as applicable), the Collateral Agent and the securities intermediary or depositary bank party thereto (as applicable), which (a) provides that the securities intermediary or depositary bank party thereto (as applicable) shall comply with any entitlement order or other instruction originated by the Borrower or such other Loan Party (as applicable), and, upon delivery of written notice that an Event of Default has occurred, the Collateral Agent (but not, after such notice (unless rescinded), the Borrower) and (b) is otherwise sufficient to establish the Collateral Agent's control per Section 9-104 or 9-106 (as applicable) of the UCC.

"**Conversion**" has the meaning set forth in the TLA/Revolver Credit Agreement.

"**Conversion Date**" has the meaning set forth in the TLA/Revolver Credit Agreement.

"**CP2/Matterhorn Consent Agreement**" means that certain Consent to Collateral Assignment, dated as of the date hereof, by and between Transporter, the Committed Shipper and the Borrower, substantially in the form attached hereto as <u>Exhibit F</u>.

"**CP2 TSA**" has the meaning set forth in the definition of the term "Blackfin Capacity Lease".

"**Credit Agreement Refinancing Indebtedness**" means (a) Permitted First Priority Refinancing Debt, (b) Permitted Second Priority Refinancing Debt, (c) Permitted Unsecured Refinancing Debt or (d) other Indebtedness incurred pursuant to a Refinancing Amendment or a Permitted Debt Exchange, in each case, issued, incurred or otherwise obtained (including by means of the modification, replacement, refunding, repurchase, extension or renewal of existing Indebtedness) in exchange for, or to modify, extend, renew, replace, refund, repurchase, retire or refinance, in whole or part, existing Loans, or any

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then-existing Credit Agreement Refinancing Indebtedness ("**Refinanced Debt**"); *provided* that (i) subject to the Inside Maturity Basket, such Indebtedness does not mature prior to the date that is the Maturity Date applicable to the Refinanced Debt or have a Weighted Average Life to Maturity shorter than the Refinanced Debt, and (ii) such Refinanced Debt shall be repaid, repurchased, refunded, retired, defeased or satisfied and discharged, all accrued interest, fees, premiums (including tender premiums, if any) and penalties in connection therewith shall be paid, and all commitments thereunder terminated, on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained.

"**Cumulative Retained Available Cash Amount**" means, at any date, an amount, not less than zero, equal to, the *sum* of the cumulative Quarterly Retained Available Cash Amount for all Excess Cash Flow Periods ending after the Closing Date and prior to such date.

"**Daily Simple SOFR**" means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent (acting at the direction of the Required Lenders) in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining "Daily Simple SOFR" for syndicated business loans; *provided* that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent (acting at the direction of the Required Lenders) and the Borrower may establish another convention in their reasonable discretion that is administratively feasible as determined by the Administrative Agent.

"**Date Certain**" has the meaning set forth in the TLA/Revolver Credit Agreement.

"**Debt Fund Affiliate**" means any Affiliate of a Sponsor (other than the Parent and its Subsidiaries) that is primarily engaged in, or advises funds or other investment vehicles that are engaged in, making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit or securities in the ordinary course and with respect to which such Sponsor does not, directly or indirectly, possess the power to direct or cause the direction of the investment policies of any such Affiliate. Notwithstanding the foregoing, in no event shall a Natural Person be a Debt Fund Affiliate.

"**Debt Service**" means, for any period, the *sum* of all scheduled cash interest and scheduled principal amortization payments (if any), any ordinary course payments, the current portion of any commitment fees and letter of credit fees and expenses, in each case, due and payable by the Borrower during such period in respect of the Senior Secured Credit Facilities, any Incremental Equivalent Debt and any Interest Rate Hedge Agreements *less* any ordinary course payments received by the Borrower during such period pursuant to Interest Rate Hedge Agreements. For the avoidance of doubt, Debt Service shall not include (i) any principal or interest due and payable with respect to any voluntary or mandatory prepayments pursuant to the Senior Secured Credit Facilities or any Incremental Equivalent Debt, (ii) any scheduled bullet payment required to be paid on the final maturity date of the Senior Secured Credit Facilities and any Incremental Equivalent Debt, (iii) any termination, liquidation or other non-ordinary course payments paid by the Borrower during such period pursuant to Interest Rate Hedge Agreements, (iv) any repayments of any revolving loans, letter of credit loans and letter of credit reimbursement obligations and (v) any amounts required to be transferred to the Debt Service Reserve Accounts (or amounts paid from proceeds in the Debt Service Reserve Accounts or from proceeds of any DSR L/Cs credited thereto).

"**Debt Service Coverage Ratio**" means, for any Test Period, the ratio of (a) the Cash Flow Available for Debt Service to (b) Debt Service; *provided* that, for purposes of this definition (i) Cash Flow Available for Debt Service and Debt Service, in each case as of the last day of the first full fiscal

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quarter ending after the Conversion Date shall equal the Cash Flow Available for Debt Service or Debt Service, as applicable, for the fiscal quarter ending on such date multiplied by four (4), (ii) Cash Flow Available for Debt Service and Debt Service, in each case as of the last day of the second full fiscal quarter ending after the Conversion Date shall equal the Cash Flow Available for Debt Service or Debt Service, as applicable, for the two (2) fiscal quarters ending on such date multiplied by two (2), and (iii) Cash Flow Available for Debt Service and Debt Service, in each case as of the last day of the third full fiscal quarter ending after the Conversion Date shall equal Cash Flow Available for Debt Service or Debt Service, as applicable, for the three (3) fiscal quarters ending on such date multiplied by 4/3.

"**Debt Service Reserve Accounts**" is defined in the Security and Depositary Agreement.

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

"**Debt to Equity Ratio**" means, as of any date of determination, the ratio of (a) the aggregate principal amount of Indebtedness under Senior Secured Credit Facilities and Incremental Equivalent Debt outstanding to (b) the aggregate Equity Contributions received by the Borrower through such date.

"**Declined Proceeds**" has the meaning set forth in <u>Section 2.03(b)(vi)</u>.

"**Default**" means any event or condition specified in <u>Section 8.01</u> that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default.

"**Default Rate**" means an interest rate equal to (a) the Base Rate *plus* (b) the Applicable Rate, if any, applicable to Term Loans that are Base Rate Loans *plus* (c) two percent (2.0%) *per annum*; *provided* that with respect to the overdue principal or interest in respect of a Term SOFR Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan, *plus* two percent (2.0%) *per annum*, in each case to the fullest extent permitted by applicable Laws.

"**Defaulting Lender**" means any Lender whose acts or failure to act, whether directly or indirectly, cause it to meet any part of the definition of "Lender Default."

"**Depositary**" means Sumitomo Mitsui Banking Corporation, in its capacity as depositary bank, or another bank selected by the Borrower and reasonably acceptable to the Administrative Agent.

"**Designated Equity Contribution**" has the meaning set forth in <u>Section 8.05(a)</u>.

"**Discount Prepayment Accepting Lender**" has the meaning set forth in <u>Section 2.03(a)(iv)(B)(2)</u>.

"**Discount Range**" has the meaning set forth in <u>Section 2.03(a)(iv)(C)(1)</u>.

"**Discount Range Prepayment Amount**" has the meaning set forth in <u>Section 2.03(a)(iv)(C)(1)</u>.

"**Discount Range Prepayment Notice**" means a written notice of a Borrower Solicitation of Discount Range Prepayment Offers made pursuant to <u>Section 2.03(a)(iv)(C)</u> substantially in the form of <u>Exhibit I-4</u>.

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"**Discount Range Prepayment Offer**" means the irrevocable written offer by a Lender, substantially in the form of <u>Exhibit I-5</u>, submitted in response to an invitation to submit offers following the Auction Agent's receipt of a Discount Range Prepayment Notice.

"**Discount Range Prepayment Response Date**" has the meaning set forth in <u>Section 2.03(a)(iv)(C)(1)</u>.

"**Discount Range Proration**" has the meaning set forth in <u>Section 2.03(a)(iv)(C)(3)</u>.

"**Discounted Prepayment Determination Date**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(3)</u>.

"**Discounted Prepayment Effective Date**" means in the case of a Borrower Offer of Specified Discount Prepayment, Borrower Solicitation of Discount Range Prepayment Offer or Borrower Solicitation of Discounted Prepayment Offer, five (5) Business Days following the Specified Discount Prepayment Response Date, the Discount Range Prepayment Response Date or the Solicited Discounted Prepayment Response Date, as applicable, in accordance with <u>Section 2.03(a)(iv)(B)(1)</u>, <u>Section 2.03(a)(iv)(C)(1)</u> or <u>Section 2.03(a)(iv)(D)(1)</u>, respectively, unless a shorter period is agreed to between the Borrower, the Auction Agent and the Administrative Agent, if the Administrative Agent is not the Auction Agent.

"**Discounted Term Loan Prepayment**" has the meaning set forth in <u>Section 2.03(a)(iv)(A)</u>.

"**Disposition**" or "**Dispose**" means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction and any sale or issuance of Equity Interests in a Subsidiary) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith; *provided* that "**Disposition**" and "**Dispose**" shall not be deemed to include any issuance by the Borrower or Parent of any of their respective Equity Interests to another Person.

"**Disqualified Equity Interests**" means any Equity Interest that, by its terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control, event of loss, or asset sale or event of default so long as any rights of the holders thereof upon the occurrence of a change of control, event of loss, asset sale or event of default shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is redeemable at the option of the holder thereof (other than solely for Qualified Equity Interests and other than as a result of a change of control, event of loss, asset sale or event of default so long as any rights of the holders thereof upon the occurrence of a change of control, event of loss, asset sale or event of default shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is ninety-one (91) days after the Latest Maturity Date at the time of issuance of such Equity Interests; *provided* that if such Equity Interests are issued pursuant to a plan for the benefit of future, current or former employees, directors, officers, managers or consultants of the Borrower (or any Parent Company thereof) or by any such plan to such employees, such Equity Interests shall not constitute Disqualified Equity Interests solely because it may

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be required to be repurchased by the Borrower in order to satisfy applicable statutory or regulatory obligations.

"**Disqualified Lenders**" means (a) those Persons that are engaged as principals primarily in private equity, mezzanine financing or venture capital and certain banks, financial institutions, other institutional lenders and other entities, in each case, identified by the Borrower or a Sponsor to the Administrative Agent in writing prior to the Closing Date (which list may be updated on or after the Closing Date with the Administrative Agent's consent (such consent not to be unreasonably withheld, conditioned or delayed)), (b) competitors of the Parent or the Borrower separately identified by the Borrower or a Sponsor to the Administrative Agent in writing from time to time and (c) as to any entity referenced in each case of clauses (a) and (b) (the "**Primary Disqualified Lender**"), any of such Primary Disqualified Lender's known Affiliates or Affiliates identified in writing to the Administrative Agent from time to time or otherwise readily identifiable as such by name, but excluding any Affiliate that is primarily engaged in, or that advises funds or other investment vehicles that are engaged in, making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit or securities in the ordinary course and with respect to which the Primary Disqualified Lender does not, directly or indirectly, possess the power to direct or cause the direction of the investment policies of such entity; *provided* that no updates to the Disqualified Lender list shall be deemed to retroactively disqualify any parties that have previously acquired an assignment or participation (or whose assignment or participation is pending) in respect of the Loans from continuing to hold or vote such previously acquired assignments and participations on the terms set forth herein for Lenders that are not Disqualified Lenders. Any supplement to the list of Disqualified Lenders pursuant to clause (b) or (c) above shall be made by the Borrower to the Administrative Agent in writing (including by email) and such supplement shall take effect the same Business Day such notice is received by the Administrative Agent. The list of Disqualified Lenders shall be made available to any Lender upon request to the Administrative Agent, subject to customary confidentiality requirements.

"**Distressed Person**" has the meaning set forth in the definition of "Lender-Related Distress Event".

"**Distribution Conditions**" is defined in the Security and Depositary Agreement.

"**Distribution Reserve Account**" is defined in the Security and Depositary Agreement.

"**Distribution Reserve Prepayment Amount**" has the meaning set forth in <u>Section 2.03(b)(i)(B)</u>.

"**Dollar**" and "**$**" mean lawful money of the United States.

"**Domestic Subsidiary**" means any Subsidiary that is organized under the Laws of the United States, any state thereof or the District of Columbia.

"**Drawstop Equity Contributions**" means any Equity Contribution by the Parent in addition to the Required Equity during any period in which the Company is not otherwise able to meet the conditions in set forth in Section 4.02 in the TLA/Revolver Credit Agreement with respect to the borrowing of loans or extensions of credit thereunder.

"**DSR L/C**" means an irrevocable standby letter of credit issued by an Acceptable Bank (a) naming the Administrative Agent as the beneficiary, (b) that has a stated maturity date that is not earlier than twelve (12) months after the date of issuance of such letter of credit, and (c) that is drawable if (i) it is not renewed or replaced at least thirty (30) days prior to its stated maturity date or (ii) a Negative Credit

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Event occurs with respect to the issuer and a replacement letter of credit has not been obtained from an Acceptable Bank within the earlier of (x) thirty (30) days after the downgrade giving rise to such Negative Credit Event and (y) two Business Days prior to its stated maturity date. 

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

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

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

"**Eligible Assignee**" has the meaning set forth in <u>Section 10.07(a)</u>.

"**Environment**" means the indoor or outdoor environment, including indoor air, ambient air, surface water, groundwater, drinking water, land surface, subsurface strata, and natural resources such as wetlands, flora and fauna.

"**Environmental Laws**" means any applicable Law relating to the prevention of pollution or the protection, cleanup or restoration of the Environment and natural resources or the protection of human health and safety as it relates to exposure to Hazardous Materials, including any applicable Laws relating to the generation, use, handling, transportation, storage, treatment, disposal, Release, or threatened Release of, or exposure to, any Hazardous Materials.

"**Environmental Liability**" means any liability, contingent or otherwise (including any liability for damages, costs of investigation and remediation, fines, or penalties), of the Loan Parties directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, or (d) the Release or threatened Release of any Hazardous Materials into the Environment.

"**Environmental Permit**" means any Permit required under any Environmental Law.

"**Equity Contribution**" means a contribution of capital in the form of equity, or subordinated Indebtedness, regardless of the source of such contributions, which one or more parent companies of the Borrower provide, directly or indirectly, to the Borrower.

"**Equity Interests**" means, with respect to any Person, all of the shares, interests, rights, participations or other equivalents (however designated) of capital stock of (or other ownership or profit interests or units in) such Person and all of the warrants, options or other rights for the purchase, acquisition or exchange from such Person of any of the foregoing (including through convertible securities).

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"**ERISA**" means the Employee Retirement Income Security Act of 1974, as amended from time to time.

"**ERISA Affiliate**" means (a) any trade or business (whether or not incorporated) that, together with a Loan Party, is treated as a single employer under Section 414(b) or (c) of the Code, or solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code or (b) any entity (whether or not incorporated) that is under common control within the meaning of Section 4001(a)(14) of ERISA with a Loan Party.

"**ERISA Event**" means (a) a Reportable Event; (b) a withdrawal by a Loan Party or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by a Loan Party or any ERISA Affiliate from a Multiemployer Plan; (d) the filing by the PBGC of a notice of intent to terminate any Pension Plan, the treatment of a Pension Plan or Multiemployer Plan amendment as a termination under Section 4041 or Section 4041A of ERISA, respectively, or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of or the appointment of a trustee to administer any Pension Plan or Multiemployer Plan; (f) with respect to a Pension Plan, the failure to satisfy the minimum funding standards (within the meaning of Section 412 of the Code or Section 302 of ERISA) applicable to such Pension Plan, whether or not waived; or (g) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon a Loan Party or any ERISA Affiliate.

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

"**Event of Abandonment**" means (a) an announcement by the Borrower of a decision to abandon or indefinitely defer, the construction or operation of all or substantially all of the Project Facilities, (b) the suspension or abandonment of all or substantially all activities in respect of the Project for more than sixty (60) consecutive days or three hundred sixty-five (365) non-consecutive days or (c) the Borrower shall make any filing with a Governmental Authority giving notice of the intent or requesting authority to abandon the operation of the Project for any reason; *provided* that, any suspension or delay in construction or operation of the Project caused by a Force Majeure event or casualty event shall not constitute an "**Event of Abandonment**" so long as the Borrower is taking commercially reasonable actions to overcome or mitigate the effects of the cause of the suspension or cessation so that maintenance and/or operations, as the case may be, can be resumed.

"**Event of Default**" has the meaning set forth in <u>Section 8.01</u>.

"**Excess Cash Flow Period**" means each fiscal quarter commencing with the first full fiscal quarter following the Closing Date.

"**Exchange Act**" means the Securities Exchange Act of 1934, as amended.

"**Excluded Assets**" has the meaning set forth in the definition of "Collateral and Guarantee Requirement".

"**Excluded Swap Obligation**" means, with respect to any Person, (a) any Swap Obligation if, and to the extent that, all or a portion of the Guarantee of such Person of, or the grant by such Person of a

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security interest to secure, such Swap Obligation (or any Guarantee 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) (i) by virtue of such Person's failure to constitute an "eligible contract participant," as defined in the Commodity Exchange Act and the regulations thereunder (determined after giving effect to any applicable keepwell, support, or other agreement for the benefit of such Person and any and all applicable Guarantees of such Person's Swap Obligations by other Loan Parties), at the time the Guarantee of (or grant of such security interest by, as applicable) such Person becomes or would become effective with respect to such Swap Obligation or (ii) in the case of a Swap Obligation that is subject to a clearing requirement pursuant to section 2(h) of the Commodity Exchange Act, because such Person is a "financial entity," as defined in section 2(h)(7)(C) of the Commodity Exchange Act, at the time the Guarantee of (or grant of such security interest by, as applicable) such Person becomes or would become effective with respect to such Swap Obligation or (b) any other Swap Obligation designated as an "Excluded Swap Obligation" of such Person as specified in any agreement between the relevant Loan Parties or their respective Subsidiaries and the relevant Hedge Provider applicable to such Swap Obligations. If a Swap Obligation arises under a master agreement governing more than one Hedging Agreement, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to the Hedging Agreement for which such Guarantee or security interest is or becomes excluded in accordance with the first sentence of this definition.

"**Excluded Taxes"** means any of the following Taxes imposed on or with respect to any Agent or any Lender, (a) Taxes imposed on or measured by its net income (however denominated) and franchise Taxes, and branch profits Taxes, in each case, (i) imposed by a jurisdiction as a result of such recipient being organized in or having its principal office (or, in the case of any Lender, its applicable Lending Office) in such jurisdiction (or any political subdivision thereof), or (ii) that are Other Connection Taxes, (b) Taxes attributable to a Lender's or the Administrative Agent's failure to comply with <u>Section 3.01(d)</u> or <u>Section 3.01(f)</u>, (c) in the case of any Lender, any U.S. federal withholding Tax that is imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a Law in effect on the date on which (y) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under <u>Section 3.07</u>) or (z) such Lender changes its applicable Lending Office, except to the extent such Lender (or its assignor, if any) was entitled immediately prior to the time of designation of a new Lending Office (or assignment) to receive additional amounts with respect to such withholding Tax pursuant to <u>Section 3.01</u>, (d) any Taxes imposed under FATCA.

"**Existing Term Loan Tranche**" has the meaning set forth in <u>Section 2.14(a)</u>.

"**Expansion Capital Expenditures**" means Capital Expenditures expended in connection with improvements or additions to the Project.

"**Extended Term Loans**" has the meaning set forth in <u>Section 2.14(a)</u>.

"**Extending Term Lender**" has the meaning set forth in <u>Section 2.14(b)</u>.

"**Extension**" means the establishment of an Extension Series by amending a Loan pursuant to <u>Section 2.14</u> and the applicable Extension Amendment.

"**Extension Amendment**" has the meaning set forth in <u>Section 2.14(c)</u>.

"**Extension Election**" has the meaning set forth in <u>Section 2.14(b)</u>.

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"**Extension Request**" has the meaning set forth in <u>Section 2.14(a)</u>.

"**Extension Series**" has the meaning set forth in <u>Section 2.14(a</u>).

"**Facility**" or "**Facilities**" means the Initial Term Loans, a given Class of Incremental Term Loans, a given Refinancing Series of Refinancing Term Loans or a given Extension Series of Extended Term Loans, as the context may require.

"**Fair Market Value**" means, with respect to any asset or liability, the fair market value of such asset or liability as determined by the Borrower in good faith.

"**FATCA**" means Sections 1471 through 1474 of the Code (including, for the avoidance of doubt, any agreements entered into pursuant to Section 1471(b)(1) of the Code), as of the Closing Date (and any amended or successor version thereof that is substantively comparable and not materially more onerous to comply with), any current or future Treasury Regulations or other official administrative guidance promulgated thereunder, and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities entered into in connection with the implementation of the foregoing.

"**Federal Funds Rate**" means, for any day, the weighted average of the rates on overnight federal funds transactions with members of the NYFRB arranged by Federal funds brokers, shall set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the federal funds effective rate; *provided* that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published for any day that is a Business Day, the average of the quotations for the day for such transactions as determined by the Administrative Agent; *provided* that if such rate shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement.

"**Fee Letters**" mean (i) that certain Arranger Fee Letter dated September 23, 2025, between the Borrower and the Lead Arrangers, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, (ii) that certain Structuring Fee Letter dated September 23, 2025, between the Borrower and MUFG, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, (iii) that certain Administrative Agent Fee Letter dated September 23, 2025, between the Borrower and the Administrative Agent, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, (iv) that certain Collateral Agent Fee Letter, dated as of the Closing Date, between the Borrower and the Collateral Agent, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, (v) that certain Depositary Fee Letter, dated as of the Closing Date, between the Borrower and the Depositary, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, (vi) that certain Intercreditor Agent Fee Letter, dated as of the Closing Date, between the Borrower and the Intercreditor Agent, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time and (vii) that certain Upfront Fee Letter, dated as of the Closing Date, between the Borrower and the Lenders party thereto, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.

"**Financial Covenant**" means the covenant of the Borrower set forth in <u>Section 7.09</u>.

"**Financial Incurrence Tests**" has the meaning set forth in <u>Section 1.08</u>.

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"**Financing Costs**" means interest, scheduled principal (if any), fees (including commitment fees), all other costs, charges, expenses and all other amounts associated with this Agreement or any other Loan Document including any applicable amounts payable to any Secured Party, legal and consultant fees and expenses, financial advisory fees, management and agency fees, taxes and other out-of-pocket expenses payable by or on behalf of the Borrower under or in connection with the Loan Documents.

"**First Lien Intercreditor Agreement**" means the Intercreditor Agreement, dated as of hereof, substantially in the form of <u>Exhibit G</u> hereto (subject to amendments, supplements and other modifications from time to time thereto to which the Collateral Agent is authorized to enter into) among the Borrower, MUFG Bank, Ltd., as Intercreditor Agent, the Collateral Agent, the Administrative Agent, MUFG as administrative agent under the TLA/Revolver Credit Agreement, and each other Secured Party from time to time party thereto (including one or more collateral agents or representatives for the holders of Incremental Term Loans, Permitted First Priority Refinancing Debt, Incremental Equivalent Debt or Secured Hedging Obligations, as applicable, that are intended to be secured on a *pari passu* basis in right of priority to the Obligations). Wherever in this Agreement, an Other Debt Representative is required to become party to the First Lien Intercreditor Agreement, if the related Indebtedness is the initial Indebtedness incurred by the Borrower thereof to be secured by a Lien *pari passu* in right of priority with the Liens securing the Obligations, then the Loan Parties, the Collateral Agent and the Other Debt Representative for such Indebtedness shall execute and deliver the First Lien Intercreditor Agreement or a joinder thereto.

"**First Lien Net Leverage Ratio**" means the ratio of (a) Indebtedness for borrowed money as reflected on the balance sheet of the Borrower that is secured by Parity Lien (but excluding, for the avoidance of doubt, any debt to the extent secured by a Junior Lien), *minus* unrestricted cash and Cash Equivalents to (b) Adjusted EBITDA for the most recent four quarter period for which financial statements are available. Notwithstanding the foregoing, Adjusted EBITDA shall be calculated on an annualized basis using (i) for the first full fiscal quarter ending after the Closing Date, Adjusted EBITDA multiplied by 4, (ii) for the second full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first two full fiscal quarters ending after the Closing Date multiplied by 2 and (iii) for the third full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first three full fiscal quarters ending after the Closing Date multiplied by 4/3.

"**Fitch**" means Fitch Ratings, Inc. or any successor to the rating agency business thereof.

"**Fixed Amounts**" has the meaning set forth in <u>Section 1.08</u>.

"**Flood Insurance Law**" shall mean, collectively, (a) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (b) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (c) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto, (d) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (e) Biggert-Waters Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor thereto.

"**Floor**" means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to Term SOFR. For the avoidance of doubt, the initial Floor for Term SOFR shall be zero percent (0.0%).

"**Force Majeure**" has the meaning given to such term in the Construction Contracts and also means any other force majeure event or analogous occurrence under any Material Project Document.

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"**FRB**" means the Board of Governors of the Federal Reserve System of the United States.

"**Free and Clear Incremental Amount**" means $200,000,000 *minus* the amount of Indebtedness incurred under the TLA/Revolver Credit Agreement pursuant to the Free and Clear Incremental Amount (as defined in the TLA/Revolver Credit Agreement) thereunder.

"**Fund**" means any Person (other than a Natural Person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course.

"**GAAP**" means generally accepted accounting principles in the United States of America, as in effect from time to time; *provided*, *however*, that (i) if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change in accounting principles or change as a result of the adoption or modification of accounting policies (including, but not limited to, the impact of Accounting Standards Update 2016-12, revenue from Contracts with Customers (Topic 606) or similar revenue recognition policies or any change in the methodology of calculating reserves for returns, rebates and other chargebacks) occurring after the Closing Date in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notify the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith, (ii) GAAP shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under FASB ASC Topic 825 (or any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower at "**fair value,**" as defined therein, and Indebtedness shall be measured at the aggregate principal amount thereof, and (iii) the accounting for operating leases and finance or capital leases under GAAP as in effect on December 31, 2019 (including, without limitation, FASB Accounting Standards Codification 840) shall apply for the purposes of determining compliance with the provisions of this Agreement, including the definition of Capitalized Leases and obligations in respect thereof.

"**Governmental Authority**" means any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, administrative tribunal, central bank or other entity, exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

"**Granting Lender**" has the meaning set forth in <u>Section 10.07(i)</u>.

"**Guarantee**" means, as to any Person, without duplication, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation payable or performable by another Person (the "primary obligor") in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance of such Indebtedness or other monetary obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other monetary

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obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness or other monetary obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien); *provided* that the term "Guarantee" shall not include endorsements for collection or deposit, in either case in the ordinary course of business, or customary and reasonable indemnity obligations in effect on the Closing Date or entered into in connection with any acquisition or disposition of assets permitted under this Agreement (other than such obligations with respect to Indebtedness). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or is then in effect or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term "**Guarantee**" as a verb has a corresponding meaning.

"**Guarantors**" means the Parent and the Permitted Subsidiary.

"**Guaranty**" means, the guaranty of the Obligations by the Guarantors pursuant to the Security and Depositary Agreement.

"**Hazardous Materials**" means all materials, pollutants, contaminants, chemicals, compounds, constituents, substances or wastes, in any form, including petroleum or petroleum distillates, explosives, radioactive materials, asbestos or asbestos-containing materials, polychlorinated biphenyls, per- and polyfluoroalkyl substances, radon gas, toxic mold, or other materials, substances or wastes that are regulated, or for which liability may be imposed, pursuant to Environmental Law because of such materials', substances' or wastes' dangerous, deleterious, hazardous or toxic properties, qualities or characteristics.

"**Hedge Provider**" means any Person that enters into or accedes to the First Lien Intercreditor Agreement and that (a) is an Agent, a Lead Arranger or a Lender or an Affiliate of an Agent, a Lead Arranger or a Lender that enters into a Secured Hedging Agreement, in its capacity as a party thereto, (b) was an Agent, a Lead Arranger or a Lender or an Affiliate of an Agent, a Lead Arranger or a Lender at the time it entered into a Secured Hedging Agreement, in its capacity as a party thereto or (c) is otherwise a counterparty to any Secured Hedging Agreement and has been designated as a Hedge Provider by the Borrower in a writing delivered to the Administrative Agent and the Collateral Agent.

"**Hedging Agreement**" means any agreement (other than this Agreement) in respect of any interest rate swap, forward rate transaction, commodity swap, commodity option, interest rate option, interest or commodity cap, interest or commodity floor, interest or commodity collar transaction, currency swap agreement, currency future or option contract (including deal contingent hedge), derivative or hedging transaction or other similar agreements (or any combination thereof).

"**Identified Participating Lenders**" has the meaning set forth in <u>Section 2.03(a)(iv)(C)(3)</u>.

"**Identified Qualifying Lenders**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(3)</u>.

"**Immaterial Real Property**" means on any date of determination, any real property other than Material Real Property.

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"**Incremental Amendment**" has the meaning set forth in <u>Section 2.12(f)</u>.

"**Incremental Availability Amount**" has the meaning set forth in <u>Section 2.12(d)(iii)(C)</u>.

"**Incremental Equivalent Debt**" has the meaning set forth in <u>Section 7.03(n)</u>.

"**Incremental Equivalent First Lien Debt**" has the meaning set forth in <u>Section 7.03(n)</u>.

"**Incremental Term Commitments**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**Incremental Term Facility**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**Incremental Term Facility Closing Date**" has the meaning set forth in <u>Section 2.12(d)</u>.

"**Incremental Term Loan Request**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**Incremental Term Loan**" has the meaning set forth in <u>Section 2.12(b)</u>.

"**Incurrence Based Amounts**" has the meaning set forth in <u>Section 1.08</u>.

"**Incurrence-Based Incremental Amount**" has the meaning set forth in <u>Section 2.12(d)(iii)(C)</u>.

"**Indebtedness**" means, as to any Person at a particular time, without duplication, all of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;net obligations of such Person under any Hedging Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all obligations of such Person to pay the deferred purchase price of property or services (other than (i) trade accounts and accrued expenses payable in the ordinary course of business, (ii) any earn-out obligation until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP and (iii) accruals for payroll and other liabilities accrued in the ordinary course);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements and mortgage, industrial revenue bond, industrial development bond and similar financings), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all Attributable Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;all obligations of such Person in respect of Disqualified Equity Interests;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;if and to the extent that the foregoing would constitute indebtedness or a liability in accordance with GAAP; *provided* that Indebtedness of any Parent Company of the Borrower appearing on the balance sheet of the Borrower solely by reason of push-down accounting under GAAP shall be excluded; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to the extent not otherwise included above, all Guarantees of such Person in respect of any of the foregoing.

"**Indemnified Liabilities**" has the meaning set forth in <u>Section 10.05</u>.

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

"**Indemnitees**" has the meaning set forth in <u>Section 10.05</u>.

"**Independent Consultants**" has the meaning set forth in <u>Section 10.21</u>.

"**Independent Engineer**" means Lummus Consultants International, Inc. and/or Subsidiaries and Affiliates of Lummus Consultants International, Inc.

"**Information**" has the meaning set forth in <u>Section 10.08</u>.

"**Initial Debt Service Reserve Account**" is defined in the Security and Depositary Agreement.

"**Initial Term Borrowing**" means the Borrowing of Initial Term Loans on the Closing Date.

"**Initial Term Commitment**" means, as to each Lender, its obligation to make an Initial Term Loan to the Borrower pursuant to <u>Section 2.01</u> in an aggregate amount not to exceed the amount set forth opposite such Lender's name in <u>Schedule 1.01A</u> under the caption "Initial Term Commitment" or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as

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such amount may be adjusted from time to time in accordance with this Agreement (including <u>Section 2.12</u>). The initial aggregate amount of the Initial Term Commitment is $1,050,000,000.

"**Initial Term Loans**" means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to <u>Section 2.01</u>.

"**Inside Maturity Basket**" shall mean up to $50,000,000 in an aggregate principal amount of, at the Borrower's option, Incremental Term Facilities, Incremental Equivalent Debt and any Permitted Refinancing in respect of any of the foregoing.

"**Insurance Consultant**" means Moore McNeil, LLC and/or Subsidiaries and Affiliates of Moore McNeil, LLC.

"**Insurance/Loss Proceeds Account**" is defined in the Security and Depositary Agreement.

"**Insurance Policies**" has the meaning set forth in <u>Section 6.22</u>.

"**Intercreditor Agent**" means MUFG Bank, Ltd., in its capacity as intercreditor agent under the First Lien Intercreditor Agreement.

"**Intercreditor Agreements**" means the First Lien Intercreditor Agreement and any Junior Lien Intercreditor Agreement, collectively, in each case to the extent in effect.

"**Interest Expense**" means, with respect to the Borrower for any period, the sum of (a) gross interest expense and letter of credit fees and commissions of the Borrower for such period on a consolidated basis, including to the extent included in interest expense under GAAP: (i) the amortization of debt discounts, (ii) the amortization of all fees (including fees with respect to Interest Rate Hedge Agreements) payable in connection with the incurrence of Indebtedness to the extent included in interest expense under GAAP, (iii) the portion of any payments or accruals with respect to Capitalized Lease Obligations allocable to interest expense and (iv) redeemable preferred stock dividend expenses, (b) capitalized interest of the Borrower and (c) cash dividends and similar distributions made in cash in respect of Disqualified Equity Interests of the Borrower. For purposes of the foregoing, gross interest expense shall be determined after giving effect to any net payments made or received and costs incurred by the Borrower with respect to Interest Rate Hedge Agreements during such period.

"**Interest Payment Date**" means, (a) as to any Term SOFR Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date of the Facility under which such Loan was made; *provided* that if any Interest Period for a Term SOFR Loan exceeds three (3) months, the respective dates that fall every three (3) months after the beginning of such Interest Period shall also be Interest Payment Dates and (b) as to any Base Rate Loan, the last Business Day of each calendar quarter (commencing with the first full calendar quarter ending after the Closing Date) (*provided*, that, to the extent any Base Rate Loans are made on the Closing Date, the first Interest Payment Date shall be October 31, 2025) and the Maturity Date of the Facility under which such Loan was made.

"**Interest Period**" means, as to each Term SOFR Loan, the period commencing on the date such Term SOFR Loan is disbursed or converted to or continued as a Term SOFR Loan and ending on the date one (1), three (3) or six (6) months thereafter (subject to the availability thereof) or, to the extent agreed by each Lender of such Term SOFR Loan, twelve (12) months or a shorter period thereafter (or, to the extent agreed by the Administrative Agent, solely in the case of the first period commencing on the

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Closing Date, October 31, 2025, with interest calculated based on a 1-month Interest Period for a Term SOFR Loan), as selected by the Borrower in its Committed Loan Notice; *provided* that:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any Interest Period (other than an Interest Period having a duration of less than one (1) month) that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;no Interest Period shall extend beyond the Maturity Date of the Facility under which such Loan was made.

"**Interest Rate Hedge Agreements**" means any Hedging Agreement entered into by the Borrower <u>and any Hedge Provider</u> for the purpose of hedging against the Borrower's exposure to interest rates and not for speculative purposes.

"**Investment**" means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests or debt or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person excluding, in the case of the Borrower, intercompany loans, advances, or Indebtedness having a term not exceeding three hundred sixty-four (364) days (inclusive of any roll-over or extensions of terms) and made in the ordinary course of business or (c) the purchase or other acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person. For purposes of covenant compliance, the amount of any Investment at any time shall be the amount actually invested (measured at the time made), without adjustment for subsequent increases or decreases in the value of such Investment.

"**IP Rights**" means all ownership interests in and rights to license or possess the rights to use, exploit, enforce or prevent the use of all of the trademarks, service marks, trade names, domain names, copyrights, patents, patent rights, technology, software, know how, trade secrets, inventions, database rights, design rights and other intellectual property rights, including rights in all registrations thereof and applications for registration therefor.

"**ISD**" means (i) with respect to the Project, the first date on which the Tranche I Elected In-Service Date and the Tranche II Elected In-Service Date (each as defined in the CP2 TSA) have both occurred in accordance with the CP2 TSA and (ii) with respect to any other Material Project, the date on which a Material Project is placed in service pursuant to the TSA applicable to such Material Project.

"**Junior Lien Intercreditor Agreement**" means an intercreditor agreement, in form and substance reasonably satisfactory to the Administrative Agent and the Collateral Agent (subject to amendments, supplements and other modifications from time to time thereto to which the Collateral Agent is authorized to enter into) among the Collateral Agent and one or more collateral agents or representatives for the holders of Incremental Term Loans, Permitted Second Priority Refinancing Debt, Incremental Equivalent Debt or Secured Hedging Obligations, as applicable, that are intended to be secured on a basis junior in right of priority to the Obligations. Wherever in this Agreement, an Other

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Debt Representative is required to become party to the Junior Lien Intercreditor Agreement, if the related Indebtedness is the initial Indebtedness incurred by the Borrower or a Restricted Subsidiary thereof to be secured by a Lien junior in right of priority to the Liens securing the Obligations, then the Borrower, the Guarantors, Parent, the Collateral Agent and the Other Debt Representative for such Indebtedness shall execute and deliver the Junior Lien Intercreditor Agreement.

"**Junior Liens**" shall mean Liens on any Collateral junior in lien priority with the Liens on such Collateral securing Parity Lien Debt.

"**Latest Maturity Date**" means, at any date of determination, the latest Maturity Date applicable to any Loan or Commitment hereunder at such time, including the latest maturity date of any Refinancing Term Loan, any Refinancing Commitment, any Extended Term Loan, or any Incremental Term Loans, in each case as extended in accordance with this Agreement from time to time.

"**Laws**" means, collectively, all international, foreign, federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents, orders, decrees, injunctions or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority.

"**Lead Arranger**" means MUFG, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd. and SMBC, each in its capacity as a joint lead arranger and joint bookrunner.

"**Lender**" has the meaning set forth in the introductory paragraph to this Agreement, and their respective successors and assigns as permitted hereunder, each of which is referred to herein as a "Lender", excluding, for the avoidance of doubt, any Disqualified Lender.

"**Lender Default**" means (a) the refusal (which may be given verbally or in writing and has not been retracted) or failure of any Lender to make available its portion of any incurrence of any loans or reimbursement obligations required to be made by it, which refusal or failure is not cured within one (1) Business Day after the date of such refusal or failure; (b) the failure of any Lender to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within one (1) Business Day of the date when due, unless subject to a good faith dispute; (c) a Lender has notified the Borrower or the Administrative Agent that it does not intend to comply with its funding obligations, or has made a public statement to that effect with respect to its funding obligations, under any Facility or under other agreements generally in which it commits to extend credit; (d) a Lender has failed, within three (3) Business Days after request by the Administrative Agent, to confirm that it will comply with its funding obligations under any Facility or to deny that it is insolvent or (e) a Lender has admitted in writing that it is insolvent or such Lender becomes subject to a Lender-Related Distress Event or a Bail-in Action. Any determination by the Administrative Agent that a Lender Default has occurred under any one or more of clauses (a) through (e) above shall be conclusive and binding absent manifest error, and the applicable Lender shall be deemed to be a Defaulting Lender (subject to <u>Section 2.16(b)</u> upon delivery of written notice of such determination to the Borrower and each Lender).

"**Lender-Related Distress Event**" means, with respect to any Lender or any Person that directly or indirectly controls such Lender (each, a "**Distressed Person**"), as the case may be, a voluntary or involuntary case with respect to such Distressed Person under any Debtor Relief Law, or a custodian, conservator, receiver or similar official is appointed for such Distressed Person or any substantial part of

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such Distressed Person's assets, or such Distressed Person or any person that directly or indirectly controls such Distressed Person is subject to a forced liquidation, or such Distressed Person makes a general assignment for the benefit of creditors or is otherwise adjudicated as, or determined by any Governmental Authority having regulatory authority over such Distressed Person or its assets to be, insolvent or bankrupt; *provided* that a Lender-Related Distress Event shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any equity interests in any Lender or any Person that directly or indirectly controls such Lender by a Governmental Authority or an instrumentality thereof.

"**Lending Office**" means, as to any Lender, the office or offices of such Lender described as such in such Lender's Administrative Questionnaire, or such other office or offices as such Lender may from time to time notify the Borrower and the Administrative Agent.

"**Lien**" means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any Capitalized Lease having substantially the same economic effect as any of the foregoing).

"**Loan**" means any Initial Term Loan, Incremental Term Loan, Refinancing Term Loan or Extended Term Loan, as the context may require.

"**Loan Documents**" means, collectively, (a) this Agreement, (b) the Notes, (c) the Collateral Documents, (d) each Intercreditor Agreement to the extent then in effect and (e) any Refinancing Amendment, Incremental Amendment or Extension Amendment.

"**Loan Parties**" means, collectively, the Borrower, the Parent and the Permitted Subsidiary.

"**Local Accounts**" means shall mean one or more local checking accounts of the Borrower with funds not to exceed in the aggregate (i) prior to the Conversion Date, 60 days of anticipated Project Costs and (ii) on and after the Conversion Date, 60 days of projected Operating Expenses; *provided*, that any such account established pursuant to this definition shall be subject to a Control Agreement within 60 days (or such longer period as the Administrative Agent may agree in writing) of the later of (x) the Closing Date and (y) the opening thereof; *provided further*, that (i) during the 60 day period following the Closing Date, the Local Accounts that are not subject to a Control Agreement during such 60 day period shall not contain more than $10 million (in the aggregate across all such Local Accounts, the Permitted Subsidiary Account or the ROW Accounts that are not subject to a Control Agreement) unless and until such Control Agreement is in full force and effect and (ii) at all other times, no such Local Account shall contain any funds unless and until such Control Agreement is in full force and effect.

"**Long Term Debt**" shall mean Indebtedness of the type set forth in <u>clause (a)</u> of the definition of "Indebtedness" that is extended by a Person other than a Loan Party that matures more than one year from the date of its incurrence.

"**Loss Proceeds**" means the casualty insurance proceeds in respect of physical loss or damage arising from or in connection with a Casualty Event (but excluding proceeds of business interruption, delayed start-up and third-party liability insurance).

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"**LTM Adjusted EBITDA**" means, as of any date of determination, Adjusted EBITDA of the Borrower for the most recently ended Test Period of the Borrower, calculated on a pro forma basis, for which financial statements are internally available.

"**Major Maintenance Reserve Account**" is defined in the Security and Depositary Agreement.

"**Margin Stock**" has the meaning set forth in Regulation U issued by the FRB.

"**Market Consultant**" means S&P Global Commodity and/or Subsidiaries and Affiliates of S&P Global Commodity.

"**Material Adverse Effect**" means any event or circumstance affecting the business, assets, operations, properties, or financial condition of the Loan Parties, taken as a whole, that would, individually or in the aggregate, materially adversely affect (i) the business, operations, or financial condition of the Loan Parties, taken as a whole, (ii) the ability of the Loan Parties (taken as a whole) to fully and timely perform their payment obligations under the Loan Documents, (iii) the Collateral or the validity, perfection or effectiveness of the security interests granted under any Collateral Document that materially adversely affects the rights, interests or remedies of the Collateral Agent or (iii) the material rights and remedies available to the Lenders and Agents, taken as a whole, under the Loan Documents or the ability of the Secured Parties, taken as a whole, to enforce the Obligations under the Loan Documents.

"**Material Project Counterparty**" means each other Person (other than a Loan Party) counterparty to any Material Project Document.

"**Material Project Documents**" means, individually or collectively, as the context may require, the following contracts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Blackfin Capacity Lease;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the O&M Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any Additional Material Project Document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any other documents as may be entered into by the Borrower and designated by the Borrower as a Material Project Document; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any agreement entered into in replacement of any of the foregoing.

"**Material Project EBITDA Adjustment**" means, with respect to each Material Project of the Borrower:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;prior to the ISD for such Material Project (but including the fiscal quarter in which such ISD occurs), a percentage (equal to the then-current completion percentage of such Material Project) of an amount to be approved by the Administrative Agent in its reasonable discretion as the projected Adjusted EBITDA of the Borrower with respect to such Material Project for the first 12-month period following the scheduled ISD of such Material Project (such amount to be determined based on predominantly contracts relating to such Material Project, the creditworthiness of the other parties to such contracts, and projected revenues from such contracts, capital costs and expenses, scheduled ISD, and other factors reasonably deemed appropriate by the Administrative Agent), which may, at the Borrower's option, be added to

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actual Adjusted EBITDA for the fiscal quarter in which construction of the Material Project commences and for each fiscal quarter thereafter until the ISD of such Material Project (including the fiscal quarter in which such ISD occurs, but net of any actual Adjusted EBITDA of the Borrower attributable to such Material Project following such ISD) (and it being understood that for any four fiscal quarter test period, such amounts for a 12-month period shall be deemed to be added only to the most recently ended fiscal quarter); *provided* that if the actual ISD does not occur by the scheduled ISD, then the foregoing amount shall be reduced, for periods ending after the scheduled ISD to (but excluding) the first full quarter after its actual ISD, by the following percentage amounts depending on the period of delay (based on the period of actual delay or then-estimated delay, whichever is longer): (i) 90 days or less, 0%, (ii) longer than 90 days, but not more than 180 days, 25%, (iii) longer than 180 days, but not more than 270 days, 50%, (iv) longer than 270 days, but not more than 365 days, 75% and (v) longer than 365 days, 100%; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;beginning with the first full fiscal quarter following the ISD of a Material Project and for two immediately succeeding fiscal quarters, an amount to be approved by the Administrative Agent in its reasonable discretion as the projected Adjusted EBITDA of the Borrower attributable to such Material Project (determined in the same manner as set forth in clause (a) above) for the balance of the four full fiscal quarter period following such ISD, which may, at the Borrower's option, be added to actual Adjusted EBITDA for such fiscal quarters (but net of any actual Adjusted EBITDA of the Borrower attributable to such Material Project following such ISD) (and it being understood that for any four fiscal quarter test period, such amounts shall be deemed to be added only to the most recently ended fiscal quarter).

"**Material Projects**" means the development, design, permitting, engineering, procurement, construction, completion, testing, operation and/or maintenance of any natural gas pipeline system project and any compressor stations and ancillary facilities under any TSA designated by written notice by the Borrower to the Administrative Agent (subject to receipt and approval (such approval not to be unreasonably withheld, conditioned or delayed) by the Administrative Agent of customary information (including *pro forma* projections) relating to such Material Project, as more fully set forth in the TLA/Revolver Credit Agreement).

"**Material Real Property**" means any individual parcel of real property or Project Property Right owned, leased or held by any Loan Party and located in the United States with respect to any contiguous portion of the Project which (a) has a natural gas processing plant, compression station or terminal situated thereon or projected to be situated thereon, which, as of the Closing Date, consists of those set forth on <u>Schedule 6.11(b)</u> hereto or (b) has a Fair Market Value (determined at the time of the acquisition thereof) of greater than $20,000,000; provided that, notwithstanding the foregoing, Material Real Property shall not include any Excluded Assets.

"**Maturity Date**" means (a) with respect to the Initial Term Loans, September 29, 2032 ("**Term Facility Maturity Date**"), (b) with respect to any tranche of Extended Term Loans, the final maturity date applicable thereto as specified in the applicable Extension Request accepted by the respective Lender or Lenders, (c) with respect to any Refinancing Term Loans, the final maturity date applicable thereto as specified in the applicable Refinancing Amendment and (d) with respect to any Incremental Term Loans, the final maturity date applicable thereto as specified in the applicable Incremental Amendment; *provided*, in each case, that if such date is not a Business Day, then the applicable Maturity Date shall be the next succeeding Business Day.

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"**Maximum Hedge Requirement**" has the meaning set forth in <u>Section 6.23</u>.

"**Maximum Rate**" has the meaning set forth in <u>Section 10.10</u>.

"**MFN Protection**" has the meaning set forth in <u>Section 2.12(e)(iii)</u>.

"**Minimum Hedge Requirement**" has the meaning set forth in <u>Section 6.23</u>.

"**Minimum Tender Condition**" shall have the meaning provided in <u>Section 2.18(b)</u>.

"**Moody's**" means Moody's Investors Service, Inc. and any successor thereto.

"**Mortgage Policies**" has the meaning set forth in the definition of "Collateral and Guarantee Requirement".

"**Mortgaged Property**" has the meaning set forth in the definition of "Collateral and Guarantee Requirement".

"**Mortgages**" has the meaning set forth in the definition of "Collateral and Guarantee Requirement".

"**MUFG**" means MUFG Bank, Ltd.

"**Multiemployer Plan**" means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which any Loan Party or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five (5) plan years, has made or been obligated to make contributions if liability to a Loan Party remains.

"**MVC Contract**" means any transportation services or other revenue contract of the Borrower designated by written notice by the Borrower to the Administrative Agent (subject to receipt and approval (such approval not to be unreasonably withheld, conditioned or delayed) by the Administrative Agent of customary information (including pro forma projections) relating to such MVC Contract, as more fully set forth in the TLA/Revolver Credit Agreement).

"**MVC EBITDA Adjustment**" means, with respect to any MVC Contract, an amount approved by the Administrative Agent in its reasonable discretion as the projected Adjusted EBITDA of the Borrower with respect to such MVC Contract for the first 12-month period following the execution of such MVC Contract, which may, at the Borrower's option, be added to actual Adjusted EBITDA for the fiscal quarter in which such MVC Contract is executed and for each fiscal quarter thereafter (it being understood that for any four fiscal quarter test period, such amounts for a 12-month period shall be deemed to be added only to the most recently ended fiscal quarter) until four full fiscal quarters have passed since the execution of such MVC Contract at which point no Material Project EBITDA Adjustment (including in respect of prior fiscal quarters) shall be made to Adjusted EBITDA in respect of such MVC Contracts (and any MVC EBITDA Adjustment shall, in each case, be net of any actual Adjusted EBITDA of the Borrower attributable to such MVC Contract).

"**NAIC**" means the National Association of Insurance Commissioners or any successor thereto.

"**Natural Person**" means (a) any natural person or (b) a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural person.

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"**Negative Credit Event**" means, with respect to an Acceptable Bank that has issued a DSR L/C, a downgrade in (including the withdrawal of) the Acceptable Bank's long-term unsecured senior debt rating by any Acceptable Rating Agency such that the Acceptable Bank no longer meets the credit criteria set forth in the definition of "Acceptable Bank."

"**Net Income**" means with respect to the Borrower for any period, the net income (or loss) of the Borrower for such period, determined in accordance with GAAP; *provided*, *however* that, without duplication,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any effect of extraordinary, unusual or non-recurring gains or losses (less all fees and expenses relating thereto) or expenses, expenses attributable to the implementation of cost savings initiatives and other restructuring and integration costs (including related to the start-up, closure, and/or consolidation of facilities), and one-time compensation charges shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the net income for such period shall not include the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting policies during such period,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any effect of income (loss) from disposed or discontinued operations and any net gains or losses on disposal of disposed, abandoned, closed, or discontinued operations shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any effect of gains or losses (less all fees and expenses relating thereto) attributable to asset dispositions or transfers other than in the ordinary course of business, as determined by the Borrower in good faith, shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;accruals and reserves (including contingent liabilities) that are established or adjusted within twelve months after the Closing Date that are so required to be established as a result of the transactions contemplated by the Loan Documents (or within twelve months after the closing of any acquisition that are so required to be established as a result of such acquisition) in accordance with GAAP shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;any costs or expenses incurred during such period relating to environmental remediation, litigation, or other disputes in respect of events and exposures that occurred prior to the Closing Date shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;any impairment charge or asset write-off or write-down, including impairment charges or asset write-offs or write-downs related to intangible assets, long-lived assets, investments in debt and equity securities or as a result of a change in law or regulation, in each case, pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;to the extent covered by insurance and actually reimbursed, or, so long as the Borrower has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is in fact reimbursed within 365 days of the date of such determination (with a deduction in the applicable future period for any amount so added back to the extent not so reimbursed within such 365 days), expenses, charges or losses with respect to liability or casualty events or business interruption shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any expenses, charges or losses that are covered by indemnification or other reimbursement provisions in connection with any investment or any sale, conveyance, transfer or other disposition of assets, to the extent actually reimbursed, or, so long as the Borrower has made a determination that a reasonable basis exists for indemnification or reimbursement and only to the extent that such amount is in fact indemnified or reimbursed within 365 days of such

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determination (with a deduction in the applicable future period for any amount so added back to the extent not so indemnified or reimbursed within such 365 days), shall be excluded,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;any fees and expenses incurred during such period, or any amortization thereof for such period, in connection with any acquisition, investment, recapitalization, new contract start-up, assets sale, issuance, or repayment of indebtedness, issuance of equity interests, refinancing transaction or amendment or modification of any debt instrument (in each case, including any such transaction consummated prior to the Closing Date and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period as a result of any such transaction shall be excluded, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;any non-cash portion of straight line rent expense and any non-cash portion related to rent expense as a result of change on accounting policies shall be excluded.

"**Net Proceeds**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;one hundred percent (100.0%) of the cash proceeds actually received by the Borrower or the Permitted Subsidiary from any Disposition effected pursuant to <u>Section 7.05(a)</u> or <u>7.05(g)</u> or from any Casualty Event, net of (i) attorneys' fees, accountants' fees, investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith, (ii) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness that is secured by a Lien (other than a Lien that ranks *pari passu* with or subordinated to the Liens securing the Obligations) on the asset subject to such Disposition and that is required to be repaid (and is timely repaid) in connection with such Disposition (other than Indebtedness under the Loan Documents), (iii) taxes paid or reasonably estimated to be payable as a result thereof (including amounts needed to make any Permitted Tax Distributions), and (iv) the amount of any reasonable reserve established in accordance with GAAP against any adjustment to the sale price or any liabilities (other than any taxes deducted pursuant to clause (i) above) (x) related to any of the applicable assets and (y) retained by the Borrower including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations (however, the amount of any subsequent reduction of such reserve (other than in connection with a payment in respect of any such liability) shall be deemed to be Net Proceeds of such Disposition occurring on the date of such reduction); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;one hundred percent (100.0%) of the cash proceeds from the incurrence, issuance or sale by the Borrower of any Indebtedness, net of all taxes paid or reasonably estimated to be payable as a result thereof (including any Permitted Tax Distributions) and fees (including investment banking fees and discounts), commissions, costs and other expenses, in each case incurred in connection with such incurrence, issuance or sale.

For purposes of calculating the amount of Net Proceeds, fees, commissions and other costs and expenses payable to the Borrower shall be disregarded.

"**Non-Capitalized Lease Obligation**" means a lease obligation that is not required to be accounted for as a financing or capital lease on both the balance sheet and the income statement for financial reporting purposes in accordance with GAAP. For the avoidance of doubt, a straight-line or operating lease shall be considered a Non-Capitalized Lease Obligation.

"**Non-Consenting Lender**" has the meaning set forth in <u>Section 3.07(c)</u>.

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"**Non-Debt Fund Affiliate**" means any Affiliate of Parent other than (a) Parent or any Subsidiary of Parent, (b) any Debt Fund Affiliates and (c) any Natural Person.

"**Non-Defaulting Lender**" means, at any time, a Lender that is not a Defaulting Lender.

"**Not Otherwise Applied**" means, with reference to any amount of net proceeds of any transaction or event, that such amount was not previously (and is not concurrently being) applied in determining the permissibility of a transaction under the Loan Documents where such permissibility was or is (or may have been) contingent on receipt of such amount or utilization of such amount for a specified purpose.

"**Note**" means a promissory note of the Borrower payable to any Lender or its registered assigns, in substantially the form of <u>Exhibit B</u>, evidencing the aggregate Indebtedness of the Borrower to such Lender resulting from the Term Loans made by such Lender.

"**NYFRB**" means the Federal Reserve Bank of New York.

"**O&M Account**" is defined in the Security and Depositary Agreement.

"**O&M Agreement**" means that certain Construction, Operation and Management Agreement between the Borrower and WWM Operating LLC, dated November 1, 2024.

"**O&M Consent Agreement**" means that certain Consent to Collateral Assignment, dated as of the date hereof, by and between WWM Operating LLC and the Borrower, substantially in the form attached hereto as <u>Exhibit K</u>.

"**Obligations**" means all (a) advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding and (b) any Secured Hedging Obligations. Without limiting the generality of the foregoing, the Obligations of the Loan Parties under the Loan Documents include the obligation (including guarantee obligations) to pay principal, interest, reimbursement obligations, charges, expenses, fees, Attorney Costs, indemnities and other amounts payable by any Loan Party under any Loan Document, in each such case, to the extent that any of the foregoing are required to be paid under the Loan Documents.

"**OFAC**" means the Office of Foreign Assets Control of the United States Department of the Treasury.

"**Offered Amount**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(1)</u>.

"**Offered Discount**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(1)</u>.

"**Officer's Certificate**" means a certificate signed by a Responsible Officer of the Borrower.

"**OID**" means original issue discount.

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"**OID Amount**" means OID in an amount equal to (a) in the case of the Initial Term Loans, the amount (if any) set forth in the applicable Fee Letter and (b) in the case of any Incremental Term Loans or Refinancing Term Loans, an amount set forth in the Incremental Amendment for such Incremental Term Loans or the Refinancing Amendment for such Refinancing Term Loans (or any fee letter entered into in connection therewith).

"**Operating Expenses**" shall mean (a) (i) the actual cash costs and expenses incurred in connection with the ownership, operation and maintenance of the Project, including payments to the counterparties under the Material Project Documents or any other source, fees and expenses of, and other amounts owing to, the Collateral Agent or any other Agent, (ii) costs, expenses and fees attendant to obtaining and maintaining in effect any Permit, and (iii) payments under any parts agreement, payments for spare parts, consumables, equipment, materials, utilities, repair and routine maintenance services, and replacement costs of assets and properties, (b) all Taxes imposed on and payable by the Borrower (other than any Taxes imposed on or measured by income or receipts), (c) insurance costs payable during such period, including insurance premiums, (d) legal, accounting and other professional fees attendant to any of the foregoing items payable during such period, (e) payments not to exceed $5,000,000 in any calendar year in respect of Indebtedness permitted under <u>Section 7.03(r)</u> that is incurred in the ordinary course of business (other than as excluded pursuant to clause (C), (D) and (E) below), (f) payments of any salaries and benefits of employees, and (g) all other costs and expenses in connection with the management, administration, maintenance, operation, refurbishment, preservation, renovation or restoration of the Project (and any related infrastructure); *provided*, that all of the foregoing costs and expenses shall be determined on a cash basis and shall not include (A) depreciation, amortization and other non-cash items and or other bookkeeping entries of a similar nature, (B) payments of any kind with respect to Restricted Payments, (C) payment of any Capital Expenditures other than Permitted Capital Expenditures, (D) Financing Costs, or (E) financing costs under any Incremental Term Loans, Incremental Equivalent Debt or Refinancing Series.

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

"**Other Debt Representative**" means, with respect to any (a) series of Permitted First Priority Refinancing Debt, Permitted Second Priority Refinancing Debt or Incremental Equivalent Debt, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be or (b) Secured Hedging Agreement, the counterparty to such Secured Hedging Agreement (other than the Borrower) or any agent acting on its behalf, and in the case of preceding clauses (a) and (b), each of their successors and assigns in such capacities.

"**Other Connection Taxes**" means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in

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any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

"**Other Taxes**" means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 3.07).

"**Outstanding Amount**" means, on any date of determination, the aggregate outstanding principal amount of Loans after giving effect to any borrowings and prepayments or repayments of Loans occurring on such date.

"**Overnight Bank Funding Rate**" means, for any day, the rate comprised of both overnight federal funds and overnight eurocurrency borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate).

&nbsp;&nbsp;&nbsp;&nbsp;"**Parent**" has the meaning set forth in the introductory paragraph of this Agreement.

"**Parity Liens**" shall mean Liens on any Collateral *pari passu* in lien priority with the Liens on such Collateral securing the Initial Term Loans or any other Parity Lien Debt.

"**Parity Lien Debt**" shall mean the (i) Initial Term Loans, (ii) any other then outstanding Incremental Term Loans, Incremental Equivalent Debt and Refinancing Series, (iii) the Secured Hedging Agreements and (iv) all other Indebtedness, in each case secured by Liens on any Collateral *pari passu* in lien priority with the Liens on such Collateral securing the Initial Term Loans (including, without limitation, Indebtedness arising under the TLA/Revolver Credit Agreement).

"**Parent Company**" means, with respect to any Person, a direct or indirect parent company of such Person.

"**Participant**" has the meaning set forth in <u>Section 10.07(f)</u>.

"**Participant Register**" has the meaning set forth in <u>Section 10.07(f)</u>.

"**Participating Lender**" has the meaning set forth in <u>Section 2.03(a)(iv)(C)(2)</u>.

"**Payment**" has the meaning set forth in <u>Section 9.16</u>.

"**Payment in Full**" means (x) the payment in full of the Loans and all other Obligations (other than contingent reimbursement obligations) that are accrued and payable, (y) the termination and payment in full of the Secured Hedging Agreements and (z) the termination of the Commitments.

"**Payment Notice**" has the meaning set forth in <u>Section 9.16</u>.

"**Payment or Bankruptcy Default**" means an Event of Default under <u>Section 8.01(a)</u>, <u>(f)</u> or <u>(g)</u>.

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"**PBGC**" means the Pension Benefit Guaranty Corporation.

"**Pension Plan**" means any "employee pension benefit plan" (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by any Loan Party or to which any Loan Party contributes or has an obligation to contribute or has any liability (including on account of any ERISA Affiliate), or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five (5) plan years.

"**Permit**" means, at any relevant time, any authorization, consent, certification, determination, license, approval, permit, registration, order, ruling, identification number, exemption, notice, declaration or similar right, undertaking, verification or other action of, to or by, or any filing, qualification or registration with, any Governmental Authority in connection with the development, construction, operation, maintenance and management of the Project.

"**Permitted Capital Expenditures**" is defined in the Security and Depositary Agreement.

"**Permitted Debt Exchange**" shall have the meaning provided in <u>Section 2.18(a)</u>.

"**Permitted Debt Exchange Notes**" shall have the meaning provided in <u>Section 2.18(a)</u>.

"**Permitted Debt Exchange Offer**" shall have the meaning provided in <u>Section 2.18(a)</u>.

"**Permitted First Priority Refinancing Debt**" means any Permitted First Priority Refinancing Notes and any Permitted First Priority Refinancing Loans.

"**Permitted First Priority Refinancing Loans**" means any Credit Agreement Refinancing Indebtedness in the form of secured loans incurred by the Borrower in the form of one or more tranches of Loans under this Agreement; *provided* that (a) such Indebtedness is secured by the Collateral on a *pari passu* basis (but without regard to the control of remedies) with the Liens securing the Obligations and is not secured by any property or assets of the Borrower other than the Collateral, (b) such Indebtedness is not at any time guaranteed by any Person other than Persons that Guarantee the Obligations, and (c) if such Indebtedness is in the form of Refinancing Term Loans it does not mature prior to the date that is the Maturity Date applicable to the Loans being refinanced or have a Weighted Average Life to Maturity shorter than the Loans being refinanced, in either case at the time such Indebtedness is incurred or issued; *provided* that the foregoing requirements of this clause (c) shall not apply (i) to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this clause (c) and such conversion or exchange is subject only to conditions customary for similar conversions or exchange or (ii) to the Inside Maturity Basket.

"**Permitted First Priority Refinancing Notes**" means any Credit Agreement Refinancing Indebtedness in the form of secured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of senior secured notes (whether issued in a public offering, Rule 144A, private placement or otherwise); *provided* that (a) such Indebtedness is secured by the Collateral on a *pari passu* basis (but without regard to the control of remedies) with the Liens securing the Obligations and is not secured by any property or assets of the Borrower other than the Collateral, (b) such Indebtedness is not at any time guaranteed by any Person other than Persons that Guarantee the Obligations, (c) such Indebtedness does not mature prior to the date that is the Maturity Date with respect to the Loans being refinanced or have a Weighted Average Life to Maturity shorter than the Weighted

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Average Life to Maturity of the Indebtedness being refinanced, in either case at the time such Indebtedness is incurred or issued; *provided* that the foregoing requirements of this clause (c) shall not apply (i) to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this clause (c) and such conversion or exchange is subject only to conditions customary for similar conversions or exchange or (ii) to the Inside Maturity Basket, (d) the security agreements relating to such Indebtedness are substantially the same as or more favorable to the Loan Parties than the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent) and (e) an Other Debt Representative acting on behalf of the holders of such Indebtedness shall have become party to each Intercreditor Agreement. Permitted First Priority Refinancing Notes will include any Registered Equivalent Notes issued in exchange therefor.

"**Permitted Holders**" means, at any time prior to the Conversion Date, any combination of the Sponsors and their Affiliates and at any time on or after the Conversion Date, any combination of the Sponsors, their Affiliates and Acceptable Owners.

"**Permitted Indebtedness**" has the meaning set forth in <u>Section 7.03</u>.

"**Permitted Incremental Uses**" means any of the following: (a) Expansion Capital Expenditures, (b) transaction costs, fees and expenses associated with the Incremental Term Facility or Expansion Capital Expenditures and (c) reimbursement of any equity used to fund previous Expansion Capital Expenditures beyond the capacity of the Project contemplated in accordance with the Closing Date Financial Model.

"**Permitted Investments**" means any Investment permitted pursuant to <u>Section 7.02</u>.

"**Permitted Liens**" has the meaning set forth in <u>Section 7.01</u>.

"**Permitted Other Debt Conditions**" means, with respect to Permitted Second Priority Refinancing Debt and Permitted Unsecured Refinancing Debt, that such Indebtedness (a) subject to the Inside Maturity Basket, does not mature or have scheduled amortization payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligations (except customary asset sale, event of loss, change of control or event of default provisions), in each case prior to the Latest Maturity Date at the time such Indebtedness is incurred, (b) is not at any time guaranteed by any Person other than Persons that Guarantee the Obligations and (c) to the extent secured, the security agreements relating to such Indebtedness are substantially the same as or more favorable to the Loan Parties than the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent).

"**Permitted Refinancing**" means, with respect to any Person, any modification, refinancing, refunding, renewal, replacement or extension of any Indebtedness of such Person; *provided* that (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed, replaced or extended except by an amount equal to unpaid accrued interest, premium and penalties thereon *plus* an amount equal to all premiums (including tender premiums, if any), accrued and unpaid interest (including post-petition interest), dividends, defeasance costs, underwriting discounts, fees, expenses, charges (including original issue discount, upfront fees or similar fees) and additional or contingent interest on obligations thereon or related thereto and by an amount equal to any existing commitments unutilized thereunder, (b) such modification, refinancing, refunding, renewal, replacement or extension has a final maturity date equal to or later than the final maturity date of, and has a Weighted Average Life to

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Maturity that is equal to or greater than the Weighted Average Life to Maturity of, the Maturity Date with respect to the Indebtedness being refinanced; *provided* that the foregoing requirements of this <u>clause (b)</u> shall not apply (i) to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this <u>clause (b)</u> and such conversion or exchange is subject only to conditions customary for similar conversions or exchange or (ii) to the Inside Maturity Basket, (c) to the extent such Indebtedness refinances, refunds, renews or extends Indebtedness that is secured by the Collateral on a pari passu or junior basis with the Obligations or that is unsecured or subordinated, such Indebtedness is secured, unsecured or subordinated at least to the same extent (as determined by the Borrower) as the Indebtedness being refinanced, refunded, renewed or extended.

"**Permitted Second Priority Refinancing Debt**" means secured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of second lien (or other junior lien) secured notes or second lien (or other junior lien) secured loans; *provided* that (a) such Indebtedness is secured by the Collateral on a second priority (or other junior priority) basis to the Liens securing the Obligations and the obligations in respect of any Permitted First Priority Refinancing Debt and is not secured by any property or assets of the Borrower other than the Collateral, (b) such Indebtedness may be secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and the obligations in respect of any Permitted First Priority Refinancing Debt, notwithstanding any provision to the contrary contained in the definition of "Credit Agreement Refinancing Indebtedness," (c) an Other Debt Representative acting on behalf of the holders of such Indebtedness shall have become party to the provisions of the Junior Lien Intercreditor Agreement as a "Second Priority Representative" thereunder, and (d) such Indebtedness meets the Permitted Other Debt Conditions. Permitted Second Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

"**Permitted Subsidiary**" has the meaning set forth in the introductory paragraph hereto.

"**Permitted Subsidiary Account**" means shall mean that certain account of the Permitted Subsidiary identified in writing to the Administrative Agent and the Collateral Agent by the Permitted Subsidiary as the Permitted Subsidiary Account; *provided*, that the Permitted Subsidiary Account shall be subject to a Control Agreement within 60 days (or such longer period as the Administrative Agent may agree in writing) of the later of (x) the Closing Date and (y) the opening thereof; *provided further*, that (i) during the 60 day period following the Closing Date, the Permitted Subsidiary Account shall not contain more than $10 million (in the aggregate across all Local Accounts, the Permitted Subsidiary Account or the ROW Accounts that are not subject to a Control Agreement) unless and until such Control Agreement is in full force and effect and (ii) at all other times, the Permitted Subsidiary Account shall not contain any funds unless and until such Control Agreement is in full force and effect.

"**Permitted Tax Distribution**" has the meaning set forth in <u>Section 7.06(e)(i)</u>.

"**Permitted Unsecured Refinancing Debt**" means unsecured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of senior unsecured notes or loans; *provided* that such Indebtedness meets the Permitted Other Debt Conditions.

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

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"**Plan**" means any "employee benefit plan" (as such term is defined in Section 3(3) of ERISA) sponsored, maintained or contributed to by any Loan Party or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate.

"**Platform**" has the meaning set forth in <u>Section 6.02</u>.

"**Pledge Agreement**" means the Pledge Agreement, substantially in the form of <u>Exhibit E-2</u>, dated as of the Closing Date, among the Parent and the Collateral Agent.

"**Pledged Debt**" has the meaning set forth in the Security and Depositary Agreement.

"**Prime Rate**" means the rate of interest per annum quoted from time to time by *The Wall Street Journal* as the prime rate in effect, or if *The Wall Street Journal* ceases to quote such rate, the highest per annum interest rate published by the FRB in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the "bank prime loan" rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the Administrative Agent in its reasonable discretion) or any similar release by the FRB (as determined by the Administrative Agent in its reasonable discretion).

"**Pro Rata Share**" means, with respect to each Lender, at any time a fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which is the amount of the Commitments and, if applicable and without duplication, Loans of such Lender under the applicable Facility or Facilities at such time and the denominator of which is the amount of the Aggregate Commitments under the applicable Facility or Facilities and, if applicable and without duplication, Loans under the applicable Facility or Facilities at such time.

"**Project**" means the proposed development, design, permitting, engineering, procurement, construction, completion, testing, operation and maintenance of an approximately 3.3 Bcf/d natural gas pipeline system linking from Colorado County to Jasper County in Texas and all expansions, compressor stations and ancillary facilities related thereto.

"**Project Accounts**" is defined in the Security and Depositary Agreement.

"**Project Costs**" means, without duplication, all costs, fees, Taxes and expenses incurred or payable by the Borrower in connection with the ownership, development, design, permitting, engineering, procurement, construction, completion and testing of the Project, including the costs incurred in connection with development, design, permitting, engineering, procurement, construction, testing, commissioning, equipping, assembly, inspection, start-up and financing of the Project (provided that Taxes shall only be included to the extent incurred prior to the Conversion Date), Financing Costs related to the loans and other extensions of credit under the Senior Secured Credit Facilities and any refinancing permitted thereunder (but excluding the incurrence of incremental loans under such Senior Secured Credit Facilities), Operating Expenses, cash security posted under any Material Project Document, expenses incurred in connection with initial working capital requirements, initial inventory and spares requirements, Debt Service and other fees (including advisors' fees) payable to the Secured Parties, advisors' fees, fees related to the provision of Acceptable Credit Support, , amounts used for the initial funding of the Debt Service Reserve Accounts and the reimbursement of Drawstop Equity Contributions.

"**Project Document**" means any Material Project Document and any other contract or agreement entered into by the Borrower for (i) the design of the Project, (ii) the procurement of major components of the Project, (iii) the construction of the Project and associated facilities and (iv) the operation and/or maintenance of the Project and associated facilities.

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"**Project Facilities**" means the Project and associated facilities or any portion thereof, in each case, on the Project Site.

"**Projections**" shall mean any projections and any forward-looking statements (including statements with respect to booked business) of the Borrower furnished to the Lenders or the Administrative Agent by or on behalf of the Borrower prior to the Closing Date.

"**Project Property Rights**" means collectively, all right, title and interest (including any leasehold or other estate) of any Loan Party in and to any and all parcels of real property, including, fee interests, leasehold interests, right-of-way agreements, easements, surface use agreements, servitudes, permits, licenses and other similar access agreements conferring upon such Loan Party the surface or subsurface land use rights.

"**Project Revenues**" means, without duplication, all revenues, interest, payments, cash and other proceeds from whatever source received by or on behalf of the Borrower arising from the ownership or operation of the Project, including payments made to the Borrower under any Project Document, liquidated damages payable as compensation for delay paid by the relevant counterparty under any Material Project Document, delay in start-up proceeds, business interruption insurance proceeds and proceeds of liability insurance (to the extent such liability insurance proceeds represent reimbursement of third party claims previously paid by the Borrower), and investment income on amounts in the Project Accounts (in each case to the extent deposited in or transferred to the Revenue Account) (it being acknowledged that asset sale proceeds, Loss Proceeds, proceeds of Indebtedness for borrowed money, any drawings under a letter of credit, any net payments received pursuant to the Interest Rate Hedge Agreements as determined in conformity with cash accounting principles, any performance-based liquidated damages payments to the Borrower under any Material Project Document and equity contributions to the Borrower shall not be Project Revenues).

"**Project Schedule**" means a schedule setting forth the expected schedule and milestones for the Project through ISD with respect to the Project delivered to the Lender on the Closing Date pursuant to <u>Section 4.01(n)</u>.

"**Project Site**" means, the tracts of land located in the State of Texas where the Project is, or is to be developed and including all easements, rights of ways, leases or similar real property rights required to develop, construct, operate and maintain the Project, including any processing station related thereto, whether now owned or hereafter acquired by the Borrower.

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

"**Public Lender**" has the meaning set forth in <u>Section 6.02</u>.

"**Qualified Equity Interests**" means any Equity Interests that are not Disqualified Equity Interests.

"**Qualified IPO**" means any transaction or series of transactions that results in any of the common Equity Interests of Parent, any Parent Company of the Parent or the Borrower being publicly traded on any United States national securities exchange or over-the-counter market, or any analogous exchange or any recognized securities exchange in Canada, the United Kingdom or any country of the European Union.

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"**Qualified Operator**" means any of (a) WWM Operating, LLC, or any of its Affiliates or (b) any Person that (i) directly or through an Affiliate, has operated, for at least 2 years, one or more natural gas pipelines at least 100 miles long, in the aggregate, at least 24 inches in diameter, and with at least 10,000 hp of compression, capable of transporting, in the aggregate, at least 500 Bcf per year of natural gas, (ii) has an appropriate SCADA system and control rooms through which to manage the Project and (iii) employs sufficient employees (either directly or through the use of experienced contractors) to operate the Project in a manner consistent with good industry practices.

"**Qualifying Lender**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(3)</u>.

"**Quarterly Payment Date**" shall mean the last Business Day of the month immediately following the end of any fiscal quarter of the Borrower commencing with the first full fiscal quarter ending after the Closing Date.

"**Quarterly Retained Available Cash Amount**" means, with respect to any Excess Cash Flow Period, 100.0% of cash transferred from the Distribution Reserve Account or the Initial Debt Service Reserve Account to the Retained ECF Account under the Security and Depositary Agreement.

"**Recipient**" has the meaning set forth in <u>Section 9.16(a)</u>.

"**Reference Time**" with respect to any setting of the then-current Benchmark means (a) if such Benchmark is Term SOFR, 5:00 p.m. (New York City time) on the day that is two U.S. Government Securities Business Days preceding the date of such setting or (b) if such Benchmark is not Term SOFR, the time determined by the Administrative Agent in its reasonable discretion.

"**Refinanced Debt**" has the meaning set forth in the definition of "Credit Agreement Refinancing Indebtedness".

"**Refinancing Amendment**" means an amendment to this Agreement executed by each of (a) each Borrower, (b) the Administrative Agent, (c) each Additional Refinancing Lender and (d) each Lender that agrees to provide any portion of Refinancing Term Loans incurred pursuant thereto, in accordance with <u>Section 2.13</u>.

"**Refinancing Commitments**" means one or more Classes of Commitments hereunder that are established to fund Refinancing Term Loans of the applicable Refinancing Series hereunder pursuant to a Refinancing Amendment.

"**Refinancing Series**" means all Refinancing Term Loans or Refinancing Commitments that are established pursuant to the same Refinancing Amendment (or any subsequent Refinancing Amendment to the extent such Refinancing Amendment expressly provides that the Refinancing Term Loans or Refinancing Commitments provided for therein are intended to be a part of any previously established Refinancing Series) and that provide for the same All-In Yield and amortization schedule.

"**Refinancing Term Loans**" means one or more Classes of Term Loans hereunder that result from a Refinancing Amendment.

"**Register**" has the meaning set forth in <u>Section 10.07(d)</u>.

"**Registered Equivalent Notes**" means, with respect to any notes originally issued in an offering pursuant to Rule 144A under the Securities Act or other private placement transaction under the

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Securities Act of 1933, substantially identical notes (having the same guarantees) issued in a dollar-for-dollar exchange therefor pursuant to an exchange offer registered with the SEC.

"**Release**" means any spilling, leaking, leaching, pumping, pouring, emitting, escaping, emptying, seeping, discharging, injecting, dumping, depositing or disposing into the Environment.

"**Relevant Governmental Body**" means the FRB or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the FRB or the Federal Reserve Bank of New York or any successor thereto.

"**Replacement Conditions**" means both of the following: (1) the Borrower can demonstrate a pro forma Debt Service Coverage Ratio of at least 1.30:1.00 for each quarter through the remaining tenor of the CP2 TSA assuming fully-amortizing term loan debt during such period and (2) each of Moody's and S&P shall have provided a ratings reaffirmation of each of the then-prevailing public ratings of the Initial Term Loans after giving effect to the proposed termination; and the Borrower executes a replacement agreement in respect of the Blackfin Capacity Lease or CP2 TSA, as applicable, on terms not materially less favorable to the Borrower, taken as a whole, than the Blackfin Capacity Lease or CP2 TSA, as applicable.

"**Reportable Event**" means any of the events set forth in Section 4043(c) of ERISA or the regulations issued thereunder with respect to a Pension Plan, other than events for which the thirty (30) day notice period has been waived.

"**Repricing Transaction**" means the prepayment, refinancing, substitution or replacement of all or a portion of the Initial Term Loans with the substantially concurrent incurrence by the Borrower of any new syndicated secured term loans having an All-In Yield that is less than the All-In Yield (as determined by the Administrative Agent on the same basis) of such Initial Term Loans so repaid, refinanced, substituted or replaced, including without limitation, as may be effected through any amendment, amendment or restatement or other modifications to this Agreement relating to the interest rate for, or weighted average yield of, such Initial Term Loans, in each case the primary purpose (as determined by the Borrower in good faith) of which was to reduce such All-In Yield and other than in connection with a Change of Control, a Qualified IPO or a Transformative Transaction.

"**Required Class Lenders**" means, with respect to any Class on any date of determination, Lenders having more than fifty percent (50.0%) of the *sum* of (a) the Total Outstandings under such Class and (b) the aggregate unused Commitments under such Class; *provided* that the unused Commitments (if any) of, and the portion of the outstanding Loans under such Class held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of the Required Class Lenders; *provided, further*, that, to the same extent set forth in <u>Section 10.07(m)</u> with respect to determination of Required Lenders, the Loans of any Affiliated Lender shall in each case be excluded for purposes of making a determination of Required Class Lenders.

"**Required Equity**" means one or more Equity Contributions made to the Borrower such that the Required Pre-Conversion Debt to Equity Ratio is satisfied. The following amounts shall be credited towards the Required Equity as of the Closing Date: (a) documented fees and expenses paid or payable, as set forth in the Construction Budget, (b) cash security posted under any Project Document, if any, *provided* that to the extent the beneficiary of any such cash security releases such cash security, the proceeds thereof shall be deposited directly into the Construction Account prior to the Conversion Date or

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the Revenue Account after the Conversion Date, and (c) capital investments made by any of the Sponsors or any Affiliate thereof and contributed or assigned to the Borrower.

"**Required Facility Lenders**" mean, as of any date of determination, with respect to any Facility, Lenders having more than fifty percent (50.0%) of the *sum* of (a) the Total Outstandings under such Facility and (b) the aggregate unused Commitments under such Facility; *provided* that the unused Commitments (if any) of, and the portion of the Total Outstandings under such Facility held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of the Required Facility Lenders; *provided*, *further*, that, to the same extent set forth in <u>Section 10.07(m)</u> with respect to determination of Required Lenders, the Loans of any Affiliated Lender shall in each case be excluded for purposes of making a determination of Required Facility Lenders.

"**Required Lenders**" means, as of any date of determination, Lenders holding more than fifty percent (50.0%) of the aggregate principal amount of the Loans and Commitments and any Incremental Term Facility; *provided* that Loans and Commitments held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders; provided, further, that, to the same extent set forth in <u>Section 10.07(m)</u> with respect to determination of Required Lenders, the Loans of any Affiliated Lender shall in each case be excluded for purposes of making a determination of Required Lenders.

"**Required Pre-Conversion Debt to Equity Ratio**" means that, prior to the Conversion Date, the Borrower shall maintain a Debt to Equity Ratio of no greater than eighty (80) to twenty (20).

"**Resolution Authority**" means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

"**Responsible Officer**" means the chief executive officer, president, vice president, chief financial officer, chief legal officer, treasurer or assistant treasurer or other similar officer, authorized signatory or a manager of a Loan Party and, as to any document delivered on the Closing Date or any document similar to any such document, any secretary, assistant secretary, manager or authorized signatory of such Loan Party and any officer, employee or authorized signatory of the applicable Loan Party where the signature is included on an incumbency certificate or similar certificate reasonably satisfactory to the Administrative Agent. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. Unless expressly stated otherwise, a reference to a Responsible Officer shall mean a Responsible Officer of the Borrower.

"**Restricted Investment**" means any Investment other than a Permitted Investment.

"**Restricted Payment**" means (a) any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interest of the Borrower, (b) any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of any such Equity Interest, or on account of any return of capital to the Borrower's stockholders, partners or members (or the equivalent Persons thereof) and (c) any Restricted Investment.

"**Retained ECF Account**" is defined in the Security and Depositary Agreement.

"**Revenue Account**" is defined in the Security and Depositary Agreement.

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"**ROW Accounts**" means shall mean one or more local checking accounts of the Borrower with funds not to exceed the cap specified in clause (b) of the definition of "Local Account Maximum Balance" in the Security and Depositary Agreement; *provided*, that any such account established pursuant to this definition shall be subject to a Control Agreement within 60 days (or such longer period as the Administrative Agent may agree in writing) of the later of (x) the Closing Date and (y) the opening thereof; *provided, further,* that (i) during the 60 day period following the Closing Date, the ROW Accounts that are not subject to a Control Agreement during such 60 day period shall not contain more than $10 million (in the aggregate across all such Local Accounts, the Permitted Subsidiary Account or the ROW Accounts that are not subject to a Control Agreement) unless and until such Control Agreement is in full force and effect and (ii) at all other times, no such ROW Account shall contain any funds unless and until such Control Agreement is in full force and effect.

"**S&P**" means Standard & Poor's Ratings Financial Services, a subsidiary of S&P Global Inc., and any successor thereto.

"**Same Day Funds**" means immediately available funds.

"**Sanctioned Country**" means any country, region or territory that is the subject or target of comprehensive Sanctions (as of the date of this Agreement, Cuba, Iran, North Korea, and the Crimea, the so-called Donetsk People's Republic, and the so-called Luhansk People's Republic regions of Ukraine).

"**Sanctioned Person**" means any Person that is the subject or target of Sanctions, including any Person: (i) identified on any Sanctions-related list of designated parties maintained by the United States, the United Nations Security Council, the European Union, any European Union member state, or the United Kingdom; (ii) located, organized, domiciled, incorporated or ordinarily resident in, or the government of a Sanctioned Country; (iii) directly or indirectly fifty percent (50%) or more owned or, where relevant under Sanctions, controlled by, or acting for the benefit or on behalf of, one or more entities or individuals described in (i) and/or (ii) above. 

"**Sanctions**" means any and all economic and financial sanctions, or trade embargoes imposed, administered or enforced by the United States government (including without limitation, OFAC or the U.S. Department of State), the United Nations Security Council, the European Union, any European Union member state, or the United Kingdom. 

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

"**Secured Hedging Agreement**" means any Hedging Agreement entered into with respect to Parity Lien Debt that, in each case, the Borrower shall elect (in writing, to the Administrative Agent, Collateral Agent and Intercreditor Agent) to be secured by the Liens on the Collateral securing the Obligations.

"**Secured Hedging Obligations**" means the obligations of the Borrower or any other Loan Party to any Hedge Provider in respect of any Secured Hedging Agreement (whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising).

"**Secured Net Leverage Ratio**" means the ratio of (a) Indebtedness for borrowed money as reflected on the balance sheet of the Borrower that is secured by a lien on the Collateral, minus unrestricted cash and Cash Equivalents to (b) Adjusted EBITDA for the most recent four quarter period

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for which financial statements are available. Notwithstanding the foregoing, Adjusted EBITDA shall be calculated on an annualized basis using (i) for the first full fiscal quarter ending after the Closing Date, Adjusted EBITDA multiplied by 4, (ii) for the second full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first two full fiscal quarters ending after the Closing Date multiplied by 2 and (iii) for the third full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first three full fiscal quarters ending after the Closing Date multiplied by 4/3.

"**Secured Parties**" means, collectively, the Administrative Agent, the Collateral Agent, the Lenders, the Hedge Providers, the Supplemental Agents and each co-agent or sub-agent appointed by the Administrative Agent or Collateral Agent from time to time pursuant to <u>Section 9.02</u>.

"**Securities Act**" means the Securities Act of 1933, as amended.

"**Security and Depositary Agreement**" means the Security and Depositary Agreement, substantially in the form of <u>Exhibit E-1</u>, dated as of the date hereof, by and among the Borrower, the Collateral Agent, the Intercreditor Agent and the Depositary.

"**Senior Secured Credit Facilities**" means (i) the Facilities provided under this Agreement (including, for the avoidance of doubt, any Incremental Loans, Extended Loans or Refinancing Series) and (ii) the facilities provided under the TLA/Revolver Credit Agreement (including, for the avoidance of doubt, any incremental loans, extended loans or refinancing series thereunder).

"**Senior Secured Credit Facility Loans**" means any loans provided pursuant to the Senior Secured Credit Facilities.

"**SMBC**" means Sumitomo Mitsui Banking Corporation.

"**SOFR**" means a rate per annum equal to the secured overnight financing rate as administered by the SOFR Administrator.

"**SOFR Administrator**" means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).

"**Solicited Discount Proration**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(3)</u>.

"**Solicited Discounted Prepayment Amount**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(1)</u>.

"**Solicited Discounted Prepayment Notice**" means a written notice of the Borrower of Solicited Discounted Prepayment Offers made pursuant to <u>Section 2.03(a)(iv)(D)</u> substantially in the form of <u>Exhibit I-6</u>.

"**Solicited Discounted Prepayment Offer**" means the irrevocable written offer by each Lender, substantially in the form of <u>Exhibit I-7</u>, submitted following the Administrative Agent's receipt of a Solicited Discounted Prepayment Notice.

"**Solicited Discounted Prepayment Response Date**" has the meaning set forth in <u>Section 2.03(a)(iv)(D)(1)</u>.

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"**Solvent**" and "**Solvency**" mean, after giving effect to the consummation of the Transactions, (i) the sum of the debts and liabilities (including liabilities that are contingent, subordinated or otherwise) of the Loan Parties, on a consolidated basis, does not exceed the present fair saleable value of the present assets of the Loan Parties, on a consolidated basis; (ii) the present fair saleable value of the property of the Loan Parties, on a consolidated basis, is greater than the amount that will be required to pay the probable liability, on a consolidated basis, of the debts and other liabilities of the Loan Parties, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; (iii) the capital of the Loan Parties, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof; and (iv) the Loan Parties, on a consolidated basis, have not incurred debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise) or absolute.

"**SPC**" has the meaning set forth in <u>Section 10.07(i)</u>.

"**Specified Discount**" has the meaning set forth in <u>Section 2.03(a)(iv)(B)(1)</u>.

"**Specified Discount Prepayment Amount**" has the meaning set forth in <u>Section 2.03(a)(iv)(B)(1)</u>.

"**Specified Discount Prepayment Notice**" means a written notice of the Borrower of a Borrower Offer of Specified Discount Prepayment made pursuant to <u>Section 2.03(a)(iv)(B)</u> substantially in the form of <u>Exhibit I-8</u>.

"**Specified Discount Prepayment Response**" means the irrevocable written response by each Lender, substantially in the form of <u>Exhibit I-9</u>, to a Specified Discount Prepayment Notice.

"**Specified Discount Prepayment Response Date**" has the meaning set forth in <u>Section 2.03(a)(iv)(B)(1)</u>.

"**Specified Discount Proration**" has the meaning set forth in <u>Section 2.03(a)(iv)(B)(3)</u>.

"**Specified Equity Contribution**" means any cash contribution to the common equity of the Borrower and/or any purchase or investment in an Equity Interest of the Borrower other than Disqualified Equity Interests.

"**Specified Transaction**" means any Investment, Disposition, incurrence or repayment of Indebtedness, Restricted Payment or other transaction in respect of which the terms of this Agreement require any test to be calculated on a "*pro forma* basis" or after giving "*pro forma* effect".

"**Sponsor"** means Venture Global LNG, Inc., WhiteWater Development, LLC and, in each case (whether individually or as a group), Affiliates of either of the foregoing (but excluding any operating portfolio companies of the foregoing).

"**Submitted Amount**" has the meaning set forth in <u>Section 2.03(a)(iv)(C)(1)</u>.

"**Submitted Discount**" has the meaning set forth in <u>Section 2.03(a)(iv)(C)(1)</u>.

"**Subordinated Debt**" means Indebtedness of any Loan Party that is (a) subordinated to the obligations of such Loan Party under this Agreement pursuant to a subordination agreement in form and substance reasonably satisfactory to the Administrative Agent and (b) when incurred, matures at least

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ninety (90) days after the latest maturity date of any Indebtedness outstanding pursuant to the Senior Secured Credit Facilities.

"**Subsidiary**" means, with respect to any specified Person, (a) any corporation, association or other business entity (other than a partnership or limited liability company) of which more than 50% of the total voting power of its Voting Stock 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); and (b) any partnership (whether general or limited) or limited liability company (i) the sole general partner or member of which is such Person or a Subsidiary of such Person, or (ii) if there is more than a single general partner or member, either (x) the only managing general partners or managing members of which are such Person or one or more Subsidiaries of such Person (or any combination thereof) or (y) such Person owns or controls, directly or indirectly, a majority of the outstanding general partner interests, member interests or other Voting Stock of such partnership or limited liability company, respectively, plus in the case of both <u>subclauses (x)</u> and <u>(y)</u> of this <u>clause (ii)</u> it consolidates the financial results of such partnership or limited liability company with its own financial results in accordance with GAAP.

"**Supplemental Agent**" has the meaning set forth in <u>Section 9.13(a)</u> and "**Supplemental Agents**" shall have the corresponding meaning.

"**Surveys**" has the meaning set forth in the definition of "Collateral and Guarantee Requirement".

"**Swap Obligation**" means, with respect to any Person, any obligation of such Person to pay or perform under any Hedging Agreement.

"**Swap Termination Value**" means, in respect of any one or more Hedging Agreements, after taking into account the effect of any legally enforceable netting agreement relating to such Hedging Agreements, (a) for any date on or after the date such Hedging Agreements have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Hedging Agreements, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Hedging Agreements (which may include a Lender or any Affiliate of a Lender).

"**Target Debt Balance Amount**" has the meaning set forth in <u>Section 2.03(b)(i)(A)</u>.

"**Target Debt Balance Amount Adjustment**" means the increase of the Target Debt Balance Amount after giving effect to the incurrence of any additional Parity Lien Debt permitted hereunder (other than Indebtedness for working capital) after the Closing Date, with such increase calculated on a *pro rata* basis based on (a) the total amount of Parity Lien Debt outstanding following such incurrence of Parity Lien Debt as compared to (b) the Target Debt Balance Amount for the most recent period just ended immediately prior to such additional Parity Lien Debt.

"**Target Debt Balance Schedule**" means the target debt balance schedule set forth on <u>Schedule 2.03(b)</u>, as such schedule may be updated from time to time pursuant to a Target Debt Balance Amount Adjustment.

"**Taxes**" has the meaning set forth in <u>Section 3.01(a)</u>.

"**Term Facility Maturity Date**" has the meaning set forth in the definition of "Maturity Date".

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"**Termination Prepayment Amount**" has the meaning set forth in <u>Section 2.03(b)(ii)(C)</u>.

"**Term Loan Increase**" has the meaning set forth in <u>Section 2.12(a)</u>.

"**Term Loans**" means any Initial Term Loan, Incremental Term Loan, Refinancing Term Loan or Extended Term Loan, as the context may require.

"**Term SOFR**" means, for any Interest Period for a Term SOFR Loan, the greater of (a) the Term SOFR Reference Rate (rounded upward to the next one-sixteenth (1/16th) of one percent (0.0625%), if necessary) for a tenor comparable to the applicable Interest Period on the day (the "**Term SOFR Determination Day**") that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator and (b) the Floor; *provided*, *however*, that if as of 5:00 p.m. (New York City time) on any Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Term SOFR Determination Day.

"**Term SOFR Administrator**" means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion).

"**Term SOFR Determination Day**" has the meaning assigned to it under the definition of Term SOFR.

"**Term SOFR Loan**" means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to <u>clause (c)</u> of the definition of "Base Rate".

"**Term SOFR Reference Rate**" means the rate per annum determined by the Administrative Agent as the forward-looking term rate based on SOFR.

"**Test Period**" means for any date of determination under this Agreement, the latest four consecutive fiscal quarters for which financial statements (i) have been delivered to the Administrative Agent on or prior to the Closing Date and/or for which financial statements are required to be delivered pursuant to <u>Section 6.01</u>, as applicable (or, before the first delivery of financials pursuant to <u>Section 6.01</u>, the most recent period of four fiscal quarters at the end of which financial statements are available) or (ii) at the option of the Borrower, are internally available (as determined in good faith by the Borrower).

"**Threshold Amount**" means the greater of (x) $75,000,000 and (y) 37.5% of LTM Adjusted EBITDA.

"**TLA/Revolver Credit Agreement**" means that certain Credit Agreement, dated as of the Closing Date, by and among the Borrower, the Parent, the Permitted Subsidiary, MUFG Bank, Ltd., as the administrative agent, the Collateral Agent and the other persons party thereto from time to time.

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"**Total Loss**" means a total loss or "constructive total loss", destruction or damage with respect to the property of the Borrower affecting all or substantially all of the Project.

"**Total Net Leverage Ratio**" means the ratio of (a) Indebtedness for borrowed money as reflected on the balance sheet of the Borrower, minus unrestricted cash and Cash Equivalents to (b) Adjusted EBITDA for the most recent four quarter period for which financial statements are available. Notwithstanding the foregoing, Adjusted EBITDA shall be calculated on an annualized basis using (i) for the first full fiscal quarter ending after the Closing Date, Adjusted EBITDA multiplied by 4, (ii) for the second full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first two full fiscal quarters ending after the Closing Date multiplied by 2 and (iii) for the third full fiscal quarter ending after the Closing Date, Adjusted EBITDA for the first three full fiscal quarters ending after the Closing Date multiplied by 4/3.

"**Total Outstandings**" means, with respect to any Class or Facility, or all Facilities taken together, as applicable, the aggregate Outstanding Amount of all Loans.

"**Transaction Expenses**" means any fees or expenses incurred or paid by the Sponsors, the Parent or the Borrower in connection with the Transactions (including expenses in connection with hedging transactions related to the Obligations, any OID or upfront fees, employee retention payments and deferred compensation expenses (regardless of when paid)), this Agreement and the other Loan Documents and the transactions contemplated hereby and thereby.

"**Transactions**" means, collectively, (a) the funding of the Initial Term Loans and the execution and delivery of the Loan Documents, (b) the funding of the loans under the TLA/Revolver Credit Agreement and the execution and delivery of the loan documents described therein, (c) the establishment and funding of the Initial Debt Service Reserve Account, including through the issuance of one or more DSR L/Cs, (d) the consummation of certain Restricted Payments as set forth herein and (e) the payment of Transaction Expenses.

"**Transformative Transaction**" means any acquisition or investment by the Borrower that either (a) is not permitted by the terms of the Loan Documents immediately prior to the consummation of such acquisition or investment or (b) if permitted by the terms of the Loan Documents immediately prior to the consummation of such acquisition or investment, would not provide the Borrower with adequate flexibility under the Loan Documents for the continuation and/or expansion of its operations following such consummation, as determined by the Borrower acting in good faith.

"**Transporte**r" means Matterhorn Express Pipeline, LLC.

"**Treasury Regulations**" means the regulations, including temporary and proposed regulations, promulgated by the United States Department of Treasury with respect to the Code, as such regulations are amended from time to time, or corresponding provisions of future regulations.

"**True-Up Distribution**" is defined in the TLA/Revolver Credit Agreement.

"**TSA**" means collectively or individually, as the context may require, each of the following: (a) the CP2 TSA and (b) the Additional TSAs.

"**Type**" means, with respect to a Loan, its character as a Base Rate Loan or a Term SOFR Loan.

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"**UK Financial Institution**" means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

"**UK Resolution Authority**" means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

"**Unadjusted Benchmark Replacement**" means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

"**Uniform Commercial Code**" or "**UCC**" means the Uniform Commercial Code as the same may from time to time be in effect in the State of New York or the Uniform Commercial Code (or similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item or items of Collateral.

"**United States**" or "**U.S.**" means the United States of America.

"**United States Tax Compliance Certificate**" means a certificate substantially in the form of <u>Exhibits H-1</u>, <u>H-2</u>, <u>H-3</u> and <u>H-4</u> hereto, as applicable.

"**USA PATRIOT Act**" means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended from time to time.

"**U.S. Government Securities Business Day**" means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

"**U.S. Person**" means any Person that is a "United States person" (as defined in Section 7701(a)(30) of the Code).

"**Voluntary Prepayment Amount**" has the meaning set forth in <u>Section 2.12(d)(iii)(B)</u>.

"**Voting Stock**" of any specified Person as of any date means the Equity Interests of such Person that is at the time entitled to vote in the election of the board of directors of such Person.

"**Weighted Average Life to Maturity**" means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (a) the *sum* of the products obtained by *multiplying* (i) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (ii) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the then outstanding principal amount of such Indebtedness.

"**wholly owned**" means, with respect to a Subsidiary of a Person, a Subsidiary of such Person all of the outstanding Equity Interests of which (other than (x) director's qualifying shares and (y) shares

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issued to foreign nationals to the extent required by applicable Law) are owned by such Person and/or by one or more wholly owned Subsidiaries of such Person.

"**Withholding Agent**" means the Borrower, any Guarantor, the Parent and the Administrative Agent.

"**Write-Down and Conversion Powers**" means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

"**Yield Differential**" has the meaning set forth in <u>Section 2.12(e)(iii)</u>.

Section 1.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Interpretive Provisions</u>. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The words "herein," "hereto," "hereof" and "hereunder" and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Article, Section, Exhibit and Schedule references are to the Loan Document in which such reference appears.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The term "including" is by way of example and not limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The term "documents" includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements and other writings, however evidenced, whether in physical or electronic form.

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

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

Section 1.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Accounting Terms</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with GAAP, except as otherwise specifically prescribed herein.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary herein, for purposes of determining compliance with any test or covenant contained in this Agreement with respect to any period during which any Specified Transaction occurs, the Debt Service Coverage Ratio, the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio, and the Total Net Leverage Ratio shall be calculated with respect to such period and such Specified Transaction on a *pro forma* basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;References to "fiscal quarter" and "fiscal year" are to the fiscal quarter and fiscal year of the Borrower.

Section 1.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Rounding</u>. Any financial ratios required to be maintained by the Borrower pursuant to this Agreement (or required to be satisfied in order for a specific action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding up if there is no nearest number).

Section 1.05&nbsp;&nbsp;&nbsp;&nbsp;<u>References to Agreements, Laws, Etc.</u> Unless otherwise expressly provided herein, (a) references to Organization Documents, agreements (including the Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements and other modifications are permitted by the Loan Documents; and (b) references to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Law.

Section 1.06&nbsp;&nbsp;&nbsp;&nbsp; <u>Times of Day</u>. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable).

Section 1.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Timing of Payment or Performance</u>. When the payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of "Interest Period") or performance shall extend to the immediately succeeding Business Day.

Section 1.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Negative Covenant Compliance</u>(a)&nbsp;&nbsp;&nbsp;&nbsp;. For purposes of determining whether the any Loan Party complies with any exception to <u>Article VII</u> (other than the Financial Covenant) where compliance with any such exception is based on a financial ratio or metric being satisfied as of a particular point in time, it is understood that (a) compliance shall be measured at the time when the relevant event is undertaken, as such financial ratios and metrics are intended to be "incurrence" tests and not "maintenance" tests and (b) correspondingly, any such ratio and metric shall only prohibit the Borrower from creating, incurring, assuming, suffering to exist or making, as the case may be, any new, for example, Liens, Indebtedness or Investments, but shall not result in any previously permitted, for example, Liens, Indebtedness or Investments ceasing to be permitted hereunder. With respect to determining whether the Borrower complies with any negative covenant in <u>Article VII</u> (other than the Financial Covenant), to the extent that any obligation or transaction could be attributable to more than one exception to any such negative covenant, the Borrower may elect to categorize all or any portion of such obligation or transaction to any one or more exceptions to such negative covenant that permit such obligation or transaction. Notwithstanding anything to the contrary herein, (i) if any incurrence-based financial ratios or tests (including, without limitation, the Debt Service Coverage Ratio, the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio or the Total Net Leverage Ratio) ("**Financial Incurrence Tests**") would be satisfied in any subsequent fiscal quarter following the utilization of either

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(x) fixed baskets, exceptions or thresholds (including any related builder or grower component) that do not require compliance with a financial ratio or test ("**Fixed Amounts**") or (y) baskets, exceptions and thresholds that require compliance with a financial ratio or test (including, without limitation, the Debt Service Coverage Ratio, the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio or the Total Net Leverage Ratio) (any such amounts, "**Incurrence Based Amounts**"), then the reclassification of actions or transactions (or portions thereof), including the reclassification of utilization of any Fixed Amounts as incurred under any available Incurrence Based Amounts, shall be deemed to have automatically occurred even if not elected by the Borrower (unless the Borrower otherwise notifies the Administrative Agent) and (ii) in calculating any Incurrence Based Amounts (including any Financial Incurrence Tests), any (x) DSR L/Cs (or any revolving facility), (y) Indebtedness concurrently incurred to fund original issue discount and/or upfront fees and (z) amounts incurred, or transactions entered into or consummated, in reliance on a Fixed Amount in a concurrent transaction, a single transaction or a series of related transactions with the amount incurred, or transaction entered into or consummated, under the applicable Incurrence Based Amount, in each case of the foregoing <u>clauses (x)</u>, <u>(y)</u> and <u>(z)</u>, shall not be given effect in calculating the applicable Incurrence Based Amount (but giving *pro forma* effect to all applicable and related transactions (including the use of proceeds of all Indebtedness to be incurred and any repayments, repurchases and redemptions of Indebtedness) and all other *pro forma* adjustments).

Section 1.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Rates</u>(a)&nbsp;&nbsp;&nbsp;&nbsp;. The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, (a) the continuation of, administration of, submission of, calculation of or any other matter related to Base Rate, the Term SOFR Reference Rate or Term SOFR, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, Base Rate, the Term SOFR Reference Rate, Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or composition of any Benchmark Replacement Conforming Changes. The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of Base Rate, the Term SOFR Reference Rate, Term SOFR, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain Base Rate, the Term SOFR Reference Rate, Term SOFR or any other Benchmark, or any component definition thereof or rates referred to in the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.

Section 1.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Divisions</u>. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction's laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

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**ARTICLE II <br>THE COMMITMENTS AND BORROWINGS**

Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;<u>The Initial Term Borrowings</u>. Subject to the terms and conditions set forth herein, each Lender severally agrees to make to the Borrower on the Closing Date term loans denominated in Dollars in an aggregate amount not to exceed the amount of such Lender's Initial Term Commitment. Amounts borrowed under this <u>Section 2.01</u> and repaid or prepaid may not be reborrowed. Initial Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided herein. The Initial Term Loans shall be funded net of the OID Amount applicable thereto, if any.

Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Borrowings, Conversions and Continuations of Loans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Term SOFR Loans shall be made upon the Borrower's irrevocable notice on behalf of the Borrower to the Administrative Agent, which may be given by telephone (confirmed by a written Committed Loan Notice). Each such notice must be received by the Administrative Agent not later than (i) 12:00 noon New York City time three (3) Business Days prior to the requested date of any Borrowing or continuation of Term SOFR Loans or any conversion of Base Rate Loans to Term SOFR Loans, and (ii) 11:00 a.m. New York City time on the requested date of any Borrowing of Base Rate Loans; *provided* that the notice referred to in clause (i) above may be delivered no later than one (1) Business Day prior to the Closing Date in the case of the Initial Term Borrowing. Each telephonic notice by the Borrower pursuant to this <u>Section 2.02(a)</u> must be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Term SOFR Loans shall be in a minimum principal amount of $1,000,000, or a whole multiple of $100,000, in excess thereof. Except as provided in the last sentence of this paragraph, each Borrowing of or conversion to Base Rate Loans shall be in a minimum principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Term SOFR Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, converted to, or continued as Term SOFR Loans with an Interest Period of one (1) month. Any such automatic conversion to, or continuation as, Term SOFR Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Term SOFR Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Term SOFR Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Pro Rata Share or other applicable share provided for under this Agreement of the applicable Class of Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall promptly notify each Lender of the details of any automatic conversion to Term SOFR Loans or continuation described in <u>Section 2.02(a)</u>. In the case of each Borrowing, each Appropriate Lender shall make the amount of its Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent's Office not later than 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice. Except as otherwise provided in the

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following sentence, the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent by wire transfer of such funds in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower.

Except as otherwise provided herein, a Term SOFR Loan may be continued or converted only on the last day of an Interest Period for such Term SOFR Loan unless the Borrower pays the amount due, if any, under <u>Section 3.05</u> in connection therewith. During the existence of a Payment or Bankruptcy Default, the Administrative Agent shall, at the direction of the Required Lenders, require that no Loans may be converted to or continued as Term SOFR Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period for Term SOFR Loans upon determination of such interest rate. The determination of Term SOFR by the Administrative Agent shall be conclusive in the absence of manifest error. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in the Prime Rate used in determining the Base Rate promptly following the announcement of such change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;After giving effect to all Borrowings, all conversions of Loans, from one Type to the other, and all continuations of Loans as the same Type, there shall not be more than ten (10) Interest Periods in effect; *provided* that after the establishment of any new Class of Loans pursuant to an Incremental Amendment, Refinancing Amendment or Extension Amendment, the number of Interest Periods otherwise permitted by this <u>Section 2.02(d)</u> shall increase by three (3) Interest Periods for each applicable Class so established.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The failure of any Lender to make the Loan to be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Loan on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Loan to be made by such other Lender on the date of any Borrowing or make any other payment obligation under the Loan Documents.

Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Prepayments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Voluntary.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Borrower may, upon, subject to <u>clause (iii)</u> below, written notice to the Administrative Agent by the Borrower, at any time or from time to time voluntarily prepay Loans of any Class in whole or in part without premium or penalty (subject to <u>Section 2.03(a)(iii)</u>); *provided* that (1) such notice must be received by the Administrative Agent not later than 1:00 p.m. New York City time (A) three (3) Business Days prior to any date of prepayment of Term SOFR Loans and (B) one (1) Business Day prior to any on the date of prepayment of Base Rate Loans; (2) any prepayment of Term SOFR Loans shall be in a minimum principal amount of $1,000,000, or a whole multiple of $1,000,000 in excess thereof; and (3) any prepayment of Base Rate Loans shall be in a minimum principal amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans and the order of Borrowing(s) to be prepaid. The Administrative Agent will promptly notify each Appropriate Lender of its receipt of each such notice, and of the amount of such Lender's Pro Rata Share or other applicable share provided for under this Agreement of such prepayment. If such notice is given by the Borrower, the Borrower shall make

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such prepayment and (subject to <u>Section 2.03(a)(ii)</u>) the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Term SOFR Loan shall be accompanied by all accrued interest thereon to such date, together with any additional amounts required pursuant to <u>Section 3.05</u>. In the case of each prepayment of the Loans pursuant to this <u>Section 2.03(a)</u>, the Borrower may in its sole discretion select the Borrowing or Borrowings (and the order of maturity of principal payments) to be repaid, and such payment shall be paid to the Appropriate Lenders in accordance with their respective Pro Rata Shares or other applicable share as provided for under this Agreement. A notice of prepayment may state that such notice is conditioned upon the effectiveness of other credit facilities, indentures or similar agreements or other transactions, in which case such notice may be delayed until such time as such condition is satisfied or revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied (or waived by the Borrower in its sole discretion) and/or rescinded at any time by the Borrower if the Borrower determines in its sole discretion that any or all of such conditions will not be satisfied (or waived).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the payment of any amounts owing pursuant to <u>Section 3.05</u>, upon request of the Borrower, the Borrower may rescind any notice of prepayment under <u>Section 2.03(a)(i)</u> if such prepayment would have resulted from a refinancing of all or a portion of the applicable Facility, which refinancing shall not be consummated or shall otherwise be delayed. Each prepayment of any Class of Term Loans pursuant to this <u>Section 2.03(a)</u> shall be applied in an order of priority as directed by the Borrower (which may be applied to any specific Class, tranche or Facility of Indebtedness) and, absent such direction, shall be applied in direct order of maturity to repayments thereof required pursuant to <u>Section 2.05(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;In the event that, on or prior to the date that is six (6) months following the Closing Date, the Borrower (x) prepays, refinances, substitutes or replaces any Initial Term Loans pursuant to a Repricing Transaction, or (y) effects any amendment, amendment and restatement or other modification of this Agreement resulting in a Repricing Transaction, the Borrower shall pay to the Administrative Agent, for the ratable account of each of the applicable Lenders, (1) in the case of <u>clause (x)</u>, a prepayment premium of one percent (1.0%) of the aggregate principal amount of the Initial Term Loans so prepaid, refinanced, substituted or replaced and (2) in the case of <u>clause (y)</u>, a fee equal to one percent (1.0%) of the aggregate principal amount of the applicable Initial Term Loans amended or otherwise modified pursuant to such amendment. If, on or prior to the six (6) month anniversary of the Closing Date, any Lender that is a Non-Consenting Lender is replaced pursuant to <u>Section 3.07(a)</u> in connection with any amendment, amendment and restatement or other modification of this Agreement resulting in a Repricing Transaction, such Lender (and not any Person who replaces such Lender pursuant to <u>Section 3.07(a)</u>) shall receive its Pro Rata Share (as determined immediately prior to it being so replaced) of the prepayment premium or fee described in the preceding sentence. Such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in any Loan Document to the contrary, so long as no Default or Event of Default has occurred and is continuing, any Loan Party may prepay the outstanding Term Loans (which shall, for the avoidance of doubt, be automatically and permanently canceled immediately upon such prepayment) (or the Borrower may purchase such outstanding Term Loans and immediately cancel them) on the following basis:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;Any Loan Party shall have the right to make a voluntary prepayment of Term Loans at a discount to par pursuant to a Borrower Offer of Specified Discount

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Prepayment, Borrower Solicitation of Discount Range Prepayment Offers or Borrower Solicitation of Discounted Prepayment Offers (any such prepayment, the "**Discounted Term Loan Prepayment**"), in each case made in accordance with this <u>Section 2.03(a)(iv)</u>; *provided* that no Loan Party shall initiate any action under this <u>Section 2.03(a)(iv)</u> in order to make a Discounted Term Loan Prepayment unless (I) at least ten (10) Business Days shall have passed since the consummation of the most recent Discounted Term Loan Prepayment as a result of a prepayment made by a Loan Party on the applicable Discounted Prepayment Effective Date; or (II) at least three (3) Business Days shall have passed since the date the Loan Party was notified that no Lender was willing to accept any prepayment of any Term Loan at the Specified Discount, within the Discount Range or at any discount to par value, as applicable, or in the case of Borrower Solicitation of Discounted Prepayment Offers, the date of any Loan Party's election not to accept any Solicited Discounted Prepayment Offers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the proviso to subsection (A) above, any Loan Party may from time to time offer to make a Discounted Term Loan Prepayment by providing the Auction Agent with five (5) Business Days' notice in the form of a Specified Discount Prepayment Notice; *provided* that (I) any such offer shall be made available, at the sole discretion of the Loan Party, to (x) each Lender and/or (y) each Lender with respect to any Class of Term Loans on an individual tranche basis, (II) any such offer shall specify the aggregate principal amount offered to be prepaid (the "**Specified Discount Prepayment Amount**") with respect to each applicable tranche, the tranche or tranches of Term Loans subject to such offer and the specific percentage discount to par (the "**Specified Discount**") of such Term Loans to be prepaid (it being understood that different Specified Discounts and/or Specified Discount Prepayment Amounts may be offered with respect to different tranches of Term Loans and, in such event, each such offer will be treated as a separate offer pursuant to the terms of this <u>Section 2.03(a)(iv)(B)</u>), (III) the Specified Discount Prepayment Amount shall be in an aggregate amount not less than, in the case of Term SOFR Loans, $1,000,000 and whole increments of $1,000,000 in excess thereof and, in the case of Base Rate Loans, $1,000,000 and whole increments of $250,000 in excess thereof, and (IV) each such offer shall remain outstanding through the Specified Discount Prepayment Response Date. The Auction Agent will promptly provide each Appropriate Lender with a copy of such Specified Discount Prepayment Notice and a form of the Specified Discount Prepayment Response to be completed and returned by each such Lender to the Auction Agent (or its delegate) by no later than 5:00 p.m. (New York City time), on the third Business Day after the date of delivery of such notice to such Lenders (the "**Specified Discount Prepayment Response Date**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender receiving such offer shall notify the Auction Agent (or its delegate) by the Specified Discount Prepayment Response Date whether or not it agrees to accept a prepayment of any of its applicable then outstanding Term Loans at the Specified Discount and, if so (such accepting Lender, a "**Discount Prepayment Accepting Lender**"), the amount and the tranches of such Lender's Term Loans to be prepaid at such offered discount. Each

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acceptance of a Discounted Term Loan Prepayment by a Discount Prepayment Accepting Lender shall be irrevocable. Any Lender whose Specified Discount Prepayment Response is not received by the Auction Agent by the Specified Discount Prepayment Response Date shall be deemed to have declined to accept the applicable Borrower Offer of Specified Discount Prepayment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;If there is at least one Discount Prepayment Accepting Lender, the relevant Loan Party will make a prepayment of outstanding Term Loans pursuant to this paragraph (B) to each Discount Prepayment Accepting Lender in accordance with the respective outstanding amount and tranches of Term Loans specified in such Lender's Specified Discount Prepayment Response given pursuant to subsection (2) above; *provided* that, if the aggregate principal amount of Term Loans accepted for prepayment by all Discount Prepayment Accepting Lenders exceeds the Specified Discount Prepayment Amount, such prepayment shall be made *pro rata* among the Discount Prepayment Accepting Lenders in accordance with the respective principal amounts accepted to be prepaid by each such Discount Prepayment Accepting Lender and the Auction Agent (in consultation with such Loan Party and subject to rounding requirements of the Auction Agent made in its reasonable discretion) will calculate such proration (the "**Specified Discount Proration**"). The Auction Agent shall promptly, and in any case within three (3) Business Days following the Specified Discount Prepayment Response Date, notify (I) the relevant Loan Party of the respective Lenders' responses to such offer, the Discounted Prepayment Effective Date and the aggregate principal amount of the Discounted Term Loan Prepayment and the tranches to be prepaid, (II) each Lender of the Discounted Prepayment Effective Date, and the aggregate principal amount and the tranches of Term Loans to be prepaid at the Specified Discount on such date and (III) each Discount Prepayment Accepting Lender of the Specified Discount Proration, if any, and confirmation of the principal amount, tranche and Type of Term Loans of such Lender to be prepaid at the Specified Discount on such date. Each determination by the Auction Agent of the amounts stated in the foregoing notices to the Loan Party and such Lenders shall be conclusive and binding for all purposes absent manifest error. The payment amount specified in such notice to the Loan Party shall be due and payable by such Loan Party on the Discounted Prepayment Effective Date in accordance with subsection (F) below (subject to subsection (J) below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the proviso to subsection (A) above, any Loan Party may from time to time solicit Discount Range Prepayment Offers by providing the Auction Agent with five (5) Business Days' notice in the form of a Discount Range Prepayment Notice; *provided* that (I) any such solicitation shall be extended, at the sole discretion of such Loan Party, to (x) each Lender and/or (y) each Lender with respect to any Class of Term Loans on an individual tranche basis, (II) any such notice shall specify the maximum aggregate principal amount of the relevant Term Loans (the "**Discount Range Prepayment Amount**"), the tranche or tranches of Term Loans subject to such offer and the maximum and minimum percentage discounts to par (the "**Discount Range**") of the principal

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amount of such Term Loans with respect to each relevant tranche of Term Loans willing to be prepaid by such Loan Party (it being understood that different Discount Ranges and/or Discount Range Prepayment Amounts may be offered with respect to different tranches of Term Loans and, in such event, each such offer will be treated as a separate offer pursuant to the terms of this <u>Section 2.03(a)(iv)(C)</u>), (III) the Discount Range Prepayment Amount shall be in an aggregate amount not less than, in the case of Term SOFR Loans. $1,000,000 and whole increments of $1,000,000 in excess thereof and, in the case of Base Rate Loans, $1,000,000 and whole increments of $250,000 in excess thereof, and (IV) each such solicitation by a Loan Party shall remain outstanding through the Discount Range Prepayment Response Date. The Auction Agent will promptly provide each Appropriate Lender with a copy of such Discount Range Prepayment Notice and a form of the Discount Range Prepayment Offer to be submitted by a responding Lender to the Auction Agent (or its delegate) by no later than 5:00 p.m., on the third Business Day after the date of delivery of such notice to such Lenders (the "**Discount Range Prepayment Response Date"**). Each Lender's Discount Range Prepayment Offer shall be irrevocable and shall specify a discount to par within the Discount Range (the "**Submitted Discount**") at which such Lender is willing to allow prepayment of any or all of its then outstanding Term Loans of the applicable tranche or tranches and the maximum aggregate principal amount and tranches of such Lender's Term Loans (the "**Submitted Amount**") such Lender is willing to have prepaid at the Submitted Discount. Any Lender whose Discount Range Prepayment Offer is not received by the Auction Agent by the Discount Range Prepayment Response Date shall be deemed to have declined to accept a Discounted Term Loan Prepayment of any of its Term Loans at any discount to their par value within the Discount Range.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;The Auction Agent shall review all Discount Range Prepayment Offers received on or before the applicable Discount Range Prepayment Response Date and shall determine (in consultation with such Loan Party and subject to rounding requirements of the Auction Agent made in its sole reasonable discretion) the Applicable Discount and Term Loans to be prepaid at such Applicable Discount in accordance with this subsection (C). The relevant Loan Party agrees to accept on the Discount Range Prepayment Response Date all Discount Range Prepayment Offers received by Auction Agent by the Discount Range Prepayment Response Date, in the order from the Submitted Discount that is the largest discount to par to the Submitted Discount that is the smallest discount to par, up to and including the Submitted Discount that is the smallest discount to par within the Discount Range (such Submitted Discount that is the smallest discount to par within the Discount Range being referred to as the "**Applicable Discount**") which yields a Discounted Term Loan Prepayment in an aggregate principal amount equal to the lower of (I) the Discount Range Prepayment Amount and (II) the *sum* of all Submitted Amounts. Each Lender that has submitted a Discount Range Prepayment Offer to accept prepayment at a discount to par that is larger than or equal to the Applicable Discount shall be deemed to have irrevocably consented to prepayment of Term Loans equal to its Submitted Amount (subject to any required proration pursuant to the following subsection (3)) at the Applicable Discount (each such Lender, a "**Participating Lender**").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;If there is at least one Participating Lender, the relevant Loan Party will prepay the respective outstanding Term Loans of each Participating Lender in the aggregate principal amount and of the tranches specified in such Lender's Discount Range Prepayment Offer at the Applicable Discount; *provided* that if the Submitted Amount by all Participating Lenders offered at a discount to par greater than or equal to the Applicable Discount exceeds the Discount Range Prepayment Amount, prepayment of the principal amount of the relevant Term Loans for those Participating Lenders whose Submitted Discount is a discount to par greater than or equal to the Applicable Discount (the "**Identified Participating Lenders**") shall be made *pro rata* among the Identified Participating Lenders in accordance with the Submitted Amount of each such Identified Participating Lender and the Auction Agent (in consultation with such Loan Party and subject to rounding requirements of the Auction Agent made in its sole reasonable discretion) will calculate such proration (the "**Discount Range Proration**"). The Auction Agent shall promptly, and in any case within five (5) Business Days following the Discount Range Prepayment Response Date, notify (I) the relevant Loan Party of the respective Lenders' responses to such solicitation, the Discounted Prepayment Effective Date, the Applicable Discount, and the aggregate principal amount of the Discounted Term Loan Prepayment and the tranches to be prepaid, (II) each Lender of the Discounted Prepayment Effective Date, the Applicable Discount, and the aggregate principal amount and tranches of Term Loans to be prepaid at the Applicable Discount on such date, (III) each Participating Lender of the aggregate principal amount and tranches of such Lender to be prepaid at the Applicable Discount on such date, and (IV) if applicable, each Identified Participating Lender of the Discount Range Proration. Each determination by the Auction Agent of the amounts stated in the foregoing notices to the relevant Loan Party and Lenders shall be conclusive and binding for all purposes absent manifest error. The payment amount specified in such notice to the Loan Party shall be due and payable by such Loan Party on the Discounted Prepayment Effective Date in accordance with subsection (F) below (subject to subsection (J) below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the proviso to subsection (A) above, any Loan Party may from time to time solicit Solicited Discounted Prepayment Offers by providing the Auction Agent with five (5) Business Days' notice in the form of a Solicited Discounted Prepayment Notice; *provided* that (I) any such solicitation shall be extended, at the sole discretion of such Loan Party, to (x) each Lender and/or (y) each Lender with respect to any Class of Term Loans on an individual tranche basis, (II) any such notice shall specify the maximum aggregate amount of the Term Loans (the "**Solicited Discounted Prepayment Amount**") and the tranche or tranches of Term Loans the applicable Loan Party is willing to prepay at a discount (it being understood that different Solicited Discounted Prepayment Amounts may be offered with respect to different tranches of Term Loans and, in such event, each such offer will be treated as separate offer pursuant to the terms of this <u>Section 2.03(a)(iv)(D)</u>), (III) the Solicited Discounted Prepayment Amount shall be in an aggregate amount not less than, in the case of Term SOFR Loans. $1,000,000 and whole increments of $1,000,000 in excess thereof and, in

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the case of Base Rate Loans, $1,000,000 and whole increments of $250,000 in excess thereof, and (IV) each such solicitation by a Loan Party shall remain outstanding through the Solicited Discounted Prepayment Response Date. The Auction Agent will promptly provide each Appropriate Lender with a copy of such Solicited Discounted Prepayment Notice and a form of the Solicited Discounted Prepayment Offer to be submitted by a responding Lender to the Auction Agent (or its delegate) by no later than 5:00 p.m. (New York City time), on the third Business Day after the date of delivery of such notice to such Lenders (the "**Solicited Discounted Prepayment Response Date**"). Each Lender's Solicited Discounted Prepayment Offer shall (x) be irrevocable, (y) remain outstanding until the Acceptance Date and (z) specify both a discount to par (the "**Offered Discount**") at which such Lender is willing to allow prepayment of its then outstanding Term Loan and the maximum aggregate principal amount and tranches of such Term Loans (the "**Offered Amount**") such Lender is willing to have prepaid at the Offered Discount. Any Lender whose Solicited Discounted Prepayment Offer is not received by the Auction Agent by the Solicited Discounted Prepayment Response Date shall be deemed to have declined prepayment of any of its Term Loans at any discount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;The Auction Agent shall promptly provide the relevant Loan Party with a copy of all Solicited Discounted Prepayment Offers received on or before the Solicited Discounted Prepayment Response Date. Such Loan Party shall review all such Solicited Discounted Prepayment Offers and select the largest of the Offered Discounts specified by the relevant responding Lenders in the Solicited Discounted Prepayment Offers that is acceptable to the Loan Party (the "**Acceptable Discount**"), if any. If the Loan Party elects to accept any Offered Discount as the Acceptable Discount, then as soon as practicable after the determination of the Acceptable Discount, but in no event later than by the third Business Day after the date of receipt by such Loan Party from the Auction Agent of a copy of all Solicited Discounted Prepayment Offers pursuant to the first sentence of this subsection (2) (the "**Acceptance Date**"), the Loan Party shall submit an Acceptance and Prepayment Notice to the Auction Agent setting forth the Acceptable Discount. If the Auction Agent shall fail to receive an Acceptance and Prepayment Notice from the Loan Party by the Acceptance Date, such Loan Party shall be deemed to have rejected all Solicited Discounted Prepayment Offers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;Based upon the Acceptable Discount and the Solicited Discounted Prepayment Offers received by Auction Agent by the Solicited Discounted Prepayment Response Date, within three (3) Business Days after receipt of an Acceptance and Prepayment Notice (the "**Discounted Prepayment Determination Date**"), the Auction Agent will determine (in consultation with such Loan Party and subject to rounding requirements of the Auction Agent made in its sole reasonable discretion) the aggregate principal amount and the tranches of Term Loans (the "**Acceptable Prepayment Amount**") to be prepaid by the relevant Loan Party at the Acceptable Discount in accordance with this <u>Section 2.03(a)(iv)(D)</u>. If the Loan Party elects to accept any Acceptable Discount, then the Loan Party agrees to accept all Solicited Discounted Prepayment Offers received by Auction Agent by the Solicited Discounted

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Prepayment Response Date, in the order from largest Offered Discount to smallest Offered Discount, up to and including the Acceptable Discount. Each Lender that has submitted a Solicited Discounted Prepayment Offer with an Offered Discount that is greater than or equal to the Acceptable Discount shall be deemed to have irrevocably consented to prepayment of Term Loans equal to its Offered Amount (subject to any required pro-rata reduction pursuant to the following sentence) at the Acceptable Discount (each such Lender, a "**Qualifying Lender**"). The Loan Party will prepay outstanding Term Loans pursuant to this subsection (D) to each Qualifying Lender in the aggregate principal amount and of the tranches specified in such Lender's Solicited Discounted Prepayment Offer at the Acceptable Discount; *provided* that if the aggregate Offered Amount by all Qualifying Lenders whose Offered Discount is greater than or equal to the Acceptable Discount exceeds the Solicited Discounted Prepayment Amount, prepayment of the principal amount of the Term Loans for those Qualifying Lenders whose Offered Discount is greater than or equal to the Acceptable Discount (the "**Identified Qualifying Lenders**") shall be made *pro rata* among the Identified Qualifying Lenders in accordance with the Offered Amount of each such Identified Qualifying Lender and the Auction Agent (in consultation with such Loan Party and subject to rounding requirements of the Auction Agent made in its sole reasonable discretion) will calculate such proration (the "**Solicited Discount Proration**"). On or prior to the Discounted Prepayment Determination Date, the Auction Agent shall promptly notify (I) the relevant Loan Party of the Discounted Prepayment Effective Date and Acceptable Prepayment Amount comprising the Discounted Term Loan Prepayment and the tranches to be prepaid, (II) each Lender of the Discounted Prepayment Effective Date, the Acceptable Discount, and the Acceptable Prepayment Amount of all Term Loans and the tranches to be prepaid at the Applicable Discount on such date, (III) each Qualifying Lender of the aggregate principal amount and the tranches of such Lender to be prepaid at the Acceptable Discount on such date, and (IV) if applicable, each Identified Qualifying Lender of the Solicited Discount Proration. Each determination by the Auction Agent of the amounts stated in the foregoing notices to such Loan Party and Lenders shall be conclusive and binding for all purposes absent manifest error. The payment amount specified in such notice to such Loan Party shall be due and payable by such Loan Party on the Discounted Prepayment Effective Date in accordance with subsection (F) below (subject to subsection (J) below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;In connection with any Discounted Term Loan Prepayment, the Loan Parties and the Lenders acknowledge and agree that the Auction Agent may require as a condition to any Discounted Term Loan Prepayment, the payment of customary fees and expenses from a Loan Party in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;If any Term Loan is prepaid in accordance with paragraphs (B) through (D) above, a Loan Party shall prepay such Term Loans on the Discounted Prepayment Effective Date. The relevant Loan Party shall make such prepayment to the Administrative Agent, for the account of the Discount Prepayment Accepting Lenders, Participating Lenders, or Qualifying Lenders, as applicable, at the Administrative Agent's Office in immediately available funds not later than 11:00 a.m. (New York City time) on the Discounted Prepayment Effective Date and all such prepayments shall be applied to

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the remaining principal installments of the relevant tranche of Loans on a pro-rata basis across such installments. The Term Loans so prepaid shall be accompanied by all accrued and unpaid interest on the par principal amount so prepaid up to, but not including, the Discounted Prepayment Effective Date. Each prepayment of the outstanding Term Loans pursuant to this <u>Section 2.03(a)(iv)</u> shall be paid to the Discount Prepayment Accepting Lenders, Participating Lenders, or Qualifying Lenders, as applicable, and shall be applied to the relevant Loans of such Lenders in accordance with their respective Pro Rata Share. The aggregate principal amount of the tranches and installments of the relevant Term Loans outstanding shall be deemed reduced by the full par value of the aggregate principal amount of the tranches of Term Loans prepaid on the Discounted Prepayment Effective Date in any Discounted Term Loan Prepayment. In connection with each prepayment pursuant to this <u>Section 2.03(a)(iv)</u>, the relevant Loan Party shall waive any right to bring any action against the Administrative Agent, in its capacity as such, in connection with any such Discounted Term Loan Prepayment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G)&nbsp;&nbsp;&nbsp;&nbsp;To the extent not expressly provided for herein, each Discounted Term Loan Prepayment shall be consummated pursuant to procedures consistent with the provisions in this <u>Section 2.03(a)(iv)</u>, established by the Auction Agent acting in its reasonable discretion and as reasonably agreed by the applicable Loan Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in any Loan Document to the contrary, for purposes of this <u>Section 2.03(a)(iv)</u>, each notice or other communication required to be delivered or otherwise provided to the Auction Agent (or its delegate) shall be deemed to have been given upon Auction Agent's (or its delegate's) actual receipt during normal business hours of such notice or communication; *provided* that any notice or communication actually received outside of normal business hours shall be deemed to have been given as of the opening of business on the next Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I)&nbsp;&nbsp;&nbsp;&nbsp;Each Loan Party and the Lenders acknowledge and agree that the Auction Agent may perform any and all of its duties under this <u>Section 2.03(a)(iv)</u> by itself or through any Affiliate of the Auction Agent and expressly consents to any such delegation of duties by the Auction Agent to such Affiliate and the performance of such delegated duties by such Affiliate. The exculpatory provisions pursuant to this Agreement shall apply to each Affiliate of the Auction Agent and its respective activities in connection with any Discounted Term Loan Prepayment provided for in this <u>Section 2.03(a)(iv)</u> as well as activities of the Auction Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(J)&nbsp;&nbsp;&nbsp;&nbsp;Each Loan Party shall have the right, by written notice to the Auction Agent, to revoke in full (but not in part) its offer to make a Discounted Term Loan Prepayment and rescind the applicable Specified Discount Prepayment Notice, Discount Range Prepayment Notice or Solicited Discounted Prepayment Notice therefor at its discretion at any time on or prior to the applicable Specified Discount Prepayment Response Date (and if such offer is revoked pursuant to the preceding clauses, any failure by such Loan Party to make any prepayment to a Lender, as applicable, pursuant to this <u>Section 2.03(a)(iv)</u> shall not constitute a Default or Event of Default under <u>Section 8.01</u> or otherwise).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Mandatory*.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;On, or no later than the date that is ten Business Days after, each Quarterly Payment Date, commencing with the first Quarterly Payment Date to occur after the Conversion Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall cause to be offered to be prepaid (in accordance with <u>Section 2.03(b)(vi)</u>) an aggregate principal amount of Term Loans, to the extent of available funds under Section 5.03(a)(viii) of the Security and Depositary Agreement, in an amount such that after giving effect thereto, the outstanding principal amount of all Parity Lien Debt does not exceed the amount corresponding to the applicable Quarterly Date set forth on the Target Debt Balance Schedule (such amount, with respect to such Quarterly Payment Date, as it may be increased pursuant to a Target Debt Balance Amount Adjustment, the "**Target Debt Balance Amount**"); *provided*, that if at the time that any such prepayment would be required, the Borrower is required to offer to repurchase or make a payment with respect to any other Parity Lien Debt with such Target Debt Balance Amount, then the Borrower may apply such Target Debt Balance Amount on a *pro rata* basis to the Term Loan and other Parity Lien Debt determined on the basis of the aggregate outstanding principal amount of the Term Loans and other Parity Lien Debt at such time; *provided, further*, that (1) the portion of such Target Debt Balance Amount allocated to other Parity Lien Debt shall not exceed the amount of such Target Debt Balance Amount required to be allocated to other Parity Lien Debt pursuant to the terms thereof, the remaining amount, if any, of such Target Debt Balance Amount shall be allocated to the Term Loans in accordance with the terms hereof, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this <u>Section 2.03(b)(i)(A)</u> shall be reduced accordingly and (2) to the extent the holders of other Parity Lien Debt decline to have such indebtedness repurchased or prepaid, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of such rejection) be offered to prepay the Term Loans in accordance with the terms hereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall cause to be offered to be prepaid (in accordance with <u>Section 2.03(b)(vi)</u>) an aggregate principal amount of Term Loans in an amount equal to one hundred percent (100%) of any amount that has been on deposit in a Distribution Reserve Account for a period of six (6) full consecutive fiscal quarters following the Conversion Date if the Borrower has failed to declare or make any Restricted Payment during such time due to the inability to satisfy the Distribution Conditions (the "**Distribution Reserve Prepayment Amount**"); *provided*, that if at the time that any such prepayment would be required, the Borrower is required to offer to repurchase any other Parity Lien Debt with the Distribution Reserve Prepayment Amount, then the Borrower may apply the Distribution Reserve Prepayment Amount on a *pro rata* basis to the Term Loans and other Parity Lien Debt (determined on the basis of the aggregate outstanding principal amount of the Term Loans and other Parity Lien Debt at such time); *provided*, further, that (1) the portion of the Distribution Reserve Prepayment Amount allocated to other Parity Lien Debt shall not exceed the amount of the Distribution Reserve Prepayment Amount required to be allocated to other Parity Lien Debt pursuant to the terms thereof, the remaining amount, if any, of the Distribution Reserve Prepayment Amount shall be allocated to the Term Loans in accordance with the terms hereof, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this <u>Section 2.03(b)(i)(B)</u> shall be reduced accordingly and (2) to the extent the holders of the other Parity Lien Debt decline to have such indebtedness

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repurchased or prepaid, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of such rejection) on a *pro rata* basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and such other Parity Lien Debt at such time) prepay the Term Loans and any other Parity Lien Debt that requires the same, in accordance with the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Within ten (10) Business Days:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;after the date of the realization or receipt by the Borrower of Net Proceeds of Dispositions pursuant to <u>Section 7.05(a)</u> or <u>7.05(g)</u> or from any Casualty Event of the Borrower, in each case in excess of $50,000,000, the Borrower shall apply such proceeds in accordance with Section 5.07 of the Security and Depositary Agreement and, if such section requires a prepayment, cause to be offered to be prepaid (in accordance with <u>Section 2.03(b)(vi)</u>) such Net Proceeds to the prepayment of Term Loans in accordance with Section 5.07 of the Security and Depositary Agreement; *provided*, that if at the time that any such prepayment would be required, the Borrower is required to offer to repurchase any other Parity Lien Debt, then the Borrower may apply such Net Proceeds on a *pro rata* basis to the Term Loans and other Parity Lien Debt (determined on the basis of the aggregate outstanding principal amount of the Term Loans and other Parity Lien Debt at such time); *provided*, further, that (A) the portion of such Net Proceeds allocated to other Parity Lien Debt, as applicable, shall not exceed the amount of such Net Proceeds required to be allocated to other Parity Lien Debt, pursuant to the terms thereof, the remaining amount, if any, of such Net Proceeds shall be allocated to the Term Loans in accordance with the terms hereof, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this <u>Section 2.03(b)(ii)(A)</u> shall be reduced accordingly and (B) to the extent the holders of other Parity Lien Debt decline to have such indebtedness repurchased or prepaid, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of such rejection) on a *pro rata* basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and such other Parity Lien Debt at such time) prepay the Term Loans and any other Parity Lien Debt that requires the same, in accordance with the terms hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;after the date of receipt by the Borrower of Net Proceeds received from the incurrence or issuance of any Indebtedness after the Closing Date (other than Permitted Indebtedness), the Borrower shall cause to be offered to be prepaid (in accordance with <u>Section 2.03(b)(vi)</u>) an aggregate principal amount of Term Loans in an amount equal to one hundred percent (100.0%) of such Net Proceeds; *provided*, that if at the time that any such prepayment would be required, the Borrower is required to offer to repurchase any other Parity Lien Debt, then the Borrower may apply such Net Proceeds on a *pro rata* basis to the Term Loans and other Parity Lien Debt (determined on the basis of the aggregate outstanding principal amount of the Term Loans and other Parity Lien Debt at such time); *provided*, further, that (A) the portion of such Net Proceeds allocated to other Parity Lien Debt, as applicable, shall not exceed the amount of such Net Proceeds required to be allocated to other Parity Lien Debt, pursuant to the terms thereof, the remaining amount, if any, of such Net Proceeds shall be allocated to the Term Loans in accordance with the terms hereof, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this <u>Section 2.03(b)(ii)(B)</u> shall be reduced accordingly and (B) to the extent the holders of other Parity Lien Debt

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decline to have such indebtedness repurchased or prepaid, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of such rejection) on a *pro rata* basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and such other Parity Lien Debt at such time) prepay the Term Loans and any other Parity Lien Debt that requires the same, in accordance with the terms hereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;after the date of receipt of any amounts received as termination payments or performance liquidated damages under any Material Project Document in excess of $50,000,000 in the aggregate (such amount in excess of such threshold, the "**Termination Prepayment Amount**"), the Borrower shall cause to be offered to be prepaid (in accordance with <u>Section 2.03(b)(vi)</u>), an aggregate principal amount of Term Loans in an amount equal to one hundred percent (100.0%) of the Termination Prepayment Amount received; *provided,* that the Borrower shall not be required to prepay the Term Loans pursuant to this <u>Section 2.03(b)(ii)(C)</u> to the extent that the Borrower applies the same to (A) offset any liquidated damages owed by the Borrower to any Construction Contractor under other Construction Contracts or (B) reinvest in assets which are necessary or useful for the Project (*provided*, that such construction or repair is reasonably related to cure the events or circumstances that gave rise to the payment of such liquidated damages), in each case pursuant to a transaction not prohibited hereunder, and the proceeds are so retained are reinvested, or committed to be reinvested pursuant to a binding agreement, within eighteen (18) months of the occurrence of receipt of such amounts (and if so committed to be reinvested, within six month thereof), and any non-reinvested portion of such amounts in excess of $50,000,000 in the aggregate shall be promptly applied to prepayments as contemplated in this <u>Section 2.03(b)(ii)(C)</u>; *provided*, that if at the time that any such prepayment would be required, the Borrower is required to offer to repurchase any other Parity Lien Debt with the Termination Prepayment Amount, then the Borrower may apply the Termination Prepayment Amount on a *pro rata* basis to the Term Loans and other Parity Lien Debt (determined on the basis of the aggregate outstanding principal amount of the Term Loans and other Parity Lien Debt at such time); *provided*, further, that (A) the portion of the Termination Prepayment Amount allocated to other Parity Lien Debt shall not exceed the amount of the Termination Prepayment Amount required to be allocated to other Parity Lien Debt pursuant to the terms thereof, the remaining amount, if any, of the Termination Prepayment Amount shall be allocated to the Term Loans in accordance with the terms hereof, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this <u>Section 2.03(b)(ii)(C)</u> shall be reduced accordingly and (B) to the extent the holders of other Parity Lien Debt decline to have such indebtedness repurchased or prepaid, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of such rejection) on a *pro rata* basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and such other Parity Lien Debt at such time) prepay the Term Loans and any other Parity Lien Debt that requires the same, in accordance with the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Except with respect to Loans incurred in connection with any Refinancing Amendment, Term Loan Extension Request or any Incremental Amendment (which may be prepaid on a less than *pro rata* basis in accordance with its terms) and subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement), (A) each prepayment of Term Loans pursuant to this <u>Section 2.03(b)</u> shall be applied as between

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series, Classes or tranches of Term Loans as directed by the Borrower (*provided* that (1) any prepayment of Term Loans with the Net Proceeds of Credit Agreement Refinancing Indebtedness shall be applied solely to each applicable Class of Refinanced Debt and (2) subject to clause (1), mandatory prepayments may not be directed to a series, Class or tranche of Term Loans with a later maturity date without at least a pro rata repayment of each series, Class or tranche of Term Loans with an earlier maturity date); (B) with respect to each Class of Term Loans, each prepayment pursuant to <u>clauses (i)</u> and <u>(ii)</u> of this <u>Section 2.03(b)</u> shall be applied to the scheduled installments of principal thereof following the date of prepayment pursuant to <u>Section 2.03(a)</u> as directed by the Borrower (without premium or penalty) and, absent such direction, shall be applied in direct order of maturity and (C) each such prepayment shall be paid to the Lenders in accordance with their respective Pro Rata Shares of such prepayment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall notify the Administrative Agent in <br>writing of any mandatory prepayment of Term Loans required to be made pursuant to <u>clauses (i)</u> and <u>(ii)</u> of this <u>Section 2.03(b)</u> at least five (5) Business Days prior to the date of such prepayment (or such shorter time as the Administrative Agent may agree). Each such notice shall specify the date of such prepayment and provide a reasonably detailed calculation of the amount of such prepayment. The Administrative Agent will promptly notify each Appropriate Lender of the contents of the Borrower's prepayment notice and of such Appropriate Lender's Pro Rata Share of the prepayment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;*Funding Losses, Etc.* All prepayments under this <u>Section 2.03</u> shall be made together with, in the case of any such prepayment of a Term SOFR Loan on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Term SOFR Loan pursuant to <u>Section 3.05</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;*Term Opt-out of Prepayment*. With respect to each prepayment of Term Loans required pursuant to this <u>Section 2.03(b)</u>, (A) the Borrower will, not later than the date specified in <u>Sections 2.03(b)(iv)</u>, give the Administrative Agent telephonic notice (promptly confirmed in writing) requesting that the Administrative Agent provide notice of such offer of prepayment to each Appropriate Lender, (B) the Administrative Agent shall provide notice of such offer of prepayment to each Appropriate Lender, (C) each Appropriate Lender has the right to refuse such offer of prepayment by giving written notice of such refusal to the Administrative Agent within one (1) Business Day after such Lender's receipt of notice from the Administrative Agent of such offer of prepayment (any such refused amounts, "**Declined Proceeds**"), and (D) the applicable Borrower shall make all such prepayments (other than Declined Proceeds) promptly thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;Subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement), in connection with any mandatory prepayments by the Borrower of the Term Loans pursuant to this <u>Section 2.03(b)</u>, such prepayments shall be applied on a *pro rata* basis to the then outstanding Term Loans of the applicable Class or Classes being prepaid irrespective of whether such outstanding Term Loans are Base Rate Loans or Term SOFR Loans; *provided* that with respect to such mandatory prepayment, the amount of such mandatory prepayment within any tranche of Term Loans shall be applied first to Term Loans of such tranche that are Base Rate Loans to the full extent thereof before application to Term Loans of such tranche that are Term SOFR Loans in a manner that minimizes the amount of any payments required to be made by the Borrower pursuant to <u>Section 3.05</u>; *provided, further*, that, in the event that any Lender has waived its right to prepayment pursuant to <u>Section 2.03(b)(vi)</u>, then such Lender shall be excluded from the pro rata application of such prepayment.

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Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination or Reduction of Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Optional.* The Borrower may, upon irrevocable written notice from the Borrower to the Administrative Agent, terminate the unused Commitments of any Class, or from time to time permanently reduce the unused Commitments of any Class, in each case without premium or penalty; *provided* that (i) any such notice shall be received by the Administrative Agent three (3) Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in a minimum aggregate amount of $100,000, as applicable, or any whole multiple of $100,000, in excess thereof. Notwithstanding the foregoing, the Borrower may rescind or postpone any notice of termination of the Commitments if such termination would have resulted from a refinancing of all of the applicable Facility, which refinancing shall not be consummated or otherwise shall be delayed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Mandatory.* The Initial Term Commitment of each Lender shall be automatically and permanently reduced to $0 upon the funding of Initial Term Loans to be made by it on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Application of Commitment Reductions; Payment of Fees.* The Administrative Agent will promptly notify the Appropriate Lenders of any termination or reduction of unused portions of the unused Commitments of any Class under this <u>Section 2.04</u>. Upon any reduction of unused Commitments of any Class, the Commitment of each Lender of such Class shall be reduced by such Lender's Pro Rata Share of the amount by which such Commitments are reduced (other than the termination of the Commitment of any Lender as provided in <u>Section 3.07</u>). All commitment fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

Section 2.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Repayment of Loans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Term Loans.* The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders (i) with respect to each fiscal quarter, no later than the Quarterly Payment Date with respect to such fiscal quarter, commencing with the Quarterly Payment Date with respect to the first full fiscal quarter after the Closing Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of the Initial Term Loans outstanding on the Closing Date and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date; *provided* that payments required by <u>Section 2.05(a)(i)</u> above shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in <u>Section 2.03(b)</u>. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof. For the avoidance of doubt, the full amount of the Loans (without taking into account any netting of the OID Amount occurring on the Closing Date) shall be repaid in accordance with this <u>Section 2.05</u> and <u>Section 2.03</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the event that, prior to the incurrence of any Incremental Term Loans, the Initial Term Loans or any existing Incremental Term Loans have scheduled amortization payments under <u>Section 2.05(a)(i)</u> (or other equivalent section) that are less than 0.25% of the aggregate principal amount of such existing Term Loans when initially incurred, then at the Borrower's option, (x) the scheduled amortization payments of such existing Term Loans on the effective date of such Incremental Term Loans shall be increased to be equal quarterly installments of principal equal to 0.25% of the aggregate principal amount of such existing Term Loans originally incurred or (y) the scheduled amortization payment of the Incremental Term Loans shall equal such smaller percentage applicable to the existing Term Loans on

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such scheduled amortization payment date(s) (reflected as a percentage of the aggregate principal amount of such Incremental Term Loans), so long as, in the event this clause (y) is applicable, and for the avoidance of doubt, such percentage is expressly set forth in the Incremental Amendment with respect to such Incremental Term Loans.

Section 2.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of <u>Section 2.06(b)</u>, (i) each Term SOFR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate *per annum* equal to Term SOFR for such Interest Period *plus* the Applicable Rate and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate *plus* the Applicable Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;During the continuance of an Event of Default under <u>Section 8.01(a)</u>, the Borrower shall pay interest on past due principal or interest owing by it hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws; *provided* that no interest at the Default Rate shall accrue or be payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Accrued and unpaid interest on such amounts (including interest on past due interest) shall be due and payable upon demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto, upon any prepayment in respect thereof and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. For the avoidance of doubt, interest shall be payable on the full amount of the Loans (without taking into account any netting of the OID Amount occurring on the Closing Date) in accordance with this <u>Section 2.06</u>.

Section 2.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Fees</u>. The Borrower shall pay to the Administrative Agent (for the account of the parties entitled thereto) such fees as shall have been separately agreed upon in writing in the amounts and at the times so specified (including all fees under the Fee Letters that are payable pursuant to the terms thereof). Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever (except as expressly agreed between the Borrower and the applicable Agent).

Section 2.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Computation of Interest and Fees</u>. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of three hundred sixty-five (365) days, or three hundred sixty-six (366) days, as applicable, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a three hundred sixty (360) day year and actual days elapsed. Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; *provided* that any Loan that is repaid on the same day on which it is made shall, subject to <u>Section 2.10(a)</u>, bear interest for one (1) day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Section 2.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Evidence of Indebtedness</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrowings made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by

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the Administrative Agent and each Lender shall be *prima facie* evidence absent manifest error of the amount of the Loans made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the Register and the corresponding accounts and records of the Administrative Agent in respect of such matters, the Register and the corresponding accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender or its registered assigns, which shall evidence such Lender's Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and record thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. Upon Payment in Full, each Note shall be deemed automatically terminated, canceled and of no further force or effect. Upon request of the Borrower, the Lenders shall return such Notes to the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Entries made in good faith by the Administrative Agent in the Register pursuant to <u>Section 2.09(a)</u>, and by each Lender in its account or accounts pursuant to <u>Section 2.09(a)</u>, shall be *prima facie* evidence of the amount of principal and interest due and payable or to become due and payable from the Borrower to, in the case of the Register, each Lender and, in the case of such account or accounts, such Lender, under this Agreement and the other Loan Documents, absent manifest error; *provided* that the failure of the Administrative Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of the Borrower under this Agreement and the other Loan Documents.

Section 2.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments Generally</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative Agent's Office in Dollars and in Same Day Funds not later than 12:00 noon New York City time on the date specified herein. The Administrative Agent will promptly distribute to each Appropriate Lender its Pro Rata Share (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender's applicable Lending Office. All payments received by the Administrative Agent after 12:00 noon New York City time shall in each case be deemed received on the next succeeding Business Day, in the Administrative Agent's sole discretion, and any applicable interest or fee shall continue to accrue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided herein, if any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be; *provided* that, if such extension would cause payment of interest on or principal of Term SOFR Loans to be made in the next succeeding calendar month, such payment shall be made on the immediately preceding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Unless the Borrower or any Lender has notified the Administrative Agent, prior to the date any payment is required to be made by it to the Administrative Agent hereunder, that Borrower or such Lender, as the case may be, will not make such payment, the Administrative Agent may assume that Borrower or such Lender, as the case may be, has timely made such payment and may (but shall not be so

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required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and to the extent that such payment was not in fact made to the Administrative Agent in Same Day Funds, then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if Borrower failed to make such payment, each Lender shall forthwith on demand repay to the Administrative Agent the portion of such assumed payment that was made available to such Lender in Same Day Funds, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative Agent to such Lender to the date such amount is repaid to the Administrative Agent in Same Day Funds at the Overnight Bank Funding Rate, *plus* any reasonable administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if any Lender failed to make such payment, such Lender shall forthwith on demand pay to the Administrative Agent the amount thereof in Same Day Funds, together with interest thereon for the period from the date such amount was made available by the Administrative Agent to the Borrower to the date such amount is recovered by the Administrative Agent (the "**Compensation Period**") at a rate *per annum* equal to the Overnight Bank Funding Rate, *plus* any reasonable administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing. When such Lender makes payment to the Administrative Agent (together with all accrued interest thereon), then such payment amount (excluding the amount of any interest which may have accrued and been paid in respect of such late payment) shall constitute such Lender's Loan included in the applicable Borrowing. If such Lender does not pay such amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent may make a demand therefor upon the Borrower, and the Borrower shall pay such amount to the Administrative Agent, together with interest thereon for the Compensation Period at a rate per annum equal to the rate of interest applicable to the applicable Borrowing. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice any rights which the Administrative Agent or the Borrower may have against any Lender as a result of any default by such Lender hereunder.

A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this <u>Section 2.10(c)</u> shall be conclusive, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this <u>Article II</u>, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Borrowing set forth in <u>Article IV</u> or in the applicable Incremental Amendment, Extension Amendment or Refinancing Amendment are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The obligations of the Lenders hereunder to make Loans are several and not joint. The failure of any Lender to make any Loan or to fund any such participation on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan or purchase its participation.

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

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Whenever any payment received by the Administrative Agent under this Agreement or any of the other Loan Documents is insufficient to pay in full all amounts due and payable to the Administrative Agent and the Lenders under or in respect of this Agreement and the other Loan Documents on any date, such payment shall be distributed by the Administrative Agent and applied by the Administrative Agent and the Lenders in the order of priority set forth in <u>Section 8.04</u> (subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement)). If the Administrative Agent receives funds for application to the Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may (to the fullest extent permitted by mandatory provisions of applicable Law), but shall not be obligated to, elect to distribute such funds to each of the Lenders in accordance with such Lender's Pro Rata Share of the Outstanding Amount of all Loans outstanding at such time, in repayment or prepayment of such of the outstanding Loans or other Obligations then owing to such Lender.

Section 2.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Sharing of Payments</u>. If, other than as expressly provided elsewhere herein, any Lender shall obtain on account of the Loans made by it, or any security therefor, any payment or distribution (whether voluntary, involuntary, through the exercise of any right of setoff, or otherwise) in excess of its ratable share (or other share contemplated hereunder) thereof, such Lender shall immediately (a) notify the Administrative Agent of such fact, and (b) purchase from the other Lenders such participations in the Loans made by them as shall be necessary to cause such purchasing Lender to share the excess payment or distribution in respect of such Loans or such participations, as the case may be, *pro rata* with each of them; *provided* that if all or any portion of such excess payment or distribution is thereafter recovered from the purchasing Lender under any of the circumstances described in <u>Section 10.06</u> (including pursuant to any settlement entered into by the purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other Lender shall repay to the purchasing Lender the purchase price paid therefor, together with an amount equal to such paying Lender's ratable share (according to the proportion of (i) the amount of such paying Lender's required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered, without further interest thereon. For avoidance of doubt, the provisions of this paragraph shall not be construed to apply to (A) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement as in effect from time to time (including the application of funds arising from the existence of a Defaulting Lender) or (B) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant permitted hereunder. The Borrower agrees that any Lender so purchasing a participation from another Lender may, to the fullest extent permitted by applicable Law, exercise all its rights of payment (including the right of setoff, but subject to <u>Section 10.09</u>) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation. The Administrative Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased under this <u>Section 2.11</u> and will in each case notify the Lenders following any such purchases or repayments. Each Lender that purchases a participation pursuant to this <u>Section 2.11</u> shall from and after such purchase have the right to give all notices, requests, demands, directions and other communications under this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased.

Section 2.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Incremental Borrowings</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Incremental Term Commitments*. The Borrower may at any time or from time to time after the Closing Date, by notice from the Borrower to the Administrative Agent (an "**Incremental Term Loan Request**"), request one or more new commitments (each, an "**Incremental Term Facility**") which

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may be in the same Facility as any outstanding Term Loans of an existing Class of Term Loans (a "**Term Loan Increase**") or a new Class of Term Loans (collectively with any Term Loan Increase, the "**Incremental Term Commitments**"), whereupon the Administrative Agent shall promptly deliver a copy of such Incremental Term Loan Request to each of the Lenders (except to those Lenders (if any) the Borrower has notified the Administrative Agent that it does not intend to approach for Incremental Term Commitments).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Incremental Term Loans*. Any Incremental Term Commitments effected through the establishment of commitments under an existing Facility under this Agreement or new Term Loans made on an Incremental Term Facility Closing Date shall be designated a separate Class of Incremental Term Commitments for all purposes of this Agreement, except in the case of a Term Loan Increase. On any Incremental Term Facility Closing Date on which any Incremental Term Commitments of any Class are effected (including through any Term Loan Increase), subject to the satisfaction of the terms and conditions in this <u>Section 2.12</u>, (i) each Incremental Term Lender of such Class shall make a Term Loan to the Borrower (or any Loan Party may be designated as a borrower in respect thereof so long as all obligors under such Incremental Term Facility are the same as with respect to the Loans hereunder) (an "**Incremental Term Loan**") in an amount equal to its Incremental Term Commitment of such Class, and (ii) each Incremental Term Lender of such Class shall become a Lender hereunder with respect to the Incremental Term Commitment of such Class and the Incremental Term Loans of such Class made pursuant thereto. Notwithstanding the foregoing, Incremental Term Loans may have identical terms to any of the Term Loans and be treated as the same Class as any of such Term Loans. The Incremental Term Loans shall be funded net of the OID Amount applicable thereto, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Incremental Term Loan Request*. Each Incremental Term Loan Request from the Borrower pursuant to this <u>Section 2.12</u> shall set forth the requested amount and proposed terms of the relevant Incremental Term Loans. Incremental Term Loans may be made by any existing Lender (but each existing Lender will not have an obligation to make any Incremental Term Commitment, nor will the Borrower have any obligation to approach any existing Lenders to provide any Incremental Term Commitment) or by any other bank or other financial institution or other institutional lender (any such other bank or other financial institution or other institutional lender being called an "**Additional Lender**") (each such existing Lender or Additional Lender providing such Incremental Term Commitment, an "**Incremental Term Lender**"); *provided* that (i) with respect to Incremental Term Loans secured by Parity Liens, the Administrative Agent shall have consented (not to be unreasonably withheld, conditioned or delayed) to such Lender's or Additional Lender's making such Incremental Term Loans to the extent such consent, if any, would be required under <u>Section 10.07(b)</u> for an assignment of Loans to such Lender or Additional Lender and (ii) with respect to Incremental Term Commitments, any Affiliated Lender providing an Incremental Term Commitment shall be subject to the same restrictions set forth in <u>Section 10.07(k)</u> as they would otherwise be subject to with respect to any purchase by or assignment to such Affiliated Lender of Term Loans. The Borrower may appoint any Person to arrange any Incremental Term Commitments and provide such Person any titles with respect to such arrangement of Incremental Term Commitments as it deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Effectiveness of Incremental Amendment*. The effectiveness of any Incremental Amendment, and the Incremental Term Commitments thereunder, shall be subject to the satisfaction on the date thereof (the "**Incremental Term Facility Closing Date**") of each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the representations and warranties of each Loan Party set forth in Article V and in each other Loan Document shall be true and correct in all material respects (except that any representation and warranty that is qualified as to "materiality" or "Material Adverse Effect" shall

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be true and correct in all respects as so qualified) on and as of the effective date of such Incremental Amendment with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;immediately before and immediately after giving effect to such Incremental Term Commitments, no Event of Default shall exist and be continuing or would immediately result from such proposed Incremental Term Commitment or from the application of the proceeds therefrom;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;each Incremental Term Commitment shall be in an aggregate principal amount that is not less than $5,000,000 and shall be in an increment of $1,000,000 (*provided* that such amount may be less than $5,000,000 if such amount represents all remaining availability under the limit set forth in the next sentence);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate principal amount of the Incremental Term Loans, together with the aggregate principal amount of Incremental Equivalent Debt, shall not exceed the sum of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the Free and Clear Incremental Amount, *plus* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;an amount equal to aggregate principal amount of all voluntary prepayments, redemptions and repurchases and other permanent reductions (but, with respect to the revolving facility under the TLA/Revolver Credit Agreement or other revolving loans, only to the extent such voluntary prepayment is accompanied by a permanent reduction of the commitments of such revolving facility) of the Term Loans and/or other Parity Lien Debt and all debt buy backs, yank-a-bank payments and similar transactions made in respect of any of the foregoing (with credit given to the principal amount of the debt purchased) at or prior to the date of any such incurrence (in each case, to the extent not funded with the proceeds of Long Term Debt and whether or not offered to all Lenders); *provided*, that the foregoing shall not apply in respect of any prepayments, redemptions or repurchases of, or other permanent reductions of, indebtedness incurred using the Incurrence-Based Incremental Amount (the "**Voluntary Prepayment Amount**"); plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;an additional amount such that, after giving effect to the incurrence of such amount, the use of proceeds thereof (including for purposes of this <u>clause (iii)</u>, the full amount of any Incremental Term Loans incurred at such time but without netting the cash proceeds of such Incremental Term Loans in the calculation of the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio or the Total Net Leverage Ratio) and any other *pro forma* adjustments (A) in the case of Incremental Term Loans secured by Parity Liens, the First Lien Net Leverage Ratio calculated on a *pro forma* basis for the most recently ended Test Period for which financial statements of the Borrower are internally available as of the date of incurrence of any such Incremental Term Loans does not exceed 4.50:1.00, (B) in the case of Incremental Term Loans secured by Junior Liens, the Secured Net Leverage Ratio calculated on a *pro forma* basis for the most recently ended Test Period for which financial statements of the Borrower are internally available as of the date of incurrence of any such Incremental Facility does not exceed 5.00:1.00 and (C) in the case of Incremental Term Loans incurred on an unsecured basis, the Total Net Leverage Ratio calculated on a *pro forma* basis for the most recently ended Test

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Period for which financial statements of the Borrower are internally available as of the date of incurrence of any such Incremental Term Loans does not exceed 5.25:1.00; *provided* that the amount of debt for purposes of calculating such First Lien Net Leverage Ratio, Secured Net Leverage Ratio or Total Net Leverage Ratio, as applicable, for this clause (iii), shall not include any principal amount or cash proceeds of Incremental Term Loans and Incremental Equivalent Debt which is being incurred simultaneously or substantially simultaneously by utilizing the Free and Clear Incremental Amount and/or the Voluntary Prepayment Amount (the "**Incurrence-Based Incremental Amount**", collectively, the amounts in <u>clauses (A)</u> through <u>(C)</u>, the "**Incremental Availability Amount**"). The Borrower may elect to incur any Incremental Term Loans or Incremental Equivalent Debt by utilizing the Incurrence-Based Incremental Amount, the Free and Clear Incremental Amount, the Voluntary Prepayment Amount or any combination thereof, and Borrower may at any time elect to reclassify any principal amount of any Incremental Facilities or Incremental Equivalent Debt incurred utilizing the Free and Clear Incremental Amount or the Voluntary Prepayment Amount as being incurred by utilizing the Incurrence-Based Incremental Amount, to the extent the Incurrence-Based Incremental Amount, as recalculated at such time, exceeds the aggregate principal amount outstanding of the Incremental Facilities and Incremental Equivalent Debt being reclassified, and such reclassification shall occur automatically on the last day of any fiscal quarter while any Incremental Facility or Incremental Equivalent Debt is outstanding to the extent that the Incurrence-Based Incremental Amount, as recalculated at such time, exceeds the aggregate principal amount outstanding of the Incremental Facilities and Incremental Equivalent Debt. For the avoidance of doubt, any incurrence of Incremental Equivalent Debt in reliance on the Incurrence-Based Incremental Amount shall be calculated as if references to the Incremental Facilities in this <u>clause (iii)</u> were references to such Incremental Equivalent Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the incurrence of any such Incremental Term Loans shall be in compliance with all obligations under Regulations T, U and X issued by the FRB; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;such other conditions as the Borrower and each Incremental Term Lender providing such Incremental Term Commitments shall agree; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;the proceeds with respect thereto may only be used in connection with Permitted Incremental Uses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Required Terms*. The terms, provisions and documentation of any Incremental Term Loans and Incremental Term Commitments of any Class shall be as agreed between the Borrower and the applicable Incremental Term Lenders providing such Incremental Term Commitments, except as otherwise set forth herein. In any event:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the Incremental Term Loans:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;shall be unsecured or shall rank *pari passu* with or junior in right of payment and of security to the Term Loans (and to the extent subordinated in right of payment or security, shall be subject to a Junior Lien Intercreditor Agreement or an alternate intercreditor and subordination arrangement reasonably satisfactory to the Administrative Agent),

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;shall not mature earlier than the Maturity Date of the Initial Term Loans; *provided* that the foregoing requirements of this <u>clause (B)</u> shall not apply to the Inside Maturity Basket,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;shall have a Weighted Average Life to Maturity not shorter than the remaining Weighted Average Life to Maturity of the Initial Term Loans (without giving effect to any prepayments of the Initial Term Loans prior to the time of incurrence of such Incremental Term Loans that would otherwise shorten the Weighted Average Life to Maturity of the Initial Term Loans); *provided* that the foregoing requirements of this <u>clause (C)</u> shall not apply (i) to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this <u>clause (C)</u> and such conversion or exchange is subject only to conditions customary for similar conversions or exchange or (ii) to the Inside Maturity Basket,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;shall have an Applicable Rate, and subject to <u>clauses (e)(i)(B)</u> and <u>(e)(i)(C)</u> above and <u>clause (e)(iii)</u> below, amortization determined by the Borrower and the applicable Incremental Term Lenders,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;may not be incurred (or guaranteed) by a non-Loan Party or secured by assets that do not constitute Collateral, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;any Incremental Term Loans may share on a pro rata or less than pro rata basis (but not greater than pro rata basis) in any mandatory repayments or prepayments of the Initial Term Loans (other than with respect to prepayments of such Incremental Term Loans at maturity, any greater than pro rata repayment of such Incremental Facility that constitutes an earlier maturing tranche of Term Loans or with the proceeds of a Permitted Refinancing in respect thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower shall have obtained a ratings reaffirmation of each of the then-prevailing public ratings of the Term Loans after giving effect to the Incremental Facility, in each case, with no negative outlook.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the amortization schedule applicable to any Incremental Term Loans and the All-In Yield applicable to the Incremental Term Loans of each Class shall be determined by the Borrower and the applicable Incremental Term Lenders and shall be set forth in each applicable Incremental Amendment; *provided*, *however*, that with respect to any Incremental Term Loans that are made prior to the date that is six (6) months after the Closing Date and are scheduled to mature prior to the date that is twelve (12) months after the Maturity Date of the Initial Term Loans (other than Incremental Term Loans that are unsecured or rank junior in right of payment and of security to the Initial Term Loans), if the All-In Yield applicable to such Incremental Term Loans shall be greater than the applicable All-In Yield payable pursuant to the terms of this Agreement as amended through the date of such calculation with respect to the Initial Term Loans by more than 50 basis points per annum (the amount of such excess of the All-In Yield applicable to such Incremental Term Loans over the sum of the All-In Yield applicable to the Initial Term Loans plus 50 basis points per annum, the "**Yield Differential**") then the interest rate (together with, as provided in the proviso below, the SOFR or Base Rate floor) with respect to the Initial Term Loans shall be increased by the applicable Yield Differential (this proviso, the "**MFN** 

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**Protection**"); *provided* that the foregoing requirements of this <u>clause (iii)</u> shall not apply to the Inside Maturity Basket.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise required or permitted in this <u>Section 2.12</u>, all other terms of any Incremental Term Commitments (excluding pricing, rate floors, discounts, fee and optional prepayment provisions), shall be as agreed between the Borrower and the applicable Incremental Term Lenders providing such Incremental Term Commitments; *provided*, *however*, that such terms shall not be materially less favorable (when taken as a whole) to the Borrower than the terms of the Initial Term Loans; *provided*, *further*, that the foregoing proviso shall not apply (x) to the extent that the covenants and terms apply solely to any period after the Latest Maturity Date that is in effect on the effective date of the Incremental Amendment (immediately prior to the establishment of such Incremental Term Commitments) or (y) to the extent such covenant or term is also made applicable to the Initial Term Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Incremental Amendment*. Commitments in respect of Incremental Term Loans shall become Commitments under this Agreement pursuant to an amendment (an "**Incremental Amendment**") to this Agreement and, as appropriate, the other Loan Documents, executed by the Borrower or such other Loan Party organized under the Laws of the United States, any state thereof, the District of Columbia or any territory thereof, that may be designated as a borrower in respect thereof (if any), each Incremental Term Lender providing such Commitments and the Administrative Agent. The Incremental Amendment may, without the consent of any other Loan Party, Agent or Lender, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this <u>Section 2.12</u>. No Lender shall be obligated to provide any Incremental Term Loans, unless it so agrees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;This <u>Section 2.12</u> shall supersede any provisions in <u>Section 2.11</u> or <u>10.01</u> to the contrary.

Section 2.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Refinancing Amendments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;On one or more occasions after the Closing Date, the Borrower may obtain, from any Lender or any other bank, financial institution or other institutional lender or investor that agrees to provide any portion of any Term Loans pursuant to a Refinancing Amendment in accordance with this <u>Section 2.13</u> (each, an "**Additional Refinancing Lender**") (*provided* that with respect to Refinancing Term Loans, any Affiliated Lender providing any Refinancing Term Loans shall be subject to the same restrictions set forth in <u>Section 10.07(k)</u> as they would otherwise be subject to with respect to any purchase by, or assignment to, such Affiliated Lender of Term Loans), Credit Agreement Refinancing Indebtedness in respect of all or any portion of any Class, as selected by the Borrower in its sole discretion, of Term Loans then outstanding under this Agreement, in the form of Refinancing Commitments pursuant to a Refinancing Amendment. Such Loans pursuant to a Refinancing Amendment shall be funded net of the OID Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The effectiveness of any Refinancing Amendment shall be subject to the satisfaction on the date thereof of each of the conditions set forth in <u>Section 2.12(d)(i)</u> and, to the extent reasonably requested by the Administrative Agent, receipt by the Administrative Agent of (i) customary legal opinions, board resolutions and officer's certificates consistent with those delivered on the Closing Date other than changes to such legal opinion resulting from a change in law, change in fact or change to counsel's form of opinion reasonably satisfactory to the Administrative Agent and (ii) reaffirmation agreements and/or such amendments to the Collateral Documents as may be reasonably requested by the

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Administrative Agent in order to ensure that such Credit Agreement Refinancing Indebtedness is provided with the benefit of the applicable Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each issuance of Credit Agreement Refinancing Indebtedness under <u>Section 2.13(a)</u> shall be in an aggregate principal amount that is (x) not less than $5,000,000 and (y) an integral multiple of $1,000,000 in excess thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each of the parties hereto hereby agrees that this Agreement and the other Loan Documents may be amended pursuant to a Refinancing Amendment, without the consent of any other Lenders, to the extent (but only to the extent) necessary to (i) reflect the existence and terms of the Credit Agreement Refinancing Indebtedness incurred pursuant thereto and (ii) make such other changes to this Agreement and the other Loan Documents consistent with the provisions and intent of the third paragraph of <u>Section 10.01</u> (without the consent of the Required Lenders called for therein) and (iii) effect such other amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this <u>Section 2.13</u>, and the Required Lenders hereby expressly authorize the Administrative Agent to enter into any such Refinancing Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;This <u>Section 2.13</u> shall supersede any provision in <u>Section 2.11</u> or <u>10.01</u> to the contrary.

Section 2.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Extension of Term Loans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Extension of Term Loans*. The Borrower may at any time and from time to time, in its sole discretion, request that all or a portion of the Term Loans of a given Class (or series or tranche thereof) (each, an "**Existing Term Loan Tranche**") be amended to extend the scheduled maturity date(s) with respect to all or a portion of any principal amount of such Term Loans (any such Term Loans which have been so amended, "**Extended Term Loans**") and to provide for other terms consistent with this <u>Section 2.14</u>. In order to establish any Extended Term Loans, the Borrower shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the Lenders under the applicable Existing Term Loan Tranche) (each, an "**Extension Request**") setting forth the proposed terms of the Extended Term Loans to be established, which shall (x) be identical as offered to each Lender under such Existing Term Loan Tranche (including as to the proposed interest rates and fees payable) and offered *pro rata* to each Lender under such Existing Term Loan Tranche and (y) be identical to the Term Loans under the Existing Term Loan Tranche from which such Extended Term Loans are to be amended, except that: (i) all or any of the scheduled amortization payments of principal of the Extended Term Loans may be delayed to later dates than the scheduled amortization payments of principal of the Term Loans of such Existing Term Loan Tranche, to the extent provided in the applicable Extension Amendment; (ii) the All-In Yield with respect to the Extended Term Loans (whether in the form of interest rate margin, upfront fees, OID or otherwise) may be different than the All-In Yield for the Term Loans of such Existing Term Loan Tranche, in each case, to the extent provided in the applicable Extension Amendment; (iii) the Extension Amendment may provide for other covenants and terms that apply solely to any period after the Latest Maturity Date that is in effect on the effective date of the Extension Amendment (immediately prior to the establishment of such Extended Term Loans) or which, at the Borrower's option, are made applicable to the Existing Term Loan Tranche from which such Extended Term Loans are to be amended; and (iv) Extended Term Loans may have call protection as may be agreed by the Borrower and the Lenders thereof; *provided* that no Extended Term Loans may be optionally prepaid prior to the date on which all Term Loans with an earlier final stated maturity (including Term Loans under the Existing Term Loan Tranche from which they were amended) are repaid in full, unless such optional prepayment is accompanied by at least a *pro rata* optional prepayment of

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such other Term Loans; *provided*, *however*, that (A) in no event shall the final maturity date of any Extended Term Loans of a given Extension Series at the time of establishment thereof be earlier than the then Latest Maturity Date of any then existing Term Loans hereunder, (B) the Weighted Average Life to Maturity of any Extended Term Loans of a given Extension Series at the time of establishment thereof shall be no shorter (other than by virtue of amortization or prepayment of such Indebtedness prior to the time of incurrence of such Extended Term Loans) than the remaining Weighted Average Life to Maturity of any Existing Term Loan Tranche, (C) any such Extended Term Loans (and the Liens securing the same) shall be permitted by the terms of the Intercreditor Agreements (to the extent any Intercreditor Agreement is then in effect), (D) all documentation in respect of such Extension Amendment shall be consistent with the foregoing and (E) any Extended Term Loans may participate on a *pro rata* basis or a less than *pro rata* basis (but not greater than *pro rata* basis) in any mandatory repayments or prepayments hereunder, in each case as specified in the respective Extension Request. Any Extended Term Loans amended pursuant to any Extension Request shall be designated a series (each, an "**Extension Series**") of Extended Term Loans for all purposes of this Agreement; *provided* that any Extended Term Loans amended from an Existing Term Loan Tranche may, to the extent provided in the applicable Extension Amendment, be designated as an increase in any previously established Extension Series with respect to such Existing Term Loan Tranche. Each Extension Series of Extended Term Loans incurred under this <u>Section 2.14</u> shall be in an aggregate principal amount that is not less than $10,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Extension Request*. The Borrower shall provide the applicable Extension Request at least three (3) Business Days prior to the date on which Lenders under the Existing Term Loan Tranche are requested to respond, and shall agree to such procedures, if any, as may be established by, or acceptable to, the Administrative Agent, in each case acting reasonably to accomplish the purposes of this <u>Section 2.14</u>. No Lender shall have any obligation to agree to have any of its Term Loans of any Existing Term Loan Tranche amended into Extended Term Loans pursuant to any Extension Request. Any Lender holding a Loan under an Existing Term Loan Tranche (each, an "**Extending Term Lender**") wishing to have all or a portion of its Term Loans under the Existing Term Loan Tranche subject to such Extension Request amended into Extended Term Loans shall notify the Administrative Agent (each, an "**Extension Election**") on or prior to the date specified in such Extension Request of the amount of its Term Loans under the Existing Term Loan Tranche which it has elected to request be amended into Extended Term Loans (subject to any minimum denomination requirements imposed by the Administrative Agent). In the event that the aggregate principal amount of Term Loans under the Existing Term Loan Tranche in respect of which applicable Lenders shall have accepted the relevant Extension Request exceeds the amount of Extended Term Loans requested to be extended pursuant to the Extension Request, Term Loans subject to Extension Elections shall be amended to Extended Term Loans on a *pro rata* basis (subject to rounding by the Administrative Agent, which shall be conclusive) based on the aggregate principal amount of Term Loans included in each such Extension Election.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Extension Amendment*. Extended Term Loans shall be established pursuant to an amendment (each, an "**Extension Amendment**") to this Agreement among the Borrower, the Administrative Agent and each Extending Term Lender providing an Extended Term Loan thereunder, which shall be consistent with the provisions set forth in <u>Section 2.14(a)</u> above, respectively (but which shall not require the consent of any other Lender). The effectiveness of any Extension Amendment shall be subject to the satisfaction on the date thereof of each of the conditions set forth in <u>Section 2.12(d)(i)</u> and, to the extent reasonably requested by the Administrative Agent, receipt by the Administrative Agent of (i) legal opinions, board resolutions and officer's certificates consistent with those delivered on the Closing Date other than changes to such legal opinion resulting from a change in law, change in fact or change to counsel's form of opinion reasonably satisfactory to the Administrative Agent and (ii) reaffirmation agreements and/or such amendments to the Collateral Documents as may be reasonably

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requested by the Administrative Agent in order to ensure that the Extended Term Loans are provided with the benefit of the applicable Loan Documents. The Borrower may, at its election, specify as a condition to consummating any Extension Amendment that a minimum amount (to be determined and specified in the relevant Extension Request in the Borrower's sole discretion and as may be waived by the Borrower) of Term Loans of any or all applicable Classes be tendered. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Extension Amendment. Each of the parties hereto hereby agrees that this Agreement and the other Loan Documents may be amended pursuant to an Extension Amendment, without the consent of any other Lenders, to the extent (but only to the extent) necessary to (i) reflect the existence and terms of the Extended Term Loans incurred pursuant thereto, (ii) modify the scheduled repayments set forth in <u>Section 2.05</u> with respect to any Existing Term Loan Tranche subject to an Extension Election to reflect a reduction in the principal amount of the Term Loans thereunder in an amount equal to the aggregate principal amount of the Extended Term Loans amended pursuant to the applicable Extension (with such amount to be applied ratably to reduce scheduled repayments of such Term Loans required pursuant to <u>Section 2.05</u>), (iii) modify the prepayments set forth in <u>Section 2.03</u> to reflect the existence of the Extended Term Loans and the application of prepayments with respect thereto, (iv) make such other changes to this Agreement and the other Loan Documents consistent with the provisions and intent of the second paragraph of <u>Section 10.01</u> (without the consent of the Required Lenders called for therein) and (v) effect such other amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this <u>Section 2.14</u>, and the Required Lenders hereby expressly authorize the Administrative Agent to enter into any such Extension Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;No conversion of Loans pursuant to any Extension in accordance with this <u>Section 2.14</u> shall constitute a voluntary or mandatory payment or prepayment for purposes under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;This <u>Section 2.14</u> shall supersede any provisions in <u>Section 2.11</u> or <u>10.01</u> to the contrary.

Section 2.15&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

Section 2.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Defaulting Lenders</u>.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*<u>Waivers and Amendments</u>*. Such Defaulting Lender's right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in <u>Section 10.01</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;*<u>Reallocation of Payments</u>*. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to <u>Article VIII</u> or otherwise), shall be applied at such time or times as may be determined by the Administrative Agent as follows: *first*, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; *second*, as the Borrower may request (so long as no Default or Event of Default has occurred and is continuing), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; *third*, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of

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such Defaulting Lender to fund Loans under this Agreement; *fourth*, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; *fifth*, so long as no Default or Event of Default has occurred and is continuing, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; and *sixth*, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; *provided* that if such payment is a payment of the principal amount of any Loans in respect of which such Defaulting Lender has not fully funded its appropriate share such payment shall be applied solely to pay the Loans of all Non-Defaulting Lenders on a *pro rata* basis prior to being applied to the payment of any Loans of such Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by such Defaulting Lender pursuant to this <u>Section 2.16(a)(ii)</u> shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Defaulting Lender Cure*. If the Borrower and the Administrative Agent agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, such Lender will cease to be a Defaulting Lender; *provided* that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting Lender; and *provided*, *further*, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from such Lender's having been a Defaulting Lender.

Section 2.17&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

Section 2.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Permitted Debt Exchanges</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained in this Agreement, pursuant to one or more offers (each, a "**Permitted Debt Exchange Offer**") made from time to time by the Borrower, the Borrower may from time to time following the Closing Date consummate one or more exchanges of Term Loans for Credit Agreement Refinancing Indebtedness in the form of notes (such notes, "**Permitted Debt Exchange Notes,**" and each such exchange a "**Permitted Debt Exchange**"), so long as the following conditions are satisfied: (i) no Event of Default shall have occurred and be continuing at the time the final offering document in respect of a Permitted Debt Exchange Offer is delivered to the relevant Lenders, (ii) the aggregate principal amount (calculated on the face amount thereof) of Term Loans exchanged shall equal no more than the aggregate principal amount (calculated on the face amount thereof) of Permitted Debt Exchange Notes issued in exchange for such Term Loans; *provided* that the aggregate principal amount of the Permitted Debt Exchange Notes may include accrued interest and premium (if any) under the Term Loans exchanged and underwriting discounts, fees, commissions and expenses in connection with the issuance of such Permitted Debt Exchange Notes, (iii) the aggregate principal amount (calculated on the face amount thereof) of all Term Loans exchanged under each applicable Class by the Borrower pursuant to any Permitted Debt Exchange shall automatically be cancelled and retired by the Borrower on the date of the settlement thereof (and, if requested by the Administrative Agent, any applicable exchanging Lender shall execute and deliver to the Administrative Agent an Assignment and Assumption, or such other form as may be reasonably requested by the Administrative Agent, in respect thereof pursuant to which the respective Lender assigns its interest in the

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Term Loans being exchanged pursuant to the Permitted Debt Exchange to the Borrower for immediate cancellation), (iv) if the aggregate principal amount of all Term Loans of a given Class (calculated on the face amount thereof) tendered by Lenders in respect of the relevant Permitted Debt Exchange Offer (with no Lender being permitted to tender a principal amount of Term Loans which exceeds the principal amount thereof of the applicable Class actually held by it) shall exceed the maximum aggregate principal amount of Term Loans of such Class offered to be exchanged by the Borrower pursuant to such Permitted Debt Exchange Offer, then the Borrower shall exchange Term Loans subject to such Permitted Debt Exchange Offer tendered by such Lenders ratably up to such maximum amount based on the respective principal amounts so tendered, (v) all documentation in respect of such Permitted Debt Exchange shall be consistent with the foregoing, and all written communications generally directed to the Lenders in connection therewith shall be in form and substance consistent with the foregoing and made in consultation with the Borrower and the Auction Agent, and (vi) any applicable Minimum Tender Condition shall be satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;With respect to all Permitted Debt Exchanges effected by the Borrower pursuant to this <u>Section 2.18(b)</u>, (i) such Permitted Debt Exchanges (and the cancellation of the exchanged Term Loans in connection therewith) shall not constitute voluntary or mandatory payments or prepayments for purposes of <u>Section 2.03(a)</u> or <u>2.03(b)</u>, and (ii) such Permitted Debt Exchange Offer shall be made for not less than $5,000,000 in aggregate principal amount of Term Loans; *provided* that subject to the foregoing <u>clause (ii)</u>, the Borrower may at its election specify as a condition (a "**Minimum Tender Condition**") to consummating any such Permitted Debt Exchange that a minimum amount (to be determined and specified in the relevant Permitted Debt Exchange Offer in the Borrower's discretion) of Term Loans of any or all applicable Classes be tendered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In connection with each Permitted Debt Exchange, the Borrower and the Auction Agent shall mutually agree to such procedures as may be necessary or advisable to accomplish the purposes of this <u>Section 2.18</u> and without conflict with <u>Section 2.18(d)</u>; *provided* that the terms of any Permitted Debt Exchange Offer shall provide that the date by which the relevant Lenders are required to indicate their election to participate in such Permitted Debt Exchange shall be not less than a reasonable period (in the discretion of the Borrower and the Auction Agent) of time following the date on which the Permitted Debt Exchange Offer is made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall be responsible for compliance with, and hereby agrees to comply with, all applicable securities and other laws in connection with each Permitted Debt Exchange, it being understood and agreed that (x) none of the Auction Agent, the Administrative Agent nor any Lender assumes any responsibility in connection with the Borrower's compliance with such laws in connection with any Permitted Debt Exchange and (y) each Lender shall be solely responsible for its compliance with any applicable "insider trading" laws and regulations to which such Lender may be subject under the Securities Exchange Act of 1934, as amended.

**ARTICLE III <br>TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY**

Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any and all payments made by or on account of the Borrower or any other Loan Party under any Loan Document shall be made free and clear of and without deduction or withholding for any and all present or future taxes, duties, deductions, levies, imposts, fees, assessments or withholdings (including backup withholding) or similar charges imposed by any Governmental Authority including any

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interest, penalties and additions to tax thereto (collectively "**Taxes**"), except as required by applicable Law. If the applicable Withholding Agent shall be required by any applicable Law (as determined in the good faith discretion of the applicable Withholding Agent) to deduct or withhold any Taxes from or in respect of any sum payable under any Loan Document to any Agent or any Lender then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable Law and, to the extent the Tax in question is an Indemnified Tax or an Other Tax , the sum payable by the Borrower or any Loan Party shall be increased as necessary so that after making all required deductions or withholdings (including any deductions or withholding of an Indemnified Tax or Other Tax applicable to additional sums payable under this <u>Section 3.01</u>), each of such Agent and such Lender receives an amount equal to the sum it would have received had no such deductions or withholding been made. Within thirty (30) days after the date of such payment (or, if receipts or evidence are not available within thirty (30) days, as soon as practicable thereafter), the Borrower or any Loan Party shall furnish to the Administrative Agent the original or a copy of a receipt issued by such Governmental Authority evidencing payment thereof or other evidence reasonably acceptable to the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower agrees to timely pay to the relevant Governmental Authority in accordance with applicable Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower and the other Loan Parties agree to jointly and severally indemnify each Agent and each Lender, within 10 days after demand therefor, for (i) the full amount of any Indemnified Taxes and, without duplication, Other Taxes payable or paid by such Agent or such Lender, or required to be withheld or deducted from a payment to such Agent or such Lender (including Indemnified Taxes and Other Taxes imposed on or attributable to amounts payable under this <u>Section 3.01</u>) and (ii) any reasonable expenses arising therefrom or with respect thereto, in each case whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided, Borrower and the other Loan Parties shall not be liable to the extent such amounts are payable due to the fraud, gross negligence, bad faith, or willful misconduct of any Agent or Lender. A certificate as to the amount of such payment or liability prepared in good faith by such Agent or Lender (or by an Agent on behalf of such Lender) shall be conclusive absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender shall, at such times as are reasonably requested by the Borrower or the Administrative Agent, provide the Borrower and the Administrative Agent with any documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent certifying as to any entitlement of such Lender to an exemption from, or reduction in, withholding Tax with respect to any payments to be made to such Lender under the Loan Documents. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding any other provision of this <u>clause (d)</u>, a Lender shall not be required to deliver any form pursuant to this clause (d) that such Lender is not legally eligible to deliver or any form pursuant to this <u>clause (d)</u> (other than any such documentation set forth in any of <u>Section 3.01(d)(i)</u>, <u>Section 3.01(d)(ii)</u> (other than <u>Section 3.01(d)(ii)(E)</u>) and <u>Section 3.01(d)(iii)</u> below) that may subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. Without limiting the foregoing:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or before the date on which it becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent) two properly completed and duly signed copies of Internal Revenue Service Form W-9 (or any successor form) certifying that such Lender is exempt from U.S. federal backup withholding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender that is not a U.S. Person shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent on or before the date on which it becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent) whichever of the following is applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;two copies of properly completed and duly signed Internal Revenue Service Form W-8BEN or Form W-8BEN-E (or any successor forms), claiming eligibility for the benefits of an income tax treaty to which the United States is a party,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;two copies of properly completed and duly signed Internal Revenue Service Form W-8ECI (or any successor forms),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (a) a United States Tax Compliance Certificate and (b) two copies of properly completed and duly signed Internal Revenue Service Form W-8BEN or Form W-8BEN-E (or any successor forms),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;to the extent a Lender is not the beneficial owner (for example, where the Lender is a partnership), two copies of properly completed and duly signed Internal Revenue Service Form W-8IMY (or any successor forms) of the Lender, accompanied by a copy of properly completed and duly signed Internal Revenue Service Form W-8ECI, W-8BEN, W-8BEN-E, W-8IMY, W-9, a United States Tax Compliance Certificate and/or any other required information from each beneficial owner, as applicable (*provided* that, if the Lender is a partnership, and one or more direct or indirect beneficial partners of such Lender are claiming the portfolio interest exemption, the United States Tax Compliance Certificate may be provided by such Lender on behalf of each such partner), or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;two copies of any other properly completed and duly signed form prescribed by applicable U.S. federal income tax laws (including the Treasury Regulations) as a basis for claiming a complete exemption from, or a reduction in, U.S. federal withholding Tax on any payments to such Lender under the Loan Documents, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;If a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent, at the time or times prescribed by applicable Law and at such time or times reasonably requested by the Borrower and the Administrative Agent, such documentation prescribed by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code)

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and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA, to determine whether such Lender has or has not complied with such Lender's obligations under FATCA and, as necessary, to determine the amount to deduct and withhold from such payment. Solely for purposes of this <u>Section 3.01(d)(iii)</u>, "FATCA" shall include any amendments made to FATCA after the Closing Date.

Each such Lender shall, whenever a lapse in time or change in circumstances renders any such documentation described in this <u>Section 3.01(d)</u> obsolete or inaccurate in any material respect, deliver promptly to the Borrower and the Administrative Agent updated or other appropriate documentation (including any new documentation reasonably requested by the Borrower or the Administrative Agent) or promptly notify the Borrower and the Administrative Agent in writing of its inability to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;If the Administrative Agent (including any successor agent and any sub-agent thereof, if applicable) is not a U.S. Person, the Administrative Agent (and any successor agent or sub-agent thereof, if applicable) shall deliver to the Borrower on or before the date on which it becomes the Administrative Agent (or sub-agent) under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower) (i) a copy of an accurate and complete signed Internal Revenue Service Form W-8ECI with respect to any amounts payable to the Administrative Agent (or sub-agent) for its own account and (ii) a copy of an accurate and complete signed Internal Revenue Service Form W-8IMY with respect to any amounts payable to the Administrative Agent (or sub-agent) for the account of others, certifying that it is a "U.S. branch," and that it is using such form as evidence of its agreement with the Borrower to be treated as a U.S. Person with respect to such payments (and the Borrower and the Administrative Agent (and any sub-agent) agree to so treat the Administrative Agent (and any sub-agent thereof, if applicable) as a U.S. Person with respect to such payments as contemplated by, and in accordance with, Sections 1.1441-1(b)(2)(iv) of the Treasury Regulations). If the Administrative Agent (and any sub-agent thereof, if applicable) is a U.S. Person, it shall deliver to the Borrower on or before the date on which it becomes the Administrative Agent (or sub-agent) under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower) a copy of an accurate and complete Internal Revenue Service Form W-9 setting forth an exemption from backup withholding. The Administrative Agent shall, whenever a lapse in time or change in circumstances renders any such documentation described in this <u>Section 3.01(f)</u> obsolete or inaccurate in any material respect, deliver promptly to the Borrower updated or other appropriate documentation (including any new documentation reasonably requested by the Borrower) or promptly notify the Borrower in writing of its inability to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender or Agent determines, in its sole discretion exercised in good faith, that it has received a refund in respect of any Indemnified Taxes or Other Taxes as to which indemnification or additional amounts have been paid to it by the Borrower or any other Loan Party pursuant to this <u>Section 3.01</u>, it shall remit such refund to the Borrower or such other Loan Party (but only to the extent of indemnification or additional amounts paid by the Borrower or such other Loan Party under this <u>Section 3.01</u> with respect to Indemnified Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses (including any Taxes) of the Lender or Agent, as the case may be, and without interest (other than any interest paid by the relevant taxing authority with respect to such refund, net of any Taxes payable by any Agent or Lender on such interest); *provided* that the Borrower or such other Loan Party, upon the request of the Lender or Agent, as the case may be, agrees promptly to return such refund (*plus* any penalties, interest or other charges imposed by the relevant taxing authority) to such party in the event such party is required to repay such refund to the relevant taxing authority. Notwithstanding anything to

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the contrary in this <u>paragraph (g)</u>, in no event will a Lender or Agent be required to pay any amount to the Borrower or any other Loan Party pursuant to this <u>paragraph (g)</u> to the extent the payment of which would place such Lender or Agent in a less favorable net after-Tax position than such Lender or Agent would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This section shall not be construed to require any Lender or Agent to make available its Tax returns (or any other information relating to Taxes that it deems confidential) to the Borrower or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;For the avoidance of doubt, the term "Law" for purposes of this <u>Section 3.01</u> includes FATCA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Each party's obligations under this <u>Section 3.01</u> shall survive the resignation or replacement of the Administrative Agent and the Collateral Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.

Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Illegality</u>. If any Lender reasonably determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Term SOFR Loans, or to determine or charge interest rates based upon the SOFR, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (a) any obligation of such Lender to make or continue Term SOFR Loans or to convert Base Rate Loans to Term SOFR Loans shall be suspended and (b) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the Term SOFR component of Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, to be determined by the Administrative Agent without reference to the Term SOFR component of Base Rate, in each case, until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist (it being understood that such Lender agrees to so advise the Administrative Agent once the relevant circumstances giving rise to such determination no longer exists). Upon receipt of such notice, (i) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all applicable Term SOFR Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Term SOFR component of Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Term SOFR Loans to such day, or promptly, if such Lender may not lawfully continue to maintain such Term SOFR Loans and (ii) if such notice asserts the illegality of such Lender determining or charging interest rates based upon Term SOFR, the Administrative Agent shall during the period of such suspension compute Base Rate applicable to such Lender without reference to the Term SOFR component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon Term SOFR (it being understood that such Lender agrees to so advise the Administrative Agent once such illegality no longer exists). Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted and all amounts due, if any, in connection with such prepayment or conversion under <u>Section 3.05</u>. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such Lender.

Section 3.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Replacement Setting</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Replacement</u>. Notwithstanding anything to the contrary herein or in any other Loan Document, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with <u>clause (a)</u> of the definition of "Benchmark Replacement" for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with <u>clause (b)</u> of the definition of "Benchmark Replacement" for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders. If the Benchmark Replacement is Daily Simple SOFR, all interest payments will be payable on a quarterly basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;No Hedging Agreement shall be deemed to be a "Loan Document" for purposes of this <u>Section 3.03</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Replacement Conforming Changes</u>. In connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes (in consultation with the Borrower) from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices; Standards for Decisions and Determinations</u>. The Administrative Agent will promptly notify the Borrower and the Lenders of (i) the implementation of any Benchmark Replacement and (ii) the effectiveness of any Benchmark Replacement Conforming Changes in connection with the use, administration, adoption or implementation of a Benchmark Replacement. The Administrative Agent will promptly notify the Borrower of the removal or reinstatement of any tenor of a Benchmark pursuant to <u>Section 3.03(d)</u>. Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this <u>Section 3.03</u>, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this <u>Section 3.03</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Unavailability of Tenor of Benchmark</u>. Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Reference Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other

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information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the administrator of such Benchmark or the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is not or will not be representative, then the Administrative Agent may modify the definition of "Interest Period" (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable, non-representative, non-compliant or non-aligned tenor and (ii) if a tenor that was removed pursuant to <u>clause (i)</u> above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is not or will not be representative (including a Benchmark Replacement), then the Administrative Agent may modify the definition of "Interest Period" (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Benchmark Unavailability Period</u>. Upon the Borrower's receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a Term SOFR Loan of, conversion to or continuation of a Term SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of Base Rate.

Section 3.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Increased Cost and Reduced Return; Capital Adequacy; Reserves on Term SOFR Loans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender reasonably determines that as a result of the introduction of or any change in or in the interpretation of any Law, in each case after the Closing Date, or such Lender's compliance therewith, there shall be any increase in the cost to such Lender of agreeing to make or making, funding or maintaining any Term SOFR Loans or a reduction in the amount received or receivable by such Lender in connection with any of the foregoing (excluding for purposes of this <u>Section 3.04(a)</u> any such increased costs or reduction in amount resulting from (i) Indemnified Taxes, (ii) Excluded Taxes or Other Taxes or (iii) reserve requirements contemplated by <u>Section 3.04(c)</u>) and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining the Term SOFR Loan (or of making or maintaining its obligations to make any Loan), or to reduce the amount of any sum received or receivable by such Lender, then from time to time within fifteen (15) days after demand by such Lender setting forth in reasonable detail such increased costs (with a copy of such demand to the Administrative Agent given in accordance with <u>Section 3.06</u>), the Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such increased cost or reduction. Notwithstanding anything herein to the contrary, for all purposes under this Agreement, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a change in law, regardless of the date enacted, adopted or issued; *provided*, that to the extent any increased costs or reductions are incurred by any Lender as a result of any requests, rules, guidelines or directives promulgated under the Dodd-Frank Wall Street Reform and Consumer Protection Act or pursuant to Basel III after the Closing Date, then such Lender shall be compensated pursuant to this <u>Section 3.04</u> only if such Lender imposes such charges under other syndicated credit facilities involving similarly situated borrowers that such Lender is a lender under.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender reasonably determines that the introduction of any Law regarding capital adequacy or any change therein or in the interpretation thereof, in each case after the Closing Date, or compliance by such Lender (or its Lending Office) therewith, has the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such Lender as a consequence of such Lender's obligations hereunder (taking into consideration its policies with respect to capital adequacy and such Lender's desired return on capital), then from time to time upon demand of such Lender setting forth in reasonable detail the charge and the calculation of such reduced rate of return (with a copy of such demand to the Administrative Agent given in accordance with <u>Section 3.06</u>), the Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such reduction within fifteen (15) days after receipt of such demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall pay to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including SOFR funds or deposits, additional interest on the unpaid principal amount of each applicable Term SOFR Loan of the Borrower equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive in the absence of manifest error), and (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of any Term SOFR Loans of the Borrower, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error) which in each case shall be due and payable on each date on which interest is payable on such Loan, *provided* the Borrower shall have received at least fifteen (15) days' prior notice (with a copy to the Administrative Agent) of such additional interest or cost from such Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest or cost shall be due and payable fifteen (15) days from receipt of such notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Failure or delay on the part of any Lender to demand compensation pursuant to this <u>Section 3.04</u> shall not constitute a waiver of such Lender's right to demand such compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender requests compensation under this <u>Section 3.04</u>, then such Lender will, if requested by the Borrower, use commercially reasonable efforts to designate another Lending Office for any Loan affected by such event; *provided* that such efforts are made on terms that, in the reasonable judgment of such Lender, cause such Lender and its Lending Office(s) to suffer no material economic, legal or regulatory disadvantage, and *provided further* that nothing in this <u>Section 3.04(e)</u> shall affect or postpone any of the Obligations of the Borrower or the rights of such Lender pursuant to <u>Section 3.04(a)</u>, <u>(b)</u>, <u>(c)</u> or <u>(d)</u>.

Section 3.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Funding Losses</u>. Upon written demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense actually incurred by it as a result of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any continuation, conversion, payment or prepayment of any Term SOFR Loan of the Borrower on a day other than the last day of the Interest Period for such Loan; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Term SOFR Loan of the Borrower on the date or in the amount notified by the Borrower; including any loss or expense (excluding loss of anticipated profits)

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arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained.

For purposes of calculating amounts payable by the Borrower to the Lenders under this <u>Section 3.05</u>, each Lender shall be deemed to have funded each Term SOFR Loan made by it Term SOFR for such Loan by a matching deposit or other borrowing in the secured overnight market for a comparable amount and for a comparable period, whether or not such Term SOFR Loan was in fact so funded.

Section 3.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Matters Applicable to All Requests for Compensation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any Agent or any Lender claiming compensation under this <u>Article III</u> shall deliver a certificate to the Borrower setting forth the additional amount or amounts to be paid to it hereunder which shall be conclusive in the absence of manifest error. In determining such amount, such Agent or such Lender may use any reasonable averaging and attribution methods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;With respect to any Lender's claim for compensation under <u>Section 3.04</u>, the Borrower shall not be required to compensate such Lender for any amount incurred more than one hundred eighty (180) days prior to the date that such Lender notifies the Borrower of the event that gives rise to such claim; *provided* that, if the circumstance giving rise to such claim is retroactive, then such one hundred eighty (180)-day period referred to above shall be extended to include the period of retroactive effect thereof. If any Lender requests compensation by the Borrower under <u>Section 3.04</u>, the Borrower may, by notice to such Lender (with a copy to the Administrative Agent), suspend the obligation of such Lender to make or continue from one Interest Period to another applicable Term SOFR Loan, or, if applicable, to convert Base Rate Loans into Term SOFR Loans, until the event or condition giving rise to such request ceases to be in effect (in which case the provisions of <u>Section 3.06(c)</u> shall be applicable); *provided* that such suspension shall not affect the right of such Lender to receive the compensation so requested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If the obligation of any Lender to make or continue any Term SOFR Loan, or to convert Base Rate Loans into Term SOFR Loans shall be suspended pursuant to <u>Section 3.06(b)</u> hereof, such Lender's applicable Term SOFR Loans shall be automatically converted into Base Rate Loans (or, if such conversion is not possible, repaid) on the last day(s) of the then current Interest Period(s) for such Term SOFR Loans (or, in the case of an immediate conversion required by <u>Section 3.02</u>, on such earlier date as required by Law) and, unless and until such Lender gives notice as provided below that the circumstances specified in <u>Section 3.02</u> hereof that gave rise to such conversion no longer exist:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to the extent that such Lender's Term SOFR Loans have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's applicable Term SOFR Loans shall be applied instead to its Base Rate Loans; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;all Loans that would otherwise be made or continued from one Interest Period to another by such Lender as Term SOFR Loans shall be made or continued instead as Base Rate Loans (if possible), and all Base Rate Loans of such Lender that would otherwise be converted into Term SOFR Loans shall remain as Base Rate Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;If any Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in <u>Section 3.02</u> hereof that gave rise to the conversion of any of such Lender's Term SOFR Loans pursuant to this <u>Section 3.06</u> no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Term SOFR Loans made by other Lenders under the applicable Facility are outstanding, if applicable, such Lender's Base Rate Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such

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outstanding Term SOFR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding Term SOFR Loans under such Facility and by such Lender are held pro rata (as to principal amounts, interest rate basis, and Interest Periods) in accordance with their respective Commitments for the applicable Facility.

Section 3.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Replacement of Lenders under Certain Circumstances</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If at any time (i) the Borrower becomes obligated to pay additional amounts or indemnity payments described in <u>Section 3.01</u> or <u>3.04</u> as a result of any condition described in such Sections or any Lender ceases to make any Term SOFR Loans as a result of any condition described in <u>Section 3.02</u> or <u>Section 3.04</u>, (ii) any Lender becomes a Defaulting Lender or (iii) any Lender becomes a Non-Consenting Lender, then the Borrower may so long as no Event of Default has occurred and is continuing, at its sole cost and expense, on five (5) Business Days' prior written notice (or such shorter time as the Administrative Agent may agree) to the Administrative Agent and such Lender, (x) replace such Lender by causing such Lender to (and such Lender shall be obligated to) assign pursuant to <u>Section 10.07(b)</u> (with the assignment fee to be paid by the Borrower in such instance) all of its rights and obligations under this Agreement (in respect of any applicable Facility only in the case of <u>clause (i)</u> or, with respect to a Class vote, <u>clause (iii)</u>) to one or more Eligible Assignees; *provided* that neither the Administrative Agent nor any Lender shall have any obligation to the Borrower to find a replacement Lender or other such Person; and *provided further* that (A) in the case of any such assignment resulting from a claim for compensation under <u>Section 3.04</u> or payments required to be made pursuant to <u>Section 3.01</u>, such assignment will result in a reduction in such compensation or payments, (B) in the case of any such assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable Eligible Assignees shall have agreed to, and shall be sufficient (together with all other consenting Lenders) to cause the adoption of, the applicable departure, waiver or amendment of the Loan Documents and (C) in the case of any such assignment resulting from payments required to be made pursuant to <u>Section 3.01</u>, such Lender has declined or is unable to designate a different Lending Office in accordance <u>Section 3.01(e)</u>; or (y) terminate the Commitment of such Lender (in respect of any applicable Facility only in the case of <u>clause (i)</u> or <u>clause (iii)</u>), as the case may be, and repay all Obligations of the Borrower owing to such Lender relating to the Loans and participations held by such Lender as of such termination date; *provided* that in the case of any such termination of a Non-Consenting Lender such termination shall be sufficient (together with all other consenting Lenders) to cause the adoption of the applicable departure, waiver or amendment of the Loan Documents and such termination shall be in respect of any applicable Facility only in the case of <u>clause (i)</u> or, with respect to a Class vote, <u>clause (iii)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender being replaced pursuant to <u>Section 3.07(a)(iii)(x)</u> above shall (i) execute and deliver an Assignment and Assumption with respect to such Lender's applicable Commitment and outstanding Loans, and (ii) deliver any Notes evidencing such Loans to the Borrower or Administrative Agent. Pursuant to such Assignment and Assumption, (A) the assignee Lender shall acquire all or a portion, as the case may be, of the assigning Lender's Commitment and outstanding Loans, (B) all obligations of the Borrower owing to the assigning Lender relating to the Loans, Commitments and participations so assigned shall be paid in full by the assignee Lender to such assigning Lender concurrently with such Assignment and Assumption and (C) upon such payment and, if so requested by the assignee Lender, delivery to the assignee Lender of the appropriate Note or Notes executed by the Borrower, the assignee Lender shall become a Lender hereunder and the assigning Lender shall cease to constitute a Lender hereunder with respect to such assigned Loans, Commitments and participations, except with respect to indemnification provisions under this Agreement, which shall survive as to such assigning Lender. In connection with any such replacement, if any such Non-Consenting Lender or Defaulting Lender does not execute and deliver to the Administrative Agent a duly executed Assignment

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and Assumption reflecting such replacement within five (5) Business Days of the date on which the assignee Lender executes and delivers such Assignment and Assumption to such Non-Consenting Lender or Defaulting Lender, then such Non-Consenting Lender or Defaulting Lender shall be deemed to have executed and delivered such Assignment and Assumption without any action on the part of the Non-Consenting Lender or Defaulting Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In the event that (i) the Borrower or the Administrative Agent has requested that the Lenders consent to a departure or waiver of any provisions of the Loan Documents or agree to any amendment thereto, (ii) the consent, waiver or amendment in question requires the agreement of each Lender, each affected Lender or each affected Lender of a certain Class in accordance with the terms of <u>Section 10.01</u> or all the Lenders with respect to a certain Class of the Loans and (iii) the Required Lenders (or, in the case of a consent, waiver or amendment involving all affected Lenders of a certain Facility, the Required Class Lenders as applicable) have agreed to such consent, waiver or amendment, then any Lender who does not agree to such consent, waiver or amendment shall be deemed a "**Non-Consenting Lender**".

Section 3.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. Each of the obligations of the parties hereto under this <u>Article III</u> shall survive termination of the Aggregate Commitments and repayment of all other Obligations hereunder.

**ARTICLE IV <br>CONDITIONS PRECEDENT TO BORROWINGS**

Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions to Initial Borrowing</u>. The obligation of each Lender to fund the initial Borrowing hereunder on the Closing Date is subject to satisfaction of the following conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent's receipt of the following, each of which shall be originals or ".pdf" copies or other electronic copies (followed promptly by originals if requested by the Administrative Agent) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party each in form and substance reasonably satisfactory to the Administrative Agent and its legal counsel:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;a Committed Loan Notice in accordance with the requirements hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;executed counterparts of this Agreement and the First Lien Intercreditor Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;each Collateral Document set forth on <u>Schedule 1.01B</u> as required to be executed on the Closing Date as indicated on such schedule, duly executed by each Loan Party thereto, together with, in each case, solely to the extent required by the Collateral and Guarantee Requirement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;certificates, if any, representing the equity interests in the Borrower and owned by the Borrower accompanied by undated stock or membership interest powers executed in blank and instruments evidencing the Pledged Debt indorsed in blank (or confirmation in lieu thereof reasonably satisfactory to the Administrative Agent or its counsel that such certificates, powers and instruments have been sent for overnight delivery to the Collateral Agent or its counsel);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;copies of proper financing statements, filed or duly prepared for filing under the Uniform Commercial Code in all United States jurisdictions that the Administrative Agent may deem reasonably necessary in order to perfect and protect the

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Liens created under (1) the Security and Depositary Agreement on assets of the Borrower, covering the Collateral described in the Security and Depositary Agreement and (2) the Pledge Agreement on assets of the Parent, covering the Collateral described in the Pledge Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;evidence that all other actions, recordings and filings required by the Collateral Documents as of the Closing Date that the Administrative Agent may deem reasonably necessary to satisfy the Collateral and Guarantee Requirement shall have been taken, completed or otherwise provided for in a manner reasonably satisfactory to the Administrative Agent (it being understood that the Borrower hereby provides authorization to the Administrative Agent to take such actions or make such recordings and filings that can be taken or made by the Administrative Agent or the Collateral Agent and to the extent agreed to be taken or made by the Administrative Agent or Collateral Agent, such actions, recordings and filings shall be reasonably satisfactory to the Administrative Agent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;copies of a recent Lien, judgment and litigation search in each jurisdiction reasonably requested by the Administrative Agent with respect to the Loan Parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;a certificate signed by a Responsible Officer, dated as of the Closing Date, certifying that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;attached to such certificate is a true and complete copy of one or more certificates of the Secretary of State of the jurisdiction of formation of each Loan Party dated reasonably near the Closing Date certifying (I) as to a true and correct copy of the certificate of formation of such Loan Party and each amendment thereto on file in such Secretary of State's office (or its jurisdictional equivalent, as applicable) and (II) that (1) such amendments are the only amendments to such Loan Party's constitutional documents on file in such Secretary of State's office (or its jurisdictional equivalent, as applicable) and (2) such Loan Party is duly formed and in good standing or presently subsisting under the laws of the applicable jurisdiction of formation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;attached to such certificate is a true and complete copy of the limited liability company agreement, operating agreement, bylaws or comparable governing documents of each Loan Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;attached to such certificate is a true and complete copy of the valid resolutions relating to the authorization, execution and delivery of each Loan Document to which such Loan Party is a party; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;attached to such certificate is a true and complete copy of the incumbency and signatures of the Persons authorized to execute and deliver on its behalf the Loan Documents to which it is or is to be a party and any other documents in connection with the transactions contemplated hereby and thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;an opinion from Latham & Watkins LLP, New York counsel to the Loan Parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;a solvency certificate, substantially in the form of <u>Exhibit C-2</u> hereto, from the chief financial officer, chief accounting officer, manager or other officer with equivalent duties of the Borrower (after giving effect to the Transactions);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;a certificate, dated the Closing Date and signed by a Responsible Officer of the Borrower, confirming satisfaction of the conditions set forth in <u>Section 4.01(c)</u>, <u>(d)</u>, <u>(g)</u>, <u>(m)</u>, <u>(n)</u>, <u>(o)</u> and <u>(p)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;All reasonable and documented out-of-pocket expenses pursuant to the Fee Letters due to the Administrative Agent, the Collateral Agent, the Lead Arrangers and their respective Affiliates required to be paid on the Closing Date and (in the case of expenses) invoiced at least three (3) Business Days before the Closing Date (except as otherwise reasonably agreed by the Borrower) shall have been paid from the proceeds of the initial funding under the Facilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The representations and warranties of each Loan Party set forth in <u>Article V</u> and in each other Loan Document shall be true and correct in all material respects (except that any representation and warranty that is qualified as to "materiality" or "Material Adverse Effect" shall be true and correct in all respects as so qualified) on and as of the Closing Date, except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall be true and correct in all material respects (except that any representation and warranty that is qualified as to "materiality" or "Material Adverse Effect" are true and correct in all respects as so qualified) as of such earlier date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;No Default or Event of Default shall exist and be continuing or would immediately result from the initial Borrowing hereunder or from the application of the proceeds therefrom.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent shall have received copies of (i) a consolidated pro forma balance sheet of the Borrower, dated June 30, 2025 and (ii) (x) the unaudited consolidated balance sheet of the Borrower as of June 30, 2025, (y) the unaudited consolidated statement of operations of the Borrower for the quarter ended on June 30, 2025 and the portion of the fiscal year through the end of such quarter, and (z) the unaudited consolidated statement of cash flows of the Borrower for the portion of the fiscal year through the end of such quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender shall have received at least three (3) Business Days prior to the Closing Date all documentation and other information about the Loan Parties required under applicable Anti-Money Laundering Laws, including, without limitation, applicable "know your customer" rules and the USA PATRIOT Act, that has been reasonably requested by such Lender in writing at least ten (10) Business Days prior to the Closing Date. At least three (3) Business Days prior to the Closing Date, if the Borrower qualifies as a "legal entity customer" under the Beneficial Ownership Regulation, then the Borrower shall have delivered to the Administrative Agent a Beneficial Ownership Certification in relation to the Borrower on the form promulgated by the Loan Syndications and Trading Association.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Since December 31, 2024, there shall not have been or occurred any event, change, fact, development, circumstance, condition or occurrence that has had or would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>Consultant Reports</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Report of the Independent Engineer*. The Administrative Agent shall have received a technical due diligence report of the Independent Engineer, which shall state that (or a letter from the Independent Engineer shall have been delivered stating that) each Lender shall be entitled to rely on such report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;*Report of the Insurance Consultant.* The Administrative Agent shall have received a report of the Insurance Consultant, which shall state that (or a letter from the Insurance

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Consultant shall have been delivered stating that) each Lender shall be entitled to rely on such report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;*Report of the Market Consultant*. The Administrative Agent shall have received a report of the Market Consultant, and a letter from the Market Consultant shall have been delivered stating that each Lender shall be entitled to rely on such report to the extent they countersign such letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;*Report of the Commercial Consultant*. The Administrative Agent shall have received a report of the Commercial Consultant, which shall state that (or a letter from the Commercial Consultant shall have been delivered stating that) each Lender shall be entitled to rely on such report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall have obtained the applicable Insurance Policies that are required to be in effect as of the Closing Date pursuant to <u>Section 6.22</u>. The Administrative Agent shall have received copies of the certificates of insurance reflecting (i) in the case of liability insurance, the Collateral Agent, on behalf of the Secured Parties as an additional insured thereunder as its interests may appear and (ii) in the case property insurance, an additional loss payable clause that names the Collateral Agent, on behalf of the Secured Parties as an additional loss payee thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall have received a rating (but not any specific rating) from S&P and Moody's in respect of the Term Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;The Sponsors shall have made (or shall make substantially concurrently with the initial Borrowing under this Agreement) an Equity Contribution to the Borrower in an amount at least equal to the Required Equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall have delivered to the Administrative Agent true and complete copies of (i) all Material Project Documents required to be in effect as of the Closing Date, (ii) the CP2/Matterhorn Consent Agreement and (iii) the O&M Consent Agreement, and, in each case, each such document shall have been duly executed and delivered by the Persons intended to be parties thereto, shall be in full force and effect and recorded (where applicable) and shall be in form and substance reasonably satisfactory to the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall have delivered to the Administrative Agent an electronic copy of the financial model for the Project (the "**Closing Date Financial Model**"), which Closing Date Financial Model shall (i) include the underlying models and the incorporation of appropriate operating assumptions agreed by the Independent Engineer, in each case, containing projections of revenues and cash flows with respect to the Project and proving resistance to reasonable sensitivities and downside scenarios, (ii) be consistent in all material respects with the applicable terms and conditions of the Loan Documents and the Material Project Documents, (iii) include at least the minimum Required Equity, (iv) demonstrate a minimum forecast Debt Service Coverage Ratio (excluding, for the avoidance of doubt, mandatory prepayments under <u>Section 2.03(b)(i)</u>) of not less than 1.30:1.00, and (v) otherwise be in form and substance reasonably satisfactory to each initial Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent shall have received a copy of each of (i) the Construction Budget and (ii) the Project Schedule, in each case certified as such by a Responsible Officer, and in form and substance reasonably acceptable to each Lender in consultation with the Independent Engineer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;The Construction Contractors are, as of the Closing Date, in material compliance with the construction schedules set forth in the Construction Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth on <u>Schedule 4.01(p)</u>, all Permits necessary for the development, construction, operation, maintenance and management of the Project (A) have been obtained, filed or made with the corresponding Governmental Authorities, as applicable, (B) are in full force and effect and (C) except as disclosed on <u>Schedule 4.01(p)</u>, are not be subject to any pending appeal or other proceedings that if determined adversely, would reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;No investigations, actions, suits, proceedings, claims or disputes pending or, to the Borrower's knowledge, threatened in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against any Loan Party or against any of their respective properties or revenues shall exist that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

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

**ARTICLE V <br>REPRESENTATIONS AND WARRANTIES**

Each of the Borrower and the Permitted Subsidiary (and, solely to the extent applicable to it, the Parent) represents and warrants to the Agents and the Lenders as of the Closing Date that:

Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Existence, Qualification and Power; Compliance with Laws</u>. Each Loan Party (a) is a Person duly organized or formed, validly existing and in good standing (where relevant) under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority to (i) own or lease its assets and carry on its business as currently conducted and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, (c) is duly qualified and in good standing (where relevant) under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, (d) is in compliance with all Laws, orders, writs and injunctions and (e) has all requisite governmental licenses, authorizations, consents and approvals to operate its business as currently conducted; except in each case, referred to in <u>clauses (a)</u> (other than with respect to the Borrower), <u>(b)(i)</u>, <u>(c)</u>, <u>(d)</u> or <u>(e)</u>, to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect.

Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorization; No Contravention</u>. The execution, delivery and performance by each Loan Party of each Loan Document to which it is a party, and the consummation of the Transactions, are within such Loan Party's corporate or other powers, (a) have been duly authorized by all necessary corporate or other organizational action, and (b) do not (i) contravene the terms of any of such Person's Organization Documents, (ii) conflict with or result in any breach or contravention of, or the creation of any Lien under (other than as permitted by <u>Section 7.01</u>), or require any payment to be made under (x) any Contractual Obligation to which it is a party or affecting it or its properties or (y) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which it or its property

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is subject; or (iii) violate any Law binding on it; in each case of this clause (b), to the extent that such violation, conflict, breach, contravention or payment would not reasonably be expected to have a Material Adverse Effect.

Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Governmental Authorization</u>. No material approval, consent, exemption, authorization or other action by, or notice to, or filing with, any Governmental Authority is necessary or required in connection with (a) the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, or for the consummation of the Transactions, (b) the grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents, (c) the perfection or maintenance of the Liens created under the Collateral Documents (including the priority thereof) or (d) the exercise by the Administrative Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the Collateral Documents, except for (i) filings, recordings and registrations with Governmental Authorities necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties, (ii) filings, recordings and registrations with Governmental Authorities to the extent required by Regulation T, U or X promulgated by the FRB, (iii) the approvals, consents, exemptions, authorizations, actions, notices and filings which have been duly obtained, taken, given or made and are in full force and effect (except to the extent not required to be obtained, taken, given or made or to be in full force and effect pursuant to the Collateral and Guarantee Requirement) and (iv) those approvals, consents, exemptions, authorizations or other actions, notices or filings, the failure of which to obtain or make would not reasonably be expected to have a Material Adverse Effect.

Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Effect</u>. This Agreement and each other Loan Document has been duly executed and delivered by each Loan Party that is a party thereto. This Agreement and each other Loan Document constitutes, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is a party thereto in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity.

Section 5.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Statements; No Material Adverse Effect</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The forecasts of consolidated balance sheets and consolidated statements of income and cash flow (including the Projections) of the Borrower which have been furnished to the Administrative Agent prior to the Closing Date have been prepared in good faith on the basis of the assumptions stated therein, which assumptions were believed to be reasonable at the time of preparation of such forecasts, it being understood that such forecasts are as to future events and not to be viewed as facts, such forecasts are subject to significant uncertainties and contingencies, many of which are beyond the Borrower's control, that no assurance can be given that any particular projections will be realized and actual results may vary from such forecasts and that such variations may be material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Since June 30, 2025, there has been no event or circumstance, either individually or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;As of the Closing Date, no Loan Party has any Indebtedness or other obligations or liabilities, direct or contingent (other than (i) the liabilities reflected on <u>Schedule 5.05</u>, (ii) obligations arising under the Loan Documents and (iii) liabilities incurred in the ordinary course of business that, either individually or in the aggregate, have not had or would not reasonably be expected to have a Material Adverse Effect).

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Section 5.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Litigation</u>. There are no actions, suits, proceedings, claims or disputes pending or, to the Borrower's knowledge, threatened in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against any Loan Party or against any of their respective properties or revenues that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

Section 5.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Environmental Matters</u>. Except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;each Loan Party and its respective assets and operations are and, other than any matters which have been finally resolved without further liability or obligation, within the past three (3) years have been, in compliance with all Environmental Laws, which includes obtaining, maintaining in full force and effect, and complying with all Environmental Permits required under such Environmental Laws to carry on the business of the Loan Parties as currently conducted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;no Loan Party is subject to any Environmental Liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Loan Parties have not received any written notice that alleges any of them is in violation of any Environmental Laws or subject to any Environmental Liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;none of the Loan Parties or any of their respective real property is the subject of any claims, investigations, liens, or judicial or administrative proceedings pending or, to the Borrower's knowledge, threatened, under any Environmental Law, including with respect to any of the foregoing that would result in the revocation, suspension or adverse modification of any Environmental Permit held by any of the Loan Parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;no Release of Hazardous Materials has occurred on real property or facilities currently owned or leased by any of the Loan Parties or, to the Borrower's knowledge, real property or facilities formerly owned, operated or leased by the Loan Parties that would reasonably be expected to require investigation, remedial activity or corrective action or cleanup by any Loan Party pursuant to any Environmental Law.

Section 5.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u>. Except as would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, each of the Loan Parties have filed all tax returns and reports required to be filed, and have paid all Taxes levied or imposed upon them or their properties, income or assets that are due and payable, except those which are being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP. There is no proposed Tax deficiency or assessment known to any Loan Party against the Loan Parties that would, if payment of such proposed Tax deficiency or assessment is made, either individually or in the aggregate, have a Material Adverse Effect.

Section 5.09&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA Compliance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, each Plan maintained by a Loan Party or ERISA Affiliate is in compliance with the applicable provisions of ERISA and the Code and the regulations and published interpretations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) No ERISA Event has occurred during the five (5) year period prior to the date on which this representation is made or deemed made or is reasonably expected to occur; (ii) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title

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IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iii) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Section 4201 of ERISA with respect to a Multiemployer Plan; and (iv) neither any Loan Party nor any ERISA Affiliate has engaged in a transaction that could reasonably be expected to be subject to Sections 4069 or 4212(c) of ERISA, except, with respect to each of the preceding clauses of this <u>Section 5.09(b)</u>, as would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;(i) The Plans of any Loan Party and any ERISA Affiliate are funded to the extent required by the terms of each Plan, if any, and by Law or otherwise to comply with the requirements of any Law applicable in the jurisdiction in which the relevant pension scheme is maintained, and (ii) neither any Loan Party nor any ERISA Affiliate maintains or contributes to a Plan that is, or is expected to be, in at-risk status (as defined in Section 303(i)(4) of ERISA or Section 430(i)(4) of the Code), except, with respect to each of the preceding clauses of this <u>Section 5.09(c)</u>, as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

Section 5.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsidiaries</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;As of the Closing Date, the Borrower has no Subsidiaries other than the Permitted Subsidiary and has no other equity or other interest in or otherwise controls any Voting Stock of or has any direct or indirect ownership interest in, any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;As of the Closing Date, the Parent has no Subsidiaries other than the Borrower and the Permitted Subsidiary and has no other equity or other interest in or otherwise controls any Voting Stock of or has any direct or indirect ownership interest in, any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;As of the Closing Date, the Permitted Subsidiary has no Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;As of the Closing Date, all of the outstanding Equity Interests of the Borrower and the Permitted Subsidiary have been validly issued and are fully paid and all Equity Interests owned by the Parent in the Borrower and by the Borrower in the Permitted Subsidiary are owned free and clear of all Liens except (i) those created under the Collateral Documents and (ii) any Lien that is not prohibited by Section 7.01.

Section 5.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Margin Regulations; Investment Company Act</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;No Loan Party is engaged, nor will any Loan Party engage, principally or as one of its important activities, in the business of purchasing or carrying Margin Stock, or extending credit for the purpose of purchasing or carrying Margin Stock, in either case in violation of Regulation U.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;No part of the proceeds of any Loan will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that entails a violation of the regulations of the FRB, including Regulation T, U or X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;No Loan Party, nor any Person Controlling a Loan Party, is or is required to be registered as an "investment company" under the Investment Company Act of 1940.

Section 5.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure</u>. As of the Closing Date, no report, financial statement, certificate or other written information furnished by or on behalf of any Loan Party (other than projected financial

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information and information of a general economic or industry nature) to any Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (as modified or supplemented by other information so furnished), when taken as a whole, contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements therein (when taken as a whole), in the light of the circumstances under which they were made, not materially misleading. With respect to projected financial information and *pro forma* financial information, the Borrower represents, as of the Closing Date, that such information was prepared in good faith based upon assumptions believed to be reasonable at the time of preparation; it being understood that such projections may vary from actual results and that such variances may be material.

Section 5.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Solvency</u>. On the Closing Date, after giving effect to the Transactions, the Loan Parties, on a consolidated basis, are Solvent.

Section 5.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Sanctions; Anti-Corruption Laws; and Anti-Money Laundering Laws</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Loan Party is in compliance, in all material respects, with applicable Sanctions, Anti-Corruption Laws, and Anti-Money Laundering Laws. Each Loan Party, either itself of through its direct or indirect Subsidiaries with active business operations, maintains and enforces or is subject to, as the case may be, policies and procedures reasonably designed to promote and achieve compliance with applicable Anti-Corruption Laws, Anti-Money Laundering Laws and Sanctions by such Loan Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;None of the Loan Parties or any of the respective directors, officers or, to the knowledge of each Loan Party, employees or agents of any of the Loan Parties is a Sanctioned Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;None of the Loan Parties will use any part of the proceeds of the Loans, directly or knowingly indirectly, (i) in violation of any applicable Anti-Corruption Laws or Anti-Money Laundering Laws; (ii) to fund, finance or facilitate any activities, dealings or business, with any Sanctioned Person or Sanctioned Country; or (iii) in any manner that would constitute or give rise to a violation of Sanctions by any party hereto.

Section 5.16&nbsp;&nbsp;&nbsp;&nbsp;<u>No Default</u>. No Default or Event of Default, and no Default (as defined in the TLA/Revolving Credit Agreement) or Event of Default (as defined in the TLA/Revolving Credit Agreement), has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document.

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Section 5.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Title to Properties</u>. Each Loan Party holds good and legal title to, or interest in, all revenues, properties or assets that it owns, or leases, or holds an easement interest in, and on which it purports to grant Liens pursuant to the Collateral Documents, including all Project assets, and such property is not subject to any Liens other than Permitted Liens, except where the failure to have such title or interest would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Section 5.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Material Project Documents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower is in compliance in all material respects with each Material Project Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;To the Borrower's knowledge, each Material Project Counterparty is in compliance with the Material Project Documents to which it is party, except, in either case, where such failure to comply would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Section 5.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Pari Passu</u>. The Loan Parties' obligations under the Loan Documents are secured and unsubordinated obligations and rank at least *pari passu* in priority of payment with all unsecured obligations of the Loan Parties outstanding at any time except for any obligations of the Loan Parties (including any pension, social security and employment obligations) held by those whose claims are preferred under any bankruptcy or insolvency procedures to the extent required by the terms of any applicable Law.

Section 5.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u>. The proceeds of the Initial Term Loans received on the Closing Date shall be used to (i) consummate the Closing Date Distribution, (ii) fund a portion of the Project Costs, (iii) fund the Project Accounts in accordance with the Security and Depositary Agreement and (iv) fund the Transaction Expenses.

<u>Section 5.21&nbsp;&nbsp;&nbsp;&nbsp;Licenses, Permits, Etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All Permits necessary under applicable Law in connection with (i) each Loan Party's execution, delivery and performance of the Loan Documents and Material Project Documents to which it is a party or (ii) the Borrower's ownership, construction, operation and maintenance of the Project as necessary for the Borrower to conduct its business and comply with its obligations under this Agreement and the TLA/Revolver Credit Agreement are collectively set forth on Schedule 4.01(p), other than non-material Permits that are of a routine nature and generally obtainable in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Permits set forth on Part A of Schedule 4.01(p) constitute all Permits that are required to be or have been obtained as of the date hereof in connection with the current stage of construction, management and/or operation of the Project, except for any non-material Permits that are of a routine nature and generally obtainable in the ordinary course of business, for (i) each Loan Party's execution and delivery of the Loan Documents and Material Project Documents to which it is a party and (ii) the Borrower's ownership, construction, operation and maintenance of the Project. With respect to the Permits set forth on Part A of Schedule 4.01(p), (A) such Permits have been obtained, filed or made with the corresponding Governmental Authorities, as applicable, (B) such Permits are in full force and effect, (C) all fixed time periods for any appeal, if any such time periods are expressly set forth in the applicable Law pursuant to which such Permit has been issued, that may allow modification or revocation of such Permits have expired and (D) except as disclosed on Schedule 4.01(p), there are no proceedings pending,

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or to the Borrower's knowledge, threatened in writing seeking to rescind, terminate, adversely and materially modify, suspend, revoke or invalidate such Permits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Permits set forth on Part B of Schedule 4.01(p) are required solely in connection with stages of construction, management and/or operation of the Project that will occur after the Closing Date. The Borrower has no reason to believe, on the date this representation is made or deemed to be made, that any such Permit that has not yet been obtained, but which will be required in the future, will not be obtained in the ordinary course, without undue expense and on terms and conditions that are not materially inconsistent with the Borrower's performance under the Material Project Documents on or prior to the date required under the Material Project Documents and Applicable Law and in a manner that allows for the Conversion Date to be achieved by the Date Certain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower is in compliance with all Permits which have been issued to it as of the date this representation is made or deemed to be made, except where the failure to be in compliance could not reasonably be expected to result in a Material Adverse Effect.

Section 5.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Real Property</u>. (a) The Project, together with any pipeline systems, natural gas processing plants, compression stations, or terminals situated on, or projected to be situated on, the Project Property Rights granted to the Borrower or any other Loan Party, are situated entirely within the boundaries of such Project Property Rights and (b) such facilities do not encroach upon any adjoining property, except, in the case of (a) or (b), as would not reasonably be expected to result in a Material Adverse Effect. Furthermore, the Material Projects and all related pipeline systems, natural gas processing plants, compression stations, or terminals—whether owned or leased by the Borrower or any other Loan Party—and their operation and maintenance, (i) do not contravene any applicable zoning or building laws, ordinances, or other administrative regulations; and (ii) do not violate any applicable restrictive covenants or governmental rules; except in each case where such contravention or violation would not reasonably be expected to have a Material Adverse Effect.

**ARTICLE VI <br>AFFIRMATIVE COVENANTS**

Until Payment in Full, from and after the Closing Date, the Borrower shall (and, solely to the extent applicable to it, the Parent shall):

Section 6.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Statements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Deliver to the Administrative Agent for prompt further distribution to each Lender, within one hundred and twenty (120) days after the end of each fiscal year, commencing with the fiscal year ending December 31, 2025, a balance sheet of the Borrower, as at the end of such fiscal year, and the related statements of income or operations, stockholders' equity and cash flows for such fiscal year, setting forth in each case in comparative form, commencing with the fiscal year ending December 31, 2026, the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of an independent registered public accounting firm of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not contain any qualifications or exceptions as to the scope of such audit or any "going concern" explanatory paragraph or like qualification (other than resulting from (x) the impending maturity of any Indebtedness or (y) any actual or prospective breach of any financial covenant contained in any Indebtedness), together with a customary management discussion and analysis of financial information; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Deliver to the Administrative Agent for prompt further distribution to each Lender, within sixty (60) days after the end of each of the first three (3) fiscal quarters of each fiscal year, commencing with the fiscal quarter ending March 31, 2026, a balance sheet of the Borrower as at the end of such fiscal quarter and in comparative format, the prior fiscal year-end and the related statements of income or operations for such fiscal quarter and the portion of the fiscal year then ended, setting forth in comparative form, commencing with the quarterly financial statements for the quarter ending March 31, 2027, the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, and statements of stockholders' equity for the current fiscal quarter and statement of cash flows for the portion of the fiscal year then ended, setting forth in each case in comparative form, commencing with the quarterly financial statements for the quarter ending March 31, 2027, the figures for the corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of the Borrower as fairly presenting in all material respects the financial condition, results of operations, stockholders' equity and cash flows of the Borrower in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes.

Notwithstanding the foregoing, the obligations in <u>paragraphs (a)</u> and <u>(b)</u> of this <u>Section 6.01</u> may be satisfied with respect to financial information of the Borrower by furnishing (A) the applicable financial statements of the Borrower (or any Parent Company of the Borrower) or (B) the Borrower's (or any Parent Company thereof), as applicable, Form 10-K or 10-Q, as applicable, filed with the SEC; *provided* that, with respect to clauses (A) and (B), (i) to the extent such information relates to a parent or parents of the Borrower, such information is accompanied by consolidating information that explains in reasonable detail the differences between the information relating to the Borrower (or such parents), on the one hand, and the information relating to the Borrower on a stand-alone basis, on the other hand and (ii) to the extent such information is in lieu of information required to be provided under <u>Section 6.01(a)</u>, such materials are accompanied by a report and opinion of any independent registered public accounting firm of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted auditing standards and, except as permitted in <u>Section 6.01(a)</u>, shall not contain any qualifications or exceptions as to the scope of such audit or any "going concern" explanatory paragraph or like qualification (other than resulting from (x) the impending maturity of any Indebtedness or (y) any actual or prospective breach of any financial covenant contained in any Indebtedness).

Documents required to be delivered pursuant to this <u>Section 6.01</u> and <u>Sections 6.02(b)</u> may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower (or any Parent Company of the Borrower) posts such documents, or provides a link thereto on the website on the Internet at the Borrower's website; or (ii) on which such documents are posted on the Borrower's behalf on Debtdomain, Roadshow Access (if applicable) or another relevant website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); *provided* that: (i) upon written request by the Administrative Agent, the Borrower shall deliver paper copies of such documents to the Administrative Agent for further distribution to each Lender until a written request to cease delivering paper copies is given by the Administrative Agent and (ii) the Borrower shall notify (which may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (*i.e.*, soft copies) of such documents. Each Lender shall be solely responsible for timely accessing posted documents or requesting delivery of paper copies of such documents from the Administrative Agent and maintaining its copies of such documents.

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Section 6.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Certificates; Other Information</u>. Deliver to the Administrative Agent for prompt further distribution to each Lender:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;no later than five (5) days after the actual delivery of the financial statements referred to in <u>Sections 6.01(a)</u> and <u>(b)</u>, a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;promptly after the same are publicly available, copies of all annual, regular, periodic and special reports and registration statements which any Loan Party files with the SEC or with any Governmental Authority that may be substituted therefor (other than amendments to any registration statement (to the extent such registration statement, in the form it became effective, is delivered), exhibits to any registration statement and, if applicable, any registration statement on Form S-8) and in any case not otherwise required to be delivered to the Administrative Agent pursuant hereto; *provided* that notwithstanding the foregoing, the obligations in this <u>Section 6.02(b)</u> may be satisfied so long as such information is publicly available on the SEC's EDGAR website;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;promptly after the furnishing thereof, copies of any material requests or material notices received by any Loan Party (other than in the ordinary course of business) or material statements or material reports furnished to any holder of debt securities (other than in connection with any board observer rights) of any Loan Party pursuant to the terms of any Indebtedness that is unsecured or secured by a Junior Lien, if any, and any Permitted Refinancing thereof, in each case in a principal amount in excess of the Threshold Amount, and not otherwise required to be furnished to the Lenders pursuant to any other clause of this Section 6.02;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;together with the delivery of each Compliance Certificate pursuant to <u>Section 6.02(a)</u>, (i) in the case of annual Compliance Certificates only, a report setting forth the legal name and the jurisdiction of formation of each Loan Party and the location of the chief executive office of each Loan Party or confirming that there has been no change in such information since the later of the Closing Date or the delivery of the last annual Compliance Certificate to the Administrative Agent and (ii) a description of each event, condition or circumstance during the last fiscal quarter covered by such Compliance Certificate requiring a mandatory prepayment under <u>Section 2.03(b)</u> (other than <u>Section 2.03(b)(i)(A)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;together with the delivery of each Compliance Certificate pursuant to <u>Section 6.02(a)</u>, (i) prior to the Conversion Date, a construction progress report with respect to the Project in form and substance reasonably satisfactory to the Administrative Agent and (ii) after the Conversion Date, an operating report with respect to the Project in form and substance reasonably satisfactory to the Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;(i) until such time as "Substantial Completion" shall have occurred pursuant to the Compression System Installation Contract, no earlier than 10 Business Days prior to the end of each fiscal quarter and (ii) within 10 Business Days after the date of "Substantial Completion" shall have occurred pursuant to the Compression System Installation Contract, a certificate of the Independent Engineer substantially in the form of <u>Exhibit J</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;concurrently with the delivery of financial statements referred to in <u>Sections 6.01(a)</u>, an annual operating budget for the Borrower for the then current fiscal year prepared using the substantially same methodology as the Closing Date Financial Model (it being understood that the foregoing shall be

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delivered for informational purposes only and in no event shall the annual operating budget require Lender approval or otherwise be subject to any caps or variance limitations); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;promptly, such additional information regarding the business, legal, financial or corporate affairs of the Loan Parties, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender through the Administrative Agent may from time to time reasonably request.

The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Lead Arrangers will make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively, "**Borrower Materials**") by posting the Borrower Materials on Debtdomain, Roadshow Access (if applicable) or another similar electronic system (the "**Platform**") and (b) certain of the Lenders may be "public-side" Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Borrower or its securities) (each, a "**Public Lender**"). At the request of the Lead Arrangers, the Borrower hereby agrees to make all Borrower Materials that the Borrower intends to be made available to Public Lenders clearly and conspicuously designated as "PUBLIC". By designating Borrower Materials as "PUBLIC", the Borrower authorizes such Borrower Materials to be made available to a portion of the Platform designated "Public Investor," which is intended to contain only information that is publicly available or not material information (though it may be sensitive and proprietary) with respect to the Borrower or its securities for purposes of United States federal and state securities laws or is of a type that would be publicly available if the Borrower was a public reporting company (in each case, as reasonably determined by the Borrower). Notwithstanding the foregoing, the Borrower shall not be under any obligation to mark any Borrower Materials "PUBLIC". The Borrower agrees that (i) any Loan Documents, (ii) any financial statements delivered pursuant to <u>Section 6.01</u> and (iii) any Compliance Certificates delivered pursuant to <u>Section 6.02(a)</u> and (iv) notices delivered pursuant to <u>Section 6.03(a)</u> will be deemed to be "public-side" Borrower Materials and may be made available to Public Lenders.

Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the "Private Side Information" or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender's compliance procedures and applicable law, including United States federal and state securities laws, to make reference to communications that are not made available through the "Public Side Information" portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States federal or state securities laws.

The Platform is provided "as is" and "as available." The Agent-Related Persons do not warrant the adequacy of the Platform. No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of third party rights or freedom from viruses or other code defects, is made by any Agent-Related Person in connection with the Platform.

Section 6.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Promptly after a Responsible Officer of any Loan Party has obtained knowledge thereof, notify the Administrative Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;of the occurrence of any Default;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;of any matter that has resulted or would reasonably be expected to result in a Material Adverse Effect;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;of the filing or commencement of any action, suit, litigation or proceeding, whether at law or in equity by or before any Governmental Authority, (i) against any Loan Party that would reasonably be expected to result in a Material Adverse Effect or (ii) with respect to any Loan Document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;of any action, suit, litigation or proceedings arising under any Environmental Law against any Loan Party or of any noncompliance by any Loan Party with any Environmental Law or Environmental Permit or any Environmental Liability, in each case, that would reasonably be expected to result in a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;of any ERISA Event that would reasonably be expected to result in a Material Adverse Effect.

Each notice pursuant to this <u>Section 6.03</u> shall be accompanied by a written statement of a Responsible Officer of such Loan Party (x) that such notice is being delivered pursuant to <u>Section 6.03(a)</u>, <u>(b)</u>, <u>(c)</u> or <u>(d)</u> (as applicable) and (y) setting forth details of the occurrence referred to therein and stating what action the applicable Loan Party has taken and proposes to take with respect thereto.

Section 6.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment of Tax Obligations</u>. Pay, discharge or otherwise satisfy as the same shall become due and payable in the normal conduct of its business, all its obligations and liabilities in respect of Taxes imposed upon it or upon its income or profits or in respect of its property, except, in each case, (i) to the extent any such Tax is being contested in good faith and by appropriate proceedings for which adequate reserves have been established in accordance with GAAP or (ii) if such failure to pay or discharge such obligations and liabilities would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect.

Section 6.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Preservation of Existence, Etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In the case of each Loan Party, preserve, renew and maintain in full force and effect its legal existence under the Laws of the jurisdiction of its organization except in a transaction permitted by <u>Section 7.04</u> or <u>7.05</u>; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the case of each Loan Party, take all reasonable action to maintain all rights, privileges (including its good standing where applicable in the relevant jurisdiction), permits, licenses and franchises necessary or desirable in the normal conduct of its business,

except, in the case of <u>clause (b)</u>, (i) to the extent that failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or (ii) pursuant to a transaction permitted by <u>Article VII</u>.

Section 6.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Maintenance of Properties</u>. Except if the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order, repair and condition, ordinary wear and tear excepted and fire, casualty or condemnation excepted.

Section 6.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Bank Accounts</u>. The Borrower shall (a) establish and maintain the Project Accounts in accordance with the Security and Depositary Agreement, (b) deposit or transfer all Project Revenues received by the Borrower to the appropriate Project Account in accordance with the Security and Depositary Agreement (including the establishment and maintenance of the Major Maintenance Reserve Account on the Closing Date in accordance with the Security and Depositary Agreement) and (c)

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instruct any Material Project Counterparty to any Material Project Document to remit the proceeds of any amounts due to the Borrower to the appropriate Project Account in accordance with the Security and Depositary Agreement. The Borrower shall cause each Local Account and ROW Account and the Permitted Subsidiary Account to be subject to a Control Agreement within 60 days of the Closing Date (or such longer period as the Administrative Agent may agree in writing) and with respect to Local Accounts or ROW Accounts created after the Closing Date or any replacement Permitted Subsidiary Account permitted hereunder, within 60 days (or such longer period as the Administrative Agent may agree in writing) of the creation of such Local Account, ROW Account or replacement Permitted Subsidiary Account, as applicable.

Section 6.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Books and Records</u>. In the case of each Loan Party, maintain proper books of record and account, in which entries that are full, true and correct in all material respects and are in conformity with GAAP consistently applied and which reflect all material financial transactions and matters involving the material assets and business of such Loan Party.

Section 6.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Laws</u>. In the case of each Loan Party, comply with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except if the failure to comply therewith would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Section 6.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Inspection Rights</u>. In the case of each Loan Party, permit representatives and independent contractors of the Administrative Agent and each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants (subject to such accountants' customary policies and procedures), all at the reasonable expense of the Borrower and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower; *provided* that, excluding any such visits and inspections during the continuation of an Event of Default, only the Administrative Agent on behalf of the Lenders may exercise rights of the Administrative Agent and the Lenders under this <u>Section 6.10</u> and the Administrative Agent shall not exercise such rights more often than one (1) time during any calendar year and only one (1) such time shall be at the Borrower's expense; *provided further* that when an Event of Default exists, the Administrative Agent, the Collateral Agent or any Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and upon reasonable advance notice. The Administrative Agent and the Lenders shall give the Borrower the opportunity to participate in any discussions with the Borrower's independent public accountants. Notwithstanding anything to the contrary in this <u>Section 6.10</u>, none of the Loan Parties shall be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter that (i) constitutes nonfinancial trade secrets or non-financial proprietary information, (ii) in respect of which disclosure to the Administrative Agent or any Lender (or their respective representatives or contractors) is prohibited by Law or (iii) is subject to attorney-client or similar privilege or constitutes attorney work-product.

Section 6.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Collateral</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;As promptly as practicable after the reasonable request therefor by the Administrative Agent or the Collateral Agent (at the direction of the Required Lenders), deliver to the Collateral Agent with respect to each Material Real Property, any existing title reports, abstracts or non-privileged environmental assessment reports, to the extent available and in the possession or control of the

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Borrower; *provided*, *however*, that there shall be no obligation to deliver to the Administrative Agent or Collateral Agent any existing environmental assessment report whose disclosure to the Administrative Agent or Collateral Agent would require the consent of a Person other than the Borrower, where, despite the commercially reasonable efforts of the Borrower to obtain such consent, such consent cannot be obtained; *provided further* that, if any assessment reports are withheld due to privilege or inability to obtain the required consent, Borrower shall ensure that any facts or conditions identified in such assessments have been disclosed to Lenders to the extent such facts or conditions relate to any material violation of Environmental Law or an Environmental Liability; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(A) Not later than 120 days after (x) the acquisition by any Loan Party of any Material Real Property or (y) any piece of Immaterial Real Property becoming Material Real Property, in each case as determined by the Borrower (acting reasonably and in good faith) (or such longer period as the Administrative Agent may agree in writing in its discretion) cause such Material Real Property to be subject to a Lien and Mortgage in favor of the Collateral Agent for the benefit of the Secured Parties and take, or cause the relevant Loan Party to take, such actions as shall be reasonably requested by the Administrative Agent or the Collateral Agent (at the direction of the Required Lenders) to grant and perfect or record such Lien, in each case to the extent required by, and subject to the applicable limitations and exceptions of, the Collateral and Guarantee Requirement and to otherwise comply with the requirements of the Collateral and Guarantee Requirement; and (B) as promptly as practicable after the reasonable request therefor by the Administrative Agent or the Collateral Agent (at the direction of the Required Lenders), deliver to the Collateral Agent with respect to each such acquired Material Real Property, any existing title reports, abstracts, surveys, appraisals or non-privileged environmental assessment reports, to the extent available and in the possession or control of the Loan Parties; *provided*, *however*, that there shall be no obligation to deliver to the Administrative Agent or Collateral Agent any existing environmental assessment report or appraisal whose disclosure to the Administrative Agent or Collateral Agent would require the consent of a Person other than the Borrower where, despite the commercially reasonable efforts of the Borrower to obtain such consent, such consent cannot be obtained; *provided further* that, if any assessment reports are withheld due to privilege or inability to obtain the required consent, Borrower shall ensure that any facts or conditions identified in such assessments have been disclosed to Lenders to the extent such facts or conditions relate to any material violation of Environmental Law or an Environmental Liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;To the extent not previously delivered pursuant to clause (h) of the definition of "Collateral and Guarantee Requirements", with respect to any Material Real Property, within 120 days of the earlier of (x) completion of the construction of the improvements on such Material Real Property and (y) the Conversion Date, deliver to the Administrative Agent and the Collateral Agent (i) Surveys with respect to such Material Real Property, provided, however, that in no event shall any Loan Party be obligated to obtain Surveys with respect to any Immaterial Real Property, and (ii) endorsements to the Mortgage Policies for such Material Real Property that include deletion of area and boundary, T-3 (omitting the general mechanics' lien exception, if applicable), comprehensive T-19, T-23 and T-30.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;At the Borrower's expense, take all action necessary or reasonably requested by the Administrative Agent or the Collateral Agent to ensure that the Collateral and Guarantee Requirement continues to be satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If reasonably requested by the Administrative Agent or Collateral Agent, within thirty (30) days after such request (or such longer period as the Administrative Agent may agree in writing in its discretion), deliver to the Collateral Agent any other items necessary from time to time to satisfy the Collateral and Guarantee Requirement with respect to perfection and existence of security interests with

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respect to property of any Loan Party acquired after the Closing Date and subject to the Collateral and Guarantee Requirement.

Section 6.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Assurances</u>. In the case of each Loan Party, promptly upon reasonable request by the Administrative Agent or the Collateral Agent (a) correct any material defect or error that may be discovered in the execution, acknowledgment, filing or recordation of any Intercreditor Agreement or any Collateral Document or other document or instrument relating to any Collateral, and (b) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments as the Administrative Agent or the Collateral Agent may reasonably request from time to time in order to carry out more effectively the purposes of any Intercreditor Agreement or the Collateral Documents, to the extent required pursuant to the Collateral and Guarantee Requirement.

Section 6.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Maintenance of Ratings</u>. In respect of the Borrower, use commercially reasonable efforts to cause the Initial Term Loans to be continuously rated (but not any specific rating) by S&P and Moody's.

Section 6.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Accounting Changes</u>. Continue to use the same fiscal year; *provided*, *however*, that the Borrower may, upon written notice to the Administrative Agent, change its fiscal year to any other fiscal year reasonably acceptable to the Administrative Agent, in which case, the Borrower and the Administrative Agent will, and are hereby authorized by the Lenders to, make any adjustments to this Agreement that are necessary to reflect such change in fiscal year.

Section 6.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u>. The Borrower will use the proceeds of the Loans only as permitted pursuant to <u>Section 5.14(c)</u> and <u>Section 5.20</u>.

Section 6.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Post-Closing Deliveries</u>. The Loan Parties hereby agree to deliver, or cause to be delivered, to Administrative Agent, in form and substance reasonably satisfactory to Administrative Agent, the items described on <u>Schedule 6.16</u> hereof on or before the dates specified with respect to such items, or such later dates as may be agreed to by the Administrative Agent in its sole discretion.

Section 6.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Lender Calls</u>. Solely to the extent requested by the Administrative Agent in writing, commencing with the fiscal year ending December 31, 2026 hold a conference call (at a date and time to be determined by the Borrower in its sole discretion, but, in any event, (x) no earlier than the Business Day following the delivery of annual financial statements pursuant to Section 6.01(a), for such fiscal year and (y) on a Business Day and during customary business hours in New York City) with all Lenders who choose to attend such conference call.

Section 6.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Change in Nature of Business</u>. Continue to, engage in any material lines of business which are not substantially different from those lines of business conducted by the Borrower on the Closing Date or any business reasonably related, complementary, synergistic or ancillary thereto or reasonable extensions thereof (including any geographic expansion of the business).

Section 6.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Separateness.</u>

The Borrower shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;act solely in its name and through its duly Responsible Officers, managers or agents in the conduct of its businesses;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;conduct its business solely in its own name, in a manner not misleading to other Persons as to its identity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;provide for the payment of its own operating expenses and liabilities from its own funds (and not from the funds of the Parent or any other Affiliate of the Parent, except in the case where such funds were contributed as equity to the Borrower) or as otherwise permitted by the Loan Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;obtain proper authorization from member(s), director(s) and manager(s), as required by its constitutional documents for all of its actions, except as could not reasonably be expected to (i) have a Material Adverse Effect or (ii) materially increase the likelihood of consolidation between such Person and any Affiliate of such Person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;comply in all material respects with the terms of its constitutional documents.

Section 6.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Permits</u>. The Borrower shall, at the time that each such Permit is required under applicable Law in connection with the applicable stages of development, construction, management and/or operation of the Project, obtain and thereafter maintain in full force and effect each Permit listed on <u>Schedule 4.01(p)</u> held in the name of the Borrower and shall comply with all obligations in all material respects (including all mandatory reporting and/or filing requirements) binding on the Borrower under such Permits, except, in each case, to the extent that any failure to do so would not reasonably be expected to result in a Material Adverse Effect. In the event that a Permit that is set forth on <u>Schedule 4.01(p)</u> is obtained, the Borrower shall, promptly after issuance thereof, notify the Administrative Agent regarding the receipt thereof and attaching copies of such Permits.

Section 6.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Sanctions; Anti-Corruption Laws; and Anti-Money Laundering Laws</u>. Each Loan Party shall comply, in all material respects, with applicable Sanctions, Anti-Corruption Laws, and Anti-Money Laundering Laws. Each Loan Party shall continue to maintain and enforce or be subject to policies and procedures reasonably designed to promote and achieve compliance with applicable Anti-Corruption Laws, Anti-Money Laundering Laws and Sanctions by such Loan Party and each of its Subsidiaries.

Section 6.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Insurance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower will obtain and maintain the insurance and reinsurance coverages described on <u>Schedule 6.22</u> (the "**Insurance Policies**") pursuant to the terms set forth in such Schedule. If at any time any of the Insurance Policies shall no longer be available on commercially reasonable terms, then the Borrower shall after consultation with the Insurance Consultant, replace such policies with what is commercially available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;To the extent any Mortgaged Property is subject to the provisions of the Flood Insurance Law (i) (x) at least twenty (20) days prior to the delivery of the mortgage in favor of the Collateral Agent in connection therewith, and (y) at any other time if necessary for compliance with applicable Flood Insurance Law, provide the Collateral Agent with a standard flood hazard determination form for such Mortgaged Property, which flood hazard determination form shall be addressed to the Collateral Agent, and otherwise comply with the Flood Insurance Law and (ii) if any such Mortgaged Property is located in an area designated a "flood hazard area" in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), obtain flood insurance in such reasonable total amount as the Administrative Agent or the Collateral Agent may from time to time reasonably require, and otherwise to ensure compliance with the Flood Insurance Law. In addition, to the extent the Borrower and the Loan Parties fail to obtain or maintain satisfactory flood insurance required pursuant to

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the preceding sentence with respect to any Mortgaged Property, the Collateral Agent shall be permitted, in its sole discretion, to obtain forced placed insurance at the Borrower's expense to ensure compliance with any applicable Flood Insurance Law.

Section 6.23&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Rate Hedging</u>. The Borrower shall, no later than sixty days after the Closing Date, enter into (including by way of amendment, assignment, transfer, novation or conversion of any existing Hedging Agreement), and thereafter maintain in full force and effect at all times on or prior to and including the latest Maturity Date, Hedging Agreements with one or more Hedge Providers for the purpose of converting to a fixed rate a sufficient amount of Senior Secured Credit Facility Loans under the Senior Secured Credit Facilities and Incremental Equivalent Debt, such that at least 50%, (the "**Minimum Hedge Requirement**") but not more than 105% (the "**Maximum Hedge Requirement**"), in each case, of the aggregate notional principal amount projected to be outstanding under, collectively, the Senior Secured Credit Facilities and any Incremental Equivalent Debt during the agreed term and assumed amortization profile, is either at (x) a fixed rate or (y) a floating rate that has been hedged to effectively fix the Borrower's floating interest rate exposure. The Interest Rate Hedge Agreements entered into with Hedge Providers shall rank *pari passu* with the Parity Lien Debt in all respects at all times (including in terms of security, guarantees (other than with respect to Excluded Swap Obligations) and priority of payment), the Hedge Providers shall enter into or accede to the First Lien Intercreditor Agreement and the Hedge Providers will share the benefit of the security as a Secured Party.

**ARTICLE VII <br>NEGATIVE COVENANTS**

Until Payment in Full, from and after the Closing Date:

Section 7.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Liens</u>. The Borrower shall not, directly or indirectly, create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following (the following, "**Permitted Liens**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens pursuant to any Loan Document (including, for the avoidance of doubt, Liens securing Incremental Loans, Extended Loans or any Refinancing Series) and (ii) Liens securing Indebtedness in respect of Secured Hedging Agreements permitted pursuant to <u>Section 7.03(e)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens existing on the Closing Date and listed on <u>Schedule 7.01(b)</u> and (ii) any modifications, replacements, renewals, refinancings, or extensions of any of the foregoing; *provided* that (A) the Lien does not extend to any additional property other than (x) after-acquired property that is affixed or incorporated into the property covered by such Lien, and (y) proceeds and products thereof, and (B) the replacement, renewal, extension or refinancing of the obligations secured or benefited by such Liens, to the extent constituting Indebtedness, is permitted by <u>Section 7.03</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Liens for Taxes (i) that are not overdue for a period of more than sixty (60) days or (ii) that are being contested in good faith and by appropriate actions, if adequate reserves with respect thereto are maintained on the books of the applicable Person to the extent required in accordance with GAAP;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;statutory or common law Liens of landlords, sublandlords, carriers, warehousemen, mechanics, materialmen, repairmen, construction contractors or like Liens that secure amounts not overdue for a period of more than sixty (60) days, or if more than sixty (60) days overdue, that are unfiled and no other action has been taken to enforce such Lien or that are being contested in good faith and by appropriate actions diligently conducted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;(i) pledges, deposits or Liens in the ordinary course of business in connection with workers' compensation, unemployment insurance and other social security legislation and (ii) pledges and deposits in the ordinary course of business securing liability for reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of) insurance carriers providing property, liability or casualty insurance to the Borrower or any other Loan Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;pledges, deposits or Liens to secure the performance of bids, trade contracts, governmental contracts and leases (other than Indebtedness for borrowed money), statutory or regulatory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like nature (including (i) those to secure health, safety and environmental obligations and (ii) letters of credit and bank guarantees required or requested by any Governmental Authority in connection with any contract or Law) incurred in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Liens (i) securing judgments or orders for the payment of money not constituting an Event of Default under <u>Section 8.01(h)</u> or (ii) securing appeal or other surety bonds related to such judgments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;leases, licenses, subleases or sublicenses granted to others in the ordinary course of business which do not (i) interfere in any material respect with the business of the Borrower and the other Loan Parties, taken as a whole or (ii) secure any Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course of collection and (ii) in favor of a banking or other financial institution arising as a matter of Law or under customary general terms and conditions encumbering deposits or other funds maintained with a financial institution (including the right of set-off) and that are within the general parameters customary in the banking industry or arising pursuant to such banking institution's general terms and conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Liens (i) on cash advances or Cash Equivalents in favor of the seller of any property to be acquired in an Investment permitted pursuant to <u>Sections 7.02</u> to be applied against the purchase price for such Investment, and (ii) consisting of an agreement to Dispose of any property in a Disposition permitted under <u>Section 7.05</u>, in each case, solely to the extent such Investment or Disposition, as the case may be, would have been permitted on the date of the creation of such Lien;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of the Borrower or any other Loan Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;any interest or title of a lessor, sublessor, licensor or sublicensor under leases, subleases, licenses or sublicenses entered into by the Borrower or any other Loan Party in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Liens that are contractual rights of set-off or rights of pledge (i) relating to the establishment of depository relations with banks not given in connection with the issuance of Indebtedness or (ii) relating to pooled deposit or sweep accounts of the Borrower or any other Loan Party

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to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Borrower or such other Loan Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Liens solely on any cash earnest money deposits made by the Borrower or any other Loan Party in connection with any letter of intent or purchase agreement permitted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising from precautionary Uniform Commercial Code financing statement or similar filings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto and (ii) Liens, pledges or deposits under worker's compensation, unemployment insurance or other social security legislation (other than ERISA), and other liens, pledges or deposits of a like nature;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Liens with respect to property or assets of the Borrower or any other Loan Party securing obligations in an aggregate principal amount outstanding at any time not to exceed the greater of (x) $100,000,000 and (y) 50% of LTM Adjusted EBITDA, in each case determined as of the date of incurrence; *provided*, that if such Indebtedness is secured by Liens on the Collateral, the representative of the holders of any such Indebtedness (including any Other Debt Representative) becomes party, in the event that it is not already a party, to (i) if such Indebtedness is secured by the Collateral on a *pari passu* basis (but without regard to the control of remedies) with the Obligations, the Junior Lien Intercreditor Agreement as a "Senior Representative" (as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term)), in the event that a Junior Lien Intercreditor Agreement is in effect at such time, and the First Lien Intercreditor Agreement and (ii) if such Indebtedness is secured by the Collateral on a second priority (or other junior priority) basis to the Liens on the Collateral securing the Obligations, the Junior Lien Intercreditor Agreement as a "Second Priority Representative" (as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;Liens with respect to property or assets of the Borrower securing obligations an amount not to exceed the Available Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;Liens to secure Indebtedness permitted under <u>Section 7.03(n)</u>; *provided* that the representative of the holders of each such Indebtedness becomes party to (i) if such Indebtedness is secured by the Collateral on a *pari passu* basis (but without regard to the control of remedies) with the Obligations, the Junior Lien Intercreditor Agreement as a "Senior Representative" (as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term)), in the event that a Junior Lien Intercreditor Agreement is in effect at such time, and the First Lien Intercreditor Agreement and (ii) if such Indebtedness is secured by the Collateral on a junior priority basis to the Liens securing the Obligations, the Junior Lien Intercreditor Agreement as a "Junior Lien Representative" (or similar term, in each case, as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;Liens on the Collateral securing obligations in respect of (i) Credit Agreement Refinancing Indebtedness constituting Permitted First Priority Refinancing Debt or Permitted Second Priority Refinancing Debt (and any Permitted Refinancing of any of the foregoing); *provided* that the representative of the holders of each such Indebtedness (including any Other Debt Representative) becomes party, in the event that it is not already a party, to (A) if such Indebtedness is secured by the Collateral on a *pari passu* basis (but without regard to the control of remedies) with the Obligations, the Junior Lien Intercreditor Agreement as a "Senior Representative" (as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term)), in the event that a Junior Lien

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Intercreditor Agreement is in effect at such time, and a First Lien Intercreditor Agreement and (B) if such Indebtedness is secured by the Collateral on a second priority (or other junior priority) basis to the Liens on the Collateral securing the Obligations, the Junior Lien Intercreditor Agreement as a "Second Priority Representative" (as defined in the Junior Lien Intercreditor Agreement (or such other similarly defined term)) and (ii) Incremental Term Commitments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;deposits of cash with the owner or lessor of premises leased and operated by the Borrower or any other Loan Party to secure the performance of the Borrower's or such other Loan Party's obligations under the terms of the lease for such premises;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;easements, rights of way, licenses, covenants, restrictions (including zoning restrictions), encroachments, minor imperfections in title and other similar encumbrances incurred in the ordinary course of business and that (i) individually or in the aggregate could not reasonably be expected to have a Material Adverse Effect and (ii) do not individually or in the aggregate materially detract from the value of the Project or materially and adversely impact Project operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;Liens on any property or asset securing Indebtedness permitted by <u>Section 7.03(r)</u>, but only on the property or asset that is the subject of such Indebtedness or otherwise customarily secured by such Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;Liens with respect to property or assets securing Indebtedness incurred pursuant to <u>Sections 7.03(d)</u> (subject to a subordination agreement as set forth in the definition of "Subordinated Debt") or <u>Section 7.03(f)</u> (subject to the First Lien Intercreditor Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods entered into by the Borrower in the ordinary course of its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;Liens that are disclosed in any title commitments, title policies or surveys of real property made available or delivered pursuant to this Agreement to the Administrative Agent prior to the Closing Date and that (i) individually or in the aggregate could not reasonably be expected to have a Material Adverse Effect and (ii) do not individually or in the aggregate materially detract from the value of the Project or materially and adversely impact Project operations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;&nbsp;&nbsp;&nbsp;Liens on Excluded Assets and Immaterial Real Property securing Indebtedness in an amount not to exceed $10,000,000 in the aggregate.

For purposes of determining compliance with this <u>Section 7.01</u>, (A) Liens need not be incurred solely by reference to one category of Liens permitted by this <u>Section 7.01</u> but are permitted to be incurred in part under any combination thereof and of any other available exemption and (B) in the event that such Lien (or any portion thereof) meets the criteria of one or more of the categories of Liens permitted by this <u>Section 7.01</u>, the Borrower shall, in its sole discretion, classify or reclassify such Lien (or any portion thereof) in any manner that complies with this provision.

Section 7.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Investments</u>. The Borrower shall not directly or indirectly, make or hold any Investments, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Investments in Cash Equivalents;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Investments (excluding loans and advances made in lieu of Restricted Payments pursuant to and limited by <u>Section 7.02(i)</u> below) consisting of transactions permitted under <u>Sections 7.01</u>, <u>7.03</u> (other than <u>7.03(c)</u>), <u>7.04</u> (other than <u>7.04(b)</u>), <u>7.05</u> (other than <u>7.05(b)</u> and <u>(d)</u>), and <u>7.06</u> (other than <u>7.06(c)</u> or <u>(e)(iv)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Investments existing on the Closing Date and any modification, renewal or extension thereof; *provided* that the amount of the original Investment is not increased except by the terms of such Investment as of the Closing Date or as otherwise permitted by this <u>Section 7.02</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;loans or advances to officers, directors, managers and employees of any Loan Party (or any Parent Company thereof) or any of its Subsidiaries (i) for reasonable and customary business-related travel, entertainment, relocation and analogous ordinary business purposes or (ii) in connection with such Person's purchase of Equity Interests of the Parent or any Parent Company thereof directly from such issuing entity (*provided* that the amount of such loans and advances shall be contributed to the Borrower in cash as common equity);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Investments in Hedging Agreements permitted under <u>Section 7.03</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;promissory notes and other non-cash consideration received in connection with Dispositions permitted by <u>Section 7.05</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;[reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Investments in the ordinary course of business consisting of UCC Article 3 endorsements for collection or deposit and UCC Article 4 customary trade arrangements with customers consistent with past practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;loans and advances to the Borrower and any other Parent Company of the Borrower not to exceed the amount of (after giving effect to any other loans, advances or Restricted Payments in respect thereof) Restricted Payments permitted to be made to such Parent Company by <u>Sections 7.06(e)</u> or <u>(g)</u>; *provided* that payments made pursuant to this <u>clause (i)</u> shall reduce the available baskets in <u>Sections 7.06(e)</u> or <u>(g)</u>, as applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;other Investments, which when combined with the aggregate amount of other Investments outstanding pursuant to this <u>clause (j)</u> (valued at the time of the making thereof, and without giving effect to any write downs or write offs thereof, but giving effect to any positive return in respect thereof, including dividends, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts), does not exceed at the time when any such new Investment is made, the greater of (x) $50,000,000 and (y) 25% of LTM Adjusted EBITDA (after giving effect to such Investment);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Investments to the extent that payment for such Investments is made solely with Equity Interests (other than Disqualified Equity Interests) of the Parent (or any Parent Company of the Parent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Guarantees by the Borrower of obligations that do not constitute Indebtedness entered into in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;advances of payroll payments to employees in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;earnest money deposits required in connection with any Investment;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Investments that are made in an amount equal to the amount not to exceed the Available Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;other Investments, which when combined with the aggregate amount of other Investments made pursuant to this <u>clause (r)</u> do not exceed 100% of the Available Equity Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Investments of IP Rights with other Persons entered into in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;any Investment permitted under <u>Section 7.06</u> (except with respect to <u>Section 7.06(b)</u> and <u>(g)</u>); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;any Investment in the Permitted Subsidiary permitted under <u>Section 7.13</u>.

Section 7.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Indebtedness</u>. The Borrower shall not directly or indirectly, create, incur, assume or suffer to exist any Indebtedness, except (the following, "**Permitted Indebtedness**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of any Loan Party under the Loan Documents (including, for the avoidance of doubt, Indebtedness incurred pursuant to Incremental Loans, Extended Loans or any Refinancing Series);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness outstanding on the Closing Date and listed on <u>Schedule 7.03(b)</u> and any Permitted Refinancing thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Guarantees by the Borrower in respect of Indebtedness of the Borrower otherwise permitted hereunder; *provided* that if the Indebtedness being guaranteed is subordinated to the Obligations, such Guarantee shall be subordinated to the Guarantee of the Obligations on terms at least as favorable to the Lenders as those contained in the subordination of such Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness in respect of Hedging Agreements (including Interest Rate Hedge Agreements) designed to hedge against the Borrower's exposure to interest rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred under the TLA/Revolver Credit Agreement not to exceed $500,000,000 at any time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred by the Borrower in connection with an Investment expressly permitted hereunder or any Disposition, in each case, constituting indemnification obligations or obligations in respect of purchase price (including earnouts) or other similar adjustments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness consisting of obligations of the Borrower under deferred compensation or other similar arrangements incurred by the Borrower in connection with the Transactions and Investments expressly permitted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of the Borrower, in an aggregate principal amount at any time outstanding that at the time of, and after giving effect to, the incurrence thereof, would not exceed the greater of (x) $50,000,000 and (y) 25% of LTM Adjusted EBITDA at such time, and any Permitted Refinancing thereof;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Guarantees resulting from endorsement of negotiable instruments in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness consisting of (i) the financing of insurance premiums or (ii) take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness incurred by the Borrower in respect of letters of credit, bank guarantees, bankers' acceptances or similar instruments issued or created in the ordinary course of business; *provided* that any reimbursement obligations in respect thereof are reimbursed within thirty (30) days following the incurrence thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;obligations in respect of performance, bid, appeal and surety bonds and performance and completion guarantees and similar obligations provided by the Borrower or obligations in respect of letters of credit, bank guarantees or similar instruments related thereto, in each case in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of the Borrower in respect of one or more series of senior secured loans or notes (whether issued in a public offering, under Rule 144A of the Securities Act or in another private placement or otherwise) (and including any bridge financings in lieu of such notes), junior secured or unsecured "mezzanine" loans or notes or senior unsecured or subordinated loans or notes, in each case, pursuant to an indenture, interim agreement, loan agreement, note purchase agreement or otherwise and any extensions, renewals, refinancings and replacements thereof, including in the case of any such notes, any Registered Equivalent Notes (the "**Incremental Equivalent Debt**"); *provided* that (i) such Incremental Equivalent Debt may not be incurred (or guaranteed) by a non-Loan Party or secured by assets that do not constitute Collateral, (ii) such Incremental Equivalent Debt shall not mature earlier than the Maturity Date of the Initial Term Loans; *provided*, that the foregoing requirements of this <u>clause (ii)</u> shall not apply (A) to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this <u>clause (ii)</u> and such conversion or exchange is subject only to conditions customary for similar conversions or exchange or (B) to the Inside Maturity Basket, (iii) such Incremental Equivalent Debt shall have a Weighted Average Life to Maturity not shorter than the remaining Weighted Average Life to Maturity of the Initial Term Loans (without giving effect to any prepayments of the Initial Term Loans prior to the time of incurrence of such Incremental Equivalent Debt that would otherwise shorten the Weighted Average Life to Maturity of the Initial Term Loans); *provided*, that the foregoing requirements of this <u>clause (iii)</u> shall not apply (A) to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged satisfies the requirements of this <u>clause (iii)</u> and such conversion or exchange is subject only to conditions customary for similar conversions or exchange or (B) to the Inside Maturity Basket, (iv) any mandatory prepayments of Incremental Equivalent First Lien Debt (as defined below) will be made on a *pro rata* basis or a less than *pro rata* basis (but not on a greater than *pro rata* basis except for prepayments with the proceeds of a Permitted Refinancing) with mandatory prepayments of the Term Loans and any mandatory prepayments of Incremental Equivalent Debt secured by Junior Liens or unsecured Incremental Equivalent Debt may not be made except to the extent that prepayments are offered, to the extent required under the existing Facilities, first *pro rata* to the Facilities and any Incremental Equivalent First Lien Debt (v) in the case of Incremental Equivalent Debt subject to a Parity Lien ("**Incremental Equivalent First Lien Debt**") in the form of syndicated term b loans, such Incremental Equivalent First Lien Debt shall be subject to the MFN Protection as if such Incremental Equivalent First Lien Debt were an Incremental Term Loan (it being understood that no other Incremental Equivalent Debt shall be subject to the MFN Protection), (vi) the aggregate outstanding principal amount

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of all Incremental Equivalent Debt incurred in accordance with this <u>Section 7.03(n)</u>, together with the aggregate principal amount of all Incremental Term Commitments and Incremental Term Loans shall not exceed the Incremental Availability Amount, (vii) the incurrence of any Incremental Equivalent Debt shall be in compliance with Regulation T, U and X promulgated by the FRB, (viii) the security agreements, if applicable, relating to such Indebtedness are substantially the same as the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (ix) if such Incremental Equivalent Debt is secured, the Other Debt Representative acting on behalf of the holders of such Indebtedness shall have become party to the First Lien Intercreditor Agreement and/or Junior Lien Intercreditor Agreement, as applicable, and (x) subject to clauses (ii) through (v) above, the terms applicable to such Incremental Equivalent Debt shall be determined by the Borrower and the holders of such Incremental Equivalent Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness supported by a letter of credit with respect to which the Borrower has any reimbursement obligations, so long as such reimbursement obligations constitute Indebtedness permitted pursuant to any other clause of this <u>Section 7.03</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Credit Agreement Refinancing Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;all premiums (if any), interest (including post-petition interest), fees, expenses, charges and additional or contingent interest on obligations described in <u>clauses (a)</u> through <u>(p)</u> above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;Attributable Indebtedness and other Indebtedness (including Capitalized Leases) financing the acquisition, construction, repair, replacement, lease or improvement of a fixed or capital asset incurred by the Borrower (including Indebtedness for the deferred purchase price of property or services and purchase-money obligations) in an aggregate amount not to exceed the sum of (x) the greater of (x) $20,000,000 and (y) 10% of LTM Adjusted EBITDA determined at the time of incurrence (together with any Permitted Refinancings thereof) at any time outstanding *plus* (y) the aggregate amount of such Indebtedness existing as of the Closing Date and any Permitted Refinancing of any of the foregoing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness in respect of Permitted Debt Exchange Notes incurred pursuant to a Permitted Debt Exchange in accordance with <u>Section 2.18</u> (and which does not generate any additional proceeds) and any Permitted Refinancing thereof.

For purposes of determining compliance with this <u>Section 7.03</u>, in the event that an item of Indebtedness meets the criteria of more than one of the categories of Indebtedness described in <u>clauses (a)</u> through <u>(t)</u> above, the Borrower shall, in its sole discretion, classify or later divide, classify or reclassify all or a portion of such item of Indebtedness or any portion thereof in a manner that complies with this <u>Section 7.03</u> and will only be required to include the amount and type of such Indebtedness in one or more of the above clauses.

Section 7.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Fundamental Changes</u>. The Borrower shall not merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that the Borrower may change its legal form if the Borrower determines in good faith that such action is in the best interest of the Borrower and if not materially disadvantageous to the Lenders.

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Section 7.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Dispositions</u>. The Borrower shall not directly or indirectly, make any Disposition, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of property whether now owned or hereafter acquired, in the ordinary course of business and on a commercial arms-length basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Dispositions, transactions permitted by <u>Sections 7.01</u>, <u>7.02</u> (other than <u>Section 7.02(b)</u>), <u>7.04</u> and <u>7.06</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;issuances of common Equity Interests by the Borrower to the Parent (so long as all such common Equity Interests are subject to the Liens granted under Collateral Documents in accordance with, and to the extent required by, the terms of the Collateral and Guarantee Requirement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions, liquidations or use of Cash Equivalents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of IP Rights that do not materially and adversely interfere with the business of the Borrower (or that avoid such interference by granting to the Borrower a license or other ownership rights to use such IP Rights), taken as a whole, or are no longer economical to maintain in light of their respective use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of condemned property as a result of the exercise of "eminent domain" or other similar powers to the respective Governmental Authority or agency that has condemned the same (whether by deed in lieu of condemnation or otherwise);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of assets whose Fair Market Value in aggregate for all such Dispositions under this <u>Section 7.05(g)</u>, as determined at the time of each such Disposition, does not exceed $75,000,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of property which is obsolete, worn out, damaged, surplus or not used or useful in the conduct of the business of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the unwinding of any Hedging Agreement; provided that the Borrower is in compliance with the requirements of <u>Section 6.23</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;leases or subleases of real or personal property, exchanges of real or personal property or the granting of easements, rights-of-way, access rights, permits, licenses, restrictions or the like, in each case, which do not interfere in any material respect with the ordinary course of business of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;the lapse or abandonment in the ordinary course of business of any IP Rights that are no longer used or useful, or not material, to the business of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;leases, subleases, licenses, cross-licenses or sublicenses of IP Rights, in each case in the ordinary course of business, or that will not materially interfere with the business of the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;any sale of property of assets, if the acquisition of such property or assets was financed solely with Cash Flow Available for Distribution made following the Closing Date.

*provided* that (i) any Disposition of any property pursuant to <u>Section 7.05(g)</u> shall be for no less than the Fair Market Value of such property at the time of such Disposition as determined by the Borrower in good faith and (ii) immediately after giving effect to any such Disposition the Borrower shall

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Section 7.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Restricted Payments</u>. The Borrower shall not declare or make, directly or indirectly, any Restricted Payment, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower may declare and make Restricted Payments payable solely in the Equity Interests (other than Disqualified Equity Interests not otherwise permitted by <u>Section 7.03</u>) of such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments in an amount not to exceed the Available Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Restricted Payments, the Borrower may enter into and consummate transactions expressly permitted by any provision of <u>Sections 7.02</u> (other than <u>Sections 7.02(b)</u>), <u>7.04</u> or <u>7.07</u> (other than <u>Sections 7.07(c)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;repurchases of Equity Interests in the Borrower (or any Parent Company thereof), with respect to which no cash or other consideration is paid by the Borrower, deemed to occur upon exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower may make Restricted Payments to any Parent Company of the Borrower:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;so long as (x) the Conversion Date has occurred and (y) no Event of Default has occurred and is continuing, with respect to any taxable period or portion thereof during which the Borrower is a passthrough entity (including a partnership or disregarded entity) for U.S. federal income tax purposes, payments or distributions by the Borrower to any member or partner of the Borrower on or prior to each estimated tax payment date as well as each other applicable due date, in an aggregate amount such that each direct or indirect member or partner of the Borrower receives, in the aggregate for such period, payments or distributions made from the Distribution Reserve Account not to exceed such member or partner's U.S. federal, state, and/or local income taxes (as applicable) attributable to its direct or indirect ownership of the Borrower with respect to such taxable period (assuming that such member or partner is subject to tax at the highest combined marginal U.S. federal, state, and local income tax rates (including any tax rate imposed on "net investment income" by Section 1411 of the Code) applicable to an individual resident or, if higher, a corporation, doing business in New York City (for the avoidance of doubt, regardless of the actual rate applicable to such member or partner), determined by (A) taking into account (1) any U.S. federal, state, and/or local (as applicable) losses allocable to such member or partner attributable to its direct or indirect ownership of the Borrower and its Subsidiaries for prior taxable periods to the extent such loss is of a character that would allow such loss to be available to reduce taxes in the current taxable period (taking into account any limitations on the utilization of such loss to reduce such taxes and to the extent such loss had not already been taken into account for purposes of calculating Permitted Tax Distributions hereunder), (2) the character (e.g., long-term or short-term capital gain or ordinary or exempt) of the applicable income, (3) any adjustment to such member's or partner's taxable income attributable to its direct or indirect ownership of the Borrower as a result of any tax examination, audit, or adjustment with respect to

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any period or portion thereof, but (B) not taking into account (1) the deductibility of state and local income taxes for U.S. federal income Tax purposes, (2) the application of Section 199A of the Code, and (3) any basis adjustments under Sections 734 or 743 of the Code attributable to any direct or indirect members or partners of the Borrower) (any such payments or distributions permitted under <u>clause (ii)</u>, above, or this <u>clause (iii)</u>, a "**Permitted Tax Distribution**"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the proceeds of which shall be used by any Parent Company of the Borrower to pay fees and expenses (other than to Affiliates) related to any unsuccessful equity or debt offering by such parent (or any Parent Company thereof) that is directly attributable to the operations of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower may pay cash in lieu of fractional Equity Interests in connection with any dividend, split or combination thereof or any Investment permitted under <u>Section 7.02</u> ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;other Restricted Payments not to exceed 100% of the Available Equity Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments consisting of reimbursements of Drawstop Equity Contributions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments from the Permitted Subsidiary to the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;the Transactions and Restricted Payments made in connection with the Transactions.

Notwithstanding the foregoing, (x) at the Closing Date, the Borrower shall be entitled to make a Restricted Payment to the Parent (and the Parent shall be entitled to make such Restricted Payment to the Sponsors) up to an amount of $859,023,126.30, subject to no further conditions (other than those conditions set in <u>Section 4.01</u>) (the "**Closing Date Distribution**") and (y) on or within 30 days of the Conversion Date, the Borrower shall be entitled to make to the Parent (and the Parent shall be entitled to make such Restricted Payment to the Sponsors) the True-Up Distribution .

Section 7.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Transactions with Affiliates</u>. The Borrower shall not, directly or indirectly, enter into any transaction of any kind with any Affiliate, other than (a) on terms substantially as favorable to the Borrower as would be obtainable by the Borrower or at the time in a comparable arm's-length transaction with a Person other than an Affiliate, (b) the Transactions and the payment of Transaction Expenses as part of or in connection with the Transactions, (c) Restricted Payments permitted under <u>Section 7.06</u>, and Investments permitted under <u>Section 7.02</u>, (d) employment and severance arrangements between the Borrower and its officers and employees in the ordinary course of business and transactions pursuant to stock option plans and employee benefit plans and arrangements in the ordinary course of business, (e) the payment of customary fees and reasonable out of pocket costs to, and indemnities provided on behalf of, directors, managers, officers, employees and consultants of the Borrower (or any Parent Company of the Borrower) in the ordinary course of business to the extent attributable to the ownership or operation of the Borrower, (f) transactions pursuant to agreements in existence on the Closing Date and set forth on <u>Schedule 7.07</u> or any amendment thereto to the extent such an amendment is not adverse to the Lenders in any material respect, (g) the issuance or transfer of Equity Interests (other than Disqualified Equity Interests) of the Borrower to any Sponsor or to any former, current or future director, manager, officer, employee or consultant (or any Affiliate of any of the foregoing) of the Borrower or any Parent Company thereof and (h) transactions with the Permitted Subsidiary.

Section 7.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Burdensome Agreements</u>. The Borrower shall not enter into or permit to exist any Contractual Obligation (other than this Agreement, the other Loan Documents, any agreements or documents governing, evidencing and/or securing Credit Agreement Refinancing Indebtedness,

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Incremental Term Commitments, Incremental Equivalent Debt, any Pari Lien Debt or Indebtedness secured by a Junior Lien, each as permitted under this Agreement and any requirements of Law that are memorialized as Contractual Obligations) that prohibits any Loan Party to create, incur, assume or suffer to exist Liens on the Collateral of such Person for the benefit of the Lenders with respect to the Facilities and the Obligations or under the Loan Documents; *provided* that the foregoing shall not apply to Contractual Obligations which (i)(x) exist on the Closing Date and (to the extent not otherwise permitted by this <u>Section 7.08</u>) are listed on <u>Schedule 7.08</u> hereto and (y) to the extent Contractual Obligations permitted by <u>clause (i)(x)</u> are set forth in an agreement evidencing Indebtedness, are set forth in any agreement evidencing any permitted modification, replacement, renewal, extension or refinancing of such Indebtedness so long as such modification, replacement, renewal, extension or refinancing does not expand the scope of such Contractual Obligation, (ii) are binding on a Person at the time such Person merges with or into the Borrower so long as such Contractual Obligations were not entered into solely in contemplation of such Person merging with or into the Borrower, (iii) arise in connection with any Disposition permitted by <u>Section 7.04</u> or <u>7.05</u> and relate solely to the assets or Person subject to such Disposition, (iv) are customary restrictions on asset sale or similar agreements otherwise permitted hereby so long as such restrictions relate to the assets subject thereto, (v) comprise restrictions imposed by any agreement relating to secured Indebtedness permitted pursuant to <u>Section 7.03(i)</u> and to the extent that such restrictions apply only to the property or assets securing such Indebtedness or to the Person incurring or guaranteeing such Indebtedness, (vi) are customary provisions restricting assignment of any agreement entered into in the ordinary course of business, (vii) are restrictions on cash or other deposits imposed by customers under contracts entered into in the ordinary course of business, (viii) customary restrictions on Liens in Indebtedness permitted hereunder so long as such Indebtedness permits the first-priority Liens of the Secured Parties on the Collateral (subject to Permitted Liens and the Collateral and Guarantee Requirement) or (ix) arise in connection with cash or other deposits permitted under <u>Sections 7.01</u> and <u>7.02</u> and limited to such cash or deposit.

Section 7.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Financial Covenant</u>. The Borrower will not permit the Debt Service Coverage Ratio to be less than 1.10:1.00 as of the last day of any fiscal quarter (commencing with the first full fiscal quarter ended after the Conversion Date).

Section 7.10&nbsp;&nbsp;&nbsp;&nbsp;<u>[Reserved]</u>.

Section 7.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Change in Nature of Business</u>. The Parent shall not directly operate any material business; *provided* that, for the avoidance of doubt, the following (and activities incidental thereto) shall not constitute the operation of a business and shall in all cases be permitted to the extent not otherwise restricted under the terms of this Agreement: (i) its direct or indirect ownership of Equity Interests to the extent not otherwise prohibited by the Loan Documents, (ii) the maintenance of its legal existence (including the ability to incur fees, costs and expenses relating to such maintenance and performance of activities relating to its officers, directors, managers and employees and those of its Parent Company), (iii) the entering into, and performance of its obligations with respect to, the Loan Documents and any other Indebtedness, the consummation of the Transactions and the consummation of any other transaction otherwise permitted by this <u>Article VII</u>, (iv) participating in tax, accounting and other administrative matters as a member of the consolidated group, including compliance with applicable law and legal, tax and accounting matters related thereto and activities relating to its officers, directors, managers and employees, (v) holding any cash and Cash Equivalents, (vi) holding any other property received by it as a distribution from the Borrower and making further distributions with such property, (vii) providing indemnification to officers, managers and directors, (viii) holding director and shareholder meetings, preparing organizational records and other organizational activities required to maintain its separate organizational structure or to comply with applicable law, (ix) filing tax reports and paying taxes and

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other customary obligations related thereto in the ordinary course (and contesting any taxes), (x) entering into and performance of obligations with respect to contracts and other arrangements in connection with the activities contemplated by this <u>Section 7.11</u>, (xi) the preparation of reports to Governmental Authorities and to its shareholders, (xii) the performance of obligations under and compliance with its organizational documents, any demands or requests from or requirements of a Governmental Authority or any applicable law, ordinance, regulation, rule, order, judgment, decree or permit, including as a result of or in connection with the activities of its Subsidiaries; and (xiii) any activities incidental to the foregoing or customary for passive holding companies. The Parent shall not incur any Indebtedness (other than Indebtedness under the Loan Documents) (*provided* that guarantees of Indebtedness of the Borrower permitted to be incurred by <u>Section 7.03</u> shall not be restricted), and the Parent shall not grant or permit to exist any Liens on Equity Interests of the Borrower other than Liens for the benefit of any Secured Parties, the representatives to any First Lien Intercreditor Agreement and any Junior Lien Intercreditor Agreement and the creditors represented by such representatives and as permitted by the penultimate paragraph of <u>Section 7.01</u>.

Section 7.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Bank Accounts</u>. The Borrower will not establish or maintain any bank accounts other than the Project Accounts, the Local Accounts, the ROW Accounts and the Permitted Subsidiary Account; *provided* that, no such Local Accounts, ROW Accounts or the Permitted Subsidiary Account shall contain any funds unless subject to a Control Agreement.

Section 7.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsidiaries</u>. The Borrower will not form, own or have any Subsidiaries or otherwise own beneficially an ownership interest in any Person other than the Permitted Subsidiary; *provided* that as long as the Permitted Subsidiary remain a Subsidiary of the Borrower, it shall (i) be 100% owned by the Borrower, (ii) not incur Indebtedness for borrowed money, (iii) not guarantee any obligations of any other Person, other than pursuant to the Loan Documents, (iv) not grant a Lien over any of its assets, other than pursuant to the Loan Documents, (v) not own any assets that are material to the business of the Borrower and (v) not conduct activities that would reasonably be expected to have a materially adverse effect on the Project or engage in any material lines of business which are substantially different from those lines of business conducted by the Permitted Subsidiary on the Closing Date; *provided further* that (1) the Permitted Subsidiary may maintain the Permitted Subsidiary Account or any replacement account thereof (provided such account is subject to the same restrictions as the Permitted Subsidiary Account), (2) the Permitted Subsidiary may receive Investments from any Loan Party to make payments under supply contracts or other contracts related to the development of the Project, (3) the Borrower and the Permitted Subsidiary may engage in any transaction with one another in connection with the development of the Project, including transfers or Dispositions of property, as long as such transaction would not result in a Material Adverse Effect and (4) contracts (including Material Project Documents other than the O&M Agreement, the Blackfin Capacity Lease or any TSA) relating to equipment procurement, and any equipment or related assets, may be contributed or distributed into or by Permitted Subsidiary to or from the Borrower.

Section 7.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u>. None of the Loan Parties shall use any part of the proceeds of the Loans, directly or indirectly, (a) in violation of any applicable Anti-Corruption Laws or Anti-Money Laundering Laws; (b) to fund, finance or facilitate any activities, dealings or business, with any Sanctioned Person or Sanctioned Country; or (c) in any manner that would constitute or give rise to a violation of Sanctions by any Person.

Section 7.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Modification of Material Project Documents; Modification of TSAs</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;To the extent within the control of the Borrower, the Borrower shall not consent to, without the prior consent of the Required Lenders (such consent not to be unreasonably withheld, delayed or conditioned), any assignment of, amendment to, modification of, or waiver of timely compliance with, any terms or conditions of the CP2 TSA, unless such consent, amendment, modification, waiver or assignment could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall not consent to, or permit, without the prior consent of the Required Lenders (such consent not to be unreasonably withheld, delayed or conditioned), any assignment of, amendment to, modification of, or waiver of timely compliance with, any terms or conditions of any Material Project Document, unless such consent, amendment, modification, waiver or assignment could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; <u>provided</u>, that the foregoing shall not apply to <u>Section 7.13(4)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall not fail to enforce, or fail to pursue any remedies available to it with respect to any breach of, any material covenant under any Material Project Document, except where such failure could not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, the Borrower shall not terminate (except as a result of the expiration thereof in accordance with its terms or as a result of performance in full of the parties thereto) the Blackfin Capacity Lease unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;such termination is consented to by the Required Lenders (such approval not to be unreasonably withheld, delayed or conditioned); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Replacement Conditions are satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Permitted Subsidiary shall not consent to, or permit any assignment of, amendment to, modification of, or waiver of timely compliance with, any terms or conditions of any Material Project Document except (i) as permitted under Section 7.13(4), (ii) as consented to by the Required Lenders (such consent not to be unreasonably withheld, delayed or conditioned) or (iii) such consent, amendment, modification, waiver or assignment could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

Section 7.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Material Project Documents; Additional TSAs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower will not enter into any Additional Material Project Document, unless such entrance into such Additional Material Project Document could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower will not enter into any Additional TSA, except if after giving effect to such Additional TSA (i) no Default or Event of Default shall have resulted, or could reasonably be expected to result, from such Additional TSA; (ii) the service provided under the Additional TSA will not cause a material breach or default or otherwise violate in any material respect any other TSA; and (iii) the firm capacity proposed to be contracted in such Additional TSA is not otherwise contracted as firm capacity pursuant to another TSA.

Section 7.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Rate Hedges</u>. The Borrower will not, and will not agree to, enter into any Hedging Agreement other than (a) any Interest Rate Hedge Agreement in accordance with <u>Section 6.23</u> 

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and (b) subject to <u>Section 6.23</u>, non-speculative Hedging Agreements protecting against the Borrower's interest exposure under its Permitted Indebtedness.

Section 7.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Accounting Changes</u>. The Borrower will not make any material change in its accounting or reporting policies, except as required by applicable Law or GAAP.

Section 7.19&nbsp;&nbsp;&nbsp;&nbsp;<u>No Settlement, Etc.</u> The Company will not agree, authorize or otherwise consent to any proposed settlement, resolution or compromise of any litigation, arbitration or other dispute with any of its Affiliates, unless such action could not reasonably be expected to have a Material Adverse Effect.

Section 7.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments to Constitutional Documents</u>. The Company will not amend or otherwise modify its constitutional documents in a manner that is materially adverse to the Lenders (in their capacities as such), as determined by the Borrower in good faith.

**ARTICLE VIII <br>EVENTS OF DEFAULT AND REMEDIES**

Section 8.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Events of Default</u>. Any of the following from and after the Closing Date shall constitute an event of default (an "**Event of Default**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Non-Payment.* The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan, or (ii) within five (5) Business Days after the same becomes due, any interest on any Loan or any other amount payable hereunder or with respect to any other Loan Document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Specific Covenants.* The Borrower or, in the case of <u>Section 7.11</u> or <u>Section 7.13</u>, the Parent fails to perform or observe any term, covenant or agreement contained in any of <u>Section 6.03(a)</u> or <u>6.05(a)</u> or <u>Article VII</u>; *provided* that a Default as a result of a breach of <u>Section 7.09</u> is subject to cure pursuant to <u>Section 8.05</u> and such Default will not become an Event of Default for purposes of exercising remedies under <u>Section 8.02</u> until such cure is no longer available with respect to such Default; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Other Defaults.* Any Loan Party fails to perform or observe any other covenant or agreement (not specified in <u>Section 8.01(a)</u> or <u>(b)</u> above) contained in any Loan Document on its part to be performed or observed and such failure continues for thirty (30) days after written notice thereof by the Administrative Agent to the Borrower; *provided* that, (i) if such failure does not involve the payment of money to any Person and is not susceptible to cure within such thirty (30) days or (ii) if such Person is proceeding with diligence and good faith to cure such Default and such Default is susceptible to cure and (iii) in the case of each of clauses (i) and (ii), the existence of such failure has not resulted in a Material Adverse Effect, such thirty (30)-day period shall be extended as may be necessary to cure such failure, such extended period not to exceed ninety (90) days in the aggregate (inclusive of the original thirty (30)-day period); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Representations and Warranties.* Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of the Borrower or any other Loan Party herein, in any other Loan Document, or in any certificate required to be delivered in connection herewith or therewith shall be incorrect in any material respect when made or deemed made *provided* that, if (i) such Loan Party was not aware that such representation or warranty was incorrect at the time such representation or warranty was made, (ii) the fact, event or circumstance resulting in such incorrect representation or warranty is capable of being cured, corrected or otherwise remedied, and (iii) such fact, event or circumstance resulting in such incorrect representation or warranty shall have been cured, corrected or

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otherwise remedied within thirty (30) days (or if such incorrect representation or warranty is not susceptible to cure within thirty (30) days, and such Loan Party is proceeding with diligence and in good faith to cure such default and such default is susceptible to cure, such thirty (30)-day cure period shall be extended as may be necessary to cure such incorrect representation or warranty, such extended period not to exceed ninety (90) days in the aggregate (inclusive of the original thirty (30)-day period)) from the date a Responsible Officer of any Loan Party obtains knowledge thereof, such false or incorrect representation or warranty shall not constitute a Default or an Event of Default for purposes of the Loan Documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Cross-Default; Cross-Acceleration*. The Borrower (i) fails to make any payment beyond the applicable grace period with respect thereto, if any (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness (other than Indebtedness for borrowed money hereunder) having an aggregate principal amount of not less than the Threshold Amount, or (ii) fails to observe or perform any other agreement or condition relating to any such Indebtedness, or any other event occurs, and, in each case, continues beyond the applicable grace period with respect thereto, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Insolvency Proceedings, Etc.* Any Loan Party or the Committed Shipper institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for sixty (60) days, or an order for relief is entered in any such proceeding; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;*Inability to Pay Debts; Attachment.* (i) Any Loan Party or the Committed Shipper admits in writing its inability to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of the Loan Parties or the Committed Shipper, in each case taken as a whole, and is not released, vacated or fully bonded within sixty (60) days after its issue or levy; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;*Judgments.* There is entered against any Loan Party a final judgment or order for the payment of money in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer has been notified of such judgment or order and has not denied coverage) and such judgment or order shall not have been satisfied, vacated, discharged, stayed or bonded pending an appeal for a period of sixty (60) consecutive days; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;*Invalidity of Loan Documents.* Any material provision of any Loan Document, at any time after its execution and delivery and for any reason, other than as a result of acts or omissions by the Administrative Agent or Collateral Agent or the satisfaction in full of all the Obligations, ceases to be in full force and effect or becomes invalid, illegal or unenforceable; or any Loan Party contests in writing the validity or enforceability of any material provision of any Loan Document or the validity or priority of a Lien as required by the Collateral Documents on any material portion of the Collateral; or any Loan

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Party denies in writing that it has any or further liability or obligation under any Loan Document (other than as a result of Payment in Full), or purports in writing to revoke or rescind any Loan Document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;*Change of Control.* There occurs any Change of Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;*Collateral Documents.* Any Collateral Document after delivery thereof pursuant to <u>Section 4.01</u> or <u>Sections 6.11</u> or <u>6.12</u> shall for any reason (other than pursuant to the terms thereof including as a result of a transaction not prohibited under this Agreement) cease to create a valid and perfected Lien, with the priority required by the Collateral Documents and the Intercreditor Agreements on and security interest in any material portion of the Collateral purported to be covered thereby, subject to Permitted Liens, except to the extent that any such perfection or priority is not required pursuant to the Collateral and Guarantee Requirement or any loss thereof results from the failure of the Administrative Agent or the Collateral Agent to maintain possession of certificates actually delivered to it representing securities pledged under the Collateral Documents or to file Uniform Commercial Code continuation statements and ; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;*Event of Abandonment*. An Event of Abandonment occurs; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;*Conversion Date*. (i) The Conversion Date does not occur on or prior to the Date Certain or (ii) the Committed Shipper does not elect ISD with respect to the first two phases of the Project under the CP2 TSA on or prior to the Date Certain; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;*Total Loss*. A Total Loss of the Project occurs; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;*Material Project Documents; TSAs*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Any breach occurs of the CP2 TSA by any party thereto other than a Loan Party resulting in a default thereunder that is reasonably expected to result in a Material Adverse Effect or termination or alteration, amendment or modification to the CP2 TSA that is reasonably expected to result in a Material Adverse Effect and such default is not remedied or the CP2 TSA is not replaced within the grace period specified therein (or, in the event that no grace period is specified in the CP2 TSA, such breach shall remain unremedied for ninety (90) days; *provided* that, there shall be no Event of Default under this <u>clause (i)</u> if the Borrower executes and delivers a replacement TSA within one hundred and eighty (180) days after such default; *provided*, further, that this <u>clause (i)</u> shall be subject to the Replacement Conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Any breach occurs of any Material Project Document by any Loan Party resulting in a default thereunder that is reasonably expected to result in a Material Adverse Effect and such default is not remedied within the grace period specified therein; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Any breach occurs of any Material Project Document by the Material Project Counterparty party thereto resulting in a default thereunder that is reasonably expected to result in a Material Adverse Effect or termination or alteration, amendment or modification to such Material Project Document that is reasonably expected to result in a Material Adverse Effect and such default is not remedied or such Material Project Document is not replaced within the grace period specified therein (or, in the event that no grace period is specified in such Material Project Document, such breach shall remain unremedied for ninety (90) days); *provided* that, there shall be no Event of Default under this <u>clause (iii)</u> if the Borrower executes and delivers a replacement Material Project Document within one hundred and eighty (180) days after such default; *provided*, further, that this <u>clause (iii)</u> shall be subject to the Replacement Conditions; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;*Permits*. Any Permit listed on <u>Schedule 4.01(p)</u> (i) has not been obtained as and when required pursuant to <u>Schedule 4.01(p)</u> and the failure to obtain that Permit by that date (A) results in a Material Adverse Effect or (B) the Project is not reasonably expected to achieve Conversion by the Date Certain, or (ii) having been obtained, ceases to be binding or after issuance thereof, is repudiated, revoked, terminated, modified, cancelled, suspended or becomes illegal or invalid, in each case, so as would reasonably be expected to have a Material Adverse Effect, by the issuing agency or other Governmental Authority having jurisdiction and such circumstance continues unremedied for forty-five (45) days from the date on which a Responsible Officer obtains knowledge thereof or receives notice thereof from the Administrative Agent; *provided*, that the foregoing shall not constitute an Event of Default under this sub-<u>clause (p)</u> if the Borrower undertakes, within forty-five (45) days after a Responsible Officer obtains knowledge thereof or receives notice thereof from the Administrative Agent, commercially reasonable efforts to obtain a replacement Permit, so long as such circumstance has not resulted, and could not reasonably be expected to result, in an inability of the Borrower to pay the Obligations when due or, if such circumstance arises prior to the Conversion Date, a delay in the Conversion Date beyond the Date Certain; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;*ERISA.* (i) An ERISA Event occurs which has resulted or could reasonably be expected to result in a Material Adverse Effect, or (ii) a Loan Party or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan and a Material Adverse Effect could reasonably be expected to result.

Section 8.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies Upon Event of Default</u>. If any Event of Default occurs and is continuing, the Administrative Agent may and, at the request of the Required Lenders, shall take any or all of the following actions (subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement)):

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;exercise on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Loan Documents or applicable Law;

*provided* that upon the occurrence of an Event of Default set forth in <u>Section 8.02(f)</u> or <u>(g)</u>, the obligation of each Lender to make Loans shall automatically terminate, the unpaid principal amount of all outstanding Loans and other amounts as aforesaid shall automatically become due and payable, in each case without further act of the Administrative Agent or any Lender.

Notwithstanding anything herein or in any other Loan Document to the contrary, neither the Administrative Agent nor the Required Lenders may take any of the actions described in this <u>Section 8.02</u> with respect to any Default or Event of Default if such Default or Event of Default resulted from any action or the occurrence of any event reported publicly or otherwise disclosed to the Lenders more than two (2) years prior to the date any actions described in this <u>Section 8.02</u> are taken.

Notwithstanding anything herein or in any other Loan Document to the contrary, with respect to any Default or Event of Default resulting from the failure of the Borrower to comply with the covenant

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set forth in <u>Section 7.09</u> for which the Sponsors are entitled to issue a Designated Equity Contribution, neither any Agent nor any Lender may exercise the foregoing remedies until the date that is the earlier of (i) 10 Business Days after the date on which the Compliance Certificate is required to be delivered hereunder with respect to the period commencing after the beginning of the last fiscal quarter included in such Test Period pursuant to <u>Section 6.02(a)</u> and (ii) the date the Administrative Agent receives notice that there will not be an issuance of a Specified Equity Contribution for such fiscal quarter.

Section 8.03&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].

Section 8.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Application of Funds</u>. After the exercise of remedies provided for in <u>Section 8.02</u> (or after the Loans have automatically become immediately due and payable as set forth in the proviso to <u>Section 8.02</u>), any amounts or other distributions received on account of the Obligations, including any proceeds of Collateral, shall be applied by the Administrative Agent and the Collateral Agent (as applicable) in the following order (to the fullest extent permitted by mandatory provisions of applicable Law), in each case, subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement):

*First*, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (other than principal and interest, but including Attorney Costs payable under <u>Section 10.04</u> and amounts payable under <u>Article III</u>) payable to the Administrative Agent or the Collateral Agent in its capacity as such;

*Second*, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal and interest) payable to the Lenders (including Attorney Costs payable under <u>Section 10.04</u> and amounts payable under <u>Article III</u>), ratably among them in proportion to the amounts described in this clause Second payable to them;

*Third*, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans, and any fees, premiums or scheduled periodic payments due under Secured Hedging Agreements, ratably among the Secured Parties in proportion to the respective amounts described in this clause Third payable to them;

*Fourth*, to payment of that portion of the Obligations constituting unpaid principal of the Loans, and any breakage, termination or other payments under Secured Hedging Agreements, ratably among the Secured Parties in proportion to the respective amounts described in this clause Fourth held by them;

*Fifth*, to the payment of all other Obligations that are due and payable to the Administrative Agent and the other Secured Parties on such date, ratably based upon the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other Secured Parties on such date; and

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

Notwithstanding the foregoing, no amounts received from any Loan Party shall be applied to any Excluded Swap Obligations of such Loan Party.

Section 8.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Borrower's Right to Cure</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained in <u>Section 8.01</u> or <u>8.02</u>, if the Borrower determines that an Event of Default under the covenant set forth in <u>Section 7.09</u> has occurred or may occur, during the period commencing after the beginning of the last fiscal quarter included in such Test Period and ending ten (10) Business Days after the date on which the Compliance Certificate is required to be delivered hereunder with respect to such fiscal quarter pursuant to <u>Section 6.02(a)</u>, the Sponsors may make a Specified Equity Contribution to the Borrower (or any Parent Company thereof, to the extent contributed to the Borrower) (a "**Designated Equity Contribution**"), and the amount of the net cash proceeds thereof shall, at the request of the Borrower, be deemed to increase the amount set forth in clause (a) of the definition of "Debt Service Coverage Ratio" with respect to such applicable quarter for the purpose of determining compliance with the covenant set forth in <u>Section 7.09</u> at the end of such quarter and applicable subsequent periods; *provided* that such net proceeds (i) are actually received by the Borrower as cash common equity (including through capital contribution of such net cash proceeds to the Borrower) during the period commencing after the beginning of the last fiscal quarter included in such Test Period by the Borrower and ending ten (10) Business Days after the date on which Compliance Certificate is required to be delivered with respect to such fiscal quarter hereunder and (ii) are Not Otherwise Applied. The parties hereby acknowledge that this <u>Section 8.05(a)</u> may not be relied on for purposes of calculating any financial ratios other than as applicable to <u>Section 7.09</u> and shall not result in any adjustment to any baskets or other amounts other than the amount set forth in clause (a) of the definition of "Debt Service Coverage Ratio" for the purpose of <u>Section 7.09</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) In each period of four consecutive fiscal quarters, there shall be at least two fiscal quarters in which no Designated Equity Contribution is made, (ii) no more than five Designated Equity Contributions may be made in the aggregate during the term of this Agreement, (iii) the amount of any Designated Equity Contribution shall be no more than the amount required to cause the Borrower to be in *pro forma* compliance with the Financial Covenant for any applicable period and (iv) there shall be no *pro forma* reduction in Indebtedness with the proceeds of any Designated Equity Contribution for determining compliance with the Financial Covenant for the fiscal quarter with respect to which such Designated Equity Contribution was made; *provided* that, to the extent such net cash proceeds are actually applied to prepay Indebtedness, such reduction may be credited in any subsequent fiscal quarter.

**ARTICLE IX <br>ADMINISTRATIVE AGENT AND OTHER AGENTS**

Section 9.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Appointment and Authorization of Agents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender (in its capacities as a Lender and on behalf of itself and its Affiliates as potential counterparts to Secured Hedging Agreements) hereby irrevocably appoints, designates and authorizes each of the Administrative Agent and the Collateral Agent to take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. Without limiting the generality of the foregoing, the Lenders hereby expressly authorize the Administrative Agent and the Collateral Agent to execute any and all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto, as contemplated by and in accordance with the provisions of this Agreement and the Collateral Documents and acknowledge and agree that any such action by any Agent shall bind the Lenders. Notwithstanding any provision to the contrary contained elsewhere herein or in any other Loan Document, neither the Administrative Agent nor the Collateral Agent shall have any duties or responsibilities, except those expressly set forth herein, nor shall the Administrative Agent or the Collateral Agent have or be deemed to have any fiduciary relationship with any Lender or Participant, and

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no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent or the Collateral Agent. Without limiting the generality of the foregoing sentence, the use of the term "agent" herein and in the other Loan Documents with reference to any Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender (in its capacities as a Lender and on behalf of itself and its Affiliates as potential counterparts to Secured Hedging Agreements) hereby (i) acknowledges that it has received a copy of the Intercreditor Agreements, (ii) agrees that it will be bound by and will take no actions contrary to the provisions of the Intercreditor Agreements to the extent then in effect, and (iii) authorizes and instructs the Collateral Agent to enter into each Intercreditor Agreement as Collateral Agent and on behalf of such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in <u>Sections 9.09</u> and <u>9.11</u>, the provisions of this <u>Article IX</u> are solely for the benefit of the Administrative Agent, the Collateral Agent and the Secured Parties, and neither the Borrower nor any other Loan Party shall have rights as a third-party beneficiary of any of such provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender hereby (i) acknowledges that it has received a copy of the First Lien Intercreditor Agreement, (ii) agrees that it will be bound by and will take no actions contrary to the provisions of the First Lien Intercreditor Agreement and/or subordination agreement pursuant to, or contemplated by, the terms of this Agreement (including with respect to Indebtedness permitted hereunder with respect thereto and, in each case, defined terms referenced therein) to the extent then in effect, and (iii) authorizes and instructs the Collateral Agent to enter into the First Lien Intercreditor Agreement, amendments or other modifications to the First Lien Intercreditor Agreement and/or subordination agreement pursuant to, or contemplated by, the terms of this Agreement (including with respect to Indebtedness permitted hereunder with respect thereto and, in each case, defined terms referenced therein) as Collateral Agent and on behalf of such Lender.

Section 9.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Delegation of Duties</u>. Each of the Administrative Agent and the Collateral Agent may execute any of its respective duties under this Agreement or any other Loan Document (including for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents or of exercising any rights and remedies thereunder) by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts

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concerning all matters pertaining to such duties. The Administrative Agent, the Collateral Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Agent-Related Persons. The exculpatory provisions of this <u>Article IX</u> shall apply to any such sub-agent and to the Agent-Related Persons of the Administrative Agent, the Collateral Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the Facilities as well as activities as Administrative Agent or Collateral Agent. The Administrative Agent and the Collateral Agent shall not be responsible for the negligence or misconduct of any agent or sub-agent or attorney-in-fact that it selects in the absence of bad faith, gross negligence or willful misconduct (as determined in the final non-appealable judgment of a court of competent jurisdiction).

Section 9.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Liability of Agents</u>. No Agent-Related Person shall (a) be liable for any action taken or omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby (except for its own bad faith, gross negligence or willful misconduct, as determined by the final non-appealable judgment of a court of competent jurisdiction, in connection with its duties expressly set forth herein), (b) except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity, (c) be responsible for or have any duty to ascertain or inquire into the satisfaction of any condition set forth in <u>Article IV</u> or elsewhere herein, other than that the Administrative Agent shall confirm receipt of items expressly required to be delivered to the Administrative Agent or (d) be responsible in any manner to any Lender or Participant for any recital, statement, representation or warranty made by any Loan Party or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent or the Collateral Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, the existence, value or collectability of the Collateral, any failure to monitor or maintain any part of the Collateral, any loss or diminution in the value of the Collateral, or the perfection or priority of any Lien or security interest created or purported to be created under the Collateral Documents, or for any failure of any Loan Party or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Lender or Participant to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Loan Party or any Affiliate thereof. Notwithstanding the foregoing, neither the Administrative Agent nor the Collateral Agent shall have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent or Collateral Agent (as applicable) is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents); *provided* that the Administrative Agent or Collateral Agent (as applicable) shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent or Collateral Agent (as applicable) to liability or that is contrary to any Loan Document or applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law.

Section 9.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Reliance by Agents</u>. Each Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, communication, signature, resolution, representation, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message, electronic mail

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message, statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons, and upon advice and statements of legal counsel (including counsel to any Loan Party), independent accountants and other experts selected by such Agent. Each Agent shall be fully justified in failing or refusing to take any action under any Loan Document unless it shall first receive such advice, direction or concurrence of the Required Lenders as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Required Lenders (or such greater number of Lenders as may be expressly required hereby in any instance) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.

Section 9.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Default</u>. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default and stating that such notice is a "notice of default." The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to any Event of Default as may be directed by the Required Lenders in accordance with <u>Article VIII</u>; *provided* that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default as it shall deem advisable or in the best interest of the Lenders.

Section 9.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Credit Decision; Disclosure of Information by Agents</u>. Each Lender acknowledges that no Agent-Related Person has made any representation or warranty to it, and that no act by any Agent hereafter taken, including any consent to and acceptance of any assignment or review of the affairs of any Loan Party or any Affiliate thereof, shall be deemed to constitute any representation or warranty by any Agent-Related Person to any Lender as to any matter, including whether Agent-Related Persons have disclosed material information in their possession. Each Lender represents to each Agent that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of, and investigation into, the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties, and all applicable bank or other regulatory Laws relating to the transactions contemplated hereby, and made its own decision to enter into this Agreement and to extend credit to the Borrower hereunder. Each Lender also represents that it will, independently and without reliance upon any Agent-Related Person and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties. Except for notices, reports and other documents expressly required to be furnished to the Lenders by any Agent herein, such Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any of the Loan Parties or any of their Affiliates which may come into the possession of any Agent-Related Person.

Section 9.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification of Agents</u>. Whether or not the transactions contemplated hereby are consummated, the Lenders shall indemnify upon demand each Agent-Related Person (to the extent

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not reimbursed by or on behalf of any Loan Party and without limiting the obligation of any Loan Party to do so), *pro rata*, and hold harmless each Agent-Related Person from and against any and all Indemnified Liabilities incurred by it; *provided* that no Lender shall be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities resulting from such Agent-Related Person's own gross negligence or willful misconduct, as determined by the final non-appealable judgment of a court of competent jurisdiction; *provided* that no action taken or not taken in accordance with the directions of the Required Lenders (or such other number or percentage of the Lenders as shall be required by the Loan Documents) shall be deemed to constitute gross negligence or willful misconduct for purposes of this <u>Section 9.07</u>. In the case of any investigation, litigation or proceeding giving rise to any Indemnified Liabilities, this <u>Section 9.07</u> applies whether any such investigation, litigation or proceeding is brought by any Lender or any other Person. Without limitation of the foregoing, each Lender shall reimburse each of the Administrative Agent and the Collateral Agent upon demand for its ratable share of any costs or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent or the Collateral Agent, as the case may be, in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, any other Loan Document, or any document contemplated by or referred to herein, to the extent that the Administrative Agent or the Collateral Agent, as the case may be, is not reimbursed for such expenses by or on behalf of the Loan Parties and without limiting their obligation to do so. The undertaking in this <u>Section 9.07</u> shall survive termination of the Aggregate Commitments, the payment of all other Obligations and the resignation or removal of the Administrative Agent or the Collateral Agent, as the case may be.

Section 9.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Agents in Their Individual Capacities</u>. Each Agent and its Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire Equity Interests in and generally engage in any kind of banking, trust, financial advisory, underwriting or other business with the Borrower and its Affiliates as though such Agent were not the Administrative Agent or Collateral Agent (as applicable) hereunder and without notice to or consent of the Lenders. The Lenders acknowledge that, pursuant to such activities, each Agent or its Affiliates may receive information regarding the Borrower or its Affiliates (including information that may be subject to confidentiality obligations in favor of the Borrower or such Affiliate) and acknowledge that neither the Administrative Agent nor the Collateral Agent shall be under any obligation to provide such information to them. With respect to its Loans (if any), each Agent and its Affiliates shall have the same rights and powers under this Agreement as any other Lender and may exercise such rights and powers as though it were not the Administrative Agent or the Collateral Agent and the terms "Lender" and "Lenders" include each Agent in its individual capacity. Any successor to MUFG as the Administrative Agent or SMBC as the Collateral Agent shall also have the rights attributed to MUFG or SMBC, as applicable, under this <u>Section 9.08</u>.

Section 9.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Successor Agents</u>. Each of the Administrative Agent and the Collateral Agent may resign as the Administrative Agent or the Collateral Agent, as applicable, upon thirty (30) days' notice to the Lenders, the Borrower and each other Agent and if either the Administrative Agent or the Collateral Agent is a Defaulting Lender, the Borrower may remove such Defaulting Lender from such role upon ten (10) days' notice to the Administrative Agent or Collateral Agent, as applicable, the Lenders and each other Agent. If the Administrative Agent or the Collateral Agent resigns or is removed by the Borrower, the Required Lenders shall appoint a successor agent, which successor agent shall (a) in the case of the Administrative Agent, be selected from among the Lenders and (b) be consented to by the Borrower at all times other than during the existence of Payment or Bankruptcy Default (which consent of the Borrower shall not be unreasonably withheld or delayed); *provided* that in no event shall any such successor Administrative Agent or Collateral Agent be a Defaulting Lender or a Disqualified Lender. If no successor agent is appointed prior to the effective date of the resignation or removal of the

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Administrative Agent or the Collateral Agent, as applicable, the Administrative Agent or the Collateral Agent, as applicable, in the case of a resignation, and the Borrower, in the case of a removal may appoint, after consulting with the Lenders and the Borrower (in the case of a resignation), a successor agent which, in the case of the Administrative Agent, shall be from among the Lenders (subject to the proviso at the end of the immediately preceding sentence). Upon the acceptance of its appointment as successor agent, the Person acting as such successor agent shall succeed to all the rights, powers and duties of the retiring Administrative Agent or retiring Collateral Agent under the Loan Documents and the term "Administrative Agent" or "Collateral Agent" shall mean such successor administrative agent or collateral agent, as the case may be, and the retiring Administrative Agent's or Collateral Agent's appointment, powers and duties as the Administrative Agent or Collateral Agent shall be terminated. After the retiring Administrative Agent's or the Collateral Agent's resignation or removal in accordance herewith as the Administrative Agent or the Collateral Agent, the provisions of this <u>Article IX</u> and the provisions of <u>Sections 10.04</u> and <u>10.05</u> shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent or Collateral Agent in respect of the Loan Documents. If no successor agent has accepted appointment as the Administrative Agent or the Collateral Agent by the date which is thirty (30) days following the retiring Administrative Agent's or Collateral Agent's notice of resignation or ten (10) days following the Borrower's notice of removal, the retiring Administrative Agent's or the retiring Collateral Agent's resignation shall nevertheless thereupon become effective and the Lenders shall perform all of the duties of the Administrative Agent or Collateral Agent hereunder until such time, if any, as the Required Lenders appoint a successor agent as provided for above. Upon the acceptance of any appointment as the Administrative Agent or Collateral Agent in accordance herewith by a successor and upon the execution and filing or recording of such financing statements, or amendments thereto, and such other instruments or notices, as may be necessary or desirable, or as the Required Lenders may request, in order to (x) continue the perfection of the Liens granted or purported to be granted by the Collateral Documents or (y) otherwise ensure that <u>Section 6.11</u> is satisfied, the Administrative Agent or Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, discretion, privileges, and duties of the retiring Administrative Agent or Collateral Agent under the Loan Documents, and the retiring Administrative Agent or Collateral Agent shall be discharged from its duties and obligations under the Loan Documents. After the retiring Administrative Agent's or Collateral Agent's resignation hereunder as the Administrative Agent or the Collateral Agent, the provisions of this <u>Article IX</u> and <u>Sections 10.04</u> and <u>10.05</u> shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as the Administrative Agent or the Collateral Agent.

Section 9.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Administrative Agent May File Proofs of Claim</u>. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be (to the fullest extent permitted by mandatory provisions of applicable Law) entitled and empowered, by intervention in such proceeding or otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the Collateral Agent and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Collateral Agent and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the Collateral Agent and the

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Administrative Agent under <u>Sections 2.07</u>, <u>9.07</u>, <u>10.04</u> and <u>10.05</u>) allowed in such judicial proceeding; and

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

and any custodian, curator, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent or the Collateral Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent or the Collateral Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Agents and their respective agents and counsel, and any other amounts due the Administrative Agent or the Collateral Agent under <u>Sections 2.07</u>, <u>10.04</u> and <u>10.05</u>.

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

Section 9.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Collateral and Guaranty Matters</u>. Each Lender (including in its capacity as a counterparty to a Secured Hedging Agreement) and each other Secured Party by its acceptance of the Collateral Documents irrevocably agrees:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;that any Lien on any property granted to or held by the Administrative Agent or the Collateral Agent under any Loan Document shall be automatically released (i) upon Payment in Full, (ii) at the time the property subject to such Lien is Disposed or to be Disposed as part of or in connection with any Disposition permitted hereunder or under any other Loan Document to any Person other than a Person required to grant a Lien to the Administrative Agent or the Collateral Agent under the Loan Documents, (iii) subject to <u>Section 10.01 and the provisions of the Intercreditor Agreements</u>, if the release of such Lien is approved, authorized or ratified in writing by the Required Lenders, (iv) if the property subject to such Lien is owned by the Parent, either upon release of the Parent from its obligations under its Guaranty pursuant to <u>clause (b)</u> below, (v) to the extent (and only for so long as) such property constitutes an "Excluded Asset", (vi) upon such Collateral no longer required to be perfected under the Collateral and Guarantee Requirement or (vii) if the release of such Lien on such property is permitted under the terms of each applicable Collateral Document and the Intercreditor Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;that the Parent shall be automatically released from its obligations under the Guaranty (i) upon the Parent no longer being required to the Guarantor under the Collateral and Guarantee Requirement or (ii) subject to <u>Section 10.01 and the provisions of the Intercreditor Agreements</u>, if such release is approved, authorized or ratified in writing by the Required Lenders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Collateral Agent may, without any further consent of any Lender, enter into (or enter into any supplement or amendment thereto, or an amendment and restatement or replacement thereof) (i) a First Lien Intercreditor Agreement with the applicable Other Debt Representatives with respect to Indebtedness permitted under <u>Section 7.03</u> where such Indebtedness is secured by Permitted Liens that the Borrower elects to secure on a *pari passu* basis with the Liens securing the Obligations and/or (ii) a Junior Lien Intercreditor Agreement with the applicable Other Debt Representatives with respect to Indebtedness permitted under <u>Section 7.03</u> where such Indebtedness is secured by Permitted Liens that the Borrower elects to secure on a junior basis to the Liens securing the Obligations. The Collateral Agent

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may rely exclusively on a certificate of a Responsible Officer of the Borrower as to whether any such other Liens are permitted. Any First Lien Intercreditor Agreement or any Junior Lien Intercreditor Agreement (or any supplement or amendment thereto, or amendment and restatement or replacement thereof) entered into by the Collateral Agent in accordance with the terms of this Agreement shall be binding on the Secured Parties.

Upon request by the Administrative Agent or the Collateral Agent at any time, the Required Lenders will confirm in writing the Administrative Agent's or the Collateral Agent's authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this <u>Section 9.11</u>. In each case as specified in this <u>Section 9.11</u>, the Administrative Agent or the Collateral Agent will promptly upon the request of the Borrower (and each Lender irrevocably authorizes the Administrative Agent and the Collateral Agent to), at the Borrower's expense, execute and deliver to the applicable Loan Party such documents as the Borrower may reasonably request to evidence the release or subordination of such item of Collateral from the assignment and security interest granted under the Collateral Documents, or to evidence the release of any Guarantor from its obligations under the Guaranty, in each case in accordance with the terms of the Loan Documents and this <u>Section 9.11</u> (and the Administrative Agent and the Collateral Agent may rely conclusively on a certificate of a Responsible Officer of the Borrower to that effect provided to it by any Loan Party upon its reasonable request without further inquiry). Any execution and delivery of documents pursuant to this <u>Section 9.11</u> shall be without recourse to or warranty by the Administrative Agent or the Collateral Agent. For the avoidance of doubt, no release of Collateral or Guarantors effected in the manner permitted by this <u>Section 9.11</u> shall require the consent of any holder of obligations under any Secured Hedging Agreement.

Section 9.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Agents; Lead Arrangers and Managers</u>. None of the Lenders or other Persons identified on the facing page or signature pages of this Agreement as a "bookrunner", "lead arranger", "co-manager", "co-syndication agent" or "co-documentation agent" shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such. Without limiting the foregoing, none of the Lenders or other Persons so identified shall have or be deemed to have any fiduciary relationship with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any of the Lenders or other Persons so identified in deciding to enter into this Agreement or in taking or not taking action hereunder.

Section 9.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Appointment of Supplemental Agents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;It is the purpose of this Agreement and the other Loan Documents that there shall be no violation of any Law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as agent or trustee in such jurisdiction. It is recognized that in case of litigation under this Agreement or any of the other Loan Documents, and in particular in case of the enforcement of any of the Loan Documents, or in case the Administrative Agent or the Collateral Agent deems that by reason of any present or future Law of any jurisdiction it may not exercise any of the rights, powers or remedies granted herein or in any of the other Loan Documents or take any other action which may be desirable or necessary in connection therewith, the Administrative Agent and the Collateral Agent are hereby authorized to appoint an additional individual or institution selected by the Administrative Agent or the Collateral Agent in its sole discretion as a separate trustee, co-trustee, administrative agent, collateral agent, administrative sub-agent or administrative co-agent (any such additional individual or institution being referred to herein individually as a "**Supplemental Agent**" and collectively as "**Supplemental Agents**").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Collateral Agent appoints a Supplemental Agent with respect to any Collateral, (i) each and every right, power, privilege or duty expressed or intended by this Agreement or any of the other Loan Documents to be exercised by or vested in or conveyed to the Collateral Agent with respect to such Collateral shall be exercisable by and vest in such Supplemental Agent to the extent, and only to the extent, necessary to enable such Supplemental Agent to exercise such rights, powers and privileges with respect to such Collateral and to perform such duties with respect to such Collateral, and every covenant and obligation contained in the Loan Documents and necessary to the exercise or performance thereof by such Supplemental Agent shall run to and be enforceable by either the Collateral Agent or such Supplemental Agent, and (ii) the provisions of this <u>Article IX</u> and of <u>Sections 10.04</u> and <u>10.05</u> that refer to the Administrative Agent shall inure to the benefit of such Supplemental Agent and all references therein to the Collateral Agent shall be deemed to be references to the Collateral Agent and/or such Supplemental Agent, as the context may require.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Should any instrument in writing from any Loan Party be required by any Supplemental Agent so appointed by the Administrative Agent or the Collateral Agent for more fully and certainly vesting in and confirming to him or it such rights, powers, privileges and duties, such Loan Party shall execute, acknowledge and deliver any and all such instruments promptly upon request by the Administrative Agent or the Collateral Agent. In case any Supplemental Agent, or a successor thereto, shall die, become incapable of acting, resign or be removed, all the rights, powers, privileges and duties of such Supplemental Agent, to the extent permitted by Law, shall vest in and be exercised by the Administrative Agent until the appointment of a new Supplemental Agent.

Section 9.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Withholding Tax Indemnity</u>. To the extent required by any applicable law, the Administrative Agent may withhold from any payment to any Lender an amount equivalent to any applicable withholding Tax. If the Internal Revenue Service or any other authority of the United States or other jurisdiction asserts a claim that the Administrative Agent did not properly withhold Tax from amounts paid to or for the account of any Lender for any reason (including because the appropriate form was not delivered or not properly executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of withholding Tax ineffective), such Lender shall, within ten (10) days after written demand therefor, indemnify and hold harmless the Administrative Agent (to the extent that the Administrative Agent has not already been reimbursed by the Borrower pursuant to <u>Section 3.01</u> and <u>Section 3.04</u> and without limiting or expanding the obligation of the Borrower to do so) for all amounts paid, directly or indirectly, by the Administrative Agent as Taxes or otherwise, together with all expenses incurred, including legal expenses and any other out-of-pocket expenses, whether or not such Tax was correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document against any amount due the Administrative Agent under this <u>Section 9.14</u>. The agreements in this <u>Section 9.14</u> shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender and the repayment, satisfaction or discharge of all other Obligations.

Section 9.15&nbsp;&nbsp;&nbsp;&nbsp;<u>ERISA Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of the Administrative Agent, the Lead Arrangers and their respective Affiliates, that at least one of the following is and will be true:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;such Lender is not using "plan assets" (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender's entrance into, participation in, administration of and performance of the Term Loans or this Agreement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the transaction exemption set forth in one or more PTEs, such as PTE 8414 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 9623 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender's entrance into, participation in, administration of and performance of the Term Loans and this Agreement,

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Lead Arrangers and their respective Affiliates that none of the Administrative Agent, any of the Lead Arrangers or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in such Lender's entrance into, participation in, administration of and performance of the Term Loans and this Agreement (including in connection with the reservation of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto).

Section 9.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Erroneous Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender hereby acknowledges and agrees that if the Administrative Agent notifies such Lender that the Administrative Agent has determined in its sole discretion that any funds (or any portion thereof) received by such Lender (any of the foregoing, a "**Recipient**") from the Administrative Agent (or any of its Affiliates) were erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Recipient (whether or not known to such Recipient) (whether as a payment, prepayment or repayment of principal, interest, fees or otherwise; individually and collectively, a "**Payment**") and demands the return of such Payment, such Recipient shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment as to which

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such a demand was made. A notice of the Administrative Agent to any Recipient under this Section shall be conclusive, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Without limitation of <u>clause (a)</u> above, each Recipient further acknowledges and agrees that if such Recipient receives a Payment from the Administrative Agent (or any of its Affiliates) (i) that is in an amount, or on a date different from the amount and/or date specified in a notice of payment sent by the Administrative Agent (or any of its Affiliates) with respect to such Payment (a "**Payment Notice**"), (ii) that was not preceded or accompanied by a Payment Notice, or (iii) that such Recipient otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part), in each case, it understands and agrees at the time of receipt of such Payment that an error has been made (and that it is deemed to have knowledge of such error) with respect to such Payment. Each Recipient agrees that, in each such case, it shall promptly notify the Administrative Agent of such occurrence and, upon demand from the Administrative Agent, it shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment (or portion thereof) as to which such a demand was made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Any Payment required to be returned by a Recipient under this Section shall be made in Same Day Funds in the currency so received, together with interest thereon in respect of each day from and including the date such Payment (or portion thereof) was received by such Recipient to the date such amount is repaid to the Administrative Agent at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. Each Recipient hereby agrees that it shall not assert and, to the fullest extent permitted by applicable law, hereby waives, any right to retain such Payment, and any claim, counterclaim, defense or right of set-off or recoupment or similar right to any demand by the Administrative Agent for the return of any Payment received, including without limitation any defense based on "discharge for value" or any similar doctrine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower and each other Loan Party hereby agrees that (i) in the event an erroneous Payment (or portion thereof) is not recovered from any Lender that has received such Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the rights of such Lender with respect to such amount and (ii) an erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the Borrower or any other Loan Party except, in each case, to the extent such erroneous Payment is, and with respect to the amount of such erroneous Payment that is, comprised of funds of the Borrower or any other Loan Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Each party's obligations, agreements and waivers under this <u>Section 9.16</u> shall survive the resignation or replacement of the Administrative Agent, any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments and/or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.

**ARTICLE X <br>MISCELLANEOUS**

Section 10.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments, Etc.</u> Except as otherwise set forth in this Agreement and subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement), no amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by any Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders, or by the Administrative Agent with the consent of the Required Lenders, and such Loan Party (with an executed copy thereof promptly delivered to the Administrative Agent if not

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otherwise a party thereto) and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; *provided* that any amendment or waiver contemplated in clause (h) below, shall only require the consent of such Loan Party and the Required Facility Lenders under the applicable Facility, as applicable; *provided, further,* that no such amendment, waiver or consent shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;extend or increase the Commitment of any Lender without the written consent of each Lender holding such Commitment (it being understood that a waiver of any condition precedent or of any Default, mandatory prepayment or mandatory reduction of the Commitments shall not constitute an extension or increase of any Commitment of any Lender);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;postpone any date scheduled for, or reduce or forgive the amount of, any payment of principal or interest under <u>Sections 2.05</u> or <u>2.06</u> without the written consent of each Lender holding the applicable Obligation (it being understood that the waiver of (or amendment to the terms of) any mandatory prepayment of the Term Loans shall not constitute a postponement of any date scheduled for the payment of principal or interest);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;reduce or forgive the principal of, or the rate of interest specified herein on, any Loan or any fees or other amounts payable hereunder or under any other Loan Document (or change the timing of payments of such fees or other amounts) without the written consent of each Lender holding such Loan or to whom such fee or other amount is owed; *provided* that only the consent of the Required Lenders shall be necessary to amend the definition of "Default Rate" or to waive any obligation of the Borrower to pay interest at the Default Rate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;change any provision of <u>Section 8.04</u> or <u>10.01</u> or the definition of "Required Lenders," "Required Class Lenders," "Required Facility Lenders" or any other provision specifying the number of Lenders or portion of the Loans or Commitments required to take any action under the Loan Documents, in each case, without the written consent of each Lender directly and adversely affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;other than in connection with a transaction permitted under <u>Sections 7.04</u> or <u>7.05</u> or under <u>Section 9.11</u>. release all or substantially all of the Collateral in any transaction or series of related transactions, without the written consent of each Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;other than in connection with a transaction permitted under <u>Sections 7.04</u> or <u>7.05</u> or under <u>Section 9.11</u>, release all or substantially all of the aggregate value of the Guarantees provided by the Guarantors, without the written consent of each Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;amend, waive or otherwise modify the portion of the definition of "Interest Period" that provides for one (1), three (3) or six (6) month intervals to automatically allow intervals in excess of six (6) months, without the written consent of each Lender affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;amend, waive or otherwise modify any term or provision (including the availability and conditions to funding under <u>Section 2.12</u> (but not the conditions to implementing Incremental Term Loans pursuant to <u>Section 2.12(d)</u>) with respect to Incremental Term Loans, under <u>Section 2.13</u> with respect to Refinancing Term Loans and under <u>Section 2.14</u> with respect to Extended Term Loans and, in each case, the rate of interest applicable thereto) which directly affects Lenders of one or more Incremental Term Loans, Refinancing Term Loans or Extended Term Loans and does not directly affect Lenders under any other Facility, in each case, without the written consent of the Required Facility Lenders under such applicable Incremental Term Loans, Refinancing Term Loans or Extended Term Loans (and in the case of multiple Facilities which are affected, with respect to any such Facility, such

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consent shall be effected by the Required Facility Lenders of such Facility); *provided*, *however*, that the waivers described in this clause (h) shall not require the consent of any Lenders other than the Required Facility Lenders under such applicable Refinancing Term Loans or Extended Term Loans, as the case may be; and *provided*, *further*, that (A) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent or the Collateral Agent, as applicable, in addition to the Lenders required above, affect the rights or duties of, or any fees or other amounts payable to, the Administrative Agent or the Collateral Agent, as applicable, under this Agreement or any other Loan Document and (B) the consent of the Required Class Lenders of any Class of Commitments or Loans shall be required with respect to any amendment that by its terms adversely affects the rights of such Class in respect of payments or Collateral hereunder in a manner different than such amendment affects other Classes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;change any provision of <u>Section 2.10(a)</u>, <u>Section 2.11</u> or the definition of "Pro Rata Share" or any other provision of this Agreement that expressly governs the *pro rata* sharing of payments or the application of payments of proceeds from Collateral, in each case, in any manner that would alter the *pro rata* sharing of payments or other amounts or the order of application required hereunder, without the written consent of each Lender directly and adversely affected thereby; *provided* that modifications of the definition of "Pro Rata Share" in connection with (x) any buy-back of Term Loans by the Parent or the Borrower pursuant to <u>Section 10.07(m)</u>, (y) any Incremental Amendment or (z) any Extension Amendment, in each case, shall only require approval (to the extent any such approval is otherwise required) of the Required Lenders and the Required Class Lenders of any Class of Commitments or Loans with respect to any such amendment that by its terms adversely affects the rights of such Class in respect of payments or Collateral hereunder in a manner different than such amendment affects other Classes; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;(x) subordinate, or have the effect of subordinating, any of the Obligations in right of payment to any other Indebtedness for borrowed money or (y) subordinate, or have the effect of subordinating, the Lien securing any of the Obligations on all or substantially all of the Collateral to any other Lien securing any other Indebtedness (except as provided in <u>Section 9.11</u> (without giving effect to any amendment the primary purpose of which is to permit the subordination of the Lien securing any of the Obligations on all or substantially all of the Collateral)), in each case, without the consent of each Lender affected thereby; *provided* that no such Lender's consent shall be required pursuant to this <u>Section 10.01(j)</u> with respect to any debtor-in-possession financing.

Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms materially and adversely affects any Defaulting Lender (if such Lender were not a Defaulting Lender) to a greater extent than other affected Lenders shall require the consent of such Defaulting Lender.

Notwithstanding anything to the contrary in this <u>Section 10.01</u>, no Lender consent is required in connection with the execution and delivery by the Collateral Agent of any First Lien Intercreditor Agreement, any Junior Lien Intercreditor Agreement or other Intercreditor Agreement or arrangement permitted under this Agreement (or any supplement or amendment thereto, or an amendment and restatement thereof) that is for the purpose of adding (i) the Other Debt Representative with respect to any Indebtedness permitted under <u>Section 7.03</u> where such Indebtedness is secured by Permitted Liens that the Borrower elects to secure on a *pari passu* basis with the Liens securing the Obligations or (ii) the

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Other Debt Representative with respect to Indebtedness permitted under <u>Section 7.03</u> where such Indebtedness is secured by Permitted Liens that the Borrower elects to secure on a junior basis to the Liens securing the Obligations (it being understood that the Borrower may make such other changes to the applicable Intercreditor Agreement (including in connection with any supplement or amendment thereto, or amendment and restatement thereof) as, in the good faith determination of the Borrower are required to effectuate the foregoing and *provided* that such other changes are not adverse, in any material respect, to the interests of the Lenders (as determined by the Borrower)); *provided*, *further*, that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent or the Collateral Agent hereunder or under any other Loan Document without the prior written consent of the Administrative Agent or the Collateral Agent, as applicable.

Notwithstanding anything to the contrary in this <u>Section 10.01</u>, this Agreement and any other Loan Document may be amended solely with the consent of the Administrative Agent and/or the Collateral Agent (if applicable) and the Borrower without the need to obtain the consent of any other Lender if such amendment is delivered in order (A) to correct or cure ambiguities, errors, omissions or defects, (B) to effect administrative changes of a technical or immaterial nature, (C) to fix incorrect cross references or similar inaccuracies in this Agreement or the applicable Loan Document, (D) to implement the "market flex" provisions set forth in the Fee Letters, (E) add any financial covenant or other terms for the benefit of all Lenders or any Class of Lenders pursuant to the conditions imposed on the incurrence of any Indebtedness set forth elsewhere in this Agreement, (F) to implement amendments permitted by the Intercreditor Agreements, this Agreement or the other Collateral Documents that do not by the terms of the Intercreditor Agreements or other Collateral Documents require lender consent, (G) to increase the Target Debt Balance Amount with a Target Debt Balance Amount Adjustment in connection with the incurrence of additional Parity Lien Debt used for Permitted Incremental Uses, and, in each case of clauses (A), (B), (C) and (G), such amendment shall become effective without any further action or the consent of any other party to any Loan Document if the same is not objected to in writing by the Required Lenders within five (5) Business Days following receipt of notice thereof. The Collateral Documents and related documents in connection with this Agreement and the other Loan Documents may be in a form reasonably determined by the Administrative Agent and may be, together with this Agreement, amended, supplemented and waived with the consent of the Administrative Agent and/ or the Collateral Agent (if applicable) at the request of the Borrower without the need to obtain the consent of any other Lender if such amendment, supplement or waiver is delivered in order (i) to comply with local Law or advice of local counsel, (ii) to correct or cure ambiguities, omissions, mistakes or defects or (iii) to cause such Collateral Documents or other document to be consistent with this Agreement and the other Loan Documents and, in each case, such amendment shall become effective without any further action or the consent of any other party to any Loan Document if the same is not objected to in writing by the Required Lenders within five (5) Business Days following receipt of notice thereof.

Notwithstanding anything in this Agreement or any other Loan Document to the contrary, the Borrower and the Administrative Agent may enter into any Incremental Amendment in accordance with <u>Section 2.12</u>, any Refinancing Amendment in accordance with <u>Section 2.13</u> and any Extension Amendment in accordance with <u>Section 2.14</u> and such Incremental Amendments, Refinancing Amendments and Extension Amendments shall be effective to amend the terms of this Agreement and the other applicable Loan Documents, in each case, without any further action or consent of any other party to any Loan Document. In addition, upon the initial incurrence of any Loans intended to be secured on a basis junior in right of priority to the Obligations or intended to be unsecured pursuant to any Incremental Amendment or Refinancing Amendment, the Borrower, the Administrative Agent and the Collateral Agent may, without the need to obtain consent of any other Lender, make changes to the Loan Documents reasonably satisfactory to the Borrower, the Administrative Agent and the Collateral Agent

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that are necessary to reflect the junior Lien status or unsecured status of such Loans, including but not limited to (i) entering into the Junior Lien Intercreditor Agreement by the Collateral Agent on behalf of the holders of such junior lien Loans, (ii) including such Loans in the definition of "Latest Maturity Date" or Weighted Average Life to Maturity limitations but only with respect to future Indebtedness secured on a junior lien basis to the Lien securing the Initial Term Loans or unsecured (or not secured by the Collateral) and (iii) amending the Collateral Documents to exclude unsecured Loans from "Obligations" secured thereby.

Notwithstanding anything to the contrary herein, at any time and from time to time, upon notice to the Administrative Agent (who shall promptly notify the applicable Lenders) specifying in reasonable detail the proposed terms thereof, the Borrower may make one or more loan modification offers to all the Lenders of any Facility that would, if and to the extent accepted by any such Lender, (a) change the Applicable Rate and/or fees payable with respect to the Loans and Commitments under such Facility (in each case solely with respect to the Loans and Commitments of accepting Lenders in respect of which an acceptance is delivered) and (b) treat the Loans and Commitments so modified as a new "Facility" and a new "Class" for all purposes under this Agreement; *provided* that (i) such loan modification offer is made to each Lender under the applicable Facility on the same terms and subject to the same procedures as are applicable to all other Lenders under such Facility (which procedures in any case shall be reasonably satisfactory to the Administrative Agent) and (ii) no loan modification shall affect the rights or duties of, or any fees or other amounts payable to, the Administrative Agent without its prior written consent.

In connection with any such loan modification, the Borrower and each accepting Lender shall execute and deliver to the Administrative Agent such agreements and other documentation as the Administrative Agent shall reasonably specify to evidence the acceptance of the applicable loan modification offer and the terms and conditions thereof, and this Agreement and the other Loan Documents shall be amended in a writing (which may be executed and delivered by the Borrower and the Administrative Agent and shall be effective only with respect to the applicable Loans and Commitments of Lenders that shall have accepted the relevant loan modification offer (and only with respect to Loans and Commitments as to which any such Lender has accepted the loan modification offer)) to the extent necessary or appropriate, in the judgment of the Administrative Agent, to reflect the existence of, and to give effect to the terms and conditions of, the applicable loan modification (including the addition of such modified Loans and/or Commitments as a "Facility" or a "Class" hereunder). No Lender shall have any obligation whatsoever to accept any loan modification offer, and may reject any such offer in its sole discretion. Notwithstanding the foregoing, no modification referred to above shall become effective unless the Administrative Agent, to the extent reasonably requested by the Administrative Agent, shall have received legal opinions, board resolutions, officer's certificates and/or reaffirmation agreements consistent with those delivered on the Closing Date under <u>Section 4.01</u> with respect to the Borrower and the other Loan Parties.

Section 10.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices and Other Communications; Facsimile Copies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*General.* Unless otherwise expressly provided herein, all notices and other communications provided for hereunder or under any other Loan Document shall be in writing (including by facsimile transmission or electronic mail). All such written notices shall be mailed, faxed or delivered to the applicable address, facsimile number or electronic mail address, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if to the Borrower (or any other Loan Party) or the Administrative Agent or the Collateral Agent, to the address, facsimile number, electronic mail address or telephone number specified for such Person on <u>Schedule 10.02(a)</u> or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the other parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the Borrower and the Administrative Agent or the Collateral Agent.

All such notices and other communications shall be deemed to be given or made upon the earlier to occur of (i) actual receipt by the relevant party hereto and (ii) (A) if delivered by hand or by courier, when signed for by or on behalf of the relevant party hereto; (B) if delivered by mail, four (4) Business Days after deposit in the mails, postage prepaid; (C) if delivered by facsimile, when sent and receipt has been confirmed by telephone; and (D) if delivered by electronic mail (which form of delivery is subject to the provisions of <u>Section 10.02(d)</u>), when delivered; *provided* that notices and other communications to the Administrative Agent and the Collateral Agent pursuant to <u>Article II</u> shall not be effective until actually received by such Person. In no event shall a voice mail message be effective as a notice, communication or confirmation hereunder. Any notice not given during normal business hours for the recipient shall be deemed to have been given at the opening of business on the next Business Day for the recipient.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Effectiveness of Facsimile Documents and Signatures.* Loan Documents may be transmitted and/or signed by facsimile or other electronic communication. The effectiveness of any such documents and signatures shall, subject to applicable Law, have the same force and effect as manually signed originals and shall be binding on all Loan Parties, the Agents and the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Reliance by Agents and Lenders.* The Administrative Agent, the Collateral Agent and the Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices) purportedly given by or on behalf of the Loan Parties even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify each Agent-Related Person and each Lender from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Loan Parties in the absence of bad faith, gross negligence or willful misconduct as determined in a final and non-appealable judgment by a court of competent jurisdiction. All telephonic notices to the Administrative Agent or Collateral Agent may be recorded by the Administrative Agent or the Collateral Agent, and each of the parties hereto hereby consents to such recording.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Electronic Communications*. Notices and other communications to the Lenders hereunder may be delivered or furnished by FpML messaging and Internet or intranet websites pursuant to procedures approved by the Administrative Agent acting reasonably, *provided* that the foregoing shall not apply to notices to any Lender pursuant to <u>Article II</u> if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by such communication. The Administrative Agent or the Borrower may each, in its discretion, agree to accept notices and other communications to it hereunder by FpML messaging and Internet or intranet websites pursuant to procedures approved by it, *provided* that approval of such procedures may be limited to particular notices or communications. Unless the Administrative Agent otherwise prescribes, notices or communications posted to an Internet or

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intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address of notification that such notice or communication is available and identifying the website address therefor.

Section 10.03&nbsp;&nbsp;&nbsp;&nbsp;<u>No Waiver; Cumulative Remedies</u>. No failure by any Lender or the Administrative Agent or the Collateral Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by Law.

Section 10.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Attorney Costs and Expenses</u>. The Borrower agrees (a) if the Closing Date occurs, to pay or reimburse the Administrative Agent, the Collateral Agent and the Lead Arrangers for all reasonable and documented out-of-pocket costs and expenses incurred in connection with the preparation, negotiation, syndication and execution of this Agreement and the other Loan Documents, and any amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or not the transactions contemplated thereby are consummated), and the consummation and administration of the transactions contemplated hereby and thereby (including all Attorney Costs, which shall be limited to one primary counsel for the Administrative Agent, the Collateral Agent and the Lead Arrangers (which shall be Skadden, Arps, Slate, Meagher & Flom LLP for any and all of the foregoing in connection with the Transactions and other matters, including primary syndication, to occur on or prior to or otherwise in connection with the Closing Date)) and one local counsel for the Administrative Agent, the Collateral Agent and the Lead Arrangers as reasonably necessary in each relevant jurisdiction material to the interests of the Lenders taken as a whole (and solely in the case of an actual or perceived conflict of interest, one additional counsel in each relevant jurisdiction that is material to each group of similarly situated affected Indemnitees) and (b) from and after the Closing Date, to pay or reimburse the Administrative Agent, the Collateral Agent, the Lead Arrangers and each Lender for all reasonable and documented out-of-pocket costs and expenses incurred in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of any rights or remedies under this Agreement or the other Loan Documents (including all such costs and expenses incurred during any legal proceeding, including any proceeding under any Debtor Relief Law), and including all respective Attorney Costs which shall be limited to Attorney Costs of one counsel to the Administrative Agent, the Collateral Agent and the Lead Arrangers (and one local counsel to the Administrative Agent, the Collateral Agent and the Lead Arrangers as reasonably necessary in each relevant jurisdiction material to the interests of the Lenders taken as a whole (and solely in the case of an actual or perceived conflict of interest, one additional counsel in each relevant jurisdiction that is material to each group of similarly situated affected Indemnitees)). The foregoing costs and expenses shall include all reasonable search, filing, recording and title insurance charges and fees related thereto, and other reasonable and documented out-of-pocket expenses incurred by any Agent. The agreements in this <u>Section 10.04</u> shall survive the termination of the Aggregate Commitments, the repayment of all other Obligations and the resignation or removal of the Administrative Agent and the Collateral Agent. All amounts due under this <u>Section 10.04</u> shall be paid within thirty (30) days after receipt by the Borrower of an invoice relating thereto setting forth such expenses in reasonable detail including, if requested by the Borrower and to the extent reasonably available, backup documentation supporting such reimbursement request; *provided* that, with respect to the Closing Date, all amounts due under this <u>Section 10.04</u> shall be paid on the Closing Date solely to the extent invoiced to the Borrower within three (3) Business Days of the Closing Date. If any Loan Party fails to pay when due any costs, expenses or other amounts payable by it hereunder or under any Loan

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Document, such amount may be paid on behalf of such Loan Party by the Administrative Agent in its sole discretion.

For the avoidance of doubt, this <u>Section 10.04</u> shall not apply to Taxes.

Section 10.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification by the Borrower</u>. The Borrower shall indemnify and hold harmless each Agent-Related Person, each Lender and their respective Affiliates and their respective officers, directors, employees, partners, agents, advisors and other representatives of each of the foregoing (collectively the "**Indemnitees**") from and against any and all liabilities (including Environmental Liabilities), obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements (including Attorney Costs but limited in the case of legal fees and expenses to the reasonable and documented out-of-pocket fees, disbursements and other charges of one counsel to all Indemnitees taken as a whole and, if reasonably necessary, one local counsel for all Indemnitees taken as a whole in each relevant jurisdiction that is material to the interests of the Lenders, and solely in the case of an actual or perceived conflict of interest, one additional counsel in each relevant material jurisdiction for all affected Indemnitees that are similarly situated taken as a whole) of any kind or nature whatsoever which may at any time be imposed on, incurred by or asserted against any such Indemnitee in any way arising out of or in connection with (a) the execution, delivery, enforcement, performance or administration of any Loan Document or any other agreement, letter or instrument delivered in connection with the transactions contemplated thereby or the consummation of the transactions contemplated thereby, (b) any Commitment or Loan or the use or proposed use of the proceeds therefrom, or (c) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (including any investigation of, preparation for, or defense of any pending or threatened claim, investigation, litigation or proceeding), whether brought by a third party or by the Borrower or other Loan Party, and regardless of whether any Indemnitee is a party thereto (all the foregoing, collectively, the "**Indemnified Liabilities**") in all cases, whether or not caused by or arising, in whole or in part, out of the negligence of the Indemnitee; *provided* that, notwithstanding the foregoing, such indemnity shall not, as to any Indemnitee, be available to the extent that such liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses or disbursements (x) resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or of any of its Affiliates or Controlling Persons or their respective directors, officers, employees, partners, agents, advisors or other representatives, as determined by a final non-appealable judgment of a court of competent jurisdiction, (y) arising from a material breach of any obligations under any Loan Document by such Indemnitee or of any of its Affiliates or Controlling Persons or their respective directors, officers, employees, partners, agents, advisors or other representatives, as determined by a final non-appealable judgment of a court of competent jurisdiction or (z) arising from any dispute solely among Indemnitees (other than any claims against an Indemnitee in its capacity or in fulfilling its role as the Administrative Agent, a Lead Arranger or any similar role under any Facility and other than any claims arising out of any act or omission of the Borrower or any of its Affiliates). No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through Debtdomain, Roadshow Access (if applicable) or other similar information transmission systems in connection with this Agreement or any other Loan Document, except to the extent such damages have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or of any of its Affiliates or Controlling Persons or their respective directors, officers, employees, partners, agents, advisors or other representatives, as determined by a final non-appealable judgment of a court of competent jurisdiction, nor, to the extent permissible under applicable Law, shall (A) any Indemnitee or (B) any Loan Party, Sponsor or any of their respective Affiliates have any liability for any special, punitive, indirect or consequential damages relating to this Agreement or any other Loan Document or arising out of its activities in connection herewith or therewith (whether before or after the Closing Date) (other than, in the case of the preceding clause (B), in respect

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of any such damages incurred or paid by an Indemnitee to a third party and for any out-of-pocket expenses in each case subject to the indemnification provisions of this <u>Section 10.05</u>); it being agreed that this sentence shall not limit the indemnification obligations of the Borrower or any other Loan Party. In the case of an investigation, litigation or other proceeding to which the indemnity in this <u>Section 10.05</u> applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by any Loan Party, its directors, stockholders or creditors or an Indemnitee or any other Person, whether or not any Indemnitee is otherwise a party thereto and whether or not any of the transactions contemplated hereunder or under any of the other Loan Documents are consummated. All amounts due under this <u>Section 10.05</u> shall be paid within thirty (30) days after written demand therefor (together with backup documentation supporting such reimbursement request); *provided*, *however*, that such Indemnitee shall promptly refund the amount of any payment to the extent that there is a final judicial or arbitral determination that such Indemnitee was not entitled to indemnification rights with respect to such payment pursuant to the express terms of this <u>Section 10.05</u>.

The agreements in this <u>Section 10.05</u> shall survive the resignation or removal of the Administrative Agent or Collateral Agent, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. For the avoidance of doubt, this <u>Section 10.05</u> shall not apply to Taxes, except any Taxes that represent liabilities, obligations, losses, damages, penalties, claims, demands, actions, prepayments, suits, costs, expenses and disbursements arising from any non-Tax claims.

Section 10.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments Set Aside</u>. To the extent that any payment by or on behalf of the Borrower is made to any Agent or any Lender, or any Agent or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by such Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall, to the fullest extent possible under provisions of applicable Law, be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share of any amount so recovered from or repaid by any Agent, *plus* interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Overnight Bank Funding Rate from time to time in effect, in the applicable currency of such recovery or payment.

Section 10.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (except as permitted by <u>Section 7.04</u>) and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Assignee pursuant to an assignment made in accordance with the provisions of <u>Section 10.07(b)</u> (such an assignee, an "**Eligible Assignee**") and (A) in the case of any Assignee that, immediately prior to or upon giving effect to such assignment, is an Affiliated Lender, <u>Section 10.07(k)</u>, (B) in the case of any Assignee that is the Parent or the Borrower, <u>Section 2.03(a)(iv)</u> or <u>Section 10.07(l)</u>, or (C) in the case of any Assignee that, immediately prior to or upon giving effect to such assignment, is a Debt Fund Affiliate, <u>Section 10.07(o)</u>, (ii) by way of participation in accordance with the provisions of <u>Section 10.07(f)</u>, (iii) by way of pledge or assignment of a security interest subject to the restrictions of <u>Section 10.07(h)</u>, or (iv) to an SPC in accordance with the provisions of <u>Section 10.07(i)</u> (and any other attempted assignment or transfer by any party hereto

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shall be null and void); *provided*, *however*, that notwithstanding anything to the contrary, no Lender may assign or transfer by participation any of its rights or obligations hereunder to (i) any Person that is a Defaulting Lender or a Disqualified Lender (so long as the Administrative Agent may make a schedule thereof available to any Lender upon request, in each case, subject to the confidentiality provisions of <u>Section 10.08</u>) (*provided* that any update to the list of Disqualified Lenders shall not apply retroactively to disqualify any Person that has previously acquired an assignment or participation in any Facility and any failure of the Borrower to respond to any request for consent of assignment shall not cause such Person to cease to constitute a Disqualified Lender), (ii) a Natural Person or (iii) the Borrower (except pursuant to <u>Section 2.03(a)(iv)</u> or <u>Section 10.07(l)</u>). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in <u>Section 10.07(f)</u> and, to the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement.

Any assignment or participation of a Loan or Commitment by a Lender without the Borrower's consent (A) to a Disqualified Lender or (B) to the extent the Borrower's consent is required under this <u>Section 10.07</u>, to any other Person, shall be null and void, and, in the event of any assignment or participation of any Loan or Commitment by a Lender in breach of the foregoing, the Borrower shall be entitled to seek specific performance to unwind any such assignment or participation in addition to any other remedies available to the Borrower at law or in equity. In addition, the Borrower may (i) terminate any Commitment of such Person and prepay any applicable outstanding Loans at a price equal to the lesser of par and the amount such Person paid to acquire such Loans, without premium, penalty, prepayment fee or breakage, and/or (ii) require such person to assign its rights and obligations to one or more Eligible Assignees at the price indicated above (which assignment shall not be subject to any processing and recordation fee) and if such Person does not execute and deliver to the Administrative Agent a duly executed Assignment and Assumption reflecting such assignment within five (5) Business Days of the date on which the assignee Lender executes and delivers such Assignment and Assumption to such Person, then such Person shall be deemed to have executed and delivered such Assignment and Assumption without any action on its part. In addition, (a) no such Person shall receive any information or reporting provided by the Borrower, the Administrative Agent, the Collateral Agent or any Lender, (b) for purposes of voting, any Loans or Commitments held by such Person shall be deemed not to be outstanding, and such Person shall have no voting or consent rights with respect to "Required Lender" or class votes or consents, (c) for purposes of any matter requiring the vote or consent of each Lender affected by any amendment or waiver, such Person shall be deemed to have voted or consented to approve such amendment or waiver if a majority of the affected class (giving effect to clause (b) above) so approves and (d) such Person shall not be entitled to any expense reimbursement or indemnification rights and shall be treated in all other respects as a Defaulting Lender; it being understood and agreed that the foregoing provisions shall only apply to the Person specified in clauses (A) or (B) of the first sentence of this paragraph and not to any assignee of such Person that becomes a Lender so long as such assignee is not a Disqualified Lender or an affiliate thereof and becomes an assignee in accordance with the provisions of this <u>Section 10.07</u>. Nothing in this Agreement shall be deemed to prejudice any right or remedy that the Borrower may otherwise have at law or equity. Each Lender acknowledges and agrees that the Borrower will suffer irreparable harm if such Lender breaches any obligation under this <u>Section 10.07</u>. Additionally, each Lender agrees that the Borrower may seek to obtain specific performance or other equitable or injunctive relief to enforce this paragraph against such Lender with respect to such breach without posting a bond or presenting evidence of irreparable harm.

The Administrative Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified

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Lenders. Without limiting the generality of the foregoing, the Administrative Agent shall not (a) be obligated to ascertain, monitor or inquire as to whether any Lender or participant or prospective Lender or participant is a Disqualified Lender or (b) have any liability with respect to any assignment or participation of loans, or disclosure of confidential information, to any Disqualified Lender. Notwithstanding anything to the contrary, nothing in the foregoing shall prejudice any right or remedy that the Borrower may have at law or in equity against any Lender who enters into an assignment, participation or other transaction (including the disclosure of confidential information) with a Disqualified Lender in contravention of the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) Subject to <u>Section 10.07(a)</u> and the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees ("**Assignees**") all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld, delayed or conditioned) of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;the Borrower; *provided* that no consent of the Borrower shall be required for (i) an assignment of all or any portion of the Term Loans to a Lender, an Affiliate of a Lender or an Approved Fund, (ii) if an Event of Default under <u>Section 8.01(a)</u> or solely with respect to the Borrower, <u>Section 8.01(f)</u> has occurred and is continuing or (iii) an assignment of all or a portion of the Loans pursuant to <u>Section 10.07(k)</u> or <u>Section 10.07(l)</u>; ; *provided*, *further*, that the Borrower shall be deemed to have consented to any such assignment of any Term Loans unless it shall have objected thereto by written notice to the Administrative Agent within fifteen (15) Business Days after having received notice thereof to a Responsible Officer of the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the Administrative Agent; *provided* that no consent of the Administrative Agent shall be required for an assignment (i) of all or any portion of a Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund or (ii) all or any portion of the Loans pursuant to <u>Section 10.07(k)</u> or <u>Section 10.07(l)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Assignments shall be subject to the following additional conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;except in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or an assignment of the entire remaining amount of the assigning Lender's Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $1,000,000 and shall be in increments of $1,000,000 in excess thereof (*provided* that simultaneous assignments to or from two or more Approved Funds shall be aggregated for purposes of determining compliance with this <u>Section 10.07(b)(ii)(A)</u>), unless each of the Borrower and the Administrative Agent otherwise consents; *provided* that such amounts shall be aggregated in respect of each Lender and its Affiliates or Approved Funds, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption via an electronic settlement system acceptable to the Administrative Agent (or if previously agreed with the Administrative Agent, manually), together with a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the Administrative Agent); *provided* 

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that only one such fee shall be payable in the event of simultaneous assignments to or from two or more Approved Funds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;other than in the case of assignments pursuant to <u>Section 10.07(l)</u>, the Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire (in which the Assignee shall designate one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Loan Parties and their Affiliates or their respective securities) will be made available and who may receive such information in accordance with the Assignee's compliance procedures and applicable laws, including federal and state securities laws) and all applicable tax forms required pursuant to <u>Section 3.01(d)</u>.

This paragraph (b) shall not prohibit any Lender from assigning all or a portion of its rights and obligations among separate Facilities on a non-*pro rata* basis among such Facilities.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Subject to acceptance and recording thereof by the Administrative Agent pursuant to <u>Sections 10.07(d)</u> and <u>(e)</u>, from and after the effective date specified in each Assignment and Assumption, (1) other than in connection with an assignment pursuant to <u>Section 10.07(l)</u>, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and (2) the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of <u>Sections 3.01</u>, <u>3.04</u>, <u>3.05</u>, <u>10.04</u> and <u>10.05</u> with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, and the surrender by the assigning Lender of its Note, the Borrower (at their expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this clause (c) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with <u>Section 10.07(f)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at one of its offices in the United States a copy of each Assignment and Assumption, each Affiliated Lender Assignment and Assumption delivered to it, and each notice of cancellation of any

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Loans delivered by the Borrower to the Administrative Agent pursuant to <u>Section 10.07(l)</u> and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and related interest amounts) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the "**Register**"). The entries in the Register shall be conclusive, absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower, any Agent, with respect to such Lender's own interest only, any Lender, and any other Person to the extent necessary to establish that such obligations are in registered form under Section 5f.103-1(c) of the Treasury Regulations, at any reasonable time and from time to time upon reasonable prior notice. This <u>Section 10.07(d)</u> and <u>Section 2.09</u> shall be construed so that all Loans are at all times maintained in "registered form" within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code and any related Treasury Regulations (or any other relevant or successor provisions of the Code or of such Treasury Regulations). Notwithstanding the foregoing, in no event shall the Administrative Agent be obligated to ascertain, monitor or inquire as to whether any Lender is an Affiliated Lender nor shall the Administrative Agent be obligated to monitor the aggregate amount of Term Loans or Incremental Term Loans held by Affiliated Lenders. Upon request by the Administrative Agent, the Borrower shall (i) promptly (and in any case, not less than five (5) Business Days (or shorter period as agreed to by the Administrative Agent) prior to the proposed effective date of any amendment, consent or waiver pursuant to <u>Section 10.01</u>) provide to the Administrative Agent, a complete list of all Affiliated Lenders holding Term Loans or Incremental Term Loans at such time and (ii) not less than five (5) Business Days (or shorter period as agreed to by the Administrative Agent) prior to the proposed effective date of any amendment, consent or waiver pursuant to <u>Section 10.01</u>, provide to the Administrative Agent, a complete list of all Debt Fund Affiliates holding Term Loans or Incremental Term Loans at such time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Upon its receipt of, and consent to, a duly completed Assignment and Assumption executed by an assigning Lender and an Assignee, an Administrative Questionnaire completed in respect of the assignee (unless the Assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) above, if applicable, and the written consent of the Administrative Agent, if required, and, if required, the Borrower to such assignment and any applicable tax forms required pursuant to <u>Section 3.01(d)</u>, the Administrative Agent shall promptly (i) accept such Assignment and Assumption and (ii) record the information contained therein in the Register. No assignment shall be effective unless it has been recorded in the Register as provided in this paragraph (e).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to any Person (each, a "**Participant**"), in all or a portion of such Lender's rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to it); *provided* that (i) such Lender's obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Agents and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this Agreement or the other Loan Documents; *provided* that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the second proviso to <u>Section 10.01</u> that requires the affirmative vote of such Lender, in each case, to the extent the Participant is directly and adversely affected thereby. Subject to <u>Section 10.07(g)</u>, the Borrower agrees that each Participant shall be entitled to the benefits of <u>Sections 3.01</u>, <u>3.04</u> and <u>3.05</u> 

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(subject to the requirements and limitations of such Sections, including the requirements under <u>Section 3.01(d) (it being understood that the documentation required under Section 3.01(d) shall be delivered to the participating Lender</u>)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to <u>Section 10.07(c)</u>. To the extent permitted by applicable Law, each Participant also shall be entitled to the benefits of <u>Section 10.09</u> as though it were a Lender; *provided* that such Participant agrees to be subject to <u>Section 2.11</u> as though it were a Lender and <u>Section 3.07</u> as though it were an Assignee. Each Participant will provide any applicable tax forms required pursuant to <u>Section 3.01(d)</u> solely to the participating Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and related interest amounts) of each Participant's interest in the Loans or other obligations under this Agreement (the "**Participant Register**"); *provided* that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a Participant's interest in any Commitments or Loans or its other obligations under any Loan Document) except to the extent that (x) such disclosure is necessary in connection with an audit or other proceeding to establish that such Commitment, Loan, or other obligation is in registered form under Section 5f.103-1(c) of the Treasury Regulations and Section 1.163-5(b) of the proposed Treasury Regulations or (y) upon request of the Borrower, to confirm no Participant of Term Loans is a Disqualified Lender. The entries in the Participant Register shall be conclusive and such Lender shall treat each person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;A Participant shall not be entitled to receive any greater payment under <u>Section 3.01</u>, <u>3.04</u> or <u>3.05</u> than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower's prior written consent referencing this <u>Section 10.07(g)</u>, not to be unreasonably withheld or delayed (for the avoidance of doubt, the Borrower shall have reasonable basis for withholding consent if the participation would result in increased gross-up or indemnification obligations by the Borrower at such time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender may, without the consent of the Borrower or the Administrative Agent, at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any central bank having jurisdiction over such Lender; *provided* that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained herein, any Lender (a "**Granting Lender**") may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower (an "**SPC**") the option to provide all or any part of any Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement; *provided* that (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, (ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof and (iii) such SPC and the applicable Loan or any applicable part thereof, shall be appropriately reflected in the Participant Register. Each party hereto hereby agrees that (i) an SPC shall be entitled to the benefit of <u>Sections 3.01</u>, <u>3.04</u> and <u>3.05</u> (subject to the requirements and the limitations of such Sections and it being understood that the documentation required under <u>Section 3.01(d)</u> shall be delivered to the Granting Lender), but neither the grant to any SPC nor the exercise by any SPC of such option shall increase the

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costs or expenses or otherwise increase or change the obligations of the Borrower under this Agreement except in the case of <u>Section 3.01</u> or <u>3.04</u>, to the extent that the grant to the SPC was made with the prior written consent of the Borrower referencing this <u>Section 10.07(i)</u> (not to be unreasonably withheld or delayed; for the avoidance of doubt, the Borrower shall have reasonable basis for withholding consent if an exercise by SPC immediately after the grant would result in increased gross-up or indemnification obligations by the Borrower at such time), (ii) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Loan Document, remain the lender of record hereunder. The making of a Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but without prior consent of the Borrower and the Administrative Agent and with the payment of a processing fee of $3,500, assign all or any portion of its right to receive payment with respect to any Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained herein, without the consent of the Borrower or the Administrative Agent, (1) any Lender may in accordance with applicable Law create a security interest in all or any portion of the Loans owing to it and the Note, if any, held by it and (2) any Lender that is a Fund may create a security interest in all or any portion of the Loans owing to it and the Note, if any, held by it to the trustee for holders of obligations owed, or securities issued, by such Fund as security for such obligations or securities; *provided* that unless and until such trustee actually becomes a Lender in compliance with the other provisions of this <u>Section 10.07</u>, (i) no such pledge shall release the pledging Lender from any of its obligations under the Loan Documents and (ii) such trustee shall not be entitled to exercise any of the rights of a Lender under the Loan Documents even though such trustee may have acquired ownership rights with respect to the pledged interest through foreclosure or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender may at any time, assign on a non-pro rata basis all or a portion of its rights and obligations with respect to Term Loans under this Agreement to a Person who is or will become, after such assignment, an Affiliated Lender through (x) Dutch auctions open to all Lenders of the applicable Class on a *pro rata* basis in accordance with procedures analogous to those described in <u>Section 2.03(a)(iv)</u> or (y) open market purchases on a *pro rata* or non-*pro rata* basis, in each case subject to the following limitations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the assigning Lender and the Affiliated Lender purchasing such Lender's Term Loans shall execute and deliver to the Administrative Agent an assignment agreement substantially in the form of <u>Exhibit I-1</u> hereto (an "**Affiliated Lender Assignment and Assumption**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Lenders will not receive information provided solely to Lenders by the Administrative Agent or any Lender and will not be permitted to attend or participate in conference calls or meetings attended solely by the Lenders and the Administrative Agent, other than the right to receive notices of prepayments and other administrative notices in respect of its Loans or Commitments required to be delivered to Lenders pursuant to <u>Article II</u>, and shall not be permitted to challenge the Administrative Agent's or any Lender's attorney-client privilege;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the aggregate principal amount of Term Loans held at any one time by Affiliated Lenders shall not exceed twenty-five percent (25.0%) of the principal amount of all Term Loans

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at such time outstanding (measured at the time of purchase) (such percentage, the "**Affiliated Lender Cap**")*; provided* that to the extent any assignment to an Affiliated Lender would result in the aggregate principal amount of all Loans held by Affiliated Lenders exceeding the Affiliated Lender Cap, the assignment of such excess amount will be void *ab initio*; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;as a condition to each assignment pursuant to this clause (k), the Administrative Agent shall have been provided an Affiliated Lender Notice in the form of <u>Exhibit I-2</u> (an "**Affiliated Lender Notice**") to this Agreement in connection with each assignment to an Affiliated Lender or a Person that upon effectiveness of such assignment would constitute an Affiliated Lender pursuant to which such Affiliated Lender shall waive any right to bring any action in connection with such Term Loans against the Administrative Agent, in its capacity as such.

Each Affiliated Lender agrees to notify the Administrative Agent promptly (and in any event within ten (10) Business Days) if it acquires any Person who is also a Lender, and each Lender agrees to notify the Administrative Agent promptly (and in any event within ten (10) Business Days) if it becomes an Affiliated Lender. Such notice shall contain the type of information required and be delivered to the same addressee as set forth in <u>Exhibit I-2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender may, so long as no Default or Event of Default has occurred and is continuing, at any time, assign on a non-pro rata basis all or a portion of its rights and obligations with respect to Term Loans under this Agreement to the Parent or the Borrower through (x) Dutch auctions open to all Lenders on a *pro rata* basis in accordance with procedures of the type described in <u>Section 2.03(a)(iv)</u> or (y) notwithstanding <u>Sections 2.10</u> and <u>2.11</u> or any other provision in this Agreement, open market purchase on a pro rata or non-*pro rata* basis; *provided*, that, in connection with assignments pursuant to clauses (x) and (y) above, (i) if the Parent is the assignee, upon such assignment, transfer or contribution, such Parent shall automatically be deemed to have contributed the principal amount of such Term Loans, <u>plus</u> all accrued and unpaid interest thereon, to the Borrower; or (ii) if the assignee is the Borrower (including through contribution or transfers set forth in clause (i) above), (a) the principal amount of such Term Loans, along with all accrued and unpaid interest thereon, so contributed, assigned or transferred to the Borrower shall be deemed automatically cancelled and extinguished on the date of such contribution, assignment or transfer, (b) the aggregate outstanding principal amount of Term Loans of the remaining Lenders shall reflect such cancellation and extinguishing of the Term Loans then held by the Borrower and (c) the Borrower shall promptly provide notice to the Administrative Agent of such contribution, assignment or transfer of such Term Loans, and the Administrative Agent, upon receipt of such notice, shall reflect the cancellation of the applicable Term Loans in the Register.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in <u>Section 10.01</u> or the definition of "Required Lenders," "Required Class Lenders" or "Required Facility Lenders" to the contrary, for purposes of determining whether the Required Lenders, the Required Class Lenders (in respect of a Class of Term Loans) or the Required Facility Lenders have (i) consented (or not consented) to any amendment, modification, waiver, consent or other action with respect to any of the terms of any Loan Document or any departure by any Loan Party therefrom unless the action in question affects any Affiliated Lender in a disproportionately adverse manner than its effect on the other Lenders, or subject to <u>Section 10.07(n)</u>, any plan of reorganization pursuant to the Bankruptcy Code, (ii) otherwise acted on any matter related to any Loan Document or (iii) directed or required the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document, no Affiliated Lender shall have any right to consent (or not consent), otherwise act or direct or require the Administrative Agent or any Lender to take (or refrain from taking) any such action and:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;all Term Loans held by any Affiliated Lenders shall be deemed to be not outstanding for all purposes of calculating whether the Required Lenders, the Required Class Lenders (in respect of a Class of Term Loans) or the Required Facility Lenders have taken any action unless the action in question affects such Affiliated Lender in a disproportionately adverse manner than its effect on other Lenders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;all Term Loans held by Affiliated Lenders shall be deemed to be not outstanding for all purposes of calculating whether all Lenders have taken any action unless the action in question affects such Affiliated Lender in a disproportionately adverse manner than its effect on other Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, each Affiliated Lender hereby agrees that and each Affiliated Lender Assignment and Assumption shall provide a confirmation that, if a proceeding under any Debtor Relief Law shall be commenced by or against the Borrower or other Loan Party at a time when such Lender is an Affiliated Lender, such Affiliated Lender irrevocably authorizes and empowers the Administrative Agent to vote on behalf of such Affiliated Lender with respect to the Term Loans held by such Affiliated Lender in any manner in the Administrative Agent's sole discretion, unless the Administrative Agent instructs such Affiliated Lender to vote, in which case such Affiliated Lender shall vote with respect to the Term Loans held by it as the Administrative Agent directs; *provided* that such Affiliated Lender shall be entitled to vote in accordance with its sole discretion (and not in accordance with the direction of the Administrative Agent) in connection with any plan of reorganization to the extent any such plan of reorganization proposes to treat any Obligations held by such Affiliated Lender in a disproportionately adverse manner to such Affiliated Lender than the proposed treatment of similar Obligations held by Lenders that are not Affiliated Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in <u>Section 10.01</u> or the definition of "Required Lenders" to the contrary, for purposes of determining whether the Required Lenders have (i) consented (or not consented) to any amendment, modification, waiver, consent or other action with respect to any of the terms of any Loan Document or any departure by any Loan Party therefrom, (ii) otherwise acted on any matter related to any Loan Document or (iii) directed or required the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document, all Term Loans held by Debt Fund Affiliates may not account for more than 49.9% (*pro rata* among such Debt Fund Affiliates) of the Term Loans of consenting Lenders included in determining whether the Required Lenders have consented to any action pursuant to <u>Section 10.01</u>.

Section 10.08&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>. Each of the Agents and the Lenders severally (and not jointly) agrees to maintain the confidentiality of the Information and not to disclose such information, except that Information may be disclosed (a) to its Affiliates and its and its Affiliates' managers, administrators, directors, officers, employees, trustees, partners, investors, investment advisors and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential); (b) to the extent requested by any Governmental Authority or self-regulatory authority having or asserting jurisdiction over such Person (including any Governmental Authority or examiner (including the National Association of Insurance Commissioners or any other similar organization) regulating any Lender or its Affiliates); *provided* that the Administrative Agent or such Lender, as applicable, agrees that it will notify the Borrower as soon as practicable in the event of any such disclosure by such Person (other than at the request of a regulatory authority or examiner) unless such notification is prohibited by law, rule or regulation; (c) to the CUSIP Service Bureau or any similar

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agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Facilities or market data collectors, similar services providers to the lending industry and service providers to the Administrative Agent in connection with the administration and management of this Agreement and the Loan Documents; (d) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process; *provided* that the Administrative Agent or such Lender, as applicable, agrees that it will notify the Borrower as soon as practicable in the event of any such disclosure by such Person (other than at the request of a regulatory authority or examiner) unless such notification is prohibited by law, rule or regulation; (e) to any other party to this Agreement; (f) subject to an agreement containing provisions at least as restrictive as those set forth in this <u>Section 10.08</u> (or as may otherwise be reasonably acceptable to the Borrower), to any pledgee referred to in <u>Section 10.07(h)</u>, counterparty to a Hedging Agreement, Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or Participant in, any of its rights or obligations under this Agreement (*provided* that the disclosure of any such Information to any Lenders or Eligible Assignees or Participants shall be made subject to the acknowledgement and acceptance by such Lender, Eligible Assignee or Participant that such Information is being disseminated on a confidential basis) (on substantially the terms set forth in this <u>Section 10.08</u> or as otherwise reasonably acceptable to the Borrower, including, without limitation, as agreed in any Borrower Materials) in accordance with the standard processes of the Administrative Agent or customary market standards for dissemination of such type of Information; (g) with the written consent of the Borrower; (h) to the extent such Information becomes publicly available other than as a result of a breach of this <u>Section 10.08</u> or becomes available to the Administrative Agent, any Lead Arranger, any Lender or any of their respective Affiliates on a non-confidential basis from a source other than a Loan Party or any Sponsor or their respective Affiliates (so long as such source is not known to the Administrative Agent, such Lead Arranger, such Lender or any of their respective Affiliates to be bound by confidentiality obligations to any Loan Party); (i) to any Governmental Authority or examiner (including the National Association of Insurance Commissioners or any other similar organization) regulating any Lender; (j) to any rating agency when required by it (it being understood that, prior to any such disclosure, such rating agency shall undertake to preserve the confidentiality of any Information relating to Loan Parties received by it from such Lender) or to the CUSIP Service Bureau or any similar organization; (k) in connection with establishing a "due diligence" defense, (l) to any credit insurance provider or (m) to the extent such Information is independently developed by the Administrative Agent, such Lead Arranger, such Lender or any of their respective Affiliates; *provided* that no disclosure shall be made to any Disqualified Lender. In addition, the Agents and the Lenders may disclose the existence of this Agreement and publicly available information about this Agreement to market data collectors, similar service providers to the lending industry, and service providers to the Agents and the Lenders in connection with the administration and management of this Agreement, the other Loan Documents, the Commitments, and the Borrowings. For the purposes of this <u>Section 10.08</u>, "**Information**" means all information received from the Loan Parties relating to any Loan Party, its Affiliates or its Affiliates' directors, managers, officers, employees, trustees, investment advisors or agents, relating to the Borrower or its business, other than any such information that is publicly available to any Agent or any Lender prior to disclosure by any Loan Party other than as a result of a breach of this <u>Section 10.08</u>; *provided* that all information received after the Closing Date from the Borrower shall be deemed confidential unless such information is clearly identified at the time of delivery as not being confidential. For the avoidance of doubt, nothing in this <u>Section 10.08</u> prohibits any individual from communicating or disclosing Information regarding suspected violations of Laws, rules or regulations to any Governmental Authority, regulatory authority or self-regulatory authority without any notification to any Person; *provided* that such communication or disclosure shall only include any Information to the extent required by such governmental, regulatory or self-regulatory authority or otherwise reasonably necessary for the individual to disclose the suspected violation.

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Section 10.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Setoff</u>. In addition to any rights and remedies of the Lenders provided by Law, upon the occurrence and during the continuance of any Event of Default, each Lender and its Affiliates (and the Collateral Agent, in respect of any unpaid fees, costs and expenses payable hereunder) is authorized at any time and from time to time, without prior notice to the Borrower, any such notice being waived by the Borrower (on their own behalf and on behalf of the Parent) to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by, and other Indebtedness at any time owing by, such Lender and its Affiliates or the Collateral Agent to or for the credit or the account of the respective Borrower and the Parent against any and all Obligations owing to such Lender and its Affiliates or the Collateral Agent hereunder or under any other Loan Document, now or hereafter existing, irrespective of whether or not such Agent or such Lender or Affiliate shall have made demand under this Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or Indebtedness; *provided* that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of <u>Section 2.16</u> and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any such set off and application made by such Lender; *provided* that the failure to give such notice shall not affect the validity of such setoff and application. The rights of the Administrative Agent, the Collateral Agent and each Lender under this <u>Section 10.09</u> are in addition to other rights and remedies (including other rights of setoff) that the Administrative Agent, the Collateral Agent and such Lender may have. No amounts set off from the Parent shall be applied to any Excluded Swap Obligations of the Parent. This <u>Section 10.9</u> shall be subject to any applicable Intercreditor Agreement (including, without limitation, the First Lien Intercreditor Agreement).

Section 10.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest Rate Limitation</u>. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the "**Maximum Rate**"). If any Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by an Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, 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.

Section 10.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Agreement and each other Loan Document may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier or other electronic transmission of an executed counterpart of a signature page to this Agreement and each other Loan Document shall be effective as delivery of an original executed counterpart of this Agreement and such other Loan Document. The Agents may also require that any such documents and signatures delivered by telecopier or other electronic transmission be confirmed by an original thereof; *provided* that the failure to request or deliver the same shall not limit the effectiveness of any document or signature delivered by telecopier or other electronic transmission.

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Section 10.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Integration; Termination</u>. This Agreement, together with the other Loan Documents, comprises the complete and integrated agreement of the parties on the subject matter hereof and thereof and supersedes all prior agreements, written or oral, on such subject matter. In the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the provisions of this Agreement shall control; *provided* that the inclusion of supplemental rights or remedies in favor of the Agents or the Lenders in any other Loan Document shall not be deemed a conflict with this Agreement. Each Loan Document was drafted with the joint participation of the respective parties thereto and shall be construed neither against nor in favor of any party, but rather in accordance with the fair meaning thereof.

Section 10.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival of Representations and Warranties</u>. All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by each Agent and each Lender, regardless of any investigation made by any Agent or any Lender or on their behalf and notwithstanding that any Agent or any Lender may have had notice or knowledge of any Default at the time of any Borrowing, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied.

Section 10.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this <u>Section 10.14</u>, if and to the extent that the enforceability of any provision in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent then such provisions shall be deemed to be in effect only to the extent not so limited.

Section 10.15&nbsp;&nbsp;&nbsp;&nbsp;<u>GOVERNING LAW</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;ANY LEGAL ACTION OR PROCEEDING ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE SITTING IN THE BOROUGH OF MANHATTAN, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH LOAN PARTY, EACH AGENT AND EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THOSE COURTS AND AGREES THAT IT WILL NOT COMMENCE OR SUPPORT ANY SUCH ACTION OR PROCEEDING IN ANOTHER

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JURISDICTION. EACH LOAN PARTY, EACH AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS IN THE MANNER PROVIDED FOR NOTICES (OTHER THAN TELECOPIER OR OTHER ELECTRONIC TRANSMISSION) IN <u>SECTION 10.02</u>. NOTHING IN THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION TO ENFORCE ANY AWARD OR JUDGMENT OR EXERCISE ANY RIGHT UNDER THE COLLATERAL DOCUMENTS AGAINST ANY COLLATERAL OR ANY OTHER PROPERTY OF ANY LOAN PARTY IN ANY OTHER FORUM IN ANY JURISDICTION IN WHICH COLLATERAL IS LOCATED.

Section 10.16&nbsp;&nbsp;&nbsp;&nbsp;<u>WAIVER OF RIGHT TO TRIAL BY JURY</u>. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS <u>SECTION 10.16</u> WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

Section 10.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Effect</u>. This Agreement shall become effective when it shall have been executed by the Loan Parties, the Administrative Agent and the Collateral Agent, and the Administrative Agent shall have been notified by each Lender that each Lender has executed it and thereafter this Agreement shall be binding upon and inure to the benefit of the Loan Parties, each Agent and each Lender and their respective successors and assigns, in each case in accordance with <u>Section 10.07</u> (if applicable) and except that no Loan Party shall have the right to assign its rights hereunder or any interest herein without the prior written consent of the Lenders except as permitted by <u>Section 7.04</u>.

Section 10.18&nbsp;&nbsp;&nbsp;&nbsp;<u>USA PATRIOT Act</u>. Each Lender that is subject to the USA PATRIOT Act and/or the Beneficial Ownership Regulation and the Administrative Agent and the Collateral Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act and/or the Beneficial Ownership Regulation, it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name, address and tax identification number of such Loan Party and other information regarding such Loan Party that will allow such Lender, the Administrative Agent or the Collateral Agent, as applicable, to identify such Loan Party in accordance with the USA PATRIOT Act and/or the Beneficial Ownership Regulation. This notice is

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given in accordance with the requirements of the USA PATRIOT Act and/or the Beneficial Ownership Regulation and is effective as to the Lenders, the Administrative Agent and the Collateral Agent.

Section 10.19&nbsp;&nbsp;&nbsp;&nbsp;<u>No Advisory or Fiduciary Responsibility</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In connection with all aspects of each transaction contemplated hereby, each Loan Party acknowledges and agrees, and acknowledges its Affiliates' understanding, that (i) the facilities provided for hereunder and any related arranging or other services in connection therewith (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document) are an arm's-length commercial transaction between the Loan Parties and their respective Affiliates, on the one hand, and the Agents, the Lead Arrangers and the Lenders, on the other hand, and each Loan Party is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification hereof or thereof), (ii) in connection with the process leading to such transaction, each of the Agents, the Lead Arrangers (and their respective Affiliates) and the Lenders is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary, for any Loan Party or any of its Affiliates, stockholders, creditors or employees or any other Person, (iii) none of the Agents, the Lead Arrangers (or their respective Affiliates) or the Lenders has assumed or will assume an advisory, agency or fiduciary responsibility in favor of any Loan Party with respect to any of the transactions contemplated hereby or the process leading thereto, including with respect to any amendment, waiver or other modification hereof or of any other Loan Document (irrespective of whether any Agent or Lender has advised or is currently advising any Loan Party or any of its Affiliates on other matters) and none of the Agents, the Lead Arrangers (or their respective Affiliates) or the Lenders has any obligation to any Loan Party or any of its Affiliates with respect to the financing transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents, (iv) the Agents, the Lead Arrangers (and their respective Affiliates) and the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from, and may conflict with, those of any Loan Party and its respective Affiliates, and none of the Agents, the Lead Arrangers or the Lenders has any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary relationship and (v) the Agents, the Lead Arrangers (and their respective Affiliates) and the Lenders have not provided and will not provide any legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated hereby (including any amendment, waiver or other modification hereof or of any other Loan Document) and the Loan Parties have consulted their own legal, accounting, regulatory and tax advisors to the extent they have deemed appropriate. Each Loan Party hereby waives and releases, to the fullest extent permitted by law, any claims that it may have against the Agents, the Lead Arrangers (and their respective Affiliates) and the Lenders with respect to any breach or alleged breach of agency or fiduciary duty under applicable law relating to agency and fiduciary obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Loan Party acknowledges and agrees that each Lender, each Lead Arranger and any Affiliate thereof may lend money to, invest in, and generally engage in any kind of business with, any Loan Party, any Sponsor, any Affiliate thereof or any other person or entity that may do business with or own securities of any of the foregoing, all as if such Lender, such Lead Arranger or Affiliate thereof were not a Lender, a Lead Arranger or an Affiliate thereof (or an agent or any other person with any similar role under the Facilities) and without any duty to account therefor to any other Lender, any other Lead Arranger, any Loan Party, any Sponsor or any Affiliate of the foregoing. Each Lender, each Lead Arranger and any Affiliate thereof may accept fees and other consideration from any Loan Party, any Sponsor or any Affiliate thereof for services in connection with this Agreement, the Facilities or otherwise without having to account for the same to any other Lender, any other Lead Arranger, any Loan Party, any Sponsor or any Affiliate of the foregoing. Some or all of the Lenders and the Lead Arrangers

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may have directly or indirectly acquired certain equity interests (including warrants) in a Loan Party, a Sponsor or an Affiliate thereof or may have directly or indirectly extended credit on a subordinated basis to a Loan Party, a Sponsor or an Affiliate thereof. Each party hereto, on its behalf and on behalf of its Affiliates, acknowledges and waives the potential conflict of interest resulting from any such Lender, any such Lead Arranger or an Affiliate thereof holding disproportionate interests in the extensions of credit under the Facilities or otherwise acting as arranger or agent thereunder and such Lender, such Lead Arranger or any Affiliate thereof directly or indirectly holding equity interests in or subordinated debt issued by a Loan Party, a Sponsor or an Affiliate thereof.

Section 10.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Execution of Assignments</u>. The words "execution," "signed," "signature," and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based record keeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

Section 10.21&nbsp;&nbsp;&nbsp;&nbsp;<u>Appointment of Independent Consultants</u>. In connection with the transactions contemplated by the Loan Documents, each Lender hereby appoints the following independent consultants (collectively, including any replacement consultant appointed by the Borrower in consultation with the Administrative Agent, the "**Independent Consultants**"): (a) the Independent Engineer, (b) the Insurance Consultant, (c) the Market Consultant and (d) the Commercial Consultant, and authorizes each such Person to exercise such rights, powers, authorities and discretions as are specifically delegated to it (and reasonably incidental thereto) pursuant to its engagement letter and the Loan Documents.

Section 10.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Judgment Currency</u>. If for the purposes of obtaining judgment in any court it is necessary to convert a sum due from the Borrower hereunder in the currency expressed to be payable herein (the "**specified currency**") into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures any Lender could purchase the specified currency with such other currency at such Lender's New York office on the Business Day preceding that on which final judgment is given. The obligations of the Borrower in respect of any sum due to any Lender hereunder shall, notwithstanding any judgment in a currency other than the specified currency, be discharged only to the extent that on the Business Day following receipt by such Lender of any sum adjudged to be so due in such other currency such Lender may in accordance with normal banking procedures purchase the specified currency with such other currency; if the amount of the specified currency so purchased is less than the sum originally due to such Lender in the specified currency, each Borrower agrees, to the fullest extent that it may effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify the Lender against such loss, and if the amount of the specified currency so purchased exceeds the sum originally due to such Lender in the specified currency, such Lender agrees to remit such excess to the Borrower.

Section 10.23&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement and Consent to Bail-In of Affected Financial Institutions</u>. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority.

Section 10.24&nbsp;&nbsp;&nbsp;&nbsp;<u>First Lien Intercreditor Agreement</u>. Notwithstanding anything to the contrary in this Agreement or in any other Loan Document: (a) the Liens granted to the Collateral Agent in favor of the Secured Parties pursuant to the Loan Documents and the exercise of any right related to any Collateral shall be subject, in each case, to the terms of the First Lien Intercreditor Agreement, (b) in the event of any conflict between the express terms and provisions of this Agreement or any other Loan Document, on the one hand, and of the First Lien Intercreditor Agreement, on the other hand, the terms and provisions of the First Lien Intercreditor Agreement shall control, and (c) each Lender authorizes the Administrative Agent and/or the Collateral Agent to execute the First Lien Intercreditor Agreement (and/or amend or make other modifications to the First Lien Intercreditor Agreement as reasonably required or desirable in connection with the transactions expressly permitted by this Agreement) on behalf of such Lender, and such Lender agrees to be bound by the terms thereof.

Section 10.25&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement Regarding Any Supported QFCs</u>. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Hedge Agreements or any other agreement or instrument that is a QFC (such support, "**QFC Credit Support**" and each such QFC a "**Supported QFC**"), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the "**U.S. Special Resolution Regimes**") in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York or of the United States or any other state of the United States):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In the event a Covered Entity that is party to a Supported QFC (each, a "**Covered Party**") becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest,

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obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;As used in this Section 9.18, the following terms have the following meanings:

"**BHC Act Affiliate**" of a party means an "affiliate" (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.

"**Covered Entity**" means any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a "covered entity" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a "covered bank" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a "covered FSI" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

"**Default Right**" has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

"**QFC**" has the meaning assigned to the term "qualified financial contract" in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).

[*Signature Pages Follow*]

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| | |
|:---|:---|
| **MUFG Bank, Ltd.,**<br>as Administrative Agent | **MUFG Bank, Ltd.,**<br>as Administrative Agent |
| By: | /s/Lawrence Blat |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Lawrence Blat |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signatory |

---

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---

| | |
|:---|:---|
| **Sumitomo Mitsui Banking Corporation**, <br>as Collateral Agent | **Sumitomo Mitsui Banking Corporation**, <br>as Collateral Agent |
| By: | /s/ Paul Jun |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Paul Jun |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Managing Director |

---

------

---

| | |
|:---|:---|
| **BLACKFIN PIPELINE, LLC** | **BLACKFIN PIPELINE, LLC** |
| By: | /s/ Scott Simmons |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Scott Simmons |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President &<br>Chief Financial Officer |
| By: | /s/ Leah Woodward |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Leah Woodward |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Treasurer |

---

------

---

| | |
|:---|:---|
| **BLACKFIN PIPELINE PLEDGOR, LLC** | **BLACKFIN PIPELINE PLEDGOR, LLC** |
| By: | /s/ Scott Simmons |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Scott Simmons |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President &<br>Chief Financial Officer |
| By: | /s/ Leah Woodward |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Leah Woodward |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Treasurer |

---

------

---

| | |
|:---|:---|
| **BLACKFIN SUPPLY, LLC** | **BLACKFIN SUPPLY, LLC** |
| By: | /s/ Scott Simmons |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Scott Simmons |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President &<br>Chief Financial Officer |
| By: | /s/ Leah Woodward |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Leah Woodward |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Treasurer |

---

------

---

| | |
|:---|:---|
| **MUFG Bank, Ltd.,**<br>as Lender | **MUFG Bank, Ltd.,**<br>as Lender |
| By: | /s/ Chip Lewis |
|  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Chip Lewis |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Managing Director |

---

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**Schedule 1.01A**

**Percent Share Commitment**

[Omitted]

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**<u>Schedule 1.01B</u>**

**Collateral Documents**

[Omitted]

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**<u>Schedule 2.03(b)</u>**

**Target Debt Balance Schedule**

[Omitted]

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**<u>Schedule 4.01(p)</u>**

**Permits**

[Omitted]

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**<u>Schedule 5.05</u>**

**Certain Liabilities**

[Omitted]

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**<u>Schedule 6.11(b)</u>**

**Closing Date Material Real Property** 

[Omitted]

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**<u>Schedule 6.16</u>**

**Post-Closing Deliveries**

[Omitted]

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**<u>Schedule 6.22</u>**

**Insurance Policies**

[Omitted]

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**<u>Schedule 7.01(b)</u>**

**Existing Liens**

[Omitted]

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**<u>Schedule 7.03(b)</u>**

**Existing Indebtedness**

[Omitted]

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**<u>Schedule 7.07</u>**

**Transactions with Affiliates**

[Omitted]

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**<u>Schedule 7.08</u>**

**Certain Contractual Obligations**

[Omitted]

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**<u>Schedule 10.02(a)</u>**

**Administrative Agent's Office, Certain Addresses for Notices**

[Omitted]

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**EXHIBIT A**

[FORM OF]<br>COMMITTED LOAN NOTICE

[Omitted]

\|US-DOCS\164254165.8\|\|

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**EXHIBIT B**

[FORM OF]<br>NOTE

[Omitted]

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**EXHIBIT C-1**

[FORM OF]<br>COMPLIANCE CERTIFICATE

[Omitted]

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**EXHIBIT C-2**

[FORM OF]<br>SOLVENCY CERTIFICATE<br>of<br>BLACKFIN PIPELINE, LLC

BLACKFIN PIPELINE PLEDGOR, LLC

BLACKFIN SUPPLY, LLC

[Omitted]

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**EXHIBIT D**

[FORM OF]<br>ASSIGNMENT AND ASSUMPTION

[Omitted]

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**EXHIBIT E-1**

[FORM OF]<br>SECURITY AND DEPOSITARY AGREEMENT

[Omitted]

------

**EXHIBIT E-2**

[FORM OF]<br>PLEDGE AGREEMENT

[Omitted]

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**EXHIBIT F**

[FORM OF]<br>CAPACITY LEASE CONSENT AGREEMENT

[Omitted]

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**EXHIBIT G**

[FORM OF]<br>FIRST LIEN INTERCREDITOR AGREEMENT

[Omitted]

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**EXHIBIT H-1**

U.S. TAX COMPLIANCE CERTIFICATE<br>(FOR FOREIGN LENDERS THAT ARE NOT PARTNERSHIPS FOR<br>U.S. FEDERAL INCOME TAX PURPOSES)

[Omitted]

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**EXHIBIT H-2**

U.S. TAX COMPLIANCE CERTIFICATE<br>(FOR FOREIGN PARTICIPANTS THAT ARE NOT PARTNERSHIPS<br>FOR U.S. FEDERAL INCOME TAX PURPOSES)

[Omitted]

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**EXHIBIT H-3**

U.S. TAX COMPLIANCE CERTIFICATE<br>(FOR FOREIGN PARTICIPANTS THAT ARE PARTNERSHIPS<br>FOR U.S. FEDERAL INCOME TAX PURPOSES)

[Omitted]

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**EXHIBIT H-4**

U.S. TAX COMPLIANCE CERTIFICATE<br>(FOR FOREIGN LENDERS THAT ARE PARTNERSHIPS FOR<br>U.S. FEDERAL INCOME TAX PURPOSES)

[Omitted]

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**EXHIBIT I-1**

FORM OF AFFILIATED LENDER ASSIGNMENT AND ASSUMPTION

[Omitted]

------

**EXHIBIT I-2**

FORM OF AFFILIATED LENDER NOTICE

[Omitted]

------

**EXHIBIT I-3**

FORM OF ACCEPTANCE AND PREPAYMENT NOTICE

[Omitted]

------

**EXHIBIT I-4**

FORM OF DISCOUNT RANGE PREPAYMENT NOTICE

[Omitted]

------

**EXHIBIT I-5**

FORM OF DISCOUNT RANGE PREPAYMENT OFFER

[Omitted]

------

**EXHIBIT I-6**

FORM OF SOLICITED DISCOUNTED PREPAYMENT NOTICE

[Omitted]

------

**EXHIBIT I-7**

FORM OF SOLICITED DISCOUNTED PREPAYMENT OFFER

[Omitted]

------

**EXHIBIT I-8**

FORM OF SPECIFIED DISCOUNT PREPAYMENT NOTICE

[Omitted]

------

**EXHIBIT I-9**

FORM OF SPECIFIED DISCOUNT PREPAYMENT RESPONSE

[Omitted]

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**EXHIBIT J-1**

[FORM OF]

INDEPENDENT ENGINEER CERTIFICATE

[Omitted]

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**EXHIBIT J-2**

[FORM OF]

INDEPENDENT ENGINEER CERTIFICATE

[Omitted]

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**EXHIBIT K**

FORM OF<br>O&M CONSENT AGREEMENT

[Omitted]

## Exhibit 10.9

**Exhibit 10.9**

*Execution Version*

**AMENDMENT NO. 1 TO TLA/REVOLVER CREDIT AGREEMENT**

This AMENDMENT NO. 1 TO CREDIT AGREEMENT (this "***Amendment No. 1***"), dated as of October 10, 2025, is in respect of the Credit Agreement, dated as of September 29, 2025 (as amended, amended and restated, modified or supplemented from time to time, the "***TLA/Revolver Credit Agreement***"), by and among Blackfin Pipeline, LLC (the "***Borrower***"), Blackfin Pipeline Pledgor, LLC (the "***Parent***"), Blackfin Supply, LLC (the "***Permitted Subsidiary***", and together with the Borrower and the Parent, the "***Loan Parties***"), the Lenders party thereto from time to time, MUFG Bank, Ltd, as Administrative Agent (in such capacity, the "***Administrative Agent***") and Sumitomo Mitsui Banking Corporation, as Collateral Agent (in such capacity, the "***Collateral Agent***"). All capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the TLA/Revolver Credit Agreement. For all purposes of this Amendment No. 1, except as otherwise expressly provided, the rules of interpretation set forth in Section 1.02 (*Other Interpretive Provisions*) of the TLA/Revolver Credit Agreement are hereby incorporated by reference, *mutatis mutandis*, as if fully set forth herein.

WHEREAS, pursuant to Section 10.1 (*Amendments, Etc*.) of the TLA/Revolver Credit Agreement, the Lenders required pursuant to such Section, the Borrower and the other Loan Parties, or the Administrative Agent (with the consent of the Lenders required pursuant to such Section), the Borrower and the Loan Parties may, from time to time, enter into certain amendments or waivers with respect to the TLA/Revolver Credit Agreement, subject to the terms and conditions set forth therein.

WHEREAS, the Borrower has requested that the Lenders under the TLB Credit Agreement consent and agree, and the Lenders constituting the Required Lenders are willing to consent and agree, to amend the TLA/Revolver Credit Agreement to make the amendments specified in Section 1 herein on the terms and conditions set forth herein.

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

Section 1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment to Section 7.06 (</u>*<u>Restricted Payments</u>*<u>)</u>. Upon the effectiveness of this Amendment No. 1 in accordance with <u>Section 3.1</u> below, the last paragraph of Section 7.06 (*Restricted Payments*) of the TLA/Revolver Credit Agreement is hereby amended by deleting such paragraph in its entirety and replacing it with the following:

"Notwithstanding the foregoing, (x) at the Closing Date, the Borrower shall be entitled to make a Restricted Payment to the Parent (and the Parent shall be entitled to make such Restricted Payment to the Sponsors) up to an amount of

ID: 4916-9306-3024 v.1.1 - MSW

\|US-DOCS\164681961.8\|\|

#101176958v2&nbsp;&nbsp;&nbsp;&nbsp;

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$859,023,126.30, subject to no further conditions (other than those conditions set forth in <u>Section 4.01</u>) (the "**Closing Date Distribution**"), (y) at the Amendment No. 1 Effective Date, the Borrower shall be entitled to make a Restricted Payment to the Parent (and the Parent shall be entitled to make such Restricted Payment to the Sponsors) up to an amount of $30,125,000.00, subject to no further conditions (other than those conditions set forth in <u>Amendment No. 1</u>) and (z) on or within 30 days of the Conversion Date, the Borrower shall be entitled to make to the Parent (and the Parent shall be entitled to make such Restricted Payment to the Sponsors) the True-Up Distribution."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment to Section 7.03(f) (</u>*<u>Indebtedness</u>*<u>)</u>. Upon the effectiveness of this Amendment No. 1 in accordance with <u>Section 3.1</u> below, Section 7.03(f) (*Indebtedness*) of the TLA/Revolver Credit Agreement is hereby amended and restated in its entirety as follows:

"Indebtedness incurred under the TLB Credit Agreement not to exceed $1,075,000,000 at any time;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment to Schedule 2.05(a) (</u>*<u>Amortization Schedule</u>*<u>)</u>. Upon the effectiveness of this Amendment No. 1 in accordance with <u>Section 3.1</u> below, Schedule 2.05(a) (*Amortization Schedule*) of the TLA/Revolver Credit Agreement is hereby amended and restated as set forth in <u>Schedule A</u> hereto.

Section 2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement</u>. For avoidance of doubt, each Lender party hereto acknowledges and agrees that the additional Indebtedness permitted under the TLB Credit Agreement by this Amendment No. 1 shall not be considered an Incremental Facility and shall not count as against the Free and Clear Incremental Amount.

Section 3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions Precedent; Representations and Warranties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions Precedent to Effectiveness</u>. This Amendment No. 1 shall become effective as of the date on which each of the following conditions precedent has been satisfied (the "***Amendment No. 1 Effective Date***"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;delivery of executed counterparts of this Amendment No. 1 by each of (i) the Borrower, (ii) the Parent, (iii) the Permitted Subsidiary, (iv) the Administrative Agent and (v) the Lenders constituting 100% of the Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;delivery of executed copies of (i) that certain Amended & Restated Upfront Fee Letter, dated as of the date hereof, by and among MUFG Bank, Ltd., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and the Borrower and (ii) that certain Arranger Fee Letter, dated as of the date hereof, by and among MUFG Bank, Ltd., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Borrower has arranged for payment on the Amendment No. 1 Effective Date of all reasonable and documented out-of-pocket fees and expenses then due and payable pursuant to the Loan Documents to the extent invoiced at least three (3) Business Days prior to the Amendment No. 1 Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties</u>. The Borrower hereby represents and warrants to the Administrative Agent that, as of the Amendment No. 1 Effective Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;no Default or Event of Default exists;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;since the Closing Date, no development or event has occurred that has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;each of the representations and warranties made by each Loan Parties in the Loan Documents is true and correct in all material respects, except for those representations and warranties that are qualified by materiality, which are true and correct in all respects, as to such Loan Party on and as of the Amendment No. 1 Effective Date (or, if stated to have been made solely as of an earlier date, as of such earlier date) (it being understood and agreed that, for purposes of the representations and warranties contemplated by this clause (c), the TLA/Revolver Credit Agreement shall be as amended by this Amendment No. 1).

Section 4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Security and Depository Agreement</u>. As collateral security for the performance by the Company of all of its covenants, agreements and obligations under the Secured Obligation Documents and the prompt repayment in full when due and payable (whether at stated maturity, by acceleration or otherwise) of the Loans and all other Secured Obligations (arising under the TLA/Revolver Credit Agreement, as amended by this Amendment No. 1), each of the Borrower and the Permitted Subsidiary confirms and agrees that, pursuant to the Security and Depository Agreement, it has granted, and as of the date hereof it continues to grant, to the Collateral Agent for the benefit of the Secured Parties, a first priority security interest on all its right, title and interest whether now owned or hereafter existing or acquired in, to and under the Collateral described in the Security and Depository Agreement, including Section 7.01 (*Collateral*) thereof.

Section 5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Pledge Agreement</u>. As collateral security for the timely payment in full in cash when due and performance of the Secured Obligations (arising under the TLA/Revolver Credit Agreement, as amended by this Amendment No. 1), the Parent confirms and agrees that, pursuant to the Pledge Agreement, it has collaterally assigned, pledged, granted, conveyed and transferred, and as of the date hereof it continues to collaterally assign, pledge, grant, convey and transfer, to the Collateral Agent for the benefit of the Secured Parties, a first priority security interest in and to all of its respective presently owned or hereafter acquired right, title, estate and

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interest in and to the Pledge Collateral described in the Pledge Agreement, including Section 2 (*Pledge and Security Interest*) thereof.

Section 6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Loan Document</u>. This Amendment No. 1 constitutes a Loan Document as such term is defined in, and for purposes of, the TLA/Revolver Credit Agreement.

Section 7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law; Jurisdiction; Etc.</u> The provisions of Sections 10.15 (*GOVERNING LAW*) and 10.16 (*WAIVER OF RIGHT TO TRIAL BY JURY*) of the TLA/Revolver Credit Agreement are hereby incorporated by reference, *mutatis mutandis*, as if fully set forth herein.

Section 8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Headings</u>. All headings in this Amendment No. 1 are included only for convenience and ease of reference and shall not be considered in the construction and interpretation of any provision hereof.

Section 9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Nature and Benefit; Amendment</u>. This Amendment No. 1 shall be binding upon and inure to the benefit of each party hereto and their respective successors and permitted assigns. This Amendment No. 1 may not be amended or modified except pursuant to a written instrument signed by all parties hereto.

Section 10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. The provisions of Section 10.14 (*Severability*) of the TLA/Revolver Credit Agreement are hereby incorporated by reference, *mutatis mutandis*, as if fully set forth herein.

Section 11.&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Amendment No. 1 may be executed in multiple counterparts, each of which shall be deemed an original for all purposes, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment No. 1 by facsimile or portable document format ("pdf") shall be effective as delivery of a manually executed counterpart of this Amendment No. 1.

Section 12.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Modifications; No Other Matters</u>. Except as expressly provided for herein, the terms and conditions of the TLA/Revolver Credit Agreement and the other Loan Documents shall continue unchanged and shall remain in full force and effect. This Amendment No. 1 shall apply solely in the specific instances and for the specific purposes expressly set forth herein and shall not be deemed or construed as a waiver of any other matters or to prejudice any rights which any of the Secured Parties may now have or may have in the future under or in connection with the Loan Documents or any of the instruments or documents referred to therein, nor shall this Amendment No. 1 apply to any other matters.

Section 13.&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Amendment</u>. From and after the Amendment No. 1 Effective Date, any reference in the TLA/Revolver Credit Agreement or any Loan Document or other documents, certificates or instruments related thereto or annexes, schedules or exhibits referring to the TLA/Revolver Credit Agreement or any component thereof shall be deemed to refer to the

&nbsp;&nbsp;&nbsp;&nbsp;

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TLA/Revolver Credit Agreement or component thereof as amended by this Amendment No. 1 and references in the TLA/Revolver Credit Agreement to "this Agreement" (including indirect references such as "hereunder", "hereby", "herein" and "hereof") shall be deemed to be references to the TLA/Revolver Credit Agreement as amended hereby.

Section 14.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Novation</u>. The parties hereto acknowledge and agree that the amendment of the Credit Agreement pursuant to this Amendment No. 1 and all other Loan Documents amended and/or executed and delivered in connection herewith shall not constitute a novation of the Credit Agreement and the other Loan Documents as in effect prior to the Amendment No. 1 Effective Date.

Section 15.&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Execution.</u> The words "execution," "execute", "signed," "signature," and words of like import in or related to any document to be signed in connection with this Amendment No. 1 and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state, provincial or territorial laws based on the Uniform Electronic Transactions Act.

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**IN WITNESS WHEREOF**, the parties have caused this Amendment No. 1 to be duly executed by their officers thereunto duly authorized as of the day and year first above written.

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| |
|:---|
| **BLACKFIN PIPELINE, LLC**,<br>as the Borrower |
| By: <u>/s/ Scott Simmons</u> <br> Name: Scott Simmons<br>Title: Senior Vice President and Chief Financial Officer |
| **BLACKFIN SUPPLY, LLC**, as the Permitted Subsidiary |
| By: <u>/s/ Scott Simmons</u><br> Name: Scott Simmons<br>Title: Senior Vice President and Chief Financial Officer |
| **BLACKFIN PIPELINE PELDGOR, LLC**, as the Parent |
| By: <u>/s/ Scott Simmons</u><br> Name: Scott Simmons<br>Title: Senior Vice President and Chief Financial Officer |

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[Signature Page to Amendment No. 1 (TLA)]

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| |
|:---|
| Acknowledged and agreed as of the first date set forth above. |
| **MUFG BANK, LTD.**,<br>as Administrative Agent |
| By: <u>/s/ Lawrence Blat&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Name: Lawrence Blat<br>Title: Authorized Signatory |

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[Signature Page to Amendment No. 1 (TLA)]

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| |
|:---|
| Acknowledged and agreed as of the first date set forth above. |
| **MUFG BANK, LTD.**,<br>as Lender |
| By: <u>/s/ Chip Lewis&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Name: Chip Lewis<br>Title: Managing Director |

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[Signature Page to Amendment No. 1 (TLA)]

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| |
|:---|
| Acknowledged and agreed as of the first date set forth above. |
| **JPMORGAN CHASE BANK, N.A.**,<br>as Lender |
| By: <u>/s/ Omar Valdez&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Name: Omar Valdez<br>Title: Executive Director |

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[Signature Page to Amendment No. 1 (TLA)]

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| |
|:---|
| Acknowledged and agreed as of the first date set forth above. |
| **MIZUHO BANK, LTD.**,<br>as Lender |
| By: <u>/s/ Dominick D'Ascoli&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Name: Dominick D'Ascoli<br>Title: Director |

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[Signature Page to Amendment No. 1 (TLA)]

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| |
|:---|
| Acknowledged and agreed as of the first date set forth above. |
| **SUMITOMO MITSUI BANKING CORPORATION**,<br>as Lender |
| By: <u>/s/ Paul Jun&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Name: Paul Jun<br>Title: Managing Director |

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[Signature Page to Amendment No. 1 (TLA)]

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Schedule A

**<u>SCHEDULE 2.05(a)</u>**

**<u>Updated Amortization Schedule</u>**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 10.10

**Exhibit 10.10**

*Execution Version*

**AMENDMENT NO. 1 TO TLB CREDIT AGREEMENT**

This AMENDMENT NO. 1 TO CREDIT AGREEMENT (this "***Amendment No. 1***"), dated as of October 10, 2025, is in respect of the Credit Agreement, dated as of September 29, 2025 (as amended, amended and restated, modified or supplemented from time to time, the "***TLB Credit Agreement***"), by and among Blackfin Pipeline, LLC (the "***Borrower***"), Blackfin Pipeline Pledgor, LLC (the "***Parent***"), Blackfin Supply, LLC (the "***Permitted Subsidiary***", and together with the Borrower and the Parent, the "***Loan Parties***"), the Lenders party thereto from time to time, MUFG Bank, Ltd., as Administrative Agent (in such capacity, the "***Administrative Agent***") and Sumitomo Mitsui Banking Corporation, as Collateral Agent (in such capacity, the "***Collateral Agent***"). All capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the TLB Credit Agreement. For all purposes of this Amendment No. 1, except as otherwise expressly provided, the rules of interpretation set forth in Section 1.02 (*Other Interpretive Provisions*) of the TLB Credit Agreement are hereby incorporated by reference, *mutatis mutandis*, as if fully set forth herein.

WHEREAS, pursuant to Section 10.1 (*Amendments, Etc*.) of the TLB Credit Agreement, the Required Lenders, the Borrower and the other Loan Parties, or the Administrative Agent (with the consent of the Required Lenders), the Borrower and the other Loan Parties may, from time to time, enter into certain amendments or waivers with respect to the TLB Credit Agreement, subject to the terms and conditions set forth therein.

WHEREAS, the Borrower has requested an amendment to increase the Initial Term Commitment by an aggregate principal amount of $25,000,000 (the "***Increased Commitment***", and the loans thereunder, the "***Amendment No. 1 Initial Term Loans***"), which Increased Commitment shall constitute the same Class as the Initial Term Commitments incurred on the Closing Date and which Amendment No. 1 Initial Term Loans shall have the same terms and conditions as the Initial Term Loans;

WHEREAS, in connection with the foregoing, the Borrower has requested that the Lenders under the TLA/Revolver Credit Agreement consent and agree, and the Lenders constituting the Required Lenders are willing to consent and agree, to amend the TLB Credit Agreement to (i) make the amendments specified in <u>Section 1</u> herein and (ii) reflect the Increased Commitment (as defined below) and the funding of Amendment No. 1 Initial Term Loans, in each case on the terms and conditions set forth herein.

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

Section 1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Definitions</u>. Upon the effectiveness of this Amendment No. 1 in accordance with <u>Section 3.1</u> below, the following definitions are hereby added to Section 1.01 (*Defined Terms*) of the TLB Credit Agreement in the correct alphabetical order:

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&nbsp;&nbsp;&nbsp;&nbsp;"**Amendment No. 1 Effective Date**" shall mean October 10, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;"**Amendment No. 1**" shall mean the Amendment No. 1 to Credit Agreement, dated as of the Amendment No. 1 Effective Date, among the Borrower, the Parent, the Permitted Subsidiary, the Lenders party thereto and the Administrative Agent.

"**Initial Term Commitment**" means, as to each Lender, its obligation to make an Initial Term Loan to the Borrower pursuant to <u>Section 2.01</u> in an aggregate amount not to exceed the amount set forth opposite such Lender's name in <u>Schedule 1.01A</u> under the caption "Initial Term Commitment" or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement (including <u>Section 2.12</u>). The aggregate amount of the Initial Term Commitment as of the Amendment No. 1 Effective Date is $1,075,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment to Definition of Applicable Rate</u>. Upon the effectiveness of this Amendment No. 1 in accordance with <u>Section 3.1</u> below, the definition of "Applicable Rate" in Section 1.01 (*Defined Terms*) of the TLB Credit Agreement is hereby amended by deleting such definition in its entirety and replacing it with the following:

""<u>Applicable Rate</u>" means a percentage per annum equal to (a) for Term SOFR Loans, 3.00% and (b) for Base Rate Loans, 2.00%."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment to Section 7.06 (</u>*<u>Restricted Payments</u>*<u>)</u>. Upon the effectiveness of this Amendment No. 1 in accordance with <u>Section 3.1</u> below, the last paragraph of Section 7.06 (*Restricted Payments*) of the TLB Credit Agreement is hereby amended by deleting such paragraph in its entirety and replacing it with the following:

"Notwithstanding the foregoing, (x) at the Closing Date, the Borrower shall be entitled to make a Restricted Payment to the Parent (and the Parent shall be entitled to make such Restricted Payment to the Sponsors) up to an amount of $859,023,126.30, subject to no further conditions (other than those conditions set forth in <u>Section 4.01</u>) (the "**Closing Date Distribution**"), (y) at the Amendment No. 1 Effective Date, the Borrower shall be entitled to make a Restricted Payment to the Parent (and the Parent shall be entitled to make such Restricted Payment to the Sponsors) up to an amount of $30,125,000.00, subject to no further conditions (other than those conditions set forth in Amendment No. 1) and (z) on or within 30 days of the Conversion Date, the Borrower shall be entitled to make to the Parent (and the Parent shall be entitled to make such Restricted Payment to the Sponsors) the True-Up Distribution."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment to Schedule 2.03(b) (</u>*<u>Target Debt Balance Schedule</u>*<u>)</u>. Upon the effectiveness of this Amendment No. 1 in accordance with <u>Section 3.1</u> below, Schedule

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2.03(b) (*Target Debt Balance Schedule*) of the TLB Credit Agreement is hereby amended and restated as set forth in Schedule B hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Increased Commitment; Amendment No. 1 Initial Term Loans</u>. Upon the effectiveness of this Amendment No. 1 in accordance with <u>Section 3.1</u> below and notwithstanding anything to the contrary under the TLB Credit Agreement, each Lender party hereto and the institution listed on <u>Schedule A</u> hereto (the "***Upsizing Lender***"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;consents and agrees (i) to increase the Upsizing Lender's Initial Term Commitment by the Increased Commitment and (ii) that the section titled "Commitments" on Schedule 1.01A (*Commitments*) to the TLB Credit Agreement is hereby amended and restated in its entirety and replaced by <u>Schedule A</u> hereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;agrees, subject to the satisfaction of the conditions set forth in <u>Section 3.1</u> below, to fund the Amendment No. 1 Initial Term Loans to the Borrower on the date hereof in an amount equal to the Increased Commitment.

Section 2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Terms of Increased Commitment and Amendment No. 1 Initial Term Loans</u>. The Applicable Rate, covenants, payment terms, voluntary and mandatory prepayments and other provisions applicable to the Increased Commitment and Amendment No. 1 Initial Term Loans shall be the same as such provisions applicable to the existing Commitments and existing Initial Term Loans, respectively. For avoidance of doubt, each Lender party hereto acknowledges and agrees that the additional Indebtedness permitted under the TLB Credit Agreement by this Amendment No. 1 shall not be considered an Incremental Term Facility and shall not count as against the Free and Clear Incremental Amount.

Section 3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions Precedent; Representations and Warranties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Conditions Precedent to Effectiveness</u>. This Amendment No. 1 shall become effective, and the Upsizing Lender shall fund the Amendment No. 1 Initial Term Loans, as of the date on which each of the following conditions precedent has been satisfied (the "***Amendment No. 1 Effective Date***"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;delivery of executed counterparts of this Amendment No. 1 by each of (i) the Borrower, (ii) the Parent, (iii) the Permitted Subsidiary, (iv) the Administrative Agent, (v) the Lenders constituting 100% of the Lenders and (vi) the Upsizing Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Borrower has arranged for payment on the Amendment No. 1 Effective Date of all reasonable and documented out-of-pocket fees and expenses then due and payable pursuant to the Loan Documents to the extent invoiced at least three (3) Business Days prior to the Amendment No. 1 Effective Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;delivery of a Committed Loan Notice in accordance with the requirements of the TLB Credit Agreement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;delivery of executed copies of (i) that certain Amended & Restated Upfront Fee Letter, dated as of the date hereof, by and among MUFG Bank, Ltd., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and the Borrower and (ii) that certain Arranger Fee Letter, dated as of the date hereof, by and among MUFG Bank, Ltd., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;for the account of the Upsizing Lender if requested by Upsizing Lender, by written notice to the Borrower (with a copy to the Administrative Agent) at least two Business Days prior to the date of borrowing of Amendment No. 1 Initial Term Loans, a Note to evidence the Increased Commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties</u>. The Borrower hereby represents and warrants to the Upsizing Lender and the Administrative Agent that, as of the Amendment No. 1 Effective Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;no Default or Event of Default exists before or after giving effect to the Increased Commitment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;since the Closing Date, no development or event has occurred that has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;each of the representations and warranties made by each Loan Parties in the Loan Documents is true and correct in all material respects, except for those representations and warranties that are qualified by materiality, which are true and correct in all respects, as to such Loan Party on and as of the Amendment No. 1 Effective Date (or, if stated to have been made solely as of an earlier date, as of such earlier date) (it being understood and agreed that, for purposes of the representations and warranties contemplated by this clause (c), the TLB Credit Agreement shall be as amended by this Amendment No. 1).

Section 4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Security and Depository Agreement</u>. As collateral security for the performance by the Company of all of its covenants, agreements and obligations under the Secured Obligation Documents and the prompt repayment in full when due and payable (whether at stated maturity, by acceleration or otherwise) of the Loans and all other Secured Obligations (arising under the TLB Credit Agreement, as amended by this Amendment No. 1), each of the Borrower and the Permitted Subsidiary confirms and agrees that, pursuant to the Security and Depository Agreement, it has granted, and as of the date hereof it continues to grant, to the Collateral Agent for the benefit of the Secured Parties, a first priority security interest on all its right, title and interest whether now owned or hereafter existing or acquired in, to and under the Collateral described in the Security and Depository Agreement, including Section 7.01 (*Collateral*) thereof.

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Section 5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Pledge Agreement</u>. As collateral security for the timely payment in full in cash when due and performance of the Secured Obligations (arising under the TLB Credit Agreement, as amended by this Amendment No. 1), the Parent confirms and agrees that, pursuant to the Pledge Agreement, it has collaterally assigned, pledged, granted, conveyed and transferred, and as of the date hereof it continues to collaterally assign, pledge, grant, convey and transfer, to the Collateral Agent for the benefit of the Secured Parties, a first priority security interest in and to all of its respective presently owned or hereafter acquired right, title, estate and interest in and to the Pledge Collateral described in the Pledge Agreement, including Section 2 (*Pledge and Security Interest*) thereof.

Section 6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Loan Document</u>. This Amendment No. 1 constitutes a Loan Document as such term is defined in, and for purposes of, the TLB Credit Agreement.

Section 7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law; Jurisdiction; Etc.</u> The provisions of Sections 10.15 (*GOVERNING LAW*) and 10.16 (*WAIVER OF RIGHT TO TRIAL BY JURY*) of the TLB Credit Agreement are hereby incorporated by reference, *mutatis mutandis*, as if fully set forth herein.

Section 8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Headings</u>. All headings in this Amendment No. 1 are included only for convenience and ease of reference and shall not be considered in the construction and interpretation of any provision hereof.

Section 9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Nature and Benefit; Amendment</u>. This Amendment No. 1 shall be binding upon and inure to the benefit of each party hereto and their respective successors and permitted assigns. This Amendment No. 1 may not be amended or modified except pursuant to a written instrument signed by all parties hereto.

Section 10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. The provisions of Section 10.14 (*Severability*) of the TLB Credit Agreement are hereby incorporated by reference, *mutatis mutandis*, as if fully set forth herein.

Section 11.&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Amendment No. 1 may be executed in multiple counterparts, each of which shall be deemed an original for all purposes, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment No. 1 by facsimile or portable document format ("pdf") shall be effective as delivery of a manually executed counterpart of this Amendment No. 1.

Section 12.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Modifications; No Other Matters</u>. Except as expressly provided for herein, the terms and conditions of the TLB Credit Agreement and the other Loan Documents shall continue unchanged and shall remain in full force and effect. This Amendment No. 1 shall apply solely in the specific instances and for the specific purposes expressly set forth herein and shall not be deemed or construed as a waiver of any other matters or to prejudice any rights which any of the Secured Parties may now have or may have in the future under or in connection with the Loan Documents or any of the instruments or documents referred to therein, nor shall this Amendment No. 1 apply to any other matters.

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Section 13.&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Amendment</u>. From and after the Amendment No. 1 Effective Date, any reference in the TLB Credit Agreement or any Loan Document or other documents, certificates or instruments related thereto or annexes, schedules or exhibits referring to the TLB Credit Agreement or any component thereof shall be deemed to refer to the TLB Credit Agreement or component thereof as amended by this Amendment No. 1 and references in the TLB Credit Agreement to "this Agreement" (including indirect references such as "hereunder", "hereby", "herein" and "hereof") shall be deemed to be references to the TLB Credit Agreement as amended hereby.

Section 14.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Novation</u>. The parties hereto acknowledge and agree that the amendment of the Credit Agreement pursuant to this Amendment No. 1 and all other Loan Documents amended and/or executed and delivered in connection herewith shall not constitute a novation of the Credit Agreement and the other Loan Documents as in effect prior to the Amendment No. 1 Effective Date.

Section 15.&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Execution.</u> The words "execution," "execute", "signed," "signature," and words of like import in or related to any document to be signed in connection with this Amendment No. 1 and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state, provincial or territorial laws based on the Uniform Electronic Transactions Act.

[*Remainder of the page left intentionally blank*.]

&nbsp;&nbsp;&nbsp;&nbsp;

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**IN WITNESS WHEREOF**, the parties have caused this Amendment No. 1 to be duly executed by their officers thereunto duly authorized as of the day and year first above written.

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| |
|:---|
| **BLACKFIN PIPELINE, LLC**,<br>as the Borrower |
| By: <u>/s/ Scott Simmons&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Name: Scott Simmons<br>Title: Senior Vice President and Chief Financial Officer |
| **BLACKFIN SUPPLY, LLC**, as the Permitted Subsidiary |
| By: <u>/s/ Scott Simmons&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Name: Scott Simmons<br>Title: Senior Vice President and Chief Financial Officer |
| **BLACKFIN PIPELINE PLEDGOR, LLC**, as the Parent |
| By: <u>/s/ Scott Simmons&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Name: Scott Simmons<br>Title: Senior Vice President and Chief Financial Officer |

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[Signature Page to Amendment No. 1 (TLB)]

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| |
|:---|
| Acknowledged and agreed as of the first date set forth above. |
| **MUFG BANK, LTD.**,<br>as Administrative Agent |
| By: <u>/s/ Michael D'Ecclesiis&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Name: Michael D'Ecclesiis<br>Title: Managing Director |

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[Signature Page to Amendment No. 1 (TLB)]

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| |
|:---|
| Acknowledged and agreed as of the first date set forth above. |
| **MUFG BANK, LTD.**,<br>as Lender and as Upsizing Lender |
| By: <u>/s/ Chip Lewis&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Name: Chip Lewis<br>Title: Managing Director |

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[Signature Page to Amendment No. 1 (TLB)]

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Schedule A

**<u>SCHEDULE 1.01A</u>**

**<u>Commitments</u>**

[Omitted]

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Schedule B

**<u>SCHEDULE 2.03(b)</u>**

**<u>Target Debt Balance Schedule</u>**

[Omitted]

&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 31.1

**Exhibit 31.1**

**Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**

I, Michael Sabel, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this Quarterly Report on Form 10-Q of Venture Global, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The company's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the company and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*[Reserved]*;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Evaluated the effectiveness of the company's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &nbsp;&nbsp;&nbsp;&nbsp;Disclosed in this report any change in the company's internal control over financial reporting that occurred during the company's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the company's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The company's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company's auditors and the audit committee of the company's board of directors (or persons performing the equivalent functions):

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 10, 2025

---

| |
|:---|
| /s/ Michael Sabel |
| By:&nbsp;&nbsp;&nbsp;&nbsp;Michael Sabel |
| Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer |

---

## Exhibit 31.2

**Exhibit 31.2**

**Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**

I, Jonathan Thayer, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this Quarterly Report on Form 10-Q of Venture Global, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The company's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the company and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*[Reserved]*;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Evaluated the effectiveness of the company's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &nbsp;&nbsp;&nbsp;&nbsp;Disclosed in this report any change in the company's internal control over financial reporting that occurred during the company's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the company's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The company's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company's auditors and the audit committee of the company's board of directors (or persons performing the equivalent functions):

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 10, 2025

---

| |
|:---|
| /s/ Jonathan Thayer |
| By:&nbsp;&nbsp;&nbsp;&nbsp;Jonathan Thayer |
| Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer |

---

## Exhibit 32.1

**Exhibit 32.1**

**Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002**

The certification set forth below is being submitted in connection with the Quarterly Report on Form 10-Q of Venture Global, Inc. for the period ending September 30, 2025 (the "Report") for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Section 1350 of Chapter 63 of Title 18 of the United States Code.

Michael Sabel, the Chief Executive Officer of Venture Global, Inc., certifies that, to the best of his knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.the Report fully complies with the requirements of Section 13(a) or 15(d) of the Exchange Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Venture Global, Inc.

Date: November 10, 2025

---

| |
|:---|
| /s/ Michael Sabel |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Michael Sabel |
| Chief Executive Officer |

---

&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 32.2

**Exhibit 32.2**

**Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002**

The certification set forth below is being submitted in connection with the Quarterly Report on Form 10-Q of Venture Global, Inc. for the period ending September 30, 2025 (the "Report") for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Section 1350 of Chapter 63 of Title 18 of the United States Code.

Jonathan Thayer, the Chief Financial Officer of Venture Global, Inc., certifies that, to the best of his knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.the Report fully complies with the requirements of Section 13(a) or 15(d) of the Exchange Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Venture Global, Inc.

Date: November 10, 2025

---

| |
|:---|
| /s/ Jonathan Thayer |
| Name:&nbsp;&nbsp;&nbsp;&nbsp;Jonathan Thayer |
| Chief Financial Officer |

---

&nbsp;&nbsp;&nbsp;&nbsp;